Economic growth Books

Book SynopsisHow did Gross domestic product (GDP) become the world''s most influential indicator? Why does it still remain the primary measure of societal progress despite being widely criticised for not considering well-being or sustainability? Why have the many beyond-GDP alternatives not managed to effectively challenge GDP''s dominance? The success of GDP and the failure of beyond-GDP lies in their underlying communities. The macro-economic community emerged in the aftermath of the Great Depression and WWII. This community formalised their ''language'' in the System of National Accounts (SNA) which provided the global terminology with which to communicate. On the other hand, beyond-GDP is a heterogeneous community which speaks in many dialects, accents and languages. Unless this changes, the ''beyond-GDP cottage industry'' will never beat the ''GDP-multinational''. This book proposes a new roadmap to 2030, detailing how to create a multidisciplinary Wellbeing and Sustainability Science (WSS) with a common language, the System of Global and National Accounts (SGNA).Trade Review'This book shows why a 'beyond-GDP world' is needed and how it can be built. A must-read contribution to the move towards a sustainable future.' Enrico Giovannini, Università degli Studi di Roma Tor Vergata and former Minister of Labour and Social Policies in the Italian government'In crisp prose, Rutger Hoekstra conveys an important message. We won't convince policy makers to look beyond GDP simply by multiplying the production of well-being indicators. Something more is clearly needed.' Marco Mira d'Ercole, Head of Household Statistics, OECD'This book by environmental economist Hoekstra does not only offer a good read and an excellent introduction to the big debate about GDP and beyond GDP. It also provides a clear strategy to make beyond-GDP much more effective and to learn from the success of GDP as an indicator and language.' Frits Bos, CPB Netherlands Bureau for Economics Policy Analysis and author of The National Accounts as a Tool for Analysis and Policy: in View of History, Economic Theory and Data Compilation Issues'There are many publications criticising, for the right or for the wrong reasons, GDP and national accounts. But hardly anyone comes up with a valid way-out. Rutger Hoekstra not only puts forward a well thought-out alternative, but also provides a strategy for replacing the hegemony of GDP. Will it work?' Peter van de Ven, Head of National Accounts, Organisation for Economic Co-operation and Development'This is a powerful and timely contribution to the debate about how to move beyond GDP - and what to use instead - in seeking to understand the economy and bring about improvements in people's lives. There is no question that the conventional economic statistics have outlived their use; they obscure rather than enlighten. The importance of this book is in its thoughtful and detailed proposals for change.' Diane Coyle, Bennett Professor of Public Policy, University of Cambridge and author of GDP: A Brief but Affectionate History'The beyond-GDP discussion has been raging on for decades, and progress has been slow. Drawing upon years of experience as a high-level international statistician, Rutger Hoekstra offers an original and highly informed view from the trenches on the why and how. His innovative and ambitious proposal for a way out deserves to be widely read and discussed.' Marcel Timmer, Director of the Groningen Growth and Development Centre (GGDC), Rijksuniversiteit Groningen'I therefore cannot recommend highly enough environmental economist Rutger Hoekstra's book Replacing GDP by 2030. In my view it is the most interesting and thoroughly evidence based approach to taking the debate on replacing GDP forward. It should be required reading for every economic minister and spokesperson as well as every research body in Scotland.' Roger Mullin, The NationalTable of ContentsPart I. Why A New Strategy Is Needed; 1. Replacing the most influential indicator in the world; 2. Why is GDP successful?; 3. What does GDP measure (and what does it not)?; 4. Why is beyond-GDP not successful?; Part II. The New Strategy: A Community for Well-being and Sustainability: 5. Outline of the strategy; 6. Global environmental accounts (GENA); 7. Global societal accounts (GSA); 8. Global economic accounts (GECA); 9. Global distribution accounts (GDA); 10. Global quality accounts (GQA) and quality indicators; 11. Implementation of the strategy.

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Book SynopsisStudents in economics are ever more distressed by the disconnect between mainstream economics and the real world. This book shows how post-Keynesian economics constitutes a coherent heterodox alternative, based on realistic assumptions and the integration of the financial and real sides of the economy, with an emphasis on the many paradoxes that arise in a truly macroeconomic analysis.The book is a considerably revised and updated version of the widely used and frequently cited 2014 edition. It provides a comprehensive account of post-Keynesian theory and policy. Topics covered include its methodological foundations, consumer theory and choice under fundamental uncertainty, firms and pricing, money and credit, effective demand and employment, growth theory, open-economy issues, inflation theory. It also links with ecological economics. Scholars of economics, particularly post-Keynesian and heterodox economists, will find this comprehensive look at the field a necessary addition to their libraries, while students and instructors will find it a perfect text for any class on post-Keynesian economics.Trade ReviewWinner of the EAEPE Myrdal Prize (now the Joan Robinson Prize)‘Marc Lavoie’s thoroughly revised Post-Keynesian Economics provides an irrefutable critique of mainstream economics, which is becoming ever more recondite and irrelevant. But the book does much more, offering the clear prospect of an intellectual renewal of both micro- and macroeconomics, firmly founded on realistic assumptions relevant for a world of fundamental uncertainty and integrating finance and the real economy. Lavoie’s Post-Keynesian Economics, unparalleled in its coverage of establishment and post-Keynesian micro- and macroeconomics, is a work of lasting importance. An amazing feat.’ -- Servaas Storm, Delft University of Technology, the NetherlandsAcclaim for the first edition:‘I am delighted to have been invited to present a discussion of Marc Lavoie’s Post-Keynesian Economics: New Foundations. I was contemplating whether to give my short review, “it’s a brilliant book, you must buy it”, or my longer and more considered review, “it’s a brilliant book, you must buy it and I wish I had written it!” . . . It is a book every economist should have on his (or her) shelf, placed within easy reach.’ -- John McCombie, European Journal of Economics and Economic Policies: InterventionTable of ContentsContents: Notation used in the book Preface to the Second Edition 1. Essentials of heterodox and post-Keynesian economics 2. Theory of choice 3. Theory of the firm 4. Credit, money and central banks 5. Effective demand and employment 6. Accumulation and capacity 7. Open-economy macroeconomics 8. Inflation theory 9. Concluding remarks References Index

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Book SynopsisThe fascinating sociocultural story of how the silk textile conquered the luxury world and remained prestigious throughout the ages.Trade Review"Back in economic history, we find that a Dutch philosopher from the 17th century -- Mandeville -- elicited luxury as the sole support for the economy to work. the Scottish Adam Smith, a century later -- well-known as the father of economics -- was heavily influenced by Mandeville. Trini Callava went with all vigor back to history, and thoroughly pursued a profound study of silk -- an icon of luxury of all times -- as key not to just social and economic order, but also, an anthropological need. The strategy of luxury should be a core study in all business schools." --Alejandro Ruelas-Gossi, PhD, Clinical Professor of Strategy and Innovation, Universidad de Navarra, School of Economics & Business "Trini takes a unique perspective to explore and understand the remarkable journey of silk through the ages as a symbol of luxury. In this journey, the reader will get a chance to ponder culture, consumerism, and globalization." --Michael Tsiros, PhD, Patrick J. Cesarano Professor and Chair of Marketing, University of Miami Business School

