Markets and Democracy: Participation, Accountability and Efficiency

Bowles, Samuel (Editor)/ Gintis, Herbert (Editor)/ Gustafsson, Bo (Editor)

ISBN 10: 0521064112 / ISBN 13: 9780521064118

Published by Cambridge Univ Pr, 2008

1st edition. 340 pages. 8.75x6.00x1.00 inches. In Stock. This item is printed on demand. Seller Inventory # __0521064112

Synopsis:

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.

Book Description: 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- based interaction of economic agents. The contributors bring contemporary microeconomic theory to bear in an attempt to find a progressive replacement to traditional state socialism. Various approaches to the study of economic interaction are considered in an attempt to understand the relationship between power and efficiency in market economies.

Bibliographic Details

Title: Markets and Democracy: Participation, ...
Publisher: Cambridge Univ Pr
Publication Date: 2008
Binding: Paperback
Condition: Brand New