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  • Leisure in a Democracy
    La comanda in aproximativ 4 saptamani
    36.00 lei

    Originally published in 1949, this book contains the text of the sixth annual lecture of the National Book League, delivered the previous year by the Liberal politician Viscount Samuel. Samuel considers what the 'right use' of leisure might be in an age where an increasing number of workers were being granted to access to free time through shorter working hours and annual paid leave, and suggests that idleness is only advisable in small doses, with the rest of the time to be spent in self-improvement and education. This book will be of value to anyone with an interest in the history of labour and leisure.

  • 43.00 lei

    Milton Friedman was arguably the single most influential economist of the 20th-century. His influence, particularly on conservative politics in America and Great Britain, substantially helped – as both supporters and critics agree – to shape the global economy as it is today. Capitalism and Freedom (1962) is a passionate but carefully reasoned summary of Friedman’s philosophy of political and economic freedom, and it has become perhaps his most directly influential work. Friedman’s argument focuses on the place of economic liberalism in society: in his view, free markets and personal economic freedom are absolutely necessary for true political freedom to exist. Freedom, for Friedman, is the ultimate good in a society – the marker and aim of true civilisation. And, crucially, he argues, real freedom is rarely aided by government. For Friedman, indeed, “the great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government”. Instead, he argues, they have always been produced by “minority views” flourishing in a social climate permitting variety and diversity.” In successive chapters, Friedman develops a well-structured line of reasoning emerging from this stance – leading him to some surprising conclusions that remain persuasive and influential more than 60 years on.

  • 43.00 lei

    Milton Friedman was one of the most influential economists of all time – and his ideas had a huge impact on the economic policies of governments across the world. A key theorist of capitalism and its relationship to democratic freedoms, Friedman remains one of the most cited authorities in both academic economics and government economic policy. His work remains striking not just for its brilliant grasp of economic laws and realities, but also for its consistent application of high-level evaluation and reasoning skills to produce arguments that can convince experts and laypeople alike. Friedman’s 1968 essay ‘The Role of Monetary Policy’ is a key example of how Friedman’s critical thinking skills helped to cement his influence and reputation. The paper addressed the question of how a government’s monetary policy affects the economy – from employment levels to inflation and so on. At its heart lies an evaluation and critique of the most widely accepted conception of monetary policy at the time – the ‘Phillips Curve’ – which argued that increased inflation leads naturally to increased employment. Systematically noting the flaws and weaknesses of the Phillips Curve theory, Friedman showed why this is not, in fact, the case. He then drew up a systematic alternative argument for what governmental monetary policy could and should aim to do. Though economists now consider Friedman’s ideas to have considerable limitations, ‘The Role of Monetary Policy’ remains a masterclass in evaluating and countering faulty arguments.

  • 7000lei 56.00 lei

    In this remarkable and provocative book, former Greek Finance Minister Yanis Varoufakis explodes the myth that financialisation, ineffectual regulation of banks, greed and globalisation were the root causes of the global economic crisis.

  • Stress Test: Reflections on Financial Crises
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    7000lei 56.00 lei

    From the former Treasury Secretary, the definitive account of the unprecedented effort to save the U.S. economy from collapse in the wake of the worst global financial crisis since the Great Depression

    On 26 January, 2009, during the depths of the financial crisis and having just completed five years as President of the Federal Reserve Bank of New York, Timothy F. Geithner was sworn in by President Barack Obama as the seventy-fifth Secretary of the Treasury of the United States. Now, in a strikingly candid, riveting, and historically illuminating memoir, Geithner takes readers behind the scenes during the darkest moments of the crisis. Swift, decisive, and creative action was required to avert a second Great Depression, but policy makers faced a fog of uncertainty, with no good options and the risk of catastrophic outcomes.

    Stress Test: Reflections on Financial Crises takes us inside the room, explaining in accessible and forthright terms the hard choices and politically unpalatable decisions that Geithner and others in the Obama administration made during the crisis and recovery. He discusses the most controversial moments of his tenures at the Federal Reserve Bank of New York and at the Treasury, including the harrowing weekend Lehman Brothers went bankrupt; the searing crucible of the AIG bonuses controversy; the development of his widely criticized but ultimately successful plan in early 2009 to end the crisis; the bracing fight for the most sweeping financial reforms in seventy years; and the lingering aftershocks of the crisis, including high unemployment, the fiscal battles, and Europe’s repeated flirtations with the economic abyss.

    Geithner also shares his personal and professional recollections of key players such as President Obama, Ben Bernanke, Hank Paulson, and Larry Summers, among others, and examines the tensions between politics and policy that have come to dominate discussions of the U.S. economy. An insider’s account of how the Obama administration saved the economy but lost the American people, Stress Test reveals a side of Timothy Geithner that only few have seen.

  • Economics: The User's Guide
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    57.00 lei

    What is economics?. How does the global economy work? . What do different economic theories tell us about the world?. In Economics: The User's Guide, bestselling author Ha-Joon Chang explains how the global economy works, and why anyone can understand the dismal science. Unlike many economists who claim there is only one way of 'doing economics', he introduces readers to a wide range of economic theories, from classical to Keynesian, revealing how they all have their strengths, weaknesses and blind spots. By ignoring the received wisdom, and exposing the myriad forces that shape our financial fate, Chang provides the tools that every responsible citizen needs to understand - and address - our current economic woes.

  • 57.00 lei

    Originally published in 1939, this volume contains the text of an inaugural lecture delivered by M. M. Postan on his accession to the Professorship of Economic History at the University of Cambridge. This book will be of value to anyone with an interest in economic history or the history of the study of humanities.

  • Industrial Relations: An Inaugural Lecture
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    57.00 lei

    First published in 1931, this book contains the text of the inaugural lecture delivered that year by John Hilton upon his appointment to the Montague Burton Professorship of Industrial Relations in the University of Cambridge. Hilton, who was the first to occupy the Montague Burton Chair, discusses the state of industry as the 'victim' of external forces and the important role of the relationship between employees and employers. This book will be of value to anyone with an interest in the history of the study of industrial relations and the state of industry in inter-war Britain.

  • 61.00 lei

    The Western world has experienced extraordinary economic progress throughout the last six decades, a prosperous period so extended that continuous economic growth has come to seem normal. But such an era of continuously rising living standards is an historical anomaly, economist Stephen D. King warns, and the current stagnation of Western economies threatens to reach crisis proportions in the not-so-distant future. Praised for the "dose of realism" he provided in his book "Losing Control", King follows up in this volume with a plain-spoken assessment of where the West stands today. It's not just the end of an age of affluence, he shows. We have made promises to ourselves that are only achievable through ongoing economic expansion. The future benefits we expect – pensions, healthcare, and social security, for example – may be larger than tomorrow's resources. And if we reach that point, which promises will be broken and who will lose out? The lessons of history offer compelling evidence that political and social upheaval are often born of economic stagnation. King addresses these lessons with a multifaceted plan that involves painful – but necessary – steps toward a stable and just economic future.

  • 74.00 lei

    In this immensely timely book, Andrew Yarrow brings the sometimes eye-glazing discussion of national debt down to earth, explaining in accessible terms why federal debt is rising (and will soon rise much faster), what effects it may have on Americans if debt is not brought under control, why our government borrows, and what it will take to pay it all back. The picture Yarrow paints should concern all Americans. Specifically, he brings to light how rising Medicare, Social Security, and other spending on one hand, and insufficient government revenues on the other, make a mockery of fiscal responsibility. Deficits and debt, Yarrow asserts, are crowding out spending on needed investments in science, environment, infrastructure, and other domestic discretionary programmes, and could severely harm our nation's and our citizens' future. But he makes clear that this does not have to be a doomsday scenario. If we act in a bipartisan fashion to restore fiscal responsibility, our legacy to the next generation can be much more than trillions of dollars of IOUs.

