Microeconomics in Words
The claims of economists about the successes and failures of markets have enormous influence in public debates, yet the sources of those claims are often unclear. Microeconomics in Words demystifies microeconomic analyses by showing how they depend on simplifying assumptions and ethical judgments that could be made differently. As microeconomics is a model-based discipline, this book addresses what makes outcomes efficient in models of markets, and it questions when market efficiency is desirable. To make the material more accessible and to provide context for the ideas, the book adopts a word-based rather than mathematical approach and uses many examples from literary classics. Starting with the basic model of supply and demand, the book layers on complications of taxes, market failures and their solutions, limitations on correcting them, and transaction costs and institutions. It focuses on both the insights and the limitations of economic analyses - not only what has been formally proven but also what is discussed less formally in seminars and articles. The book then turns to the topics of free trade and controversial markets for cigarettes and transplant organs to show how the tools and concepts that have been developed are used, and not used, in practice.
Immiserizing Growth Fails the Poor
Immiserizing Growth Fails the Poor refers to situations where economic growth does not lead to poverty reduction. How should this phenomenon be conceptualized? How often, when, and where does it occur? Why does it occur? Shaffer addresses these three sets of questions drawing on a wide range of theoretical perspectives and empirical approaches. This volume presents a conceptualization of immiserizing growth which combines the notions of failed and malevolent inclusion, being bypassed, and 'avoidably' harmed by growth, respectively. It develops this concept of malevolent inclusion drawing on a debate in philosophy about 'doing and allowing harm'. The analysis proceeds to examine the characteristics and causes of immiserizing growth on the basis of comparable household survey data from the 1990s using multiple poverty lines and time periods, and different measures of growth and poverty. The book also explores theories, processes, and mechanisms of immiserizing growth found in a wide variety of bodies of thought including the classical tradition of political economy (Mathus, Ricardo, and Marx), more recent radical traditions of scholarship, literatures on poverty dynamics, and inclusive growth and empirical case studies. It proceeds to empirically investigate some of the variables uncovered in this literature using cross-country econometric techniques, methods of qualitative comparative analysis and case-studies from sub-Saharan Africa, matched using cluster analysis and situated within a typological framework.
Covid-19 and the Informal Economy
This is an open access title available under the terms of a CC BY-NC-SA 3.0 IGO licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. A key challenge for the post-COVID global economy is whether the disproportionate impact of the crisis on informal workers, who form the majority of the world's workforce, will be acknowledged. Or whether harmful and negative stereotypes will persist. Today, despite the role of these essential frontline workers - producing, processing, selling, cooking and delivering food, providing cleaning, childcare, eldercare, healthcare, transport, waste removal, and other essential services - many observers consider the informal economy to be non-compliant (resisting registration and taxation) and associate it with low productivity (a drag on the economy) or with crime (illegal activities) and grime (blight on modern cities). Yet, most informal workers are working poor trying to earn an honest living in often hostile environments. Most suffered severe declines in work and earnings during successive waves of the COVID pandemic, and related restrictions and recessions, and have gone deeper into debt and depleted their savings and assets in order to survive. This book explores and informs answers to that key challenge. It presents findings on the impact of the COVID crisis on informal workers in Asia, Africa, and North and Latin America. The chapters of the volume analyse the impact of the COVID crisis on informal workers, interrogate whether and which economic recovery plans and schemes include informal workers, and explore what a more inclusive economic recovery and reforms might look like.
Sustaining Tanzania's Economic Development
This is an open access title available under the terms of a CC BY-NC-SA 3.0 IGO licence. It is free to read at Oxford Academic and is offered as a free PDF download from OUP and selected open access locations. This book investigates the performance of firms and households in Tanzania and the strategies they adopt to navigate shocks, achieve sustainability, and build resilience in order to sustain their growth and development. The contributions take into account competitiveness and productivity for firms, and income or welfare for households. Has the ability to navigate successfully through shocks and a changing economic environment improved over the past two decades? What are the lessons for managing and recovering from shocks, such as the COVID-19 pandemic? Chapters cover a range of issues including competitiveness and value chains as determinants of (export) trade performance and the importance of technology, innovation, linkages, and value chains for the resilience and sustainability of firms. Trends in household income diversification and rural livelihoods, and improvements in financial inclusion, particularly through digital financial innovations such as mobile money services, promote the resilience and sustainability of households. Gender and regional, especially urban-rural, differences are incorporated. Cross-cutting themes emerge: the need for modern technology and infrastructure to increase the productivity and employment of firms; the role of investment in human capital in reducing gender inequalities and equipping workers and entrepreneurs with relevant skills; and the importance of access to resources for innovation. The performance of Tanzanian firms has gradually improved since 2000 - although many challenges remain - and this has benefitted households through employment opportunities; the COVID-19 pandemic was however a significant shock to the economy and progress stalled or reversed as a result. Tanzania, like many countries, faces a challenging future but is better positioned to do so than it has been.
