front cover of Continuous Improvement
Continuous Improvement
Quality Control Circles in Japanese Industry
Paul Lillrank; Noriaki Kano
University of Michigan Press, 1989
Quality Control Circles (QCCs) are small groups of workers from the same workshop, which meet, often on their own time, to discuss ways to improve the quality of their work. They are supported by management; the circles and the support structure together are called Quality Control Circle (QCC) activity. The phenomenon is widespread in Japan: as of December 1987, 264,899 circles had been registered with more than two million members. QCC activities have spread to more than fifty countries worldwide and can be considered the most famous Japanese organizational innovation to date. The Japanese QCC, in its contribution to business application and theory, may rival the discovery of the informal organization of Hawthorne Studies frame.
The Japanese QCC movement has achieved quite impressive results, which are well described in the Japanese-language literature. Of concern, however, is what sustains and causes the phenomenon. The existing literature is quite thin on these mechanisms and forces.
Our aim in this research is to develop a systematic model of the organizational nature and management of Japanese QCC activities. Quality engineering and group dynamics are not part of this study; the focus is on the supporting arrangements, not on what happens within a circle. [1]
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Contours of the Illiberal State
Governing Circulation in the Smart Economy
Edited by Boris Vormann and Christian Lammert
Campus Verlag, 2019
The post-Cold War era was marked by the emergence of unprecedented new networks of international private trade, cooperation, and circulation of goods that promised to render the state nearly obsolete—at least in theory. The essays collected in this book dissect the notions of this so-called “smart economy,” revealing the crucial role that government interventions still play in facilitating the production and the global flow of goods. The contributors focus particularly on the role played by the United States, often incorrectly assumed to be the most liberal and least interventionist in the global order. More than a mere market fixer, the United States has long assumed an outsized position in expediting the global circulation of goods through its supply chains and communication channels. Drawing from such diverse fields as political science, urban sociology, and cultural studies, Contours of the Illiberal State takes a broad interdisciplinary look at how nations became active market enablers.
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Contra Keynes and Cambridge
Essays, Correspondence
F. A. Hayek
University of Chicago Press, 1995
In 1931, when the young F. A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior, and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades. Their extensive exchange lasted until Keynes's death in 1946, and is reprinted in its entirety in this latest volume of The Collected Works of F. A. Hayek.

When the journal Economica published a review of Keynes's Treatise on Money by Hayek in 1931, Keynes's response consisted principlally of an attack on Hayek's own work on monetary theory, Prices and Production. Conducted almost entirely in economics journals, the battle that followed revealed two very different responses to a world in economic crisis. Keynes sought a revision of the liberal political order—arguing for greater government intervention in the hope of protecting against the painful fluctuations of the business cycle. Hayek instead warned that state involvement would cause irreparable damage to the economy.

This volume begins with Hayek's 1963 reminiscence "The Economics of the 1930s as Seen from London," which has never been published before. The articles, letters, and reviews from journals published in the 1930s are followed by Hayek's later reflections on Keynes's work and influence. The Introduction by Bruce Caldwell puts the debate in context, providing detailed information about the economists in Keynes's circle at Cambridge, their role in the acceptance of his ideas, and the ways in which theory affected policy during the interwar period.

Caldwell calls the debate between Hayek and Keynes "a battle for the minds of the rising generation of British-trained economists." There is no doubt that Keynes won the battle during his lifetime. Now, when many of Hayek's ideas have been vindicated by the collapse of collectivist economies and the revival of the free market around the world, this book clarifies Hayek's work on monetary theory—formed in heated opposition to Keynes—and illuminates his efforts to fight protectionism in an age of economic crisis.

