Markets, Competition, and the Economy as a Social System, 1st Edition

  • Published By:
  • ISBN-10: 1118691571
  • ISBN-13: 9781118691571
  • DDC: 330
  • Grade Level Range: College Freshman - College Senior
  • 620 Pages | eBook
  • Original Copyright 2013 | Published/Released June 2014
  • This publication's content originally published in print form: 2013

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This book is an examination of markets, competition, and market governance from acritical, heterodox perspective.  Itstarts with four articles that deal with modelling the economy as a socialsystem.  Since the economy is also asocial system of production, markets and the exchange and competitiveactivities within them are also social activities.  This conceptualization of markets as socialinstitutions fits well with various heterodox approaches to markets, which arethe themes of the next five articles. One implication of these articles is that markets must be carefullycrafted and competition suitably regulated so that they can be a safe home forgoing enterprises.  The final article inthe book goes back to the issue of modelling the economy and argues thatmainstream macroeconomics modelling of the economy is incoherent and thusshould be replaced.  The implication ofthis book is that it should be replaced with a heterodox model of the economyas a social system.

Table of Contents

Front Cover.
1: Economy as a Social System: Niklas Luhmann's Contribution and Its Significance for Economics.
2: Social Network Analysis and the Sociology of Economics: Filling a Blind Spot with the Idea of Social Embeddedness.
3: Schmoller's Method as a Critique and Alternative to Marginalist Economics: A Comment to Louzek.
4: The Economic Deterioration of the Family: Historical Contingencies Preceding the Great Recession.
5: The Market Concept: A Characterization from Institutional and Post-Keynesian Economics.
6: The Organization, Operation, and Outcomes of Actually Existing Markets: A Suggested Approach for Empirical Analysis.
7: Three Modes of Competition in the Marketplace.
8: Saving Private Business Enterprises: A Heterodox Microeconomic Approach to Market Governance and Market Regulation.
9: Market Cycles: Bicycles, Riders, Industries, and Environments in France and the United States, 1865–1914.
10: No End to the Consensus in Macroeconomic Theory? A Methodological Inquiry.