Markets and Democracy
Participation, Accountability and Efficiency
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Markets and Democracy by Samuel Bowles
Book DescriptionThe market does not spontaneously generate democratic or participatory economic institutions. This book asks whether a modern, efficient economy can be rendered democratically accountable and, if so, what strategic changes might be required to regulate the market-mediated interaction of economic agents. The contributors bring contemporary microeconomic theory to bear on a range of related issues, including the relationship between democratic firms and efficiency in market economies; incentives and the relative merits of various forms of internal democratic decision-making; and the effects of democratically accountable firms on innovation, saving, investment, and on the informational and disciplinary aspects of markets. Various approaches to the study of economic interaction (game theory, transactions' cost analysis, social choice theory, rent-seeking, etc.) are considered in an attempt to understand the relationship between power and efficiency in market economies.
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Book DetailsISBN: 9780521432238
(228mm x 152mm x 24mm)
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 22-Jul-1993
Country of Publication: United Kingdom
Books By Author Samuel Bowles
Moral Economy, Hardback (July 2016)View all books by Samuel Bowles
Why do policies and business practices that ignore the moral and generous side of human nature often fail?
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