Merits and Limits of Markets

1. Front Matter

   Pages i-x

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2. Individualism in a Social Context

   1. Front Matter

      Pages 1-1

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   2. Self-Interest, Communalism, Welfarism

      • Gary B. Madison

      Pages 3-27

   3. Communitarian Approaches to the Economy

      • David M. Anderson

      Pages 29-52

   4. Rational Choice and Human Agency in Economics and Sociology: Exploring the Weber-Austrian Connection

      • Peter J. Boettke

      Pages 53-81

   5. The Role and Evolution of Beliefs, Habits, Moral Norms, and Institutions

      • Stefan Voigt, Daniel Kiwit

      Pages 83-108

3. The Frontiers of Markets

   1. Front Matter

      Pages 109-109

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   2. Privatization of Legal and Administrative Services

      • Bruce L. Benson

      Pages 111-139

   3. Competition in the Market for Health Services and Insurance, with Special Reference to the United States

      • Mark V. Pauly

      Pages 141-160

   4. Supplying and Financing Education: Options and Trends under Growing Fiscal Restraints

      • Edwin G. West

      Pages 161-184

   5. Subsidization and Promotion of the Arts

      • Alan Peacock

      Pages 185-208

4. Normative Issues of Global Trade

   1. Front Matter

      Pages 209-209

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   2. A Global Competition Policy for a Global Economy

      • Dennis C. Mueller

      Pages 211-235

   3. International Trade in “Bads”

      • Anne O. Krueger, Chonira E. Aturupane

      Pages 237-253

   4. Social Standards and Social Dumping

      • Deepak Lal

      Pages 255-274

5. Back Matter

   Pages 275-279

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The 1997 Symposium of the Egon-Sohmen-Foundation, which gave rise to this book, took place in the United States, on the East Coast between New Y C)rk and New Haven, more precisely in Stamford (Conn.). The original choice had been a place close to Yale University, where Egon Sohmen taught economics from 1958 to 1960, subsequent to his period at MIT. But the hotel in New Haven was closed down by a new owner-to pass through a process of creative destruction. Change of ownership-on a large scale and as a transition from public to private hands-had been the topic of the preceding Egon­ Sohmen-Symposium (in Budapest in 1996) published under the head­ ing: Privatization at the End of the Century (Springer-Verlag, 1997). Yet mere change of ownership, some of us at the Foundation felt in subsequent months, was too narrow a focus to properly deal with the movement under consideration: a transition of ownership together with a general move towards a competitive market system charac­ terized by global openness, uncertainty, decentralized risk-bearing, and the increasing importance of information and innovation.

• Education
• Frontiers of Markets in Legal Services
• Global economy
• Individualism in a Social Context
• Normative Issues of Global Trade
• international trade
• issue
• philosophy

• Kiel Institute of World Economics, Kiel, Germany

  Herbert Giersch

Policies and ethics