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Author: Joseph E. Stiglitz Publisher: MIT Press ISBN: 0262691825 Category : Business & Economics Languages : en Pages : 353
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: Joseph E. Stiglitz Publisher: MIT Press ISBN: 0262691825 Category : Business & Economics Languages : en Pages : 353
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: Bernd Magnus Publisher: Routledge ISBN: 1134979169 Category : Philosophy Languages : en Pages : 252
Book Description
This is the companion volume to Spectres of Marx , and tackles the central theme of the fate of Marxism after the global collapse of communism.
Author: Gary Blank Publisher: John Hunt Publishing ISBN: 1780997566 Category : History Languages : en Pages : 125
Book Description
Does China represent a non-capitalist alternative to neoliberal development models? Commentators on the left have offered sharply divergent assessments over the last two decades. A few still cling the old dream of market socialism, twinning efficiency with social justice. For most, however, China is proof that market reforms invariably yield dispossession, inequality, and capitalist restoration. Is the East Still Red? argues that both interpretations are wrong and exhibit a common failure to distinguish between market mechanisms and capitalist imperatives. Gary Blank situates the Chinese experience within broader Marxist debates on socio-historical transitions and primitive accumulation, highlighting the need to conceptualize capitalism as a unique system in which producers and appropriators depend on the market for their reproduction. Despite years of marketization, the mandarins in Beijing have not yet imposed full market dependence in industry and agriculture. He shows how the resistance of workers and peasants, the imperatives of party-state legitimacy, and the reproductive strategies of individual Communist officials and managers all act to perpetuate central aspects of a bureaucratic-collectivist system, in which direct producers and bureaucrats are effectively merged with the means of production. The People’s Republic may be a non-capitalist market alternative, albeit one that is hardly edifying for socialists.
Author: C.M. Hann Publisher: Routledge ISBN: 1134504462 Category : History Languages : en Pages : 358
Book Description
Social scientist did not predict the collapse of the socialist system in 1989-91. Their attempts to explain postsocialism have not been comprehensive. This book examines why, for the first time from an anthropological standpoint.
Author: Joseph E. Stiglitz
Author: Joseph E. Stiglitz
Author: Joseph E. Stiglitz
Author: Leon Trotsky
Author: Bernd Magnus
Author: David Harvey
Author: Gary Blank
Author: Yves Guyot
Author: Leon Trotsky
Author: C.M. Hann
Author: Leon Trotsky