Luis Correia Da Silva, Marc Goergen, and Luc Renneboog
- Published in print:
- 2004
- Published Online:
- April 2004
- ISBN:
- 9780199259304
- eISBN:
- 9780191600852
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199259305.003.0004
- Subject:
- Economics and Finance, Financial Economics
Discusses the research questions that will be addressed in the next chapters. The research questions relate to the link between dividend levels and corporate control, and dividend flexibility and ...
More
Discusses the research questions that will be addressed in the next chapters. The research questions relate to the link between dividend levels and corporate control, and dividend flexibility and corporate control.Less
Discusses the research questions that will be addressed in the next chapters. The research questions relate to the link between dividend levels and corporate control, and dividend flexibility and corporate control.
N. Scott Arnold
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780195088274
- eISBN:
- 9780199853014
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195088274.003.0004
- Subject:
- Philosophy, Political Philosophy
The market socialist system is differentiated from the free enterprise system by the types of organizations that are allowed to operate in their respective economies. While the free enterprise system ...
More
The market socialist system is differentiated from the free enterprise system by the types of organizations that are allowed to operate in their respective economies. While the free enterprise system allows a variety of organizational forms, in a market socialist system, there are mostly worker-managed cooperatives and sometimes for specific reasons, firms wholly owned by the state and privately owned enterprises. Organizational types vary in their interrelationship with factors such as laborers, capital providers, input suppliers, monitors, central contracting agents, director of the firm's output, residual claimants, and ultimate decision-makers. This chapter also points out what differentiates a traditional capitalist firm from an open corporation and from a worker cooperative. In the discussions, this chapter goes back to the concept of exploitation in the context of the organization. An explanation for the phenomenon is sought from the ideas of bounded rationality and opportunism.Less
The market socialist system is differentiated from the free enterprise system by the types of organizations that are allowed to operate in their respective economies. While the free enterprise system allows a variety of organizational forms, in a market socialist system, there are mostly worker-managed cooperatives and sometimes for specific reasons, firms wholly owned by the state and privately owned enterprises. Organizational types vary in their interrelationship with factors such as laborers, capital providers, input suppliers, monitors, central contracting agents, director of the firm's output, residual claimants, and ultimate decision-makers. This chapter also points out what differentiates a traditional capitalist firm from an open corporation and from a worker cooperative. In the discussions, this chapter goes back to the concept of exploitation in the context of the organization. An explanation for the phenomenon is sought from the ideas of bounded rationality and opportunism.
Luis Correia Da Silva, Marc Goergen, and Luc Renneboog
- Published in print:
- 2004
- Published Online:
- April 2004
- ISBN:
- 9780199259304
- eISBN:
- 9780191600852
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199259305.003.0002
- Subject:
- Economics and Finance, Financial Economics
Reviews the different systems of corporate governance and corporate control around the world. Legal devices that separate ownership from control are discussed. The main corporate governance ...
More
Reviews the different systems of corporate governance and corporate control around the world. Legal devices that separate ownership from control are discussed. The main corporate governance mechanisms that may act as an alternative to dividend policy are also examined.Less
Reviews the different systems of corporate governance and corporate control around the world. Legal devices that separate ownership from control are discussed. The main corporate governance mechanisms that may act as an alternative to dividend policy are also examined.
Hugh Lauder and Yadollah Mehralizadeh
- Published in print:
- 2001
- Published Online:
- October 2011
- ISBN:
- 9780199244188
- eISBN:
- 9780191697340
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199244188.003.0004
- Subject:
- Business and Management, HRM / IR, Political Economy
One of the major claims made for the current development of the global economy in relation to the production of goods and services is that multinationals are a conduit for the transfer of technology ...
