Employers’ Economics versus Employees’ Economy

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How Adam Smith’s Legacy Obscures Public Investment in the Private Sector

ISBN: 3319501488
ISBN 13: 9783319501482
Autor: McDermott, John F M
Verlag: Springer Verlag GmbH
Umfang: xi, 191 S.
Erscheinungsdatum: 01.02.2017
Auflage: 1/2017
Produktform: Gebunden/Hardback
Einband: GEB

This book argues that economic activity in the public sphere now underwrites private corporations, and rejects rigid adherence to traditional economic theories that no longer apply. Adam Smith’s widely used “merchant’s model” assumes that most investment is private, when in fact research demonstrates that public investment in the workforce through education and training far outweighs the private sector, and does not account for the growing presence of consensual pricing, the diversification of modern businesses, or the increasing internal authoritarianism of globalizing companies. With de facto public support for these adaptations undermining the universally presumed economic model, private corporations are able to increase their profits while misrepresenting the investment of their own global labor forces. This book suggests an “economy of laws” solution that balances the needed degree of central investment planning with the continuation of our pluralist economy of largely autonomous firms, principally by extending the full rights of citizens into the workplace itself.

Artikelnummer: 246185 Kategorie:

Beschreibung

Autorenporträt

John F. M. McDermott is Professor Emeritus of the State University of New York. He is the author of four previous books, two of them on economics: Corporate Society (1991) and Economics in Real Time (2004).

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