Economic theory and philosophy Books
Oxford University Press Inc Grand Transitions How the Modern World Was Made
Book SynopsisTrade ReviewGrand Transitions shows Vaclav Smil truly to be Bringing It All Back Home * John Roy Porter, Natures Sciences Sociétés *Vaclav Smil is my favorite author. * Bill Gates, GatesNotes *His book roams impressively around the globe and across five centuries as it asks big questions and searches for big answers. . . .His five-pack of grand transitions encompasses population, agriculture and diets, energy, economy, and environment. . . . anyone who hasn't read about these subjects since graduation will be awestruck by the amount of research that has gone into these vaguely familiar stories. Smil pulls recent studies together, throws in a few of his own, offers interpretive twists, and fills his account with delicious nuggets of information. (This book actually got me in trouble at home, as I kept asking my family, "Did you know..." about some gem of an anecdote.) * Andre Schmid, Literary Review of Canada *No one writes about the great issues of our time with more rigor or erudition than Vaclav Smil. Grand Transitions is at once sweeping, sobering, and profoundly informative. * Elizabeth Kolbert, author of The Sixth Extinction, winner of the Pulitzer Prize *An expert portrait of spectacular technical and economic advances that many in the 21st century enjoy but which exclude large segments of the population and are creating problems that may or may not be solvable. Ingenious, insightful, and disturbing. * Kirkus *Underpinned by mesmerizing data and deep analysis, Grand Transitions provides a clear and compelling framework for thinking about the future of energy, the environment, and the economy. A feast for anyone interested in the future of energy. A must read. * Atul Arya, Chief Energy Strategist, IHS Markit *Grand Transitions is the epitome of excellence in integrative systemic scientific analysis, anchored in a magisterial exploration of the main five transitions of mankind since civilizations emerged. And it provides a healthy antidote to the wishful thinking so prevalent today. Decision makers and the public should educate themselves with this authoritative evaluation, which will shape their decisions on how to ensure a harmonious, sustainable future for all. * Didier Sornette, Professor of Entrepreneurial Risks and Finance, ETH Zurich *For a generation, polymath Vaclav Smil has expounded on the big patterns in energy, food, and other means through which humans have transformed their environment. In Grand Transitions he has zoomed out even further to paint a picture of how the pieces fit together and to explain how the modern world works. In elegant prose with relentless attention to fact and reality-rare these days-he has written a masterpiece that forces you to think, disagree, wonder, and grapple with the accomplishments and challenges of today's industrial society. * David G. Victor, Professor of International Relations, University of California, San Diego *In Grand Transitions, Vaclav Smil reminds us of the fundamental point that the economy cannot be untethered from nature. Technological ingenuity has loosened the links, but the outlook for economic gains--or losses--is inextricably tied to the dynamics of population change, and of food and energy production. * Diane Coyle, Bennett Professor of Public Policy, University of Cambridge *Investing requires quantification of impact. But Vaclav Smil convincingly challenges the increased reliance on applying mathematical modelling to single-frame narratives. He steadily illustrates why such approaches seldom provide useful enough insights, as they tend to ignore technical constraints and biospheric limits. * Philippe Rohner, Pictet Asset Management *Smil offers a sweeping account of the deep material forces that have shaped the modern world... He tells a remarkable story of the human capacity to innovate, build, and integrate societies across vast distances. * Foreign Affairs *Smil is a conjurer with numbers. In Grand Transitions, he works to show just how thoroughly this is now a planet of our making--and how rapidly the transformation is still happening. * Washington Post *Table of Contents1. Epochal Transitions 2. Populations 3. Agricultures and Diets 4. Energies 5. Economies 6. Environment 7. Outcomes and Outlooks
£26.59
Yale University Press The Marginal Revolutionaries
Book SynopsisTrade Review“A fair-minded, deeply researched account of how a school of thought developed and wielded influence . . . quite well done, and full of fascinating stories.”—Justin Fox, New York Times Book Review“A masterly history.”—George Melloan, Wall Street Journal“The book is a fair- minded, deeply researched account of how a school of thought developed and wielded influence”— Justin Fox, International New York Times“[A] book that no one interested in the interrelationships between Austrian economics and the renaissance of liberal thought can afford to disregard”—Hansjörg Klausinger, Contemporary Austrian Studies“Wasserman’s masterful book paints a much needed critical yet scholarly picture of the Austrian School...Unlike many of the accounts written by people personally connected to the School, he brings attention to these thinkers’ privileged backgrounds and lifestyles, their fundamentally elitist politics, and the important connections to wealthy benefactors with clear political agendas.”—Ola Innset, Erasmus Journal for Philosophy and Economics“Wasserman tells an original story of a real school of economic thought from its very beginnings to the present…tracing the constant interaction between individual thinkers and an intellectual community that has survived over time…The story as a whole is fascinating.”—Antonio Magliulo, The Journal of European Economic History“Likely to become a standard reference...The author is admirably even-handed in his assessments of both the adherents and critics of Austrianism.”—David Throsby, Times Literary Supplement“Shines in its treatment of the School as a sociological entity, and it demonstrates that social ties can overcome many intellectual differences...Makes a compelling case on sociological grounds for the inclusion of Friedrich Wieser, Hans Mayer, Joseph Schumpeter and Oskar Morgenstern in the School”—Erwin Dekker, European Journal of the History of Economic ThoughtWinner of the Joseph Spengler Best Book Prize, sponsored by the History of Economics Society “This is a vital book for our times. Janek Wasserman’s study is learned and accessible, demystifying and elegant; above all, it corrects popular misconceptions about the origins and legacies of Austrian economics.”—Jeremy Adelman, Princeton University“Over more than a hundred years, the Austrian School of Economics was born, emigrated, split, revived and transformed. Janek Wasserman has done the impossible, producing a readable guide to the whole story while shirking none of the school’s complexity. A serious achievement.”—Quinn Slobodian, author of Globalists: The End of Empire and the Birth of Neoliberalism“Janek Wasserman deftly traces the filiation of Austrian economic ideas from the café culture of pre-war Vienna to the online universe of the contemporary alt-right. The result is a stimulating history of economists such as Mises and Hayek, and their influence on our era. Well-written, compelling, and entirely accessible, this book deserves a broad readership.”—Robert Leonard, Université du Québec à Montréal“[ . . . ] Wasserman has succeeded in providing a rich and worthwhile overview of Austrian economics.”—D. Mitch, University of Maryland Baltimore County
£18.99
Princeton University Press Adaptive Markets
Book SynopsisTrade Review"Winner of the 2018 PROSE Award for Excellence in Social Sciences, Association of American Publishers""Winner of the 2018 PROSE Award for Business, Finance & Management, Association of American Publishers""Finalist for the 2017 TIAA Paul A. Samuelson Award, TIAA Institute""Shortlisted for the 2017 Financial Times and McKinsey Business Book of the Year Award""One of the CNBC 13 Best Business Books of 2017""One of Foreign Affairs Best of Books 2017 – Economic, Social, and Environment / Finance""One of The New York Times Deal Book “Business Books Worth Reading” 2017 (chosen by Andrew Sorkin)""One of Exame’s “9 books that will help you get rich in 2018”""One of MoneyWeek’s “Five of the best books of 2017” (chosen by Dr. Matthew Partridge)""One of The Wall Street Journal’s What Business Leaders Read in 2017""One of the Microsoft Best Business Books of 2017""One of Financial Times (FT.com) Best Books of 2017: Economics""One of Bloomberg’s Best Books of 2017, chosen by Vitor Constancio""One of Bloomberg’s Best Books of 2017, chosen by Robert Shiller""[Adaptive Markets] is very well written, striking a right balance between education and teaching."---Mathis Mörke, Markets and Portfolio Management"[Adaptive Markets] delivers an important contribution to the ongoing discussion about the EMH in a very entertaining way."---Christoph Kaserer, Journal of Economics
£17.09
Princeton University Press Unified Growth Theory
