Comparative Economic Systems: Culture, Wealth, and Power in the 21st Century explains how culture, in various guises, modifies the standard rules of economic engagement, creating systems that differ markedly from those predicted by the theory of general market competition. This analysis is grounded in established principles, but also assumes that individual utility seeking may be culturally determined, that political goals may take precedence over public well–being, and that business misconduct may be socially detrimental.
The book clarifies conceptual misunderstandings about the comparative merit of free competition and perfect governance, showing in many cases how the same results are attainable using either mechanism, or by combining them. It illuminates why engineering variables such as the quantity and quality of fixed and variable inputs, management, entrepreneurship, technological progress, and economic governance do not adequately explain disorders like the increasing poverty of the world′s poorest nations.
End–of–chapter questions and an extensive glossary enhance the book′s utility and enable readers to fully comprehend the key features of each chapter.
Part I: Systems.
1. Comparative Economic Systems.
2. Classification and Principles.
3. Culture, Politics and Ethics.
Part II: Perfect Economic Mechanisms.
5. Perfect Competition.
6. Perfect Governance.
Part III: Great Powers.
8. Continental Europe.
13. Comparative Potential.
Part IV: Performance.
15. Global Performance.
Part V: International Relations.
17. Military Balance.
"This book is an outstanding text to acquaint students with the differences among the world′s major economic systems. Its author is one of the best–informed and most careful scholars in the field." Quinn Mills, Harvard Business School
"Thisis an ambitious and innovative work that rigorously and successfully addresses a question that economists often and mistakenly ignore: namely, how do ethics, culture, and politics affect the operation of core economic principles and the relative performance of the major economic systems in the global economy?"Charles Wolf, RAND
"Rosefielde provides a forward–looking text that is firmly grounded in the fundamentals of comparative economics but that seizes fully the opportunities offered to the field by the end of the cold war. This is a text that can make comparative economic systems a "must–take" course for every undergraduate and a "must–offer" course for every economics department." Josef C. Brada, Arizona State University