F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of classical liberal thought in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.
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The Control of Resources
Partha Dasgupta
Harvard University Press, 1982
Most books in environmental economics either employ complex mathematical models or resort to a recital of case studies. What makes this new book by a leading expert in resource economics so useful is the careful blend of theory and practice. Terms and techniques are explained fully, and only a modest technical background in economics and mathematics is assumed. Partha Dasgupta examines the problems of resource management and pollution control within a common framework and relates them to issues in development planning. He also draws extensively on environmental literature to which students and policymakers seldom have access. Special attention is given to critical issues in environmental decisionmaking, such as externalities, pricing, cost-benefit analysis, uncertainty, and optimization. The author also uses real-world examples to illustrate difficult concepts.
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The Control Revolution
Technological and Economic Origins of the Information Society
James Beniger
Harvard University Press, 1986

Why do we find ourselves living in an Information Society? How did the collection, processing, and communication of information come to play an increasingly important role in advanced industrial countries relative to the roles of matter and energy? And why is this change recent—or is it?

James Beniger traces the origin of the Information Society to major economic and business crises of the past century. In the United States, applications of steam power in the early 1800s brought a dramatic rise in the speed, volume, and complexity of industrial processes, making them difficult to control. Scores of problems arose: fatal train wrecks, misplacement of freight cars for months at a time, loss of shipments, inability to maintain high rates of inventory turnover. Inevitably the Industrial Revolution, with its ballooning use of energy to drive material processes, required a corresponding growth in the exploitation of information: the Control Revolution.

Between the 1840s and the 1920s came most of the important information-processing and communication technologies still in use today: telegraphy, modern bureaucracy, rotary power printing, the postage stamp, paper money, typewriter, telephone, punch-card processing, motion pictures, radio, and television. Beniger shows that more recent developments in microprocessors, computers, and telecommunications are only a smooth continuation of this Control Revolution. Along the way he touches on many fascinating topics: why breakfast was invented, how trademarks came to be worth more than the companies that own them, why some employees wear uniforms, and whether time zones will always be necessary.

The book is impressive not only for the breadth of its scholarship but also for the subtlety and force of its argument. It will be welcomed by sociologists, economists, historians of science and technology, and all curious in general.

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Controlling Crime
Strategies and Tradeoffs
Edited by Philip J. Cook, Jens Ludwig, and Justin McCrary
University of Chicago Press, 2011

 Criminal justice expenditures have more than doubled since the 1980s, dramatically increasing costs to the public. With state and local revenue shortfalls resulting from the recent recession, the question of whether crime control can be accomplished either with fewer resources or by investing those resources in areas other than the criminal justice system is all the more relevant.

Controlling Crime considers alternative ways to reduce crime that do not sacrifice public safety. Among the topics considered here are criminal justice system reform, social policy, and government policies affecting alcohol abuse, drugs, and private crime prevention. Particular attention is paid to the respective roles of both the private sector and government agencies. Through a broad conceptual framework and a careful review of the relevant literature, this volume provides insight into the important trends and patterns of some of the interventions that may be effective in reducing crime.
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The Conundrum of Russian Capitalism
The Post-Soviet Economy in the World System
Ruslan Dzarasov
Pluto Press, 2013

The Conundrum of Russian Capitalism looks at the nature of Russian capitalism following the fall of the Soviet Union, showing how the system originated in the degenerated Soviet bureaucracy and the pressures of global capital. Ruslan Dzarasov provides a detailed analysis of Russian corporate governance, labour practices and investment strategies.

By comparing the practices of Russian companies to the typical models of corporate governance and investment behaviour of big firms in the West, Dzarasov sheds light on the relationship between the core and periphery of the capitalist world-system.

This groundbreaking study shows that Russia's new capitalism is not a break with the country's Stalinist past, but in fact the continuation of that tradition.

