Development, Interculturality and Power; Translating an NGO-led Development Intervention in the Peruvian Andes
This research expands the conversation about how interculturality is practiced within NGO-led development project using a case in the Andes as a fictional ethnography. The book touches on how silent racism is reproduced within development practice and calls for the re-politicization of interculturality.
Can Finance Save the World?
How to Make Finance a Force for Good Just as Thomas Piketty offered a sweeping critique and progressive reassessment of capitalism, former World Bank Group chief financial officer Bertrand Badr looks at the destructive role finance played in the global economic crisis of 2007 2008 and offers a bold prescription for making it a force for good. Badr describes how finance can be harnessed to help us solve many of the world's biggest problems climate change, poverty, infrastructure rebuilding, and more. As he writes, ''''When controlled and used intelligently, with benevolence and inventiveness, finance can accomplish great things.''''
The Divine Right of Capital
Updated paperback edition includes a new chapter and a Reader's Guide 璽 [ Explores the real causes of the Enron fiasco and other recent corporate scandals 璽 [ Explodes the myth that the stock market is ''''''''democratizing'''''''' wealth 璽 [ Gives practical guidance to help employees and communities change corporate governance and unfetter the genius of the free market. Wealth inequality, corporate welfare, and industrial pollution are symptoms - the fevers and chills of the economy. The underlying illness, says Business Ethics magazine founder Marjorie Kelly, is shareholder primacy: the corporate drive to make profits for shareholders, no matter who pays the cost. In The Divine Right of Capital, Kelly argues that focusing on the interests of stockholders to the exclusion of everyone else's interests is a form of discrimination based on property or wealth. She shows how this bias is held by our institutional structures, much as they once held biases against blacks and women. The Divine Right of Capital exposes six aristocratic principles that corporations are built on, principles that we would never accept in our modern democratic society but which we accept unquestioningly in our economy. Wealth bias is a holdover from our pre - democratic past. It has enabled shareholders to become a kind of economic aristocracy. Kelly shows how to design more equitable alternatives - new property rights, new forms of corporate governance, new ways of looking at corporate performance - that build on both free - market and democratic principles. We think of shareholder primacy as the natural law of the free market, much as our forebears thought of monarchy as the most natural form of government. But in The Divine Right of Capital, Kelly brilliantly demonstrates that it is no more ''''''''natural'''''''' than any other human creation. People designed this system and people can change it. We need a change of mind as profound as that of the American Revolution. We must question the legitimacy of a system that gives the wealthy few - the ten percent of Americans who own ninety percent of all stock - a disproportionate power over the many. In so doing, we can fulfill the democratic principles of our nation not only in the political sphere, but in the economic sphere as well.
The Degrowth Alternative
Degrowth is a planned economic contraction in wealthy countries that reduces production and consumption to sustainable levels within ecological limits. This book explores the idea of degrowth as an economic alternative to offer a more sustainable and just future.
Optimally Irrational
For a long time, economists have assumed that we were cold, self-centred, rational decision makers - so-called Homo economicus; the last few decades have shattered this view. The world we live in and the situations we face are of course rich and complex, revealing puzzling aspects of our behaviour. Optimally Irrational argues that our improved understanding of human behaviour shows that apparent 'biases' are good solutions to practical problems - that many of the 'flaws' identified by behavioural economics are actually adaptive solutions. Page delivers an ambitious overview of the literature in behavioural economics and, through the exposition of these flaws and their meaning, presents a sort of unified theory of behaviouralism, cognitive psychology and evolutionary biology. He gathers theoretical and empirical evidence about the causes of behavioural 'biases' and proposes a big picture of what the discipline means for economics.
The Punters' Guide to Democracy
This book discusses multiple ways of voting in a democratic system and explains the basis of more consensual politics. Without delving into too much technical argument or too many mathematical examples, it aims to show that binary decision-making is blunt, primitive, divisive, and sometimes inaccurate; prove that other methodologies are more accurate and, therefore, more democratic; highlight more inclusive and effective voting procedures; discuss electoral reforms for national parliaments and international forums like the UN Security Council and COP26/27.The book is written not just for academia, or for the politicians and journalists, or for other specialists; it is for the general public: for students still at school, for voters in society at large, and for activists in umpteen NGOs."...the West's relentless pursuit of binary voting... has been a cause of countless tragedies. This book is brilliant: political controversies should rarely if ever be 'resolved' by majority vote."Arend Lijphart, Professor Emeritus of Political Science, University of California, San Diego"[for] those who do not believe in a black-or-white world... a very important and extremely timely contribution..."Věra Stojarov獺, Associate Professor of Political Science, Masaryk University, Brno, Czech Republic"Peter's challenge to the binary "win-lose" approach is urgently necessary, as is his proposal for an eminently more reasonable, accountable, and participatory system."Dr. Valery Perry, Democratization Policy Council, Sarajevo"...the preferential points vote... would be the more accurate way to make decisions, and the consequences far more peaceful."Lord Boyce, House of Lords"He builds a case for a specific version of preferential procedure, not only for elections, but for decision making as well."Hannu Nurmi, Professor Emeritus of Political Science, University of Turku, Finland"A particularly strong plea in favour of voting procedures... which go far beyond the usual 'yes or no' ballots. [He uses] an alert prose and a wealth of illuminating and easily graspable examples." Maurice Salles, Emeritus Professor, Universit矇 de Caen Normandie
Completing Capitalism
For the past fifty years, leaders in the business world have believed that their sole responsibility is to maximize profit for shareholders. But this obsessive focus was a major cause of the abuses that nearly sunk the global economy in 2008. In this analytically rigorous and eminently practical book, Bruno Roche and Jay Jakub offer a more complete form of capitalism, one that delivers superior financial performance precisely because it mobilizes and generates human, social, and natural capital along with financial capital. They describe how the model has been implemented in live business pilots in Africa, Asia, and elsewhere. Recent high-profile books like Capital in the Twenty-First Century have exposed financial capitalism's shortcomings, but this book goes far beyond by describing a well-developed, field-tested alternative.
