The Theory of the Leisure Class
"The Theory of the Leisure Class" by Thorstein Veblen is a groundbreaking work in economic and social theory. Published in 1899, this book offers a critical analysis of the social and economic structures of the late 19th-century capitalist society. Veblen introduces the concept of "conspicuous consumption," highlighting how the leisure class, or those who do not engage in productive labor, engage in the display of wealth and status through extravagant spending. His incisive commentary delves into the social functions of wealth and leisure, examining how they are used to denote status within different social classes.Veblen's work challenges traditional economic views, presenting a satirical and insightful critique of consumerism and the social stratification it creates. This seminal book is not just an economic study but a cultural critique that remains relevant in understanding the dynamics of wealth, class, and consumer culture in modern society.
In Search of a Moral Foundation for Capitalism
The search for a moral foundation for capitalism has a long history that continues to unfold, yet many are unaware of this search or its implications for the future of capitalism. The recent pandemic has uncovered cracks in the foundation of capitalism and raised doubts regarding its ability to meet the broader needs of society. In Search of a Moral Foundation for Capitalism explains the continuing demand for a moral foundation from the perspective of business leaders, business educators, and policymakers, and tells the story of the search for that moral foundation through its leading characters. By presenting the life stories and writings of these leading characters - from Adam Smith to Amartya Sen - this book reveals the rich moral critique provided by these great thinkers and explains how that rich critique was lost through the influence of the Chicago School and its emphasis on self-interest.
The Political Economy of Reforms and the Remaking of the Proletarian Class in China, 1980s-2010s
This book comprehensively investigates the position of China's working class between the 1980s and 2010s and considers the consequences of economic reforms in historical perspective. It argues the case that, far from the illusion during the Maoist period that a new society had been established where the working classes held greater political and economic autonomy, economic reforms in the post-Mao era have led to the return of traditional Marxist proletariats in China. The book demonstrates how the reforms of Deng Xiaoping have led to increased economic efficiency at the expense of economic equality through an extensive case study of an SOE (state-owned enterprise) in Sichuan Province as well as wider discussions of the emergence of state capitalism on both a micro and macroeconomic level. The book also discusses workers' protests during these periods of economic reform to reflect the reformation of class consciousness in post-Mao China, drawing on Marx's concept of a transition from a'class-in-itself' to a 'class-for-itself'. It will be valuable reading for students and scholars of Chinese economic and social history, as well as political economy, sociology, and politics.
Determinants of Financial Inclusion in Sub-Saharan Africa
Doctoral Thesis / Dissertation from the year 2021 in the subject Economics - Finance, grade: Distinction (4.81), Wilberforce Island (Post Graduate School), course: Banking and Finance, language: English, abstract: The study examines the determinants of access to and usage of financial services in sub-Saharan Africa. The study employed panel data spanning 2006 to 2018 from 12 sub-Sahara African countries. The ex-post facto research design and econometric techniques were employed to explain the determinants of financial inclusion. The descriptive statistics was employed to describe the nature of the data. The LLC and IPS tests of stationarity indicated that all the variables were stationary at first difference. The Pearson pairwise correlation test revealed that the strength of association among the regressors were weak. The panel data was estimated using Pooled OLS, Fixed Effects, and Random Effects panel estimation techniques. The findings show that aside GDP per capita and political stability that had insignificant effect on access; money supply and regulatory quality had a significant effect on access to financial services. Furthermore, the findings suggest that aside from regulatory quality and deposit rate, GDP per capita and automated teller machine exerts a significant effect on financial usage. The study further reveals that money supply and lending rate significantly stimulates usage of loan accounts, while regulatory quality was insignificant. The study concludes that a combination of macroeconomic, institutional, and bank-level factors determine the level of financial inclusion in sub-Saharan Africa. The study recommends that regulators should encourage a conducive environment that spurs competition and innovation in the private sector. This may encourage financial access and usage due to economic growth and rising GDP per capita levels. Regulators should adopt policies like Regulatory Impact Assessment (RIA) in order to enhance the regulatory quality
Social & Economic Studies Within the Framework of Emerging Global Developments - Volume 4
This book is the fourth volume of Social and Economic Studies within the Framework of Emerging Global Developments. It includes empirical and theoretical original chapters written by researchers from different countries and universities. The target audience of this book is researchers, students and academics who are interested in social and economic studies.
Discounting the Future
A pioneering exploration of the defining traits and contradictions of our relationship to the future through the lens of discounting Forest fires, droughts, and rising sea levels beg a nagging question: have we lost our capacity to act on the future? Liliana Doganova's book sheds new light on this anxious query. It argues that our relationship to the future has been trapped in the gears of a device called discounting. While its incidence remains little known, discounting has long been entrenched in market and policy practices, shaping the ways firms and governments look to the future and make decisions accordingly. Thus, a sociological account of discounting formulas has become urgent. Discounting means valuing things through the flows of costs and benefits that they are likely to generate in the future, with these future flows being literally dis-counted as they are translated in the present. How have we come to think of the future, and of valuation, in such terms? Building on original empirical research in the historical sociology of discounting, Doganova takes us to some of the sites and moments in which discounting took shape and gained momentum: valuation of European forests in the eighteenth and nineteenth centuries; economic theories devised in the early 1900s; debates over business strategies in the postwar era; investor-state disputes over the nationalization of natural resources; and drug development in the biopharmaceutical industry today. Weaving these threads together, the book pleads for an understanding of discounting as a political technology, and of the future as a contested domain.
Chilean Economic Development Under Neoliberalism
This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th century to the present and combines economic analysis with a political economy approach. This title is also available as Open Access on Cambridge Core.
Imperfect Perception and Stochastic Choice in Experiments
The branch of psychology that studies how physical objects are perceived by subjects is known as psychophysics. A feature of the experimental design is that the experimenter presents objectively measurable objects that are imperfectly perceived by subjects. The responses are stochastic in that a subject might respond differently in otherwise identical situations. These stochastic choices can be compared to the objectively measurable properties. This Element offers a brief introduction to the topic, explains how psychophysics insights are already present in economics, and describes experimental techniques with the goal that they are useful in the design of economics experiments. Noise is a ubiquitous feature of experimental economics and there is a large strand of economics literature that carefully considers the noise. However, the authors view the psychophysics experimental techniques as uniquely suited to helping experimental economists uncover what is hiding in the noise.
Dog Economics
Archaeologists, anthropologists, and evolutionary biologists study the origins of our relationship with dogs and how it has evolved over time. Sociologists and legal scholars study the roles of dogs in the modern family. Veterinarian researchers address the relationship in the context of professional practice, yet economists have produced scant scholarship on the relationship between humans and dogs. Dog Economics applies economic concepts to relationships between people and dogs to inform our understanding of their domestication. It interprets their contemporary role as both property and family members and explores factors that affect the demand for dogs as well as market failures of the American puppy market. Offering economic perspectives on our varied relationships with dogs, this book assesses mortality risks and addresses end-of-life issues that commonly arise. It develops a framework for classifying canine occupations, considers the impact of pet insurance on euthanasia, and assesses the social value of guide dogs.
Identity, Capabilities, and Changing Economics
Mainstream economics assumes economic agents act and make decisions to maximize their utility. This model of economic behavior, based on rational choice theory, has come under increasing attack in economics because it does not accurately reflect the way people behave and reason. The shift towards a more realistic account of economic agents has been mostly associated with the rise of behavioral economics, which views individuals through the lens of bounded rationality. Identity, Capabilities, and Changing Economics goes further and uses identity analysis to build on this critique of the utility conception of individuals, arguing it should be replaced by a conception of economic agents in an uncertain world as socially embedded and identified with their capabilities. Written by one of the world's leading philosophers of economics, the book develops a new approach to economics' theory of the individual, explaining individuals as adaptive and reflexive rather than utility maximizing.
Chilean Economic Development Under Neoliberalism
This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th century to the present and combines economic analysis with a political economy approach. This title is also available as Open Access on Cambridge Core.
Dog Economics
Archaeologists, anthropologists, and evolutionary biologists study the origins of our relationship with dogs and how it has evolved over time. Sociologists and legal scholars study the roles of dogs in the modern family. Veterinarian researchers address the relationship in the context of professional practice, yet economists have produced scant scholarship on the relationship between humans and dogs. Dog Economics applies economic concepts to relationships between people and dogs to inform our understanding of their domestication. It interprets their contemporary role as both property and family members and explores factors that affect the demand for dogs as well as market failures of the American puppy market. Offering economic perspectives on our varied relationships with dogs, this book assesses mortality risks and addresses end-of-life issues that commonly arise. It develops a framework for classifying canine occupations, considers the impact of pet insurance on euthanasia, and assesses the social value of guide dogs.
Identity, Capabilities, and Changing Economics
Mainstream economics assumes economic agents act and make decisions to maximize their utility. This model of economic behavior, based on rational choice theory, has come under increasing attack in economics because it does not accurately reflect the way people behave and reason. The shift towards a more realistic account of economic agents has been mostly associated with the rise of behavioral economics, which views individuals through the lens of bounded rationality. Identity, Capabilities, and Changing Economics goes further and uses identity analysis to build on this critique of the utility conception of individuals, arguing it should be replaced by a conception of economic agents in an uncertain world as socially embedded and identified with their capabilities. Written by one of the world's leading philosophers of economics, the book develops a new approach to economics' theory of the individual, explaining individuals as adaptive and reflexive rather than utility maximizing.
Complexity Economics and Sustainable Development
The Sustainable Development Goals are global objectives set by the UN. They cover fundamental issues in development such as poverty, education, economic growth, and climate. Despite growing data across policy dimensions, popular statistical approaches offer limited solutions as these datasets are not big or detailed enough to meet their technical requirements. Complexity Economics and Sustainable Development provides a novel framework to handle these challenging features, suggesting that complexity science, agent-based modelling, and computational social science can overcome these limitations. Building on interdisciplinary socioeconomic theory, it provides a new framework to quantify the link between public expenditure and development while accounting for complex interdependencies and public governance. Accompanied by comprehensive data of worldwide development indicators and open-source code, it provides a detailed construction of the analytic toolkit, familiarising readers with a diverse set of empirical applications and drawing policy implications that are insightful to a diverse readership.
Shifting Sands
In contrast to the West, the BRICS+ consortium (Argentina, Brazil, China, Egypt, Ethiopia, India, Iran, Russia, Saudi Arabia, South Africa, and the United Arab Emirates) is widely acknowledged as an embodiment of the broader phenomenon known as the "Rise of the Rest." This occurrence, which is representative of modern-day global affairs, signifies the progressive development of the economic, political, and military capabilities of specific nations and their coalitions. As a result, the Western powers' formerly hegemonic dominance has notably diminished. Simultaneously, the Gulf Cooperation Council (GCC) has conventionally been regarded as an alliance that emerged during a period when cooperation between the West and countries that produced energy was crucial. However, improved connectivity between the BRICS+ and the GCC (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and Oman) is possible, especially with Saudi Arabia and the United Arab Emirates as members, due to their complementary natures and ability to reconcile divergences. The aforementioned potential is founded upon the BRICS nations' ascent to a crucial position in global cooperation and development, in contrast to the GCC countries' ongoing dominance as primary providers of energy on an international scale. The potential exists for these blocs to strengthen their individual positions on the international stage through the amalgamation. This dynamic environment presents a thought-provoking subject for analysis, in which the interplay between GCC and BRICS dynamics takes place while the United States maintains its prominent position as a global actor. Amid the persistent power struggles and significant geopolitical realignments, there is a possibility that strategic and economic convergences will arise between the GCC and BRICS, thereby exerting additional influence on the global geopolitical arena. The objective of this book is to comprehensively examine the evolving dynamics between the GCC and the BRICS consortium from a variety of vantage points. Enriching and contributing to a nuanced and well-informed discourse on the evolving relationship between the GCC and the BRICS+ should be contingent on the outcome that ensues. Practical insights and actionable recommendations are prioritised in order to provide stakeholders with the necessary tools to navigate the intricate geopolitical landscape undergoing a significant transformation.
Where Cross-Border Payments Fail
Embark on a riveting exploration into the heart of global finance with "Where Cross-Border Payments Fail: The Need for Ripple's XRP Ledger." This compelling non-fiction journey unveils the intricate web of challenges plaguing cross-border transactions, exposing the hidden pitfalls that hinder seamless financial interactions on a global scale.In this meticulously researched narrative, delve into the historical intricacies of cross-border payments, unveiling the cumbersome processes and archaic systems that have long fueled frustrations. Each chapter unfurls a different layer of the financial labyrinth, from the sluggish pace of international transfers to the exorbitant costs that act as barriers to economic growth.As the spotlight shifts to Ripple's revolutionary XRP Ledger, witness a transformative vision take shape. Ripple's solution emerges as a beacon of hope, addressing the very pain points that have plagued the industry for decades. The XRP Ledger's prowess in enhancing speed, reducing costs, and promoting transparency becomes evident, offering a glimpse into the future of cross-border transactions.With an expertly crafted narrative, this book transcends the mundane, inviting readers to understand the intricacies of financial systems and the pressing need for evolution. A call for modernization echoes throughout, backed by insights from industry experts, regulators, and the pioneers at Ripple. It's more than a book; it's a roadmap to a connected future, where cross-border payments are not just efficient but transformative. Brace yourself for a journey that challenges the status quo and propels you into the forefront of financial innovation.
The Covid-19 Pandemic
This monograph evaluates public policy responses to the Covid-19 pandemic through a public choice lens. The book compares two prominent, albeit mutually exclusive, theories in social sciences--public interest theory and public choice theory--and explores how their predictions perform within the framework of the Covid-19 pandemic. The chapters present different pandemic policies alongside empirical data in order to draw conclusions about their efficacy, and, in turn, draw conclusions about the veracity of each theory. By the end of the volume, the reader will be able to draw their own conclusions about whether the pandemic policy responses served the public interest, as public interest theory suggests, or the personal interests of the politicians who implemented them, as public choice theory holds.
The Dutch Paper Industry from 1580 to the Present
This open access book is the first to provide an analysis of the Dutch paper industry over a period encompassing six centuries. Responding to a trend of renewed scholarly interest in paper industries and production, the book seeks to illuminate the factors behind this relatively small national industry's centuries-long survival. Previous historical research has shown that sets of colonial, trade, merchant and family networks, tightly interwoven through a dense web of capital, were crucial for paper production and trade in early modern Europe. This book situates the Dutch paper industry within these overlapping contexts and their shifting dynamics over time, and historicizes the challenges and obstacles it had to overcome through four phases of capitalism: the rise of Dutch capitalism (1580-1815), Dutch monarchic liberalism (1815-1914), Fordism (1914-1980), and post-Fordism (1980 until now). Each chapter covers not only technological advancements in the industry, but its development alongside further determining dimensions, such as state-industry relations (industry policies), labour-capital relations (unions) and competition and cooperation, overall painting a picture of how the industry adapted to and endured changes in national and global networks surrounding the industry. This book will be of broad interest to scholars of economic and business history, as well as industrial history, political economy, and management studies. "This publication was supported by funds from the Publication Fund for Open Access Monographs of the Federal State of Brandenburg, Germany."
Monetary Policy Implementation
This book addresses the implementation of monetary policy (MP) and focuses on the operations used by the central banks to implement their policies: the so-called operational framework of MP. The operational framework has become of paramount importance in the last fifteen years, due to the profound transformations taking place in this period. The financial crisis, started in August 2007, has rapidly changed the way in which MP is implemented around the world. Further, innovations have been introduced to address other crises in the following years: a new set of "unconventional" instruments have been adopted, like the large-scale purchases of private and government securities and the long-term refinancing operations. The balance sheets of central banks have increased by huge amounts. The recent surge of inflation has induced several central banks to exit those exceptional policies. However, instead of going back to the traditional "interest rate steering" approach, they are going towards a "new normal" that combines some features of that approach with others inherited from the "quantitative easing" experience. The book therefore addresses the following questions: Which are the common stylized patterns of the unconventional MP across the different countries? Did the economic profession work out a theoretical framework within which to place the unconventional MP? Which are the issues related to the exit strategy from unconventional MP? Which are the main features of the operational framework under the "new normal" approach? This book answers these questions by looking at the experiences of the European Central Bank, the Federal Reserve System alongside other central banks, and providing some original modelling and empirical evidence, which will be of interest to academics, researchers in banking and finance, policy makers, and practitioners in the financial industry.
International Trade and Inclusive Economic Growth
Examining economic growth through the lens of poverty, social exclusion, and economic inequality, Harold Delfin Angulo Bustinza offers an econometric analysis of the effects of international trade between Peru and China, which has seen an average annual growth of 22% over the past two decades. China thus plays a key role in Peru's economic growth, whether in imports of primary goods, exports of capital and consumer goods, or direct investment. However, income and wealth inequality in Peru have not improved over the years. Even so, it has been found that growth in international trade between the two countries has the potential to positively benefit Peru's inclusive economic growth. With global development still on the rise, it is pivotal for us to ensure that all actors of society can benefit from that development, and not just the most privileged. Advocating for the importance of promoting openness in trade, International Trade and Inclusive Economic Growth highlights China and Peru's unique relationship to prioritize fair and equitable growth for all.
Ripple's Roadmap
Embark on a riveting journey into the future of finance with "Ripple's Roadmap: How Digital Assets Will Transform Cross-Border Payments." Delve into the origins of Ripple, a pioneering force reshaping the financial landscape, as we unveil the company's mission, values, and the pivotal role played by the digital asset, XRP.In the first chapters, explore RippleNet, a revolutionary network connecting payment providers globally. Discover the standardized technology, real-time settlement capabilities, and the myriad use cases across various industries. Dive into xRapid, where XRP takes center stage, transforming liquidity by minimizing costs and unlocking capital. Uncover the power of xCurrent, a cutting-edge Interledger solution, eliminating the need to move funds between ledgers and providing transparency into global payments.As the narrative unfolds, traverse the realms of xVia, a standard API streamlining payments globally, and witness RippleNet in action through real-world use cases. Beyond payments, unlock the doors to a new era with smart contracts, NFTs, and the Internet of Value, where RippleNet stands as the foundational network connecting the world's value.This book isn't just a roadmap; it's a gateway to understanding the future of cross-border payments. With insights into Ripple's innovations, principles, and the dynamic landscape of digital assets, readers gain a comprehensive understanding of how blockchain technology is revolutionizing finance. Whether you're an industry enthusiast, investor, or simply curious about the future of money, "Ripple's Roadmap" offers a compelling narrative that transcends boundaries, inviting you to envision a financial future transformed by RippleNet and XRP.
The Digital Dollar Revolution
Embark on a Journey Through the Heart of the Financial FutureImagine a world where the very essence of transactions, savings, and investments are revolutionized. "The Digital Dollar Revolution: How E-Currency Shapes American Lives" offers readers an exhilarating exploration into this emerging reality. Delve deep into the profound changes e-currency brings to society, and discover how the digital dollar is reshaping the American dream.Step by step, the book unravels the complex web of technology, economy, and policy that forms the backbone of the digital dollar. Through insightful analysis of its history and development, you gain a robust understanding of digital versus traditional currency, and the technological innovation driving this dramatic shift. Chapter 1: Understanding the Digital Dollar illuminates the beginnings of this financial phenomenon, setting the stage for a captivating narrative.Chapter 2: The Digital Economy delves into the impact on e-commerce and consumer behavior, revealing the foundations of the gig economy revolution. As the digital dollar intertwines with daily life, your perspective on personal finances and commerce will evolve.The narrative takes a critical turn with Chapter 3: Financial Inclusion and Exclusion, examining the potential to break banking barriers while also considering the risk of deepening inequalities. With Chapters 4 and 5 addressing privacy and cybersecurity, the book exposes the delicate balance between data security and civil liberties, painting a vivid picture of the new challenges we face.From shedding light on how digital currency is recalibrating the job market (Chapter 6: Digital Currency and American Jobs) to exploring the far-reaching effects on banking and finance (Chapter 8: The Ripple Effect on Banking and Finance), this book leaves no stone unturned. It boldly addresses the politics of a digitized economy, the global currency race, and the striking cultural shifts that accompany this financial metamorphosis.Join the ranks of the informed and become a part of "The Digital Dollar Revolution". As you turn the final pages, you won't just understand the road ahead for the average American-you'll be equipped to navigate it.
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.
Impunity and Capitalism
Whose fault are financial crises, and who is responsible for stopping them, or repairing the damage? Impunity and Capitalism develops a new approach to the history of capitalism and inequality by using the concept of impunity to show how financial crises stopped being crimes and became natural disasters. Trevor Jackson examines the legal regulation of capital markets in a period of unprecedented expansion in the complexity of finance ranging from the bankruptcy of Europe's richest man in 1709, to the world's first stock market crash in 1720, to the first Latin American debt crisis in 1825. He shows how, after each crisis, popular anger and improvised policy responses resulted in efforts to create a more just financial capitalism but succeeded only in changing who could act with impunity, and how. Henceforth financial crises came to seem normal and legitimate, caused by impersonal international markets, with the costs borne by domestic populations and nobody in particular at fault.
Foreign Banks and Global Finance in Modern China
In this wide-ranging study, Ghassan Moazzin sheds critical new light on the history of foreign banks in late nineteenth and early twentieth century China, a time that saw a substantial influx of foreign financial institutions into China and a rapid increase of both China's foreign trade and its interactions with international capital markets. Drawing on a broad range of German, English, Japanese and Chinese primary sources, including business records, government documents and personal papers, Moazzin reconstructs how during this period foreign banks facilitated China's financial integration into the first global economy and provided the financial infrastructure required for modern economic globalization in China. Foreign Banks and Global Finance in Modern China shows the key role international finance and foreign banks and capital markets played at important turning points in modern Chinese history.
Complexity Economics and Sustainable Development
The Sustainable Development Goals are global objectives set by the UN. They cover fundamental issues in development such as poverty, education, economic growth, and climate. Despite growing data across policy dimensions, popular statistical approaches offer limited solutions as these datasets are not big or detailed enough to meet their technical requirements. Complexity Economics and Sustainable Development provides a novel framework to handle these challenging features, suggesting that complexity science, agent-based modelling, and computational social science can overcome these limitations. Building on interdisciplinary socioeconomic theory, it provides a new framework to quantify the link between public expenditure and development while accounting for complex interdependencies and public governance. Accompanied by comprehensive data of worldwide development indicators and open-source code, it provides a detailed construction of the analytic toolkit, familiarising readers with a diverse set of empirical applications and drawing policy implications that are insightful to a diverse readership.
Reading John Maynard Keynes
This book focuses on understanding the thinking of John Maynard Keynes stressing the evolution of his thinking from adherence to the classic Quantity Theory of Money to the development of his own novel theories of unemployment, stagnation and instability in modern capitalism and the need to have active policies to combat these malaises.
From the Great Recession to the Covid-19 Pandemic
This volume narrates the financial history of the United States during a period of great upheaval in the early part of the 21st century.It is divided into three chronological sections: the first section describes the recovery of financial markets after the Great Recession. It begins with an overview of the state of the economy at the start of the new decade, including some of the political storms affecting the economy and financial markets. It explores the uneven nature of the recovery and volatility in the Treasury during these years. The second section sets forth regulatory responses to the Financial Crisis of 2008, including the massive fines imposed on large banks by a swarm of regulators. It examines the "too big to jail" prosecution model, cases involving Libor and foreign exchange manipulation and the impact of rogue traders. It also looks at the developments in payment systems, rise of crowdfunding as a source of capital, and high-frequency trading. The third section describes the rules adopted under the Dodd-Frank Act of 2010 that broadly affected financial markets. It also recounts the Trump trade wars and ends with an account of the financial and economic turmoil that occurred during the Covid-19 pandemic in 2020.The volume will be an essential addition to academic and public libraries with readers drawn from business schools, departments of economics and finance, and historians.
The Art and Science of Econometrics
The primary focus of this book is on providing an understanding of statistical properties behind econometric methods. By concentrating on dynamic structural linear models like state-space models and the Bayesian approach, the book alludes to the fact that this methodological study is not only a science but also an art.
Asian Trade and Investment in Europe
This book provides deep insight into the flow of foreign direct investment from Asia to Europe. It assesses the topic of trade and investment from the reverse direction, considering Asian countries as the capital investors into EU countries.
What Is Financialization?
This book introduces a new and original analytic approach to defining, understanding, and explaining financialization.
Behavioral Political Economy and Democratic Theory
Drawing on current debates at the frontiers of economics, psychology, and political philosophy, this book explores the challenges that arise for liberal democracies from a confrontation between modern technologies and the bounds of human rationality.
Economic Life at the Dawn of History in Mesopotamia and Ancient Egypt
The book is a study of the emergence of market economy with modern economic institutions in the early civilizations of Mesopotamia and ancient Egypt from the third and early second millennium B.C.E. The study covers the Sumerian, Old Assyrian and Old Babylonian periods. The economic analysis is based on Institutional Economics theory, and the data on the Old Assyrian period is based on the work of many scholars that transliterated, translated and studied many of the 23,000 documents of the Old Assyrian traders found in old Kanesh in Central Turkey.The book includes chapters on the institutions of: property rights; the markets and means of exchange; the organization and finance of trade; and enforcement institutions from the judicial, social and political systems. In addition, it gives a detailed analysis of: the early means of exchange (money) like the use of volume measure of barely and weight measure of copper and silver in Sumer; various instruments establishing property rights such as Kuduru border stones, seals and inserted cones in walls; detailed analysis of the communication system and its components; and the description of the modern financial instruments used to include, for example, limited partnerships.
Industry Dynamics and Industry 4.0
This book represents a collaboration of leading international experts on the study of innovation management, grouping experiences from various countries within an empirical context while using a consistent methodology and analytical framework.
Mapping Mainstream Economics
Mapping Mainstream Economics: Genealogical Foundations of Alternativity seeks to establish a definition of the mainstream, and by extension the alternatives to it, by adopting a genealogical approach: tracing the methodological development of the economic mainstream through its ancestry.
Economic Innovations
Economic system innovations have had a profound impact on our lives, from the invention of banking in the middle ages to the United Nations institutions post-WWII. This book is a series of vignettes about changes to Australian institutions and systems that have significantly improved economic and social well-being.
Modern Money Theory
This book explains how central banks, banks and governments create money. Written in an accessible style, this book provides an introduction to modern monetary theory without requiring any prior knowledge of economics. It covers the most important aspects of monetary theory, including inflation targeting, government spending, and international trade, as well as economic policy to achieve macroeconomic goals, such as price stability, full employment and sustainable use of resources. Accordingly, it offers a valuable asset for students of economics, central bankers, banking professionals, and academics alike.
The Digital Dollar Revolution
Embark on a Journey Through the Heart of the Financial FutureImagine a world where the very essence of transactions, savings, and investments are revolutionized. "The Digital Dollar Revolution: How E-Currency Shapes American Lives" offers readers an exhilarating exploration into this emerging reality. Delve deep into the profound changes e-currency brings to society, and discover how the digital dollar is reshaping the American dream.Step by step, the book unravels the complex web of technology, economy, and policy that forms the backbone of the digital dollar. Through insightful analysis of its history and development, you gain a robust understanding of digital versus traditional currency, and the technological innovation driving this dramatic shift. Chapter 1: Understanding the Digital Dollar illuminates the beginnings of this financial phenomenon, setting the stage for a captivating narrative.Chapter 2: The Digital Economy delves into the impact on e-commerce and consumer behavior, revealing the foundations of the gig economy revolution. As the digital dollar intertwines with daily life, your perspective on personal finances and commerce will evolve.The narrative takes a critical turn with Chapter 3: Financial Inclusion and Exclusion, examining the potential to break banking barriers while also considering the risk of deepening inequalities. With Chapters 4 and 5 addressing privacy and cybersecurity, the book exposes the delicate balance between data security and civil liberties, painting a vivid picture of the new challenges we face.From shedding light on how digital currency is recalibrating the job market (Chapter 6: Digital Currency and American Jobs) to exploring the far-reaching effects on banking and finance (Chapter 8: The Ripple Effect on Banking and Finance), this book leaves no stone unturned. It boldly addresses the politics of a digitized economy, the global currency race, and the striking cultural shifts that accompany this financial metamorphosis.Join the ranks of the informed and become a part of "The Digital Dollar Revolution". As you turn the final pages, you won't just understand the road ahead for the average American-you'll be equipped to navigate it.
The China-Led Belt and Road Initiative and Its Reflections
This book analyzes the origins and the impacts of China's Belt and Road Initiative (BRI) on diplomacy, economy (trade, investment, finance), and security among selected host countries and regions in Asia, Africa, and the European Union.
The Americanisation of the World Trade Order
This book provides insights into the world trading order that is informed by power--in particular, the unidirectional norm imparting impact of US foreign trade law and practice on its trading partners and non-State actors. In this context, the recent tensions between the US and China have brought to the fore several fundamental and systemic questions. Underpinning these is the challenge of accommodating economic power under the rule of international economic law, including inculcating responsibility in its engagement.In the light of the recent US challenges to the world trading order, this timely publication will help us understand how the US will continue to shape the international economic order.
Complexity Economics
This book demonstrates how to apply complexity science to economics, in an effective and instructive way, in the interest of life-enhancing policies.
Classical Economics, Keynes and Money
Classical Economics, Keynes and Money casts new light on an approach to economic theory and policy that combines the modern classical theory of prices and income distribution with a Keynesian analysis of money and finance.
A Decade of Armageddon
This as-it-happened review of the causes, consequences, and repercussions of the 2008 Global Financial Crisis is more than a history lesson - it's a look into the future. These essays by Dr Susanne Trimbath, were first published between 2008 and 2015 on newgeography.com. They have been edited to be read as a free-standing publication, grouped together into the following chapters: BailoutsCongressional Hearings and LegislationHomeowners and MortgagesFederal Reserve and Treasury ActionsBank/Broker BehaviorSystemic IssuesPublic ReactionThe hardback is a limited edition of 100 copies, signed by the author. Every copy sold will include a US$5 donation to the Diane Fossey Foundation
Power and Inequality
Power is a broad and complex concept that cuts across all fields in humanities and social sciences. Written by a leading historian of economic thought, Power and Inequality presents a wide-ranging and multi-disciplinary analysis of power as an economic and social issue. Its aim is not to formulate a new abstract theory of power but rather to illustrate the different ways in which power is used to exacerbate social and economic inequality. Issues such as division of labour and its evolution, different forms of capitalism up to the money-manager economy, the role of networks (from the family to mason lodges and the mafia), the state and the international arena, culture and the role of the masses are considered. The analysis of these elements, causing inequalities of various kinds, is a prerequisite for devising progressive policy strategies aiming at a reduction of inequalities through a strategy of reforms.
Nudging as an Instrument of Consumer Policy
Seminar paper from the year 2019 in the subject Economics - Micro-economics, grade: 1,5, University of Hohenheim, course: Verbraucherpolitik, language: English, abstract: How can nudge apply in policies that attracts people consume sustainable? This is the main research question we discuss in this paper. First, we focus on a conceptualization of nudging and toolkits, then bring the theoretic tools into practical cases, which present concrete examples of nudging. Behavioral economics has evolved and seems to show consistent patterns that are not easily reconciled with the axioms of behavior in neoclassical economics. Thus, it is an instrumental way to apply behavioral economics, which brings social psychology into policy making. Nudge, one of the policy instruments, helps enhance or improve the implementation of legislation and regulations, or even substitute traditional policies. Nudging influences behavior towards specific outcomes without forcing any changing values of people. However, there are still limitations of nudge that are ineffectiveness, inefficiency and the lack of evidences.