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Book SynopsisOrlando Patterson returns to Jamaica, his birthplace, to reckon with its history and culture. Locals claim to be some of the world’s happiest people, and their successes in music and athletics are legendary. Yet the country remains violent and poor. In Jamaica the dilemmas of globalization and postcolonial politics are thrown into stark relief.Trade ReviewFascinating…Such breadth makes this an eye-opening volume. It is also illuminating because Patterson carefully explores the complexity of the structural machinery behind Jamaica’s dazzling successes and dismal failures, rather than just chalking these up to simple causes. Although at times Patterson is critical of and disappointed by his fellow Jamaicans, his admiration for the nation’s independent spirit shines through. -- Carrie Gibson * New York Times Book Review *An exploration of politics, economic development, and popular culture in the nearly 60 years since the island’s independence, the book seeks to understand what became of the promises of decolonization…In the ruins of postcolonial Jamaica, Patterson unearths a vibrant popular culture, centered in particular on dancehall music, that can provide new resources to address the postcolonial predicament…He uses the ‘confounding island’ as the site from which to understand the world. -- Adom Getachew * The Nation *Excellent…One thing I like so much about this book is that it tries to answer actual questions you might have about Jamaica. -- Tyler Cowen * Marginal Revolution *Patterson explores the paradoxes of his native Jamaica in a series of stimulating essays. -- Richard Feinberg * Foreign Affairs *Everybody wonders what makes Jamaica so different. The prominent Harvard sociologist dares to ask. Dares to answer, too. -- Stephen L. Carter * Bloomberg Opinion *Unlike many observers of Jamaica, Patterson is thoroughly balanced in his assessment of Jamaica’s postcolonial failures…Patterson’s masterpiece covers a wide range of topics from democracy to culture, thus making it a must-read for anyone interested in understanding the paradox of Jamaica. -- Lipton Matthews * Jamaica Observer *[A] masterful study. -- Paget Henry * American Journal of Sociology *Filled with piercing insights and written in Patterson’s crystalline style, The Confounding Island exemplifies the universalization of the particular that is the hallmark of great art and great social science. Patterson draws on research as well as personal experience and family history to shed light on some of the paradoxes, great failures, and outsized successes of postcolonial Jamaica. -- George Steinmetz, author of The Devil’s HandwritingJamaica, the birthplace of reggae, a fiercely democratic island with staggeringly high crime rates, and a case study in the history of extractive colonialism, is an enigma that still fascinates the world. In this masterful history infused with personal feeling and detail, Orlando Patterson, the eminent scholar of the Caribbean, delivers a memorable, nuanced, and insightful social analysis of the island and its place in global history. Highly recommended. -- Daron Acemoglu, coauthor of Why Nations Fail: Origins of Power, Prosperity, and PovertyIn The Confounding Island, Patterson challenges established dogma and slays old shibboleths by employing historical and cultural analyses to explain contemporary Jamaican social and economic phenomena, and he succeeds in taking the ‘confound’ out of ‘confounding’. The result is a clearer understanding of what makes Jamaica and Jamaicans tick. -- Ian Randle, Chairman, Ian Randle PublishersPatterson draws upon vast amounts of data, literature, and first-hand policy experience to present a rigorous and deeply insightful analysis of the paradox of Jamaica. This is an indispensable work for anyone interested in Jamaica’s development. -- Nigel Clarke, Minister of Finance and the Public Service of JamaicaOrlando Patterson weaves together an extraordinarily diverse range of disciplines to give us a comprehensive explanation of Jamaica’s history of success in some areas, yet chronic failure in others. This book is a game-changer whose themes resonate far beyond Jamaica to the challenges of economic development more generally; it will be assigned to generations of students to come. I predict that, despite its completely different subject matter, The Confounding Island will give Patterson’s iconic Children of Sisyphus strong competition as a must-read among West Indians. What a book! -- Eleanor Marie Brown, Pennsylvania State UniversityIn positioning Jamaica’s global impact in athletics and music against endemic violence and poverty, Patterson challenges the reader to engage with the stark contrasts between individual success in popular music and athletic sprints and failures in economic, social, and political pursuits that require sustained collective efforts. -- Rupert Lewis * sx salon *Demonstrates how one place—in this case, Jamaica—can provide critical insights into the broad theoretical and political issues of our time…A welcome capstone to a long and committed engagement with the legacies of slavery, the way the imperial era damaged us (rather than tutoring us, as is so often touted), and the ways the past lives in the present. -- Deborah A. Thomas * New West Indian Guide *

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Book SynopsisWhat is economic growth? And why, historically, has it occurred in only a few places? Previous efforts to answer these questions have focused on institutions, geography, finances, and psychology. But according to MIT''s antidisciplinarian César Hidalgo, understanding the nature of economic growth demands transcending the social sciences and including the natural sciences of information, networks, and complexity. To understand the growth of economies, Hidalgo argues, we first need to understand the growth of order.At first glance, the universe seems hostile to order. Thermodynamics dictates that over time, order,or information,disappears. Whispers vanish in the wind just like the beauty of swirling cigarette smoke collapses into disorderly clouds. But thermodynamics also has loopholes that promote the growth of information in pockets. Although cities are all pockets where information grows, they are not all the same. For every Silicon Valley, Tokyo, and Paris, there are dozens of placesTrade ReviewFinalist for the 2015 Hayek Book and Lecture Prize "The concept of information is necessary to make sense of anything that is not a boring featureless mass, including life, mind, society, and value. Why Information Grows lucidly explains the foundations of this essential concept, while creatively applying it in exciting new ways. It is filled with interesting ideas, and a pleasure to read."--Steven Pinker, Johnstone Professor of Psychology, Harvard University, and author of The Language Instinct and How the Mind Works "Mr Hidalgo succeeds brilliantly in bringing his complex subject to life. His book is full of nuggets, from memorable phrases to interesting metaphors."--Economist "Written in an accessible and entertaining style... Hidalgo has made a bold attempt to synthesise a large body of cutting-edge work into a readable, slender volume. This is the future of growth theory and his thought-provoking book deserves to be widely read."--Financial Times "Contains some innovative thinking about what drives growth that could help us to navigate the turbulence of the ever more interconnected global economy."--Nature "Thought-provoking...Well written and accessible, the book is full of interesting ideas that deserve to be read and discussed."--CHOICE "An impassioned argument for the advantages of an information-centric view of economic growth, and for understanding the different capacities of nations to provide solutions to human problems... Hidalgo persuasively demonstrates the value of this approach by placing the ideas firmly in their historical context, both in information theory and in physics... Hidalgo's perspective on economic wealth is wildly fresh and creative. Physicists will enjoy reading about familiar ideas in new ways, and will also find value in learning how these ideas can be applied fruitfully in areas seemingly far away from physics. Economists and other social scientists will find new concepts ripe for profitable use."--Physics World "Anybody interested in the future of mathematical theory in economics should read Cesar Hidalgo's book Why Information Grows. There are many things to like about this lucid account of the evolution of our scientific understanding of information. One of the most important may be the simplest. It illustrates what it means to think like a physicist."--Paul Romer, founding director of the Urbanization Project at NYU Stern "A mind-stretching, unconventional book that draws on information theory, physics, sociology and economics to explain economic growth and why it occurs in some places, not all."--Pittsburgh Tribune-Review ~b~>"Hidalgo invites us to understand the economy in an entirely different way... [A] novel, holistic take on the dismal science."--Kirkus Reviews "Why Information Grows shows us how humans infuse information into matter, making it more valuable than gold. Hidalgo's work brilliantly spotlights the true alchemy of the twenty-first century and its impact from economic complexity to national competitiveness."--Albert-Laszlo Barabasi, Distinguished Professor and Director of Northeastern University's Center for Complex Network Research, and author of Linked "Economies are built out of information. This has been true from the Stone Age to our knowledge economy today. Yet until Cesar Hidalgo's breakthrough book, we have not had a deep account as to how and why this is so. This exciting, important book is a major step toward a twenty-first century theory of growth."--Eric Beinhocker, Executive Director, Institute for New Economic Thinking, University of Oxford and author of The Origin of WealthspanTable of ContentsPrologue: The Eternal War Introduction: From Atoms to People to Economics PART I Bits in Atoms Chapter 1. The Secret to Time Travel Chapter 2. The Body of the Meaningless Chapter 3. The Eternal Anomaly PART II Crystallized Imagination Chapter 4. Out of Our Heads! Chapter 5. Amplifiers PART III The Quantization of Knowhow Chapter 6. This Time, It's Personal Chapter 7. Links Are Not Free Chapter 8. In Links We Trust PART IV The Complexity of the Economy Chapter 9. The Evolution of Economic Complexity Chapter 10. The Sixth Substance Chapter 11. The Marriage of Knowledge, Knowhow, and Information PART V Epilogue Chapter 12. The Evolution of Physical Order, from Atoms to Economics Acknowledgments: Bleeding Words Notes Index

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Book SynopsisLawrence McDonald (Author) Lawrence McDonald is risk consultant to hedge funds, family offices, asset managers and investors across twenty-three countries. One of Wall Street's most respected financial experts, McDonald has made more than 1,400 media appearances. Previously, he was a vice president of distressed debt and convertible securities trading at Lehman Brothers.James Robinson (Author) James Robinson is a co-founder of The Bear Traps Report and the CEO of Robinson Speakers Bureau.

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Book SynopsisTHE INTERNATIONAL BESTSELLER''Entertaining, acute and disarmingly honest'' Economist''A vital guide to the new economic order'' Rana Foroohar, TimeThe crisis of 2008 ended the illusion of a golden era in which many people imagined that prosperity and political calm would continue to spread indefinitely. In a world now racked by slowing growth and mounting unrest, how can we discern which nations will thrive and which will fail? Shaped by prize-winning author Ruchir Sharma''s twenty-five years travelling the world, The Rise and Fall of Nations rethinks economics as a practical art. By narrowing down the thousands of factors that can shape a country''s future, it spells out ten clear rules for identifying the next big winners and losers in the global economy.''The nub of the book is how to spot which countries are likely to succeed, and which to fail, in this impermanent world. Sharma offers a framework of Trade ReviewFilled with amazing data ... fascinating insights and revealing anecdotes, this is quite simply the best guide to the global economy today. Whether you are an observer or an investor, you cannot afford to ignore it. -- Fareed ZakariaA fine guide to the great emerging market boom and bust. * The Economist *Sharma's wealth of knowledge ... and ample experience on the ground are strong foundations for his exploration of what makes economies break out, or break down. * Reuters *For sheer readability and insight on the developing world drama, I dare say you won't find a better choice. * Wall Street Journal *A vital guide to the new economic order. -- Rana Foroohar * Time *

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Book SynopsisAntoine van Agtmael coined the term "emerging markets" and built a career and a multibillion-dollar investing firm centered on these surging economies that would, over time, supplant the West as engines of wealth and prosperity. The trend held for decades, but a few years ago van Agtmael and Alfred Bakker, a renowned European journalist, began seeing signs that the tide might be turning. For example, during a visit to an enormously successful chip company in Taiwan, the company's leaders told them that their American competitors were now eating their lunch. And Taiwan was not the only place giving them this message.Thus began a remarkable two-year journey to reassess the conventional wisdom that the United States and Europe are yesterday's story and to determine whether there something profound is happening that points the way to the creation of the next economy. In The Smartest Places on Earth, van Agtmael and Bakker present a truly hopeful and inspiring investigation into the emerging sources of a new era of competitiveness for America and Europe that are coming from unlikely places--those cities and areas once known as "rustbelts" that have, from an economic perspective, been written off. Take Akron, Ohio, whose economy for decades was dependent on industries such as tire manufacturing, a product now made cheaply elsewhere. In Akron and other such communities, a combination of forces--including visionary thinkers, government initiatives, start-ups making real products, and even big corporations--have succeeded in creating what van Agtmael and Bakker call a "brainbelt." These brainbelts depend on a collaborative work style that is unique to the societies and culture of America and Europe, since they involve levels of trust and freedom of thinking that can't be replicated elsewhere. They are producing products and technologies that are transforming industries such as vehicles and transportation, farming and food production, medical devices and health care.For several decades, American and European industry focused on cost by outsourcing production to those emerging markets that can make things cheaper. The tide has now turned toward being smart, as van Agtmael and Bakker report, and the next emerging market, may, in fact, be the West.

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Book SynopsisTimely, compelling, and certain to be controversiala deeply researched study that reveals how companies and policy makers are hindering innovation-led growth Conventional wisdom holds that Western economies are on the threshold of fast-and-furious technological development. Fredrik Erixon and Bjorn Weigel refute this idea, bringing together a vast array of data and case studies to tell a very different story. With expertise spanning academia and the business world, Erixon and Weigel illustrate how innovation is being hampered by existing government regulations and corporate practices. Capitalism, they argue, has lost its mojo. Assessing the experiences of global companies, including Nokia, Uber, IBM, and Apple, the authors explore three key themes: declining economic dynamism in Western economies; growing corporate reluctance to contest markets and innovate; and excessive regulation limiting the diffusion of innovation. At a time of low growth, high unemployment, and increasing income inequality, innovation-led growth is more necessary than ever. This book unequivocally details the obstacles hindering our future prosperity.Trade Review"Fredrik Erixon and Björn Weigel make a thought-provoking and refreshingly non-ideological argument that a bleak future lies ahead unless capitalism undergoes a shake-up."—Matthew Rees, Wall Street Journal"Erixon and Weigel know how to make their case seductive and entertaining. They describe the four horsemen of capitalist decline riding down innovation before it has any chance of reaching the wider world . . . liberally sprinkled with colourful examples . . . nourished with statistics. . . . The book is eloquent in laying out its thesis."—Peggy Hollinger, Financial Times"Faceless owners, risk-averse managers, globalisers and regulators are the villains of this book that challenges the idea that we are in an age of endless innovation. On the contrary, the authors point out, many innovations are more fun than fundamental."—Andrew Hill, "Best Books of 2016: Business," Financial Times"For a serious book of its kind on economics, one that attempts to bridge the divide between think-tank land and the general reader, The Innovation Illusion is unusually clear and leavened with popular culture references. The Smiths and James Joyce are both quoted. . . . This is an important book that diagnoses the extent of the economic problem and prescribes a strong dose of disruption."—Iain Martin, TimesEconomic stagnation afflicts the developed world, and the puzzle of slow productivity growth is the leading economic question of our age. Erixon and Weigel have developed a profoundly original and multi-faceted explanation rooted in the dead weight of corporate bureaucracy, with its striving for short-term profits and avoidance of risk, as well as government-created regulatory complexity and policy uncertainty. The book is concise, lively, full of examples, and deeply researched from sources that span economics and management science."Economic stagnation afflicts the developed world, and the puzzle of slow productivity growth is the leading economic question of our age. Erixon and Weigel have developed a profoundly original and multi-faceted explanation rooted in the dead weight of corporate bureaucracy, with its striving for short-term profits and avoidance of risk, as well as government-created regulatory complexity and policy uncertainty. The book is concise, lively, full of examples, and deeply researched from sources that span economics and management science."—Robert J. Gordon, Stanley G. Harris Professor in the Social Sciences, Northwestern University, and author of The Rise and Fall of American Growth Innovation is the life blood of the modern economy and our economies seem to be a litre or two short. This highly accessible book argues convincingly that the problems we are having with R&D is not the ‘R’ part, it is the ‘D’ part. We are not lacking invention, we are lacking the policy and competitive environment needed to turn new science into new, economically useful product and processes. This is an important and insightful read for all those concerned by big-picture economic problems."A very well written account of how corporate bureaucracy, rent-seeking and regulation are slowing the pace of innovation."—John Kay, Financial Times and author of Other People’s Money"Today's hidebound capitalism is throttling not just the west’s economic growth, but even the aspirations of its people. If dynamism is to be regained, argues this thought-provoking book, we must reject the rentier capitalism that masquerades as the real thing. This argument for a more dynamic market economy is not just challenging; it is also of huge importance."—Martin Wolf, Financial Times

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Book SynopsisHow do markets evolve? Why are some innovations picked up straightaway whilst others take years to be commercialized? Are there first-mover advantages? Why do we behave with ''irrational exuberance'' in the early evolution of markets as was the case with the dot.com boom? Paul Geroski is a leading economist who has taught economics to business school students, managers, and executives at the London Business School. In this book he explains in a refreshingly clear style how markets develop. In particular he stresses how the early evolution of markets can significantly shape their later development and structure. His purpose is to show how a good grasp of economics can improve managers'' business and investment decisions. Whilst using the development of the Internet as a case in point, Geroski also refers to other sectors and products, for example cars, television, mobile phones, and personal computers. This short book is an ideal introduction for managers, MBA students, and the general reader wanting to understand how markets evolve.Table of Contents1: Introduction 2: Where do new technologies come from? 3: The structure of new markets 4: Developing the new product design 5: The growth of the market 6: Into the future

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Book SynopsisSHORTLISTED FOR THE ORWELL PRIZE FOR POLITICAL WRITING 2019''A near miracle'' Ha-Joon Chang, author of 23 Things They Don''t Tell You About CapitalismAccording to the economy, we have never been wealthier or happier. So why doesn't it feel that way? The Growth Delusion explores how we prioritise growth maximisation without stopping to think about the costs. So much of what is important to our well-being, from safe streets to sound minds, lies outside the purview of statistics. In a book that is both thought-provoking and entertaining, David Pilling argues that our steadfast loyalty to growth is informing misguided policies, and proposes different criteria for measuring our success.Trade ReviewA most thoughtful and profound philosophical reflection on how we live our lives, organise our societies and shape the future of humanity. It should be compulsory reading for everyone who is interested in making the world a better place -- Ha-Joon Chang, author of '23 Things They Don't Tell You About Capitalism'A welcome antidote to the gospel according to GDP -- David Smith * Sunday Times *A witty, well-informed and well-travelled guide to our obsession with growth ... If he sometimes makes fun of measurement, he also makes measurement fun. A real achievement -- Angus Deaton, Winner of the Nobel Prize in EconomicsEngaging and enlightening, The Growth Delusion explains not only why the emperor has no clothes, but why he wasn’t really the emperor in the first place -- David Mitchell, author of 'Cloud Atlas'If you thought that GDP did not necessarily translate into increased welfare, David Pilling shows you convincingly why you were right. One of the Financial Times' most brilliant columnists, Pilling has produced a book that will become a classic -- Jagdish Bhagwati, author of 'Why Growth Matters' and 'In Defense of Globalization'Excellent. The argument for better ways of measuring prosperity is steadily gathering momentum -- Rohan Silva * Evening Standard *A rare beast: a book on economics that is well written, accessible and – whisper it – entertaining! Witty, widely travelled and well-informed, David Pilling is an excellent guide to the pitfalls and shortcomings of GDP and a trenchant exponent of the need to move beyond the ‘cult of growth’ * New Internationalist *Sharp and engaging ... Pilling argues that gross domestic product (GDP) is an arbitrary, oversimplified human invention that we slavishly follow, and growth is a modern "cult". Like all cults, it requires unquestioning allegiance - in this case the one-decimal-point figure produced by national statisticians every three months. Pilling, who has written about GDP from five continents over 20 years for the FT, started asking questions about the cult and couldn't stop ... Pilling is right that the spell needs to be broken ... Entertaining and well-argued -- Philip Aldrich * The Times *A surprisingly zippy book that has the potential to take a smart riposte of mindless growth into mainstream debate … Pilling isn’t afraid to make the well-worn criticisms of GDP, and does with clarity and force. But the real beauty of the book is how effortlessly he takes this argument a step further, demonstrating how GDP often makes no sense whatsoever, even taken on its own terms … A wonderful book … A surprisingly addictive page turner, capable of captivating the general reader on a subject known for making eyes glaze over … By injecting a credible dose of ambivalence into common assumptions about GDP he offers a very welcome entry into post-2008 economic writing * Resurgence Ecologist *Briskly and engagingly, David Pilling alerts us to our impoverished sense of reality in an age that has sacrificed quality to quantity. The Growth Delusion should be read by everyone who wants to make sense of the political earthquakes of our time -- Pankaj Mishra, author of 'Age of Anger'This is an excellent and timely book which should be mandatory reading for policymakers, economists, investors and, yes, journalists. It exposes the folly of our modern obsession with a narrow concept of economics and our reliance on gross domestic product data as a sign of well being - and does this in a lively, well written, and easy-to-understand way -- Gillian Tett, author of 'Fool's Gold' and 'The Silo Effect'Entertaining and well-argued -- Book of the Week * The Week *In The Growth Delusion Pilling makes an important yet complicated subject accessible to experts and non-experts alike. The book offers a most insightful and at times witty guide to the essential question: what precisely is economic growth for and how can it be harnessed to improve the lives of people in poor countries as well as rich ones? -- Kofi Annan, seventh Secretary-General of the United Nations and Winner of the Nobel Peace PrizeThis is a fascinating and extremely readable book which engagingly challenges many of our assumptions about what makes for a successful economy and a happy life -- Chris Patten, the last Governor of Hong Kong and author of 'East and 'West'What economics needs now, what we all need, are people who can bring it back to life. In The Growth Delusion Pilling does exactly that, charting the idea of economic growth from its birth to the present through countless vivid stories -- Joe Earle, author of 'The Econocracy'

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Book SynopsisAn essential companion for understanding the decision theory underlying artificial intelligence, how to model the impacts of artificial intelligence on economic growth, productivity, labour markets and inequality, and how to make sense of the debate whether AI poses an existential risk.

