Markets Or Governments Second Edition

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Markets or Governments, second edition

Author : Charles Wolf, Jr.
Publisher : MIT Press
ISBN 13 : 9780262731041
Total Pages : 260 pages
Book Rating : 4.7/5 (31 download)

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Book Synopsis Markets or Governments, second edition by : Charles Wolf, Jr.

Download or read book Markets or Governments, second edition written by Charles Wolf, Jr. and published by MIT Press. This book was released on 1993-09-02 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. A theory of market failures is well established in economics, but the same has not been true for the study of nonmarket failures. Markets or Governments remedies this situation by providing a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government. This new edition updates the data and results contained in the first edition and includes references and applications of the theory to the ongoing process of system transformation in Russia, Ukraine, and Eastern Europe. The discussion of earlier literature that is relevant to the theory of nonmarket failure has been expanded.

Markets Or Governments

Author : Charles Wolf
Publisher : MIT Press (MA)
ISBN 13 : 9780262231343
Total Pages : 220 pages
Book Rating : 4.2/5 (313 download)

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Book Synopsis Markets Or Governments by : Charles Wolf

Download or read book Markets Or Governments written by Charles Wolf and published by MIT Press (MA). This book was released on 1988-01-01 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic studies historically have either extolled the virtues of perfect markets or decried the market's shortcomings, proposing that governments correct market failure. This book proposes as a counterweight to these views a theory of nonmarket failure, and examines in great detail the shortcomings of government efforts to replace or to regulate markets. It is an unusually thorough analysis that can be used to make more systematic comparisons between markets and governments and to arrive at more intelligent choices between them.After reviewing the existing theory of market shortcomings, Wolf develops a parallel framework for analyzing the shortcomings of government, elaborating the inherent characteristics of government operations and the problems they present. He then considers how these predictable types of nonmarket failure can be taken into account in improving the formulation of public policy. And he compares market and nonmarket alternatives, both in their theoretical and empirical aspects.Wolf concludes that, while both markets and governments have inherent shortcomings, and the choice between them is never a pure one (real-world situations always involve some combination of the two alternatives), markets do a better job than governments. They are more efficient according to both static and dynamic criteria. With respect to equity and other non-efficiency considerations, however, both markets and governments have strengths and weaknesses. Finally, Wolf points out that government can play an important role in improving and extending the functioning of markets. And, perhaps most controversially, he argues that market forces themselves can play an important role in improving thefunctioning of government. They can reduce the incidence of nonmarket failure by injecting market incentives into government operations.Charles Wolf, Jr. is Dean of the RAND Graduate School of Policy Studies and director of the RAND Corporation's Research Program in International Economic Policy. He was chairman of RAND's Economics Department for 12 years, and has written widely in the fields of economics, defense policy, and foreign policy. A RAND Corporation Research Study.

Markets Or Governments

Author : Charles Wolf (Jr.)
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)

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Book Synopsis Markets Or Governments by : Charles Wolf (Jr.)

Download or read book Markets Or Governments written by Charles Wolf (Jr.) and published by . This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Government's Place in the Market

Author : Eliot Spitzer
Publisher : MIT Press
ISBN 13 : 0262295113
Total Pages : 96 pages
Book Rating : 4.2/5 (622 download)

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Book Synopsis Government's Place in the Market by : Eliot Spitzer

Download or read book Government's Place in the Market written by Eliot Spitzer and published by MIT Press. This book was released on 2011-04-18 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his first book, the former New York governor and current CNN cohost offers a manifesto on the economy and the public interest. As New York State Attorney General from 1998 to 2006, Eliot Spitzer successfully pursued corporate crime, including stock price inflation, securities fraud, and predatory lending practices. Drawing on those experiences, in this book Spitzer considers when and how the government should intervene in the workings of the market. The 2009 American bank bailout, he argues, was the wrong way: it understandably turned government intervention into a flashpoint for public disgust because it socialized risk, privatized benefit, and left standing institutions too big to fail, incompetent regulators, and deficient corporate governance. That's unfortunate, because good regulatory policy, he claims, can make markets and firms work efficiently, equitably, and in service of fundamental public values. Spitzer lays out the right reasons for government intervention in the market: to guarantee transparency, to overcome market failures, and to guard our core values against the market's unfair biases such as racism. With specific proposals to serve those ends—from improving corporate governance to making firms responsible for their own risky behavior—he offers a much-needed blueprint for the proper role of government in the market. Finally, taking account of regulatory changes since the crash of 2008, he suggests how to rebuild public trust in government so real change is possible. Responses to Spitzer by Sarah Binder, Andrew Gelman, and John Sides, Dean Baker, and Robert Johnson, raise issues of politics, ideology, and policy.