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Coping With Poverty
The Social Contexts of Neighborhood, Work, and Family in the African-American Community
Sheldon Danziger and Ann Chih Lin, Editors
University of Michigan Press, 2000
Conservatives often condemn the poor, particularly African-Americans, for having children out of wedlock, joblessness, dropping out of school, or tolerating crime. Liberals counter that, with more economic opportunity, the poor differ little from the nonpoor in these areas. In answer to both, Coping with Poverty points to the survival strategies of the poor and their multiple roles as parents, neighbors, relatives, and workers. Their attempts to balance multiple obligations occur within a context of limited information, social support, and resources. Their decisions may not always be the wisest, but they "make sense" in context.
Contributors use qualitative research methods to explore the influence of community, workplace, and family upon strategies for dealing with poverty. Promising young scholars delve into poor black inner-city neighborhoods and suburbs and middle-income black urban communities, exploring experiences at all stages of life, including high-school students, young parents, employed older men, and unemployed mothers. Two chapters discuss the role of qualitative research in poverty studies, specifically examining how this research can be used to improve policymaking.
The volume's contribution is in the diversity of experiences it highlights and in how the general themes it illustrates are similar across different age/gender groups. The book also suggests an approach to policymaking that seeks to incorporate the experiences and the needs of the poor themselves, in the hope of creating more successful and more relevant poverty policy. It is especially useful for undergraduate and graduate courses in sociology, public policy, urban studies, and African-American Studies, as its scope makes it THE basic reader of qualitative studies of poverty.
Sheldon Danziger is Director of the Poverty Research and Tranining Center and Professor of Social Work and Public Policy, University of Michigan. Ann Chih Lin is Assistant Professor of Political Science and Public Policy, University of Michigan.
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Copyhold, Equity, and the Common Law
Charles Montgomery Gray
Harvard University Press

This book has a threefold purpose: to date and explain the beginning of legal protection of copyholders in courts of law and equity; to reconstruct and explain the first stage in the creation of a body of law relating to copyholds; and to provide a case study in sixteenth-century jurisprudence of a sort that may tend to illuminate larger questions about the judicial process in that period. Mr. Gray has based his book largely on manuscript law reports never before used.

Copyhold, and its ancestor, villein tenure, were originally not protected by the central law courts in England, with the result that the tenant was at the mercy of his lord. There has been considerable uncertainty and dispute as to when this state of affairs was changed. This book argues that the Chancery possibly did not extend protection to tenants until the end of the fifteenth century, and that the common law did not provide protection until the middle of the sixteenth century. Mr. Gray explains why and how the change was effected. Since the extension of common-law protection brought many collateral issues before the courts, the judges had to write a new chapter in the law of property. The authordescribes the perplexities they faced and the changing techniques used to meet them.

This history of a new field of law developed in the Elizabethan period has implications for general questions on the judicial process, such as the use made of precedents, the methods of interpreting statutes, and the character of legal analysis. An introduction provides the Medieval background and explains the technical language and fundamental concepts necessary for understanding the specific studies.

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The Corporate Economy
Growth, Competition, and Innovative Potential
Robin Marris and Adrian Wood
Harvard University Press, 1971
The Corporate Economy, a collective work by some of the world’s most distinguished theoretical economists, offers analyses of the workings of an economy dominated by large corporations. The book is concerned with the theory of the growth of the firm, with competition between divisions of corporations in particular product markets, and with relationships between the company and the stock market. It presents discussions of the internal organization of diversified corporations and the effects of this organization on the corporations’ economic behavior as well as on the relations between the corporate sector and the small-scale or “competitive” sector of the economy. Three empirical appendices, which include some previously unpublished material, survey the literature on the size, growth, and profitability of firms and on diversification, merger, and research expenditures.
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Corporate Sovereignty
Law and Government under Capitalism
Joshua Barkan
University of Minnesota Press, 2013

Refinery explosions. Accounting scandals. Bank meltdowns. All of these catastrophes—and many more—might rightfully be blamed on corporations. In response, advocates have suggested reforms ranging from increased government regulation to corporate codes of conduct to stop corporate abuses. Joshua Barkan writes that these reactions, which view law as a limit on corporations, misunderstand the role of law in fostering corporate power.

In Corporate Sovereignty, Barkan argues that corporate power should be rethought as a mode of political sovereignty. Rather than treating the economic power of corporations as a threat to the political sovereignty of states, Barkan shows that the two are ontologically linked. Situating analysis of U.S., British, and international corporate law alongside careful readings in political and social theory, he demonstrates that the Anglo-American corporation and modern political sovereignty are founded in and bound together through a principle of legally sanctioned immunity from law. The problems that corporate-led globalization present for governments result not from regulatory failures as much as from corporate immunity that is being exported across the globe.

