Title:
The Oxford handbook of capitalism / edited by Dennis C. Mueller.
Author:
Mueller, Dennis C.
Publication Information:
Oxford ; New York : Oxford University Press, ©2012.
Call Number:
HB501 .O97 2012
Abstract:
The financial crisis that began in 2008 and its lingering aftermath have caused many intellectuals and politicians to question the virtues of capitalist systems. The 19 original essays in this handbook, written by leading scholars from Asia, North America, and Europe, analyze both the strengths and weaknesses of capitalist systems. The volume opens with essays on the historical and legal origins of capitalism: entrepreneurship, innovation, property rights, contracts, capital markets, and the modern corporation. The next set of chapters discusses the problems that can arise in capitalist systems including monopoly, principal agent problems, financial bubbles, excessive managerial compensation, and empire building through wealth-destroying mergers. Two subsequent essays examine in detail the properties of the "Asian model" of capitalism as exemplified by Japan and South Korea, and capitalist systems where ownership and control are largely separated as in the United States and United Kingdom. The handbook concludes with an essay on capitalism in the 21st century by Nobel Prize winner Edmund S. Phelps.
ISBN:
9780195391176
9780199942596
9780199968725
Series:
Oxford handbooks series
Oxford handbooks.
Physical Description:
xi, 561 pages : illustrations ; 26 cm.
Subject Term:
Contents:
The good, the bad, and the ugly / The modern capitalist world economy : a historical overview / Legal institutions and economic development / Capital markets and financial politics : preferences and institutions / The four types of capitalism, innovation, and economic growth / The dynamics of capitalism / The role of finance in economic development : benefits, risks, and politics / Property rights and capitalism / Management and governance of the business enterprise : agency, contracting, and capabilities perspectives / Contracts / Capitalism as a mixed economic system / Monopoly capitalism / Agency problems and the fate of capitalism / Executive compensation : governance and the financial crisis / Bubbles in asset prices / Mergers and the market for corporate control / Dispersed ownership : the theories, the evidence, and the enduring tension between "lumpers" and "splitters" / The East Asian (mostly Japanese) model of capitalism / Refounding capitalism
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