Who Stole Our Market Economy? (eBook)

A. Coskun (Josh) Samli is Research Professor of Marketing and International Business at the University of North Florida, USA.  He is the author and co-author of almost 300 scholarly articles, 29 books, and 31 monographs. Samli has lectured extensively in Europe, Eastern Europe, the Middle East, Asia, and Oceania, and was very active in the Fulbright Commission.

Who Stole Our Market Economy? 3
Preface 6
Acknowledgments 8
Contents 10
About the Authors 12
1 Introduction 14
Conclusions 18
References 18
2 What About a Market System? 19
The Magic of the Market System 19
The Key Features of a Market System 21
How Vulnerable Is the Market System? 23
Five Deadly Social Activities 23
Deregulation 24
Merger Mania 24
Outsourcing 25
Tax Cuts 25
Privatization 25
Top-Down Management 26
Too Big to Failers 26
Poor Income Distribution 26
The Greed Factor 26
What May Be in Store? 27
Considering the Quality of Life 27
Misunderstanding of the Market Economy 28
Background of Modern CEOs 29
Conclusions 29
References 30
3 What Is Happening to the US Economy? 31
The Disappearing Magic of the Market Economy 31
Emergence of a Finance Economy 32
Critical Implications 33
Increased Working Poor 34
More Power for 1 Percenters 34
Progressive Behavior Is Lacking 34
Just What Is Blocking Economic Progress? 35
Bureaucracies 35
Industrial Giants 36
Role of Education 36
Government’s Resources 36
Anti-entrepreneurial Setting 36
Too Much Emphasis on Present 37
Increasing Poverty 37
What About Entrepreneurship? 37
Conclusions 38
Appendix 39
Bureaucratic Barriers to Economic Progress 39
Introduction 39
Basic Functions of Bureaucracies 40
Dysfunctionality of Bureaucracies 41
Blocking Economic Progress 42
Remedial Action 43
Conclusions and Future Research 43
References 44
4 Who Is the Culprit? 45
The Greed Factor 45
The Ambition Factor 46
Dimensions of Ambition 47
Dimensions of Greed 48
Contrasting Greed and Ambition 51
Deadly Sins 52
Conclusions 53
References 54
5 Deadly Social Activities 55
One Percenters’ Concerns 56
The Five Deadly Social Activities 58
Deregulation 59
Merger Mania 60
Lowering Taxes 60
Privatization 60
Offshoring 60
Conclusions 61
References 61
6 Regulation or Deregulation 62
The Law of the Jungle 62
The Dangers of Not Having Regulations 63
The Market System Cannot Work Without Regulations 63
Regulations and Laws for an Advanced Society 64
Individual Rights Once Again 66
Crime Prevention 66
The Progressive Society 66
Conclusions 68
References 68
7 Is Merger Mania a Disease? 69
Why Mergers? 69
How Significant Is Merger Activity? 72
The Impact of Merger Mania 73
A Critical Review 74
The Need for Entrepreneurship 76
Conclusions 77
References 77
8 Offshoring: The Big Problem 80
Why Offshoring? 80
Reshoring Efforts 82
Three Key Concepts 84
Conclusions 85
References 85
9 The Role of Taxation 86
Coping with Minimum Wages 86
Proper Salary Scales 87
American Innovativeness: Where Are You? 88
Taxation Must Be More Progressive 89
More on Critical Thinking 90
Wages and Salaries Must Progress 91
The Impact of Bush Tax Cuts 92
Conclusions 93
References 93
10 Privatization 95
Disastrous Impact on Education 96
Privatization’s Impact on Education 96
Continuing Propaganda and Lobbying 98
Privatization of the Prison System 98
Privatization of Water 99
Privatization: Where Are We Going? 99
Private Is Not Better 100
Conclusions 100
Appendix 100
About Increasing Production 100
The Counterpoint 101
References 101
11 Regaining Our Market System 102
Progressive Behavior Is Necessary 102
A Plan to Regain Market Economy 103
Coping with the Five Deadly Social Activities 106
Innovation and Entrepreneurship 107
Innovational Ability 107
The World Needs Innovation Nations 108
Innovation Development 109
Enter Entrepreneurs 110
Conclusions 111
References 111
12 Cultivating Economic Process 112
Sustainability, Sustainability 113
A Sustainable Innovation Culture 115
Conclusions 117
Appendix 117
Bloomberg Innovation Index 117
References 118
13 What Do We Look Forward To? 119
Stability 121
Equal Opportunities 122
Progressivity of the Society 123
Improved Quality of Life for All 123
What About Runaway Procreation? 123
Restoring and Revitalizing the Middle Class 124
Progress, Progress, Progress 125
Conclusions 126
References 126
14 The Ripple Effects of Financialization 127
Ripple Effect on the Banking Industry 127
Medical Services for the Rich 128
Nonmedical Insurance Industries 129
The Unbelievable Story of the Pharmaceutical Industry 130
Conclusions 131
Appendix 1 132
Ripple Effect of Health-Care Industry 132
Appendix 2 132
Ripple Effect on Insurance Industry 132
Appendix 3 133
The Ripple Effect on Banking 133
Appendix 4 133
The Ripple Effect on the Pharmaceutical Industry 133
References 134
15 Top-Down versus Bottom-Up Management 136
Top-Down Retail Management 137
Problems of Chains 139
Contrasting Top Down Versus Bottom Up 141
Problems with Top-Down Management 141
Entrepreneurial Integrity of Each Store 142
Ability to Adjust to Local Conditions 143
Proper Product Mix 143
Varying Promotional Activity 144
Managing SBUs and PCs 144
Out-of-Store Logistics 144
In-Store Logistics 144
Local Supply Opportunities 145
Good Job Strategy 145
Managing Bottom Up 145
What Must Top Downers Consider? 146
Conclusions 147
References 147
Postscript 149
Index 151