Skip to main content
Fachgebiete
Automobil + Motoren Bauwesen + Immobilien Business IT + Informatik Elektrotechnik + Elektronik Energie + Nachhaltigkeit Finance + Banking Management + Führung Marketing + Vertrieb Maschinenbau + Werkstoffe Versicherung + Risiko
DE
EN
Bücher
Zeitschriften
Themenseiten
Organisationspsychologie Projektmanagement Marketing Smart Manufacturing
Weitere Formate
Podcasts Webinare Technik Webinare Wirtschaft Kongresse Veranstaltungskalender Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
SLX-Digitalkonferenz: Zukunftswerkstatt 2024

Mehr Umsatz mit Top-Kontakten

Am 7. Mai erfahren Sie, wie Vertriebsteams Leadgenerierung, Leadnurturing und Leadstrategien effizient steuern können.
Erweiterte Suche
Anmelden
nach oben
Erschienen in:
Introduction Kapitel lesen Erstes Kapitel lesen

2017 | OriginalPaper | Buchkapitel

Myth 1: America Has Free Markets

verfasst von : Joseph Shaanan

Erschienen in: America's Free Market Myths

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

Myth: In the US the price system determines which products and services will be produced. This is done without coercion through the invisible hand of the market. American markets are mostly competitive or workably competitive and therefore efficient. However, a free market is consistent with any type of competition as long as there is no government coercion.
Reality: Actual markets differ significantly from Adam Smith’s vision of a free market. Key markets lack price competition and are often characterized by private coordination resulting in a misallocation of resources. Other market failures, such as imperfect information are widespread and cast strong doubts about the free market description. Additionally, powerful corporations characterized by numerous in-house operations are hardly the epitome of a free market.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren
Vorheriges Kapitel Introduction
Nächstes Kapitel Myth 2: A Great Wall Separates Politics and the Economy
Fußnoten
1
Oligopoly is an industry or market where a few firms possess large market shares.
 
2
See also Stiglitz (2001); Chang (2011); and Y. Smith (2010).
 
3
Stiglitz (2001).
 
4
Adams and Brock (1986).
 
5
Shaanan (2010).
 
6
See Mueller (1986).
 
7
Shaanan (2010).
 
8
Pryor (2001).
 
9
Hiltzik (2016).
 
10
Shaanan (2010).
 
11
Bork (1966, 1978); Shores (2001); Carlton (2007); Shaanan (2010); and Crouch (2011).
 
12
Crouch (2011).
 
13
Elhauge (2007); Brock (2008).
 
14
Shaanan (2010).
 
15
Shaanan (2010).
 
16
Crouch (2011).
 
17
Greenwood and Stiglitz (1986); Stiglitz (2010).
 
18
Blumberg (1989).
 
19
See Colvin (2001); and Loomis (2001).
 
20
Vertical integration consists of one company producing at two different stages of production (e.g., steel and autos).
 
21
Knowledge@Wharton (2012). See also Worthen et al. (2009).
 
22
Transaction costs are those costs incurred in economic exchange.
 
23
Shaanan (2010).
 
24
Shaanan (2010).
 
25
Golden parachutes refer to company executives being granted generous compensation packages if forced to leave the company in the event of a takeover.
 
26
Krugman (2002b)
 
27
Mirowski (2013).
 
28
Moss (2013).
 
Literatur
Adams, Walter and James W. Brock (1986) The Bigness Complex, New York: Pantheon Books.
Berle, Adolf A. and Gardiner Means (1932) The Modern Corporation and Private Property, New York: MacMillan.
Blumberg, Paul (1989) The Predatory Society, New York: Oxford University Press.
Bork, Robert H. (1966) “Legislative Intent and the Policy of the Sherman Act,” Journal of Law and Economics, Vol. 6 [pp. 7–48].CrossRef
Bork, Robert H. (1978) The Antitrust Paradox, New York: Basic Books.
Brock, James W. (2008) “Market Power, Antitrust Policy, and the Roberts Court,” The Antitrust Bulletin, Vol. 53, No. 1 (Spring) [pp. 179–202].CrossRef
Carlton, Dennis W. (2007) “Does Antitrust Need To Be Modernized?,” Journal of Economic Perspectives, Vol. 21, No. 3 (Summer) [pp. 155–176].CrossRef
Chandler, Alfred D. (1977) The Visible Hand, Cambridge, MA: Belknap Press of Harvard University Press.
Chang, Ha-Joon (2011) 23 Things They Don’t Tell You About Capitalism, New York: Bloomsbury Press. Kindle Edition.
Colvin, Geoffrey (2001) “The Great CEO Pay Heist,” Fortune (June 25) [pp. 64–70].
Crouch, Colin (2011) The Strange Non-Death of Neo-Liberalism, Cambridge, UK: Polity Press.
Curran III, William J. (2001) “Markets, Morals or Wealth? Delusions of a Standardized Antitrust Value?,” Review of Industrial Organization, Vol. 19 [pp. 3–18].CrossRef
Elhauge, Einar (2007) “Harvard, Not Chicago: Which Antitrust School Drives Recent U.S. Supreme Court Decisions?,” Competition Policy International, Vol. 3, No. 2 (Autumn) [pp. 59–77].
Frank, Robert (1999) Luxury Fever, New York: Free Press.
Galbraith, John Kenneth (1985) The New Industrial State (fourth edition), Boston: Houghton Mifflin.
Greenwald, Bruce C. and Joseph E. Stiglitz (1986) “Externalities in Economies with Imperfect Information and Incomplete Markets,” Quarterly Journal of Economics, Vol. 101 (May) [pp. 229–264].CrossRef
Loomis, Carol J. (2001) “This Stuff Is Wrong,” Fortune (June 25) [pp. 72–84].
Mirowski, Philip (2013) Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown, London: Verso Books. Kindle Edition.
Pryor, Frederic L. (2001) “New Trends in US Industrial Concentration,” Review of Industrial Concentration, Vol. 18 [pp. 301–326].CrossRef
Schumpeter, Joseph A. (1962) Capitalism, Socialism and Democracy (third edition), New York: Harper Torchbooks.
Shaanan, Joseph (2010) Economic Freedom and the American Dream, New York: Palgrave MacMillan.CrossRef
Shores, David F. (2001) “Antitrust Decisions and Legislative Intent,” Missouri Law Review, Vol. 66 [pp. 725–777].
Smith, Yves (2010) ECONned: How Unenlightened Self-Interest Undermined Democracy and Corrupted Capitalism, New York: Palgrave-Macmillan. Kindle Edition.
Stiglitz, Joseph E. (2001) Foreword in The Great Transformation, by Karl Polyani, Boston: Beacon Press. Kindle Edition.
Stiglitz, Joseph E. (2010) Freefall: America, Free Markets, and the Sinking of the World Economy, New York: W. W. Norton and Company.
Walker, Rob (2008) Buying In: The Secret Dialogue Between What We Buy and Who We Are, New York: Random House.
Worthen, Ben, Cari Tuna and Justin Scheck (2009) “Companies More Prone to Go Vertical,” Wall Street Journal (November 30).
Mueller, Dennis C. (1986) Profits in the Long Run, New York: Cambridge University Press.CrossRef
Metadaten
Titel
Myth 1: America Has Free Markets
verfasst von
Joseph Shaanan
Copyright-Jahr
2017
Buch
America's Free Market Myths

Print ISBN: 978-3-319-50635-7

Electronic ISBN: 978-3-319-50636-4

Copyright-Jahr: 2017

DOI
https://doi.org/10.1007/978-3-319-50636-4_2