Download or read book On Custom in the Economy written by Ekkehart Schlicht and published by Oxford University Press on Demand. This book was released on 1998-03-26 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to re-establish custom in economics. Current economic theorizing largely neglects the customary forces that underpin market exchange. Economic sociologists have stressed this repeatedly by referring to the 'embeddedness' of all kinds of economic processes. It is true that market processes do hinge on elements of custom, but custom is in turn moulded by economic processes. This other causal direction needs more attention than it has hitherto received. The waymodern institutional economics has developed points to the same deficiency. Institutional economics initially tried to analyse economic institutions as arising from market processes and competition whilst avoiding reference to all elements of custom, but it became increasingly clear that answersobtained in this fashion were critically dependent on tacit underlying assumptions about the customary infrastructure.Another current strand of thought, notably originating with game theory, has tried to understand the emergence of customs by viewing them as routines that have been adopted because of their success. This approach views customs essentially as conventions that solve coordination problems. It is driven by the economic paradigm that interprets behaviour as fully reducible to the interplay of (given) preferences and constraints whilst neglecting the direct motivational impact of custom. The secondaim of the book is thus to systematically harmonize the motivational significance of custom with institutional theorizing. The re-establishment of custom in economics will provide foundations for institutional economics which reduce the arbitrariness of current thinking.
Download or read book On Custom in the Economy written by Ekkehart Schlicht and published by OUP Oxford. This book was released on 1998-03-26 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to re-establish custom in economics. Current economic theorizing largely neglects the forces of custom that underpin market exchange. Economic sociologists have stressed this repeatedly by referring to the 'embeddedness' of all kinds of economic processes. However, while it is true that market transactions hinge critically on elements of custom, economic processes shape shape custom in turn. This other causal direction needs more attention than it has hitherto received. The way modern institutional economics has developed points to the same deficiency. Institutional economics initially tried to analyse economic institutions as arising from market processes and competition while avoiding reference to all elements of custom, but it became increasingly clear that the answers so obtained were critically dependent on tacit assumptions about the customary infrastructure. One aim of the book is to provide the necessary link between customary elements and market processes. A current strand of thought, notably originating with game theory, has tried to understand the emergence of customs by interpreting them as routines that have been adopted because they were competitively successful. This approach takes customs essentially as conventions that solve coordination problems. It is driven by the economic paradigm that interprets behaviour as fully reducible to the interplay of (given) preferences and constraints while neglecting the direct motivational impact of custom. A second aim of the book is thus to systematically harmonize the motivational significance of custom with institutional theorizing in a systematic way. The re-establishment of custom in economics will provide foundations for institutional thinking and will help in reducing the arbitrariness of current thought.
Download or read book The National System of Political Economy written by Friedrich List and published by . This book was released on 1916 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Society and Economy written by Mark Granovetter and published by Harvard University Press. This book was released on 2017-02-27 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: A work of exceptional ambition by the founder of modern economic sociology, this first full account of Mark Granovetter’s ideas stresses that the economy is not a sphere separate from other human activities but is deeply embedded in social relations and subject to the same emotions, ideas, and constraints as religion, science, politics, or law.
Download or read book Government and the American Economy written by Price V. Fishback and published by University of Chicago Press. This book was released on 2008-09-15 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: The American economy has provided a level of well-being that has consistently ranked at or near the top of the international ladder. A key source of this success has been widespread participation in political and economic processes. In The Government and the American Economy, leading economic historians chronicle the significance of America’s open-access society and the roles played by government in its unrivaled success story. America’s democratic experiment, the authors show, allowed individuals and interest groups to shape the structure and policies of government, which, in turn, have fostered economic success and innovation by emphasizing private property rights, the rule of law, and protections of individual freedom. In response to new demands for infrastructure, America’s federal structure hastened development by promoting the primacy of states, cities, and national governments. More recently, the economic reach of American government expanded dramatically as the populace accepted stronger limits on its economic freedoms in exchange for the increased security provided by regulation, an expanded welfare state, and a stronger national defense.
Download or read book Failure to Adjust written by Edward Alden and published by Rowman & Littlefield. This book was released on 2017-09-15 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: *Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.
