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Dollars and Change
In short, Putterman connects the field of economics with other important spheres of life, building bridges of understanding that are too often absent in the study of economics.".
The Economic Nature of the Firm
This book brings together classic writings on the economic nature and organization of firms, including works by Ronald Coase, Oliver Williamson, and Michael Jensen and William Meckling, as well as more recent contributions by Paul Milgrom, Bengt Holmstrom, John Roberts, Oliver Hart, Luigi Zingales, and others. Part I explores the general theme of the firm's nature and place in the market economy; Part II addresses the question of which transactions are integrated under a firm's roof and what limits the growth of firms; Part III examines employer-employee relations and the motivation of labor; and Part IV studies the firm's organization from the standpoint of financing and the relationship between owners and managers. The volume also includes a consolidated bibliography of sources cited by these authors and an introductory essay by the editors that surveys the new institutional economics of the firm and issues raised in the anthology.
Economics, Values, and Organization
A path-breaking analysis of the relationship between economic institutions and values.
Continuity and Change in China's Rural Development
A detailed study of rural reform in China, which comprehensively covers Chinese rural development before and after the Mao and Deng reform eras, focusing on the township of Dahe.
Peasants, Collectives, and Choice
Tests the voluntary collectivisation hypothesis by applying models of economic behaviour in collective agricultural enterprises to the understanding of the Tanzanian experience; analyses the problems met by Tanzania in its aim of self-transformation into a nation of collective villages.
Equal Shares
“Nice idea, but it doesn’t work in practice.” How often have socialists had this claim thrown back at them? And now, after the events of 1989, many of the Left are openly wondering what a defensible idea of socialism would be. This work addresses this question, taking as its point of departure John Roemer’s model of “coupon socialism”. Roemer’s model aims to combine the market with a commitment to equality through a simple, yet starkly radical, proposal: all citizens would receive an equal number of coupons with which to buy ownership rights (voting, dividends) in companies. These coupons would constitute a second, separate form of currency, but could not be exchanged for ordinary money, nor transferred to other people. Not all the contributors to this collection endorse Roemer’s working model of market socialism, but they are all stimulated by his foray into a “real utopia”.
Social dilemmas, institutions, and the evolution of cooperation
The question of how cooperation and social order can evolve from a Hobbesian state of nature of a “war of all against all” has always been at the core of social scientific inquiry. Social dilemmas are the main analytical paradigm used by social scientists to explain competition, cooperation, and conflict in human groups. The formal analysis of social dilemmas allows for identifying the conditions under which cooperation evolves or unravels. This knowledge informs the design of institutions that promote cooperative behavior. Yet to gain practical relevance in policymaking and institutional design, predictions derived from the analysis of social dilemmas must be put to an empirical test. T...
Political Booms
Why have Taiwan, rich parts of China, and Thailand boomed famously, while the Philippines has long remained stagnant both economically and politically? Do booms abet democracy? Does the rise of middle OC classesOCO promise future liberalization? Why has Philippine democracy brought no boom and barely served the Filipino people? This book, unlike most previous studies, shows that both the roots and results of growth are largely political rather than economic. Specifically, it pays attention to local, not just national, power networks that caused or prevented growth in the four places under consideration. Violence has been common in these polities, along with money. Elections have contributed ...
Equity, Efficiency, and Ethics in Remedies for Breach of Contract
This book analyzes the conflict that emerges between parties after a breach of contract and how different legal remedies can best reduce conflict. Causes for conflict include equity, efficiency, and ethical reasons that parties might consider and use to blame the other or to justify breach. In the end, if not resolved through apologies or renegotiation, conflict leads to aggrievement and behavioral reactions in form of retaliation by the victim against the promisor in breach. The book provides empirical evidence from laboratory experiments for how individuals react to perceived wrongful acts such as breach of contract and for the function of legal remedies to reduce retaliation by disappoint...
Worker Participation
Once they accept a job, most Americans have little control over their work environments. In Worker Participation, John Pencavel examines some of those rare workplaces where employees both own and manage the companies they work for: the plywood cooperatives and forest worker cooperatives of the Pacific Northwest. Rather than relying on abstract theories, Pencavel reviews the actual experiences of these two groups of worker co-ops. He focuses on how worker-owned companies perform when compared to more traditional firms and whether companies operate more efficiently when workers determine how they are run. He also looks at the long-term viability of these enterprises and why they are so unusual...