  • 80.00 lei

    This important book delivers a critical wake-up call: a fierce global race for innovation advantage is under way, and while other nations are making support for technology and innovation a central tenet of their economic strategies and policies, America has no robust innovation policy at all. What does this portend? Robert Atkinson and Stephen Ezell, widely respected economic thinkers, report on profound new forces that are shaping the global economy – forces that favour nations with innovation-based economies. Unless the U. S. enacts public policies to reflect this reality, Americans face the lower standards of living associated with a noncompetitive national economy. The authors explore how a weak innovation economy has delayed America's recovery from the Great Recession and how innovation in the U. S. compares with that in other developed and developing nations. Atkinson and Ezell then lay out a detailed, pragmatic road map not only for America to regain its global innovation advantage by 2020, but also for maximizing the global supply of innovation and promoting sustainable globalization.

  • 86.00 lei

    Originally published in 1945, this book presents the content of Harold Stewart Kirkaldy's inaugural lecture upon taking up the position of Montague Burton Chair of Industrial Relations at Cambridge University. This book will be of value to anyone with an interest in the history of industrial relations, trade unions and economics.

  • 93.00 lei

    Sir Arthur Lyon Bowley (1869–1957) was a British economist and statistician. Originally published in 1915, this book contains the substance of four lectures delivered by Bowley at the London School of Economics during January and February of that year. It provides a statistics-based discussion regarding the effect of World War One on the external trade of the UK. This book will be of value to anyone with an interest in economics, statistics and military history.

  • 100.00 lei

    In The Economics of Good and Evil, Sedlacek radically rethinks his field, challenging our assumptions about the world. Economics is touted as a science, a value-free mathematical inquiry, he writes, but it's actually a cultural phenomenon, a product of ou

  • 108.00 lei

    David Ricardo's work on currency was published in 1816, and this second edition appeared in the same year. Enormously successful as a stockbroker, Ricardo (1772–1823) was able to lead the life of a wealthy country squire, while his intellectual interests caused him to move in the circles of Thomas Malthus and James Mill. Written at the urging of the Cornish businessman Pascoe Grenfell, MP, who shared Ricardo's interest in financial matters, this work considers the problem of the national debt, in the context of paper money and whether it should in principle be exchanged at face value for gold bullion rather than for minted coins. Ricardo was very concerned at the large profits being made by the Bank of England in its dealings with the government, and suggests here the creation of an independent central bank, a proposal to which he later returned.

  • 108.00 lei

    An in-depth look at the origins and development of the current financial crisis, from an economist and Washington insider. Jarsulic explains how a wide array of financial institutions - including mortgage banks, commercial banks, and investment banks - created a credit bubble that supported nonprime mortgage lending and helped to inflate house prices in his groundbreaking volume Anatomy of a Financial Crisis. The near-collapse is shown to be the result of multiple regulatory failures and reckless decisions by financial firms that were less sophisticated than they appeared. Jarsulic concludes that significant changes in financial market regulation, especially with respect to firms that are 'too big to fail,' will be needed to prevent future crises and the damage they cause.

  • Wildcat Currency.
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    110.00 lei

    Private currencies have always existed, from notes printed by individual banks to the S&H Green Stamps that consumers once redeemed for household items. Today's economy has seen an explosion of new forms of monetary exchange not created by the federal government. Credit card companies offer points that can be traded in for a variety of goods and services, from airline miles to online store credit. Online game creators have devised new mediums of electronic exchange that turn virtual money into real money. Meanwhile, real money is increasingly going digital, where it competes with private currencies like Bitcoin. The virtual and the real economic worlds are intermingling more than ever before, raising the possibility that this new money might eventually replace the government-run system of dollars, Euros, and yen. Edward Castronova is the leading researcher in this field, a founder of scholarly online game studies and an expert on the economies of virtual worlds. In this dynamic and essential work, he explores the current phenomenon of virtual currencies and what it will mean legally, politically and economically in the future. In doing so, he provides a fascinating, often surprising discourse on the meaning of money itself – what it is, what we think it is, and how we relate to it on an emotional level.

  • 110.00 lei

    In the winter of 1933, the American financial and economic system collapsed. Since then economists, policy makers and financial analysts throughout the world have been haunted by the question of whether "It" can happen again. In 2008 "It" very nearly happened again as banks and mortgage lenders in the USA and beyond collapsed. The disaster sent economists, bankers and policy makers back to the ideas of Hyman Minsky – whose celebrated 'Financial Instability Hypothesis' is widely regarded as predicting the crash of 2008 – and led Wall Street and beyond as to dub it as the 'Minsky Moment'.

    In this book Minsky presents some of his most important economic theories. He defines "It", determines whether or not "It" can happen again, and attempts to understand why, at the time of writing in the early 1980s, "It" had not happened again. He deals with microeconomic theory, the evolution of monetary institutions, and Federal Reserve policy. Minsky argues that any economic theory which separates what economists call the 'real' economy from the financial system is bound to fail. Whilst the processes that cause financial instability are an inescapable part of the capitalist economy, Minsky also argues that financial instability need not lead to a great depression.

    This Routledge Classics edition includes a new foreword by Jan Toporowski.

  • 114.00 lei

    This book provides an introduction to the relationship between economics and ethics, explaining why ethics enters economics, how ethics affects individual economic behavior and the interactions of individuals, and how ethics is important in evaluating the performance of economies and of economic policies.

  • 115.00 lei




    All the big ideas, simply explained - an innovative and accessible guide to economics Bring economics to life with The Economics Book, an essential guide to more that 100 of the big ideas in economic theory and practice covering everything from ancient theories right up to cutting-edge modern developments. From Aristotle to John Maynard Keynes and beyond, all the greatest economists and their theories are featured and the innovative graphics, step-by-step summaries and mind maps help clarify hard-to-grasp concepts. The Economics Book is perfect for economic students and anyone who has an interest in how economies work.

  • 116.00 lei

    2008 was a watershed year for global finance. The banking system was eventually pulled back from the brink, but the world was saddled with the worst slump since the 1930s Depression, and millions were left unemployed. While numerous books have addressed the financial crisis, very little has been written about its social consequences. Journalist Tom Clark draws on the research of a transatlantic team led by Professors Anthony Heath and Robert D. Putnam to determine the great recession's toll on individuals, families and community bonds. The ubiquitous metaphor of the crisis has been an all-encompassing "financial storm", but Clark argues that the data tracks the narrow path of a tornado – destroying some neighbourhoods while leaving others largely untouched. In our vastly unequal societies, disproportionate suffering is being meted out to the poor – and the book's hard-hitting analysis suggests that the scars left by unemployment and poverty will linger long after the economy recovers.

  • 119.00 lei

    This timely collection tackles the issue of the government job guarantee (JG) approach to full employment, taking previous research one step further by providing an in-depth look at practical application for both developed and developing economies. While the 'first generation' of literature on the JG focuses on theory and methodology, this book aims to formalize job guarantee proposals and focus on the practical application of such proposals. Questions raised include: Can the effectiveness of the job guarantee approach be measured, if so how, and what are the conclusions? How do these conclusions reinforce the theory? What are the practical applications? What is the empirical evidence to reinforce the theoretical application? The Job Guarantee: Toward True Full Employment will be the first of its kind to focus on the 'second generation' of job guarantee proposals to full employment, and primarily on theoretical applications, simulations, and case studies to describe the nature, structure, and applicability for developed and developing economies.

  • 119.00 lei

    The American economy is stalled because business and political leaders are ignoring the one force that could truly re-energize their companies and the economy: the poor. The massive economic energy and potential of the poor and the struggling middle class has been left on the sidelines. John Hope Bryant’s stirring book shows how this came to be and lays out some simple ideas for making the economy work again - for everyone. The poor are not stupid or lazy, but they know when the system is stacked against them. Business loans, home loans, and financial investments have vanished from their communities. The path up to the middle class has disappeared, while the path down from the middle class is in danger of becoming a superhighway. The future of our nation fully depends on overturning powerful myths about how the economy works. Fully 70 percent of the American economy is driven by consumer spending, but more and more consumers have less and less to spend and feel like the deck is stacked against them. When business leaders begin to value the poor and understand that helping them succeed will help the economy thrive, we'll be well on our way to restoring the American Dream of equal economic opportunity.

  • 123.00 lei

    In the wake of the financial meltdown in 2008, there were many who claimed it had been inevitable, that "no one saw it coming", and that subprime borrowers were to blame. This accessible, thoroughly researched book is Jennifer Taub's response to such unfounded claims. Drawing on wide-ranging experience as a corporate lawyer, investment firm counsel, and scholar of business law and financial market regulation, Taub chronicles how government officials helped bankers inflate the toxic-mortgage-backed housing bubble, then after the burst ignored the plight of millions of homeowners suddenly facing foreclosure. Focusing new light on the similarities between the Savings and Loan debacle of the 1980s and the Financial Crisis in 2008, Taub reveals that in both cases the same reckless banks, operating under different names, received government bailouts while the same lax regulators overlooked fraud and abuse. Furthermore, in 2013 the situation is essentially unchanged. The author asserts that the 2008 Crisis was not just similar to the S&L scandal, it was a severe relapse of the same underlying disease. And despite modest regulatory reforms, the disease remains uncured: top banks remain too big to manage, too big to regulate, and too big to fail.

  • 129.00 lei

    Vito Tanzi offers a truly comprehensive treatment of the economic role of the state in the twentieth and twenty-first centuries from a historical and world perspective. The book addresses the fundamental question of what governments should do, or have attempted to do, in economic activities in past and recent periods. It also speculates on what they are likely or may be forced to do in future years. The investigation assembles a large set of statistical information that should prove useful to policy-makers and scholars in the perennial discussion of government's optimal economic roles. It will become an essential reference work on the analytical borders between the market and the state, and on what a reasonable 'exit strategy' from the current fiscal crises should be.

  • 129.00 lei

    William Cunningham (1849–1919) was a prominent British economist and economic historian. In this book, which was first published in 1906, Cunningham provides a discussion of the limits of free trade imperialism, taking issue with the economic and political theories of Richard Haldane, John St Loe Strachey and Lord Rosebery. The text was based upon a series of lectures delivered during 1906 in Cambridge, Edinburgh and Glasgow. Detailed notes are incorporated throughout and appendices are also included. This book will be of value to anyone with an interest in economic history and the development of free trade.

  • The Progress of Capitalism in England
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    129.00 lei

    William Cunningham (1849–1919) was a prominent British economist and economic historian. Originally published in 1916, this book presents the content of a series of lectures that were delivered by Cunningham at the London School of Economics and Political Science during the spring of 1915. The text provides a concise study regarding the development of capitalism in Britain and the nature of economic history more broadly. A bibliography is also included. This book will be of value to anyone with an interest in economics, the development of capitalism and British history.

  • 129.00 lei

    Originally published in 1918, this book presents the content of the W. Stanley Jevons lectures for that year, which were delivered by William Robert Scott at University College, London. Written in the context of the First World War, the text presents an analysis of the relationship between economics and post-war peace, attempting to formulate the general economic conditions involved in the cessation of warfare. This book will be of value to anyone with an interest in the relationship between economics, infrastructure and war.

  • 129.00 lei

    To what extent should anybody who has to make model forecasts generated from detailed data analysis adjust their forecasts based on their own intuition? In this book, Philip Hans Franses, one of Europe's leading econometricians, presents the notion that many publicly available forecasts have experienced an 'expert's touch', and questions whether this type of intervention is useful and if a lighter adjustment would be more beneficial. Covering an extensive research area, this accessible book brings together current theoretical insights and new empirical results to examine expert adjustment from an econometric perspective. The author's analysis is based on a range of real forecasts and the datasets upon which the forecasters relied. The various motivations behind experts' modifications are considered, and guidelines for creating more useful and reliable adjusted forecasts are suggested. This book will appeal to academics and practitioners with an interest in forecasting methodology.

  • 129.00 lei

    Originally published in 1917, this book presents the content of the W. Stanley Jevons lectures for that year, which were delivered by William Robert Scott at University College, London. Written in the context of the First World War, the text presents an analysis of the relationship between economics and post-war peace, attempting to formulate the general economic conditions involved in the cessation of warfare. This book will be of value to anyone with an interest in the relationship between economics, infrastructure and war.

  • The Traveller and The Deserted Village
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    129.00 lei

    Originally published in 1906 as part of the Pitt Press Series, and intended for use in schools, this book contains the text of two of Oliver Goldsmith's longer poems, 'The Traveller' and 'The Deserted Village', which was dedicated to Sir Joshua Reynolds. Murison includes a brief biography of Goldsmith, as well as chronological tables of his life and works and detailed notes on the poem. This book will be of value to anyone with an interest in Goldsmith or in eighteenth-century literature.

  • 137.00 lei

    This book re-examines early twentieth-century British welfare economics in the context of the emergence of the welfare state. There are fresh views of the well-known Cambridge School of Sidgwick, Marshall, Pigou, and Keynes, by Peter Groenewegen, Steven G. Medema, and Martin Daunton. This is placed against a less well-known Oxford approach to welfare: Yuichi Shionoya explores its foundations in the idealist philosophy of T. H. Green; Roger E. Backhouse considers the work of its leading exponent, J. A. Hobson; and Tamotsu Nishizawa discusses the spread of this approach in Britain. Finally, the book covers welfare economics in the policy arena: Maria Cristina Marcuzzo and Atsushi Komine discuss Keynes and Beveridge, and Richard Toye points to the possible influence of H. G. Wells on Churchill and Lloyd George. A substantial introduction frames the discussion, and a postscript relates these ideas to the work of Robbins and subsequent developments in welfare economics.

  • 137.00 lei

    This is the first full account of how an influential form of commercial organization - the multinational enterprise - drove globalization and contributed to the making of the modern world. Robert Fitzgerald explores the major role of multinational enterprises in the events of world history, from the nineteenth century to the present, revealing how the growth of businesses that operated across borders contributed to an unprecedented worldwide transformation and deepening interdependence between countries. He demonstrates how international businesses shaped the economic development and competitiveness of nations, their politics and sovereignty, and the balance of power in international relations. The Rise of the Global Company uses the lessons of history to question prominent contemporary interpretations of multinationals and their consequences, and offers a truly wide-ranging survey of multinational enterprise, spanning two hundred years and five continents.

  • The Rise and Decline of the Free Trade Movement
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    137.00 lei

    William Cunningham (1849–1919) was a prominent British economist and economic historian. In this book, which was first published in 1905 as the second edition of a 1904 original, Cunningham presents a historical discussion of the free trade movement and its limitations in the light of contemporary economic developments. Profiles of Adam Smith and Richard Cobden are included, together with detailed notes, which are incorporated throughout. The text was based upon a series of lectures delivered at Cambridge University during the Michaelmas Term of 1903. It will be of value to anyone with an interest in economic history and perspectives on free trade.

  • 144.00 lei

    Democracy and its Elected Enemies reveals that American politicians have usurped their constitutional authority, substituting their economic and political sovereignty for the people's. This has been accomplished by creating an enormous public service sector operating in the material interest of politicians themselves and of their big business and big social advocacy confederates to the detriment of workers, the middle class and the non-political rich, jeopardizing the nation's security in the process. Steven Rosefielde and Daniel Quinn Mills contend that this usurpation is the source of America's economic decline and fading international power, and provide an action plan for restoring 'true' democracy in which politicians only provide the services people vote for within the civil and property rights protections set forth in the constitution.

  • 144.00 lei

    In the ongoing financial crisis, policy makers have for the most part appeared to be reactive, formulating emergency solutions as events unfold. However, in contrast to their performance during the Great Depression, central banks around the world, led by the Federal Reserve, acted decisively following the collapse of Lehman Brothers and provided huge injections of liquidity into the financial markets, thereby preventing a far worse outcome. International Liquidity and the Financial Crisis compares the 2008 crisis with the disaster of 1931 and explores the similarities and differences. It considers the lasting effects of the crisis on international liquidity, the possibilities for an international lender of last resort, and the enlargement of the International Monetary Fund after the crisis. It shows that there is no clear demarcation between monetary and macro-prudential policies, and discusses how central banks need to adapt to a new environment in which global liquidity is much scarcer.