Book SynopsisPresents a unified theory of economic growth since the dawn of civilization. This title provides a comprehensive overview of the three phases of the development process. It analyzes the Malthusian theory and its empirical support. It examines theories of demographic transition and their empirical significance.Trade ReviewOne of Choice's Outstanding Academic Titles for 2011 "Galor is the founder of unified growth theory. The theory seeks to uncover the principal forces behind the world's transition from the subsistence livelihoods experienced by early antecessors to the exponential increases in living standards that came with the Industrial Revolution... This book is a must for anyone interested in economic growth."--Choice "Galor provides a mass of data and theory that may help to frame the role of education in creating economic sustainability."--Josephine Gatti, International Social Science Review "[T]he contribution to economic science provided by Oded Galor poses an intellectual challenge for more general macroeconomic models ... which still need to provide comprehensive and endogenous explanations regarding the radical changes that affected the world economy in the aftermath of the economic and financial crisis."--Gianfranco Di Vaio, Journal of European and Economic History "This volume must be highly recommended to anyone interested in economic growth and comparative development."--Christopher Bliss, European LegacyTable of ContentsPreface xv CHAPTER 1: Introduction 1 1.1 Toward a Unified Theory of Economic Growth 3 1.2 Origins of Global Disparity in Living Standards 6 1.2.1 Catalysts for the Engine of Transition from Stagnation to Growth 6 1.2.2 Persistence of Prehistorical Biogeographical Conditions 7 1.2.3 Convergence Clubs 8 CHAPTER 2: From Stagnation to Growth 9 2.1 The Malthusian Epoch 10 2.1.1 Stagnation of Income per Capita in the Long Run 11 2.1.2 Population Dynamism 12 2.1.3 Fertility and Mortality 14 2.1.4 Fluctuations in Income and Population 15 2.1.5 Technological Progress 16 2.1.6 Main Characteristics of the Epoch 17 2.2 The Post-Malthusian Regime 17 2.2.1 Take-off in Income per Capita 18 2.2.2 Spike in Population Growth 18 2.2.3 Fertility and Mortality 23 2.2.4 Industrialization and Urbanization 25 2.2.5 Globalization and the Pace of Industrialization 27 2.2.6 Central Features of the Regime 29 2.3 Industrialization and Human Capital Formation 30 2.3.1 Industrial Demand for Education 31 2.3.2 Land Concentration and Human Capital Formation 37 2.3.3 Land Reforms and Education Reforms 39 2.3.4 Political and Education Reforms 42 2.3.5 Human Capital Formation in Less Developed Economies 45 2.3.6 Main Insights 45 2.4 The Demographic Transition 46 2.4.1 Decline in Population Growth 46 2.4.2 Fertility Decline 49 2.4.3 Mortality Decline 51 2.4.4 Life Expectancy 52 2.4.5 Central Characteristics 54 2.5 The Modern Growth Regime 55 2.5.1 Rapid Industrialization and Human Capital Formation 55 2.5.2 Sustained Growth of Income per Capita 57 2.5.3 Divergence in Income and Population across the Globe 57 2.5.4 Insights for Comparative Development 64 2.6 Concluding Remarks 65 CHAPTER 3: The Malthusian Theory 67 3.1 The Basic Structure of the Model 68 3.1.1 Production 69 3.1.2 Preferences and Budget Constraints 69 3.1.3 Optimization 70 3.2 The Evolution of the Economy 70 3.2.1 Population Dynamics 70 3.2.2 The Time Path of Income per Worker 72 3.3 Testable Predictions 74 3.4 Empirical Framework 74 3.4.1 Empirical Strategy 74 3.4.2 The Data 77 3.4.3 The Neolithic Revolution and Technological Advancement 78 3.4.4 Basic Regression Model 79 3.5 Cross-Country Evidence 80 3.5.1 Population Density in 1500 CE 81 3.5.2 Population Density in Earlier Historical Periods 86 3.5.3 Income per Capita versus Population Density 92 3.5.4 Effect of Technological Sophistication 96 3.5.5 Robustness to Technology Diffusion and Geographical Features 103 3.5.6 Rejection of Alternative Theories 105 3.6 Concluding Remarks 108 3.7 Appendix 110 3.7.1 First-Stage Regressions 110 3.7.2 Variable Definitions and Sources 110 CHAPTER 4: Theories of the Demographic Transition 115 4.1 The Rise in Income per Capita 116 4.1.1 The Theory and Its Testable Predictions 116 4.1.2 The Evidence 118 4.2 The Decline in Infant and Child Mortality 120 4.2.1 The Central Hypothesis 120 4.2.2 Evidence 121 4.3 The Rise in Demand for Human Capital 123 4.3.1 The Theory 125 4.3.2 Evidence: Education and the Demographic Transition 127 4.3.3 Quantity-Quality Trade-off in the Modern Era 129 4.4 The Rise in Demand for Human Capital: Reinforcing Mechanisms 130 4.4.1 The Decline in Child Labor 131 4.4.2 The Rise in Life Expectancy 131 4.4.3 Evolution of Preferences for Offspring Quality 132 4.5 The Decline in the Gender Gap 132 4.5.1 The Theory and Its Testable Predictions 133 4.5.2 The Evidence 135 4.6 The Old-Age Security Hypothesis 136 4.7 Concluding Remarks 136 4.8 Appendix 138 4.8.1 Optimal Investment in Child Quality 138 4.8.2 Optimal Investment in Child Quantity 139 CHAPTER 5: Unified Growth Theory 140 5.1 The Fundamental Challenge 142 5.2 Incompatibility of Non-Unified Growth Theories 143 5.2.1 The Malthusian Theory 143 5.2.2 Theories of Modern Economic Growth 145 5.3 Central Building Blocks 146 5.3.1 The Malthusian Elements 147 5.3.2 Engines of Technological Progress 147 5.3.3 The Origin of Human Capital Formation 148 5.3.4 The Trigger of the Demographic Transition 148 5.4 The Basic Structure of the Model 149 5.4.1 Production of Final Output 149 5.4.2 Preferences and Budget Constraints 150 5.4.3 Production of Human Capital 151 5.4.4 Optimization 152 5.5 Evolution of Technology, Population, and Effective Resources 155 5.5.1 Technological Progress 155 5.5.2 Population 155 5.5.3 Effective Resources 156 5.6 The Dynamical System 156 5.6.1 The Dynamics of Technology and Education 157 5.6.2 Global Dynamics 161 5.7 From Malthusian Stagnation to Sustained Growth 164 5.8 Main Hypotheses 166 5.9 Complementary Mechanisms 170 5.9.1 Sources of Human Capital Formation 170 5.9.2 Triggers of the Demographic Transition 171 5.9.3 Engines of Technological Progress 172 5.9.4 The Transition from an Agricultural to an Industrial Economy 172 5.10 Calibrations of Unified Growth Theory 174 5.11 Concluding Remarks 177 5.12 Appendix: Optimal Investment in Child Quality 178 CHAPTER 6: Unified Growth Theory and Comparative Development 179 6.1 Country-Specific Characteristics and the Growth Process 182 6.1.1 Factors Contributing to Technological Progress 183 6.1.2 Reinforcing Elements in Human Capital Formation 185 6.1.3 The Dynamics of Technology and Education 187 6.2 Variation in Technological Progress and Comparative Development 189 6.3 Variation in Human Capital and Comparative Development 191 6.3.1 The Emergence of Human Capital--Promoting Institutions 193 6.3.2 Globalization and Divergence 198 6.4 Persistence of Deeply Rooted Biogeographical Factors 208 6.4.1 The Neolithic Revolution and Comparative Development 208 6.4.2 The Out-of-Africa Hypothesis and Comparative Development 217 6.5 Multiple Growth Regimes and Convergence Clubs 226 6.6 Concluding Remarks 229 CHAPTER 7: Human Evolution and the Process of Development 232 7.1 Natural Selection and the Origins of Economic Growth 233 7.2 Primary Ingredients 235 7.2.1 The Darwinian Elements 235 7.2.2 The Malthusian Components 237 7.2.3 Determinants of Technological Progress and Human Capital Formation 237 7.2.4 The Trigger of the Demographic Transition 238 7.3 The Basic Structure of the Model 238 7.3.1 Production of Final Output 239 7.3.2 Preferences and Budget Constraints 240 7.3.3 Production of Human Capital 241 7.3.4 Optimization 242 7.3.5 Distribution of Types and Human Capital Formation 246 7.3.6 Time Path of the Macroeconomic Variables 249 7.4 The Dynamical System 254 7.4.1 Conditional Dynamics of Technology and Education 254 7.4.2 Conditional Dynamics of Technology and Effective Resources 259 7.4.3 Conditional Steady-State Equilibria 260 7.4.4 Human Evolution and the Transition from Stagnation to Growth 261 7.5 Failed Take-off Attempts 265 7.6 Main Hypotheses and Their Empirical Assessment 266 7.7 Complementary Mechanisms 269 7.7.1 Evolution of Entrepreneurial Spirit and Economic Growth 270 7.7.2 Evolution of Life Expectancy and Economic Growth 273 7.8 Concluding Remarks 278 7.9 Appendix 279 7.9.1 Conditional Dynamics of Technology and Education 279 7.9.2 Conditional Dynamics of Technology and Effective Resources 280 CHAPTER 8: Concluding Remarks 285 References 289 Name Index 311 Subject Index 317
£62.40
Princeton University Press Economics in Two Lessons
Book SynopsisTrade Review"There is little doubt that Quiggin’s Economics in Two Lessons will be an instant classic and feature on university reading lists around the world. It should also be compulsory reading for policymakers and public commentators, who all too often lack a framework for thinking clearly about the costs and benefits of markets. The good news is that Quiggin has one—and he’s happy to share."---Richard Holden, Inside Story"This is a highly readable introduction to the intellectual framework of modern policy economics, with plenty of lively examples."---Diane Coyle, Enlightened Economist"His book would be a useful supplement to a principles of economics course, with the advantage of avoiding resort to any graphs or equations . . . . [It] provides an essential completion of the basic story . . . . It is essential reading for anyone interested in the practical side of economic policymaking."---Max B. Sawicky, Jacobin"The themes are complex, but the writing is clear, and the journey is rewarding." * BizEd *"Quiggin writes well and [this] book is full of useful erudite information."---Warwick Lightfoot, Financial World"Many economists consider ‘opp cost’ to be the single most important and fundamental concept in economics, and the discipline’s most useful contribution to the betterment of mankind. Indeed, that’s the view Professor John Quiggin, of the University of Queensland, takes in his book Economics in Two Lessons, which I recommend as the best book to introduce you to economics."---Ross Gittins, Sydney Morning Herald"Quiggin reckons with the incoherence of markets-only thinking in his masterful 2019 book Economics in Two Lessons, which explores the power, limitations and dangers of using markets to solve our problems in a thoughtful and clear way."---Cory Doctorow, Boing Boing
£21.25
HarperCollins Small Is Beautiful
Book Synopsis
£16.99
Cambridge University Press Progress through Regression
Book Synopsis
£24.99
Yale University Press Social Choice and Individual Values
Book SynopsisIntroduces Arrow's Impossibility Theorem and founded the field of social choice theory in economics and political science.Trade Review"Arrow's insightful comments on the issues underlying welfare economics are as fresh and relevant today as they were when they first appeared in 1951. They should be required reading for social scientists who concern themselves with public policy." (Douglass C. North, Washington University)"
£23.75
Yale University Press The Market System
Book SynopsisIn this work a political scientist seeks to offer a jargon-free introduction to the market system, for all readers with or without a background in economics. He assesses the character, rules, advantages and shortcomings of the institution co-ordinating modern economic and social life.
£14.99
Penguin Random House Grupo Editorial La falsa ilusión del éxito / Delusion of Success:
Book Synopsis
£14.10
£19.49
HarperCollins Publishers Inc Yellen
Book SynopsisTrade Review“A vivid portrait of an exceptional woman and a lively history of the economic and financial crises that helped make the treasury secretary and former Fed chair who she is today.” — Sylvia Nasar, #1 New York Times bestselling author of A Beautiful Mind: The Life of Mathematical Genius and Nobel Laureate John Nash “This book provides an in-depth portrait of the person Janet Yellen and teaches us how one can be effective while maintaining a moral compass in an often bitterly contentious and rapacious political landscape. It explores economic ideas and convictions, including hers and those of her husband George Akerlof and their son Robert Akerlof. Together they are an amazing family. They make this not just a biography, but an elucidation by example of the human side of our nation's economic experience." — Robert Shiller, Nobel Prize-winning economist and New York Times bestselling author of Irrational Exuberance “A captivating examination of the unusual intellectual partnership between Janet Yellen, one of the most consequential economic policy makers of the past quarter century, and her husband, George Akerlof, a path-breaking Nobel prize-winning economic thinker. Part biography, part history of ideas, the book provides a fascinating window into the ways thinking on economic policy has evolved in the last 25 years, as it charts how Janet Yellen navigated the economy through uncharted waters as it was being buffeted by a series of unprecedented shocks and boom-bust cycles. A must-read for anyone seeking to understand the current economic challenges we face.” — Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance: The Bankers Who Broke the World “My friend George Akerlof is certainly one of the most innovative thinkers in economics today, just as Janet Yellen is unbeatable as a leader of economic policymaking. Their extraordinary contributions have been individual, but their combined vision has helped America understand itself. I am fortunate also to be close with their son, the economist Robert Akerlof, a sparkling intellectual in his own right. This is an extraordinary book, full of illuminating anecdotes and perceptive insights. A true delight to read.” — Amartya Sen, Nobel Prize-winning economist, philosopher, and author of Home in the World “A fantastic biography … I loved the book--and I suspect that people who come to it with less background might get even more out of this insightful window into the interplay of policymaking and economic ideas … I strongly recommend.” — Jason Furman, Aetna Professor of the Practice of Economic Policy, Harvard Kennedy School “Hilsenrath’s new book on Yellen and Akerlof is a gem. It’s equal parts love story and economics book … Everyone should read it.” — Austen Goolsbee, Professor of Economics, University of Chicago, Booth School of Business. “This well-researched portrait of a talented woman unfolds into a slice of American economic history.” — Booklist (starred review) "A perceptive dual biography of Janet Yellen and her husband, Nobel laureate George Akerlof. Hilsenrath draws on personal interviews and abundant published material to clearly elucidate economic theories, recount Yellen’s challenges in steering the nation through economic upheaval, and convey the warmth of the family’s life. A lucid, informative portrait." — Kirkus Reviews "Meticulous...an oft-powerful study of a key player in American economics." — Publishers Weekly "Yellen...is an elegant and erudite depiction of [Yellen and Akerlof's] intellectual voyages in pursuit of the idea that markets can fail and that sensible government action can improve people’s lives." — The Economist
£21.25
Emerald Publishing Limited Silicon Valley North
Book SynopsisThe Silicon phenomenon was, is, and will be an extremely important phenomenon in the accelerated technological, scientific, and economic development of countries and regions. Silicon Valley North (SVN) is the high tech capital of Canada, the nations most developed and dynamic technology sector, which includes multiple clusters in telecommunications, software, photonics, and life sciences. It gave birth to many well-known companies such as Corel, JDS Uniphase, Mitel, Newbridge Networks, Nortel Networks, Digital Equipment of Canada, just to mention a few. A lot of literature describes Silicon Valley and Silicon Alley in the US, Silicon Islands in Asia, and so on. Despite the quite evident importance of Silicon Valley North for the regional, national, and international technological development (especially when Nortel Networks and JDS Uniphase became global leaders in their fields and expanded in explosive fashion), this phenomenon is far from being well understood.Because of this, a bookTable of ContentsIntroduction. Beginning of the Canadian Silicon Valley. Silicon Valley North: its recent past, current state, and future. Conclusions.
£93.09
Penguin Books Ltd The Wealth of Nations Books IIII
Book SynopsisThe classic economic treatise that insipired Thomas Piketty's Capital in the Twenty-First CenturyThe publication of The Wealth of Nations in 1776 coincided with America's Declaration of Independence, and with this landmark treatise on political economy, Adam Smith paved the way for modern capitalism, arguing that a truly free market - fired by competition yet guided as if by an 'invisible hand' to ensure justice and equality - was the engine of a fair and productive society. Books I - III of The Wealth of Nations examine the 'division of labour' as the key to economic growth, by ensuring the interdependence of individuals within society. They also cover the origins of money and the importance of wages, profit, rent and stocks, but the real sophistication of his analysis derives from the fact that it encompasses a combination of ethics, philosophy and history to create a vast panorama of society.This edition contains an analytical introductioTrade Review"Adam Smith's enormous authority resides, in the end, in the same property that we discover in Marx: not in any ideology, but in an effort to see to the bottom of things."--Robert L. Heilbroner
£11.69
Penguin Books Ltd The Wealth of Nations
Book SynopsisSmith''s THE WEALTH OF NATIONS was the first comprehensive treatment of political economy. Originally delivered in the form of lectures at Glasgow, the book''s publication in 1776 co-incided with America''s Declaration of Independence. These volumes include Smith''s assessment of the mercantile system, his advocacy of the freedom of commerce and industry, and his famous prophecy that America will be one of the foremost nations of the world.
£12.34
Penguin Books Ltd Capital
Book SynopsisThe forgotten second volume of Capital, Marx''s world-shaking analysis of economics, politics, and history, contains the vital discussion of commodity, the cornerstone to Marx''s theories.Table of ContentsCapital Volume 2 IntroductionTranslator's PrefacePreface (Frederick Engels)Preface to the Second Edition (Frederick Engels)Book II: The Process of Circulation of CapitalPart One: The Metamorphoses of Capital and their CircuitChapter 1: The Circuit of Money Capital1. First Stage. M-C2. Second Stage. The Function of Productive Capital3. Third Stage. C'-M'4. The Circuit as a WholeChapter 2: The Circuit of Productive Capital1. Simple Reproduction2. Accumulation and Reproduction on an Expanded Scale3. Accumulation of Money4. The Reserve FundChapter 3: The Circuit of Commodity CapitalChapter 4: The Three Figures of the Circuit(Natural Economy, Money Economy and Credit Economy)(The Matching of Demand and Supply)Chapter 5: Circulation TimeChapter 6: The Costs of Circulation1. Pure Circulation Costs(a) Buying and Selling Time(b) Book-keeping(c) Money2. Costs of Storage(a) Stock Formation in General(b) The Commodity Stock Proper3. Transport CostsPart Two: The Turnover of CapitalChapter 7: Turnover Time and Number of TurnoversChapter 8: Fixed Capital and Circulating Capital1. The Formal Distinctions2. Components, Replacement, Repairs and Accumulation of the Fixed CapitalChapter 9: The Overall Turnover of the Capital Advanced. Turnover CyclesChapter 10: Theories of Fixed and Circulating Capital. The Physiocrats and Adam SmithChapter 11: Theories of Fixed and Circulating Capital. RicardoChapter 12: The Working PeriodChapter 13: Production TimeChapter 14: Circulation TimeChapter 15: Effect of Circulation Time on the Magnitude of the Capital Advanced1. Working Period and Circulation Period Equal2. Working Period Longer than Circulation Period3. Working Period Shorter than Circulation Period4. Results5. Effect of Changes in PriceChapter 16: The Turnover of Variable Capital1. The Annual Rate of Surplus-Value2. The Turnover of an Individual Variable Capital3. The Turnover of Variable Capital Considered from the Social Point of ViewChapter 17: The Circulation of Surplus-Value1. Simple Reproduction2. Accumulation and Expanded ReproductionPart Three: The Reproduction and Circulation of the Total Social CapitalChapter 18: Introduction1. The Object of the Inquiry2. The Role of Money CapitalChapter 19: Former Presentations of the Subject1. The Physiocrats2. Adam Smith(a) Smith's General Perspectives(b) Smith's Resolution of Exchange-Value into v+s(c) The Constant Capital Component(d) Capital and Revenue in Adam Smith(e) Summary3. Later WritersChapter 20: Simple Reproduction1. Formulation of the Problem2. The Two Departments of Social Production3. Exchange Between the Two Departments: I against II4. Exchange Within Department II. Necessary Means of Subsistence and Luxury Items5. The Mediation of the Exchanges by Monetary Circulation6. The Constant Capital in Department I7. Variable Capital and Surplus-Value in the Two Departments8. The Constant Capital in Both Departments9. A Look Back at Adam Smith, Storch and Ramsay10. Capital and Revenue: Variable Capital and Wages11. Replacement of the Fixed Capital(a) Replacement of the Depreciation Component in the Money Form(b) Replacement of the Fixed Capital in Kind(c) Results12. The Reproduction of the Money Material13. Destutt de Tracy's Theory of ReproductionChapter 21: Accumulation and Reproduction on an Expanded Scale1. Accumulation in Department I(a) Hoard Formation(b) The Additional Constant Capital(c) The Additional Variable Capital2. Accumulation in Department II3. Schematic Presentation of Accumulation(a) First Example(b) Second Example(c) The Exchange of II in the Case of Accumulation4. Supplementary RemarksQuotations in Languages Other than English and GermanIndex of Authorities QuotedGeneral IndexNote on Previous Editions of the Works of Marx and EngelsChronology of Works by Marx and Engels
£16.14
Penguin Books Ltd Capital
Book SynopsisUnfinished at the time of Marx''s death in 1883 and first published with a preface by Frederick Engels in 1894, the third volume of Das Kapital strove to combine the theories and concepts of the two previous volumes in order to prove conclusively that capitalism is inherently unworkable as a permanent system for society. Here, Marx asserts controversially that - regardless of the efforts of individual capitalists, public authorities or even generous philanthropists - any market economy is inevitably doomed to endure a series of worsening, explosive crises leading finally to complete collapse. But healso offers an inspirational and compelling prediction: that the end of capitalism will culminate, ultimately, in the birth of a far greater form of society.Table of ContentsIntroduction by Ernest MandelPreface (Frederick Engels)BOOK III: THE PROCESS OF CAPITALIST PRODUCTION AS A WHOLEPART ONE: THE TRANSFORMATION OF SURPLUS-VALUE INTO PROFIT, AND OF THE RATE OF SURPLUS-VALUE INTO THE RATE OF PROFITChapter 1: Cost Price and ProfitChapter 2: The Rate of ProfitChapter 3: The Relationship between Rate of Profit and Rate of Surplus-ValueChapter 4: The Effect of the Turnover on the Rate of ProfitChapter 5: Economy in the Use of Constant Capital1. General Considerations2. Saving on the Conditions of Work at the Workers' Expense3. Economy in the Generation and Transmission of Power, and on Buildings4. Utilization of the Refuse of Production5. Economy through InventionsChapter 6: The Effect of Changes in Price 1. Fluctuations in the Price of Raw Material; Their Direct Effects on the Rate of Profit2. Revaluation and Devaluation of Capital; Release and Tying-Up of Capital3. General Illustration: The Cotton Crisis 1861-5Chapter 7: Supplementary Remarks PART TWO: THE TRANSFORMATION OF PROFIT INTO AVERAGE PROFITChapter 8: Different Compositions of Capital in Different Branches of Production, and the Resulting Variation in Rates of ProfitChapter 9: Formation of a General Rate of Profit (Average Rate of Profit), and Transformation of Commodity Values into Prices of ProductionChapter 10: The Equalization of the General Rate of Profit through Competition. Market Prices and Market Values. Surplus ProfitChapter 11: The Effects of General Fluctuations in Wages on the Prices of ProductionChapter 12: Supplementary Remarks1. The Causes of a Change in the Price of Production2. The Production Price of Commodities of Average Composition3. The Capitalist's Grounds for CompensationPART THREE: THE LAW OF THE TENDENTIAL FALL IN THE RATE OF PROFIT Chapter 13: The Law ItselfChapter 14: Counteracting Factors1. More Intense Exploitation of Labour2. Reduction of Wages below their Value3. Cheapening of the Elements of Constant Capital4. The Relative Surplus Population5. Foreign Trade6. The Increase in Share CapitalChapter 15: Development of the Law's Internal Contradictions 1. General Considerations2. The Conflict between the Extension of Production and Valorization3. Surplus Capital alongside Surplus Population4. Supplementary RemarksPART FOUR: THE TRANSFORMATION OF COMMODITY CAPITAL AND MONEY CAPITAL INTO COMMERCIAL CAPITAL AND MONEY-DEALING CAPITAL (MERCHANT'S CAPITAL) Chapter 16: Commercial CapitalChapter 17: Commercial ProfitChapter 18: The Turnover of Commercial Capital. PricesChapter 19. Money-Dealing CapitalChapter 20: Historical Material on Merchant's CapitalPART FIVE: THE DIVISION OF PROFIT INTO INTEREST AND PROFIT OF ENTERPRISEChapter 21: Interest-Bearing CapitalChapter 22: Division of Profit. Rate of Interest. "Natural" Rate of InterestChapter 23: Interest and Profit of EnterpriseChapter 24: Interest-Bearing Capital as the Superficial Form of the Capital RelationChapter 25: Credit and Fictitious CapitalChapter 26: Accumulation of Money Capital, and its Influence on the Rate of InterestChapter 27: The Role of Credit in Capitalist ProductionChapter 28: Means of Circulation and CApital. The Views of Tooke and FullartonChapter 29: Banking Capital's Component PartsChapter 30: Money Capital and Real Capital: IChapter 31: Money Capital and Real Capital: II (Continuation)1. Transformation of Money into Loan Capital2. Transformation of Capital or Revenue into Money that is Transformed into Loan CapitalChapter 32: Money Capital and Real Capital: III (Conclusion) Chapter 33: The Means of Circulation under the Credit SystemChapter 34: The Currency Principle and the English Bank Legislation of 1844Chapter 35: Precious Metal and Rate of Exchange1. The Movement of the Gold Reserve2. The Exchange RateChapter 36: Pre-Capitalist Relations PART SIX: THE TRANSFORMATION OF SURPLUS PROFIT INTO GROUND-RENTChapter 37: IntroductionChapter 38: Differential Rent in GeneralChapter 39: The First Form of Differential Rent (Differential Rent I)Chapter 40: The Second Form of Differential Rent (Differential Rent II)Chapter 41: Differential Rent II - First Case: Price of Production ConstantChapter 42: Differential Rent II - Second Case: Price of Production Falling1. With the Productivity of the Extra Capital Investment Remaining Constant2. A Falling Rate of Productivity for the Extra Capital3. A Rising Rate of Productivity for the Extra CapitalChapter 43: Differential Rent II - Third Case: Rising Price of Production. Results Chapter 44: Differential Rent Even on the Poorest Land CultivatedChapter 45: Absolute Ground-RentChapter 46: Rent of Buildings. Rent of Mines. Price of LandChapter 47: The Genesis of Capitalist Ground-Rent1. Introduction2. Labour Rent3. Rent in Kind4. Money Rent5. Share-Cropping and Small-Scale Peasant OwnershipPART SEVEN: THE REVENUES AND THEIR SOURCES Chapter 48: The Trinity FormulaChapter 49: On the Analysis of the Production ProcessChapter 50: The Illusion Created by CompetitionChapter 51: Relations of Distribution and Relations of ProductionChapter 52: ClassesSupplement and Addendum to Volume 3 of Capital (Frederick Engels) 1. Law of Value and Rate of Profit2. The Stock ExchangeQuotations in Languages Other than English and GermanIndex of Authorities QuotedGeneral IndexNote on Previous Editions of the Works of Marx and EngelsChronology of Works by Marx and Engels
£17.09
Penguin Books Ltd The Map and the Territory 2.0
Book SynopsisLike all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. How had our models so utterly failed us? Virtually every day, we make wagers on the future - but, even when we''re not driven by factors entirely beyond our conscious control, the maps by which we are steering are often out-of-date. The Map and the Territory is an important attempt to update our forecasting conceptual grid using twenty-first-century technologies, offering a lucid and empirical grounding in what we can know about economic forecasting and what we can''t.
£11.69
Penguin Books Ltd Making Sense of Chaos
Book SynopsisDoyne Farmer is the world's leading thinker on technological change. For decades he has focused on the question of how we can make sense of the data of today to see where the world is going tomorrow. This wonderful book applies these insights to economics, addressing the big global issues of environmental sustainability, and the well-being and prosperity of people around the world' Max Roser, Founder of Our World in DataWe live in an age of increasing complexity, where accelerating technology and global interconnection hold more promise and more peril than any other time in human history. As well as financial crises, issues around climate change, automation, growing inequality and polarization are all rooted in the economy, yet standard economic predictions fail us. Many books have been written about Doyne Farmer and his pioneering work in chaos and complexity theory. Making Sense of Chaos is the first in his own words, presenting a manifesto for doing economics better. In a tale of science and ideas, Farmer fuses his profound knowledge with stories from his life to explain how to harness a scientific revolution to address the economic conundrums facing society. Using big data and ever more powerful computers, we can for the first time apply complex systems science to economic activity, building realistic models of the global economy. The resulting simulations and the emergent behaviour we observe form the cornerstone of complexity economics. This new science, Farmer shows, will allow us to test ideas and make significantly better economic predictions and, ultimately, create a better world.
