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Economics and Power

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  • Bartlett,Randall

Abstract

When a marketplace is considered in isolation, the implicit conclusion is that markets are a sufficient defence against the exercise of power. But market transactions do not occur in isolation: they are defined by rules, property rights, prior events and social values. This book widens the focus of traditional economic analysis to examine the ways in which people may affect each other within and around markets to give rise to real power. Using conventional neoclassical assumptions about human behaviour, the book begins by developing a workable concept of power, allowing for its presence in a variety of forms and degrees. It examines the conditions under which power would necessarily be absent from market transactions and those under which it would be possible. It considers the decision processes of potential exercisers and subjects of power to determine when the exercise and success of power would be rational.

Suggested Citation

  • Bartlett,Randall, 1989. "Economics and Power," Cambridge Books, Cambridge University Press, number 9780521355629.
    • Handle: RePEc:cup:cbooks:9780521355629
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    Citations

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    Cited by:

    1. Wagner, Alexander K. & Granic, Dura-Georg, 2017. "Tie-Breaking Power in Committees," VfS Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking 168187, Verein für Socialpolitik / German Economic Association.
    2. Paul Bennett, 2000. "Mutuality at a Distance? Risk and Regulation in Marine Insurance Clubs," Environment and Planning A, , vol. 32(1), pages 147-163, January.
    3. James Boyce, 2007. "Is Inequality Bad for the Environment?," Working Papers wp135, Political Economy Research Institute, University of Massachusetts at Amherst.
    4. Sardison, Markus, 2004. "Macht - eine interaktionsökonomische Betrachtung," Discussion Papers 2004-14, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    5. Schmid, A. Allan, 1992. "Institutional Foundations of the Market Economy with Reference to the Transition Process taking Place in Eastern and Central Europe," Staff Paper Series 201152, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    6. James Boyce, 2003. "Inequality and Environmental Protection," Working Papers wp52, Political Economy Research Institute, University of Massachusetts at Amherst.
    7. Timur Kuran, 1993. "The Unthinkable and the Unthought," Rationality and Society, , vol. 5(4), pages 473-505, October.
    8. Amitava Krishna Dutt, 2015. "Uncertainty, power, institutions, and crisis: implications for economic analysis and the future of capitalism," Review of Keynesian Economics, Edward Elgar Publishing, vol. 3(1), pages 9-28, January.
    9. Piero Bini, 2018. "Power and Economics in Italy: From the Social Conflicts of the 1970s to the Euro-Crisis," Palgrave Studies in the History of Economic Thought, in: Manuela Mosca (ed.), Power in Economic Thought, chapter 13, pages 349-381, Palgrave Macmillan.
    10. Harald Wiese, 2009. "Applying cooperative game theory to power relations," Quality & Quantity: International Journal of Methodology, Springer, vol. 43(4), pages 519-533, July.

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