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Law, Legislation and Liberty : A new statement of the liberal principles of justice and political economy
With a new foreword by Paul Kelly 'I regard Hayek's work as a new opening of the most fundamental debate in the field of political philosophy' – Sir Karl Popper 'This promises to be the crowning work of a scholar who has devoted a lifetime to thinking about society and its values.The entire work must surely amount to an immense contribution to social and legal philosophy' - Philosophical Studies Law, Legislation and Liberty is Hayek's major statement of political philosophy and one of the most ambitious yet subtle defences of a free market society ever written.A robust defence of individual liberty, it is also crucial for understanding Hayek’s influential views concerning the role of the state: far from being an innocent bystander, he argues that the state has an important role to play in defending the norms and practices of an ordered and free society.His arguments had a profound influence on the policies of Thatcher in the 1980s and resonate today in visions of the ‘Big Society’. First published in three separate volumes, this Routledge Classics edition makes one of his most important books available in a single volume.Essential reading for understanding the background to the recent world economic turmoil and financial crisis, it also foreshadows the subsequent heated debate about regulation and political governance if such disasters are to be avoided in the future.
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A Political Economy of Justice
Defining a just economy in a tenuous social-political time. If we can agree that our current social-political moment is tenuous and unsustainable—and indeed, that may be the only thing we can agree on right now—then how do markets, governments, and people interact in this next era of the world?A Political Economy of Justice considers the strained state of our political economy in terms of where it can go from here.The contributors to this timely and essential volume look squarely at how normative and positive questions about political economy interact with each other—and from that beginning, how to chart a way forward to a just economy. A Political Economy of Justice collects fourteen essays from prominent scholars across the social sciences, each writing in one of three lanes: the measures of a just political economy; the role of firms; and the roles of institutions and governments.The result is a wholly original and urgent new benchmark for the next stage of our democracy.
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Governance in the Social Economy : An Introduction
In this textbook, governance aspects are presented and explained in a comprehensible way at different levels: After a look at the roots of the governance discussion in economics and political science, political and economic negotiation and problem-solving processes are discussed on the macro level "Orders of Governance" and institutional and normative framework conditions are considered; on the meso level "Cooperation", forms of steering and control as well as cooperation and coordination of social economy enterprises are dealt with; and on the micro level "Interactions", governance is dealt with from the perspective of the actors and their interactions.
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Gender Equality and the Cultural Economy : Comparative Perspectives
The status of women in the creative and cultural industries remains precarious.This comparative analysis provides insights from seven key economies to help understand progress towards gender equality in culture and the arts and the broader cultural economy. With empirical and policy analysis spanning Europe and the US, the authors investigate the extent to which gender equality has entered the mainstream along dimensions of leadership, access and awards, pay and pension gaps, work-life balance, and the monitoring of gender equality.While many of the structural barriers have been erased, countries differ significantly in how much gender equality has been achieved in the creative economy and how much female talent is lost and unrecognized. This book is essential reading for scholars, policymakers, and practitioners across the human and social sciences, especially those involved with arts management and the creative or cultural economy more broadly.
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How does the Social Market Economy contribute to social justice?
The Social Market Economy contributes to social justice by promoting a balance between economic growth and social welfare. It aims to reduce inequality by providing equal opportunities for all individuals to participate in the economy. Through policies such as progressive taxation, social welfare programs, and regulations on market competition, the Social Market Economy seeks to ensure that the benefits of economic growth are shared more equally among all members of society. By emphasizing both economic efficiency and social equity, this economic model helps to create a more just and inclusive society.
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Free market economy or planned economy?
The choice between a free market economy and a planned economy depends on the specific goals and values of a society. A free market economy allows for individual freedom and competition, which can lead to innovation and efficiency. However, it can also result in inequality and lack of regulation. On the other hand, a planned economy allows for more control and distribution of resources, but it can stifle individual initiative and innovation. Ultimately, the decision between the two depends on the balance a society seeks between individual freedom and social equality.
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Why market economy and not planned economy?
A market economy is preferred over a planned economy because it allows for individual freedom and choice in economic decision-making. In a market economy, prices are determined by supply and demand, leading to efficient allocation of resources. Additionally, competition in a market economy encourages innovation and productivity, driving economic growth. On the other hand, a planned economy, where the government controls production and distribution, can lead to inefficiencies, lack of innovation, and limited consumer choice.
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How are planned economy and shortage economy related?
A planned economy is a system in which the government controls and regulates production, distribution, and prices of goods and services. In a planned economy, resources are allocated based on a central plan rather than market forces. A shortage economy occurs when there is a lack of goods and services available for consumers due to factors such as poor planning, inefficiency, or external shocks. In a planned economy, the risk of a shortage economy is higher as the government may not accurately predict or meet the demands of the population, leading to imbalances in supply and demand.
