Rethinking the Market Economy

The 2008 crisis has shaken public trust in the market economy and several economists believe that, to drive recovery, new models of capitalism must be embraced. Will society develop and implement a new balance between state, business and society? How can we amend the capitalist system dominated by the neoliberal doctrine and adopt economic mutations without altering the core principles of a free market economy? Rethinking the Market Economy explores the changing socio-economic and technological landscape of the twenty first century and what it means for the firm. The lack of vision of tomorrow's political economy system generates uncertainties and undermines the democratization process of Europe and the World Economy. This book adopts an industrial economic approach and is clearly business-oriented, whilst proposing a road map leading to the adoption of a 'societal market economy' model as an appealing and politically acceptable 'third way' between capitalism and socialism. The main shortcomings of conventional capitalism are presented with their managerial implications for the market-oriented firm. The analysis is transversal and intersects with different kinds of disciplines: economy, sociology, political science, social psychology, strategic management, giving to the reader an interdisciplinary and comprehensive coverage of the topic. This book is well documented and provides a good coverage of the academic and professional related literature.