Abstract
The article discusses the existence of free will in the free market. The purpose of this article is to show how the free market restricts free will through the fashion effect and how an illusion of freedom is created. The article puts forward a hypothesis, which says that the market, especially the theoretical concept of the free market, limits free will. However, it gives a sense of freedom, which is a delusion. The authors see and describe an existence of a fashion effect as an example of degeneration of the free market. Fashion effect is one of the free-market processes – it uses the psychological mechanisms of seduction; first to sensual, and then intellectual – i.e., the biblical description of the seduction in Eden. In the degenerating free market, the goods are not required to possess practical aspects; however, they need to provoke internal conflicts.
Highlights
The concept of free will is one of the most important concepts in European culture, which describes ‘human nature’ (Augustine, 2010)
The main idea of the role of free will in the economy is as old as the discussion on the role of institutions in social life, and almost as old as the clash of two concepts that led to the creation of the free market and centrally planned economy
What happens in the context of the impact of market mechanisms on the human psyche? If these mechanisms are focused on the specific nature of human free choices, is it justified to speak about individual freedom of choice? The collateral effects of the degenerating free market create the culture of consumerism
Summary
The concept of free will is one of the most important concepts in European culture, which describes ‘human nature’ (Augustine, 2010). It provides a significant build-up for practices of public life. In reality, the institutional nexus gradually progresses towards concepts served by Plato, More, Campanella, Rousseau and Marx – where the economy is controlled only by a narrow group of individuals. This institutional nexus is built upon the assumption that
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