Power and Market
| Author | : Murray Newton Rothbard |
| Publisher | : Kansas City [Kan.] : Sheed Andrews and McMeel |
| Total Pages | : 330 |
| Release | : 1977 |
| Genre | : Business & Economics |
| ISBN | : |
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Man, Economy, and State with Power and Market
| Author | : Murray N. Rothbard |
| Publisher | : Bubok |
| Total Pages | : 1506 |
| Release | : 2012-10-23 |
| Genre | : Business & Economics |
| ISBN | : 846862893X |
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The era of modern economics emerged with the publication of Carl Menger?s seminal work, Principles of Economics, in 1871. In this slim book, Menger set forth the correct approach to theoretical research in economics and elaborated some of its immediate implications. In particular, Menger sought to identify the causal laws determining the prices that he observed being paid daily in actual markets.4 His stated goal was to formulate a realistic price theory that would provide an integrated explanation of the formation of market phenomena valid for all times and places.5 Menger?s investigations led him to the discovery that all market prices, wage rates, rents, and interest rates could ultimately be traced back to the choices and actions of consumers striving to satisfy their most important wants by ?economizing? scarce means or ?economic goods.? Thus, for Menger, all prices, rents, wage, and interest rates were the outcome of the value judgments of individual consumers who chose between concrete units of different goods according to their subjective values or ?marginal utilities? to use the term coined by his student Friedrich Wieser. With this insight was born modern economics.
The Power of Market Fundamentalism
| Author | : Fred Block |
| Publisher | : Harvard University Press |
| Total Pages | : 311 |
| Release | : 2014-04-30 |
| Genre | : Business & Economics |
| ISBN | : 0674050711 |
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What is it about free-market ideas that give them tenacious staying power in the face of such manifest failures as persistent unemployment, widening inequality, and the severe financial crises that have stressed Western economies over the past forty years? Fred Block and Margaret Somers extend the work of the great political economist Karl Polanyi to explain why these ideas have revived from disrepute in the wake of the Great Depression and World War II, to become the dominant economic ideology of our time. Polanyi contends that the free market championed by market liberals never actually existed. While markets are essential to enable individual choice, they cannot be self-regulating because they require ongoing state action. Furthermore, they cannot by themselves provide such necessities of social existence as education, health care, social and personal security, and the right to earn a livelihood. When these public goods are subjected to market principles, social life is threatened and major crises ensue. Despite these theoretical flaws, market principles are powerfully seductive because they promise to diminish the role of politics in civic and social life. Because politics entails coercion and unsatisfying compromises among groups with deep conflicts, the wish to narrow its scope is understandable. But like Marx's theory that communism will lead to a "withering away of the State," the ideology that free markets can replace government is just as utopian and dangerous.
Power System Economics
| Author | : Steven Stoft |
| Publisher | : Wiley-IEEE Press |
| Total Pages | : 498 |
| Release | : 2002-05-28 |
| Genre | : Technology & Engineering |
| ISBN | : 9780471150404 |
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The first systematic presentation of electricity market design-from the basics to the cutting edge. Unique in its breadth and depth. Using examples and focusing on fundamentals, it clarifies long misunderstood issues-such as why today's markets are inherently unstable. The book reveals for the first time how uncoordinated regulatory and engineering policies cause boom-bust investment swings and provides guidance and tools for fixing broken markets. It also takes a provocative look at the operation of pools and power exchanges. * Part 1 introduces key economic, engineering and market design concepts. * Part 2 links short-run reliability policies with long-run investment problems. * Part 3 examines classic designs for day-ahead and real-time markets. * Part 4 covers market power, and * Part 5 covers locational pricing, transmission right and pricing losses. The non-technical introductions to all chapters allow easy access to the most difficult topics. Steering an independent course between ideological extremes, it provides background material for engineers, economists, regulators and lawyers alike. With nearly 250 figures, tables, side bars, and concisely-stated results and fallacies, the 44 chapters cover such essential topics as auctions, fixed-cost recovery from marginal cost, pricing fallacies, real and reactive power flows, Cournot competition, installed capacity markets, HHIs, the Lerner index and price caps. About the Author Steven Stoft has a Ph.D. in economics (U.C. Berkeley) as well as a background in physics, math, engineering, and astronomy. He spent a year inside FERC and now consults for PJM, California and private generators. Learn more at www.stoft.com.
Advertising and Market Power
| Author | : William S. Comanor |
| Publisher | : Harvard University Press |
| Total Pages | : 284 |
| Release | : 1974 |
| Genre | : Business & Economics |
| ISBN | : 9780674005808 |
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The current debate over the economics of advertising has long focused on two questions. The first concerns the impact of advertising on the relative positions of large and small firms in an industry and thereby on the state of competition. The second examines the role of advertising on consumer purchasing decisions over broad consumption categories. Comanor and Wilson use the modern tools of economic theory and statistics to build and test their hypotheses, and contribute important analytical and empirical evidence on the key issues. The authors find that consumer decisions are affected substantially by the volume of advertising. Indeed, advertising is a weightier factor than relative prices. Their conclusions surely contribute to the nervousness long felt by economists over the use of consumer preferences to evaluate the welfare implications of resource allocation.
