Economic history Books

Book SynopsisThis book analyzes the role of Đại Việt (Vietnam) in the maritime Asian trading network of the thirteenth through the eighteenth centuries as it systematically integrates the results of archaeological investigations. The first half of the book consolidates reports from excavations conducted at Vân Đồn and Phố Hiến, trading ports of Đại Việt, incorporating sophisticated archaeological techniques distinctive of Japan in the presentations of the data. These are accompanied by precise scale drawings, detailed classifications, and quantitative analyses of unearthed artifacts. The latter half of the book discusses the materials discovered in archaeological investigations, specifically ceramics and coins, in terms of the relations among sites and networks of production, distribution, and consumption, from a broader Asian geohistorical perspective. To this end, the diplomatic policies and trading activities of each era in Vietnam are discussed, integrating the results of archaeological investigations with studies of historical documents. Expanding beyond Vietnam, results of the archaeological investigations in other maritime Asian countries, such as Japan, Indonesia, Laos, and the Philippines, are introduced, to inform a comparative study that combines all such data from both archaeology and history in a single volume as materials for broader discussion. This book is expected to contribute to international academic discourse on the history of maritime Asia and help open a new phase of scholarly endeavor in this field.Trade Review“This book is a great contribution to the collection of documents (especially the less updated sources between Vietnam and the outside and vice versa), providing new important archaeological findings and the analysis of some key issues of maritime trade during the twelfth eighteenth centuries in North Vietnam. The English version of the book will reach more Vietnamese and international readers, thus having great academic value.” (Lien Thi Le, Journal of Maritime Archaeology, Vol. 18 (1), 2023)“The monograph … is a valuable contribution to the field of Maritime History. … This wonderful book is a well-grounded study of Vietnam’s maritime trade. Scholars interested in the issue of long-distance trade, world system theory and international relations before European hegemony will find the book especially useful and insightful. … this is a superb work that deserves more attention in the wider world.” (Georgi Asatryan and Jack Kalpakian, International Journal of Maritime History, Vol. 35 (1), 2023)Table of Contents1. Introduction.- 2. Ceramic Production in Đại Việt.- 3. Archaeological Investigations in the Vân Đồn Region.- 4. Archaeological Investigation of Phố Hiến.- 5. Trade from the Lý to Trần Dynasties.

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Book SynopsisThe book integrates the latest scholarly literature on the entire Indian Ocean region, from East Africa to China. Issues such as India's history, India’s changing status in the region, and India's cross-cultural networking over a long period are explored in this book. It is organized in specific themes in thirteen chapters. It incorporates a wealth of research on India’s strategic significance in the Indian Ocean arena throughout history. It enriches the reader's understanding of the emergence of the Indian Ocean basin as a global arena for cross-cultural networking and nation-building. It discusses issues of trade and commerce, the circulation of ideas, peoples and objects, and social and religious themes, focusing on Hinduism, Buddhism, and Islam. The book provides a refreshingly different survey of India’s connected history in the Indian Ocean region starting from the archaeological record and ending with the coming of empire. The author’s unique experience, combined with an engaging writing style, makes the book highly readable. The book contributes to the field of global history and is of great interest to researchers, policymakers, teachers, and students across the fields of political, cultural, and economic history and strategic studies.Table of Contents1. Introduction2. India in the Indian Ocean world3. Indian Ocean History-Writing4. From Sail to Steam 5. India in the Indian Ocean world: The archaeological record 6. India in the Indian Ocean world: The classical period 7. India in the Indian Ocean world: The early medieval period upto 1300 8. From an Indian Ocean Realm to an Indian Ocean World: Changes 1300-1500 9. 1500-1800: The Age of European Ascendance 10. Redrawing the Indian Ocean: imperialism, colonialism and the settlement of sea spaces 11. The current state of Indian Ocean history writing

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Book SynopsisFor some twenty-five years after 1949, China did not exist and the country was only rediscovered in the 1970s. As China looks set to soar in the new millennium, there is an urgency to understand the world's most populous economy with a billion plus people. This book aims to shed light on the country's rapid industrialization and internationalization by looking at questions such as: Can China sustain its accelerated rate of growth? Can labor supply be sustained at a relatively low wage rate? Can inflow of foreign direct investment be sustained at a high rate, given the consequent exposure to inflation? Will China's domestic market absorb its own output as the limit on the ability to export manufactures to overseas markets is reached? Is China's currency undervalued? Given China's foreign exchange reserves, should the country have a freely convertible currency?Trade Review"Professor Dutta in China's Industrial Revolution and Economic Presence has provided the reader with a valuable overview of the performance of the Chinese economy over the past quarter century and an analysis of what it will take for China to sustain rapid growth in the future. The book is particularly interesting in its discussion of China's relations with its neighbors and with the outside world more generally in this era of globalization. There is a valuable chapter comparing a potential Asian economic union with what made a union possible in Europe, another chapter looking at foreign direct investment into China, and a chapter on the foreign economic sector more generally. Professor Dutta brings to this study a background in economics and economic development generally, enriched by frequent visits to China that inform his analysis." Professor Dr Dwight H Perkins Harold Hitchings Burbank Professor of Political Economy Harvard University "This is a comprehensive, well-documented and insightful account of China's economic development and globalization based on years of research and many visits to China. I recommend it very highly to all interested scholars and readers." Professor Gregory Chow Princeton UniversityTable of Contents# China's Industrial Revolution # China's Economic Presence # China and Asian Continental Economic Community: Intra Community Macro- and Microeconomic Parameters # Foreign Direct Investment (FDI) in China -- An Economic Appraisal: A Structural Change # China's Money and Financial Market # The Foreign Sector of the Chinese Economy # China's Industrial Revolution and Beyond

