The Inner Lives Of Markets


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What is a market? To most people it is a shopping center or an abstract space in which stock prices vary minutely. In reality, a market is something much more fundamental to being human, and it affects not just the price of tomatoes but the boundaries of everything we value. Reading the newspapers these days, you could be forgiven for thinking that markets are getting ever more efficient—and better. But as Tim Sullivan and Ray Fisman argue in this insightful book, that view is far from complete. For one thing, efficiency isn't always a good thing—illegal markets are very often more efficient than legal ones, because they are free of concern for laws and human rights. But even more importantly, the chatter about efficiency has obscured a much broader conversation about what kind of economic exchange we actually want. Every regulation, every sticker price, and every sale is part of an ever-changing ecosystem—one that affects us as much as we affect it. By tracing 50 years of economic thought on this subject, Fisman and Sullivan show how markets have evolved—and how we can keep making them better. This leads to fascinating and surprising insights, such as: Why your $10,000 used car is likely to sell for $2,000 or less; Why you should think twice before buying batteries on Amazon; and Why it's essential that healthy people buy medical insurance. In the end, The Inner Lives of Markets argues for a new way of thinking about how you spend your money—it shows that every transaction you make is part of a grand social experiment. We are all guinea pigs running through a lab maze, and the sooner we realize it, the more effectively we can navigate the path we want.

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Author by Ray Fisman
Genre eBook Business & Economics
Read Book 224
ISBN Number 9781610394932

Marketology How Economic Theory Has Transformed Our World Mostly For The Better


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What is a market? To most people it is a shopping center or an abstract space in which stock prices vary minutely. In reality, a market is something much more fundamental to being human, and it affects not just the price of tomatoes but the boundaries of everything we value. Reading the newspapers these days, you could be forgiven for thinking that markets are getting ever more efficient--and better. But as Tim Sullivan and Ray Fisman argue in this insightful book, that view is far from complete. For one thing, efficiency isn't always a good thing--illegal markets are very often more efficient than legal ones, because they are free of concern for laws and human rights. But even more importantly, the chatter about efficiency has obscured a much broader conversation about what kind of economic exchange we actually want. Every regulation, every sticker price, and every sale is part of an ever-changing ecosystem--one that affects us as much as we affect it. By tracing 50 years of economic thought on this subject, Fisman and Sullivan show how markets have evolved--and how we can keep making them better. This leads to fascinating and surprising insights, such as: Why your $10,000 used car is likely to sell for $2,000 or less; Why you should think twice before buying batteries on Amazon; and Why it's essential that healthy people buy medical insurance. In the end, The Inner Lives of Markets argues for a new way of thinking about how you spend your money--it shows that every transaction you make is part of a grand social experiment. We are all guinea pigs running through a lab maze, and the sooner we realize it, the more effectively we can navigate the path we want.

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Author by Ray Fisman
Genre eBook Consumer behavior
Read Book 224
ISBN Number 1444788604

Do Markets Corrupt Our Morals


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The most damning criticism of markets is that they are morally corrupting. As we increasingly engage in market activity, the more likely we are to become selfish, corrupt, rapacious and debased. Even Adam Smith, who famously celebrated markets, believed that there were moral costs associated with life in market societies. This book explores whether or not engaging in market activities is morally corrupting. Storr and Choi demonstrate that people in market societies are wealthier, healthier, happier and better connected than those in societies where markets are more restricted. More provocatively, they explain that successful markets require and produce virtuous participants. Markets serve as moral spaces that both rely on and reward their participants for being virtuous. Rather than harming individuals morally, the market is an arena where individuals are encouraged to be their best moral selves. Do Markets Corrupt Our Morals? invites us to reassess the claim that markets corrupt our morals.

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Author by Virgil Henry Storr
Genre eBook Business & Economics
Read Book 281
ISBN Number 9783030184162

Business Ethics


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The future of the free market depends on fair, honest business practices. Business Ethics: Contemporary Issues and Cases aims to deepen students’ knowledge of ethical principles, corporate social responsibility, and decision-making in all aspects of business. The text presents an innovative approach to ethical reasoning grounded in moral philosophy. Focusing on corporate purpose—creating economic value, complying with laws and regulations, and observing ethical standards—a decision-making framework is presented based upon Duties-Rights-Justice. Over 40 real-world case studies allow students to grapple with a wide range of moral issues related to personal integrity, corporate values, and global capitalism. Richard A. Spinello delves into the most pressing issues confronting businesses today including sexual harassment in the workplace, cybersecurity, privacy, and environmental justice.

