Business & Economics Books:

Market and Non-Market Hierarchies

Theory of Institutional Failure

Format

Paperback / softback

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Market and Non-Market Hierarchies by Christos N. Pitelis
$140.99
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Description

This volume examines the questions of the existence, evolution and failure of the three major institutions of capitalism: the market, the firm (including the transnational corporation) and the state. Following critical appraisals of existing theoretical perspectives on these questions, namely neo-classical, Austrian, post-Keynesian and Marxist, the author adopts an evolutionary-historical approach aimed at deriving a synthesis where possible and breaking new ground when not. The book focuses on, and assesses mainstream micro- and macroeconomic theories of "failure" and Marxian theories of capitalist crisis. Christos Pitelis' analysis of markets, firms and states points to the possibility of a mainstream theory of capitalist institutional failure based on transaction cost economizing. This can be incorporated within a more general approach to institutional crisis which considers the relevant macroeconomic aspects, most notably realization failures.
Release date NZ
July 28th, 1993
Country of Publication
United Kingdom
Illustrations
notes, references, index
Imprint
Blackwell Publishers
Pages
256
Dimensions
155x228x21
ISBN-13
9780631190615
Product ID
3086637

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