Marketcraft : how governments make markets work /

Modern-day markets do not arise spontaneously or evolve naturally. Rather they are crafted by individuals, firms, and most of all, by governments. Thus "marketcraft" represents a core function of government comparable to statecraft and requires considerable artistry to govern markets effec...

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Bibliographic Details
Main Author: Vogel, Steven Kent (Author)
Format: Book
Language:English
Published: New York, NY : Oxford University Press, [2018]
Subjects:
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245 1 0 |a Marketcraft :  |b how governments make markets work /  |c by Steven K. Vogel. 
264 1 |a New York, NY :  |b Oxford University Press,  |c [2018] 
300 |a x, 187 pages :  |b illustrations ;  |c 24 cm 
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504 |a Includes bibliographical references (pages 167-184) and index. 
520 |a Modern-day markets do not arise spontaneously or evolve naturally. Rather they are crafted by individuals, firms, and most of all, by governments. Thus "marketcraft" represents a core function of government comparable to statecraft and requires considerable artistry to govern markets effectively. Just as real-world statecraft can be masterful or muddled, so it is with marketcraft. In Marketcraft, Steven Vogel builds his argument upon the recognition that all markets are crafted then systematically explores the implications for analysis and policy. In modern societies, there is no such thing as a free market. Markets are institutions, and contemporary markets are all heavily regulated. The "free market revolution" that began in the 1980s did not see a deregulation of markets, but rather a re-regulation. Vogel looks at a wide range of policy issues to support this concept, focusing in particular on the US and Japan. He examines how the US, the "freest" market economy, is actually among the most heavily regulated advanced economies, while Japan's effort to liberalize its economy counterintuitively expanded the government's role in practice. Marketcraft demonstrates that market institutions need government to function, and in increasingly complex economies, governance itself must feature equally complex policy tools if it is to meet the task. In our era-and despite what anti-government ideologues contend-governmental officials, regardless of party affiliation, should be trained in marketcraft just as much as in statecraft.--  |c Provided by Publisher. 
505 0 |a 1. THE MARKETCRAFT THESIS, p.1 -- The Core Propositions, p.3 -- Market Governance, p.9 -- 2. THE ELEMENTS OF MARKETCRAFT, p.15 -- The Corporation, p.17 -- Accounting, p.21 -- The Banking System, p.23 -- Capital Markets, p.25 -- Corporate Governance, p.26 -- Labormarkets, p.28 -- Antitrust, p.31 -- Sector-Specific Regulation, p.33 -- Intellectual Property Rights, p.36 -- Fabricated Markets, p.38 -- 3. MARKETCRAFT AMERICAN STYLE: WHY THE WORLD'S "FREEST" MARKET ECONOMY IS THE MOST GOVERNED, p.43 -- The Postwarmodel, p.44 -- Financial Reform, p.51 -- Corporate Governance Reform, p.53 -- Labor Market Reform, p.55 -- Antitrust Reform, p.57 -- Regulatory Reform, p.59 -- Intellectual Property Rights, p.62 -- The Marketcraft of the Information Revolution, p.65 -- The Marketcraft of the Global Financial Crisis, p.69 -- 4. MARKETCRAFT JAPANESE STYLE: WHY IT'S SO HARD TO CRAFT A LIBERAL MARKET ECONOMY, p.77 -- The Postwarmodel, p.78 -- Financial Reform, p.89 -- Corporate Governance Reform, p.92 -- Labor Market Reform, p.96 -- Antitrust Reform, p.100 -- Regulatory Reform, p.102 -- Intellectual Property Rights, p.104 -- Marketcraft for Innovation, p.106 -- Marketcraft for a Japanese It Revolution, p.111 -- 5. MARKETCRAFT IN THEORY AND PRACTICE, p.117 -- Rhetoric, p.117 -- Economics, p.121 -- Political Science, p.126 -- Markets as Institutions, p.131 -- Markets and Freedom, p.134 -- Measuring Economic Freedom and Market Governance, p.136 -- Policy, p.138 -- Lessons for Progressives, p.144 -- Lessons for Market Liberals, p.146 -- Marketcraft and the Public Good, p.147 -- Notes, p.151 -- References, p.167 -- Index, p.185. 
650 0 |a Free enterprise. 
650 0 |a Capitalism. 
650 0 |a Trade regulation. 
650 0 |a Economic policy. 
650 0 |a Commercial policy. 
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650 7 |a Commercial policy.  |2 fast  |0 (OCoLC)fst00869569 
650 7 |a Economic policy.  |2 fast  |0 (OCoLC)fst00902025 
650 7 |a Free enterprise.  |2 fast  |0 (OCoLC)fst00933866 
650 7 |a Trade regulation.  |2 fast  |0 (OCoLC)fst01153817 
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