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Social Costs and Public Action in Modern Capitalism - Essays Inspired by Karl William Kapp's Theory of Social Costs (Paperback)
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Social Costs and Public Action in Modern Capitalism - Essays Inspired by Karl William Kapp's Theory of Social Costs (Paperback)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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The Social Costs approach to the globalised capitalist market
economy has gained new relevance in recent years. The present
situation is one of widespread and increasing deterioration of the
social, cultural, democratic, and environmental frameworks of
advanced capitalist market societies. This deterioration is
indicated by the threats of unemployment, precarious working
conditions and increasing income/status inequality, uneven
geographical developments, and the exploitation and undermining of
the institutional fabric of the society. It is aggravated by the
rapid extension - at local, national, regional and global scales -
of ecological disruption. So the global capitalist market economy
is characterised by a great deal of instability and so-called true
uncertainty, which largely undermine its coordinating and
welfare-enhancing capacity. The view suggested by Karl William
Kapp's seminal evolutionary open-systems approach is that these
processes and problems are the outcome of a widening gap between
private individualist economic, and societal values or, to use Karl
Polanyi's terms, of the ever increasing disembeddedness of the
economy from society and of the subjugation of society to the
economy. The key actor in this process is business or, more
specifically, it is the increasingly dominant, globalised,
deregulated and disembedded hierarchical and power system of
business enterprise. Current analyses of the global capitalist
market economy are overdue to be undertaken making use of the
powerful analytic frame of Karl William Kapp's open systems
economics. 'Social Costs and Public Action in Modern Capitalism'
examines this approach from a theoretical, conceptual, empirical,
policy and case study level.
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