In Their Own Hands
Two and a half billion people worldwide, most of them desperately poor villagers, need a better way to save and to borrow. Even the most innovative banking institutions can't reach them; savings groups can. In savings groups, members save what they can in a communal pot and loan their growing fund to each other for their short - term needs. Jeffrey Ashe and Kyla Neilan illustrate how these savings groups form and function and how little ''outside'' support is actually required for their success. Drawing on decades of Ashe's personal experience, this book describes how he developed Saving for Change, which leveraged the wisdom and strength of group members to train and establish new groups. This model has impacted the lives of 680,000 people across five countries. Savings groups are a ''catalytic innovation'' that bypasses subsidies, dependency, and high costs while effectively reducing chronic hunger, building assets, and empowering the community. Today, saving groups have 9 million members around the globe - with minimal support, membership could grow to ten times this number.
Employment, Retirement and Lifestyle in Aging East Asia
This project offers a comprehensive look at aging policies across East Asia, where a demographic dividend fuelled rapid growth and is now aging into a lower-speed economy. With a comprehensive look at numerous East Asian societies, including China, Japan, Korea, and other regions, the book is rich in comparative insights and strategies into what is effective for policymakers and employers. As the Asian century begins, this book will be an invaluable resource for economists, policymakers and demographers.
Sustainable Development Report 2022
The Sustainable Development Report 2022 features the SDG Index and Dashboards, the first and widely used tool to assess country performance on the Agenda 2030 and the Sustainable Development Goals. In a context of multiple crises, the report analyzes and outlines how the SDGs can be used as a roadmap for more sustainable societies by 2030 and beyond. In particular, this year's edition underlines the importance of international financing mechanisms for addressing lack of fiscal space in poorer countries and promoting sustainable investments into physical and human infrastructure. The authors examine country performance on the SDGs for 193 countries using a wide array of indicators, and calculate future trajectories, presenting a number of best practices to achieve the historic Agenda 2030. The views expressed in this report do not reflect the views of any organization, agency or program of the United Nations. This title is available as Open Access on Cambridge Core.
Optimally Irrational
For a long time, economists have assumed that we were cold, self-centred, rational decision makers - so-called Homo economicus; the last few decades have shattered this view. The world we live in and the situations we face are of course rich and complex, revealing puzzling aspects of our behaviour. Optimally Irrational argues that our improved understanding of human behaviour shows that apparent 'biases' are good solutions to practical problems - that many of the 'flaws' identified by behavioural economics are actually adaptive solutions. Page delivers an ambitious overview of the literature in behavioural economics and, through the exposition of these flaws and their meaning, presents a sort of unified theory of behaviouralism, cognitive psychology and evolutionary biology. He gathers theoretical and empirical evidence about the causes of behavioural 'biases' and proposes a big picture of what the discipline means for economics.
Macroeconomic Policy in India Since the Global Financial Crisis
This book discusses the Indian economic crisis and brings out what went wrong and the correction necessary for getting the economy back to high growth trajectory, leading to economic transformation. To do so, the book covers trends in performance of Indian economy since the Global Financial Crisis to the COVID-19 effect, bringing out factors that have determined the same. The book questions the approach to macroeconomic policy of both the RBI and the government and brings out what it takes for macroeconomic policy to be supportive of high growth. It contains revealing contrasts with East Asia and China, although India has the same potential to grow with an expansion of manufacturing. Overall, it argues that macroeconomic policies (as much as structural, industrial, and trade policies) have been deficient and even good initiatives on the industrial policy and trade flounder for the lack of a strategic approach to macroeconomics. The book highlights the special opportunities present in an emerging economy with vast under and utilised labour and the macroeconomic policy initiatives that can take advantage of this key feature. It covers the macroeconomic data on growth using multiple indicators, then the external shocks and the internal policy measures/responses; besides, GVA/GDP, credit, exports, external transactions, interest and policy rates, yields, exchange rates, money, capital flows, indices of industrial sector, price indices and inflation, government expenditures, tax rates, fiscal deficits, market uncertainty measures to present a holistic picture of the economy and the shocks and policy actions that have followed. The book uses an innovative method of presentation and the consistency of the trends/stances of both monetary and fiscal policy using these large number of variables. It discusses the debate on overestimation of GDP/GVA growth estimates over the years from 2011-12 to about 2016-17 comprehensively. There is special coverage of GST with a comparison with China. Coverage also includes performance since the COVID-19 crisis again using a large number of indicators and an explanation for the same in terms of the limitations of the government's initiatives to counteract. The book is a quick and ready reference of what has happened in macroeconomic terms to those interested in the relevant facts. It is of interest to international economists, policy analysts, and investors whose need to understand that the Indian economy in macroeconomic terms and in terms of the stances and penchant of the government and the RBI is of value.
Sustainable Development Report 2022
The Sustainable Development Report 2022 features the SDG Index and Dashboards, the first and widely used tool to assess country performance on the Agenda 2030 and the Sustainable Development Goals. In a context of multiple crises, the report analyzes and outlines how the SDGs can be used as a roadmap for more sustainable societies by 2030 and beyond. In particular, this year's edition underlines the importance of international financing mechanisms for addressing lack of fiscal space in poorer countries and promoting sustainable investments into physical and human infrastructure. The authors examine country performance on the SDGs for 193 countries using a wide array of indicators, and calculate future trajectories, presenting a number of best practices to achieve the historic Agenda 2030. The views expressed in this report do not reflect the views of any organization, agency or program of the United Nations. This title is available as Open Access on Cambridge Core.
Economics of Power Systems
In order to manage the transition towards a sustainable future electricity system, an in-depth understanding of the key technological, economic, environmental and societal drivers for electricity markets is required. Suitable for advanced undergraduate and graduate students, this textbook provides an overview of these drivers and introduces readers to major economic models and empirical evidence for the study of electricity markets and systems. Readers will learn about electricity generation, demand, transport, and storage, as well as the fundamentals of grid and electricity markets in Europe. By introducing them to state-of-the-art models from operations research and economics, the book provides a solid basis for analytical insights and numerical modeling. Furthermore, the book discusses the policy instruments and design choices for electricity market regulation and sustainable power system development, as well as the current challenges for smart energy systems.
Apostles of Inequality
Between 1760 and 1860, the English countryside was subject to constant attempts at agricultural improvement. Most often these meant depriving cottagers and rural workers of access to land they could cultivate, despite evidence that they were the most productive farmers in a country constantly short of food.Drawing from a wide range of contemporary sources, Apostles of Inequality argues that such attempts, driven by a flawed faith in the wonders of capital, did little to increase agricultural productivity and instead led to a century of increasing impoverishment in rural England. Jim Handy rejects the assertions about the benefits that accompanied the transition to "improved" agriculture and details the abundant evidence for the efficiency of smallholder, peasant agriculture. He traces the development of both economic theory and government policy through the work of agricultural improver Arthur Young (1741-1820), government advisor Nassau William Senior (1790-1864), and the editors and writers of the Economist, as well as Adam Smith and Thomas Robert Malthus. Apostles of Inequality demonstrates how a fascination with capital - promoted by political economy and farmers' desires to have a labour force completely dependent on wage labour - fostered widespread destitution in rural England for over a century.
Community Economies in the Global South
People across the globe engage in social and solidarity economics to help themselves, their community, and society on their own terms. Community Economies in the Global South examines how people who conscientiously organize rotating savings and credit associations (ROSCAs) bring positive changes to their own lives as well as others. ROSCAs are a long-established and well documented practice, especially those organized by women of colour. Members make regular deposits to a fund as a savings that is then given in whole or in part to each member in turn based on group economics. This book spotlights women in Latin America, the Caribbean, Africa, and Asia who organize and use these associations, composed of ordinary people belonging to similar class origins who decide jointly on the rules to suit the interests of their members. The case studies show how they vary greatly across countries in the Global South, demonstrating that ROSCAs are living proof that diverse community economies do exist and have been around for a very long time. The contributors recount stories of the self-help, activism, and perseverance of racialized people in order to push for ethical, community-focused business, and to hold onto local knowledge, grounded theory, and lived experience, reducing the need to rely on external funding as people find ways to finance sustainable, debt-free business ventures. The first collection on this topic edited by two women of colour with roots in the Global South, this volume is a rallying call to other scholar-activists to study and report on how racialized people come together, pool goods, and diversify business in the Global South.
The Economics of Covid-19
The Economics of COVID-19 contains selected contributions analysing the effects of the global pandemic on macroeconomics, computable general equilibrium models and financial markets, as well as health studies proposing to improve the traditional epidemic models.
