Albert O. Hirschman makes a basic distinction between alternative ways of reacting to deterioration in business firms and, in general, to dissatisfaction with organizations: one, "exit," is for the member to quit the organization or for the customer to switch to the competing product, and the other, "voice," is for members or customers to agitate and exert influence for change "from within." The efficiency of the competitive mechanism, with its total reliance on exit, is questioned for certain important situations. As exit often undercuts voice while being unable to counteract decline, loyalty is seen in the function of retarding exit and of permitting voice to play its proper role. The interplay of the three concepts turns out to illuminate a wide range of economic, social, and political phenomena. As the author states in the preface, "having found my own unifying way of looking at issues as diverse as competition and the two-party system, divorce and the American character, black power and the failure of 'unhappy' top officials to resign over Vietnam, I decided to let myself go a little."

    But other classics are written in a white heat during the moment of discovery, with prose that shines forth like the sun pouring into the window of a time when a new understanding brings in the world into focus for the first time. The Market for Liberty is that second type of classic, and what a treasure it is. Written by two authorsMorris and Linda Tannehilljust following a period of intense study of the writings of both Ayn Rand and Murray Rothbard, it has the pace, energy, and rigor you would expect from an evening's discussion with either of these two giants. More than that, these authors put pen to paper at precisely the right time in their intellectual development, that period rhapsodic freshness when a great truth had been revealed, and they had to share it with the world. Clearly, the authors fell in love with liberty and the free market, and wrote an engaging, book-length sonnet to these ideas. This book is very radical in the true sense of that term: it gets to the root of the problem of government and provides a rethinking of the whole organization of society. They start at the beginning with the idea of the individual and his rights, work their way through exchange and the market, expose government as the great enemy of mankind, and thenand here is the great surprisethey offer a dramatic expansion of market logic into areas of security and defense provision. 169 page softcover

    Cleon Skousen - A Review and Commentary on Dr. Carroll Quigley's book: A Tragedy and Hope- the History of the World in Our Time .

    This book is concerned with the study of collective preference, in particular with the relationship between the objectives of social action and the preferences and aspirations of society's members. Professor Sen's approach is based on the assumption that the problem of collective choice cannot be satisfactorily discussed within the confines of economics. While collective choice forms a crucial aspect of economics, the subject pertains also to political science, the theory of the state, and to the theory of decision procedures. The author has therefore used material from these disciplines, plus philosophical aspects from ethics and the theory of justice.

    Since publication of the third edition of Juran's classic in 1974, the entire field of quality control has undergone a series of unprecedented changes-due largely to (1) intensified competition, which has resulted in huge loses in market shares and massive exports of jobs and (2) expanded government regulation, with accompanying growth in the number of lawsuits and the size of the awards. This updated and revised new edition offers, in ready-reference form, the know-how managers need in industry today-and in the years ahead-to keep their quality competitive at minimum cost.

    This new edition, including a new foreword by Nobel laureate Eric Maskin, reintroduces Arrow’s seminal book to a new generation of students and researchers."Far beyond a classic, this small book unleashed the ongoing explosion of interest in social choice and voting theory. A half-century later, the book remains full of profound insight: its central message, ‘Arrow’s Theorem,’ has changed the way we think.”—Donald G. Saari, author of Decisions and Elections: Explaining the Unexpected

    Lerner's utilitarian argument for perfect equality in the distribution of income and his neo-Keynesian exposition of the principles of 'functional finance' are also noteworthy. "Lerner's best book became and remains the most comprehensive non-mathematical text on welfare economics." The New Palgrave

    

    Investing, Finance, How-To

    Brian Barry's short, provocative book played no small part in the debate that precipitated this shift. . . . Without reservation, Barry's treatise is the most lucid and most influential critique of two important, competing perspectives in political analysis: the 'sociological' school of Talcott Parsons, Gabriel Almond, and other so-called functionalists; and the 'economic' school of Anthony Downs and Mancur Olson, among others."—Dennis J. Encarnation, American Journal of Sociology