For Barkan, there is a paradox in that corporations, which are legal creations, are given such power that they undermine the sovereignty of states. He notes that while the relationship between states and corporations may appear adversarial, it is in fact a kind of doubling in which state sovereignty and corporate power are both conjoined and in conflict. Our refusal to grapple with the peculiar nature of this doubling means that some of our best efforts to control corporations unwittingly reinvest the sovereign powers they oppose.

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Corporate Takeovers
Causes and Consequences
Edited by Alan J. Auerbach
University of Chicago Press, 1988
The takeover boom that began in the mid-1980s has exhibited many phenomena not previously observed, such as hostile takeovers and takeover defenses, a widespread use of cash as a means of payment for targeted firms, and the acquisitions of companies ranking among the largest in the country. With the aim of more fully understanding the implications of such occurances, contributors to this volume consider a broad range of issues as they analyze mergers and acquisitions and study the takeoveer process itself.
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The Cost of Inaction
Case Studies from Rwanda and Angola
Sudhir Anand, Chris Desmond, Habtamu Fuje, and Nadejda Marques
Harvard University Press, 2012
This book is motivated by the idea that the cost of inaction can be much greater than the cost of action. Inaction can lead to serious negative consequences—for individuals, the economy, and society. The consequences of a failure to reduce extreme poverty, for example, typically include malnutrition, preventable morbidity, premature mortality, incomplete basic education, and other human and social development costs. In this volume, the authors seek to clarify exactly what is meant by “cost of inaction.” They develop a methodology to account for the consequences and estimate the costs of a failure to respond to the needs of children and their families. Their conceptual framework emphasizes the need to select appropriate actions against which inaction is evaluated. The authors present the results of applying the cost of inaction (COI) approach to six case studies from Rwanda and Angola. The case studies highlight important differences between the COI approach and benefit-cost analysis as it is traditionally implemented.
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Cost-Benefit Analysis
Economic, Philosophical, and Legal Perspectives
Edited by Matthew D. Adler and Eric A. Posner
University of Chicago Press, 2001
Cost-benefit analysis is a widely used governmental evaluation tool, though academics remain skeptical. This volume gathers prominent contributors from law, economics, and philosophy for discussion of cost-benefit analysis, specifically its moral foundations, applications and limitations.

This new scholarly debate includes not only economists, but also contributors from philosophy, cognitive psychology, legal studies, and public policy who can further illuminate the justification and moral implications of this method and specify alternative measures.

These articles originally appeared in the Journal of Legal Studies.

Contributors:
- Matthew D. Adler - Gary S. Becker
- John Broome - Robert H. Frank
- Robert W. Hahn - Lewis A. Kornhauser
- Martha C. Nussbaum - Eric A. Posner
- Richard A. Posner - Henry S. Richardson
- Amartya Sen - Cass R. Sunstein
- W. Kip Viscusi
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front cover of The Costs and Benefits of Price Stability
The Costs and Benefits of Price Stability
Edited by Martin Feldstein
University of Chicago Press, 1999
In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability?

In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.

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Creating Modern Capitalism
How Entrepreneurs, Companies, and Countries Triumphed in Three Industrial Revolutions
Thomas K. McCraw
Harvard University Press, 1997
What explains the national economic success of the United States, Britain, Germany, and Japan? What can be learned from the long-term championship performances of leading business firms in each country? How important were specific innovations by individual entrepreneurs? And in the end, what is the true nature of capitalist development?The Pulitzer Prize–winning historian Thomas K. McCraw and his coauthors present penetrating answers to these questions. Creating Modern Capitalism is the first book to explain for a broad audience the interconnections among technological innovation, management science, the power of entrepreneurship, and national economic growth. The authors approach each question from a comparative framework and with a unique triple focus on national economic systems, particular companies, and individual business leaders.Above all, the book focuses on how specific entrepreneurs influenced the economic success of their countries: Josiah Wedgwood and Henry Royce in Britain; August Thyssen and Georg von Siemens in Germany; Henry Ford, Alfred Sloan, and the two Thomas J. Watsons in the United States; Sakichi Toyoda, Masatoshi Ito, and Toshifumi Suzuki in Japan.The product of a three-year collaborative effort at the Harvard Business School, the book combines cutting-edge scholarship with a finely tuned sense of the art of management. It will engage general readers as well as those with a special interest in entrepreneurship and the evolution of national business systems.
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The Creation and Destruction of Value
The Globalization Cycle
Harold James
Harvard University Press, 2012