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Author by Richard A. Spinello
Genre eBook Business & Economics
Read Book 520
ISBN Number 9781506368061

Corruption


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Corruption regularly makes front page headlines: public officials embezzling government monies, selling public offices, and trading bribes for favors to private companies generate public indignation and calls for reform. In Corruption: What Everyone Needs to Know®, renowned scholars Ray Fisman and Miriam A. Golden provide a deeper understanding of why corruption is so damaging politically, socially, and economically. Among the key questions examined are: is corruption the result of perverse economic incentives? Does it stem from differences in culture and tolerance for illicit acts of government officials? Why don't voters throw corrupt politicians out of office? Vivid examples from a wide range of countries and situations shed light on the causes of corruption, and how it can be combated.

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Author by Ray Fisman
Genre eBook Political Science
Read Book 256
ISBN Number 9780190463991

Mind In Animals


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Author by Ludwig Büchner
Genre eBook Animal intelligence
Read Book 359
ISBN Number UOM:39015005169357

Cultural Economics


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This book provides an always fascinating exploration of culture race, gender and identity in the marketplace, providing a structured conversation about some of the most difficult issues of the economic valuation of culture and indeed the very meaning of cultural subordination. We consider four central questions: Can economic behavior be understood without an attentive account of the cultural context in which economic transactions occur? We criticize the failure of neoclassical economics to integrate explicitly the cultural variables of ordinary life into the models of economic measurement and the assumptions of economic reasoning. We argue that these "thin" models are devoid of the important differences of culture, language, and identity. We identify instead a more complex set of ideas that incorporate culture and its tension with commerce. What is the impact of racial dominance on the ownership and control of cultural property? Do the financial arrangements in the entertainment industry determine whether racial and cultural minorities will ever achieve self-sufficiency? We are fascinated by the artists whose labor as musicians, painters, singers, songwriters and actors enrich our daily lives. Yet, these cultural stars often live lives of economic desperation after their turn in the spotlight has ended. What is the effect of royalty payment systems is and of corporate structures that frequently under compensate, and even cheat these aging stars of the current revenue generated by the contributions they made in their youth? Lastly, attention is given to the dynamics of the market valuation of the human capital components of language, hairstyle, sexual difference, and culturally significant garb. Does control of these modes of expressive autonomy depress the wages and opportunities for advancement of workers who do not choose to assimilate with the dominant culture? More important, are cultural styles associated with subordinated groups so devalued by the majority that non-assimilationists must pay an economic penalty for their personal preference to seek harmony between their inner lives and their outer appearance.

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Author by Emma Coleman Jordan
Genre eBook Business & Economics
Read Book 371
ISBN Number STANFORD:36105114570778

Reimagining Capitalism In A World On Fire


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A renowned Harvard professor debunks prevailing orthodoxy with a new intellectual foundation and a practical pathway forward for a system that has lost its moral and ethical foundation in this "powerful" book (Daron Acemoglu). Free market capitalism is one of humanity's greatest inventions and the greatest source of prosperity the world has ever seen. But this success has been costly. Capitalism is on the verge of destroying the planet and destabilizing society as wealth rushes to the top. The time for action is running short. Rebecca Henderson's rigorous research in economics, psychology, and organizational behavior, as well as her many years of work with companies around the world, gives us a path forward. She debunks the worldview that the only purpose of business is to make money and maximize shareholder value. She shows that we have failed to reimagine capitalism so that it is not only an engine of prosperity but also a system that is in harmony with environmental realities, striving for social justice and the demands of truly democratic institutions. Henderson's deep understanding of how change takes place, combined with fascinating in-depth stories of companies that have made the first steps towards reimagining capitalism, provides inspiring insight into what capitalism can be. With rich discussions of how the worlds of finance, governance, and leadership must also evolve, Henderson provides the pragmatic foundation for navigating a world faced with unprecedented challenge, but also with extraordinary opportunity for those who can get it right.

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Author by Rebecca Henderson
Genre eBook Business & Economics
Read Book 336
ISBN Number 9781541730137

Grand Pursuit


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Traces how the works of Charles Dickens and Henry Mayhew reflected the poor majority in mid-nineteenth-century London, citing the achievements of such influential figures as John Maynard Keyes, Paul Samuelson, and Amartya Sen.

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Author by Sylvia Nasar
Genre eBook Biography & Autobiography
Read Book 558
ISBN Number 9780684872995

Old Times A Picture Of Social Life At The End Of The 18th Century Collected And Illustr From The Satirical And Other Sketches Of The Day By J Ashton


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Author by Old times
Genre eBook
Read Book
ISBN Number OXFORD:590733410