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Author: Israel M. Kirzner Publisher: Collected Works of Israel M. K ISBN: 9780865978607 Category : Business & Economics Languages : en Pages : 0
Book Description
Discovery, Capitalism, and Distributive Justice makes Kirzner's case for the idea that entrepreneurial profit is both essential for an economy and profoundly just. Asserting that the problem with standard criticism of capitalist income distribution is a failure to see capitalism as a "discovery procedure," Kirzner argues that production and subsequent profit are neither automatic nor guaranteed. This important contribution to the larger debate of the capitalist system clarifies core economic issues, so that the positive science of economics can enlighten our understanding of justice in capitalist distribution. Successful production always results from the discovery of an opportunity to obtain new gains from trade, i.e., the discovery of entrepreneurial profit. Kirzner shows that profit is the just and fair possession of its discoverer. This is what he calls the "finders-keepers" rule: "The finders-keepers rule asserts that an unowned object becomes the justly owned property of the first person who, discovering its availability and its potential value, takes possession of it." Richard Ebeling reviewed the work in 1989, saying, "the heart of Professor Kirzner's argument is that every discovery of a new opportunity is the appropriation of that which had not existed before a human mind had seen the potential in that object." Kirzner's monograph is complemented here by three important articles on the subject of economic justice, a critique of Kirzner's theory, and a reply from Kirzner to that critique. Kirzner's finders-keepers rule of entrepreneurial profit and market distribution stands as one of the foremost defenses of the distribution of income and profit in the free-enterprise system. Israel M. Kirzner is a leading economist in the Austrian School and Professor Emeritus of Economics at New York University. Peter J. Boettke is University Professor of Economics and Philosophy at George Mason University and the BB&T Professor for the Study of Capitalism at the Mercatus Center. His publications include Living Economics, The Handbook of Contemporary Austrian Economics, and The Elgar Companion to Austrian Economics. He has been the editor of The Review of Austrian Economics since 1998. Frédéric Sautet is Associate Professor at The Catholic University of America, School of Business and Economics. He is a specialist in Austrian market process theory and teaches entrepreneurship studies. He has taught at George Mason University of Paris Dauphine. He is the author of An Entrepreneurial Theory of the Firm and has published widely on entrepreneurship.
Author: Israel M. Kirzner Publisher: Collected Works of Israel M. K ISBN: 9780865978607 Category : Business & Economics Languages : en Pages : 0
Book Description
Discovery, Capitalism, and Distributive Justice makes Kirzner's case for the idea that entrepreneurial profit is both essential for an economy and profoundly just. Asserting that the problem with standard criticism of capitalist income distribution is a failure to see capitalism as a "discovery procedure," Kirzner argues that production and subsequent profit are neither automatic nor guaranteed. This important contribution to the larger debate of the capitalist system clarifies core economic issues, so that the positive science of economics can enlighten our understanding of justice in capitalist distribution. Successful production always results from the discovery of an opportunity to obtain new gains from trade, i.e., the discovery of entrepreneurial profit. Kirzner shows that profit is the just and fair possession of its discoverer. This is what he calls the "finders-keepers" rule: "The finders-keepers rule asserts that an unowned object becomes the justly owned property of the first person who, discovering its availability and its potential value, takes possession of it." Richard Ebeling reviewed the work in 1989, saying, "the heart of Professor Kirzner's argument is that every discovery of a new opportunity is the appropriation of that which had not existed before a human mind had seen the potential in that object." Kirzner's monograph is complemented here by three important articles on the subject of economic justice, a critique of Kirzner's theory, and a reply from Kirzner to that critique. Kirzner's finders-keepers rule of entrepreneurial profit and market distribution stands as one of the foremost defenses of the distribution of income and profit in the free-enterprise system. Israel M. Kirzner is a leading economist in the Austrian School and Professor Emeritus of Economics at New York University. Peter J. Boettke is University Professor of Economics and Philosophy at George Mason University and the BB&T Professor for the Study of Capitalism at the Mercatus Center. His publications include Living Economics, The Handbook of Contemporary Austrian Economics, and The Elgar Companion to Austrian Economics. He has been the editor of The Review of Austrian Economics since 1998. Frédéric Sautet is Associate Professor at The Catholic University of America, School of Business and Economics. He is a specialist in Austrian market process theory and teaches entrepreneurship studies. He has taught at George Mason University of Paris Dauphine. He is the author of An Entrepreneurial Theory of the Firm and has published widely on entrepreneurship.
