The Limits Of Market Organization

Author : Richard R. Nelson
Publisher : Russell Sage Foundation
ISBN 13 : 9780871546265
Total Pages : 410 pages
Book Rating : 4.64/5 ( download)

DOWNLOAD NOW!

Download or read book The Limits of Market Organization written by Richard R. Nelson and published by Russell Sage Foundation. This book was released on 2005-03-24 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last quarter century has seen a broad, but qualified, belief in the efficacy of market organization slide into an unyielding dogma that the market, as unconstrained as possible, is the best way to govern virtually all economic activity. However, unrestricted markets can often lead to gross inequalities in access to important resources, the creation of monopolies, and other negative effects that require regulation or public subsidies to remedy. In The Limits of Market Organization, editor Richard Nelson and a group of economic experts take a more sophisticated look at the public/private debate, noting where markets are useful, where they can be effective only if augmented by non-market mechanisms, and where they are simply inappropriate. The Limits of Market Organization examines the appropriateness of markets in four areas where support for privatization varies widely: human services, public utilities, science and technology, and activities where market involvement is altogether inappropriate. Richard Murnane makes the case that a social interest in providing equal access to high quality education means that for school voucher plans to be effective, substantial government oversight is necessary. Federal involvement in a transcontinental railroad system was initially applauded, but recent financial troubles at Amtrak have prompted many to call for privatization of the rails. Yet contributor Elliot Sclar argues that public subsidies are the only way to maintain this vital part of the American transportation infrastructure. While market principles can promote competition and foster innovation, applying them in certain areas can actually stifle progress. Nelson argues that aggressive patenting has hindered scientific research by restricting access to tools and processes that could be used to generate new findings. He suggests that some kind of exception to patent law should be made for scientists who seek to build off of patented findings and then put their research results into the public domain. In other spheres, market organization is altogether unsuitable. Legal expert Richard Briffault looks at one such example—the democratic political process—and profiles the successes and failures of campaign finance reform in preventing parties from buying political influence. This important volume shows that market organization has its virtues, but also its drawbacks. Just as regulation can be over-applied, so too can market principles. The Limits of Market Organization encourages readers to think more discriminately about the march toward privatization, and to remember the importance of public institutions.

Author : Richard R. Nelson
Publisher : Russell Sage Foundation
ISBN 13 : 1610444248
Total Pages : 395 pages
Book Rating : 4.48/5 ( download)

DOWNLOAD NOW!

Download or read book The Limits of Market Organization written by Richard R. Nelson and published by Russell Sage Foundation. This book was released on 2005-03-24 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: The last quarter century has seen a broad, but qualified, belief in the efficacy of market organization slide into an unyielding dogma that the market, as unconstrained as possible, is the best way to govern virtually all economic activity. However, unrestricted markets can often lead to gross inequalities in access to important resources, the creation of monopolies, and other negative effects that require regulation or public subsidies to remedy. In The Limits of Market Organization, editor Richard Nelson and a group of economic experts take a more sophisticated look at the public/private debate, noting where markets are useful, where they can be effective only if augmented by non-market mechanisms, and where they are simply inappropriate. The Limits of Market Organization examines the appropriateness of markets in four areas where support for privatization varies widely: human services, public utilities, science and technology, and activities where market involvement is altogether inappropriate. Richard Murnane makes the case that a social interest in providing equal access to high quality education means that for school voucher plans to be effective, substantial government oversight is necessary. Federal involvement in a transcontinental railroad system was initially applauded, but recent financial troubles at Amtrak have prompted many to call for privatization of the rails. Yet contributor Elliot Sclar argues that public subsidies are the only way to maintain this vital part of the American transportation infrastructure. While market principles can promote competition and foster innovation, applying them in certain areas can actually stifle progress. Nelson argues that aggressive patenting has hindered scientific research by restricting access to tools and processes that could be used to generate new findings. He suggests that some kind of exception to patent law should be made for scientists who seek to build off of patented findings and then put their research results into the public domain. In other spheres, market organization is altogether unsuitable. Legal expert Richard Briffault looks at one such example—the democratic political process—and profiles the successes and failures of campaign finance reform in preventing parties from buying political influence. This important volume shows that market organization has its virtues, but also its drawbacks. Just as regulation can be over-applied, so too can market principles. The Limits of Market Organization encourages readers to think more discriminately about the march toward privatization, and to remember the importance of public institutions.

Author : Paul de Grauwe
Publisher : Oxford University Press
ISBN 13 : 0198784287
Total Pages : 182 pages
Book Rating : 4.89/5 ( download)

DOWNLOAD NOW!

Download or read book The Limits of the Market written by Paul de Grauwe and published by Oxford University Press. This book was released on 2017 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The old discussion of 'Market or State' is obsolete. There will always have to be a mix of market and state. The only relevant question is what that mix should look like. How far do we have to let the market go its own way in order to create as much welfare as possible for everyone? What is the responsibility of the government in creating welfare? These are difficult questions. But they are also interesting questions and Paul De Grauwe analyses them in this book. The desired mix of market and state is anything but easy to bring about. It is a difficult and sometimes destructive process that is constantly in motion. There are periods in history in which the market gains in importance. During other periods the opposite occurs and government is more dominant. The turning points in this pendulum swing typically seem to coincide with disruptive events that test the limits of market and state. Why we experience this dynamic is an important theme in the book. Will the market, which today is afforded a greater and greater role due to globalization, run up against its limits? Or do the financial crisis and growing income inequality show that we have already reached those limits? Do we have to brace ourselves for a rejection of the capitalist system? Are we returning to an economy in which the government is running the show?

