Power and Prosperity Outgrowing Communist and Capitalist Dictatorships review Õ eBook or Kindle ePUB


  • Paperback
  • 272
  • Power and Prosperity Outgrowing Communist and Capitalist Dictatorships
  • Mancur Olson
  • English
  • 10 October 2019
  • 9780465051960

10 thoughts on “Power and Prosperity Outgrowing Communist and Capitalist Dictatorships

  1. says:

    A bit like Thinking Fast and Slow but with a lot less rambling and almost zero cross referencing in the main text this is a book that's meant to summarise a career's findings It's written by somebody who both knows

  2. says:

    Both force and voluntary exchange are present in every social order The challenge of designing a successful social order in Olson's view is to give the power to make collective decisions to an encompassing interest rather than to a special interest Olson develops the idea of special and encompassing interests in the following way I

  3. says:

    Like many of the books I pick up I came to this one because the author Mancur Olson was mentioned in several bo

  4. says:

    Olson examines what it takes for societies to achieve economic prosperity by studying pre capitalist capitalist communist and post communist economies In all of them markets are ubiuitous but in only some capitalist economies is wealth distrib

  5. says:

    A deep and fascinating study of the development of power and of the resons why post Communist economies failed to live up to their promise The internal logic of Olson's theory is deeply compelling but I am afraid that his view despite its strong claims to realism is still somewhat Pollyannaish he assumes self interest and perfect rationality on the part of all actors and while the former is certainly realistic

  6. says:

    By a Nobel prize winning economist this text reuired for my interdisciplinary International Relations major at the College of William and Mary explains the dynamics that lead civilization to arise from anarchy the forces that cause communism and democracy outperform and euilibriums to keep in check A critical manual for any aspiring

  7. says:

    The book tries to use the logic outlined in the logic of collective action to discuss soviet politics I think the book is pretty great in many respects and has a very clear argumentation style That said I don't feel like he argues against the Coasian paradigm very clearly The technical exposition with the graphs also didn't seem very well labeled it would have been better in an appendix with technical detail Pr

  8. says:

    Fascinating though difficult read Got me imagining what an Olsonic analysis of the current budgetdebt crisis might look like particularly given his critiue of special interests and the impossibility of rational collective action by small groups

  9. says:

    So what do you do if you're fascinated by science but are incapable of scientific rigour you're fascinated by math but you're crap at it and you're fascinated by philosophy but are incapable of thinking logically Easy become an economist

  10. says:

    Read this book for a graduate level public choice economics course it was fairly theoretical and I discovered that after discussing concepts in class I was able to better understand the book

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Mancur Olson ✓ 3 read & download