Author: Robert Meister Publisher: University of Chicago Press ISBN: 022673451X Category : Political Science Languages : en Pages : 305
Book Description
More than ten years after the worst crisis since the Great Depression, the financial sector is thriving. But something is deeply wrong. Taxpayers bore the burden of bailing out “too big to fail” banks, but got nothing in return. Inequality has soared, and a populist backlash against elites has shaken the foundations of our political order. Meanwhile, financial capitalism seems more entrenched than ever. What is the left to do? Justice Is an Option uses those problems—and the framework of finance that created them—to reimagine historical justice. Robert Meister returns to the spirit of Marx to diagnose our current age of finance. Instead of closing our eyes to the political and economic realities of our era, we need to grapple with them head-on. Meister does just that, asking whether the very tools of finance that have created our vastly unequal world could instead be made to serve justice and equality. Meister here formulates nothing less than a democratic financial theory for the twenty-first century—one that is equally conversant in political philosophy, Marxism, and contemporary politics. Justice Is an Option is a radical, invigorating first page of a new—and sorely needed—leftist playbook.
Author: John Arthur Publisher: Pearson ISBN: Category : Business & Economics Languages : en Pages : 356
Book Description
This in-depth examination of the major theories of economic justice focuses on the central question: What should the economic distribution of goods and services be based on?
Author: Michael Novak Publisher: Encounter Books ISBN: 1594038287 Category : Political Science Languages : en Pages : 336
Book Description
What is social justice? For Friedrich Hayek, it was a mirage—a meaningless, ideological, incoherent, vacuous cliché. He believed the term should be avoided, abandoned, and allowed to die a natural death. For its proponents, social justice is a catchall term that can be used to justify any progressive-sounding government program. It endures because it venerates its champions and brands its opponents as supporters of social injustice, and thus as enemies of humankind. As an ideological marker, social justice always works best when it is not too sharply defined. In Social Justice Isn’t What You Think It Is, Michael Novak and Paul Adams seek to clarify the true meaning of social justice and to rescue it from its ideological captors. In examining figures ranging from Antonio Rosmini, Abraham Lincoln, and Hayek, to Popes Leo XIII, John Paul II, and Francis, the authors reveal that social justice is not a synonym for “progressive” government as we have come to believe. Rather, it is a virtue rooted in Catholic social teaching and developed as an alternative to the unchecked power of the state. Almost all social workers see themselves as progressives, not conservatives. Yet many of their “best practices” aim to empower families and local communities. They stress not individual or state, but the vast social space between them. Left and right surprisingly meet. In this surprising reintroduction of its original intention, social justice represents an immensely powerful virtue for nurturing personal responsibility and building the human communities that can counter the widespread surrender to an ever-growing state.
Author: Bruce J. Caldwell Publisher: Springer Science & Business Media ISBN: 9401121869 Category : Business & Economics Languages : en Pages : 293
Book Description
When we first invited the group of distinguished scholars represented here to contribute to a new volume on Austrian economics, four themes were stressed: tensions, new directions, selectivity, and criticism. In this brief introduction we will explain why those themes were emphasized and thereby shed light on our intentions and aspirations for the volume. The subtitle "Tensions and New Directions" indicates clearly the intent of the volume desired. If we take the 1871 publication of Carl Menger's Principles of Economics (Grundsiitze der Volkswirthschaftslehre) as mark ing its birth, the Austrian tradition is now well over one hundred years old. The origins of the so-called "Austrian Revival" are more difficult to pinpoint precisely, but many would accept two decades as a reasonable estimate of its lifespan. In any case, since the mid-1970s several collections of articles written by Austrians have been published. The intent of these collections appeared to be to educate, persuade, and inspire various audiences. Uninformed readers needed to be told about the specifics of the Austrian position, to be shown how it differed from and improved upon its rivals. The initiated needed to be reassured that their commitment to a novel program was justified. As such, much of the recent Austrian literature has consisted either of exegetical accounts of the views of past figures, or of critical assessments of the positions of alternative research programs in economics from an Austrian perspective.
