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What the authors offer is a thoroughgoing analysis clearly demonstrating that, whatever economic path developing countries pursue, imposing Western-style antitrust regimes will engender uncertainty, chill economic behaviour, and foster an unhealthy climate for business. They employ the influential error-cost methodology to appraise the performance of competition policy and to show how such a policy creates irresolvable tensions in fragile economies with weak institutions - economies characterized by informal rules of business practice, long-standing symbiotic business-state relationships, and unpredictable state action. They mount a powerful critique of the arguments of neo-institutionalists (who fail to recognize the vulnerable nature of emerging market economies) and competition `advocates' (who presume to stand ready and vigilant to enforce competition policy on state entities). --
This text was the basis for a presentation of the book Knowledge and Coordination: A Liberal Interpretation (Oxford University Press, 2012). The lecture discusses the richness of knowledge, the distinction between concatenate and mutual coordination, and the relation of these to a liberal outlook that the author associates with Adam Smith.
This two-volume collection looks at the life and work of Alfred Pritchard Sloan, Jr. (1875-1966), chief executive of General Motors from 1923 to 1946, whose unique and ahead-of-its-time management style left an indelible mark on business and management studies.Also featuring an extensive bibliography, this set will prove valuable to business students and researchers alike.
Since the first edition of Who Shall Live? (1974), over 100,000 students, teachers, physicians, and general readers from more than a dozen fields have found this book to be a reader-friendly, authoritative introduction to economic concepts applied to health and medical care.Health care is by far the largest industry in the United States. It is three times larger than education and five times as large as national defense. In 2001, Americans spent over $12,500 per person for hospitals, physicians, drugs and other health care services and goods. Other high-income democracies spend one third less, enjoy three more years of life expectancy, and have more equal access to medical care.In this book, each of the chapters of the original edition is followed by supplementary readings on such subjects as: 'Social Determinants of Health: Caveats and Nuances', 'The Structure of Medical Education — It's Time for a Change', and 'How to Save $1 Trillion Out of Health Care'.The ten years following publication of the 2nd expanded edition in 2011 were arguably more turbulent for US health and health care than any other ten-year period since World War II. They span the implementation of the Affordable Care Act, the deepening opioid epidemic, and the physical, psychological, and socio-economic traumas of the COVID-19 pandemic.An important new contribution to this book is to describe and analyze the changes in five sections: 'The Affordable Care Act and the Uninsured', 'Health Care Expenditures', 'Health Outcomes', 'The COVID-19 Pandemic', and 'Health and Politics'. This part includes 24 tables and figures.This book will be welcomed by students, professionals, and life-long learners to gain increased understanding of the relation between health, economics, and social choice.
In Stateless Commerce, Barak Richman uses the colorful case study of the diamond industry to explore how ethnic trading networks operate and why they persist in the twenty-first century. How, for example, does the 47th Street diamond district in midtown Manhattan—surrounded by skyscrapers and sophisticated financial institutions—continue to thrive as an ethnic marketplace that operates like a traditional bazaar? Conventional models of economic and technological progress suggest that such primitive commercial networks would be displaced by new trading paradigms, yet in the heart of New York City the old world persists. Richman’s explanation is deceptively simple. Far from being an anachronism, 47th Street’s ethnic enclave is an adaptive response to the unique pressures of the diamond industry. Ethnic trading networks survive because they better fulfill many functions usually performed by state institutions. While the modern world rests heavily on lawyers, courts, and state coercion, ethnic merchants regularly sell goods and services by relying solely on familiarity, trust, and community enforcement—what economists call “relational exchange.” These commercial networks insulate themselves from the outside world because the outside world cannot provide those assurances. Extending the framework of transactional cost and organizational economics, Stateless Commerce draws on rare insider interviews to explain why personal exchange succeeds, even as most global trade succumbs to the forces of modernization, and what it reveals about the limitations of the modern state in governing the economy.
Introduction -- Early institutionalists -- Institutional theory meets organization studies -- Crafting an analytic framework I : three pillars of institutions -- Constructing an analytic framework II : content, agency, carriers, and levels -- Institutional construction -- Institutionalization -- Institutional processes and organizations -- Institutional processes and organization fields -- An overview and a caution.
Since the first edition of Who Shall Live? (1974) over 100,000 students, teachers, physicians, and general readers from more than a dozen fields have found this book to be a reader-friendly, authoritative introduction to economic concepts applied to health and medical care. Fuchs provides clear explanations and memorable examples of the importance of the non-medical determinants of health, the dominant role of physicians in health care expenditures, the necessity of choices about health at the individual and societal levels, and many other compelling themes.Now, in a new introduction of some 8,000 words including new tables and figures, Fuchs, often called the “Dean of health economists”, concisely summarizes the major changes of the past 37 years in health, medical care, and health policy. He focuses primarily on the United States but includes remarks about health policy in other countries, and addresses the question of whether national health care systems are becoming more alike. In addition to reviewing changes, the introduction explains why health expenditures grow so rapidly, why health spending in the United States is so much greater than in other countries, and what physicians need in order to practice cost-effective medicine.This second expanded edition also includes recent papers by Fuchs on the economics of aging, the socio-economic correlates of health, the future of health economics, and his policy recommendations for the United States to secure universal coverage, control of costs, and improvement in the quality of care. As was true of the first expanded edition (1998), this book will be welcomed by current students and life-long learners in economics, other social and behavioral sciences, medicine, public health, law, business, public policy, and other fields who want to understand the relation between health, economics, and social choice.