Progressive Policies for Economic Development
Despite the unprecedented gravity of the challenges posed by global warming, most political systems have not given them the required priority. This book examines the progressive options available to today's developing countries as they face the limitations of neoliberalism and the existential challenge of global warming.
Explorations in Economic Anthropology
At a time of rising global economic precarity and social inequality, the field of economic anthropology offers solutions through the study of local and contextualized economic practices. This book is made up of an exciting collection of succinct essays authored by leading scholars primarily from the field of economic anthropology.
Boom and Bust
Why do stock and housing markets sometimes experience amazing booms followed by massive busts and why is this happening more and more frequently? In order to answer these questions, William Quinn and John D. Turner take us on a riveting ride through the history of financial bubbles, visiting, among other places, Paris and London in 1720, Latin America in the 1820s, Melbourne in the 1880s, New York in the 1920s, Tokyo in the 1980s, Silicon Valley in the 1990s and Shanghai in the 2000s. As they do so, they help us understand why bubbles happen, and why some have catastrophic economic, social and political consequences whilst others have actually benefited society. They reveal that bubbles start when investors and speculators react to new technology or political initiatives, showing that our ability to predict future bubbles will ultimately come down to being able to predict these sparks.
The Thrift Debacle
The Thrift Debacle by Ned Eichler analyzes what he terms the greatest regulatory failure in American history: the collapse of the savings and loan industry and the enormous taxpayer burden created by the Federal Savings and Loan Insurance Corporation (FSLIC). Originally designed in the 1930s to stabilize the housing market during the Great Depression, FSLIC provided federal deposit insurance to thrifts, institutions whose main role was financing residential mortgages. For decades the system seemed stable, but by the late twentieth century changing economic conditions and the political appeal of deregulation destabilized the entire sector. Policymakers, driven by ideology rather than sober assessment, removed protective regulations without addressing the structural weaknesses of thrifts, including their limited purpose, shrinking role, and negligible capital base. Eichler argues that the "debacle" was not the result of deliberate corruption but rather of blind adherence to an idea that ignored fundamental realities. Eichler frames the crisis as a textbook case of policy divorced from prudence. He identifies seven ignored truths: there were already too many banks; thrifts had value only in providing home loans, a declining necessity; they were wholly creatures of the federal government; by 1980 they had virtually no capital; undercapitalized institutions had a record of failure; and the scale of potential losses was enormous. Yet deregulation advocates, supported by Congress and emboldened by the Reagan administration, insisted that deposit insurance, the special role of thrifts, and deregulation could coexist without consequence. In reality, deregulation amplified risk while shielding thrifts from accountability, setting the stage for losses approaching \$100 billion. By showing how ideology overwhelmed economic logic, The Thrift Debacle serves as both history and cautionary tale, underscoring the dangers of ignoring institutional limits when pursuing sweeping reforms in the financial sector. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1989.
The Principal-Agent Problem in the Context of Financial Advice
Seminar paper from the year 2018 in the subject Economics - Micro-economics, grade: 2,0, University of Hohenheim, language: English, abstract: This paper studies the relationship between investors and investment advisers with regard to the principal-agent theory. Especially, the payment of commissions, kick-backs or other inducements from product provider to financial adviser and their impact of product recommendations are the focus of this paper. At the end, this paper should answer the research question, to what extent is the investor-investment adviser relationship a principal-agent relationship and how do commission payments affect the decision of both participants. Furthermore, this paper contents the political aspect, especially the analysis of the latest German policy with regard to consumer protection in financial markets. This paper is divided in six chapters. Chapter 2 is a definition and classification of various types of financial advisers. In chapter 3, this work elaborates the principal-agent theory and compare it to our case of financial advice. In chapter 4, we set up a model of the interdependence between product provider, adviser and customer. In addition, this model gives information about payments and related incentives. The following 5th chapter, analyzes the latest policy intervention of the European Union with regard to the German financial advice market. The last chapter is a conclusion of the previous chapters.
Advances in Efficiency and Productivity II
Chapter 1. Introduction.- Chapter 2. New Definitions of Economic Cross-Efficiency.- Chapter 3. Evaluating Efficiency in Non-Homogeneous Environments.- Chapter 4. Testing Positive Endogeneity in Inputs in Data Envelopment Analysis.- Chapter 5. Modelling Pollution-Generating Technologies: A Numerical Comparison of Non-Parametric Approaches.- Chapter 6. On the Estimation of Educational Technical Efficiency from Sample Designs: A New Methodology using Robust Nonparametric Models.- Chapter 7. Local Circularity of Six Classic Price Indexes.- Chapter 8. Robust DEA efficiency scores: A heuristic for the combinatorial/probabilistic approach.- Chapter 9. Corporate Social Responsibility and Firms' Dynamic Productivity Change.- Chapter 10. A Novel Two-Phase Approach to Computing a Regional Social Progress Index.- Chapter 11. A Two-Level Top-Down Decomposition of Aggregate Productivity Growth: The Role of Infrastructure.- Chapter 12. European energy efficiency evaluation based on the use of super efficiency under undesirable outputs in SBM models.- Chapter 13. Probability of Default and Banking Efficiency. How Does the Market Respond?- Chapter 14. Measuring Global Municipal Performance in Heterogeneous Contexts: A Semi-Nonparametric Frontier Approach.- Chapter 15. The Impact of Land Consolidation on Livestock Production in Asturias織 Parishes: A Spatial Production Analysis.
Macroeconomic Measurement Versus Macroeconomic Theory
Macroeconomic theoreticians and statisticians have diverged in recent years and no longer speak the same language with the same words often having different meanings. This book maps the differences between macroeconomic theory and measurement and explores their intellectual, historical and, in some cases, ideological origins.
