Employers’ Economics versus Employees’ Economy
Subtitle: How Adam Smith’s Legacy Obscures Public Investment in the Private Sector
Publisher: Palgrave Macmillan
Published: Jan 24, 2017
Language: eng
Format: hardcover
Number of pages: 191
ISBN-13: 9783319501482
Description: This book argues that economic activity in the public sphere now underwrites private corporations, and rejects rigid adherence to traditional economic theories that no longer apply. Adam Smith's widely used "merchant's model" assumes that most investment is private, when in fact research demonstrates that public investment in the workforce through education and training far outweighs the private sector, and does not account for the growing presence of consensual pricing, the diversification of modern businesses, or the increasing internal authoritarianism of globalizing companies. With de facto public support for these adaptations undermining the universally presumed economic model, private corporations are able to increase their profits while misrepresenting the investment of their own global labor forces. This book suggests an "economy of laws" solution that balances the needed degree of central investment planning with the continuation of our pluralist economy of largely autonomous firms, principally by extending the full rights of citizens into the workplace itself.
Notes: Source title: Employers’ Economics versus Employees’ Economy: How Adam Smith’s Legacy Obscures Public Investment in the Private Sector