Economic systems and structures Books

Book SynopsisSurveys twentieth century theologies of work, contrasting differing approaches to consider the problem of labor from a theological perspective. Aimed at theologians concerned with how Christianity might engage in social criticism, as well those who are interested in the connection between Marxist and Christian traditions Explores debates about labor under capitalism and considers the relationship between divine and human work Through a thorough reading of Weber's Protestant Work Ethic, argues that the triumph of the spirit of utility is crucial to understanding modern notions of work Draws on the work of various twentieth century Catholic thinkers, including Josef Pieper, Jacques Maritain, Eric Gill, and David Jones Published in the new and prestigious Illuminations series. Trade Review"These two excellent books provide thematic indices of Christian ways of understanding both power and work. They also illustrate how profoundly the repertoire of Christianity and of its Judaic origins permeates contemporary society in spite of the impossible prescriptions and false descriptions that declare religion confined to the private realm." (Times Literary Supplement, 29 July 2011) "Adam was expelled from the garden of Eden to till the ground in the sweat of his face, so the bible says, leaving us with centuries of theological argument about how to relate the reality for so many people of work as toil, drudgery and effectively a curse, to the equally familiar experience of work as creative achievement and personal fulfilment. Post-Christian we may now be in Britain, yet in a society still reeling from de-industrialization, with unemployment endemic in certain quarters, with leisure activities expanding vastly, and so on, there is a rich and complex Christian tradition of thinking about the nature of work which John Hughes puts back on the agenda in this provocative book." Fergus Kerr, University of Oxford "John Hughes has written not about work but about the 'end' of work. But this is the most far-reaching question imaginable in practical reason. To what end do we exert ourselves at all? What do we hope to achieve? Through a tour of reading in nineteenth and twentieth century thinkers that is as subtle and sympathetic as it is diverse and adventurous he has shown us how the ancient struggle between the fine and the useful has been played out dramatically in the post-industrial West, and holds the key to a great deal that we think of as modernity. Here is an exciting new voice contributing to the interpretation of our moral predicaments. I cannot imagine anyone putting Hughes’ book down without having learned something important." Oliver O'Donovan, University of Edinburgh "Its strength lies in its illuminating discussions of a fairly wide range of writers." Times Higher Education Supplement Table of ContentsForeword. Preface. Introduction: Work in the Christian Tradition. 1. Twentieth-century Theologies of Work: Karl Barth, Marie-Dominique Chenu, John Paul II and Miroslav Volf. 2. Utility as the Spirit of Capitalism: Max Weber’s Diagnosis of Modern Work. 3. Labour, Excess and Utility in Karl Marx: The Problem of Materialism and the Aesthetic. 4. John Ruskin and William Morris: An Alternative Tradition: Labor and the Theo-aesthetic in English Romantic Critiques of Capitalism. 5. The Frankfurt School: The Critique of Instrumental Reason and Hints of Return to the Theo-aesthetic within Marxism. 6. The end of Work: Rest, Beauty and Liturgy: The Catholic Metaphysical Critique of the Culture of Work and its Incorporation into the English Romantic Tradition: Josef Pieper, Jacques Maritain, Eric Gill and David Jones. 7. Concluding Remarks: Labor, Utility and Theology. Bibliography. Index

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Book SynopsisThe 2008 global economic crisis has led to a new age of austerity, based more on politics than economics, which threatens to undermine the very foundations of the welfare state. However, as resistance to the logic of austerity grows, this important book argues that there is still room for optimism.Trade Review"[The editors] are tackling an important agenda when they bring together a range of contributions on different aspects of the idea and practice of austerity." Citizen's Income Newsletter"This is sure to be an influential book on the contemporary literature on the politics of austerity. Featuring insightful contributions by some of the foremost theorists in social policy, the book offers a remarkably powerful analysis of governments’ recent overhauls of social policies.” Dr Lavinia Mitton, University of Kent"A timely, thought-provoking collection of critical scholarship which helps to better understand the ideology, politics and economics of austerity in contemporary welfare states and presents the reader with alternatives to the standard policy prescriptions of today." Professor Peter Starke, University of Southern DenmarkTable of ContentsIntroduction: social policy in the age of austerity ~ Kevin Farnsworth and Zoë Irving; Austerity: more than the sum of its parts ~ Kevin Farnsworth and Zoë Irving; Conventional wisdom on government austerity: UK politics since the 1920s ~ Michael Hill;
 The economics of austerity ~ Stephen Mcbride; Neoliberalism, finance-dominated accumulation and enduring austerity: a cultural political economy perspective ~ Bob Jessop;
 Alternatives to austerity ~ Dexter Whitfield and John Spoehr; Crisis, convulsion and the welfare state ~ Frances Fox-Piven and Lorraine Minnite; Conclusion: a new politics of welfare ~ Kevin Farnsworth and Zoë Irving.

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Book SynopsisThe 2008 global economic crisis has led to a new age of austerity, based more on politics than economics, which threatens to undermine the very foundations of the welfare state. However, as resistance to the logic of austerity grows, this important book argues that there is still room for optimism.Trade Review"[The editors] are tackling an important agenda when they bring together a range of contributions on different aspects of the idea and practice of austerity." Citizen's Income Newsletter"This is sure to be an influential book on the contemporary literature on the politics of austerity. Featuring insightful contributions by some of the foremost theorists in social policy, the book offers a remarkably powerful analysis of governments’ recent overhauls of social policies.” Dr Lavinia Mitton, University of Kent"A timely, thought-provoking collection of critical scholarship which helps to better understand the ideology, politics and economics of austerity in contemporary welfare states and presents the reader with alternatives to the standard policy prescriptions of today." Professor Peter Starke, University of Southern DenmarkTable of ContentsIntroduction: social policy in the age of austerity ~ Kevin Farnsworth and Zoë Irving; Austerity: more than the sum of its parts ~ Kevin Farnsworth and Zoë Irving; Conventional wisdom on government austerity: UK politics since the 1920s ~ Michael Hill;? The economics of austerity ~ Stephen Mcbride; Neoliberalism, finance-dominated accumulation and enduring austerity: a cultural political economy perspective ~ Bob Jessop;? Alternatives to austerity ~ Dexter Whitfield and John Spoehr; Crisis, convulsion and the welfare state ~ Frances Fox-Piven and Lorraine Minnite; Conclusion: a new politics of welfare ~ Kevin Farnsworth and Zoë Irving.

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Book SynopsisWritten by an expert in political science and straddling finance, economics and political science, this entry-level summary demystifies global finance and puts the financial crisis in its historical context. It also outlines the policy responses of Western governments to the crash and the ensuing recession and turn to austerity.Trade Review“As a simple-to-read introduction to and look back upon the financial crisis this is as good at it gets.” Professor Andrew Hindmoor, University of Sheffield, UK"David Clark has written an insightful introduction to the causes and consequences of the global financial crisis, to be welcomed both for its brevity and clarity" Dr Simon Lee, University of Hull, UK"This book is a `must read’ for anyone who wants a crash course on the global financial crisis and austerity. Written in a highly accessible manner, it uses academic experts’ insights to great effect to explain what happened and why." Professor Vivien A. Schmidt, Boston University, USA"Clark's political economy of the global financial crisis and its aftermaths is as clinical as it is accessible. It systematically demystifies and therefore empowers. This book deserves a wide readership." Professor Steve Tombs, The Open University, UK"We are still living in the shadow of the 2008 financial crash. David Clark provides an impressive overview of its causes and consequences, and how it has been interpreted." Professor Andrew Gamble, University of Cambridge, UK"Without deeper understanding of finance and economics, citizens cannot truly exercise their democratic agency. David Clark has met this challenge with a highly readable book that guides us through the complex landscape of the global financial crisis and its aftermath. Reading it is as much a democratic act as an educational one." Tony Greenham, Director, RSATable of ContentsIntroduction; Banking and shadow banking: an overview; From boom to bust and beyond; Putting the great financial crash in its place; Exploring the neoliberal heartland; Post-crash austerity; Finance-led capitalism at a crossroads?