  • 144.00 lei

    Concern about the role and the limits of modeling has heightened after repeated questions were raised regarding the dependability and suitability of the models that were used in the run-up to the 2008 financial crash. In this book, Lawrence Boland provides an overview of the practices of and the problems faced by model builders to explain the nature of models, the modeling process, and the possibility for and nature of their testing. In a reflective manner, the author raises serious questions about the assumptions and judgments that model builders make in constructing models. In making his case, he examines the traditional microeconomics-macroeconomics separation with regard to how theoretical models are built and used and how they interact, paying particular attention to the use of equilibrium concepts in macroeconomic models and game theory and to the challenges involved in building empirical models, testing models, and using models to test theoretical explanations.

  • Friendly Societies
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    144.00 lei

    Originally published in 1933, in partnership with the Institute of Actuaries Students' Society, this book was written to provide actuarial students with an introduction to the operations of friendly societies. The text is highly accessible, avoiding references to external sources in favour of a more interconnected account of the subject. A concise bibliography is also included. This book will be of value to anyone with an interest in the history of friendly societies.

  • Learning, Policy Making, and Market Reforms
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    144.00 lei

    In the 1980s and 1990s, market reforms swept the world. It is widely believed that the reformist wave can be partly explained in terms of the lessons learned from policy failures of the past. Whereas this interpretation of events is well established, it has never been empirically proved. Learning, Policy Making, and Market Reforms is the first study that tests the impact of policy learning on economic policy choices across time and space. The study supports the popular explanation that, on average, governments around the world adopted privatization and trade liberalization, and sustained open capital accounts, as a result of learning from the experience of others.

  • 144.00 lei

    Environmental Markets explains the prospects of using markets to improve environmental quality and resource conservation. No other book focuses on a property rights approach using environmental markets to solve environmental problems. This book compares standard approaches to these problems using governmental management, regulation, taxation, and subsidization with a market-based property rights approach. This approach is applied to land, water, wildlife, fisheries, and air and is compared to governmental solutions. The book concludes by discussing tougher environmental problems such as ocean fisheries and the global atmosphere, emphasizing that neither governmental nor market solutions are a panacea.

  • 144.00 lei

    Based on newly available and extensive archival evidence, this book traces the history of international news agencies and associations around the world from 1848 to 1947. Jonathan Silberstein-Loeb argues that newspaper publishers formed news associations and patronized news agencies to cut the costs of news collection and exclude competitors from gaining access to the news. In this way, cooperation facilitated the distribution of news. The extent to which state regulation permitted cooperation, or prohibited exclusivity, determined the benefit newspaper publishers derived from these organizations. This book revises our understanding of the operation and organization of the Associated Press, the BBC, the Press Association, Reuters, and the United Press. It also sheds light on the history of competition policy respecting the press, intellectual property, and the regulation of telecommunications.

  • 144.00 lei

    Fertility choices depend not only on the surrounding culture but also on economic incentives, which have important consequences for inequality, education and sustainability. This book outlines parallels between demographic development and economic outcomes, explaining how fertility, growth and inequality are related. It provides a set of general equilibrium models where households choose their number of children, analysed in four domains. First, inequality is particularly damaging for growth as human capital is kept low by the mass of grown-up children stemming from poor families. Second, the cost of education can be an important determining factor on fertility. Third, fertility is sometimes viewed as a strategic variable in the power struggle between different cultural, ethnic and religious groups. Finally, fertility might be affected by policies targeted at other objectives. Incorporating new findings with the discussion of education policy and sustainability, this book is a significant addition to the literature on growth.

  • 144.00 lei

    Can the lessons of the past help us to prevent another banking collapse in the future? This is the first book to tell the story of the rise and fall of British banking stability over the past two centuries, shedding new light on why banking systems crash and on the factors underpinning banking stability. John Turner shows that there have only been two major banking crises in Britain during this time - the crises of 1825–6 and 2007–8. Although there were episodic bouts of instability in the interim, the banking system was crisis free. Why was the British banking system stable for such a long time? And, why did the British banking system implode in 2008? In answering these questions, the book explores the long-run evolution of bank regulation, the role of the Bank of England, bank rescues and the need to hold shareholders to account.

  • 144.00 lei

    This book analyzes Chile's political economy over the last 30 years and the country's attempt to build a market society in a highly inegalitarian society, now as a member country of the Organization for Economic Cooperation and Development (OECD). The investigation provides a historical background of Chilean economy and society and discusses the cultural underpinnings of the imposition of free markets, the macroeconomic and growth performance of the 1990s and 2000s and the social record of privatization of education, health and social security. The treatment documents the growing concentration of economic power among small groups of elites in Chile and discusses the limits of the democratic system built after the departure of the Pinochet regime.

  • 146.00 lei

    Fiction, including novels, plays, and films, can be a powerful force in educating students and employees in ways that lectures, textbooks, articles, case studies, and other traditional teaching approaches cannot. Works of fiction can address a range of issues and topics, provide detailed real-life descriptions of the organizational contexts in which workers find themselves, and tell interesting, engaging, and memorable stories that are richer and more likely to stay with the reader or viewer longer than lectures and other teaching approaches. For these reasons, Exploring Capitalist Fiction: Business through Literature and Film analyzes 25 films, novels, and plays that engage the theories, concepts, and issues most relevant to the business world. Through critical examinations of works such as Atlas Shrugged and Wall Street, Younkins shows how fiction is a powerful teaching tool to sensitize business students without business experience and to educate and train managers in real businesses.

  • 151.00 lei

    The control of competition is designed, at best, to reconcile socioeconomic stability with innovation, and at worst, to keep competitors out of the market. In this respect, the nineteenth century was no more liberal than the eighteenth century. Even during the presumed liberal nineteenth century, legal regulation played a major role in the economy, and the industrial revolution was based on market institutions and organisations formed during the second half of the seventeenth century. If indeed there is a break in the history of capitalism, it should be situated at the turn of the nineteenth and twentieth centuries, with the irruption of mass production, consumption and the welfare state, which introduced new forms of regulation. This book provides a new intellectual, economic and legal history of capitalism from the eighteenth century to the early twentieth century. It analyzes the interaction between economic practices and legal constructions in France and compares the French case with other Western countries during this period, such as the United Kingdom, the United States, Germany and Italy.

  • 151.00 lei

    Post-unification Italy was part of a wider world within which men and money circulated freely; it developed to the extent that those mobile resources chose to locate on its soil. The economy's cyclical movements reflected conditions in international financial markets, and were little affected by domestic policies. State intervention restricted the internal and international mobility of goods, and limited Italy's development: it kept the economy weak, reduced Italy's weight in the comity of nations, and paved the way for the frustrations and adventurism that would plunge the twentieth century into world war.

  • Global War for Internet Governance.
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    153.00 lei

    The Internet has transformed the manner in which information is exchanged and business is conducted, arguably more than any other communication development in the past century. Despite its wide reach and powerful global influence, it is a medium uncontrolled by any one centralized system, organization, or governing body, a reality that has given rise to all manner of free-speech issues and cybersecurity concerns. The conflicts surrounding Internet governance are the new spaces where political and economic power is unfolding in the twenty-first century. This all-important study by Laura DeNardis reveals the inner power structure already in place within the architectures and institutions of Internet governance. It provides a theoretical framework for Internet governance that takes into account the privatization of global power as well as the role of sovereign nations and international treaties. In addition, DeNardis explores what is at stake in open global controversies and stresses the responsibility of the public to actively engage in these debates, because Internet governance will ultimately determine Internet freedom.

  • Commodity Price Dynamics: A Structural Approach
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    158.00 lei

    Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.

