Economists investigate the workings of markets and tend to set ethical questions aside. Theologians often dismiss economics, losing insights into the influence of market incentives on individual behavior. Mary L. Hirschfeld bridges this gap by showing how a humane economy can lead to the good life as outlined in the thought of St. Thomas Aquinas.
Roger Fry, a core member of the Bloomsbury Group, was involved with all aspects of the art market as artist, critic, curator, historian, journalist, advisor to collectors, and gallery operator. He is especially remembered as the person who introduced postimpressionist art to Britain.
Reprinted in this volume are seventeen of Fry's works on commerce in art. Although he had no formal training in economics, Fry addressed the art market as a modern economist might do. It is therefore fitting that his writings receive here an original interpretation from the perspective of a modern economist, Craufurd D. Goodwin. Goodwin explores why Fry's work is both a landmark in the history of cross-disciplinary thought and a source of fresh insights into a wide range of current policy questions.
The new writings included contain Fry's most important contributions to theory, history, and debates over policy as he explored the determinants of the supply of art, the demand for art, and the art market institutions that facilitate exchange. His ideas and speculations are as stimulating and provocative today as when they were written.
"A fascinating selection of essays by one of the twentieth century's most thoughtful and stimulating critics. Goodwin's introduction sets the stage beautifully, providing useful links to Veblen and Keynes." --D. E. Moggridge, University of Toronto
"Art and the Market uncovers new connections between aesthetics and art in the Bloomsbury Group. . . . Goodwin adds significantly to the understanding of cultural economics in the work of Fry himself as well as J. M. Keynes and even Leonard and Virginia Woolf." --S. P. Rosenbaum, University of Toronto
"All those interested in the arts and economics, and their connections, will be delighted by this collection, as will be students of Bloomsbury." --Peter Stansky, Stanford University
Craufurd D. Goodwin is James B. Duke Professor of Economics, Duke University.
Between Jesus and the Market looks at the appeal of the Christian right-wing movement in contemporary American politics and culture. In her discussions of books and videotapes that are widely distributed by the Christian right but little known by mainstream Americans, Linda Kintz makes explicit the crucial need to understand the psychological makeup of born-again Christians as well as the sociopolitical dynamics involved in their cause. She focuses on the role of religious women in right-wing Christianity and asks, for example, why so many women are attracted to what is often seen as an antiwoman philosophy. The result, a telling analysis of the complexity and appeal of the "emotions that matter" to many Americans, highlights how these emotions now determine public policy in ways that are increasingly dangerous for those outside familiarity’s circle. With texts from such organizations as the Christian Coalition, the Heritage Foundation, and Concerned Women for America, and writings by Elizabeth Dole, Newt Gingrich, Pat Robertson, and Rush Limbaugh, Kintz traces the usefulness of this activism for the secular claim that conservative political economy is, in fact, simply an expression of the deepest and most admirable elements of human nature itself. The discussion of Limbaugh shows how he draws on the skepticism of contemporary culture to create a sense of absolute truth within his own media performance—its truth guaranteed by the market. Kintz also describes how conservative interpretations of the Holy Scriptures, the U.S. Constitution, and the Declaration of Independence have been used to challenge causes such as feminism, women’s reproductive rights, and gay and lesbian rights. In addition to critiquing the intellectual and political left for underestimating the power of right-wing grassroots organizing, corporate interests, and postmodern media sophistication, Between Jesus and the Market discusses the proliferation of militia groups, Christian entrepreneurship, and the explosive growth and "selling" of the Promise Keepers.
Each year, North Americans spend as much money fixing up their homes as they do buying new ones. This obsession with improving our dwellings has given rise to a multibillion-dollar industry that includes countless books, consumer magazines, a cable television network, and thousands of home improvement stores.
Building a Market charts the rise of the home improvement industry in the United States and Canada from the end of World War I into the late 1950s. Drawing on the insights of business, social, and urban historians, and making use of a wide range of documentary sources, Richard Harris shows how the middle-class preference for home ownership first emerged in the 1920s—and how manufacturers, retailers, and the federal government combined to establish the massive home improvement market and a pervasive culture of Do-It-Yourself.