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Book SynopsisTrade ReviewGrand Transitions shows Vaclav Smil truly to be Bringing It All Back Home * John Roy Porter, Natures Sciences Sociétés *Vaclav Smil is my favorite author. * Bill Gates, GatesNotes *His book roams impressively around the globe and across five centuries as it asks big questions and searches for big answers. . . .His five-pack of grand transitions encompasses population, agriculture and diets, energy, economy, and environment. . . . anyone who hasn't read about these subjects since graduation will be awestruck by the amount of research that has gone into these vaguely familiar stories. Smil pulls recent studies together, throws in a few of his own, offers interpretive twists, and fills his account with delicious nuggets of information. (This book actually got me in trouble at home, as I kept asking my family, "Did you know..." about some gem of an anecdote.) * Andre Schmid, Literary Review of Canada *No one writes about the great issues of our time with more rigor or erudition than Vaclav Smil. Grand Transitions is at once sweeping, sobering, and profoundly informative. * Elizabeth Kolbert, author of The Sixth Extinction, winner of the Pulitzer Prize *An expert portrait of spectacular technical and economic advances that many in the 21st century enjoy but which exclude large segments of the population and are creating problems that may or may not be solvable. Ingenious, insightful, and disturbing. * Kirkus *Underpinned by mesmerizing data and deep analysis, Grand Transitions provides a clear and compelling framework for thinking about the future of energy, the environment, and the economy. A feast for anyone interested in the future of energy. A must read. * Atul Arya, Chief Energy Strategist, IHS Markit *Grand Transitions is the epitome of excellence in integrative systemic scientific analysis, anchored in a magisterial exploration of the main five transitions of mankind since civilizations emerged. And it provides a healthy antidote to the wishful thinking so prevalent today. Decision makers and the public should educate themselves with this authoritative evaluation, which will shape their decisions on how to ensure a harmonious, sustainable future for all. * Didier Sornette, Professor of Entrepreneurial Risks and Finance, ETH Zurich *For a generation, polymath Vaclav Smil has expounded on the big patterns in energy, food, and other means through which humans have transformed their environment. In Grand Transitions he has zoomed out even further to paint a picture of how the pieces fit together and to explain how the modern world works. In elegant prose with relentless attention to fact and reality-rare these days-he has written a masterpiece that forces you to think, disagree, wonder, and grapple with the accomplishments and challenges of today's industrial society. * David G. Victor, Professor of International Relations, University of California, San Diego *In Grand Transitions, Vaclav Smil reminds us of the fundamental point that the economy cannot be untethered from nature. Technological ingenuity has loosened the links, but the outlook for economic gains--or losses--is inextricably tied to the dynamics of population change, and of food and energy production. * Diane Coyle, Bennett Professor of Public Policy, University of Cambridge *Investing requires quantification of impact. But Vaclav Smil convincingly challenges the increased reliance on applying mathematical modelling to single-frame narratives. He steadily illustrates why such approaches seldom provide useful enough insights, as they tend to ignore technical constraints and biospheric limits. * Philippe Rohner, Pictet Asset Management *Smil offers a sweeping account of the deep material forces that have shaped the modern world... He tells a remarkable story of the human capacity to innovate, build, and integrate societies across vast distances. * Foreign Affairs *Smil is a conjurer with numbers. In Grand Transitions, he works to show just how thoroughly this is now a planet of our making--and how rapidly the transformation is still happening. * Washington Post *Table of Contents1. Epochal Transitions 2. Populations 3. Agricultures and Diets 4. Energies 5. Economies 6. Environment 7. Outcomes and Outlooks

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Book SynopsisWhen the pressure is on, many of the world''s top CEOs turn to McKinsey & Company to reinvent themselves and their organizations. The Journey of Leadership brings the experience of one of the world''s most influential consulting firms right to your fingertips.This book is the first-ever explanation of McKinsey''s step-by-step approach to transforming leaders both professionally and personally, including revealing lessons from its legendary CEO leadership program, The Bower Forum, which has counseled more than five hundred global CEOs over the past decade. It is a journey that helps leaders hone the psychological, emotional, and, ultimately, human attributes that result in success in today''s most demanding top job.Packed with insightful and never-before-heard reflections from leaders, including Ed Bastian (CEO of Delta Air Lines), Makoto Uchida (CEO of Nissan Motor Corporation), Mark Fields (former CEO of Ford Motor Company), Reeta Roy (CEO of Mastercar

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Book SynopsisThis short primer distils Ruchir Sharma''s decades of global analytic experience into ten rules for identifying nations that are poised to take off or crash.A wake-up call to economists who failed to foresee every recent crisis, including the cataclysm of 2008, 10 Rules is full of insights on signs of political, economic, and social change. Sharma explains, for example, why autocrats are bad for the economy; robots are a blessing, not a curse; and consumer prices don''t tell you all you need to know about inflation. He shows how currency crises begin with the flight of knowledgeable locals, not evil foreigners; how debt crises start in private companies, not government; and why the best news for any country is none at all.Rethinking economics as a practical art, 10 Rules is a must-read for business, political and academic leaders who want to understand the most important forces that shape a nation''s future.

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Book SynopsisThis book explores seven developing countries' use of technology to begin reforming the economy and government. Foregrounding the voices of policymakers and participants, it documents and critically assesses government efforts to kick-start digital transformation, and offers an exposition of the process of policymaking in the 2020s.Trade ReviewA great read for any political leader or bureaucrat looking to transform their government's digital economy. It is useful to understand what it really takes to support emerging countries who want to establish a digital public infrastructure. * Nandan Nilekani, Chairman and Co-Founder, Infosys and Founding Chairman, UIDAI *Benno saw the huge potential of the digital economy for Africa and devoted the last years of his life tirelessly working to get countries to adopt it. Many countries have begun taking up the technology but fail to adopt a whole of systems approach. Benno would I think have wanted fellow policy makers to learn from the lessons of some of the earlier adopters and what they got right - and wrong. * Vera Songwe, Senior Non-Resident Fellow, Brookings Institution and former Executive Secretary UN Economic Commission for Africa *An absolute gem for policymakers who want to turn their digital transformation aspirations into reality. The writing is refreshingly clear and devoid of jargon, making it a breeze to follow. The authors offer invaluable practical insights based on the experiences of a group of countries that have successfully navigated this complex journey. And what's more, this book doesn't shy away from the pitfalls and challenges you may encounter along the way. It's an honest, straight-talking guide that will leave you feeling inspired and confident to take action. * Jean Philbert Nsengimana, Chair, Global Digital Inclusion Partnership and Chief Digital Advisor, Centres for Disease Control Africa *This book is timely as it deals with such an important topic for my country and for many others in sub Saharan Africa and beyond. The book shows that the continent has an opportunity to fully benefit from greater digital transformation reforms, further than payment systems. Throughout, the book pays particular attention to context and respecting inclusion of multi-stakeholders in the process. Driving Digital Transformation tells us how to do this, not through giving instructions, but instead by sharing the lessons learned from other policymakers. * Blandina Kilama, Economic advisor to President Suluhu, Republic of Tanzania *Where clear measures of digital success and failure are sometimes lacking, the authors offer a full treatment of diagnosing and evaluating digital readiness. The rigorous focus on the nuances of implementation, especially in the book's Digital Economy Kit and strategy primer, make this critical reading for both scholars and practitioners! * Aaron Maniam, Deputy Secretary (Industry & International), Ministry of Communications and Information, Singapore *Table of ContentsAcknowledgements Preface: Remembering Benno Ndulu Abbreviations and acronyms 1: Introduction to the Digital Economy Kit 2: Seizing opportunity for digital reform 3: Objectives: What is the Digital Economy Kit trying to do? 4: Assessment: Data and diagnostics 5: Multi-stakeholder dialogue 6: Strategy primer 7: A critical view on implementation 8: Conclusion References Index

