Title
Private Governance: Creating Order in Economic and Social Life,Used
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From the first stock markets of Amsterdam,London, and New York to the billions of electronic commerce transactions today, privately produced and enforced economic regulations are more common, more effective, and more promising than commonly considered.In Private Governance, prominent economist Edward Stringham presents case studies of the various forms of private enforcement, selfgovernance, or selfregulation among private groups or individuals that fill a void that government enforcement cannot. Through analytical narratives the book provides a close examination of the world's first stock markets, key elements of which were unenforceable by law; the community of Celebration, Florida, and other private communities that show how public goods can be bundled with land and provided more effectively; and the millions of creditcard transactions that occur daily and are regulated by private governance. Private Governance ultimately argues that while potential problems of private governance, such as fraud, are pervasive, so are the solutions it presents, and that much of what is orderly in the economy can be attributed to private groups and individuals. With meticulous research, Stringham demonstrates that private governance is a far more common source of order than most people realize, and that private parties have incentives to devise different mechanisms for eliminating unwanted behavior.Private Governance documents numerous examples of private order throughout history to illustrate how private governance is more resilient to internal and external pressure than is commonly believed. Stringham discusses why private governance has economic and social advantages over relying on government regulations and laws, and explores the different mechanisms that enable private governance, including sorting, reputation, assurance, and other bonding mechanisms. Challenging and rigorouslywritten, Private Governance will make a compelling read for those with an interest in economics, political philosophy, and the history of current Wall Street regulations.
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- Q: What is the main theme of 'Private Governance: Creating Order in Economic and Social Life'? A: 'Private Governance' explores how privately produced and enforced economic regulations can effectively fill the void left by government enforcement, providing numerous case studies and examples.
- Q: Who is the author of this book? A: The author of 'Private Governance' is Edward Peter Stringham, a prominent economist known for his work in economic history and political philosophy.
- Q: What types of examples does the book provide? A: The book includes case studies of stock markets, private communities, and credit-card transactions to illustrate how private governance operates in various contexts.
- Q: How many pages does the book have? A: 'Private Governance' has a total of 296 pages.
- Q: What is the publication date of the book? A: 'Private Governance' was published on January 1, 2015.
- Q: Is this book suitable for those interested in economics? A: Yes, 'Private Governance' is highly suitable for readers interested in economics, political philosophy, and the evolution of economic regulations.
- Q: What kind of binding does the book have? A: 'Private Governance' is available in hardcover binding, making it durable for frequent use.
- Q: What edition of the book is available? A: The book is available in its first edition.
- Q: What are the key arguments presented in the book? A: The book argues that private governance is a more common source of order than typically recognized, highlighting its advantages over government regulations.
- Q: Does the book discuss the limitations of private governance? A: Yes, 'Private Governance' addresses potential problems like fraud while also presenting solutions that private governance can offer.