More
One of the major claims made for the current development of the global economy in relation to the production of goods and services is that multinationals are a conduit for the transfer of technology and with it, skills. This chapter looks at the competing hypotheses regarding the impact of globalization on the different types of education and training (ET) and labour market systems in Germany, Korea, Singapore, and Britain. This also involves looking at skill transfer and the development policies of multinationals. The final section of the chapter reports on the impact of multinational ownership on ‘key’ skills training and application in one major British subsidiary of a foreign multinational. It is argued that key or core skills — those relating to teamwork, communication, problem solving, and the use of IT — and which are required for high-performance workplaces, provide a litmus test of the convergence thesis. If the impact of globalization is that these skills are transferable across national borders, then the convergence thesis will have passed a particularly stringent test.Less
One of the major claims made for the current development of the global economy in relation to the production of goods and services is that multinationals are a conduit for the transfer of technology and with it, skills. This chapter looks at the competing hypotheses regarding the impact of globalization on the different types of education and training (ET) and labour market systems in Germany, Korea, Singapore, and Britain. This also involves looking at skill transfer and the development policies of multinationals. The final section of the chapter reports on the impact of multinational ownership on ‘key’ skills training and application in one major British subsidiary of a foreign multinational. It is argued that key or core skills — those relating to teamwork, communication, problem solving, and the use of IT — and which are required for high-performance workplaces, provide a litmus test of the convergence thesis. If the impact of globalization is that these skills are transferable across national borders, then the convergence thesis will have passed a particularly stringent test.
Mark Freedland, Paul Craig, Catherine Jacqueson, and Nicola Kountouris
- Published in print:
- 2007
- Published Online:
- January 2009
- ISBN:
- 9780199233489
- eISBN:
- 9780191716324
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199233489.003.0005
- Subject:
- Law, EU Law, Employment Law
This chapter provides a historical and comparative examination of employment services in the light of their ‘public service’ nature and vocation as developed through the 20th century. It also ...
More
This chapter provides a historical and comparative examination of employment services in the light of their ‘public service’ nature and vocation as developed through the 20th century. It also provides a reasoned taxonomy of the various activities and functions performed by public employment services in Europe, and in particular of job-intermediation, unemployment benefit management, skills formation, the provision of active labour market policies, and the management of ‘making work pay’ initiatives. This is followed by an analysis of the various modes by which PES have been providing their services, ranging from public monopoly arrangements to public-private coexistence systems, to market and quasi-market systems. It is argued that in recent years, and particularly with the demise of monopolistic regimes, the role of private employment services as providers of employment services has been bolstered just as the relevance of PES has progressively faced a decline and reconfiguration.Less
This chapter provides a historical and comparative examination of employment services in the light of their ‘public service’ nature and vocation as developed through the 20th century. It also provides a reasoned taxonomy of the various activities and functions performed by public employment services in Europe, and in particular of job-intermediation, unemployment benefit management, skills formation, the provision of active labour market policies, and the management of ‘making work pay’ initiatives. This is followed by an analysis of the various modes by which PES have been providing their services, ranging from public monopoly arrangements to public-private coexistence systems, to market and quasi-market systems. It is argued that in recent years, and particularly with the demise of monopolistic regimes, the role of private employment services as providers of employment services has been bolstered just as the relevance of PES has progressively faced a decline and reconfiguration.
Xiaoke Zhang
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780199643097
- eISBN:
- 9780191741944
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199643097.003.0011
- Subject:
- Business and Management, Political Economy, International Business
This chapter provides a political economy account of macrostructural varieties of changing financial capitalism in Korea and Taiwan. The past two decades have witnessed the expansion of capital ...
More
This chapter provides a political economy account of macrostructural varieties of changing financial capitalism in Korea and Taiwan. The past two decades have witnessed the expansion of capital markets and the market-oriented transformation of traditionally bank-based financial systems in the two economies. Despite this seemingly convergent trajectory of financial market changes, Korea and Taiwan have displayed striking differences in the size and activity of capital markets, the relative importance of banks versus non-bank financial institutions, and the market orientation of national finance. This chapter posits that fundamental changes and variations in the financial market structure of Korea and Taiwan have been predicated on the emergence and configuration of the dominant coalitions. In Korea and Taiwan, the dominant coalitions that have born crucially on regulatory rules and market practices have differed in the policy preferences of key actors and the political strength of these actors. These differences exerted divergent shaping influences on the relative importance of capital markets, banks, and non-bank financial institutions.Less
This chapter provides a political economy account of macrostructural varieties of changing financial capitalism in Korea and Taiwan. The past two decades have witnessed the expansion of capital markets and the market-oriented transformation of traditionally bank-based financial systems in the two economies. Despite this seemingly convergent trajectory of financial market changes, Korea and Taiwan have displayed striking differences in the size and activity of capital markets, the relative importance of banks versus non-bank financial institutions, and the market orientation of national finance. This chapter posits that fundamental changes and variations in the financial market structure of Korea and Taiwan have been predicated on the emergence and configuration of the dominant coalitions. In Korea and Taiwan, the dominant coalitions that have born crucially on regulatory rules and market practices have differed in the policy preferences of key actors and the political strength of these actors. These differences exerted divergent shaping influences on the relative importance of capital markets, banks, and non-bank financial institutions.
