Occasional Papers
The End of Chaos: Global Markets and the Information Era
Governments have long pursued policies that determined the degree to which markets have been permitted to operate. But in the 1999 John Bonython Lecture, Jerry Jordan suggests that markets will, paradoxically enough, be at the heart of a new order of the 21st Century- an age of markets.
In this Occasional Paper, Jordan argues that the 1980s represented a watershed: the beginning of the withdrawal of the state from economic affairs. He also contends that the state’s role in the future will be to nurture the economic garden by establishing all the necessary prerequisites for market economies to grow. Those governments who fail to realise this, Jordan claims, will in any event find themselves disciplined by global markets.