Financial Sustainability of Pension Systems
The sustainability of public pension systems has become an important aspect for governments and institutions worldwide. This book addresses the multiple elements that influence the sustainability of pension systems with a special focus on central and eastern European countries. Supported by the results of econometric empirical studies, the authors discuss and analyse areas like social economy versus capitalist economy, globalization versus glocalization, population aging versus birth and fertility, emigration versus immigration, early retirement versus prolongation versus professional activity, the sustainability of public pension systems versus the adequacy of benefits provided, public pension systems compared to private pension funds and taxation of salary incomes versus subsidization of state social insurance.
Debt Sustainability
This study presents the facts, arguments and scenarios around public debt from a global perspective. Especially the largest economies feature record debt and fiscal risks, including from population ageing and financial imbalances. Given low interest rates, there is no imminent problem. But at some point, debt will have to come down. There are four possible scenarios how debt could come down. First, governments could economise and reform. Second, governments could default. Third, governments could erode the real value of debt via inflation and negative real interest rates. However, this scenario cannot continue forever. Policy errors can prompt a loss of confidence, destabilisation and crisis. This fourth scenario last included the largest economies in the 1970s. It would become a major global challenge if it were to happen again in today's interconnected world.
China's Renaissance
Chapter I Introduction1. Difficult Road to Renaissance 2. China's International Relations and Strategies and its development 3. An Analysis of China's International Relations from Economic Perspective: A New Logical Framework Part I The International Relations of Population Resources and EnvironmentChapter II Development: Global Strategy of the Balance of Population Potential and Resource1. Being defeated without fighting: Chinese Ethnic Civil Quality Decline2. Main Resource Demands and Gaps3. Global Strategy of the Population and Resource in the futureChapter III Global Warming and China's Development 1. The Position of China in the Negotiation of Global Climate2. China's Strategies3. Discussion on China's Environment Strategy in 21st Century Part II Strengthening the External Competitiveness of ChinaChapter IV The Current situation and Gaps of China's Competitiveness in Science and Technology1. The Position of the Science and Technology Competitiveness of China in the World 2. Surpassing Strategies in Science and Technology 3. Summary and Forecast: Innovation-orientated Country and the Pattern of National Competitiveness Part III China's Trade and Monetary StrategiesChapter V China's Trade in Economic Globalization 1. Four Keys to the Climbing the value chain Strategies2. Trade Strategies for Realizing a Mutually BeneficialChapter VI China's Development and World Monetary System in the future1. The Trend for Currency Appreciation2. Strategies for RMB Appreciation and Avoiding Exchange Rate Losses3. RMB Internationalization4. World Monetary System Comes into BeingPart IV Sino-U.S. in the 21st Century and Geopolitical strategyChapter VII Interest Conflict between the U.S. and China and Strategies for dealing with it.1. Forecast for the Interest Conflict between the U.S. and China2. The Strategies of China and the U.S. for National Interests.3. China's Game Strategies to the U.S.Chapter VIII Gains and Costs from the Sino-American Game 1. What the U.S. Gains from the Sino-African Game Strategies2. Costs of the War between China and the U.S. 3. Costs and Benefits of the Game Strategies in the Cooperation of China, the U.S. and Africa4. Third Party Profits in the Game Strategies in the Cooperation of China, the U.S. and Africa5. Conclustion: Cooperative Game Strategies between the U.S. and ChinaChapter IX China's Geo Environment and Relation Strategy1. China's Order of National Benefits in the World 2. Policies of China's Geo Strategies Part V The Peaceful Revival of Chinese CivilizationChapter X Soft Power and Chinese Civilization 1. Evaluation of China's Cultural Soft Power: Strengths and Weaknesses2. Goals and Strategies of China's Cultural Development in the first half of 21st Century3. Specific Strategies in China's Cultural Development in the Future4. ConclusionChapter XI The Road for Peaceful Development and the Renaissance of Chinese Ethnic 1. Road for Development2. Great Renaissance for Chinese Ethnic
Modeling Economic Growth in Contemporary Indonesia
This new volume of the Entrepreneurship and Global Economic Growth series explores Indonesia's most recent business and economic developments. Modeling Economic Growth in Contemporary Indonesia has chapters covering topics such as SMEs, public companies, stock markets, government, or non-profit organizations to explain economic growth and factors. Modeling Economic Growth in Contemporary Indonesia chapters carefully addresses economic growth in contemporary Indonesia. Since the Asian monetary crisis in Indonesia has initiated reforms and its progress is substantial, becoming the largest economy in Southeast Asia and the world's 16th largest. Featuring empirical studies in management and organization along with market-based studies discussing the economic growth of contemporary Indonesia, chapters cover a broad range disciplines, including entrepreneurship, government support, family business, marketing strategy, stock market, poverty, and microfinance. Modeling Economic Growth in Contemporary Indonesia's analysis touches on timely, interdisciplinary subjects effecting both big and small cities in Indonesia while also highlighting the role of education in improving entrepreneurship.
Spectral Theory of Value and Actual Economies
This book develops a unified treatment of the income distribution-capital-value problems with respect to actual economies, and then gradually turns to the issues of effective demand and capitalist accumulation fluctuations from both political economy and economic policy perspectives. That treatment, on the one hand, places produced means of production, positive profits, and capital accumulation at the centre of the analysis and, on the other hand, is analytically based on the modern control theory. Hence, the authors' investigation is concerned with input-output representations of actual single and joint production, heterogeneous labour, and open economies; zeroes in on the characteristic value distributions of the system matrices; and, finally, derives meaningful theoretical results consistent with the empirical evidence, and vice versa. The main topics addressed are the uncontrollable/unobservable aspects of the real-world economies, the powerful low-order spectral approximationsand reconstructions of the inter-industry structure of production-value-distributive variables relationships, the critical-constructive appraisal of both "mainstream" and "radical" theories of value, the matrix demand multipliers and demand-switching policies in heterogeneous capital worlds, and the circular inter-actions amongst income distribution, effective demand, accumulation, and technical conditions of production. Written on the occasion of the 60th anniversary of the publication of both Piero Sraffa's Production of Commodities by Means of Commodities and Rudolf E. Kalman's paper "On the general theory of control systems", this book provides a consistent and comprehensive framework for theoretical, empirical, and economic policy research.
Achieving Price, Financial and Macro-Economic Stability in South Africa
Modeling Monetary Economies
Thoroughly updated and expanded with a new chapter on blockchain and increased coverage of cryptocurrency, as well as new data, this established advanced undergraduate textbook approaches the subject via first principles. It builds on a simple, clear monetary model and applies this framework consistently to a variety of monetary questions. Starting with trade being mutually beneficial, the authors demonstrate that money makes people better off, and that government money competes against other means of payments, including other types of government payments. After developing each of these topics, the book tackles the issue of money competing against other stores of value, examining issues associated with trade, finance, and modern banking. From simple economies to modern economies, the authors address the role banks play in making more trade possible, concluding with the information problems plaguing modern banking.
A Triple Bottom Line Analysis of Global Consumption
This book adds a whole new dimension to the editors' previous work on the social, economic, and environmental effects of global trade. For the first time it brings all three pillars of sustainability together into one coherent multiregional input-output (MRIO) framework. It shows the power of MRIO analysis to illuminate the local and global interdependencies of economic, environmental, and social systems and the benefits to be gained through analysing all three together. Change one thing and everything else changes. With chapters from around 60 researchers across 34 countries, this book illustrates the effect of natural resources and government policy settings 1990-2015 on the balancing act that was--and is--global trade. It provides a holistic systems' view of how supply chains work, revealing how easily they can become fragmented and out of kilter. And within all the chaos of COVID-19 it shows how MRIO is the one tool that can help rebuild a post-pandemic global economy into a fairer, safer world.
Developmental State of Africa in Practice
This book is the product of research undertaken at the African Development Bank (AfDB) on the lessons that the continent of Africa can draw from the role of the state in Asia's rapid economic development in the last 50 years. The book also provides insight into the learning experiences of Asia, in addressing key national policy challenges.
India from Latin America
This book studies the economic history of India and traces the Indian path of development from a Latin American framework and perspective.
Some Cambridge Controversies in the Theory of Capital
The Cambridge Capital Controversy was one of the most significant debates in Twentieth Century economics. First published in 1972, this book provides an accessible reconstruction of the controversy with detailed discussion of the major points raised by its primary protagonists: Piero Sraffa and Joan Robinson on the post-Keynesian side (Cambridge, UK) and Robert Solow and Paul Samuelson on the neo-classical side (Cambridge, MA). The book is now considered to be a classic. This fiftieth anniversary edition comes with a new preface by the author and two new afterwords that reflect on the author's contribution to the field and the significance of the book in the history of economics. Topics covered include the measurement of capital, the revival of interest in Irving Fisher's rate of return on investment, the double-switching debate, Sraffa's prelude to a critique of neoclassical theory, and the 'new' theories of the rate of profits in capitalist society.
Artificial Intelligence and Machine Learning in Smart City Planning
Artificial Intelligence and Machine Learning in Smart City Planning shows the reader practical applications of AIML techniques and describes recent advancements in this area in various sectors. Owing to the multidisciplinary nature, this book primarily focuses on the concepts of AIML and its methodologies such as evolutionary techniques, neural networks, machine learning, deep learning, block chain technology, big data analytics, and image processing in the context of smart cities. The text also discusses possible solutions to different challenges posed by smart cities by presenting cutting edge AIML techniques using different methodologies, as well as future directions for those same techniques.