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Book SynopsisThis book is the first in the field to cover exclusively the modern radical economists. Science has always had its radicals; economics is unexceptional in this regard. The book begins with the persona of Karl Marx and his soulmate Friedrich Engels, the most radical of all, continuing with the central ideas of Marx, including his theory of capitalism and an understanding of why, in Marx's view, capitalism is doomed. Thereafter, Thorstein Veblen fills the role as the USA radical who founded the only uniquely American school of economics - the institutionalist school. This is followed by Joseph Schumpeter and his theory of capitalist motion. According to Schumpeter, the demise of capitalism is self-inflicted through creative destruction. The bestselling authors, Robert Heilbroner and John Kenneth Galbraith, straddle both the insitutionalist and Post Keynesian schools. The new left radicals emanated from Galbraith's Harvard University and are still around today. The heyday of the new right came during the administration of Ronald Reagan and was led by the neo-Austrians. Finally, the book concludes by analyzing the Post Keynesians' claim to be the legitimate heirs to Keynesianism. Thus far, they fall into the radical camp.This book is also available as a .Table of ContentsParadigm Lost: Karl Marx; The Iconoclast: Thorstein Veblen; Joseph Schumpeter and Capitalist Motion; The Complexity of Capitalism: Galbraith, Heilbroner, and the Institutionalists; New Radical Economics: The Left; New Radical Economics: The Right; The Post Keynesians; Supra-Surplus Capitalism and the Rise of the Casino Economy; Economics: Past and Present Imperfect.

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Book SynopsisOne thousand years ago, a handful of dynamic medieval city states developed trade at the frontier of capitalism. Their unique commercial ambition led to the emergence of finance capitals of international significance: Finance Masters. From the 11th century onward, international financial hubs, led by astute and bold merchant bankers and visionary leaders, inspired the numerous innovations that triggered economic revolutions in the last millennium and laid the ground for modern finance. This book explores not only classic financial centers, but also offshore financial centers and gambling centers to connect them to contemporary finance, and it also delves into the unique function of leading financial hubs to execute financial transactions over a wide geographical domain and transform the world economy.The 2008-2009 Great Recession showed that working on fundamental issues such as market structure, pricing mechanism, and games was indeed necessary but probably still insufficient to create the antibodies needed to mitigate systemic risk and prevent the irrational exuberance capable of triggering devastating economic crash. In the continuation of the Theory of Moral Sentiments written by Adam Smith in 1759, seventeen years before his Wealth of Nations, it seems a deeper historical understanding of the key success factors which quietly assembled in the backyard of our market economy can be a useful lifeline. This book aims to explain the widening gulf that emerged over time between economics, regulatory and ethical considerations necessary to a smoother functioning of markets.Finance Masters is also a book about the extraordinary men who led the evolution of modern finance with the innovations that changed the course of economic history. This book tries to capture the salient factors behind the geography of finance hubs from the early fairs in medieval England and Venice to Wall Street in contemporary New York. The development and the legacy of those 'Finance Masters' deserve more attention to reflect upon the evolution of incumbent players and better understand their possible future. This book a must read for economics and finance students and young finance professionals, who seek a broader and better understanding of the origins of modern economics.Table of ContentsAbout the Author; Foreword; Introduction; From the Annual Fairs of the 11th Century to Early International Banking; The Merry Fair of St Giles as an Early Model of Multinational Trading Center; The Champagne Fairs, the Leading Trading Hub in Europe; The Ascent of Lombard Merchant Bankers; The Banking Disintegration of the Mid 14th Century; The Domination of the Mediterranean Region; Lombard Finance and the Turbulent Medici Era; The Rise and Apogee of Venice, the Lagoon City; Opportunites Beyond the Known World; Landing on Another World; The Shift Towards the North of Europe in the 16th Century; The Ascent of the Flanders, with a Little Help from Columbus; The Revenge of "La Superba", the Turbulent Italian City-State; The Orange Revolution: The Opportunistic Rise of Amsterdam; Secondary Places, Including the Much Specific Case of France; The Transatlantic New Financial Order in the 18th Century; The Steady Emergence of London as Europe Finance Centrepoint; The Take Over of the First Place by New York; The Need of an Asian World Class Financial Center, After the Second World War; Vertical and Horizontal Challenge: New Geographies and New Industries; Pools, Bots and Trolls; The Importance of Being Networked; The Derivative Revolution; Welcome to the Machine; Barbarians at the gat.exe; Uninvited Guest to the Party; Mirror, Mirror or the Tyranny of Index Rating; Gambling [Financial] Centers: Place Your Bets; Offshore Financial Centers (OFCs) Revisited; Trustworthiness from the Early Days of Finance to the 21st Century; Conclusion; Maps; Graphs; Index; Bibliography; References; Other References;

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Book Synopsis2017 marks the 50th year of Singapore's national productivity drive. This book provides a comprehensive account of the phases, milestones and activities of the productivity drive from its humble beginnings in 1967. The coverage ranges from the assistance that Singapore received through the United Nations Development Programme and the Japan-Singapore Productivity Development Project, to the national campaigns and programmes to build competencies in enterprises and the workforce.The various developments are placed in the context of the economic environment and the priorities of the country at different points in time. This makes it clear why certain policies were implemented and why the productivity drive was transformed as Singapore progressed from a developing country to a developed country. Drawing insights from the 50-year history, the book concludes with a list of issues for reflection.

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Book SynopsisThis book is written as a sequel to John Kenneth Galbraith's The Affluent Society, and provides a theoretical framework, for the first time, for surpra-surplus capitalism.Conventional economics has the income and wealth distributions as 'givens'. This assumption immediately excludes such distributions from economic and social concern. Occasionally, economists such as Kenneth Boulding and even earlier, Michal Kalecki, have attempted to develop alternative perspectives in which such distributions are integral to the story and therefore have implications for public policy. At the same time, conventional microeconomics is a theory of price only in which economic efficiency (in an engineering sense) is the only value to be optimized. The income or wealth distributions are given as constraints. Mathematically, the constraints thereafter become invisible; they have no further role to play. The choices that are presumed to be made are neither inhibited nor facilitated by a household's position in the income or wealth distributions.This volume will explore problems with conventional theory and policy, but its main thrust comprises a theory of supra-surplus capitalism, applicable to both developed and developing countries, and its relation to inequalities worldwide.

