The Surprising Design of Market Economies
The Surprising Design of Market Economies

Author: Alex Marshall

Publisher: University of Texas Press

Published: 2012-09-01

Total Pages: 289

ISBN-13: 0292745680

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The “free market” has been a hot topic of debate for decades. Proponents tout it as a cure-all for just about everything that ails modern society, while opponents blame it for the very same ills. But the heated rhetoric obscures one very important, indeed fundamental, fact—markets don’t just run themselves; we create them. Starting from this surprisingly simple, yet often ignored or misunderstood fact, Alex Marshall takes us on a fascinating tour of the fundamentals that shape markets and, through them, our daily economic lives. He debunks the myth of the “free market,” showing how markets could not exist without governments to create the structures through which we assert ownership of property, real and intellectual, and conduct business of all kinds. Marshall also takes a wide-ranging look at many other structures that make markets possible, including physical infrastructure ranging from roads and railroads to water systems and power lines; mental and cultural structures such as common languages and bodies of knowledge; and the international structures that allow goods, services, cash, bytes, and bits to flow freely around the globe. Sure to stimulate a lively public conversation about the design of markets, this broadly accessible overview of how a market economy is constructed will help us create markets that are fairer, more prosperous, more creative, and more beautiful.

The Surprising Design of Market Economies
The Surprising Design of Market Economies

Author: Alex Marshall

Publisher: University of Texas Press

Published: 2012-09-01

Total Pages: 289

ISBN-13: 0292717776

DOWNLOAD EBOOK

The "free market" has been a hot topic of debate for decades. Proponents tout it as a cure-all for just about everything that ails modern society, while opponents blame it for the very same ills. But the heated rhetoric obscures one very important, indeed fundamental, fact—markets don't just run themselves; we create them. Starting from this surprisingly simple, yet often ignored or misunderstood fact, Alex Marshall takes us on a fascinating tour of the fundamentals that shape markets and, through them, our daily economic lives. He debunks the myth of the "free market," showing how markets could not exist without governments to create the structures through which we assert ownership of property, real and intellectual, and conduct business of all kinds. Marshall also takes a wide-ranging look at many other structures that make markets possible, including physical infrastructure ranging from roads and railroads to water systems and power lines; mental and cultural structures such as common languages and bodies of knowledge; and the international structures that allow goods, services, cash, bytes, and bits to flow freely around the globe. Sure to stimulate a lively public conversation about the design of markets, this broadly accessible overview of how a market economy is constructed will help us create markets that are fairer, more prosperous, more creative, and more beautiful.

Varieties of Capitalism
Varieties of Capitalism

Author: Peter A. Hall

Publisher: Oxford University Press

Published: 2001

Total Pages: 557

ISBN-13: 0199247749

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Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide.

Marketcraft
Marketcraft

Author: Steven K. Vogel

Publisher: Oxford University Press

Published: 2018-02-01

Total Pages: 201

ISBN-13: 0190699876

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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.

Power System Economics
Power System Economics

Author: Steven Stoft

Publisher: Wiley-IEEE Press

Published: 2002-05-28

Total Pages: 498

ISBN-13: 9780471150404

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The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 examines classic designs for day-ahead and real-time markets. * Part 4 covers market power, and * Part 5 covers locational pricing, transmission right and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps. About the Author Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.

How Breakthroughs Happen
How Breakthroughs Happen

Author: Andrew Hargadon

Publisher: Harvard Business Press

Published: 2003

Total Pages: 280

ISBN-13: 9781578519040

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Dispelling the myth that innovation is invention & revolution, this text argues that innovators past & present have employed a strategy of technology brokering to source, develop & exploit new ideas. It provides a clear set of recommendations for managing the innovation process in organizations.

How Cities Work
How Cities Work

Author: Alex Marshall

Publisher: University of Texas Press

Published: 2000-12-31

Total Pages: 350

ISBN-13: 0292792433

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“Marshall writes with wit, reason, and style . . . An excellent resource on the history and future of American cities.” —Library Journal Do cities work anymore? How did they get to be such sprawling conglomerations of lookalike subdivisions, mega freeways, and “big box” superstores surrounded by acres of parking lots? And why, most of all, don't they feel like real communities? These are the questions that Alex Marshall tackles in this hard-hitting, highly readable look at what makes cities work. Marshall argues that urban life has broken down because of our basic ignorance of the real forces that shape cities—transportation systems, industry and business, and political decision-making. He explores how these forces have built four very different urban environments: the decentralized sprawl of California’s Silicon Valley; the crowded streets of New York City’s Jackson Heights neighborhood; the controlled growth of Portland, Oregon; and the stage-set facades of Disney’s planned community, Celebration, Florida. To build better cities, Marshall asserts, we must understand and intelligently direct the forces that shape them. Without prescribing any one solution, he defines the key issues facing all concerned citizens who are trying to control urban sprawl and build real communities. His timely book is important reading for a wide public and professional audience.

Fragile by Design
Fragile by Design

Author: Charles W. Calomiris

Publisher: Princeton University Press

Published: 2015-08-04

Total Pages: 584

ISBN-13: 0691168350

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Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.

Emerging Markets
Emerging Markets

Author: Eswar S. Prasad

Publisher: Rowman & Littlefield

Published: 2011-02-01

Total Pages: 225

ISBN-13: 0815705654

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Emerging market economies (EMEs) have become the darlings of international investors and the focus of enormous attention in academic, media, and policy circles. M. Ayhan Kose and Eswar Prasad present the definitive account of the evolution of EMEs and use the lens of the global financial crisis to evaluate their strengths and weaknesses. Led by a set of large and dynamic countries—including Brazil, China, India, and Russia—EMEs have become a dominant presence in the world economy. They now account for a substantial share of world output and have been a major driver of global growth during the past decade. They are significant players in international trade and financial flows and are beginning to exert rising clout in global policy debates. However, the financial crisis of 2007–09 and the worldwide recession that followed cast a pall over the notion that EMEs had become self-reliant and "decoupled" from demand conditions in and financial flows from advanced countries. Kose and Prasad, prominent experts on emerging market economies and globalization, draw on their extensive research to assess the resilience of EMEs in the face of the global financial crisis. Their analysis shows that EMEs, as a group, weathered the crisis much better than the advanced countries, and most of these economies have bounced back rapidly from the global recession. The authors track down the reasons for this resilience and explain why some countries in this group have done better than others. Based on this analysis, they draw lessons for the durability and sustainability of these economies' long-term growth. This book is important reading for anyone trying to anticipate the future growth of emerging markets or contemplating business opportunities in these economies.