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Book SynopsisAlmost 15 years ago, in The World is Flat, Thomas Friedman popularized the latest wave of globalization as a world of giant corporate supply chains that tripled world trade between 1990 and 2010. Major corporations such as Apple, Dell, and GE offshored manufacturing to low-cost economies; China became the world's factory, mass-producing and exporting computers and gadgets to Western shoppers. This paradigm of globalization has dominated global trade policy-making and guided hundreds of billions of dollars in business investments and development spending for almost three decades. But we are now on the cusp of a new era. Revolutionizing World Trade argues that technologies such as ecommerce, 3D printing, 5G, the Cloud, blockchain, and artificial intelligence are revolutionizing the economics of trade and global production, empowering businesses of all sizes to make, move, and market products and services worldwide and with greater ease than ever before. The twin forces of digitization and trade are changing the patterns, players, politics, and possibilities of world trade, and can reinvigorate global productivity growth. However, new policy challenges and old regulatory frameworks are stifling the promise of this most dynamic, prosperous, and inclusive wave of globalization yet. This book uses new empirical evidence and policy experiences to examine the clash between emerging possibilities in world trade and outdated policies and institutions, offering several policy recommendations for navigating these obstacles to catalyze growth and development around the world.Trade Review"Trade has historically been expensive, slow, and opaque. Today's disruptive technologies not only offer new solutions to old problems, but create wholly new global markets for products and services. Kati Suominen draws from her deep experience in the world of goods trade to clearly set out the parameters of this new global trading ecosystem, offering excellent insight and advice for goods producers seeking to get involved in frontier technologies like blockchain and AI."—Dr. Alisa DiCaprio, Head of Trade and Supply Chain, R3"Suominen brilliantly explores the impact of new technologies on the patterns, players, and possibilities of world trade, and their unparalleled potential to reignite productivity, raise incomes, and empower people. She then masterfully lays down a bold and innovative blueprint to help policymakers act on this potential. In an increasingly darkening global trade policy scenario, this is a book by a modern-day Renaissance woman on the renaissance of globalization!"—Anabel González, Nonresident Senior Fellow, Peterson Institute for International Economics, former Costa Rica Trade Minister, Senior Director of the World Bank Trade & Competitiveness, and former WTO Agriculture Director"An important new book, highlighting the trading opportunities that come with new technologies. It analyzes the challenges that need to be overcome, including cross-border procedures, and makes the key point that beyond digitizing trade, we also need to digitize customs, borders, and ports."—Jan Hoffmann, Chief, Trade Logistics Branch, Division on Technology and Logistics, UNCTAD"Professor Kati Suominen 'gets it.' Globalization, technology, and mass affluence have changed the rules for international expansion. In Revolutionizing World Trade, Suominen walks us through how these changes have upended the traditional trading world, driven by ecommerce and the Internet. Every international business should get this book. Then they can 'get it' as well."—Frank Lavin, Chairman, Export Now, former Undersecretary for International Trade, U.S. Department of Commerce"Revolutionizing World Trade provides an in-depth look at forces changing trade and global business and makes important recommendations for bold policy ideas which would enable outsized economic growth across global markets. A must-read for anyone driven to solve these big problems."—Brenda Santoro, Head of Global Trade, Silicon Valley Bank"Kati has a wealth of experience in international trade from both a private sector practitioner perspective as well as a public sector policy perspective. Her work has taken her to the forefront of the evolving trade landscape. This book elucidates this evolution and is a great contribution to the debate about the future of trade and our ability to shape its course for the betterment of the global community."—Steven Beck, Head of Trade and Supply Chain Finance, Asian Development Bank"Kati Suominen introduces this book as a roadmap for the far-sighted entrepreneur; however, it is much more than that. In Revolutionizing World Trade, she explores the opportunities and challenges facing businesses, policy makers, regulators, and society in general, before finally setting out her manifesto for using e-commerce as a key enabler for inclusive trade. Whatever your role or interest in e-commerce and trade, this book will help you better understand how e-commerce is shaping our world today and the benefits that it can bring tomorrow."—Steven Pope, Vice President Customs & Regulatory Affairs, DHL Express Europe"In a time of taking two steps back, Revolutionizing World Trade makes a bold leap into the future and the verdict is there is nothing to fear! Suominen provides a thorough review of what's to come for the global economy and while not shying from the real challenges facing consumers, governments and businesses, generates a sense of promise and optimism sorely missing from today's discourse on global affairs."—Susan F. Stone, Senior Trade Advisor, OECD"Suominen examines the opportunities that new technologies will open up in world trade, ushering in what she calls 'globalization 4.0' within a decade. This future is already apparent, in an incipient form."—Richard N. Cooper, Foreign Affairs"This [is a] lively, well-written book....Suominen is well versed in these issues, is at home as a policy wonk, and has all the right credentials (and she adds a welcome sense of humor and irreverence)....Highly recommended."—I. Walter, CHOICETable of Contents1. Introduction 2. World Economy Goes to Heaven 3. Killer App for World Trade 4. When Six Billion People Go to the Mall 5. Driverless Delivery, Door to Door 6. Finding $1.7 Trillion 7. The Big Query 8. Offline 9. Stuck in Customs 10. Splinternet 11. Credit Crunch 12. Techlash and Trade Wars 13. Better Trade By More People

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Book SynopsisPermanent Revolution concisely describes the development and workings of capitalism and its influence on the broader society. In the developed world—Europe, North America, and parts of East Asia—capitalism is ubiquitous, and as such, often taken for granted. Discussion usually focuses on specific aspects of the system that individuals appreciate or dislike, ignoring the larger picture. The notion of millennials denouncing capitalism on Facebook and Twitter—products of capitalist development—is a caricature that is eerily close to reality. In this book, Wyatt Wells examines the development of economic innovation, the role of financial markets, the business cycle, the ways markets operate, and the position of labor in capitalist economies, as well as the effects of capitalism on law, politics, religion, and even the arts. This discussion is grounded in history, though it does make use of economic theory. As a result, the book sometimes approaches topics from an unconventional direction. For instance, it notes that financial markets not only pool and allocate the resources of savers—the role ascribed to them in conventional economics textbooks—but they also discipline enterprises, punishing those unable to meet prescribed financial standards. Permanent Revolution ranges broadly, delving into how capitalism reshapes the broader society. The system creates wealth in new and, often, unexpected places, and it constantly moves people physically and socially. The result revolutionizes society. Traditional structures based on deference and long experience gradually collapse because they no longer correspond to social reality. Capitalist societies must devise ways to accommodate perpetual change in politics, religion, and society. Much of the diversity, liberty, and flexibility we associate with modern society are the product of capitalist development.Trade Review"A wonderful outline of how capitalism works and a spirited defense of its classical principles. This is a text of great use both to those who celebrate the achievements of capitalism and those who want to critique its basic tenets."—O.A. Westad, Elihu Professor of History and Global Affairs, Yale University"Wyatt Wells' Permanent Revolution is a brisk, lively, and thoroughly original anatomy of, and meditation on, capitalism. At a time when capitalism's future is increasingly being called into question, Wells offers a powerful but balanced defense of this economic system. Broadly conceived and well executed, this book constitutes an important and necessary contribution both to the scholarly literature and to contemporary debates."—Peter A. Coclanis, Albert R. Newsome Distinguished Professor of History and Director of the Global Research Institute, University of North Carolina at Chapel Hill"This is a beautifully written small book about a very big subject: the origin and worldwide spread of dynamic, ever-changing free market economies. Wells celebrates the almost unbelievable material growth achieved by the role-governed competition of risk-taking, profit-seeking entrepreneurs. He evaluates the claims of anticapitalist critics, and explores the often conflicted interaction of economic systems and the broader social realm, including even religion and the arts."—Paul K. Conkin, Distinguished Professor of History, Vanderbilt University"Permanent Revolutionis a superb integrative discussion of capitalism that unites history and economics with its political, cultural, and sociological foundations. When academics typically confine themselves to an in-depth 'silo' of knowledge cut off from other domains, this form of integration is rare and welcome."—Raymond C. Niles, EH.net

