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Markets and Democracy: Participation, Accountability and EfficiencyFrom Cambridge University Press
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The 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.
- Sales Rank: #4446091 in Books
- Brand: Cambridge University Press
- Published on: 1993-07-30
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Dimensions: 8.98" h x .94" w x 5.98" l, 1.53 pounds
- Binding: Hardcover
- 360 pages
- Used Book in Good Condition
Review
"...Markets and Democracy is the sort of collection many readers will find useful." Journal of Economic Literature
"The book contains much else of interest including a substantial, unified bibliography. In spite of the game-theoretic approach, I learned a lot from it. Because of the game-theoretic approach, orthodox economists will too." William M. Dugger, Journal of Economic Issues
About the Author
Samuel Bowles heads the Behavioral Sciences Program at the Santa Fe Institute. He previously taught economics at Harvard University, the University of Massachusetts and the University of Siena. He is the author, most recently, of Microeconomics: Behavior, Institutions, and Evolution (2004), A Cooperative Species: Human Reciprocity and its Evolution (2011, with Herbert Gintis) and articles in Science, Nature, the Quarterly Journal of Economics, the Journal of Public Economics and other academic journals. He has also served as an economic advisor to presidential candidates Robert F. Kennedy and Jesse Jackson, and former South African President Nelson Mandela and has taught crash courses in economics to trade unionists, community activists and others.
Herbert Gintis holds faculty positions at the Santa Fe Institute and Central European University. He is the author of "Game Theory Evolving" (Princeton), coauthor of "A Cooperative Species: Human Reciprocity and Its Evolution" with Samuel Bowles (Princeton), and the coeditor of numerous books, including "Moral Sentiments and Material Interests", "Unequal Chances" (Princeton), and "Foundations of Human Sociality".
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