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- **Liberal Market Economies (LMEs)**: US, UK — market coordination; flexible labor; shareholder capitalism; short-term focus - **Coordinated Market Economies (CMEs)**: Germany, Japan, Nordic — institutional coordination; stable employment; stakeholder capitalism; long-term focus - **Mediterranean**...

- **Market failure**: Externalities, public goods, asymmetric information, monopoly power - **Government failure**: Rent-seeking, regulatory capture, information problems, perverse incentives - **Synthesis**: Both exist; question is comparative institutional analysis

- **Carbon tax**: Price per ton of CO2; predictable price; revenue can be redistributed (carbon dividend) - **Advantages**: Simple; economically efficient; revenue neutral possible; lets market find cheapest abatement - **Disadvantages**: Political resistance ("another tax"); uncertain emission ...

- **Productivity**: AI could boost global GDP significantly; but gains may be concentrated - **Labor market**: Some tasks automated; new tasks created; net effect uncertain; skill premium for AI-complementary workers - **Concentration**: AI advantages scale with data and compute; benefits large comp...

- **Supply-side**: Upzoning; reduced regulation; public housing construction; land value taxation (Georgism) - **Demand-side**: Rent control (controversial); housing subsidies; first-time buyer programs; mortgage regulation - **Rent control debate**: - **For**: Protects tenants from displacement; ...

- **Labor market**: Immigrants fill both high-skill and low-skill gaps; complementarity with native workers (Peri); modest wage effects on competing workers - **Fiscal impact**: Depends on age structure, education, tax system; young skilled immigrants are fiscal positive; elderly immigrants may be n...

- **Wage determination**: Marginal productivity vs bargaining power vs institutional factors; why do wages differ across countries for similar work? - **Unemployment**: Voluntary (search theory) vs involuntary (Keynesian demand deficiency) vs structural (skills mismatch) - **Labor share of income**:...

- **Occupation reforms**: Zaibatsu dissolution (partial); land reform; labor union legalization; democratic constitution - **Dodge Line (1949)**: Balanced budget; exchange rate fixed (360 yen/dollar); anti-inflation; austerity - **Korean War boom (1950-53)**: US military procurement revived Japanese...

- **Commons (Ostrom)**: Neither state nor market; community-governed shared resources - **Social economy**: Cooperatives, mutual aid, non-profit organizations - **Platform cooperativism**: Democratic ownership of digital platforms

- **Public goods provision**: Defense, law, infrastructure, education - **Redistribution**: Correcting market-generated inequality - **Regulation**: Preventing exploitation, environmental destruction, financial crises - **Coordination**: Solving collective action problems

- **Efficiency**: Price signals allocate resources without central coordination - **Innovation**: Profit motive drives technological progress - **Freedom**: Voluntary exchange respects individual autonomy - **Information**: Markets aggregate dispersed knowledge (Hayek)

- **Market freedom**: Freedom to exchange, contract, own property - **Freedom from want**: Economic security as precondition for meaningful choice - **Workplace freedom**: Democracy shouldn't stop at the factory gate

- **Externalities**: Markets don't price social/environmental costs - **Public goods**: Markets underprovide non-excludable, non-rivalrous goods - **Power asymmetries**: Unequal bargaining power distorts "free" exchange - **Commodification**: Some things shouldn't be bought/sold (Sandel) - 商品化の問題：売買...

- **Varieties of Capitalism (Hall & Soskice, 2001)**: "Liberal Market Economies" (US, UK — coordination via markets) vs. "Coordinated Market Economies" (Germany, Japan — coordination via institutions, long-term relationships). Institutions form complementary "bundles." - **Welfare-state regimes (Esp...

- **Power (T1)**: platforms hold structural and agenda-setting power (Lukes's three faces); a few firms govern global speech — private power exercising a public function. - **State vs. market (T5)**: speech is a quasi-public good with externalities (disinformation harms the information commons); nei...

- Education investment; labor market reform; addressing market concentration; progressive taxation within limits; predistribution (shaping market outcomes) over redistribution; universal basic income experiments - Sources: Acemoglu & Robinson; Hacker, *The Great Risk Shift* (2006); various social de...

- **For**: Public choice theory; bureaucratic incentives; lack of market discipline - **Against**: Market failures; public goods provision; Nordic model efficiency; corporate bureaucracy - **Nuance**: Depends on institutional design, not government per se

- **Push-pull model**: Migration driven by push factors (poverty, conflict, persecution) and pull factors (jobs, safety, networks) - **World-systems theory (Sassen)**: Migration follows capital flows; colonial relationships create migration pathways - **Network theory**: Migration chains — earlier m...

- **Definition**: Total market value of goods and services produced in a country in a given period - **Uses**: Measure of economic size and growth; comparison across countries and time - **Limitations**: Ignores inequality; doesn't measure well-being, health, environment; ignores unpaid work (househ...

- **The cases**: Japan (MITI), South Korea, Taiwan, later China — the strongest counter-evidence to strong dependency theory: late industrialization *within* the world economy via export discipline. - **Mechanisms (Johnson, Amsden, Wade, Evans's "embedded autonomy")**: a capable, meritocratic bureau...