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Book SynopsisEconomic corridors—ambitious infrastructural development projects that newly liberalizing countries in Asia and Africa are undertaking—are dramatically redefining the shape of urbanization. Spanning multiple cities and croplands, these corridors connect metropolises via high-speed superhighways in an effort to make certain strategic regions attractive destinations for private investment. As policy makers search for decentralized and market-oriented means for the transfer of land from agrarian constituencies to infrastructural promoters and urban developers, the reallocation of property control is erupting into volatile land-based social conflicts. In Shareholder Cities, Sai Balakrishnan argues that some of India's most decisive conflicts over its urban future will unfold in the regions along the new economic corridors where electorally strong agrarian propertied classes directly encounter financially powerful incoming urban firms. Balakrishnan focuses on the first economic corridor, the Mumbai-Pune Expressway, and the construction of three new cities along it. The book derives its title from a current mode of resolving agrarian-urban conflicts in which agrarian landowners are being transformed into shareholders in the corridor cities, and the distributional implications of these new land transformations. Shifting the focus of the study of India's contemporary urbanization away from megacities to these in-between corridor regions, Balakrishnan explores the production of uneven urban development that unsettles older histories of agrarian capitalism and the emergence of agrarian propertied classes as protagonists in the making of urban real estate markets. Shareholder Cities highlights the possibilities for a democratic politics of inclusion in which agrarian-urban encounters can create opportunities for previously excluded groups to stake new claims for themselves in the corridor regions.Trade Review"This book exemplifies scholarship that goes beyond simplistic generalizations. It challenges the Western conceptualizations of India’s urbanization and development processes." * Journal of Planning Education and Research *"Balakrishnan has produced a definitive report on the effects of market liberalization and decentralization of governance in the Western Indian region of the Mumbai-Pune economic corridor." * Eurasian Geography and Economics *"The book is an empirically rich and highly informative narrative of 'agrarian-urban uneven development' along India’s new economic corridors." * South Asia Multidisciplinary Academic Journal *"This book is well-written and easy to read. It takes on a difficult, complex set of processes and makes them accessible. It is ambitious in its scope, trying to bring together diverse theoretical frameworks that don’t often speak to each other." * International Journal of Urban and Regional Research *"In Shareholder Cities, compendious scholarship from agrarian, development and urban studies, law, planning, and history is woven together into a rich analytical fabric. Sai Balakrishnan has achieved such a tour de force in the new, necessary and transgressive field of agrarian urbanization that it is impossible not to be selective in these reflections." * Regional Studies *"[A]n original contribution to scholarship on urbanization in India’s post-liberalization era, and it fills a major gap in the literature on the political economy of Maharashtra and the role therein of Maratha-caste agrarian elites…Balakrishnan offers a fascinating and empirically rich account of the political and economic transformations along the new economic corridors." * Pacific Affairs *"Shareholder Cities brings nearly every big development question and debate in India into sharp focus. Through deep and rich case studies of cities along one of India's largest infrastructure corridors (Mumbai-Pune), Balakrishnan shows how large-scale land use changes are being driven, negotiated, and contested. Weaving together central themes in the most influential paradigms of developmental transformation, Sai Balakrishnan shows how capital, farmers, castes, state logics, and local democratic institutions all intersect in producing a range of outcomes. Shareholder Cities is that rare book that does not merely theorize but actually makes us understand how big structural forces of development work themselves out through the local." * Patrick Heller, Brown University *"Original, thoughtful, and timely, Shareholder Cities offers a fresh perspective on the political economy of land use change in one of the most dynamic regions of India." * Sanjoy Chakravorty, Temple University *"Shareholder Cities is a pathbreaking study of peripheral development along India's transportation corridors. Breaking with the urban-rural binary, Sai Balakrishnan compares different treatments of liminal space to identify those most benefiting poor people. Her attention to cooperatives is a particularly important investigation of the redevelopment of formerly agricultural lands into urban real estate." * Susan S. Fainstein, author of The Just City *

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Book SynopsisThis ambitious collection follows the evolution of capitalism from its origins in 13th-century European towns to its 16th-century expansion into Asia, Africa and South America and on to the global capitalism of modern day. Written by distinguished historians and social scientists, the chapters examine capitalism and its critics and the level of variation and convergence in its operation across locations. The authors illuminate the aspects of capitalism that have encouraged, but also limited, social responsibility and environmental sustainability. Covering times, places and topics that have often been overlooked in the existing literature, this important contribution to the field of economic history charts the most comprehensive chronology of capitalism to date.Table of Contents1. Introduction - Catherine Casson and Philipp Robinson Rössner 2. The Market as an Institution: Theory and History - Mark Casson 3. Regulating Capitalism - Philipp Robinson Rössner 4. Capitalism and State Ownership Models - Sverre A. Christensen 5. Comparative and Connected Global Capitalism(s) - Edmond Smith 6. Capitalism, Imperialism and the Emergence of an Industrialized Global Economy - Colin M. Lewis 7. Religion and Capitalism - David J. Jeremy 8. Capitalism and the Environment - Geoffrey Jones 9. Capitalism and Income Inequality - Catherine Casson 10. Conclusion - Catherine Casson and Philipp Robinson Rössner

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Book SynopsisThe COVID-19 pandemic is a Rorschach test for society: everyone sees something different in it, and the range of political and economic responses to the crisis can leave us feeling overwhelmed. This book cuts through the confusion, dissecting the new post-coronavirus capitalism into several policy areas and spheres of action to inform academic, policy and public discourse. Covering all the major aspects of contemporary capitalism that have been affected by the pandemic, Andreas Nölke deftly analyses the impacts of the crisis on our socio-economic and political systems. Signposting a new era for global capitalism, he offers alternatives for future economic development in the wake of COVID-19.Table of Contents1. Introduction: Confronting a Multidimensional Crisis of Capitalism Part 1: Capitalism and Society 2. Health Systems: Private or Public? 3. Welfare State: Restoration or Universal Basic Income? 4. Reproductive Work: Positive Re-evaluation or the Same Old Neglect? 5. Gendered Occupations: Equality or Back to Traditional Patterns? 6. Migration: Closed Borders or Open Doors? 7. Inequality: Increase or Reduction? Part 2: Domestic Institutions of Capitalism on the Demand Side 8. Monetary Policy: Democratic or Technocratic? 9. Fiscal Policy: Absolute Ceiling or no Limits to Deficit Spending? 10. Tax Policy: Conventional or Unconventional Measures? 11. Industrial Policy: Laissez-faire or State Leadership? Part 3: Domestic Institutions of Capitalism on the Supply Side 12. Corporate Governance: Public Responsibility or Shareholder Value? 13. Finance: Fragile or Stable? 14. Industrial Relations and Training: Strengthening or Weakening of Unions? 15. Innovation: Frugal or Radical? 16. Competition Policy: Economic Concentration as Vice or Virtue? Part 4: The International Institutions of Capitalism 17. Global Production Networks: Diversification or Reshoring? 18. Foreign Direct Investment: Promotion or Restriction? 19. Investor–State Dispute Settlement: Business as Usual or Moratorium? 20. Trade Policy: Liberalism or Protectionism? 21. Intellectual Property Rights: Global Commons for Vaccines or Private Property? 22. Global Health Governance: Intergovernmental or Private–Public Networks? 23. Foreign Debt in the Global South: Permanent Write-off or Temporary Relief? Part 5: Anthropocene Capitalism 24. Climate Change: Cheap Dirty Energy or Green New Deal? 25. Degrowth: Necessity or Fantasy? 26. Agriculture: Global Supply Chains or Local Community Support? Part 6: Geo-economic Shifts in Global Capitalism 27. China–US Struggle for Global Economic Hegemony: Contender or Incumbent? 28. EU Economic Governance: Erosion or Integration? 29. The Political Economy of Security: Less or More Protection? Part 7: Ideologies in Contemporary Capitalism 30. Authoritarian or Democratic Capitalism? 31. Liberal or Organized Capitalism? 32. Communitarian or Cosmopolitan Capitalism? 33. Conclusion: Competing Visions of Capitalism and their Perspectives

