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Debunks the rosy success story about South Korean economic development by analyzing how the state and businesses formed an alliance, while excluding labor, in order to attain economic development, and how these three entities were transformed in the process. Examines development in the country between 1960 and 1990, looking at the interaction between social, economic, and political changes, and describes collaboration and conflict between the state and business. Annotation copyrighted by Book News, Inc., Portland, OR
In Big Business and the State Harland Prechel develops a conceptual framework that contrasts with prevailing definitions of the corporation. His analysis shows that corporate property rights and the legal basis of ownership are crucial to understanding corporate behavior. The book examines how historical transitions affected the three most significant corporate transformations in the last 110 years (1880s–1900s, 1920s–1930s, 1980s–1990s). During each period, in response to economic crisis, big business engaged in political behavior to pressure state managers to realign the institutional arrangements in which corporations were embedded. The historical multicausal method shows that economic crisis, managerial inefficiencies, dependence on external capital markets, and the political processes of redefining corporate property rights and corporate tax laws are crucial to understanding corporate transformation.
Walmart. Coca-Cola. BP. Toyota. The world economy runs on the profits of transnational corporations. Politicians need their backing. Non-profit organizations rely on their philanthropy. People look to their brands for meaning. And their power continues to rise. Can these companies, as so many are now hoping, provide the solutions to end the mounting global environmental crisis? Absolutely, the CEOs of big business are telling us: the commitment to corporate social responsibility will ensure it happens voluntarily. Peter Dauvergne challenges this claim, arguing instead that corporations are still doing far more to destroy than protect our planet. Trusting big business to lead sustainability is, he cautions, unwise — perhaps even catastrophic. Planetary sustainability will require reining in the power of big business, starting now.
This text examines how in South Korea, the state can execute national policies that are opposed to the interests of social constituents, despite the expansion of social power. The means of state control are examined and the relationship between government and big business groups provide an example of this. The author demonstrates how confucian values, the role of the family and a firm hierarchical tradition have prevented South Korea from developing a modern state on the western model.
An against-the-grain polemic on American capitalism from New York Times bestselling author Tyler Cowen. We love to hate the 800-pound gorilla. Walmart and Amazon destroy communities and small businesses. Facebook turns us into addicts while putting our personal data at risk. From skeptical politicians like Bernie Sanders who, at a 2016 presidential campaign rally said, “If a bank is too big to fail, it is too big to exist,” to millennials, only 42 percent of whom support capitalism, belief in big business is at an all-time low. But are big companies inherently evil? If business is so bad, why does it remain so integral to the basic functioning of America? Economist and bestselling author Tyler Cowen says our biggest problem is that we don’t love business enough. In Big Business, Cowen puts forth an impassioned defense of corporations and their essential role in a balanced, productive, and progressive society. He dismantles common misconceptions and untangles conflicting intuitions. According to a 2016 Gallup survey, only 12 percent of Americans trust big business “quite a lot,” and only 6 percent trust it “a great deal.” Yet Americans as a group are remarkably willing to trust businesses, whether in the form of buying a new phone on the day of its release or simply showing up to work in the expectation they will be paid. Cowen illuminates the crucial role businesses play in spurring innovation, rewarding talent and hard work, and creating the bounty on which we’ve all come to depend.
In 1961 South Korea was mired in poverty. By 1979 it had a powerful industrial economy and a vibrant civil society in the making, which would lead to a democratic breakthrough eight years later. The transformation took place during the years of Park Chung Hee's presidency. Park seized power in a coup in 1961 and ruled as a virtual dictator until his assassination in October 1979. He is credited with modernizing South Korea, but at a huge political and social cost. South Korea's political landscape under Park defies easy categorization. The state was predatory yet technocratic, reform-minded yet quick to crack down on dissidents in the name of political order. The nation was balanced uneasily between opposition forces calling for democratic reforms and the Park government's obsession with economic growth. The chaebol (a powerful conglomerate of multinationals based in South Korea) received massive government support to pioneer new growth industries, even as a nationwide campaign of economic shock therapy-interest hikes, devaluation, and wage cuts-met strong public resistance and caused considerable hardship. This landmark volume examines South Korea's era of development as a study in the complex politics of modernization. Drawing on an extraordinary range of sources in both English and Korean, these essays recover and contextualize many of the ambiguities in South Korea's trajectory from poverty to a sustainable high rate of economic growth.
Now in a fully revised and updated edition, this history of modern Korea explores the social, economic, and political issues it has faced since being catapulted into the wider world at the end of the nineteenth century. Placing this formerly insular society in a global context, Michael J. Seth describes how this ancient, culturally and ethnically homogeneous society first fell victim to Japanese imperialist expansionism, and then was arbitrarily divided in half after World War II. Seth traces the postwar paths of the two Koreas—with different political and social systems and different geopolitical orientations—as they evolved into sharply contrasting societies. South Korea, after an unpromising start, became one of the few postcolonial developing states to enter the ranks of the first world, with a globally competitive economy, a democratic political system, and a cosmopolitan and dynamic culture. By contrast, North Korea became one of the world's most totalitarian and isolated societies, a nuclear power with an impoverished and famine-stricken population. Considering the radically different and historically unprecedented trajectories of the two Koreas, Seth assesses the insights they offer for understanding not only modern Korea but the broader perspective of world history. All readers looking for a balanced, knowledgeable history will be richly rewarded with this clear and cogent book.
Now in a fully revised and updated edition, this comprehensive book surveys Korean history from Neolithic times to the present. Michael J. Seth explores the origins and development of Korean society, politics, and still little-known cultural heritage from their inception to the two Korean states of today. Telling the remarkable story of the origins and evolution of a society that borrowed and adopted from abroad, Seth describes how various tribal peoples in the peninsula came together to form one of the world’s most distinctive communities. He shows how this ancient, culturally and ethnically homogeneous society was wrenched into the world of late-nineteenth-century imperialism, fell victim to Japanese expansionism, and then became arbitrarily divided into two opposed halves, North and South, after World War II. Tracing the seven decades since 1945, the book explains how the two Koreas, with their deeply different political and social systems and geopolitical orientations, evolved into sharply contrasting societies. South Korea, after an unpromising start, became one of the few postcolonial developing states to enter the ranks of the first world, with a globally competitive economy, a democratic political system, and a cosmopolitan and dynamic culture. North Korea, by contrast, became one of the world’s most totalitarian and isolated societies, a nuclear power with an impoverished and famine-stricken population. Seth describes and analyzes the radically different and historically unprecedented trajectories of the two Koreas, formerly one tight-knit society. Throughout, he adds a rare dimension by placing Korean history into broader global perspective. All readers looking for a balanced, knowledgeable history will be richly rewarded with this clear and concise book.
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.