Download or read book A Culture of Growth written by Joel Mokyr and published by Princeton University Press. This book was released on 2018 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why Enlightenment culture sparked the Industrial Revolution During the late eighteenth century, innovations in Europe triggered the Industrial Revolution and the sustained economic progress that spread across the globe. While much has been made of the details of the Industrial Revolution, what remains a mystery is why it took place at all. Why did this revolution begin in the West and not elsewhere, and why did it continue, leading to today's unprecedented prosperity? In this groundbreaking book, celebrated economic historian Joel Mokyr argues that a culture of growth specific to early modern Europe and the European Enlightenment laid the foundations for the scientific advances and pioneering inventions that would instigate explosive technological and economic development. Bringing together economics, the history of science and technology, and models of cultural evolution, Mokyr demonstrates that culture--the beliefs, values, and preferences in society that are capable of changing behavior--was a deciding factor in societal transformations. Mokyr looks at the period 1500-1700 to show that a politically fragmented Europe fostered a competitive "market for ideas" and a willingness to investigate the secrets of nature. At the same time, a transnational community of brilliant thinkers known as the "Republic of Letters" freely circulated and distributed ideas and writings. This political fragmentation and the supportive intellectual environment explain how the Industrial Revolution happened in Europe but not China, despite similar levels of technology and intellectual activity. In Europe, heterodox and creative thinkers could find sanctuary in other countries and spread their thinking across borders. In contrast, China's version of the Enlightenment remained controlled by the ruling elite. Combining ideas from economics and cultural evolution, A Culture of Growth provides startling reasons for why the foundations of our modern economy were laid in the mere two centuries between Columbus and Newton.
Download or read book Building a Healthy Economy from the Bottom Up written by Anthony Flaccavento and published by University Press of Kentucky. This book was released on 2016-06-10 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has witnessed important changes in recent years. In the United States, enterprising communities have transitioned from tobacco farming to growing organic produce, from extractive fishing to vertical farming, from nonrenewable energy consumption to the implementation of solar cooperatives—and have transformed from impoverished neighborhoods into green development zones. Yet these promising achievements remain a small part of the total economy and are largely ignored by policy makers, pundits, and economists. In Building a Healthy Economy from the Bottom Up: Harnessing Real World Experience for Transformative Change, Anthony Flaccavento introduces readers to the innovators who are creating thriving, locally based economies and provides a road map for others who are interested in doing the same. He demonstrates that, despite the success of local initiatives like farmers' markets and clean energy cooperatives, true and lasting change of this type stalls without the appropriate discussion and implementation of public policies that define their lasting impact. He shows how active citizens can spur essential changes, generate community capital, increase civic dialogue, and foster sustainability efforts. Flaccavento skillfully combines economic analysis and public policy recommendations with practical solutions. His call to collective action will appeal to scholars, entrepreneurs, policymakers, community activists, environmentalists, and all citizens passionate about the health of their communities.
Download or read book The Little Book of Economics written by Greg Ip and published by John Wiley & Sons. This book was released on 2013-01-14 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: An accessible, thoroughly engaging look at how the economy really works and its role in your everyday life Not surprisingly, regular people suddenly are paying a lot closer attention to the economy than ever before. But economics, with its weird technical jargon and knotty concepts and formulas can be a very difficult subject to get to grips with on your own. Enter Greg Ip and his Little Book of Economics. Like a patient, good-natured tutor, Greg, one of today's most respected economics journalists, walks you through everything you need to know about how the economy works. Short on technical jargon and long on clear, concise, plain-English explanations of important terms, concepts, events, historical figures and major players, this revised and updated edition of Greg's bestselling guide clues you in on what's really going on, what it means to you and what we should be demanding our policymakers do about the economy going forward. From inflation to the Federal Reserve, taxes to the budget deficit, you get indispensible insights into everything that really matters about economics and its impact on everyday life Special sections featuring additional resources of every subject discussed and where to find additional information to help you learn more about an issue and keep track of ongoing developments Offers priceless insights into the roots of America's economic crisis and its aftermath, especially the role played by excessive greed and risk-taking, and what can be done to avoid another economic cataclysm Digs into globalization, the roots of the Euro crisis, the sources of China's spectacular growth, and why the gap between the economy's winners and losers keeps widening