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Book SynopsisWhy are some nations rich and others poor? Why do the citizens of some countries lead a happy, prosperous life while others struggle in terrible want?This book takes the reader through the eventful life journey of one of Singapore's best known economists and educators, Professor Lim Chong Yah. Born in Malacca, the author planted tapioca to feed himself and his family, caught fish in paddy fields and was thrown in jail as a 10-year-old during the war. He fought to win a Commonwealth scholarship to get a decent education, met the love of his life at a Chinese New Year party, became a Professor at two of the best universities in Asia, and went on to write one the most widely-used economics textbooks of the time, Elements of Economic Theory.At 84, Lim Chong Yah is as feisty, indomitable and curious as when he was a small, cheeky boy catching fighting fish in those paddy fields. And he still asks the fundamental question of how each of us can make a difference.

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Book Synopsis'One of the book’s several strong points are the amusing, often fascinating sketches of government officials and British merchants. This is a book of light touch and readable style but also of much information. Especially useful to the specialist are the examination of European-Chinese credit relationships and the use of merchant house archive material. The book will take its place among principal works on Malayan economic history and should, over the coming years, further promote its ongoing revival.'Asian-Pacific Economic LiteratureThis is the story of British enterprise in Singapore and Malaya from 1786 to 1920, when British vision, zeal and drive developed Penang, then Singapore and, finally, the peninsular Malay States.In the initial years, commerce and finance were paramount. The seeds of these commercial activities had been planted initially in the days of the East India Company but later, and more importantly, by individual merchant firms, supported by credit from London. These merchants were the driving force of British investment and development on the Malay Peninsula. While the contributions of the Malays, Indians and, especially, the Chinese to economic development should not be under-rated, in the period under review, their activities were steered and monitored by the British.This book presents an original and coherent account of British Enterprise in Singapore and Malaya in an important historical period and includes substantial new material from primary records of merchant firms and banks which will be of great interest to students, professionals as well as the general public.

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Book SynopsisFrom afar, Latin America looks like a blurry tableau: devoid of defining lines, particularities and nuances. Little is understood about the idiosyncrasies of Latin-Americans, their cultural identity and social values. Differences between Brazilians and Spanish Americans, or amid the diverse Spanish American countries, are not sufficiently understood. Even less is known about the amplitude of the Iberian heritage of such countries, or about the miscegenation and acculturation processes that took place among their different constitutive races. There is no clarity regarding the Western nature of Latin America or about its cultural affinities with Latin Europe. Nor is there sufficient understanding of the links between the Latin population of the United States and the inhabitants of Latin America.This book aims to fill the gap by focusing on Latin America's history, culture, identity and idiosyncrasies. It serves as a guide to understand regional attitudes, meanings and behavioural differences of the region. It also analyses the present economic situation of the region, while trying to predict the future of the region. Written in a simple and accessible manner, this book will be of interest to readers keen on exploring the region for potential opportunities in trade, investment or any other kind of business and cultural endeavor.

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Book SynopsisCountries commencing industrialization with relatively low levels of agricultural productivity, hence low wages, enjoy advantages that can also prove host to daunting challenges. The chief advantage is a relatively elastic supply of labor for manufacturing; the chief challenge is how to free up farm labor for factory employment through the raising of labor productivity in farming. Key to raising agricultural labor productivity is providing incentives to increase effort levels including hours worked — access to markets being crucial — and improving the quality of labor as measured by health indicators and educational attainment. The willingness of elites to promote improvements in infrastructure — physical infrastructure in the form of roads and railroads and hydroelectric systems; human capital enhancing infrastructure augmenting the educational attainment and health of populations in rural areas; and financial infrastructure — and to invest directly in factories is crucial to the process by which labor is transferred from farming to manufacturing activities. During the period 1850 to 1935 elites in China tended to resist the requisite changes while elites in Japan did not. This legacy played a crucial role in shaping the nature of post-1950 economic development in the two countries.Table of ContentsElites: Elites and Traps; Qing China, 1840-1911; Tokugawa and Meiji Japan; Traps: Growth Acceleration in Japan, 1910-1938; Agriculture and Industrialization in Republican China, 1911-1935; Militarization and Demilitarization, 1930-1955; Consequences: Elites in Decline; Miracle Growth and Its Aftermath in Japan; Command and Control and Its Aftermath in China.

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Book SynopsisThe familiar industrialisation of northern England and less familiar de-industrialisation of the south are shown to have depended on a common process. Neither rise nor decline resulted from differences in natural resource endowments, since they began before the use of coal and steam in manufacturing. Instead, political certainty, competitive ideology and Enlightenment optimism encouraged investment in transport and communications. This integrated the national market, intensifying competition between regions and altering economic distributions. Despite a dysfunctional landed system, agricultural innovation meant that the south's comparative advantage shifted towards the farm sector. Meanwhile its manufactures slowly declined. Once industry clustered in the less benign northern environment, technological changes in manufacturing accumulated there.This book portrays the Industrial Revolution as deriving from economic competition within unique political arrangements.Table of ContentsIntroduction:The View from Little England;; Deindustrialisation: Southern England:The Anomaly of the South;Scarce Resources?;Possible Explanations;Further Possibilities;Prosperity, Poverty & Bourgeois Values;Deindustrialisation and the Landed System;; Economic Change:Politics and Ideas;Transport and Marketing;The Pace of Change;; Industrialisation:North & South;; Guide to Further Reading;

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Book SynopsisBlending past and present, this brief history of economics is the perfect book for introducing students to the field.A Brief History of Economics illustrates how the ideas of the great economists not only influenced societies but were themselves shaped by their cultural milieu. Understanding the economists' visions — lucidly and vividly unveiled by Canterbery — allows readers to place economics within a broader community of ideas. Magically, the author links Adam Smith to Isaac Newton's idea of an orderly universe, F Scott Fitzgerald's The Great Gatsby to Thorstein Veblen, John Steinbeck's Grapes of Wrath to the Great Depression, and Tom Wolfe's The Bonfire of the Vanities to Reaganomics. The second edition is right up-to-date with a lively discussion of the economic crises of 2007-2010.Often humorous, Canterbery's easy style will make the student's first foray into economics lively and relevant. Readers will dismiss “dismal” from the science.Table of ContentsIntroduction; Feudalism and the Evolution of Economic Society; Adam Smith's Great Vision; Bentham and Malthus: The Hedonist and the PastorA"; The Distribution of Income; Ricardo versus Malthus; The Cold Water of Poverty and the Heat of John Stuart Mill's Passions; Karl Marx; Alfred Marshall: The Great Victorian; Thorstein Veblen Takes on the American Captains of Industry; The Jazz Age: Aftermath of War and Prelude to Depression; John Maynard Keynes and the Great Depression; The Many Modern Keynesians; The Monetarists and the New Classicals Deepen the Counterrevolution; Economic Growth and Technology: Schumpeter and Capitalism's Motion; The Many Faces of Capitalism: Galbraith, Heilbroner, and the Institutionalists; The Rise of the Casino Economy; The Global Economy; Climbing the Economist's Mountain to High Theory; The Housing and Credit Crises of 2008; The Great Recession of 2007-2010; The Future of Economics;

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Book SynopsisMany books on the 2008 financial crisis and the current recession focus on the financial sector. Unlike them, this book takes the real economy as the starting point and it situates the downturn within the societal context over the last several decades. Important elements of the story include global manufacturing overcapacity and declining profitability, failure of advanced industrial economies to make a quantum jump in discoveries and innovations across a broad range of technologies, ascent of neo-liberalism after the fall of the Berlin Wall, the Asian financial crisis, the Japanese “lost decade”, and the dot-com boom. This provides the backdrop of the birth of a market society, deregulation, easy credit, and financial excesses.The financial crisis reveals much that has gone astray in the business world over the last few decades — short term thinking, manipulation of figures and image management at the cost of the basics. The financial sector has become an arena for accounting shenanigans and corporate skullduggery. It is also a symptom of deeper social and cultural change. Crisis of a very serious nature functions as a cleansing exercise. Already we have seen debates which re-examine values and ideas, state policy and business practices. If the world could rise to the challenge, history will view the crisis as a blessing in disguise and thus render it in positive terms.Table of ContentsFrom Berlin Wall to Wall Street; A Tale of Two Crises; Insights from Japan's Lost DecadeA"; Special Features of the Crisis; Bonfire of Financial Excesses; Moral Economy; New Financial Landscape?; The World is Round; Don't Waste the Crisis.

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Book SynopsisRevealed Biodiversity: An Economic History of the Human Impact aims to show that for several centuries environmental conditions have been substantially the product of economic fluctuations. It contests the notion of perpetual decline in species composition. The arguments are supported by far more precise historical detail than is usual in books about ecology. The need to take the gains to human society into account when assessing environmental change is strongly emphasized. The book features case studies including England, the Netherlands, USA, East Asia, Brazil, and the areas of modern agricultural ‘land grab’.This book is important for its close attention to the documented historical record of environmental change in several countries over several centuries; for its demonstration of how much wildlife populations have been influenced by fluctuations in market activity; for revealing the need to be sensitive to historical baselines; and for emphasizing the imperative of taking the gains to human society into account when assessing environmental change. It, therefore, has considerable significance for environmental and conservation policies as well as for future studies in ecological history.Table of ContentsEnvironmental Crisis; Environmental Decline; The Example of English Butterflies; Commodity Landscapes; Agricultural History; Drainage and Wildlife Exploitation in the Netherlands and England; The Shooting Industry; The Angling Industry; Europe's Overseas Expansion; Ecological History of the USA; Recent Ecological History of East Asia; Modern Agricultural Prospects with Special Reference to Brazil; Joint Conservation of Wildlife and Ancient Wildlife Harvesting Practices.

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Book SynopsisHarry S Truman is best remembered as the President who witnessed the swift arrival of the Cold War in the tumultuous years after World War Two. Little however has been written to show that he was also the populist President who set the political economic course for the United States to win it merely 40 years later.In this timely biography, E Ray Canterbery captures the spirit of the man, who first and foremost, was a politician who crafted political progams such as the Fair Deal program, full-employment program, New Deal program, reconversion, stabilization, and agriculture progams through the lens of progressiveness. He focuses on Truman's populist economics by charting Truman's early years, the makings of his populist character, his beginnings in Washington, Communism and the Truman Doctrine, the campaign of 1948, the Marshall Plan, the firing of General MacArthur, and the Korean War. While the economic aspects of his term were fundamentally that of war and peace, Canterbery analyses in great depth Truman's economic policies and instruments, such as the Employment Act of 1946 and the President's Council of Economic Advisers (CEA) — results of Truman's presidency that other authors of books on Truman have largely ignored.Harry S Truman: The Economics of a Populist President shows how Truman should be remembered: As a progressive politician whose populist policies rank him among the “near great” Presidents in the tradition of William Jennings Bryan, Theodore Roosevelt, and Woodrow Wilson.Table of ContentsIntroduction; The Early Years; The Political Making of a Populist: Mr. Truman Goes to Washington; The Economics of War and Peace; The Employment Act of 1946 and the President's Council of Economic Advisers; Communism and the Truman Doctrine; The Populist Campaign of 1948; The Marshall Plan; The Korean War Economy; Afterward.

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Book SynopsisThe papers brought together in this volume represent a decade of advances in the historical political economy of defence, dictatorship, and warfare. They address defining events and institutions of the world in the twentieth century: economic consequences of repression and violence, the outcomes of two world wars, and the rise and fall of communism. They cross traditional disciplinary boundaries, combining a broad sweep with close attention to measurement and narrative detail; offering insights into these issues from economics, history, political science, and statistics; and demonstrating in action the value of a multi-disciplinary approach.The author was one of the first economists to leverage the opening of former Soviet archives. He has led international projects that reinvented the quantitative economics of the two world wars and contributed significantly to historical Soviet studies. In 2012, he shared with Andrei Markevich the Russian National Prize for Applied Economics, which was awarded in recognition of their research.Table of ContentsIntroduction: The Economics of Conflict and Coercion; War and Disintegration, 1914 - 1945; Why the Wealthy Won: Mobilisation and Economic Development in Two World Wars; Why Didn't the Soviet Economy Collapse in 1942?; The Frequency of Wars; Soviet Industry and the Red Army Under Stalin: A Military-Industrial Complex?; Contracting for Quality under a Dictator: The Soviet Defense Market, 1930 - 1950; A Soviet Quasi-Market for Inventions: Jet Propulsion, 1932 - 1946; The Political Economy of a Soviet Military R&D Failure: Steam Power for Aviation, 1932 - 1939; The Fundamental Problem of Command: Plan and Compliance in a Partially Centralised Economy; Accumulation and Labor Coercion Under Late Stalinism; Economic Information in the Life and Death of the Soviet Command System; Coercion, Compliance, and the Collapse of the Soviet Command Economy.

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Book SynopsisSince its onset in late 2007, few expected the Great Recession to be protracted for over half a decade across the world. The Rise and Fall of Global Austerity explains the origins and history of austerity, severe implications of the idea of it and how the continuation of the Great Recession was a by-product of austerity measures. Covering austerity policies that are in place in the United States, Europe, and other countries, E Ray Canterbery explains why austerity is detrimental for economies, economic policy and the general health of populations around the world. He highlights the connection between public debt and austerity policies and shows how the austerity lobby works in the United States to achieve its goals. Besides presenting a critique of the rationale for austerity, Canterbery also recommends monetary, fiscal, and incomes policy remedies, and stresses why economic growth and full employment are more ideal and pragmatic antidotes to the Great Recession.

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Book SynopsisThe Economic Transformation of China is a collection of essays written by an eminent observer of the Chinese economy. The book covers the Chinese transformation beginning in the 1950s and continuing through the second decade of the twenty-first century. It includes an analysis of the forces that held China back before 1949, the nature of the economy as it operated under the Soviet model of development, and the transformation since 1978 into a “socialist market economy.” The essays of the post-1978 era reflect the author's view of the state of the reform effort at the time the essay was written and carries the story up to the 2012-2013 slowdown in economic growth.

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Book SynopsisAlthough there have been numerous studies of the causes and consequences of the Great Financial Crisis of 2007-2010 in the US and abroad, many of these were undertaken only for a small number of countries and before the financial and economic effects were fully realized and before various governmental policy responses were decided upon and actually implemented. This book aims to fill these voids by providing a more thorough assessment now that the worst events and the regulatory reforms are sufficiently behind us and much more information about these developments is available. It reviews and analyzes the causes and consequences of and the regulatory responses to the Great Financial Crisis, particularly from a public policy viewpoint. In the process, it explores such intriguing questions as: What caused the crisis? How did the crisis differ across countries? What is the outlook for another crisis, and when? This is a must read for those who are trying to find answers to these questions.Table of ContentsThe Great Financial Crisis of 2007-2010: The Sinners and Their Sins (George G Kaufman); The Costs of the 2007-2009 Financial Crisis (Harvey Rosenblum); The US Financial Crisis and the Great Recession: Counting the Costs (Gillian G H Garcia); US Housing Policy and the Financial Crisis (Peter J Wallison); Playing for Time: The Fed's Attempt to Manage the Crisis as a Liquidity Problem (Robert A Eisenbeis and Richard J Herring); Japan's Financial Regulatory Responses to the Global Financial Crisis (Kimie Harada, Takeo Hoshi, Masami Imai, Satoshi Koibuchi, and Ayako Yasuda); Regulatory Response to the Financial Crisis in Europe: Recent Developments (2010-2013) (Santiago Carbo-Valverde, Harald A Benink, Tom Berglund, and Clas Wihlborg); Regulatory Change in Australia and New Zealand Following the Global Financial Crisis (Christine A Brown, Kevin T Davis, and David G Mayes); The Dodd Frank Act: Systemic Risk, Enhanced Prudential Regulation, and Orderly Liquidation (George G Kaufman and Richard W Nelson); The Trade Execution and Central Clearing Requirements of Dodd-Frank Title VII: Transparency, Risk Management and Financial Stability (Robert S Steigerwald); A Primer on Dodd-Frank's Title VIII (Colleen Baker); Macroliquidity: Selected Topics Related to Title XI of the Dodd-Frank Act of 2010 (Walker F Todd); The Dodd-Frank Act: Key Features, Implementation Progress, and Financial System Impact (James R Barth, Apanard (Penny) Prabha, and Clas Wihlborg); Hair of the Dog That Bit Us: The Insufficiency of New and Improved Capital Requirements (Edward J Kane); Misdiagnosis: Incomplete Cures of Financial Regulatory Failures (James R Barth, Gerard Caprio Jr and Ross Levine); Path-Dependent Monetary Policy in the Post-Financial Crisis Era of Dodd-Frank (Harvey Rosenblum); Bank Crisis Resolution and the Insufficiency of Fiscal Backstops: The Case of Spain (Santiago Carbo-Valverde and Maria J Nieto);

