Markets and Power: The 21st Century Command Economy

Front Cover
M.E. Sharpe, Mar 28, 2001 - Business & Economics
0 Reviews
In what ways do the actions and economic behavior of today's multinational corporations resemble the functioning and processes of the old command economics of the Soviet Union? By ignoring questions about power relations in markets, mainstream neoclassically-oriented economists conclude that there are no significant power structures operating in market systems to control allocation and distribution. This book argues to the contrary that there are fundamental and systemic power structures - monopoly, access to information or finance, employer power, etc. - at work in market economies, which affects their ability to achieve real "competition" in much the same way as state-controlled, command economies hinder business activities. Thus, for example, the biggest firms at the hubs of financial "networks" wield a kind of "shaping power" upon large numbers of relatively autonomous firms, not only upon those that belong to the networks but also on the many firms outside them that are also affected.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Introduction
3
Economics and Power
4
Market Systems and Market Systems
10
Capitalism Today
12
Power and Practice
16
Power and Economics
22
Power Exploitation and Alienation
28
Power in Complex Social Relationships
31
The Costs of Job Loss
110
Unemployment
115
Employers Power on the Rise
120
A Strike
123
Purchasing Power
131
The Perfect Equality Model
132
The Real World of Inequality
135
Economic Inequality and Power
139

Power and Democracy
33
Parents Power
36
Power and Market Imperfection
41
Business Power I Monopoly
51
Monopoly Power in the Real World
58
A Tendency Toward Greater Concentration?
66
The Media
68
Business Power II Networks and Finance
75
Formal vs Informal Integration
77
The Power of Financial Institutions
81
Networks and Planners Power
85
Planners Power and Local Development
90
The Corporation and Social Power
93
Employer Power
98
Command and the Firm
99
The Association of Equals
102
Employers and Employees Powers
106
The State
143
Value Power and Corporate Power
146
Increasing Economic Inequality
150
Conclusion
159
Power and the Capitalist Market Economy
160
Power Freedom and Economics
163
Power and Progressive Social Change
167
Politics
169
Progressive Change in Business
173
Progress for Working People
178
Changing Income and Wealth Inequality
182
Utopianism?
187
Bibliography
191
Index
201
About the Author
209
Copyright

Other editions - View all

Common terms and phrases

References to this book

All Book Search results »

Bibliographic information