Economic systems and structures Books

Book SynopsisFor some, Sweden is proof that a generous welfare state is fully compatible with a growing competitive economy. For others, it is a frightening example of what big government can do to a once thriving economy. Sweden and the Revival of the Capitalist Welfare State tackles a number of controversial questions regarding Sweden's economic and political development: How did Sweden become rich? How did Sweden become egalitarian? Why has Sweden since the early 90s grown faster than the US and most EU-countries despite its high taxes and generous welfare state?The author uses new research on institutions and economic reforms to explain the rise, the fall and the recent revival of the Swedish welfare state. The central argument is that a generous welfare state like that of Sweden can work well, provided that it is built on well-functioning capitalist institutions and economic openness. The book expertly explains how Sweden developed from a poor and highly unequal society to one of the richest and most egalitarian countries in the world by building a universal welfare state on a capitalist foundation. It also engages in an important discussion about the current and future challenges for the welfare state in general.The book will fit well in introductory and advanced courses on welfare state policy, social work, sociology, economic history, institutional economics and political science. In all these disciplines, the case of Sweden has always provoked interest and debate, due to Sweden's combination of prosperity, equality and extensive welfare state. The rapid pace of change in Sweden over the last 25 years, however, means that most other books are descriptively dated.Contents: 1. Introduction 2. Prosperity and equality: The golden years 1870-1970 3. The 'not quite so golden' years 1970 - 1995 4. The return of the capitalist welfare state 5. The capitalist welfare state's bloc-transcending history 6. The consequences of increasing competition 7. The resilience of labor market regulation and rent control 8. Challenges ahead: Can the capitalist welfare state survive? Appendices Bibliography IndexTrade Review'Sweden has a remarkable political culture that marries market liberalism and social democratic sensibilities. Bergh's fine book helps us get beyond a sense of paradox in that.' --Daniel Klein, George Mason UniversityTable of ContentsContents: 1. Introduction 2. Prosperity and equality: The golden years 1870-1970 3. The ‘not quite so golden’ years 1970 – 1995 4. The return of the capitalist welfare state 5. The capitalist welfare state’s bloc-transcending history 6. The consequences of increasing competition 7. The resilience of labor market regulation and rent control 8. Challenges ahead: Can the capitalist welfare state survive? Appendices Bibliography Index

Read more less

Book SynopsisThis informative research review discusses the most prominent papers within the economics of structural change and growth. This piece focuses on research that investigates the causes and consequences of structural change with either theoretical or calibrated models, mindfully referring to some of the most celebrated literature over the last two decades. The research review analyses literature covering the impact structural change has on an array of economic factors including convergence, per capita income and spatial development. Prefaced by an original introduction from the editors, this collection would be well suited to scholars and macro-development economists wishing to extend their knowledge of this compelling topic. Table of ContentsContents: Acknowledgements Introduction Kei-Mu Yi, Micheal Sposi and Jing Zhang PART I THEORIES OF STRUCTURAL CHANGE 1. Piyabha Kongsamut, Sergio Rebelo and Danyang Xie (2001), ‘Beyond Balanced Growth’, Review of Economic Studies, 68 (4), October, 869–82 2. Reto Foellmi and Josef Zweimüller (2008), ‘Structural Change, Engle’s Consumption Cycles and Kaldor’s Facts of Economic Growth’, Journal of Monetary Economics, 55 (7), December, 1317–28 3. Timo Boppart (2014), ’Structural Change and the Kaldor Facts in a Growth Model with Relative Price Effects and Non-Gorman Preferences’, Econometrica, 82 (6), November, 2167–96 4. L. Rachel Ngai and Christopher A. Pissarides (2007),’Structural Change in a Multisector Model of Growth’, American Economic Review, 97 (1), March, 429–43 5. Daron Acemoglu and Veronica Guerrieri (2008),’Capital Deepening and Nonbalanced Economic Growth’, Journal of Political Economy, 116 (3), June, 467–98 6. Kiminori Matsuyama (2009),’Structural Change in an Interdependent World: A Global View of Manufacturing Decline’, Journal of European Economic Association, 7 (2–3), May, 478–86 PART II QUANTITATIVE INVESTIGATION OF STRUCTURAL CHANGE 7. Berthold Herrendorf, Richard Rogerson and Akos Valentinyi (2013), ‘Two Perspectives on Preferences and Structural Transformation’, American Economic Review, 103 (7), December, 2752–89 8. Berthold Herrendorf, Christopher Herrington and Ákos Valentinyi (2015),’Sectoral Technology and Structural Transformation’, American Economic Journal: Macroeconomics, 7 (4), October, 104–33 9. Francisco J. Buera and Joseph P. Kaboski (2009),’Can Traditional Theories of Structural Change Fit the Data?’, Journal of The European Economic Association, 7 (2–3), April, 469–77 10. Benjamin N. Dennis and Talan B. Işcan (2009), ’Engel Versus Baumol: Accounting for Structural Change using Two Centuries of U.S. Data’, Explorations in Economics History, 46 (2), April, 186–202 11. Francisco Alvarez-Cuadrado and Markus Poschke (2011), ’Structural Change out of Agriculture: Labor Push Versus Labor Pull’, American Economic Journal: Macroeconomics, 3 (3), July, 127–58 12. Robert Dekle and Guillaume Vandenbroucke (2012), ’A Quantitative Analysis of China’s Structural Transformation’, Journal of Economic Dynamics and Control, 36 (1), January, 119–35 13. Dale W. Jorgenson and Marcel P. Timmer (2011), ‘Structural Change in Advanced Nations: A New Set of Stylised Facts’, Scandinavian Journal of Economics, 113 (1), March, 1–29 14. Francisco J. Buera and Joseph P. Kaboski (2012), ‘Scale and the Origins of Structural Change’, Journal of Economic Theory, 147 (2), March, 684–712 15. Francisco J. Buera and Joseph P. Kaboski (2012), ’The Rise of the Service Economy’, American Economic Review, 102 (6), October, 2540–69 16. Timothy Uy, Kei-Mu Yi and Jing Zhang (2013), ’Structural Change in an Open Economy’, Journal of Monetary Economics, 60 (6), September, 667–82 17. Caroline Betts, Rahul Giri and Rubina Verma (2017), ’Trade, Reform, and Structural Transformation in South Korea’, IMF Economic Review, 65 (4), November, 745–91 18. Marc Teignier (2018), ’The Role of Trade in Structural Transformation’, Journal of Developmental Economics, 130, January, 45–65 19. Tomasz Święcki (2017), ‘Determinants of Structural Change’, Review of Economic Dynamics, 24, March, 95–131 20. Timothy J. Kehoe, Kim J. Ruhl and Joseph B. Steinberg (2018), ’Global Imbalances and Structural Change in the United States’, Journal of Political Economy, 126 (2), April, 761–96 PART III STRUCTURAL CHANGE, PER CAPITA INCOME, GROWTH AND CONVERGENCE, AND SPACE 21. Diego Restuccia, Dennis Tao Yang and Xiadong Zhu (2008), ‘Agriculture and Aggregate Productivity: A Quantitative Cross-Country Analysis’, Journal of Monetary Economics, 55 (2), March, 234–50 22. David Lagakos and Michael E. Waugh (2013), ’Selection, Agriculture, and Cross-Country Productivity Differences’, American Economic Review, 103 (2), April, 948–80 23. Douglas Gollin, Stephen L. Parente, and Richard Rogerson (2007), ‘The Food Problem and the Evolution of International Income Levels’, Journal of Monetary Economics, 54 (4), May, 1230–55 24. Margarida Duarte and Diego Restuccia (2010), ‘The Role of the Structural Transformation in Aggregate Productivity’, Quarterly Journal of Economics, 125 (1), February, 129–73 25. Cristina Echevarria (1997), ‘Changes in Sectoral Composition Associated with Economic Growth, International Economic Review, 38 (2), May, 431–52 26. John Laitner (2000),’Structural Change and Economic Growth’, Review of Economic Studies, 67 (3), May, 545–61 27. Yongsung Chang and Andreas Hornstein (2015) ‘Transition Dynamics in the Neoclassical Growth Model: The Case of South Korea’, BE Journal of Macroeconomics, 15 (2), July, 649–76 28. Tasso Adamopoulos (2011), ’Transportation Cost, Agricultural Productivity, and Cross-country Income Differences’, International Economic Review, 52 (2), May, 489–521 29. Berthold Herrendorf, James A. Schmitz and Arilton Teixeira (2012), ’The Role of Transportation in the U.S. Economic Development: 1840–1860’, International Economic Review, 53 (3), August, 693–715 30. Francesco Caselli and Wilbur John Coleman II (2001), ’The U.S. Structural Transformation and Regional Convergence: A Reinterpretation’, Journal of Political Economy, 109 (3), June, 584–616 31. Guy Michaels, Ferdinand Rauch and Stephen J. Redding (2012), ‘Urbanization and Structural Transformation’, Quarterly Journal of Economics, 127 (2), May, 535–86 32. Klaus Desmet and Esteban Rossi-Hansberg (2014), ’Spatial Development’, American Economic Review, 104 (4), April, 1211–43 Index

Read more less

Book SynopsisNetwork industries such as electricity, gas, rail, local public transport, telecommunications and postal services are recognised by the EU as crucial for fostering European social and territorial cohesion. Providing an overview of key policy reforms in these industries and an empirical evaluation, this thought-provoking book offers a critical perspective on the functioning of the networks that provide vital services to EU citizens. Key features include: analysis of policy reforms and their effects on the welfare of citizens as users an innovative focus on the neglected topic of the role of state-owned or state-invested enterprises assessment of changes in policy framework reform from the consumer's point of view a comparative country analysis evaluation of cross-cutting issues related to reform including privatisation, unbundling, performance and impact. The Reform of Network Industries will appeal to academic researchers in the fields of industrial economics, policy and regulation and the economics of European integration, as well as students of business and law. Policymakers, regulators and public administrators will also find this book a stimulating read.Contributors include: P. Bance, R. Cardinale, P. Castelnovo, A. Chassy, S. Clo, A. Cosic, L. Diestelmeier, J. Doleschel, S. Drufuca, G. Esposito, M. Florio, S. Grönblom, R. Hirsch, T. Holvad, T. Kaloud, M. Lampropoulou, A. Maxim, A. Negrelli, T.A. Nguyen, N. Rosetto, A. Roukouni, R.P. Sanchez, S. Thomas, J. Urban-Kozlowska, J. WillnerTrade Review'It is high time a cross-country, multi-sector analysis of the effects of privatization, regulation and liberalization across the EU was performed, with not just costs, efficiency and performance in mind, but also, welfare, affordability, quality and other impacts on citizens. Finally, all these questions have been brought together in this excellent volume edited by Massimo Florio.' --Judith Clifton, University of Cantabria, Spain'A book on the reform of network industries is long overdue. This edited volume makes a significant contribution to our understanding of the chain reaction of consequences following such reforms. Massimo Florio continues his impressive work in applied and public economics and has assembled a first class team of authors to research this timely topic. The volume offers an enlightening perspective at the proper level of analysis. The suggested framework allows for a careful and nuanced interpretation of the various cases presented.' --Luc Bernier, University of Ottawa, CanadaTable of ContentsContents: Preface PART I: Cross-Cutting Policy Issues 1. The empirical evaluation of regulatory policy reforms in network industries: some methodological issues Massimo Florio 2. Public and private enterprises, costs and welfare performance: an overview with suggestions for further research Johan Willner and Sonja Grönblom 3. Market reforms, governance and performance: lessons learned from the experience in the EU energy industries Steve Thomas and Stefano Clò 4. Market structure and state involvement: passenger railways in Europe Torben Holvad 5. Ownership and Firm Performance: Empirical Evidence from the European Telecommunications Industry (2006-14) Paolo Castelnovo 6. National public missions, diversity of operators and competition: Postal services in the European Union Philippe Bance PART II: Empirical Evaluations 7. Does Public Ownership provide affordable and reliable electricity to household customers? Case studies of electricity sector reforms in the UK, France, Germany and Italy Ajla Cosic, Lea Diestelmeier, Alexandru Maxim, Tue Anh Nguyen and Nicolò Rossetto 8. Telecommunications policies in Europe: past, present, future and impact on citizens Serena Marianna Drufuca, Regina Maria Hirsch, Manto Lampropoulou and Rogelio Pesqueira Sánchez 9. The changing nature of railways in Europe: empirical evidence on prices, investments and quality Giovanni Esposito, Julia Doleschel, Tobias Kaloud and Jadwiga Urban-Kozlowska 10. Local Public Transport Services: the efficiency of public enterprises competing with the private sector in the EU member States Annalisa Negrelli, Anastasia Roukouni and Angélique Chassy 11. The European gas sector: political-economy implications of the transition from state-owned to mixed-owned enterprises Roberto Cardinale Index

Read more less

Book SynopsisWith the radical growth in the ubiquity of digital platforms, the sharing economy is here to stay. This Handbook explores the nature and direction of the sharing economy, interrogating its key dynamics and evolution over the past decade and critiquing its effect on society. Using an interdisciplinary perspective, this Handbook analyses labour, governance, trust and consumption in the contemporary sharing economy. It questions the apparent contradiction between its components: the moral economy of small-scale communal sharing versus the far-flung reaches of the market economy. Chapters explore ways to resolve this paradox, theorizing hybrid economic forms and considering the replacement of human trust inherent in the sharing economy with a transactional reputation economy. Featuring a variety of both conceptual explorations and empirical investigations in a variety of different cross-cultural contexts, this Handbook illustrates how and, more importantly, why the sharing economy has reshaped marketplaces, and will continue to disrupt them as it develops. Written in an accessible style, this thorough Handbook offers crucial insights for researchers across a variety of disciplines interested in the trajectories of modern consumption, as well as students studying the sharing economy. Practitioners, policy makers and public speakers working in and around the sharing economy will also benefit from this book's unique analysis of trends in consumer economics. Contributors include: A. Arvidsson, G. Avram, F. Bardhi, H. Bartling, M. Baz Radwan, R. Belk, H.H. Chang, A. Chattopadhyay, R. Corten, D. Dalli, A. DeCrop, N. Drozdova, G. Eckhardt, T. Eriksson, E. Fischer, F. Fortezza, A. Gandini, A. Gessinger, A. Graul, A. Gruen, A.J. Hawley, I. Kleppe, S. Kurtmollaiev, M. Laamanen, C. Laurell, C.X. Li, A. Light, R.J. Lutz, J. Mallargé, K. Mikolajewska-Zaj c, L. Mimoun, M. Möhlmann, O. Mont, J. Morales, A. Mukherjee, C. Oberg, L.K. Ozanne, E. Papaoikonomou, G. Patsiaouras, C. Pitt, K. Plangger, M. Rocas-Royo, A. Ryan, C. Sandstrom, M. Saren, K. Strzyczkowski, W. Suetzl, T. Teubner, C. Valor, P. van den Bussche, G. von Richthofen, Y. Voytenko Palgen, S. Wahlen, T. Widlok, P. Zidda, L. Zvolska Trade Review'This Handbook offers wide-ranging investigations and essays into the sharing economy. It takes the reader through a deep and critical look at this new way of organizing markets and society. While exposing the promise, practices, and paradoxes of these systems, the authors succeed in inspiring us to think how these platforms are changing how we consume, sell, and think about and care for the world. It offers fresh insights that I expect to influence my research and teaching in important ways for a long time.' --Christine Moorman, Duke University, US and Editor in Chief, Journal of Marketing'The sharing economy is fundamentally altering firms and markets, yet key questions about the future of the economy and society remain unanswered. Belk, Eckhardt and Bardhi provide a sweeping view of emerging thinking, spanning topics from blockchain and big data to rhetoric and risk. A must-read for any serious scholar.' --Arun Sundararajan, New York University, US and author of The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism'This is a must-read collection for anyone seeking a deeper appreciation of the sharing economy and why and how it works. Twenty-eight chapters explore the paradoxes between the moral economy of ''sharing'' the market economy of ''commerce,'' and the reputation economy on which everything is based. If you want a greater sense of the benefits and dilemmas of the sharing economy read this book.' --Susan Fournier, Boston University, USTable of ContentsContents: The paradox of the sharing economy, Introductory chapter Russell Belk, Giana Eckhardt and Fleura Bardhi The Nature of Sharing and the Sharing Economy 1. Situating the Sharing Economy: Between Markets, Commons and Capital Adam Arvidsson 2. Sharing as an Alternative Economy Activity Thomas Widlok 3. The who and what of sharing: A phenomenological view Wolfgang Suetzl 4. The Sharing Economy and Lifestyle Movements Mikko Laamanen and Stefan Wahlen Ownership, Access, and Collaborative Modalities 5. To Own or to Access: An Exploration of Sharing and Access Practices by Arab Millennials Maha Baz Radwan, Georgios Patsiaouras and Michael Saren 6 Object History Value in the Sharing Economy Claris X. Li and Richard J. Lutz 7. Guest, friend or colleague? Unpacking relationship norms in collaborative workplaces Adèle Gruen and Laetitia Mimoun 8. Designing the Economics of the Sharing Economy: Towards Sustainable Management Ann Light Exchange Practices in the Sharing Economy 9. The New Face of Bartering in Collaborative Networks: The Case of Italy’s Most Popular Bartering Website Daniele Dalli and Fulvio Fortezza 10. Sharing Economy to the Rescue? The Case of Timebanking Carmen Valor and Elani Papaoikonomou 11. Crowdfunding: Sharing the Entrepreneurial Journey Anirban Mukherjee, Hannah H. Chang, and Amitava Chattopadhyay 12. Crowdfunding the development of new products and services Natalia Drozdova, Seidali Kurtmollaiev and Ingeborg Kleppe Hybridity, Institutional Logics and Institutional Theory 13. Tracking the institutional logics of the sharing economy Andrea Gessinger, Christopher Laurell, Christina Oberg and Christian Sandstrom 14. Airbnb and Hybridized Logics of Commerce and Hospitality Georg von Richthofen and Eileen Fischer 15. The Hybrid Nature on Online Facilitated Offline Sharing Konstanty Strzyczkowski 16. Decentralization as a new framework for the sharing economy Marc Rocas-Royo Legal, Regulatory, and Public Policy Considerations 17. Urban Mobilities and Local Regulation: Transportation Challenges and Promise of the Sharing Economy Hugh Bartling 18. Should Europe Regulate Labour Platforms in the Sharing Economy? Adrian J. Hawley 19. Creating value to mitigate disaster harm: How the sharing economy can support consumers and policy makers Lucie K. Ozanne 20. How Sharing Economy Organizations and City Governments Engage in Institutional Work and How This Shapes Sustainability Oksana Mont, Yulia Voytenko Palgen, and Lucie Zvolska Trust, Satisfaction, and Reputation in the sharing economy 21. Social Dilemmas in the Sharing Economy Rense Corten 22. Leveraging trust on sharing economy platforms: Reputation systems, blockchain technology and cryptocurrencies Mareike Möhlmann, Timm Teubner, and Antje Graul 23. Revisiting Satisfaction with Collaborative Exchanges in the Sharing Economy Jérôme Mallargé, Alain DeCrop, and Pietro, Zidda 24. Customer goodwill: How perceived competence and rapport influence eWOM’s diagnosticity of Peer-to-Peer and Professional Access-Based Services Christine Pitt, Theresa Eriksson, and Kirk Plangger Critical Perspectives on the Sharing Economy 25. Constructing the Collaborative Consumer: The Role of Digital Platforms Annmarie Ryan and Gabriela Avram 26. Performing (in) the community: Accounting, biopower and the sharing economy Penelope van den Bussche and Jeremy Morales 27. The Rhetoric of Sharing: Managerial Literature on the Sharing Economy Karolina Mikołajewska-Zając 28. Reputation: the ‘fictitious commodity’ of the sharing economy? Alessandro Gandini Index

