Wealth, Welfare and the Global Free Market (Corporate Social Responsibility)

Cover......Page 1
Contents......Page 6
Introduction......Page 12
Systems and People......Page 20
What is Economics?......Page 23
Economic Systems......Page 24
Market Economies......Page 27
Capitalism......Page 31
Socialism......Page 37
Change and Transformation in Economic Systems......Page 39
The Rivalry between Capitalism and Socialism......Page 40
Change in the Competitive Environment – The New Economic Design......Page 42
Conclusion......Page 43
Economic Systems and People......Page 46
Definition of Human Beings in Capitalism......Page 49
Definition of People in Production......Page 53
Definition of People as Consumers......Page 57
The Results of these Assumptions......Page 60
The Dilemma: Producing and Consuming People......Page 62
Other Belief Systems’ Perception of People......Page 63
Summary......Page 64
3 Competition:The Driving Force of Economics......Page 66
Capitalism and Competition......Page 67
Differences in Practices......Page 69
Other Types of Behavior......Page 70
Competition in Anatolian Culture......Page 72
Propositions of Islam......Page 75
Conclusion......Page 77
The Competitive Market Economy......Page 80
Markets and Prices......Page 86
The Globalization of Markets......Page 92
Parities Among the Prices......Page 93
Prices Determined Outside the Markets......Page 95
Summary......Page 96
5 The First Concession of Market Economies......Page 98
Wage Determination in Labor Markets: The Collective Bargaining System......Page 99
Problems of the Collective Bargaining System......Page 101
The Balance of Power in Other Markets......Page 103
Conclusion......Page 106
6 Misguidance of the Markets and Crises......Page 108
Problems in Exchange Rate Determination......Page 109
Interest Rates and Price of Risk......Page 115
Market Gains......Page 119
Conclusion......Page 122
7 Costs and Benefits that are not Reflected in Markets......Page 124
Social Costs not Reflected in Markets......Page 125
Human Beings as a Cost Factor......Page 130
Social Benefits......Page 134
Conclusion......Page 136
8 Demand and Production: The Theory and the Reality......Page 138
Demand Theory in Economic Science......Page 139
Assumptions of Demand Theory......Page 141
Utility and Needs......Page 143
Production Theory in Economic Science......Page 146
Production Function......Page 150
Recent Developments in Production and Production Factors......Page 152
Production and Income Sharing......Page 155
Summary......Page 158
9 What is the Objective: Profit or Income?......Page 160
The Definition of Profit......Page 161
The Definition of Value Added......Page 163
The Conflict between Profit and Value-added Maximization......Page 164
Labor’s Replacement by Robots......Page 165
Re-engineering......Page 167
Privatization Practices......Page 169
Globalization Trends......Page 172
Conclusion......Page 173
10 Foreign Trade......Page 176
The Foreign Trade Model......Page 178
The Law of Comparative Advantages......Page 179
Price Impositions in Foreign Trade......Page 180
The Lack of Mobility of Production Factors......Page 181
Misunderstanding Prices......Page 182
Imbalance in Bargaining Power......Page 183
Existence of Non-tradable Products......Page 184
Conclusion......Page 185
Competitive Conditions......Page 188
The General Agreement on Tariffs and Trade (GATT)......Page 190
The Missing Pillar of the New Economic Design: MAI......Page 196
Globalization and Trade Blocs......Page 199
The Objectives of the New Economic Design......Page 200
The First Phase of the New Economic Design......Page 201
The Second Phase of the New Economic Design......Page 204
Conclusion......Page 209
12 An Interrogation of Capitalism......Page 210
Capitalism Turning into a Religion......Page 211
The Joy of Victory......Page 212
The Point Now Reached......Page 213
Resistance to Globalization......Page 214
Opposition Against the Global Companies......Page 216
An Interrogation of Capitalism......Page 219
The Post Autistic Economics Movement......Page 220
The Santa Fe Institute......Page 222
Capitalist Companies’ Search for Solutions......Page 223
The Insistence on Capitalism for Survival......Page 225
Inconsistent Principles and the Conflicting System......Page 228
Epilogue......Page 233
Index......Page 236