Mark Pennington Profile
Mark Pennington

@Kaleidicworld

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Professor of Political Economy at King's College London; Post-modern Austrian political economist, Foucault Fan, Hayek Fan, classical liberal individualist

Upholland and London
Joined July 2023
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@Kaleidicworld
Mark Pennington
2 days
@MRJKilcoyne It is everywhere - people now routinely pull up near where I live, have a MacDonalds and then just put the left overs in the gutter. The whole country is covered in rubbish.
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@Kaleidicworld
Mark Pennington
2 days
@SohrabAhmari @FeserEdward Yes - we had them in 1970s Britain. Some UK supermarkets such as the Coop are consumer coops today and have been since they were founded - but they aren't known for giving better performance than share-holder enterprises.
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@Kaleidicworld
Mark Pennington
4 days
Absolutely - and according to Hayek, ' Nobody can be a great economist who is only an economist, and I am even tempted to add that the economist who is only an economist is likely to become a nuisance, if not a positive danger.'
@haugejostein
Jostein Hauge
5 days
Karl Marx and Adam Smith surely had their differences, but they approached economics in a similar way. They both understood that economics is not free of value judgements or moral questions. According to Marx and Smith, to be an economist is also to be a philosopher.
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@Kaleidicworld
Mark Pennington
7 days
But Foucault's account of power is a form of emergent order /spont order explanation -though he never uses that term. What he calls 'power' has no centre or headquarters. Rather it emerges as various techniques of control adopted in some venues get imitated, copied and transferred to others forming what looks like a semi-coordinated chain or network. This a big theme in my forthcoming book.
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@Kaleidicworld
Mark Pennington
10 days
@enzoreds Perhaps Enzo - but it is surely a matter of degree - some 'capitalisms' are far less 'crony' than others. See here:
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@Kaleidicworld
Mark Pennington
13 days
@BrandonWarmke Agreed Brandon - a consistently Hayekian position would favor incremental movements to more liberal borders rather than a 'shock therapy' approach.
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@Kaleidicworld
Mark Pennington
15 days
I think size is a factor - but so too are differences in history and culture. You can't compare outcomes in a country with a historical legacy of slavery and indigenous oppression and one which is now perhaps the most multi-cultural in the world -with a country that is as culturally homogenous as Denmark and to a lesser extent Switzerland.
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@Kaleidicworld
Mark Pennington
17 days
'The North' was built on free enterprise and could be again. It requires intelligent policy - improving transport links etc. between cities a la Northern Powerhouse. It doesn't help when commentators continually depict 'the North' as somewhere that can only 'prosper' as an adjunct of the welfare state. The real problem with 'Reform' is that they buy into that declinist narrative as much as Labour and the Conservatives.
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@Kaleidicworld
Mark Pennington
19 days
Peter Bauer's Dissent on Development is hugely relevant and underappreciated. The examples are from a different era but he shatters the twin forces of technocratic scientism in 'development economics' and the simplistic 'anti-economics' of much post-colonial theory in a way forever relevant. Oxfam should be sent a copy
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@Kaleidicworld
Mark Pennington
19 days
Some more details on my forthcoming lecture at LSE.
@LSEpublicevents
LSE Events
19 days
🔎 What are the implications of #MichelFoucault’s critical social theories for how we think about #freedom, power, and #justice? @Kaleidicworld will address this question in this upcoming event. #LSEEvents In person and online. See more 👇
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@Kaleidicworld
Mark Pennington
22 days
The implication of his emphasis on the 'division of knowledge' is that it is never fully aggregated. Price signals never speak for themselves - they require interpretive judgement. Trial and error evolution brings some - though never all of the relevant knowledge into coordination.
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@Kaleidicworld
Mark Pennington
22 days
Here are two: managing complex interactions between different layers of governance to address challenges like climate change/adaptation in a situation where there is no one agency which knows which levers to pull. Limitations to AI owing to its inability to interpret patterns/data as opposed to picking out the relevant patterns.
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@Kaleidicworld
Mark Pennington
24 days
This looks like a terrific event. The entire debate over markets and states in development needs more nuance and this looks like providing some.
@bryancheang_
Bryan Cheang
28 days
📢 Call for Papers: Complexity and Liberalism in Development Studies 📅 Dec 3-5, 2025 | 📍 LSE, STICERD We invite submissions for a symposium on complexity and liberalism in development. Travel & accommodation covered + honoraria for in-person presenters!
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@Kaleidicworld
Mark Pennington
25 days
@dlacalle_IA And still we are told that its a 'neo-liberal' world.
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@Kaleidicworld
Mark Pennington
27 days
Sheilagh Ogilvie is always wonderful to read - I'm looking forward to this one.
@SheilaghOgilvie
Sheilagh Ogilvie
27 days
Happy to say my new book, “Controlling Contagion”, comes out next month. 700 years of tackling pandemics. Not all bad news…
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@Kaleidicworld
Mark Pennington
28 days
@NowakPosadzy Perhaps - but we all have blind spots and that's the reason to have a conversation.
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@Kaleidicworld
Mark Pennington
28 days
@trlgent Indeed - and its a tragedy - but I live in hope.
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