J.P. Morgan & Co. and the Crisis of Capitalism
During the interwar period, J.P. Morgan was the most important bank in the world and at the crossroads of US politics, international relations and finance. In J.P. Morgan & Co. and the Crisis of Capitalism, Martin Horn brings us the first in-depth history of how J.P. Morgan responded to the greatest crisis in the history of financial capitalism, shedding new light on the Great Depression, the New Deal, and the coming of World War II. Horn shows how J.P. Morgan & Co as a business responded to the 1929 Crash and the Depression, including its part in the New York Stock Exchange Crash, arguing that the Morgan partners misread the seriousness of the crash. He also offers new insights into the interactions of politics and finance, exploring J.P. Morgan's relationship with the Hoover administration and the bank's clash with Roosevelt over New Deal legislation.
Auction Theory
This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders' equilibrium behaviour in different auction formats, along with the seller's strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students.The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D.Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.
Modeling Monetary Economies
Thoroughly updated and expanded with a new chapter on blockchain and increased coverage of cryptocurrency, as well as new data, this established advanced undergraduate textbook approaches the subject via first principles. It builds on a simple, clear monetary model and applies this framework consistently to a variety of monetary questions. Starting with trade being mutually beneficial, the authors demonstrate that money makes people better off, and that government money competes against other means of payments, including other types of government payments. After developing each of these topics, the book tackles the issue of money competing against other stores of value, examining issues associated with trade, finance, and modern banking. From simple economies to modern economies, the authors address the role banks play in making more trade possible, concluding with the information problems plaguing modern banking.
Capitalism and Agrarian Change
Capitalism and Agrarian Change challenges the view that small-scale agricultural producers are assumed to be a single social class pitted against the state or corporation by demonstrating that under current capitalist social relations these agricultural producers have been differentiated into different agrarian classes by exploitation.
The Invisible Link
A sogo shosha is like no other type of company. The Invisible Link provides a systematic and well-balanced description that covers virtually all aspects of sogo shosha operations, from finance to personnel.The sogo shosha is not defined by the products it handles or even by the services it performs, for it offers a broad and changing array of goods and functions. Its business goals are equally elusive, for maximization of profits from each transaction is clearly not the major goal, at either the operating or philosophical level. The sogo shosha could be broadly defined as a large, diversified, multinational enterprise engaged primarily in trading. Yet it is a uniquely Japanese business operation whose structural and strategic dynamics have no close counterparts in North America and Europe. There are only nine sogo shosha in Japan - six of them of major significance - and the largest employs fewer than 15,000. Among them, they handle about one-half of all of Japan's exports and imports. The sogo shosha typically deal in bulk in products that are highly standardized and technologically unsophisticated - raw materials, commodities, intermediary products. A large sogo shosha will finance, develop, manufacture and/or carry over 20,000 different items, "from noodles to missiles" as one slogan has it. The Invisible Link gives detailed coverage to such topics as historical evolution of the sogo shosha, strategic responses and competitive dynamics, culture and organization, administrative structures and processes, human resource systems, career outcomes, interunit and interfirm coordination, sectional and network organization, and emerging challenges as the nature of the Japanese economy changes.
Distribution and Development
Most of the world's people live in "developing" economies, as do most of the world's poor. The predominant means of economic development is economic growth. In this book Gary Fields asks to what extent and in what circumstances economic growth improves the material standard of living of a country's people. Most development economists agree that economic growth raises the incomes of people in all parts of the income distribution and lowers the poverty rate. At the same time, some groups lose out because of changes accompanying economic growth. Fields examines these beliefs, asking what variables should be measured to determine whether progress is being made and what policies and circumstances cause some countries to do better than others. He also shows how the same data can be interpreted to reach different, even conflicting, conclusions. Using both theoretical and empirical approaches, Fields defines and examines inequality, poverty, income mobility, and economic well-being. Finally, he considers various policies for broad-based growth. Copublished with the Russell Sage Foundation.
Global Trends and Transformations in Culture, Business, and Technology
This book offers a concise and analytical portrait of the contemporary world.The author encompasses concepts and theories from multiple disciplines notably sociology, anthropology, business, and economics to examine major global trends and transformations of the modern world, their underlying causes, and their consequences.The text examines global demographic trends, globalization, culture, emerging markets, global security, environmental degradation, large corporations, and economic inequality. The author also analyzes major transformations in healthcare, food, the sharing economy, Fourth Industrial Revolution, consumption, work and organization, innovation and various technologies in areas such as automation, robotics, connectivity, quantum computing, and new materials.This book is a valuable reference for business leaders, managers, students, and all those who are passionate about understanding the rapidly changing contemporary world.
Japan and a Pacific Free Trade Area
This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1971.
Covid-19 in the African Continent
COVID-19 in the African Continent examines the development, achievements, and challenges that have resulted owing to COVID-19 pandemic and how these precarious socioeconomic situations are being managed in African countries. This book explores the range of interventions aimed at mitigating the effects of COVID-19 by offering an in-depth understanding of the disruptive impacts of COVID-19 on the African continent. This edited collection underscores the nature and effects of non-health-related challenges such as environmental complexities and possible solutions to socioeconomic shocks caused by the COVID-19 pandemic along with other social, political, and economic distortions. Providing readers with a profound insight of the critical societal consequences of these challenges in African economies, this book covers the macroeconomic policy approaches adopted by government and non-governmental organisations to boost post-COVID-19 recovery and enhance a systemic process to facilitate the prospects for addressing socioeconomic shocks across the continent.
