Lindblom - The Market System - Afghan Journalists' Committee

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Bones Beneath Flesh 59interchange. I grant the superficial appearance of disorderin some markets. Despite this appearance, all the noiseand movement are part of a precise, fast-moving coordination.To supply a city with fresh produce constitutes animpressive feat of coordination, yet the accomplishmentis a daily one in early morning fruit and vegetable marketsall over the world.Others see more than a superficial appearance of disorder.Through recorded history and folk memories, we are repeatedlyreminded of the depression of the 1930s in whichmany millions of people all over the world were exiled fromthe system by losing their jobs—a descent toward chaos forthem. In some nations that descent engulfed a third of thepopulation, even if most people in every society continuedto find orderly life, work, and social interchange. One mightfear that it could happen again. Perhaps. But more than ahalf century has gone by without a repetition of such a catastrophe.Societies have greatly improved their knowledgeof how to stabilize the market system through, amongother possibilities, governmental expenditure and managementof the supply of money and credit.Still, like all social institutions large and small, the marketsystem in its normal operations fails us—falters in itscoordination—on some counts. Every few years it fallsinto that abnormality called recession—small depressionsdwarfed by that of the 1930s, yet still damaging. So frequentlydoes it fall into recession that we might as well callthose abnormalities normal. <strong>The</strong>y impose hardship on millionsof people. But neither recessions nor any of the otherdefects of the market system warrant the careless assertionthat the market system produces chaos. In our time thegreatest threat of worldwide disorganization of the market
60How It Workssystem may lie in reckless banking and incompetent governmentalregulation of financial markets. Feeding on itselfand growing, disorder might spread from one country toanother, as it did from Indonesia in 1997 to other Asianeconomies, Brazil, and Russia. Even for that, however,“chaos” is hyperbole.
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1Market System AscendantThe massive
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Market System Ascendant 3abruptly r
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Market System Ascendant 5other meth
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Market System Ascendant 7obstructio
Page 18 and 19: Market System Ascendant 9seas marke
Page 20 and 21: Market System Ascendant 11Yet it mi
Page 22 and 23: Market System Ascendant 13in politi
Page 24: Market System Ascendant 15But what
Page 28 and 29: 2Society’s CoordinationHaving pre
Page 30 and 31: Society’s Coordination 21one adul
Page 32 and 33: Society’s Coordination 23taining
Page 34 and 35: Society’s Coordination 25facing a
Page 36 and 37: Society’s Coordination 27dination
Page 38 and 39: Society’s Coordination 29it is no
Page 40 and 41: Society’s Coordination 31to coope
Page 42 and 43: Society’s Coordination 33straint.
Page 44 and 45: 3Market-System CoordinationThe mark
Page 46 and 47: Market-System Coordination 37forgot
Page 48 and 49: Market-System Coordination 39Take s
Page 50 and 51: Market-System Coordination 41linked
Page 52 and 53: Market-System Coordination 43induce
Page 54 and 55: Market-System Coordination 45under
Page 56 and 57: Market-System Coordination 47for co
Page 58 and 59: Market-System Coordination 49Diffus
Page 60 and 61: Market-System Coordination 51Black
Page 62 and 63: Bones Beneath Flesh 532. To broad r
Page 64 and 65: Bones Beneath Flesh 55giving—unli
Page 66 and 67: Bones Beneath Flesh 57either for an
Page 70 and 71: 5Enterprise and CorporationIn marke
Page 72 and 73: Enterprise and Corporation 63“rel
Page 74 and 75: Enterprise and Corporation 65call m
Page 76 and 77: Enterprise and Corporation 67subscr
Page 78 and 79: Enterprise and Corporation 69lenge
Page 80 and 81: Enterprise and Corporation 71invest
Page 82 and 83: Enterprise and Corporation 73count
Page 84 and 85: Enterprise and Corporation 75and so
Page 86 and 87: Enterprise and Corporation 77of by
Page 88 and 89: Enterprise and Corporation 79fails,
Page 90 and 91: Enterprise and Corporation 81Retail
Page 92 and 93: Enterprise and Corporation 83most,
Page 94 and 95: Maximum Reach 85other, family anoth
Page 96 and 97: Maximum Reach 87pursuit of nonmater
Page 98 and 99: Maximum Reach 89Another circular in
Page 100 and 101: Maximum Reach 91Let us look at each
Page 102 and 103: Maximum Reach 93Some forms of monop
Page 104 and 105: Maximum Reach 95task of coordinatio
Page 106 and 107: 7Chosen DomainWisely or foolishly,
Page 108 and 109: Chosen Domain 99uted freely rather
Page 110 and 111: Chosen Domain 101trol of the volume
Page 112 and 113: Chosen Domain 103objects, although
Page 114 and 115: Chosen Domain 105the larger ones, m
Page 116: Chosen Domain 107us well understand
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8Quid Pro QuoThe market system work
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Quid Pro Quo 113some do not? Why no
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Quid Pro Quo 115I see the visitor t
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Quid Pro Quo 117centives require so
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Quid Pro Quo 119£35 per hour. Ten
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Quid Pro Quo 121the rule: adults wi
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9What Efficiency RequiresDespite wh
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What Efficiency Requires 125Suppose
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What Efficiency Requires 127values
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What Efficiency Requires 129The bur
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What Efficiency Requires 131society
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What Efficiency Requires 133lular p
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What Efficiency Requires 135most of
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What Efficiency Requires 137The con
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What Efficiency Requires 139corps o