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Book SynopsisWhat new products or services should you launch next year? How can you improve the productivity of a paint line? What should you name your new venture? How can you decrease patient waiting times? How can you improve the customer experience? Pretty much any creative problem-solving task can be framed as seeking a new match between solution and need, from operational process improvements to creating strategies to foster organic growth. Innovation tournaments aim to find a match that is not just good, but exceptional. Leveraging more than two decades of experience organizing innovation tournaments in Silicon Valley and on Wall Street, from Buenos Aires to Kuwait City, Shanghai to Moscow, and with many Fortune 500 companies, two renowned researchers, entrepreneurs, and the foremost experts on innovation tournaments offer a template that you can use to generate winning ideas that will drive great outcomes—whatever your challenges, whatever your business. In The Innovation Tournament Handbook: A Step-by-Step Guide to Finding Exceptional Solutions to Any Challenge, Wharton professors Christian Terwiesch and Karl T. Ulrich offer an engaging, often humorous, and always actionable guide to help you learn: --How to frame and articulate your specific innovation challenge --How to decide on the right format, structure, and strategic direction for your own innovation tournament --How to maximize the quality of the opportunities that will compete --How to select the very best ideas --How to develop those ideas into real-world opportunities --How to use tournaments to foster a culture of innovation Fast-reading and filled with real-world successes, The Innovation Tournament Handbook is a comprehensive roadmap to finding a new match between a solution and a need that is not merely good, but exceptional.Trade Review"A lively, thoughtful primer for generating solutions to a wide range of problems." * Kirkus Reviews *"Innovation is one of the greatest opportunities to address the challenges we face in the world. In The Innovation Tournament Handbook, Wharton professors Christian Terwiesch and Karl Ulrich offer a method for generating winning ideas that will drive great outcomes." * Neil Blumenthal, CEO, Warby Parker *"Accessible and fast-reading, Christian Terwiesch and Karl Ulrich’s new book is filled with stories of organizations that have run innovation tournaments that have generated game-changing successes. In The Innovation Tournament Handbook, the authors break down how they did it and offer a step-by-step guide for anyone wishing to do the same." * Eurie Kim, Managing Partner, Forerunner Ventures *"Clarity, accessibility, and usefulness are the hallmarks of The Innovation Tournament Handbook. Despite being a quick read for anyone short on time, the step-by-step ideas presented by Christian Terwiesch and Karl Ulrich are easy to remember, and even easier to apply. After completing the book, you’ll be able to run a tournament of your own with confidence—and in no time flat." * Phil Kim, Chief Innovation, Strategy & Creative Officer, Universal Nutrition *"At last, Wharton professors Christian Terwiesch and Karl Ulrich have distilled their experience running more than 100 innovation tournaments to provide a roadmap anyone can use to run their own. The Innovation Tournament Handbook is a must-read for anyone who wants to find an optimal match between a challenge and an exceptional solution." * Ravi Viswanathan, Founder & Managing Partner, NewView Capital *"At PennMedicine we have conducted a number of innovation tournaments ranging from focused workshops at the department level to tournaments that involved our entire network. The tournament process not only created exceptional ideas but also helped us foster a culture of innovation." * Kevin B. Mahoney, CEO, Penn Medicine *"With The Innovation Tournament Handbook, Christian Terwiesch and Karl Ulrich apply their vast experience in innovation to offer organizations of all sizes a novel way to generate ideas to address a broad range of challenges." * Andres E. Sadler, CEO Global Business Services, Wolters Kluwer *

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Book SynopsisWhat new products or services should you launch next year? How can you improve the productivity of a paint line? What should you name your new venture? How can you decrease patient waiting times? How can you improve the customer experience? Pretty much any creative problem-solving task can be framed as seeking a new match between solution and need, from operational process improvements to creating strategies to foster organic growth. Innovation tournaments aim to find a match that is not just good, but exceptional. Leveraging more than two decades of experience organizing innovation tournaments in Silicon Valley and on Wall Street, from Buenos Aires to Kuwait City, Shanghai to Moscow, and with many Fortune 500 companies, two renowned researchers, entrepreneurs, and the foremost experts on innovation tournaments offer a template that you can use to generate winning ideas that will drive great outcomes—whatever your challenges, whatever your business. In The Innovation Tournament Handbook: A Step-by-Step Guide to Finding Exceptional Solutions to Any Challenge, Wharton professors Christian Terwiesch and Karl T. Ulrich offer an engaging, often humorous, and always actionable guide to help you learn: --How to frame and articulate your specific innovation challenge --How to decide on the right format, structure, and strategic direction for your own innovation tournament --How to maximize the quality of the opportunities that will compete --How to select the very best ideas --How to develop those ideas into real-world opportunities --How to use tournaments to foster a culture of innovation Fast-reading and filled with real-world successes, The Innovation Tournament Handbook is a comprehensive roadmap to finding a new match between a solution and a need that is not merely good, but exceptional.Trade Review"A lively, thoughtful primer for generating solutions to a wide range of problems." * Kirkus Reviews *"Innovation is one of the greatest opportunities to address the challenges we face in the world. In The Innovation Tournament Handbook, Wharton professors Christian Terwiesch and Karl Ulrich offer a method for generating winning ideas that will drive great outcomes." * Neil Blumenthal, CEO, Warby Parker *"Accessible and fast-reading, Christian Terwiesch and Karl Ulrich’s new book is filled with stories of organizations that have run innovation tournaments that have generated game-changing successes. In The Innovation Tournament Handbook, the authors break down how they did it and offer a step-by-step guide for anyone wishing to do the same." * Eurie Kim, Managing Partner, Forerunner Ventures *"Clarity, accessibility, and usefulness are the hallmarks of The Innovation Tournament Handbook. Despite being a quick read for anyone short on time, the step-by-step ideas presented by Christian Terwiesch and Karl Ulrich are easy to remember, and even easier to apply. After completing the book, you’ll be able to run a tournament of your own with confidence—and in no time flat." * Phil Kim, Chief Innovation, Strategy & Creative Officer, Universal Nutrition *"At last, Wharton professors Christian Terwiesch and Karl Ulrich have distilled their experience running more than 100 innovation tournaments to provide a roadmap anyone can use to run their own. The Innovation Tournament Handbook is a must-read for anyone who wants to find an optimal match between a challenge and an exceptional solution." * Ravi Viswanathan, Founder & Managing Partner, NewView Capital *"At PennMedicine we have conducted a number of innovation tournaments ranging from focused workshops at the department level to tournaments that involved our entire network. The tournament process not only created exceptional ideas but also helped us foster a culture of innovation." * Kevin B. Mahoney, CEO, Penn Medicine *"With The Innovation Tournament Handbook, Christian Terwiesch and Karl Ulrich apply their vast experience in innovation to offer organizations of all sizes a novel way to generate ideas to address a broad range of challenges." * Andres E. Sadler, CEO Global Business Services, Wolters Kluwer *

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Book SynopsisCorporations are expanding their performance to both financial economic performance (ESP) and non-financial environmental, ethical, social and governance (EESG) sustainability performance to effectively achieve their objective of creating shared value for all stakeholders. Companies are now adopting the mission of profit-with purpose by shifting their goals to create shareholder value while fulfilling their social, environmental and governance responsibilities. Management play an important role in pursuing the mission of profit-with purpose and in integrating business sustainability into corporate culture, business environment and strategic plans and decisions.Corporations can create a right balance between the wealth-maximization for shareholders under the shareholder primacy concept while achieving the welfare-maximization for all stakeholders under the stakeholder primacy concept. The global move toward the adoption of benefit corporations and profit-with-purpose companies is inevitable as sustainability initiatives are being integrated into corporate strategies, supply chain, decisions, actions, and performance.Business Sustainability: Profit-with-Purpose Focus consists of four chapters covering all aspects of business sustainability with a keen focus on the concept of profit-with purpose.Anyone who is involved with business sustainability and corporate governance, the financial reporting process, investment decisions, legal and financial advising, audit functions, and corporate governance education will be interested in this book. Specifically, corporations, their executives and the boards of directors, internal and external auditors, accountants, lawyers, lawmakers, regulators, standard-setters, investors, business schools, and other professionals will benefit from this book.

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Book SynopsisIt's time to rethink how we create and allocate money. In Outgrowing Capitalism, Marco Dondi sheds light on the fact that most people do not have the economic security to focus on purpose and life fulfilment. He proposes that this is not the way things have to be; there is an alternative. In a quest to change our economic system to cater for everyone, he identifies deep issues in how money is created and allocated and connects these to capitalism. He shows that the assumptions and circumstances that made capitalism a success are no longer true today and then describes a new socio-economic model, Monetism. Dondi's solution is to provide a pragmatic roadmap to institutionalize Monetism and solve societal issues that seemed as permanent as time.

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Book SynopsisThis edited collection brings together a broad range of case studies to highlight the role of Canadian corporations in producing, deepening and exacerbating conditions of dispossession both at home and abroad. Rather than presented as instances of exceptional greed or malice, the cases are described as expected and inherent consequences of contemporary capitalism and/or settler colonialism. A core purpose of the book is to combine and synthesize analyses of dispossession within and outside of Canada. While the literature tends to treat the two as distinct and unrelated phenomena, these processes are often connected, as the normalization of settler colonialism at home can lead to indifference and acceptance of dispossession caused by Canadian companies abroad. This book brings local and global cases together in order to present a rigorous analysis of the role of Canadian corporate activity in processes of dispossession.The book includes a diversity of theoretical approaches related to the overarching theme of capitalism and dispossession; however, they share a critical analysis of capitalism and its implications on marginalized peoples at home and abroad. Included are political economy approaches that draw on the work of theorists such as David Harvey, important interventions from Indigenous and settler colonial studies, feminist approaches using the work of scholars such as Silvia Federici and the concept environmental racism, which draws on both critical race theory and environmental justice literature.