£10.44
Penguin Books Ltd The Great Divide
Book SynopsisWhy has inequality increased in the Western world - and what can we do about it? This title argues that inequality is a choice - the cumulative result of unjust policies and misguided priorities. It exposes the inequality that is afflicting America and other Western countries in thrall to neoliberalism.
£11.69
Penguin Books Ltd Good Economics for Hard Times
Book SynopsisTrade ReviewExcellent, important, disarmingly down to earth . . . they seek to shed much-needed light upon the distortions that bad economics bring to public debates while methodically deconstructing their false assumptions. * Observer *Not all economists wear ties and think like bankers. In their wonderfully refreshing book, Banerjee and Duflo delve into impressive areas of new research questioning conventional views about issues ranging from trade to top income taxation and mobility, and offer their own powerful vision of how we can grapple with them. A must-read. -- Thomas Piketty, author of Capital in the Twenty-First CenturyCompelling, useful, relevant ... Banerjee and Duflo use extensive data to zoom out and show us a wider view of these human dynamics -- Bill GatesExcellent ... Few have grappled as energetically with the complexity of real life as Esther Duflo and Abhijit Banerjee, or got their boots as dirty in the process ... Readers will be captivated * The Economist *A canard-slaying, unconventional take on economics ... invigorating ... a treasure trove of facts and findings about the biggest economic issues of the day * The Times *A magnificent achievement, and the perfect book for our time. Banerjee and Duflo brilliantly illuminate the largest issues of the day, including immigration, trade, climate change, and inequality. -- Cass R. Sunstein, author of How Change HappensBanerjee and Duflo are masters of this terrain . . . Their book is as stimulating as it gets
£10.44
Penguin Books Ltd The Econocracy
Book Synopsis''Our democracy has gone profoundly wrong. Economists have failed us. Politicians have lied to us. Things must change. This fearless new book will help make it happen'' Owen Jones''An explosive call for change ... packed with original research ... a case study for the question we should all be asking since the crash: how have the elites - in Westminster, in the City, in economics - stayed in charge?'' Aditya Chakrabortty, Guardian''Utterly compelling and sobering'' Ha-Joon ChangA century ago, the idea of ''the economy'' didn''t exist. Now economics is the supreme ideology of our time, with its own rules and language. The trouble is, most of us can''t speak it.This is damaging democracy. Dangerous agendas are hidden inside mathematical wrappers; controversial policies are presented as ''proven'' by the models of economic ''science''. Government is being turned over to a publicly unaccountable technocratic elite.
£9.99
Penguin Books Ltd Licence to be Bad
Book Synopsis''It is going to change the way in which we understand many modern debates about economics, politics, and society'' Ha Joon Chang, author of 23 Things They Don''t Tell You About CapitalismOver the past fifty years, the way we value what is ''good'' and ''right'' has changed dramatically. Behaviour that to our grandparents'' generation might have seemed stupid, harmful or simply wicked now seems rational, natural, woven into the very logic of things. And, asserts Jonathan Aldred in this revelatory new book, it''s economics that''s to blame.Licence to be Bad tells the story of how a group of economics theorists changed our world, and how a handful of key ideas, from free-riding to Nudge, seeped into our decision-making and, indeed, almost all aspects of our lives. Aldred reveals the extraordinary hold of economics on our morals and values. Economics has corrupted us. But if this hidden transformation is so recent, it can be reversed. LiceTrade Review[A] fascinating assault on modern economic orthodoxy... It is a call for us all to put aside our prejudices - some of which have been invented for us, decades ago - and ask, is this what we need? Is it even what we really want? -- Tim Stanley * Daily Telegraph *In this highly enlightening and hugely entertaining book, Jonathan Aldred guides us through the badlands of modern economics, revealing its pitfalls, quicksand, and quagmires. It is going to change the way in which we understand many modern debates about economics, politics, and society. -- Ha-Joon Chang, University of Cambridge, author of 23 Things They Don't Tell You About Capitalism and Economics: The User's GuideThis an important and timely book, the best I have recently read on the subject of 'whither economics?' -- Lord Robert SkidelskyAn entertaining, wide-ranging and often challenging argument. Aldred writes exceptionally well and there is much here to agree with ... It's impossible to do justice to the sheer range of issues tackled. -- Paul Johnson * Literary Review *Illuminating ... an unusual approach to critiquing the modern economic canon. -- Paul Collier * Times Literary Supplement *
£10.44
Penguin Books Ltd Adam Smith
Book Synopsis''A superb book'' Financial Times, Books of the YearAdam Smith is now widely regarded as ''the father of modern economics'' and the most influential economist who ever lived. But what he really thought, and what the implications of his ideas are, remain fiercely contested. Was he an eloquent advocate of capitalism and the freedom of the individual? Or a prime mover of ''market fundamentalism'' and an apologist for inequality and human selfishness? Or something else entirely? Jesse Norman''s brilliantly conceived ook gives us not just Smith''s economics, but his vastly wider intellectual project. Against the turbulent backdrop of Enlightenment Scotland, it lays out a succinct and highly engaging account of Smith''s life and times, reviews his work as a whole and traces his influence over the past two centuries.But this book is not only a biography. It dispels the myths and debunks the caricatures that have grown up around Adam Smith. It expTrade ReviewThis splendid book not only presents an excellent introduction to the life and ideas of Adam Smith, but also explains why - and how - Smith's insights can help us solve some of the most difficult social and economic problems of the contemporary world. Smith loved lucidity and relevance, and I think he would have been very happy with Norman's book. -- Amartya SenMasterly ... amid the superficiality and hysterics of modern British politics, an admirably thoughtful brain is lurking -- Edward Lucas * The Times *An important work of revisionist biography with a direct and important impact on the intellectual underpinnings of liberal free-market thought -- Oliver Letwin * Telegraph *Superb ... Norman succeeds in demonstrating the coherence and subtlety of Adam Smith's thought -- Martin Wolf * Financial Times (Books of the Year) *A remarkable and intensely readable book ... a rejoinder to those who fear that the intellectual has disappeared from politics -- John Kay * Financial Times *This book is well-written, well-argued and intensely thought-provoking, and it will rightly raise Smith's posthumous reputation -- Simon Heffer * Spectator *
£11.69
Penguin Books Ltd Mission Economy
Book Synopsis''One of the most influential economists in the world'' WiredEven before the Covid-19 pandemic in 2020, capitalism was stuck. It had no answers to a host of problems, including disease, inequality, the digital divide and, perhaps most blatantly, the environmental crisis. Taking her inspiration from the ''moonshot'' programmes which successfully co-ordinated public and private sectors on a massive scale, Mariana Mazzucato calls for the same level of boldness and experimentation to be applied to the biggest problems of our time. We must, she argues, rethink the capacities and role of government within the economy and society, and above all recover a sense of public purpose. Mission Economy, whose ideas are already being adopted around the world, offers a way out of our impasse to a more optimistic future.Trade ReviewThe case for a new approach is overwhelming and Mariana Mazzucato's project is ambitious ... Mission Economy injects the kind of vision, ambition and imagination so desperately missing from government today ... All those in favour of a better future - of prosperity that is broadly shared, first class public services to be enjoyed by all, and a solution to the climate crisis - should read this book. -- Tom Kibasi * The Guardian *One of the most agile thinkers on post-Brexit, post-Covid Britain. -- Alex Brummer * Daily Mail *a wider and more radical critique of modern capitalism ... Mazzucato is a fantastic example of a charismatic policy entrepreneur having a real impact ... Mazzucato rightly shows that the state can rise to grand challenges and set ambitious missions. -- David Willetts * Research Professional News *a bracing, optimistic read -- David MilibandA timely and optimistic vision ... Mazzucato presents her arguments so simply and clearly that they can seem obvious. In fact, they are revolutionary. Rethinking the role of government nationally and in the international economy - to put public purpose first and solve the problems that matter to people - are now the central questions for humanity -- Jayati Ghosh * Nature *In Mission Economy Mariana Mazzucato argues that societies ought to abjure tired ideologies and embrace the policy approach that put astronauts on the Moon. By setting grand missions for themselves, she writes, and deploying the power of the state in practical ways, they can become more prosperous and equitable ... Mazzucato is an Italian-born economist of a heterodox bent, whose work has long challenged standard economic thinking about the role of markets and government in generating innovation ... compelling ... arresting * Economist *'This book is by an influential thinker on an important topic at a time when trust in direction by governments has risen greatly relative to trust in decentralised competition within markets. Mazzucato recommends goal-oriented innovation as the way forward for the world.' -- Martin Wolf * Financial Times *Mission Economy proposes that we need to corral the state's energies into risky moonshots-just as JFK did with space travel. The mission then needs translating into a target whose achievement can be monitored. According to ex-Bank of England governor Mark Carney, the missing ingredient in economics is morality. * Prospect *
£10.44
Penguin Books Ltd Greed Is Dead
Book SynopsisTrade Reviewthis thoughtful polemic... is clear, punchy and... convincing... their breezy, no-nonsense guide is packed with excellent advice - a plea for expertise rather than feeling, for pragmatism rather than ideology and for listening rather than shouting. -- Christina Patterson * Sunday Times *Two of the most thoughtful economists writing today ... Collier and Kay are interesting on almost every subject they alight upon. -- Richard Reeves * Literary Review *Written by two of the UK's best economists, the book attacks the solipsistic individualism that permeates modern economics and far too much of modern society. The book's animating idea is that humans are first and foremost social animals. Our successes always depend on co-operation. The authors apply this concept to our economic, social and political institutions, which can, they argue, only be revived by being seen as self-sustaining communities. -- Martin Wolf * Financial Times Books of the Year *Their analysis is pitiless and compelling. This is a fine, incisive polemic. -- Clement Knox * Telegraph *In a provocative but thought-provoking and nuanced argument, Collier and Kay argue that our culture of hyper-centralisation is choking us. -- Books of the Year * Daily Telegraph *
£9.49
Penguin Books Ltd Hot Money
Book SynopsisIn twenty short books, Penguin brings you the classics of the environmental movement.In Hot Money Naomi Klein lays out the evidence that deregulated capitalism is waging war on the climate, and shows that, in order to stop the damage, we must change everything we think about how our world is run.Over the past 75 years, a new canon has emerged. As life on Earth has become irrevocably altered by humans, visionary thinkers around the world have raised their voices to defend the planet, and affirm our place at the heart of its restoration. Their words have endured through the decades, becoming the classics of a movement. Together, these books show the richness of environmental thought, and point the way to a fairer, saner, greener world.
£8.20
Penguin Books Ltd Edible Economics
Book SynopsisRADIO 4 BOOK OF THE WEEK Economic thinking - about globalisation, climate change, immigration, austerity, automation and much more - in its most digestible formFor decades, a single free market philosophy has dominated global economics. But this is bland and unhealthy - like British food in the 1980s, when bestselling author and economist Ha-Joon Chang first arrived in the UK from South Korea. Just as eating a wide range of cuisines contributes to a more interesting and balanced diet, so too is it essential we listen to a variety of economic perspectives.In Edible Economics, Chang makes challenging economic ideas more palatable by plating them alongside stories about food from around the world. He uses histories behind familiar food items - where they come from, how they are cooked and consumed, what they mean to different cultures - to explore economic theory. For Chang, chocolate is a life-long addiction, but more exciting are the insights it offers into post-industrial knowledge economies; and while okra makes Southern gumbo heart-meltingly smooth, it also speaks of capitalism''s entangled relationship with freedom and unfreedom. Explaining everything from the hidden cost of care work to the misleading language of the free market as he cooks dishes like anchovy and egg toast, Gambas al Ajillo and Korean dotori mook, Ha-Joon Chang serves up an easy-to-digest feast of bold ideas.Myth-busting, witty and thought-provoking, Edible Economics shows that getting to grips with the economy is like learning a recipe: if we understand it, we can change it - and, with it, the world.Trade ReviewExcellent... Chang has been working hard at providing an alternative to neoliberalism for two decades... Now he's reached the summit of the profession -- Dan Davies * Guardian *Chang has a rare gift for explaining complex ideas... whether he is dealing with food or economics, Chang is a delightful writer -- Bee Wilson * Sunday Times *The only book I've ever read that made me laugh, salivate and re-evaluate my thoughts about economics - all at the same time. A funny, profound and appetising volume -- Brian EnoA brilliant riposte to the myth that policymakers can survive on plain neoliberal fare. Edible Economics is a moveable feast of alternative economic ideas wrapped up in witty stories about food from around the world. Ha-Joon Chang proves yet again that he is one of the most exciting economists at work today -- Owen JonesA fascinating stew of food, history and economics -- Tim SpectorHa-Joon Chang has done it again. His prose delights and nourishes in equal measure. Somehow he manages to smuggle an urgent discussion of the relevance of economics to our daily lives into stories about food and cooking that are charming, funny and sweet (but never sour). In taking on the economic establishment, Chang is like a teddy bear savaging a rottweiler -- David PillingHa-Joon Chang blends culinary facts and economic expertise in this rollicking guide... Chang infuses the survey with food-related trivia, covers an impressive swatch of economics, and concludes with a call that readers scrutinize, think imaginatively, and be open-minded in their quest for economic knowledge * Publishers Weekly *
£10.44
Penguin Books Ltd Growth
Book SynopsisOver the past two centuries, economic growth has freed billions from poverty and made our lives far healthier and longer. As a result, the unfettered pursuit of growth defines economic life around the world. Yet this prosperity has come at an enormous price: deepening inequalities, destabilizing technologies, environmental destruction and climate change. Confusion reigns. For many, in our era of anaemic economic progress, the worry is slowing growth - in the UK, Europe, China and elsewhere. Others understandably claim, given its costs, that the only way forward is through 'degrowth', deliberating shrinking our economies. At this time of uncertainty about growth and its value, award-winning economist Daniel Susskind has written an essential reckoning. In a sweeping analysis full of historical insight, he argues that we cannot abandon growth but shows instead how we must redirect it, making it better reflect what we truly value. He explores what really drives growth, and offers origi
£9.49
Penguin Putnam Inc The Map and the Territory 2.0
Book SynopsisLike all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. No one with any meaningful role in economic decision making in the world saw beforehand the storm for what it was. How had our models so utterly failed us?To answer this question, Alan Greenspan embarked on a rigorous and far-reaching multiyear examination of how Homo economicus predicts the economic future, and how it can predict it better. Economic risk is a fact of life in every realm, from home to business to government at all levels. Whether we’re conscious of it or not, we make wagers on the future virtually every day, one way or another. Very often, however, we’re steering by out-of-date maps, when we’re not driven by factors entirely beyond our conscious control.The Map and the Territory is nothing less than an effort to update our forecasting conceptual grid.
£16.00
Oxford University Press Understanding Capitalism Competition Command and
Book SynopsisUnderstanding Capitalism: Competition, Command, and Change, Fourth Edition, is an introduction to economics that explains how capitalism works, why it sometimes fails, and how it undergoes and brings about change. It discusses both the conventional economic model and the role of power in economic interactions. Understanding Capitalism analyzes how profit-seeking is a source of competition among firms, conflict, and change.Trade ReviewA good contested exchange alternative to a traditional textbook. Ideal for use in an economics class with an interdisciplinary focus. * Andrew Farrant, Dickinson College *This is a versatile, comprehensive textbook that introduces undergraduate students to the principles of political economy. In contrast to conventional textbooks, it develops analytical tools for understanding capitalism that are not celebratory of capitalism. Those tools are not presented in isolation, but are integrated with the traditional topics and principles of microeconomics and macroeconomics. * Dr. Jared Ragusett, Central Connecticut State University *Understanding Capitalism is an (advanced) introductory to intermediate level textbook that seeks to explain the economic behavior of individuals, firms and the government in the context of capitalism as a dynamic economic system. * James A. Polito, Marian University *When students have been asked to rate the text on a 1 (low) to 5 (high) basis the average has been between 4 and 4.5…The technical level of the text does not seem to be an issue. In fact students remark that it is refreshingly readable in comparison with other economics texts. * Ed Ford, University of South Florida *Understanding Capitalism is a great introduction to political economy and an excellent alternative to standard texts for introducing students to economics in general. The text's framework and analysis help students develop a critical perspective on the economic and social world around them, like no other textbook on the market does. * Jonathan Cogliano, Dickinson College *Table of ContentsPART 1: POLITICAL ECONOMY CHAPTER 1: Capitalism Shakes the World The Permanent Technological Revolution Which Came First: Technology or Capitalism? The Enrichment of Material Life Growing Inequality The Population Explosion and the Growth of Cities The Changing Nature of Work The Transformation of the Family Threats to the Ecosystem The Effects of Climate Change Contamination New Roles for Government Globalization Conclusion CHAPTER 2: People, Preferences, and Society Constraints, Preferences, and Beliefs "Economic Man" Reconsidered Human Nature and Cultural Differences The Economy Produces People Conclusion: The Cooperative Species CHAPTER 3: A Three-Dimensional Approach to Economics Economic Systems and Capitalism Three-Dimensional Economics Competition Command Change Neoclassical Economics Values in Political Economy Efficiency Fairness Democracy Balancing efficiency, fairness, and democracy Conclusion CHAPTER 4: The Surplus Product: Conflict and Change Economic Interdependence, Production, and Reproduction Production Links Between Production and Reproduction A Labor Process Example: Making Pancakes The Surplus Product A Model of Production and Reproduction Who Gets the Surplus? Enlarging the Surplus Application of Model to Labor The Surplus Product and Change Conclusion CHAPTER 5: Capitalism as an Economic System Class and Class Relationships Classes and Economic Systems Slavery Feudalism Distinctions among Economic Systems Capitalism Commodities Privately Owned Capital Goods Wage Labor Capitalism, the Surplus Product, and Profits Conclusion CHAPTER 6: Government and the Economy Rules of the Game: Government and the Capitalist Economy The Emergence of Modern Legal Forms of Corporate Business From Competition to Monopoly From National to Transnational Democratic Government as Collective Provision for the General Welfare Government and the Distribution of Income, Wealth, and Welfare in the 19th Century Contention between Capital and Labor over Rules Voter turnout in the U.S. and around the world Democracy in the 20th Century Conclusion CHAPTER 7: U.S. Capitalism: Accumulation and Change Accumulation as a Source of Change The Accumulation of Process Competition for Profits Social Structures of Accumulation Changing Strategies for Profit-Making Consolidation and Decay of an SSA The Stages of American Capitalism in the United