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Book SynopsisTrade ReviewGrand Transitions shows Vaclav Smil truly to be Bringing It All Back Home * John Roy Porter, Natures Sciences Sociétés *Vaclav Smil is my favorite author. * Bill Gates, GatesNotes *His book roams impressively around the globe and across five centuries as it asks big questions and searches for big answers. . . .His five-pack of grand transitions encompasses population, agriculture and diets, energy, economy, and environment. . . . anyone who hasn't read about these subjects since graduation will be awestruck by the amount of research that has gone into these vaguely familiar stories. Smil pulls recent studies together, throws in a few of his own, offers interpretive twists, and fills his account with delicious nuggets of information. (This book actually got me in trouble at home, as I kept asking my family, "Did you know..." about some gem of an anecdote.) * Andre Schmid, Literary Review of Canada *No one writes about the great issues of our time with more rigor or erudition than Vaclav Smil. Grand Transitions is at once sweeping, sobering, and profoundly informative. * Elizabeth Kolbert, author of The Sixth Extinction, winner of the Pulitzer Prize *An expert portrait of spectacular technical and economic advances that many in the 21st century enjoy but which exclude large segments of the population and are creating problems that may or may not be solvable. Ingenious, insightful, and disturbing. * Kirkus *Underpinned by mesmerizing data and deep analysis, Grand Transitions provides a clear and compelling framework for thinking about the future of energy, the environment, and the economy. A feast for anyone interested in the future of energy. A must read. * Atul Arya, Chief Energy Strategist, IHS Markit *Grand Transitions is the epitome of excellence in integrative systemic scientific analysis, anchored in a magisterial exploration of the main five transitions of mankind since civilizations emerged. And it provides a healthy antidote to the wishful thinking so prevalent today. Decision makers and the public should educate themselves with this authoritative evaluation, which will shape their decisions on how to ensure a harmonious, sustainable future for all. * Didier Sornette, Professor of Entrepreneurial Risks and Finance, ETH Zurich *For a generation, polymath Vaclav Smil has expounded on the big patterns in energy, food, and other means through which humans have transformed their environment. In Grand Transitions he has zoomed out even further to paint a picture of how the pieces fit together and to explain how the modern world works. In elegant prose with relentless attention to fact and reality-rare these days-he has written a masterpiece that forces you to think, disagree, wonder, and grapple with the accomplishments and challenges of today's industrial society. * David G. Victor, Professor of International Relations, University of California, San Diego *In Grand Transitions, Vaclav Smil reminds us of the fundamental point that the economy cannot be untethered from nature. Technological ingenuity has loosened the links, but the outlook for economic gains--or losses--is inextricably tied to the dynamics of population change, and of food and energy production. * Diane Coyle, Bennett Professor of Public Policy, University of Cambridge *Investing requires quantification of impact. But Vaclav Smil convincingly challenges the increased reliance on applying mathematical modelling to single-frame narratives. He steadily illustrates why such approaches seldom provide useful enough insights, as they tend to ignore technical constraints and biospheric limits. * Philippe Rohner, Pictet Asset Management *Smil offers a sweeping account of the deep material forces that have shaped the modern world... He tells a remarkable story of the human capacity to innovate, build, and integrate societies across vast distances. * Foreign Affairs *Smil is a conjurer with numbers. In Grand Transitions, he works to show just how thoroughly this is now a planet of our making--and how rapidly the transformation is still happening. * Washington Post *Table of Contents1. Epochal Transitions 2. Populations 3. Agricultures and Diets 4. Energies 5. Economies 6. Environment 7. Outcomes and Outlooks

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Book SynopsisThis collection provides an overview of India's growth experience from Independence to the recent global financial crisis from the perspective of financial economics. With a focus on growth drivers and financial stability, the volume analyses both macroeconomic and microeconomic policy reforms and suggests strategies for the future.Table of ContentsTables and Figures; Acknowledgements; Introduction; I Indian Economic Growth: The Record; 1. Growth Record of the Indian Economy, 1950-2008: A Story of Sustained Savings and Investment; 2. The Role of Fiscal and Monetary Policies in India in Sustaining Growth with Stability in India; II Growth and the Financial Sector; 3. Financial Sector Development in India: Fostering Growth While Containing Risk; 4. Development of the Indian Debt Market; 5. Financial Inclusion in India: A Glass Half Empty or Three Quarters Full?; 6. Innovation and Growth: Role of the Financial Sector; III Issues in Monetary Policy; 7. Communications in Central Banks; 8. Managing the Impossible Trinity: Volatile Capital Flows and Indian Monetary Policy; IV The Global Financial Crisis; 9. Liberalization and Regulation of Capital Flows: Lessons for Emerging Market Economies; 10. The Global Financial Crisis: Causes, Impact, Policy Responses and Lessons; 11. Emerging Contours of Financial Regulation; V The Way Ahead; 12. Economic Reforms in India: Where Are We and Where Do We Go; Index

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Book SynopsisAccelerating processes of economic globalization have fundamentally reshaped the organization of the global economy towards much greater integration and functional interdependence through cross-border economic activity. In this interconnected world system, a new form of economic organization has emerged: Global Production Networks (GPNs). This brings together a wide array of economic actors, most notably capitalist firms, state institutions, labour unions, consumers and non-government organizations, in the transnational production of economic value. National and sub-national economic development in this highly interdependent global economy can no longer be conceived of, and understood within, the distinct territorial boundaries of individual countries and regions. Instead, global production networks are organizational platforms through which actors in these different national or regional economies compete and cooperate for a larger share of the creation, transformation, and capture of Trade ReviewCoe and Yeungs Global Production Networks is a significant addition to the diverse and rapidly growing literature on international economic development . . . The book contains numerous insights and hypotheses that can guide future empirical research, and it is likely to both sharpen theoretical debates and offer grounds for constructive dialogue among the many scholars who look at economic development through the lens of inter-firm production networks. * Gary Gereffi, Professor of Sociology and Director of the Center on Globalization, Governance & Competitiveness, Duke University *This book provides an important contribution to analysis of the growing complexity of global production networks. It is published at a key juncture given rapid expansion of consumer end-markets within the global South. Its exploration of the implications for uneven economic development is essential for assessing varied strategic options facing diverse actors in the contemporary global economy. * Stephanie Barrientos, Professor of Global Development, University of Manchester *This book is a major and original contribution to the study of the global economy, and unique in the ways in which it provide a rigorous conceptual map of the dynamic and geographical complexities of the current global economy. It is, by far, the fullest and most significant book on global production networks to date. It is a major achievement and will be an important work in economic geography and economic sociology. * John Pickles, Earl N. Phillips Distinguished Professor of International Studies, University of North Carolina at Chapel Hill 20/04/15 *Given the absence of a book-length treatment of GPN's by the extant literature, the value-add offered by Coe and Yeung in terms of delineating unified casual explainations for the rise and persistence of GPN's is timely and noteworthy. Across its six chapters, the book is cognizant of complementary aproaches, and seeks to inform subsequent empirical exploration by attempting conceptual development of the GPN framework. Coe and Young proceed to profile the actors involved in GPN's as well as the characteristics of these networks in Chapter 2. This is a key strength of the book, where the role of actors ex-firms such as the state, international organisations, and intermediaries are acknowledged and scrutinised for their impact on overall firm activity. Coe and Yeung have done an excellent job in illuminating a fundamental puzzle involving the evolution of production in the world economy, even as they develop a coherent theory of GPN's.Table of Contents1. Global production networks 2.0 ; 2. Organization ; 3. Dynamics ; 4. Strategies ; 5. Development ; 6. Praxis

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Book SynopsisLatin America is attracting increasing interest due to the strong economic performance of the last decade and to the political changes that are taking place. This book gives a unique, comprehensive, and up to date view of Latin America economic development over the two centuries since Independence. It considers Latin American economies within the wider context of the international economy, and covers economic growth, international trade, capital flows, and trends in inequality and human development. With chapters that cover different eras, it traces the major developments of Latin American countries and offers a novel and coherent interpretation of the economic history of the region. It combines a wealth of original research, new perspectives, and empirical information to provide a synthesis of the growing literature that both complements and extends previous studies.Trade ReviewThe development failures and challenges of Latin America today are deeply rooted in its past. This lucid and authoritative book by two of the continents leading scholars is the place to start to understand how that past was formed and has evolved to shape the present in all its complexity. Indispensable. * James Robinson, David Florence Professor of Government, Harvard University *A superb study of two centuries of Latin American economic history, bringing together fresh data and modern development thinking. For the first time we can track the shifts in inequality over time, while the global context and the instability it causes are brilliantly handled. The country variations are delicately traced but never at the expense of the overall pattern. * Rosemary Thorp, Oxford University *Bértola and Ocampo have written the most up-to-date synthesis of the economic history of Latin America. The authors write with vigor and clarity on the leading issues that dominate current debates on the long-run development of Latin America, including convergence and divergence, income distribution, the institutional framework and instability. They base their findings on an impressive set of historical data covering all countries in different time periods. This book is destined to become not only the basic textbook on Latin American economic history but also an excellent platform for intellectual discussions on the challenges for development in historical perspective. * Carlos Marichal, El Colegio de México *Bértola and Ocampo have produced a penetrating, original, and clear-headed economic history of Latin America from Independence to 21st century globalization. Indispensable reading for understanding Latin Americas late development, historic inequalities, evolving institutions, and contemporary economic challenges, all brilliantly compressed into a single volume. * John Coatsworth, Provost, Columbia University *This is a welcome addition to our understanding of Latin America's economic history since independence. ... this book demonstrates how much progress has been made in the last few decades in terms of our understanding. * Victor Bulmer-Thomas, Journal of Latin American Studies *Table of ContentsForeword ; 1. Latin America in the World Economy, 1810-2010 ; 2. The Economic History of the Young Independent Republics, 1810-1870 ; 3. Globalization, Institution-building, and Commodity-export-led Growth, c. 1870-1929 ; 4. State-led Industrialization ; 5. Turning Back to the Market ; 6. By Way of Conclusion: The History and Challenges of Latin American Development

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Book SynopsisExplores the relationship between economic conditions, growth, and inequality, with a focus on how the monopolization of resources by the political elite limits incentives for ordinary people to invest in human capital or technological discovery.

