Employers' economics versus employees' economy : how Adam Smith's legacy obscures public investment in the private sector / by John F.M. McDermott.
McDermott, John F. M., author.
2017
HJ9-9940
Available Online

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Title Employers' economics versus employees' economy : how Adam Smith's legacy obscures public investment in the private sector / by John F.M. McDermott.
Author McDermott, John F. M., author.
ISBN 9783319501499 (electronic book)
3319501496 (electronic book)
3319501488
9783319501482
DOI https://doi.org/10.1007/978-3-319-50149-9
Published Cham : Springer International Publishing : Imprint : Palgrave Macmillan, 2017.
Language English
Description 1 online resource
Other Standard Identifiers 10.1007/978-3-319-50149-9 doi
Call Number HJ9-9940
Dewey Decimal Classification 336
Summary This book argues that economic activity in the public sphere now underwrites private corporations, and rejects rigid adherence to traditional economic theories that no longer apply. Adam Smith's widely used "merchant's model" assumes that most investment is private, when in fact research demonstrates that public investment in the workforce through education and training far outweighs the private sector, and does not account for the growing presence of consensual pricing, the diversification of modern businesses, or the increasing internal authoritarianism of globalizing companies. With de facto public support for these adaptations undermining the universally presumed economic model, private corporations are able to increase their profits while misrepresenting the investment of their own global labor forces. This book suggests an "economy of laws" solution that balances the needed degree of central investment planning with the continuation of our pluralist economy of largely autonomous firms, principally by extending the full rights of citizens into the workplace itself.
Bibliography, etc. Note Includes bibliographical references and index.
Access Note Access limited to authorized users.
Digital File Characteristics text file PDF
Available in Other Form Employers' economics versus employees' economy.
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Chapter 1: We Invest More Than They!
Chapter 2: The Paradoxes of Market Economics
Chapter 3: Economics and Mis-Mathematics.-Chapter 4: Cornucopia, Inc.-Chapter 5: From Employees to Servants
Chapter 6: A Reformed Economic Science and Economic Reform.

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