Deeply insightful, Building a Market is the carefully crafted history of the emergence and evolution of a home improvement revolution that changed not just American culture but the American landscape as well.
Scholars have long assumed that industrialization and the growth of modern cities signaled a decline of religious practice among urban dwellers - that urban commercial culture weakened traditional religious ties by luring the faithful away from their devotional practice. Spanning many disciplines, the essays in this volume challenge this notion of the "secular city" and examine how members of metropolitan houses of worship invented fresh expressions of religiosity by incorporating consumer goods, popular entertainment, advertising techniques, and marketing into their spiritual lives. Faith in the Market explores phenomena from Salvation Army "slum angels" to the "race movies" of the mid-twentieth century, from Catholic teens' modest dress crusades to Black Muslim artists. The contributors-integrating gender, performance, and material culture studies into their analyses-reveal the many ways in which religious groups actually embraced commercial culture to establish an urban presence. Although the city streets may have proved inhospitable to some forms of religion, many others, including evangelicalism, Catholicism, and Judaism, assumed rich and complex forms as they developed in vital urban centers.
Few other economists have been read and cited as often as R.H. Coase has been, even though, as he admits, "most economists have a different way of looking at economic problems and do not share my conception of the nature of our subject." Coase's particular interest has been that part of economic theory that deals with firms, industries, and markets—what is known as price theory or microeconomics. He has always urged his fellow economists to examine the foundations on which their theory exists, and this volume collects some of his classic articles probing those very foundations. "The Nature of the Firm" (1937) introduced the then-revolutionary concept of transaction costs into economic theory. "The Problem of Social Cost" (1960) further developed this concept, emphasizing the effect of the law on the working of the economic system. The remaining papers and new introductory essay clarify and extend Coarse's arguments and address his critics.
"These essays bear rereading. Coase's careful attention to actual institutions not only offers deep insight into economics but also provides the best argument for Coase's methodological position. The clarity of the exposition and the elegance of the style also make them a pleasure to read and a model worthy of emulation."—Lewis A. Kornhauser, Journal of Economic Literature
Ronald H. Coase was awarded the Nobel Prize in Economic Science in 1991.
From organic produce and clothing to socially conscious investing and eco-tourism, the lifestyles of health and sustainability, or LOHAS, movement encompasses diverse products and practices intended to contribute to a more sustainable lifestyle for people and the planet. In The Gospel of Sustainability, Monica M. Emerich explores the contemporary spiritual expression of this green cultural shift at the confluence of the media and the market.
This is the first book to qualitatively study the LOHAS marketplace and the development of a discourse of sustainability of the self and the social and natural worlds. Emerich draws on myriad sources related to the notions of mindful consumption found throughout the LOHAS marketplace, including not just products and services but marketing materials, events, lectures, regulatory policies, and conversations with leaders and consumers. These disparate texts, she argues, universally project a spiritual message about personal and planetary health that is in turn reforming capitalism by making consumers more conscious.
Losing a job has always been understood as one of the most important causes of downward social mobility in modern societies. And it's only gotten worse in recent years, as the weakening position of workers has made re-entering the labour market even tougher. The Impact of Losing Your Job builds on findings from life course sociology to show clearly just what effects job loss has on income, family life, and future prospects. Key to Ehlert's analysis is a comparative look at the United States and Germany that enables him to show how different approaches to welfare state policies can ameliorate the effects of job loss-but can at the same time make labour insecurity more common.
If most Americans accept the notion that the market is the most efficient means to distribute resources, why should body parts be excluded?
Each year thousands of people die waiting for organ transplants. Many of these deaths could have been prevented were it not for the almost universal moral hand-wringing over the concept of selling human organs. Kidney for Sale by Owner, now with a new preface, boldly deconstructs the roadblocks that are standing in the way of restoring health to thousands of people. Author and bioethicist Mark Cherry reasserts the case that health care could be improved and lives saved by introducing a regulated transplant organs market rather than by well-meant, but misguided, prohibitions.