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Book SynopsisExplains how a country's institutional differences and cultural considerations can affect the role that entrepreneurs play in its economy. This book develops an understanding of the origins of entrepreneurs as well as the choices they make and the complexity of their activities across countries and industries.

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Book SynopsisThis volume presents studies from experts in twelve industries, providing insights into the future role of innovation and entrepreneurship in driving economic growth across sectors. We live in an era in which innovation and entrepreneurship seem ubiquitous, particularly in regions like Silicon Valley, Boston, and the Research Triangle Park. But many metrics of economic growth, such as productivity growth and business dynamism, have been at best modest in recent years. The resolution of this apparent paradox is dramatic heterogeneity across sectors, with some industries seeing robust innovation and entrepreneurship and others seeing stagnation. By construction, the impact of innovation and entrepreneurship on overall economic performance is the cumulative impact of their effects on individual sectors. Understanding the potential for growth in the aggregate economy depends, therefore, on understanding the sector-by-sector potential for growth. This insight motivates the twelve studiesTable of ContentsAcknowledgmentsIntroduction: Beyond 140 Characters Michael J. Andrews, Aaron K. Chatterji, and Scott Stern I. Productivity Drivers1. The “Weighty” Manufacturing Sector: Transforming Raw Materials into Physical Goods Erica R. H. Fuchs, Christophe Combemale, Kate S. Whitefoot, and Britta Glennon2. Concentration and Agglomeration of IT Innovation and Entrepreneurship: Evidence from Patenting Chris Forman and Avi Goldfarb3. Innovation, Growth, and Structural Change in American Agriculture Julian M. Alston and Philip G. PardeyComment: Brian Davern Wright4. Innovation and Entrepreneurship in the Energy Sector David Popp, Jacquelyn Pless, Ivan Haščič, and Nick Johnstone II. The On-Demand Economy5. What’s Driving Entrepreneurship and Innovation in the Transportation Sector? Derrick Choe, Alexander Oettl, and Rob SeamansComment: Gilles Duranton6. The Recent Evolution of Physical Retail Markets: Online Retailing, Big Box Stores, and the Rise of Restaurants Francine Lafontaine and Jagadeesh SivadasanComment: Emek Basker7. The Servicification of the US Economy: The Role of Startups versus Incumbent Firms Mercedes Delgado, J. Daniel Kim, and Karen G. MillsComment: Sharat Ganapati8. Digitization and Its Consequences for Creative-Industry Product and Labor Markets Joel WaldfogelComment: Gustavo Manso III. The Cost Disease Sectors9. Innovation in the US Government Joshua R. Bruce and John M. de FigueiredoComment: Manuel Trajtenberg10. Venture Capital–Led Entrepreneurship in Health Care Amitabh Chandra, Cirrus Foroughi, and Lauren Mostrom11. Innovation and Entrepreneurship in Housing Edward KungComment: Jessie Handbury12. Education and Innovation Barbara Biasi, David Deming, and Petra MoserComment: Eleanor Wiske DillonPanel Remarks: Creating “Smart” Policy to Promote Entrepreneurship and Innovation Karen G. Mills and Annie V. DangPanel Remarks: Measuring Business Innovation Using a Multidimensional Approach Lucia Foster13. Where Innovation Happens, and Where It Does Not Benjamin F. Jones Contributors Author Index Subject Index

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Book SynopsisGovernance, Conflict, and Natural Resources in Africa puts forward a novel framework for understanding the role of private economic actors in extractive industries in Africa and sheds new light on foreign private-sector contributions to capacity building and economic development.Trade Review"This ambitious book helps us better understand how firms that extract Africa's natural resources contribute to economic development. Governance, Conflict, and Natural Resources in Africa offers comparative case studies that shed new light on the potential for foreign investors to build capacity in stable, fragile, and post-conflict states. The book's detailed coverage of governance realities 'on the ground' is informative and engaging." Adam Sneyd, University of Guelph and author of Politics Rules: Power, Globalization and Development

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Book SynopsisGovernance, Conflict, and Natural Resources in Africa puts forward a novel framework for understanding the role of private economic actors in extractive industries in Africa and sheds new light on foreign private-sector contributions to capacity building and economic development.Trade Review"This ambitious book helps us better understand how firms that extract Africa's natural resources contribute to economic development. Governance, Conflict, and Natural Resources in Africa offers comparative case studies that shed new light on the potential for foreign investors to build capacity in stable, fragile, and post-conflict states. The book's detailed coverage of governance realities 'on the ground' is informative and engaging." Adam Sneyd, University of Guelph and author of Politics Rules: Power, Globalization and Development

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Book SynopsisANDREW GAMBLE is Professor and Head of Department of Politics, University of Cambridge. His many books include Britain in Decline, The Free Economy and the Strong State and Between Europe and America also published by Palgrave Macmillan. He is a Fellow of the British Academy and the Academy of Social Sciences and was awarded the Sir Isaiah Berlin Prize for Lifetime Contribution to Political Studies by the UK Political Studies Association in 2005.

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Book SynopsisThis book examines how to promote industrial development in low-income countries. It considers the role of traders in the evolution of a cluster, the role of managerial human capital, the effect of the 'China shock', and the role of industrial policies focused on international knowledge transfer in supporting the upgrading of clusters.Table of ContentsIntroduction: Scope and Significance of the Study PART I: THE ROLE OF TRADERS IN CLUSTER DEVELOPMENT Overseas Vietnamese Traders in a Garment Cluster in Vietnam Petty Traders in a Garment Cluster in Kenya PART II: THE ROLE OF MANAGERIAL HUMAN CAPITAL IN THE UPGRADING PROCESS The Product Ladder in the Steel-Bar Industry in Vietnam The Move to the Formal Sector in the Metalwork Industry in Kenya PART III: THE CHINA SHOCK AND QUALITY IMPROVEMENT The Coping Strategy of the Electrical Fittings Industry in Pakistan The V-Shaped Growth in the Leather Shoe Industry in Ethiopia PART IV: THE SUCCESS AND FAILURE OF INDUSTRIAL DEVELOPMENT STRATEGIES International Knowledge Transfer in a Garment Cluster in Bangladesh Misfired Promotion of the Export-Oriented Garment Industry in Ethiopia Conclusion: Towards the Design of Effective Industrial Development Policies

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Book SynopsisTrade ReviewThe Nature of Value is a well-reasoned, thought-provoking book that belongs in the library of every investor, professional and retail, value and growth. Reading the Markets Blog [Gogerty's] arguments will stretch the reader's investment intellect. Library Journal Gogerty... provides considerable sound advice to individual investors and professional capital allocators. The volume is packed with interesting information and questions serious investors should ask themselves, such as when and how a firm's earnings stream will ultimately die. CHOICE Lucid and thought-provoking... The Nature of Value will help all investors attain a more robust understanding of the dynamics that create and sustain value. Financial Analysts JournalTable of ContentsPreface Part I: Value 1. The Problem with Price? It's Not Value 2. Value and Why It Matters 3. The Theory of Value Part II: Inos 4. Knowledge and Innovation 5. How Innovative Capabilities Enable Value Creation 6. Allocating to Firms with a Unique Capability Mix Part III: Clusters 7. Birth and Growth of Clusters 8. Cluster Convergence, Maturation, and Death 9. Stable and Unstable Clusters Part IV: Moats 10. The Value of Moats 11. How Moats Affect Cost, Competition, and Customer Forces 12. Managing Moats, for Value Creation Today and Wealth Tomorrow Part V: The Economy 13. The Economy as a Macroprocessing Network 14. Monetary Shocks and Their Implications for the Allocator Part VI: The Nature of Value 15. The Nature of Value Allocation 16. Conclusion Notes Index

