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Uses the framework of 'market in state', to argue that the Chinese economy is state-centered, dominated by political principles over economic principles.
A textbook that examines how societies reach decisions about the use and allocation of economic resources While economic research emphasizes the importance of governmental institutions for growth and progress, conventional public policy textbooks tend to focus on macroeconomic policies and on tax-and-spend decisions. Markets, State, and People stresses the basics of welfare economics and the interplay between individual and collective choices. It fills a gap by showing how economic theory relates to current policy questions, with a look at incentives, institutions, and efficiency. How should resources in society be allocated for the most economically efficient outcomes, and how does this sit with society’s sense of fairness? Diane Coyle illustrates the ways economic ideas are the product of their historical context, and how events in turn shape economic thought. She includes many real-world examples of policies, both good and bad. Readers will learn that there are no panaceas for policy problems, but there is a practical set of theories and empirical findings that can help policymakers navigate dilemmas and trade-offs. The decisions faced by officials or politicians are never easy, but economic insights can clarify the choices to be made and the evidence that informs those choices. Coyle covers issues such as digital markets and competition policy, environmental policy, regulatory assessments, public-private partnerships, nudge policies, universal basic income, and much more. Markets, State, and People offers a new way of approaching public economics. A focus on markets and institutions Policy ideas in historical context Real-world examples How economic theory helps policymakers tackle dilemmas and choices
Vito Tanzi offers a truly comprehensive treatment of the economic role of the state in the twentieth and twenty-first centuries from a historical and world perspective. The book addresses the fundamental question of what governments should do, or have attempted to do, in economic activities in past and recent periods. It also speculates on what they are likely or may be forced to do in future years. The investigation assembles a large set of statistical information that should prove useful to policy-makers and scholars in the perennial discussion of government's optimal economic roles. It will become an essential reference work on the analytical borders between the market and the state, and on what a reasonable 'exit strategy' from the current fiscal crises should be.
Policy debates are often grounded within the conceptual confines of a state-market dichotomy, as though the two existed in complete isolation. In this innovative text, Marc Allen Eisner portrays the state and the market as inextricably linked, exploring the variety of institutions subsumed by the market and the role that the state plays in creating the institutional foundations of economic activity. Through a historical approach, Eisner situates the study of American political economy within a larger evolutionary-institutional framework that integrates perspectives in American political development and economic sociology. This volume provides a rich understanding of the complexity of U.S. economic policy, explaining how public policies become embedded in bureaucracy and reinforced by organized beneficiaries and public expectations. This path-dependent layering process helps students better understand the underlying historical dynamics, which provide a clearer sense of the constraints faced by policymakers now and in the future. The revisions to the second edition include: Complete rewrite of the chapter on the recent financial crisis, adding in commentary on the debt ceiling, the fiscal cliff, and other recent events. New material added and existing material updated in the chapter discussing the two welfare states. Extensive updates to the coverage of the global economy Expanded and updated discussion of Obama’s economic policies. Updates to figures and data throughout the text.
After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs, and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.
European social democracy is in crisis. In the last decade it has ceased to be about either society or democracy. The authors explore its values, how it can be revived and what kind of political economy it requires to thrive. This book includes a foreword by the two leaders of the 'Building the Good Society' project, Andrea Nahles and Jon Cruddas.
David Miller makes a comprehensive analysis of an economy in which market mechanisms retain a central role, but in which capitalist patterns of ownership have been superceded. He provides a clear, coherent statement of the theoretical basis of market socialism, and justifies it as a viable political option.
"We are at a moment in world affairs when the essential ideas that govern statecraft must change. For five centuries it has taken the resources of a state to destroy another state . . . This is no longer true, owing to advances in international telecommunications, rapid computation, and weapons of mass destruction. The change in statecraft that will accompany these developments will be as profound as any that the State has thus far undergone." —from the Prologue The Shield of Achilles is a classic inquiry into the nature of the State, its origin in war, and its drive for peace and legitimacy. Philip Bobbitt, a professor of constitutional law and a historian of nuclear strategy, has served in the White House, the Senate, the State Department, and the National Security Council in both Democratic and Republican administrations, and here he brings his formidable experience and analytical gifts to bear on our changing world. Many have observed that the nation-state is dying, yet others have noted that the power of the State has never been greater. Bobbitt reconciles this paradox and introduces the idea of the market-state, which is already replacing its predecessor. Along the way he treats such themes as the Long War (which began in 1914 and ended in 1990). He explains the relation of violence to legitimacy, and the role of key individuals in fates that are partially—but only partially—determined. This book anticipates the coalitional war against terrorism and lays out alternative futures for the world. Bobbitt shows how nations might avoid the great power confrontations that have a potential for limitless destruction, and he traces the origin and evolution of the State to such wars and the peace conferences that forged their outcomes into law, from Augsburg to Westphalia to Utrecht to Vienna to Versailles. The author paints a powerful portrait of the ever-changing interrelatedness of our world, and he uses his expertise in law and strategy to discern the paths that statehood will follow in the coming years and decades. Timely and perceptive, The Shield of Achilles will change the way we think about the world.
As the only textbook that presents the full range of theoretical approaches and current debates on economic development, John Martinussen's guide is an essential reader and student text on this topic.
'How to combine the community, the market, and the state in the total economic system is probably the most important agenda for economists geared towards the reduction of poverty in developing economies'. - Professor Yujiro Hayami This volume brings together leading scholars from all around the world to examine and extend Professor Hayami's development model of 'community, market and state', and to pay tribute to his invaluable contribution to economics. The authors provide new empirical analysis with a clear focus on the role of the community in economic development, and its relations with agricultural markets, industrialization and the government, using primary data from major countries in Asia and Africa. This book is indispensable reading for all interested in development economics, government and market studies and international development studies.