Foundations and Applications of Complexity Economics
This book presents a survey of the aspects of economic complexity, with a focus on foundational, interdisciplinary ideas. The long-awaited follow up to his 2011 volume Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems: From Catastrophe to Chaos and Beyond, this volume draws together the threads of Rosser's earlier work on complexity theory and its wide applications in economics and an expanded list of related disciplines. The book begins with a full account of the broader categories of complexity in economics--dynamic, computational, hierarchical, and structural--before shifting to more detailed analysis. The next two chapters address problems associated with computational complexity, especially those of computability, and discuss the Godel Incompleteness Theorem with a focus on reflexivity. The middle chapters discuss the relationship between entropy, econophysics, evolution, and economic complexity, respectively, with applications in urban and regional dynamics, ecological economics, general equilibrium theory, as well as financial market dynamics. The final chapter works to bring together these themes into a broader framework and expose some of the limits concerning analysis of deeper foundational issues.With applications in all disciplines characterized by interconnected nonlinear adaptive systems, this book is appropriate for graduate students, professors and practitioners in economics and related disciplines such as regional science, mathematics, physics, biology, environmental sciences, philosophy, and psychology.
Japan and a Pacific Free Trade Area
This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1971.
Soviet National Income 1958-1964
Soviet National Income, 1958-1964: National Accounts of the USSR in the Seven Year Plan Period by Abraham S. Becker offers a rigorous reconstruction and analysis of Soviet national income during a critical juncture in postwar economic history. Using the Soviet National Income and Product (SNIP) accounting framework pioneered by Abram Bergson and colleagues, Becker presents independently compiled accounts for each year of 1958-1964 and for the plan year 1965 as originally envisioned in the Seven Year Plan (SYP). By reworking household income and expenditure flows, public sector financing, investment, and capital-output relationships, the study provides a comprehensive portrait of the Soviet economy under Khrushchev. Central to the analysis are the difficulties of valuation in a command economy--distorted prices, turnover taxes, subsidies, and agricultural price disparities--and the adjustments necessary to approximate factor cost and constant-price measures. These methodological refinements allow Becker to chart growth trends, resource allocation, and structural change with unusual precision, while also probing the limits of Soviet statistical transparency. The results reveal both the ambitions and contradictions of the Seven Year Plan era. Growth slowed markedly compared to the rapid postwar decades, with per capita gains narrowing and agricultural stagnation undermining official targets. Military expenditures remained significant, though their accounting was obscured by budgetary categories. Investment continued at high rates but yielded diminishing returns, reflected in rising capital-output ratios. By juxtaposing ex ante SYP goals with ex post outcomes, Becker highlights the gap between Soviet planners' aspirations and economic realities, showing how policy adjustments responded to agricultural shortfalls, shifting defense priorities, and fiscal pressures. Comparative chapters situate Soviet performance within broader international trends, contrasting consumption, investment, and structural change with those of Western economies. The study concludes that the economic retardation of the SYP years was not merely cyclical but symptomatic of deeper inefficiencies in Soviet planning and valuation practices, setting the stage for the hesitant reforms of the mid-1960s. For scholars of comparative economic systems, Becker's work remains a foundational examination of how to measure--and interpret--growth in a socialist command economy. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1969.
A History of Russian Economic Thought
A History of Russian Economic Thought: Ninth Through Eighteenth Centuries offers an in-depth exploration of the evolution of Russian economic ideas from medieval times to the early modern period, serving as a critical resource for scholars seeking to understand the intellectual foundations of Soviet thought. Written by distinguished Soviet economists, the volume reexamines the historical interplay between Russian and Western economic ideas, challenging earlier interpretations that overemphasized Western influences while undervaluing Russia's indigenous intellectual traditions. The authors meticulously analyze primary and secondary sources, offering fresh insights into the role of economic thought in shaping Russia's early societal structures and its enduring legacy. This translation aims to make these seminal essays accessible to Western readers, emphasizing the ideological context and nuances embedded in Soviet scholarship. Beyond its academic value, the book highlights the ideological divergence between Soviet and Western social thought, inviting readers to contemplate the underlying forces that shape intellectual and political dynamics across civilizations. With its comprehensive glossary, index, and faithful adherence to the authors' intent, this volume not only illuminates the trajectory of Russian economic ideas but also fosters a broader understanding of how historical and ideological frameworks influence modern global relations. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1964.
