Download or read book Hayek and the Evolution of Capitalism written by Naomi Beck and published by University of Chicago Press. This book was released on 2018-06-21 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few economists can claim the influence—or fame—of F. A. Hayek. Winner of the Nobel Prize, Hayek was one of the most consequential thinkers of the twentieth century, his views on the free market echoed by such major figures as Ronald Reagan and Margaret Thatcher. Yet even among those who study his work in depth, few have looked closely at his use of ideas from evolutionary science to advance his vision of markets and society. With this book Naomi Beck offers the first full-length engagement with Hayek’s thought from this perspective. Hayek argued that the capitalism we see in advanced civilizations is an unintended consequence of group selection—groups that adopted free market behavior expanded more successfully than others. But this attempt at a scientific grounding for Hayek’s principles, Beck shows, fails to hold water, plagued by incoherencies, misinterpretations of the underlying science, and lack of evidence. As crises around the globe lead to reconsiderations of the place of capitalism, Beck’s excavation of this little-known strand of Hayek’s thought—and its failure—is timely and instructive.

Download or read book Capitalism written by Bruce R. Scott and published by Springer Science & Business Media. This book was released on 2011-10-02 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two systems of governance, capitalism and democracy, prevail in the world today. Operating simultaneously in partially distinct domains, these systems rely on indirect governance through regulated competition to coordinate actors; inevitably, these systems influence and transform each other. This book rejects the simple equation of capitalism with markets in favor of a three-level system, a model which recognizes that markets are administered by regulators through institutions and governed by a political authority with the power to regulate behavior, punish transgressors, and redesign institutions. This system's emergence required the sovereign to relinquish some power in order to release the energies of economic actors. Rather than spreading through an unguided natural process like trade, capitalism emerged where competitive pressures forced political authorities to take risks in order to achieve increased revenues by permitting markets for land, labor, and capital.

Download or read book Capitalism in Evolution written by Geoffrey Martin Hodgson and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: '. . . this collection will be useful to economic and business historians in reminding them that capitalism is not a monolithic and unvarying economic system.' - Gail D. Triner, Business History 'Although so many collections of essays such as the one at hand are eclectic and boring, this is clearly an exception. The strength of the volume resides in the fact that it establishes a dialogue among all the authors on the roots of globalization and what the editors call "the precariousness of world markets".' - Francisco Louçã, Journal of Evolutionary Economics For much of the twentieth century, rivalry existed between centrally planned and capitalist solutions to the problems of economic stability and growth. This changed in the 1990s. In that same decade, the period of rapid growth of the Japanese economy came to an end and by the close of the century, the American model of capitalism was seen as the only possible option.

Download or read book Conceptualizing Capitalism written by Geoffrey M. Hodgson and published by University of Chicago Press. This book was released on 2016-09-09 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capitalism is the dominant economic framework in modern history, but it s unclear how it really works. Relying on the free movement and spontaneous coordination of seemingly infinitesimal market forces, its very essence is remarkably complex. Geoffrey M. Hodgson offers a more precise conceptual framework, defines the concepts involved, and illustrates that what is most important, and what has been most often overlooked, are institutions and contractsthe law. Chapter by chapter, Hodgson focuses in on how capitalism works at its very core to develop his own definitive theory of capitalism. By employing economic history and comparative analysis toward explanatory and analytical ends, Hodgson shows how capitalism is not an eternal or natural order, but indeed a relatively recent institution. If anyone were qualified to venture such a comprehensive and definitive analysis of such an important economic, legal, and social phenomenon, it is Geoffrey Hodgson. "Conceptualizing Capitalism" will significantly alter and carry forward our understanding of markets and how they work."

Download or read book Institutions and Evolution of Capitalism written by Francesca Gagliardi and published by Edward Elgar Publishing. This book was released on 2019 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: In just over 30 years, Geoff Hodgson has made substantial contributions to institutional economics, evolutionary economics, economic methodology, the history of economic thought and social theory. To mark his seminal work, this volume brings together original contributions by world-leading scholars in specific areas that have played a significant role in influencing his thinking or represent key debates to which he has contributed. Building on some of the most significant philosophical and methodological foundations underlying Hodgson's work, the volume is organised around the recurring themes of institutions, evolution and capitalism.

