Beyond Free Market
Beyond Free Market

Author: Fayyaz Baqir

Publisher: Routledge

Published: 2021-05-19

Total Pages: 246

ISBN-13: 1000396177

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This book explores the causes and consequences of market failure in bridging societal differences to create a shared economy. It questions the current world order and evaluates socio-economic gains in reference to the social origins of the economic agents. With a need to counterbalance economic growth with social equality and environmental sustainability, the book proposes innovative approaches to address key questions on the contemporary global economy such as, "Is the Global socio-economic order supportive of the pursuit of rational and enlightened self -interest?", "Is it a unipolar power centre and neoliberal economic policy regime?", "Can the system reinvent itself?", etc. One approach encourages going back to the golden past and making things "great again", insisting that history has ended and the failures of old global institutions be blamed on the "Clash of Civilizations". Another approach advocates giving up the intellectual comfort zone of elegant but irrelevant neo-liberal explanations of global challenges and asking new questions that take academic debate to the public square. The book examines the internal challenges and contradictions that cause disintegration and proposes alternative ideas and practices in moving the global community beyond the free market regime. The book will appeal to students and academics of development studies, political economy, political science, sociology, as well as policymakers and public opinion makers interested in creating a new egalitarian global society.

Beyond Politics
Beyond Politics

Author: William Mitchell

Publisher: Taylor & Francis

Published: 2021-12-13

Total Pages: 255

ISBN-13: 0429700474

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Traditional public policy and welfare economics have held that market failures are common, requiring the intervention of government in order to serve and protect the public good. In Beyond Politics, William C. Mitchell and Randy T. Simmons carefully scrutinize this traditional view through the modern theory of public choice. The authors enlighten the relationship of government and markets by emphasizing the actual rather than the ideal workings of governments and by reuniting the insights of economics with those of political science. Beyond Politics traces the anatomy of government failure and a pathology of contemporary political institutions as government has become a vehicle for private gain at public expense. In so doing, this brisk and vigorous book examines a host of public issues, including social welfare, consumer protection, and the environment. Offering a unified and powerful perspective on the market process, property rights, politics, contracts, and government bureaucracy, Beyond Politics is a lucid and comprehensive book on the foundations and institutions of a free and humane society.

Beyond Free Market
Beyond Free Market

Author: Fayyaz Baqir

Publisher: Taylor & Francis

Published: 2021-05-18

Total Pages: 239

ISBN-13: 1000396185

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This book explores the causes and consequences of market failure in bridging societal differences to create a shared economy. It questions the current world order and evaluates socio-economic gains in reference to the social origins of the economic agents. With a need to counterbalance economic growth with social equality and environmental sustainability, the book proposes innovative approaches to address key questions on the contemporary global economy such as, "Is the Global socio-economic order supportive of the pursuit of rational and enlightened self -interest?", "Is it a unipolar power centre and neoliberal economic policy regime?", "Can the system reinvent itself?", etc. One approach encourages going back to the golden past and making things "great again", insisting that history has ended and the failures of old global institutions be blamed on the "Clash of Civilizations". Another approach advocates giving up the intellectual comfort zone of elegant but irrelevant neo-liberal explanations of global challenges and asking new questions that take academic debate to the public square. The book examines the internal challenges and contradictions that cause disintegration and proposes alternative ideas and practices in moving the global community beyond the free market regime. The book will appeal to students and academics of development studies, political economy, political science, sociology, as well as policymakers and public opinion makers interested in creating a new egalitarian global society.

Beyond Economic Man
Beyond Economic Man

Author: Marianne A. Ferber

Publisher: University of Chicago Press

Published: 2009-04-01

Total Pages: 186

ISBN-13: 0226242080

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This is the first book to examine the central tenets of economics from a feminist point of view. In these original essays, the authors suggest that the discipline of economics could be improved by freeing itself from masculine biases. Beyond Economic Man raises questions about the discipline not because economics is too objective but because it is not objective enough. The contributors—nine economists, a sociologist, and a philosopher—discuss the extent to which gender has influenced both the range of subjects economists have studied and the way in which scholars have conducted their studies. They investigate, for example, how masculine concerns underlie economists' concentration on market as opposed to household activities and their emphasis on individual choice to the exclusion of social constraints on choice. This focus on masculine interests, the contributors contend, has biased the definition and boundaries of the discipline, its central assumptions, and its preferred rhetoric and methods. However, the aim of this book is not to reject current economic practices, but to broaden them, permitting a fuller understanding of economic phenomena. These essays examine current economic practices in the light of a feminist understanding of gender differences as socially constructed rather than based on essential male and female characteristics. The authors use this concept of gender, along with feminist readings of rhetoric and the history of science, as well as postmodernist theory and personal experience as economists, to analyze the boundaries, assumptions, and methods of neoclassical, socialist, and institutionalist economics. The contributors are Rebecca M. Blank, Paula England, Marianne A. Ferber, Nancy Folbre, Ann L. Jennings, Helen E. Longino, Donald N. McCloskey, Julie A. Nelson, Robert M. Solow, Diana Strassmann, and Rhonda M. Williams.

