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Recommending OUP Latest Collection for Purchase (Bulletin 151a - May 2021): Economics & Finance
A Behavioural Theory of Economic Development by Robert Huggins; Piers Thompson
Publication Date: 2021-03-14
eBook Price: $303.75
Description: Innovation, entrepreneurship, knowledge, and human capital are widely acknowledged as key levers of development. Yet what are the sources of these factors, and why do they differ in their endowment across regions? Motivated by a belief that theories of economic development can move beyond thegenerally accepted explanations of location and the organization of industries and capital, this book establishes a behavioural theory of economic development illustrating that differences in human behaviour across cities and regions are a significant deep-rooted cause of uneven development.Fusing a range of concepts relating to culture, psychology, human agency, institutions, and power, it proposes that the long-term differentials in economic development between cities and regions, both within and across nations, is strongly connected to the underlying forms of behaviour enacted byhumans on an individual and collective basis. Given a world of finite and limited resources, coupled with a rapidly growing population - especially in cities and urban regions - human behaviour, and the expectations and preferences upon which it is based, are central to understanding how notions ofdevelopment may change in coming years. This book provides a novel theory of the role of psychocultural context and human behavioural and institutional frameworks in uneven economic development on a global scale.
Accounting for the Fall of Silver by Michael Schiltz
Publication Date: 2020-12-20
eBook Price: $263.25
Description: The second half of the nineteenth century is correctly known to have culminated in the emergence of the gold standard as the first truly international monetary regime. The processes leading up to this remarkable feat are, however, far less documented or understood. Economic historians haveonly recently started digging into the causes behind the "fall of silver" that preceded the scramble for gold. It is nowadays clear that its effects were felt worldwide. Not in the least, silver depreciation severely affected East-West trade. It was, among other factors, behind the bankruptcy ofseveral powerful institutions as the Oriental Bank Corporation. Yet at the same time, it cemented the position of other banks, some of which exist until this very day (HSBC, Standard Chartered). What did these banks know that others did not?In Accounting for the Fall of Silver, Michael Schiltz explains that the 1870s and 1880s witnessed furious experiments with new financial products and, equally important, strategies for hedging exchange rate risk. Drawing on archives that have never been used before, the book throws new light on animportant episode of nineteenth century world history. At the same time, it illuminates lesser known aspects of the first gold standard period. It draws attention to the existence of "carry trades" between European money markets and the lesser liquid Asian periphery; and describes the creation offinancial contracts with the sole aim of enabling commodity finance among Asian mercantile centers.
Advances in Info-Metrics by Min Chen (Editor); J. Michael Dunn (Editor); Amos Golan (Editor); Aman Ullah (Editor)
Publication Date: 2020-12-14
eBook Price: $328.05
Description: Info-metrics is a framework for modeling, reasoning, and drawing inferences under conditions of noisy and insufficient information. It is an interdisciplinary framework situated at the intersection of information theory, statistical inference, and decision-making under uncertainty.In Advances in Info-Metrics, Min Chen, J. Michael Dunn, Amos Golan, and Aman Ullah bring together a group of thirty experts to expand the study of info-metrics across the sciences and demonstrate how to solve problems using this interdisciplinary framework. Building on the theoretical underpinningsof info-metrics, the volume sheds new light on statistical inference, information, and general problem solving. The book explores the basis of information-theoretic inference and its mathematical and philosophical foundations. It emphasizes the interrelationship between information and inference andincludes explanations of model building, theory creation, estimation, prediction, and decision making. Each of the nineteen chapters provides the necessary tools for using the info-metrics framework to solve a problem. The collection covers recent developments in the field, as well as many newcross-disciplinary case studies and examples.Designed to be accessible for researchers, graduate students, and practitioners across disciplines, this book provides a clear, hands-on experience for readers interested in solving problems when presented with incomplete and imperfect information.
Banking on Failure by Richard S. Collier
Publication Date: 2020-11-03
eBook Price: $263.25
Description: Banks seem all too often involved in cases of misconduct, particularly involving the exploitation of tax systems. Banking on Failure explains why and how banks "game the system", accounting for these misconduct cases and analysing the wider implications for financial markets and tax systems.Banking on Failure: Cum-Ex and Why and How Banks Game the System explains why banks design and use structured products to exploit tax systems. It describes one of the biggest and most complex cases - the "cum-ex" scandal - in which hundreds of banks and funds from across the globe participated inthe raid on the public exchequers of a number of countries, with losses in the tens of billions of euros. The book then draws on the significance of this case study, and what this tells us about modern banks and their interactions with tax systems. Banking on Failure demonstrates why theexploitation of tax systems by banks is an inevitable feature of the financial markets landscape, and suggests possible responses.
Changing Trends in China's Inequality by Ximing Yue (Editor); Hiroshi Sato (Editor); Terry Sicular (Editor); Shi Li (Editor)
Publication Date: 2020-05-05
eBook Price: $259.20
Description: Over the past quarter-century China has seen a dramatic increase in income inequality, prompting a shift in China's development strategy and the adoption of an array of new policies to redistribute income, promote shared growth, and establish a social safety net. Drawing on of household-leveldata from the China Household Income Project, Changing Trends in China's Inequality provides an independent, comprehensive, and empirically grounded study of the evolution of incomes and inequality in China over time. Edited by leading experts on the Chinese economy, the volume analyzes thisevolution in China as a whole as well as in the urban and rural sectors, with close attention to measurement issues and to shifts in the economy, institutions, and public policy. Specific essays provides analyses of China's wealth inequality, the emergence of a new middle class, the income gapbetween the Han majority and the ethnic minorities, the gender wage gap, and the impacts of government policies such as social welfare programs and the minimum wage.
Competitive Agents in Certain and Uncertain Markets by Robert G. Chambers
Publication Date: 2021-05-18
eBook Price: $194.36
Description: For all its elaborate theories and models, economics always reduces to comparisons. Should we build A rather than B? Will I be better off if I eat D rather than C? How much will it cost me to produce F instead of E? At root, the ultimate goal of economics is simple: assessing the alternativesand finding the best possible outcome. This basic mathematical concept underlies all introductions to the field of economics, yet as advanced students progress through the discipline, they often lose track of this foundational idea when presented with real-world complications and uncertainty.In Competitive Agents in Certain and Uncertain Markets, Robert G. Chambers develops an integrated analytic framework for treating consumer, producer, and market equilibrium analyses as special cases of a generic optimization problem. He builds on lessons learned by all beginning students ofeconomics to show how basic concepts can still be applied even in complex and highly uncertain conditions. Drawing from optimization theory, Chambers demonstrates how the same unified mathematical framework applies to both stochastic and non-stochastic decision settings. The book borrows from bothconvex and variational analysis and gives special emphasis to differentiability, conjugacy theory, and Fenchel's Duality Theorem. Throughout, Chambers includes practical examples, problems, and exercises to make abstract material accessible.Bringing together essential theoretical tools for understanding decision-making under uncertainty, Competitive Agents in Certain and Uncertain Markets provides a unified framework for analyzing a broad range of microeconomic decisions. This book will be an invaluable resource for advanced graduatestudents and scholars of microeconomic theory.
Crafting Consensus by Nicole Baerg
Publication Date: 2020-10-12
eBook Price: $194.36
Description: In a world dependent on the constant sharing of information, central bankers increasingly communicate their policies to the mass public. Central bank communications are drafted in monetary policy committee meetings composed of policymakers with differing interests. Despite their differences,committee members must come together, write, and agree to an official policy statement. Once released to the public, central bank communications then affect citizens' actions and ultimately, the economy. But how exactly does this work?In Crafting Consensus, Nicole Baerg explains how the transparency of central bank communication depends on the configuration of committee members' preferences. Baerg argues that monetary policy committees composed of members with differing preferences over inflation are better suited tocommunicating precise information with the public. These diverse committees produce central bank statements of higher quality and less uncertainty than those from more homogeneous committees. Additionally, she argues that higher quality statements more effectively shape individuals' inflationexpectations and move the economy in ways that policymakers intend. Baerg demonstrates that central bankers are not impartial technocrats and that their preferences and the institutional rules where they work matter for understanding the politics of monetary policy and variations in economicperformance over time.Conducting empirical analysis from historical archival data, textual analysis, machine-learning, survey experiments, and cross-sectional time-series data, Crafting Consensus offers a new theory of committee decision making and a battery of empirical tests to provide a rich understanding ofmodern-day central banking.
Developmentalism by Graham Harrison
Publication Date: 2020-08-18
eBook Price: $263.25
Description: Why do so few countries achieve development success? Achieving development requires many changes over a short period of time, generating instability and risk. It is a deep and integrated economy of change involving force, strategic thinking, and ideological conviction - it emerges whensuccessful development is seen as necessary for the survival of a political order. Developmentalism engages with the moral issues that this raises.Developmentalism: The Normative and Transformative within Capitalism uses a historical comparative approach to understand development as a transformation which involves a deep and integrated political economy of change - a shift from a state of "capital-ascendance" to "capital dominance". It is onlythrough a transformation towards capital dominance that mass poverty reduction and the construction of a commonwealth are possible. However, capitalist development is extremely difficult and requires a highly exacting political endeavour. The politics of development is conceptualized asdevelopmentalism: a strategy and ideology in which governments exercise heavy directive power, endure instability and crisis, and secure a rudimentary legitimacy for their efforts. This book argues that developmentalism requires a conflation of successful capitalist transformation with some form ofexistential insecurity of the state itself. It flourishes when capitalist transformation connects to profound questions of sovereignty, statehood, nation-building, and elite survival. Developmentalism shows deep contextualisation of capitalist transformation as well as the massive improvements inmaterial life that it has generated.
Economic Inequality and News Media by Andrea Grisold (Editor); Paschal Preston (Editor)
Publication Date: 2020-09-14
eBook Price: $222.75
Description: Economic inequalities have become increasingly prominent in public debate in the last decade as sluggish economic growth, declining or stagnant incomes, high unemployment, and state policy regimes orientated towards austerity dominate many core capitalist regions, often with extreme turbulencein the political arena. Debate over these issues unfolds in both the public sphere and within the academy, with the conversation developing from two disciplinary areas in particular: economics and political economy, and journalism and communication studies.Economic Inequality and News Media brings these fields together. In this interdisciplinary volume, Andrea Grisold and Paschal Preston build on a unique multi-country research project exploring how news media cover and frame issues of economic inequality. Taking media coverage of Thomas Piketty'sbest-selling Capital in the Twenty-First Century as a case study, this book addresses important blind-spots in the relationship between mainstream media and economics. It interrogates both the failure of economists' to engage with the evolving role of the media as well as journalists' tendency tooverlook key aspects of economic processes and power that are politically relevant and of public interest. Grisold and Preston tackle this disconnect and argue for a multi-disciplinary approach in which they acknowledge the crucial role the mass media plays in creating and disseminating economicinformation. The book explores important questions such as: How do new forms of economic inequality, power, and privilege relate to prevailing theories and conceptualizations of the media? What roles do new trends and forms of economic inequality play in the typical narratives of mediatedcommunication? How do we construct the story of inequality?This eye-opening and transdisciplinary book sheds new light not only on the relation between news media and economic inequality, but also on economic issues more broadly. In an evolving world experiencing the rise of ultra-nationalism, populism, and rampant economic uncertainty, Economic Inequalityand News Media is a crucial investigation of the nuances of economic news media.
Ending Global Poverty by Constantine Michalopoulos
Publication Date: 2020-06-06
eBook Price: $121.50
Description: Ending poverty continues to be a major challenge for the global community. It is as relevant today as it was two decades ago, when four women rose to prominent positions as ministers in charge of international development in their governments. Ending Global Poverty: Four Women's NobleConspiracy tells the story of Eveline Herfkens from the Netherlands, Hilde F. Johnson from Norway, Clare Short from the United Kingdom, and Heidemarie Wieczorek-Zeul from Germany who joined forces to challenge the establishment policies of international institutions.Named for the Norwegian Abbey where the formalized their collaboration in 1999, the so-called Utstein Four embarked on a "conspiracy of implementation", using foreign aid as a tool to end global poverty, rather than pursue narrow political or commercial interests. They helped achieve primaryeducation for women, used developing countries' debt relief to lift individuals out of poverty, and put development partners in charge of setting priorities and implementing programs of assistance. Their story of female empowerment and the importance of working together is a crucial lesson, andEnding Global Poverty focuses on the implications of this for today's development practices, including the struggle to achieve the 2030 Sustainable Development Goals.The Utstein Four's collaboration lasted for only about half a dozen years but their influence continues to be felt. Much has been achieved but some lessons have been forgotten and large challenges remain. Ending Global Poverty: Four Women's Nobel Conspiracy considers the lasting legacy of theUtstein group and the lessons that their experience offers to a new generation of leaders as they work to eradicate global poverty and achieve sustainable development.
Entropy Law, Sustainability, and Third Industrial Revolution by Ramprasad Sengupta
Publication Date: 2020-09-16
eBook Price: $186.26
Description: In mankind's relentless quest for prosperity, Nature has suffered great damage. It has been treated as an inexhaustible reserve of resources. The indefinite scale of global expansion is still continued and now the earth's very survival is under threat. But against this exploitation of nature,there is a concept of Entropy that places a finite limit on the extent to which resources can be used in any closed system, such as our planet. Considering the impact of entropy, this book examines the key issues of sustainability - social, economic, and environmental. It discusses the socialdimension of sustainability, showing how it is impacted by issues of economic inequality, poverty, and other socio-economic and infrastructural factors in the Indian context. It also highlights how Indian households suffer from clean energy poverty and points to the inequality in distribution ofdifferent fuels and of fuel cost among households. It assesses India's power sector and its potential to be a significant player in bringing the third industrial revolution in India by replacing fossil fuels to new renewables. It concludes by projecting power sector scenarios till 2041-42 achievablethrough alternative, realizable policy with respect to energy conservation and fuel substitution, and thus paving the way for the green power.
