Uncertainty, Instability, and the Control of Markets
Grounded 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.
|Date of creation:||01 Jul 2013|
|Date of revision:|
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- Lee,Frederic S., 1999.
"Post Keynesian Price Theory,"
Cambridge University Press, number 9780521328708, November.
- Frederic S. Lee, 2002. "Theory creation and the methodological foundation of Post Keynesian economics," Cambridge Journal of Economics, Oxford University Press, vol. 26(6), pages 789-804, November.
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- Mayhew, Anne, 1998. "On the Difficulty of Evolutionary Analysis," Cambridge Journal of Economics, Oxford University Press, vol. 22(4), pages 449-61, July.
- Peter B. Meyer, 1986. "The Corporate Person and Social Control: Responding to Deregulation," Review of Radical Political Economics, Union for Radical Political Economics, vol. 18(3), pages 65-84, September.
- Paddy Ireland, 2010. "Limited liability, shareholder rights and the problem of corporate irresponsibility," Cambridge Journal of Economics, Oxford University Press, vol. 34(5), pages 837-856.
- J. A. Kregel, 1980. "Markets and Institutions as Features of a Capitalistic Production System," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 3(1), pages 32-48, October.
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