The Responsible Economy

The Responsible Economy
Author :
Publisher : Routledge
Total Pages : 223
Release :
ISBN-10 : 9781317594154
ISBN-13 : 1317594150
Rating : 4/5 (54 Downloads)

Book Synopsis The Responsible Economy by : Jefferson Frank

Download or read book The Responsible Economy written by Jefferson Frank and published by Routledge. This book was released on 2015-05-08 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.


The Responsible Economy Related Books

The Responsible Economy
Language: en
Pages: 223
Authors: Jefferson Frank
Categories: Business & Economics
Type: BOOK - Published: 2015-05-08 - Publisher: Routledge

DOWNLOAD EBOOK

After the ‘financial crisis’ and ‘Great Recession’, some have called for replacing standard economic theory by heterodox models based upon behavioural a
The Responsible Economy
Language: en
Pages: 29
Authors: Bob Massie
Categories: Business & Economics
Type: BOOK - Published: 2014-01-18 - Publisher: Patagonia

DOWNLOAD EBOOK

We at Patagonia, like all business people, know that long-term income has to exceed long-term expense. To do otherwise is to go bankrupt, as Ernest Hemingway de
Enough Is Enough
Language: en
Pages: 248
Authors: Rob Dietz
Categories: Business & Economics
Type: BOOK - Published: 2013 - Publisher: Routledge

DOWNLOAD EBOOK

This powerful book sets out arguments and an agenda of policy proposals for achieving a sustainable and prosperous, but non-growing economy, also known as a ste
The Responsible Corporation in a Global Economy
Language: en
Pages: 312
Authors: Colin Crouch
Categories: Business & Economics
Type: BOOK - Published: 2011-10-27 - Publisher: Oxford University Press

DOWNLOAD EBOOK

The book examines the issue of corporate social responsibility from a public policy perspective, considering the implications of corporations' involvement in gl
Prosperity without Growth
Language: en
Pages: 288
Authors: Tim Jackson
Categories: Business & Economics
Type: BOOK - Published: 2016-12-08 - Publisher: Routledge

DOWNLOAD EBOOK

What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainabili