On framing from George Lakoff
“Because the “free market” doesn’t exist. There is no such thing. All markets are constructed. Think of the stock exchange. It has rules. The WTO [World Trade Organization] has 900 pages of regulations. The bond market has all kinds of regulations and commissions to make sure those regulations carried out. Every market has rules. For example, corporations have a legal obligation to maximize shareholder profit. That’s a construction of the market. Now, it doesn’t have to be that way. You could make that rule, “Corporations must maximize stakeholder value.” Stakeholders - as opposed to shareholders, the institutions who own the largest portions of stock - would include employees, local communities, and the environment. That changes the whole notion of what a “market” is.
Suppose we were to change the accounting rules, so that we not only had open accounting, which we really need, but we also had full accounting. Full accounting would include things like ecological accounting. You could no longer dump your stuff in the river or the air and not pay a fee. No more free dumping. If you had full accounting, that constructs the market in a different way. It’s still a market, and it’s still “free” within the rules. But the rules are always there. It’s important for progressives to get that idea out there, that all markets are constructed. We should be debating how they’re constructed, how they should be constructed, and how are they stacked to serve particular interests.”
See also: Framing the issues: UC Berkeley professor George Lakoff tells how conservatives use language to dominate politics (via)
