The works of the English political economist David Ricardo (1772-1823), and particularly his most important work, The Principles of Political Economy and Taxation, lie at the heart of the laissez faire school of economics, preceded by Adam Smith and followed by John Stuart Mill. Economic growth, economic freedom - free trade rather than mercantilism, or controlled trade - was the fundamental attitude. Having been disowned by his Sephardic Jewish family for marrying outside the faith at the age of 21, Ricardo went on to make his own fortune, notably gaining ‘a million sterling’ by speculating on the outcome of the Battle of Waterloo. But it was with The Principles of Political Economy and Taxation (1817, revised 1821) that he placed his name in the history of economics. He expanded Smith’s ideas on the ‘labour theory of value’ and the theory of distribution. In the first, Ricardo argued that competitive market conditions linked the value or price of goods to the labour costs of producing them. In the second, he said that national product emerged from three social classes: wages for labourers, profits for owners of capital, and rents for landlords and that a benefit for one incurred a loss for another. Underpinning all this is his insistence that free trade, rather than protectionism - allowing international and domestic markets to operate without controls - was ultimately beneficial to all, though changing conditions result in occasional fluctuations. His work proved of lasting influence through Karl Marx and down to the present day. This recording, clearly read by Matthew Lloyd Davies, uses the final 1821 text. 1. Language: English. Narrator: Matthew Lloyd Davies. Audio sample: http://samples.audible.de/bk/dhrm/000202/bk_dhrm_000202_sample.mp3. Digital audiobook in aax.
The 1980s, pronounced "the Eighties", was the decade that started on January 1, 1980 and ended on December 31, 1989. It was the ninth decade of the 20th century. The time period saw social, economic and general change as wealth and production migrated to newly industrializing economies. As economic liberalization increased in the developed world, multiple multinational corporations associated with the manufacturing industry relocated into Thailand, Malaysia, Mexico, South Korea, Taiwan, China, and new market economies in Eastern Europe following the collapse of communism in eastern Europe. Japan and West Germany are the most notable developed countries that continued to enjoy rapid economic growth during the decade whilst other western nations, particularly the United States and United Kingdom re-adopted laissez-faire economic policies. Developing countries across the world faced economic and social difficulties as they suffered from multiple debt crises in the 1980s, requiring many of these countries to apply for financial assistance from the International Monetary Fund (IMF) and the World Bank.
Information and communication technologies (ICTs) infiltrate nearly every aspect of modern life. This pervasive technological revolution has led to significant growth in the utilization of ICTs. One specific undesirable phenomenon suggested to originate from the use of ICTs at home and at work is known as technostress. At the workplace, technostress not only impairs performance, productivity, employee commitment, and job satisfaction, but also increases the incidence of absenteeism and turnover. To date, the literature has not considered the impact that leadership style may have on the prevalence of technostress in practice. Utilizing a multiple linear regression analysis, this study evaluated whether transformational, transactional, or laissez-faire leadership styles and demographic factors including age, gender, education, and industry experience, influenced the perceived level of technostress in information technology managers working in the United States between the ages of 18 to 65. Results indicated that both transactional and laissez-faire leadership styles were statistically significant and positively influenced technostress.
Discussions about the benefits of international free trade are not conclusive. Some believe that it has historically been important in promoting economic growth, employment, efficiency, technological innovation, reducing hunger and ultimately improving wellbeing. Others perceive that international free trade has not contributed to economic development, and in some cases has worsened inequality, unemployment and poverty particularly in the rural areas of developing countries. The Zanzibar Declaration states that the Least Developed Countries have been marginalized in the multilateral trading system as manifested in their insignificant share of 0.4 per cent of world trade. Currently the debate on the economics of free trade is leaning to economists advocating laissez-faire and less trade restrictions, though critics have exposed pragmatic arguments that put doubts on the ability of ordinary people to reap benefits from free trade. Using a macro-micro simulation approach, this book contributes to this discussion by analyzing the benefits and costs for Bolivian families emerging from a prospective trade agreement between Bolivia and the United States of America.
