Comparative Economic Systems: v. 1: Market

This revision of a best-selling book continues to analyze and explain economic systems using standard supply, demand, and cost analysis, along with property rights. Since the first edition appeared in 1990, much of the world has been going through one of history's great economic upheavals, in which state-managed economies of the Soviet type are transforming themselves into market-based systems. Coverage in this second edition reflects these changes with an all-new chapter on transitional economies. All graphs, tables, and other statistical data have also been updated, and a new appendix to chapter one develops the notion of common property to analyze problems of resource depletion and environmental degradation

Property Rights
Introduction to Property Rights
Property Rights and Ownership
Property Rights and Exclusion
Property Rights and Efficiency
A Brief Introduction to Property Rights and Socialism Appendix to Chapter 1 Questions for Review, Discussion, Examination
The Traditional Soviet-type Economy
The Notion of Planning
Centralization vs. Decentralization
Organization and Motivation Questions for Review, Discussion, Examination
Political Rights and the Role of Government in a Market Economy
The Political Dimension of an Economic System
Social Insurance
Expansion of the Public Sector in Market Economies
Industrial Policy in a Mixed Economy
Per-Capita GNP in Developed, Transition, and Rapidly Growing Asian Economies Questions for Review, Discussion, Examination
Roots of Modern Economic Systems
An Hypothesis of Historical Development
Pre-Capitalist Economies
The Emergence of Markets and of Nation States Questions for Review, Discussion, Examination
Two Views of the Evolution of Modern Capitalism: Capitalism as a Pressure Economy
Marx on the Evolution of Modern Capitalism
The Excess Supply of Labor Under Capitalism
Schumpeter's Theory of Capitalist Development
On the Symmetry Between Soviet-type and Free Market Economies Questions for Review, Discussion, Examination
Varieties of Socialism and Pretransition Efforts to Reform Soviet-type Economies
The Socialist System Envisaged by Marx and Engels
Basic Forms of Socialism
Efforts to Reform Soviet-type Economies
Reasons for Reform Efforts and Reform Failure
Perestroika
Concluding Comments: The Outcome of Perestroika Questions for Review, Discussion, Examination
The Problem of Transition from a Soviet-type to a Market Economy
Introduction: The Nature of the Transition Problem
Sequencing of Reforms in Gradual Transition
Gradual Transition vs. Big Bang
The Effect of Freeing Prices in a Transition Economy
The Soft Budget Constraint and the Nature of Financial Markets in Transition Economies
Conclusion: The Current Status of Transition Suggested
Further Readings
Index
About the Author
Table of Contents provided by Ingram. All Rights Reserved.

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Comparative Economic Systems: v. 1: Market and State in Economic Systems

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