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Book Synopsis

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Book SynopsisThe Economic Transformation of China is a collection of essays written by an eminent observer of the Chinese economy. The book covers the Chinese transformation beginning in the 1950s and continuing through the second decade of the twenty-first century. It includes an analysis of the forces that held China back before 1949, the nature of the economy as it operated under the Soviet model of development, and the transformation since 1978 into a “socialist market economy.” The essays of the post-1978 era reflect the author's view of the state of the reform effort at the time the essay was written and carries the story up to the 2012-2013 slowdown in economic growth.Table of ContentsIntroduction; The Historical Foundation: History, Politics and 30 Years of Development and Reform; Government as an Obstacle to Industrialization: The Case of 19th Century China; Central Planning and Collective Agriculture, 1955-1978: Centralization and Decentralization in Mainland China's Agriculture, 1949-1962; Industrial Planning and Management; China's Economic Policy and Performance; China's Economic Reforms, 1978-2013: Reforming China's Economic System; China's "Gradual" Approach to Market Reforms; The Challenges of China's Growth; The Future: Forecasting China's Economic Growth to 2025; China's Investment and GDP Growth Boom: When and How Will It End?;

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Book SynopsisThe rise of China is no doubt one of the most important events in world economic history since the Industrial Revolution. Mainstream economics, especially the institutional theory of economic development based on a dichotomy of extractive vs. inclusive political institutions, is highly inadequate in explaining China's rise. This book argues that only a radical reinterpretation of the history of the Industrial Revolution and the rise of the West (as incorrectly portrayed by the institutional theory) can fully explain China's growth miracle and why the determined rise of China is unstoppable despite its current 'backward' financial system and political institutions. Conversely, China's spectacular and rapid transformation from an impoverished agrarian society to a formidable industrial superpower sheds considerable light on the fundamental shortcomings of the institutional theory and mainstream 'blackboard' economic models, and provides more-accurate reevaluations of historical episodes such as Africa's enduring poverty trap despite radical political and economic reforms, Latin America's lost decades and frequent debt crises, 19th century Europe's great escape from the Malthusian trap, and the Industrial Revolution itself.Table of ContentsIntroduction; Key Steps Taken by China to Set-Off an Industrial Revolution; Shedding Light on the Nature and Cause of the Industrial Revolution; Why is China's Rise Unstoppable?; What Is Wrong with the Washington Consensus and the Institutional Theories?; Case Study of Yong Lian: A Poor Village's Path to Becoming a Modern Steel Town; Conclusion;

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Book Synopsis

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Book Synopsis

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Book SynopsisWhat forces shaped the twentieth-century world? Capitalism and communism are usually seen as engaged in a fight-to-the-death during the Cold War. With the establishment of the People's Republic of China in 1949, the Chinese Communist Party aimed to end capitalism. Karl Gerth argues that despite the socialist rhetoric of class warfare and egalitarianism, Communist Party policies actually developed a variety of capitalism and expanded consumerism. This negated the goals of the Communist Revolution across the Mao era (1949–1976) down to the present. Through topics related to state attempts to manage what people began to desire - wristwatches and bicycles, films and fashion, leisure travel and Mao badges - Gerth challenges fundamental assumptions about capitalism, communism, and countries conventionally labeled as socialist. In so doing, his provocative history of China suggests how larger forces related to the desire for mass-produced consumer goods reshaped the twentieth-century world and remade people's lives.

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Book Synopsis“A fascinating, exciting story.” — Sylvia Nasar, author of A Beautiful MindWhile still in his early 20s, and under Hitler's shadow, Leonid “Leo” Hurwicz (1917-2008) left his home in Warsaw, Poland, seeking safety and a degree at the London School of Economics. The following years, while challenging and potentially life-threatening, contained the seeds of a lifelong intellectual adventure. Leo's story is personal (born a refugee, precarious war years for himself and his Polish-Jewish family, a new life in America), global (revolutions, wars, depressions), ideological (socialism, capitalism, economic planning, free markets) and professional (a sixty-year career as a professor of economics leading ultimately to a Nobel Prize). This book tells his story.Trade Review“A fascinating, exciting story.” — Sylvia Nasar, author of A Beautiful Mind“Before he became an economist, Leo Hurwicz led a dramatic life worthy of a Hollywood movie. Michael Hurwicz tells this story with verve, and also succeeds in explaining to a lay readership the deep contributions his father made to economic science. Terrific reading.”— Eric Maskin, Nobel laureate in Economics, Harvard University“Kudos to Michael Hurwicz, who has written a paean to his late father, Leo Hurwicz, an extraordinary economist, teacher, polymath, and polyglot, whose genial personality and sense of humor endeared him to many in the profession. Especially for those of us who primarily knew Leo in an academic context, this book provides the background story of his life and times. It is meticulously researched and well-written.”— Samiran Banerjee, Teaching Professor of Economics at Emory University and editor of The Collected Papers of Leonid Hurwicz: Volume 1“Michael Hurwicz gives us a unique attempt to clarify, for all those who knew Leo Hurwicz, the complex history of his family. Many of us who knew Leo had only a fragmentary understanding of this story. Michael tells it with loving care. He then proceeds to interweave ideas from Leo's work and to show, with tenderness, aspects of Leo as a father. A remarkable achievement.”— Thomas Marschak, University of California, Berkeley, CA“Hurwicz tells the story of a remarkable man. A man, who received a Nobel Prize in Economics at age 90, who was married to the same woman, Evelyn, from age 27 until his death, who was the father of four children, who was an excellent pianist with a repertoire that reached from Beethoven to folk songs, an inspired — and inspiring — teller of bed-time stories, a life-long learner and knower of, almost, everything, an active citizen, and, yes, did I mention the Nobel Prize in Economics at age 90?And Leo Hurwicz achieved all of this in spite of — or should we say, because of — the times of existential peril through which he and his extended family lived. … It is a context of revolutions, wars, antisemitism, persecution, and genocide. But it is also a context of resistance, persistence, ingenuity, courage, and creativity, of humanity in the face of barbarism.”— Jens Kruse, The OrcasonianTable of ContentsAcknowledgementsPrologue 1939, sierpień/août/August Born a Refugee Now or Never Home Safe? Get an Education! The Miracle Hurwicz Home School Crisis, Coup, Catastrophe Astrophysics, Chopin and Jazz Economics and Einstein Socialist Calculation Brown Shirts and Ghetto Benches Graduation Getaway Math, Models and Mechanisms Government Intervention A Lifeline Hurwiczes on the Run An Intellectual Warrior at the School for Peace Leo Hurwicz: “Excess Foreign Population” Geneva to Chicago by Way of Locarno, Barcelona and Lisbon Chicago and MIT Surprise Attack Honey A Little Bit Unruly The Great Book Review A Slow and Difficult Process Just a Closer Walk with Stan Blood, Fire, Smoke, Exile and Human Kindness Mechanism Design: Development and Recognition Appendix A. Leo’s MemorialAppendix B. A Celebration of Leo's 90th Birthday, Held at the Holiday Inn Metrodome, 1500 Washington Avenue South, in Minneapolis on April 14, 2007Appendix C. The Theory of Economic Behavior, by Leonid HurwiczAppendix D. The Hurwicz CriterionAppendix E. Edited transcript of 2007 interview with Leo, conducted by the authorAppendix F. A Timeline of the Life of Leo HurwiczAppendix G. What Is Mechanism Design?

