MARC Record from marc_columbia

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001 15106521
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035 $a(OCoLC)ocn912319355
035 $a(NNC)15106521
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019 $a958109894$a1029482862$a1058672076$a1086450953$a1136481777
020 $a9781315745091$q(e-book)
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035 $a(OCoLC)912319355$z(OCoLC)958109894$z(OCoLC)1029482862$z(OCoLC)1058672076$z(OCoLC)1086450953$z(OCoLC)1136481777
050 4 $aHB171$b.F68 2014eb
082 04 $a330$223
084 $aBUS000000$aBUS039000$aBUS045000$2bisacsh
049 $aZCUA
100 1 $aFrank, Jeff,$eauthor.
245 14 $aThe responsible economy /$cJefferson Frank.
264 1 $aLondon [England] ;$aNew York, New York :$bRoutledge,$c2014.
264 4 $c©2014
300 $a1 online resource (223 pages) :$billustrations, tables
336 $atext$btxt$2rdacontent
337 $acomputer$bc$2rdamedia
338 $aonline resource$bcr$2rdacarrier
490 1 $aRoutledge Frontiers of Political Economy ;$v191
504 $aIncludes bibliographical references at the end of each chapters and index.
588 0 $aPrint version record.
505 0 $a1. In praise of common sense -- 2. The limits to markets -- 3. Ecstasy economics -- 4. The role of managers -- 5. Ethics, incentives and affordability -- 6. Justice -- 7. Globalisation -- 8. Labour market flexibility -- 9. On booms and busts -- 10. What is to be done?
520 $a"After the 'financial crisis' and 'Great Recession', some have called for replacing standard economic theory by heterodox models based upon behavioural approaches. The Responsible Economy argues that there is nothing wrong with economic theory. Instead, the problem has been a 'devil's pact' of simplistic pro-market economics combined with simplistic Keynesian monetary policy. This book revisits the fundamental theorems in economics that state the conditions for markets to achieve efficiency. It has long been known that there are limitations of markets in dealing with externalities, increasing returns to scale and monopoly. The role of information in the economy was developed in economic theory in the 1970s onwards and in a world of imperfect and asymmetric information, markets perform poorly. Managers of firms engage in short-termism, take on excessive risk and misstate their own and their firm's performance. While finance theory makes clear that much of the activity in the financial services sector is of no economic value and represents wasteful 'financial engineering'. In this real world, it is economically inefficient for firms to maximise shareholder value. On the macroeconomics side, monetary expansion cannot be an effective substitute for addressing real problems of infrastructure and education investment. This book maintains that markets work best if individuals and firms behave ethically and responsibly. Employment should be a long-term relationship; firms should pay living wages, produce good products at a fair price, and pay their share of taxes. Where these standards don't hold, governments should not try to micromanage through regulation, but set up simple and straightforward policies"--$cProvided by publisher
650 0 $aEconomics.
650 0 $aEconomics$xSociological aspects.
650 2 $aEconomics
650 6 $aÉconomie politique.
650 7 $aeconomics.$2aat
650 7 $aEconomics.$2fast$0(OCoLC)fst00902116
650 7 $aEconomics$xSociological aspects.$2fast$0(OCoLC)fst00902213
776 08 $iPrint version:$aFrank, Jeff.$tResponsible economy.$dLondon, [England] ; New York, New York : Routledge, ©2014$hxxii, 200 pages$kRoutledge frontiers of political economy ; 191$z9780415598477
830 0 $aRoutledge frontiers of political economy ;$v191.
856 40 $uhttp://www.columbia.edu/cgi-bin/cul/resolve?clio15106521$zTaylor & Francis eBooks
852 8 $blweb$hEBOOKS