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Book SynopsisThree International Monetary Fund economists show that the increase in inequality has been a political choiceand explain what policies we should choose instead to achieve a more inclusive economy. Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.Trade ReviewThis book shows that, far from being either necessary or good for growth, inequality leads to weaker economic performance. Moreover, increases in inequality have been a choice, not an unexpected outcome. The extent of inequality depends very much on the policies governments chose. These conclusions come from careful research conducted over several years. This book’s message is simple: societies are free to choose policies that will deliver more inclusive growth. -- From the foreword by Joseph Stiglitz, Nobel Laureate in EconomicsThe IMF has been an unlikely accompaniment to the chorus of voices speaking out against increasing inequality, influenced primarily by the work of these authors. Here they explain why concerns about income distribution should be more central to policy making, and why the world will be better off for it. Backed by sensible empirical work, their arguments deserve to be read and discussed widely. -- Raghuram G. Rajan, University of Chicago Booth School of BusinessOstry, Loungani, and Berg have done some of the best empirical research on globalization, inequality, and economic growth. This book not only brings the work together, but also sets out a rich policy agenda on inclusive growth. Confronting Inequality should be on the shelf of everyone who wants to understand the future of our economies. -- Dani Rodrik, Harvard UniversityWe must move from assessing the effects of economic policies only on growth to assessing their effect on both growth and inequality. Some growth policies also decrease inequality, others increase it. Understanding the effects of specific policies, be it structural reforms or macroeconomic policies, is of the essence, and this book represents an important start at addressing the issue. -- Olivier Blanchard, senior fellow, Peterson Institute for International Economics, and former chief economist, International Monetary FundThe book provides a rigorous and pragmatic argument for why income inequality is a threat to sustained economic growth and what policies should be used to address it. Coming from the top IMF economists, this new approach may herald a major change in global policies such that attention is paid to both growth and equality. -- Branko Milanović, The Graduate Center, CUNYBuilding on years of research conducted by the authors at the International Monetary Fund, Ostry, Loungani, and Berg tell a compelling story—in a pithy, accessible way—about how inequality hurts economic growth and stability and how to design policies to deliver a more inclusive growth. -- Heather Boushey, executive director and chief economist, Washington Center for Equitable GrowthConfronting Inequality is a valuable primer on one of the central issues of the present day. Ostry, Loungani, and Berg make a powerful argument that inequality has economic, social, and political effects that slow economic growth—and they suggest a menu of sensible policies to make the world a better, fairer, and more prosperous place. A cogent and concise summary of what we know about inequality and about how to reduce it. -- Jeffry Frieden, Harvard UniversityTable of ContentsForeword, by Joseph E. StiglitzPreface1. Introduction2. Inequality: Measures and Drivers3. Inequality and Sustained Growth4. Structural Policies and Inequality5. Financial Globalization and Inequality6. Austerity and Inequality7. Central Banks and Inequality8. Technology, Robots, and Inequality9. Remedies for Inequality—Redistribution10. ConclusionsData AppendixTechnical AppendixGlossaryReferencesIndex

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Book SynopsisThree International Monetary Fund economists show that the increase in inequality has been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy. Confronting Inequality is a rigorous and empirically rich book that is crucial for a time when many fear a new Gilded Age.Trade ReviewThis book shows that, far from being either necessary or good for growth, inequality leads to weaker economic performance. Moreover, increases in inequality have been a choice, not an unexpected outcome. The extent of inequality depends very much on the policies governments chose. These conclusions come from careful research conducted over several years. This book’s message is simple: societies are free to choose policies that will deliver more inclusive growth. -- From the foreword by Joseph Stiglitz, Nobel Laureate in EconomicsThe IMF has been an unlikely accompaniment to the chorus of voices speaking out against increasing inequality, influenced primarily by the work of these authors. Here they explain why concerns about income distribution should be more central to policy making, and why the world will be better off for it. Backed by sensible empirical work, their arguments deserve to be read and discussed widely. -- Raghuram G. Rajan, University of Chicago Booth School of BusinessOstry, Loungani, and Berg have done some of the best empirical research on globalization, inequality, and economic growth. This book not only brings the work together, but also sets out a rich policy agenda on inclusive growth. Confronting Inequality should be on the shelf of everyone who wants to understand the future of our economies. -- Dani Rodrik, Harvard UniversityWe must move from assessing the effects of economic policies only on growth to assessing their effect on both growth and inequality. Some growth policies also decrease inequality, others increase it. Understanding the effects of specific policies, be it structural reforms or macroeconomic policies, is of the essence, and this book represents an important start at addressing the issue. -- Olivier Blanchard, senior fellow, Peterson Institute for International Economics, and former chief economist, International Monetary FundThe book provides a rigorous and pragmatic argument for why income inequality is a threat to sustained economic growth and what policies should be used to address it. Coming from the top IMF economists, this new approach may herald a major change in global policies such that attention is paid to both growth and equality. -- Branko Milanović, The Graduate Center, CUNYBuilding on years of research conducted by the authors at the International Monetary Fund, Ostry, Loungani, and Berg tell a compelling story—in a pithy, accessible way—about how inequality hurts economic growth and stability and how to design policies to deliver a more inclusive growth. -- Heather Boushey, executive director and chief economist, Washington Center for Equitable GrowthConfronting Inequality is a valuable primer on one of the central issues of the present day. Ostry, Loungani, and Berg make a powerful argument that inequality has economic, social, and political effects that slow economic growth—and they suggest a menu of sensible policies to make the world a better, fairer, and more prosperous place. A cogent and concise summary of what we know about inequality and about how to reduce it. -- Jeffry Frieden, Harvard UniversityTable of ContentsForeword, by Joseph E. StiglitzPreface1. Introduction2. Inequality: Measures and Drivers3. Inequality and Sustained Growth4. Structural Policies and Inequality5. Financial Globalization and Inequality6. Austerity and Inequality7. Central Banks and Inequality8. Technology, Robots, and Inequality9. Remedies for Inequality—Redistribution10. ConclusionsData AppendixTechnical AppendixGlossaryReferencesIndex

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Book SynopsisNicholas Jepson shows how Chinese demand not only transformed commodity markets but also provided resource-rich states with the financial leeway to set their own policy agendas. He combines analysis of China-led structural change with fine-grained detail on how the boom played out across fifteen different resource-rich countries.Trade ReviewIn China's Wake is a bold and thorough piece of research in the tradition of ‘big picture’ global political economy. Steered by a theoretical framework, it weaves together China’s soaring demand for commodities; the boom in global markets for metals, fuels, and agricultural products; and development trajectories in resource-rich economies. The result is a fascinating contribution to development studies. -- Robert H. Wade, London School of Economics and Political ScienceThe commodity boom driven by China’s demand has come and gone. Yet Nicholas Jepson shows that this boom transformed the developmental landscape of natural resource exporters forever. In China’s Wake is the most comprehensive account to date of the different responses to the boom across the global South and their consequences. It is an incisive introduction to the post-neoliberal, post-China world of development. -- Ho-fung Hung, author of The China Boom: Why China Will Not Rule the WorldThis is an excellent book about China’s rise and its major ramifications for developing countries. Focusing on the role of commodities exports, Jepson employs a thoughtful, carefully honed analytical approach. He further adds quantitative analyses and fieldwork interviews. This book makes an important contribution to development studies. -- Jan Nederveen Pieterse, author of Multipolar Globalization: Emerging Economies and DevelopmentAmong the excellent books that explore the consequences of China’s externalization for the global South, In China’s Wake is perhaps the best. Theoretically robust and empirically rich, it engages with the implications of China-driven shifts in global market conditions for the development trajectories of fifteen countries across four world-regions. This is a path-breaking and stunningly original contribution that substantially advances our understanding of China’s relation to global transformation. -- Jeffrey Henderson, professor emeritus of international development, University of BristolWhile much of today’s China scholarship focuses on the negative impact of China’s growing technological and economic power on other countries, this important book looks at the other side of the argument: how China’s break with neoliberal orthodoxy benefited resource-rich countries, particularly during the boom period of commodity exports. This balanced account is a must-read for anyone interested in China’s global role with developing countries. -- Richard P. Appelbaum, coauthor of Innovation in China: Challenging the Global Science and Technology SystemHighly recommended * Choice *Table of ContentsList of Figures and TablesAcknowledgmentsList of AbbreviationsIntroduction1. World Markets in China’s Wake2. Natural Resources and Development Under Shifting Global Regimes3. The Rise of China as a Necessary Condition for Post-Neoliberal Breaks4. A Typology of Political-Economic Trajectories Under Commodity Boom Conditions5. Neodevelopmentalist Type: Argentina and Brazil6. Extractivist-Redistributive Type: Ecuador, Bolivia, and Venezuela7. Extractivist-Oligarchic Type: Angola and Kazakhstan8. Donor-Dependent Orthodoxy Type: Zambia, Laos, and Mongolia9. Homegrown Orthodoxy Type: Jamaica, Peru, South Africa, Colombia, and Indonesia10. China and Global TransformationAppendix: Research Design—Qualitative Comparative Analysis and InterviewsNotesBibliographyIndex

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Book SynopsisNicholas Jepson shows how Chinese demand not only transformed commodity markets but also provided resource-rich states with the financial leeway to set their own policy agendas. He combines analysis of China-led structural change with fine-grained detail on how the boom played out across fifteen different resource-rich countries.Trade ReviewIn China's Wake is a bold and thorough piece of research in the tradition of ‘big picture’ global political economy. Steered by a theoretical framework, it weaves together China’s soaring demand for commodities; the boom in global markets for metals, fuels, and agricultural products; and development trajectories in resource-rich economies. The result is a fascinating contribution to development studies. -- Robert H. Wade, London School of Economics and Political ScienceThe commodity boom driven by China’s demand has come and gone. Yet Nicholas Jepson shows that this boom transformed the developmental landscape of natural resource exporters forever. In China’s Wake is the most comprehensive account to date of the different responses to the boom across the global South and their consequences. It is an incisive introduction to the post-neoliberal, post-China world of development. -- Ho-fung Hung, author of The China Boom: Why China Will Not Rule the WorldThis is an excellent book about China’s rise and its major ramifications for developing countries. Focusing on the role of commodities exports, Jepson employs a thoughtful, carefully honed analytical approach. He further adds quantitative analyses and fieldwork interviews. This book makes an important contribution to development studies. -- Jan Nederveen Pieterse, author of Multipolar Globalization: Emerging Economies and DevelopmentAmong the excellent books that explore the consequences of China’s externalization for the global South, In China’s Wake is perhaps the best. Theoretically robust and empirically rich, it engages with the implications of China-driven shifts in global market conditions for the development trajectories of fifteen countries across four world-regions. This is a path-breaking and stunningly original contribution that substantially advances our understanding of China’s relation to global transformation. -- Jeffrey Henderson, professor emeritus of international development, University of BristolWhile much of today’s China scholarship focuses on the negative impact of China’s growing technological and economic power on other countries, this important book looks at the other side of the argument: how China’s break with neoliberal orthodoxy benefited resource-rich countries, particularly during the boom period of commodity exports. This balanced account is a must-read for anyone interested in China’s global role with developing countries. -- Richard P. Appelbaum, coauthor of Innovation in China: Challenging the Global Science and Technology SystemHighly recommended * Choice *Table of ContentsList of Figures and TablesAcknowledgmentsList of AbbreviationsIntroduction1. World Markets in China’s Wake2. Natural Resources and Development Under Shifting Global Regimes3. The Rise of China as a Necessary Condition for Post-Neoliberal Breaks4. A Typology of Political-Economic Trajectories Under Commodity Boom Conditions5. Neodevelopmentalist Type: Argentina and Brazil6. Extractivist-Redistributive Type: Ecuador, Bolivia, and Venezuela7. Extractivist-Oligarchic Type: Angola and Kazakhstan8. Donor-Dependent Orthodoxy Type: Zambia, Laos, and Mongolia9. Homegrown Orthodoxy Type: Jamaica, Peru, South Africa, Colombia, and Indonesia10. China and Global TransformationAppendix: Research Design—Qualitative Comparative Analysis and InterviewsNotesBibliographyIndex