Gergely Baics
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691168791
- eISBN:
- 9781400883622
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691168791.003.0001
- Subject:
- History, American History: 19th Century
This chapter provides a new account of the political economy of the public market system of provisioning, exploring how the common good of citizens' access to food was forged out of the conflicting ...
More
This chapter provides a new account of the political economy of the public market system of provisioning, exploring how the common good of citizens' access to food was forged out of the conflicting and converging interests, rights, and responsibilities of the three constituent parties involved: residents, market vendors, and city officials. It then discusses the process of market deregulation, exploring how and why citizens' access to food was gradually pushed from the public to the private domain through the expansion of informal retail from the 1830s, followed by the market laws' repeal in 1843. Further, it details the shifting ground of public and private goods, outlining the fiscal connections between the liberalization of New York's formerly tightly regulated food economy and the city's huge investments in the Croton Waterworks.Less
This chapter provides a new account of the political economy of the public market system of provisioning, exploring how the common good of citizens' access to food was forged out of the conflicting and converging interests, rights, and responsibilities of the three constituent parties involved: residents, market vendors, and city officials. It then discusses the process of market deregulation, exploring how and why citizens' access to food was gradually pushed from the public to the private domain through the expansion of informal retail from the 1830s, followed by the market laws' repeal in 1843. Further, it details the shifting ground of public and private goods, outlining the fiscal connections between the liberalization of New York's formerly tightly regulated food economy and the city's huge investments in the Croton Waterworks.
Luis Correia Da Silva, Marc Goergen, and Luc Renneboog
- Published in print:
- 2004
- Published Online:
- April 2004
- ISBN:
- 9780199259304
- eISBN:
- 9780191600852
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199259305.003.0003
- Subject:
- Economics and Finance, Financial Economics
Concentrates on dividend policy as a signalling device and, in particular, as an alternative corporate governance device. We argue that firms with a high concentration of control are less likely to ...
More
Concentrates on dividend policy as a signalling device and, in particular, as an alternative corporate governance device. We argue that firms with a high concentration of control are less likely to use dividends as a signal of their future prospects. Similarly, firms with a large monitoring shareholder rely less on dividend policy to keep checks on the management. The impact of banks and taxation on dividend policy is also analysed.Less
Concentrates on dividend policy as a signalling device and, in particular, as an alternative corporate governance device. We argue that firms with a high concentration of control are less likely to use dividends as a signal of their future prospects. Similarly, firms with a large monitoring shareholder rely less on dividend policy to keep checks on the management. The impact of banks and taxation on dividend policy is also analysed.
Madeleine Yue Dong
- Published in print:
- 2003
- Published Online:
- March 2012
- ISBN:
- 9780520230507
- eISBN:
- 9780520927636
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520230507.003.0006
- Subject:
- History, Asian History
This chapter examines Republican Beijing's new market system and patterns of consumption. It explains that three types of goods, excluding food, circulated through Beijing's markets: industrial ...
More
This chapter examines Republican Beijing's new market system and patterns of consumption. It explains that three types of goods, excluding food, circulated through Beijing's markets: industrial products, handicraft items from Chinese cities and the countryside, and recycled articles. Despite some overlaps, markets and shops tended to specialize in only one of these types of goods, and their customers tended to be limited to fairly distinct social groups. The chapter argues that while most forms of trading tended to divide the consuming population along class, status, or gender lines, the aspect of Beijing's business world that most often united them was recycling, which involved items ranging from extremely expensive antiques to strips of rag.Less
This chapter examines Republican Beijing's new market system and patterns of consumption. It explains that three types of goods, excluding food, circulated through Beijing's markets: industrial products, handicraft items from Chinese cities and the countryside, and recycled articles. Despite some overlaps, markets and shops tended to specialize in only one of these types of goods, and their customers tended to be limited to fairly distinct social groups. The chapter argues that while most forms of trading tended to divide the consuming population along class, status, or gender lines, the aspect of Beijing's business world that most often united them was recycling, which involved items ranging from extremely expensive antiques to strips of rag.
Grzegorz W. Kolodko
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198297437
- eISBN:
- 9780191685354
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198297437.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Policies referring to the transition from government intervention to a free market system and from stabilisation to sustained growth can never come into being without the help of adequate state ...