Killing the Host
How financial parasites and debt destroy the global economy. Professor Hudson continues the discussion on the financialization of capital and its global effects. KILLING THE HOST exposes how finance, insurance, and real estate (the FIRE sector) have gained control of the global economy at the expense of industrial capitalism and governments. The FIRE sector is responsible for today's economic polarization (the 1% vs. the 99%) via favored tax status that inflates real estate prices while deflating the "real" economy of labor and production. The Great 2008 Bailout saved the banks but not the economy, and plunged the U.S., Irish, Latvian and Greek economies into debt deflation and austerity. This book describes how the phenomenon of debt deflation imposes austerity on the U.S. and European economies, siphoning wealth and income upward to the financial sector while impoverishing the middle class.
Sustainability-Oriented Innovations in large firms. SOI enabling organizational factors
Diplomarbeit aus dem Jahr 2020 im Fachbereich VWL - Innovations繹konomik, Note: 1,3, Ludwig-Maximilians-Universit瓣t M羹nchen, Sprache: Deutsch, Abstract: This research seeks to gain insights into the enabling organizational factors of SOI in large firms by answering the following research question: How do large firms enable sustainability-oriented innovation? In this way the broad research question reflects the exploratory character of this study and provides the researcher with the opportunity to narrow the focus on specific organizational factors during the course of the data analysis. The thesis seeks to address the research question by first reviewing the literature in the field of sustainability and innovation. Thereafter, the methodology and choice of the qualitative research design is discussed. Further, the part also elaborates on the selection of the case companies. The next part represents the empirical findings and is followed by a discussion of the results. Concluding this thesis, the key findings will be re-viewed, limitations of the research design discussed, and research and managerial implications highlighted. Over the last decade, there has been a growing interest in sustainability-oriented innovations by both academia and practice as a way to address mounting concerns about environmental degradation, social inequity, and over-consumption of earth's resources. By conducting a multiple case study, this thesis contributes to the still emerging field by examining sustainability-oriented innovation and its enabling organizational factors in the context of large firms. The empirical results reveal an organizational focus on sustainability, which is characterized by strong market-orientation which is supported by a variety of tools and collaborative innovation partnerships. Moreover, the cases highlight a comprehensive integration of the UN sustainable development goals in several enabling factors of sustainability-oriented innovations.
Community Owned Businesses
This book analyses community owned businesses in countries around the world to show successful approaches and important strategies to improve access to essential services in vastly different economic contexts.
Growth Mechanisms and Sustainability
This book provides a broad investigation of various issues in East Asia's steel industry since the 1980s, including international specialization and trade relations, the sustainable use of resources, technological innovations, and environmental mitigation, alongside a consideration of the rapid growth in Chinese steel industry. Using macro and firm-level data, and case studies based on field research to discuss issues concerning the steel industry in East Asia. In search of an easy understanding, we try to simplify complicated economic models and statistical analyses, and concentrate on policy implications based as much as possible on the results of empirical analyses. We believe that this book will be of interest to policymakers, economists, practitioners and advocates of sustainability.
Finanzierung von FinTechs durch Private Equity Gesellschaften
Bachelorarbeit aus dem Jahr 2021 im Fachbereich VWL - Finanzwissenschaft, Note: 2,0, Universit瓣t Siegen, Sprache: Deutsch, Abstract: Im Mittelpunkt dieser Arbeit steht die Frage, inwiefern sich Finanzierungen durch Private Equity Gesellschaften auf das Gesch瓣ftsmodell sowie die Stakeholder eines FinTech-Startups auswirken. Im Umfang dessen werden Wachstumschancen f羹r das Startup-Unternehmen sowie die mit Private Equity Gesellschaften assoziierten Risikogesichtspunkte evaluiert. Basierend auf den erarbeiteten Erkenntnissen werden anschlie?end Handlungsimplikationen aus Sicht des Startups abgeleitet. Der Inhalt dieser Arbeit ist in insgesamt drei gleichgewichtete Hauptkapitel gegliedert. Kapitel 2 ist der Thematik der Risk-Governance-Perspektive gewidmet, welche ausschlaggebend f羹r die Sichtweise dieser wissenschaftlichen Arbeit ist. Dabei wird diese in Einzelteilen betrachtet und literarisch fundiert wiedergegeben. Basierend auf der literarischen Grundlage des zweiten Kapitels, werden in Kapitel 3 relevante Stakeholder, sowie die Elemente des Gesch瓣ftsmodells untersucht. Im Fokus des vierten Kapitels stehen die Auswirkungen der Eigenkapitalfinanzierung durch Private Equity Gesellschaften auf Startup-Unternehmen aus Risk-Governance-Perspektive. Ein kurzer Ausblick auf die im Umfang dieser wissenschaftlichen Arbeit generierten Kernerkenntnisse und die einhergehende Beantwortung der Forschungsfrage beschlie?t die Arbeit. Zudem wird abschlie?end eine Auskunft 羹ber aufgetretene Limitationen und m繹gliche zuk羹nftige Forschungsfelder gegeben.
Modelling the Socio-Economic Implications of Sustainability Issues in the Housing Market
This book discusses sustainable housing issues in urban areas throughout the Global South, revealing their complexity in terms of urban dynamics, housing markets and human interactions with the environment. Its main focus is on the location of graves within private residences, cemeteries in the immediate vicinity of private residences, and the implications of these factors for renters' choices and rents. The book addresses the economics of land use for graves in connection with housing choices and the implications for the rented sector of the property market. By means of several model-based simulations, it demonstrates that the neoclassical economics remedy to the negative externality of graves in or near private residences remains generally unacceptable. Providing readers with a clear understanding of tenants' priorities in their choice of housing, as well as a new approach to the negative externality of graves in the rented sector, the book will be of interest to policymakers, urban planners, investors in residential housing and land economists alike.
The Causes and Consequences of Interest Theory
Interest has always been a part of humans' daily economic life, and the concept of interest has attracted intense attention from economists, philosophers, religious scholars and lawmakers. This book analyses the issue of prohibition of interest through the lens of conventional economics and then makes a comparison with the position of Islamic economists. It evaluates the theory of interest presented by B繹hm-Bawerk, which is the most respected and applicable theory at present. It provides an in-depth analysis of the current literature, and it is the first book to scrutinize the interpretation of Islamic economists on the concepts of time preference and interest rate control. This book will be of interest to academics and students of economics and Islamic economics.