  • 158.00 lei

    At the turn of the twentieth century, the US system of public finance underwent a dramatic transformation. The late nineteenth-century regime of indirect, hidden, partisan, and regressive taxes was eclipsed in the early twentieth century by a direct, transparent, professionally administered, and progressive tax system. This book uncovers the contested roots and paradoxical consequences of this fundamental shift in American tax law and policy. It argues that the move toward a regime of direct and graduated taxation marked the emergence of a new fiscal polity - a new form of statecraft that was guided not simply by the functional need for greater revenue but by broader social concerns about economic justice, civic identity, bureaucratic capacity, and public power. Between the end of Reconstruction and the onset of the Great Depression, the intellectual, legal, and administrative foundations of the modern fiscal state first took shape. This book explains how and why this new fiscal polity came to be.

  • 158.00 lei

    The United States will confront a series of fundamental challenges through the middle of the twenty-first century. Using a theory of economic systems to gauge present and future global conflicts, Steven Rosefielde and D. Quinn Mills see the challenges as posed sequentially by terrorism, Russia, China, and the European Union. In the cases of terrorism, Russia, and China, Western leaders appreciate aspects of these perils, but they are crafting unduly soft policies to deal with the challenges. The authors believe that 'globalists' notwithstanding, such views are myopic in an era where nuclear proliferation has invalidated the concept of mutually assured destruction. What America requires is a new security concept that the authors call 'strategic independence' to enable keeping the peace in dangerous times and foster new generations of leaders capable of acting sanely despite a current public culture addicted to wishful thinking.

  • 158.00 lei

    Since publication of Hetzel's The Monetary Policy of the Federal Reserve (Cambridge University Press, 2008), the intellectual consensus that had characterized macroeconomics has disappeared. That consensus emphasized efficient markets, rational expectations and the efficacy of the price system in assuring macroeconomic stability. The 2008–9 recession not only destroyed the professional consensus about the kinds of models required to understand cyclical fluctuations but also revived the credit-cycle or asset-bubble explanations of recession that dominated thinking in the nineteenth century and the first half of the twentieth century. These 'market-disorder' views emphasize excessive risk taking in financial markets and the need for government regulation. The present book argues for the alternative 'monetary-disorder' view of recessions. A review of cyclical instability over the last two centuries places the 2008–9 recession in the monetary-disorder tradition, which focuses on the monetary instability created by central banks rather than on a boom-bust cycle in financial markets.

  • Commodity Markets and the Global Economy
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    158.00 lei

    In an era defined by financial upheaval, few parts of the economy have witnessed the kind of volatility seen in commodities markets. In this book, Blake Clayton, a Wall Street analyst and adjunct fellow at the Council on Foreign Relations, draws on the latest thinking from academia and the private sector to deliver a clear-eyed analysis of pressing questions at the intersection of commodity markets, natural resource economics, and public policy. The result is a work that challenges the conventional wisdom about how these markets function and provides a fresh perspective on what public policy can do to improve them.

  • 158.00 lei

    The sequel to Eminent Economists, this book presents the ideas of some of the most outstanding economists of the past half century. The contributors, representing divergent points of the ideological compass, present their life philosophies and reflect on their conceptions of human nature, society, justice, and the source of creative impulse. These self-portraits reveal details of the economists' personal and professional lives that capture the significance of the total person. The essays represent streams of thought that lead to the vast ocean of economics, where gems of the discipline lie, and the volume will appeal to a wide array of readers, including professional economists, students and laypersons who seek a window into the heart of this complex field. The contributors include Alan S. Blinder, Clair Brown, John Y. Campbell, Vincent P. Crawford, Paul Davidson, Angus Deaton, Harold Demsetz, Peter Diamond, Avinash Dixit, Barry Eichengreen, Jeffrey Frankel, Richard B. Freeman, Benjamin M. Friedman and John Hull.

  • Adam Smith's Wealth of Nations: A Reader's Guide
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    158.00 lei

    Adam Smith's The Wealth of Nations is regarded by many as the most important text in the history of economics. Jerry Evensky's analysis of this landmark book walks the reader through the five 'Books' of The Wealth of Nations, analyzing Smith's terms and assumptions and how they are developed into statements about economic processes in Book I, his representation of the dynamics of economics systems in Book II, and his empirical case for his model in Book III. With that framework in place, Evensky examines Smith's critique of alternative models, mercantilism and physiocracy, in Book IV, and Smith's presentation of the policy implications of his analysis presented in Book V. This guide highlights the nexus of Smith's economics and his work on ethics and jurisprudence, and in doing so Evensky sets his examination of The Wealth of Nations into a larger, holistic analysis of Smith's moral philosophy.

  • 158.00 lei

    The essays in this volume discuss worldwide economic integration between 1850 and 1930, challenging the popular description of the period after 1918 as one of mere deglobalisation. The authors argue that markets were not only places of material exchange, but also socially structured entities, shaped by the agency of individual actors and by complex structures of political and economic power. Economic transactions were supported by an array of different institutions, ranging from formalised regulations to informal relations of personal trust. They argue that these networks were strong enough to prosper even during and after World War I, in a political climate often hostile to foreign trade. The Foundations of Worldwide Economic Integration shows that institutionalism altered its shape in the face of circumstances that increasingly challenged international trade. By presenting case studies from various countries, this book offers a fresh perspective on crucial periods of economic globalisation.

  • 158.00 lei

    Originally published in 1910, this book examines the commercial competition between England and Scotland from the accession of James I of England to the Act of Union under Queen Anne in 1707. Keith assesses the ways in which trade affected and was affected by the various political changes in Scotland and England under the Stuart Monarchs and during the Interregnum after the Civil War. This book will be of value to economic historians and anyone with an interest in the history of relations between Scotland and England.

  • 158.00 lei

    Energy plays a central role in shaping our society and infrastructure, making it increasingly important for today's leaders to understand the impact of energy decisions. Discussions about energy often neglect important historical lessons about previous energy transformations and provide inadequate consideration of context - Driven by Demand takes a fresh approach by exploring the emergence of energy systems, outcomes and priorities. It outlines select historical and current events, challenges, and developing energy trends using a range of case studies. Readers will gain foundational knowledge about energy flows and end-uses, helping them to become more conversant about energy outcomes and priorities. This accessible book paves the way for broader discussions about societal resilience, privacy, and security concerns associated with the move towards 'smart' infrastructure. This is a must-read for business executives, policymakers and students working in energy policy, energy management and sustainable business.

  • 158.00 lei

    This study brings to life the community of trans-Atlantic merchants who established strong economic, political and cultural ties between the United States and the city-republic of Bremen, Germany in the nineteenth century. Lars Maischak shows that the success of Bremen's merchants in helping make an industrial-capitalist world market created the conditions of their ultimate undoing: the new economy of industrial capitalism gave rise to democracy and the nation-state, undermining the political and economic power of this mercantile elite. Maischak argues that the experience of Bremen's merchants is representative of the transformation of the role of merchant capital in the first wave of globalization, with implications for our understanding of modern capitalism, in general.

  • 165.00 lei

    This book presents a history of behavioral economics. The recurring theme is that behavioral economics reflects and contributes to a fundamental reorientation of the epistemological foundations upon which economics had been based since the days of Smith, Ricardo, and Mill. With behavioral economics, the discipline has shifted from grounding its theories in generalized characterizations to building theories from behavioral assumptions directly amenable to empirical validation and refutation. The book proceeds chronologically and takes the reader from von Neumann and Morgenstern's axioms of rational behavior, through the incorporation of rational decision theory in psychology in the 1950s–70s, to the creation and rise of behavioral economics in the 1980s and 1990s at the Sloan and Russell Sage Foundations.

  • Introduction to Bayesian Econometrics
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    165.00 lei

    This textbook explains the basic ideas of subjective probability and shows how subjective probabilities must obey the usual rules of probability to ensure coherency. It defines the likelihood function, prior distributions and posterior distributions. It explains how posterior distributions are the basis for inference and explores their basic properties. Various methods of specifying prior distributions are considered, with special emphasis on subject-matter considerations and exchange ability. The regression model is examined to show how analytical methods may fail in the derivation of marginal posterior distributions. The remainder of the book is concerned with applications of the theory to important models that are used in economics, political science, biostatistics and other applied fields. New to the second edition is a chapter on semiparametric regression and new sections on the ordinal probit, item response, factor analysis, ARCH-GARCH and stochastic volatility models. The new edition also emphasizes the R programming language.

