Uncertainty, Instability, and the Control of Markets
AbstractGrounded in the methodological commitments shared by various traditions in heterodox economics, this paper explores going enterprises’ cooperative actions to control markets through social networks. It is argued that 1) market institutions are created and controlled by business enterprises and the state, that 2) competition and cooperation among business enterprises are two sides of the same coin, that 3) competition is regulated, and hence that 4) market instability is managed, if not eliminated, by those who control the market. Such arguments lead to the managed competition thesis that encompasses corporate governance, market governance, and market regulation in an integrative manner.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 47936.
Date of creation: 01 Jul 2013
Date of revision:
Market control; managed competition; uncertainty; instability;
Find related papers by JEL classification:
- B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
- D40 - Microeconomics - - Market Structure and Pricing - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-05 (All new papers)
- NEP-CDM-2013-07-05 (Collective Decision-Making)
- NEP-COM-2013-07-05 (Industrial Competition)
- NEP-HME-2013-07-05 (Heterodox Microeconomics)
- NEP-HPE-2013-07-05 (History & Philosophy of Economics)
- NEP-PKE-2013-07-05 (Post Keynesian Economics)
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