Building Trust in the International Monetary System
Introduction - The Main Features of the International Money's Evolution.- Money and the International Monetary System: Origins and Evolution.- The Classic Gold Standard.- The Gold-Exchange Standard, its Collapse, and the Interwar Lack of an International Money.- The Bretton Woods System.- The Dollar Standard.- Critical Issues in the Current International Monetary System and Future Prospects.- Conclusions.
Annual Report on the Development of the Indian Ocean Region (2019)
Chapter 1. International Environmental Change in the Indian Ocean Region and China's Stragetic Choices.- Chapter 2. Stragetic Thinking on China's Response to the US New Indo-Pacific Concept.- Chapter 3. Indian Ocean Security Environmental Assessment.- Chapter 4. India's Approach to Security Challenge in the Indian Ocean Region.- Chapter 5. International Institutions in Indian Ocean Region and Its Influence on Belt and Road Initiative.- Chapter 6. Regional Economic Integration and Economic Cooperation Mechanism in the Indian Ocean Region.- Chapter 7. Sustainability Assessment of Economic and Trade Development in Indian Ocean Island States.- Chapter 8. International Security Environment Assessment of China Myanmar Economic Corridor under the Policy Adjustment of indo-Pacific Stragetic Countries.- Chapter 9. The Geo-environment and Geo-risks in the Indian Ocean Region.- Chapter 10. The New Development of Australia's Indian Ocean Strategy.
Lebenslanges Lernen als Antwort auf die arbeitsmarktpolitischen Herausforderungen der Digitalisierung. Ein Vergleich zwischen Schweden und Deutschland
Masterarbeit aus dem Jahr 2019 im Fachbereich BWL - Wirtschaftspolitik, Note: 1,0, Rheinische Friedrich-Wilhelms-Universit瓣t Bonn, Sprache: Deutsch, Abstract: Die vorliegende Arbeit gliedert sich in drei sich aufeinander beziehende Teilbereiche. Im ersten Teil erfolgt die theoretische Einordnung des Lebenslangen Lernens sowie der Digitalisierung der Arbeitswelt. Die Begriffe werden definiert und ihre Bedeutung gekl瓣rt. Zudem werden die Chancen und Herausforderungen der Digitalisierung f羹r die Arbeitswelt herausgearbeitet. Der theoretische Teil der Arbeit schlie?t mit einem Zwischenfazit ab, in dem die bisherigen Ergebnisse zusammengef羹hrt und beide theoretischen Begriffen miteinander verkn羹pft werden, um ihre Relevanz f羹r eine zuk羹nftig gute theoretische AMP in Zeiten der Digitalisierung zu betonen. Im zweiten und empirischen Teil der Arbeit erfolgt die l瓣ndervergleichende Policy-Analyse. Nachdem ein allgemeiner ?berblick 羹ber die aktuelle Situation auf dem Arbeitsmarkt in Deutschland und Schweden gegeben wird, erfolgt ein historischer ?berblick der Konzepte des LLL in beiden L瓣ndern sowie eine Zusammenschau der betrieblichen, staatlichen und privaten Weiterbildungs- und Qualifikationsma?nahmen. Besondere Aufmerksamkeit wird der staatlichen F繹rderung von solchen Ma?nahmen und deren politische Ausgestaltung gewidmet. Anschlie?end werden die politischen Konzepte und Ausrichtungen der Digitalisierung der Arbeitswelt der Vergleichsl瓣nder betrachtet, um sodann den Stand der Digitalisierung des Arbeitsmarktes im jeweiligen Land anhand von empirischen Daten n瓣her zu studieren. Abschlie?end werden empirische Daten zu Qualifikations- und Weiterbildungsma?nahmen, die auf die Bew瓣ltigung der Herausforderungen der Digitalisierung abzielen, analysiert und verglichen. Im dritten und letzten Teil der vorliegenden Arbeit wird an den theoretischen und empirischen Teil ankn羹pfend eine abschlie?ende Analyse erfolgen, um festzustellen, inwieweit LLL in Form von Qualifikations- und
More Heat Than Life: The Tangled Roots of Ecology, Energy, and Economics
This book traces the interacting histories of the disciplines of ecology and economics, from their common origin in the ancient Greek concept of oikonomia, through their distinct encounters with energy physics, to the current obstruction of neoliberal economics to responses to the ecological and climate crisis of the so-called Anthropocene. Reconstructing their constitution as separate sciences in the era of fossil-fuelled industrial capitalism, the book offers an explanation of how the ecological sciences have moved from a position of critical collision with mainstream economics in the 1970s, to one of collusion with the project of permanent growth, in and through the thermal crisis of the biosphere.
Catastrophes and Unexpected Behavior Patterns in Complex Artificial Populations
A major objective of this monograph is to present an agent-based simulation of artificial populations. The focus is on possible unexpected or catastrophic events that may spontaneously appear in simulations. A short recall of the tenets of the theory of catastrophes is given. Several examples of artificial society simulations are provided as the main topic of the book. With agent-based modeling, possible catastrophes and unexpected events in artificial populations are simulated. The book presents a new modeling and simulation tool, applied to social system simulation. The models are coded in the object- and agent-oriented language Bluesss (Blues Simulation System), related to the C++ language. The program code consists of a series of generic declarations of processes. Each of them includes a number of events that are coded in C++. At the runtime, a population of objects is generated. All the objects (agents) start to execute their own events, and interact with one another. During the simulations it is possible to observe the macro-behavior of the population, where some unexpected or "catastrophic" events occur. The examples include a stock market crash, catastrophes in extended prey-predator systems, growing organisms and cancer, epidemics, social inequality and economic decay, mass-service systems, and more. Remarks on possible simultaneous events are also included.
