Lindblom - The Market System - Afghan Journalists' Committee

NotesChapter 1. Market System AscendantThe one great book on the market system, many would say, isAdam Smith’s An Inquiry into the Nature and Causes of theWealth of Nations, published in 1776. Others claim that rankinginstead for Karl Marx, Capital, volume 1 of which was publishedin 1867, volume 2 in 1885, and volume 3 in 1894, the second andthird after Marx’s death through the collaboration of Friedrich Engels.Both books are available in many editions in many languages.On the historical rise of the market system and differencesamong historians on its story, see Winifred Barr Rothenberg, FromMarket-Places to a Market Economy: The Transformation ofRural Massachusetts, 1750–1850 (Chicago: University of ChicagoPress, 1992).On privatization, see John Vickers and Vincent Wright, editors,The Politics of Privatisation in Western Europe (London: FrankCass, 1989).In applying my definition of physical planning as planningwithout money, prices, or markets, use caution. The same term iselsewhere sometimes used to denote all planning, both with andwithout money, prices, or markets—that is to say, all alternativesto the market system.For recent appraisals of the state of the market system: RobertKuttner, Everything for Sale: The Virtues and Limits of Markets(New York: Knopf, 1997); and Robert Gilpin, The Challenge ofGlobal Capitalism: The World Economy in the Twenty-First Century(Princeton, N.J.: Princeton University Press, 2000).On the European common market, see Peter B. Kenen, Economicand Monetary Union in Europe: Moving Beyond Maas-