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Whither Socialism? - Joseph Stiglitz
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The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith´s invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies.Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading.´´The Wicksell Lectures Whither Socialism? Buch (fremdspr.) Bücher>Fremdsprachige Bücher>Englische Bücher, Mit Press

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The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies. Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading. "The Wicksell Lectures" Whither Socialism? Stiglitz, Joseph E., MIT Press (MA)

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Whither Socialism? - Joseph E. Stiglitz
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2007, ISBN: 0262691825

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Paperback, [PU: MIT Press Ltd], This text proposes an alternative to the neoclassical economic model, based on the economics of information, that provides theoretical insight into the workings of a market economy and guidance for the setting of policy in transitional economies., Politics & Government, Socialism & Left-of-centre Democratic Ideologies, Economics, Economics, Economic Theory & Philosophy, Economic Theory & Philosophy, Economic Systems & Structures, Economic Systems & Structures

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Whither Socialism? (Wicksell Lectures) - Stiglitz, Joseph E
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Whither Socialism?

The rapid collapse of socialism has raised new economic policy questions and revived old theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian model (the formal articulation of Adam Smith's invisible hand), which has dominated economic thought over the past half century, may have wrongly encouraged the belief that market socialism could work. Stiglitz proposes an alternative model, based on the economics of information, that provides greater theoretical insight into the workings of a market economy and clearer guidance for the setting of policy in transitional economies.Stiglitz sees the critical failing in the standard neoclassical model underlying market socialism to be its assumptions concerning information, particularly its failure to consider the problems that arise from lack of perfect information and from the costs of acquiring information. He also identifies problems arising from its assumptions concerning completeness of markets, competitiveness of markets, and the absence of innovation. Stiglitz argues that not only did the existing paradigm fail to provide much guidance on the vital question of the choice of economic systems, the advice it did provide was often misleading."The Wicksell Lectures"

Detailangaben zum Buch - Whither Socialism?


EAN (ISBN-13): 9780262691826
ISBN (ISBN-10): 0262691825
Gebundene Ausgabe
Taschenbuch
Erscheinungsjahr: 1996
Herausgeber: MIT PR
352 Seiten
Gewicht: 0,458 kg
Sprache: eng/Englisch

Buch in der Datenbank seit 14.05.2007 13:20:22
Buch zuletzt gefunden am 12.04.2018 01:34:56
ISBN/EAN: 9780262691826

ISBN - alternative Schreibweisen:
0-262-69182-5, 978-0-262-69182-6


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