More
Policies referring to the transition from government intervention to a free market system and from stabilisation to sustained growth can never come into being without the help of adequate state involvement. Although markets have the natural capacity to move toward equilibrium, some imperfections and crisis tend to be unmanageable. Due to this, the importance of government interference is reviewed in this chapter, including its equity, growth potential, and capacity. However, there are two concerns that must be addressed about the government's further engagement in the economy. First, the chapter looks at the dependable approach to maintain long-term development with the occurrence of trivial external shocks. And second, if crisis happen due to externalities, then an automatic mechanism that brings distortions into their normal set-ups must be employed.Less
Policies referring to the transition from government intervention to a free market system and from stabilisation to sustained growth can never come into being without the help of adequate state involvement. Although markets have the natural capacity to move toward equilibrium, some imperfections and crisis tend to be unmanageable. Due to this, the importance of government interference is reviewed in this chapter, including its equity, growth potential, and capacity. However, there are two concerns that must be addressed about the government's further engagement in the economy. First, the chapter looks at the dependable approach to maintain long-term development with the occurrence of trivial external shocks. And second, if crisis happen due to externalities, then an automatic mechanism that brings distortions into their normal set-ups must be employed.
Gergely Baics
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691168791
- eISBN:
- 9781400883622
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691168791.003.0002
- Subject:
- History, American History: 19th Century
Chapter 1 argued that that the justification for the municipal market system was to sustain the public good of citizens' access to food. This chapter focuses on the extent to which the corresponding ...
More
Chapter 1 argued that that the justification for the municipal market system was to sustain the public good of citizens' access to food. This chapter focuses on the extent to which the corresponding market infrastructure succeeded in fulfilling this political mandate. The analysis therefore shifts the discussion from the realm of political economy to evaluating the public markets' performance on the ground. In evaluating the public market system, the chapter pursues supply side and spatial analyses. Did New Yorkers gain access to adequate quantities of food supplies? Were all neighborhoods well provisioned, or were some areas unfairly burdened by too taxing a distance? And did the model muster effective means to sustain food quality? At the center of the inquiry is the geographic mandate of the public market system, which determined its success in meeting socially agreed-upon and politically mediated provisioning standards.Less
Chapter 1 argued that that the justification for the municipal market system was to sustain the public good of citizens' access to food. This chapter focuses on the extent to which the corresponding market infrastructure succeeded in fulfilling this political mandate. The analysis therefore shifts the discussion from the realm of political economy to evaluating the public markets' performance on the ground. In evaluating the public market system, the chapter pursues supply side and spatial analyses. Did New Yorkers gain access to adequate quantities of food supplies? Were all neighborhoods well provisioned, or were some areas unfairly burdened by too taxing a distance? And did the model muster effective means to sustain food quality? At the center of the inquiry is the geographic mandate of the public market system, which determined its success in meeting socially agreed-upon and politically mediated provisioning standards.
Samuel DeCanio
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9780300198782
- eISBN:
- 9780300216318
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300198782.003.0002
- Subject:
- Law, Constitutional and Administrative Law
This chapter discusses the historical transformation of the modern regulatory state and suggests that the expansion of bureaucratic authority is an institutional innovation rather than a result of ...
More
This chapter discusses the historical transformation of the modern regulatory state and suggests that the expansion of bureaucratic authority is an institutional innovation rather than a result of changes in the American economy. It examines three novel characteristics that distinguish the postbellum state from prior forms of American government. First, the level of government was altered, and new forms of authority were placed in the hands of federal officials. Second, there was a shift in power from legislatures and courts to executive bureaucrats and independent commissions. Third, the federal state pursued regulatory objectives that increasingly focused on the market price system. The chapter considers this institutional shift within the context of party ideologies before the Civil War, with particular emphasis on the political parties' positions on issues ranging from federal power to the role of respective branches of government, along with the types of government action they endorsed.Less
This chapter discusses the historical transformation of the modern regulatory state and suggests that the expansion of bureaucratic authority is an institutional innovation rather than a result of changes in the American economy. It examines three novel characteristics that distinguish the postbellum state from prior forms of American government. First, the level of government was altered, and new forms of authority were placed in the hands of federal officials. Second, there was a shift in power from legislatures and courts to executive bureaucrats and independent commissions. Third, the federal state pursued regulatory objectives that increasingly focused on the market price system. The chapter considers this institutional shift within the context of party ideologies before the Civil War, with particular emphasis on the political parties' positions on issues ranging from federal power to the role of respective branches of government, along with the types of government action they endorsed.