Soviet National Income 1958-1964
Soviet National Income, 1958-1964: National Accounts of the USSR in the Seven Year Plan Period by Abraham S. Becker offers a rigorous reconstruction and analysis of Soviet national income during a critical juncture in postwar economic history. Using the Soviet National Income and Product (SNIP) accounting framework pioneered by Abram Bergson and colleagues, Becker presents independently compiled accounts for each year of 1958-1964 and for the plan year 1965 as originally envisioned in the Seven Year Plan (SYP). By reworking household income and expenditure flows, public sector financing, investment, and capital-output relationships, the study provides a comprehensive portrait of the Soviet economy under Khrushchev. Central to the analysis are the difficulties of valuation in a command economy--distorted prices, turnover taxes, subsidies, and agricultural price disparities--and the adjustments necessary to approximate factor cost and constant-price measures. These methodological refinements allow Becker to chart growth trends, resource allocation, and structural change with unusual precision, while also probing the limits of Soviet statistical transparency. The results reveal both the ambitions and contradictions of the Seven Year Plan era. Growth slowed markedly compared to the rapid postwar decades, with per capita gains narrowing and agricultural stagnation undermining official targets. Military expenditures remained significant, though their accounting was obscured by budgetary categories. Investment continued at high rates but yielded diminishing returns, reflected in rising capital-output ratios. By juxtaposing ex ante SYP goals with ex post outcomes, Becker highlights the gap between Soviet planners' aspirations and economic realities, showing how policy adjustments responded to agricultural shortfalls, shifting defense priorities, and fiscal pressures. Comparative chapters situate Soviet performance within broader international trends, contrasting consumption, investment, and structural change with those of Western economies. The study concludes that the economic retardation of the SYP years was not merely cyclical but symptomatic of deeper inefficiencies in Soviet planning and valuation practices, setting the stage for the hesitant reforms of the mid-1960s. For scholars of comparative economic systems, Becker's work remains a foundational examination of how to measure--and interpret--growth in a socialist command economy. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1969.
A History of Russian Economic Thought
A History of Russian Economic Thought: Ninth Through Eighteenth Centuries offers an in-depth exploration of the evolution of Russian economic ideas from medieval times to the early modern period, serving as a critical resource for scholars seeking to understand the intellectual foundations of Soviet thought. Written by distinguished Soviet economists, the volume reexamines the historical interplay between Russian and Western economic ideas, challenging earlier interpretations that overemphasized Western influences while undervaluing Russia's indigenous intellectual traditions. The authors meticulously analyze primary and secondary sources, offering fresh insights into the role of economic thought in shaping Russia's early societal structures and its enduring legacy. This translation aims to make these seminal essays accessible to Western readers, emphasizing the ideological context and nuances embedded in Soviet scholarship. Beyond its academic value, the book highlights the ideological divergence between Soviet and Western social thought, inviting readers to contemplate the underlying forces that shape intellectual and political dynamics across civilizations. With its comprehensive glossary, index, and faithful adherence to the authors' intent, this volume not only illuminates the trajectory of Russian economic ideas but also fosters a broader understanding of how historical and ideological frameworks influence modern global relations. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1964.
China’s New Business Elite
The transition from a planned to a market economy that began in China in the late 1970s unleashed an extraordinary series of changes, including increases in private enterprise, foreign investment, the standard of living, and corruption. Another result of economic reform has been the creation of a new class--China's new business elite. Margaret M. Pearson considers the impact that this new class is having on China's politics. She concludes that, contrary to the assumptions of Westerners, these groups are not at the forefront of the emergence of a civil society; rather, they are part of a system shaped deliberately by the Chinese state to ensure that economic development will not lead to democratization.
Chinese History in Economic Perspective
This volume marks a turning point in the study of Chinese economic history. It arose from a realization that the economic history of China--as opposed to the history of the Chinese economy--had yet to be written. Most histories of the Chinese economy, whether by Western or Chinese scholars, tend to view the economy in institutional or social terms. In contrast, the studies in this volume break new ground by systematically applying economic theory and methods to the study of China. While demonstrating to historians the advantages of an economic perspective, the contributors, comprising both historians and economists, offer important new insights concerning issues of long-standing interest to both disciplines. Part One, on price behavior, presents for the first time preliminary analyses of the incomparably rich and important grain price data from the imperial archives in Beijing and Taibei during the Qing Dynasty (1644-1911). These studies reveal long-term trends in the Chinese economy since the seventeenth century and contain surprising discoveries about market integration, the agricultural economy, and demographic behavior in different regions of China. The essays in Part Two, on market response, deal with different aspects of the economy of Republican China (1912-49), showing that markets for land, labor, and capital sometimes functioned as predicted by models of economic "rationality" but at other times behaved in ways that can be explained only by combining economic analysis with knowledge of political, regional, class, and gender differences. Based on new types of data, they suggest novel interpretations of the Chinese economic experience. The resulting collection is interdisciplinary scholarship of a high order, which weaves together the analytic framework provided by economic theory and the rich texture of social phenomena gathered by accomplished historians. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1992.