    

    It demonstrates that the period 1970 to 1980 will be particularly crucial for Indonesia and will require careful social and economic planning. The author, who is acknowledged to be Indonesia's foremost economist demographer, amasses and corrects population estimates made during the era of Dutch rule, including material from as early as 1775. He discusses the census of 1930 and the impact of events of the 1940's - World War II, the Japanese occupation, and the Indonesian revolution - on population trends. He points out, for example, that low birth and high mortality rates during the subsequent period, suggest that the mean age of Indonesia's working age population is undergoing a radical rejuvenation. Using the census of 1961 as a base, Mr. Widjojo projects Indonesia's population to 1991, forecasting the probable growth rates of the total population and of its various components. He shows how the population breaks down into extremely uneven age groups and suggests the serious consequences of this situation. He emphasizes that the dramatic increases in the number of 15-to-24-year-olds that occurred in the population during the second half of the 1960's and that are projected for the 1970's make careful preparation for the future imperative if crises in the labor market and in the field of education are to be dealt with successfully. Population Trends in Indonesia, now brought back to life as a member of Equinox Publishing's Classic Indonesia series, serves as a model for future research and proves invaluable to economic and social planners working throughout the developing world. Widjojo Nitisastro, former Dean of the Faculty of Economics at the University of Indonesia, was Chairman of President Suharto's Economic Team and of the National Development Planning Agency. A graduate of the University of Indonesia, Professor Widjojo received a Ph.D. degree in Economics from the University of California at Berkeley.

    V. Stalin's Selected Works in English comprises some of the most important works of the author. The works included in this collection follow in chronological order with the exception of the first two writings dedicated to V. I. Lenin. The theoretical works of J. V. Stalin occupy an important place in the treasury of Marxism-Leninism; they put J. V. Stalin in the ranks of the most outstanding Marxist theoreticians.

    In this pioneering work, Guido Calabresi develops a framework for evaluating different systems of accident law. Defining the goal of accident law as the maximum reduction of accident and accident avoidance costs that can be achieved fairly, he examines ten political and economic choices implied in various approaches to reducing these costs. Calabresi then considers two fundamental problems all systems of accident law must face: who should be held responsible for accident costs, and how should they be valued? He analyzes the fault-insurance system now widely used and finds it wanting on grounds both of cost reduction objectives and fairness. In conclusion, he discusses recent proposals for reform of the law, points out questions they raise, and ends by indicating the two he thinks most likely to prevail and the fundamental conflict between them.“Calabresi’s book is most significant for its first-rate combination of modern economic analysis and legal policy. The methodology and underlying principles extend far beyond the particular subject matter of accident law to many other legal areas that could benefit from economic analysis. In turn, some economic analyses may become the richer for the discussion in this book. It is truly one of those rare important volumes.”—Gerald M Meier

    Encompassing the world of American maritime expansion and enterprise from the American Revolution to the Civil War, "The Ice King" follows Tudor and other strong willed members of his family through economic and personal successes and many failures on the way to "ineveitable and unaviodable" success.

    CONTENTS: Irving Fisher & the Quantity Theory; The Keynesian Revolution; The Counter-Revolution; Key Propositions of Monetarism; Concluding Cautions.

    

    

    

    

    Routledge is an imprint of Taylor & Francis, an informa company.

    Social, cooperative behavior is the continuation and development of the maternal-offspring relationship; it is therefore as old as life itself, and in spite of recent appearances to the contrary the movement of evolution has, in man, been increasingly directed toward the fuller development of cooperative behavior. Cooperative behavior has great survival value. When social behavior is not cooperative it is diseased behavior. The dominant principle which informs all behavior which is biologically healthy is love. Love, social behavior, cooperation, and security mean very much the same thing. Without love the other three cannot exist.The Direction of Human DevelopmentAshley Montagu