Power and Prosperity Outgrowing Communist and Capitalist Dictatorships

Why do some economies do Prosperity Outgrowing ePUB #180 better than others How does society encourage the kind of market economy that generates continually increasing incomes How do particular styles of Power and MOBI #224 government affect economic performance World renowned economist Mancur Olson tackles these uestions and others in wha Like many of the books I pick up I came to this one because the author Mancur Olson was mentioned in several bookspapers I ve been reading First he was mentioned in a book on lobbying I m reading as representing a school of political economy Upon googling him I found that he had written one of the first books on the economic logic of collective action the topic of one of my first year PhD exams back in 1965 I found the book to be interesting on several surface and internal counts On a surface level Olson wrote this book in part because he couldn t answer a journalist s uestions about whether Russia would have been better off economically with a dictatorship in the early 90s after the USSR fell He also wasn t sure why the Fascist economies Germany Japan Italy had economically thrived after WWII while the communist countries of Eastern Europe and Russia had struggled mightily with the fall of the Soviet Union I ve always found one of the glaring oddities of economics even as a PhD student to be that it studies economics largely in a vacuum without regard to governments or policy and Olson in this 2000 book takes a serious shot at remedying this imbalance As such I loved the ambition of the author to try to come up with a theory of everything of sorts that could explain both public and private sector entities The result of Olson s work was a book that attempted to answer 4 primary uestions I ve related each uestion below and will summarize Olson s answer and my own thoughts on the matters at hand1 Why are markets ubiuitous but only some countries transition from bazaars and peddlers to industry I thought that this was a really interesting uestion Anyone who s traveled to a developing country like India or Uganda sees ubiuitous street vendors and peddlers selling everything and anything on the sidewalk yet not all of these countries generate consistently rising incomes and prosperity Olson posits that some markets are spontaneous and even irrepressible in the sense that humans will often engage in some trade regardless of what the government does His analysis of why bazaars and peddlers seemingly arise like weeds in inhospitable climates suggests that these don t rely on individual rights like property rights the right to own things without them being stolen or rights to a fair trial More complex wealth inducing markets are identified by Olson as socially contrived markets or markets that rely on courts to adjudicate long term contracts and property that preclude theft by counterparties Put another way he suggests that democratic governments and even the Fascist ones previously mentioned tended to protect these rights and not allow thievery to exist as a norm without punishment As such he suggests that democratic countries facilitate complex trade by protecting rights while also explaining how countries like China manage to see high growth without democracy This jumps into the next key uestion2 Is dictatorship better than democracy at growth in poor countries Olson seems to suggest that democracy tends to encourage stable individual rights than dictatorships but doesn t preclude the possibility that dictatorships can facilitate strong economic performance if they too adopt these practices towards property and contract A uick example will be helpful here If a bank wants to finance a large long term project with a lot of vendors like say the building of a cathedral it needs to be able to enter into debt contracts with a general contractor GC without worry that the GC will just take the money and run ie contract rights Further when the GC uses the capital to buy a specialized machine to treat stained glass for instance it needs to be confident that the machine can t be repossessed at any time by the government property rights As such Olson identifies socially contrived markets as those markets that depend on contract and property rights 3 Why was there so much corruption in the centrally planned post communist economies even after the Iron Curtain fell This was another interesting point Olson suggests that centrally planned economies end up distorting markets so much that just to achieve an order that makes sense firms have to engage in corruption to move things along To bring this to life if the central government gives 2 steel firms 2 different uantities of an input say copper A both firms have an incentive to horde the material and ask for than they need and B When circumstances change as they inevitably do reuiring that one firm get copper they ll have to trade with each other under the table black market probably with a kickback to bribe the authorities from reporting them As such when the Iron Curtain fell it revealed massive unheard of in the West amounts of corruption that pervaded every aspect of society Rather than just bad actors Olson showed corruption to be an endemic property of Soviet style autocracy that wasn t present to the same extent in Fascist countries post WWII4 Why did Fascist countries develop so uickly after WWII Japan Germany Italy yet post communist countries in Eastern Europe and Russia struggled so much I ve kind of answered this above but Olson boiled it down to the incredible corruption brought on by a massively distorting Communist system as well as bad assumptions on the part of Western analysts about what privatization would bring Olson points out that rather than driving efficient capital allocation as they had expected making these previously state owned conglomerates privately owned with previous bureaucrats turning into CEOs simply created a class of oligarchs competing with the same kind of incentives that prevailed in the previous regime because little had changed with regard to property and contract rights The court system in Russia is to this day notoriously politicized and full of extralegal carveouts for the powerful so it was unlikely that they d see the same economic growth as Germany and Japan for instance whose societies were dramatically overhauled with Western institutions5 Other interesting elements from the book Olson distinguishes between roving vs stationary bandits to describe why so many global societies had experimented with autocrats in their history Basically he suggests that as agricultural made societies stationary it behooved roving bandits to simply settle down monopolize coercive force and get taxes from townspeople in exchange for protection from roving bands and other autocrats rather than stealing from them outright It s useful because it underlines the lack of legitimacy of autocracy they re not legitimate leaders in a democratic sense but stationary bandits Finally he talks about their incentives to tax up to the point that taxing won t make them wealthier as they re pretty purely self seeking while democracies may tax somewhat lower depending on the strength of the governing majorities encompassing interest He does point out that democracies may be overrun by interest groups which have incentives to distort democracy in their own favor since they have a lot to gain and almost nothing to lose from lobbying These ideas are formalized with economic logic6 ConclusionThe WSJ wrote of this book that Olson s analysis is fascinating Power and Prosperity is an important book written with clarity and verve Overall I think this is a pithy and apt description on all counts While the book isn t for the faint of heart as it s primarily meant to influence an economist audience anyone can read it and gain from Olson s insightful writing My only critiue is that it s incredibly simplifying to describe these concepts using profit maximization and assumptions ported without dramatic adaptation from microeconomic theory but it s a testament to these incentives strength that his theories still describe a lot of behavior in a way that isn t easy to capture without incentive based arguments

summary Ç eBook or Kindle ePUB ✓ Mancur Olson

T will surely be regarded as his magnum opus Olson contends that governments and Prosperity Outgrowing PDFEPUB #231 can play an essential role in the development of markets Reliable enforcement of private contracts and protection of individual rights to property depend on governments strong enough not and Prosperity Outgrowing Communist an By a Nobel prize winning economist this text reuired for my interdisciplinary International Relations major at the College of William and Mary explains the dynamics that lead civilization to arise from anarchy the forces that cause communism and democracy outperform and euilibriums to keep in check A critical manual for any aspiring dictator or democrat NITRO: The Incredible Rise and Inevitable Collapse of Ted Turner's WCW regarded as his magnum opus Olson contends that governments and Prosperity Outgrowing PDFEPUB #231 can play an essential Wild Man Creek (Virgin River, role in the development of markets Reliable enforcement of private contracts and protection of individual The Non-Designer's Design Book (4th Edition) rights to property depend on governments strong enough not and Prosperity Outgrowing Communist an By a Nobel prize winning economist this text Homewrecker reuired for my interdisciplinary International Relations major at the College of William and Mary explains the dynamics that lead civilization to arise from anarchy the forces that cause communism and democracy outperform and euilibriums to keep in check A critical manual for any aspiring dictator or democrat

read Power and Prosperity Outgrowing Communist and Capitalist Dictatorships

D Epubto undermine them His exploration of market augmenting governments will stand as a cutting edge work on economic growth and provide a useful framework in which to consider the Asian financial crisis and its aftermath As Susan Lee noted in Forbes his pioneering insights might have won a Nobel Prize for Olson had he lived a bit longer Fascinating though difficult read Got me imagining what an Olsonic analysis of the current budgetdebt crisis might look like particularly given his critiue of special interests and the impossibility of rational collective action by small groups


About the Author: Mancur Olson

American economist and social scientist Prosperity Outgrowing ePUB ´ who at the time of his death worked at the University of Maryland College Park Among other areas he made contributions to Power and MOBI :à institutional economics on the role of private property taxation public goods collective action and contract rights in economic development Olson focused on the logical basis of interest group and Prosperity Outgrowing PDF/EPUB ç membership and participation The re.