Read more less

Book SynopsisThis book presents a general theory of the economics of prosperity. Drawing upon both historic and contemporary Austrian economic thinking, it looks beyond merely identifying various isolated causes of economic growth and development to describe and explain the process of economic progress. It brings together various economic principles related to production, exchange, the market division of labor, capital, technology, entrepreneurship, and economic calculation, and a further understanding of how different institutional settings and specific policies all affect the process of economic progress. It also provides a helpful critique of modern growth theory.The author argues that economic prosperity is not monocausal. It is the happy consequence of a highly developed division of labor, taking advantage of an expanding capital structure, embodied in technically advanced capital goods, all wisely invested by entrepreneurs. All these sources of prosperity require the social institutions of private property and sound money to function well together, facilitating economic progress and human civilization.The Economics of Prosperity provides a comprehensive explanation of the myriad of factors influencing economic growth and development for scholars, policy makers and economists.Trade Review‘The Economics of Prosperity marvellously shows the way in which the main concepts of Austrian economics are connected with one another, and readers of the book will get a good sense of the power of Austrian causal-realist analysis.’> -- David Gordon, Quarterly Journal of Austrian Economics‘A brilliant synthesis of Austrian theories of markets, capital, entrepreneurship, and institutions along with an insightful critique of modern growth theory. Ritenour shows how economic development results, not from the deus ex machina of exogenous technological innovation, but from gradual improvements in productivity driven by savings, capital accumulation, and an increased division of labor. He rightly emphasizes private property, sound money, and free markets as necessary preconditions for a healthy and prosperous economy and society. Highly recommended!’ -- Peter G. Klein, Baylor University, Director, John F. Baugh Center for Entrepreneurship and Free Enterprise, US‘The Economics of Prosperity is a very important and most notable book that, based on the concept and implications of the entrepreneurially driven dynamic efficiency, opens a truly new era in the field of development economics. The book is very well written and extremely clear and should be read not only by every student of economics but also by everyone interested in how to fight poverty in the 21st century.’ -- Jesús Huerta de Soto, King Juan Carlos University, Madrid‘Professor Ritenour explains why a prosperous and growing economy requires an institutional and cultural framework that encourages entrepreneurship. Economists often emphasize investment and technological developments, insufficiently recognizing the importance of the creative activity of entrepreneurs. Ritenour clearly describes the ingredients that are necessary to produce prosperity.’ -- Randall G. Holcombe, Florida State University, USTable of ContentsContents: Introduction to The Economics of Prosperity 1. Human action and the economic order 2. The market division of labor 3. Capital 4. Technology 5. Entrepreneurship 6. Modern growth theory 7. Market institutions 8. Development policy 9. Coda: The conclusion of the matter Works cited Index

Read more less

Book SynopsisEconomic democracy is essential for creating a truly democratic political sphere. This engaging book uses Marxist theory to hypothesise that capitalism is not a democratic system, and that a modern socialist system of producer cooperatives and democratically managed enterprises is urgently needed. A New Model of Socialism focuses on the current crisis of the political Left, a result of the collapse of the Soviet model of society and the decline of statism and kingship. Bruno Jossa expands on existing theories to explore Marx?s notions on economic democracy in a modern setting. He advocates a move away from the centralised planning form of economic socialism towards a self-management system for firms that does not prioritise the interests of one class over another, in order to achieve greater economic democracy. It is argued that the establishment of such a system of democratic firms is the precondition for reducing intervention in the economy, thus enabling the State to perform its ultimate function of serving the public interest. This timely book is ideal for advanced scholars of Marxist, radical and heterodox economic theory, as well as academics with an interest in the rise of socialism in our modern world. Indeed, it will also be of value to all those seeking a viable and practical alternative to existing capitalist and socialist thinking.Trade Review'A well researched and well argued book that presents a refined analysis of some difficult issues on socialism and industrial democracy. By taking advantage of the research developed by various important economists on the labour-managed firms, and revising Marxism in the light of this literature, Bruno Jossa offers us a reasonable and appealing proposal about how to construct a post-capitalist society capable of rescuing contemporary societies from the stranglehold of globalized capitalism.' --Ernesto Screpanti, University of Siena, Italy'Deeply suggestive and intellectually challenging, Jossa's book proposes the market socialism model as a viable solution to the shortcomings of present day global capitalism. From the premise that socialism can be established by peaceful means and with non centralized planning, the author shows how by democratizing the economic sphere by means of a system of labour-managed enterprises, it is possible to enhance a vibrant political democracy. Jossa's arguments are powerful and should interest anybody seriously involved in the wealth and health of nations.' --Stefano Zamagni, University of Bologna and Johns Hopkins University, ItalyTable of ContentsContents: 1. Production Modes, Marx’s Method and the Feasible Revolution 2. The Coopererative Firm as an Alternative to the Capital-owned Business Enterprise 3. A Few Advantages of Economic Democracy 4. Marx, Marxism and the Cooperative Movement 5. Recent Criticisms of the Labour Theory off Value: The Democratic Firm and Marxism 6. Further Reflections on Links between Marxism and Producer Cooperatives 7. Some Critics of Labour Management 8. The Labour-managed Firm and Socialism 9. The Evolution of Socialism from Utopia to Scientific Producer Cooperative Economics 10. The Democratic Firm in the Estimation of Intellectuals 11. An Involuntary Antagonist of History and Progress Index

Read more less

Book SynopsisFor most economists, 'Austrian economics' refers to a distinct school of thought, originating with Mises and Hayek and characterised by a strong commitment to free-market liberalism. This innovative book explores an alternative Austrian tradition in economics. Socialist in spirit but too diffuse to be described as a single school of thought, it shares a common conviction that the market, while possibly a good servant, is a very poor master. Demonstrating how the debate on the economics of socialism began in Austria long before the 1930s, this unique book analyses the work and impact of many leading Austrian economists. Beginning with the Austro-Marxist theorists Otto Bauer and Rudolf Hilferding and moving through to the new generation of social democratic economists, most prominently Kurt Rothschild and Josef Steindl, The Alternative Austrian Economics provides insight into the history and evolution of socialist economics in Austria. Offering a previously underrepresented discussion of a century of Austrian socialist economics, this engaging book will prove to be of great value to Marxian and heterodox economists, historians of economic thought and political scientists interested in political economy.Trade Review'Economists associate the Austrian school with the free market classical liberal ideas of Ludwig von Mises and Friedrich Hayek, Professor King describes the ideas of another group of Austrian economists: Marxists who were active in Vienna in the early twentieth century, and later Austro-Marxists who built on their work. King's book is a delightful description of this intellectual community, and explains how their work was designed to be an extension and updating of Marx's ideas.' --Randall G. Holcombe, Florida State University, USTable of ContentsContents: 1. Introduction 2. ‘Red Vienna’ and the Roots of Austro-Marxism 3. The Young Rudolf Hilferding 4. Otto Bauer 1904-1914 5. The Economics of Socialism 6. Otto Bauer 1917-1938 7. Other Voices 8. The Heirs. I: Josef Steindl 9. The Heirs. II: Kurt Rothschild 10. What is Left Bibliography Index

Read more less

Book SynopsisLarge infrastructure projects often face significant cost overruns and stakeholder fragmentation. Public-Private Partnerships (PPPs) allow governments to procure long-term infrastructure services from private providers, rather than developing, financing and managing infrastructure assets themselves. Aligning public and private interests and institutional logics to create robust, decades-long service contracts subject to shifting economic and political contexts is a significant cross-sectoral governance challenge. This work summarizes over a decade of research conducted by scholars at Stanford s Global Projects Center and multiple US and International collaborators to enhance the governance of both infrastructure projects and institutional investors, whose long term, cash flow obligations align especially well with the kinds of long term inflation-adjusted returns that PPP infrastructure projects can generate. In these pages, multiple theoretical perspectives are integrated and combined with empirical evidence to examine how experiences from more mature PPP jurisdictions can help improve PPP governance approaches worldwide. The information contained here will appeal to engineering, economics, political science, public policy and finance scholars interested in the delivery of high-quality, sustainable infrastructure services to the citizens in countries with established and emerging market economies. Officials in national, state/provincial and local government agencies seeking alternative financing and service provision strategies for their civil and social infrastructure, and legislators and their staff members interested in promoting PPP legislation will find this book invaluable. It will also be of high interest to long-term investment professionals from pension funds, sovereign funds, family offices and university endowments seeking to deploy money into the infrastructure asset class, and practitioners seeking insights into methods for enhancing stakeholder incentive alignment, reducing transaction costs and improving project outcomes in PPPs. Contributors: B.G. Cameron, G. Carollo, C.B. Casady, E.F. Crawley, K. Eriksson, W. Feng, M.J. Garvin, K.E. Gasparro, R.R. Geddes, W.J. Henisz, D.R. Lessard, R.E. Levitt, T. Liu, A.H.B. Monk, D.A. Nguyen, C. Nowacki, W.R. Scott, R. Sharma, A.J. SouthTrade Review'In conclusion, the editors of the book have collected a series of chapters that provide a valuable and contemporary look into the state of practice of PPP in the United States, it offers various interesting proposals for the improved institutional design of PPPs, and it inspires and strengthens the comparative research agenda on studying the performance and design of PPPs.' --Stefan Verweij, Public Works Management & Policy'This is the book on infrastructure development that researchers and practitioners have been waiting for. It brings together some of the world's leading scholars - several based in the Global Project Center at Stanford University - to provide a rigorous analysis and critical discussion of the challenges involved in the governance, financing and management of mature and innovative new forms of PPP transportation infrastructure projects. While the work addresses a diverse range of topics concerning the risks and opportunities for PPP provision in developing and developed countries, each chapter draws upon a shared intellectual framework and is informed by ideas and concepts from organization theory and design.' --Andrew Davies, University College London, UK'This is a remarkable contribution to the growing literature on infrastructure financing and management. Ray Levitt and his colleagues provide the fundamental conceptual building blocks for understanding how public-private partnerships can transform the market for infrastructure development. They do so with a sure feel for the theoretical issues as well as the very practical concerns that come with stitching together public, private, and community interests in infrastructure investment. Each paper is important in its own right - and the combination is unbeatable. This book will make a lasting contribution to how we understand the issues and is just as important for the emerging economic powerhouse of China and the developed economies of the West.' --Gordon Clark, Oxford University, UKTable of ContentsContents: Introduction W. Richard Scott, Raymond E. Levitt and Michael J. Garvin Part I: Public-Private Partnerships: Definitions, Myths and Institutional Challenges W. Richard Scott, Raymond E. Levitt and Michael J. Garvin 1. Public-Private Partnerships for Infrastructure Delivery Ashby H. B. Monk, Raymond E. Levitt, Michael J. Garvin, Andrew J. South, and George Carollo 2. Stakeholder Network Dynamics in Public-Private Partnerships Andrew J. South 3. Toward a Unified Theory of Project Governance: Economic, Sociological and Psychological Supports for Relational Contracting Witold J. Henisz, Raymond E. Levitt, and W. Richard Scott 4. Stakeholders, Issues, and the Shaping of Large Engineering Projects Wen Feng, Donald R. Lessard, Bruce G. Cameron, and Edward F. Crawley Part II: Governance Mechanisms in PPP Planning, Delivery, Contracting and Management Introduction to Part II Raymond E. Levitt, W. Richard Scott, and Michael J. Garvin 5. Mitigating PPP Governance Challenges: Lessons from Eastern Australia Raymond E. Levitt and Kent Eriksson 6. Contractual Risk Sharing Mechanisms in US Highway PPP Projects Duc A. Nguyen and Michael J. Garvin Part III: Leveraging Institutional Capital and Governmental Fiscal Support for PPPs to Enable the “Golden Handshake” Michael J. Garvin, W. Richard Scott, and Raymond E. Levitt 7. The Role of Institutional Investors for PPP Infrastructure Investments Ashby H. B. Monk and Rajiv Sharma 8. Framework to Assess Fiscal Support Mechanisms for Mitigating Revenue Risk in Transportation Public-Private Partnerships Ting Liu and Michael J. Garvin Part IV: Evolution of Mature PPP Institutional Fields W. Richard Scott, Raymond E. Levitt, and Michael J. Garvin 9. (Re)Assessing Public-Private Partnership Governance Challenges: An Institutional Maturity Perspective Carter B. Casady, Kent Eriksson, Raymond E. Levitt, and W. Richard Scott 10. Transportation Public-Private Partnership Market in the United States: Moving Beyond Its Current State Michael J. Garvin 11. Private Participation in US Infrastructure: The Role of Regional PPP Units Carter B. Casady and R. Richard Geddes Part V: Emerging Tools for Infrastructure Project Finance and Delivery Raymond E. Levitt, W. Richard Scott and Michael J. Garvin 12. The Financier State: Infrastructure Planning and Asset Recycling in New South Wales, Australia Caroline Nowacki 13. Community Investment and Crowdfunding as Partnership Strategies for Local Infrastructure Delivery Kate E. Gasparro Bibliography Index

Read more less

Book SynopsisThe modern welfare state finds itself in the middle of two major upheavals: the impact of technology and immigration. Having taken in more refugees per capita than most other countries, the pillars of the Swedish welfare state are being shaken, and digital technologies are set to strengthen already existing trends towards job and wage polarization. The development of skills to keep pace with technology will enter into a critical period for the labor market in which inadequate policy responses could result in further inequality and polarization. In this regard, a platform-based labor market could help by opening up a vast range of new work opportunities. Marten Blix examines the implications of these trends that drive change in developed economies and, in particular, the impact that they have on Sweden and other European countries with rigid labor markets and comprehensive tax-financed welfare services. Increasing costs from immigration and rising inequality could further reduce the willingness to pay high taxes and erode support for redistribution. Failure to address challenges like this one could herald much more drastic changes down the road. There are already signs of economic and political tensions and there is a risk that the social contract could crack. This new discussion on the future of work and the welfare state will be of interest not only to scholars but in policy circles and corresponding societies in sociology, labor relations, political science and public administration.Trade Review'The famous Swedish Model of the welfare state is at a turning point as the pressures of technological change, income inequality and high levels of immigration meet the constraints of the country's inflexible labour and housing markets. Marten Blix argues in this incisive book that with its sound public finances and high levels of trust, Sweden is well placed to respond to the pressures, and he describes a route through these challenges; but it will require some profound institutional changes. The Swedish Model of the future will have to look very different if it is to succeed.' --Diane Coyle, University of Manchester, UK'Using the economic and social laboratory of Sweden, Mårten Blix provides a fascinating window into the future of the welfare state with the threats and opportunities from a massive increase in immigration and rapid digitilisation of the economy. The Swedish Model's core features of collective bargaining, broad unionisation and a strong fiscal base are eroding, increasing inequality and challenging the legitimacy of the political consensus to date. His interesting observations and balanced analysis of the growing importance of platform-based jobs and life-long learning have implications much beyond Sweden.' --Erik Berglöf, London School of Economics, UK'While the treatment of a Citizen's Income is inadequate, this is a most useful book and particularly useful is its focus on Sweden.' --Citizen's IncomeTable of ContentsContents: Preface 1. A Perfect Storm 2. The Welfare State in Transition 3. The Labor Market in Transition 4. Digitalization Changing the Economy and the Labor Market 5. Fiscal Pressures from Digitalization and Immigration 6. Immigration, Inequality and Skills in the Digital Economy 7. Future Challenges for the Welfare State Index

Read more less

Book SynopsisPresenting a profound and far-reaching analysis of economic, ecological, social, cultural and political developments of contemporary capitalism, this book draws on the work of Karl Polanyi, and re-reads it for our times. The renowned authors offer key insights to current changes in the relations between the economy, politics and society, and their ecological and social effects. They explore the commodification of land, labour, money, care and knowledge, and analyse labour and social movements, right-wing populism and religious fundamentalism. Bringing together insights from different parts of the world and from historical, theoretical and empirical research, the book sheds light on important facets of the crisis-driven transformation of contemporary capitalism. Social and political science scholars will greatly benefit from this timely analysis of contemporary capitalism. Those researching economic history and the impact of Polanyi's work on the analysis of the modern society will also find this a useful read. Contributors include: R. Atzmüller, B. Aulenbacher, R. Bärnthaler, K. Becker, D. Bohle, U. Brand, M. Brie, A. Bugra, M. Cangiani, F. Décieux, C. Deutschmann, K. Dörre, K. Fischer, C. Görg, B. Greskovits, B. Jessop, E. Langthaler, M. Leiblfinger, M. Markantonatou, A. Novy, A. Palumbo, K. Polanyi-Levitt, V. Satgar, B. Sauer, A. Scott, B. Silver, B. Stadelmann, C. Thomasberger, H.-J. Urban, B. Weicht, M. Williams, M. Wissen Trade Review'The book provides new historical and theoretical reflections on the work of Karl Polanyi and its relevance to today's movements and countermovements, including new fictitious commodities, such as knowledge and care, the rise of the populist right throughout the world and the transformation of labour markets.' --Marguerite Mendell, Director, Karl Polanyi Institute of Political Economy, Concordia University, Canada'What connects climate ecocide, soy expansion in Latin America, digital Taylorism, the commodification of care, and the rise of ''völkisch populism''? They're among the morbid symptoms of contemporary capitalism that are diagnosed in this important book.' --Gareth Dale, author of Karl Polanyi, A Life on the Left and Reconstructing Karl Polanyi: Excavation and Critique'Capitalism in Transformation is a work of cutting edge political economy that addresses, through the lens of Karl Polanyi, the fundamental issues of our times - the financial crises, austerity, climate catastrophe, social and gender inequality, and the pressing crisis of democracy. In a single provocative and essential volume, this collection reveals the analytic exhaustion of mainstream economics, and demonstrates why Karl Polanyi has become the indispensable theorist of our times.' --Margaret R. Somers and Fred Block, authors of The Power of Market Fundamentalism: Karl Polanyi's CritiqueTable of ContentsContents: Polanyian perspectives on the movements and countermovements of “our time”: an introduction Roland Atzmüller, Brigitte Aulenbacher, Ulrich Brand, Fabienne Décieux, Karin Fischer, Birgit Sauer PART I: Historical and theoretical reflections: Karl Polanyi, capitalism and society 1. A life-long search for freedom. From Budapest to America: a journey through Karl Polanyi’s life Kari Polanyi-Levitt interviewed by Michael Brie and Claus Thomasberger 2. “Plunges into utter destruction” and the limits of historical capitalism Beverly J. Silver 3. Crises and transformations: suggestions from Karl Polanyi’s works Michele Cangiani 4. Karl Polanyi as a theorist of disembedded markets Christoph Deutschmann 5. A Polanyian paradox: money and credit as fictitious commodities, financialization, finance-dominated accumulation, and financial crises Bob Jessop PART II: Contemporary developments of society and capitalism in Europe and beyond 6. Polanyian perspectives on capitalisms after socialism Dorothee Bohle and Béla Greskovits 7. Economy-society tensions in the Eurozone: the “anti-democratic virus” revived Maria Markantonatou 8. Political Islam as reactionary countermovement Ayşe Buğra 9. “Freedom’s utter frustration ...” Neoliberal social-policy reforms and the shift to the far-right through Polanyi’s theory of fascism Roland Atzmüller, Fabienne Décieux 10. Völkisch populism: a Polanyian-type movement? Karina Becker, Klaus Dörre 11. Cultural war 2.0? The relevance of gender in the radical populist-nationalist right Birgit Sauer PART III: “Fictitious commodities” and the challenges of ‘our time’ 12. Contested social-ecological transformation: shortcomings of current debates and Polanyian perspectives Ulrich Brand, Christoph Görg, Markus Wissen 13. Polanyi, nature and the international: the missing dimension of imperial ecocide Vishwas Satgar, Michelle Williams 14. Soy expansion and countermovements in the Global South: a Polanyian perspective Karin Fischer, Ernst Langthaler 15. Navigating between improvement and habitation: countermovements in housing and urban infrastructure in Vienna Andreas Novy, Richard Bärnthaler, Basil Stadelmann 16. The “fictitious commodity” care and the reciprocity of caring: a Polanyian and neo-institutionalist perspective on the brokering of 24-hour care Brigitte Aulenbacher, Michael Leiblfinger 17. The commodification of informal care: joining and resisting marketization processes Bernhard Weicht 18. Polanyi’s double movement and the making of the “knowledge economy” Antonino Palumbo, Alan Scott 19. Polanyi and the digital transformation of labour: on fictitious commodities and real conflicts Hans-Jürgen Urban Index

Read more less

Book SynopsisDegrowth in tourism is the voluntary shift to rebuild destinations and local economies in a way in which consumption, production and the exploitation of resources are minimal. It looks to ensure that the direction of institutional changes and the orientation of technological development are controlled and in harmony with the environment. Degrowth involves people whose use of personal time enhances the richness of the tourism experience through travelling less frequently, more slowly and in a low carbon way; taking time to support the environment, the local economy and to explore the local culture. Despite the significant role degrowth can play in destination development, it has rarely been examined from a tourism studies perspective. This book takes steps to address the paucity of combined research on tourism and degrowth by presenting emergent knowledge and research on this increasingly important concept. The book: Outlines the core theme of degrowth from a tourism perspective. Contains content enriched with contributions from multi-disciplinary academics from around the world. Puts theory into practice via international case studies. Due to the multidisciplinary nature of the book, the contents will appeal to researchers and postgraduates studying tourism, environmental studies, geography, planning and development and other related disciplines.Table of Contents1: Introduction - 2: (De)growth Imperative: The Importance of Destination Resilience in the Context of Overtourism 3: Community-based Tourism in a Degrowth Perspective 4: Degrowing the Commoditization Process in Community-based Tourism and Local Entrepreneurship 5: Political Discourse Analysis of the Degrowth Challenge to Dominant Tourism Narratives in Spain 6: Growing Degrowth-oriented Tourism? CSR Certified Tour Operators as Change Agents 7: The Kavatzas of Gavdos: Heterotopias Apart from Modern Societies 8: Pushed Over the Periphery: Downsides of Degrowth on a Small Island – Experiences of Tourism Degrowth on the Isle of Man 9: Freedom of Movement and Degrowth 10: Conclusion

Read more less

Book Synopsis'Hodgson's masterful review of orthodoxies and heterodoxies focuses on the absurdity of recommending planning, or scorning it, without answering the empirical question asked in the 1930s by the ''socialist calculation debate.'' How well does planning or the market work? Idealism assumes the answer without actually doing the science. - Deirdre N. McCloskey, University of Illinois at Chicago, US 'Every young heterodox scholar should read this book, as should veteran heterodox economists who are puzzled about why important heterodox contributions have not had the impact they deserved to have. The book provides a compelling account of the challenges that heterodox economists have faced, and continue to face, and it leaves the reader with a strong sense that things could have been, and could be, much better if more heterodox economists strove to integrate compatible aspects of the many diverse approaches that constitute heterodox economics.' - Peter E. Earl, University of Queensland, Australia 'Is there a future for the alternatives to mainstream economics? Dealing with this important question does not only require a deep understanding of the current economic theories and of the history of economic thought. It demands also a careful analysis of the institutional mechanisms by which scientific communities commit themselves to certain paradigms and change these commitments. In this excellent book Hodgson deals with all the dimensions of this complex issue.' - Ugo Pagano, University of Siena, Italy 'Drawing a well-balanced picture of heterodox economics with its many political shades and theoretical nuances is no easy task. Professor Hodgson's mastery in solving the task sets new standards. His compelling analysis of the state and the future of the field is a ''must read'' for everyone in the heterodox camp and an invaluable source of information for all scholars in the history, philosophy, and sociology of economics.' - Ulrich Witt, Max Planck Institute for the Science of Human History, Germany and Griffith University, Australia Over the last 50 years, and particularly since the financial crash in 2008, the community of heterodox economists has expanded, and its publications have proliferated. But its power in departments of economics has waned. Addressing this paradox, Geoffrey M. Hodgson argues that heterodox economists are defined more by a left ideology than by a shared understanding of the nature of orthodox economics and of what should replace it. Heterodox economists cannot agree on what heterodoxy means. Employing insights from the sociology and philosophy of science, the author explores the marginalization of heterodox economics in the academic community and its exclusion from positions of power. This perceptive book also shows how the weaknesses of a particular version of heterodoxy stemming from the Cambridge economics of the 1970s have been replicated globally in much of contemporary heterodox economics. The author considers how the field can adapt in order to improve and sustain its presence in academia. Social scientists and economists will find this book both enlightening and useful. In particular, it will be invaluable to student networks and others critical of mainstream economics, and to those teaching economics at undergraduate and postgraduate level.Trade Review‘ . . . all heterodox economists—both young and veteran, both left and right leaning—should read this thought-provoking book. Indeed, every economist or other social scientist interested in successful and unsuccessful academic strategies and all of those puzzled about the reasons why important heterodox contributions haven’t permeated the mainstream economic profession should read this book. . . . This book certainly offers a compelling explanation of why heterodox economics has not been successful at retaining academic power and influence within the economics profession, and it explains the challenges that the heterodox community must face in order to successfully challenge the current orthodoxy.’ -- Pablo Paniagua Preito, Cosmos + Taxis'Hodgson provides the most comprehensive examination of the foundations and direction of heterodox economics to date. This book should be required reading for all those engaged in building alternatives to mainstream economics. Strongly recommended.' -- John B. Davis, Marquette University, US and University of Amsterdam, the Netherlands'The heterodox economics project, born in the golden age of Cambridge Economics, has largely failed to develop a core consensus and build a strong and effective scientific community. Geoff Hodgson has written an engrossing explanation of what went wrong. Every heterodox economist should read this book.' -- Jason Potts, RMIT University, Australia'An excellent critical survey of a great deal of material loosely called heterodox, plus suggestions as to how that part of the subject might be developed in the future - making it, among other things, a guide for those who wish to do further work in this area. I know of nothing else like it in the literature.' --Richard G. Lipsey, Simon Fraser University,‘Hodgson's masterful review of orthodoxies and heterodoxies focuses on the absurdity of recommending planning, or scorning it, without answering the empirical question asked in the 1930s by the “socialist calculation debate.” How well does planning or the market work? Idealism assumes the answer without actually doing the science.’ -- Deirdre N. McCloskey, University of Illinois at Chicago, US‘Every young heterodox scholar should read this book, as should veteran heterodox economists who are puzzled about why important heterodox contributions have not had the impact they deserved to have. The book provides a compelling account of the challenges that heterodox economists have faced, and continue to face, and it leaves the reader with a strong sense that things could have been, and could be, much better if more heterodox economists strove to integrate compatible aspects of the many diverse approaches that constitute heterodox economics.’ -- Peter E. Earl, University of Queensland, Australia‘Is there a future for the alternatives to mainstream economics? Dealing with this important question does not only require a deep understanding of the current economic theories and of the history of economic thought. It demands also a careful analysis of the institutional mechanisms by which scientific communities commit themselves to certain paradigms and change these commitments. In this excellent book Hodgson deals with all the dimensions of this complex issue.’ -- Ugo Pagano, University of Siena, Italy‘Drawing a well-balanced picture of heterodox economics with its many political shades and theoretical nuances is no easy task. Professor Hodgson's mastery in solving the task sets new standards. His compelling analysis of the state and the future of the field is a “must read” for everyone in the heterodox camp and an invaluable source of information for all scholars in the history, philosophy, and sociology of economics.’ -- Ulrich Witt, Max Planck Institute for the Science of Human History, Germany and Griffith University, AustraliaTable of ContentsContents: Preface INTRODUCTION 1. Space exists to stop everything happening in Cambridge 2. What is heterodox economics? 3. Rumours of the death of Max U are exaggerated 4. The separate heterodoxy of evolutionary economics 5. Heterodox economics as a scientific community 6. Some possible ways forward References Index

Read more less

Book Synopsis'Hodgson's masterful review of orthodoxies and heterodoxies focuses on the absurdity of recommending planning, or scorning it, without answering the empirical question asked in the 1930s by the ''socialist calculation debate.'' How well does planning or the market work? Idealism assumes the answer without actually doing the science. - Deirdre N. McCloskey, University of Illinois at Chicago, US 'Every young heterodox scholar should read this book, as should veteran heterodox economists who are puzzled about why important heterodox contributions have not had the impact they deserved to have. The book provides a compelling account of the challenges that heterodox economists have faced, and continue to face, and it leaves the reader with a strong sense that things could have been, and could be, much better if more heterodox economists strove to integrate compatible aspects of the many diverse approaches that constitute heterodox economics.' - Peter E. Earl, University of Queensland, Australia 'Is there a future for the alternatives to mainstream economics? Dealing with this important question does not only require a deep understanding of the current economic theories and of the history of economic thought. It demands also a careful analysis of the institutional mechanisms by which scientific communities commit themselves to certain paradigms and change these commitments. In this excellent book Hodgson deals with all the dimensions of this complex issue.' - Ugo Pagano, University of Siena, Italy 'Drawing a well-balanced picture of heterodox economics with its many political shades and theoretical nuances is no easy task. Professor Hodgson's mastery in solving the task sets new standards. His compelling analysis of the state and the future of the field is a ''must read'' for everyone in the heterodox camp and an invaluable source of information for all scholars in the history, philosophy, and sociology of economics.' - Ulrich Witt, Max Planck Institute for the Science of Human History, Germany and Griffith University, Australia Over the last 50 years, and particularly since the financial crash in 2008, the community of heterodox economists has expanded, and its publications have proliferated. But its power in departments of economics has waned. Addressing this paradox, Geoffrey M. Hodgson argues that heterodox economists are defined more by a left ideology than by a shared understanding of the nature of orthodox economics and of what should replace it. Heterodox economists cannot agree on what heterodoxy means. Employing insights from the sociology and philosophy of science, the author explores the marginalization of heterodox economics in the academic community and its exclusion from positions of power. This perceptive book also shows how the weaknesses of a particular version of heterodoxy stemming from the Cambridge economics of the 1970s have been replicated globally in much of contemporary heterodox economics. The author considers how the field can adapt in order to improve and sustain its presence in academia. Social scientists and economists will find this book both enlightening and useful. In particular, it will be invaluable to student networks and others critical of mainstream economics, and to those teaching economics at undergraduate and postgraduate level.Trade Review‘ . . . all heterodox economists—both young and veteran, both left and right leaning—should read this thought-provoking book. Indeed, every economist or other social scientist interested in successful and unsuccessful academic strategies and all of those puzzled about the reasons why important heterodox contributions haven’t permeated the mainstream economic profession should read this book. . . . This book certainly offers a compelling explanation of why heterodox economics has not been successful at retaining academic power and influence within the economics profession, and it explains the challenges that the heterodox community must face in order to successfully challenge the current orthodoxy.’ -- Pablo Paniagua Preito, Cosmos + Taxis'Hodgson provides the most comprehensive examination of the foundations and direction of heterodox economics to date. This book should be required reading for all those engaged in building alternatives to mainstream economics. Strongly recommended.' -- John B. Davis, Marquette University, US and University of Amsterdam, the Netherlands'The heterodox economics project, born in the golden age of Cambridge Economics, has largely failed to develop a core consensus and build a strong and effective scientific community. Geoff Hodgson has written an engrossing explanation of what went wrong. Every heterodox economist should read this book.' -- Jason Potts, RMIT University, Australia'An excellent critical survey of a great deal of material loosely called heterodox, plus suggestions as to how that part of the subject might be developed in the future - making it, among other things, a guide for those who wish to do further work in this area. I know of nothing else like it in the literature.' --Richard G. Lipsey, Simon Fraser University,‘Hodgson's masterful review of orthodoxies and heterodoxies focuses on the absurdity of recommending planning, or scorning it, without answering the empirical question asked in the 1930s by the “socialist calculation debate.” How well does planning or the market work? Idealism assumes the answer without actually doing the science.’ -- Deirdre N. McCloskey, University of Illinois at Chicago, US‘Every young heterodox scholar should read this book, as should veteran heterodox economists who are puzzled about why important heterodox contributions have not had the impact they deserved to have. The book provides a compelling account of the challenges that heterodox economists have faced, and continue to face, and it leaves the reader with a strong sense that things could have been, and could be, much better if more heterodox economists strove to integrate compatible aspects of the many diverse approaches that constitute heterodox economics.’ -- Peter E. Earl, University of Queensland, Australia‘Is there a future for the alternatives to mainstream economics? Dealing with this important question does not only require a deep understanding of the current economic theories and of the history of economic thought. It demands also a careful analysis of the institutional mechanisms by which scientific communities commit themselves to certain paradigms and change these commitments. In this excellent book Hodgson deals with all the dimensions of this complex issue.’ -- Ugo Pagano, University of Siena, Italy‘Drawing a well-balanced picture of heterodox economics with its many political shades and theoretical nuances is no easy task. Professor Hodgson's mastery in solving the task sets new standards. His compelling analysis of the state and the future of the field is a “must read” for everyone in the heterodox camp and an invaluable source of information for all scholars in the history, philosophy, and sociology of economics.’ -- Ulrich Witt, Max Planck Institute for the Science of Human History, Germany and Griffith University, AustraliaTable of ContentsContents: Preface INTRODUCTION 1. Space exists to stop everything happening in Cambridge 2. What is heterodox economics? 3. Rumours of the death of Max U are exaggerated 4. The separate heterodoxy of evolutionary economics 5. Heterodox economics as a scientific community 6. Some possible ways forward References Index

Read more less

Book SynopsisAfter being proclaimed dead, there is now a major revival of socialist ideology in the West. But what does socialism mean? This book shows that it is irretrievably associated with common ownership. The twentieth-century experience of comprehensive national planning with state ownership has been disastrous, and in no case has democracy endured within large-scale socialism. This volume explains why. The alternative socialist option of worker-owned cooperatives must accept a major role for markets that many socialists reject. Featuring theoretical arguments and practical investigations, Geoffrey M. Hodgson interrogates the failures of socialist states, scrutinizing the impact and outcomes of a centralized politico-economic system. This timely and convincing book offers insight into the twentieth-century experience of comprehensive national planning, deploying less-well-known criticisms from Albert Schaffle and Michael Polanyi. Hodgson's nuanced approach brings together small-scale socialist praxis and principles of liberal solidarity, exploring an experimental approach to political and economic reform. Provocative, insightful and accessible, this book is of considerable interest to any reader with an appetite for the history of socialist theory, as well as those keen to explore new insights to heterodox economics. Students and academics of the social sciences and humanities will benefit from this book's rigorous empirical approach to historic and contemporary socialist states and its in-depth discussion of Austrian school theory.Trade Review'Socialism is being offered by the likes of Bernie Sanders, Jeremy Corbyn and Alexandra Ocasio-Cortez as a humane and democratic solution to pressing economic and environmental problems. Geoff Hodgson, the world's foremost scholar on institutions of economic systems, has written a vital and urgent book explaining why this utopian dream is infeasible.' --Jason Potts, RMIT University, AustraliaTable of ContentsContents: Preface Introduction Part I: Socialism, markets and democracy 1. What does socialism mean? 2. Small socialism requires frugality or markets 3. Big socialism brings stagnation and despotism 4. Knowledge, complexity and the limits to planning Part II: Towards a feasible alternative: liberal solidarity 5. Social knowledge and freedom to choose 6. The limits and indispensability of states and markets 7. Varieties of capitalism: the realms of the possible 8. The making of liberal solidarity References Index

Read more less

Book SynopsisAfter being proclaimed dead, there is now a major revival of socialist ideology in the West. But what does socialism mean? This book shows that it is irretrievably associated with common ownership. The twentieth-century experience of comprehensive national planning with state ownership has been disastrous, and in no case has democracy endured within large-scale socialism. This volume explains why. The alternative socialist option of worker-owned cooperatives must accept a major role for markets that many socialists reject. Featuring theoretical arguments and practical investigations, Geoffrey M. Hodgson interrogates the failures of socialist states, scrutinizing the impact and outcomes of a centralized politico-economic system. This timely and convincing book offers insight into the twentieth-century experience of comprehensive national planning, deploying less-well-known criticisms from Albert Schaffle and Michael Polanyi. Hodgson's nuanced approach brings together small-scale socialist praxis and principles of liberal solidarity, exploring an experimental approach to political and economic reform. Provocative, insightful and accessible, this book is of considerable interest to any reader with an appetite for the history of socialist theory, as well as those keen to explore new insights to heterodox economics. Students and academics of the social sciences and humanities will benefit from this book's rigorous empirical approach to historic and contemporary socialist states and its in-depth discussion of Austrian school theory.Trade Review'Socialism is being offered by the likes of Bernie Sanders, Jeremy Corbyn and Alexandra Ocasio-Cortez as a humane and democratic solution to pressing economic and environmental problems. Geoff Hodgson, the world's foremost scholar on institutions of economic systems, has written a vital and urgent book explaining why this utopian dream is infeasible.' --Jason Potts, RMIT University, AustraliaTable of ContentsContents: Preface Introduction Part I: Socialism, markets and democracy 1. What does socialism mean? 2. Small socialism requires frugality or markets 3. Big socialism brings stagnation and despotism 4. Knowledge, complexity and the limits to planning Part II: Towards a feasible alternative: liberal solidarity 5. Social knowledge and freedom to choose 6. The limits and indispensability of states and markets 7. Varieties of capitalism: the realms of the possible 8. The making of liberal solidarity References Index

Read more less

Book SynopsisThis Modern Guide explores central ideas, concepts, and themes in the Austrian school of economics, with a focus on how both the school and the overall theory have evolved over recent decades. Leading scholars offer their insights into potential directions of future research in the field, pointing towards contemporary debates and their potential conclusions, underdeveloped aspects and extensions of theory, and current applications of interest.Spanning theories of entrepreneurship to the theory of the business cycle, from methodology to sociology, and from cryptocurrencies to culture, this clear and concise Modern Guide provides an expert curation of the topic. Chapters offer an overview of the present state of scholarship in the field, including discussions on praxeology, the function of entrepreneurship in the market process, spontaneous orders, the Austrian theory of money, and banking.Written in an accessible style, this will be an invigorating read for economics scholars looking for an alternative to mainstream approaches. It will also be useful for scholars and practitioners seeking an introduction to Austrian economics.Table of ContentsContents Introduction to A Modern Guide to Austrian Economics 1 Per L. Bylund 1 Praxeology 6 Roderick T. Long 2 Austrian phenomenology 17 Mark D. Packard 3 Alertness: an Aristotelian approach 39 Frederic Sautet 4 Entrepreneurial judgment 64 Peter G. Klein and Matthew McCaffrey 5 Entrepreneurship and the market process 84 Per L. Bylund 6 Spontaneous order 103 Karras J. Lambert and Peter J. Boettke 7 The social and moral aspects of markets 121 Ginny Seung Choi and Virgil Henry Storr 8 Economic calculation and socialism 142 Krzysztof Turowski and Mateusz Machaj 9 Money 165 Joseph T. Salerno and Kristoffer J. M. Hansen 10 Banking 182 David Howden 11 On the origins of cryptocurrencies 200 William J. Luther and Nikhil Sridhar 12 The pure time preference theory of interest 216 Robert P. Murphy 13 Capital theory and the theory of the firm 238 Nicolás Cachanosky and Peter Lewin 14 Austrian business cycle theory: current research trends and future directions 257 Jonathan R. Newman and Arkadiusz Sieroń 15 Austrian sociology 283 Richard G. Ellefritz Index

Read more less

Book SynopsisMuch-needed in the face of present political upheavals, including the rise of populism and re-emergence of nationalism and authoritarian regimes, this book is radical in both its critique and proposals for a new economics. Taking an interdisciplinary approach, Bart Nooteboom offers insights from economics, sociology, cognitive science, social psychology and philosophy. Exploring ways in which economics is developing, the book investigates how new economics has moved away from considering individuals as autonomous and instead studies their involvement and interactions with each other. The book discusses a new relational economics: less contractual, hierarchical and controlled, and more based on trust and mutual adjustment. Nooteboom proposes a shift from utility ethics to the virtue ethics of prudence, courage, moderation and justice. A provocative read for economics students, this work is especially pertinent to those interested in rethinking the subject and expanding upon heterodox theories. It will also prove a useful read to critical economists and sociologists looking to better understand a way forward in our current economic climate. Trade Review'Based on a life-long experience as a social scientist, Bart Nooteboom explains how economics can become more relevant by importing insights from other disciplines. He brings economics back to its Aristotelian origins by linking it to virtue ethics. This is a must-read for anybody interested in the future of economics.' --Lans Bovenberg, Tilburg University, the Netherlands'Bart Nooteboom presents a bold, cogent and well written book about economics. This compact manifesto hits a nerve. The (global) economy and economics as a discipline are in a moult. By re-entering virtue ethics in economics and through sound reasoning about the structure and conduct of capitalism, markets and industries, Bart Nooteboom provides the reader with a bright perspective for a prosperous society.' --Harry Commandeur, Erasmus University Rotterdam, the NetherlandsTable of ContentsContents: Introduction 1. Crisis of capitalism 2. Economics 3. Markets 4. Industries 5. A new economics Bibliography Index

Read more less

Book SynopsisMuch-needed in the face of present political upheavals, including the rise of populism and re-emergence of nationalism and authoritarian regimes, this book is radical in both its critique and proposals for a new economics. Taking an interdisciplinary approach, Bart Nooteboom offers insights from economics, sociology, cognitive science, social psychology and philosophy. Exploring ways in which economics is developing, the book investigates how new economics has moved away from considering individuals as autonomous and instead studies their involvement and interactions with each other. The book discusses a new relational economics: less contractual, hierarchical and controlled, and more based on trust and mutual adjustment. Nooteboom proposes a shift from utility ethics to the virtue ethics of prudence, courage, moderation and justice. A provocative read for economics students, this work is especially pertinent to those interested in rethinking the subject and expanding upon heterodox theories. It will also prove a useful read to critical economists and sociologists looking to better understand a way forward in our current economic climate. Trade Review'Based on a life-long experience as a social scientist, Bart Nooteboom explains how economics can become more relevant by importing insights from other disciplines. He brings economics back to its Aristotelian origins by linking it to virtue ethics. This is a must-read for anybody interested in the future of economics.' --Lans Bovenberg, Tilburg University, the Netherlands'Bart Nooteboom presents a bold, cogent and well written book about economics. This compact manifesto hits a nerve. The (global) economy and economics as a discipline are in a moult. By re-entering virtue ethics in economics and through sound reasoning about the structure and conduct of capitalism, markets and industries, Bart Nooteboom provides the reader with a bright perspective for a prosperous society.' --Harry Commandeur, Erasmus University Rotterdam, the NetherlandsTable of ContentsContents: Introduction 1. Crisis of capitalism 2. Economics 3. Markets 4. Industries 5. A new economics Bibliography Index

Read more less

Book SynopsisPresenting a concise overview of the post-war decline in popularity of the Austrian school of economics and its subsequent revival in the late twentieth century, this updated second edition offers a theoretical and historical introduction to the ideas of the Austrian school and its intellectually distinguishing qualities. Featuring fresh and insightful comparisons between the Austrian school and other schools of thought, this enhanced second edition includes an expanded discussion on the evolution of the Austrian school in the 21st century. The Advanced Introduction considers the field's key originators and proponents and reflects on the acceleration in interest in the last two decades. Key features include: An illustration of the key arguments that have defined heterodox economics, including the Austrian school's role in the socialist calculation debate In-depth discussions of entrepreneurship and the role of the firm in the scholarship of the Austrian school New material relating Austrian economics to other schools of thought. Undergraduate and graduate students in economics and political science will find this Advanced Introduction indispensable for understanding the revival of the Austrian school. Policymakers will also benefit from its concise and sharp overview of the school and its insights into the key features and debates. Trade Review'Randall Holcombe accomplishes a heroic feat in this book. In plain and concise language, he sets out the fundamental principles and theories of the Austrian School of Economics. The presentation is coherent and rigorous, without being tedious or pedantic. It can be read with great profit by undergraduates as well as their instructors. Indeed, this book is indispensable reading for anyone who seeks a broad-based and insightful introduction to the doctrines of the Austrian school in a compact format.' --Joseph Salerno, Pace University, US'What book should I read to understand the Austrian School of Economics? It's a question I've been asked at least a hundred times by economics students and business professionals. I've never had a good answer until now. As an introduction to Austrian ideas for those who are economically literate, Randall Holcombe's book is the new gold standard!' --Benjamin Powell, Texas Tech University, US'Economists should strive to think clearly and write clearly in presenting their work to their peers, students and the public. I would go as far as to argue that it is actually a moral responsibility on them to do so. Randall Holcombe never disappoints in this regard as he is an exemplar of a clear thinker and writer. In this revised and updated edition of his wonderful text, he clearly presents the main tenets of the Austrian School of Economics from Carl Menger to contemporary practitioners. Along the way, he explains in clear terms the ideas of others who debated with the Austrians on methodology of social sciences, the methods of analysis with regard to the study of the market process and a capital-using and money-using economic system, and the practical policy implications of these positions with respect to the debate over socialist economic calculation, the debate with Keynes and macroeconomic management, and the debates over interference in the entrepreneurial market process through regulations and various controls. It is a masterful work in clarity of thinking and writing about often complex and complicated issues in philosophy, social science and public policy.' --Peter Boettke, George Mason University, USTable of ContentsContents: Preface 1. The market process 2. Decentralized knowledge: the role of firms and markets 3. Economic calculation 4. Money, banking and business cycles 5. The resurgence of the Austrian school References Index

Read more less

Book SynopsisPresenting a concise overview of the post-war decline in popularity of the Austrian school of economics and its subsequent revival in the late twentieth century, this updated second edition offers a theoretical and historical introduction to the ideas of the Austrian school and its intellectually distinguishing qualities. Featuring fresh and insightful comparisons between the Austrian school and other schools of thought, this enhanced second edition includes an expanded discussion on the evolution of the Austrian school in the 21st century. The Advanced Introduction considers the field's key originators and proponents and reflects on the acceleration in interest in the last two decades. Key features include: An illustration of the key arguments that have defined heterodox economics, including the Austrian school's role in the socialist calculation debate In-depth discussions of entrepreneurship and the role of the firm in the scholarship of the Austrian school New material relating Austrian economics to other schools of thought. Undergraduate and graduate students in economics and political science will find this Advanced Introduction indispensable for understanding the revival of the Austrian school. Policymakers will also benefit from its concise and sharp overview of the school and its insights into the key features and debates. Trade Review'Randall Holcombe accomplishes a heroic feat in this book. In plain and concise language, he sets out the fundamental principles and theories of the Austrian School of Economics. The presentation is coherent and rigorous, without being tedious or pedantic. It can be read with great profit by undergraduates as well as their instructors. Indeed, this book is indispensable reading for anyone who seeks a broad-based and insightful introduction to the doctrines of the Austrian school in a compact format.' --Joseph Salerno, Pace University, US'What book should I read to understand the Austrian School of Economics? It's a question I've been asked at least a hundred times by economics students and business professionals. I've never had a good answer until now. As an introduction to Austrian ideas for those who are economically literate, Randall Holcombe's book is the new gold standard!' --Benjamin Powell, Texas Tech University, US'Economists should strive to think clearly and write clearly in presenting their work to their peers, students and the public. I would go as far as to argue that it is actually a moral responsibility on them to do so. Randall Holcombe never disappoints in this regard as he is an exemplar of a clear thinker and writer. In this revised and updated edition of his wonderful text, he clearly presents the main tenets of the Austrian School of Economics from Carl Menger to contemporary practitioners. Along the way, he explains in clear terms the ideas of others who debated with the Austrians on methodology of social sciences, the methods of analysis with regard to the study of the market process and a capital-using and money-using economic system, and the practical policy implications of these positions with respect to the debate over socialist economic calculation, the debate with Keynes and macroeconomic management, and the debates over interference in the entrepreneurial market process through regulations and various controls. It is a masterful work in clarity of thinking and writing about often complex and complicated issues in philosophy, social science and public policy.' --Peter Boettke, George Mason University, USTable of ContentsContents: Preface 1. The market process 2. Decentralized knowledge: the role of firms and markets 3. Economic calculation 4. Money, banking and business cycles 5. The resurgence of the Austrian school References Index

Read more less

Book SynopsisIn a series of in-depth interviews with leading economists and policy-makers from different schools including Austrian, Monetarist, New-Keynesian, Post-Keynesian, Modern Monetary Theory, Marxist and Institutionalist, this intriguing book sheds light upon the behaviour of economists and the sociology of the economics profession by enabling economists to express their views on a wide range of issues. Exploring why the aftermath of the 2008 global financial crisis did not pave the way for an uptake in heterodox economic approaches, these key thinkers consider why mainstream economics still reigns supreme and explore whether an alternative approach can be developed to rival it. The most important issues facing the discipline are addressed, and the book offers a particular focus upon the extent to which radical economists can work together to provide a genuine alternative to orthodoxy. The analytical responses to important questions posed to each interviewee make this a critical read for practising economists both inside and outside of academia. It will also be a thought-provoking book for economics students focusing both on orthodox and heterodox viewpoints, as it offers important insights to the nuances between a vast range of different schools of thought.Trade Review‘If one is a student of this discipline, the range of views presented in full is invaluable. I cannot recommend this text more.’ -- Hannes Ingo Torbohm, The Gower Initiative for Modern Money Studies'Can Heterodox Economics Make a Difference? is a very thought provoking book; a fascinating tour with key thinkers on MMT, heterodox economics, methodology and much more. There are authentic gems in those interviews. Please read on!' --Giuseppe Fontana, University of Leeds, UK and Università del Sannio, Italy'Philip Armstrong's rich conversations with heterodox economists explore, perhaps for the first time in depth, the perceptions and misperceptions of Modern Monetary Theory as seen across the spectrum of Keynesian, Marxian, Structuralist and Austrian thought, alongside the insights and arguments of leading proponents of the MMT school. For reading and reference, a valuable and timely book.' --James K. Galbraith, The University of Texas at Austin, US‘Philip Armstrong's rich conversations with heterodox economists explore, perhaps for the first time in depth, the perceptions and misperceptions of Modern Monetary Theory as seen across the spectrum of Keynesian, Marxian, Structuralist and Austrian thought, alongside the insights and arguments of leading proponents of the MMT school. For reading and reference, a valuable and timely book.’ -- James K. Galbraith, The University of Texas at Austin, US'The reader can ''listen in'' to all these conversations where questions are addressed, and debate engaged, from different perspectives. By engaging vicariously in the exchanges we are encouraged to rethink our own positions, and consider how to strengthen or amend them. Much of the success of the interviews is down to the engaging interview style of Phil Armstrong, whose thoughtful questions, openness to different arguments (at different levels), and eagerness to engage in civil debate, are the hallmarks of pluralism. Enjoy.' --from the Foreword by Sheila Dow, University of Stirling, UK‘These interviews and records are full of illuminations and enrich our understanding of modern economics, its problems as well as its achievements. We are much in Phil’s debt for bringing the interviews together. His enthusiasm and deep thinking run beneath the text of the volume. Please read on.’ -- from the Foreword by Geoff Harcourt, University of New South Wales, AustraliaTable of ContentsContents: Preface Foreword I: Professor Geoffrey Harcourt Foreword II: Professor Sheila Dow Introduction The Biographies of the Interviewees Part 1: Round one (R1) interviews (2018) i. Professor Victoria Chick ii. Professor Tim Congdon CBE iii Professor Paul Davidson iv. Professor Kevin Dowd v. Professor Roger Farmer vi. Professor Charles Goodhart FBA vii. Professor Geoffrey Harcourt viii. Dr. James Juniper ix. Professor Andrew Kliman x. Professor Marc Lavoie xi. Professor William (Bill) Mitchell xii. Warren Mosler xiii. Dr. Thomas Palley xiv. Professor Ricardo Reis xv. Professor Malcolm Sawyer xvi. Professor Willi Semmler xvii. Professor Anwar Shaikh xviii. Professor Englebert Stockhammer xix. Professor Martin Watts xx. Professor L. Randall Wray Part 2: Round Two (R2) 2019 i. Professor David Colander ii. Professor Sheila Dow iii. Professor Scott Ferguson iv. Professor Geoff Hodgson v. Professor Jonathan Joseph vi. Professor Steve Keen vii. Professor Tony Lawson viii. Professor Jamie Morgan ix. Dr. Ioana Negru x. Professor Nick Potts xi. Professor John Smithin Conclusion Bibliography Appendix 1: R1 and R2 questions Appendix 2: MMT White Paper by Warren Mosler Index

Read more less

Book SynopsisLarge infrastructure projects often face significant cost overruns and stakeholder fragmentation. Public-Private Partnerships (PPPs) allow governments to procure long-term infrastructure services from private providers, rather than developing, financing and managing infrastructure assets themselves. Aligning public and private interests and institutional logics to create robust, decades-long service contracts subject to shifting economic and political contexts is a significant cross-sectoral governance challenge. This work summarizes over a decade of research conducted by scholars at Stanford s Global Projects Center and multiple US and International collaborators to enhance the governance of both infrastructure projects and institutional investors, whose long term, cash flow obligations align especially well with the kinds of long term inflation-adjusted returns that PPP infrastructure projects can generate. In these pages, multiple theoretical perspectives are integrated and combined with empirical evidence to examine how experiences from more mature PPP jurisdictions can help improve PPP governance approaches worldwide. The information contained here will appeal to engineering, economics, political science, public policy and finance scholars interested in the delivery of high-quality, sustainable infrastructure services to the citizens in countries with established and emerging market economies. Officials in national, state/provincial and local government agencies seeking alternative financing and service provision strategies for their civil and social infrastructure, and legislators and their staff members interested in promoting PPP legislation will find this book invaluable. It will also be of high interest to long-term investment professionals from pension funds, sovereign funds, family offices and university endowments seeking to deploy money into the infrastructure asset class, and practitioners seeking insights into methods for enhancing stakeholder incentive alignment, reducing transaction costs and improving project outcomes in PPPs. Contributors: B.G. Cameron, G. Carollo, C.B. Casady, E.F. Crawley, K. Eriksson, W. Feng, M.J. Garvin, K.E. Gasparro, R.R. Geddes, W.J. Henisz, D.R. Lessard, R.E. Levitt, T. Liu, A.H.B. Monk, D.A. Nguyen, C. Nowacki, W.R. Scott, R. Sharma, A.J. SouthTrade Review'In conclusion, the editors of the book have collected a series of chapters that provide a valuable and contemporary look into the state of practice of PPP in the United States, it offers various interesting proposals for the improved institutional design of PPPs, and it inspires and strengthens the comparative research agenda on studying the performance and design of PPPs.' --Stefan Verweij, Public Works Management & Policy'This is the book on infrastructure development that researchers and practitioners have been waiting for. It brings together some of the world's leading scholars - several based in the Global Project Center at Stanford University - to provide a rigorous analysis and critical discussion of the challenges involved in the governance, financing and management of mature and innovative new forms of PPP transportation infrastructure projects. While the work addresses a diverse range of topics concerning the risks and opportunities for PPP provision in developing and developed countries, each chapter draws upon a shared intellectual framework and is informed by ideas and concepts from organization theory and design.' --Andrew Davies, University College London, UK'This is a remarkable contribution to the growing literature on infrastructure financing and management. Ray Levitt and his colleagues provide the fundamental conceptual building blocks for understanding how public-private partnerships can transform the market for infrastructure development. They do so with a sure feel for the theoretical issues as well as the very practical concerns that come with stitching together public, private, and community interests in infrastructure investment. Each paper is important in its own right - and the combination is unbeatable. This book will make a lasting contribution to how we understand the issues and is just as important for the emerging economic powerhouse of China and the developed economies of the West.' --Gordon Clark, Oxford University, UKTable of ContentsContents: Introduction W. Richard Scott, Raymond E. Levitt and Michael J. Garvin Part I: Public-Private Partnerships: Definitions, Myths and Institutional Challenges W. Richard Scott, Raymond E. Levitt and Michael J. Garvin 1. Public-Private Partnerships for Infrastructure Delivery Ashby H. B. Monk, Raymond E. Levitt, Michael J. Garvin, Andrew J. South, and George Carollo 2. Stakeholder Network Dynamics in Public-Private Partnerships Andrew J. South 3. Toward a Unified Theory of Project Governance: Economic, Sociological and Psychological Supports for Relational Contracting Witold J. Henisz, Raymond E. Levitt, and W. Richard Scott 4. Stakeholders, Issues, and the Shaping of Large Engineering Projects Wen Feng, Donald R. Lessard, Bruce G. Cameron, and Edward F. Crawley Part II: Governance Mechanisms in PPP Planning, Delivery, Contracting and Management Introduction to Part II Raymond E. Levitt, W. Richard Scott, and Michael J. Garvin 5. Mitigating PPP Governance Challenges: Lessons from Eastern Australia Raymond E. Levitt and Kent Eriksson 6. Contractual Risk Sharing Mechanisms in US Highway PPP Projects Duc A. Nguyen and Michael J. Garvin Part III: Leveraging Institutional Capital and Governmental Fiscal Support for PPPs to Enable the “Golden Handshake” Michael J. Garvin, W. Richard Scott, and Raymond E. Levitt 7. The Role of Institutional Investors for PPP Infrastructure Investments Ashby H. B. Monk and Rajiv Sharma 8. Framework to Assess Fiscal Support Mechanisms for Mitigating Revenue Risk in Transportation Public-Private Partnerships Ting Liu and Michael J. Garvin Part IV: Evolution of Mature PPP Institutional Fields W. Richard Scott, Raymond E. Levitt, and Michael J. Garvin 9. (Re)Assessing Public-Private Partnership Governance Challenges: An Institutional Maturity Perspective Carter B. Casady, Kent Eriksson, Raymond E. Levitt, and W. Richard Scott 10. Transportation Public-Private Partnership Market in the United States: Moving Beyond Its Current State Michael J. Garvin 11. Private Participation in US Infrastructure: The Role of Regional PPP Units Carter B. Casady and R. Richard Geddes Part V: Emerging Tools for Infrastructure Project Finance and Delivery Raymond E. Levitt, W. Richard Scott and Michael J. Garvin 12. The Financier State: Infrastructure Planning and Asset Recycling in New South Wales, Australia Caroline Nowacki 13. Community Investment and Crowdfunding as Partnership Strategies for Local Infrastructure Delivery Kate E. Gasparro Bibliography Index