Harold James examines the vulnerability and fragility of processes of globalization, both historically and in the present. This book applies lessons from past breakdowns of globalization—above all in the Great Depression—to show how financial crises provoke backlashes against global integration: against the mobility of capital or goods, but also against flows of migration. By a parallel examination of the financial panics of 1929 and 1931 as well as that of 2008, he shows how banking and monetary collapses suddenly and radically alter the rules of engagement for every other type of economic activity.

Increased calls for state action in countercyclical fiscal policy bring demands for trade protection. In the open economy of the twenty-first century, such calls are only viable in very large states—probably only in the United States and China. By contrast, in smaller countries demand trickles out of the national container, creating jobs in other countries. The international community is thus paralyzed, and international institutions are challenged by conflicts of interest. The book shows the looming psychological and material consequences of an interconnected world for people and the institutions they create.

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Creative Industries
Contracts between Art and Commerce
Richard E. Caves
Harvard University Press, 2000

This book explores the organization of creative industries, including the visual and performing arts, movies, theater, sound recordings, and book publishing. In each, artistic inputs are combined with other, "humdrum" inputs. But the deals that bring these inputs together are inherently problematic: artists have strong views; the muse whispers erratically; and consumer approval remains highly uncertain until all costs have been incurred.

To assemble, distribute, and store creative products, business firms are organized, some employing creative personnel on long-term contracts, others dealing with them as outside contractors; agents emerge as intermediaries, negotiating contracts and matching creative talents with employers. Firms in creative industries are either small-scale pickers that concentrate on the selection and development of new creative talents or large-scale promoters that undertake the packaging and widespread distribution of established creative goods. In some activities, such as the performing arts, creative ventures facing high fixed costs turn to nonprofit firms.

To explain the logic of these arrangements, the author draws on the analytical resources of industrial economics and the theory of contracts. He addresses the winner-take-all character of many creative activities that brings wealth and renown to some artists while dooming others to frustration; why the "option" form of contract is so prevalent; and why even savvy producers get sucked into making "ten-ton turkeys," such as Heaven's Gate. However different their superficial organization and aesthetic properties, whether high or low in cultural ranking, creative industries share the same underlying organizational logic.

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Critically Capitalist
The Spirit of Asset Capitalism in South Korea
Bohyeong Kim
University of Michigan Press, 2025
Critically Capitalist presents an ethnography of South Korea’s asset seekers, including amateur stock investors, real estate enthusiasts, and money coaches, to demonstrate how financialized asset capitalism is sustained. As they hunt for profit margins, rent, and dividends, they simultaneously critique capitalism and posit their pursuit of assets as a form of resistance. Bohyeong Kim theorizes this new spirit of capitalism in South Korea as “critical capitalism,” arguing that it reflects the popular discontent with both national development and financial neoliberalism. As a paradoxical critique and legitimation, Bohyeong Kim argues that critical capitalism valorizes the capitalist economy not through a triumphant narrative, but by highlighting the emotional wounds, destroyed communities, and oppressive tactics of modern capitalism. 

Drawing on multi-sited ethnography and in-depth interviews with a broad community of aspiring millionaires, Critically Capitalist illuminates how contemporary capitalism thrives by channeling discontent into financial and real estate markets, which in turn, has cemented critical capitalism as the cultural and affective backbone of South Korea’s economy.
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Cross-National Comparative Research Using Panel Surveys
Special Issue of Journal of Human Resources 38:2 (Spring 2003)
Edited by James P. Smith, Frank Stafford, and James R. Walker
University of Wisconsin Press, 2010

This special issue revises and expands on presentations given at a conference on comparative research using international panel surveys held in Ann Arbor, Michigan. Five of the articles explicitly or implicitly examine international differences in savings behavior and wealth accumulation. The final two articles use international comparisons to assess the status of young children.