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Book SynopsisThis book puts human beings back at the heart of the economic process. It shows how this classical, human-centred tradition, stretching from Adam Smith onward, gives us a much better understanding of economic events - and what to do about them - than the mechanistic, mathematical models of too many economists and planners today.'- Eamonn Butler, The Adam Smith Institute, UK'David Simpson writes about key economic issues with admirable lucidity. He draws deeply on experience as well as on his knowledge of economic theory.'- Asa BriggsDavid Simpson skilfully argues that a market economy can be best understood as a human complex system, a perspective that represents a continuation of the classical tradition in economic thought. In the classical tradition, growth rather than allocative efficiency is the principal object of enquiry, economic phenomena are recognised to be elements of processes rather than structures, and change is evolutionary.The book shows the common principles that connect the early classical school, the Austrian school and complexity theory in a single line of thought. It goes on to show how these principles can be applied to explain the characteristic features of a market economy - namely incessant change, growth, the business cycle and the market process itself - and argues that static equilibrium theory, whether neoclassical or neo-Keynesian, cannot satisfactorily account for these phenomena.This fascinating book will provide a stimulating read for academics, postgraduate students and all those with an interest in economic theory and economic policy.Contents: Preface 1. Introduction 2. Human Behaviour 3. Qualitative Change and Quantitative Growth 4. Adaptation, Emergence and Evolution 5. Self-organisation and Complexity 6. Markets, Competition and Entrepreneurship 7. Specialisation and Growth 8. Prosperity and Recession 9. Government 10. The Rediscovery of Classical Economics Bibliography IndexTrade ReviewThis is a book you should read. Whether your interest is in economic theory or in its history, you should read this book. . . I cannot emphasise how radical this book is. It introduces you to a way of thinking that has now been all but lost yet is as powerful a lens for understanding an economy as has ever been developed. Moreover, the book is as clear and readable as any book you will have ever held in your hands. It will take you places you may never have been and help you understand issues that remain opaque because of the way in which economic issues are framed today. . . If you would like to have at least a sense of what is missing from economic theory today, other than my own there is no book I could recommend more than this. --Steven Kates, History of Economic Ideas[T]he book is an ambitious attempt to sketch out the narrative on the old (classic) and new view of the 'complex evolving economy'. It is thought provoking and stimulating: well worth a reading. . . the book offers two intertwined narratives, one focused on the interpretation of the long-term history of modern industrialization and contemporary growth, and another on the history of the theory and how it went astray. Both narratives are very knowledgeable and in most instances rather convincing. . . Simpson's essay is well in tune, indeed, with the authentic Smith. --Giovanni Dosi, Journal of Economic LiteratureThe diligent seeker of truth about our current discontents should turn to. . . The Rediscovery of Classical Economics, by David Simpson. . . Its ostensible object is to resurrect what he calls the ''classical tradition'' emanating from Adam Smith and distinguish it not only from Keynesian economics but also from today's mainstream - known to aficionados as the ''neoclassical'' orthodoxy. Without going into academic details, this orthodoxy stands accused of replacing a theory of relative prices (how many loaves will buy a pullover) with a more sophisticated account of economic growth, and of foisting on us a theory of ''rational expectations'' that are anything but rational. --Samuel Brittan, Financial TimesTable of ContentsContents: Preface 1. Introduction 2. Human Behaviour 3. Qualitative Change and Quantitative Growth 4. Adaptation, Emergence and Evolution 5. Self-organisation and Complexity 6. Markets, Competition and Entrepreneurship 7. Specialisation and Growth 8. Prosperity and Recession 9. Government 10. The Rediscovery of Classical Economics Bibliography Index

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Book SynopsisTackling innovation as an endogenous process, this groundbreaking new book builds upon the Schumpeterian creative response by implementing the tools of complexity economics. This reappraisal of the Schumpeterian legacy allows the author to apply complexity economics to endogenous knowledge externalities and consequently move away from the Darwinistic and biological accounts of evolutionary economics. This approach proves that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of this reaction is contingent upon access conditions to knowledge externalities. Cristiano Antonelli demonstrates that the consequent introduction of innovations may, in turn, knock firms further out of equilibrium and cause positive changes in the system's properties that feed the introduction of further innovations. In addition, this can also engender the decline of the system's properties and push firms to adaptive response that drive the system towards an equilibrium without growth and change. This path dependent loop of interactions between the system properties and the individual actions of firms is central to this book. Paving the way to a new phase of evolutionary economics, the book's prime readership will be students and scholars who study and teach evolutionary economics, the economics of innovation and/or the economics of growth.Trade Review'Professor Antonelli has clearly articulated the Schumpeterian view of endogenous innovation in this new undertaking. With that as a foundation, he has masterfully shown the reader the subtle and often overlooked relationships among knowledge, innovation, technological advancement and economic growth. This book is scholarship at its best. A must read for those at any stage of their intellectual journey.' --Albert N. Link, University of North Carolina at Greensboro, US'Cristiano Antonelli explores almost a century of economic research on innovation and skillfully brings together the giants of innovation economics, namely Joseph Alois Schumpeter, Alfred Marshall and Kenneth Arrow. The book introduces a comprehensive economic approach for the analysis of innovation processes and broadly encompasses all fields where innovation is of the utmost importance: knowledge generation, industrial innovation, trade and growth.' --Andreas Pyka, University of Hohenheim, GermanyTable of ContentsContents: PART I Endogeneous Innovation as a Creative Response. A Reappraisal of the Schumpeterian Legacy 1. Standing on the Shoulders of Giants 2. Innovation as a Creative Response 3. Towards an Evolutionary Complexity of Endogenous Innovation 4. Innovation as an Emergent System Property PART II New Frontiers in the Economics of Knowledge. The Appropriability Trade off Reconsidered 5. A Bird’s View of the Economics of Knowledge 6. The Derived Demand for Knowledge 7. The Knowledge Appropriability Trade-Off 8. Digital Knowledge Generation and the Appropriability Trade-Off 9. Knowledge Governance, Pecuniary Knowledge Externalities and Total Factor Productivity Growth 10. A New Framework of Innovation and Knowledge Policy PART III Endogenous Knowledge and Technological Congruence 11. Technological Congruence and the Economic Complexity of Technological Change 12. A Schumpeterian Approach to Endogenous Specialization in International Trade 13. Schumpeterian Growth: The Creative Response to Knowledge Exhaustibility 14. References Index

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Book SynopsisHow have the most influential political economists of the past three centuries theorized about sovereign borrowing and shaped its now widespread use? This important question receives a comprehensive answer in this original work, featuring careful textual analysis and illuminating exhibits of public debt empirics since 1700. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists alike. The book simultaneously explicates and critiques the most prominent theories concerning why states borrow in the first place, whether or not they borrow productively, the incidence of their debts, why they sometimes borrow too much and why they often default, whether explicitly or implicitly. The author classifies major public debt theorists as pessimists, optimists or realists. This book also examines the influence of regime types, especially why most modern welfare states tend not only to over-issue bonds but also to incur even larger implicit obligations via unfunded, off-balance sheet liabilities. Scholars and undergraduate and graduate students in economics and political science, as well as policymakers, will find this analysis of public debt and public spending insightful and revealing.Trade Review'Richard Salsman presents a powerful indictment of the world's delusions about public debt. His arguments are so lucid and evidence so clear that even politicians and journalists can follow them with much profit.' --(Steve H. Hanke, Johns Hopkins University, US)'The Political Economy of Public Debt is an insightful treatment of all the major theories and controversies regarding public debt since the 1700s. The author, moreover, is no axe grinder; to the contrary, he presents a fair and balanced narrative that will prove informative to all interested readers.' --(Richard Wagner, George Mason University, US)'Salsman provides a very insightful integration of the history of public debt and the primary theories regarding the consequences of governmental debt. His discussion of economic laws and political science raise a clear issue about the relationship of unrestricted democracy and unrestricted public debt. This book is an important contribution to understanding an issue that will have significant impact on the future of western civilization. Well worth reading.' --(John Allison, Retired Chairman and CEO of BB&T and Retired President and CEO of Cato Institute, US)Table of ContentsContents: Introduction 1. A Brief History of Public Debt 2. Classical Theories of Public Debt 3. Keynesian Theories of Public Debt 4. Public Choice and Public Debt 5. The Limits of Public Debt Conclusion Index