Onnig H. Dombalagian
- Published in print:
- 2015
- Published Online:
- September 2015
- ISBN:
- 9780262028622
- eISBN:
- 9780262324298
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262028622.003.0004
- Subject:
- Economics and Finance, Financial Economics
This chapter describes the regulation of market information. It begins with an overview of the market data that exchanges and other market centers publish, including transaction reports and last-sale ...
More
This chapter describes the regulation of market information. It begins with an overview of the market data that exchanges and other market centers publish, including transaction reports and last-sale data, quotations, and limit orders. It also discusses differences in the information published by various types of market center–e.g., order-driven, quote-driven, and hybrid trading systems, market makers, and dark pools. It then considers various policy arguments for regulation, including competition among market centers, the fragmentation and internalization of order flow, and the risk of adverse selection and market impact. The chapter ends with a discussion of the US and EU regulatory framework that governs the dissemination of market information with respect to equity securities (such as the US National Market System), debt securities, exchange-traded derivatives, and in the wake of the recent financial crisis, swaps and over-the-counter derivatives.Less
This chapter describes the regulation of market information. It begins with an overview of the market data that exchanges and other market centers publish, including transaction reports and last-sale data, quotations, and limit orders. It also discusses differences in the information published by various types of market center–e.g., order-driven, quote-driven, and hybrid trading systems, market makers, and dark pools. It then considers various policy arguments for regulation, including competition among market centers, the fragmentation and internalization of order flow, and the risk of adverse selection and market impact. The chapter ends with a discussion of the US and EU regulatory framework that governs the dissemination of market information with respect to equity securities (such as the US National Market System), debt securities, exchange-traded derivatives, and in the wake of the recent financial crisis, swaps and over-the-counter derivatives.
Daniel Ritschel
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198206477
- eISBN:
- 9780191677151
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206477.003.0004
- Subject:
- History, British and Irish Modern History, Economic History
This chapter discusses socialist planning that satisfied two urgent ideological needs within the post-1931 Labour party. It states that planning served as an attractive socialist alternative to the ...
More
This chapter discusses socialist planning that satisfied two urgent ideological needs within the post-1931 Labour party. It states that planning served as an attractive socialist alternative to the discredited capitalist market system. It notes that the traditional Labour demand for ‘fundamental reconstruction’ acquired a new sense of urgency in the 1930s, as the world economic collapse and the prolonged slump at home powerfully amplified the socialist critique of the market economy. It further explains that the idea of ‘planned economy’ served as a powerful propaganda tool: at a time when the Depression was seen widely as an indictment of the endemic anarchy of free-market capitalism, the Labour party sought to identify itself with the alternative vision of the scientifically ordered world associated with the idea of planning.Less
This chapter discusses socialist planning that satisfied two urgent ideological needs within the post-1931 Labour party. It states that planning served as an attractive socialist alternative to the discredited capitalist market system. It notes that the traditional Labour demand for ‘fundamental reconstruction’ acquired a new sense of urgency in the 1930s, as the world economic collapse and the prolonged slump at home powerfully amplified the socialist critique of the market economy. It further explains that the idea of ‘planned economy’ served as a powerful propaganda tool: at a time when the Depression was seen widely as an indictment of the endemic anarchy of free-market capitalism, the Labour party sought to identify itself with the alternative vision of the scientifically ordered world associated with the idea of planning.
Daniel Ritschel
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198206477
- eISBN:
- 9780191677151
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206477.003.0006
- Subject:
- History, British and Irish Modern History, Economic History
This chapter examines the Self-Government for Industry Bill, which intended to establish in Britain a variant of a corporatist economy, composed of functionally organized industrial corporations and ...