  • 165.00 lei

    This book documents poverty systematically for the world's indigenous peoples in developing regions in Asia, Africa and Latin America. The volume compiles results for roughly 85 percent of the world's indigenous peoples. It draws on nationally representative data to compare trends in countries' poverty rates and other social indicators with those for indigenous sub-populations and provides comparable data for a wide range of countries all over the world. It estimates global poverty numbers and analyzes other important development indicators, such as schooling, health and social protection. Provocatively, the results show a marked difference in results across regions, with rapid poverty reduction among indigenous (and non-indigenous) populations in Asia contrasting with relative stagnation - and in some cases falling back - in Latin America and Africa.

  • 165.00 lei

    Developing countries commonly adopt reforms to improve their governments yet they usually fail to produce more functional and effective governments. Andrews argues that reforms often fail to make governments better because they are introduced as signals to gain short-term support. These signals introduce unrealistic best practices that do not fit developing country contexts and are not considered relevant by implementing agents. The result is a set of new forms that do not function. However, there are realistic solutions emerging from institutional reforms in some developing countries. Lessons from these experiences suggest that reform limits, although challenging to adopt, can be overcome by focusing change on problem solving through an incremental process that involves multiple agents.

  • 165.00 lei

    The present global monetary regime is based on floating among the major advanced countries. A key underlying factor behind the present regime is credibility to maintain stable monetary policies. The origin of credibility in monetary regimes goes back to the pre-1914 classical gold standard. In that regime, adherence by central banks to the rule of convertibility of national currencies in terms of a fixed weight of gold provided a nominal anchor to the price level. Between 1914 and the present several monetary regimes gradually moved away from gold, with varying success in maintaining price stability and credibility. In this book, the editors present ten studies combining historical narrative with econometrics that analyze the role of credibility in four monetary regimes, from the gold standard to the present managed float.

  • 165.00 lei

    This ambitious book looks 'behind the model' to reveal how economists use formal models to generate insights into the economy. Drawing on recent work in the philosophy of science and economic methodology, the book presents a novel framework for understanding the logic of economic modeling. It also reveals the ways in which economic models can mislead rather than illuminate. Importantly, the book goes beyond purely negative critique, proposing a concrete program of methodological reform to better equip economists to detect potential mismatches between their models and the targets of their inquiry. Ranging across economics, philosophy, and social science methods, and drawing on a variety of examples, including the recent financial crisis, Behind the Model will be of interest to anyone who has wondered how economics works - and why it sometimes fails so spectacularly.

  • 165.00 lei

    This book examines the use, principally in economics, of the concept of the invisible hand, centering on Adam Smith. It interprets the concept as ideology, knowledge, and a linguistic phenomenon. It shows how the principal Chicago School interpretation misperceives and distorts what Smith believed on the economic role of government. The essays further show how Smith was silent as to his intended meaning, using the term to set minds at rest; how the claim that the invisible hand is the foundational concept of economics is repudiated by numerous leading economic theorists; that several dozen identities given the invisible hand renders the term ambiguous and inconclusive; that no such thing as an invisible hand exists; and that calling something an invisible hand adds nothing to knowledge. Finally, the essays show that the leading doctrines purporting to claim an invisible hand for the case for capitalism cannot invoke the term but that other nonnormative invisible hand processes are still useful tools.

  • 165.00 lei

    Recognising that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments. The complexity modeling paradigm has been strongly advocated since the late 1980s by some economists and by multidisciplinary scientists from various fields, such as physics, computer science and biology. More recently the complexity view has also drawn the attention of policy makers, who are faced with complex phenomena, irregular fluctuations and sudden, unpredictable market transitions. The complexity tools - bifurcations, chaos, multiple equilibria - discussed in this book will help students, researchers and policy makers to build more realistic behavioral models with heterogeneous expectations to describe financial market movements and macro-economic fluctuations, in order to better manage crises in a complex global economy.

  • 165.00 lei

    This book tells the story of the search for disequilibrium micro-foundations for macroeconomic theory, from the disequilibrium theories of Patinkin, Clower and Leijonhufvud to recent dynamic stochastic general equilibrium models with imperfect competition. Placing this search against the background of wider developments in macroeconomics, the authors contend that this was never a single research program, but involved economists with very different aims who developed the basic ideas about quantity constraints, spillover effects and coordination failures in different ways. The authors contrast this with the equilibrium, market-clearing approach of Phelps and Lucas, arguing that equilibrium theories simply assumed away the problems that had motivated the disequilibrium literature. Although market-clearing models came to dominate macroeconomics, disequilibrium theories never went away and continue to exert an important influence on the subject. Although this book focuses on one strand in modern macroeconomics, it is crucial to understanding the origins of modern macroeconomic theory.

  • 165.00 lei

    The IMF's response to the global crisis of 2008–9 marked a significant change from its past policies. The Fund provided relatively large amounts of credit quickly with limited conditions and accepted the use of capital controls. This book traces the evolution of the IMF's actions to promote international financial stability from the Bretton Woods era through the most recent crisis. The analysis includes an examination of the IMF's crisis management activities during the debt crisis of the 1980s, the upheavals in emerging markets in the 1990s and early 2000s, and the ongoing European crisis. The dominant influence of the United States and other advanced economies in the governance of the IMF is also described, and the replacement of the G7 nations by the more inclusive G20, which have promised to give the IMF a role in their mutual assessment of policies while undertaking reforms of the IMF's governance.

  • 165.00 lei

    What is freedom? Can we measure it? Does it affect policy? This book develops an original measure of freedom called 'Autonomy Freedom', consistent with J. S. Mill's view of autonomy, and applies it to issues in policy and political design. The work pursues three aims. First, it extends classical liberalism beyond exclusive reliance on negative freedom so as to take autonomous behavior explicitly into account. Second, it grounds on firm conceptual foundations a new standard in the measurement of freedom that can be fruitfully coupled with existing gauges. Third, it shows empirically that individual preferences for redistribution and cross-country differences in welfare spending in Organisation for Economic Co-operation and Development (OECD) countries are driven by the degree of 'autonomy freedom' that individuals enjoy. By means of an interdisciplinary approach and a sophisticated econometric methodology, the book takes an explicit stand in defense of freedom and sets the basis for a liberalism based upon people's actions and institutions.

  • 165.00 lei

    This book provides a detailed historical description of the evolution of corporate governance and stock markets in Brazil in the late nineteenth and twentieth centuries. The analysis details the practices of corporate governance, in particular the rights that shareholders have to restrict the actions of managers, and how that shaped different approaches to corporate finance over time. In the case of Brazil, even if the protections for investors included in national laws were relatively weak before 1940, corporate charters contained a series of provisions that protected minority shareholders against the abuses of large shareholders, managers, or other corporate insiders. The investigation uses the Brazilian case to challenge some of the key findings of a recent literature that argues that legal systems (e.g., common vs. civil law) shape the extent of development of stock and bond markets in different nations.

  • The Economics of Ancient Greece
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    165.00 lei

    Originally published in 1940, this book provides an overview of the economy of ancient Greece, with a particular focus on the economy of Athens and its eventual empire. Michell uses literary and epigraphic evidence to detail the main types of revenue generation prevalent in mainland Greece and the Greek islands, such as mining and foreign trade, and provides an introduction discussing the impact of other factors on the Greek economy, including infanticide and Greek economic thought. This book will be of value to anyone with an interest in ancient economics and money-making in ancient Greece.

