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In the 1960s and '70s, a diverse range of storefronts-including head shops, African American bookstores, feminist businesses, and organic grocers-brought the work of the New Left, Black Power, feminism, environmentalism, and other movements into the marketplace. Through shared ownership, limited growth, and democratic workplaces, these activist entrepreneurs offered alternatives to conventional profit-driven corporate business models. By the middle of the 1970s, thousands of these enterprises operated across the United States-but only a handful survive today. Some, such as Whole Foods Market, have abandoned their quest for collective political change in favor of maximizing profits.Vividly portraying the struggles, successes, and sacrifices of these unlikely entrepreneurs,From Head Shops to Whole Foodswrites a new history of social movements and capitalism by showing how activists embraced small businesses in a way few historians have considered. The book challenges the widespread but mistaken idea that activism and political dissent are inherently antithetical to participation in the marketplace. Joshua Clark Davis uncovers the historical roots of contemporary interest in ethical consumption, social enterprise, buying local, and mission-driven business, while also showing how today's companies have adopted the language-but not often the mission-of liberation and social change.

Business enterprises --- Small business --- Entrepreneurship --- Political aspects --- History. --- Entrepreneur --- Intrapreneur --- Capitalism --- Business incubators --- Businesses, Small --- Medium-sized business --- Micro-businesses --- Microbusinesses --- Microenterprises --- Small and medium-sized business --- Small and medium-sized enterprises --- Small businesses --- SMEs (Small business) --- Business --- Industries --- Business organizations --- Businesses --- Companies --- Enterprises --- Firms --- Organizations, Business --- Size --- Social movements --- Business and politics --- Politics and business --- Politics, Practical --- Political business cycles --- Movements, Social --- Social history --- Social psychology --- Political aspects&delete& --- History --- Economic aspects&delete& --- E-books --- Economic aspects

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Using 'business cycle accounting' (BCA), Chari, Kehoe and McGrattan (2006) (CKM) conclude that models of financial frictions which create a wedge in the intertemporal Euler equation are not promising avenues for modeling business cycle dynamics. There are two reasons that this conclusion is not warranted. First, small changes in the implementation of BCA overturn CKM's conclusions. Second, one way that shocks to the intertemporal wedge impact on the economy is by their spillover effects onto other wedges. This potentially important mechanism for the transmission of intertemporal wedge shocks is not identified under BCA. CKM potentially understate the importance of these shocks by adopting the extreme position that spillover effects are zero.