Markets and the Environment, Second Edition

Author : Nathaniel O. Keohane
Publisher : Island Press
ISBN 13 : 1610916077
Total Pages : 328 pages
Book Rating : 4.6/5 (19 download)

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Book Synopsis Markets and the Environment, Second Edition by : Nathaniel O. Keohane

Download or read book Markets and the Environment, Second Edition written by Nathaniel O. Keohane and published by Island Press. This book was released on 2016-01-05 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A clear grasp of economics is essential to understanding why environmental problems arise and how we can address them. ... Now thoroughly revised with updated information on current environmental policy and real-world examples of market-based instruments .... The authors provide a concise yet thorough introduction to the economic theory of environmental policy and natural resource management. They begin with an overview of environmental economics before exploring topics including cost-benefit analysis, market failures and successes, and economic growth and sustainability. Readers of the first edition will notice new analysis of cost estimation as well as specific market instruments, including municipal water pricing and waste disposal. Particular attention is paid to behavioral economics and cap-and-trade programs for carbon."--Publisher's web site.

States and Markets

Author : Susan Strange
Publisher : A&C Black
ISBN 13 : 9780826473899
Total Pages : 284 pages
Book Rating : 4.4/5 (738 download)

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Book Synopsis States and Markets by : Susan Strange

Download or read book States and Markets written by Susan Strange and published by A&C Black. This book was released on 1998-04-30 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Introduction to International Political Economy Susan Strange, formerly University of Warwick. Professor Strange was well known for her unorthodox and stimulating views on the international political economy. Here she provides the student and scholar with a new model synthesising politics and economics by means of a four-faceted structural analysis of the effects of any kind of political authority (including states) on markets, and, conversely, of market forces on states. This refreshingly new framework of analysis is an ideal introductory text.

Marketcraft

Author : Steven K. Vogel
Publisher : Oxford University Press
ISBN 13 : 0190699876
Total Pages : 256 pages
Book Rating : 4.1/5 (96 download)

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Book Synopsis Marketcraft by : Steven K. Vogel

Download or read book Marketcraft written by Steven K. Vogel and published by Oxford University Press. This book was released on 2018-02-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern-day markets do not arise spontaneously or evolve naturally. Rather they are crafted by individuals, firms, and most of all, by governments. Thus "marketcraft" represents a core function of government comparable to statecraft and requires considerable artistry to govern markets effectively. Just as real-world statecraft can be masterful or muddled, so it is with marketcraft. In Marketcraft, Steven Vogel builds his argument upon the recognition that all markets are crafted then systematically explores the implications for analysis and policy. In modern societies, there is no such thing as a free market. Markets are institutions, and contemporary markets are all heavily regulated. The "free market revolution" that began in the 1980s did not see a deregulation of markets, but rather a re-regulation. Vogel looks at a wide range of policy issues to support this concept, focusing in particular on the US and Japan. He examines how the US, the "freest" market economy, is actually among the most heavily regulated advanced economies, while Japan's effort to liberalize its economy counterintuitively expanded the government's role in practice. Marketcraft demonstrates that market institutions need government to function, and in increasingly complex economies, governance itself must feature equally complex policy tools if it is to meet the task. In our era-and despite what anti-government ideologues contend-governmental officials, regardless of party affiliation, should be trained in marketcraft just as much as in statecraft.

The Institutional Revolution

Author : Douglas W. Allen
Publisher : University of Chicago Press
ISBN 13 : 0226014762
Total Pages : 282 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis The Institutional Revolution by : Douglas W. Allen

Download or read book The Institutional Revolution written by Douglas W. Allen and published by University of Chicago Press. This book was released on 2011-10-25 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few events in the history of humanity rival the Industrial Revolution. Following its onset in eighteenth-century Britain, sweeping changes in agriculture, manufacturing, transportation, and technology began to gain unstoppable momentum throughout Europe, North America, and eventually much of the world—with profound effects on socioeconomic and cultural conditions. In The Institutional Revolution, Douglas W. Allen offers a thought-provoking account of another, quieter revolution that took place at the end of the eighteenth century and allowed for the full exploitation of the many new technological innovations. Fundamental to this shift were dramatic changes in institutions, or the rules that govern society, which reflected significant improvements in the ability to measure performance—whether of government officials, laborers, or naval officers—thereby reducing the role of nature and the hazards of variance in daily affairs. Along the way, Allen provides readers with a fascinating explanation of the critical roles played by seemingly bizarre institutions, from dueling to the purchase of one’s rank in the British Army. Engagingly written, The Institutional Revolution traces the dramatic shift from premodern institutions based on patronage, purchase, and personal ties toward modern institutions based on standardization, merit, and wage labor—a shift which was crucial to the explosive economic growth of the Industrial Revolution.

The Limits of the Market

Author : Paul de Grauwe
Publisher : Oxford University Press
ISBN 13 : 0198784287
Total Pages : 182 pages
Book Rating : 4.1/5 (987 download)

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Book Synopsis The Limits of the Market by : Paul de Grauwe

Download or read book The Limits of the Market written by Paul de Grauwe and published by Oxford University Press. This book was released on 2017 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The old discussion of 'Market or State' is obsolete. There will always have to be a mix of market and state. The only relevant question is what that mix should look like. How far do we have to let the market go its own way in order to create as much welfare as possible for everyone? What is the responsibility of the government in creating welfare? These are difficult questions. But they are also interesting questions and Paul De Grauwe analyses them in this book. The desired mix of market and state is anything but easy to bring about. It is a difficult and sometimes destructive process that is constantly in motion. There are periods in history in which the market gains in importance. During other periods the opposite occurs and government is more dominant. The turning points in this pendulum swing typically seem to coincide with disruptive events that test the limits of market and state. Why we experience this dynamic is an important theme in the book. Will the market, which today is afforded a greater and greater role due to globalization, run up against its limits? Or do the financial crisis and growing income inequality show that we have already reached those limits? Do we have to brace ourselves for a rejection of the capitalist system? Are we returning to an economy in which the government is running the show?

Free Market Economics, Second Edition

Author : Steven Kates
Publisher : Edward Elgar Publishing
ISBN 13 : 1782547975
Total Pages : 440 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis Free Market Economics, Second Edition by : Steven Kates

Download or read book Free Market Economics, Second Edition written by Steven Kates and published by Edward Elgar Publishing. This book was released on 2014-09-26 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: n this thoroughly updated second edition of Free Market Economics, Steven Kates assesses economic principles based on classical economic theory before Keynesian theory became dominant in macroeconomics and equilibrium analysis became standard in microe

Clashing Over Commerce

Author : Douglas A. Irwin
Publisher : University of Chicago Press
ISBN 13 : 022639901X
Total Pages : 873 pages
Book Rating : 4.2/5 (263 download)

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Book Synopsis Clashing Over Commerce by : Douglas A. Irwin

Download or read book Clashing Over Commerce written by Douglas A. Irwin and published by University of Chicago Press. This book was released on 2017-11-29 with total page 873 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs

Economics for Humans

Author : Julie A. Nelson
Publisher : University of Chicago Press
ISBN 13 : 022646394X
Total Pages : 256 pages
Book Rating : 4.2/5 (264 download)

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Book Synopsis Economics for Humans by : Julie A. Nelson

Download or read book Economics for Humans written by Julie A. Nelson and published by University of Chicago Press. This book was released on 2018-12-11 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: At its core, an economy is about providing goods and services for human well-being. But many economists and critics preach that an economy is something far different: a cold and heartless system that operates outside of human control. In this impassioned and perceptive work, Julie A. Nelson asks a compelling question: given that our economic world is something that we as humans create, aren’t ethics and human relationships—dimensions of a full and rich life—intrinsically part of the picture? Economics for Humans argues against the well-ingrained notion that economics is immune to moral values and distant from human relationships. Here, Nelson locates the impediment to a more considerate economic world in an assumption that is shared by both neoliberals and the political left. Despite their seemingly insurmountable differences, both make use of the metaphor, first proposed by Adam Smith, that the economy is a machine. This pervasive idea, Nelson argues, has blinded us to the qualities that make us work and care for one another—qualities that also make businesses thrive and markets grow. We can wed our interest in money with our justifiable concerns about ethics and social well-being. And we can do so if we recognize that an economy is not a machine, but a living thing in need of attention and careful tending. This second edition has been updated and refined throughout, with expanded discussions of many topics and a new chapter that investigates the apparent conflict between economic well-being and ecological sustainability. Further developing the main points of the first edition, Economics for Humans will continue to both invigorate and inspire readers to reshape the way they view the economy, its possibilities, and their place within it.

