Download or read book Market relations and the competitive process written by Stan Metcalfe and published by Manchester University Press. This book was released on 2018-07-30 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This electronic version has been made available under a Creative Commons (BY-NC-ND) open access license. There has been increasing interest and debate in recent years on the instituted nature of economic processes in general and the related ideas of the market, in particular the competitive process. This debate lies at the interface between two largely independent disciplines, economics and sociology, and reflects an attempt to bring the two fields of discourse more closely together. This book explores this interface in a number of ways, looking at the competitive process and market relations from a number of different perspectives. It includes a wide range of contributors, most of whom are leading writers and thinkers in the field. The book considers the social role of economic institutions in society and examines the various meanings embedded in the word 'markets', as well as developing arguments on the nature of competition as an instituted economic process, rather than as competition being something that disturbs norms or institutions. It goes on to consider the deeper and more involved connection between markets and cognition, explaining how institutions can ease cognitive difficulties, and the effect of culture on markets and competition is also fully studied. This book will be of vital use to students and academics working in the fields of economics, sociology and business studies. It sketches the agenda for future research about markets and the competitive process.
Download or read book Institutional Competition written by Andreas Bergh and published by Edward Elgar Publishing. This book was released on 2008-01-01 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has much to commend it, because of the richness and diversity of the issues addressed. Indira Rajaraman, Tax Justice Focus The volume offers substantial insights into the nature of institutional competition, focusing mostly on governmental institutions, and shows the many subtleties in understanding and analyzing the role of institutions. Institutional competition is a small subset of institutional analysis, but an important one, and while the volume does cover the more familiar tax and expenditure topics, it also delves more deeply into the subject. Randall G. Holcombe, Public Choice While economists typically praise the merits of competition among market-based enterprises, they are not so sure when it comes to competition among institutions, especially governments. I am aware of no better source for thoughtful reflection on competition among institutions than the ten essays presented in this book. Richard E. Wagner, George Mason University, US Why is competition between institutions usually viewed in a negative light, when competition is considered positive in most other economic contexts? The contributors to this volume introduce new perspectives on this issue, analytically and empirically exploring reasons for this perception. Negative assessments of institutional competition emphasize that such competition may lead to a race to the bottom in terms of eroding government revenues, redistributing wealth from workers to capitalists, and limiting democracy by forcing politicians to prioritize international investment capital rather than working for their voters. In this volume, however, many of the essays draw attention to the positive learning and information effects. The contributors conclude that competition may actually lead to institutions becoming more efficient in allocating resources. Students and scholars of economics, political economy, international relations and political science will find the book s non-traditional take on institutional competition a must-read, as will policy analysts and those with an interest in taxation and welfare states.
Download or read book Competition among Institutions written by Luder Gerken and published by Springer. This book was released on 1996-01-12 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists generally accept that competition discloses knowledge, enhances efficiency and restrains power. However, these effects of competition have so far been discussed mainly with respect to economic markets in which firms and households compete within a given set of institutions, that is within a given legal order. The question arises whether competition may also have comparable effects on the institutional level in the sense of competition among legal orders and thus serve as an antidote to today's problems. The present book addresses some of the fundamental aspects associated with institutional competition and identifies some possible lines for further research on how institutions can compete to bring about social and economic change.
Download or read book Economic Institutions Markets and Competition written by Bruno Dallago and published by Edward Elgar Publishing. This book was released on 1996 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploring the importance of institutions in economic systems and challenging the traditional assumption of antagonism between tendencies to centralize and tendencies to decentralize, this study addresses different aspects of the centralization-decentralization issues.
Download or read book The Institutions of the Market written by Alexander Ebner and published by Oxford University Press, USA. This book was released on 2008-07-31 with total page 423 pages. Available in PDF, EPUB and Kindle. Book excerpt: Where do markets come from and what drives their evolution? How do organizations cope with the competitive dynamism of markets? What is the role of governance mechanisms in the institutional coordination of markets? In this book, leading social scientists consider these questions and examine the institutional foundations of economic change.
Download or read book Institutional Economics and National Competitiveness written by Young Back Choi and published by Routledge. This book was released on 2011-07-29 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a strong contribution to the growing field of institutional economics, going beyond the question of why institutions matter and examines the ways in which different types of institutions are conducive to the enhancement of competitiveness and economic development. Adopting a variety of approaches, ranging from New Institutional Economics, Public Choice, Constitutional Political Economy and Austrian Economics, to more traditional economic approaches, contributors examine the important issues of interest to development economics. This book asks whether democracy is a pre-condition for economic development, what the proper role of government is in the age of globalization and whether successful government led policies were the cause of South Korea’s economic development. As well as these key questions, the book covers the issues of whether the government should rely on the market process to encourage economic development or must they interfere, and by what criteria one can judge a proposal for policies for economic prosperity. The book tries to make a contribution by introducing a variety of perspective, some argue in favour of industrial policies while others argue for a lesser role for the government and a greater entrepreneurial freedom. Some question the wisdom of promoting democracy as a necessary condition for economic development while others argue that political liberalization is the basis of lasting competitive edge of an economy. The book should be of great interest to students and researchers in need of a multi-perspective collection covering several approaches to the issues of institutional economics and national competition.
Download or read book The Constitution of Markets written by Viktor Vanberg and published by Psychology Press. This book was released on 2001 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the institutional dimension of markets and the rules and institutions that condition the operation of market economies.
Download or read book Building Institutions for Markets written by World Bank and published by World Bank Publications. This book was released on 2002 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Institutions fix the confines of and impose form upon the activities of human beings.' --Walton Hamilton, 'Institutions', 1932. The 'World Development Report 2002: Building Institutions for Markets' undertakes the complex issue of the basic institutions needed for markets to function properly. This year's 'World Development Report' goes beyond a simple examination of institutional structure and explores the functions of institutions. Recognizing that one size does not fit all, the report asks what do all institutions which support markets do? The answer is simple: Institutions channel information, define and enforce property rights, and increase or prevent competition. Understanding the functions that current institutions and their proposed replacements would provide is the first step. The report contends that once you have identified the institutional functions that are missing, you can then build effective institutions by following some basic principles: - Complement what exists already - in terms of other supporting institutions, human capacities, and technology. - Innovate to suit local norms and conditions. Experimenting with new structures can provide a country with creative solutions that work. - Connect communities of market players through open information flows and open trade. Open trade and information flows create demand for new institutions and improve the functioning of existing structures. - Compete among jurisdictions, firms, and individuals. Increased competition creates demand for new institutions as old ones lose their effectiveness. It also affects how people behave - improving institutional quality. These broad lessons and careful analyses, which links theory with pertinent evidence, are provided in the report. 'World Development Report 2002: Building Institutions for Markets' contains selected 'World Development Indicators'.
Download or read book The Economic Institutions of Capitalism written by Oliver E. Williamson and published by . This book was released on 1987 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: This sequel to Markets and Hierarchies develops and extends Williamson's innovative use of transaction cost economics as an approach to studying economic organization by applying it to work and labour as well as to the corporation itself. In addition, Williamson explores its growing implications for public policy, including its potential influence on antitrust and merger guidelines, labour policy, and SEC and public utility regulations.
Download or read book Legal Economic Institutions Entrepreneurship and Management written by Nezameddin Faghih and published by Springer Nature. This book was released on 2021-04-07 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of dynamics of institutional change in emerging markets are subjects of great interest in contemporary political economy. The dynamics and quality of institutional change can have significant impacts on the long-run performance of economies, economic growth and development of nations, and play a fundamental role in societies. It provides a comprehensive understanding of legal-economic institutions, and sheds light on the way to global peace by producing a better understanding of the dynamics of historical change. Topics range from institutional uncertainty, hybrid market order and labor market institutions, to good governance of institutions and WTO rules as trade institutions, as well as entrepreneurship and institutional change in emerging markets, and the role of modern technologies. This edited volume emphasizes legal-economic institutions, and the role of management and entrepreneurship on dynamics, trends, and implications of institutional change in emerging markets. Presenting research articles by eminent scholars and experts engaged in education and research, who address and discuss the most recent issues in the field, they reveal new insights into the dynamics of institutional change for researchers interested in development of new theories and comparative studies, especially in the era of emerging markets. The book is appealing to a wide range of global audience, can serve as a useful reference work in education and research, offers innovative and productive discussions, and can satisfy scholarly and intellectual interests, regarding institutional development and a broad spectrum of its interactions with functioning of markets and economies.
Download or read book Markets State and People written by Diane Coyle and published by Princeton University Press. This book was released on 2020-01-14 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: A textbook that examines how societies reach decisions about the use and allocation of economic resources While economic research emphasizes the importance of governmental institutions for growth and progress, conventional public policy textbooks tend to focus on macroeconomic policies and on tax-and-spend decisions. Markets, State, and People stresses the basics of welfare economics and the interplay between individual and collective choices. It fills a gap by showing how economic theory relates to current policy questions, with a look at incentives, institutions, and efficiency. How should resources in society be allocated for the most economically efficient outcomes, and how does this sit with society’s sense of fairness? Diane Coyle illustrates the ways economic ideas are the product of their historical context, and how events in turn shape economic thought. She includes many real-world examples of policies, both good and bad. Readers will learn that there are no panaceas for policy problems, but there is a practical set of theories and empirical findings that can help policymakers navigate dilemmas and trade-offs. The decisions faced by officials or politicians are never easy, but economic insights can clarify the choices to be made and the evidence that informs those choices. Coyle covers issues such as digital markets and competition policy, environmental policy, regulatory assessments, public-private partnerships, nudge policies, universal basic income, and much more. Markets, State, and People offers a new way of approaching public economics. A focus on markets and institutions Policy ideas in historical context Real-world examples How economic theory helps policymakers tackle dilemmas and choices
Download or read book International Economic Institutions written by M.A. van Meerhaeghe and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: What made me write this book was a feeling that students of international economics needed to fill out their knowledge of the theory with work on the practice of the major international economic organizations, many of which are having a growing influence on the national economies of their members. There was no single volume given over to a concise treatment of these organizations. The annual reports of the international organizations themselves can be consulted, of course, but as a rule these are not noted for being brief and to the point (the items of importance have to be fished out of a sea of useless detail), nor do they go in for criticism of their own activities. In selecting the organizations to be dealt with in the book I was guided by the influence they exert. I have left out those whose activities consist mainly in the drafting of recommendations to which, however meritorious they may be, little or no attention is paid. Some of them are included in the Introduction, which provides a summary of a number of institutions not discussed separately in the body of the work. There are, however, two exceptions: the Organization for Economic Cooperation and Development (OECD) as the organization replac ing the Organization for European Economic Cooperation (OEEC), and the United Nations Conference on Trade and Development (UNCTAD) whose meet ings have succeeded in drawing much attention of the press.
