World development and economic systems : theory and applications / S. I. Cohen.

Format:

Book

Author/Creator:

Cohen, S. I., 1942- author.

Language:

English

Subjects (All):

Economics.

Economic development.

Economic history.

Physical Description:

1 online resource (409 p.)

Place of Publication:

Singapore : World Scientific Publishing Co. Pte. Ltd., 2015.

Language Note:

English

Summary:

"Mainstream economics generally assumes a universalistic market-oriented economic behavior that drives countries to adopt one economic system, with marginal variations. This book extends the scope of theory and applications by asserting that other distinct behaviors evolve and dominate in other economic systems. Systemic differences arise from distinct social, political and economic behavioral-motivational types that associate with intensive agent activity in household, state and firm settings. External conditions, historical events, and agent interactions ultimately result in domination of one motivational type over others; thus determining distinct profiles of structure, conduct, and performance in different economic systems, that are generally observed in the adopting countries. The book validates the theory empirically, traces the historical evolution of the respective economic systems in the world regions and evaluates their responses to various systemic failures such as monopoly, uncertainties, externalities and collective needs. The evaluation is extended to structural changes and system performance regarding growth and distribution. This book draws on microeconomics, welfare economics, development economics and the international economy. The book projects the influence potential of leading countries/systems, and treats effects of displacement of incumbent leaders (US, Japan) by newcomer leaders (China, India) on system competition and on world governance."-- Provided by publisher.

Contents:

CONTENTS; PREFACE; Chapter 1. INTRODUCTION; 1.1. OBJECTIVE; 1.2. PAST AND CURRENT STUDIES OF ECONOMIC SYSTEMS; 1.3. BUILDING BLOCKS OF AN INTEGRATIVE THEORY OF ECONOMIC SYSTEMS; 1.4. OUTLINE; ENDNOTES; Chapter 2. AN INTEGRATIVE THEORY OF ECONOMIC SYSTEMS; 2.1. INTRODUCTION; 2.2. COMPONENTS OF THE ECONOMIC SYSTEM; 2.3. SETTINGS: HOUSEHOLD, h, FIRM, f AND STATE SETTINGS, s; 2.4. THE SUBSYSTEMS OF HOUSEHOLDS (H), FIRMS (F) AND THE STATE (S); 2.5. INFLUENCES AND DOMINANCE OF ONE SUBSYSTEM OVER OTHER SUBSYSTEMS; 2.5.1. Interactive influence; 2.5.2. Regulative influence

2.6. DOMINANT SUBSYSTEMS AND RELATED PROTOTYPE SYSTEMS: HIS, FIS, SIS2.7. EXPLORING PATHS OF DOMINANCE FROM A COMMON STARTING SITUATION; 2.7.1. The historical institutional timeline approach; 2.7.2. Analytical modelling of evolutionary changes; 2.8. EXPLORING ABSENCE OF DOMINANCE: THE MULTI-POLES SYSTEM (MPS); 2.9. MORE DYNAMICS: INTERACTIONS BETWEEN WORLD DEVELOPMENT AND ECONOMIC SYSTEMS; 2.10. THE EVALUATION FRAMEWORK FOR ECONOMIC SYSTEMS; 2.11. CONCLUDING REMARKS; APPENDIX; ENDNOTES; Chapter 3. EMPIRICAL VALIDATIONS; 3.1. INTRODUCTION

3.2. POSITIONING OF COUNTRY GROUPS ALONG PROTOTYPE SYSTEMS3.3. DEDUCTIVE INDICATORS ON AGENT ATTITUDES IN DIFFERENT ECONOMIC SYSTEMS AND RELATING COUNTRY GROUPS; 3.4. DEDUCTIVE INDICATORS ON INSTITUTIONAL CONDUCT; 3.5. OUTCOME PERFORMANCE; 3.6. CONCLUDING REMARKS; APPENDICES; ENDNOTES; Chapter 4. EVOLUTION AND EVALUATION OF THE FIRM INTENSIVE SYSTEM IN FIS-CENTRED COUNTRIES; 4.1. INTRODUCTION; 4.2. HISTORICAL DEVELOPMENTS; 4.2.1. Focus; 4.2.2. The period of 1000 to 1400

(i) The Papal revolution and crusade wars. (ii) The feudal-lordship-manorial subsystem. (iii) Urban communes. (iv) Trade guilds4.2.3. The period of 1400 to 1700; (i) The Renaissance. (ii) The Reformist Revolutions. (iii) The world discoveries. (vi) The colonial conquest. (v) The rise of nation states. (vi) The rise of business metropolis; 4.2.4. The period of 1700 to 1900; (i) Enlightenment and the constitutional revolutions. (ii) Economic thought and the IR; 4.2.5. The period of the 20th century and recent years

(i) World War I. (ii) World War II. (iii) Great Depression. (iv) Financial crises. (v) Integration of the FIS. (vi) Globalization4.2.6. A summary illustration of the changed relative powers of main subsystems in FIS countries; 4.3. EVALUATION OF CHALLENGES AND RESPONSES IN FIS-CENTRED COUNTRIES; 4.3.1. The free market economy model, market failures and policy responses; 4.3.2. Production indivisibilities; (i) Natural monopoly. (ii) Imperfect competition. (iii) The trade-off between perfect competition and technological advance; 4.3.3. Imperfect governance

(i) Incomplete information. (ii) Asymmetric information

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

Description based on print version record.

ISBN:

981-4632-33-3

OCLC:

907289838