More
This chapter examines the Self-Government for Industry Bill, which intended to establish in Britain a variant of a corporatist economy, composed of functionally organized industrial corporations and headed by a representative ‘Parliament of Industry’, free of either public controls or the restraints of the competitive market system. It explains that the Bill, sponsored by PEP and the Industrial Reorganisation League and supported by Conservative back-benchers and influential sections of the business community, was seriously considered by both the Federation of British Industries and the National government. It notes that the campaign represents the climax of the idea of ‘capitalist planning’ and certainly a most radical attempt to remodel the economy along the lines of a corporatist plan.Less
This chapter examines the Self-Government for Industry Bill, which intended to establish in Britain a variant of a corporatist economy, composed of functionally organized industrial corporations and headed by a representative ‘Parliament of Industry’, free of either public controls or the restraints of the competitive market system. It explains that the Bill, sponsored by PEP and the Industrial Reorganisation League and supported by Conservative back-benchers and influential sections of the business community, was seriously considered by both the Federation of British Industries and the National government. It notes that the campaign represents the climax of the idea of ‘capitalist planning’ and certainly a most radical attempt to remodel the economy along the lines of a corporatist plan.
Gergely Baics
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691168791
- eISBN:
- 9781400883622
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691168791.003.0008
- Subject:
- History, American History: 19th Century
This introductory chapter provides an overview of the book's main themes. This book tells story of New York's transition from a tightly regulated public market system of provisioning in the Early ...
More
This introductory chapter provides an overview of the book's main themes. This book tells story of New York's transition from a tightly regulated public market system of provisioning in the Early Republic to a free-market model in the antebellum period. It examines what a municipal market system was and how it worked to supply urban dwellers; how and why access to food moved from the public to the private domain by the 1840s; how these two distinctive political economies shaped the physical and social environments of a booming city; and what the social consequences of deregulation were for residents of America's first metropolis. On the whole, the book offers a comprehensive account based in political economy and the social and geographic history of the complex interplay of urban governance, market forces, and the built environment in provisioning New Yorkers.Less
This introductory chapter provides an overview of the book's main themes. This book tells story of New York's transition from a tightly regulated public market system of provisioning in the Early Republic to a free-market model in the antebellum period. It examines what a municipal market system was and how it worked to supply urban dwellers; how and why access to food moved from the public to the private domain by the 1840s; how these two distinctive political economies shaped the physical and social environments of a booming city; and what the social consequences of deregulation were for residents of America's first metropolis. On the whole, the book offers a comprehensive account based in political economy and the social and geographic history of the complex interplay of urban governance, market forces, and the built environment in provisioning New Yorkers.
Alain Bresson
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780691183411
- eISBN:
- 9781400852451
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691183411.003.0015
- Subject:
- History, Ancient History / Archaeology
This chapter examines the extent and the limits of the market system in ancient Greece. It begins with a historical overview of the center-periphery model that emerged during the period, predation as ...
More
This chapter examines the extent and the limits of the market system in ancient Greece. It begins with a historical overview of the center-periphery model that emerged during the period, predation as a defining characteristic of the ancient Greek market, and the divergence of prices from one region to another—often seen as a symptom of a lack of market integration. It then compares the overall performance of the market in the city-states with those of the cities of medieval and modern Europe before discussing the disequilibrium between supply and demand and the form of risk management adopted by individuals and by cities that made the market of ancient Greece far from being a “perfect market.” The chapter concludes with an analysis of the Nash equilibrium that characterized the market and the factors that limited the production of grain to be sold on the market.Less
This chapter examines the extent and the limits of the market system in ancient Greece. It begins with a historical overview of the center-periphery model that emerged during the period, predation as a defining characteristic of the ancient Greek market, and the divergence of prices from one region to another—often seen as a symptom of a lack of market integration. It then compares the overall performance of the market in the city-states with those of the cities of medieval and modern Europe before discussing the disequilibrium between supply and demand and the form of risk management adopted by individuals and by cities that made the market of ancient Greece far from being a “perfect market.” The chapter concludes with an analysis of the Nash equilibrium that characterized the market and the factors that limited the production of grain to be sold on the market.
Michael E. Meeker
- Published in print:
- 2002
- Published Online:
- May 2012
- ISBN:
- 9780520225268
- eISBN:
- 9780520929128
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520225268.003.0003
- Subject:
- Anthropology, Middle Eastern Cultural Anthropology
This chapter analyzes the ways topography and environment consistently influenced its inhabitants to participate in the wider state and market systems, beginning with a detailed description of the ...
