W. H. Hutt and the Conceptualization of Consumers’ Sovereignty

Abstract

This article examines the meaning of consumers’ sovereignty in the interwar thought of the economist William Harold Hutt. For Hutt, consumers’ sovereignty was an ideal, a norm against which economists could assess different economic systems. It connected the value of individual freedom, the commitment to a market society and an appeal to a liberal democracy. By coining the expression of consumers’ sovereignty, Hutt operated a creative redescription of the Millian idea of individual sovereignty which reflected the rise of the figure of the consumer in the public space. Hutt’s vision had been forged by the teaching he received at the London School of Economics and his involvement in the Individualist movement in the 1920s.

Keywords: consumers' sovereignty, consumer's sovereignty, W. H. Hutt, liberalism, neoliberalism, London School of Economics

JEL Classification: B20, P10, P20, A12