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Plunkett's On-Line Trading, Finance & Investment Web Sites: Profiles Hundreds of Internet Sites Operated by Leading Data and Service Providers (Plunkett's ... Finance & Investments Web Sites Alamanac)
Jack W. Plunkett Manufacturer: Plunkett Research ProductGroup: Book Binding: Paperback ASIN: 1891775081 |
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58 1/2 Ways to Improvise in Training: Improvisation Games and Activities for Workshops, Courses and Team Meetings
Paul Z. Jackson Manufacturer: Crown House Publishing ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 1904424147 |
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An extraordinarily handy warm-up and focus guide.......2004-07-09
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American ginseng: Green gold
W. Scott Persons Manufacturer: Bright Mountain Books ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 0914875167 |
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pioneers of american ginseng growth.......2007-04-07
The most informative source I have yet found........1999-01-11
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AMERICAN GINSENG: GREEN GOLD.
W. Scott. Persons Manufacturer: Bright Mountain Books, Inc., ProductGroup: Book Binding: Hardcover ASIN: B000PJDBZW |
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Ginseng-- green gold of America (Business opportunities in herb industry series)
Sadhu Singh Ahluwalia Manufacturer: Walden House ProductGroup: Book Binding: Unknown Binding ASIN: B0006QQ7OG |
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Sacred Space: A Feminist Vision of Astrology
Geraldine Hatch Hanon Manufacturer: Firebrand Books ProductGroup: Book Binding: Hardcover ASIN: 0932379877 |
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Group Theoretical Techniques in Quantum Chemistry (Theoretical chemistry : a series of monographs)
C.D.H. Chisholm Manufacturer: Academic Press Inc.,U.S. ProductGroup: Book Binding: Hardcover ASIN: 0121729508 |
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Group Theory in Chemistry and Spectroscopy: A Simple Guide to Advanced Usage (Theoretical Chemistry; a Series of Monographs)
Boris S. Tsukerblat Manufacturer: Academic Pr ProductGroup: Book Binding: Hardcover Similar Items:
ASIN: 0127022856 |
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Stock Market Capitalism: Welfare Capitalism: Japan and Germany versus the Anglo-Saxons (Japan Business & Economics)
Ronald Dore Manufacturer: Oxford University Press, USA ProductGroup: Book Binding: Paperback Similar Items:
ASIN: 0199240612 |
Book Description
This is a book about Washington Consensus capitalism and the controversies its encroachment causes in Japan and Germany. Many people in both those countries share the assumptions dominant today in Britain and America-that managers should be intent solely on creating shareholder value and that shareholders' financial logic alone should determine who buys what company on the stock exchange. That way efficiency (and hence global welfare) will be maximized. The Japanese and German advocates of full-bloodied market capitalism are not having it all their own way, however. In both countries there are articulate defenders of what they consider to be a better way of life, informed by a more human, more social-solidary, set of values. Dore traces the fascinating debates which ensue on corporate governance, on worker rights, on supplier relations, on cartels and anti-trust, on pensions and welfare. He also analyses actual changes in economic behaviour-an essential means of sorting out a lot of the muddle and double-talk not just in the internal debates themselves, but even more in the foreign reporting of them. These accounts of the battle for the national soul in Japan and Germany constitute one of the finest contributions to the 'diversity of capitalism' debate. Dore's account should be read by anyone who is interested to know whether, for all the talk of globalization, that diversity is going to survive.Customer Reviews:
Good book with wrong conclusions.......2005-08-15
Review of Journal of Economic Literature.......2003-04-07
Hardly a day passes without the financial press asserting that Japan's economic structure is responsible for the long recession and demanding "badly needed" structural changes. The results of a decade of apparently vigorous counter-cyclical policies have been disappointing. It is therefore not surprising that many experts agree with the Bank of Japan's argument that deep structural reforms are needed to enhance growth. A similar story is being told about Germany. Recent economic weakness is seen by the European Central Bank as evidence that structural re-form is "needed"-a view enthusiastically sup-ported by the financial press (who, according to Dore, constitute an interested party benefiting from the "financialization" that results from introducing U.S.-style capitalism). As Francis Fukuyama argued, the "Anglo-Saxon" free market and stock market based system has become the global standard. It is this mainstream view that Ronald Dore's important and refreshing book is directed against. It deserves praise not just for Dore's courage in defending an unpopular cause.
The book is very timely: it points out the advantages of German/Japanese welfare capitalism just when it is becoming an endangered species. It is rich in detail, yet surprisingly concise. It is analytical, yet highly readable and full of illuminating examples. It combines an eye for macro-economic implications with sound micro-economic and management- level insights. Finally, Dore's book provides an analysis of the ongoing pressures on welfare capitalism and how its salient features are now changing. Dore's readers benefit from his decades of experience and seminal work on the Japanese firm. The relatively smaller weight given to Germany is the book's main (though acknowledged) weakness.
Dore identifies key features that make Ger-man/ Japanese capitalism different from the "Anglo- Saxon" variety familiar from textbooks. The former produces benefits due to its cooperative nature and long-term orientation. The Anglo-Saxon model is good for the shareholders. The Germans and Japanese maintained market mechanisms, but eliminated shareholders as the main beneficiaries. Instead of serving the few, a form of capitalism was born that succeeded in creating a decent quality of life for the many- employees and society at large.