Read more less

Book SynopsisElgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.This thought-provoking Research Agenda examines themes within economic studies that have become active areas of commentary for economists of the Austrian School. Contributors establish their own distinctive interpretations of how an Austrian Research Agenda should appear, clearly demonstrating there is no set dogma within Austrian economics.Chapters provide state-of-the-art dialogues surrounding the many complex dimensions of Austrian economics, including the School’s responses to behavioral economics and the theory of public goods. This book portrays Austrian economics as constantly evolving and its ultimate endeavour is to prompt further contributions and discussions surrounding the Austrian School. This erudite Research Agenda will be highly beneficial for graduate students studying political economics, market processes and economic development, seeking to understand the unique dimensions of Austrian economics. It will also be of great value to academics endeavouring to conduct comparative studies of different economic schools of thought.Trade Review‘The wide-ranging chapters in this volume will be of great interest to scholars from across the social sciences. They demonstrate that Austrian economics remains a lively and progressive research program with important contributions to make to the most pressing issues in contemporary scholarship and policy.’ -- Christopher Coyne, George Mason University, US‘A Research Agenda for Austrian Economics offers an overview of the most recent contributions of modern Austrian economics to some of the most pressing issues of political economy. The chapter authors are highly regarded scholars in their area of expertise and do a remarkable job summarizing the latest research in their field. More importantly, they demonstrate how Austrian economics is usefully contributing to that literature and identify research avenues for future work in Austrian economics. This book will be particularly useful for young scholars seeking to learn how to conduct relevant and cutting-edge research in Austrian economics.’ -- Daniel J. Smith, Middle Tennessee State University, US‘Austrian economics is steeped in history. But what of its future? To find out, A Research Agenda for Austrian Economics taps some of the tradition’s most prolific young scholars. Their chapters leave no doubt that the future of Austrian economics is bright. And Louis Rouanet’s opening address to fellow Austrians is magnificent.’ -- Peter T. Leeson, George Mason University, US‘The Austrian School was most clearly distinguished from mainstream economics in the latter half of the twentieth century as a result of the socialist calculation debate. With that issue settled, this book shows that the Austrian School’s ideas remain relevant to contemporary economic issues.’ -- Randall G. Holcombe, Florida State University, USTable of ContentsContents: Introduction to A Research Agenda for Austrian Economics xi Louis Rouanet 1 An Austrian perspective on militarism 1 Abigail R. Hall 2 Monetary policy and business cycles: a post-crisis research agenda for Austrian economics 21 Bryan P. Cutsinger 3 Austrian economics and mainstream entrepreneurship: retrospect and prospect 45 David S. Lucas 4 Knowledge and incentive problems in regulatory studies: an Austrian perspective 69 Diana W. Thomas and Michael D. Thomas 5 Reasonable disagreement: Austrian responses to behavioral economics 89 Ennio E. Piano 6 EPE and the Viennese students of civilization 113 Marta Podemska-Mikluch 7 Accounting and finance: capital and cost in economics 131 Peter Lewin and Nicolas Cachanosky 8 An Austrian reassessment of the theory of “public goods”: what is left (and right)? 147 Rosolino Candela and Vincent Geloso Conclusion: Steve Horwitz (1964–2021): teacher, scholar, and public intellectual 165 Peter J. Boettke Index

Read more less

Book SynopsisWith the radical growth in the ubiquity of digital platforms, the sharing economy is here to stay. This Handbook explores the nature and direction of the sharing economy, interrogating its key dynamics and evolution over the past decade and critiquing its effect on society. Using an interdisciplinary perspective, this Handbook analyses labour, governance, trust and consumption in the contemporary sharing economy. It questions the apparent contradiction between its components: the moral economy of small-scale communal sharing versus the far-flung reaches of the market economy. Chapters explore ways to resolve this paradox, theorizing hybrid economic forms and considering the replacement of human trust inherent in the sharing economy with a transactional reputation economy. Featuring a variety of both conceptual explorations and empirical investigations in a variety of different cross-cultural contexts, this Handbook illustrates how and, more importantly, why the sharing economy has reshaped marketplaces, and will continue to disrupt them as it develops. Written in an accessible style, this thorough Handbook offers crucial insights for researchers across a variety of disciplines interested in the trajectories of modern consumption, as well as students studying the sharing economy. Practitioners, policy makers and public speakers working in and around the sharing economy will also benefit from this book's unique analysis of trends in consumer economics. Contributors include: A. Arvidsson, G. Avram, F. Bardhi, H. Bartling, M. Baz Radwan, R. Belk, H.H. Chang, A. Chattopadhyay, R. Corten, D. Dalli, A. DeCrop, N. Drozdova, G. Eckhardt, T. Eriksson, E. Fischer, F. Fortezza, A. Gandini, A. Gessinger, A. Graul, A. Gruen, A.J. Hawley, I. Kleppe, S. Kurtmollaiev, M. Laamanen, C. Laurell, C.X. Li, A. Light, R.J. Lutz, J. Mallargé, K. Mikolajewska-Zaj c, L. Mimoun, M. Möhlmann, O. Mont, J. Morales, A. Mukherjee, C. Oberg, L.K. Ozanne, E. Papaoikonomou, G. Patsiaouras, C. Pitt, K. Plangger, M. Rocas-Royo, A. Ryan, C. Sandstrom, M. Saren, K. Strzyczkowski, W. Suetzl, T. Teubner, C. Valor, P. van den Bussche, G. von Richthofen, Y. Voytenko Palgen, S. Wahlen, T. Widlok, P. Zidda, L. Zvolska Trade Review'This Handbook offers wide-ranging investigations and essays into the sharing economy. It takes the reader through a deep and critical look at this new way of organizing markets and society. While exposing the promise, practices, and paradoxes of these systems, the authors succeed in inspiring us to think how these platforms are changing how we consume, sell, and think about and care for the world. It offers fresh insights that I expect to influence my research and teaching in important ways for a long time.' --Christine Moorman, Duke University, US and Editor in Chief, Journal of Marketing'The sharing economy is fundamentally altering firms and markets, yet key questions about the future of the economy and society remain unanswered. Belk, Eckhardt and Bardhi provide a sweeping view of emerging thinking, spanning topics from blockchain and big data to rhetoric and risk. A must-read for any serious scholar.' --Arun Sundararajan, New York University, US and author of The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism'This is a must-read collection for anyone seeking a deeper appreciation of the sharing economy and why and how it works. Twenty-eight chapters explore the paradoxes between the moral economy of ''sharing'' the market economy of ''commerce,'' and the reputation economy on which everything is based. If you want a greater sense of the benefits and dilemmas of the sharing economy read this book.' --Susan Fournier, Boston University, USTable of ContentsContents: The paradox of the sharing economy, Introductory chapter Russell Belk, Giana Eckhardt and Fleura Bardhi The Nature of Sharing and the Sharing Economy 1. Situating the Sharing Economy: Between Markets, Commons and Capital Adam Arvidsson 2. Sharing as an Alternative Economy Activity Thomas Widlok 3. The who and what of sharing: A phenomenological view Wolfgang Suetzl 4. The Sharing Economy and Lifestyle Movements Mikko Laamanen and Stefan Wahlen Ownership, Access, and Collaborative Modalities 5. To Own or to Access: An Exploration of Sharing and Access Practices by Arab Millennials Maha Baz Radwan, Georgios Patsiaouras and Michael Saren 6 Object History Value in the Sharing Economy Claris X. Li and Richard J. Lutz 7. Guest, friend or colleague? Unpacking relationship norms in collaborative workplaces Adèle Gruen and Laetitia Mimoun 8. Designing the Economics of the Sharing Economy: Towards Sustainable Management Ann Light Exchange Practices in the Sharing Economy 9. The New Face of Bartering in Collaborative Networks: The Case of Italy’s Most Popular Bartering Website Daniele Dalli and Fulvio Fortezza 10. Sharing Economy to the Rescue? The Case of Timebanking Carmen Valor and Elani Papaoikonomou 11. Crowdfunding: Sharing the Entrepreneurial Journey Anirban Mukherjee, Hannah H. Chang, and Amitava Chattopadhyay 12. Crowdfunding the development of new products and services Natalia Drozdova, Seidali Kurtmollaiev and Ingeborg Kleppe Hybridity, Institutional Logics and Institutional Theory 13. Tracking the institutional logics of the sharing economy Andrea Gessinger, Christopher Laurell, Christina Oberg and Christian Sandstrom 14. Airbnb and Hybridized Logics of Commerce and Hospitality Georg von Richthofen and Eileen Fischer 15. The Hybrid Nature on Online Facilitated Offline Sharing Konstanty Strzyczkowski 16. Decentralization as a new framework for the sharing economy Marc Rocas-Royo Legal, Regulatory, and Public Policy Considerations 17. Urban Mobilities and Local Regulation: Transportation Challenges and Promise of the Sharing Economy Hugh Bartling 18. Should Europe Regulate Labour Platforms in the Sharing Economy? Adrian J. Hawley 19. Creating value to mitigate disaster harm: How the sharing economy can support consumers and policy makers Lucie K. Ozanne 20. How Sharing Economy Organizations and City Governments Engage in Institutional Work and How This Shapes Sustainability Oksana Mont, Yulia Voytenko Palgen, and Lucie Zvolska Trust, Satisfaction, and Reputation in the sharing economy 21. Social Dilemmas in the Sharing Economy Rense Corten 22. Leveraging trust on sharing economy platforms: Reputation systems, blockchain technology and cryptocurrencies Mareike Möhlmann, Timm Teubner, and Antje Graul 23. Revisiting Satisfaction with Collaborative Exchanges in the Sharing Economy Jérôme Mallargé, Alain DeCrop, and Pietro, Zidda 24. Customer goodwill: How perceived competence and rapport influence eWOM’s diagnosticity of Peer-to-Peer and Professional Access-Based Services Christine Pitt, Theresa Eriksson, and Kirk Plangger Critical Perspectives on the Sharing Economy 25. Constructing the Collaborative Consumer: The Role of Digital Platforms Annmarie Ryan and Gabriela Avram 26. Performing (in) the community: Accounting, biopower and the sharing economy Penelope van den Bussche and Jeremy Morales 27. The Rhetoric of Sharing: Managerial Literature on the Sharing Economy Karolina Mikołajewska-Zając 28. Reputation: the ‘fictitious commodity’ of the sharing economy? Alessandro Gandini Index

Read more less

Book SynopsisFor most economists, 'Austrian economics' refers to a distinct school of thought, originating with Mises and Hayek and characterised by a strong commitment to free-market liberalism. This innovative book explores an alternative Austrian tradition in economics. Socialist in spirit but too diffuse to be described as a single school of thought, it shares a common conviction that the market, while possibly a good servant, is a very poor master. Demonstrating how the debate on the economics of socialism began in Austria long before the 1930s, this unique book analyses the work and impact of many leading Austrian economists. Beginning with the Austro-Marxist theorists Otto Bauer and Rudolf Hilferding and moving through to the new generation of social democratic economists, most prominently Kurt Rothschild and Josef Steindl, The Alternative Austrian Economics provides insight into the history and evolution of socialist economics in Austria. Offering a previously underrepresented discussion of a century of Austrian socialist economics, this engaging book will prove to be of great value to Marxian and heterodox economists, historians of economic thought and political scientists interested in political economy.Trade Review'Economists associate the Austrian school with the free market classical liberal ideas of Ludwig von Mises and Friedrich Hayek, Professor King describes the ideas of another group of Austrian economists: Marxists who were active in Vienna in the early twentieth century, and later Austro-Marxists who built on their work. King's book is a delightful description of this intellectual community, and explains how their work was designed to be an extension and updating of Marx's ideas.' --Randall G. Holcombe, Florida State University, USTable of ContentsContents: 1. Introduction 2. ‘Red Vienna’ and the Roots of Austro-Marxism 3. The Young Rudolf Hilferding 4. Otto Bauer 1904-1914 5. The Economics of Socialism 6. Otto Bauer 1917-1938 7. Other Voices 8. The Heirs. I: Josef Steindl 9. The Heirs. II: Kurt Rothschild 10. What is Left Bibliography Index

Read more less

Book SynopsisAuthoritarian capitalism is rapidly evolving, intensifying and spreading across the globe. This updated second edition book demonstrates that the recent resurgence of fascism and repressive democracies are connected to and symptomatic of the fundamental authoritarianism of capitalism.Analysing how marketization is promoting political authoritarianism across the world, Peter Bloom tells a story of authoritarian progress in which capitalist sovereignty is replacing liberal and social democracy. In doing so, Bloom rethinks the structural and discursive role of sovereign power within capitalism, illustrating how the free market relies upon a range of authoritarian political fantasies not just for its growth but for its very survival. This fully updated edition reveals how this had led to an evolution from corporate globalization to a new era of ‘popular authoritarianism’, based on the political competition between far-Right ethno-capitalism and politically repressive capitalist democracy. Exploring new perspectives such as "the commons" and "degrowth development", it points to new possibilities for resisting authoritarian capitalism and reinvigorating democracy.The unique insights in this book will prove invaluable for students and scholars of political science, economics, development and organization studies, international relations and sociology. It will also be of interest to practitioners concerned with globalization, political authoritarianism, and the expansion of the free market.Trade Review‘This insightful book addresses a burning question: the relationship between capitalism and democracy in our crisis-ridden world. Bloom elegantly shows that the spread of capitalism worldwide has driven political systems towards increasingly authoritarian forms – and what we can do to reverse course, and build more tolerant and democratic societies. An essential read for troubled times.’ -- Alfredo Saad Filho, King’s College London, UKTable of ContentsContents: Preface to the Second Edition 1. The rise of authoritarian capitalism in the twenty-first century 2. Fantasizing authoritarian capitalism: a brief history 3. Globalization and the desire for authoritarianism 4. The market despots: the global capitalist fantasy of authoritarian nationalism 5. Developing authoritarian capitalism: the global capitalist fantasy of authoritarian modernization 6. The tyranny of (neo)liberal democracy: a global capitalist fantasy of authoritarian freedom 7. A responsible global hegemony: the capitalist fantasy of authoritarian “good governance” 8. Fighting for oppression: the battle between popular authoritarianism and repressive democracy 9. Conclusion: breaking free from authoritarian capitalism References Index