In addition to his groundbreaking contributions to pure economic theory, F. A. Hayek also closely examined the ways in which the knowledge of many individual market participants could culminate in an overall order of economic activity. His attempts to come to terms with the “knowledge problem” thread through his career and comprise the writings collected in the fifteenth volume of the University of Chicago Press’s Collected Works of F. A. Hayek series.
The Market and Other Orders brings together more than twenty works spanning almost forty years that consider this question. Consisting of speeches, essays, and lectures, including Hayek’s 1974 Nobel lecture, “The Pretense of Knowledge,” the works in this volume draw on a broad range of perspectives, including the philosophy of science, the physiology of the brain, legal theory, and political philosophy. Taking readers from Hayek’s early development of the idea of spontaneous order in economics through his integration of this insight into political theory and other disciplines, the book culminates with Hayek’s integration of his work on these topics into an overarching social theory that accounts for spontaneous order in the variety of complex systems that Hayek studied throughout his career.
Edited by renowned Hayek scholar Bruce Caldwell, who also contributes a masterly introduction that provides biographical and historical context, The Market and Other Orders forms the definitive compilation of Hayek’s work on spontaneous order.
The Market as God
Harvey Cox Harvard University Press, 2016 Library of Congress HG226.C69 2016 | Dewey Decimal 174.4
The Market has deified itself, according to Harvey Cox’s brilliant exegesis. And all of the world’s problems—widening inequality, a rapidly warming planet, the injustices of global poverty—are consequently harder to solve. Only by tracing how the Market reached its divine status can we hope to restore it to its proper place as servant of humanity.
How do market forces influence the media in China? How does the Party both introduce and try to contain the market's influence? How do commercial imperatives both accommodate and challenge Party control?
Yuezhi Zhao interviewed a wide range of scholars, media administrators, and media professionals to answer these and other questions. Working in China in 1994 and 1995, she monitored media content, carried out extensive documentary research in Beijing, and held off-the-record meetings with Chinese media insiders. What she found informs an in-depth look at the intertwining nature of the Communist Party and the news media in China, how they affect each other, and what the future might hold for each.
A rare on-the-ground portrait, Media, Market, and Democracy in China is must reading for scholars, media and business professionals, and policymakers who need to understand what happened to China and its mass media during a period of dynamic growth and change.
Music In The Market
Don Cusic University of Wisconsin Press, 1996 Library of Congress ML3790.C87 1996 | Dewey Decimal 338.47780973
Cusic examines the music business in the context of popular culture, the ways that popular music is disseminated in the American commercial market, the money flow, talent acquisition and development, artwork and promotion, and the strategies of multinational recording companies as they market music to consumers through media and retailers. He also discusses the marketing of specialty music—classical, gospel, jazz, bluegrass, rap, and folk, by small independent labels.
Anthony Fontenot’s staggeringly ambitious book uncovers the surprisingly libertarian heart of the most influential British and American architectural and urbanist discourses of the postwar period, expressed as a critique of central design and a support of spontaneous order. Non-Design illuminates the unexpected philosophical common ground between enemies of state support, most prominently the economist Friedrich Hayek, and numerous notable postwar architects and urbanists like Robert Venturi, Denise Scott Brown, Reyner Banham, and Jane Jacobs. These thinkers espoused a distinctive concept of "non-design,"characterized by a rejection of conscious design and an embrace of various phenomenon that emerge without intention or deliberate human guidance. This diffuse and complex body of theories discarded many of the cultural presuppositions of the time, shunning the traditions of modern design in favor of the wisdom, freedom, and self-organizing capacity of the market. Fontenot reveals the little-known commonalities between the aesthetic deregulation sought by ostensibly liberal thinkers and Hayek’s more controversial conception of state power, detailing what this unexplored affinity means for our conceptions of political liberalism. Non-Design thoroughly recasts conventional views of postwar architecture and urbanism, as well as liberal and libertarian philosophies.
Prior to the Revolution of 1910, economic ideals were a dominant mode of political and social discourse in Mexico. Scholars have focused considerable attention on the expansion of the market economy during this period—particularly its political, economic, and social importance. Richard Weiner now enhances our understanding of the emergence of modern Mexico by exploring the market's immense symbolic significance. Race, Nation, and Market traces the intellectual strands of economic thought during the late Porfiriato. Even in the face of Díaz's political reign, the market became the dominant theme in national discourse as contemporaries of all political persuasions underscored its social and cultural effects. This work documents the ways in which liberals, radicals, and conservatives employed market rhetoric to establish their political identities and map out their courses of action, and it shows how the market became an emblem linked to the identity of each group. Weiner explains how the dominant political interests—the científicos, the Mexican Liberal Party, and the social Catholics—each conceived economic issues, and he compares how they rhetorically used their conceptions of the market to promote their political objectives. Some worshiped it as a deity that created social peace, political harmony, and material abundance, while others demonized it as a source of social destruction. Weiner delineates their approaches and reveals how distinct notions of race, gender, community, and nationality informed economic culture and contradicted a laissez-faire conception of society and economy. By focusing on these rhetorical contests, Race, Nation, and Market offers a new perspective on social mobilization in late nineteenth-century Mexico as it also explores the related field of Porfirian economic culture and thought, about which little thus far has been written. In the face of today's controversy over globalization, it offers a unique historical perspective on the market's long-standing significance to political activism.
"Singularly interesting and stimulating. . . . A passionate and original work of scholarship."—Richard Wollheim, Times Literary Supplement
"With the publication [of Rembrandt's Enterprise], Svetlana Alpers has firmly established herself in the front ranks of art historians at work today. . . . The book is not a long one. Yet, there is more perceptive scholarship packed into its four chapters than is typically found in a whole shelf of the more common outpourings of academic writers. Rembrandt's Enterprise is less a book of archival discoveries than of fresh interpretation of the revered artist and his milieu. . . . Alpers makes us see how Rembrandt's complex and enormously popular art has embedded itself in our ways of thinking about who we are and how we live, even in the late 20th century."—Christopher Knight, Los Angeles Herald Examiner
The history of Christianity in America has been marked by recurring periods of religious revivals or awakenings. In this book, George M. Thomas addresses the economic and political context of evangelical revivalism and its historical linkages with economic expansion and Republicanism in the nineteenth century. Thomas argues that large-scale change results in social movements that articulate new organizations and definitions of individual, society, authority, and cosmos. Drawing on religious newspapers, party policies and agendas, and quantitative analyses of voting patterns and census data, he claims that revivalism in this period framed the rules and identities of the expanding market economy and the national policy.
"Subtle and complex. . . . Fascinating."—Randolph Roth, Pennsylvania History
"[Revivalism and Cultural Change] should be read with interest by those interested in religious movements as well as the connections among religion, economics, and politics."—Charles L. Harper, Contemporary Sociology
"Readers old and new stand to gain much from Thomas's sophisticated study of the macrosociology of religion in the United States during the nineteenth century. . . . He has given the sociology of religion its best quantitative study of revivalism since the close of the 1970s."—Journal for the Scientific Study of Religion
In this ground-breaking book, Beth Holmgren examines how—in turn-of-the-century Russia and its subject, the Kingdom of Poland—capitalism affected the elitist culture of literature, publishing, book markets, and readership. Rewriting Capitalism considers how both “serious” writers and producers of consumer culture coped with the drastic power shift from “serious” literature to market-driven literature.
Just as Shakespeare's theater was an economic gamble, subject to the workings of a market, so the plays themselves submit actions, persons, and motives to an audience's judgment. Such a theatrical economy, Lars Engle suggests, provides a model for the way in which truth is determined and assessed in the world at large—a model much like that offered by contemporary pragmatism.
