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The Market Way to Riches

Author

Listed:
  • Mario Amendola
  • Jean-Luc Gaffard

Abstract

Mario Amendola and Jean-Luc Gaffard argue that all too often, markets and technology are treated as two magic words that will open the door to a wealth of riches. An increasing number of governments appear to be aiming for a pure market economy in order to reap the benefits of a benevolent technology that promises the most spectacular advances. Both markets and technology can certainly be considered essential economic factors, but which market and what technology? Is the current prevailing view of competition without restraints and privatisation at all costs actually the essence of the market? This book maintains that the dominant view mistakes the relationship between growth and technical change and, as a consequence, the role of the market in this context. The authors argue that once the issue is analysed in the proper light, the usual ingredients of the dominant policy recipe – zero inflation, balanced budgets, privatisations, deregulation of all markets, extreme flexibility – may not actually be the appropriate ones.

Suggested Citation

  • Mario Amendola & Jean-Luc Gaffard, 2006. "The Market Way to Riches," Books, Edward Elgar Publishing, number 4234, February.
  • Handle: RePEc:elg:eebook:4234
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    File URL: http://www.e-elgar.com/shop/isbn/9781845429225
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    Citations

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    Cited by:

    1. Jean-Luc Gaffard, 2013. "Re-insudstrializing the Eurozone," Sciences Po publications 2013-08, Sciences Po.
    2. Jean-Luc Gaffard, 2013. "La macroéconomie à l'épreuve des faits," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(5), pages 57-103.
    3. Mauro Napoletano & Jean-Luc Gaffard, 2010. "Performances et politiques de croissance. Un éclairage empirique à partir d'une étude de l'effet de la taille des pays et nouvelles réflexions théoriques," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 213-248.
    4. Jean-Luc Gaffard & Mauro Napoletano, 2018. "Market disequilibrium, monetary policy, and financial markets: insights from new tools," LEM Papers Series 2018/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. repec:spr:joevec:v:27:y:2017:i:3:d:10.1007_s00191-017-0494-8 is not listed on IDEAS
    6. Amendola, Mario & Gaffard, Jean-Luc, 2014. "Time to build and out-of-equilibrium growth process," Structural Change and Economic Dynamics, Elsevier, vol. 29(C), pages 19-27.
    7. Mario Amendola & Jean-Luc Gaffard & Fabrizio Patriarca, 2017. "Inequality and growth: the perverse relation between the productive and the non-productive assets of the economy," Journal of Evolutionary Economics, Springer, vol. 27(3), pages 531-554, July.
    8. Jean-Paul Fitoussi & Jean-Luc Gaffard & Francesco Saraceno, 2010. "Politiques macroéconomiques et réformes structurelles : bilan et perspectives de la gouvernance économique au sein de l'UE," Working Papers hal-01069413, HAL.
    9. Giovanni Dosi & Jean-Luc Gaffard & Lionel Nesta, 2008. "Schumpeterian themes on industrial evolution, structural change and their microfoundations: an introduction," Industrial and Corporate Change, Oxford University Press, vol. 17(4), pages 601-609, August.
    10. Jean-Luc Gaffard & Mauro Napoletano, 2018. "Hétérogénéité des agents, interconnexions financières et politique monétaire : une approche non conventionnelle," GREDEG Working Papers 2018-34, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
    11. Marletto, Gerardo, 2014. "Car and the city: Socio-technical transition pathways to 2030," Technological Forecasting and Social Change, Elsevier, vol. 87(C), pages 164-178.

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary

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