Comparison of Economic Systems
Comparison of Economic Systems: Theoretical and Methodological Approaches offers a profound exploration of the analytical frameworks and methodologies that define the field of comparative economics. Emerging from a University of Michigan research conference, the book charts the evolution of comparative economic systems as a discipline, initially focused on evaluating grand "isms" like capitalism and socialism. It shifts the focus toward a nuanced understanding of the traits, institutions, and decision-making mechanisms that influence economic behavior and performance across different systems. By examining theoretical models, such as those proposed by Koopmans, Montias, and Hurwicz, the volume highlights the interplay of variables like property relations, incentive structures, and resource allocation methods within mixed economic systems. The book seeks to bridge ideological labels with empirical data, fostering a more sophisticated analysis of economic systems in practice. This collection is not just an academic critique of economic ideologies but also a practical guide to comparing performance metrics like growth, efficiency, and stability across national economies. It delves into contemporary challenges, including decision-making in large bureaucracies, the role of public versus private ownership, and the impact of technological advancement on economic organization. With contributions from leading economists and case studies, such as Bergson's work on the Soviet Union and the United States, the book underscores the necessity of interdisciplinary approaches to refine the methodologies of comparative economics. It is an essential resource for economists and policy analysts seeking to understand the complexities of economic systems and their implications for global development. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1971.
Adam Smith
Adam Smith is essential reading for those studying ethics, political philosophy, the history of philosophy, and the Enlightenment, as well as those reading Smith in related disciplines such as economics, law and religion.
Comparison of Economic Systems
Comparison of Economic Systems: Theoretical and Methodological Approaches offers a profound exploration of the analytical frameworks and methodologies that define the field of comparative economics. Emerging from a University of Michigan research conference, the book charts the evolution of comparative economic systems as a discipline, initially focused on evaluating grand "isms" like capitalism and socialism. It shifts the focus toward a nuanced understanding of the traits, institutions, and decision-making mechanisms that influence economic behavior and performance across different systems. By examining theoretical models, such as those proposed by Koopmans, Montias, and Hurwicz, the volume highlights the interplay of variables like property relations, incentive structures, and resource allocation methods within mixed economic systems. The book seeks to bridge ideological labels with empirical data, fostering a more sophisticated analysis of economic systems in practice. This collection is not just an academic critique of economic ideologies but also a practical guide to comparing performance metrics like growth, efficiency, and stability across national economies. It delves into contemporary challenges, including decision-making in large bureaucracies, the role of public versus private ownership, and the impact of technological advancement on economic organization. With contributions from leading economists and case studies, such as Bergson's work on the Soviet Union and the United States, the book underscores the necessity of interdisciplinary approaches to refine the methodologies of comparative economics. It is an essential resource for economists and policy analysts seeking to understand the complexities of economic systems and their implications for global development. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1971.
The WORLD Theater
The world is a theater. This was not only known to Johann Wolfgang Goethe. Today, due to Corona, it has also reached many people. They see the world as a great theater. In this theater play, not the virus plays the biggest role but money. Because the virus devoured a lot of money. However, people no longer want to give importance to this new play. They have finally awakened from their deep slumber. Rafael describes a world that is facing a major change - not only the world, but each of us humans. And with the change, a new awareness of money comes to us. We realize that we are the creators of our money and our lives. Let yourself be taken into the depths of Rafael's wisdom as well as his optimism for the new generation and the new world. The focus of his attention is supporting them. The old world is coming to an end. The new world is already born.
No-Bailout Klausel des Maastrichter Vertrages. Credibility and No-Bailout Rules
Studienarbeit aus dem Jahr 2018 im Fachbereich VWL - Sonstiges, Note: 1,7, Universit瓣t Duisburg-Essen, Veranstaltung: Monet瓣re ?konomik und Internationale Kapitalm瓣rkte, Sprache: Deutsch, Abstract: Im Verlauf dieser Arbeit wird auf die No-Bailout Klausel des Maastrichter Vertrages eingegangen. Anfangs werden grundlegende Zusammenh瓣nge genauer beleuchtet. Anschlie?end wird die nach der Krise herrschende Glaubw羹rdigkeit der No-Bailout Klausel betrachtet und eingesch瓣tzt, sowie die M繹glichkeit einer Wiederherstellung dieser Glaubw羹rdigkeit behandelt. Darauffolgend werden m繹gliche Handlungsalternativen zur Krisenl繹sung in Europa aufgezeigt. Abschlie?end wird ein kritisches Fazit die Klausel und deren vergangene Wirkung beurteilen, sowie ihre Zukunftsf瓣higkeit final bewerten.
Rural Credit in Western India 1875-1930
Rural Credit in Western India, 1875-1930: Rural Credit and the Co-operative Movement in the Bombay Presidency by I. J. Catanach examines how colonial officials and Indian peasants alike grappled with the problem of indebtedness in one of British India's most diverse provinces. Sparked by the Deccan Riots of 1875 and culminating in the Co-operative Societies Act of 1904, the movement to reform rural credit was part of a broader effort to regulate moneylenders, stabilize agriculture, and experiment with state-led "development." Drawing on government archives, bank records, newspapers, and the occasional village- or society-level narrative, Catanach situates the cooperative experiment in the wider political economy of Gujarat, the Bombay Deccan and Konkan, and the Bombay Karnatak. The book highlights both the administrative politics--between the India Office and Government of India, Bombay Secretariat and Poona Registrars--and the social dynamics that shaped cooperatives' fortunes. Caste, often more powerful than the village, proved central to their success or failure; caste associations and even strands of nationalism, especially in Gujarat, intersected with cooperative activity. Profiles of the Registrars, many drawn from the Indian Civil Service, reveal a mix of eccentric innovators and pragmatic bureaucrats attempting to encourage "democratization" through non-official leadership. By 1930, as the Depression and protectionist measures transformed the economic landscape, the cooperative movement's limited achievements raised enduring questions: were they undermined by Indian society's inertia or by the unsuitability of a Rhineland model transplanted to western India? Catanach's analysis makes the history of rural credit a lens on colonial governance, peasant politics, and the early origins of developmental thought. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1970.