Read more less

Book SynopsisFew international organizations embody the idea of historical progress as strongly as the European Union (EU). This book addresses the main shortcoming of treating EU as a vehicle of progress and political unity between European countries: the disregard of such an approach for the underlying diversity of the European continent.Critically examining the meta-ideology underpinning European integration, the author studies the implications of Europe’s heterogeneity, disagreements over European policies, and of pluralism of values for the EU’s governance. The book revisits legacies of post-communist transitions and the role played by international economic and political integration in Eastern Europe – as well as the implications of the EU’s enlargements for the EU’s governance. The result is a novel, polycentric perspective on the EU’s governance.Policy practitioners, commentators, and other opinion leaders as well as academics and students interested in applied political economy and European studies will value this extensive exploration of Governing the EU in an Age of Division.Trade Review‘I highly recommend this book to anyone interested in the fate of the European Union or generally how to govern in an age of division. Dalibor Rohac reminds us that the sovereign borders across Europe may be faint, but they are still very real. Ignore them at your peril. He also reminds us that the original plan for the EU—a single market cooperating on foreign defense policy and trade—was a good one. The EU should stick with the original plan. Some of his messages are subtle and yet also extraordinarily important in today’s age of division. The book crystallizes the challenges in governing the EU. Given Russia’s invasion of Ukraine, geopolitical tensions in the Taiwan Strait, global trade tensions and the weakening of our international institutions, this book is more important than ever. To survive this age of division, leaders across the EU may have to readjust their expectations for their great union, or else risk losing it.’ -- Christine McDaniel, Discourse Magazine‘Books about the European Union tend to be dry and academic. In this bracing addition to the literature, Dalibor Rohac breaks the mold. Neither an uncritical cheerleader of the EU nor a knee-jerk critic, he provides a rigorous examination of its short-comings and a measured appraisal of its successes. With engaging prose that manages both to inform and entertain, Rohac explains why everyone concerned about the fate of liberal democracy should care about the future of this much-maligned institution.’ -- James Kirchick, author, The End of Europe: Dictators, Demagogues, and the Coming Dark Age‘For too long, the European debate has been dominated by a conflict between centralisers and nationalists. They are seen as opposites, but share a neglect of Europe’s real strength – its openness and pluralism. Dalibor Rohac’s new book offers a sensible and desirable alternative, which makes it a necessary read for everyone interested in a liberal international order.’ -- Johan Norberg, Cato Institute, Washington D.C., US‘Dalibor Rohac isn't all misty-eyed when people talk about the European Union. Nor is he scornful, though, of the EU's real accomplishments and possibilities. This is a rare, hard-headed, and balanced look at an important part of the current geopolitical landscape. Read and learn.’ -- William Kristol, The Bulwark‘Dalibor Rohac‘s new book on Europe and the future of the European Union is elegant in style and thought-provoking in substance. Amidst Russia’s war on Ukraine and challenge to the European security order, Rohac asks penetrating and important questions about Europe’s political personality. With a robust defence of the West and constitutional liberalism, Rohac argues for European pluralism – a James Madison-style approach to European cooperation and power. It should be read by both scholars and political leaders!’ -- Fredrik Erixon, European Centre for International Political Economy (ECIPE), Brussels‘Dalibor Rohac takes a close look here at the European Union. Unlike most conservative scholars who question the usefulness of multilateral institutions, he offers a very well-documented perspective on why the EU is here to stay – despite deep divisions among its members, despite frequent bureaucratic stalemate, and despite a nationalist momentum exemplified by Brexit. This is a book that should be read widely by policymakers and college students alike. For students, the extensive footnotes alone offer important guidance to the EU's often obscure decision-making processes and policies.’ -- – Charles Gati, Johns Hopkins University, US‘Dalibor presents a future vision of the EU which does not go as far as the United States of Europe or Federal Republic of Europe that many EUphiles wish to see. Instead, he calls for a more flexible arrangement recognising both the strength of the pluralism of Europe and the common interests of member states. This book deserves to be read by those who take an interest in EU affairs whether a believer in the project of political integration or a sceptic.’ -- Lord Syed Kamall, St Mary’s University, Twickenham, UKTable of ContentsContents: Preface 1. A glass half full or half empty? 2. The light that did not fail 3. The enlargement hangovers 4. What is European integration for? 5. Out of the Euro trap 6. Shared challenges, divergent interests, decentralized solutions 7. The superpower that wasn’t References Index

Read more less

Book SynopsisThe centerpiece of Volume 40B of Research in the History of Economic Thought and Methodology is a symposium on the work of William Baumol, edited by Erwin Dekker. The symposium includes contributions from Alex Tabarrok, Jochen Hartwig and Hagen M. Krämer, Alexandre Chirat, Victor A. Beker, Caroline Colton, Magnus Henrekson and Mikael Stenkula, and Anna Noci. Volume 40B also features new general-research essays from Juan Pablo Castilla and Fabrizio Bientinesi.Table of ContentsPART I: A Symposium on the Work of William J. Baumol: Heterodox Inspirations and Neoclassical Models; Erwin Dekker Chapter 1. Introduction - The Work of William J. Baumol: Heterodox Inspirations and Neoclassical Models; Erwin Dekker Chapter 2. William Baumol and the Cost Disease; Alex Tabarrok Chapter 3. Baumol’s Cost Disease in Times of Rising Income Inequality; Jochen Hartwig and Hagen M. Krämer Chapter 4. The Correspondence between Baumol and Galbraith (1957–1958): An Unsuspected Source of Managerial Theories of the Firm; Alexandre Chirat Chapter 5. Baumol´s Contribution to Telecommunications Regulation; Victor A. Beker Chapter 6. William Baumol and Contestability: From AT&T to Platforms; Caroline Colton Chapter 7. William J. Baumol: Innovative Contributor to Entrepreneurship Economics; Magnus Henrekson and Mikael Stenkula Chapter 8. So, What did Marx ‘Really’ mean? The Methodenstreit between Baumol and Samuelson on the History of Economic Thought; Anna Noci PART II: Essays Chapter 9. To Kill a Black Swan: The Credibility Revolution at Cede, 2000-2018; Juan Pablo Castilla Chapter 10. A Bias for Bias? The Impact of “Authoritarian” Politics as shown by Italian International Trade Debate Experience, 1913-1942; Fabrizio Bientinesi

Read more less

Book SynopsisThe Encyclopedia of the Social and Solidarity Economy is a comprehensive reference text that explores how the social and solidarity economy (SSE) plays a significant role in creating and developing economic activities in alternative ways. In contrast to processes involving commodification, commercialisation, bureaucratisation and corporatisation, the SSE reasserts the place of ethics, social well-being and democratic decision-making in economic activities and governance. Identifying and analysing a myriad of issues and topics associated with the SSE, the Encyclopedia broadens the knowledge base of diverse actors of the SSE, including practitioners, activists and policymakers.Analysing the role of SSE organisations and enterprises in enhancing wellbeing, planetary health and democracy at various levels and their contribution to achieving the Sustainable Development Goals, the Encyclopedia invaluably summarises knowledge about the key aspects of the SSE. Accomplished researchers depart from traditional nationalistic, Eurocentric and trans-Atlantic perspectives to explain the SSE from a global perspective with a focus on untold stories of its development in both developing and developed countries.A collective work of the UN Inter-Agency Task Force on SSE (UNTFSSE), this Encyclopedia will serve as an essential tool for scholars and students of comparative social policy, international economics, management studies and economic sociology.Key Features: 57 entries Clearly organised into thematic sections addressing histories, concepts and theories, actors and organisations, development, and environment and governance Breaks down the complex relationship between economic, social and political dimensions in an accessible way Trade Review‘A comprehensive overview that clearly demonstrates the significant contribution of the Social and Solidarity Economy in addressing the leading issues of our time, including globalization, social justice and inequalities. This is an important resource for researchers, policymakers and other stakeholders which can be leveraged for promoting inclusive and sustainable development.’ -- Li Junhua, Under-Secretary-General for Economic and Social Affairs, United Nations‘A product of the UN Inter-Agency Task Force on Social and Solidarity Economy (UNTFSSE) Knowledge Hub, the Encyclopaedia of the Social and Solidarity Economy is a welcome contribution to our stock of knowledge on the topic. I applaud our colleagues in the United Nations Research Institute on Social Development (UNRISD), a co-founder and member of the UNTFSSE, for putting this comprehensive reference text together. It will be a useful resource as the International Labour Organization and its constituents seek to implement the conclusions on decent work and the social and solidarity economy, adopted at the 110th International Labour Conference in June 2022.’ -- Guy Ryder, Director-General, International Labour Oganization‘This magnificent work captures the rich diversity of experiences, backgrounds and visions of those of us who work in people-centered economics. It is, therefore, an essential tool for consolidating a paradigm of international cooperation that makes an effective impact in each territory.’ -- Ariel E. Guarco, President of the International Cooperative Alliance, BelgiumTable of ContentsContents: Preface xviii PART I HISTORIES, CONCEPTS AND THEORIES 1 Activism and social movements 2 Hamish Jenkins and Yvon Poirier 2 Community economies 12 Stephen Healy, Ana Inés Heras and Peter North 3 Contemporary understandings 19 Peter Utting 4 Ecological economics 27 Dražen Šimleša 5 Feminist economics 37 Suzanne Bergeron 6 Globalization and alter-globalization 44 Carmen Marcuello, Anjel Errasti and Ignacio Bretos 7 Heterodox economics 53 Jean-Louis Laville 8 Indigenous economies 61 Luciane Lucas dos Santos 9 Moral economy and human economy 68 Jean-Louis Laville 10 Origins and histories 73 Jean-Louis Laville 11 Postcolonial theories 83 Luciane Lucas dos Santos 12 The Black social economy 92 Sharon D. Wright Austin 13 The commons 97 Anabel Rieiro PART II ACTORS AND ORGANIZATIONS 14 African American and distributive justice 106 Jessica Gordon-Nembhard and Ajowa Nzinga Ifateyo 15 Associations and associationalism 114 Bruno Frère and Laurent Gardin 16 Community-based organizations 122 Kiran Kamal Prasad 17 Cooperatives and mutuals 132 Chiyoge B. Sifa and Caroline Shenaz Hossein 18 LGBT inclusion 139 Vincenza Priola and Saoirse C. O’Shea 19 Migrants and refugees 148 Giulia Galera and Leila Giannetto 20 Activism and social movements 156 Edith Archambault 21 Social enterprises 164 Jacques Defourny and Marthe Nyssens 22 Women’s self-help groups 173 Christabell P.J. 23 Youth 181 Davorka Vidović PART III LINKAGES TO DEVELOPMENT 24 Care and home support services 188 Christian Jetté, Yves Vaillancourt and Catherine Lenzi 25 Culture, sports and leisure sectors 195 Nadine Richez-Battesti and Francesca Petrella 26 Education sector 201 Christina A. Clamp and Colleen E. Tapley 27 Energy, water and waste management sectors 210 Waltteri Katajamäki 28 Finance sector 217 Riccardo Bodini and Gianluca Salvatori 29 Food and agriculture sector 225 Judith Hitchman 30 Gender equality and empowerment 232 Bipasha Baruah 31 Health and care sector 241 Jean-Pierre Girard 32 Housing sector 249 Alice Pittini 33 Information and communication technology (ICT) 256 Raymond Saner, Lichia Saner-Yiu and Samuel Bruelisauer 34 Local community development 265 Luis Razeto Migliaro 35 Peace and non-violence 273 Smita Ramnarain 36 Reduction of hunger and poverty 282 Judith Hitchman 37 Reduction of multidimensional inequalities 288 Andrea Salustri 38 Social services 296 Susanne Elsen 39 Sustainable investment, production and consumption 304 Cynthia Giagnocavo 40 The Sustainable Development Goals 311 Denison Jayasooria and Ilcheong Yi 41 Tourism sector 322 Gilles Caire 42 Work integration 330 Kate Cooney, Marthe Nyssens and Mary O’Shaughnessy PART IV ENABLING ENVIRONMENT AND GOVERNANCE 43 Access to markets 339 Darryl Reed 44 Co-optation, isomorphism and instrumentalisation 349 Nadine Richez-Battesti and Francesca Petrella 45 Financing 357 Gianluca Salvatori and Riccardo Bodini 46 Legal frameworks and laws 366 David Hiez 47 Local and territorial development plans 373 Hamish Jenkins 48 Management 383 Sang-Youn Lee 49 Participation, governance, collective action and democracy 389 Jeová Torres Silva Junior 50 Partnership and co-construction 395 Marguerite Mendell 51 Public policy 401 Peter Utting 52 Resilience in the context of multiple crises 410 Beverley Mullings and Tinyan Otuomagie 53 Social policy 417 Ilcheong Yi 54 Statistical measurement 426 Marie J. Bouchard 55 Supporting organizations and intermediaries 435 Hamish Jenkins 56 The institutional ecosystem 445 Jean-Marc Fontan and Benoît Lévesque 57 Working conditions and wages 454 Kunle Akingbola and Carol Brunt Index 464

Read more less

Book SynopsisIn this innovative book, S. Niggol Seo investigates the intrinsic and intriguing relationship between the fundamental teachings of Buddhism and the principles of economics and happiness. Offering a unique perspective on the topic, Seo delves deep into the theoretical foundations of economics and Buddhist teachings, highlighting how these seemingly polar opposite thought systems cross paths.Seo argues that when it comes to markets, prices, interest rates, growth, poverty, and environmental protection, Buddhism and economics share a number of common economic ideas. Written in an accessible style, Seo presents both a succinct and encompassing description of Buddhism for economists, as well as a comprehensive overview of economics. Buddha, Wisdom and Economics brings together in a balanced and systematic way the common ground between both endeavours. It further examines important topics in the field in light of Buddhist teachings, including economic growth and happiness, poverty and environmental protection.This thought-provoking book will be an invigorating read for undergraduate and postgraduate economics students and to those with a particular interest in development economics, religion, welfare and happiness studies. It also offers ground-breaking insights for economic policy-makers looking to better understand the intersection between Buddhism and economics.Trade Review‘Buddha, Wisdom and Economics: A Contribution to the Art of Happiness by S. Niggol Seo is a complicated and thoughtful treatise of two facets of the author's life. The first has been spent reading and absorbing the thoughts of the three Buddhas. The second has been a long professional education understanding economics and applying that understanding specifically to environmental economics. The aim of the book is to present a deeper understanding of Buddhism to economists and an introduction of economics to Buddhists.' -- Robert Mendelsohn, Yale University, USTable of ContentsContents: Preface viii About the Author 1 Introduction to Buddha, Wisdom and Economics 2 Buddha: a concise introduction with life stories for this audience 3 Perfection of wisdom: a concise introduction for this audience 4 Market: the foundation of economics 5 The value of something: material value versus inner value 6 Capital and interest rate: no possessions or earn profits? 7 Economic growth: happiness versus growth 8 Poverty: all people being equal versus getting people out of poverty 9 Environmental protection: protect all versus protect wisely 10 Personal reflections on bodhisattva deeds in the “reality” of the market Bibliography of the Sutras Cited Index

Read more less

Book SynopsisResearch in the History of Economic Thought and Methodology (RHETM) is a book series dedicated to an interdisciplinary approach to a broad range of topics related to the history and methodology of economics.Table of ContentsPART I. A Symposium on John Kennethj Galbraith: Economic Structures and Policies for the Twenty-First Century Chapter 1. Introduction; Richard P. F. Holt Chapter 2. Galbraith and Economic Power; Steven Pressman Chapter 3. Consumer Sovereignty in the Digital Society; Alexandre Chirat Chapter 4. John Kenneth Galbraith’s Social Balancing Theory in the 21st Century; Eric Scorsone Chapter 5. John Kenneth Galbraith on the Military Industrial Complex; Adem Yavuz Elveren Chapter 6. The Social Consequences of Inflation and Unemployment and their Remedies; Alexandre Chirat, Basile Clerc, and Richard P. F. Holt PART II. Essays Chapter 7. Pareto efficiency from Lausanne to the United States: the role of Maurice Allais; Irène Berthonnet Chapter 8. From Regulation to Deregulation and (Perhaps) Back: A Peculiar Continuity in the Analytical Framework; William McColloch and Matías Vernengo

Read more less

Book SynopsisAs businesses, consumers, and investors make key financial decisions amid Economic Policy Uncertainty (EPU), there is the danger that many might freeze investment projects and hiring, leading to contractions of the economy. These are evident in the Indian economy as a whole and specifically in Indian stock markets indices such as the BSE Sensex and Nifty 50, import and export figures, T-bills, FDI, FPI, and GDP. In this important and timely work, Ghosh and Bagchi examine variables and phenomenon from April 2003 to January 2022, encompassing: • The global financial recession period (December 2007 to June 2009) • The pre-recession period (April 2003 to November 2007) • The post-recession along with pre-COVID-19 period (July 2009 to February 2020) • The COVID-19 period (March 2020 to January 2022) • The Russia-Ukraine Conflict Period (September 2021 to July 2022) This is essential reading for scholars and practitioners dealing with Economic Policy Uncertainty (EPU) in the Indian context, and in macro-economics at large.Table of ContentsChapter 1. Introduction Chapter 2. Economic Policy Uncertainty (EPU) in the Indian Context Chapter 3. Macro-Economic Indicators and Indian Stock Markets: An Overview Chapter 4. Effects of Economic Policy Uncertainty on Indian Economy and Stock Markets in Times of Covid-19 crisis Chapter 5. Impact of the Russia-Ukraine Conflict on the Indian Economy Chapter 6. Empirical Data Analysis and Findings of the Study Chapter 7. Conclusions and Recommendations

Read more less

Book SynopsisResearch in the History of Economic Thought and Methodology (RHETM) is a book series dedicated to an interdisciplinary approach to a broad range of topics related to the history and methodology of economics.Table of ContentsPART I. A Symposium on Hazel Kyrk's A Theory of Consumption 100 Years after Publication Chapter 1. Introduction; Rebeca Gomez Betancourt Chapter 2. Hazel Kyrk’s intellectual roots: When First-Generation Home Economists Met the Institutionalist Framework; David Philippy, Rebeca Gomez Betancourt, and Robert W. Dimand Chapter 3. Hazel Kyrk’s A Theory of Consumption, Veblen’s Business and Industrial Concerns, and W.C. Mitchell’s Essays on Spending and Money: Conceptual Links; Zdravka Todorova Chapter 4. Hazel Kyrk and her Research on Standards of Consumption; Edith Kuiper Chapter 5. Hazel Kyrk, the Economics of the Social Relevance of Consumption and John Maynard Keynes’ Consumption Function; Atilio Trezzini Chapter 6. What should families want? From Hazel Kyrk to Margaret Reid and beyond; Miriam Bankovsky PART II. Essays Chapter 7. On the Integration of Institutional Themes and Neoclassical Formalism: Locational Economics as a Case Study in Pragmatic Empiricism; Yue Xiao and Joseph Persky Chapter 8. Nutter and Buchanan did not turn against tuition grants for segregated schools in 1965: A comment on Fleury (2023) and Levy and Peart (2023); Daniel Kuehn Chapter 9. Response to Kuehn: Buchanan on the rules for public school funding: Additional thoughts; David Levy and Sandra Peart

Read more less

Book SynopsisVolume 41A of Research in the History of Economic Thought and Methodology features a symposium on “Religion, the Scottish Enlightenment, and the Rise of Liberalism,” a new research essay by Syed Mohib Ali, and a roundtable on the institutionalist economics of Geoffrey Hodgson.Table of ContentsPART I: A Symposium on Religion, the Scottish Enlightenment, and the Rise of Liberalism; Jordan J. Ballor and Erik W. Matson Chapter 1. Introduction to the Symposium: Religion, the Scottish Enlightenment, and the Rise of Liberalism; Jordan J. Ballor and Erik W. Matson Chapter 2. Believing, Belonging and Understanding: Religion and Philosophy as Narratives and Practice in Adam Smith; Jimena Hurtado Chapter 3. Adam Smith and Religious Mercantilism; Maria Pia Paganelli Chapter 4. The Quest for Adam Smith’s Theodicy; Paul Oslington Chapter 5. The Circumstantiality of Bivariate Relationships in The Theory of Moral Sentiments; Daniel B. Klein Chapter 6. The Anthropology of Liberalism: Smith and Us; Christina McRorie Chapter 7. Opposing Sketches of the Clergy as Literati during the Scottish Enlightenment: Hugh Blair and John Witherspoon; Paul D. Mueller PART II: Essay Chapter 8. Description as Theory: Sen and Sraffa; Syed Mohib Ali PART III: Roundtable on Geoffrey Hodgson's "Discovering Institutionalism: One Person's Journey" Chapter 9. Discovering Institutionalism: One Person’s Journey; Geoffrey Hodgson Chapter 10. Geoffrey Hodgson’s Institutional Economics: Veblenian Origins and Beyond; Felipe Almeida Chapter 11. Can Institutional Economics Still Fascinate Scholars?; Angela Ambrosino Chapter 12. Why is Geoffrey Hodgson So Important for Institutional and Evolutionary Economics? Some Personal Views; Olivier Brette Chapter 13. Geoffrey Hodgson: An Institutionalist's Institutionalist; Daniel H. Cole Chapter 14. Comment on “Discovering Institutionalism: One Person’s Journey” by Geoff Hodgson; Richard N. Langlois Chapter 15. Learning Economics. Discovering Geoff Hodgson; Alain Marciano Chapter 16. The Three Scientific Faults in Some Neo-Institutionalism; Deirdre McCloskey Chapter 17. The Institutional Economics of Geoffrey Hodgson: Some Distinctive Foundations; David Duquech