Dore is a must-read for any economist, precisely because he challenges our preconceptions. As is increasingly recognized in the literature, once unrealistic assumptions such as perfect information and efficient markets are relaxed, there is no guarantee that markets left to their own devices will produce socially optimal results. The designers of the German and Japanese systems based their institutional designs on a more realistic description of the world. By focusing on mutually beneficial cooperation and coordination, they managed to internalize externalities, minimize information costs, and, most of all, motivate individuals. They recognized that "utility functions" are interdependent, people compete in hierarchical fashion and have a common desire for justice and fairness of organizational arrangements. Recent growth theories acknowledge the importance of the human resource aspect of "labor." While neglected in static models and policy advice, human resources are at the center of the German/Japanese model.
With regard to the premise that capital is the scarce resource and that "labor" will normally be in fairly abundant supply, Dore says, "It is amazing that anyone can seriously sustain this view in a world awash with so much liquidity that its movement from one country to another keeps exchange rates in perpetual motion" (p. 15). Human resource mobilization requires institutional design. "The whole discussion of modal behavioral dispositions as a factor in the functioning of economic systems tends to be avoided among economists who wish to believe that what they teach their students are theorems about THE economy, determined by the universal utility function of MAN" (p. 38). Not so in Japan, where people tend "to be good at discerning possibilities of cooperation which can be of general benefit, and at devising organizational forms which can reap those benefits in ways which all participants can consider fair" (p. 38).
One such organizational form is the system of industry associations, which are modern incarnations of the medieval guild structure. Due to their public goods character, resulting cartels may be welfare-enhancing. The cooperative orientation does not mean there is no competition. As Dore explains well, competition can be fierce, as the system combines markets and hierarchies. The tendency towards the formation of cartels is counteracted by relatively low concentration ratios in many industries (due to bank finance and cross-shareholdings which result in fewer hostile takeovers) and inter-firm rivalry due to lifetime employment.
Just when economists are beginning to recognize these issues, Germany and Japan are moving toward adopting the Anglo-Saxon model. These changes increase "financialization" and thus the share of economic activity devoted to profit-seeking by shifting ownership certificates from A to B. Adopting U.S.-style capitalism means that Germany and Japan are importing its disadvantages and social problems. Dore asks: Can it be efficient to devote ever more people to servicing "gambling on uncertainties in financial markets" with analysis, advice, appraisal, advertising? As increasingly strong shareholders demand "value," will social welfare or overall fairness increase? One issue remains: If it is so successful, why is Dore one of the few to defend welfare capitalism?
Recent weak economic performance is blamed on the system, and it is seen to have out-lived its usefulness. Whether this is really true must be investigated, though it is beyond the scope of Dore's book. In my forthcoming book (2003, Princes of the Yen, Japan's Central Bankers and the Structural Transformation of the Economy, Armonk, NY: M.E. Sharpe) I provide evidence that the Japanese recession was not due to the economic structure but instead to a central bank aiming at dismantling welfare capitalism.
All in all, Dore's book succeeds in raising and illuminating these challenging issues. It deserves much attention. It also shows the need for further research on this topic-and soon, before this species of capitalism becomes extinct.
Stock Market Capitalism.......2001-01-04
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Stock Market Capitalism; Welfare Capitalism: Japan and Germany Versus the Anglo-Saxons. (Book Reviews). (book review): An article from: Journal of Economic Issues
John Groenewegen Manufacturer: Association for Evolutionary Economics ProductGroup: Book Binding: Digital ASIN: B0008ILO5Y Release Date: 2005-07-28 |
Book Description
This digital document is an article from Journal of Economic Issues, published by Association for Evolutionary Economics on December 1, 2001. The length of the article is 1099 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Stock Market Capitalism: Welfare Capitalism : Japan and Germany Versus the Anglo-Saxons (Japan Business & Economics S.)
Ronald Dore Ronald Philip Dore Manufacturer: Oxford University Press(UK) ProductGroup: Book Binding: Paperback ASIN: B000OL16GC |
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Stock Market Capitalism: Welfare Capitalism : Japan and Germany versus the Anglo-Saxons (Japan Business & Economics S.)
Ronald Dore Manufacturer: Oxford University Press(UK) ProductGroup: Book Binding: Paperback ASIN: B000OKYIO0 |
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Chicksands
Robert B. Atkin Manufacturer: Authorhouse ProductGroup: Book Binding: Paperback ASIN: 0759660476 |
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Book is revealing..........2002-05-30
Book is revealing..........2002-05-30
Don't Waste Your Money!.......2002-02-15
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Chicksands : A Millennium of History
William C. Grayson Manufacturer: Shefford Pr ProductGroup: Book Binding: Paperback ASIN: 0963320815 |
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APPEALING - INCREDIBLE READ!.......2002-07-09
Chicksands: A Millennium of History.......2002-01-02
An Excellent Historical work about Chicksands.......1999-10-23
An Excellent Historical work about Chicksands.......1999-10-23
Excellent history of RAF Chicksands.......1999-10-13
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Sourcing indirect spend: a survey of current internal and external strategies for non-revenue-generating goods and services.: An article from: Journal of Supply Chain Management
Andrew Cox , Daniel Chicksand , Paul Ireland , and Tony Davies Manufacturer: National Association of Purchasing Management, Inc. ProductGroup: Book Binding: Digital ASIN: B000ALRS54 Release Date: 2005-07-25 |
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This digital document is an article from Journal of Supply Chain Management, published by National Association of Purchasing Management, Inc. on March 22, 2005. The length of the article is 8441 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
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Ancient window glass at Chicksands Priory, Bedfordshire
St. John O Gamlen Manufacturer: Gamlen ProductGroup: Book Binding: Unknown Binding ASIN: B0007ALZRU |
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A Life in Medical Research and Teaching: An Endocrinologist's Tale
Richard Horton Manufacturer: Authorhouse ProductGroup: Book Binding: Paperback ASIN: 1410741028 |
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