States and Markets

Author : Susan Strange
Publisher : Bloomsbury Publishing
ISBN 13 : 1474236944
Total Pages : 305 pages
Book Rating : 4.4/5 (742 download)

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Book Synopsis States and Markets by : Susan Strange

Download or read book States and Markets written by Susan Strange and published by Bloomsbury Publishing. This book was released on 2015-10-29 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: '[States and Markets] should be read by every student of international political economy.' - International Relations Theory. Susan Strange was one of the most influential international relations scholars of the latter half of the twentieth century. She is regarded by many as the creator of the discipline of international political economy (IPE) and leaves behind an impressive body of work. States and Markets is one of Strange's seminal texts. Strange Introduces the reader to a unique critical model for understanding the relationship between politics and economics centred on her four-faceted model of power consisting of: security, production, finance and knowledge. Using these terms Strange provides a rigorous analysis of the effects of political authority, including states, on markets and conversely of market forces on states. The Revelations edition includes a new foreword by Ronen Palan.

Simpler

Author : Cass R. Sunstein
Publisher : Simon and Schuster
ISBN 13 : 1476726612
Total Pages : 272 pages
Book Rating : 4.4/5 (767 download)

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Book Synopsis Simpler by : Cass R. Sunstein

Download or read book Simpler written by Cass R. Sunstein and published by Simon and Schuster. This book was released on 2013-04-09 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simpler government arrived four years ago. It helped put money in your pocket. It saved hours of your time. It improved your children’s diet, lengthened your life span, and benefited businesses large and small. It did so by issuing fewer regulations, by insisting on smarter regulations, and by eliminating or improving old regulations. Cass R. Sunstein, as administrator of the most powerful White House office you’ve never heard of, oversaw it and explains how it works, why government will never be the same again (thank goodness), and what must happen in the future. Cutting-edge research in behavioral economics has influenced business and politics. Long at the forefront of that research, Sunstein, for three years President Obama’s “regulatory czar” heading the White House Office of Information and Regulatory Affairs, oversaw a far-reaching restructuring of America’s regulatory state. In this highly anticipated book, Sunstein pulls back the curtain to show what was done, why Americans are better off as a result, and what the future has in store. The evidence is all around you, and more is coming soon. Simplified mortgages and student loan applications. Scorecards for colleges and universities. Improved labeling of food and energy-efficient appliances and cars. Calories printed on chain restaurant menus. Healthier food in public schools. Backed by historic executive orders ensuring transparency and accountability, simpler government can be found in new initiatives that save money and time, improve health, and lengthen lives. Simpler: The Future of Government will transform what you think government can and should accomplish.

Coalition Politics and Economic Development

Author : Irfan Nooruddin
Publisher : Cambridge University Press
ISBN 13 : 1139494023
Total Pages : 267 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Coalition Politics and Economic Development by : Irfan Nooruddin

Download or read book Coalition Politics and Economic Development written by Irfan Nooruddin and published by Cambridge University Press. This book was released on 2010-12-02 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coalition Politics and Economic Development challenges the conventional wisdom that coalition government hinders necessary policy reform in developing countries. Irfan Nooruddin presents a fresh theory that institutionalized gridlock, by reducing policy volatility and stabilizing investor expectations, is actually good for economic growth. Successful national economic performance, he argues, is the consequence of having the right configuration of national political institutions. Countries in which leaders must compromise to form policy are better able to commit credibly to investors and therefore enjoy higher and more stable rates of economic development. Quantitative analysis of business surveys and national economic data together with historical case studies of five countries provide evidence for these claims. This is an original analysis of the relationship between political institutions and national economic performance in the developing world and will appeal to scholars and advanced students of political economy, economic development and comparative politics.

Markets and States in Tropical Africa

Author : Robert H. Bates
Publisher : Univ of California Press
ISBN 13 : 0520282566
Total Pages : 216 pages
Book Rating : 4.5/5 (22 download)

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Book Synopsis Markets and States in Tropical Africa by : Robert H. Bates

Download or read book Markets and States in Tropical Africa written by Robert H. Bates and published by Univ of California Press. This book was released on 2014-04-12 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following independence, most countries in Africa sought to develop, but their governments pursued policies that actually undermined their rural economies. Examining the origins of Africa’s “growth tragedy,” Markets and States in Tropical Africa has for decades shaped the thinking of practitioners and scholars alike. Robert H. Bates’s analysis now faces a challenge, however: the revival of economic growth on the continent. In this edition, Bates provides a new preface and chapter that address the seeds of Africa’s recovery and discuss the significance of the continent’s success for the arguments of this classic work.

Why Globalization Works

Author : Martin Wolf
Publisher : Yale University Press
ISBN 13 : 0300251734
Total Pages : 690 pages
Book Rating : 4.3/5 (2 download)

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Book Synopsis Why Globalization Works by : Martin Wolf

Download or read book Why Globalization Works written by Martin Wolf and published by Yale University Press. This book was released on 2005-06-10 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: A powerful case for the global market economy The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization’s critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multinational corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone.