Neglected elements in vertical integration analysis: The case of retail price preticketing

The “conventional wisdom” with respect to the advantages to be gained through vertical integration are highly overrated. That associated with increased efficiency tops the list. Also, those advocating vertical integration have tended to ignore the preticketing phenomenon. In these cases the best that can be said is that there may exist a neutral effect. On the other hand, empirical analysis shows that, at the worost, negative effects may prevail.     

Max Weber's Authority Models and the Theory of X-Inefficiency: The Economic Sociologist's Analysis Adds More Structure to Leibenstein's Critique of Rationality

Abstract . Harvey leibenstein's theory of X-efficiency holds that behavioral considerations, such as motivation of workers or the quality of managerial decisions, are the major restraints on the productivity of modern organizations. It envisions economic behaviors which are not fully rational; that is, behaviors which fall far short of the maximization postulate so central to neo-classical microeconomics. The theory is significant for it, contrary to the prevailing view, seeks to explain suboptimality primarily as a function of factors internal to the Jirm rather than those that are objectively external, such as the market structure in which the firm finds itself. The X-efficiency framework is enhanced by the application of several salient concepts in the economic thought of Max Weber. He, in contrast to most of his contemporaries, engaged in economic analysis, but he never accepted the maximization postulate. He considered such formal economic rationality to be a very rare, almost an exceptional case of economic behavior the norm was something substantially less rational. Weber therefore categorized economic activity by its degree of rationality and linked such activity to types of authority exercised in its pursuit.     

State Spending: What to Cut, Where, and Why

The growth of government has abscured the erstwhile clarity of its tasks Geoffrey Wook, of City University Business School, considers cuts in state spending that would clarify the function of government, reduce its burden on the taxpayer, and re-establish its central and limited purpose.     

Economic Sociology

A bstract . Economic sociology covers the gray area between the disciplines of economics and sociology brings scholars from both disciplines together to communicate over topics of interest. This communication provides debate that stimulates and strengthens social theory , which in turn, allows for better policy recommendations. A major area for concern in the development of economic sociology has been the presence of economic imperialism combined with economic bubris , the effects of which could suffocate economic sociology. These phenomena arc examined along with the trends over the past twenty years in the development of economic sociology and the relative impact that "economic sociologists" from both disciplines are having on their respective fields. Observing these trends will allow for an analysis of the developments in economic sociology and a assessment of where It is going in the future.     

MONEY AND ECONOMIC ACTIVITY: A REVIEW ARTICLE

1. RONDO CAMERON (Editor), Banking and Economic Development; Some Lessons of History (Oxford University Press, 1972)
2. PETER COFFEY AND JOHN R. PRESLEY, European Monetary Integration (Mamillan, 1971)
3. PAUL DAVIDSON, Money and the Real World (Macmillan, 1972)
4. PAUL EINZIG, A Textbook on Monetary Policy (Macmillan, 1972,)
5. D. E. MOGGRIDGE, British Monetary Policy 1922–1931: The Norman Conquest of $4.86 (Cambridge University Press, 1972)