Found 7 article(s) for author 'Capitalism'

Firms, crowds, and innovation

Firms, crowds, and innovation. Karim Lakhani, May 2017, Paper, “The purpose of this article is to suggest a (preliminary) taxonomy and research agenda for the topic of “firms, crowds, and innovation” and to provide an introduction to the associated special issue. We specifically discuss how various crowd-related phenomena and practices–for example, crowdsourcing, crowdfunding, user innovation, and peer production–relate to theories of the firm, with particular attention on “sociality” in firms and markets. We first briefly review extant theories of the firm and then discuss three theoretical aspects of sociality related to crowds in the context of strategy, organizations, and innovation: (1) the functions of sociality (sociality as extension of rationality, sociality as sensing and signaling, sociality as matching and identity), (2) the forms of sociality (independent/aggregate and interacting/emergent forms of sociality), and (3) the failures of sociality (misattribution and misapplication). We conclude with an outline of future research directions and introduce the special issue papers and essays.Link

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Trump’s Carrier deal could permanently damage American capitalism

Trump’s Carrier deal could permanently damage American capitalism. Lawrence Summers, December 2, 2016, Opinion, “There are many aspects of the economic policy of the new administration that I find misguided. But I am most troubled by what President-elect Donald Trump did with Carrier to hold on to an extra 700 jobs in Indiana. Ronald Reagan’s response to the air traffic controllers’ strike was a small act that had profound consequences. I fear in a similar way that the negotiation with Carrier is a small thing that is actually a very big thing — a change very much for the worse with regards to the operating assumptions of American capitalism.Link

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Shared Capitalism: What is it and What Does it Do?

Shared Capitalism: What is it and What Does it Do? Richard Freeman, December 2016, Paper, “We all know that people respond to incentives. Economics 101 teaches that workers put forth greater effort when these efforts are rewarded financially, and top talent tends to gravitate toward jobs and firms where rewards are geared to performance. For the most part, however, the research that’s led us to these conclusions has focused on performance incentives for individual workers, such as piece rates, merit pay, individual commissions, or bonuses.Link

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Varieties of Capitalism in Light of the Euro Crisis

Varieties of Capitalism in Light of the Euro Crisis. Peter Hall, August 2016, Paper, “The Euro crisis began, at least in symbolic terms, on November 5, 2009 when a new Prime Minister announced that the Greek budget deficit would be 12.7 percent of GDP, more than three times the amount projected for that year by the outgoing government. This sparked a crisis of confidence in sovereign debt and European banks that forced Greece, Ireland, Portugal, Spain and Cyprus into torturous negotiations with the European Union, followed by bail-out programs that imposed various combinations of fiscal austerity and structural reform on them. Almost seven years later, the effects of the crisis are still palpable. The Greek economy has lost a quarter of its value; levels of unemployment are close to 20 percent in parts of southern Europe; and the average level of economic activity in the Eurozone as a whole has only now regained its level before the global financial crisis of 2008-09.Link

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Varieties of Capitalism and the Euro Crisis

Varieties of Capitalism and the Euro Crisis, Peter A. Hall, November 2014, Paper, This article examines the role played by varieties of capitalism in the euro crisis, considering the origins of the crisis, its progression, and the response to it. Deficiencies in the institutional arrangements governing the single currency are linked to economic doctrines of the 1990s. The roots of the crisis are linked to institutional asymmetries between political economies. Northern European economies equipped to operate export-led growth models suitable for success within a monetary union are joined to southern economies whose demand-led growth models were difficult to operate successfully without the capacity to devalue. The response to a tripartite crisis of confidence, debt, and growth is explained in terms of the interaction of institutions, interests, and ideas, and its importance for the future of European integration is exploredLink

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