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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.
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Subjects
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1
Employers’ Economics versus Employees’ Economy: How Adam Smith’s Legacy Obscures Public Investment in the Private Sector
Jun 08, 2018, Palgrave Macmillan
paperback
3319843281 9783319843285
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2
Employers’ Economics versus Employees’ Economy: How Adam Smith’s Legacy Obscures Public Investment in the Private Sector
Jan 24, 2017, Palgrave Macmillan
hardcover
in English
3319501488 9783319501482
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Book Details
Edition Notes
Source title: Employers’ Economics versus Employees’ Economy: How Adam Smith’s Legacy Obscures Public Investment in the Private Sector