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Book SynopsisAn interdisciplinary group of prominent scholars scrutinizes how the rules of global economic governance—or the lack thereof—determine the extent and growth of inequality. With a focus on achievable reforms, this book offers concrete steps capable of counteracting inequitable wealth distribution and bringing about fairer economic growth.Trade ReviewExisting structures of global economic governance–institutions and rules embedded in history–are inequitable. Such unfair rules produce unequal outcomes. This bold book, which challenges conventional wisdom, brings together engaging essays at the intersection of economics, politics, and law. It shows how these rules accentuate inequalities between and within countries. And it makes a most valuable contribution by suggesting reforms that are both desirable and feasible. -- Deepak Nayyar, Jawaharlal Nehru University, New DelhiInternational Policy Rules and Inequality is a landmark volume. It diagnoses the ways in which present international rules or the lack of them cause increased inequalities within countries, and it proposes practical revisions that can enhance the bargaining power of the less advantaged, restore national sovereignty, and otherwise reverse this tendency. -- Sanjay Reddy, the New SchoolIncome and wealth inequalities are now back in the center of intense public debate on economic issues. Yet there is a gap in the discussion: the link between global structures and national inequalities. This book fills this vacuum admirably. It shows how various international agreements lead to income inequalities not only at the global level but also at the national and local levels. The book will be especially useful for political leaders and policy makers in developing countries, who often do not know the implications of the agreements they sign. It also provides useful suggestions on how to tackle this major problem. -- Martin Khor, advisor, Third World Network, and former executive director, South CentreTable of Contents1. International Policy Rules and Inequality: Implications for Global Economic Governance, by José Antonio Ocampo2. National Inequalities and the Political Economy of Global Financial Reform, by Eric Helleiner3. Are New Economic Policy Rules Desirable to Mitigate Rising National Inequalities?, by Jonathan D. Ostry, Prakash Loungani, and Davide Furceri4. The Impact of Foreign Investor Protections on Domestic Inequality, by Manuel F. Montes5. Investment Treaties, Investor-State Dispute Settlement, and Inequality: How International Rules and Institutions Can Exacerbate Domestic Disparities, by Lise Johnson and Lisa Sachs6. Capital Openness and Income Inequality: Smooth Sailing or Troubled Waters?, by Kevin P. Gallagher, Guillermo Lagarda, and Jennifer Linares7. Intellectual Property: A Regulatory Constraint to Redress Inequalities, by Carlos M. Correa8. The Frustrated TPP and New Challenges for the Global Governance of Trade and Investment, by Osvaldo Rosales9. The Effects of International Tax Competition on National Income Distribution, by Valpy FitzGerald and Erika Dayle SiuContributorsIndex

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Book SynopsisThis book brings together prominent international contributors to consider a range of questions concerning the quality of growth in Africa. Offering both diagnoses and prescriptions, The Quality of Growth in Africa helps envision a future that goes beyond increasing GDP to ensuring that growth translates into improvements in well-being.Trade ReviewHow can so many decades of economic growth yield so little equity, so few decent jobs, and only limited and disorderly structural transformation? Ravi Kanbur, Akbar Noman, and Joseph E. Stiglitz, some of the leading economists of our time, have assembled a dream team of contributors to break new ground on the diagnostic. This sparkling book provides a practical roadmap to prosperity and a blueprint to help Africa reclaim its rightful place in the world. -- Célestin Monga, vice president and chief economist, African Development Bank GroupThe Quality of Growth in Africa provides timely and authoritative reviews of the challenges, opportunities, and approaches for achieving inclusive and sustainable growth in Africa—a continent with a burgeoning young population and significant difficulties for realizing the UN’s Sustainable Development Goals. It is essential reading for scholars and policy makers in Africa and the global development community. -- Justin Yifu Lin, Peking University and former chief economist of the World BankIn this timely and welcome volume, the contributors bring a myriad of crucial issues—levels of inequality, the quality and quantity of employment, the structural transformation of the African economy, the diversification of exports, and the quality of life in a rapidly industrializing continent—to the front of the policy agenda. Adept and refreshing, this book should be widely disseminated and read. -- Thandika Mkandawire, London School of Economics and former director of the United Nations Research Institute for Social DevelopmentAfrican countries have pursued economic reforms to attain more rapid growth in the last three decades. They have also been driven to reduce poverty and income inequality. This book provides good explanations of the countries’ varied successes. It is an excellent indication of the challenges that Africa faces as it considers structural transformation. -- Ernest Aryeetey, secretary general, African Research Universities AllianceTable of ContentsAcknowledgmentsIntroduction. Quality of Growth in Africa: An Overview, by Ravi Kanbur, Akbar Noman, and Joseph E. StiglitzPart I. Gross Domestic Product, Equity, and Employment1. Beyond GDP: Measuring the Quality of Growth in Africa, by Lorenzo Fioramonti2. Recent African Growth Experience: Poverty, Equity, and Political Stability, by Andy McKay3. The Quality of Jobs and Growth in Sub-Saharan Africa, by Moazam MahmoodPart II. Structural Transformation for Quality Growth4. New Global Rules, Policy Space, and Quality of Growth in Africa, by Antonio Andreoni, Ha-Joon Chang, and Isabel Estevez5. What Should Africa Learn from East Asian Development?, by Jomo Kwame Sundaram6. Economic Transformation for High-Quality Growth: Insights from International Cooperation, by Akio HosonoPart III. Economic Transformation: Industrializing Agriculture, Complexity, and Global Value Chains7. Oranges Are Not Only Fruit: The Industrialization of Freshness and the Quality of Growth, by Christopher Cramer and John Sender8. Sub-Saharan Africa’s Manufacturing Sector: Building Complexity, by Haroon Bhorat, Ravi Kanbur, Christopher Rooney, and François Steenkamp9. A Generalized Linkage Approach to Local Production Systems Development in the Era of Global Value Chains, with Special Reference to Africa, by Antonio Andreoni10. (Re)shaping Markets for Inclusive Economic Activity: Competition and Industrial Policies Relating to Food Production in Southern Africa, by Simon RobertsPart IV. Environment11. Climate Change and the Quality of Growth in Africa, by Ben Orlove12. Does Environmental Policy Make African Industry Less Competitive? The Possibilities in Green Industrial Policy, by Go ShimadaPart V. Urbanization13. Urbanization and the Quality of Growth in Africa, by Takyiwaa Manuh and Edlam Abera Yemeru14. Migrants, Towns, Poverty, and Jobs: Insights from Tanzania, by Luc Christiaensen, Joachim De Weerdt, Bert Ingelaere, and Ravi Kanbur15. Distributing Benefits from Africa’s Urban Growth, by Gabriella Y. CaroliniContributorsIndex

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Book SynopsisThe new edition of a comprehensive overview of the modern Chinese economy, revised to reflect the end of the “miracle growth” period.This comprehensive overview of the modern Chinese economy by a noted expert on China''s economic development offers a quality and breadth of coverage not found in any other English-language text. In The Chinese Economy, Barry Naughton provides both a broadly focused introduction to China''s economy since 1949 and original insights based on his own extensive research. This second edition has been thoroughly revised to reflect a decade of developments in China''s economy, notably the end of the period of “miracle growth” and the multiple transitions it now confronts—demographic, technological, macroeconomic, and institutional. Coverage of macroeconomic and financial policy has been significantly expanded.After covering endowments, legacies, economic systems, and general issues of economic structure, labo

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Book SynopsisWhile dozens of books and articles have predicted the near-certainty of China's rise to global supremacy, this book boldly counters such widely-held assumptions. It brings to light the daunting array of challenges that today confront China, as well as the inadequacy of the responses.Trade Review"'Timothy Beardson is a brilliant entrepreneur and investment strategist and his observations about China are sobering - and a must-read for the well-informed.' (Steve Forbes, Chairman and Editor-in-Chief, Forbes Media) 'A thoughtful reconsideration of China's actual place in the new world order, based on reality rather than fanciful speculation.' (Kirkus Reviews)"

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