Samuel Bowles: Reference

Samuel Bowles is American economist. Explore interesting quotes on reference.

Samuel Bowles: 20 quotes0 likes

“The first dimension is called "competition," and it refers to that aspect of an economic system in which exchanges of one sort or another play the most important part. In capitalism, of course, competition and exchange occur primarily in markets.”

Source: Understanding Capitalism: Competition, Command, and Change, 2005, p. 54

“The second dimension is called "command," and it refers to those aspects of economic relationships that involve power, coercion, hierarchy, subordination, or authority. In capitalist (and many other) societies, command is a central aspect of the workplace, the household, and the government. It concerns relations among nations, classes, races, men, women, and other groups in society as well.”

Source: Understanding Capitalism: Competition, Command, and Change, 2005, p. 54

“The point is that coordination can be achieved by either of two means: (1) with no one dictating anyone else's precise behavior, but everyone observing a set of rules, or (2) with someone (or perhaps more than one) directing the behavior of others. We refer to the first of the two means as coordination by rules and the second as coordination by command.”

Source: Understanding Capitalism: Competition, Command, and Change, 2005, p. 202

“Writers after Coase have referred to the authority structure of the firm as a "visible hand" that works in combination with Smith's invisible hand. The everyday fact that employers exercise power over their employees — not news to most employees — had been a central theme in Marx's economics, but it was (and generally continues to be) overlooked by most neoclassical economists. Early in his studies Coase noted the similarity between the hierarchical organization of capitalist firms, with their reliance on command relations, and the then-existing system of centralized economic planning in the Communist countries, where production was carried out in accordance with orders from higher authorities and where market competition played little role.”

Source: Understanding Capitalism: Competition, Command, and Change, 2005, p. 85