Download or read book Rewriting the Rules of the American Economy An Agenda for Growth and Shared Prosperity written by Joseph E. Stiglitz and published by W. W. Norton & Company. This book was released on 2015-11-02 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: It’s time to rewrite the rules—to curb the runaway flow of wealth to the top one percent, to restore security and opportunity for the middle class, and to foster stronger growth rooted in broadly shared prosperity. Inequality is a choice. The United States bills itself as the land of opportunity, a place where anyone can achieve success and a better life through hard work and determination. But the facts tell a different story—the U.S. today lags behind most other developed nations in measures of inequality and economic mobility. For decades, wages have stagnated for the majority of workers while economic gains have disproportionately gone to the top one percent. Education, housing, and health care—essential ingredients for individual success—are growing ever more expensive. Deeply rooted structural discrimination continues to hold down women and people of color, and more than one-fifth of all American children now live in poverty. These trends are on track to become even worse in the future. Some economists claim that today’s bleak conditions are inevitable consequences of market outcomes, globalization, and technological progress. If we want greater equality, they argue, we have to sacrifice growth. This is simply not true. American inequality is the result of misguided structural rules that actually constrict economic growth. We have stripped away worker protections and family support systems, created a tax system that rewards short-term gains over long-term investment, offered a de facto public safety net to too-big-to-fail financial institutions, and chosen monetary and fiscal policies that promote wealth over full employment.
Download or read book The Economy As An Evolving Complex System II written by W. Brian Arthur and published by CRC Press. This book was released on 2018-05-04 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new view of the economy as an evolving, complex system has been pioneered at the Santa Fe Institute over the last ten years, This volume is a collection of articles that shape and define this view?a view of the economy as emerging from the interactions of individual agents whose behavior constantly evolves, whose strategies and actions are always adapting.The traditional framework in economics portrays activity within an equilibrium steady state. The interacting agents in the economy are typically homogenous, solve well-defined problems using perfect rationality, and act within given legal and social structures. The complexity approach, by contrast, sees economic activity as continually changing?continually in process. The interacting agents are typically heterogeneous, they must cognitively interpret the problems they face, and together they create the structures?markets, legal and social institutions, price patters, expectations?to which they individually react. Such structures may never settle down. Agents may forever adapt and explore and evolve their behaviors within structures that continually emerge and change and disappear?structures these behaviors co-create. This complexity approach does not replace the equilibrium one?it complements it.The papers here collected originated at a recent conference at the Santa Fe Institute, which was called to follow up the well-known 1987 SFI conference organized by Philip Anderson, Kenneth Arrow, and David Pines. They survey the new study of complexity and the economy. They apply this approach to real economic problems and they show the extent to which the initial vision of the 1987 conference has come to fruition.
Download or read book Sorting Out the Mixed Economy written by Amy C. Offner and published by Princeton University Press. This book was released on 2021-06-08 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The untold story of how welfare and development programs in the United States and Latin America produced the instruments of their own destruction In the years after 1945, a flood of U.S. advisors swept into Latin America with dreams of building a new economic order and lifting the Third World out of poverty. These businessmen, economists, community workers, and architects went south with the gospel of the New Deal on their lips, but Latin American realities soon revealed unexpected possibilities within the New Deal itself. In Colombia, Latin Americans and U.S. advisors ended up decentralizing the state, privatizing public functions, and launching austere social welfare programs. By the 1960s, they had remade the country’s housing projects, river valleys, and universities. They had also generated new lessons for the United States itself. When the Johnson administration launched the War on Poverty, U.S. social movements, business associations, and government agencies all promised to repatriate the lessons of development, and they did so by multiplying the uses of austerity and for-profit contracting within their own welfare state. A decade later, ascendant right-wing movements seeking to dismantle the midcentury state did not need to reach for entirely new ideas: they redeployed policies already at hand. In this groundbreaking book, Amy Offner brings readers to Colombia and back, showing the entanglement of American societies and the contradictory promises of midcentury statebuilding. The untold story of how the road from the New Deal to the Great Society ran through Latin America, Sorting Out the Mixed Economy also offers a surprising new account of the origins of neoliberalism.