Farm Income in India by A. Narayanamoorthy
Publication Date: 2021-09-01
eBook Price: $230.85
Description: The Green Revolution resulted in spectacular advancements in Indian agriculture. Having achieved food security for its citizens, the country has now become a net exporter of different agricultural commodities. But sadly, this does not reflect the real state of the Indian agricultural sector.In truth, our farmers are plagued by crop failures, poor income, and indebtedness. Such is their misery that they are of late driven to commit suicide.In this book, the author identifies poor returns from crop cultivation as the root cause of farmers' problems. Using vast temporal and spatial data, the author explores further and attempts to address some very pertinent questions facing Indian agriculture today: What is the current trend in farmincome? Are the returns from irrigated crops better than un-irrigated crops? Does increased productivity guarantee increased income? Has the agricultural price policy benefitted farmers? To what extent does rural infrastructure development help in increasing farm income? Has the rural employmentguarantee scheme affected farm profitability? The answers will help us determine if we can double farm income by 2022-3, a target set by the present union government.
From Main Street to Wall Street by Jesper Rangvid
Publication Date: 2021-03-21
eBook Price: $364.50
Description: In the long run, economies grow. Over the shorter-term business cycle, economic activity contracts and expands. From Main Street to Wall Street examines both the long-run relation between economic growth and stock returns and the shorter-term business-cycle relation. It examines the complexrelationship between the economy and the stock market, and guides readers through the fascinating interaction between economic activity and financial markets.From Main Street to Wall Street draws heavily on data, supporting academic theories with empirical facts, and backing up arguments in intuitive ways. It discusses how investors can use knowledge of economic activity and financial markets to formulate expectations to future stock returns, and helpsscholars and practitioners navigate financial markets by understanding the economy.
Going Nowhere Fast by Sabina Lawreniuk; Laurie Parsons
Publication Date: 2020-10-27
eBook Price: $243.00
Description: Rising levels of global inequality and migrant flows are both critical global challenges. Set within the Southeast Asian nation of Cambodia, Going Nowhere Fast sets out to answer a question of global importance: how does inequality persist in our increasingly mobile world?Inequality is often referred to as the greatest threat to democracy, society, and economy, and yet opportunity has apparently never been more accessible. Long and short distance transport - from motorbikes to aeroplanes - are available to more people than ever before and telecommunications havetransformed our lives, ushering in an era of translocality in which the behaviour of people and communities is influenced from hundreds or even thousands of miles apart. Yet amidst these complex flows of people, ideas, and capital, persistent inequality cuts a jarringly static figure. Going NowhereFast brings together a decade of research to examine this uneven development in Cambodia, making a case for inequality as a "total social fact" rather than an economic phenomenon, in which stories, stigma, obligation and assets combine to lock social structures in place.Going Nowhere Fast: Inequality in the Age of Translocality speaks from an in-depth perspective to an issue of global relevance: how inequality persists in our hypermobile world. Focusing on pressing issues in Cambodia that resonate beyond, it investigates how human movement within and across thenation's borders are intertwined with societal threats and challenges, including of precarious labour and agricultural livelihoods; climate and environmental change; the phenomenon of land grabbing; and the rise of popular nationalism.
Grand Transitions by Vaclav Smil
Publication Date: 2021-03-01
eBook Price: $93.11
Description: What makes the modern world work? The answer to this deceptively simple question lies in four "grand transitions" of civilization - in populations, agriculture, energy, and economics - which have transformed the way we live.Societies that have undergone all four transitions emerge into an era of radically different population dynamics, food surpluses (and waste), abundant energy use, and expanding economic opportunities. Simultaneously, in other parts of the world, hundreds of millions remain largely untouched by thesedevelopments.Through erudite storytelling, Vaclav Smil investigates the fascinating and complex interactions of these transitions. He argues that the moral imperative to share modernity's benefits has become more acute with increasing economic inequality, but addressing this imbalance would make it exceedinglydifficult to implement the changes necessary for the long-term preservation of the environment. Thus, managing the fifth transition - environmental changes from natural-resource depletion, biodiversity loss, and global warming - will determine the success or eventual failure of the grand transitionsthat have made the world we live in today.
Growth and Development Planning in India by K. L. Datta
Publication Date: 2021-04-04
eBook Price: $230.85
Description: The debate around growth has been an important feature of economic planning in India since Independence. This book deals with the wide range of issues related to the country's growth and development between 1951 and 2011, covering the 11 Five Year Plans formulated and implemented during thisperiod, as well as in the decade after that.The author traces the changing nature of planning over time-from rigid state control on economic activities, to reliance on market-based planning in the time of economic reforms. He has dealt with the transition from growth measures in the 1970s, to the use of a mix of growth and redistribution inthe 1980s, and the economic reforms and liberalization measures from 1991 onwards, and the inclusive growth we have seen in the twenty-first century.The central theme of the book is to analyse the role that planning played in maximizing the rate of economic growth and in improving the living standards of the people. Considering India's rapidly changing socio-economic environment, many of the issues around growth and development are contentious.The author discusses them here with academic rigour and an insider's insight, thus enabling a fair assessment.
Handbook of BRICS and Emerging Economies by P. B. Anand (Editor); Shailaja Fennell (Editor); Flavio Comim (Editor)
Publication Date: 2021-02-16
eBook Price: $587.25
Description: Ever since Jim O'Neill at Goldman Sachs coined the term BRICS in 2001 there have been many different assessments of these major emerging economies, with some even proclaiming that the promise of the BRICS (comprising Brazil, Russia, India, China, and South Africa) is over. However, the socalled 'arranged marriage' still seems to be working well, with the club having become a formal international forum, with summit declarations, ministerial meetings, and numerous BRICS-wide fora. Is this euphoria misplaced? Is there a BRICS model of economic and human development? Are inequalitiesincreasing and is this the denouncement of the economic successes?The Handbook of BRICS and Emerging Economies presents a comprehensive and multi-faceted analysis of the BRICS countries and other emerging economies, exploring their economic, social, environmental, and governance dimensions and other challenges. It brings together multi-disciplinary perspectivesfrom more than fifty authors to examine how education contributed to the emergence of BRICS, how BRICS are impacting African economies, and how other emerging economies (including Chile, Mexico, Turkey, and others in Africa and Central Asia) compare. It observes the impact of governance challengesboth within individual countries and in the forum for co-operation amongst them, what issues related to gender and identity based violence are prevalent, and what the security implications are and the role of BRICS is in contributing to peace keeping operations.