To Engle, the problems of worth, price, and value that appear so frequently in Shakespeare's works reveal a playwright dramatizing the negotiable nature of perception and belief—in short, the nature of his audience's purchase on reality. This innovative argument is the first to view Shakespeare in the context of contemporary pragmatism and to show that Shakespeare in many ways anticipated pragmatism as it has been developed in the thought of Richard Rorty, Barbara Herrnstein Smith, and others. With detailed reference to the sonnets and plays, Engle explores Shakespeare's tendency to treat knowledge, truth, and certainty as relatively stable goods within a theatrical economy of social interaction. He shows the playwright recasting kingship, aristocracy, and poetic immortality in pragmatic terms.
As attentive to history as it is to contemporary theory, this book mediates between current and traditional accounts of Shakespeare. In doing so, it offers a sweeping new account of Shakespeare's enterprise that will interest philosophers, literary theorists, and Shakespeare scholars alike.
This richly illustrated study is the first consider the manifold functions and meanings of Hals’s distinctive handling of paint. Atkins explores the uniqueness of Hals’s approach to painting and the relationship of his manner to seventeenth-century aesthetics. He also investigates the economic motivations and advantages of his methods, the operation of the style as a personal and workshop brand, and the apparent modernity of the artist’s style. The book seeks to understand the multiple levels on which Hals’s consciously cultivated manner of painting operated for himself, his pupils and assistants, his clients, and succeeding generations of viewers. As a result, the book offers a wholly new understanding of one of the leading artists of the Dutch Golden Age, and one of the most formative painters in the history of art in the Western tradition. It also provides a much needed interrogation of the interrelationships of subjectivity, style, authorship, methods of artistic and commercial production, economic consumption, and art theory in early modernity.
What should serve as money, who should control its creation and circulation, and according to what rules? For more than two hundred years, the “money question” shaped American social thought, becoming a central subject of political debate and class conflict. Sovereign of the Market reveals how and why this happened.
Jeffrey Sklansky’s wide-ranging study comprises three chronological parts devoted to major episodes in the career of the money question. First, the fight over the innovation of paper money in colonial New England. Second, the battle over the development of commercial banking in the new United States. And third, the struggle over the national banking system and the international gold standard in the late nineteenth century. Each section explores a broader problem of power that framed each conflict in successive phases of capitalist development: circulation, representation, and association. The three parts also encompass intellectual biographies of opposing reformers for each period, shedding new light on the connections between economic thought and other aspects of early American culture. The result is a fascinating, insightful, and deeply considered contribution to the history of capitalism.
A fast-paced, behind-closed-doors account of the Federal Reserve’s decision making during the 2008 financial crisis, showing how Fed policymakers overcame their own assumptions to contain the disaster.
The financial crisis of 2008 led to the collapse of several major banks and thrust the US economy into the deepest recession since the Great Depression. The Federal Reserve was the agency most responsible for maintaining the nation’s economic stability. And the Fed’s Open Market Committee was a twelve-member body at the epicenter, making sense of the unfolding crisis and fashioning a response. This is the story of how they failed, learned, and staved off catastrophe.
Drawing on verbatim transcripts of the committee’s closed-door meetings, Mitchel Abolafia puts readers in the room with the Federal Reserve’s senior policymaking group. Abolafia uncovers what the Fed’s policymakers knew before, during, and after the collapse. He explores how their biases and intellectual commitments both helped and hindered as they made sense of the emergency. In an original contribution to the sociology of finance, Stewards of the Market examines the social and cultural factors that shaped the Fed’s response, one marked by missed cues and analytic failures but also by successful improvisations and innovations.
Ideas, traditions, and power all played their roles in the Fed’s handling of the crisis. In particular, Abolafia demonstrates that the Fed’s adherence to conflicting theories of self-correcting markets contributed to the committee’s doubts and decisions. A vivid portrait of the world’s most powerful central bank in a moment of high stakes, Stewards of the Market is rich with insights for the next financial downturn.
Sometime in the next four years, in a move that is bound to anger consumers and endanger the careers of politicians, the United Kingdom plans to turn off its analog, terrestrial television and switch fully to digital TV. Switching to Digital Television argues that, in order for the initiative to succeed, public policymakers need to carefully consider competitive market forces and collaborate with the broadcasting industry.