The Myth of the Free Market
The Myth of the Free Market

Author: Mark Anthony Martinez

Publisher: Kumarian Press

Published: 2009

Total Pages: 338

ISBN-13: 1565492676

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* Explains how the 2008 financial meltdown came about and how to revitalize global and domestic economies * Shows how capitalist economies developed and why the state matters in their functioning Free market purists claim that the state is an inefficient institution that does little for society beyond providing stability and protection. The activities related to distributing resources and economic growth, they say, are better left to the invisible hand of the marketplace. These notions now seem tragically misguided in the wake of the 2008 market collapse and bailout. Mark Martinez describes how the flawed myth of the "invisible hand" distorted our understanding of how modern capitalist markets developed and actually work. Martinez draws from history to illustrate that political processes and the state are not only instrumental in making capitalist markets work but that there would be no capitalist markets or wealth creation without state intervention. He brings his story up to the present day to show how the seeds of an unprecedented government intervention in the financial markets were sown in past actions. The Myth of the Free Market is a fascinating and accessible introduction to comparative economic systems as well as an incisive refutation of the standard mantras of neoclassical free market economic theory.

Beyond the Market
Beyond the Market

Author: Jens Beckert

Publisher: Princeton University Press

Published: 2009-01-10

Total Pages: 377

ISBN-13: 140082544X

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Beyond the Market launches a sociological investigation into economic efficiency. Prevailing economic theory, which explains efficiency using formalized rational choice models, often simplifies human behavior to the point of distortion. Jens Beckert finds such theory to be particularly weak in explaining such crucial forms of economic behavior as cooperation, innovation, and action under conditions of uncertainty--phenomena he identifies as the proper starting point for a sociology of economic action. Beckert levels an enlightened critique at neoclassical economics, arguing that understanding efficiency requires looking well beyond the market to the social, cultural, political, and cognitive factors that influence the coordination of economic action. Beckert searches social theory for the components of an alternative theory of action, one that accounts for the social embedding of economic behavior. In Durkheim and Parsons he finds especially useful approaches to cooperation; in Luhmann, a way to understand how people act under highly contingent conditions; and in Giddens, an understanding of creative action and innovation. Together, these provide building blocks for a research program that will yield a theoretically sophisticated understanding of how economic processes are coordinated and the ways that markets are embedded in social, cultural, and cognitive structures. Containing one of the most fully informed critiques of the neoclassical analysis of economic efficiency--as well as one of the most thoughtful blueprints for economic sociology--this book reclaims for sociology the study of one of the most important arenas of human action.

Beyond the Invisible Hand
Beyond the Invisible Hand

Author: Kaushik Basu

Publisher: Princeton University Press

Published: 2010-10-25

Total Pages: 292

ISBN-13: 1400836271

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Why economics needs to focus on fairness and not just efficiency One of the central tenets of mainstream economics is Adam Smith's proposition that, given certain conditions, self-interested behavior by individuals leads them to the social good, almost as if orchestrated by an invisible hand. This deep insight has, over the past two centuries, been taken out of context, contorted, and used as the cornerstone of free-market orthodoxy. In Beyond the Invisible Hand, Kaushik Basu argues that mainstream economics and its conservative popularizers have misrepresented Smith's insight and hampered our understanding of how economies function, why some economies fail and some succeed, and what the nature and role of state intervention might be. Comparing this view of the invisible hand with the vision described by Kafka—in which individuals pursuing their atomistic interests, devoid of moral compunction, end up creating a world that is mean and miserable—Basu argues for collective action and the need to shift our focus from the efficient society to one that is also fair. Using analytic tools from mainstream economics, the book challenges some of the precepts and propositions of mainstream economics. It maintains that, by ignoring the role of culture and custom, traditional economics promotes the view that the current system is the only viable one, thereby serving the interests of those who do well by this system. Beyond the Invisible Hand challenges readers to fundamentally rethink the assumptions underlying modern economic thought and proves that a more equitable society is both possible and sustainable, and hence worth striving for. By scrutinizing Adam Smith's theory, this impassioned critique of contemporary mainstream economics debunks traditional beliefs regarding best economic practices, self-interest, and the social good.

Free Market
Free Market

Author: Jacob Soll

Publisher: Hachette UK

Published: 2022-09-06

Total Pages: 281

ISBN-13: 1541620232

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From a MacArthur “Genius,” an intellectual history of the free market, from ancient Rome to the twenty-first century After two government bailouts of the US economy in less than twenty years, free market ideology is due for serious reappraisal. In Free Market, Jacob Soll details how we got to this current crisis, and how we can find our way out by looking to earlier iterations of free market thought. Contrary to popular narratives, early market theorists believed that states had an important role in building and maintaining free markets. But in the eighteenth century, thinkers insisted on free markets without state intervention, leading to a tradition of ideological brittleness. That tradition only calcified in the centuries that followed. Tracing the intellectual evolution of the free market from Cicero to Milton Friedman, Soll argues that we need to go back to the origins of free market ideology in order to truly understand it—and to develop new economic concepts to face today’s challenges.

Beyond Free Trade
Beyond Free Trade

Author: K. Ervine

Publisher: Springer

Published: 2015-04-08

Total Pages: 305

ISBN-13: 1137412739

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The world of trade is changing rapidly, from the 'rise of the South' to the growth of unconventional projects like fair trade and carbon trading. Beyond Free Trade advances alternative ways for understanding these new dynamics, based on historical, political, or sociological methods that go beyond the limitations of conventional trade economics.