Download or read book Economy and Society written by R. R. Suresh and published by SAGE Publications Pvt. Limited. This book was released on 2010-09-08 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The textbook explains the emergence, evolution, and working of the capitalist system with the help of some of the major principles and theories of economics. It interrelates economics and economic life with other aspects of our lives—social, cultural, political, religious, and intellectual. This book departs from the traditional analysis of the capitalist system in integrating the real sector of the economy with its monetary sector and carries forward Keynes' analysis. It underlines that the capitalist system is constantly changing, propelled by the tendency towards increasing concentration of ownership and control of the means of production in fewer and fewer hands.

Download or read book Ages of American Capitalism written by Jonathan Levy and published by Random House Trade Paperbacks. This book was released on 2022-04-05 with total page 945 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economic historian traces the evolution of American capitalism from the colonial era to the present—and argues that we’ve reached a turning point that will define the era ahead. “A monumental achievement, sure to become a classic.”—Zachary D. Carter, author of The Price of Peace In this ambitious single-volume history of the United States, economic historian Jonathan Levy reveals how capitalism in America has evolved through four distinct ages and how the country’s economic evolution is inseparable from the nature of American life itself. The Age of Commerce spans the colonial era through the outbreak of the Civil War, and the Age of Capital traces the lasting impact of the industrial revolution. The volatility of the Age of Capital ultimately led to the Great Depression, which sparked the Age of Control, during which the government took on a more active role in the economy, and finally, in the Age of Chaos, deregulation and the growth of the finance industry created a booming economy for some but also striking inequalities and a lack of oversight that led directly to the crash of 2008. In Ages of American Capitalism, Levy proves that capitalism in the United States has never been just one thing. Instead, it has morphed through the country’s history—and it’s likely changing again right now. “A stunning accomplishment . . . an indispensable guide to understanding American history—and what’s happening in today’s economy.”—Christian Science Monitor “The best one-volume history of American capitalism.”—Sven Beckert, author of Empire of Cotton

Download or read book Saving Capitalism and Democracy written by M. Rabie and published by Palgrave Macmillan. This book was released on 2013-05-02 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Saving Capitalism and Democracy tries to answer the difficult questions posed by intellectuals, the media, politicians, students and ordinary people concerning the crisis and how to avert an impending catastrophe.

Download or read book The Diversity Complexity and Evolution of High Tech Capitalism written by Sten A. Thore and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his book "Jurassic Park" (and in the movie based on the book), Michael Crichton describes a crazed professor who through techniques of genetic engineering manages to recreate the dinosaurs and giant ferns of 65 million years past. Once the giant Tyrannosaurus Rex is brought to life. a powerful dynamics sets in: evolution. The prehistoric world embarks on a collision course with man. Researching his book, Crichton had been reading up on paleontology and on the mathematical theory of evolution, catastrophes, and chaos. Crichton explains some of the twists of nonlinear mathematics that are rewriting not only thermodynamics, physics, and chemistry (that all grapple with evolving and turbulent processes) but also paleontology, genetics, medicine and even anthropology. Collapse and chaos is not limited to prehistoric animal kingdoms and ancient civilizations. The collapse of the Soviet Union and the political and economic chaos in its aftermath demonstrate that modern civilizations are just as vulnerable. This book aims at reexamining some main portions of the discipline of economics from the point of view of economic change and creativity. There are two aspects to this perspective. First, diversity and complexity. The range of different kinds of high technology products available to consumers and producers increases rapidly. Each product is the result of a long and complex production hierarchy. As these hierarchies grow, they deliver ever more diversified and complex high tech goods. Other hierarchies fall by the wayside.

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Download or read book The Evolution of Economic Systems written by Barry Stewart Clark and published by Oxford University Press, USA. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most current text of its kind, The Evolution of Economic Systems: Varieties of Capitalism in the Global Economy explores the effects of politics and culture on the nature of national economic systems. Author Barry Clark distills recent academic work in such areas as comparative political economy, varieties of capitalism, new and old institutional economics, new economic sociology, and social systems of production, presenting the material in a conversational manner that makes it accessible for undergraduate students.

Download or read book Stakeholder Capitalism written by Klaus Schwab and published by John Wiley & Sons. This book was released on 2021-01-27 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.