Concise History of Indian Economy
This book presents a concise economic history of India from 1600 to the mobile economy of 21st century.
Inequality and Public Policy
This book's concern is with visible inequalities in housing, health, and education, and policy initiatives to address them.The authors offer readers a summary of evidence on inequalities - not only in income, gender, and wealth but also in education, health, and housing. They showcase temporal and cross-country trends as well as the policy initiatives to minimize visible inequalities. The book also discusses policy initiatives and provides clarity on what works, what does not, and what may be of use when formulating public policies. Seventeen countries were chosen for focus based on their share in global population; of these, seven are given special focus, which together account for a little over half the world's population.Offering current research as well as insights into prospects for visible inequalities, the book is an essential read for students and professionals interested in the study of visible inequalities and equal opportunity.
The Road to Freedom
We are a nation born from the conviction that people must be free. But since the middle of the last century, that idea has been co-opted. Forces on the political Right have justified exploitation by cloaking it in the rhetoric of freedom, leading to pharmaceutical companies freely overcharging for medication, a Big Tech free from oversight, politicians free to incite rebellion, corporations free to pollute, and more. How did we get here? Whose freedom are we--and should we--be thinking about?In The Road to Freedom, Nobel prize winner Joseph E. Stiglitz dissects America's current economic system and the political ideology that created it, laying bare their twinned failure. "Free" and unfettered markets have only succeeded in delivering a series of crises: the financial crisis, the opioid crisis, and the crisis of inequality. While a small portion of the population has amassed considerable wealth, wages for most people have stagnated. Free and unfettered markets have exploited consumers, workers, and the environment alike. Such failures have fed populist movements that believe being free means abandoning any obligations citizens have to one another. As they grow in strength, these movements now pose a real threat to true economic and political freedom.As an economic advisor to presidents and as chief economist at the World Bank, Stiglitz has witnessed these profound changes firsthand. As he argues, the failures follow from the elites' unshakeable dedication to "the neoliberal experiment." Explicitly taking on giants such as Friedrich Hayek and Milton Friedman, Stiglitz exposes accepted ideas about our political and economic life for what they are: twisted visions that tear at the social fabric while they enrich the very few. The Road to Freedom breaks new ground, showing how economics--including recent advances in which Stiglitz has played such an important role--reframes how to think about freedom and the role of the state in a twenty-first century society. Drawing on the work of contemporary philosophers, Stiglitz explains a deeper, more humane way to assess freedoms--one that considers with care what to do when one person's freedom conflicts with another's. We must reimagine our existing economic and legal systems and embrace forms of collective action, including regulation and investment, if we are to create an innovative society in which everyone can flourish. The task could not be more urgent, and Stiglitz's latest book is essential reading for those committed to the American ideal of an economic and political system that delivers well-being, opportunity, and meaningful freedoms for all.
Decoding Economic Crises
Constantly bandied about, 'crisis' has tended to be a much-overused word. Understanding the economy and its future challenges requires a detailed and precise analysis of what an economic crisis is. This book sets out to do just that. It first provides a deep historical context of what economic theory says about crises and their perpetual return in the form of a cycle. It then looks at what lessons might be learned from such cycles. Since 1945, the world economy has been dominated by the United States, so an analysis of recent crises must necessarily consider public policy response in this country. Decoding Economic Crises attempts to answer the question of whether American leadership has emerged unscathed from the damage inflicted by the 1975, 1992, 2009 and 2020 recessions and their legacies of debt.Looking forward to the future, there is a particular focus on environmental change. The book interrogates whether devastating crises might ensue, reminiscent of the 'nutritional trap' theorised by Nobel Prize winner Angus Deaton. Finally, Decoding Economic Crises asks if there will be a return to times of extreme scarcity as seen prior to the mid-18th century.
On the Trail of Artificial Intelligence
This is a novel about Artificial Intelligence. As unusual as it sounds, there is a very good reason for its existence. There are existing books on the subject that are very good but are very difficult to read. It's that simple. The concepts are complicated and some require complex math. This book intended for enjoyment with some valuable information in-between. No math or previous knowledge is required; just sit back and read. Artificial Intelligence is here to stay this time. It's a third try to bring then the subject to the forefront. It is here for the future, and it is here to stay because the world needs it. We are in the midst of war, preparation for defense, a dismal economic outlook, crime, killing, and so forth. We need it because if we continue the way we are going, we won't be going anywhere for very long. Practically everything is disarray. Just name them: violence, shady politics, global warming, discrimination, abortion, women's birth problems, men's cancer. What is the solution? It is twofold. Equitably use the information we have and permit the human race to communicate and act in a reasonable manner. Through Artificial Intelligence, often referred to as AI, we have the key to managing our lives on a daily basis - worldwide. Instead of business and government leaders having to tell us what they are going to do, we can and will be addressing that subject through AI. AI is a systems concept, not a single piece of software you can buy at a local store. Can you imagine a kid telling you they have computers and AI, meaning software apps. So, here is what we are providing to you with in this book. A straightforward description of the subject of AI embedded in an easy-to-read novel. Even if you don't like AI, you will love the novel. The major characters are Matt Miller, who has a PhD from a prestigious university, his wife Ashley, also a professor, who is a dramatic woman with an ingenious mind, and General Les Miller, Matt's grandfather, who is a former a war-hero pilot and the founder of a very profitable business. Matt uses his mathematical thinking to solve complex problem, with the assistance of Ashley, and the leadership of the General. This time, we have a new person on the team. It is a Marine Corp officer who will delight you. The book is not expensive and something you would enjoy giving to a relative or friend. The book adheres to the author's principle of no sex, no violence, and no bad language. It is accessible to all readers. Post script: The book contains an AI index and two AI reports at the tail end. Now you can really enjoy it. There are also addendums and appendices. There is something for everyone. One more thing as Steve Jobs used to say: Parts 1 and 2 are about the characters that is a novel in its own right. If you only want AI, start with Part 3, chapter 12. Just an important note. The story about Bud Lewis, the Marine guy, is worth the time. This is the real end of the back cover..
Monitoring the State or the Market
Many economists argue that economic analysis should avoid the distributional consequences of policies. In democratic countries, however, the political power of individuals inevitably reflects their wealth and income. You cannot have a democracy when income and wealth distributions are greatly uneven. Monitoring the State or the Market explains that absolute income equality is not consistent with a market economy, yet neither is large inequality. This study provides a broad survey of major social and economic developments over the past two centuries, beginning with the Industrial Revolution and laissez faire and ending with neoliberalism and market fundamentalism. It explains how each of these periods initially brought moderation and accompanying benefits, showing that some countries, such as those in Scandinavia, have demonstrated that it is possible to have low Gini coefficients (low inequality), while preserving economic freedom and prosperity.
Contractor's Guide to Site Solutions
Infrastructure is the backbone of the Indian economy. Prominent government and private projects must progress continuously and be completed on time; otherwise, crores and crores of rupees go down the drain. Geotechnical issues are the most significant deterrents to the timely completion of projects leading to considerable losses. Site-specific geotech solutions for soil (geo) issues for various sites for drains, slopes, bridges, roads, and buildings are essential because every construction site is unique with its own geological, hydrological and environmental conditions. This book shows you how to 5X your profits while delivering projects on time (Case studies & testimonials included) by choosing geotech solutions tailored to the construction site's specific conditions, leveraging the most advanced technology and multi-faceted engineering seamlessly integrated into one solution. A mechanical engineer, MBA and now pursuing a doctorate, the author believes in constant learning and loves innovative and environment-friendly technologies. He has worked with various government departments like the Indian Railways, Coal India, Roadways, Refineries, Irrigation, etc.The author strives to providing the best value for money and making customers happy as they grow.
Monitoring the State or the Market
Many economists argue that economic analysis should avoid the distributional consequences of policies. In democratic countries, however, the political power of individuals inevitably reflects their wealth and income. You cannot have a democracy when income and wealth distributions are greatly uneven. Monitoring the State or the Market explains that absolute income equality is not consistent with a market economy, yet neither is large inequality. This study provides a broad survey of major social and economic developments over the past two centuries, beginning with the Industrial Revolution and laissez faire and ending with neoliberalism and market fundamentalism. It explains how each of these periods initially brought moderation and accompanying benefits, showing that some countries, such as those in Scandinavia, have demonstrated that it is possible to have low Gini coefficients (low inequality), while preserving economic freedom and prosperity.
On the Trail of Artificial Intelligence
This is a novel about Artificial Intelligence. As unusual as it sounds, there is a very good reason for its existence. There are existing books on the subject that are very good but are very difficult to read. It's that simple. The concepts are complicated and some require complex math. This book intended for enjoyment with some valuable information in-between. No math or previous knowledge is required; just sit back and read. Artificial Intelligence is here to stay this time. It's a third try to bring then the subject to the forefront. It is here for the future, and it is here to stay because the world needs it. We are in the midst of war, preparation for defense, a dismal economic outlook, crime, killing, and so forth. We need it because if we continue the way we are going, we won't be going anywhere for very long. Practically everything is disarray. Just name them: violence, shady politics, global warming, discrimination, abortion, women's birth problems, men's cancer. What is the solution? It is twofold. Equitably use the information we have and permit the human race to communicate and act in a reasonable manner. Through Artificial Intelligence, often referred to as AI, we have the key to managing our lives on a daily basis - worldwide. Instead of business and government leaders having to tell us what they are going to do, we can and will be addressing that subject through AI. AI is a systems concept, not a single piece of software you can buy at a local store. Can you imagine a kid telling you they have computers and AI, meaning software apps. So, here is what we are providing to you with in this book. A straightforward description of the subject of AI embedded in an easy-to-read novel. Even if you don't like AI, you will love the novel. The major characters are Matt Miller, who has a PhD from a prestigious university, his wife Ashley, also a professor, who is a dramatic woman with an ingenious mind, and General Les Miller, Matt's grandfather, who is a former a war-hero pilot and the founder of a very profitable business. Matt uses his mathematical thinking to solve complex problem, with the assistance of Ashley, and the leadership of the General. This time, we have a new person on the team. It is a Marine Corp officer who will delight you. The book is not expensive and something you would enjoy giving to a relative or friend. The book adheres to the author's principle of no sex, no violence, and no bad language. It is accessible to all readers. Post script: The book contains an AI index and two AI reports at the tail end. Now you can really enjoy it. There are also addendums and appendices. There is something for everyone. One more thing as Steve Jobs used to say: Parts 1 and 2 are about the characters that is a novel in its own right. If you only want AI, start with Part 3, chapter 12. Just an important note. The story about Bud Lewis, the Marine guy, is worth the time. This is the real end of the back cover..
Doing Social Research and Publishing Results
This book provides a guide to such budding social researchers, who are non-native English speakers drawing examples from literature to show how to conduct a research, present research results, integrate with existing literature to draw conclusions through real-world examples. Existing English books teaching research methods and philosophy of academic research are written in 'academic English' and, it is hard for non-native English-speaking budding researchers to study and understand those books. Also, this book uses examples to show how to communicate with journal editors and peer reviewers to get published the research results as journal articles, book chapters or conference papers. This book connects different quantitative techniques, qualitative methodologies (case studies, phenomenology and ethnography and Grounded theory) as well as Mixed methods methodology through a single example. This book attempts to describe a holistic approach introducing a 10Ps model that incorporates the essential elements of the research process. The process focuses on combining philosophical framework and arguments from research results. This book focuses not only on conducting a research project, but also on the approach and procedures to be followed to achieve higher marks for course work assignments and publishing research articles in international journals. This book shows how to create many papers from one research/data set to increase number of publications and citations. This book has fewer words and more illustrations, tables, figures, pictures and YouTube tutorial links. This book outlines how to present test results in APA style for all the statistical test used in this book, using examples.
The Austrian School of Economics in the 21st Century
This book provides an overview of the evolution and theories of the Austrian School of Economics and develops answers to current economic questions and the pressing problems of the 21st century from the Austrian perspective. Readers will learn about the fundamental ideas of the Austrian School, the current state of Austrian economics, and the intellectual figures and institutions that sustain it as a vibrant intellectual movement. International experts on Austrian economics cover topics such as the economic impact of pandemics, trade blocs, federalism and European integration, and the economic development of China. The book also discusses the influence of the Austrian School on modern economic thought and mainstream economics, as well as on policymakers. It will appeal to students and scholars of economics and to anyone interested in social and economic liberalism.
Trading Economics
This book reconstructs the theoretical framework of economics by examining the concept of trading, the trading network, and the evolution of a trading system, tied together by the notion of "bounded rationality." Trading economics uproots the theoretical paradigm of mainstream economics and enables timeworn economic thinking to deal with the various complex phenomena of the modern economy. Mainstream economic theories see growth as the combined result of family and enterprise activities. Based on this understanding, established economic policies all focus on how to effectively influence the behavior of trading agents. Trading economics, by contrast, believes economic growth is the product of the activities of a self-organizing network of families and enterprises, rather than a simple superposition of the behaviors of trading agents. In policy design, trading economics looks to maintain the structural integrity of the trading network and the stability of the trading cycle.
Money and Inflation
The book goes beyond the usual understanding of money--physically, electronically or virtually expressed in term of monetary units like dollars, pounds, gold coins, or bitcoins--and discusses how money is best conceptualised as the ability of a person/party to obtain goods and services from another person/party. This ability may originate from the access of a person/party to money in usual sense (e.g. dollars, pounds) but also via force, social norms, mutual negotiation, altruism, trust or due to human biological characteristics. As the ability to obtain goods and services from others depends on the context -- what functions as money in a time and place may not function as money in another time and place -- as such money has no universal type or representation. The book explains inflation as the increased need to acquire money, that is the need to employ more physical and mental labour to create the ability to obtaina wide range of goods and services. This book provides an explanation of the post covid price hike and the cost of living crisis by taking this new theory into consideration, which will be of interest to academics, researchers, policy makers and students studying finance, monetary economics and inflation.
The Monero Standard
The fiat system we live under today is nothing like the monetary systems of the past... At least not the prosperous ones.It is a rather strange time in which a small minority of global elites are able to control or influence nearly every aspect of our lives through control of the monetary system.They are able to take from us and give to them what they please with control of the monetary system.The Monero Standard is about how we can use money to fundamentally revolutionize societies incentive structures, the challenges we face in society today & how we overcome them to build a long lasting platform for freedom and prosperity.We look at why Monero is the best tool the world has ever seen to provide that platform.We can vote all we want and protest all we want. IT WILL NOT CHANGE ANYTHING. We must change that by opting into the strongest form of money the world has ever seen...Here's how...
Game Theory
An introduction to game theory, complete with step-by-step tools and detailed examples. This book offers condensed breakdowns of game-theory concepts. Specifically, this textbook provides "tools" or "recipes" to solve different classes of games. Game Theory presents the information as plainly and clearly as possible. Every chapter begins with the main definitions and concepts before diving into the applications to different settings across economics, business, and other social sciences. Chapters walk readers through algebraic steps and simplifications. This makes the text accessible for undergraduate and Masters-level students in economics and finance. Paired with the exercises published on the accompanying website, students will improve both their theoretical and practical understandings of game theory. Readers will walk away from this book understanding complete and incomplete information modelsas well as signaling games.
The Economic Consequences of the Peace (Annotated)
John Maynard Keynes, a British economist, authored the guide "The Economic Consequence of the Peace." The guide was originally published in 1919 and is actually an evaluation of the Treaties of Versailles which completed World War I. Keynes was one of numerous British Treasury participants to the Versailles Peace Conference in addition to his insights are actually based on the personal experiences of his in the Conference.Keynes asserted the treaty's reparations and severe monetary steps on Germany had been far too punitive and would bring about severe economic problems in Europe. He thought that these actions would not simply affect Germany but additionally the economic stability in addition to healing of Europe postwar. Keynes was concerned the sizable reparations could cause an economic collapse of Germany, that may influence the economies of the winning places and furthermore, the majority of Europe.Keynes made several remarkable predictions that were really earlier. Keynes had warned the economic turbulence in addition to hyperinflation that characterized Germany in the 1920s, the rise of extremism and ultimate outbreak of World War II had been partly due to the financial situations necessary for the Treaty of Versailles.The guide is actually significant due to its economic analysis but additionally for affecting economic theory and international policy. Keynes established himself to become a high economist by using this particular function as being a base for his right after, much more well known publication, "The General Theory of Employment, Interest, as well as Money," which basically transformed macroeconomic Theory as well as practice & government economic policies.
Microeconomics
This book provides a comprehensive overview of the fundamental concepts and principles of microeconomics. It introduces students to the models, assumptions, and empirical applications of modern microeconomics, as well as to the necessary mathematical tools. It covers topics such as economic behavior, consumer theory, theory of the firm, partial and general equilibrium theory, industrial organization, bargaining theory, and Pareto optimality. Students learn not only about economic outcomes at a given point of equilibrium, but also about dynamic economics, which includes both equilibrium and disequilibrium.This book is intended for undergraduate and graduate students in economics and related fields who are interested in the basic theories and applications of microeconomics.
The Global Health Cost of Pm2.5 Air Pollution
This report estimates the global, regional, and national costs of health damage from exposure to PM2.5 ambient and household air pollution in 2019. While recognizing the various costs of air pollution to society, this report focuses on the cost of morbidity and premature death from air pollution, the world's leading environmental health risk.
Preventing Money Laundering and Terrorist Financing
Preventing Money Laundering and Terrorist Financing, Second Edition
Taxing Crime
The study supports policy makers in designing legal and operational frameworks and practices to enhance cooperation between tax authorities and Law Enforcement Agencies at the domestic and international levels, and to build on synergies between investigations and enforcement in the context of tax crimes, money laundering and corruption.
Bridging the Technological Divide
Technology is a key driver of economic development. However, the extent to which firms adopt and use technologies and to what purpose is poorly understood. From a technological standpoint, firms largely remain black boxes. This report proposes a new approach to measure and understand the adoption and use of technologies by firms.
Improving Effective Coverage in Health
This Policy Research Report examines one specific policy approach to improving effective coverage: financial incentives in the form of performance-based financing (PBF) or financial incentives to health workers on the front lines.
Deep Trade Agreements
The Latin America and Caribbean (LAC) region has untapped potential for trade and global value chains (GVCs) to grow in the wake of COVID-19. This report, based on new data and evidence, shows that 'deep' trade agreements can drive policy reforms and help the region overcome some of its disadvantageous fundamentals.
Blue Skies, Blue Seas
This book documents the state of ?blue? natural capital in the Middle East and North Africa region, focussing on air pollution, marine plastics, and coastal erosion.
Revisiting Targeting in Social Assistance
Targeting is a commonly used but much debated policy within global social assistance practice. This book examines the well-known dilemmas in light of the growing body of experience, new implementation capacities, and the potential to bring new data and data science to bear.
Global Economic Prospects, June 2022
The world economy continues to suffer from a series of destabilizing shocks. After more than two years of pandemic, Russia's invasion of Ukraine and its global effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. In particular, the war is leading to soaring prices and volatility in energy markets, with improvements in activity in energy exporters more than offset by headwinds to activity in most other economies. The war has also led to a significant increase in agricultural commodity prices, which is exacerbating food insecurity and extreme poverty in many emerging market and developing economies. Numerous risks could further derail what is now a precarious recovery. Among them is, in particular, the possibility of stubbornly high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. This could eventually result in a sharp tightening of monetary policy in advanced economies to rein in inflation, lead to surging borrowing costs, and possibly culminate in financial stress in some emerging market and developing economies. A forceful and wide-ranging policy response is required by policy makers and the global community to boost growth, bolster macroeconomic frameworks, reduce financial vulnerabilities, provide support to the vulnerable population groups, and attenuate the long-term impacts of the global shocks of recent years.
Distributional Impacts of Covid-19 in the Middle East and North Africa Region
Pre-pandemic the Middle East and North Africa was the only region in the world experiencing increases in poverty and declines in life satisfaction. This Report investigates how the COVID-19 pandemic changed the welfare of individuals and households in the region, by relying on phone surveys and micro-simulation exercises.
Building Resilient Migration Systems in the Mediterranean Region
This report discusses the impacts of the COVID-19 crisis on migrants in the Mediterranean region, and on their sending and receiving countries. The report shows that policy interventions can help mobility continue safely in the aftermath of the COVID-19 outbreak and better prepare countries to respond to future shocks.
Trade Therapy
This report provides new data on trade in medical goods and services and medical value chains; surveys the evolving policy landscape before and during the pandemic; and proposes an action plan to improve trade policies and deepen international cooperation to deal with future pandemics.
Democracy in Default
How did neoliberalism arise? Faced with the crises of the 1970s, a coalition of neoliberal intellectuals, conservative politicians, and business interests carried out a vast project of walling off the economy from democracy, ensuring the dominance of finance--or so the conventional story goes. Democracy in Default offers a new perspective on the birth of neoliberalism, showing that this common narrative confuses cause and effect. Financialization was not the offspring of deregulation but the mechanism that allowed neoliberalism to take root. Brian Judge argues that financialization was a nearly spontaneous response to a crisis within liberalism. He examines how liberalism disavows the problem of distributive conflict, leaving it vulnerable when those conflicts erupt. When the postwar growth engine began to slow, finance promised a way out of the resulting political impasse, allowing liberal democracies to depoliticize questions of distribution and sustain the existing social and economic order. Elected officials were not simply captured or co-opted but willingly embraced financial solutions to their political problems. Unleashing the financial imperative to generate monetary returns, however, ushered in an all-encompassing transformation. Vivid case studies--the bankruptcy of Stockton, California; the investment strategy of the California Public Employees' Retirement System; and the 2008 financial crisis--illustrate how the priorities of financial markets radically altered liberal democratic governance. Recasting the political and economic transformations of the past half century, Democracy in Default offers a bracing new account of the relationship between neoliberalism and financialization.
Economy and Theology
Economy and Theology: Cusanus's Theory of Value, a study from the field of the history of philosophy, responds to the present-day interest in what is referred to as economic theology. This study aims to show that value (valor), one of the fundamental concepts of contemporary philosophy and economics, has its genealogy in the thought of Nicholas of Cusa. Starting from the economic context (the concept of price/pretium), Cusanus proposes the theory of value that, on the one hand, is objectively rooted in the Divine act of creation (God as the Minter) and, on the other hand, requires reading by human beings (human mind as a banker). While this theory appears in Cusanus's late work The Bowling-Game, it is underpinned by his theory of knowledge, theory of human beings and human cognition against the background of his vision of the universe. Thus, the aim of the book is to try to answer the question about the role and tasks of human beings as a principal player in economic and social game. This description of human position emerges from the creative tension between human philosophical and theological reflection and certain economic solutions.
Democracy in Default
How did neoliberalism arise? Faced with the crises of the 1970s, a coalition of neoliberal intellectuals, conservative politicians, and business interests carried out a vast project of walling off the economy from democracy, ensuring the dominance of finance--or so the conventional story goes. Democracy in Default offers a new perspective on the birth of neoliberalism, showing that this common narrative confuses cause and effect. Financialization was not the offspring of deregulation but the mechanism that allowed neoliberalism to take root. Brian Judge argues that financialization was a nearly spontaneous response to a crisis within liberalism. He examines how liberalism disavows the problem of distributive conflict, leaving it vulnerable when those conflicts erupt. When the postwar growth engine began to slow, finance promised a way out of the resulting political impasse, allowing liberal democracies to depoliticize questions of distribution and sustain the existing social and economic order. Elected officials were not simply captured or co-opted but willingly embraced financial solutions to their political problems. Unleashing the financial imperative to generate monetary returns, however, ushered in an all-encompassing transformation. Vivid case studies--the bankruptcy of Stockton, California; the investment strategy of the California Public Employees' Retirement System; and the 2008 financial crisis--illustrate how the priorities of financial markets radically altered liberal democratic governance. Recasting the political and economic transformations of the past half century, Democracy in Default offers a bracing new account of the relationship between neoliberalism and financialization.
Renewable Energy Auctions: Lessons from the Global South
Renewable Energy Auctions provides an overview of renewable energy auctions globally, focusing on the Global South, since this is where auctions have been pioneered and provided most transformative results. Renewable energy auctions have become the dominant method for contracting utility-scale renewable energy projects, in large part due to the cost-efficient tariffs secured through this method. The ascent of auctions has been particularly rapid and transformative in the Global South, where many countries have secured renewable energy supplies at record-breaking prices. This book analyses the experiences of frontier auction markets in Latin America, sub-Saharan Africa, and India, with the aim of improving how auctions are designed and implemented globally. The book goes beyond the topic of auction design - which is concerned with the micro-economics of design choices - to include auction implementation. Across ten chapters, the authors argue that choices around the auction implementing institution and the procurement process are overlooked in most publications on the subject, yet this is often a key factor for determining outcomes. Moving beyond the program level of analysis (auction design and implementation), the book includes both country and project level factors' impacts on auction outcomes, ultimately highlighting that successful price and investment outcomes are dependent upon integration of all three levels of auction design and implementation.
Africa's Path to Net-Zero
This book provides a comprehensive analysis of the challenges and opportunities for achieving a net-zero energy transition in Africa. With a focus on policy, technology, financing, and socio-political factors, the book presents four potential scenarios for a sustainable energy transition in the continent. The scenarios presented highlight the importance of balancing economic growth with environmental sustainability and social development. While foreign investments in renewable energy could be beneficial, they must be carefully monitored and regulated to prevent exploitation and ensure accountability. The book also emphasizes the need for collaboration and a calculated transition to ensure that all stakeholders are involved in the process. Additionally, the challenges of achieving self-sufficiency and export-free energy are discussed, with the importance of setting limitations and regulations to prevent a vicious cycle of poverty and dependency on foreign aid. With a deep understanding of Africa's environmental, socio-political, and socio-cultural complexities, "Africa's Path to Net-Zero" offers valuable insights for policymakers, investors, and anyone interested in promoting a sustainable energy future for the continent.
Mozambique at a Fork in the Road
Few countries have experienced as many political and economic changes as Mozambique. A vast and diverse country, it faced a particularly difficult start after a long period of colonial dominance followed by a deadly war that formally ended only in 1992. However, despite impressive growth after multi-party elections, Mozambique's pattern of growth is fragmented, not sustainable and non-inclusive. Investigating the deep factors that undermine economic development, Mozambique at a Fork in the Road offers an insightful analysis of the historical and political context of Mozambique and its institutional constraints to economic development. It examines sectors that are critical for sustainable growth, such as agriculture, that receive low priority, and the frequent shocks in strategic policy that result in the absence of a clear national development vision. Building on a core set of thematic chapters, this compelling diagnostic tool provides a thorough and structured approach to understanding institutional dimensions of development. This title is also available as Open Access on Cambridge Core.
The Tortuous Path of South Korean Economic Development
This book explains how South Korea has uniquely transformed itself from a developing to a developed country by combining economic analysis with historical perspective, an approach badly needed but rarely taken by previous studies. The book shows that the country has done so through a tortuous process. It first explains how Korea failed earlier in history to emerge as a developing rather than a developed country after the Second World War but South Korea began to grow rapidly in the 1960s. It then explains that the country has sustained growth while undergoing recurring crises, examining three conditions for sustaining growth: macroeconomic management, structural transformation, and social conflict management. While doing so, the book interprets some important subjects differently from the previous studies; it also explains some other important subjects they have not covered sufficiently. The book finally discusses questions for the future briefly.
International Economics and Business
Fully updated with the latest theoretical insights, data, and statistics, this third edition combines the dual perspectives of international economics and international business to provide a complete overview of the changing role of nations and firms in the global economy. International Economics and Business covers the key concepts of an introductory course on the global economy. It avoids complicated mathematical theory to ensure accessibility for all disciplines and includes contemporary case studies from the international business world. The result is a practical guide to the world economy for undergraduate students in economics and business, also suitable for students in other social science disciplines. Supported via full suite of online resources including quizzes, data exercises, additional reading lists, lecture slides, as well as color versions of over 150 figures, International Economics and Business is a lively and engaging textbook providing a complete and practical understanding of international economics and globalization through a uniquely integrated lens.
International Economics and Business
Fully updated with the latest theoretical insights, data, and statistics, this third edition combines the dual perspectives of international economics and international business to provide a complete overview of the changing role of nations and firms in the global economy. International Economics and Business covers the key concepts of an introductory course on the global economy. It avoids complicated mathematical theory to ensure accessibility for all disciplines and includes contemporary case studies from the international business world. The result is a practical guide to the world economy for undergraduate students in economics and business, also suitable for students in other social science disciplines. Supported via full suite of online resources including quizzes, data exercises, additional reading lists, lecture slides, as well as color versions of over 150 figures, International Economics and Business is a lively and engaging textbook providing a complete and practical understanding of international economics and globalization through a uniquely integrated lens.
The Tortuous Path of South Korean Economic Development
This book explains how South Korea has uniquely transformed itself from a developing to a developed country by combining economic analysis with historical perspective, an approach badly needed but rarely taken by previous studies. The book shows that the country has done so through a tortuous process. It first explains how Korea failed earlier in history to emerge as a developing rather than a developed country after the Second World War but South Korea began to grow rapidly in the 1960s. It then explains that the country has sustained growth while undergoing recurring crises, examining three conditions for sustaining growth: macroeconomic management, structural transformation, and social conflict management. While doing so, the book interprets some important subjects differently from the previous studies; it also explains some other important subjects they have not covered sufficiently. The book finally discusses questions for the future briefly.
Lecture Notes in Experimental Economics
Experimental economics involves the use of controlled, experimental methods both in the laboratory and the field to better comprehend how individuals and groups make economic decisions and to more clearly identify causal relationships. This book takes the reader to the frontier of research in this exciting and rapidly growing field. Unlike other texts, this book discusses both the methodology of experimental economics and some of the main application areas.The material is organized as a series of 12 chapters or lectures that can be covered in a single academic term. The first five chapters cover the reasons for experimentation as well as basic experimental methodology. The last seven chapters discuss applications of experimental economics to areas such as game theory, public economics, social preferences, auctions and markets. The book assumes only a basic knowledge of economics and game theory and is written at a level that is suitable for advanced undergraduate, master's or PhD students.
Dynamic General Equilibrium Modeling
Contemporary macroeconomics is built upon microeconomic principles, with its most recent advance featuring dynamic stochastic general equilibrium models. The textbook by Heer and Mau?ner acquaints readers with the essential computational techniques required to tackle these models and employ them for quantitative analysis. This third edition maintains the structure of the second, dividing the content into three separate parts dedicated to representative agent models, heterogeneous agent models, and numerical methods. At the same time, every chapter has been revised and two entirely new chapters have been added. The updated content reflects the latest advances in both numerical methods and their applications in macroeconomics, spanning areas like business-cycle analysis, economic growth theory, distributional economics, monetary and fiscal policy. The two new chapters delve into advanced techniques, including higher-order perturbation, weighted residual methods, and solutions to high-dimensional nonlinear problems. In addition, the authors present further insights from macroeconomic theory, complemented by practical applications like the Smolyak algorithm, Gorman aggregation, rare disaster models and dynamic Laffer curves. Lastly, the new edition places special emphasis on practical implementation across various programming languages; accordingly, its accompanying web page offers examples of computer code for languages such as MATLAB(R), GAUSS, Fortran, Julia and Python.
Industry 4.0 to Industry 5.0
This is an Open Access book.In 2015, Industry 4.0 was announced with the rise of industrialization by the European Parliament, supporting policy, research, and infrastructure funding. In 2020, Industry 5.0 was launched as an evolution of Industry 4.0, towards societal and ecological values in a sustainable, human-centric, and resilient transition. In 2023, the IN4ACT research project team completed 4 years of research on the impact on these initiatives.Presentations reviewing the progress of management practices and economics led to conversations about what's next. The unanticipated rise in late 2022 of Generative AI technologies (e.g. ChatGPT, DALL-E) sparked dialogues with an extended circle of researchers on impacts not considered in 2015 or in 2020. This collection of chapters reflects multiple perspectives on research findings to 2023, prospects for 2024, and considerations on ways the techno-economic industrial revolutions may be reshaped into desirable futures respecting social and ecological concerns.
Organizational Learning as Relational Governance
This book critically examines existing organizational learning theories that often center on employees and adopt a neo-classical organizational view. In this book, organizational learning (OL) is conceptualized from a relational governance perspective. Departing from the relational economics approach, it describes organizations as dynamic nexuses of stakeholders' resources and interests, extending beyond conventional intra-organizational contexts to encompass an open systems view. By viewing organizations as independent entities, distinct from individual stakeholders, the author introduces the concept of transactions as the fundamental unit of analysis in organization theory. Stakeholders contribute diverse rationalities, and OL emerges as the process of relationalizing these rationalities, enabling multi-contextual transactions within organizations. This book sheds light on epistemological and ontological challenges in OL literature, such as the OL paradox and anthropomorphism. To address these issues, the author advocates a shift from methodological individualism to methodological relationism, wherein OL becomes a micro-meso-relational process involving both stakeholders and the organization as an entity. Combining conceptual insights with empirical evidence from a multinational company's case study, the book showcases how relational learning can be practically applied in organizations. The findings corroborate the conceptual framework, supporting the notion of organizations as resource-rich nexuses and learning as a comprehensive relational process involving both entities and stakeholders. This book offers an essential contribution to the field. It appeals to scholars and practitioners interested in organizational studies, corporate governance, and relational economics.