States Competitive capitalism (1860s-1898) Competitive capitalism (1860s-1898) Corporate capitalism (1898-1939) Regulated capitalism (1939-1991) Transnational capitalism (1991- ) U.S. Capitalism: Labor Organizing and Labor Markets The Rise and Fall of Labor Unions Segmented labor markets U.S. Capitalism Today is Transnational Immigration Shifts in what U.S. Labor Produces Fragmenting Global Production Rules for the Global Economy Tax Motives for TNCs to Go Global Corporate Stock Buybacks and Falling Productive Investment Conclusion PART 2: MICROECONOMICS CHAPTER 8: Supply and Demand: How Markets Work The Nature of Markets Demand and Supply Demand Supply Demand and Supply Interacting Shifts in Demand or Supply Conclusion CHAPTER 9: Competition and Coordination: The Invisible Hand Adam Smith and Laissez-Faire Economics Coordination Coordination by Rules and by Command The Limits of Coordination by Command The Invisible Hand The Invisible Hand in Action Problems with the Invisible Hand Market Failure Negative externalities as market failures Positive externalities as market failures Monopoly as a market failure Coordination Failure The Prisoner's Dilemma and the Benefits of Cooperation The Tragedy of the Common Conclusion CHAPTER 10: Capitalist Production and Profits What Are Profits? Profits from a Production Process Calculating Profit and Other Property Incomes in the Whole Economy Profit in a Grain-Growing Capitalist Economy Calculating the Rate of Profit The Corporate Profit Rate in the U.S. Corporations and Other Businesses: Who Gets the Profit or Bears the Loss? Corporations Determinants of Total Profit and the Profit Rate Example: The Good Cod Fishing Company Profit per Unit of Output Conflict Over the Profit Rate Intermediate Inputs per Unit of Output as Profit Rate Determinants Unit Labor Cost as a Profit Rate Determinant Understanding the Profit Rate Conclusion CHAPTER 11: Competition and Concentration Competition for Profits The Forms of Competition Price Competition Price as a markup over cost Economies of scale and price competition Other advantages of large size Capacity utilization Breakthroughs Monopoly Power Investing to Compete The Dynamics of Competition Toward Equal Profit Rates? Toward Economic Concentration? Large Size and Monopoly Power Trends in Concentration Antitrust Enforcement Conclusion CHAPTER 12: Wages and Work Work, Sloth, and Social Organization The Capitalist Firm as a Command Economy The Conflict between Workers and Employers Labor Discipline: Carrots and Sticks The Labor Market, the Wage, and the Intensity of Labor Cost of Job Loss Avoiding the Cost of Job Loss Additional Implications of the Labor Extraction Curve Conclusion CHAPTER 13: Technology, Control, and Conflict in the Workplace The Social Organization of the Workplace Simple Control Technical Control Bureaucratic Control Technology and the Labor Process Conflict in the Workplace Technical Change and Workplace Conflict Unions Discrimination in the Workplace Profitability Versus Efficiency Markets and Hierarchies Democratic Firms Conclusion PART 3: MACROECONOMICS CHAPTER 14: The Mosaic of Inequality Well-Being and Inequality Influences on Well-being and the Economy Measuring Living Standards and Inequality Growing Inequality Wealth Inequality Unequal Chances Race and Inequality Discrimination in Hiring Problem of Differential Pay Women's Work, Women's Wages Conclusion: Explaining the Mosaic of Inequality CHAPTER 15: Progress and Poverty on a World Scale Poverty and Progress Productivity and Income Vicious Circles of Low Productivity Intellectual Property Rights Other Government Interventions to Promote Development Requisites for Economic Development Eight Essential Conditions Other Factors in Development Foreign Investment and Development Investment Decisions by Transnational Corporations Transnational Investment and Tax Havens The High Cost of Low-Priced Clothing Conclusion CHAPTER 16: Aggregate Demand, Employment, and Unemployment Counting the Unemployed What Determines Employment and Output? Aggregate Supply and Aggregate Demand Measuring Total Output Terms for Measuring the Macroeconomy Measuring Aggregate Supply and Aggregate Demand A Basic Macroeconomic Model Unemployment and Government Fiscal Policy Effects of Deficit Spending on Employment Multiplier Effect of Deficit Spending The Business Cycle and the Built-in Stabilizers Conscious Policy Changes Automatic Built-in Stabilizers Investment, Aggregate Demand, and Monetary Policy Wages, Aggregate Demand, and Unemployment When is an Employment Situation Wage-Led? Implications for Economic Policy Conclusion CHAPTER 17: The Dilemmas of Macroeconomic Policy The High-Employment Profit Squeeze The High Employment Wage Push The Materials Cost Push The Profit Squeeze Exports, Imports, and Aggregate Demand The Demand for Exports and Imports The Foreign Exchange Rate International Trade and Macroeconomic Policy Promoting Net Exports Competing in Global Markets Monetary and Fiscal Policy at Odds What Determines the Interest Rate? Borrowing and the Exchange Rate The Conflict between Monetary and Fiscal Policy Institutions for Achieving Full Employment Institutional Obstacles to Full Employment Institutions for Achieving Full Employment Conclusion CHAPTER 18: Financial and Economic Crisis The Great Recession and the Subprime Crisis Understanding the Great Recession Why to Buy a Home Home Prices Start to Rise How to Buy a Home Securitization of Mortgages Refinancing Deregulation Liars' Loans Collateral Damage Derivatives of Other Kinds Bailouts and Buyouts Unemployment and Poverty Lessons from the History of Economic Crises Nonfinancial causes of crisis: over-investment, under-consumption Underconsumption as a cause of stagnation or crisis Asset markets differ from goods markets Why are asset markets prone to price bubbles? Feedback Loops Reflexivity Misinformation Deregulation and financial fragility Large firms exacerbate the problem Weakening the social safety net Regulation in a capitalist economy Regulating the financial sector The Dodd-Frank Act Inequality, concentration and crisis Conclusion CHAPTER 19: Government and the Economy in Transnational Capitalism More Spending, Less Health Government in the U.S.: Too Big? Government Spending: Comparing the U.S. with Other Countries Old age pensions Influencing the Rules Taxation Rules that Affect Business Costs and Profits Contracting Out Government Services Government Contracting: Profits and the Public Interest Decline in Competitive Bidding for Government Contracts Government Contracting for Private Prison Services Laws and Norms on Sentencing Rethinking Private Prisons and Mass Incarceration Selling to Government, Maximizing Profit Medical services in Private Prisons Changing the Rules Feedback Loops in Taxing Transnational Corporations Conflict Over Rules Proposals for Alternative Rules Democracy and Inequality Feedback Loops Between Inequality and Power Supranational rules and rule changes TNC Power over Foreign Government Decisions Conflict Over Rules Proposals for Alternative Rules Capitalism and Inequality Democracy and Inequality Conclusion List of Variables Sources of Economic Information Glossary Index
£112.09
Oxford University Press InputOutput Economics
Book SynopsisThe only comprehensive introduction which Leontief has written to his model of Input-Output Economics, for which he was awarded the Nobel Prize in Economic Science in 1972. Many of the chapters have already appeared as articles in journals, but Leontief''s writings have a range and consistency that gives this collection a sense of coherence.The book begin with non-technical articles on the theory of Input-Output Economics and progresses to more technical essays, and then to specific applications of the theory. This edition has been thoroughly revised, at least one third of the material being new.
£61.20
Oxford University Press, USA Economics and the Philosophy of Science
Book SynopsisThis is a paper edition of a book published in 1991. The author explores issues in the philosophy of science that relate to the methodology of economics.Trade Reviewimportant book ... providing economists, social scientists, and historians with the necessary background to discuss methodological matters with authority * University Press Book News *
£45.90
Oxford University Press, USA Dynamic Economics Optimization by the Lagrange Method
Book SynopsisThis work provides a unified and simple treatment of dynamic economics using dynamic optimization as the main theme, and the method of Lagrange multipliers to solve dynamic economic problems. The author presents the optimization framework for dynamic economics in order that readers can understand the approach and use it as they see fit. Instead of using dynamic programming, the author chooses instead to use the method of Lagrange multipliers in the analysis of dynamic optimization because it is easier and more efficient than dynamic programming, and allows readers to understand the substance of dynamic economics better. The author treats a number of topics in economics, including economic growth, macroeconomics, microeconomics, finance and dynamic games. The book also teaches by examples, using concepts to solve simple problems; it then moves to general propositions.Trade ReviewChow's book is significant. Chow's book is clear and well written, and covers an enormous range of applications of dynamic optimisation. For a postgraduate student or professional economist who is convinced by Chow's argument about the superiority of the Lagrange multiplier method and wants to use it, his book would undoubtedly be the best buy. - Paul Oslington. Economic Record. September 1998.