Download or read book Inequality and Evolution written by Charles L. Ladner and published by Xlibris Corporation. This book was released on 2020-12-01 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1976, there were 38 countries, comprising nearly 50% of the world’s population that self-identified as socialist states, yet by 1991, only one remained. In 1976, the annual GDP per capita of the 38 socialist countries (in inflation adjusted dollars) averaged approximately $5 thousand. By 1990 it had grown to about $8 thousand. During that same period, the GDP per capita, in comparable numbers, for the United States grew from $24 thousand to $36 thousand. The socialist countries never grew their per capita income to more than 22% of the United States. Even China, which today has an economy almost as large as the United States, never saw its per capita GDP grow beyond $2 thousand per year during the twenty-eight year period as a socialist state under Mao Zedong. But, after the death of Mao, China converted its economy to the capitalist model with spectacular success, lifting a billion people out of poverty and challenging the United States for worldwide economic supremacy-an outcome that would have been unthinkable under socialism. Why has capitalism proven to be such an extraordinary success and socialism such a miserable failure? Charles Ladner argues that the success or failure of economic systems can be traced to the degree to which such systems are congruent with the primal force of evolutionary natural selection. This is the most fundamental need of every living thing to survive and reproduce. He encapsulate these forces into the term: selfishness. Capitalism, he finds, is grounded in such selfishness or self-interest, and therefore is fully congruent with the biological needs which provide the aspirational motivation that cause capitalism at all times and in every place, to be successful. Socialism, on other hand, requires and cannot function without, authoritarian rule to suppress expressions of self-interest. Its operation at the level of the state, serves to frustrate the biological needs and thereby will always produce poverty and failure. The historical record, he says, categorically demonstrates this. Capitalism, however, has a fatal flaw, and that is its inability to restrain the expression of selfishness, which ultimately leads to such extremes of wealth and income inequality that the system can self-destruct. In the final chapters, Ladner offers possible remedies for the United States, which he believes is already in the very early stages of such self-destruction.

Download or read book The Evolution of Capitalism written by and published by . This book was released on with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Institutions and the Evolution of Capitalism written by European Association for Evolutionary Political Economy and published by Edward Elgar Publishing. This book was released on 1999 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work asks, What is the role of the entrepreneur in capitalist societies?, and, How effective are technological policies in changing institutions?, along with, Are the economic systems of the USA, Europe and Asia converging'. The theoretical foundations of capitalism are examined.

Download or read book Breaking the Chains of Capitalism written by Marco D'Anna and published by . This book was released on 2015-11-18 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers for consideration an integrated social economic structure and technical solution capable of ending the predatory evolution of our species. This book also explains the primary factor responsible for the most preventable suffering and death throughout the evolutionary development of our species and how to correct this dysfunction at its source. It also describes how our species is undergoing a natural evolutionary transition from creatures still under the control of our predatory instincts into enlightened beings capable of creating technically advanced societies free of social economic competition for survival. This book explains how subjective realities are induced as a powerful form of psychological manipulation and used to control the working class populations for thousands of years. It also describes how the effects of artificial selection have altered the intellectual evolutionary development of our species to make our systematic exploitation under capitalism seem like an acceptable social economic system. The integrated solution in this book describes the creation of an automated community infrastructure capable of supporting a self-replicating technically advanced predator free society. The solution also offers exponential growth of a global network allowing more families to end their predatory competition for survival and start helping others wanting to make the transition.

Download or read book The Concept of Capitalism written by Bruce R. Scott and published by Springer Science & Business Media. This book was released on 2009-08-12 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: his monograph on the concept of capitalism is the intellectual core of a larger work, entitled Capitalism, Its Origins and Evolution as Ta System of Governance, due for publication November 2009. The purpose of this monograph is to put forth an original concept of ca- talism as a system of governance, including a theory of how it functions at any point in time and how it evolves through time. In the larger book, I present a theory of its origins and evolution and support this theory with a set of country case studies that span both time and geography. It was, in fact, my experience in studying these case studies that led me to the c- cept presented here as well as to the theory of capitalism’s origins and e- lution. In the larger book, I build on the present work, identifying and expla- ing capitalism as a system of governance for political entities such as - tion states. I then supplement these ideas with a description and expla- tion of three generic economic strategies. Taken together, my studies of economic strategies and specific capitalist systems of governance are - tended to enhance and enrich existing literature on “varieties of capit- ism”.