1st Edition

Understanding Business: Markets A Multidimensional Approach to the Market Economy

Edited By Vivek Suneja Copyright 2000

    How do markets work? This reader introduces the student to the workings of the market, explaining both the reasons for its success and its shortcomings. Throughout, the text encourages a critical approach demonstrating the diversity of market economies. In particular it explores:

    • the social nature of market economies
    • the range of approaches to the study of the market: Marxist, Austrian, Keynesian and institutional economics are discussed as alternatives to the neo-classical mainstream
    • the differences between Anglo-American, European and Asian economic models
    • the historical development of markets
    • globalisation: its extent and its impact
    • the costs and the benefits of markets

    With chapters by Will Hutton, John Gray and Eric Hobsbawm, this reader provides an excellent introduction.

    Introduction Section 1: The Evolution of the Modern World Economy 1.The Global Economy, 1400-1800 AD 2.The British Industrial Revolution E. Hobsbawm Section 2: Economic Agents V. Suneja 3.Households J. Wheelock 4.More on Consumer Demand B. Atkinson and R. Miller 5.Organisations N. Costello Section 3 : How Markets Work 6.Competition and Power in Markets V. Brown Section 4 : Market Failure 7.When Markets Fail J. Sloman and M. Sutcliffe Section 5 : The Global Market 8.International Trade J. Sloman and M. Sutcliffe 9.Protectionism and Industrialisation: an Historical Perspective P. Bairoch 10.Multinational Corporations, 11.Globalisation in the Age of Empire E. Hobsbawm Section 6 : Markets: Good Servants, Bad Masters? 12.The Diversity of Capitalisms W. Hutton 13.Capitalism and Global Free Markets J. Gray 14.Why did East Asia Grow so Fast? A. Singh.

    Biography

    Vivek Suneja