Review: Politics and markets
Editorial Review - Kirkus ReviewsAn exploration of the degrees to which different forms of government control market forces. In what amounts to a textbook format, Lindblom (Economics, Yale) seeks to address questions that he considers unanswered in separate studies of politics and economics. While his synthesis, or survey, does not attempt to draw conclusions, it provides a wealth of basic information and representative examples. At the outset, the author identifies three principal market-regulating mechanisms: authority (""the core phenomenon that makes government possible""); persuasion (e.g., the preceptoral rhetoric of China or Cuba); and exchange (money, pricing, et al.). Lindblom acknowledges that authoritarian, as opposed to market-oriented, political-economic systems are inherently clumsy since they require central coordination to function efficiently. Subsequently, he takes a tack that tempers this judgment: ""No government skillfully employs the market as an instrument of democratic public policy."" The market system, Lindblom explains, need not be tied to the private ownership of production assets, but ""only within market-oriented systems does political democracy arise."" Unfortunately, government officials have ceded corporate executives discretionary power over the equivalent of public policy decisions--i.e., those affecting not only allocation of resources but also employment levels. The consequences of a regime's failure to cater to business can be severe, Lindblom observes, citing India's ""principled"" opposition to private enterprise, which has resulted in slow industrial growth and static commercial development. Communist nations, the author believes, are on the horns of another dilemma. Over the years, they have lost both revolutionary and innovative zeal. Lindblom's book has a pedantic style and outlook that will limit its appeal to specialists.
Review: Politics and Markets : The World's Political-Economic Systems
User Review - Kyle - GoodreadsA dated but clearly written and interesting political economy text. Discussion of the roles of government/politics and market in the economy is particularly relevant to contemporary issues. Read full review