Rural Credit in Western India 1875-1930
Rural Credit in Western India, 1875-1930: Rural Credit and the Co-operative Movement in the Bombay Presidency by I. J. Catanach examines how colonial officials and Indian peasants alike grappled with the problem of indebtedness in one of British India's most diverse provinces. Sparked by the Deccan Riots of 1875 and culminating in the Co-operative Societies Act of 1904, the movement to reform rural credit was part of a broader effort to regulate moneylenders, stabilize agriculture, and experiment with state-led "development." Drawing on government archives, bank records, newspapers, and the occasional village- or society-level narrative, Catanach situates the cooperative experiment in the wider political economy of Gujarat, the Bombay Deccan and Konkan, and the Bombay Karnatak. The book highlights both the administrative politics--between the India Office and Government of India, Bombay Secretariat and Poona Registrars--and the social dynamics that shaped cooperatives' fortunes. Caste, often more powerful than the village, proved central to their success or failure; caste associations and even strands of nationalism, especially in Gujarat, intersected with cooperative activity. Profiles of the Registrars, many drawn from the Indian Civil Service, reveal a mix of eccentric innovators and pragmatic bureaucrats attempting to encourage "democratization" through non-official leadership. By 1930, as the Depression and protectionist measures transformed the economic landscape, the cooperative movement's limited achievements raised enduring questions: were they undermined by Indian society's inertia or by the unsuitability of a Rhineland model transplanted to western India? Catanach's analysis makes the history of rural credit a lens on colonial governance, peasant politics, and the early origins of developmental thought. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1970.
Machines, Bodies and Invisible Hands
What was Adam Smith's intellectual laboratory? How did his economic theory take shape? Were his metaphors of order only residual and ornamental expressions? This book answers these questions by analyzing the formation of the concepts of market and social order in Adam Smith's work, by considering various aspects of his approach. It analyzes how metaphors and pre-analytical concepts influenced Smith's theory. In line with studies that deal with the cognitive role of metaphors in science, this book suggests that in Smith's work metaphors provided a framework, on which basis the theory subsequently developed. Therefore, as such they were part of that intellectual process which made possible the formation of structured concepts. The content and scope of the book permits a more comprehensive interpretation of Smith's thought, in which many aspects of his work are taken into consideration in order to explain a crucial problem for Smith: the nature and causes of social and economic order. The book also shows that in general, formation of theories is a complex process that includes pre-analytical views as non-residual parts of inquiry.
How Trade with China Threatens Western Institutions
This book evaluates the institutional environments of China and the United States, and the West more broadly, and how they affect their trading relationship, with specific emphasis on intellectual property theft and other allegations of unfair competition. The economic and political characteristics of the two countries affect the balance of power in their trading relationship, with ramifications far beyond jobs and output. The major theme is China's ability to free ride on Western institutions through intellectual property theft and extortion. This free riding is far more than just infringing patents and reaping profits; it creates a combination of incentives for political pressures in the West that diminish the free market and liberal Western values. The result is the classic result of free riding - underprovision, or degeneration, of the Western institutions that made the West prosperous and free. At the same time, China's economic might, military prowess, and global soft power increase, often with deleterious effects for freedom and free markets. This book is distinctive because it integrates public choice ideas about economic institutions, state action, and strategic behavior into international trade. It also takes account of the economic characteristics of China and the West and explains why they present a situation that is fundamentally different from other trade disputes. Institutions and political influence are central to this book's analysis of trade, which can be more dangerous and more disguised than the welfare gains from trade. Providing a concise and lucid distillation of pressing issues, this book is critical reading for scholars studying trade with China and its effects on both global and Western innovation, economic output, soft power, and freedom more broadly.
Constructing Economic Science
An accessible account of the role of the modern university in the creation of economics During the late nineteenth century concerns about international commercial rivalry were often expressed in terms of national provision for training and education, and the role of universities in such provision. It was in this context that the modern university discipline of economics emerged. The first undergraduate economics program was inaugurated in Cambridge in 1903; but this was merely a starting point. Constructing Economic Science charts the path through commercial education to the discipline of economics and the creation of an economics curriculum that could then be replicated around the world. Rather than describing this transition epistemologically, as a process of theoretical creation, Keith Tribe shows how the new "science" of economics was primarily an institutional creation of the modern university. He demonstrates how finance, student numbers, curricula, teaching, new media, the demands of employment, and more broadly, the international perception that industrializing economies required a technically-skilled workforce, all played their part in shaping economics as we know it today. This study explains the conditions originally shaping the science of economics, providing in turn a foundation for an understanding of the way in which this new language transformed public policy.
Trade Wins or Trade Wars
This book tackles the disconnect between social perceptions and expert knowledge regarding trade policy decisions. Using a Polish language internet database, the authors shed light on areas that need to be addressed when considering the adoption of particular trade policies by applying content and statistical analysis to produce an easy to deploy measure of populism in digital media, the "Media Populism Ratio". Defining a mismatch between social perception and expert knowledge may contribute to a better understanding of the controversies on free trade, as well as properly defining possible sources of populism and social conflicts - therefore also revealing some potential weaknesses in the trade policy implementation level which are at times neglected or underestimated. The book will be relevant to students and researchers interested in economic policy, economic narratives and cultural economics.
Introduction to Econophysics
Econophysics explores the parallels between physics and economics and is an exciting topic that is attracting increasing attention.
Instant Economics
Instant Economics pulls together all the pivotal economic knowledge and thought into one concise volume. Each page contains a discrete "cheat sheet", which tells you the most important facts in bite-sized chunks, meaning you can become an expert in an instant. From Adam Smith and Karl Marx to taxation, debt crisis, inequality and economic freedom, every key figure, discovery, controversy and concept is explained with succinct and lively text and graphics. Perfect for the knowledge hungry and time poor, this collection of graphic-led lessons makes economics interesting and accessible. Everything you need to know is here.
Data for Development Profiles
Sound and timely data and statistics are essential for designing better policies for better lives. When the right data are available and used by policy makers, they play a crucial role in managing crises, as revealed during the COVID-19 pandemic. They are also indispensable for transparent and accountable delivery of policies and services and to guide business and investment decisions in line with the Sustainable Development Goals (SDGs). The first 2021 edition of the OECD's Data for Development Profiles is a unique source of information and insights on how members of the Development Co-operation Committee (DAC) allocate official development assistance (ODA) to statistical capacity development and strengthening data ecosystems in low and middle income countries. By providing a comprehensive overview of members' data and statistical policy priorities, strategies, funding, delivery modalities and partnerships, the profiles serve as a baseline for co-ordinating international support and highlight ways forward for greater impact and effectiveness.
