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Author: Peter J. Boettke
Publisher: Taylor & Francis
ISBN: 9780415216586
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
Author: Peter J. Boettke
Publisher: Taylor & Francis
ISBN: 9780415216586
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
Author: Leonid Hurwicz
Publisher: Cambridge University Press
ISBN: 113945434X
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
A mechanism is a mathematical structure that models institutions through which economic activity is guided and coordinated. There are many such institutions; markets are the most familiar ones. Lawmakers, administrators and officers of private companies create institutions in order to achieve desired goals. They seek to do so in ways that economize on the resources needed to operate the institutions, and that provide incentives that induce the required behaviors. This book presents systematic procedures for designing mechanisms that achieve specified performance, and economize on the resources required to operate the mechanism. The systematic design procedures are algorithms for designing informationally efficient mechanisms. Most of the book deals with these procedures of design. When there are finitely many environments to be dealt with, and there is a Nash-implementing mechanism, our algorithms can be used to make that mechanism into an informationally efficient one. Informationally efficient dominant strategy implementation is also studied.
Author: Ludwig von Mises
Publisher: VM eBooks
ISBN:
Category : Business & Economics
Languages : en
Pages : 766
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Book Description
Socialism is the watchword and the catchword of our day. The socialist idea dominates the modem spirit. The masses approve of it. It expresses the thoughts and feelings of all; it has set its seal upon our time. When history comes to tell our story it will write above the chapter “The Epoch of Socialism.” As yet, it is true, Socialism has not created a society which can be said to represent its ideal. But for more than a generation the policies of civilized nations have been directed towards nothing less than a gradual realization of Socialism.17 In recent years the movement has grown noticeably in vigour and tenacity. Some nations have sought to achieve Socialism, in its fullest sense, at a single stroke. Before our eyes Russian Bolshevism has already accomplished something which, whatever we believe to be its significance, must by the very magnitude of its design be regarded as one of the most remarkable achievements known to world history. Elsewhere no one has yet achieved so much. But with other peoples only the inner contradictions of Socialism itself and the fact that it cannot be completely realized have frustrated socialist triumph. They also have gone as far as they could under the given circumstances. Opposition in principle to Socialism there is none. Today no influential party would dare openly to advocate Private Property in the Means of Production. The word “Capitalism” expresses, for our age, the sum of all evil. Even the opponents of Socialism are dominated by socialist ideas. In seeking to combat Socialism from the standpoint of their special class interest these opponents—the parties which particularly call themselves “bourgeois” or “peasant”—admit indirectly the validity of all the essentials of socialist thought. For if it is only possible to argue against the socialist programme that it endangers the particular interests of one part of humanity, one has really affirmed Socialism. If one complains that the system of economic and social organization which is based on private property in the means of production does not sufficiently consider the interests of the community, that it serves only the purposes of single strata, and that it limits productivity; and if therefore one demands with the supporters of the various “social-political” and “social-reform” movements, state interference in all fields of economic life, then one has fundamentally accepted the principle of the socialist programme. Or again, if one can only argue against socialism that the imperfections of human nature make its realization impossible, or that it is inexpedient under existing economic conditions to proceed at once to socialization, then one merely confesses that one has capitulated to socialist ideas. The nationalist, too, affirms socialism, and objects only to its Internationalism. He wishes to combine Socialism with the ideas of Imperialism and the struggle against foreign nations. He is a national, not an international socialist; but he, also, approves of the essential principles of Socialism.
Author: Byung-Yeon Kim
Publisher: Cambridge University Press
ISBN: 1107183790
Category : Business & Economics
Languages : en
Pages : 343
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Book Description
A comprehensive, systematic analysis of the North Korean economy, exposing its hidden workings through quantitative data analysis and surveys.
Author: Hans-Hermann Hoppe
Publisher: Springer Science & Business Media
ISBN: 9401578494
Category : Business & Economics
Languages : en
Pages : 281
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Book Description
Author: Joseph E. Stiglitz
Publisher: MIT Press
ISBN: 9780262691826
Category : Business & Economics
Languages : en
Pages : 360
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Book Description
The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies. Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.
Author: Benjamin Peters
Publisher: MIT Press
ISBN: 0262334186
Category : Technology & Engineering
Languages : en
Pages : 313
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Book Description
How, despite thirty years of effort, Soviet attempts to build a national computer network were undone by socialists who seemed to behave like capitalists. Between 1959 and 1989, Soviet scientists and officials made numerous attempts to network their nation—to construct a nationwide computer network. None of these attempts succeeded, and the enterprise had been abandoned by the time the Soviet Union fell apart. Meanwhile, ARPANET, the American precursor to the Internet, went online in 1969. Why did the Soviet network, with top-level scientists and patriotic incentives, fail while the American network succeeded? In How Not to Network a Nation, Benjamin Peters reverses the usual cold war dualities and argues that the American ARPANET took shape thanks to well-managed state subsidies and collaborative research environments and the Soviet network projects stumbled because of unregulated competition among self-interested institutions, bureaucrats, and others. The capitalists behaved like socialists while the socialists behaved like capitalists. After examining the midcentury rise of cybernetics, the science of self-governing systems, and the emergence in the Soviet Union of economic cybernetics, Peters complicates this uneasy role reversal while chronicling the various Soviet attempts to build a “unified information network.” Drawing on previously unknown archival and historical materials, he focuses on the final, and most ambitious of these projects, the All-State Automated System of Management (OGAS), and its principal promoter, Viktor M. Glushkov. Peters describes the rise and fall of OGAS—its theoretical and practical reach, its vision of a national economy managed by network, the bureaucratic obstacles it encountered, and the institutional stalemate that killed it. Finally, he considers the implications of the Soviet experience for today's networked world.
Author: John E. Roemer
Publisher: Yale University Press
ISBN: 0300233337
Category : Philosophy
Languages : en
Pages : 249
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Book Description
A new theory of how and why we cooperate, drawing from economics, political theory, and philosophy to challenge the conventional wisdom of game theory Game theory explains competitive behavior by working from the premise that people are self-interested. People don't just compete, however; they also cooperate. John Roemer argues that attempts by orthodox game theorists to account for cooperation leave much to be desired. Unlike competing players, cooperating players take those actions that they would like others to take--which Roemer calls "Kantian optimization." Through rigorous reasoning and modeling, Roemer demonstrates a simpler theory of cooperative behavior than the standard model provides.
Author: Lawrence J. Gitman
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 1455
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Book Description
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
Author: János Kornai
Publisher: Oxford University Press, USA
ISBN: 0199334765
Category : Business & Economics
Languages : en
Pages : 206
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Book Description
In this book, János Kornai examines capitalism as an economic system and in comparison to socialism. The two essays of this book will explore these differing ideologies on macro and micro levels, ending with definitive explanations of how the systems work and how they develop.