  • 173.00 lei

    The United Nations declared 2012 the year of cooperatives, emphasizing that there is an alternative to privately owned firms. While greed and mismanagement have caused world financial and economic crises, co-ops offer another type of business for economic activities that is less exposed to aggressive capitalism. This book provides a problem-oriented overview of the development of cooperatives over the last fifty years. The global study addresses the major challenges cooperatives face, such as the organizational innovations introduced to acquire necessary risk-capital and implement growth-related strategies, the wave of demutualization in developed nations and their ability to construct an original consumer politics. The contributors to this volume discuss the successes and failures of the cooperatives and ask whether they are an outdated model of enterprise. They document a wave of foundations of new co-ops, new forms of collaboration between them and a growing trend toward globalization.

  • 173.00 lei

    There is growing consensus in the development economics literature that ethnic diversity is a very significant factor in explaining Africa's poor economic performance. Ethnic Diversity and Economic Instability in Africa challenges this conventional wisdom. Drawing on the insights of historians, anthropologists and political scientists as well as development economists, this book questions whether ethnicity is the most useful organising principle by which to examine the economic development of Africa, arguing that it is a more fluid and contingent concept than economic models allow. Instead, the authors explore the actual experience of ethnicity in Africa and propose new methods of measuring ethnic diversity and inequalities. Finally some tentative conclusions are reached regarding appropriate policy reforms.

  • 173.00 lei

    Most European countries are rather small, yet we know little about their monetary history. This book analyses for the first time the experience of seven small states (Austria, Belgium, Denmark, The Netherlands, Norway, Sweden, and Switzerland) during the last hundred years, starting with the restoration of the gold standard after World War I and ending with Sweden's rejection of the Euro in 2003. The comparative analysis shows that for the most part of the twentieth century the options of policy makers were seriously constrained by a distinct fear of floating exchange rates. Only with the crisis of the European Monetary System (EMS) in 1992–3 did the idea that a flexible exchange rate regime was suited for a small open economy gain currency. The book also analyses the differences among small states and concludes that economic structures or foreign policy orientations were far more important for the timing of regime changes than domestic institutions and policies.

  • 173.00 lei

    Do marijuana users cut back on consumption when the price rises? To what degree is marijuana consumption related to drinking and tobacco usage? What would happen if marijuana were legalised and taxed in the same way as alcohol and tobacco? Is marijuana priced in a similar way to other goods? Economics and Marijuana deals with these and other questions by drawing on a rich set of data concerning the consumption and pricing of marijuana in Australia, a country where the drug has been decriminalised in some, but not all, states. The book applies the economic approach to drugs to analyse consumption, pricing and the economics of legalising the use of marijuana. The result is a fascinating analysis of this widely used, but little understood illicit drug that provides much needed information and policy advice for a wide range of readers, including economists, policy makers and health professionals.

  • 173.00 lei

    Two decades of federal and state-level demonstration projects and experiments concerning cash welfare in the United States culminated with the passage of the Personal Responsibility and Work Opportunity Reconciliation Act of 1996, better known as welfare reform. Ten years after reform there remain a host of unanswered questions on the well-being of low-income families. In Welfare Reform and its Long Term Consequences for America's Poor, many of the nation's leading poverty experts address these and related outcomes to assess the longer-term effects of welfare reform. A diverse array of survey and administrative data are brought to bear to examine the effects of welfare reform and the concomitant expansions of the Earned Income Tax Credit on the level and distribution of income, the composition of consumption, employment, public versus private health insurance coverage, health and education outcomes of children, marriage, and social service delivery.

  • 173.00 lei

    Governments typically build and maintain public infrastructure, which they fund through taxes. But in the past twenty-five years, many developing and advanced economies have introduced public-private partnerships (PPPs), which bundle finance, construction, and operation into a long-term contract with a private firm. In this book, the authors provide a summary of what, they believe, are the main lessons learned from the interplay of experience and the academic literature on PPPs, addressing such key issues as when governments should choose a PPP instead of a conventional provision, how PPPs should be implemented, and the appropriate governance structures for PPPs. The authors argue that the fiscal impact of PPPs is similar to that of conventional provisions and that they do not liberate public funds. The case for PPPs rests on efficiency gains and service improvements, which often prove elusive. Indeed, pervasive renegotiations, faulty fiscal accounting, and poor governance threaten the PPP model.

  • The Service Sector in India's Development
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    173.00 lei

    A striking aspect of India's recent growth has been the dynamism of its services sector. In 2010, it accounted for 57 percent of the country's GDP and 25 percent of its total employment. The results do not conform to the growth experience of currently industrialized countries or other developing economies. Is the increasing share of the service sector in India's total output simply notional, as several activities that were earlier classified in the industrial sector are now subsumed in services' value added, or because the relative price of services has increased over time? No. The sector's growth is real - it is linked to household final demand, policy reforms and increased service exports. Is this service-led growth process sustainable? That remains an open question because the service sector is highly heterogeneous, ranging from software services and business process outsourcing to wholesale and retail trade and personal services. These subsectors vary considerably in the context of different economic characteristics that are important for development.

  • 173.00 lei

    This book provides a contextual study of the development of Alfred Marshall's thinking during the early years of his apprenticeship in the Cambridge moral sciences. Marshall's thought is situated in a crisis of academic liberal thinking that occurred in the late 1860s. His crisis of faith is shown to have formed part of his wider philosophical development, which saw him supplementing Anglican thought and mechanistic psychology with Hegel's Philosophy of History. This philosophical background informed Marshall's early reformulation of value theory and his subsequent wide-ranging reinterpretation of political economy as a whole. The book concludes with the suggestion that Marshall's mature economic science was conceived by him as but one part of a wider, neo-Hegelian, social philosophy.

  • 173.00 lei

    William Marshall (1745–1818), from farming stock, became a farmer and then estate manager and land agent after several years spent conducting business in the West Indies. A pioneer of scientific methods of farming, he published widely on best practice, and was also known for his geographical surveys of agriculture. This two-volume 1789 work covers the county of Gloucestershire, but also includes dairy management in north Wiltshire and the orchards and fruit products of Herefordshire. A hands-on reporter, Marshall stayed in the vale of Gloucester to learn the art of cheese-making, and then spent a year in various locations studying local farming practice. Volume 1 describes the rural economy of the area, with the different activities suited to the different geographical locations and soil types, giving information on the types of land tenure, crops and animals, and providing a list of 'provincialisms' which offer fascinating insights into the Gloucestershire dialect.

  • 173.00 lei

    This book rejects the commonly encountered perception of Friedrich Engels as perpetuator of a 'tragic deception' of Marx, and the equally persistent body of opinion treating him as 'his master's voice'. Engels' claim to recognition is reinforced by an exceptional contribution in the 1840s to the very foundations of the Marxian enterprise, a contribution entailing not only the 'vision' but some of the building blocks in the working out of that vision. Subsequently, he proved himself to be a sophisticated interpreter of the doctrine of historical materialism and an important contributor in his own right. This volume serves as a companion to Samuel Hollander's The Economics of Karl Marx (Cambridge University Press, 2008).

  • War Economics of Primary Producing Countries
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    173.00 lei

    Originally published in 1948, this book investigates the general economic problems of non-European primary economies during the Second World War. Prest examines how India, the Middle East, Nigeria and Trinidad contributed to the war effort and the principal reactions to their contribution, whether of workers, commodities, equipment or reductions in civilian consumption. This book will be of value to anyone with an interest in the overlap between war and economics and the role played by non-European countries in aiding the European war effort.

  • Monetary Policy in Low-Inflation Economies
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    173.00 lei

    All central banks manage the supply of money and credit in their countries, increasing and decreasing them as needed to provide what economies need to keep growing. The way central banks typically handle that job involves short-term interest rates. But when inflation is low, central banks can't use their usual methods to get money and credit into an economy that needs it. Several essays in this volume describe the work of economists who have investigated problems that central banks might have when inflation gets low. Other essays investigate related questions such as whether an economy suffers when it moves from high inflation to low inflation, what the costs of inflation are to economic welfare, and whether a little bit of inflation can actually be good for economic growth.