Inventing Ideas by B. Zorina Khan
Publication Date: 2020-06-08
eBook Price: $259.20
Description: What determines why some countries succeed and others fall behind? Economists have long debated the sources of economic growth, resulting in conflicting and often inaccurate claims about the role of the state, knowledge, patented ideas, monopolies, grand innovation prizes, and the nature of disruptive technologies. B. Zorina Khan's Inventing Ideas overturns conventional thinking and meticulously demonstrates how and why the mechanism design of institutions propels advances in the knowledge economy and ultimately shapes the fate of nations. Drawing on the experiences of over 100,000 inventors and innovations from Britain, France, and the United States during the first and second industrial revolutions (1750-1930), Khan's comprehensive empirical analysis provides a definitive micro-foundation for endogenous macroeconomic growth models. This groundbreaking study uses comparative analysis across time and place to show how different institutions affect technological innovation and growth. Khan demonstrates how top-down innovation systems, in which elites, state administrators, or panels make key economic decisions about prizes, rewards and the allocation of resources, prove to be ineffective and unproductive. By contrast, open-access markets in patented ideas increase the scale and scope of creativity, foster diversity and inclusiveness, generate greater knowledge spillovers, and enhance social welfare in the wider population. When institutions are associated with rewards that are misaligned with economic value and productivity, the negative consequences can accumulate and reduce comparative advantage at the level of individuals and nations alike. So who will arise as the global leader of the twenty-first century? The answer depends on the extent to which we learn and implement the lessons from the history of innovation and enterprise.
Land, Investment, and Migration by Camilla Toulmin
Publication Date: 2020-03-09
eBook Price: $243.00
Description: How do people survive and thrive in the uncertain and risk-prone Sahel? Land, Investment, and Migration seeks to answer this question through a long-term study of the people of Dlonguebougou in Central Mali. It uses a combination of infographics, satellite images, interviews, and survey datato present the strategies and fortunes of individuals and their families in this region over 35 years.In the early 1980s Camilla Toulmin spent two years in Dlonguebougou. She has since revisited to explore how climate change, population growth, new technologies, and land-grabs have been affecting the livelihoods and prospects of local people since. Land, Investment, and Migration: Thirty-five Yearsof Village Life in Mali brings together her findings. A trebling in population, unpredictable rainfall, and the arrival of Chinese investment have forced people into new ways of making ends meet and building up wealth - some doing much better than others. This book presents the search for new cashincomes, the shift of people from village to town, and the erosion of collective solidarity at household and village levels.Land, Investment, and Migration presents a mixed picture of a changing society. It shows the vibrancy of the village economy, rapid uptake of mobile phones and solar panels, and increased migration. It also shows the persistence of large family structures which offer some protection from the risksthat many villagers face.
Macroeconomic Policy in Fragile States by Ralph Chami (Editor); Raphael Espinoza (Editor); Peter J. Montiel (Editor)
Publication Date: 2021-03-26
eBook Price: $445.50
Description: Setting macroeconomic policy is especially difficult in fragile states. Political legitimacy concerns are heightened, raising issues such as who the policymakers are, what incentives they face, and how the process of policymaking is likely to work under limited legitimacy and high uncertaintyboth about the macroeconomic environment as well as policy effectiveness. In addition, fragility expands the range of policy objectives in ways that may constrain the attainment of standard macroeconomic objectives. Specifically, in the context of fragility policymakers also need to focus onmeasures to mitigate fragility itself - i.e., they need to address issues such as regional and ethnic economic disparities, youth unemployment, and food price inflation. Socio-political developments around the world have thus pushed policymakers to broaden their toolkit to improve the effectivenessof macroeconomic management in the face of these constraints.The chapters in Macroeconomic Policy in Fragile States address these issues, both by giving an analytical context from which policymakers can build to answer the questions they face in fragile situations as well as by providing lessons drawn from empirical analyses and case studies. The firstsection of the volume discusses the interactions between political economy considerations and macroeconomic policymaking. The second section covers the private sector environment in fragile states. The third section focuses on macroeconomic policy, especially fiscal policy, monetary policy, exchangerate policy, external flows, and aid effectiveness. The last section explains the role of the IMF in fragile states and concludes by presenting case studies from the Middle East and from Sub-Saharan Africa. The contributors to the volume are economists and political scientists from academia as wellas policymakers from international organizations and from countries affected by fragility.
Monetary and Fiscal Policy Through a DSGE Lens by Harold L. Cole
Publication Date: 2020-05-06
eBook Price: $259.20
Description: In Monetary and Fiscal Policy Through a DSGE Lens, Harold L. Cole develops and extends versions of a classic quantitative model of economic growth to take on a wide range of topics in monetary and fiscal policy. Bridging the gap between current undergraduate and graduate texts in the field,this comprehensive book covers the basic elements of advanced macroeconomics and equips readers to understand the debate on key policy questions.By using the simple DSGE, or dynamic stochastic general equilibrium, framework to build a series of quantitative models, the book combines a gradual introduction to advanced analytic methods with computer programming and quantitative policy analysis. In a clear discussion of the sophisticatedinteraction between theory and data, Cole explains how to gauge how well a model captures key elements in the data and how to reverse engineer a model to data. The book covers costs of inflation, optimal monetary policy, the impact of labor and capital taxes, and optimal fiscal policy. Itsystematically discusses technical material including the new Keynesian liquidity shock models, standard analytic methods, such as Lagrangian methods, and computational methods using Matlab and Python. With a strong computational emphasis, the volume teaches how to program up and solve systems ofnon-linear equations and develop models to study the macroeconomy.Knowing how to deeply understand and analyze models and develop computational code to evaluate the implications of those models is essential for students of macroeconomics. This book connects the standard undergraduate material to the elaborate models of advanced graduate courses with systematic andlogical coverage of the basics of advanced modern macroeconomics.
New India by Arvind Panagariya
Publication Date: 2020-10-01
eBook Price: $105.26
Description: With a GDP that just reached $2.6 trillion, India is poised to become the world's third largest economy in less than a decade. In doing so, it will have moved one step closer to reclaiming its pre-industrial glory when it accounted for one-sixth of the global output and ranked second ineconomic size. This rapid movement in the absolute size of the economy will be insufficient, however, to bring prosperity to India's vast population. Today, 44% of the country's workforce remains in agriculture and another 42% in small enterprises with fewer than twenty workers. Labor productivityof both sets of workers remains low and they live overwhelmingly on subsistence-level incomes.In New India: Reclaiming the Lost Glory, Arvind Panagariya outlines a concise strategy to transform India from a primarily rural and agricultural economy to an urban and industrial economy with well-paid jobs for those with limited skills. Panagariya argues that the creation of good jobs requiresthe emergence of medium and large enterprises in industry and services, especially labor-intensive sectors such as apparel, footwear, and other light manufactures. He explains that India needs policies conducive to the growth of firms from small to medium, medium to large, and large to larger still.Such policies include greater outward orientation; more flexible land, labor, and capital markets; concerted effort to improve the quality of higher education; faster urbanization; and improved governance at all levels.Written by a preeminent authority on the Indian economy, New India: Reclaiming the Lost Glory provides a data-driven and persuasive roadmap for India to eliminate abject poverty, accelerate economic growth, and return to its historically prominent position in the global economy.