Enhancing Regional Health Cooperation under CAREC 2030
This study explores the potential and opportunities for promoting regional cooperation in the health sector as an operational priority in the Central Asia Regional Economic Cooperation (CAREC) Strategy 2030. It specifically reviews the burden of communicable and noncommunicable diseases and their risk factors, along with the progress and challenges in health systems development in the CAREC region. Based on the assessment, the study recommends strengthening regional health security; developing health systems through regional cooperation; and improving health services for migrants, mobile populations, and border communities.
OECD Economic Outlook, Volume 2021 Issue 1
The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
Permanent Income, Wealth, and Consumption
Permanent Income, Wealth, and Consumption: A Critique of the Permanent Income Theory, the Life-Cycle Hypothesis, and Related Theories is a pivotal exploration of the theoretical and empirical foundations of modern consumption theories. This work revisits the revolutionary concepts introduced in the mid-20th century, including Milton Friedman's Permanent Income Hypothesis and the Life-Cycle Hypothesis, to critically evaluate their assumptions and implications. Through a methodical synthesis of prior research and the introduction of new empirical tests, the book aims to resolve the longstanding debates surrounding the validity of these theories. The critique challenges the central claims of the "new theories," particularly the notions that consumption is directly proportional to permanent income and that transitory income plays no role in consumption behavior. By examining existing tests and presenting novel evidence, the author proposes an "intermediate" approach that aligns closer to traditional consumption theories while acknowledging certain insights from the newer models. The book underscores the complexities of testing these theories, highlighting issues such as data limitations, the influence of unobservable variables like tastes, and inconsistencies in definitions of consumption. Ultimately, this comprehensive evaluation offers a balanced perspective on the dynamics of income, wealth, and consumption, making it an essential read for economists and scholars interested in macroeconomic theory and empirical analysis. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1972.
Permanent Income, Wealth, and Consumption
Permanent Income, Wealth, and Consumption: A Critique of the Permanent Income Theory, the Life-Cycle Hypothesis, and Related Theories is a pivotal exploration of the theoretical and empirical foundations of modern consumption theories. This work revisits the revolutionary concepts introduced in the mid-20th century, including Milton Friedman's Permanent Income Hypothesis and the Life-Cycle Hypothesis, to critically evaluate their assumptions and implications. Through a methodical synthesis of prior research and the introduction of new empirical tests, the book aims to resolve the longstanding debates surrounding the validity of these theories. The critique challenges the central claims of the "new theories," particularly the notions that consumption is directly proportional to permanent income and that transitory income plays no role in consumption behavior. By examining existing tests and presenting novel evidence, the author proposes an "intermediate" approach that aligns closer to traditional consumption theories while acknowledging certain insights from the newer models. The book underscores the complexities of testing these theories, highlighting issues such as data limitations, the influence of unobservable variables like tastes, and inconsistencies in definitions of consumption. Ultimately, this comprehensive evaluation offers a balanced perspective on the dynamics of income, wealth, and consumption, making it an essential read for economists and scholars interested in macroeconomic theory and empirical analysis. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1972.
Strengthening Macroprudential Policies in Emerging Asia
Many Emerging Asian countries have been refining macroprudential policies, particularly since the Global Financial Crisis. For instance, they have developed policies targeting housing markets and broadly transposed the Basel III requirements into their national legislation. In the wake of the COVID-19 pandemic, policy makers now need to identify emerging vulnerabilities and their associated financial stability risks and respond with the appropriate macroprudential tools. This publication provides a detailed overview of the current macroprudential policy situation in Emerging Asian countries and explores how the macroprudential policy toolkit has evolved. The report discusses some of the most pressing challenges to financial stability, including the interaction of macroprudential policy with other policies. It also devotes special attention to macroprudential policies for emerging priorities, such as achieving green goals and updating regulatory frameworks to reflect ongoing Fintech developments. Climate change will indeed create new challenges in financial markets, while Fintech developments bring about many economic opportunities and deepen financial systems, but present a variety of novel risks requiring rapid policy responses.
Social Inequality as a Global Challenge
This book discusses the factors behind the inequalities embedded within our social, economic and political systems. Social inequalities are especially seen in the service sectors - in the differences of access to healthcare, education, social protection, housing systems, childcare, elderly care etc. Cultural inequality, which segregates people from the mainstream based on recognition problems with a specific groups' social status, language, religion, customs and norms, is another widespread issue. This book tries to present an accurate picture of these issues with cases studies from various countries. Mostly, when we talk about inequality, the focus is on economic inequality; however, much inequality persists, especially discrimination due to gender, age, origin, ethnicity, disability, sexual orientation, class, and religion. To end this situation there is a need for social, economic, and political reform. Until or unless the marginalized groups are empowered, the inequality issue cannot be solved or even minimized. On the basis of various case studies, this book encourages us to rethink societal development through the lens of growing inequalities and disparities. The book presents new insights for evaluating the progress on social development. The book highlights the current challenges of social inequality. In combination this collection of edited papers gives an integrated understanding of the question of "why is society unequal"? This book is aimed at those stakeholders, who want to make or contribute to change and build an undivided, socially inclusive society, and to those who want to contribute to empowering society in the Twenty-First century.