Market fundamentalism is an exaggerated faith in the ability of unfettered laissez-faire or free market economic views or policies to solve economic and social problems. Critics of free market extremism have used the term to denote what they perceive as a misguided belief, or deliberate deception, tha free markets provide the greatest possible equity and prosperity and that any interference with the market process decreases social well being. Users of the term include adherents of interventionist mixed economy and protectionist positions, as well as capitalists such as George Soros and economists such as Nobel Laureate Joseph Stiglitz. Critics cite as fundamentalist the unshakable belief, even against the evidence, that unfettered markets maximize individual freedom, that they are the only means to economic growth and that society should adhere to their specific ideas of progress. Ideas ascribed to fundamentalists include the belief that markets tend towards a natural equilibrium, and that the best interests in a given society are achieved by allowing its participants to pursue their own financial self-interest with no or little restraint or regulatory oversight.
This open access book modifies and revitalizes the concept of the 'developmental state' to understand the politics of emerging economy through nuanced analysis on the roles of human agency in the context of structural transformation. In other words, there is a revived interest in the 'developmental state' concept. The nature of the 'emerging state' is characterized by its attitude toward economic development and industrialization. Emerging states have engaged in the promotion of agriculture, trade, and industry and played a transformative role to pursue a certain path of economic development. Their success has cast doubt about the principle of laissez faire among the people in the developing world. This doubt, together with the progress of democratization, has prompted policymakers to discover when and how economic policies should deviate from laissez faire, what prevents political leaders and state institutions from being captured by vested interests, and what induce them to drive economic development. This book offers both historical and contemporary case studies from Japan, South Korea, Taiwan, Singapore, Indonesia, Malaysia, Myanmar, Ethiopia, Kenya, and Rwanda. They illustrate how institutions are designed to be developmental, how political coalitions are formed to be growth-oriented, and how technocratic agencies are embedded in a network of business organizations as a part of their efforts for state building.
With the fall of the Berlin Wall, one economic modelemerged triumphant. Capitalism - spanning a spectrumfrom laissez faire to authoritarian - shapes the market economies of all the wealthiest and fastest-growing nations.But trouble is cracking its shiny veneer. In the U.S., Europe, and Japan, economic growth has slowed down. Wealth is concentrated in the hands of a few; natural re sources are exploited for short-term profit; and good jobs are hard to find.With piercing clarity, Philip Kotler explains 14 major problems undermining capitalism, including persistent poverty, job creation in the face of automation, high debt burdens, the disproportionate influence of the wealthy on public policy, steep environmental costs, boom-bust economic cycles, and more.Amidst its dire assessment of what's ailing us, Confronting Capitalism delivers a heartening message: We can turn things around. Movements toward shared prosperity and a higher purpose are reinvigorating companies large and small, while proposals abound on government policies that offer protections without stagnation. Kotler identifies the best ideas, linking private and public initiatives into a force for positive change.Combining economic history, expert insight, business lessons, and recent data, this landmark book elucidates today's critical dilemmas and suggests solutions for returning to a healthier, more sustainable Capitalism - that works for all.
Fifty-five years after Atlas Shrugged, Ayn Rand is more in the news than ever. Ayn Rand Explained is an accurate and riveting account of Rand&#8217;s life, work, and influence, with the emphasis on her ideas. The book covers Rand&#8217;s career, from youth in Soviet Russia to Hollywood screenwriter and then to ideological guru; her novels and other fiction writings; her work in ethics, epistemology, and metaphysics; her influence on&#8212;and personal animosity toward&#8212;both conservatism and libertarianism. Rand&#8217;s Objectivism encompasses the ethics of rational egoism (&#8216;The Virtue of Selfishness&#8217;); dedication to rational thinking and acting; rejection of faith in the supernatural, personal freedom from political interference, and a moral defense of limited government and laissez-faire. Objectivism was first promoted through the Nathaniel Branden Institute, headed by Rand&#8217;s young protégé and designated heir. The Institute&#8217;s phenomenally rapid growth was abruptly cut short when Rand expelled Branden and his followers in 1968. Today Objectivism is represented by different factions, notably the Ayn Rand Institute and the Atlas Society. This is a revised, updated edition of The Ideas of Ayn Rand (1991), including new information on Rand&#8217;s rocketing influence, new stories about her personal relationships, and new analysis of her life and ideas.
An authoritative study of the Malaysian economy and labour market. Malaysia has enjoyed an enviable growth record over twenty-five years which few nations can match, and has also been keen to judge her performance against non-growth criteria of poverty eradication and national unity following the emergence of racial conflict in 1969. There are many lessons for policy-makers elsewhere of this active approach to poverty eradication and social restructuring while generating rapid growth, which stands in sharp contrast to laissez-faire orthodoxy.