Scarce and Valuable Economical Tracts
This volume, Scarce and Valuable Economical Tracts, was edited by John Ramsay McCulloch and originally published in 1859. It contains essays on political economy written by: Nicholas Barbon, Daniel Defoe, Henry Elking, Thomas Wise, Benjamin Franklin, Anne Robert Jacques Turgot, James Anderson, Alexander Schomberg, Joseph Townsend, Edmund Burke, and Archibald Bell.In her entry on McCulloch in the Oxford Dictionary of National Biography, Phyllis Deane wrote: "It is now apparent that for most of the half-century preceding his death [in 1864] this hard-working, largely self-educated Scot did more than any other economist of this day to introduce the new science of political economy to an interested public." The three edited McCulloch volumes now reprinted by CL Press show the enduring value of McCulloch's service to those interested in the history of economic thought and the historical arc of liberalism.
Hierarchy of Needs and the Measurement of Poverty and Standards of Living
The focus of this Element is on the idea that choice is hierarchical so that there exists an order of acquisition of durable goods and assets as real incomes increase. Two main approaches to deriving such an order are presented, the so-called Paroush approach and Item Response Theory. An empirical illustration follows, based on the 2019 Eurobarometer Survey. The Element ends with two sections showing first how measures of inequality, poverty and welfare may be derived from such an order of acquisition, second that there is also an order of curtailment of expenditures when individuals face financial difficulties. This title is also available as Open Access on Cambridge Core.
Innovation-Development Detours for Latecomers
Many developing countries still face difficulties initiating and sustaining economic development. Such difficulties have been exacerbated by the COVID-19 pandemic, resulting in an increasing divergence between rich and poor countries. One crucial question is whether to follow the trajectories of present-day rich countries or seek out different, new trajectories. Although this is a fundamental question, scholars offering mainstream prescriptions have not sufficiently explored it. Drawing on extensive empirical studies of firms and industries, Innovation and Development Detours for Latecomers proposes an effective alternative to prevailing development thinking. It presents a rich menu of development pathways, including a new role for Schumpeterian states whereby they do not follow the paths of technological development already taken by advanced countries. Rather, they can skip certain stages and even create their own detours thereby leapfrogging advanced countries in both manufacturing and service sectors. This title is also available as Open Access on Cambridge Core.
Successful Digital Transformation in Finance. Customer-Centricity and Future Business Models Beyond Smart Technologies
Bachelor Thesis from the year 2023 in the subject Economics - Finance, grade: 100, University of Applied Sciences Bern (Bern university of applied sciences), course: Digital Business Management, language: English, abstract: The financial sector is undergoing a profound transformation driven by digitalization and technological advancements. In this dynamic landscape, financial institutions are reassessing their strategies to stay competitive. The integration of smart technologies and the pursuit of customer-centric business models are key elements in this transformative journey. As technology reshapes traditional paradigms, the financial industry experiences a seismic shift towards digital transformation. Fintech's emergence and the importance of smart services redefine operations, challenge business models, and create avenues for innovation. This literature review explores the theoretical framework of digital transformation, dissecting definitions, and explaining its impact on finance. The review investigates future business models in finance, emphasizing their digital aspects and the delicate balance between replication and innovation. Shifting focus to customers, it explores the evolving concept of customer-centricity and the role of customers as co-creators in business models. Integration of customers with smart technology becomes a critical aspect, examining technology acceptance and the role of empathic AI. Methodologically, the review outlines a systematic approach, including the identification of relevant research databases, search keywords, and meticulous study selection. The results section uncovers gaps, perspectives, and recommendations in existing literature, providing a foundation for discussion. The discussion navigates barriers hindering customer acceptance of smart technology, explores factors in implementing customer-centric business models, and delves into building trust in the digital era. The paper concludes by outlining future research direc
Experimental Conversations
Discussions of the use and limits of randomized control trials, considering the power of theory, external validity, gaps in knowledge, and what issues matter. The practice of development economics has undergone something of a revolution as many economists have adopted new methods to answer perennial questions about the effectiveness of anti-poverty programs. In this book, prominent development economists discuss the use and impact of one of the most significant of these new methods, randomized control trials (RCTs) and field experiments. In extended interviews conducted over a period of several years, they explain their work and their thinking and consider the broader issues of how we learn about the world and how we can change it for the better. These conversations offer specialists and nonspecialists alike a unique opportunity to hear economists speak in their own words, free of the confines of a particular study or econometric esoterica. The economists describe how they apply research findings in the way they think about the world, revealing their ideas about the power of theory, external validity, gaps in knowledge, and what issues matter. Also included are interviews with RCT observers, critics, sponsors, consumers, and others. Each interview provides a brief biography of the interviewee. Thorough annotations offer background and explanations for key ideas and studies referred to in the conversations. ContributorsAbhijit Banerjee, Nancy Birdsall, Chris Blattman, Alex Counts, Tyler Cowen, Angus Deaton, Frank DeGiovanni, Esther Duflo, Pascaline Dupas, Xavi Gine, Rachel Glennerster, Judy Gueron, Elie Hassenfeld, Dean Karlan, Michael Kremer, David McKenzie, Jonathan Morduch, Lant Pritchett, Jonathan Robinson, Antoinette Schoar, Dean Yang
Rethinking Corruption
Why have anti-corruption efforts often failed? Current thinking on corruption has largely overlooked the profound implications of its contested nature, which paradoxically makes it an effective yet highly dysfunctional 'tool of government.' As a tool of government, it helps execute policies and guarantees a degree of political order. Moreover, anti-corruption measures are wielded as political instruments, strategically embraced by governments and oppositions to further their respective agendas. Based on an analysis of Russia, Brazil and the United States, Rethinking Corruption takes a fresh look at corruption and critiques the prevailing view of anti-corruption policies. Embarking on a captivating journey through these countries, this book encompasses the notion of legal corruption and invites a comprehensive reconsideration of corruption, with a focal point on questions of economic and political equality.
Taming the Cycles of Finance?
Macroprudential regulation is a set of economic and policy tools that aim to mitigate risk in the financial and banking systems. It was largely developed in response to the financial crisis of 2007-08, turning central banks into de facto financial policemen. Taming the Cycles of Finance traces the post-crisis rise of macroprudential regulation and argues that, despite its original aims, it typically supports finance in times of crisis but fails to curb it in times of booms. Investigating how different macroprudential frameworks developed in the UK, the USA and the Eurozone, the book explains how central bank economists went about building early warning systems to identify fragilities in the financial system. It then shows how administrative and political constraints limited the effects of this shift, as central banks were wary of intervening in a discretionary manner and policymakers were opposed to measures to limit credit growth.
Hierarchy of Needs and the Measurement of Poverty and Standards of Living
The focus of this Element is on the idea that choice is hierarchical so that there exists an order of acquisition of durable goods and assets as real incomes increase. Two main approaches to deriving such an order are presented, the so-called Paroush approach and Item Response Theory. An empirical illustration follows, based on the 2019 Eurobarometer Survey. The Element ends with two sections showing first how measures of inequality, poverty and welfare may be derived from such an order of acquisition, second that there is also an order of curtailment of expenditures when individuals face financial difficulties. This title is also available as Open Access on Cambridge Core.
Innovation-Development Detours for Latecomers
Many developing countries still face difficulties initiating and sustaining economic development. Such difficulties have been exacerbated by the COVID-19 pandemic, resulting in an increasing divergence between rich and poor countries. One crucial question is whether to follow the trajectories of present-day rich countries or seek out different, new trajectories. Although this is a fundamental question, scholars offering mainstream prescriptions have not sufficiently explored it. Drawing on extensive empirical studies of firms and industries, Innovation and Development Detours for Latecomers proposes an effective alternative to prevailing development thinking. It presents a rich menu of development pathways, including a new role for Schumpeterian states whereby they do not follow the paths of technological development already taken by advanced countries. Rather, they can skip certain stages and even create their own detours thereby leapfrogging advanced countries in both manufacturing and service sectors. This title is also available as Open Access on Cambridge Core.
Black Heart of China
The story mainly concentrates on China's attitude towards Human Rights and that country's lack of respect for life generally.The book covers what happened in the Hong Kong riots and the manipulation by authorities to ensure they could crush any resistance without the implication of using heavy-handed tactics or that they lacked concern for Human Rights. It covers the mental scars that many were left with after being forced to flee Hong Kong to ensure they were not locked up in jail for life on false or illegitimate charges, and the ramifications their actions had on their families, left behind in mainland China.It describes the lengths the authorities would go to eliminate religion in China and God's infliction of curses on China's people as a punishment for their lack of faith in Him. It raises human rights issues in China, and the attempts made to replace the worship of God with the worship of those in authority, who believe they are Gods.Many who protested in Hong Kong had to flee that country, to prevent being persecuted by the authorities. Their actions, unfortunately, had dramatic repercussions for their families left behind in China. Many ended up with depression and the book tries to address this topic from both medical and religious points of view.The religious doctrines covered in the book are depression and the act of killing or taking a life, especially during wars.The book covers China's buildup of its military strength its invasion of countries in the Pacific and Taiwan and its control of the Pacific Region.It concludes with China being taken to the International Human Rights Commission and God finally resolving the conflict between himself and those that would be God, making it clear who has the power and who is really in control.
International Economic Integration
Das in englischer Sprache verfasste Lehrbuch gibt dem interessierten Leser auf hohem wissenschaftlichem Niveau einen profunden ?berblick 羹ber die wichtigsten Organisationen und Institutionen im weiten Bereich internationaler wirtschaftlicher Kooperation und Integration - zum Beispiel: die WTO, den internationalen W瓣hrungsfonds, die Weltbank sowie die OECD und die Europ瓣ische Union. Das Buch richtet sich an Studierende der Wirtschaftswissenschaften und auch des Wirtschaftsingenieurwesens an Universit瓣ten und Fachhochschulen. Es ist auch f羹r interessierte Leser anderer Fachgebiete geeignet. Das Buch wird seitengleich auch in deutscher Sprache angeboten (ISBN 978-3-486-58473-8). Es richtet sich an Studierende der Wirtschaftswissenschaften und des Wirtschaftsingenieurwesens. Es ist auch ein hilfreiches Nachschlagewerk f羹r alle Praktiker, die im globalen Umfeld t瓣tig sind.
Innovation, Competitiveness, and Development in Latin America
Post-war Latin American economies have failed to close the development gap with advanced industrial countries despite more than six decades of attempted reform and undoubted economic and social progress. Two decades into the twenty-first century, there is little sign of this situation changing for the better. Compared with other emerging regions, notably East Asia, Latin America has underperformed in income, productivity, and innovation terms. All of this suggests that the time is right for a thorough assessment of why Latin America's recent pursuit of economic development has proven so elusive. Innovation, Competitiveness, and Development in Latin America provides a balanced and topical analysis of the successes and failures of development policy in post-war Latin America. Across nineteen chapters, experts in the economics and policy of Latin American development and policy identify the challenges at hand. They explore why the region is caught in a middle-income trap, where structural impediments frustrate the achievement of accelerated and sustainable growth. At the same time, potential actions are suggested for creating lasting progress. The chapters address vital issues in the region including established or emerging sources of competitive advantage and technological capability; future areas for comparative advantage; policy effectiveness to address under-investment in human capital; poor infrastructure; and uncompetitive market structures. The chapters in the volume draw on evidence from across the region, including countries such as Argentina, Chile, Brazil, and Costa Rica. The structural characteristics of economies within the region are identified and the potential implications considered of the re-primarization process witnessed in recent years. The volume concludes with a consideration of policy lessons from these countries and illuminates potential pathways for effective policy action in the region as a whole. With fresh insights grounded in the reality of modern-day Latin America, Innovation, Competitiveness, and Development in Latin America offers scholars and professionals a crucial window into Latin America's long-term developmental trajectory.
Biopharma in China
This book provides an insider's overview of the emerging Chinese biopharma sector, its dynamics and trends, first bust and boom cycle, long-term perspectives, and how as a foreign company or investor to tap into this. China has gone from a country with no innovation in drug discovery, to a country which starts to out-license its biopharma technology to the rest of the world. The Chinese biopharma sector is only a decade old, but it already has become a new driver of growth and value. The book takes a closer look at what drives Chinese innovation in the biopharma sector, how to deal with this innovation, and what opportunities and challenges this provides for foreign companies. The book also takes a deep dive into its first biopharma boom and bust cycle, and what it means for the sector. It also explains what deals Chinese biopharma companies and investors are looking for, what works and what doesn't, and how as a foreign company can tap into the world's second largest healthcare market.
Public Policy and Climate Change: Politics, Philosophy and Economics
Among the 'wicked problems' facing policymakers and voters today, the threat of catastrophic climate change, also called global heating, is so challenging that it was labelled as 'super-wicked'. The scientific evidence is clear-cut, and most of the technologies needed to stabilize the global climate are well understood. But the policy response has been entirely inadequate.To understand the difficulties, we must draw on our understanding of politics, philosophy and economics, grouped together as PPE. These lectures show how the PPE disciplines can be used to improve understanding of the problems and guide a way toward their solutions.The main focus is on the critical economic concept of opportunity cost: The true cost of anything is what you must give up to get it. In a smoothly functioning market, prices determine, and are determined by, opportunity costs. But markets for the emissions that generate global heating do not operate smoothly, if they exist at all. This book explains how policy responses such as carbon taxes and emissions trading markets are products of these 'market failures'.
Second Takeoff: Strategies for Malaysia's Economic Resurgence
The Malaysian economy is at a crossroads amid global and regional shifts in geopolitics. Malaysia is in a prime position to benefit from the renewed appetite for investment into the region. If Malaysia gets its priorities right, this could be the beginning of the country's next economic takeoff.An updated collection of Chin Tong's writings on economics, society and governance over the years, this book provides policy suggestions to catapult Malaysia's development to the league of high-income nations amid ongoing geopolitical trends. Central to his thesis is the need for Malaysia to create a middle-class society, in which the economic structure supports the creation of dignified jobs with decent pay for all Malaysians.Chin Tong is no stranger to the centrality of jobs in the pursuit of a good life, having grown up selling lottery tickets alongside his mother and waiting tables as a teenager to make ends meet for his working-class family. His eventual experience as a Member of Parliament for over a decade and a Deputy Minister in two different administrations further confirmed his beliefs that good jobs are the crucial missing component in Malaysia's growth engine.In this book, Chin Tong takes us on a whirlwind tour of Malaysia's socio-economic history, what went wrong after the first growth miracle of 1988-1997 and how to make things right this time around. Ultimately, the book tells the story of how to fulfil Chin Tong's undying wish for a Malaysia where everyone has a chance to live a good life with a good job under a responsible and kind state.
Second Takeoff: Strategies for Malaysia's Economic Resurgence
The Malaysian economy is at a crossroads amid global and regional shifts in geopolitics. Malaysia is in a prime position to benefit from the renewed appetite for investment into the region. If Malaysia gets its priorities right, this could be the beginning of the country's next economic takeoff.An updated collection of Chin Tong's writings on economics, society and governance over the years, this book provides policy suggestions to catapult Malaysia's development to the league of high-income nations amid ongoing geopolitical trends. Central to his thesis is the need for Malaysia to create a middle-class society, in which the economic structure supports the creation of dignified jobs with decent pay for all Malaysians.Chin Tong is no stranger to the centrality of jobs in the pursuit of a good life, having grown up selling lottery tickets alongside his mother and waiting tables as a teenager to make ends meet for his working-class family. His eventual experience as a Member of Parliament for over a decade and a Deputy Minister in two different administrations further confirmed his beliefs that good jobs are the crucial missing component in Malaysia's growth engine.In this book, Chin Tong takes us on a whirlwind tour of Malaysia's socio-economic history, what went wrong after the first growth miracle of 1988-1997 and how to make things right this time around. Ultimately, the book tells the story of how to fulfil Chin Tong's undying wish for a Malaysia where everyone has a chance to live a good life with a good job under a responsible and kind state.
Financial Innovations and Monetary Reform
Written by two leading experts on multinational accounting and billion-dollar international investment funds, this book provides a framework for a global reform of the world monetary system, and defines a decidedly new approach to dealing with public debt mortgage, an issue that we can see in many countries in Europe and around the world. The authors put forward a proposal for transforming sterile financial masses, which are withdrawn from the real economy as they no longer bear interest, into wealth. To facilitate this return to the real economy, the authors propose that a significant share of public debt be converted into net equities in the world of business and goods production in order to find new profitable investment projects. The idea is bold, and the authors strive to demonstrate its technical feasibility. They are convinced that this approach can accompany and enhance a movement that has already begun, namely the implementation of vast national and international investmentprograms in major infrastructures and research projects in innovative sectors. This work builds on the authors' two previous books, which focus on the monetary system. The first, published in 2010 and including a foreword by former French Finance Minister Christine Lagarde, analyzes the new virtual dimension of money. The second, published in 2014, puts forward an innovative proposal for a new financial regulation aimed at more stable economies. This third book is intended for professionals in the financial industry, including decision makers at banks, accounting and private equity firms, as well as policymakers at central banks and government institutions involved in the implementation of financial and monetary reforms.
Philosophy of Ecology and Capitalism
There is a substantial body of work emerging currently, seeking to address the problems caused by the economic model that has dominated the world for the last several hundred years - not least the negative impacts on the environment and sustainable health of the biosphere. This book adds to that body of literature, and brings an interesting new set of ideas into play.The author offers an approach to the philosophies and politics of nature based on a reinterpretation of the history of capitalism, in particular its concept of capital. It leads to a new anti-capitalist conception of the philosophy of ecology which takes into account at the same time history, ethics, politics, law and economics.By linking philosophy, law, economics and management, this work seeks to go beyond the mono-disciplinary and purely theoretical approaches which often characterize works devoted to the philosophy of nature, or the philosophy of ecology. It proposes a concrete philosophical alternative to modern capitalism which leads to ecological co-management and care at all levels of society, including that of political bodies, and the reform of constitutions and parliaments.In short, it is a book for a theory and a practice of environmental action in the broad sense within the framework of an institutional revolution passing in particular through the heart of the capitalist system.
Systemic Principles of Applied Economic Philosophies I
The objective of this book is to answer the calls from front-line managers, entrepreneurs, and scholarly researchers to reconstruct the theories of economics and business. Their request is for new theories to be more relevant to real life than the now-prevalent ones. To provide that answer, the book proposes to develop elementary postulates at the level of the four natural endowments of a business firm or an individual: self-awareness, imagination, conscience, and free will. Then, conclusions based on these postulates can be established through logical reasoning. On this realistic footing, the book employs the concepts, methodology, and logical reasoning of systems science to answer a full list of theoretically and practically important questions. Those queries involve such topics as rationality, the meanings of optima and choices of optimization methods, the relationship between micro- and macro-phenomena, consumption preferences, and utility representations. The target audience of the book includes graduate students and scholarly researchers, particularly those who look for opportunities to develop new territories in the world of economic and business knowledge. The book also aims at front-line decision-making managers and entrepreneurs who seek sounder theories than the commonly available ones on which to base their critical decisions. By competently employing the systemic intuition-yoyo model, graduate students, scholarly researchers, decision-making managers, and entrepreneurs can attain new conclusions. In addition, they will gain insightful understanding of market signals without unnecessarily expending other resources of limited availability.
Connecting Fintech
- Fintech is one of the hottest industries in the world today. - Anybody remotely connected to the field wants to jump onto the Fintech Bandwagon. - As a Fintech enthusiast/professional, what are you doing to ensure that you benefit from this emerging technology and stay at the forefront of the Fintech revolution? This book is designed for professional Fintech enthusiasts interested in gaining a deeper understanding of Fintech trends, ecosystems, tools, and methods of the latest financial technology innovations. This book will be of significant value to others who aspire to be successful Fintech professionals, such as. - Mid- to Senior-level managers working in banking, investment, real estate, insurance, risk management, regulatory, and other fields in the financial industry. - CXOs getting into the Fintech industry. - Consultants seeking to create cutting-edge understanding for their clients in the Fintech space. - And everyone interested in a 'ticket' to the numerous lucrative - opportunities in today's hottest industry. Get ready to impact the world with the hottest industry in the world right now! "A Fintech Engineering leader with digital payments experience of 23+ years Krishna Potnis works with Verifone. He has been driving the designing, building and management of global payment gateway solutions. He has a keen eye for finding a suitable use case for applying new technology. He has developed agile processes for Fintech solution building and is focused on domain-driven design for Fintech product development. Always willing to share knowledge on Fintech, Krishna is a sought-after speaker. He also mentors and guides engineering managers and leaders in their careers.
World Oil Fact and Policy
World Oil Fact and Policy, a brilliant book published in 1944, delivers a deep exploration and disciplined examination of domestic and foreign petroleum resources, their import to United States energy and security policy during World War II, and their capacity to act as a civilizing catalyst for postwar prosperity and peace.The authors methodically make the case that world wars are both fought for and fueled by oil; that "oil shortage" scares are based upon projections of "proved reserves" and not real reserves or resources; and that Alaskan oil prospects could radically reduce future reliance on foreign resources.The authors also divulge dynamic details of the British-American Petroleum Agreement, a nascent bilateral agreement signed by both governments in 1944, albeit never ratified by the United States Senate.This remarkable book is a must-have addition to any archive and a must-read adjunct for any authority in academia, industry, or government. Read now and share with others. The rich research is as predictive and profound today as it was practically a century ago.
Understanding Ludwig Lachmann's Economics
Ludwig Lachmann is a central but underappreciated figure within the Austrian school of economics. Although his understanding of institutions, his appreciation of the heterogeneity of capital, his emphasis on subjectivity, and his focus on the dynamism and uncertainty of the real world have become dominant positions amongst Austrian economists, he is still viewed as something of an outsider. As such, the contributions of Lachmann's economics are arguably misunderstood. This Element attempts to tease out and discuss the critical contributions of Lachmann's economics. Arguably, one way in which to understand Lachmann's economics is by seeing it as unified in considering, in various ways, a single conceptual 'problem' - the apparent tension between the dynamic nature of social reality and the intelligible nature of the social world. Approaching Lachmann with this theme in mind allows us to put things together more coherently than other exegetical strategies.
Hayek on Mill: The Mill-Taylor Friendship and Related Writings
Best known for reviving the tradition of classical liberalism, F. A. Hayek was also a prominent scholar of the philosopher John Stuart Mill. In this volume, Hayek showcases the fascinating intersections between two of the most prominent thinkers from two successive centuries. Hayek first published the Mill-Taylor correspondence in 1951, and his edition soon became required reading for any study of the nineteenth-century foundations of liberalism.
The Power of Capitalism
Best-selling author and historian Rainer Zitelmann shows how contrary to popular opinion capitalism is a force for good, enabling prosperity, alleviating poverty and improving people's lives around the world.A companion volume to the author's seminal work, In Defence of Capitalism, this book explores the achievements of capitalism across five continents, and demonstrates its success in providing a true platform for economic growth and development. In the words of the subtitle, capitalism is not the problem, but the solution.With foreword by Arthur B. Laffer and Brian Domitrovic.
Development Economics
Since the inception of development economics in the post-World War II period, most of its proponents have prescribed the adoption of western institutions as the path for prosperity - the unequivocal solution for poverty, illiteracy, hunger, inequality, and violence in the world. Seventy years of attempts, or at least the pretense thereof, to reproduce the western model in completely different historical and cultural contexts have proven to be no more than a mirage for most.Faced with this scenario, why do economists insist on the ideas of development, convergence, and emulation of the lifestyle of western countries? Is it possible to disassociate development from multidimensional instability, dependency, subordination, and exploitation? Is the current social, political, ecological, and economic organized destabilization observed in the western countries a model to follow, a desirable end of history? These questions raised earlier by some fellow economists, have become ever more pressing in the present context of generalized instability. The book questions how ethical and professionally responsible it is for economists to continue to undiscerningly prescribe miraculous one-size-fits-all market-oriented models to solve socio-economic problems everywhere. The contributors of this edited volume invite the readers to consider these questions and further similar inquiries in the future.The chapters in this book were originally published as a special issue of the journal Review of Political Economy.
THAT WHICH IS SEEN AND THAT WHICH IS not seen
Experience the timeless wisdom of Fr矇d矇ric Bastiat's economic masterpiece, "That Which is Seen and That Which is Not Seen." This classic treatise on economic clarity and obscurity, presented with annotations and an insightful introduction by Gary Furnell, author of "The Hardest Path is the Easiest: Exploring the Wisdom Literature with Pascal, Burke, Kierkegaard, and Chesterton," now boasts an additional layer of expertise with an insightful foreword by Peter Fenwick, an expert in the Austrian school of economics.This enhanced edition is now available, featuring Gary Furnell's thoughtful additions that breathe fresh life into this important work, making it accessible to a new generation of readers. "That Which is Seen and That Which is Not Seen" is not your typical economics book; it's both witty and enlightening, defying the conventional descriptors of the genre. Fr矇d矇ric Bastiat understood the power of delivering insights with a persuasively light tone, avoiding the arcane jargon and prolixity often associated with politicians and treasury officials.In economics, as in philosophy, clarity is courtesy, and Bastiat's approach emphasizes plain speech and easily understood examples. His enduring precepts, relevant today as they were one hundred and seventy years ago, encourage readers to foresee the consequences of economic decisions. Reading this classic treatise is not just an exploration of economic principles but also a valuable habit that trains us to anticipate and understand the far-reaching effects of our choices."That Which is Seen and That Which is Not Seen" is a timeless work that seamlessly combines brevity, levity, and depth. Bastiat's insights remain as impactful and pertinent today as they were during his assessment of the French government's policies and actions in the past. Embrace the opportunity to delve into this enduring masterpiece, enriched by an insightful foreword from Peter Fenwick, and gain valuable insights into economic clarity and foresight.
The Hidden Cost of Money
Everything is Downstream of MoneyDo you ever feel like you're treading water, struggling to keep up with the rising tide of expenses? From groceries to housing to transportation, your cost of living continues to climb while your wages struggle to keep up.It's a frustrating and often isolating feeling. But the truth is, not only are you not alone in this struggle, but you are not the problem. The challenges we face stem from our money!The Hidden Cost of Money by Seb Bunney, co-founder and CEO of the financial education platform Looking Glass, peels back the layers, revealing how money weaves its influence throughout our social, economic, and political spheres. Whether we're talking about how we, as individuals, interact with the world, environmental degradation, the deterioration of the family unit, or the rise of unproductive business practices, one underlying force connects them all: money.With insights that challenge conventional wisdom, this book will leave you with: A newfound appreciation for the role of money in our lives.A greater understanding of what it might take to build a more prosperous, equitable and just future.Insight into guarding against the pervasive effects of our money.And rest assured, Seb's writing dismantles jargon and simplifies the complex, making the intricate workings of our monetary system accessible to readers from all backgrounds.
Artificial Intelligence
Is Artificial Intelligence a more significant invention than electricity? Will it result in explosive economic growth and unimaginable wealth for all, or will it cause the extinction of all humans? Artificial Intelligence: Economic Perspectives and Models provides a sober analysis of these questions from an economics perspective. It argues that to better understand the impact of AI on economic outcomes, we must fundamentally change the way we think about AI in relation to models of economic growth. It describes the progress that has been made so far and offers two ways in which current modelling can be improved: firstly, to incorporate the nature of AI as providing abilities that complement and/or substitute for labour, and secondly, to consider demand-side constraints. Outlining the decision-theory basis of both AI and economics, this book shows how this, and the incorporation of AI into economic models, can provide useful tools for safe, human-centered AI.
Goodbye Globalization
GOLD MEDALLIST IN THE 2024 AXIOM BUSINESS BOOK AWARDS A bold new account of the state of globalization today--and what its collapse might mean for the world economy After the Cold War, globalization accelerated at breakneck speed. Manufacturing, transport, and consumption defied national borders, companies made more money, and consumers had access to an ever-increasing range of goods. But in recent years, a profound shift has begun to take place. Business executives and politicians alike are realising that globalization is no longer working. Supply chains are imperilled, Russia has been expelled from the global economy after its invasion of Ukraine, and China is using these fissures to leverage a strategic advantage. Given these pressures, what will the future of our world economy look like? In this groundbreaking account, Elisabeth Braw explores the collapse of globalization and the profound challenges it will bring to the West. Drawing on interviews with prominent executives and policymakers from around the world, Braw poses the difficult questions all businesses and economies will face--and traces the intricate story of globalization from the exuberant '90s to the embattled present.
Disruptions and Rhetoric in African Development Policy
The book examines the failures and some of the successes of Africa in its efforts to transform into a society where human security or development in the broadest sense is achieved.
Capitalism
The four decades of neoliberalism, globalisation and financialisation have produced crises - financial and pandemic - and rising inequality. The climate emergency threatens the future of the planet. This book explores many dimensions of the background to these crises. There is the development of policy agendas to address the climate emergency. The rise in inequality is studied in terms of impacts of financialisation and the relationships between growth and inequality. The record of the neoliberal experiment in the USA is critically examined. The roles of financial institutions including public banks and micro-finance are explored, as is the need for improved financial oversight in the Economic and Monetary Union. The growth of global value chains has been a major aspect of globalisation, and the question is examined of whether such chains provide a ladder for development. Globalisation has also featured trade imbalances and large capital flows, and their causes and effects are examined with respect to China and South Africa respectively. This volume will be of great value to students, scholars and professionals interested in political economy, economic thought, climate change, sustainability and business studies. The chapters in this book were originally published as a special issue of the journal, International Review of Applied Economics.
Big Data and Information Theory
This book brings together leading researchers and engineers to exchange and share their experiences and research results about big data and information theory applications in various areas.
The Routledge Companion to Libertarianism
Have you ever wondered what libertarians think about vaccine mandates? About gun control? About racial and sexual inequalities? While libertarianism is well known as a political theory relating to the scope and justification of state authority, the breadth and depth of libertarian work on a wide range of other topics in social and political philosophy is less well known. This handbook is the first definitive reference on libertarianism that offers an in-depth survey of the central ideas from across philosophy, politics, and economics, including applications to contemporary policy issues.The forty chapters in this work provide an encyclopedic overview of libertarian scholarship, from foundational debates about natural rights theories vs. utilitarian approaches, to policy debates over immigration, punishment and policing, and intellectual property. Each chapter presents a comprehensive and up-to-date overview of historical and contemporary libertarian thought on its subject, and thus serves as an essential guide to current scholarship, and a starting place for discovering future lines of research. The book also contains a section on criticisms of libertarianism, written by leading scholars from the feminist, republican, socialist, and conservative perspectives, as well as a section on how libertarian political theory relates to various schools of economic thought, such as the Chicago, Austrian, Bloomington, and Public Choice schools.This book is an essential and comprehensive guide for anyone interested in libertarianism, whether sympathizer or critic.
The Decline of British Industrial Hegemony
Through two World Wars and the Great Depression, this book explores the turbulent history of colonial Indian industry in the period immediately prior to independence.
Market Detachment
While the dynamics of market attachments have been extensively analyzed, the implied other to this - market detachments - have not. This book addresses this imbalance and investigates economies of detachment or the processes whereby various elements or relations in markets are removed or severed.Market organizations and dynamics involve myriad processes of attachment - good and bad. Recent work within the new economic sociology has documented how the arts of attachment are implicated in the technical, organizational and social functions of markets. This work highlights the complexities of market attachments as both material links and subjective or affective ties. It also foregrounds attachment as a variable relation, often dependent on its implied other: detachment. However, while the first term of this relation is relatively well known, the second is seriously under-researched and deserves far more attention. Key questions explored are: what is detachment; how does it work and what are the theoretical underpinnings and implications of this concept? How do practices and strategies of detachment configure and 're-agence' markets? How do markets provoke attitudes and dispositions of detachment? How do detachment strategies become qualified as political and with what consequences? The authors in this unique collection explore these questions using an array of empirical cases ranging from fast fashion to food supply chains, energy savings schemes to unpackaged food. Working across economic sociology, science and technology studies (STS), cultural studies, politics and consumer research they highlight the complexities, significance and impacts of 'letting go' in market configurations. The chapters in this book were originally published as a special issue of the journal, Consumption, Markets & Culture.
World Economy and International Business
This textbook offers a comprehensive picture of the world economy, the global business environment, and international business. The book is divided into three parts, the first of which introduces readers to the essentials of the world economy, including its typology, key concepts and theories, the dynamics of the world economy, and key actors and institutions. It also addresses macroeconomic and financial indicators for economic growth and forecasting and discusses major modern trends and problems, such as the Fourth Industrial Revolution, patterns of globalization, shifts in global economic power, and developmental, social and environmental challenges. In turn, the second part focuses on the global business environments, presenting country and regional studies. The third part addresses macro and micro aspects of international business, featuring contributions on topics such as global economic governance, global capital flows, multinational corporations, global value chains, international trade and its regulation and practice, international knowledge transfer, international labor migration as well as foreign aid, external debt, and business culture in international business.
The Macroeconomics of Decarbonisation
Decarbonisation is the reduction of carbon dioxide emissions using low carbon power sources, lowering output of greenhouse gasses into the atmosphere. This is essential to meet global temperature standards set by international climate agreements. To limit global warming to 1.5簞C, hence avoiding the worst-case scenarios predicted by climate science, the world economy must rapidly reduce its emissions and reach climate neutrality within the next three decades. This will not be an easy journey. Shifting away from carbon-intensive production will require a historic transformation of the structure of our economies. Written by a team of academics linked to the European think tank Bruegel, The Macroeconomics of Decarbonisation provides a guide to the macroeconomic fundamentals of decarbonisation. It identifies the major economic transformations, both over the long- and short-run, and the roadblocks requiring policy intervention. It proposes a macroeconomic policy agenda for decarbonisation to achieve the climate goals of the international community.
Recent Developments in Green Finance, Green Growth and Carbon Neutrality
Recent Developments in Green Finance, Green Growth and Carbon Neutrality explains the role of green finance in transforming the global economy into a green and carbon neutral one. The book explores the synergy between green growth strategy and green finance policy (2G) and carbon neutrality in an economic-environmental-financial framework that helps readers understand how to design a feasible path toward achieving carbon neutrality through economic initiatives and financial innovations. It shows how to apply the notion of green growth to organizations and illustrates the need for a theory of energy economics that estimates the benefits of a low-carbon transition and carbon neutrality. Sections include historical background, relevant literature necessary to understand topics, the notions of green finance, green growth and carbon neutrality from an economic perspective. Other sections cover models and methods of carbon neutrality assessment, the nexus between carbon neutrality and economic development, green growth and financial development, green finance and green energy exploration and consumption, and more. Two chapters specifically focused on UN SDGs 7 and 13 round out the book, and it concludes with a final section that gathers and integrates the concepts discussed throughout the book.
Economics, Social Science and Pluralism
This book maintains that economics is a social science whose mission is to explain and, when possible, predict, phenomena of the real-world economy. This is essential reading for anyone who wants to see economics return to its origins as a social science.
The Macroeconomics of Decarbonisation
Decarbonisation is the reduction of carbon dioxide emissions using low carbon power sources, lowering output of greenhouse gasses into the atmosphere. This is essential to meet global temperature standards set by international climate agreements. To limit global warming to 1.5簞C, hence avoiding the worst-case scenarios predicted by climate science, the world economy must rapidly reduce its emissions and reach climate neutrality within the next three decades. This will not be an easy journey. Shifting away from carbon-intensive production will require a historic transformation of the structure of our economies. Written by a team of academics linked to the European think tank Bruegel, The Macroeconomics of Decarbonisation provides a guide to the macroeconomic fundamentals of decarbonisation. It identifies the major economic transformations, both over the long- and short-run, and the roadblocks requiring policy intervention. It proposes a macroeconomic policy agenda for decarbonisation to achieve the climate goals of the international community.
Understanding Ludwig Lachmann's Economics
Ludwig Lachmann is a central but underappreciated figure within the Austrian school of economics. Although his understanding of institutions, his appreciation of the heterogeneity of capital, his emphasis on subjectivity, and his focus on the dynamism and uncertainty of the real world have become dominant positions amongst Austrian economists, he is still viewed as something of an outsider. As such, the contributions of Lachmann's economics are arguably misunderstood. This Element attempts to tease out and discuss the critical contributions of Lachmann's economics. Arguably, one way in which to understand Lachmann's economics is by seeing it as unified in considering, in various ways, a single conceptual 'problem' - the apparent tension between the dynamic nature of social reality and the intelligible nature of the social world. Approaching Lachmann with this theme in mind allows us to put things together more coherently than other exegetical strategies.
Markets and Power in Digital Capitalism
Philipp Staab takes readers on a thought-provoking journey through the virtual realm, exploring how digital surveillance and evaluation practices have infiltrated every aspect of our lives. Staab's compelling analysis challenges us to confront the realities of surveillance capitalism and the urgent need to address the inequities it perpetuates.
Concordian Economics, Vol. 2
This is the second volume of a two-part series on Concordian economics, an innovative paradigm that builds upon the Aristotelian-Aquinian tradition of economic justice. Having introduced Concordian economics in the first volume as a compelling research paradigm that addresses the limitations of mainstream economics, this second installment takes the exploration further by examining its real-world applications in four policy areas.With a focus on industrial organization, labor markets, monetary, and fiscal policy, the author advocates for a transformative approach to economic rights and responsibilities. By promoting a moral economy, this book offers a substitute to the Pac-Man approach to industrial organization. The book challenges traditional notions by discussing the ownership rights concerning larger corporations and offering visionary solutions, in the steps of Louis O, Kelso, empowering workers and employees to participate in the ownership of robots and artificial intelligence. The Fed has given a nod of approval to the creation of a new Concordian monetary system. Following the advice of eight Nobel Laureates in economics, the proposed fiscal reforms emphasize taxing only the value of land and natural resources, ushering in a society where the use of our natural resources and machines serves the common good, economic freedom thrives, and forced income redistribution becomes obsolete. This book illustrates a vivid vision of a world founded on universal economic rights and responsibilities, offering fresh perspectives on a more just and sustainable future. It appeals to scholars and students of economics and related fields, as well as anyone interested in a free but just economic system.
Trading in Local Energy Markets and Energy Communities
This book presents trading in local energy markets and communities. It covers electrical, business, economics, telecommunication, information technology (IT), environment, building, industrial, and computer science and examines the intersections of these areas with these markets and communities. Additionally, it delivers an vision for local trading and communities in smart cities. Since it also lays out concepts, structures, and technologies in a variety of applications intertwined with future smart cities, readers running businesses of all types will find material of use in the book. Manufacturing firms, electric generation, transmission and distribution utilities, hardware and software computer companies, automation and control manufacturing firms, and other industries will be able to use this book to enhance their energy operations, improve their comfort and privacy, as well as to increase the benefit from the energy system. This book is also used as a textbook for graduate level courses.
Werner Sombart and the 'Spirit' of Modern Capitalism
This book illuminates the work of Werner Sombart, a key contemporary of Max Weber, showing how his writing and thinking laid the groundwork for concepts of modern capitalism. Although the notion of the 'spirit' of modern capitalism is most associated with Weber, it was Sombart who first used this phrase, with Weber focusing mainly on socioeconomics while Sombart continued to develop his ideas around modern capitalism. This book critically analyses Sombart's groundbreaking work, "Der moderne Kapitalismus" among his other writings to demonstrate how they may be read as a complementary alternative to Weber, providing a more detailed, sustained, and a comprehensive account of the genesis and nature of modern capitalism. This book will be of interest to a scholarly audience including students and researchers of the history of economic thought, as well as areas of sociology, politics, and political economy.
Entrepreneurship and Development for a Green Resilient Economy
The COVID-19 outbreak aggravated recurrent economic issues and problems of developing a resilient economy and technological development inequality between entities, countries, production structure, unemployment and social disorders that have resulted in the accentuating of political, economic, business and trade relations. Resilient economies, technological development and green entrepreneurship in the New Normal present opportunities and challenges in achieving a balanced transition. Entrepreneurship and Development for a Green Resilient Economy covers extensive ground in contemporary green entrepreneurship, from fundamental theories such as business investments and venturing capital to emerging and new concepts that reflect the critical challenges of the current times, including technological development slowdowns, economic resilience, economic systems downfalls, digitalization, green business footprints, and many more topics. Lab for Entrepreneurship and Development is Emerald's innovative book series on the study of entrepreneurship and development, striving to set the agenda for advancing research on entrepreneurship in the context of finance, economic development, innovation, and the society at large.