Download or read book FairEconomy written by Wolfgang Fikentscher and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: FairEconomy is a concept for a free and fair market economy. In response to the financial and economic crises of the past years, the authors develop fundamental ideas of how a market economy works, what rules markets need and who safeguards fairness and equal opportunity in such an economy. The book sets out the design of a sustainable market order: Going back to the very roots of doing business it offers a fascinating insight into the cultural and anthropological premises of the market economy. Fairness and free competition can be identified as key elements of successful markets, sometimes neglected in politics and business. Legal rules need to ensure that fairness and economic freedom work. The same holds true for the relationship of risk and liability that has been overlooked in the banking sector. The ideas of a FairEconomy, sketched in this book, are fit to become a reality: The authors point to institutions and mechanisms that could integrate the concept into global law. They place their trust less upon ever-larger institutions and more on private entitlement and enforcement at the global, regional, and local levels.
Download or read book The Invisible Hook written by Peter T. Leeson and published by Princeton University Press. This book was released on 2009-03-31 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pack your cutlass and blunderbuss--it's time to go a-pirating! The Invisible Hook takes readers inside the wily world of late seventeenth- and early eighteenth-century pirates. With swashbuckling irreverence and devilish wit, Peter Leeson uncovers the hidden economics behind pirates' notorious, entertaining, and sometimes downright shocking behavior. Why did pirates fly flags of Skull & Bones? Why did they create a "pirate code"? Were pirates really ferocious madmen? And what made them so successful? The Invisible Hook uses economics to examine these and other infamous aspects of piracy. Leeson argues that the pirate customs we know and love resulted from pirates responding rationally to prevailing economic conditions in the pursuit of profits. The Invisible Hook looks at legendary pirate captains like Blackbeard, Black Bart Roberts, and Calico Jack Rackam, and shows how pirates' search for plunder led them to pioneer remarkable and forward-thinking practices. Pirates understood the advantages of constitutional democracy--a model they adopted more than fifty years before the United States did so. Pirates also initiated an early system of workers' compensation, regulated drinking and smoking, and in some cases practiced racial tolerance and equality. Leeson contends that pirates exemplified the virtues of vice--their self-seeking interests generated socially desirable effects and their greedy criminality secured social order. Pirates proved that anarchy could be organized. Revealing the democratic and economic forces propelling history's most colorful criminals, The Invisible Hook establishes pirates' trailblazing relevance to the contemporary world.
Download or read book Economic Organization written by Oliver E. Williamson and published by . This book was released on 1986 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Business Organization and the Myth of the Market Economy written by William Lazonick and published by Cambridge University Press. This book was released on 1993-05-28 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the transitions in twentieth-century industrial leadership in terms of changing business investment strategies and organizational structures.
Download or read book The Economics of Competition Collusion and In between written by Claude d’Aspremont and published by Springer Nature. This book was released on 2021-05-18 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a methodology for the analysis of oligopolistic markets from an equilibrium viewpoint, considering competition within and between groups of firms. It proposes a well-founded measure of competitive toughness that can be used in empirically relevant applications. This measure reflects the weight put by each firm on competition for market share relative to competition for market size – two dimensions of competition involving conflicting and convergent interests, respectively. It further explores several applications, such as the effect of tougher competition on innovation and of output market power on the emergence of involuntary unemployment, as well as the importance of strategic interactions for investment decisions. Relative to the dominant model of monopolistic competition, The Economics of Competition, Collusion and In-between aims to explore an alternative tractable model of firm competition opening the application of oligopoly theory to many fields in economics where general equilibrium features are crucial. It will be relevant to those interested in applied industrial organization, trade, macroeconomics (in particular macrodynamics) and quantitative economics.
