Democracy, the Market, and the Firm - How Interplay Between Trading Voting Fosters Political Stability

This book investigates the assumptions that allow shareholders to align in voting decisions even in a context of severe market failures. The authors argue that the invisible hand of the market and the active hand of democracy can jointly bring about positive outcomes.

List of contents

• Introduction: Democracy and the Market, Hand in Hand


• I The Political Economy of the Firm


• 1: Disagreements on the market


• 2: Democracy in the Firm


• 3: Voting and Trading in Symbiosis


• II The Social Economy of the Shareholder


• 4: Why So Much Consensus?


• 5: Making a Virtue of Necessity


• Conclusion: On the Road with Democracy and the Market

About the author

Hervé Crès is a mathematician and economic theorist working on collective agency and rationality. He has been a professor at the University of Pennsylvania, HEC Paris, and Sciences Po. He has served as deputy dean of the HEC and vice-president and interim president of Sciences Po. He has also held professorial positions in Copenhagen, Geneva, Istanbul, and Singapore.

Mich Tvede is a theoretical economist who works on general equilibrium theory with production and financial markets, economics dynamics, and cost sharing in networks. He has held positions at CBS, the University of Copenhagen, and Newcastle University, and visiting positions at the University of Geneva, the University of Pennsylvania, and New York University Abu Dhabi.

Summary

This book investigates the assumptions that allow shareholders to align in voting decisions even in a context of severe market failures. The authors argue that the invisible hand of the market and the active hand of democracy can jointly bring about positive outcomes.

Product details

• Authors: Herv^d''e (New York University Abu Dhabi) Cr^d'es, Herve (New York University Abu Dhabi) Cres, Herve (New York University Abu Dhabi) Tvede Cres, Hervé Crès, Mich Tvede, Mich (University of East Anglia) Tvede, Tvede Mich
• Publisher: Oxford University Press
• Languages: English
• Product format: Hardback
• Released: 31.07.2021
• EAN: 9780192894731
• ISBN: 978-0-19-289473-1
• No. of pages: 192
• Subjects: Social sciences, law, business > Business > Economics; POLITICAL SCIENCE / Political Economy, BUSINESS & ECONOMICS / Economics / Theory, Economic theory & philosophy, Behavioural economics, Political Economy, Economic theory and philosophy, BUSINESS & ECONOMICS / Economics / Social & Behavioral