  • 180.00 lei

    This is a definitive new account of Britain's economic evolution from a backwater of Europe in 1270 to the hub of the global economy in 1870. A team of leading economic historians reconstruct Britain's national accounts for the first time right back into the thirteenth century to show what really happened quantitatively during the centuries leading up to the Industrial Revolution. Contrary to traditional views of the earlier period as one of Malthusian stagnation, they reveal how the transition to modern economic growth built on the earlier foundations of a persistent upward trend in GDP per capita which doubled between 1270 and 1700. Featuring comprehensive estimates of population, land use, agricultural production, industrial and service-sector production and GDP per capita, as well as analysis of their implications, this will be an essential reference for anyone interested in British economic history and the origins of modern economic growth more generally.

  • 180.00 lei

    The Endurance of Family Businesses is a collection of essays offering an overview of the importance and resilience of family-controlled large businesses. Much of economic and business history research neglects family businesses, considering them an inefficient form of business organization. These essays discuss the strengths of family businesses: the ways family firms have managed, financed and governed their corporations, as well as the way in which they structure their relationship with the external environment, from the government to the company's stakeholders. Family businesses have learned new ways of organizing their resources and using their accumulated know-how for new markets and institutional environments. This volume combines the expertise of well-known scholars who specialize in business history, economic history, management and consulting, to provide an interdisciplinary perspective on family businesses. Contributors provide a global view by taking into account Asian, American and European experiences.

  • 180.00 lei

    Ernest Solvay, philanthropist and organizer of the world-famous Solvay conferences on physics, discovered a profitable way of making soda ash in 1861. Together with a handful of associates, he laid the foundations of the Solvay company, which successfully branched out into other chemicals, plastics and pharmaceuticals. Since its emergence in 1863, Solvay has maintained world leadership in the production of soda ash. This is the first scholarly book on the history of the Solvay company, which was one of the earliest chemical multinationals and today is among the world's twenty largest chemical companies. It is also one of the largest companies in the field to preserve its family character. The authors analyze the company's 150-year history (1863–2013) from economic, political and social perspectives, showing the enormous impact geopolitical events had on the company and the recent consequences of global competition.

  • 180.00 lei

    Many economic theories depend on the presence or absence of a unit root for their validity, and econometric and statistical theory undergo considerable changes when unit roots are present. Thus, knowledge on unit roots has become so important, necessitating an extensive, compact, and nontechnical book on this subject. This book is rested on this motivation and introduces the literature on unit roots in a comprehensive manner to both empirical and theoretical researchers in economics and other areas. By providing a clear, complete, and critical discussion of unit root literature, In Choi covers a wide range of topics, including uniform confidence interval construction, unit root tests allowing structural breaks, mildly explosive processes, exuberance testing, fractionally integrated processes, seasonal unit roots and panel unit root testing. Extensive, up to date, and readily accessible, this book is a comprehensive reference source on unit roots for both students and applied workers.

  • 180.00 lei

    Focusing on deterministic models in discrete time, this concise yet rigorous textbook provides a clear and systematic introduction to the theory and application of dynamic economic models. It guides students through the most popular model structures and solution concepts, from the simplest dynamic economic models through to complex problems of optimal policy design in dynamic general equilibrium frameworks. Chapters feature theorems and practical hints, and seventy-five worked examples highlight the various methods and results that can be applied in dynamic economic models. Notation and formulation is uniform throughout, so students can easily discern the similarities and differences between various model classes. Chapters include more than sixty exercises for students to self-test their analytical skills, and password-protected solutions are available for instructors on the companion website. Assuming no prior knowledge of dynamic economic analysis or dynamic optimization, this textbook is ideal for advanced students in economics.

  • 180.00 lei

    The essays in this volume are written by leading economists working on the Indian economy. They collectively emphasize the importance of policies and institutions for sustained growth and poverty reduction, stressing that the success of sector-specific policies is vitally dependent on the nature of markets and the functioning of institutions such as those charged with regulating and overseeing critical sectors. Individual contributions assess the role of Indian government policy in key sectors and emphasize the policies required to ensure improvements in these sectors. The first section discusses aspects of the macro economy; the second deals with agriculture and social sectors; the third with jobs and how labor markets function in agriculture, industry and services; and the fourth with infrastructure services, specifically electricity, telecommunications and transport. The essays are drawn from the most influential papers presented in recent years on Indian economic policy at the Stanford Center for International Development.

  • Socialist Planning
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    180.00 lei

    Socialist planning played an enormous role in the economic and political history of the twentieth century. Beginning in the USSR it spread round the world. It influenced economic institutions and economic policy in countries as varied as Bulgaria, USA, China, Japan, India, Poland and France. How did it work? What were its weaknesses and strengths? What is its legacy for the twenty-first century? Now in its third edition, this textbook is fully updated to cover the findings of the period since the collapse of the USSR. It provides an overview of socialist planning, explains the underlying theory and its limitations, looks at its implementation in various sectors of the economy, and places developments in their historical context. A new chapter analyses how planning worked in the defence-industrial complex. This book is an ideal text for undergraduate and graduate students taking courses in comparative economic systems and twentieth-century economic history.

  • 187.00 lei

    The financial crisis of 2007–10 has presented a number of key policy challenges for those concerned with the long-term stability of the euro area. It has shown that price stability as provided by the European Central Bank is not enough to guarantee financial stability, and exposed fault lines in governance and deficiencies in the architecture of the financial supervisory and regulatory framework. This book addresses these and other issues, including why the crisis affected some countries more than others, whether the euro is still attractive for new EU states, and what policy changes and structural reforms, both macro and micro, should be undertaken to ensure its future viability. Written by a team of leading academic and central bank economists, the book also includes chapters on the cross-country incidence of the crisis, the Irish crisis and ECB monetary policy during the crisis, and studies on Spain, the Baltics, Slovakia and Slovenia.

  • 187.00 lei

    By the end of the nineteenth century the global telegraph network had connected all continents and brought distant people into direct communication 'at the speed of thought' for the first time. Roland Wenzlhuemer here examines the links between the development of the telegraph and the paths of globalization, and the ways in which global spaces were transformed by this technological advance. His groundbreaking approach combines cultural studies with social science methodology, including evidence based on historical GIS mapping, to shed new light on both the structural conditions of the global telegraph network and the historical agency of its users. The book reveals what it meant for people to be telegraphically connected or unconnected, how people engaged with the technology, how the use of telegraphy affected communication itself and, ultimately, whether faster communication alone can explain the central role that telegraphy occupied in nineteenth-century globalization.

  • 187.00 lei

    William Marshall (1745–1818), from farming stock, became a farmer and then estate manager and land agent after several years spent conducting business in the West Indies. A pioneer of scientific methods of farming, he published widely on best practice, and was also known for his geographical surveys of agriculture. This two-volume 1789 work covers the county of Gloucestershire, but also includes dairy management in north Wiltshire and the orchards and fruit products of Herefordshire. A hands-on reporter, Marshall stayed in the vale of Gloucester to learn the art of cheese-making, and then spent a year in various locations studying local farming practice. Volume 2 covers the Cotswold Hills and the vale of Berkeley, with detailed descriptions of dairy farming in these areas. A section is devoted to Herefordshire, its orchards, and the manufacturing processes and marketing of its famous 'fruit liquors', cider and perry.

  • 187.00 lei

    There is arguably no award more recognized in the academic and professional worlds than the Nobel Prize. The public pays attention to the prizes in the fields of economics, literature, and peace because their recipients are identified with particular ideas, concepts, or actions that often resonate with or sometimes surprise a global audience. The Nobel Prize in Economic Science established by the Bank of Sweden in 1969 has been granted to 64 individuals. Thomas Karier explores the core ideas of the economic theorists whose work led to their being awarded the Nobel in its first forty years. He also discusses the assumptions and values that underlie their economic theories, revealing different and controversial features of the content and methods of the discipline. The Nobelists include Keynesians, monetarists, financial economists, behaviorists, historians, statisticians, mathematicians, game theorists, and other innovators.

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