Read more less

Book SynopsisThis timely Research Agenda examines the ways in which public–private partnerships (PPPs) in infrastructure continue to excite policy makers, governments, research scholars and critics around the world. It analyzes the PPP research journey to date and articulates the lessons learned as a result of the increasing interest in improving infrastructure governance. Expert international contributors explore how PPP ideas have spread, transferred and transformed, causing supporting markets to develop and mature.Providing a multidisciplinary perspective on the topic, this thought-provoking Research Agenda proposes a range of future research directions, pointing towards the potential of fresh research approaches to PPP, the adoption of new theories and intellectual lenses, better balancing of public–private interests, and stronger public governance across what has now become a global phenomenon. It lights the way to diverse research frontiers ranging from financialization to psychology and behavioural science, as well as the continuing prominence of public administration, politics, economics, planning and law.A Research Agenda for Public–Private Partnerships and the Governance of Infrastructure will be an enticing read for students and scholars of regulation and governance, public management and administration, politics and economics as well as industry professionals across the domains of public policy, infrastructure and city planning.Trade Review‘Public–private partnerships have been a major development in public sector reform around the world in recent decades – but their role remains hotly contested. In this book, Carsten Greve and Graeme Hodge, as major contributors to the field, bring together leading scholars to provide an in-depth survey of current research into PPPs and key avenues for future research. With its outstanding analytical depth and comprehensive range of topics, it offers an indispensable guide for both researchers and government policymakers.’ -- Tony Bovaird, University of Birmingham, UK‘The world of PPPs and infrastructure governance is perilously complex, but this must-read book is the key to unlock the evolution of and momentum behind the global research agenda. Reading the individual contributions, I felt thrilled, impressed and humbled. Thrilled about the quality and diversity of research from long-established and newer authors. Impressed by the combination of fine eyes for detail and the identification of overarching themes, all explained in reader-friendly language. Humbled by the multitude of research challenges that remain.’ -- Professor Emerita Pam Stapleton, The University of Manchester, UK‘This edited volume makes a major contribution to the literature on public–private partnerships (P3s). Utilizing both cross-national and interdisciplinary approaches, the book assesses the current state of P3 research and suggests new avenues for future enquiry.’ -- Lawrence Martin, University of Central Florida, US‘This volume is an invaluable resource for scholars interested in public–private partnerships in infrastructure. Drawing on a broad range of disciplinary perspectives, it explains what we have already learned about partnerships, and identifies the critical questions that remain to be answered. All of this is done in a crisp and accessible style.’ -- Alasdair Roberts, University of Massachusetts, Amherst, USTable of ContentsContents: Preface and acknowledgements xiii PART I INTRODUCTION 1 The PPP research terrain in a contested era 3 Carsten Greve and Graeme A. Hodge 2 Theories of public–private partnerships 35 Erik-Hans Klijn 3 The use of research methods in public–private partnership research 55 Rianne Warsen PART II NEW FRONTIERS IN A CONTESTED WORLD 4 Public–private partnerships in an economist’s eye: a gleam or a beam? 85 Dmitri Vinogradov and Elena Shadrina 5 New frontiers in the politics of public–private partnerships 105 Anthony M. Bertelli and Eleanor F. Woodhouse 6 Psychological and ontological research on PPPs: what is PPP doing to us? 117 Sophie Sturup 7 What can behavioural science teach us about the policy settings for privately financed public infrastructure? 131 Sebastian Zwalf 8 A public turn in the governance of infrastructure 151 Lene Tolstrup Christensen and Carsten Greve 9 New frontiers in planning: city building through public–private partnerships? 163 Matti Siemiatycki 10 New frontiers of PPP law 179 Christina Tvarnø and Sarah Maria Denta PART III CONTEMPORARY AND CONTINUING THEMES IN A CONTESTED WORLD 11 Financialization: the next stage in PPP development 205 Anne Stafford, Stewart Smyth and Marta Almeida 12 Great expectations for pension funds: a tale of two cities 229 Richard Foster and Graeme A. Hodge 13 The public–private partnership market maturity research frontier 261 Carter B. Casady 14 The determinants of PPP uptake in Europe: a mixed methods approach 277 Moritz Liebe 15 Institutional work in policy transfers: a case study of PPP adoption in Germany 305 Micaela Mihov 16 High speed, high cost: the problematic procurement of Ireland’s National Broadband Plan 331 Dónal Palcic and Eoin Reeves PART IV CONCLUSION 17 Common themes for a PPP research agenda 353 Graeme A. Hodge and Carsten Greve Index

Read more less

Book SynopsisOptions Markets presents an authoritative collection of the most important articles and papers on derivatives published during the last 35 years. These three volumes offer a unique and convenient resource for the reader to review the most important research at the frontier of this rapidly expanding area of financial economics. Topics include the theory, pricing and empirical evidence on equity derivatives, fixed-income derivatives, exotics, real options, numerical methods and risk management.As a comprehensive and integrated collection of articles, Options Markets is an invaluable companion to intermediate and advanced textbooks on derivatives. The historical perspective provided in this collection and the distinctiveness of its articles will appeal to both the applied and the theoretical researcher seeking fresh insights into derivatives.Table of ContentsContents: Volume I: Acknowledgements Introduction George M. Constantinides and A.G. Malliaris PART I THE CLASSICS 1. Louis Bachelier (1964), ‘Theory of Speculation’ 2. Paul A. Samuelson (1965), ‘Rational Theory of Warrant Pricing’ and ‘Appendix: A Free Boundary Problem for the Heat Equation Arising from a Problem of Mathematical Economics’ 3. Fischer Black and Myron Scholes (1973), ‘The Pricing of Options and Corporate Liabilities’ 4. Robert C. Merton (1973), ‘Theory of Rational Option Pricing’ PART II PEDAGOGIGAL REVIEWS 5. Clifford W. Smith, Jr. (1976), ‘Option Pricing: A Review’ 6. A.G. Malliaris (1983), ‘Itô’s Calculus in Financial Decision Making’ 7. Robert C. Merton (1998), ‘Applications of Option-Pricing Theory: Twenty-Five Years Later’ 8. Myron S. Scholes (1998), ‘Derivatives in a Dynamic Environment’ PART III THEORETICAL FOUNDATIONS AND RISK-NEUTRAL VALUATION 9. John C. Cox and Stephen A. Ross (1976), ‘The Valuation of Options for Alternative Stochastic Processes’ 10. Stephen A. Ross (1976), ‘Options and Efficiency’ 11. George M. Constantinides (1978), ‘Market Risk Adjustment in Project Valuation’ 12. J. Michael Harrison and David M. Kreps (1979), ‘Martingales and Arbitrage in Multiperiod Securities Markets’ 13. J. Michael Harrison and Stanley R. Pliska (1981), ‘Martingales and Stochastic Integrals in the Theory of Continuous Trading’ 14. Freddy Delbaen and Walter Schachermayer (1994), ‘A General Version of the Fundamental Theorem of Asset Pricing’ PART IV THE BINOMIAL TREE APPROACH 15. John C. Cox, Stephen A. Ross and Mark Rubinstein (1979), ‘Option Pricing: A Simplified Approach’ 16. Daniel B. Nelson and Krishna Ramaswamy (1990), ‘Simple Binomial Processes as Diffusion Approximations in Financial Models’ 17. Mark Rubinstein (1994), ‘Implied Binomial Trees’ PART V STOCHASTIC VOLATILITY MODELS 18. James B. Wiggins (1987), ‘Option Values Under Stochastic Volatility: Theory and Empirical Estimates’ 19. Steven L. Heston (1993), ‘A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options’ 20. Marc Romano and Nizar Touzi (1997), ‘Contingent Claims and Market Completeness in a Stochastic Volatility Model’ Name Index Volume II: Acknowledgements An introduction by the editors to all three volumes appears in volume I PART I OPTIONS ON FUTURES AND CURRENCIES 1. Fischer Black (1976), ‘The Pricing of Commodity Contracts’ 2. Mark B. Garman and Steven W. Kohlhagen (1983), ‘Foreign Currency Option Values’ PART II INTEREST-RATE DERIVATIVES 3. Oldrich Vasicek (1977), ‘An Equilibrium Characterization of the Term Structure’ 4. John C. Cox, Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1985), ‘A Theory of the Term Structure of Interest Rates’ 5. Darrell Duffie and Rui Kan (1996), ‘A Yield-Factor Model of Interest Rates’ 6. George M. Constantinides (1992), ‘A Theory of the Nominal Term Structure of Interest Rates’ 7. Farshid Jamshidian (1989), ‘An Exact Bond Option Formula’ 8. Thomas S.Y. Ho and Sang-Bin Lee (1986), ‘Term Structure Movements and Pricing Interest Rate Contingent Claims’ 9. Fischer Black, Emanuel Derman and William Toy (1990), ‘A One-Factor Model of Interest Rates and Its Application to Treasury Bond Options’ 10. John Hull and Alan White (1990), ‘Pricing Interest-Rate-Derivative Securities’ 11. David Heath, Robert Jarrow and Andrew Morton (1992), ‘Bond Pricing and the Term Structure of Interest Rates: A New Methodology for Contingent Claims Valuation’ 12. Kristian R. Miltersen, Klaus Sandmann and Dieter Sondermann (1997), ‘Closed Form Solutions for Term Structure Derivatives with Log-Normal Interest Rates’ PART III EXOTICS 13. William Margrabe (1978), ‘The Value of an Option to Exchange One Asset for Another’ 14. René M. Stulz (1982), ‘Options on the Minimum or the Maximum of Two Risky Assets: Analysis and Applications’ 15. Robert Geske (1979), ‘The Valuation of Compound Options’ 16. M. Barry Goldman, Howard B. Sosin and Mary Ann Gatto (1979), ‘Path Dependent Options: “Buy at the Low, Sell at the High”’ 17. Antoine Conze and Viswanathan (1991), ‘Path Dependent Options: The Case of Lookback Options’ 18. Hélyette Geman and Marc Yor (1996), ‘Pricing and Hedging Double-Barrier Options: A Probabilistic Approach’ PART IV REAL OPTIONS 19. Michael J. Brennan and Eduardo S. Schwartz (1985), ‘Evaluating Natural Resource Investments’ 20. James L. Paddock, Daniel R. Siegel and James L. Smith (1988), ‘Option Valuation of Claims on Real Assets: The Case of Offshore Petroleum Leases’ 21. Jonathan E. Ingersoll, Jr. and Stephen A. Ross (1992), ‘Waiting to Invest: Investment and Uncertainty’ 22. George M. Constantinides (1984), ‘Optimal Stock Trading with Personal Taxes: Implications for Prices and the Abnormal January Returns’ 23. Joseph T. Williams (1993), ‘Equilibrium and Options on Real Assets’ 24. Steven R. Grenadier (1996), ‘The Strategic Exercise of Options: Development Cascades and Overbuilding in Real Estate Markets’ PART V EMPIRICAL EVIDENCE 25. Mark Rubinstein (1985), ‘Nonparametric Tests of Alternative Option Pricing Models Using All Reported Trades and Quotes on the 30 Most Active CBOE Option Classes from August 23, 1976 through August 31, 1978’ 26. Gurdip Bakshi, Charles Cao and Zhiwu Chen (1997), ‘Empirical Performance of Alternative Option Pricing Models’ 27. Bernard Dumas, Jeff Fleming and Robert E. Whaley (1998), ‘Implied Volatility Functions: Empirical Tests’ 28. Yacine Aït-Sahalia and Andrew W. Lo (1998), ‘Nonparametric Estimation of State-Price Densities Implicit in Financial Asset Prices’ 29. Jeremy Stein (1989), ‘Overreactions in the Options Market’ Name Index Volume III: Acknowledgements An introduction by the editors to all three volumes appears in volume I PART I PRICING AMERICAN OPTIONS 1. Richard Roll (1977), ‘An Analytic Valuation Formula for Unprotected American Call Options on Stocks with Known Dividends’ 2. Robert Geske and H.E. Johnson (1984), ‘The American Put Option Valued Analytically’ 3. Giovanni Barone-Adesi and Robert E. Whaley (1987), ‘Efficient Analytic Approximation of American Option Values’ 4. A. Bensoussan (1984), ‘On the Theory of Option Pricing’ PART II NUMERICAL METHODS 5. Michael J. Brennan and Eduardo S. Schwartz (1978), ‘Finite Difference Methods and Jump Processes Arising in the Pricing of Contingent Claims: A Synthesis’ 6. Sanjiv Ranjan Das (1996), ‘Discrete-Time Bond and Option Pricing for Jump-Diffusion Processes’ 7. Phelim P. Boyle (1977), ‘Options: A Monte Carlo Approach’ 8. Phelim Boyle, Mark Broadie and Paul Glasserman (1997), ‘Monte Carlo Methods for Security Pricing’ 9. Phelim P. Boyle (1988), ‘A Lattice Framework for Option Pricing with Two State Variables’ 10. Mark Broadie and Paul Glasserman (1997), ‘Pricing American-style Securities Using Simulation’ PART III TRADING AND HEDGING WITH TRANSACTION COSTS 11. Phelim P. Boyle and David Emanuel (1980), ‘Discretely Adjusted Option Hedges’ 12. Stephen Figlewski (1989), ‘Options Arbitrage in Imperfect Markets’ 13. Hayne E. Leland (1985), ‘Option Pricing and Replication with Transactions Costs’ 14. Bernard Bensaid, Jean-Philippe Lesne, Henri Pagès and José Scheinkman (1992), ‘Derivative Asset Pricing with Transaction Costs’ 15. Mark H.A. Davis, Vassilios G. Panas and Thaleia Zariphopoulou (1993), ‘European Option Pricing with Transaction Costs’ 16. George M. Constantinides and Thaleia Zariphopoulou (1999), ‘Bounds on Prices of Contingent Claims in an Intertemporal Economy with Proportional Transaction Costs and General Preferences’ 17. Sanford J. Grossman (1988), ‘An Analysis of the Implications for Stock and Futures Price Volatility of Program Trading and Dynamic Hedging Strategies’ PART IV CREDIT RISK 18. Francis A. Longstaff and Eduardo S. Schwartz (1995), ‘A Simple Approach to Valuing Risky Fixed and Floating Rate Debt’ 19. Robert A. Jarrow and Stuart M. Turnbull (1995), ‘Pricing Derivatives on Financial Securities Subject to Credit Risk’ 20. Darrell Duffie and Kenneth J. Singleton (1997), ‘An Econometric Model of the Term Structure of Interest-Rate Swap Yields’ PART V VALUE AT RISK 21. Darrell Duffie and Jun Pan (1997), ‘An Overview of Value at Risk’ 22. Philippe Artzner, Freddy Delbaen, Jean-Marc Eber and David Heath (1999), ‘Coherent Measures of Risk’ Name Index

Read more less

Book SynopsisThe rapidly increasing importance of China, India, Indonesia, Japan, South Korea and Taiwan both in Asia and in the world economy, represents a trend that is set to continue into the 21st century.This book provides an authoritative assessment of the 20th century performance of these countries, and in particular the factors contributing to the acceleration of Asian growth in the latter part of the century. The contributors look at Asia within a global perspective and detailed comparisons are drawn with Australia and the USA. Contributions from leading experts offer a comprehensive review of the procedures necessary to establish valid international comparisons for countries with very different economic histories and levels of development. These include methods of growth performance measurement and techniques of growth accounting.The Asian Economies in the Twentieth Century will be an indispensable new tool for policy analysts, international agencies and academic researchers.Trade Review'. . . this book should be on the shelf of economists and economic historians interested in Asia.' -- J. Thomas Lindblad, Bulletin of Indonesian Economic Studies'. . . this is a valuable collection of papers, which students of long-term economic growth in Asia will certainly need to read and ponder. Sceptics of historical national accounting may not be completely won over, but they will be forced to acknowledge that we can learn much from careful quantitative studies of the kind presented here.' -- Anne Booth, The World Economy'It would be a useful addition to faculty libraries in social science and business faculties. . . A book with a strong focus like this one and a wide regional range makes it a strong candidate for library purchase.' -- Malcolm Warner, Asia Pacific Business ReviewTable of ContentsContents: 1. Introduction: Measuring Asian Performances 2. The International Comparison of Real Product and Productivity 3. International Comparison of Farm Sector Performance: Methodological Options and Empirics Findings for Asia-Pacific Economies, 1900–94 4. A Comparison of Real Output and Productivity Levels in Australian and United States Manufacturing, 1970–95 5. Industrial Output and Labour Productivity in China 1949–94: A Reassessment 6. Twentieth Century Economic Performance of India 7. Indonesia’s Growth Performance in the Twentieth Century 8. The Long-term Performance of the Japanese Economy 9. Realising Growth Potential: South Korea and Taiwan, 1960 to 1998 Index

Read more less

Book SynopsisThis insightful book focuses on the economic consequences of structural reform policies in the economies at the cutting edge of reform: Denmark, The Netherlands, New Zealand and Norway. The contributors examine policies aimed at improving the underlying path of growth, employment and saving-investment balances of the economy and apply state of the art methods to measure and model structural reforms. They examine the areas of competition policy, regulation of entry barriers, non-tariff trade barriers and employment protection rules as well as the quality of education and training, the efficiency of various public sector agencies and labour supply effects of care for children and the elderly. Special attention is paid to two 'success stories': New Zealand's 'Kiwi-model' and the Dutch 'Polder-model'. The book provides a welcome addition to the scarce evidence on both the costs and the benefits of structural reform and identifies the policy problems and the analytical issues at stake.This book will be indispensable to policymakers and academics with an interest in structural reform and macroeconomic policy.Table of ContentsContents: Preface 1. Structural Reform: The Issues Part I: Experiences with Structural Reform 2. Reform and Experience in New Zealand 3. The Policy Experience of Structural Reform in the Netherlands 4. Structural Reform in the Netherlands and New Zealand: Two Roads to Success? Part II: Modelling Structural Reform 5. Gains from Improved Sectoral Efficiency in Norway 6. A Dynamic CGE Analysis of the Danish 1993 Tax Reform Act Part III: Measuring Structural Reform 7. A Miracle or Not? Recent Trends in the Growth Performance of the Dutch Economy 8. Productivity, Wage Moderation, and Specificity in Factor Inputs Index

