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Author: Richard R. Nelson
Publisher: Harvard University Press
ISBN: 9780674041431
Category : Business & Economics
Languages : en
Pages : 456
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Book Description
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Author: Richard R. Nelson
Publisher: Harvard University Press
ISBN: 9780674041431
Category : Business & Economics
Languages : en
Pages : 456
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Book Description
This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.
Author: Douglass C. North
Publisher: Princeton University Press
ISBN: 0691145954
Category : Business & Economics
Languages : en
Pages : 200
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Book Description
In this landmark work, a Nobel Prize-winning economist develops a new way of understanding the process by which economies change. Douglass North inspired a revolution in economic history a generation ago by demonstrating that economic performance is determined largely by the kind and quality of institutions that support markets. As he showed in two now classic books that inspired the New Institutional Economics (today a subfield of economics), property rights and transaction costs are fundamental determinants. Here, North explains how different societies arrive at the institutional infrastructure that greatly determines their economic trajectories. North argues that economic change depends largely on "adaptive efficiency," a society's effectiveness in creating institutions that are productive, stable, fair, and broadly accepted--and, importantly, flexible enough to be changed or replaced in response to political and economic feedback. While adhering to his earlier definition of institutions as the formal and informal rules that constrain human economic behavior, he extends his analysis to explore the deeper determinants of how these rules evolve and how economies change. Drawing on recent work by psychologists, he identifies intentionality as the crucial variable and proceeds to demonstrate how intentionality emerges as the product of social learning and how it then shapes the economy's institutional foundations and thus its capacity to adapt to changing circumstances. Understanding the Process of Economic Change accounts not only for past institutional change but also for the diverse performance of present-day economies. This major work is therefore also an essential guide to improving the performance of developing countries.
Author: David Rose
Publisher: Routledge
ISBN: 1000562654
Category : Social Science
Languages : en
Pages : 197
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Book Description
First published in 1988, Social Stratification and Economic Change brings together, for the first time in textbook form, some of the most significant work both theoretical and empirical on stratification in Britain. In part I, David Rose provides on overview of stratification research, and papers from David Lockwood, John Goldthorpe, Gordon Marshall, Ray Pahl, and Claire Wallace tackle key theoretical issues. In part II, six papers commissioned for the book report on empirical studies and their implications. By bringing together an outstanding group of authors, all at the forefront of their field, the book makes an important contribution to debates on social stratification and will be invaluable for both students and researchers in sociology.
Author: Jillian Jimenez
Publisher: SAGE Publications
ISBN: 148332415X
Category : Social Science
Languages : en
Pages : 520
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Book Description
The Second Edition of Social Policy and Social Change is a timely examination of the field, unique in its inclusion of both a historical analysis of problems and policy and an exploration of how capitalism and the market economy have contributed to them. The New Edition of this seminal text examines issues of discrimination, health care, housing, income, and child welfare and considers the policies that strive to improve them. With a focus on how domestic social policies can be transformed to promote social justice for all groups, Jimenez et al. consider the impact of globalization in the United States while addressing developing concerns now emerging in the global village.
Author: Yiorgos Stathakis
Publisher: Routledge
ISBN: 1134313071
Category : Business & Economics
Languages : en
Pages : 572
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Book Description
Some of the greatest thinkers in the history of economic thought have been instrumental in advancing the study of development economics. In this volume, leading scholars are brought together to illuminate this tradition, with particular emphasis on the question of growth and development. Divided into two parts, this collection offers a blend of papers of history of economic thought and development economics, and suggests that classical political economy - that strand of thought which goes from Physiocracy to Smith and to Ricardo and Marx - has a precise vision and indeed a precise model of long term development. This book: examines the influence that has been exerted by both pre-classical and classical thought on modern day development economics provides a synthetic analysis of the classical vision of growth and development from the mercantilist era to physiocracy examines Adam Smith’s contribution to growth theory explores Marxian thinking and ideas, and the political developments that gave rise to state functions in post-war theory. Including contributions by well known authors such as Eltis, Murphy and Kurz, this significant volume by one of the premier historians of economic thought will be a valuable resource for postgraduates and professionals in the fields of economic history and political economy.
Author: Clifford Geertz
Publisher:
ISBN:
Category : Social Science
Languages : en
Pages : 192
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Book Description
In a closely observed study of two Indonesian towns, Clifford Geertz analyzes the process of economic change in terms of people and behavior patterns rather than income and production. One of the rare empirical studies of the earliest stages of the transition to modern economic growth, Peddlers and Princes offers important facts and generalizations for the economist, the sociologist, and the South East Asia specialist. "Peddlers and Princes is, like much of Geertz's other writing, eminently rewarding . . . Case study and broader theory are brought together in an illuminating marriage."—Donald Hindley, Annals of The American Academy of Political and Social Science "What makes the book fascinating is the author's capacity to relate his anthropological findings to questions of central concern to the economist . . . "—H. G. Johnson, Journal of Political Economy
Author: Hasse Ekstedt
Publisher: Routledge
ISBN: 1136948821
Category : Business & Economics
Languages : en
Pages : 325
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Book Description
This book is a discourse on modelling Man in a social context. Its focus is on economic main-stream theory in its capacity to handle basic problems such as uncertainty, social dynamics and ethics. The point of departure is a systematic critique of the specific methodology of economics and its axiomatic structure. The ultimate aim is to develop an economic theory for a socially sustainable society. Economic Theory and Social Change analyses the foundation of economic market theory in relation to its social implications. On rejecting the axiomatic structure of the market theory Hasse Ekstedt and Angelo Fusari analyse the concept of growth and uncertainty with respect to a more realistic modelling of man, The book also addresses central political problems and their potential solutions, including permanent unemployment, distribution of income, the interaction of real and financial growth, money and the credit system. In seeking objective values to help to obtain a socially sustainable society, the book traces a tentative revision of economic and social thought based on a deepening of some crucial features of modern economies and societies. These features include innovation, the connected flows of uncertainty, entrepreneurship, and their role in fuelling and characterizing economic growth and development. This book will be of interest to postgraduate students and researchers of Economics, particularly to those focussing on Economic Theory and Political Economy.
Author: Frank Bliss
Publisher: Routledge
ISBN: 1134396171
Category : Business & Economics
Languages : en
Pages : 399
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Book Description
This work takes a comprehensive look at the history, anthropology and recent social and economic development of the Pamiri people in Gorno-Badakhshan, Eastern Tajikistan.
Author: Philip Oxhorn
Publisher: Penn State Press
ISBN: 0271048948
Category : Political Science
Languages : en
Pages : 296
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Book Description
"Devoting particular emphasis to Bolivia, Chile, and Mexico, proposes a theory of civil society to explain the economic and political challenges for continuing democratization in Latin America"--Provided by publisher.
Author: Walter Leal Filho
Publisher: Springer Science & Business Media
ISBN: 3642147763
Category : Business & Economics
Languages : en
Pages : 860
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Book Description
A unique feature of this book is its strong practice-oriented nature: it contains a wide range of papers dealing with the social, economic and political aspects of climate change, exemplifying the diversity of approaches to climate change management taking place all over the world, in a way never seen before. In addition, the book describes a number of projects and other initiatives happening in Africa, Asia, Europe, Latin American and the Australasian region, providing a profile of the diversity of works taking place today.
