Buy custom Whence Reform? A Critique Of The Stiglitz Perspective
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Business
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Number of pages / Number of words: |
54 / 15097 |
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The result has been a massive fall in
economic activity2. This occurred, says Stiglitz, partly because superficial modern
economics textbooks informed the thinking of the advisers, rather than the deeper and
more subtle Austrian approaches of Hayek and Schumpeter, or more advanced and
rigorous modern journal articles of such authors as Stiglitz himself...
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Moreover, we believe that some of the points Stiglitz makes are
important for understanding what has happened in the transition (and indeed what
occurred during the development of capitalism in West). This is particularly the case
when he points, in the context of corporate governance, to the impossibility of quickly
building âlong agency chainsâ...
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