Author : Michael J. Sandel
Publisher : Farrar, Straus and Giroux
ISBN 13 : 1429942584
Total Pages : 256 pages
Book Rating : 4.84/5 ( download)

DOWNLOAD NOW!

Download or read book What Money Can't Buy written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2012-04-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?

Author : Kenneth J. Arrow
Publisher : W. W. Norton & Company
ISBN 13 : 0393355799
Total Pages : 61 pages
Book Rating : 4.96/5 ( download)

DOWNLOAD NOW!

Download or read book The Limits of Organization written by Kenneth J. Arrow and published by W. W. Norton & Company. This book was released on 1974-02-17 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The tension between what we wish for and what we can get, between values and opportunities, exists even at the purely individual level. A hermit on a mountain may value warm clothing and yet be hard-pressed to make it from the leaves, bark, or skins he can find. But when many people are competing with each other for satisfaction of their wants, learning how to exploit what is available becomes more difficult. In this volume, Nobel Laureate Kenneth J. Arrow analyzes why - and how - human beings organize their common lives to overcome the basic economic problem: the allocation of scarce resources. The price system is one means of organizing society to mediate competition, and Arrow analyzes its successes and failures. Alternative modes of achieving efficient allocation of resources are explored: government, the internal organization of the firm, and the 'invisible institutions' of ethical and moral principles. Professor Arrow shows how these systems create channels to make decisions, and discusses the costs of information acquisition and retrieval. He investigates the factors determining which potential decision variables are recognized as such. Finally, he argues that organizations must achieve some balance between the power of the decision makers and their obligation to those who carry out their decisions - between authority and responsibility.

Author : Herbert Giersch
Publisher : Springer Science & Business Media
ISBN 13 : 3642722105
Total Pages : 282 pages
Book Rating : 4.03/5 ( download)

DOWNLOAD NOW!

Download or read book Merits and Limits of Markets written by Herbert Giersch and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1997 Symposium of the Egon-Sohmen-Foundation, which gave rise to this book, took place in the United States, on the East Coast between New Y C)rk and New Haven, more precisely in Stamford (Conn.). The original choice had been a place close to Yale University, where Egon Sohmen taught economics from 1958 to 1960, subsequent to his period at MIT. But the hotel in New Haven was closed down by a new owner-to pass through a process of creative destruction. Change of ownership-on a large scale and as a transition from public to private hands-had been the topic of the preceding Egon Sohmen-Symposium (in Budapest in 1996) published under the head ing: Privatization at the End of the Century (Springer-Verlag, 1997). Yet mere change of ownership, some of us at the Foundation felt in subsequent months, was too narrow a focus to properly deal with the movement under consideration: a transition of ownership together with a general move towards a competitive market system charac terized by global openness, uncertainty, decentralized risk-bearing, and the increasing importance of information and innovation.

Author : Robert Kuttner
Publisher : University of Chicago Press
ISBN 13 : 9780226465555
Total Pages : 436 pages
Book Rating : 4.51/5 ( download)

DOWNLOAD NOW!

Download or read book Everything for Sale written by Robert Kuttner and published by University of Chicago Press. This book was released on 1999-05-15 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this highly acclaimed, provocative book, Robert Kuttner disputes the laissez-faire direction of both economic theory and practice that has been gaining in prominence since the mid-1970s. Dissenting voices, Kuttner argues, have been drowned out by a stream of circular arguments and complex mathematical models that ignore real-world conditions and disregard values that can't easily be turned into commodities. With its brilliant explanation of how some sectors of the economy require a blend of market, regulation, and social outlay, and a new preface addressing the current global economic crisis, Kuttner's study will play an important role in policy-making for the twenty-first century. "The best survey of the limits of free markets that we have. . . . A much needed plea for pragmatism: Take from free markets what is good and do not hesitate to recognize what is bad."—Jeff Madrick, Los Angeles Times "It ought to be compulsory reading for all politicians—fortunately for them and us, it is an elegant read."—The Economist "Demonstrating an impressive mastery of a vast range of material, Mr. Kuttner lays out the case for the market's insufficiency in field after field: employment, medicine, banking, securities, telecommunications, electric power."—Nicholas Lemann, New York Times Book Review "A powerful empirical broadside. One by one, he lays on cases where governments have outdone markets, or at least performed well."—Michael Hirsh, Newsweek "To understand the economic policy debates that will take place in the next few years, you can't do better than to read this book."—Suzanne Garment, Washington Post Book World

Author : Debra Satz
Publisher : Oxford University Press
ISBN 13 : 019989261X
Total Pages : 265 pages
Book Rating : 4.17/5 ( download)

DOWNLOAD NOW!

Download or read book Why Some Things Should Not Be for Sale written by Debra Satz and published by Oxford University Press. This book was released on 2012-04-19 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Why Some Things Should Not Be for Sale, philosopher Debra Satz takes a penetrating look at those commodity exchanges that strike most of us as problematic.

Author : Robert Bork
Publisher :
ISBN 13 : 9781736089712
Total Pages : 536 pages
Book Rating : 4.14/5 ( download)

DOWNLOAD NOW!

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Author : D. H. Meadows
Publisher :
ISBN 13 : 9780330241694
Total Pages : 205 pages
Book Rating : 4.99/5 ( download)

DOWNLOAD NOW!

Download or read book The Limits of Growth written by D. H. Meadows and published by . This book was released on 1974 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: