Marxian Economics
More and more people have turned to Marxian economics in recent years. But isn't it a defunct branch of the 'dismal science', disproven by the experience of the past 150 years, of no interest to anyone except historians? In this book, David Ruccio demonstrates why the answer to that question is a resounding 'no'. He offers a clear and accessible introduction to the basic concepts and theoretical strategies of Marxian economics, its key differences from mainstream economics, and its many applications to the real world. Focusing on Marx's critique of both mainstream economic theory and capitalism, Ruccio extends that analysis to contemporary topics--from inequality and economic crises to racial capitalism and the climate crisis--and outlines the key debates among Marxian economists. He concludes with a discussion of the ways Marxian economists today think about the possibility of moving beyond capitalism. The book is suitable for students and professors, as well as readers outside the academy interested in learning about Marxian economics. It will be useful both as a stand-alone text and as a companion to reading Capital.
The State and the Legacies of British Colonial Development in Malawi
What were the origins of British ideas on rural poverty, and how did they shape development practice in Malawi? How did the international development narrative influence the poverty discourse in postcolonial Malawi from the 1960s onwards? In The State and the Legacies of British Colonial Development in Malawi: Confronting Poverty, 1939-1983, Gift Wasambo Kayira addresses these questions. Although by no means rehabilitating colonialism, the book argues that the intentions of officials and agencies charged with delivering economic development programs were never as ill-informed or wicked as some theorists have contended. Raising rural populations from poverty was on the agenda before and after independence. How to reconcile the pressing demand of stabilizing the country's economy and alleviating rural poverty within the context of limited resources proved an impossible task to achieve. Also difficult was how to reconcile the interests of outside experts influenced by international geopolitics and theories of economic development and those of local personnel and politicians. As a result, development efforts always fell short of their goals. Through a meticulous search of the archive on rural and industrial development projects, Kayira presents a development history that displays the shortfalls of existing works on development inadequately grounded in historical study.
Dismantling the American Dream
This book is not an academic treatise. It is a concise story that tells what America's multinationals did to the U.S. economy and how they did it. It is an applied and actionable book which includes many suggested solutions that function as steps the reader can take in their company.This book is based on a promise made by multinationals in 2018 when 181 CEOs signed a commitment letter to lead their companies not just for the benefit of their investors, but for the benefit of all stakeholders: customers, employees, suppliers, communities, and shareholders.During the last 40 years, the American dream has been dismantled by the policies and decisions of the multinational corporations (MNCs). Instead of benefitting all stake holders, they chose to favor their shareholders over all stake holders and short-term profits over society and country. To begin this process of change to achieve these new commitments, they must first understand what corporations did wrong since 1980 that didn't benefit the other stakeholders.This book will provide managers a detailed summary of the problems and obstacles they will need to address and overcome if they are going to make good on their commitment to meet the needs of all stakeholders, including employees, suppliers, communities, and an economy that serves all Americans. It also offers many solutions that will help them improve their job performance.It is in the interest of America's multinationals to find ways to protect their technologies, reduce outsourcing, and shift their focus to playing in a long-term economic game if they want to be competitive in the future.
Rural Infrastructure Scheme (RIS) through Village Panchyats.
Rural development is the process of improving the quality of life and economic well- being of people living in rural areas, This book describes how Village Panchyat schemes are helpful to develop the rural area economic development.
China's Rise and the Development of Asian Regional Integration
Introduction.- External Market and Regional Industrialization.- Structural Characteristics of Major Regional Markets.- Evolution of the Asian Market Structure, - Cooperation and Development in Asia.- Changes in China's Economic Relations in Asia.- Impact of China's Rise on the Regional Market.- China's Participation in Asian Cooperation.- Strategic Direction and Pathways for China's Consolidation of the Asian Market.
The Political Economy of Population Aging
PrefaceChapter 1. Introduction－Population Aging and Political Economy Chapter 2. Expenditure on Public Investment Chapter 3. Expenditure on Education Chapter 4. Expenditure on Hospital and Health Chapter 5. Interregional Tax Competition Chapter 6: Comparison of Japan and the US Chapter 7: Concluding Remarks
The Spanish Flu in Ireland
This book examines the Irish experience of the 1918-19 influenza pandemic through a detailed study of the disease in the most industrialised region of the country, the province of Ulster. By exploring the different themes of dispersion of the disease; mortality; gender; medical response and politics - and through case studies of different towns in the province of Ulster - it builds up a picture of the social, economic and political impact of influenza in Ireland. The Ulster experience of the pandemic is examined by constructing micro-histories of industrial cities and towns, along with provincial market towns and a naval port, to provide a basis for comparison of the differing approaches taken to combat the influenza outbreaks throughout Ulster. Contemporary opinion was that Ireland was considerably less affected by the war than the rest of the UK but, this book shows that the war did have a significant influenceon how the influenza pandemic impacted on the Irish population from an economic, social and medical point of view. The book also explores the immediate aftermath of the pandemic and how it influenced the Irish response to the influenza scare of 1920 and the viral pandemic of Encephalitis Lethargica which was prevalent for ten years after 1918, as well as discussing what if any lessons learnt from 1918 have been applied to the present-day outbreak of Covid 19. This book will be of interest to academics in economic history, social history, Irish history and pandemic history, and those studying the effects of pandemics on the economy, health provision and pandemic preparedness.
Energy Efficiency Financing and Market-Based Instruments
This book is devoted to investigating the policy design and effectiveness of financial and market-based instruments to promote energy efficiency financing. The concept of this monograph is to present the latest results related to energy efficiency funding schemes, energy efficiency obligations, voluntary agreements, auction mechanisms, and Super Energy Services Companies (Super ESCOs) in major jurisdictions across the world. The book focuses on financial and market-based instruments as they deliver a price signal, which provides an incentive for firms to invest in innovation or implement more energy-efficient technologies and deliver energy savings while minimizing costs. Such instruments can have significant advantages for the government, supporting the fiscal sustainability of the government's energy efficiency efforts, requiring less enforcement than regulation and according the market flexibility to select the most cost-efficient technologies. This book is highly recommended to researchers, policy experts, and business specialists who seek an in-depth and up-to-date integrated overview of energy efficiency financing.
Leaders Become Leadership Los L穩deres Se Convierten En Liderazgo
Leader and Leadership are management functions that are vital in directing an organization to improve efficiency, achieve goals, and center policies and procedures on the company vision. This how to do book will help the less experienced reader on various aspects involved with leaders and leadership. The sustained analysis and the variety of topics discussed regarding leaders and leadership qualities in the business sector and in the military and ethical behaviors, and their part in decision-making makes the works of the book compelling. This book shows the author deep knowledge and understanding of leaders becoming leadership. L穩der y Liderazgo son funciones de gesti籀n que son vitals para dirigir una organizaci籀n a mejorar la eficiencia, alcanzar objetivos y centrar las pol穩ticas y procedimientos en la vision de la empresa. Este libro de c籀mo hacer ayudar獺 al lector menos experimentado en varios aspectos relacionados con los l穩deres y el liderazgo. El an獺lisis sostenido y la variedad de temas discutidos con respecto a los l穩deres y las cualidades de liderazgo en el sector empresarial y en los comportamientos militares y 矇ticos, y su parte en la toma de decisiones hace que las obras del libro sean convincentes. Este libro muestra al autor un profundo conocimiento y comprensi籀n de los l穩deres que se convierten en l穩deres.
Economic Policy in the 21st Century
Economic policy is facing crises on multiple fronts. With the effects of the last financial crisis still with us, it is now faced with the new challenges of post-Covid economic recovery and dealing with the negative effects of over consumption on the climate. This book explores the future of economic policy in relation to what the author sees as the four great policy challenges of the first half of the 21st century: the after effects of the last financial crisis and the catastrophic impact of the Covid pandemic, secular stagnation, growing poverty and inequality, and globalization. The existence of these economic problems has become increasingly relevant since some of the tools available to public action have become useless. As economists begin to suggest new instruments of economic policy, this book will help the reader understand the nature of the economic and political facts that influence both current and future generations.
Fiscal Capacity and the Colonial State in Asia and Africa, C.1850-1960
This book examines the evolution of fiscal capacity in the context of colonial state formation and the changing world order between 1850 and 1960. Until the early nineteenth century, European colonial control over Asia and Africa was largely confined to coastal and island settlements, which functioned as little more than trading posts. The officials running these settlements had neither the resources nor the need to develop new fiscal instruments. With the expansion of imperialism, the costs of maintaining colonies rose. Home governments, reluctant to place the financial burden of imperial expansion on metropolitan taxpayers, pressed colonial governments to become fiscally self-supporting. A team of leading historians provides a comparative overview of how colonial states set up their administrative systems and how these regimes involved local people and elites. They shed new light on the political economy of colonial state formation and the institutional legacies they left behind at independence.
Apprenticeship in Early Modern Europe
This is the first comparative and comprehensive account of occupational training before the Industrial Revolution. Apprenticeship was a critical part of human capital formation, and, because of this, it has a central role to play in understanding economic growth in the past. At the same time, it was a key stage in the lives of many people, whose access to skills and experience of learning were shaped by the guilds that trained them. The local and national studies contained in this volume bring together the latest research into how skills training worked across Europe in an era before the emergence of national school systems. These essays, written to a common agenda and drawing on major new datasets, systematically outline the features of what amounted to a European-wide system of skills education, and provide essential insights into a key institution of economic and social history.
The Merger Mystery
Statistical studies over the last forty-five years show that, although there are success stories, very many mergers and acquisitions do not result in the increased operating profits that economics textbooks would lead one to expect. As consultancy McKinsey have put it, 'Anyone who has researched merger success rates knows that roughly 70% fail'. Yet-mysteriously-Merger and Acquisition activity has boomed across the globe, with a forty-fold increase in deals done each year now compared with four decades ago, in spite of the adverse general evidence. How can it be that talented, energetic, highly skilled, law-abiding, income-maximising participants in the M&A market will often promote mergers that lead to no operating gains, frequently with adverse effects on the wider economy too?Drawing on findings from a wealth of statistical analyses and case evidence from many businesses, the book presents answers to this merger mystery. In a synthesis of ideas from several disciplines, solutions are detected in misaligned incentives, distorted financial engineering and information asymmetry. By revealing how weaknesses at multiple points can interact and cumulate to produce inefficient outcomes, the discussion serves as a corrective to the overwhelmingly positive tone of most commentary on M&A, whilst also advocating changes in participants' contracts, in taxation, and in regulation which could significantly reduce the number of mergers that fail.Designed to be accessible to a wide readership, the book will be of interest to investors, to M&A practitioners and commentators, to researchers and students of economics, political economy, finance, management and accounting, and-importantly-to policy makers working in these areas.
The Great Stagflation
The Covid-19 pandemic presented the biggest world crisis for generations, upending our daily lives and routines. Even as we have started looking forward to a better future once more, the worst may yet be to come. While few politicians and economists like to admit it, all signs point towards an unprecedented financial crisis, the most dangerous economic phenomenon of them all: stagflation. Caused by the worst possible macro-economic combo - rising unemployment and high inflation - it's a scenario that, until recently, experts insisted cannot happen. You need to prepare. Read The Great Stagflation to: Understand the who, what, why and when of stagflation Learn why the response offered by successive governments and economists is flawed and will not work Face up to the scale of the problem and its impact on every aspect of our lives Formulate a strategy not just to survive in this new, hostile financial environment, but to thrive Avoid costly mistakes and investments that will expose you to more risk
The Merger Mystery
Statistical studies over the last forty-five years show that, although there are success stories, very many mergers and acquisitions do not result in the increased operating profits that economics textbooks would lead one to expect. As consultancy McKinsey have put it, 'Anyone who has researched merger success rates knows that roughly 70% fail'. Yet-mysteriously-Merger and Acquisition activity has boomed across the globe, with a forty-fold increase in deals done each year now compared with four decades ago, in spite of the adverse general evidence. How can it be that talented, energetic, highly skilled, law-abiding, income-maximising participants in the M&A market will often promote mergers that lead to no operating gains, frequently with adverse effects on the wider economy too?Drawing on findings from a wealth of statistical analyses and case evidence from many businesses, the book presents answers to this merger mystery. In a synthesis of ideas from several disciplines, solutions are detected in misaligned incentives, distorted financial engineering and information asymmetry. By revealing how weaknesses at multiple points can interact and cumulate to produce inefficient outcomes, the discussion serves as a corrective to the overwhelmingly positive tone of most commentary on M&A, whilst also advocating changes in participants' contracts, in taxation, and in regulation which could significantly reduce the number of mergers that fail.Designed to be accessible to a wide readership, the book will be of interest to investors, to M&A practitioners and commentators, to researchers and students of economics, political economy, finance, management and accounting, and-importantly-to policy makers working in these areas.
Is Behavioral Economics Doomed? The Ordinary versus the Extraordinary
An Introduction to Economic Dynamics
An Introduction to Economic Dynamics provides a framework for students to appreciate and understand the basic intuition behind economic models and to experiment with those models using simulation techniques in MATLAB.
Is Behavioral Economics Doomed? the Ordinary Versus the Extraordinary
History of Economic Ideas
This book examines the history of economic thought and of political economy over the past 250 years. It presents an accessible introduction to the lives and ideas of some of economics' most prominent theoreticians, including at least one representative of each major school of economic thought. Additionally, learning objectives, summaries, key takeaways, and revision questions are included to facilitate learning and self-assessment. The concise nature of this book makes it an easy-to-use guide to the early pioneers of political economy (Smith, Ricardo, Marx, Walras), the 20th century innovators of economics (Keynes, Schumpeter, Hayek, Friedman, Solow), or the more recent research in the discipline (Nash, Sen, Stiglitz, Krugman). Those interested in the history of economic thought will find this book to be an invaluable resource.
The Roman Stock Exchange Between the 19th and 20th Centuries
This book explores the Italian stock exchange through its construction and consolidation while examining and criticizing the birth of the capital city. Through the evolution of the stock exchange, the transformation of Rome is examined from the capital of a pre-unification state to the papal state, exploring its social, political, administrative and financial fabric. The book examines that path to becoming the capital of Italy, offering a unique volume for researchers, academics, and students of financial history and financial markets.
The Endogenous Energy-Saving Technology Progress in China's Industrial Sector
Chapter 1. Introduction.- Chapter 2. Literature review.- Chapter 3. Analytical framework for endogenous energy-saving technological progress in industrial sectors based on heterogeneous R&D inputs.- Chapter 4. Mathematical Model Analysis of Endogenous Energy-Saving Technology Advancement in Industrial Sector Based on Heterogeneous R&D Inputs.- Chapter 5. Estimation of energy-saving technological advancement rate in China's industrial sub-sector: 1980-2010.- Chapter 6. Empirical Analysis of Endogenous Energy-Saving Technology advancemnet in China's Industrial Sector Based on Heterogeneous R&D Input.- Chapter 7. Main conclusions and research prospects.
Manufacturing in Colonial Zimbabwe, 1890-1979
A key book on Zimbabwe's industrial policy and the relationship between manufacturing, the state, and economic interest groups. Under pressure from local manufacturers, and recognising that industrial policy was a legitimate instrument for development, on 1 July 2016, to boost domestic production, the Government of Zimbabwe passed Statutory Instrument 64 which limited imports and foreign manufactures, allowing local producers satisfy demand. Zimbabwe's neighbours immediately protested that this flouted the Southern Africa Development Community (SADC)'s Protocol on Trade, which aimed to increase trade across borders at regional and national levels. This matter revived the conversation about protectionism as an instrument of industrial policy. Protectionism in Africa is neither limited to Zimbabwe, nor is it a new phenomenon.This book brings a historical perspective to the conversation by exploring the policy proposals and political pressure exerted by manufacturing businesses on the trajectory of industrialisation in colonial Zimbabwe, and reveals that the major point of contention between the state, industry, and other economic interest groups in this period was protection. Tracing changing attitudes to the country's political economy, the author examines the way in which industrialists advanced their interests through the Association of Rhodesian Industries (ARnI) and other trade bodies, and shows how this pitted them not only against the state but other blocs of capital - farmers, miners and commerce. He examines the impact of the post-war Customs Union Agreement with South Africa, manufacturing strategy under UDI, and examines the impact of Southern Rhodesia's development on its trading partners in South Africa, Zambia and Malawi. Casting new light on the continuing debate on regional trade, this important book adds to our understanding of the settler colony's economic, business, and political history.
The Spanish Fiscal Transition
This book provides an analysis of the process and outcomes of the tax reform, with a focus on progressivity, redistribution, and inequality. Between 1977 and 1986, Spain underwent a comprehensive tax reform which shaped its fiscal system until today. It was made in connection with the transition to democracy and indeed was understood as a fundamental part of the political change. The book situates the reform both within Spanish history and international trends in tax systems and connects it to the expansion of the welfare state and regional decentralization in Spain. The analysis reveals that the tax system failed to attain progressivity, and significant levels of fraud had a noticeable impact on inequality. Because of this, fiscal redistribution remained limited. In the new political economy of the second globalization, late democratic and fiscal transitioners were unable to emulate the path of the welfare state forerunners.
Technology, Society, and Conflict
Technology, Society, and Conflict comprehensively studies and systematically highlights technological inequalities as a source of conflict in digital development while developing an economic and legal approach to resolving them. With a progressive approach, chapters reveal the social nature of technological inequality and digital development conflicts and model them as social institutions. The conflicts of digital development are identified and analysed in detail: global conflict of the technological inequality in the modern world economy; gender conflict; conflict in the labour market in the context of automation based on Robots, Big Data, and AI; and conflict in international trade. The manifestations of the digital divide are considered based on international practical experience at all levels of management - country, regional, business and household levels. This 30th volume of Contributions to Conflict Management, Peace Economics, and Development gives special attention to the latest experience in technological inequality and the aggravation of digital development conflicts in the context of the COVID-19 pandemic and crisis in 2019-2020 with foresight for the post-pandemic period.
The New Digital Era
The COVID-19 pandemic has led to further acceleration of digitalization in all areas. This caused significant changes in economic and social life. Through digitalization, the need for people in business life has decreased and has forced the traditional employment structure to change. During the pandemic period, some segments enjoyed the advantages of owning digital technologies, while others remained strangers to the new world because they were deprived of digital technologies, revealing the inequality of opportunity on an individual or social basis. Although this rapid change produced positive results, it also brought about risks. To help mitigate such emerging risks, The New Digital Era's two volumes vitally generate new information in order to determine the advantages and risks in which areas this digitalization, which has increased with the COVID-19 pandemic. The chapter authors highlight the new social and economic policies that are needed to balance the effects on social and economic life and prevent possible conflicts between individuals and societies Contemporary Studies in Economic and Financial Analysis publishes a series of current and relevant themed volumes within the fields of economics and finance. Both disciplinary and interdisciplinary studies are welcome.
The New Digital Era
The COVID-19 pandemic has led to further acceleration of digitalisation in all areas. This caused significant changes in economic and social life. Through digitalisation, the need for people in business life has decreased and has forced the traditional employment structure to change. During the pandemic period, some segments enjoyed the advantages of owning digital technologies, while others remained strangers to the new world because they were deprived of digital technologies, revealing the inequality of opportunity on an individual or social basis. Although this rapid change produced positive results, it also brought about risks. To help mitigate such emerging risks, The New Digital Era's two volumes vitally generate new information in order to determine the advantages and risks in which areas this digitalisation, which has increased with the COVID-19 pandemic. The chapter authors highlight the new social and economic policies that are needed to balance the effects on social and economic life and prevent possible conflicts between individuals and societies Contemporary Studies in Economic and Financial Analysis publishes a series of current and relevant themed volumes within the fields of economics and finance. Both disciplinary and interdisciplinary studies are welcome.
Regenerative Oikonomics
This book presents a unique real-world-centred approach to economic life from a phenomenological approach. It offers a much-needed alternative to conventional economic thinking, giving a transdisciplinary depiction of the economic process's social, cultural, technological, political, and ecological dimensions. Doing so appeals to students and researchers in economics aiming to get an alternative to the reductionist model-based approach.Written in a jargon-free and non-technical way, it appeals to non-economists alike and those seeking a more profound and living understanding of the economic process. What is the role of nature in the economic process? Is there more to economics than we have been told? Do we have infinite needs? What are these needs? Can we keep on growing forever? Does economic growth improve our wellbeing? Why is the income gap widening? What is the role of financial capital in our current world? Are there other forms of producing, distributing, and consumingwealth beyond markets? What are the functions of markets, and how do they work in the real world? These and many other aspects are discussed in living and holistic ways in this book. It is a must-read for all those interested in gaining a more profound and genuine understanding of our current reality and those looking for ways out of our current crises.
The Global Currency Power of the Us Dollar
Chapter 1: The Dollar as a Global Currency.- Chapter 2: The Origins of the Global Currency Power of the US Dollar.- Chapter 3: The Growth in the Role of the Dollar as a Global Currency Power.- Chapter 4: The Benefits of the Dollar System to the United States and the Rest of the World.- Chapter 5: The Defects of the Dollar-Centered Global Financial System.- Chapter 6: Prospects for the Dollar.- Chapter 7: Possible Reforms of the Dollar-Centered Reserve System.- Chapter 8: The IMF and Reform of the Dollar-Centered Reserve System.- Chapter 9: The Dollar and Digital Currencies.- Chapter 10: Conclusions.
The Guidance of an Enterprise Economy
A rigorous theory of money, credit, and bankruptcy in the context of a mixed economy, uniting Walrasian general equilibrium with macroeconomic dynamics and Schumpeterian innovation. This book offers a rigorous study of control, guidance, and coordination problems of an enterprise economy, with attention to the roles of money and financial institutions. The approach is distinctive in drawing on game theory, methods of physics and experimental gaming, and, more generally, a broader evolutionary perspective from the biological and behavioral sciences. The proposed theory unites Walrasian general equilibrium with macroeconomic dynamics and Schumpeterian innovation utilizing strategic market games. Problems concerning the meaning of rational economic behavior and the concept of solution are noted. The authors argue that process models of the economy can be built that are consistent with the general equilibrium system but become progressively more complex as new functions are added. Explicit embedding of the economy within the framework of government and society provides a natural, both formal and informal, control system. The authors describe how to build and analyze multistate models with simple assumptions about behavior, and develop a general modeling methodology for the construction of models as playable games.
Statistics, New Empiricism and Society in the Era of Big Data
This book reveals the myriad aspects of Big Data collection and analysis, by defining and clarifying the meaning of Big Data and its unique characteristics in a non-technical and easy-to-follow way. Moreover, it discusses critical issues and problems related to the Big Data revolution and their implications for both Statistics as a discipline and for our everyday lives. The author identifies various problems and limitations in the quantitative analysis of Big Data, with regard to e.g. its volume, velocity and variety, as well as its reliability and veridicity. Dedicated chapters focus on the epistemological aspects of data-based knowledge and ethical aspects of the use of Big Data, while also addressing paradigmatic cases such as Cambridge Analytica and the use of data from social networks to influence election outcomes.
Essays in Honour of Fabio Canova
Both parts of Volume 44 of Advances in Econometrics pay tribute to Fabio Canova for his major contributions to economics over the last four decades.
Foundations of Real-World Economics
Foundations of Real-World Economics demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. This edition explores the realities of oligopolies, the real impact of the minimum wage and other ways in which powerful institutions cause distortions in mainstream models
Microeconomics
Microeconomics: Basic Principles and Applications is one of the uniquely organized books in Economics. Its emphasis is on the understanding of microeconomic theories and how these theories can be applied in addressing challenges of real world firms. This emphasis is reflected in the type of examples, illustrations and questions for discussion presented in each topic which provide strong analytical skills and tools to learners. The book is organized such that the demand and supply curves are derived from the consumer behaviour and cost of production respectively, followed by analysis of the market equilibrium, prices, market structures and welfare economics. Some of the key microeconomic issues covered in this book include: -Theory of consumer behaviour and demand-Production theory and cost of production-Theory of supply-Market equilibrium-Price and output under pure and imperfect competition-Factor market and -Economic role of governmentLearners will find this book resourceful in their various stages of learning economic theory because its chapters are straightforward and coherently short such that learners can comprehend each chapter in one sitting.
Models of a Man
Essays that pay tribute to the wide-ranging influence of the late Herbert Simon, by friends and colleagues. Herbert Simon (1916-2001), in the course of a long and distinguished career in the social and behavioral sciences, made lasting contributions to many disciplines, including economics, psychology, computer science, and artificial intelligence. In 1978 he was awarded the Nobel Prize in economics for his research into the decision-making process within economic organizations. His well-known book The Sciences of the Artificial addresses the implications of the decision-making and problem-solving processes for the social sciences. This book (the title is a variation on the title of Simon's autobiography, Models of My Life) is a collection of short essays, all original, by colleagues from many fields who felt Simon's influence and mourn his loss. Mixing reminiscence and analysis, the book represents "a small acknowledgment of a large debt." Each of the more than forty contributors was asked to write about the one work by Simon that he or she had found most influential. The editors then grouped the essays into four sections: "Modeling Man," "Organizations and Administration," "Modeling Systems," and "Minds and Machines." The contributors include such prominent figures as Kenneth Arrow, William Baumol, William Cooper, Gerd Gigerenzer, Daniel Kahneman, David Klahr, Franco Modigliani, Paul Samuelson, and Vernon Smith. Although they consider topics as disparate as "Is Bounded Rationality Unboundedly Rational?" and "Personal Recollections from 15 Years of Monthly Meetings," each essay is a testament to the legacy of Herbert Simon--to see the unity rather than the divergences among disciplines.
This is how IT is done!
This book intends to help small business owners. Many business owners, such as Medical Doctors, suddenly find out they are in business and they are making a lot of money. But they have never received any education in microeconomics. This book teaches quickly how to do Economic Evaluations suitable for correct business decisions. It is a misconception that Accounting is a good tool for business decision making. It is not. Accounting, mixed with a few Economic ideas, is catastrophic. Sorry Accountants! A correct Economic Evaluation depends less in the correct use of Algorithms that in digging out accurate data for the analysis. Normally, about 85 percent of the effort goes to obtaining accurate data to input in the variables of the Algorithm. Bernard Antonio Maristany y Costales-Gonz獺lez was born in Havana, Cuba, in 1931. His primary and secondary education were studied at The Colegio de la Salle, Vedado, in Havana. He graduated in both tracks, Science and Letters, simultaneously. He graduated in 1949. He earned a Bachelor in the Science of Chemical Engineering at Rensselaer Polytechnic Institute (RPI) in Troy, New York, in 1953. He returned to Cuba to work in Soap and detergents (Crusellas & Co.) in paint manufacture (Sherwin Williams), and also taught Metallurgy and Unit Operations laboratory to seniors in Chemical Engineering at the University of Saint Thomas Of Villanova, in Havana. He moved with his family to Miami, Florida in 1960. Later he earned an MBA from the University of Delaware in 1965. He moved to Wilmington, Delaware in 1962. He worked with then Atlas Chemical Industries in their Corporate Economics Department. He moved in 1965 to Baton Rouge, LA to work in Economics with Ethyl Corporation.
Monetary Unions
This textbook explains the notion of monetary union, highlighting the key concepts, procedures, and challenges involved. The book is organized in three parts. In the first part, the reader learns about monetary issues, like definitions and typology of monetary unions, rationale of monetary unions, monetary policy, monetary institutional matters. The second part is devoted to fiscal matters and the interplay between fiscal and monetary policies, such as deficits, transfers, public debt sustainability issues, fiscal policy, policy mix. The last part focuses on other distinct but related issues, necessary to complete the union: banking and fiscal unions, structural adjustments in a monetary union. It ends with a chapter on the fate of monetary unions: how they develop, mature and sometimes dissolve. The book addresses students at undergraduate and graduate level, interested in a better understanding of international macroeconomics and monetary unions, as well as policy-makers, practitioners and economists in central banks, ministries of economics, economic institutions and banks.
Money Talks
This book explores the American freemarket economy, espoused by Alan Greenspan, the longtime chairman of the Federal Reserve, through decoding the discourse of economics. Combining an analysis of both economics and language, the legacy of Reaganomics is examined in relation to economic inequality, fiscal policy, public discourse, and the moral economy. How notions of easy money, conspicuous consumption, and unlimited economic growth were harnessed to justify the Free Market revolution is also discussed.This book aims to highlight the drivers of modern inequality and economic distress. It will be relevant to students and researchers interested in the history of economic thought and economic discourse.
Jamaica's Evolving Relationship with the IMF
This book explores Jamaica's contemporary relationship with the International Monetary Fund since 2010. It looks at Jamaica's high debt and its inability to access financial support amidst international capital market restrictions, contextualizing harsh socio-economic realities. This book discusses Jamaica's second return to the IMF and the resulting network of actors, governance and political and socio-economic efforts to re-engender a relationship with a "new' IMF. Credibility was restored, demonstrated by and leading to the successful implementation of the 2013 Extended Fund Facility and subsequent exit to a Precautionary Stand-By Arrangement in 2016. Clarke and Nelson signal from their analyses lessons learned, discussing the economic prognosis for Jamaica as well as their relationship with the IMF under the shadow of the COVID pandemic.
This is how IT is done!
This book intends to help small business owners. Many business owners, such as Medical Doctors, suddenly find out they are in business and they are making a lot of money. But they have never received any education in microeconomics. This book teaches quickly how to do Economic Evaluations suitable for correct business decisions. It is a misconception that Accounting is a good tool for business decision making. It is not. Accounting, mixed with a few Economic ideas, is catastrophic. Sorry Accountants! A correct Economic Evaluation depends less in the correct use of Algorithms that in digging out accurate data for the analysis. Normally, about 85 percent of the effort goes to obtaining accurate data to input in the variables of the Algorithm. Bernard Antonio Maristany y Costales-Gonz獺lez was born in Havana, Cuba, in 1931. His primary and secondary education were studied at The Colegio de la Salle, Vedado, in Havana. He graduated in both tracks, Science and Letters, simultaneously. He graduated in 1949. He earned a Bachelor in the Science of Chemical Engineering at Rensselaer Polytechnic Institute (RPI) in Troy, New York, in 1953. He returned to Cuba to work in Soap and detergents (Crusellas & Co.) in paint manufacture (Sherwin Williams), and also taught Metallurgy and Unit Operations laboratory to seniors in Chemical Engineering at the University of Saint Thomas Of Villanova, in Havana. He moved with his family to Miami, Florida in 1960. Later he earned an MBA from the University of Delaware in 1965. He moved to Wilmington, Delaware in 1962. He worked with then Atlas Chemical Industries in their Corporate Economics Department. He moved in 1965 to Baton Rouge, LA to work in Economics with Ethyl Corporation.
Gendered Stereotypes and Female Entrepreneurship in Southern Europe, 1700-1900
Economic Theory in the Twentieth Century, an Intellectual History--Volume II
This book, set out over three-volumes, provides a comprehensive history of economic thought in the 20th century with special attention to the cultural and historical background in the development of theories, to the leading or the peripheral research communities and their interactions, and finally to an assessment and critical appreciation of economic theories. Volume II addresses economic theory in the period between the two world wars in which the economic theory went through a process of criticism of old mainstream, deconstruction and reconstruction and theoretical ferment which involved the intellectual communities of economists emphasizing their nature of evolving interacting entities. This work provides a significant and original contribution to the history of economic thought and gives insight to the thinking of some of the major international figures in economics. It will appeal to students, scholars and the more informed reader wishing to further their understanding of the history of the discipline.
The Representation of Economics in Cinema
Cinema articulates the economic anxieties of each generation of filmmakers and audiences. It has an influence on people's views on various economic issues and many orders of magnitude larger than that of economics as a discipline. This book offers a sweeping study of the representation of economics in cinema across a wide range of areas and genres, from the conflicts over resources in the lawless Old West to the post-scarcity societies of science fiction futures. This book studies how films have portrayed trade unions, scarcity, money, businesses, innovators, migrant workers, working women, globalization, the stock market, and the automation of work. It aims to be useful to those who are interested in cinema with economic themes and to those who want to learn about economics through cinema.
Outward Foreign Direct Investment of Chinese Enterprises
Chapter 1 The Exceptional Performance of Chinese Outward Direct Investment Firms 61 Introduction. 62 Literature Review.. 73 Data and Empirics 83.1 Data. 83.2 Empirical Results 103.3 Benchmark Estimates 103.4 Alternative Measure of Firm Performance. 113.5 Robustness Checks 114 Policy Suggestions 145 Conclusions 15Chapter 2 Firm Productivity and Outward Foreign Direct Investment: A Firm- Level Empirical Investigation of China. 171 Introduction. 172 Data and Measurement 203 Determinants Affecting Enterprises' Entry into the FDI Market 244 Enterprise Productivity and the Enterprise FDI Decision. 294.1 Impact of the Firm's Productivity on Its OFDI Decision. 294.2 Endogeneity between OFDI and Firm Productivity. 314.3 Relationship between Firm Productivity and Income Level of the Destination Country. 324.4 Enterprise OFDI and Industry Labor Intensity. 355 Impact of Firm Productivity on the Volume of OFDI 365.1 Benchmark Regression. 375.2 Endogeneity Analysis 385.3 Additional Robustness Tests: Analysis Based on the Gravity Equation. 406 Summary. 41Appendix. Estimation of TFP Using the Olley and Pakes (1996) Method. 42Chapter 3 Distribution, outward FDI, and productivity heterogeneity: China and cross-countries' evidence. 441 Introduction. 442 Model 473 Data and measures 513.1 FDI decision data. 513.2 FDI flow data. 523.3 Firm-level production data. 523.4 Data merge. 534. Extensive margin of FDI 564.1 Descriptive analysis on productivity differences 564.2 Extensive margin of FDI 584.3 Estimates with rare events corrections 594.4 Multinomial logit estimates with distribution FDI 614.5 Endogeneity of firm productivity. 644.6 Discussions of fixed costs ordering. 655 Type-2 Tobit estimates of intensive margin. 676 Investment destination. 696.1 Communication costs in destination markets 696.2 Investment decision by destination income. 716.3. Threshold estimates of the linder hypothesis 737 Concluding remarks 74Chapter 4 Outward FDI and Domestic Input D Distortions: Evidence from Chinese Firms 761 Motivation and Findings 762 Data and Stylised Facts 802.1 Data. 802.2 Measures 822.3 Stylised Facts 843 Model 913.1 Setup. 913.2 Domestic Production, Exporting and FDI 933.3 Domestic Distortion and Patterns of Outward FDI 954 Evidence. 1024.1 FDI Decision and Firm Ownership. 1024.2 Input Market Distortions 1044.3 Channels and Sectoral Heterogeneity. 1064.4 Capital Intensity and Pattern of Outward FDI 1074.5 Estimates at the Intensive Margin. 1084.6 Outward FDI Data between 2000 and 2013. 1095 Concluding Remarks 110Chapter 5 Does Outward FDI Generate Higher Productivity for Emerging Economy MNEs? - Micro-level Evidence from Chinese Manufacturing Firms 1111 Introduction. 1112 Literature review and hypothesis development 1142.1 OFDI and EMEs' productivity growth. 1192.2 State ownership and OFDI's productivity effect on EMEs 1212.3 Absorptive capacity and OFDI's productivity effect on EMEs 1242.4 Investment destination and OFDI's productivity effect on EMEs 1243 Methodology. 1263.1 Data. 1263.2 Meas
International Trade and the Music Industry
Live music events are seldom associated with international trade. This book serves to transform this mindset, through describing the economic value of live music and analysing the factors affecting international trade in Caribbean live music services.
Principles of Sustainable Finance
Finance is widely seen as an obstacle to a better world. Principles of Sustainable Finance explains how the financial sector can be mobilized to counter this. Using finance as a means to achieve social goals, we can divert the planet and its economy from its current path to a world that is sustainable for all. Written for undergraduate, graduate, and executive students of finance, economics, business, and sustainability, this textbook combines theory, empirical data, and policy to explain the sustainability challenges for corporate investment. It shows how finance can steer funding to certain companies and projects without sacrificing return and thus speed up the transition to a sustainable economy. It analyses the Sustainable Development Goals as a strategy for a better world and provides evidence that environmental, social, and governance factors matter, explaining in detail how to incorporate these factors in the corporate and financial sectors. Tailored for students, Principles of Sustainable Finance starts each chapter with an overview and learning objectives to support study. It includes suggestions for further reading, lists and definitions of key concepts, and extensive uses of figures, boxes, and tables to enhance educational goals and clarify concepts. Principles of Sustainable Finance is also supported by an online resource that includes teaching materials and cases.
Economics of Markets
This book establishes that neoclassical economics based on the marginal utility calculus failed to derive a theory of consumer market price discovery consistent with the experimental market evidence. Such markets involve inherently discrete final-demand items bought for consumption and not subject to resale. Classical economists following Adam Smith articulated a rich narrative of price discovery theory consistent with experimental evidence based on operational concepts of discrete demand values (maximum willingness-to-pay), and symmetrically, supply costs (minimum willingness-to-accept). We develop and extend a mathematical model of classical market price formation. Chapter 1 & 2 describes this theme and chapter 3 connects it with experiments. Chapter 4 builds on experimental examples for an intuitive overview of the theory. A partial equilibrium version of the theory constitutes Chapter 5. Chapter 6 extends this framework to price formation by wealth constrained agents in multiple-goods markets. Chapter 7 applies this framework to the study of re-tradable durable-goods and financial claims that are subject to sources of instability absent in markets for consumer non-durables.
Diversity of Capitalism in Central and Eastern Europe
This book explores the hypothesis of the emergence of a 'dependent capitalism' in Central and Eastern Europe. In a first theoretical part, this book presents the main approaches that structure the field of comparative capitalism and then examines this model shaped by the inflow of foreign capital. In an original way, it proposes to integrate the form of the monetary regime into the dependent capitalism analysis and to extend it to Balkan countries. The monetary regime is seen as complementary to the other elements of the institutional configuration of dependent capitalism. In the second part, the authors adopt a historical and empirical perspective. First, they demonstrate how dependent capitalism has emerged in Central and Eastern Europe and the Baltic States over the last 30 years as part of the process of socio-economic transformation that began in 1990. The crisis of 2008 was an indicator of this dependence on Western capital. Secondly, they extend the analysis to the Balkancountries and show that dependence is even stronger for them, particularly in the monetary area, as evidenced by the implementation of currency boards or euroization phenomena.This book is of interest to academics and students, as well as to business and economic policy makers.