Author: Israel M. Kirzner Publisher: ISBN: 9780255366762 Category : Austrian school of economics Languages : en Pages : 81
Book Description
Mainstream neo-classical economics focuses on already attained states of equilibrium. It is silent about the processes of adjustment to equilibrium; Human action consists of 'grappling with an essentially unknown future', not being confronted with clearly specified objectives, known resources and defined courses of action as mainstream theory assumes; Critics of the market economy find ammunition in neo-classical theory: they 'merely need to tick off the respects in which real world capitalism departs from the requirements for perfectly competitive optimality'; The theory of entrepreneurial discovery allows economists to escape from the 'analytical box' in which 'choice' simply consists of computing a solution implicit in given data; An entrepreneurial act of discovery consists in 'realising the existence of market value that has hitherto been overlooked'. Scope for entrepreneurial discovery occurs in a world of disequilibrium -- which is quite different from the equilibrium world of mainstream economics where market outcomes are foreordained; Entrepreneurial discovery explains why one price tends to prevail in a market. Though new causes of price differences continually appear, entrepreneurs exploit the resulting profit opportunities and produce a tendency towards a single price; Only with the introduction of entrepreneurship is it possible to appreciate how markets work. Without entrepreneurship, there would be no market co-ordination; So-called 'imperfections' of competition are often 'crucial elements in the market process of discovery and correction of earlier entrepreneurial errors'; Advertising expenditures, for example, are means of alerting consumers to 'what they do not know that they do not know'. Anti-trust laws may hamper market processes and prevent competitive entry to markets; so. Entrepreneurial profit, far from generating injustice, is a 'created gain'. It is not `sliced from a pre-existing pie ... it is a portion which has been created in the very act of grasping it'.
Author: Julie Guthman Publisher: Univ of California Press ISBN: 0520266242 Category : Social Science Languages : en Pages : 242
Book Description
"A bold, compelling challenge to conventional thinking about obesity and its fixes, Weighing In is one of the most important books on food politics to hit the shelves in a long time." —Susanne Freidberg, author of Fresh: A Perishable History "Weighing In is filled with counterintuitive surprises that should make us skeptics of all kinds of food -- whether local, fast, slow, junk or health -- but also gives us the practical tools to effectively scrutinize the stale buffet of popularly-accepted health wisdom before we digest it." —Paul Robbins, professor of Geography and Development, University of Arizona "If you liked Michael Pollan, this should be your next read. Guthman gives us the research behind the questions we should be asking, but, falling all over ourselves in the rush to consensus, we have overlooked. A self-described Berkeley foodie, Guthman takes on the self-satisfaction of the alternative food movement and places it in rich context, drawing on research in health, economics, labor, agriculture, sociology, and politics. This marvelous, surprising book is a true game-changer in our national conversation about food and justice." —Anna Kirkland, author of Fat Rights: Dilemmas of Difference and Personhood “This groundbreaking book calls into question the ubiquitous claim that ‘good food’ will solve the social and health dilemmas of today. Combining political economic analysis, cultural critique, and clear explanation of scientific discoveries, the author challenges our deeply held convictions about society, food, bodies, and environments.” —Becky Mansfield, editor of Privatization: Property and the Remaking of Nature-Society Relations "Step back from that farmer's market -- Guthman shows us that good foods and good eating are not enough. By questioning the fuzzy facts on obesity, the impact of environment, and capitalism's relentless push to consume, Weighing In challenges us to think harder, and better, about what it really takes to be healthy in the modern age." —Carolyn de la Peña, author of Empty Pleasures: The Story of Artificial Sweetener from Saccharin to Splenda
Author: David Gordon Publisher: Routledge ISBN: 1351493140 Category : Political Science Languages : en Pages : 143
Book Description
The last two decades have seen Marxism's academic renascence. In fields as diverse as law, literary criticism, history, and philosophy, Marxism once again captivates no small number of scholars. In part, this reassessment is driven by the efforts of a group of philosophers and economists to reconstruct Marx from the ground up on a more rigorous basis. The work of these "Analytical Marxists" — who include G.A. Cohen, Jon Elster, and John Roemer — is given a sustained examination and critique in David Gordon's Resurrecting Marx. The charge of the Analytical Marxists that capitalism is inherently exploitative and unjust is the primary subject of Gordon's book. Gordon takes issue with that contention; he argues that the Analytical Marxists' withering criticism of classical Marxism is essentially correct, but that they fail to replace it with a superior theoretical edifice. Gordon also analyzes the Analytical Marxists' reformulation of the Marxian notion of exploitation, the implications of their rejection of the labor theory of value, their differences over what rights people have, and their arguments for the compatibility of markets with socialism.
Author: Israel Mayer Kirzner Publisher: Ludwig von Mises Institute ISBN: 1610160290 Category : Languages : en Pages : 340
Book Description
Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.
Author: Israel M. Kirzner
Author: Israel M. Kirzner
Author: Israel M. Kirzner
Author: Robert Meister
Author: John Arthur
Author: Michael Novak
Author: Bruce J. Caldwell
Author: Israel M. Kirzner
Author: Julie Guthman
Author: David Gordon
Author: Israel Mayer Kirzner