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Book SynopsisOne of the most striking phenomena in all of economics is the absence of a deep tradition of criticism focused on Keynesian economic theory. There have been critics but they are few and far between, even though Keynesian demand management has been at the centre of some of the worst economic outcomes in history, from the great stagflation of the 1970s to the twenty-year 'lost decade' in Japan that has been ongoing since the 1990s, and now, once again, the dismal recoveries that have followed the Global Financial Crisis. This book brings together some of the most vocal critics of Keynesian economics of the present time.Each author attempts to explain what is wrong with Keynesian theory for those seeking guidance on where to turn for a more accurate explanation of the business cycle and what to do when recessions occur. The contributions are by scholars from a wide number of schools of economics, include but are not restricted to Austrian, monetarist and classical perspectives. Written not just for economists, this accessible book is one of the few anti-Keynesian texts available and explains the inability of public spending and lower interest rates to have restored robust economic growth and full employment after the GFC. The collection offers an antidote to contemporary macroeconomic theory. It is an essential text for anyone wishing to understand why no stimulus has been able to bring recovery to any economy in which it has been tried.Contributors include: P.Boettke, P.L. Bylund, T. Congdon, R.M. Ebeling, R.W. Garrison, S. Horwitz, S. Kates, A. Kling, A.B. Laffer, P. Newman, G. Reisman, D. Simpson, M. Skousen, P. SmithTable of ContentsContents: Introduction 1. The Keynesian Liquidity Trap: An Austrian Critique Peter Boettke and Patrick Newman 2. What the Entrepreneurial Problem Reveals about Keynesian Macroeconomics Per L. Bylund 3. A Critique of Two Key Concepts in Keynesian Textbooks Tim Congdon 4. The Misdirection of Keynesian Aggregates for Understanding Monetary and Cyclical Processes Richard M. Ebeling 5. Cycles and Slumps in an Overly Aggregated Theoretical Framework Roger W. Garrison 6. The Problems with Keynesianism: A View from Austrian Capital Theory Steven Horwitz 7. The Dangers of Keynesian Economics Steven Kates 8. The Problem of Keynesian Aggregation Arnold Kling 9. What’s Wrong with Keynesian Economists? Arthur B. Laffer 10. Capital, Saving and Employment George Reisman 11. What’s Wrong With Keynesian Economics? David Simpson 12. Move Over Keynes: Replacing Keynesianism with a Better Model Mark Skousen 13. The Conclusive Fault Line in Keynesian Economics Peter Smith Index

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Book SynopsisOne of the most striking phenomena in all of economics is the absence of a deep tradition of criticism focused on Keynesian economic theory. There have been critics but they are few and far between, even though Keynesian demand management has been at the centre of some of the worst economic outcomes in history, from the great stagflation of the 1970s to the twenty-year 'lost decade' in Japan that has been ongoing since the 1990s, and now, once again, the dismal recoveries that have followed the Global Financial Crisis. This book brings together some of the most vocal critics of Keynesian economics of the present time.Each author attempts to explain what is wrong with Keynesian theory for those seeking guidance on where to turn for a more accurate explanation of the business cycle and what to do when recessions occur. The contributions are by scholars from a wide number of schools of economics, include but are not restricted to Austrian, monetarist and classical perspectives. Written not just for economists, this accessible book is one of the few anti-Keynesian texts available and explains the inability of public spending and lower interest rates to have restored robust economic growth and full employment after the GFC. The collection offers an antidote to contemporary macroeconomic theory. It is an essential text for anyone wishing to understand why no stimulus has been able to bring recovery to any economy in which it has been tried.Contributors include: P.Boettke, P.L. Bylund, T. Congdon, R.M. Ebeling, R.W. Garrison, S. Horwitz, S. Kates, A. Kling, A.B. Laffer, P. Newman, G. Reisman, D. Simpson, M. Skousen, P. SmithTable of ContentsContents: Introduction 1. The Keynesian Liquidity Trap: An Austrian Critique Peter Boettke and Patrick Newman 2. What the Entrepreneurial Problem Reveals about Keynesian Macroeconomics Per L. Bylund 3. A Critique of Two Key Concepts in Keynesian Textbooks Tim Congdon 4. The Misdirection of Keynesian Aggregates for Understanding Monetary and Cyclical Processes Richard M. Ebeling 5. Cycles and Slumps in an Overly Aggregated Theoretical Framework Roger W. Garrison 6. The Problems with Keynesianism: A View from Austrian Capital Theory Steven Horwitz 7. The Dangers of Keynesian Economics Steven Kates 8. The Problem of Keynesian Aggregation Arnold Kling 9. What’s Wrong with Keynesian Economists? Arthur B. Laffer 10. Capital, Saving and Employment George Reisman 11. What’s Wrong With Keynesian Economics? David Simpson 12. Move Over Keynes: Replacing Keynesianism with a Better Model Mark Skousen 13. The Conclusive Fault Line in Keynesian Economics Peter Smith Index

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Book Synopsis'It is a serious piece of scholarship. Integrating economic history, economic thought, patent-hoarding, venture capital and the changing global economy, Kingston asks if modern capitalism might be an internally inconsistent system. Like Schumpeter, he is concerned that creative innovation might be stagnating into institutional ossification. It is an interesting argument, well presented, cross-disciplinary and thought-provoking.'- David Reisman, University of Surrey, UK and Nanyang Technological University, Singapore Capitalism has been sustained by inherited moral values that are now all but exhausted. A unique combination of a new belief in individualism and a long tradition of property rights had traditionally ensured that self-interested action also produced public benefit. However, these rights, including the laws underwriting economic and financial innovation and parliamentary democracy, were gradually captured and shaped by those who could benefit most from them. This fascinating book shows that the outcome is a reduced ability to generate real wealth combined with exceptional inequality, as well as a worldwide breach of the vital trust between voters and their representatives. Capitalism's injuries are both self-inflicted and fatal. William Kingston uniquely deals with capitalism from a property rights standpoint, providing the first convincing explanation of economic cycles in terms of changes to these rights. The lucid exploration of the historical evolution of property includes a remarkable precursor of modern capitalism in medieval culture and pays particular attention to intellectual property. The book also calls attention to the harm that inaccurate measurement of economic activity can cause, both at the micro-level (auditing of corporations) and macro-level (the Kuznets GDP/GNP system). In conclusion, it argues that the exceptional levels of inequality today have been caused primarily by allowing financiers to escape from the laws that traditionally prevented them from 'generating money from nothing'. Challenging the orthodox thinking, this is an essential book for economists and political scientists in academia, the public sector and industry. It offers an imperative warning that capitalism's next crash is coming sooner rather than later.Trade Review'William Kingston is a prolific and thoughtful economic historian who has relied on such longstanding giants as Marx and Schumpeter, and new ones such as Minsky, to show how financial innovation has replaced technological innovation, and how this process is destroying the economic fabric of society. Kingston's deep understanding of the 'free-market economy' makes this book a must-read.' --(Jorge Niosi, Universite du Quebec a Montreal, Canada)'Kingston's history of the evolution of property rights, and on how property rights regimes influence and reflect the kind of economic activity people engage in, and how they regard economic activity, is interesting and provocative in its own right. Others have argued that capitalism seems to have lost much of the power to increase the productivity of economic activity that it once had, and the workings of modern financial systems are a good part of the problem. But no one else has tied these propositions closely to the evolution of property rights.' --(Richard R. Nelson, Columbia University)'This sweeping account of the rise and projected fall of capitalism is as original as it is gripping. Kingston locates the hinge that moves capitalism as the institutions governing property rights, and argues persuasively that the system is now undermining itself as innovation shifts from the technological to the financial domain.' --(John A. Mathews, Macquarie Graduate School of Management, Sydney)Table of ContentsContents: Preface 1. What Capitalism Was 2. Where Capitalism Came From 3. The Capture of Market Power 4. The Fatal Capture of Money 5. Could Anything Have Saved it? Epilogue: The Centre Could Not Hold Index