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Book Synopsis“A fascinating, exciting story.” — Sylvia Nasar, author of A Beautiful MindWhile still in his early 20s, and under Hitler's shadow, Leonid “Leo” Hurwicz (1917-2008) left his home in Warsaw, Poland, seeking safety and a degree at the London School of Economics. The following years, while challenging and potentially life-threatening, contained the seeds of a lifelong intellectual adventure. Leo's story is personal (born a refugee, precarious war years for himself and his Polish-Jewish family, a new life in America), global (revolutions, wars, depressions), ideological (socialism, capitalism, economic planning, free markets) and professional (a sixty-year career as a professor of economics leading ultimately to a Nobel Prize). This book tells his story.Trade Review“A fascinating, exciting story.” — Sylvia Nasar, author of A Beautiful Mind“Before he became an economist, Leo Hurwicz led a dramatic life worthy of a Hollywood movie. Michael Hurwicz tells this story with verve, and also succeeds in explaining to a lay readership the deep contributions his father made to economic science. Terrific reading.”— Eric Maskin, Nobel laureate in Economics, Harvard University“Kudos to Michael Hurwicz, who has written a paean to his late father, Leo Hurwicz, an extraordinary economist, teacher, polymath, and polyglot, whose genial personality and sense of humor endeared him to many in the profession. Especially for those of us who primarily knew Leo in an academic context, this book provides the background story of his life and times. It is meticulously researched and well-written.”— Samiran Banerjee, Teaching Professor of Economics at Emory University and editor of The Collected Papers of Leonid Hurwicz: Volume 1“Michael Hurwicz gives us a unique attempt to clarify, for all those who knew Leo Hurwicz, the complex history of his family. Many of us who knew Leo had only a fragmentary understanding of this story. Michael tells it with loving care. He then proceeds to interweave ideas from Leo's work and to show, with tenderness, aspects of Leo as a father. A remarkable achievement.”— Thomas Marschak, University of California, Berkeley, CA“Hurwicz tells the story of a remarkable man. A man, who received a Nobel Prize in Economics at age 90, who was married to the same woman, Evelyn, from age 27 until his death, who was the father of four children, who was an excellent pianist with a repertoire that reached from Beethoven to folk songs, an inspired — and inspiring — teller of bed-time stories, a life-long learner and knower of, almost, everything, an active citizen, and, yes, did I mention the Nobel Prize in Economics at age 90?And Leo Hurwicz achieved all of this in spite of — or should we say, because of — the times of existential peril through which he and his extended family lived. … It is a context of revolutions, wars, antisemitism, persecution, and genocide. But it is also a context of resistance, persistence, ingenuity, courage, and creativity, of humanity in the face of barbarism.”— Jens Kruse, The OrcasonianTable of ContentsAcknowledgementsPrologue 1939, sierpień/août/August Born a Refugee Now or Never Home Safe? Get an Education! The Miracle Hurwicz Home School Crisis, Coup, Catastrophe Astrophysics, Chopin and Jazz Economics and Einstein Socialist Calculation Brown Shirts and Ghetto Benches Graduation Getaway Math, Models and Mechanisms Government Intervention A Lifeline Hurwiczes on the Run An Intellectual Warrior at the School for Peace Leo Hurwicz: “Excess Foreign Population” Geneva to Chicago by Way of Locarno, Barcelona and Lisbon Chicago and MIT Surprise Attack Honey A Little Bit Unruly The Great Book Review A Slow and Difficult Process Just a Closer Walk with Stan Blood, Fire, Smoke, Exile and Human Kindness Mechanism Design: Development and Recognition Appendix A. Leo’s MemorialAppendix B. A Celebration of Leo's 90th Birthday, Held at the Holiday Inn Metrodome, 1500 Washington Avenue South, in Minneapolis on April 14, 2007Appendix C. The Theory of Economic Behavior, by Leonid HurwiczAppendix D. The Hurwicz CriterionAppendix E. Edited transcript of 2007 interview with Leo, conducted by the authorAppendix F. A Timeline of the Life of Leo HurwiczAppendix G. What Is Mechanism Design?

