Towards a Well-Functioning Economy : The Evolution of Economic Systems and Decision-Making

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This volume examines the economy as an evolving entity and develops a new and coherent approach to the classification of economic systems. It demonstrates how the components of a decision making system and the properties of a functioning economy are intrinsically linked. A well-functioning economy is shown to depend chiefly on "correct" decisions. These in turn depend on an efficient decision-making system, an appropriate mix of markets, organizations and governments, and an optimal combination of the four enforcing mechanisms of a modern economic system: custom, command, competition and cooperation. Although this book is primarily about economics, non-economic considerations, including political and ethical, are brought into the analysis. The most important decisions in life include choices between economic and non-economic issues. Hence, one of the aims of this book is to provide a conceptual framework to cope with these choices.

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'It is an ambitious attempt to define different sorts of societies from the point of view of the roles of their principal decision-makers, to design an optimal society coming from the same point of view and to point out the pitfalls on the way to establishing such a society. Haddad is a humane and democratic person and his ideal society is an admirable one. He has thought long and hard about both the pitfalls and the advantages of what he proposes. He provides a novel framework within which to attempt both the actual and potential. Haddad is aware that hard-nosed cynics will sneer at him and his ideas but he is also an optimist who believes that good sense and good will may flourish in an appropriate environment. Certainly his book should be in the public domain in a democratic society for it provides the basis for serious and fundamental discussion of ethics, economics and politics.' -- G.C. Harcourt, University of New South Wales, Australia

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List of Tables	p. vi
Preface	p. vii
Introduction	p. 1
Economic Systems and Decision-Making
Structures of Decision-making	p. 11
Decision-making Procedures	p. 31
Structures of Information Flows	p. 50
Decision-making Criteria	p. 70
Types and Structures of Incentive	p. 91
The Evolution of Economic Systems
The Customary Economy	p. 115
The Command Economy	p. 136
The Competitive Economy	p. 164
The Composite Economy	p. 187
Towards a Well-Functioning Economic System
The Principles of a Well-designed Decision-making System	p. 209
The Properties of a Well-functioning Economy	p. 229
The Decision-making Process of a Well-functioning Economy	p. 249
Concluding Notes on the Problems of Transition to a Well-functioning Economy	p. 266
References	p. 275
Index	p. 286
Table of Contents provided by Syndetics. All Rights Reserved.

Towards a Well-Functioning Economy : The Evolution of Economic Systems and Decision-Making

Industry Reviews

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How to return your order

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You Can Find This Book In

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