Privatizing Welfare Services by Henrik Jordahl; Mårten Blix
Publication Date: 2021-03-21
eBook Price: $263.25
Description: Focusing on health care, education, and elderly care, Privatizing Welfare Services draws on extensive research on the consequences of introducing market-based mechanisms to deliver welfare services. Empirical evidence over the last few decades is summarized and condensed to policy lessons. Howto balance equity and efficiency is a central theme. The book also addresses the challenges of financing the Swedish model of welfare services as well as the importance of management practices and public opinion. The privatization of service production has occurred despite major politicalcontroversy between two competing visions for the welfare state. Successful experiments have spread organically to neighbouring municipalities. What was done well in this process and what were the mistakes? The book addresses the fundamental economic challenges, the trends of the future, and theimplications for institutional design.
Randomized Control Trials in the Field of Development by Florent Bédécarrats (Editor); Isabelle Guérin (Editor); François Roubaud (Editor)
Publication Date: 2020-12-08
eBook Price: $303.75
Description: In October 2019, Abhijit Banerjee, Esther Duflo, and Michael Kremer jointly won the 51st Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel "for their experimental approach to alleviating global poverty." But what is the exact scope of their experimental method, known asrandomized control trials (RCTs)? Which sorts of questions are RCTs able to address and which do they fail to answer? The first of its kind, Randomized Control Trials in the Field of Development: A Critical Perspective provides answers to these questions, explaining how RCTs work, what they canachieve, why they sometimes fail, how they can be improved and why other methods are both useful and necessary.Bringing together leading specialists in the field from a range of backgrounds and disciplines (economics, econometrics, mathematics, statistics, political economy, socioeconomics, anthropology, philosophy, global health, epidemiology, and medicine), it presents a full and coherent picture of themain strengths and weaknesses of RCTs in the field of development. Looking beyond the epistemological, political, and ethical differences underlying many of the disagreements surrounding RCTs, it explores the implementation of RCTs on the ground, outside of their ideal theoretical conditions andreveals some unsuspected uses and effects, their disruptive potential, but also their political uses. The contributions uncover the implicit worldview that many RCTs draw on and disseminate, and probe the gap between the method's narrow scope and its success, while also proposing improvements andalternatives.Without disputing the contribution of RCTs to scientific knowledge, Randomized Control Trials in the Field of Development warns against the potential dangers of their excessive use, arguing that the best use for RCTs is not necessarily that which immediately springs to mind. Written in plainlanguage, this book offers experts and laypeople alike a unique opportunity to come to an informed and reasoned judgement on RCTs and what they can bring to development.
Robert Triffin by Ivo Maes; Ilaria Pasotti (As told to)
Publication Date: 2021-02-03
eBook Price: $194.36
Description: With World War II still raging, nations came together to create a new international monetary order, the Bretton Woods system. This agreement created the International Monetary Fund, the World Bank, and a system of stable exchange rates with currencies pegged against the dollar. One man saw thepolitical, economic, and moral tensions inherent in keeping the dollar, a national currency, as a global reserve currency. When the monetary arrangement collapsed in 1973, economist Robert Triffin had already predicted its downfall two decades previously.Robert Triffin, a Belgian-American scholar and policy advisor, was a defining voice in economics and international politics in the twentieth century and an architect of the new multilateral liberal world order in his own right. Best known for his analysis of the vulnerabilities of the internationalmonetary system - the "Triffin dilemma" - Triffin was a voice of reason and compassion in the postwar period. Triffin played a key role in the debates on European monetary integration, especially with his proposals for a European Reserve Fund and a European currency unit, becoming one of theintellectual fathers of Europe's single currency, the euro.This intellectual biography evaluates what made Triffin a crucial figure in modern economic history. With an emphasis on the ideas that shaped the postwar international system, Robert Triffin: A Life explores both the man and the mission. In addition to analyzing his work in economics andpolicymaking, Ivo Maes and Ilaria Pasotti trace Triffin's story from a very modest background, as the son of a butcher, who grew up through the interwar period, to a singularly influential economist in the late twentieth century. The first biography of one of the intellectual giants of the postwarera, Robert Triffin critically examines the accomplishments and the legacy of a scholar who believed that innovations in economic policy could lead to a better and more peaceful world.
Social Dictatorships by Ferdinand Eibl
Publication Date: 2020-03-27
eBook Price: $283.50
Description: Why have social spending levels and social policy trajectories diverged so drastically across labour-abundant Middle Eastern and North African regimes? And how can we explain the marked persistence of spending levels after divergence? Using historical institutionalism and a mix of qualitativeand quantitative methods Social Dictatorships: The Political Economy of the Welfare State in the Middle East and North Africa develops an explanation of social spending in authoritarian regimes. It emphasizes the importance of early elite conflict and attempts to form a durable support coalitionunder the constraints imposed by external threats and scarce resources.Social Dictatorships utilizes two in-depth case studies of the political origins of the Tunisian and Egyptian welfare state to provide an empirical overview of how social policies have developed in the region, and to explain the marked differences in social policy trajectories. It follows amulti-level approach tested comparatively at the cross-country level and process-traced at micro-level by these case studies.
Susceptibility in Development by Tanya Jakimow
Publication Date: 2020-09-06
eBook Price: $263.25
Description: Susceptibility in Development offers a novel approach to understanding power in development through theories of affect and emotion. Development agents - people tasked with designing or delivering development - are susceptible to being affected in ways that may derail or threaten their "senseof self". This susceptibility is in direct relation to the capacity of others to engender feelings in development agents: an overlooked form of power. Susceptibility in Development proposes a new analytical framework to enable new readings of power relations and their consequences for development.Susceptibility in Development offers a comparative ethnography of two types of local development agents: volunteers in a community development program in Medan, Indonesia, and women municipal councillors in Dehradun, India. Ethnographic accounts that are attentive to the emotions and affectsengendered in encounters between individuals provide a fresh reading of the relations shaping local development. Local development agents may be more "susceptible" than workers and volunteers from the global North, yet the capacity/susceptibility to affect/be affected orders relations and shapesoutcomes of development more broadly. In theorising from the local, Susceptibility in Development offers fresh insights into power dynamics in development.