Download or read book Economix written by Michael Goodwin and published by Abrams. This book was released on 2012-09-01 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economix is an essential and accessible guide to understanding the economy and economic practices. This New York Times bestseller is a must-read for every citizen and every voter. With clear, witty writing and quirky, accessible art, this important and timely graphic novel transforms “the dismal science” of economics into a fun, fact-filled story about human nature and our attempts to make the most of what we’ve got . . . and sometimes what our neighbors have. Economix explains it all, from the beginning of Western economic thought; to markets free and otherwise; to economic failures, successes, limitations, and future possibilities. Everybody’s talking about the economy, but how can we, the people, make sense of what Wall Street or Washington say they know? Read the New York Times bestselling Economix, from author Michael Goodwin and illustrator Dan E. Burr. “Goodwin brilliantly contextualizes economic theories with historical narrative, while Burr’s simple but elegant illustration employs classical techniques like caricaturing politicians and symbolizing big businesses (as a gleeful factory) to help the reader visualize difficult concepts.” —Publishers Weekly (starred review) “This witty and elegant volume takes on a number of complex issues—in this case, economics, history and finance—and makes them comprehensible for mere mortals.” —Miami Herald “Michael Goodwin hasn’t just written a great graphic novel—he’s written one that should be required for every school, newsroom, and library in the United States.” —Minneapolis Star Tribune
Download or read book Information Rules written by Carl Shapiro and published by Harvard Business Press. This book was released on 1999 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: As one of the first books to distill the economics of information and networks into practical business strategies, this is a guide to the winning moves that can help business leaders--from writers, lawyers and finance professional to executives in the entertainment, publishing and hardware and software industries-- navigate successfully through the information economy.
Download or read book Comparative Economics in a Transforming World Economy written by John Barkley Rosser and published by MIT Press. This book was released on 2004 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of an innovative undergraduate textbook in Comparative Economic Systems that goes beyond the traditional dichotomies.
Download or read book Economy in Society written by Michael J. Piore and published by MIT Press. This book was released on 2012-10-19 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prominent economists discuss internal labor markets, the dynamics of immigration, labor market regulation, and other key topics in the work of Michael J. Piore. In Economy in Society, five prominent social scientists honor Michael J. Piore in original essays that explore key topics in Piore's work and make significant independent contributions in their own right. Piore is distinctive for his original research that explores the interaction of social, political, and economic considerations in the labor market and in the economic development of nations and regions. The essays in this volume reflect this rigorous interdisciplinary approach to important social and economic questions. M. Diane Burton's essay extends our understanding of internal labor markets by considering the influence of surrounding firms; Natasha Iskander builds on Piore's theory of immigration with a study of Mexican construction workers in two cities; Suzanne Berger highlights insights from Piore's work on technology and industrial development; Andrew Schrank takes up the theme of regulatory discretion; and Charles Sabel discusses theories of public bureaucracy.
Download or read book Customs in Common written by E. P. Thompson and published by New Press/ORIM. This book was released on 2015-09-22 with total page 558 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “meticulously researched, elegantly argued and deeply humane” sequel to the landmark volume of social history, The Making of the English Working Class (The New York Times Book Review). This remarkable study investigates the gradual disappearance of a range of cultural customs against the backdrop of the great upheavals of the eighteenth century. As villagers were subjected to a legal system increasingly hostile to custom, they tried both to resist and to preserve tradition, becoming, as E. P. Thompson explains, “rebellious, but rebellious in defense of custom.” Although some historians have written of riotous peasants of England and Wales as if they were mainly a problem for magistrates and governments, for Thompson it is the rulers, landowners, and governments who were a problem for the people, whose exuberant culture preceded the formation of working-class institutions and consciousness. Essential reading for all those intrigued by English history, Customs in Common has a special relevance today, as traditional economies are being replaced by market economies throughout the world. The rich scholarship and depth of insight in Thompson’s work offer many clues to understanding contemporary changes around the globe. “[This] long-awaited collection . . . is a signal contribution . . . [from] the person most responsible for inspiring the revival of American labor history during the past thirty years.” —The Nation “This book signals the return to historical writing of one of the most eloquent, powerful and independent voices of our time. At his best he is capable of a passionate, sardonic eloquence which is unequalled.” —The Observer