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Book SynopsisAcclaim for the first edition:'Free Market Economics is virtually a must read for serious economists . . . Highly recommended.'- Choice: Current Reviews for Academic Libraries'A refreshing theoretical counterattack to the established Keynesian world view that has left the West financially overpromised, disastrously broke, and vulnerable to crank ideas. Professor Kates has brilliantly resurrected Say's law of markets - Keynes's old nemesis - into a new modern framework that forms the foundation of a new sustainable economy.'- Mark Skousen, editor, Forecasts & Strategies and formerly of the Columbia Business School, US'Steven Kates has written an exciting new book on the basics of economics. He avoids the dry and unrealistic assumptions of most introductions to economics. He puts change, entrepreneurship, uncertainty, decentralized knowledge and spontaneous order at the center of his analysis. The reader will profit from this fresh approach far more than from an ordinary textbook. This is a treatment for the general reader that both respects and engages one's intelligence.'- Mario J. Rizzo, New York University, US 'Steve Kates, an academic with business experience, does away with the unrealistic abstractions that make economics inaccessible to general readers. This book is about real, enterprising people with whom we can identify, and about how ordinary economic life evolves in conditions of uncertainty. We learn why vacuous modelling only misleads us and why economic freedom and secure institutions are essential to achieving the good life.'- Wolfgang Kasper, University of New South Wales, AustraliaIn this thoroughly updated third edition of Free Market Economics, Steven Kates assesses economic principles based on classical economic theory. Rejecting mainstream Keynesian and neoclassical approaches even though they are thoroughly covered in the text, Kates instead looks at economics from the perspective of an entrepreneur making decisions in a world where the future is unknown, innovation is a continuous process and the future is being created before it can be understood. Key Features include: analysis derived from the theories of pre-Keynesian classical economists, as this is the only source available today that explains the classical pre-Keynesian theory of the business cycle a focus on the entrepreneur as the driving force in economic activity rather than on anonymous 'forces' as found in most economic theory today introduces a powerful though simplified model to explain the difference between modern theory of recession and classical theory of the business cycle great emphasis is placed on the consequences of decision making under uncertainty offers an introductory understanding, accessible to the non-specialist reader. The aim of this book is to redirect the attention of economists and policy makers towards the economic theories that prevailed in earlier times. Their problems were little different from ours but their way of understanding the operation of an economy and dealing with those problems was completely different. Free Market Economics, Third Edition will help students and general readers understand classical economic theory, written by someone who believes that this now-discarded approach to economic thought was superior to what is found in most of our textbooks today.Trade Review'This book presents the very embodiment of supply-side economics. At its very core is the entrepreneur trying to work out what to do in a world of deep uncertainty in which the future cannot be known. Crucially, the book is entirely un-Keynesian, restoring Say's Law to the centre of economic theory, with its focus on value-adding production as the source of demand. If you would like to understand how an economy actually works, this is one of the few places I know of where you can find out.' --Arthur B. Laffer, Laffer Associates, USTable of ContentsContents: Introduction 1. The axioms and underlying principles of a free market economy 2. The economics of the free market 3. Value added 4. Governments and the market 5. Factors of production, finance, innovation and the role of the entrepreneur 6. Supply and demand 7. Supply and demand: beyond equilibrium 8. Marginal analysis 9. Measuring the economy 10. An interlude on the history of economics 11. The Keynesian Revolution and Say’s Law 12. The basic Keynesian macroeconomic model 13. Aggregate demand and aggregate supply 14. The classical theory of the business cycle 15. Cyclical activity and governments 16. Savings and the financial system 17. Controlling inflation Index

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Book SynopsisThe search for alternatives to capitalism and the problem of comparative assessment of the performance of socialist and capitalist systems have inspired one of the richest and most remarkable episodes in the history of economic thought. By the mid 20th century an entire field had emerged, conceptualizing, theorizing, monitoring, and analyzing the largest and most consequential social and economic natural experiment in human history: Real-life Socialism. This research review focuses on the fundamental literature associated with the comparative study of socialist and capitalist systems. It features both a well-rounded inquiry of the modern history of economic thought, as well as a vibrant and critical disentanglement of the role of the economic system from the role of environment and policy decisions, as determinants of economic performance. This review will be an interesting and invaluable research resource for academics and students alike.Trade Review‘This exquisite anthology covers sixty years of conceptual and empirical scholarship on comparative economic systems, zeroing in on central plan economies. Paul Dragos Aligica and Peter J. Boettke have assembled both indispensable classic papers and innovative recent contributions. The volume encompasses several types of central plan economies, including the Soviet Union, Nazi Germany, Mao’s China, and Yugoslavia. Five distinct sections organize thirty-six articles into a logical sequence, enabling the volume to achieve simultaneously two objectives: provide a multifaceted, in-depth analysis of the subject and present a history of economic ideas and debates. An exhaustive introduction by the editors summarizes this history in a lively fashion.’Table of ContentsContents: Acknowledgements Introduction Paul Dragos Aligica and Peter J. Boettke PART I COMPARATIVE FRAMEWORKS AND APPROACHES 1. David Conn (1978), ‘Economic Theory and Comparative Economic Systems: A Partial Literature Survey’, Journal of Comparative Economics, 2 (4), December, 355–81 2. Avner Ben-Ner, John Michael Montias and Egon Neuberger (1993), ’Basic Issues in Organizations: A Comparative Perspective’, Journal of Comparative Economics, 17 (2), June, 207–42 3. William Duffy and Egon Neuberger (1972), ‘Toward a Decision-Theoretic Approach to the Study of Economic Systems’, Jahrbuch der Wirtschaft Osteuropas – Yearbook of East-European Economics, 3 (1), 67–85 4. Leonid Hurwicz (1979), ‘Socialism and Incentives: Developing a Framework’, Journal of Comparative Economics, 3 (3), September, 207–16 5. Raaj Kumar Sah and Joseph E. Stiglitz (1986), ‘The Architecture of Economic Systems: Hierarchies and Polyarchies’, American Economic Review, 76 (4), September, 716–27 6. Benjamin Ward (1988), ‘LEP: An Alternative Criterion for Socio-Economic Valuation’, Journal of Economic Issues, XXII (3), September, 763–80 PART II PROBLEMS OF MEASUREMENT AND ASSESSMENT 7. Robert W. Campbell (1959), ‘Problems of United States-Soviet Economic Comparisons’, in Comparisons of the United States and Soviet Economies: Papers Submitted by Panelists Appearing Before the Subcommittee on Economic Statistics: Part I, 86th Congress: 1st Session, Washington, DC, USA: United States Government Printing Office, 13–30 8. G. Warren Nutter (1958), ‘Industrial Growth in the Soviet Union’, American Economic Review: Papers and Proceedings, 48 (2), May, 398–411 9. Evsey D. Domar (1967), ‘An Index-Number Tournament’, Quarterly Journal of Economics, LXXXI (2), May, 169–88 10. Simon Kuznets (1962), ‘Inventive Activity: Problems of Definition and Measurement’, in Universities-National Bureau Committee for Economic Research and Committee on Economic Growth of the Social Science Research Council (eds), The Rate and Direction of Inventive Activity: Economic and Social Factors, Part I, Chapter 1, Princeton, NJ, USA: Princeton University Press, 19–51 11. Abram Bergson (1987), ‘Comparative Productivity: The USSR, Eastern Europe, and the West’, American Economic Review, 77 (3), June, 342–57 12. Abram Bergson (1992), ‘Communist Economic Efficiency Revisited’, American Economic Review: Papers and Proceedings, 82 (2), May, 27–30 13. Steven Rosefielde (2003), ‘The Riddle of Post-war Russian Economic Growth: Statistics Lied and Were Misconstrued’, Europe-Asia Studies, 55 (3), May, 469–81 PART III CASES, SYSTEMS, AND INTERPRETATIONS 14. Gregory Grossman (1963), ‘Notes for a Theory of the Command Economy’, Soviet Studies, XV (2), October, 101–23 15. Eugenia Belova and Paul Gregory (2002), ‘Dictator, Loyal, and Opportunistic Agents: The Soviet Archives on Creating the Soviet Economic System’, Public Choice, 113 (3–4), December, 265–86 16. Walter Eucken (1948), ‘On the Theory of the Centrally Administered Economy: An Analysis of the German Experiment: Part I’, trans. by T. W. Hutchison, Economica, 15 (58), May, 79–100 17. Walter Eucken (1948), ‘On the Theory of the Centrally Administered Economy: An Analysis of the German Experiment: Part II’, trans. by T. W. Hutchison, Economica, 15 (59), August, 173–93 18. Frederic L. Pryor (1988), ‘Corporatism as an Economic System: A Review Essay’, Journal of Comparative Economics, 12 (3), September, 317–44 19. Audrey Donnithorne (1972), ‘China’s Cellular Economy: Some Economic Trends Since the Cultural Revolution’, China Quarterly, 52, October, 605–19 20. Steven Rosefielde and Henry Latané (1980), ‘Decentralized Economic Control in the Soviet Union and Maoist China: One-Man Rule versus Collective Self-Management’, in Steven Rosefielde (ed.), World Communism at the Crossroads: Military Ascendancy, Political Economy, and Human Welfare, Chapter 12, Boston, MA, USA: Martinus Nijhoff Publishing, 273–304 21. Benjamin Ward (1958), ‘The Firm in Illyria: Market Syndicalism’, American Economic Review, 48 (4), September, 566–89 22. Jaroslav Vanek (1969), ‘Decentralization Under Workers’ Management: A Theoretical Appraisal’, American Economic Review, 59 (5), December, 1006–14 PART IV FACETS, DYNAMICS, AND STRUCTURAL CHANGE 23. János Kornai (1986), ‘The Soft Budget Constraint’, Kyklos, 39 (1), February, 3–30 24. Gregory Grossman (1981), ‘The “Second Economy” of the USSR’, in Morris Bornstein (ed.), The Soviet Economy: Continuity and Change, Chapter 4, Boulder, CO, USA: Westview Press, 71–93 25. Morris Bornstein (1978), ‘The Administration of the Soviet Price System’, Soviet Studies, XXX (4), October, 466–90 26. Joseph S. Berliner (1978), ‘Innovation and Central Economic Planning’, Il Politico, 43 (1), March, 47–61 27. Nicolas Spulber (1959), ‘The Soviet-Bloc Foreign Trade System’, Law and Contemporary Problems, State Trading: Part II, 24 (3), Summer, 420–34 28. Jan Tinbergen (1961), ‘Do Communist and Free Economies Show a Converging Pattern?’, Soviet Studies, XII (4), April, 333–41 29. Robert C. Stuart and Paul R. Gregory (1971), ‘The Convergence of Economic Systems: An Analysis of Structural and Institutional Characteristics’, Jahrbuch der Wirtschaft Osteuropas – Yearbook of East-European Economics, 2, 425–41 30. Frederic L. Pryor (1970), ‘Barriers to Market Socialism in Eastern Europe in the Mid 1960s’, Studies in Comparative Communism, 3 (2), April, 31–64 31. Peter Murrell and Mancur Olson (1991), ‘The Devolution of Centrally Planned Economies’, Journal of Comparative Economics, 15 (2), June, 239–65 PART V COMPARATIVE ECONOMIC SYSTEMS AND THE NEW COMPARATIVE ECONOMICS 32. Simeon Djankov, Edward Glaeser, Rafael La Porta, Florencio Lopez-de-Silanes and Andrei Shleifer (2003), ‘The New Comparative Economics’, Journal of Comparative Economics, 31 (4), December, 595–619 33. Peter J. Boettke, Christopher J. Coyne, Peter T. Leeson and Frederic Sautet (2005), ‘The New Comparative Political Economy’, Review of Austrian Economics, 18 (3–4), December, 281–304 34. Josef C. Brada (2009), ‘The New Comparative Economics versus the Old: Less Is More but Is It Enough?’, European Journal of Comparative Economics, 6 (1), 3–15 35. Bruno Dallago (2004), ‘Comparative Economic Systems and the New Comparative Economics’, European Journal of Comparative Economics, 1 (1), 59–86 36. J. Barkley Rosser Jr. and Marina V. Rosser (2008), ‘A Critique of the New Comparative Economics’, Review of Austrian Economics, 21 (1), March, 81–97 Index