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Market-System Efficiency 141terials
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Market-System Efficiency 143Motivat
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Market-System Efficiency 145product
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11InefficienciesSome attributes of
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Inefficiencies 149Enterprises impos
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Inefficiencies 151transferable fish
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Inefficiencies 153At first glance,
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Inefficiencies 155ants only under l
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Inefficiencies 157quently, most ent
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Inefficiencies 159flation. Such par
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Inefficiencies 161petent government
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Inefficiencies 163taxes, transfer p
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Inefficiencies 165ulation. It also
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Too Little,Too Late 167ute income s
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Too Little,Too Late 169sion of the
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Too Little,Too Late 171other societ
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Too Little,Too Late 173In the game,
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Too Little,Too Late 175in its own p
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Too Little,Too Late 177moves not to
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Freedom? 179cloudland of abstractio
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Freedom? 181The several advantages
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Freedom? 183(consumer sovereignty).
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Freedom? 185one proposes not to use
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Freedom? 187is simply a fact of lif
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Freedom? 189their alternatives and
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Freedom? 191I individually may be f
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14Personality and CultureI do not h
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Personality and Culture 195tion and
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Personality and Culture 197munity o
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Personality and Culture 199frozen a
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Personality and Culture 201the rule
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Personality and Culture 203ties. A
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Personality and Culture 205quacy of
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Personality and Culture 207ing the
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Personality and Culture 209efits fo
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Personality and Culture 211source o
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Persuading the Masses 213lions. Wit
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Persuading the Masses 215entreprene
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Persuading the Masses 217problem is
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Persuading the Masses 219As early a
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Persuading the Masses 221also might
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Persuading the Masses 223fenses of
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Persuading the Masses 225as are per
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Necessary to Democracy? 227cratic c
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Necessary to Democracy? 229market s
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Necessary to Democracy? 231right, t
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Necessary to Democracy? 233fend its
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Necessary to Democracy? 235The mark
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Enterprise Obstructions to Democrac
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P A R TIIIThinking About Choices
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254 Thinking About Choicesminate th
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256 Thinking About ChoicesThe welfa
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258 Thinking About Choicesprice set
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260 Thinking About Choicespositive
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262 Thinking About Choicessumer spe
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264 Thinking About ChoicesIf we con
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266 Thinking About Choicesspecial a
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268 Thinking About Choicespolicy. A
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270 Thinking About Choicesacknowled
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272 Thinking About ChoicesSequentia
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274 Thinking About Choicesman being
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276 Thinking About Choicesbedrock c
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NotesChapter 1. Market System Ascen
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Notes 281low for the inescapable (a
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Notes 283Chapter 6. Maximum DomainR
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Notes 285for mutually advantageous
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Notes 287On the alleged decline of
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Notes 289Chapter 17. Enterprise Obs
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IndexAristotle, 28, 200, 204Assault
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Index 29324; conventional efficienc
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Index 295Peacekeeping: as coordinat
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Lindblom - The Market System - Afghan Journalists' Committee

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