Power System Economic and Market Operations
| Author | : Jin Zhong |
| Publisher | : CRC Press |
| Total Pages | : 169 |
| Release | : 2018-01-12 |
| Genre | : Science |
| ISBN | : 1351180053 |
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Power system operation is one of the important issues in the power industry. The book aims to provide readers with the methods and algorithms to save the total cost in electricity generation and transmission. It begins with traditional power systems and builds into the fundamentals of power system operation, economic dispatch (ED), optimal power flow (OPF), and unit commitment (UC). The book covers electricity pricing mechanisms, such as nodal pricing and zonal pricing, based on Security-Constrained ED (SCED) or SCUC. The operation of energy market and ancillary service market are also explored. "It covers a wide range of interesting topics, which could be very useful for understanding the main phenomena ruling power systems economy (such as Optimal Power Flow analysis and unit Commitments). It addresses topics widely treated in the literature, hence it is important to outline its distinctive features compared to other similar books. The book is well structured and well balanced." —Alfredo Vaccaro, University of Sannio, Italy
Market Power Politics
| Author | : Stephen E. Gent |
| Publisher | : Oxford University Press |
| Total Pages | : 281 |
| Release | : 2021-01-12 |
| Genre | : Political Science |
| ISBN | : 0197529836 |
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A new theory of market power politics that explains when and why states will delay cooperation or even fight wars in pursuit of this elusive goal. How are the Iraqi invasion of Kuwait, the Russian incursions into Ukraine and Georgia, and China's occupation of islands in the South China Sea related? All three of these important moments in modern history were driven by the motivation to capture market power. Whether it was oil for Iraq, natural gas for Russia, or rare earth elements for China, the goal isn't just the commodities themselves--it is the ability to determine their price on the global market. In Market Power Politics, Stephen Gent and Mark Crescenzi develop a new theory of market power politics that explains when and why states will delay cooperation or even fight wars in pursuit of this elusive goal. Empirically examining case studies from different regions of the world, they explore how competition between states over market power can create disruptions in the global political economy and potentially lead to territorial aggression and war. They also provide clear policy recommendations, urging international institutions to establish norms that reduce the potential for open conflict. Ultimately, Market Power Politics shows that nations' desire to increase their market power means that the push for territorial expansion will continue to shape the trajectory of world politics.
Man, Economy, and State
| Author | : Murray Newton Rothbard |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2008 |
| Genre | : Economic policy |
| ISBN | : |
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Also available via the Internet.
Market Operations in Electric Power Systems
| Author | : Mohammad Shahidehpour |
| Publisher | : John Wiley & Sons |
| Total Pages | : 552 |
| Release | : 2003-05-28 |
| Genre | : Technology & Engineering |
| ISBN | : 0471463949 |
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An essential overview of post-deregulation market operations inelectrical power systems Until recently the U.S. electricity industry was dominated byvertically integrated utilities. It is now evolving into adistributive and competitive market driven by market forces andincreased competition. With electricity amounting to a $200 billionper year market in the United States, the implications of thisrestructuring will naturally affect the rest of the world. Why is restructuring necessary? What are the components ofrestructuring? How is the new structure different from the oldmonopoly? How are the participants strategizing their options tomaximize their revenues? What are the market risks and how are theyevaluated? How are interchange transactions analyzed and approved?Starting with a background sketch of the industry, this hands-onreference provides insights into the new trends in power systemsoperation and control, and highlights advanced issues in thefield. Written for both technical and nontechnical professionals involvedin power engineering, finance, and marketing, this must-haveresource discusses: * Market structure and operation of electric power systems * Load and price forecasting and arbitrage * Price-based unit commitment and security constrained unitcommitment * Market power analysis and game theory applications * Ancillary services auction market design * Transmission pricing and congestion Using real-world case studies, this timely survey offers engineers,consultants, researchers, financial managers, university professorsand students, and other professionals in the industry acomprehensive review of electricity restructuring and how itsradical effects will shape the market.
Mind Over Markets
| Author | : James F. Dalton |
| Publisher | : Wiley |
| Total Pages | : 368 |
| Release | : 2013-07-01 |
| Genre | : Business & Economics |
| ISBN | : 9781118531730 |
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A timely update to the book on using the Market Profile method to trade Emerging over twenty years ago, Market Profile analysis continues to realize a strong following among active traders. The approach explains the underlying dynamics and structure of markets, identifies value areas, price rejection points, and measures the strength of buyers and sellers. Unlike more conventional forms of technical analysis, Market Profile is an all-encompassing approach, and Mind Over Markets, Updated Edition provides traders with a solid understanding of it. Since the first edition of Mind Over Markets—considered the best book on applying Market Profile analysis to trading—was published over a decade ago, much has changed in the worlds of finance and investing. That's why James Dalton, a pioneer in the popularization of Market Profile, has returned with a new edition of this essential guide. Written to reflect today's dynamic market conditions, Mind Over Markets, Updated Edition clearly puts this unique method of interpreting market behavior and identifying trading/investment opportunities in perspective. Includes new chapters on Market Profile-based trading strategies, using Market Profile in connection with other market indicators, and much more Explains how the Market Profile approach has evolved over the past twenty-five years and how it is used by contemporary traders Written by a leading educator and authority on the Market Profile One of the key elements that has long separated successful traders from the rest is their intuitive understanding that time regulates all financial opportunities. The ability to record price information according to time has unleashed huge amounts of useful market information. Mind Over Markets, Updated Edition will show you how to profitably put this information to work for you.
