Economization: The (re-) organization of knowledge and ignorance according to'the market'. Steffestun, T. & Ötsch, W. O. ephemera: theory & politics in organization, 23(1):135–159, 2023.
abstract   bibtex   
How societies can answer crises depends - among other things - on their organization of knowledge and ignorance. In the case of societies in which processes of economization are present this organization is significantly shaped by the concept of ‘the market’ and corresponding economic theories. The paper analyses the epistemic organization of knowledge and ignorance in processes of economization that are based on the concept of ‘the market’ as it is interpreted by Friedrich A. Hayek. Furthermore, it provides a conceptual framework of four characteristics intended to differentiate economic theories regarding their suitability as foundations for economization. The analysis indicates that economization is an act of epistemic imperialism, subsuming the diversity of reality under one singular concept – ‘the market’ – that knows no boundaries, while complementarily disqualifying knowledge of those boundaries as illegitimate. The study concludes with an outlook on the implications of that knowledge lost to economization and suggests a first step to re-organize knowledge and ignorance in economized contexts.
@article{steffestun2023,
	title = {Economization: {The} (re-) organization of knowledge and ignorance according to'the market'.},
	volume = {23},
	abstract = {How societies can answer crises depends - among other things - on their organization of knowledge and ignorance. In the case of societies in which processes of economization are present this organization is significantly shaped by the concept of ‘the market’ and corresponding economic theories. The paper analyses the epistemic organization of knowledge and ignorance in processes of economization that are based on the concept of ‘the market’ as it is interpreted by Friedrich A. Hayek. Furthermore, it provides a conceptual framework of four characteristics intended to differentiate economic theories regarding their suitability as foundations for economization. The analysis indicates that economization is an act of epistemic imperialism, subsuming the diversity of reality under one singular concept – ‘the market’ – that knows no boundaries, while complementarily disqualifying knowledge of those boundaries as illegitimate. The study concludes with an outlook on the implications of that knowledge lost to economization and suggests a first step to re-organize knowledge and ignorance in economized contexts.},
	number = {1},
	journal = {ephemera: theory \& politics in organization},
	author = {Steffestun, T. and Ötsch, W. O.},
	year = {2023},
	pages = {135--159},
}

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