This authoritative study of the government policy behind the switchover also draws on the United Kingdom’s experience as a basis for comparative analysis of the United States, Japan, and western European nations, all of which will face similar questions in coming years.
“The book provides an interesting and ‘different’ history of Digital Television, and if you want to know why and how the decisions were made, it deserves a place on your bookshelf.”– Jim Slater, Image Technology Magazine
“Michael Starks brilliantly describes the complex mix of Government and industry responses to technological change which have led to the digital switchover process in the UK.”—Barry Cox, Chairman of Digital UK
This book investigates the way that corporations are strategically shaping children to be under-aged hyperconsumers as well as the submissive employees and uncritical citizens of the future.
Sharon Beder shows how marketers and advertisers are targeting ever younger children in a relentless campaign, transforming children's play into a commercial opportunity and taking advantage of childish anxieties.
Beder investigates the corporate relations and ideals that infiltrate every aspect of our lives. She presents an alarming picture of how a child's social development -- through education, health care and nutrition -- has become an ordered conveyor belt of consumerist conditioning. Focusing on education in particular, Beder explains how businesses are taking control of more and more aspects of schooling, not only for profit but to erode state schooling and promote business values. Similarly, she shows how 'difficult' children are taught from an early age that pharmaceuticals can be used to discipline them or to make them 'happy'.
The unifying theme of the essays in this volume is the increasing national and global power and reach of the market and its growing impact on all aspects of human life. The phrase "the market" denotes both the corporate institutions that are the leading and dominant factors in production, trade, and finance, and the arrangements, mechanisms, and practices that permit and facilitate the buying and selling of goods and money. Thus, the "triumph of the market" refers to the sharp increase in power, and hegemonic position, of the dominant market participants and to the now almost universal acceptance of market exchanges and private ownership as the exclusive way of organizing economic life.
The Tyranny of the Market
Joel Waldfogel Harvard University Press, 2007 Library of Congress HF5415.32.W35 2007 | Dewey Decimal 381
Economists have long counseled reliance on markets rather than on government to decide a wide range of questions, in part because allocation through voting can give rise to a "tyranny of the majority." Markets, by contrast, are believed to make products available to suit any individual, regardless of what others want. But the argument is not generally correct. In markets, you can't always get what you want. This book explores why this is so and its consequences for consumers with atypical preferences.
Tyson: From Farm to Market
Marvin Schwartz University of Arkansas Press, 1991 Library of Congress HD9419.T97S39 1991 | Dewey Decimal 338.7664900973
Marvin Schwartz chronicles the story of Tyson Foods and its impact on both the business community and the poultry market in America in an entertaining and enlightening tribute to the Tyson vision and success.
In Vernacular Latin Americanisms, Fernando Degiovanni offers a long-view perspective on the intense debates that shaped Latin American studies and still inform their function in the globalized and neoliberal university of today. By doing so he provides a reevaluation of a field whose epistemological and political status has obsessed its participants up until the present. The book focuses on the emergence of Latin Americanism as a field of critical debate and scholarly inquiry between the 1890s and the 1960s. Drawing on contemporary theory, intellectual history, and extensive archival research, Degiovanni explores in particular how the discourse and realities of war and capitalism have left an indelible mark on the formation of disciplinary perspectives on Latin American cultures in both the United States and Latin America. Questioning the premise that Latin Americanism as a discipline comes out of the tradition of continental identity developed by prominent intellectuals such as José Martí, José E. Rodó or José Vasconcelos, Degiovanni proposes that the scholars who established the discipline did not set out to defend Latin America as a place of uncontaminated spiritual values opposed to a utilitarian and materialist United States. Their mission was entirely different, even the opposite: giving a place to culture in the consolidation of alternative models of regional economic cooperation at moments of international armed conflict. For scholars theorizing Latin Americanism in market terms, this meant questioning nativist and cosmopolitan narratives about identity; it also meant abandoning any Bolivarian project of continental unity or of socialist internationalism.