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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

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Book SynopsisAfter more than four decades of real income stagnation, ever-increasing inequality and household financial distress, this book explores how the very fabric of our society is under threat. It argues that although capitalism is imperfect, it can be improved, and harnessing its forces of production to more suitable social relations of production is key to that improvement.Highlighting the concept of ‘social capitalism’ and ensuring that it is consistent with our underlying theoretical vision of how capitalism works, chapters address the need for an alternative theory of economic policy-making by combining elements of Marx, Keynes, and Schumpeter (MKS). Applying their emphasis on distributive conflicts, effective demand, and innovation, the MKS system provides an in-depth description of capitalist dynamics and how they reflect observed capitalist history. Based on this approach, Capitalism, Inclusive Growth, and Social Protection suggests that an unregulated capitalistic system is inherently unstable, generates social inequality and is ultimately unviable.This comprehensive book is an excellent resource for scholars concerned with alternatives to prevailing economics who wish to examine more intensively the current problems of capitalism. The analysis will also be of great value to policy makers and representatives of civil society.Trade Review‘When this book gets published we celebrate the tricentenary of the birth of Adam Smith, who in The Wealth of Nations famously wrote: “what improves the circumstances of the greater part [of society] can never be regarded as an inconvenience to the whole. No society can‘This book is a persuasive case for social capitalism as the only path to a sustainable future of liberal democracies. Fair labor markets, shared prosperity, and balanced power between social classes are key features of the solution that Krämer, Proaño, and Setterfield propose to correct the damage done by neoliberal capitalism.’ -- Codrina Rada, University of Utah, US‘Our world is buffeted by economic, financial and political shocks. In this important book, Krämer, Proaño and Setterfield ambitiously hazard an answer. The authors draw on classic works by Marx, Keynes and Schumpeter to help us understand the interaction of structural change and macroeconomic dynamics in the 21st century. -- From the foreword by Barry Eichengreen, University of California, Berkeley, USTable of ContentsContents: Foreword Preface and Acknowledgements General Introduction Part I The Point of Departure: The Marx-Keynes-Schumpeter (MKS) System 2 The MKS System, Part II Part II Unveiling the Fault Lines in Modern Capitalism: Systemic Crises in the Making 3 Inequality in the Distribution of Income and Wealth: Trends, Drivers and Impacts 4 Financialization 5 External Macroeconomic Imbalances: Causes and Consequences 6 Increasing Inequality, Financialization and Macroeconomic Instability: A Three Act Tragedy Part III Inclusive Growth and Social Protection: Towards Social Capitalism 8 Achieving Sustainable and Inclusive Growth 9 Conclusions and Outlook References Index

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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

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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

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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

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Book SynopsisPlatform Economics tackles head on the rhetoric surrounding the so-called “sharing economy”, which has muddied public debate and has contributed to a lack of policy and regulatory intervention. The book sheds light on the sharing economy debate by offering an in-depth analysis both of rhetoric employed by sharing economy actors, and by mapping key aspects of digital labour markets. The platform is discussed both as a source of innovation and growth and as a matter of policy concern over competition, tax collection, consumers’ protection, privacy, and algorithms transparency, and the future of work. The authors show that actors in the sharing economy have not only used the narratives describing the initial phase of the sharing movement to their advantage, but have also succeeded in enlisting diffuse interests as their allies. The authors’ research draws particular attention to the predicted advent of technological unemployment in conjunction with widespread concern over the robotisation of jobs. Advocating an inter-disciplinary approach in which economics, sociology, anthropology, legal studies, and rhetorical analysis converge, this text will prove invaluable to students, researchers and economists alike.Trade ReviewThe champions of the "sharing economy" tout two apparently contradictory rhetorics, say Condognone, Karatzofianni, and Matthews. One is of disruptive innovation typical of neo-liberal ideology; and the other is a positive normative discourse about grass-roots and bottom-up revival of community, trust, social capital, and the moral economy allegedly enacted by exchange between peers. This obfuscation has contributed to delays in or total lack of policy and regulatory intervention, they say, so that the platforms have grown into powerful economic and political players with no public or legal constraints. -- Annotation ©2019 * (protoview.com) *Table of ContentsIntroduction Chapter 1. Platform economics and the sharing economy: a primer Chapter 2. Rhetoric, reality, impacts and regulation in labour intermediation platforms Chapter 3. Digital labour markets in a broader perspective Chapter 4. Ideological production in digital intermediation platforms Chapter 5. Conclusion and agenda for the future

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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