Economic Ideas, Policy and National Culture: A Comparison of Three Market Economies

Description

All human beings develop a certain view on the world, and individuals belonging to the same national cultures are likely to develop very similar views with one another. In this same manner, academic economists and policymakers are consistently exposed to the same view on the preferred way of organizing an economy as the rest of the population of their given country. This book explores the economic impacts of these shared cultural values, focusing on the wider economies of the USA, Germany, and France. These three countries represent broadly different types of economic organization and their corresponding economic ideologies: a free market economy, a coordinated market economy, and a hierarchical market economy. The contributors to this edited volume work to examine the extent to which the shared worldviews between academic economists, policymakers, the wider population, and the tradition of each economic thought in which the economy fits, impacts these economies. In particular, the chapters look at the design of the labor market, the financial system, competition policy, and monetary policy. The work also explores the extent to which the shared views on national culture and economic systems and policies in these countries contribute to the population’s well-being overall. This book makes an invaluable contribution to the literature on comparative economics, economic policy, well-being and cultural economics. Cover Endorsement page Half Title Series Page Title Page Copyright Page Table of Contents List of contributors Preface Abbreviations Part I Setting the stage Chapter 1 Introduction and motivation Chapter 2 National culture in the three types of market economies Part II Economic ideas Chapter 3 The morality of the market process and the normative implications of catallactic competition Chapter 4 Markets, morality, and human flourishing in the ordoliberal tradition Chapter 5 The market in the hierarchical market tradition: The case of post-war French economic thought Part III Policy Chapter 6 Three varieties of labour markets: Three varieties of human flourishing? Chapter 7 Do national financial systems still reflect national values?: The case of the United States, Germany, and France Chapter 8 Competition policy within the free, hierarchical, and coordinated market tradition Chapter 9 Central bank independence and monetary policy in the United States, Germany, and France: Have they converged? Part IV Concluding remarks Chapter 10 Conclusions and discussion Index