More
This chapter analyzes the ways topography and environment consistently influenced its inhabitants to participate in the wider state and market systems, beginning with a detailed description of the topography, environment, and landscape of Turkey. It then emphasizes that, aside from the Pontic chain, the topography and environment of Turkey did not consistently function to isolate the coastal region from the outside world. The chapter also studies the total distribution of the ethnic groups in the early province of Trabzon, describes the society and state in the Pontic enclave, and discusses the economic status of these societies.Less
This chapter analyzes the ways topography and environment consistently influenced its inhabitants to participate in the wider state and market systems, beginning with a detailed description of the topography, environment, and landscape of Turkey. It then emphasizes that, aside from the Pontic chain, the topography and environment of Turkey did not consistently function to isolate the coastal region from the outside world. The chapter also studies the total distribution of the ethnic groups in the early province of Trabzon, describes the society and state in the Pontic enclave, and discusses the economic status of these societies.
Gergely Baics
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691168791
- eISBN:
- 9781400883622
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691168791.001.0001
- Subject:
- History, American History: 19th Century
New York City witnessed unparalleled growth in the first half of the nineteenth century, its population rising from thirty thousand people to nearly a million in a matter of decades. This book looks ...
More
New York City witnessed unparalleled growth in the first half of the nineteenth century, its population rising from thirty thousand people to nearly a million in a matter of decades. This book looks at how America's first metropolis grappled with the challenge of provisioning its inhabitants. It tells the story of how access to food, once a public good, became a private matter left to free and unregulated markets—and of the profound consequences this had for American living standards and urban development. Taking readers from the early republic to the Civil War, the book explores the changing dynamics of urban governance, market forces, and the built environment that defined New Yorkers' experiences of supplying their households. It paints a vibrant portrait of the public debates that propelled New York from a tightly regulated public market to a free-market system of provisioning, and shows how deregulation had its social costs and benefits. Using cutting-edge GIS mapping techniques the book reconstructs New York's changing food landscapes over half a century, following residents into neighborhood public markets, meat shops, and groceries across the city's expanding territory. The book lays bare how unequal access to adequate and healthy food supplies led to an increasingly differentiated urban environment. A blend of economic, social, and geographic history, the book traces how this highly fragmented geography of food access became a defining and enduring feature of the American city.Less
New York City witnessed unparalleled growth in the first half of the nineteenth century, its population rising from thirty thousand people to nearly a million in a matter of decades. This book looks at how America's first metropolis grappled with the challenge of provisioning its inhabitants. It tells the story of how access to food, once a public good, became a private matter left to free and unregulated markets—and of the profound consequences this had for American living standards and urban development. Taking readers from the early republic to the Civil War, the book explores the changing dynamics of urban governance, market forces, and the built environment that defined New Yorkers' experiences of supplying their households. It paints a vibrant portrait of the public debates that propelled New York from a tightly regulated public market to a free-market system of provisioning, and shows how deregulation had its social costs and benefits. Using cutting-edge GIS mapping techniques the book reconstructs New York's changing food landscapes over half a century, following residents into neighborhood public markets, meat shops, and groceries across the city's expanding territory. The book lays bare how unequal access to adequate and healthy food supplies led to an increasingly differentiated urban environment. A blend of economic, social, and geographic history, the book traces how this highly fragmented geography of food access became a defining and enduring feature of the American city.
Tom Malleson
- Published in print:
- 2014
- Published Online:
- April 2014
- ISBN:
- 9780199330102
- eISBN:
- 9780199368266
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199330102.003.0004
- Subject:
- Political Science, Political Theory, Democratization
The aim of this chapter is to explore the degree to which democrats should rely on the market for matters of economic allocation and to what extent we need to look to alternative institutions to ...
More
The aim of this chapter is to explore the degree to which democrats should rely on the market for matters of economic allocation and to what extent we need to look to alternative institutions to achieve our goals. Two main arguments are advanced. The first is that a democratic economy requires a regulated market system. Neoliberal market systems are far from the democratic ideal; social democratic market systems are closer, but they still come up against strong limits in the form of inherent market failures which prevent real democracy from being possible in such an economy. The second argument is that the market is not a natural or unitary thing—it can be shaped in fundamentally different ways, and in particular it can be shaped in ways that help foster democratic businesses.Less
The aim of this chapter is to explore the degree to which democrats should rely on the market for matters of economic allocation and to what extent we need to look to alternative institutions to achieve our goals. Two main arguments are advanced. The first is that a democratic economy requires a regulated market system. Neoliberal market systems are far from the democratic ideal; social democratic market systems are closer, but they still come up against strong limits in the form of inherent market failures which prevent real democracy from being possible in such an economy. The second argument is that the market is not a natural or unitary thing—it can be shaped in fundamentally different ways, and in particular it can be shaped in ways that help foster democratic businesses.