A Political Economy of Power
The first English analysis of German ordoliberalism from the perspective of both intellectual history and history of economic thought In comparison with Keynesianism, monetarism, or other economic paradigms of the twentieth century, ordoliberalism has been generally neglected. However, after first emerging in Germany during interwar years, ordoliberalism is now at the center of the ongoing debates about the foundations, the present governance, and the future prospects of the European Union. In A Political Economy of Power, Rapha禱l F癡vre retraces the intellectual history of ordoliberalism, focusing on the works of its main representatives Walter Eucken and Wilhelm R繹pke, together with the contributions of Franz B繹hm, Alexander R羹stow, Leonhard Miksch, and Friedrich Lutz. F癡vre provides a clear and comprehensive definition of ordoliberalism, describes in detail its principles, and explains how ordoliberalism came to heavily influence German post-war reconstruction despite its emergence during the Nazi period. He also investigates the reasons for its success in West Germany in the immediate aftermath of the war, and its lasting influence through a partial transformation to a contemporary form of neoliberal orthodoxy. A Political Economy of Power provides a contextualized and interdisciplinary study of ordoliberalism-one of the most influential intellectual projects of the second half of the twentieth century in Europe.
Law, Economics, and Conflict
In Law, Economics, and Conflict, Kaushik Basu and Robert C. Hockett bring together international experts to offer new perspectives on how to take analytic tools from the realm of academic research out into the real world to address pressing policy questions. As the essays discuss, political polarization, regional conflicts, climate change, and the dramatic technological breakthroughs of the digital age have all left the standard tools of regulation floundering in the twenty-first century. These failures have, in turn, precipitated significant questions about the fundamentals of law and economics.The contributors address law and economics in diverse settings and situations, including central banking and the use of capital controls, fighting corruption in China, rural credit markets in India, pawnshops in the United States, the limitations of antitrust law, and the role of international monetary regimes. Collectively, the essays in Law, Economics, and Conflict rethink how the insights of law and economics can inform policies that provide individuals with the space and means to work, innovate, and prosper--while guiding states and international organization to regulate in ways that limit conflict, reduce national and global inequality, and ensure fairness.Contributors: Kaushik Basu; Kimberly Bolch; University of Oxford; Marieke Bos, Stockholm School of Economics; Susan Payne Carter, US Military Academy at West Point; Peter Cornelisse, Erasmus University Rotterdam; Ga禱l Giraud, Georgetown University; Nicole Hassoun, Binghamton University; Robert C. Hockett; Karla Hoff, Columbia University and World Bank; Yair Listokin, Yale Law School; Cheryl Long, Xiamen University and Wang Yanan Institute for Study of Economics (WISE); Luis Felipe L籀pez-Calva, UN Development Programme; C矇lestin Monga, Harvard University; Paige Marta Skiba, Vanderbilt Law School; Anand V. Swamy, Williams College; Erik Thorbecke, Cornell University; James Walsh, University of Oxford.Contributors: Kimberly B. Bolch, Marieke Bos, Susan Payne Carter, Peter A. Cornelisse, Ga禱l Giraud, Nicole Hassoun, Karla Hoff, Yair Listokin, Cheryl Long, Luis F. L籀pez-Calva, C矇lestin Monga, Paige Marta Skiba, Anand V. Swamy, Erik Thorbecke, James Walsh
Law, Economics, and Conflict
In Law, Economics, and Conflict, Kaushik Basu and Robert C. Hockett bring together international experts to offer new perspectives on how to take analytic tools from the realm of academic research out into the real world to address pressing policy questions. As the essays discuss, political polarization, regional conflicts, climate change, and the dramatic technological breakthroughs of the digital age have all left the standard tools of regulation floundering in the twenty-first century. These failures have, in turn, precipitated significant questions about the fundamentals of law and economics.The contributors address law and economics in diverse settings and situations, including central banking and the use of capital controls, fighting corruption in China, rural credit markets in India, pawnshops in the United States, the limitations of antitrust law, and the role of international monetary regimes. Collectively, the essays in Law, Economics, and Conflict rethink how the insights of law and economics can inform policies that provide individuals with the space and means to work, innovate, and prosper--while guiding states and international organization to regulate in ways that limit conflict, reduce national and global inequality, and ensure fairness.Contributors: Kaushik Basu; Kimberly Bolch; University of Oxford; Marieke Bos, Stockholm School of Economics; Susan Payne Carter, US Military Academy at West Point; Peter Cornelisse, Erasmus University Rotterdam; Ga禱l Giraud, Georgetown University; Nicole Hassoun, Binghamton University; Robert C. Hockett; Karla Hoff, Columbia University and World Bank; Yair Listokin, Yale Law School; Cheryl Long, Xiamen University and Wang Yanan Institute for Study of Economics (WISE); Luis Felipe L籀pez-Calva, UN Development Programme; C矇lestin Monga, Harvard University; Paige Marta Skiba, Vanderbilt Law School; Anand V. Swamy, Williams College; Erik Thorbecke, Cornell University; James Walsh, University of Oxford.Contributors: Kimberly B. Bolch, Marieke Bos, Susan Payne Carter, Peter A. Cornelisse, Ga禱l Giraud, Nicole Hassoun, Karla Hoff, Yair Listokin, Cheryl Long, Luis F. L籀pez-Calva, C矇lestin Monga, Paige Marta Skiba, Anand V. Swamy, Erik Thorbecke, James Walsh
Socialist States and the Environment
More than thirty years after the collapse of the USSR, the critique of state socialism is still used to deny alternatives to capitalism, irrespective of global capitalist ecological and social devastation. There is seemingly nothing worthwhile salvaging from decades of state socialist experiences. As the climate crisis deepens, Engel-Di Mauro argues that we need to re-evaluate the environmental practices and policies of state socialism, especially as they had more environmentally beneficial than destructive effects. Rather than dismissing state socialism's heritage out of hand, we should reclaim it for contemporary eco-socialist ends. By means of a comparative and multiple-scaled approach, Engel-Di Mauro points to highly diverse and environmentally constructive state socialist experiences. Taking the reader from the USSR to China and Cuba, this is a fiery and contentious look at what worked, what didn't, and how we can move towards an eco-socialist future.
