The end of the experiment? : from competition to the foundational economy / Andrew Bowman, Ismail Ertürk, Julie Froud, Sukhdev Johal, John Law, Adam Leaver, Michael Moran and Karel Williams.

Format:

Book

Author/Creator:

Bowman, Andrew, author.

Series:

Manchester capitalism

Manchester Capitalism

Language:

English

Subjects (All):

Great Britain--Economic conditions.

Great Britain.

Economic conditions.

Great Britain--Economic policy.

Economic policy.

Competition--Great Britain.

Competition.

Physical Description:

xiii, 166 pages : illustrations ; 22 cm.

Distribution:

New York, NY : Palgrave Macmillan.

Place of Publication:

Manchester, UK ; New York : Manchester University Press, 2014.

Summary:

This book describes the failure of a thirty-year old policy experiment with competition and markets and proposes a new experiment in social licensing of foundational activities. The repeated failure of that old experiment in subjecting the basics of everyday life to competition in conclusively demonstrated by detailed case studies of three sectors - broadband, food supply and retail baking - where private sector business models realize point value for corporation at the expense of underinvestment, damaged supply chains and gouged customs. The radical move is then to change the frame and envisage a new experiment. The three sectors are only part of a much larger foundational economy, producing mundane goods and services which form the basis of civilized life. In this sheltered zone, firms and sectors enjoy privileges which bring profit. The book argues for a new experiment in social licensing where the right to trade in foundational activities would be dependent on the discharge of social obligations in the form of sourcing, training and living wages. This argument of reframing economic policy choices comes from a team of researchers and policy advocates based at the Centre for Research on Socio-Cultural Change (CRESC) who blog as Manchester Capitalism. Their book combines rigour and readability so that it is relevant to all those - practitioners, policy makers, academics and engaged citizens - who are looking for new possibilities of action which can start a process of learning about a better way of organising the fundamentals of economic life. It offers a way out of the current impasses. Book jacket.

Contents:

Machine generated contents note: 1. The 30 year experiment: imaginary, history and cases

Introduction

Disease, imaginary and experiment

National decline and two 30 year experiments

Sectoral cases: telecoms/broadband, supermarkets/dairy and retail banking

2. Telecoms and broadband: under-investment and confusion marketing

Overview

History: from public utility to natural monopoly

Today's challenge: fibre-optic and fast broadband

Investment-averse private sector business models

Rural broadband: BT has government over a barrel

Competition and football rights

Conclusion

Notes to Chapter 2

3. Supermarkets and dairy: success at the cost of suppliers

The mechanics of shareholder value

Defending margins: special offers not low prices

Visible and invisible victims

Farmers: visible victims

Processors: the squeezed middle

Note to Chapter 3.

Contents note continued: 4. Retail banking: (mis- )selling for return on equity

History of a business model

High return on equity model alive and well

Cost control and pressure selling of products

Lending on property vs lending to SMEs

Notes to Chapter 4

5. Changing the frame: there's more than one show in town

The foundational economy

Point value

The state as guarantor of monopoly

Policy change: the antidote fallacy and bolt-ons

Social license

Decentralisation and pluralism

Changing the future together

Notes to Chapter 5.

Notes:

Includes bibliographical references (pages 147-166).

ISBN:

0719096332

9780719096334

OCLC:

881509518

Publisher Number:

60001937148