Dynamic Markets and Conventional Ignorance The Great American Dilemm
In this follow up to From a Market Economy to a Finance Economy, Samli reflects on his more than half a century of economic experience and research, maintaining that financiers, the government and many decision makers in both politics and the economy, do
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Dynamic Markets and Conventional Ignorance The Great American Dilemma
A. COSKUN SAMLI
DYNAMIC MARKETS AND CONVENTIONAL IGNORANCE
Copyright © A. Coskun Samli, 2014. Softcover reprint of the hardcover 1st edition 2014 978-1-137-37255-0 All rights reserved. First published in 2014 by PALGRAVE MACMILLAN® in the United States— a division of St. Martin’s Press LLC, 175 Fifth Avenue, New York, NY 10010. Where this book is distributed in the UK, Europe and the rest of the world, this is by Palgrave Macmillan, a division of Macmillan Publishers Limited, registered in England, company number 785998, of Houndmills, Basingstoke, Hampshire RG21 6XS. Palgrave Macmillan is the global academic imprint of the above companies and has companies and representatives throughout the world. Palgrave® and Macmillan® are registered trademarks in the United States, the United Kingdom, Europe and other countries. ISBN 978-1-349-47617-6 ISBN 978-1-137-37021-1 (eBook) DOI 10.1057/9781137370211 Library of Congress Cataloging-in-Publication Data Samli, A. Coskun. Dynamic markets and conventional ignorance : the great American dilemma / A. Coskun Samli. pages cm Includes bibliographical references and index. 1. Capitalism—United States. 2. Distribution (Economic theory) I. Title. HB501.S27677 2013 330.12⬘20973—dc23
2013030932
A catalogue record of the book is available from the British Library. Design by Newgen Knowledge Works (P) Ltd., Chennai, India. First edition: January 2014 10 9 8 7 6 5 4 3 2 1
This book is dedicated to those who believe the market system can be activated to benefit the whole society.
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Contents
List of Exhibitss
ix
Preface
xi
Acknowledgments
xv
About This Book
xvii
Introduction 1 What Is a Market Economy?
1 5
2 Financial Conservatism Does Not Work
17
3 Industrial Giants Are a Major Block
25
4 The Needed Change in the Orientation
37
5 A Totally Unknown Concept: Marketing Multiplier
49
6 Activating the Marketing Multiplier
59
7 Government: A Leader and a Partner
71
8 Managing the Outsourcing
81
9 Innovation Is the Answer
95
Appendix to Chapter 9: Dependence on Renewable Energy for Sustainability 10 What about Infrastructure? Lessons from International Experiences
109 117
viii
Contents
Appendix to Chapter 10: Infrastructure Must Be Taken Seriously
135
11 What Is at Risk?
139
12 Returning to the Market Economy
151
13 The Future of the American Market System
163
14 Needed: A Constructive Vision
171
Postscript
177
About the Author
179
References
181
Index
187
Exhibits
1.1 2.1 3.1 3.2 4.1 4.2 5.1 5.2 6.1 6.2 6.3 6.4 7.1 8.1 8.2 8.3 8.4 9.1 9.2 9.3 9.4 9-A 10.1
The finance economy in short How innovations are blocked Anti-economic progress practices Organizational anti-economic progress What should the government do to use the almost dormant market mechanism Needed changes in corporate orientation A simple illustration of a multiplier Innovation-based marketing multiplier The search for key industr
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