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Information is a central concept in economics, and The Knowledge We Have Lost in Information explores its treatment in modern economics. The study of information, far from offering enlightenment, resulted in all matter of confusion for economists and the public. Philip Mirowski and Edward Nik-Khah argue that the conventional wisdom suggesting "economic rationality" was the core of modern economics is incomplete. In this trenchant investigation, they demonstrate that the history of modern microeconomics is better organized as a history of the treatment of information. The book begins with a brief primer on information, and then shows how economists have responded over time to successive developments on the concept of information in the natural sciences. Mirowski and Nik-Khah detail various intellectual battles that were fought to define, analyze, and employ information in economics. As these debates developed, economists progressively moved away from pure agent conscious self-awareness as a non-negotiable desideratum of economic models toward a focus on markets and their design as information processors. This has led to a number of policies, foremost among them: auction design of resources like the electromagnetic spectrum crucial to modern communications. The Knowledge We Have Lost in Information provides insight into the interface between disputes within the economics discipline and the increasing role of information in contemporary society. Mirowski and Nik-Khah examine how this intersection contributed to the dominance of neoliberal approaches to economics, politics, and other realms.
A media theory of markets Markets abound in media—but a media theory of markets is still emerging. Anthropology offers media archaeologies of markets, and the sociology of markets and finance unravels how contemporary financial markets have witnessed a media technological arms race. Building on such work, this volume brings together key thinkers of economic studies with German media theory, describes the central role of the media specificity of markets in new detail and inflects them in three distinct ways. Nik-Khah and Mirowski show how the denigration of human cognition and the concomitant faith in computation prevalent in contemporary market-design practices rely on neoliberal conceptions of information in markets. Schröter confronts the asymmetries and abstractions that characterize money as a medium and explores the absence of money in media. Beverungen situates these inflections and gathers further elements for a politically and historically attuned media theory of markets concerned with contemporary phenomena such as high-frequency trading and cryptocurrencies.
The SAGE Handbook of Frankfurt School Critical Theory expounds the development of critical theory from its founding thinkers to its contemporary formulations in an interdisciplinary setting. It maps the terrain of a critical social theory, expounding its distinctive character vis-a-vis alternative theoretical perspectives, exploring its theoretical foundations and developments, conceptualising its subject matters both past and present, and signalling its possible future in a time of great uncertainty. Taking a distinctively theoretical, interdisciplinary, international and contemporary perspective on the topic, this wide-ranging collection of chapters is arranged thematically over three volumes: Volume I: Key Texts and Contributions to a Critical Theory of Society Volume II: Themes Volume III: Contexts This Handbook is essential reading for scholars and students in the field, showcasing the scholarly rigor, intellectual acuteness and negative force of critical social theory, past and present.
ÔThis is an enlightening text on the subject of employment and work relations that will be useful for students in economics, specifically those studying labor relations.Õ Ð Lucy Heckman, American Reference Books Annual 2012 The broad field of employment relations is diverse and complex and is under constant development and reinvention. This Research Handbook discusses fundamental theories and approaches to work and employment relations, and their connection to broader political and societal changes occurring throughout the world. It provides comprehensive coverage of work and employment relations theory and practice. This up-to-date research compendium has drawn together a range of international authors from diverse disciplinary backgrounds. There are chapters from labour historians, theoreticians, more mainstream industrial relations scholars, sociologists, organizational psychologists, geographers, policy advisors, economists and lawyers. At the heart of each chapter is the notion that the world of work and employment relations has changed substantially since the halcyon days of IR, throughout the Dunlop Era of the 1950s. However, many areas of enquiry remain, and more questions have developed with society and technology. This Handbook reflects this view. As the field of study and practice continues to evolve throughout the twenty-first century, what lessons have we learnt from the past and what can we expect in the future? Academics and postgraduate students researching industrial relations, human resource management, employment relations, industrial sociology and sociology of work will find this important resource invaluable.
Verbal Glimpses Into Fifteen Hundred Years of Our Legal History
Author: Alfred H. Knight
This book is a compilation of legal and law-related statements that have defined and characterized our legal system over the centuries. But the reader will quickly recognize that it is not a textbook in disguise. The quotations, and the actions and ideas they present and represent were selected by purely personal criteria: the author found them fascinating, important, or revealing. They range from history-changing statements (Henry II's "will no one rid me of this turbulent priest!") to purely mythological encounters (Lincoln's cross-examination of "Sovine" about the phase the moon was in when a murder took place) to royal chit-chat (a devastating remark a high-born lady made to the fugitive King James II which can be viewed as the final word on English royal tyranny) to an apology made in a casual encounter on an American street that symbolized the healing of a terrible cultural wound. The hope is to convey, not a rigid history, but a random flavor of how the law has been shaped by calculated, casual, powerful, and even silly words, uttered for the ages or merely for the moment. This disparate verbal collection tells us that our legal system is not like a carefully sculptured statue, but like a human being, is composed of all that it has known and done and said.
For decades, the market, asset, and income approaches to business valuation have taken center stage in the assessment of the firm. This book brings to light an expanded valuation toolkit, consisting of nine well-defined valuation principles hailing from the fields of economics, finance, accounting, taxation, and management. It ultimately argues that the "value functional" approach to business valuation avoids most of the shortcomings of its competitors, and more correctly matches the actual motivations and information set held by stakeholders. Much of what we know about corporate finance and mathematical finance derives from a narrow subset of firms: publicly traded corporations. The value functional approach can be readily applied to both large firms and companies that do not issue publicly traded stocks and bonds, cannot borrow without constraints, and often rely upon entrepreneurs to both finance and manage their operations. With historical side notes from an international set of sources and real-world exemplars that run throughout the text, this book is a future-facing resource for scholars in economics and finance, as well as the academically minded valuation practitioner.