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The Cult of Statistical Significance
How the Standard Error Costs Us Jobs, Justice, and Lives
Stephen T. Ziliak and Deirdre N. McCloskey
University of Michigan Press, 2010

“McCloskey and Ziliak have been pushing this very elementary, very correct, very important argument through several articles over several years and for reasons I cannot fathom it is still resisted. If it takes a book to get it across, I hope this book will do it. It ought to.”

—Thomas Schelling, Distinguished University Professor, School of Public Policy, University of Maryland, and 2005 Nobel Prize Laureate in Economics

“With humor, insight, piercing logic and a nod to history, Ziliak and McCloskey show how economists—and other scientists—suffer from a mass delusion about statistical analysis. The quest for statistical significance that pervades science today is a deeply flawed substitute for thoughtful analysis. . . . Yet few participants in the scientific bureaucracy have been willing to admit what Ziliak and McCloskey make clear: the emperor has no clothes.”

—Kenneth Rothman, Professor of Epidemiology, Boston University School of Health

The Cult of Statistical Significance shows, field by field, how “statistical significance,” a technique that dominates many sciences, has been a huge mistake. The authors find that researchers in a broad spectrum of fields, from agronomy to zoology, employ “testing” that doesn’t test and “estimating” that doesn’t estimate. The facts will startle the outside reader: how could a group of brilliant scientists wander so far from scientific magnitudes? This study will encourage scientists who want to know how to get the statistical sciences back on track and fulfill their quantitative promise. The book shows for the first time how wide the disaster is, and how bad for science, and it traces the problem to its historical, sociological, and philosophical roots.

Stephen T. Ziliak is the author or editor of many articles and two books. He currently lives in Chicago, where he is Professor of Economics at Roosevelt University. Deirdre N. McCloskey, Distinguished Professor of Economics, History, English, and Communication at the University of Illinois at Chicago, is the author of twenty books and three hundred scholarly articles. She has held Guggenheim and National Humanities Fellowships. She is best known for How to Be Human* Though an Economist (University of Michigan Press, 2000) and her most recent book, The Bourgeois Virtues: Ethics for an Age of Commerce (2006).

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Cultural Economies Past and Present
By Rhoda H. Halperin
University of Texas Press, 1994

When anthropologists and other students of culture want to compare different societies in such areas as the organization of land, labor, trade, or barter, they often discover that individual researchers use these concepts inconsistently and from a variety of theoretical approaches, so that data from one society cannot be compared with data from another.

In this book, Rhoda Halperin offers an analytical tool kit for studying economic processes in all societies and at all times. She uniquely organizes the book around key concepts: economy, ecology, equivalencies, householding, storage, and time and the economy. These concepts are designed to facilitate the understanding of similarities, differences, and changes between contemporary and past economies. While this is not only a "how-to" book or handbook, it can be used as such. It will be of great value to scholars and students of archaeology and history, as well as to ethnographers and economists.

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Culture and Economy
The Shaping of Capitalism in Eastern Asia
Timothy Brook and Hy Van Luong, Editors
University of Michigan Press, 1999
In recent years, most of the economies of Eastern Asia have been absorbed into global capitalism. Capitalism has transformed these economies, but the process has not been one-way. The cultures of Eastern Asia have in turn shaped how capitalism organizes labor, capital, and markets in ways that could not have been anticipated even ten years ago.
On the basis of rich empirical analyses of East and Southeast Asia, and with theoretical insights from different approaches in the social sciences, Culture and Economy addresses these issues in both macroscopic and microscopic terms. Specific topics discussed range from the use and reinvention of Confucian and Islamic legacies in South Korea and Malaysia to promote a particular vision of the economy, to the role of family- and network-structured firms and the reliance on trust-based personal networks in Southeast Asia, to the cultures of labor and management in Chinese village enterprises and Vietnamese ceramics firms, as well as in South Korean export processing zones and the current Chinese labor market.
These careful case studies suggest that it is inevitable that Eastern Asia will shape, even remake, capitalism into a system of production and consumption beyond its original definition.
Timothy Brook is Professor of History, Stanford University. Hy V. Luong is Professor of Anthropology, University of Toronto.
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