Country Risk
Country risk has been a key notion for economists, financiers, and investors. Norbert Gaillard defines this notion as "any macroeconomic, microeconomic, financial, social, political, institutional, judiciary, climatic, technological, or sanitary risk that affects (or could affect) an investor in a foreign country. Damages may materialize in several ways: financial losses; threat to the safety of the investing company's employees, clients, or consumers; reputational damage; or loss of a market or supply source."Chapter 1 introduces the key concepts. Chapter 2 investigates how country risk has evolved and manifested since the advent of the Pax Britannica in 1816. It describes the international political and economic environment and identifies the main obstacles to foreign investment. Chapter 3 documents the numerous forms that country risk may take and provides illustrations of them. Seven broad components of country risk are scrutinized in turn: international political risks; domestic political and institutional risks; jurisdiction risks; macroeconomic risks; microeconomic risks; sanitary, health, industrial, and environmental risks; and natural and climate risks. Chapter 4 focuses on sovereign risk. It presents the rating methodologies used by four raters; next, it measures and compares their performance (i.e., their ability to forecast sovereign defaults). Chapter 5 studies the risks likely to affect exporters, importers, foreign creditors of corporate entities, foreign shareholders, and foreign direct investors. It presents the rating methodologies used by seven raters and measures their track records in terms of anticipating eight types of shocks that reflect the main components of country risk analyzed in Chapter 3.This book will be most relevant to graduate students in economics as well as professional economists and international investors.
The Bubble and Beyond
PROFESSOR MICHAEL HUDSON is one of the foremost critics of contemporary finance capitalism and the worldwide power "the 1%" weilds because of government tax breaks and other favorable legislation. In THE BUBBLE AND BEYOND, he illuminates how the expansive and successful forces of 19th and 20th century industrial capitalism have been subverted by today's predatory finance capitalism, putting the entire world in a financial mess - and what can be done about it. A confusing labyrinth of geo-political issues impacts economic health and growth, and few are studied in the classroom or given space in the press. There is a way out of the labyrinth, however, as Professor Hudson demonstrates across 20 readable topics. PROFESSOR HUDSON'S most controversial claim is that "Debts that can't be paid, won't be," leaving in question whether or not debt non-payment will lead to worldwide foreclosures - including sell-offs of public domain assets by debt-strapped local and national governments. This is already happening locally and globally - exactly what some of the 1% would like - creating a newly-poor feudalistic society with the 1% collecting all the usage "fees." Alternatively, he suggests that the debts be written down in line with the ability to pay, as has been done by corporations via Chapter 11 bankruptcies and reorganizations throughout a more enlightened modern economic history as well as biblical record. In Professor Hudson's bold view, debt write-downs versus privatization and sell-offs of public domain assets are the economic issues that will dominate politics over the next generation. THE BUBBLE AND BEYOND is a compendium and brief history of economic thought and why it matters not only to Americans, but to people all over the world. You will find that you refer to it again and again as a fount of information, much of which has been out of favor for decades and/or suppressed by the financial interests. Professor Hudson provides chapter and verse, names names, and explains the mistakes and outright fraud that have often been committed in the name of political ideology - by both the right and the left. You will encounter all of the heroes and miscreants of economics, industry, and politics from the Bible and Babylon to present day banksters, misguided Fed policy-makers, and captains of the finance/insurance/real estate (FIRE) sector and the military-industrial complex. In one chapter after another, Professor Hudson tells who did what to whom - as well as who wins and who loses. This updated edition makes it plain where money goes versus where it might go - and ought to go. UPDATED EDITION with a NEW INDEX, LIST OF 47 EXHIBITS (illustrations, charts, graphs and models), a BONUS CHAPTER and BONUS SUMMARY, contemporary quotes, and author pull-out quotes.
The Paradox of Fiscal Austerity
If governments followed the optimal fiscal policy path, surpluses in good times would counter necessary deficits during economic downturns, leading to worldwide balance. The world, however, has chosen to go in a different direction in recent decades, avoiding thrift in light of a decidedly more indebted future. When financial crises kicked off a global recession in 2008, the spotlight placed on countries' fiscal conditions put pressure on policymakers around the globe to find a way to slow the growth of deficits and debt by imposing fiscal consolidations (or, more simply, austerity). How have these policies fared across the developed world? Were they even necessary to begin with? This book examines the many factors that have contributed to the success (or failure) of such policies, including timing, magnitude, accompanying policies, composition, and more, while explaining the economic rationale behind their choices.
Saving and Investment in the Twenty-First Century
The economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. This is true even in a situation of prosperity and very low interest rates. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life expectancy, driven by the desire to have sufficient assets in old age. On the other hand, the demand for capital is not increasing to the same extent, so that investment is not keeping pace with the rising desire to save. The resulting gap between the private desire for wealth and private investment can only be closed by increasing public debt. This open access book offers a new, capital-theoretical perspective on the macroeconomic relationship between desired wealth and investment, and it presents new empirical data on private wealth and its composition in the OECD plus China area. The authors arguethat a free economic and social order can only be stabilized if the wealth aspirations of individuals are met under conditions of price stability. This is not possible without substantial net public debt. A new way of thinking about the economy as a whole is required. By way of an in-depth theoretical and empirical analysis, the book demonstrates this new way of thinking and describes the current challenges facing economic policy. It will appeal to economists and students of economics who are interested in macroeconomic theory and its economic policy implications.An impressive, and convincing theoretical dive into the fundamentals behind secular stagnation, with very strong implications for actual debt policy. Public debt may be needed to improve welfare.- Olivier Blanchard, Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at Massachusetts Institute of Technology (MIT). Chief Economist at the International Monetary Fund from 2008 to 2015. Saving and Investment in the Twenty-First Century gives a wholly new perspective on macroeconomics. (...) Weiz-s瓣cker and Kr瓣mer describe a simple, practical solution to the underemployment that has plagued Southern Europe for more than a decade.- George Akerlof, Nobel Laureate in Economics, 2001. Professor at the McCourt School of Public Policy at Georgetown University and Professor of Economics Emeritus at the University of California, Berkeley. This is a profound and original contribution that can help us to understand and act on the great issues of our times.- Nicholas Stern, Grantham Research Institute on Climate Change and the Environment at the London School of Economics. Author of the Stern Review Report on the Economics of Climate Change. Chief Economist at the World Bank from 2000 to 2003.