Taming the Megabanks by Arthur E. Wilmarth Jr
Publication Date: 2020-10-02
eBook Price: $121.46
Description: Banks were allowed to enter securities markets and become universal banks during two periods in the past century - the 1920s and the late 1990s. Both times the ensuing unsustainable booms led to destructive busts - the Great Depression of the early 1930s and the Global Financial Crisis of2007-09. Both times, universal banks made high-risk loans and packaged them into securities that were sold as safe investments to poorly-informed investors. Both times, governments were forced to arrange costly bailouts.Congress passed the Glass-Steagall Act of 1933 in response to the Great Depression. The Act broke up universal banks and established a decentralized financial system composed of three separate and independent sectors: banking, securities, and insurance. That system was stable and successful for overfour decades until the big-bank lobby persuaded regulators to open loopholes in Glass-Steagall during the 1980s and convinced Congress to repeal it in 1999.In Taming the Megabanks, Arthur Wilmarth, Jr. argues that we must separate banks from securities markets again to avoid another devastating financial crisis and ensure that our financial system serves Main Street business firms and consumers instead of Wall Street bankers and speculators. Wilmarth'scomprehensive and detailed analysis of the roles played by universal banks in the two worst financial catastrophes of the past century demonstrates that a new Glass-Steagall Act would make our financial system much more stable and less likely to produce boom-and-bust cycles. And giant universalbanks would no longer dominate our financial system or receive enormous subsidies.Congress did not adopt a new Glass-Steagall Act after the Global Financial Crisis. Instead, Congress passed the Dodd-Frank Act. Dodd-Frank's highly technical reforms tried to make banks safer but left the dangerous universal banking system in place. Universal banks continue to pose unacceptablerisks to financial stability and economic and social welfare. They exert far too much influence over our political and regulatory systems because of their immense size and their undeniable "too-big-to-fail" status.Taming the Megabanks forcefully makes the case for a a new Glass-Steagall Act to break up universal banks. A more decentralized and competitive system of independent banks and securities firms would not only provide better service to Main Street businesses and ordinary consumers but also bringstability to a volatile financial system.
The Anthropological Demography of Health by Véronique Petit (Editor); Kaveri Qureshi (Editor); Yves Charbit (Editor); Philip Kreager (Editor)
Publication Date: 2020-12-30
eBook Price: $445.50
Description: The anthropological demography of health, as a field of interdisciplinary population research, has grown from the 1990s, extending to a remarkable range of key human and policy issues, including: genetic disorders; nutrition; mental health; infant, child, and maternal morbidity; malaria;HIV/AIDS; disability and chronic diseases; new reproductive technologies; and population ageing. By observing group formation and change over time, tracking people's networks, and observing variance between what people say and do, anthropological demography goes beyond the characteristicallytop-down formal methodologies of most mainstream socio-economic demography and population health. This path-breaking volume charts and integrates the growing body of research that combines ethnography with quantitative models and methods in the field of population health. It offers a clear agendabased on important conceptual and methodological advances, and often working in close collaboration with medical and historical research.Approaches to population that are grounded in sustained ethnographic and historical research provide more than substantive knowledge of how cultural and social formations interact with health. They enable understanding of how local institutions and experience of vital events come to be translatedinto the demographic and health measures on which survey and clinical programmes rely. This, in turn, makes possible critical evaluation of the empirical adequacy of such translation, reflection on what happens when these models and measures become standardised evaluations of health statuses, andwhat this implies for governance. The combination of anthropological, demographic, historical, and biological research has gone beyond the initial demographic prioritisation of fertility regulation, to take on an expanded range of key health policy issues, and locate them in the context of theinequalities that so frequently give rise to major health differentials. The Anthropological Demography of Health offers a clear agenda for the application and extension of combined anthropological and demographic thinking in population health, and will provide a point of reference for thefield.
The Business of Scholarly Publishing by Albert N. Greco
Publication Date: 2020-04-28
eBook Price: $93.11
Description: The financial, technological, and institutional challenges facing scholarly presses are more critical now than they have ever been. Sales channels have narrowed, costs have risen, and technological change and the push toward open access have drastically changed the economic landscape. However,the publishing and dissemination of scholarly books and journals remains essential to academic research. How are publishers adapting this evolving environment?In The Business of Scholarly Publishing, Albert N. Greco examines this question through a detailed analysis of the business of the scholarly publishing in the United States since World War II. Drawing on an extensive review of the literature, statistical sources, and real examples from the author'sexperience in the industry, this book analyzes the changing circumstances of scholarly publishing. Greco turns a critical eye to the product, price, placement, promotion, and costs of scholarly books and journals with a primary emphasis on the trajectory over the last ten years. By including books,journals, pre-prints, and online repositories, the book covers the diverse range of academic publications and explains how publishers can address contemporary challenges across formats. Greco also pays special attention to the history and development of scholarly books and journals, intellectualproperty issues, contracts, and the impact of technology.The first study wholly devoted to the subject, The Business of Scholarly Publishing offers critical insights into the evolving business strategies and structures of a resilient industry.
The Economic History of India, 1857-2010 by Roy
Publication Date: 2020-08-30
eBook Price: $85.01
Description: From the end of the eighteenth century, two distinct global processes began to transform livelihoods and living conditions in the South Asia region. These were the rise of British colonial rule and globalization, that is, the integration of the region in the emerging world markets for goods, capital, and labour services. Two hundred years later, India was the home to many of the world's poorest people as well as one of the fastest growing market economies in the world. Does a study of the past help to explain the paradox of growth amidst poverty? The Economic History of India: 1857–2010 claims that the roots of this paradox go back to India's colonial past, when internal factors like geography and external forces like globalization and imperial rule created prosperity in some areas and poverty in others. Looking at the recent scholarship in this area, this revised edition covers new subjects like environment and princely states. The author sets out the key questions that a study of long-run economic change in India should begin with and shows how historians have answered these questions and where the gaps remain.
The Oxford Handbook of Ethics and Economics by Mark D. White (Editor)
Publication Date: 2019-08-06
eBook Price: $445.50
Description: Economics and ethics are both valuable tools for analyzing the behavior and actions of human beings and institutions. Adam Smith, the father of modern economics, considered them two sides of the same coin, but since economics was formalized and mathematicised in the late 1800s and early 1900s, the fields have largely followed separate paths. The Oxford Handbook of Ethics and Economics provides a timely and thorough survey of the various ways ethics can, does, and should inform economic theory and practice. The first part of the book, Foundations, explores how the most prominent schools of moral philosophy relate to economics; asks how morals relevant to economic behavior may have evolved; and explains how various approaches to economics incorporate ethics into their work. The second part, Applications, looks at the ethics of commerce, finance, and markets; uncovers the moral dilemmas involved with making decisions regarding social welfare, risk, and harm to others; and explores how ethics is relevant to major topics within economics, such as health care and the environment. With esteemed contributors from economics and philosophy, The Oxford Handbook of Ethics and Economics is a resource for scholars in both disciplines and those in related fields. It highlights the close relationship between ethics and economics in the past while and lays a foundation for further integration going forward.
The Oxford Handbook of Industrial Hubs and Economic Development by Arkebe Oqubay (Editor); Justin Yifu Lin (Editor)
Publication Date: 2020-09-23
eBook Price: $587.25
Description: Industrialization supported by industrial hubs has been widely associated with structural transformation and catch-up. But while the direct economic benefits of industrial hubs are significant, their value lies first and foremost in their contribution as incubators of industrialization,production and technological capability, and innovation. The Oxford Handbook of Industrial Hubs and Economic Development adopts an interdisciplinary approach to examine the conceptual underpinnings, review empirical evidence of regions and economies, and extract pertinent lessons for policyreasearchers and practitioners on the key drivers of success and failure for industrial hubs.This Handbook illustrates the diverse and complex nature of industrial hubs and shows how they promote industrialization, economic structural transformation, and technological catch-up It explores the implications of emerging issues and trends such as environmental protection and sustainability,technological advancement, shifts in the global economy, and urbanization.
The Oxford Handbook of Industrial Policy by Arkebe Oqubay (Editor); Christopher Cramer (Editor); Ha-Joon Chang (Editor); Richard Kozul-Wright (Editor)
Publication Date: 2020-12-20
eBook Price: $506.25
Description: Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competitiveness, catching up, and structural change in both advanced and developing countries. It has also been one of the most contestedperspectives, reflecting ideologically inflected debates and shifts in prevailing ideas. There has lately been a renewed interest in industrial policy in academic circles and international policy dialogues, prompted by the weak outcomes of policies pursued by many developing countries under thedirection of the Washington Consensus (and its descendants), the slow economic recovery of many advanced economies after the 2008 global financial crisis, and mounting anxieties about the national consequences of globalization.The Oxford Handbook of Industrial Policy presents a comprehensive review of and a novel approach to the conceptual and theoretical foundations of industrial policy. The Handbook also presents analytical perspectives on how industrial policy connects to broader issues of development strategy,macro-economic policies, infrastructure development, human capital, and political economy. By combining historical and theoretical perspectives, and integrating conceptual issues with empirical evidence drawn from advanced, emerging, and developing countries, The Handbook offers valuable lessonsand policy insights to policymakers, practitioners and researchers on developing productive transformation, technological capabilities, and international competitiveness. It addresses pressing issues including climate change, the gendered dimensions of industrial policy, global governance, andtechnical change.Written by leading international thinkers on the subject, the volume pulls together different perspectives and schools of thought from neo-classical to structuralist development economists to discuss and highlight the adaptation of industrial policy in an ever-changing socio-economic and politicallandscape.
The Oxford Handbook of Public Choice, Volume 1 by Roger D. Congleton (Editor); Bernard N. Grofman (Editor); Stefan Voigt (Editor)
Publication Date: 2019-01-17
eBook Price: $506.25
Description: The Oxford Handbook of Public Choice provides a comprehensive overview of the research in economics, political science, law, and sociology that has generated considerable insight into the politics of democratic and authoritarian systems as well as the influence of different institutionalframeworks on incentives and outcomes. The result is an improved understanding of public policy, public finance, industrial organization, and macroeconomics as the combination of political and economic analysis shed light on how various interests compete both within a given rules of the games and,at times, to change the rules. These volumes include analytical surveys, syntheses, and general overviews of the many subfields of public choice focusing on interesting, important, and at times contentious issues. Throughout the focus is on enhancing understanding how political and economic systemsact and interact, and how they might be improved.Both volumes combine methodological analysis with substantive overviews of key topics. This first volume covers voting and elections; interest group competition and rent seeking, including corruption and various normative approaches to evaluating policies and politics.Throughout both volumes important analytical concepts and tools are discussed, including their application to substantive topics. Readers will gain increased understanding of rational choice and its implications for collective action; various explanations of voting, including economic andexpressive; the role of taxation and finance in government dynamics; how trust and persuasion influence political outcomes; and how revolution, coups, and authoritarianism can be explained by the same set of analytical tools as enhance understanding of the various forms of democracy.
The Oxford Handbook of Public Choice, Volume 2 by Roger D. Congleton (Editor); Bernard N. Grofman (Editor); Stefan Voigt (Editor)
Publication Date: 2019-01-14
eBook Price: $506.25
Description: The Oxford Handbook of Public Choice provides a comprehensive overview of the research in economics, political science, law, and sociology that has generated considerable insight into the politics of democratic and authoritarian systems as well as the influence of different institutionalframeworks on incentives and outcomes. The result is an improved understanding of public policy, public finance, industrial organization, and macroeconomics as the combination of political and economic analysis shed light on how various interests compete both within a given rules of the games and,at times, to change the rules. These volumes include analytical surveys, syntheses, and general overviews of the many subfields of public choice focusing on interesting, important, and at times contentious issues. Throughout the focus is on enhancing understanding how political and economic systemsact and interact, and how they might be improved.Both volumes combine methodological analysis with substantive overviews of key topics. This second volume examines constitutional political economy and also various applications, including public policy, international relations, and the study of history, as well as methodological and measurementissues.Throughout both volumes important analytical concepts and tools are discussed, including their application to substantive topics. Readers will gain increased understanding of rational choice and its implications for collective action; various explanations of voting, including economic andexpressive; the role of taxation and finance in government dynamics; how trust and persuasion influence political outcomes; and how revolution, coups, and authoritarianism can be explained by the same set of analytical tools as enhance understanding of the various forms of democracy.
The Oxford Handbook of Structural Transformation by Célestin Monga (Editor); Justin Yifu Lin (Editor)
Publication Date: 2019-04-14
eBook Price: $445.50
Description: The Oxford Handbook of Structural Transformation addresses the economics of structural transformation around the world. It deals with major themes, which include history and context, critical issues and concepts, methodological foundations, main theoretical approaches, policy issues, someilluminating country experiences of structural transformation, and important debates on the respective roles of the market and the state in that process.The historical record provides a challenge for economists to understand the success of the rising economic powers (some of them initially considered unlikely candidates for prosperity) and the stagnation or decline of others. Five major questions emerge:DT Why has so much divergence occurred among nations of the world since the Industrial Revolution, and particularly during the 20th century?DT Why has the pattern changed recently with the emergence of a few developing economies (e.g. the multi-polar world), and can it be sustained?DT What are the key drivers, strategies, and policies, to foster structural transformation in various different country contexts and in a constantly evolving global economy?DT How could low- and middle-income countries avoid development traps and learn from past experiences whilst exploiting the new opportunities offered by the Fourth Industrial Revolution?DT What is the role of various development stakeholders and other important players in facilitating sustained economic convergence among nations?This book addresses these questions, bringing the rigor, usefulness, and multi-disciplinary scope of the Oxford Handbook series to a critical topic in economics. The Oxford Handbook of Structural Transformation is an essential reference work and a stimulus to new research and creativity across allbranches of the social sciences.
The Oxford Handbook of the Ethiopian Economy by Fantu Cheru (Editor); Christopher Cramer (Editor); Arkebe Oqubay (Editor)
Publication Date: 2019-03-17
eBook Price: $445.50
Description: From a war-torn and famine-plagued country at the beginning of the 1990s, Ethiopia is today emerging as one of the fastest-growing economies in Africa. Growth in Ethiopia has surpassed that of every other sub-Saharan country over the past decade and is forecast by the International MonetaryFund to exceed 8 percent over the next two years. The government has set its eyes on transforming the country into a middle-income country by 2025, and into a leading manufacturing hub in Africa.The Oxford Handbook of the Ethiopian Economy studies this country's unique model of development, where the state plays a central role, and where a successful industrialization drive has challenged the long-held erroneous assumption that industrial policy will never work in poor African countries.While much of the volume is focused on post-1991 economic development policy and strategy, the analysis is set against the background of the long history of Ethiopia, and more specifically on the Imperial period that ended in 1974, the socialist development experiment of the Derg regime between 1974and 1991, and the policies and strategies of the current EPRDF government that assumed power in 1991.Including a range of contributions from both academic and professional standpoints, this volume is a key reference work on the economy of Ethiopia.