Meadowlark Economics
ForewordBy BillThis is an unusual and valuable book in many respects. Its author, of course, is an economist - but not one devoted to the prevailing theology of his profession. Economists mostly work with the dedication of beavers or bees toward the great goals of More. Growth, expansion, and acceleration are the sacred words of their creed. And they have been enormously successful; their faith has spread around the world, crowding out all other creeds.And yet there is always something rather, well, dismal about the field. This comes, I think, from its disciples' firm determination to wall off certain questions. For instance, "What makes for happiness?" Or "How do I figure out what I want from life?" They can answer these only by pointing to our consumer behavior. We must want what we buy. But they must sense the tautological absurdity of that line of argument.Now comes James Eggert, one of a small school of economists who has begun to think outside the box. And it is curious that he soon delves deeply into a concept long used by his tribe: value. In his essay "Meadowlark Economics," Eggert inscribes it - marvelously - with real meaning, instead of the stale and transactional definition to be found in the front of the Econ textbooks. The meadowlark's "song is pleasing, his color and swoop-of-flight enchanting."Suddenly we are using good old nouns and adjectives, the sweet and solid Anglo-Saxon words instead of the ponderous Latinate syllables of the professional journal. These things are a form of wealth and are valuable, he insists. And if you assign them a value in your heart, then you are in a position to begin to assess both the positives and the negatives of economic growth. The so-called "efficiency," for instance, of the modern farm, which leaves no room for the meadowlarks to nest and fledge their young - is but one of many examples...Eggert's book will be of great use to all who read it. But it would be especially helpful - though subversive - to give it to anyone you know who is an economist. It will help them see, among other things, that grasping onto the conventional eco-nomic orthodoxy not only shows a certain blindness but can also, unfortunately, turn out to be tragic.From Kirkus ReviewsThis collection of thoughtful essays weaves together economic and ecological issues.While Eggert is an economist by trade, he is struck by the relationship between economics and ecology."I believe these two households are becoming more interdependent," he writes, "and their futures more and more intimately linked." Indeed, each of the 21 elegantly written essays in this revised collection, has a strong eco-conscious component.The unusual title is derived from the author's concern over the Midwest's loss of meadowlarks; somewhat esoterically, he translates this occurrence into "meadowlark values," suggesting that a "meadowlark economist" must "seriously try and incorporate an ecological consciousness and ecological values along with market thinking and market values."Eggert's essays are as soaring and aspirational as they are instructional and practical. For example, in "What's Wrong with Capitalism?" he notes there is "a destructive quality in capitalism that often violates the ecological laws that can and should ensure life's beauty, balance, health and long-term continuity." ...In perhaps his most novel essay," Wal-Mart Pond," Eggert cleverly combines ecology and economy by imagining a conversation with Henry Thoreau ...His final essay, "Quartet," is most worthy of contemplation: "what is our part in the 'music' of the cosmos, what is our role in the harmony of nature's variations on a theme?"... At times poetic and philosophical, even as the author remains firmly planted on terra firma.
Hydrogen Economy, The: Fundamentals, Technology, Economics
The 'Hydrogen Economy' is very broad subject ranging from the potential use of hydrogen for domestic use to the mass production of hydrogen replacing coal, natural gas (LNG) and conventional transport fuels.For any given project, there are many alternatives to consider for each stage of making, storing and transporting hydrogen. The book aims to assist proponents, and financiers of hydrogen projects to identify the optimum alternatives and identify hurdles and approaches to overcome them. This book attempts to describe an optimum approach to implement and its cost. It sets out to identify hurdles to implementation which may not be apparent to those entering the field for the first time.The book covers the various means and costs of production from fossil fuels (with carbon capture) - blue hydrogen - electrolysis - green hydrogen - or biomass. The book covers hydrogen storage as liquid or compressed gas and transport, through pipelines as liquid or by an intermediary fluid such as ammonia or a hydrocarbon. The book also discusses the production and costs of hydrogen delivery at the user end of a logistics chain. It also compares the relative energy value of energy delivered hydrogen versus the current suite of conventional fuels.
Contemporary Strategic Chinese American Business Negotiations and Market Entry
This book is an effort to provide a "primary source", a guide for Chinese/American cross-cultural negotiations, which has been constructed and amassed by professionals living and working in China. Research included personal interviews, surveys, case studies, face-to-face negotiations, and consulting, melded with a broad body of international business. This book that has two focuses, China market entry and negotiations, Both China and the United States are vast, complex markets, with different histories and cultures. China market entry requires extensive research and understanding, of the inextricably linked elements of (a) how business is managed in China, (b) understanding the China market, and (c) negotiating all elements of your China market entry and ongoing business. To be successful in China, your firm will face these elements in terms of explicable and solvable activities. Research into data, theory, and perceptual cultural differences between your firm and your Chinese counterparts adds magnitude to your China overall business strategy, and mandatory and essential negotiations.