Read more less

Book SynopsisIn 1990 Mongolia, the second oldest communist state in the world, initiated a fundamental transformation of its economy and moved rapidly to a multi-party democracy. Unlike any other Asian economy it adopted the shock-therapy approach to transition. This book is the first attempt to provide a detailed examination of transition in Mongolia since 1990. It includes analyses of macroeconomic performance, the agriculture and industry sectors, the labour market and the emerging financial sector. It also focuses on poverty, gender, privatisation and the environment. The contributors to this volume argue that policymakers have exacerbated the painful transition process by underestimating its complexity and by pursuing inappropriate or, at best, overly optimistic policy reforms.Trade Review'This book offers an overview of Mongolia's transition during the 1990s from a centrally planned to a market-based economy. It is recommended to anyone interested in learning more about the process of economic transition in Mongolia and the structure and state of the Mongolian economy. It is appropriate for students with a basic understanding of economics from the undergraduate level on up, and provides valuable statistics and descriptive information for academics, government officials or anyone interested in understanding Mongolia's economy up to the late-1990s. It is an important addition to the literature because it is one of the only comprehensive sources for descriptions and data covering the major economic sectors in Mongolia.' -- Charles Krusekopf, Mongolian Studies'I am very glad to have this work on my bookshelf.' -- Judith Nordby, Sibirica'As the first full-length book treatment of the Mongolian economy since the abandonment of central planning, this is a welcome addition to the literature . . . this book is likely to become a standard reference on this crucial period in Mongolia's economic history. It contains a wealth of material, and the individual contributions are marked by common sense and reasonable balance. Anybody wanting an introduction to the Mongolian economy will find it here. . .' -- Richard R. Pomfret, Slavic Review'There are few subjects about which more pernicious nonsense is written than the problems of countries in transition from central planning to the market. The authors of this book have performed a double service to the reader. First, they have provided a sensible, balanced, and informative discussion of the problems of transition, as an antidote to free market fundamentalism. Second, they provide a thorough treatment of a country about which relatively little is written. The book can be read with profit by both the Asian specialist and someone interested in the problems of transition in general.' -- John Weeks, School of Oriental and African Studies, University of London, UKTable of ContentsContents: Preface Introduction 1. Transition and Development 2. Administrative Reform 3. Macroeconomic Policy and Performance 4. Money and Finance 5. The External Sector 6. Industry and Transport 7. Privatisation, Enterprise and Private Sector Development 8. Role of Livestock and Crop Economy in the Mongolian Economic Transition 9. Environmental Impacts of the Mongolian Economic Transition 10. Poverty in Mongolia 11. The Mongolian Labour Market in Transition 12. The Gender Dimension of Economic Transition in Mongolia Index

Read more less

Book SynopsisHow do young people survive in the era of high unemployment, persistent economic crises and poor living standards that characterise post-communist society in the former Soviet Union? This major original book - written by leading authorities in the field - shows how young people have managed to maintain optimism despite the very severe economic and social problems that beset the countries of the former Soviet Union.In most former Soviet countries the devastating initial shock of market reforms has been followed by precious little therapy. The effects have been most pronounced among young people as only a minority have prospered in the new market economies and inequalities have widened dramatically. Despite an all-round improvement in educational standards, most young people have been unable to obtain proper jobs. Housing and family transitions have been blocked. Uses of free time have shifted massively from the public into the private domain. Few young people have any confidence that their countries' political leaders will engineer solutions. Yet in spite of all this, the majority prefer the new uncertainties, and the merest prospect of the Western way of life, to the old guarantees. They are prepared to give the reforms more time to deliver, but this time is now fast running out.Surviving Post-communism will be an illuminating exposition of the realities of post-communist life for scholars of sociology and transition studies.Trade Review'Surviving Post-Communism provides a wealth of data about the economic and social factors that guide and describe young peoples' lives in politics in flux.' -- Fran Markowitz, Slavic Review'. . . an interesting book on young people in post-communist society in Ukraine, Armenia, and Georgia.' -- D.J. Dunn, ChoiceTable of ContentsContents: Preface 1. After Communism 2. Jobs and Career Routes 3. Education and Life Chances 4. Family Transitions and Gender Divisions 5. Leisure and Lifestyle 6. Politics 7. Precarious Transitions Bibliography Index

Read more less

Book SynopsisTen years after the collapse of communism in Poland, the debate continues over the impact of the transition to a market economy. Whilst few actually say the socialist system could - or should - have been preserved, the path of change has been far from smooth, and has produced both winners and losers in the race to reform.This book assesses the prevailing attitudes of both support and disenchantment among Poles towards transition, in the light of their own experiences. In particular Janice Bell uses statistical indicators on economic well-being, regional voting results and public opinion survey data to analyse the socio-economic influences on patterns of voting behaviour, and finds unemployment to be a crucial denominator.Groundbreaking in its perspective, this study will appeal to all those concerned with the social implications of reform programmes in former communist countries.Trade Review'The book presents us with a wide panorama of socioeconomic changes that have occurred in Poland since the 1989 turning point together with a penetrating insight into their causes and what impact they have had on political life . . . Bell's handling of statistical data and rich material she discovers make her analyses thorough, reliable, and accurate. It also should be noted that a great merit of the book is that the author does not limit herself to mere numbers. She makes attempts at interesting interpretations, so that the reader is not at a loss for an appropriate understanding of processes that are under way here. Bell knows that numbers only manifest some social forces but do not explain them. It is a sociologist's job to do that. And, in this respect, the book fits well into the list of studies that could be called guidelines into the period of transition.' -- Jan Klos, Journal of Markets & Morality'This book is a well-researched analysis of the political economy of postcommunist Poland, covering voting patterns from the presidential and parliamentary elections between 1990 and 1997. It relies on a sophisticated quantitative methodology that successfully combines a great deal of public opinion data and regression analysis of statistical data . . . an insightful and stimulating book that provides enriching reading on an important aspect of Poland's postcommunist experience.' -- Harald Wydra, Slavic Review'I learned more from this book about the impact of the economic and social costs of reforms on politics than from any other published either in English or Polish. It is an objective book, offering both empirical evidence and analysis. It should be recommended to anybody interested in the political economy of post-communist transition.' -- Tomasz Mickiewicz, University College London, UKTable of ContentsContents: Introduction: Assessing Poland’s Political and Economic Transition 1. Winners, Losers, and Why it Matters for Politics 2. Public Views on the Costs and Benefits of Transition 3. Income, Unemployment and Voting in Poland 4. Regions 5. Households During Transition 6. Winners, Losers and Party Preferences Appendices Bibliography Index

Read more less

Book SynopsisThis highly original new book examines the scientific status of economics from the perspective of practising economists. It studies how they evaluate their theories, the relationship between those theories and the phenomena they are intended to represent, and the philosophy, methodology and scientific credentials of economics. It examines the tension between economics as the logic of rational choice and as a predictive science, that is reason and reality respectively.It surveys the five most influential schools of thought in the methodology of economics, with special emphasis on theory appraisal: logical positivism, instrumentalism, a priorism, scientific realism and rhetorical analysis. Professor Fox assesses the extent to which economists have followed the precepts and consequences of their methodological position. He extends the discussion to consider the purpose of such economic inquiry, the scope of application and the appropriate structure of economic theory, as the legitimate sources of economic knowledge. In conclusion he argues that a resolution of existing and emerging methodological controversies in economics must begin with a better understanding of the various voices within the discipline.Intended as an introduction to the major schools of thought in economics, this book will be of interest to students and scholars of economics, philosophy and economic methodology.Trade Review'Economists are producers of economic knowledge. But what is the relation of that knowledge to the object of inquiry and to the mode of analysis? The status of a statement of knowledge depends on the positions economists accept in such matters. But economists have quite different perceptions of both the object of inquiry and their mode(s) of analysis. Glenn Fox presents the issues and the positions involved in these matters in a rich and lucid manner. His book is a superb introduction to methodological issues for the beginner and a suggestive review for the specialist.' -- Warren J. Samuels, Michigan State University, USTable of ContentsContents: 1. Is there a Crisis in Economics? 2. How do Economists Know What They Know? 3. What is Methodology? 4. Economics as Positivism and Falsificationism 5. Economics as Prediction 6. Economics as Deduction 7. Economics as Realism 8. Economics as Conversation and Rhetoric 9. Is Economics a Science? Index

Read more less

Book SynopsisThis book explores whether foreign direct investment (FDI) can contribute to the competitiveness of industries in Central Europe and to narrowing the gap between these transition economies and countries within the European Union. The Czech Republic, Hungary, Slovakia and Slovenia have attracted substantial FDI since the beginning of their transition to a market economy. Using exhaustive empirical data, the authors demonstrate that foreign investment enterprises in Central Europe have higher allocative efficiency, promote macro- and microeconomic restructuring and foster the restructuring of the manufacturing sector in accordance with the host countries' comparative advantages. The case of Austria is used to demonstrate the possible benefits of FDI. On the other hand, high foreign penetration leads to the concentration of production and exports and makes the economy more vulnerable to external shocks. In addition, there may be unwelcome pressures on economic policy in order to maintain the country's position as a frequented investment target. However, the analysis in this book suggests that, on the whole, economies in transition can become more competitive more rapidly and more profoundly with the help of foreign direct investment.This book will be of interest to students and scholars of international economics, European studies, economies of transition and international business.Trade Review'This book. . . represents a very valuable contribution to the literature on the role of FDI in development in Central and Eastern Europe. It is therefore a must for both scholars and practitioners who are involved in foreign investment in economies in transition.' -- Marjan Svetlicic, Transnational Corporations'The book goes a long way toward understanding a host of key issues related to the emerging pattern of MNC-cum-host collaborative growth in Central and Eastern Europe.' -- From the foreword by Terutomo Ozawa, Colorado State University, USTable of ContentsContents: Foreword Introduction 1. Introduction: Integration Through FDI Making Central European Industries Competitive 2. Central Europe Catching-up Through FDI? 3. FDI, Technology Transfer and Growth in Economic Theory 4. The Role of FDI in Restructuring and Modernization: An Overview of Literature 5. Austria – Catching-up Through Inward FDI? 6. Foreign Penetration in Central European Manufacturing 7. Restructuring and Efficiency Upgrading with FDI 8. Production Specialization in Central European Manufacturing 9. FIEs and Productivity Convergence in Central Europe 10. The Impact of FDI on the Foreign Trade of CECs 11. FDI in the Balance-of-Payments Framework Index

Read more less

Book Synopsis'Capitalism is Change'. This famous expression of Joseph Schumpeter was not only characteristic of his time, but is certainly relevant as we enter the twenty-first century. The transition of Eastern Europe and the former Soviet Union, the Asian crisis and European integration all characterise the continuous change of capitalism. What is the role of entrepreneurs in capitalist society? How effective are technological policies in changing institutions? Are the economic systems of the United States, Europe and Asia converging? In answer to these questions distinguished contributors - including Paul Krugman - focus on the theoretical foundations of the evolution of capitalist institutions. They apply these theoretical insights to the firm, sectors and economic systems.The combination of recent developments in theory with empirical studies will ensure that this book is essential reading for all those interested in evolutionary and institutional economics, political economy, technology policy, innovation and knowledge.Trade Review'This book is an important contribution to the growing literature on evolutionary economics, concentrating, as it does, on the human factor in economic evolution and avoiding the unconvincing arguments based almost entirely on mere analogy with biological processes of much of the writing in this field.' -- John Laurent, History of Economics ReviewTable of ContentsContents: 1. Implications of Evolutionary Economics; Theory, Method and Policies 2. What Economists Can Learn from Evolutionary Theorists – and Vice Versa 3. Discontinuous Changes in Institutional Systems 4. The Legacy of J.R. Commons’ Conception of Economics as a Science of Behaviour 5. Discovery Versus Creation 6. Uncertainty, Intelligence and Imagination 7. The Diffusion of Organisational Innovations 8. The Variety and the Dynamics of Capitalism 9. Understanding Varieties in the Structure and Performance of National Innovation Systems 10. Capabilities, Tacit Knowledge and Systematic Change 11. An Evolutionary Analysis of Technology Policy Index

Read more less

Book SynopsisResearch suggests that innovation and technological change are crucial for the economic recovery of the former centrally planned countries in Central and Eastern Europe. This book analyses the development of innovation systems and technology policy in this region from various perspectives, demonstrating not only its importance but also its complexity.Included in the book are discussions on: the process of transforming the innovation systems in Central and Eastern Europe a comparison of R&D between 'East' and 'West' gradualism versus 'Big Bang' as the preferable strategy for reform innovation at the firm level productivity and competitiveness the ability to identify and exploit external knowledge in adopting up-to-date technology The authors conclude that rebuilding innovation systems in Central and Eastern Europe will require considerable time, and that there is no 'best practice' or ideal strategy which can be clearly recommended.This book will be warmly welcomed by scholars working in the fields of transition studies, innovation and technology, as well as policy makers involved in designing technology policy in transition economies.Table of ContentsContents: 1. Innovation and Transformation in Post-Socialist Eastern Europe 2. Innovation Systems in Transition 3. Divergence or Convergence in Research and Development and Innovation Between ‘East’ and ‘West’? 4. The Big Bang as a Motivating Device 5. Innovation as a Means of Market Entry and Survival for Firms from Former Socialist Countries 6. Innovation and Transformation 7. The Inherited and Emerging Absorptive Capacities of Firms – Results of a Business Survey in the Estonian Electronics Industry 8. Export Reorientation and Transfer of Know-How and Technology – The Case of Hungarian Manufactured Exports 9. Human Capital and Innovation in Eastern and Western Germany 10. Innovation in Manufacturing Industry – An East West Comparison Index

Read more less

Book SynopsisThroughout the 1990s, Russian households experienced a dramatic fall in their traditional sources of subsistence: wages and social benefits. Many commentators have argued that households have adopted 'survival strategies' that enable them to make ends meet, particularly taking second jobs, growing their own food and calling on the help of family and friends. This book reviews the available data to analyse the forms, scale and incidence of these phenomena. The author finds that so-called 'survival strategies' merely represent a continuation of traditional soviet practices. He demonstrates that they disproportionately benefit the better off and that they do not provide a means by which those who have suffered misfortune can compensate for a fall in their earnings. Instead, he illustrates that most Russian households have adapted simply by cutting expenditure rather than by finding new sources of income. The author concludes by arguing that the notion of a 'household survival strategy' is inappropriate for the study of post-soviet society.Based on the analysis of a wide range of qualitative and quantitative data, Making Ends Meet in Contemporary Russia provides a comprehensive analysis of the means by which Russian households have secured their subsistence in the face of a collapse in wages and employment since the end of the soviet system. It will be required reading for all students, scholars and researchers of transition studies, development studies and human geography.Trade Review'. . . this work represents an important contribution to the literature on socioeconomic responses and outcomes in Russia and goes some way toward setting the future agenda for social policy and research. . . and can be recommended to all with an interest in socioeconomic conditions in contemporary Russia.' -- C.J. Gerry, Slavonic and East European Review'The book is nicely written and contains a wealth of empirical data that makes it very interesting reading. Because of the straightforward statistical analysis used too illustrate the author's arguments the book is also very accessible to both social scientists and the general public interested in this topic.' -- Roman Novozhilov, Progress in Development Studies'I believe the book would be of great interest to students and scholars of Russia. It is well documented, very well organized, and provocative. It challenges widely-held ideas about how the Russians are surviving the current economic crisis. . . Not only does the book present a fascinating analysis of the ways Russian households are dealing with everyday economic problems in a transitioning economy, but it also familiarizes the reader with numerous studies and surveys not well known outside of Russia.' -- Alya Guseva, Contemporary Sociology'The starting point for this impressively documented survey is taken as 1985 with employment and social needs more or less in balance.' -- RusistikaTable of ContentsContents: 1. Household Subsistence in the Russian Economic Crisis 2. Secondary Employment 3. The Russian Dacha and the Myth of the Urban Peasant 4. Social Networks and Private Transfers 5. Do Russian Households Have Survival Strategies? References Index

Read more less

Book SynopsisThis book examines the major issues arising from the Korean financial crisis of 1997. It considers the strong prospects for rapid economic recovery and the emerging changes in Korea's international economic relations and business environment.The authors investigate the causes of the financial crisis and provide an evaluation of remedial measures and reforms currently being introduced in both private and public sectors of the Korean economy. The book identifies a paradigm shift in Korean economic policy and discusses Korea's new role in both the regional and global economy. It also examines the major developments reshaping Korea's international business environment through fundamental policy shifts in trade, foreign direct investment, labor relations, management practices and the emerging trends in e-commerce.Korea's Economic Prospects will be of interest not only to academics and policy advisors but also to individuals and corporations attempting to capitalize on emerging business opportunities in Korea.Trade Review'. . . very well presented academic book. . . in Korea's Economic Prospects a valuable source of research material on the economy and its prospects. It will help one to understand the factors leading to the Korean recovery which has recently been recognised by the credit rating agency. . .' -- Marie-Aimee Tourres, The Journal of Development StudiesTable of ContentsContents: Foreword Preface Introduction Part I: Korea’s New Role in the Regional and Global Economy Part II: Macroeconomic Policy and Prospects Part III: Financial Crisis and Structural Reforms Part IV: Industrial Policy and Productivity in Korea Part V: Labor Market and Labor Relations Part VI: Changes in the International Business Environment Index

Read more less

Book SynopsisTen years ago the former Soviet Union was pictured in the West as a monolithic unit governed from Moscow with a firm hand. Today, the geographical area which once constituted the USSR no longer exists and the disparities between regions are increasing all the time. This is the first book to provide an overview of Russia's regional development during the entire Soviet period as well as presenting a penetrating analysis of the array of regional problems facing Russia as we move into the twenty-first century. It analyses factors contributing to cohesion and disintegration in Russia today, stressing the importance of ethnicity, religion and Russian nationalism. In examining regional developments and spatial policy during the Soviet period, the authors reveal a remarkable paradox that the development of heavy industry actually reduced regional inequalities, but as the economy diversified disparities widened. The book is also a document from 'the people who were there' - that is, those trying in the circumstances then prevailing to develop regional science which never achieved practical application under central planning. The authors conclude that the development of Russia is increasingly becoming an issue of the development of its regions.This book will be useful for academics working in the areas of transitional economics, economic geography, particularly those interested in long term regional divergence and convergence, and economic history.Trade Review'This is a thoughtful and welcome addition to the literature about regional development in the Soviet Union and post-Soviet Russia. . . It is adequately written and straightforwardly presented. It is a specialist book, assuming considerable introductory knowledge of the economic history and geography of the country on the part of the reader.' -- Andrew H. Dawson, Progress in Human GeographyTable of ContentsContents: Preface 1. The Soviet Paradox: Imbalanced Equalisation and Balanced Divergency 2. Soviet Regional Policy 3. Regional Development and Regional Policy in the Gorbachev Period 4. Regional Development and Regional Policy in the New Russia 5. Collapse or a New Dynamism? Bibliography Index

Read more less