The Poor and the Plutocrats by Francis Teal
Publication Date: 2021-06-15
eBook Price: $121.50
Description: Why we are poor and others are so very rich, indeed, why they are so rich when we are still very poor.A decisive examination of inequality and its relationship to poverty and wealth, The Poor and the Plutocrats explores how we live in a world of very many poor people and a very few extremely rich ones - the poor and the plutocrats of the title. Globally the last twenty years have seen declines ininequality between countries and the fastest fall in the numbers of absolutely poor in history - those living on less than the World Bank extreme poverty line of US$1.90 per day. In parallel, inequality within some countries has increased markedly, particularly in the US and the UK.In The Poor and the Plutocrats, Francis Teal explains this pattern of falling absolute poverty and rising relative poverty (the decline of global inequality and the rise of inequality within countries) through the lens of how, over the last two centuries, the value of relatively unskilled labour haschanged. To understand the co-existence of the poor and the plutocrats, Teal examines the patterns of growth in national income and how the 1% have captured, in some countries, an increasing share of that income. This book explains how we have come to live in a world of such high levels of incomeand such dissatisfaction with how that income is distributed.
The Property Species by Bart J. Wilson
Publication Date: 2020-08-01
eBook Price: $259.20
Description: What is property, and why does our species have it? In The Property Species, Bart J. Wilson explores how humans acquire, perceive, and know the custom of property, and why this might be relevant to understanding how property works in the twenty-first century.Arguing that neither the sciences nor the humanities synthesizes a full account of property, the book offers a cross-disciplinary compromise that is sure to be controversial: Property is a universal and uniquely human custom. Integrating cognitive linguistics with philosophy of property and a freshlook at property disputes in the common law, the book makes the case that symbolic-thinking humans locate the meaning of property within a thing. That is, all human beings and only human beings have property in things, and at its core, property rests on custom, not rights. Such an alternative toconventional thinking contends that the origins of property lie not in food, mates, territory, or land, but in the very human act of creating, with symbolic thought, something new that did not previously exist.Written by an economist who marvels at the natural history of humankind, the book is essential reading for experts and any reader who has wondered why people claim things as "Mine!", and what that means for our humanity.
The Prosperity Paradox by Philip Martin
Publication Date: 2021-01-09
eBook Price: $121.50
Description: Why do farm workers become more vulnerable as countries get richer? As countries get richer, the share of workers employed in agriculture falls. In richer countries, hired farm workers do ever more of the work on the fewer and larger farms that produce most farm commodities.These hired workers are among the most vulnerable. They include local workers who lack the skills and contacts needed to get nonfarm jobs that usually offer higher wages and more opportunities as well as legal and unauthorized migrants from poorer countries who may not know or exercise theirlabor-related rights. Government enforcement of labor laws depends on complaints, and vulnerable workers rarely complain.The Prosperity Paradox explains why farm worker problems often worsen as the agricultural sector shrinks, and lays out options to help vulnerable workers. Analysis of farm labor markets in the US, Mexico, and other countries shows that unions and fair trade efforts to protect farm workers cover avery small share of all workers and are unlikely to expand quickly.Most labor-intensive fruits and vegetables are eaten fresh. Unsafe food that sickened consumers led to voluntary industry and later government-mandated food safety programs to ensure that food is safe when it leaves the farm, with protocols enforced by both government inspectors and buyers whorefused to buy from non-compliant farms. This food safety model offers the most promise to launch a new era in protective labor policies.
The Reinvention of Development Banking in the European Union by Daniel Mertens (Editor); Matthias Thiemann (Editor); Peter Volberding (Editor)
Publication Date: 2021-04-09
eBook Price: $303.75
Description: National development banks (NDBs) have transformed from outdated relics of national industrial policy to central pillars of the European Union's economic project. This trend, which accelerated after the Financial Crisis of 2007, has led to a proliferation of NDBs with an expanded size andscope. However, it is surprising that the EU - which has championed market-oriented governance and strict competition policy - has actually advocated for an expansion of NDBs. This book therefore asks, Why has the EU supported an increased role for NDBs, and how can we understand the dynamicsbetween NDBs and European incentives and constraints?To answer these questions, the contributing authors analyze the formation and evolution of a field of development banking within the EU, identifying a new field around an innovative conceptualization of state-backed financing for the purposes of policy implementation. Yet rather than focusing solelyon national development banks, the authors instead broaden the focus to the entire ecosystem of the field of development banking, which includes political institutions (both in Brussels and in the member states), financing vehicles (such as the Juncker Plan), regulatory bodies (Directorate-Generalfor Competition, Directorate-General for Economic and Financial Affairs), and commercial actors. Seven in-depth case studies on European NDBs, along with three chapters on European-level actors, detail this field of development banking, and answer the questions of when, where, and how developmentbanking occurs within the EU.
Theory of Macroeconomic Policy by Christopher Tsoukis
Publication Date: 2020-12-21
eBook Price: $324.00
Description: Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic theory, covering a wide range of topics that are not customarily dealt with in macroeconomics texts, as well as more standard material.Advanced theory is bridged with more elementary or intermediate material, and established models are reviewed alongside current research directions. There is an extensive review of empirical evidence on virtually every topic, supplemented by narrative accounts for various episodes. The policyimplications of the various theories are emphasised throughout.The chapters are largely self-contained so that different courses can focus at different places. A 'Guidance for Further Study' Section and extensive bibliography give plenty of ideas for all levels of independent study, from Undergraduate Projects to MSc Dissertations to PhD Theses. Theory ofMacroeconomic Policy presents a balance between: breadth as well as depth; analytical treatment and intuition; theory and evidence; vintage theories and current directions; theory and policy; (established) theory and debate. Theory of Macroeconomic Policy is an affirmation that there is awell-developed body of theory that is invaluable for an in-depth understanding of the macro-economy and policy; equally, there is much scope for critical discussion and debate.
Trapped in the Middle? by José Antonio Alonso (Editor); José Antonio Ocampo (Editor)
Publication Date: 2020-12-20
eBook Price: $364.50
Description: There is growing evidence that overcoming the low-income threshold and reaching middle-income status is not sufficient for countries to converge toward high-income levels. Few middle-income countries have successfully completed that transit in recent decades, with the majority remaining inthe middle-income group, and so facing what has come to be called "the middle-income trap". It is therefore essential to explore whether middle-income traps really exist and, if they do, how these pitfalls are manifested, what their causes are, what economic policy measures are required to escapefrom them, and what international cooperation can do to support this process. Trapped in the Middle? brings together diverse perspectives on these important questions, providing new evidence and analytical approaches to enrich the debate on the domestic and international challenges faced by asignificant number of middle-income countries, in which over three-quarters of the global population live.