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Book SynopsisThe book explores the effect of modern technological shifts on human society, showing that technologies are undergoing accelerating qualitative changes that open up new opportunities for personal development and satisfaction of wants and, simultaneously, engender risks associated with growing opportunities of human interference with nature and technogenic stress on the environment. Based on the study of cutting-edge technologies and resulting socioeconomic shifts, Bodrunov’s analysis outlines the shape of the civilizational crisis we face. It can only be overcome by founding a new industrial society of the second generation (if we consider the new industrial state described by J. K. Galbraith as the first generation) reliant on knowledge intensive material production and the gradual removal of humans from immediate material production.Trade Review“Sergey Bodrunov’s lively book addresses one of the most controversial consequences of liberal globalization—the deindustrialisation of the advanced capitalist states. Following the line of thinking of writers such as Clark Kerr and J.K. Galbraith, Bodrunov insists on the revival of industrialization and in doing so he makes advances on earlier theorizing. He insists that the development of civilization calls for a higher level of material production predicated on human knowledge and he anticipates much of current theorizing about the effects of artificial intelligence. In a provocative discussion, predicated on the experience of post-socialist Russia, he calls for positive economic policies to enhance the capabilities of modern economies to advance to higher levels of industrial development. The book will appeal to readers seeking solutions to modern economic problems through state coordination.”— David Lane, Emeritus Professor of Sociology, University of Cambridge, UK“As Marx, Veblen and John Kenneth Galbraith understood, human society co-evolves with its material and technological conditions, which fact has grave implications for those seduced by financialization or the post-industrial mirage. In The Coming New Industrial State: Reloaded, Sergey Bodrunov gives a fair—and sometimes harsh—portrait of modern Russia's fall into dependence on outside technologies, machines, and components. He advocates a path forward for Russia at the technical frontiers, with a mixed economy rooted in ‘an authentic culture’ without which, he writes, ‘there can be no effective industrial development.’ The war and sanctions may now catapult this analysis to the forefront.”— James K. Galbraith, The University of Texas at Austin, Member, Free Economic Society and Foreign Member, Russian Academy of Sciences“Sergey Bodrunov’s work is a major contribution to human knowledge, rooted both in his practical experience in Russian industry and government, and in revival of interest in the most profound issues in the philosophy of thought. It deserves the attention of everyone with an interest in innovation. But beyond that, anyone concerned with the rising challenge of new technologies should read it. At the center of The Coming New Industrial State lies the following proposition: until now, technology has driven society. The ‘information economy’ calls for a different relationship; it is society that must drive technology. Innovation, therefore, henceforth constitutes social innovation; a different way of organizing society. Bodronov not only poses the question, but provides much-needed answers.”— Alan Freeman, Geopolitical Economy Research Group, University of ManitobaTable of ContentsIntroductionPart One: Material Production and Industry: Technology, Labor, and ProductChapter 1: Production and Its Product: The Industrial Mode of ProductionChapter 2: The Service Industry, Material Production, and Their Correlation in the Modern EconomyPart Two: The Russian Economic System and (De)industrializationChapter 3: Industrialization of the Economy as a Factor of Social Development; The Phenomenon of Modern DeindustrializationChapter 4: Industrial Development in Russia: Lessons from the PastChapter 5: The Deindustrialization of Russia and the Challenges of ReindustrializationChapter 6: Techno-Economic Paradigms and the Renewal of the Russian Economy: The Political-Economic AspectChapter 7: The Russian Economic System: The Future of High-Tech Industrial ProductionPart Three: The New Industrial State v.2Chapter 8: The New Industrial State of the Twentieth CenturyChapter 9: The New Industrial State v.2: The Parameters of its GenesisPart Four: Reindustrialization, Import Substitution, and Active Industrial PolicyChapter 10: Technological Leadership and National SecurityChapter 11: Innovative Economic Development: Into NIS.2Chapter 12: Industrial Policy as a Tool of Reindustrialization and Import SubstitutionChapter 13: Imperatives, Opportunities, and Challenges of ReindustrializationChapter 14: The Revival of Production, Science, and Education: The Primary Priority of Modern Industrial PolicyChapter 15: NIS.2 as a Social SystemConclusion

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Book SynopsisChinese economic growth is an extraordinary phenomenon that deserves an original analysis. Dynamics of China's Economy traces this dynamism from the origins of the People's Republic to the present day. The analysis offered is unique, first, because the authors have reconstructed statistical databases in time series for the stock of physical capital, the stock of human capital, expenditure on research and development, and Gini income inequality index. Their methodologies screen a very wide range of theoretical currents: neoclassical, Pickettyan, and Marxist. It further stands out from similar inquiries because the most modern tools of statistics and econometrics are mobilized to carry out their research.

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Book Synopsis

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Book SynopsisPatterns of Economic Change by State and Area: Income, Employment, and Gross Domestic Product is a special edition of Business Statistics of the United States. It presents data on personal income, employment, and gross domestic product for the United States as a whole, and by region, state, and metropolitan statistical area (MSA). Data on personal income and employment extends back to 1960 for the states and regions and to 1970 for the MSAs. Patterns of Economic Change complements other Bernan Press titles such as the State and Metropolitan Area Data Book and County and City Extra. In contrast to their predominantly current and detailed cross-section data on states and metropolitan areas, this book contributes historical time-series measurements of key aggregates that show how the economies of regions, states, and metropolitan areas have responded over time to cyclical currents and long-term trends.Statistics at the state level provide a framework for analyzing current economic conditions in each state and can serve as a basis for decision making.For example: Federal government agencies use the statistics as a basis for allocating funds and determining matching grants to states. The statistics are also used in forecasting models to project energy and water use. State governments use the statistics to project tax revenues and the need for public services. Academic regional economists use the statistics for applied research. Businesses, trade associations, and labor organizations use the statistics for market research.

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