Collective‐unconscious apologetics of plutocracy and oligarchy: Chicago economics' ideological preferences revealed by the sociology of knowledge

Abstract

AbstractThe article places and analyzes the Chicago school of economics within the framework of Mannheim's sociology of knowledge or ideas that posits and documents social determinants of ideas and ideologies. This framework reveals the Chicago school as the explicit or implicit ideology and utopia of plutocracy, oligarchy and aristocracy in the sense of apologetics of these social classes and/or systems, thus being the class form of ‘apologetic economics’. Specifically, first, Chicago economics reveals itself as the collective‐unconscious apologetics of plutocracy, oligarchy and aristocracy. Second, it appears as the ‘collective‐conscious’ apologetics in this respect. In addition, it come close to the mostly covert collective‐unconscious or conscious apologetics of theocracy and fascism. The article aims to contribute to a better understanding of the social, in particular class, factors of Chicago and related schools of economics and generally of economic ideas, theories and policies by applying Mannheim's sociology of knowledge, especially its emphasis on the collective unconscious as the source of ideology.