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Effective Governance and the Political Economy of Coordination
This book provides a conceptual and methodological approach for researchers evaluating governance and policy in the face of complexity, and demonstrates the application of this approach across different governance and policy contexts.It fills a significant gap in the literature on governance, and proposes a theoretical focus on coordination to enable the assessment of multi-tier, cross-sector governance institutions and policy.It also introduces a range of applications for the proposed approach, including two case studies of governance and policy for the built environment and health services.The book introduces, analyses and draws from a range of perspectives in political economy, political science, policy analysis and evaluation.It also engages with longstanding debates in political economy about states and markets, which are largely overlooked by political science analyses of coordination challenges in governance.The book will appeal to scholars and students of governance, public policy and political science.
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Political Economy of the Firm : Authority, Governance, and Economic Democracy
An alternative theory of the firm is needed that helps better understand the nature and actual functioning of firms as well as the challenges raised by digital platform firms.In defining firms as economic collective ventures organised by political means, this book offers a “political economy” vision of firms. Specifically, the book provides an authority-based conception of the firm that supplies a theoretical grounding for democratic governance.It is argued that workers must be viewed as actors of the firm, not passive subjects of capital, given that authority is a non-coercive form of power.The book examines authority and subordination from the workers’ perspective and argues that when workers accept authority, it is because they see it as facilitating mutually beneficial cooperation between people with divergent interests.As managerial authority is based on its acceptance by workers, it calls for legitimacy.Neither ownership nor the function that authority performs makes it legitimate.The book shows that legitimacy entails the democratisation of corporate governance, within the framework of “pluralistic companies”, and thus joins the many voices that increasingly question shareholder primacy. The book will be of great interest to researchers and students in economics and law as well as labour professionals, employers, unions, policymakers and anybody interested in economic democracy.
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Prosperity and Justice : A Plan for the New Economy
The Final Report of the IPPR Commission on Economic Justice The UK economy is broken.It no longer provides rising living standards for the majority.Young people face an increasingly insecure future. The gap between rich and poor areas is widening. Meanwhile the rise of giant digital companies, the advance of automation, and catastrophic environmental degradation challenge the very foundations of our economic model.This important book analyses these profound challenges and sets out a bold vision for change.The report of a group of leading figures from across British society, it explains how the deep weaknesses of the UK economy reflect profound imbalances of economic power.Its radical policy agenda for the 2020s includes new missions to drive productivity and innovation, an overhaul of our financial system, and reforms to improve wages, job quality and the redistribution of wealth.Ten years after the financial crisis, as the UK confronts the challenge of Brexit, this is an urgent and compelling account of the reforms needed to build a new economy of prosperity, justice and environmental sustainability.It will set the terms of political and economic debate for years to come.
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God's Good Economy : Doing Economic Justice In Today's World
‘The earth is the Lord’s’ (Ps.24:1). God states that He is the rightful owner of the earth and everything in it.God wants people to enjoy material things – but God must be the centre of our lives.Christ’s radical call to his followers includes the call to let him drive our economic and business life.This means letting God’s justice rule all our economic relationships: treating people rightly; a constant seeking of justice for, especially, the poor and needy; working so that all participate in God’s blessings, including material blessings. In Part 1, Andrew Hartropp looks at how Christ’s followers are to do justice in our economic relationships: as individuals, as households, in the workplace and as church communities. Then, moving outward (in concentric circles), Part 2 shows how Jesus’s disciples can do justice in and through secular institutions, including companies and firms, banks and other financial institutions, then government institutions, and then in the international/global context. The epilogue is on the glorious vision of God’s everlasting kingdom, which both drives us and also keeps our efforts now in proper perspective.
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What is the difference between social market economy, free market economy, and planned economy?
A social market economy combines elements of both a free market economy and a planned economy. It allows for private ownership of businesses and resources, while also implementing government regulations to ensure fair competition and social welfare. In contrast, a free market economy relies on minimal government intervention, allowing businesses to operate with little regulation. On the other hand, a planned economy is centrally controlled by the government, with decisions regarding production, distribution, and pricing made by central authorities.
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"Equality before, but justice first?"
"Equality before, but justice first" suggests that while equality is important, it should not come at the expense of justice. This phrase emphasizes the need to address systemic injustices and inequalities in order to achieve true equality. It implies that simply treating everyone the same does not necessarily address the underlying issues of discrimination and oppression. Instead, it calls for prioritizing justice in order to create a more equitable society for all.
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Is Germany a centrally planned economy, a social market economy, or a free market economy?
Germany is considered a social market economy. This means that while it operates within a free market framework, the government plays a significant role in regulating the economy and providing social welfare programs. The social market economy model aims to balance economic freedom with social responsibility, promoting competition and entrepreneurship while also ensuring social security and a fair distribution of wealth. This approach has been a key factor in Germany's economic success and stability.
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How do planned economy and social market economy differ?
A planned economy is one in which the government controls all aspects of economic production and distribution, including setting prices and determining what goods and services are produced. In contrast, a social market economy is a system in which the government plays a more limited role, allowing for private ownership and competition while also providing social safety nets and regulations to ensure fair competition and protect consumers. In a planned economy, the government has a central role in decision-making, while in a social market economy, the market plays a more significant role, with government intervention focused on ensuring fairness and social welfare.
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