£103.50
Oxford University Press, USA Free Markets and Social Justice
Book SynopsisIn this title, Sunstein presents a wide-ranging analysis of free markets and their limits, and discussion of law and economics as a field. He explores "free markets" and social justice in three main parts. The book raises a number of questions about economic analysis of law in its conventional form.Trade Review"This is an excellent book. Sunstein is one of the leading legal scholars of his generation and this is an extremely timely subject, particularly in this era of regulatory embattlement."--Carol Rose, Yale Law School "This is a thought-provoking and important contribution to current public policy debate. Highly recommended for libraries at all levels."--Choice "Sunstein's stature among legal scholars is tremendous; his previous books have reflected an admixture of pathbreaking, provocative scholarship on many key law and policy debates today. Free Markets and Social Justice represents a valuable and important contribution to Sunstein's impressive ouevre."--Daniel B. Rodriguez, University of California School of Law, Berkeley "Sunstein captures again and again in this provocative and insightful book the ways in which context and the nature of our humanity shape preferences, and so need to be accounted for (as markets cannot do) in a political system that seeks to be just. Fortunately for us, his luminescent career has developed at the University of Chicago, in the midst of colleagues whom, as he puts it, could TRY to teach him something about economics, but more importantly provoke and help him to hone the skeptical responses that have so consistently animated his influential scholarship. This collection of essays, revised and shaped to persuasive unity, will be enormously helpful to all who wish to explore the uses and abuses of market reasoning in the political and legal sphere."--Peter L. Strauss, Columbia University "Sunstein is a man of many ideas, and this book is a splendid introduction to them."--Bruce Ackerman, Yale Law School "Sunstein draws on his profound understanding of both economic theory and cognitive psychology to provide fresh insights into a variety of public policy issues."--Greg Saltzman, Albion College "This is an excellent book. Sunstein is one of the leading legal scholars of his generation and this is an extremely timely subject, particularly in this era of regulatory embattlement."--Carol Rose, Yale Law School "This is a thought-provoking and important contribution to current public policy debate. Highly recommended for libraries at all levels."--Choice "Sunstein's stature among legal scholars is tremendous; his previous books have reflected an admixture of pathbreaking, provocative scholarship on many key law and policy debates today. Free Markets and Social Justice represents a valuable and important contribution to Sunstein's impressive ouevre."--Daniel B. Rodriguez, University of California School of Law, Berkeley "Sunstein captures again and again in this provocative and insightful book the ways in which context and the nature of our humanity shape preferences, and so need to be accounted for (as markets cannot do) in a political system that seeks to be just. Fortunately for us, his luminescent career has developed at the University of Chicago, in the midst of colleagues whom, as he puts it, could TRY to teach him something about economics, but more importantly provoke and help him to hone the skeptical responses that have so consistently animated his influential scholarship. This collection of essays, revised and shaped to persuasive unity, will be enormously helpful to all who wish to explore the uses and abuses of market reasoning in the political and legal sphere."--Peter L. Strauss, Columbia University "Sunstein is a man of many ideas, and this book is a splendid introduction to them."--Bruce Ackerman, Yale Law School "Sunstein successfully and eloquently lays out weighty arguments without making them seem ponderous."--Booklist "...coherent and pertinent.."--The Law and Politics Book Review "It is...a very clean and exquisitely written catalogue of the insights."--Journal of Economic Literature "This is an excellent overview of law and several public policy areas such as health, environment, information, and technology....the analysis of economics of law is well contrasted with constitutionalism to analyze "new public management" policies."--Brad Chilton, University of Toledo
£32.39
Oxford University Press Inc Growth Theory
Book SynopsisIn the preface to the first edition of Growth Theory (copyright 1970), the author writes: I have tried to give some feeling for the scope of aggregate theory of growth, a notion of technical details, and some idea of the directions in which future research is likely to go. About four years ago, the OUP NY economics editor suggested to Professor Solow that he bring this book up to date, because of the large amount of recent literature, often referred to as the new growth theory, or more technically as endogenous growth theory. This second edition of Growth Theory, which grew out of that conversation, begins with the author''s Nobel Prize Lecture Growth Theory and After (1987) followed by the original six chapters of the first edition. The first edition appeared in 1970; the author maintains that basic growth theory is still best summarized in these chapters, using what is often classified as exogenous growth theory. In the 70s, which happened to coincide witha worldwide productivity slTable of ContentsNobel Lecture, December 8, 1987: Growth Theory and After ; 1. Characteristics of Steady States ; 2. A Variable Capital/Output Ratio ; 3. A Model without Direct Substitution ; 4. A Model with Two Assets ; 5. Economic Policy in a Growth Model ; 6. Aspects of Economic Policy ; Intermezzo ; 7. The Standard Model Once More ; 8. Human Capital: The Lucas Model ; 9. Endogenous Technology: The Romer Model ; 10. New Consumer Goods: Grossman and Helpman ; 11. Schumpeterian Ideas: Aghion and Howitt ; 12. Lessons and Suggestions for Aggregative Growth Theory ; Bibliography
£63.74
Oxford University Press The Mechanisms of Governance
Book SynopsisThis book brings together in one place the work of one of our most respected economic theorists, on a field which he has played a large part in originating: the New Institutional Economics. Transaction cost economics, which studies the governance of contractual relations, is the branch of the New Institutional Economics with which Oliver Williamson is especially associated.Transaction cost economics takes issue with one of the fundamental building blocks in microeconomics: the theory of the firm. Whereas orthodox economics describes the firm in technological terms, as a production function, transaction cost economics describes the firm in organizational terms, as a governance structure. Alternative feasible forms of organization--firms, markets, hybrids, bureaus--are examined comparatively. The analytical action resides in the details of transactions and the mechanisms of governance.Transaction cost economics has had a pervasive influence on current economic thought about how and why iTrade Review"The Mechanisms of Governance is sure to be of interest to all who study economics, organization, management, and law. Moreover, it contains new and useful insights for any manager who wants to stay on the leading edge of economic theory."--Cal Business"...a work of scholarship written for posterity by one of the leading social scientists of our time. [It] should achieve the status of a classsic text quickly.... [Williamson] provides a conceptual framework simple enough to be used and yet exact and complex enough to accommodate continuing insights into the workings of organizations."--Academy of Management Review"Even those who have read most of it could benefit from reading it again as a whole. Williamson's accomplishments are many. He is preeminent in his field. One could almost say that he is the field."--Journal of Economic Issues"The Mechanisms of Governance is...a valuable summing up of both an especially influential body of work and the career of a great economist."--Business History ReviewTable of ContentsPrologue ; PART I: OVERVIEW ; 2. Chester Barnard and the Incipient Science of Organization ; 3. Transaction Cost Economics ; PART II: CONCEPTS AND APPLICATIONS ; 4. Comparative Economic Organization: The Analysis of Discrete Strucutural Alternatives ; 5. Credible Commitments: Using Hostages to Support Exchange ; 6. Economic Institutions: Spontaneous and Intentional Governance ; 7. Corporate Finance and Corporate Governance ; 8. The Politics and Economics of Redistribution and Inefficiency ; PART III: ORGANIZATIONS ; 9. Transaction Cost Economics and Organization Theory ; 10. Calculativeness, Trust, and Economic Organization ; PART IV: PUBLIC POLICY ; 11. Delimiting Antitrust ; 12. Strategizing, Economizing, and Economic Organization ; 13. The Institutions and Governance of Economic Development and Reform ; PART V: CONTROVERSY AND PERSPECTIVES ; 14. Transaction Cost Economics Meets Posnerian Law and Economics ; 15. Transaction Cost Economics and the Evolving Science of Organization ; Glossary
£39.09
Oxford University Press Inc Introductory Mathematical Economics
Book SynopsisProviding an overview of computational mathematics and a series of key economics problems using "higher mathematics", this book presents a mix of classical and contemporary economic theory. It also covers the problems of uncertainty, continuous-time dynamics, comparative statistics, and the applications of optimization methods to economics.Table of Contents0. Review of Mathematics ; 1. Economic Applications of One-Variable Calculus ; 2. Economic Applications of Multivariate Calculus ; COMPARATIVE STATICS 1: ONE AND TWO VARIABLES WITH AND WITHOUT OPTIMIZATION ; 4. Integration, Time and Uncertainty in Economics ; 5. Introduction to Continuous-Time Dynamics in One and Two Dimensions ; 6. Matrices and Economic Theory ; 7. Comparative Statics 2: n Variables with and without Optimization ; 8. Comparative Statics 3: Optimization under Constraint ; 9. Inequality Constraints in Optimization Theory
£160.92
Oxford University Press Justice and the Social Contract
Book SynopsisSamuel Freeman was a student of the influential philosopher John Rawls, he has edited numerous books dedicated to Rawls'' work and is arguably Rawls'' foremost interpreter. This volume collects new and previously published articles by Freeman on Rawls. Among other things, Freeman places Rawls within historical context in the social contract tradition, and thoughtfully addresses criticisms of this position. Not only is Freeman a leading authority on Rawls, but he is an excellent thinker in his own right, and these articles will be useful to a wide range of scholars interested in Rawls and the expanse of his influence.Trade ReviewHighly recommended. * D.H. Rice, CHOICE *Table of ContentsPART ONE: A THEORY OF JUSTICE ; PART TWO: POLITICAL LIBERALISM ; PART THREE: THE LAW OF PEOPLES
£30.59
Oxford University Press Addressing Tipping Points for a Precarious Future
Book SynopsisThis is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at British Academy Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Tipping points are zones or thresholds of profound changes in natural or social conditions with very considerable and largely unforecastable consequences. Tipping points may be dangerous for societies and economies, especially if the prevailing governing arrangements are not designed either to anticipate them or adapt to their arrival. Tipping points can also be transformational of cultures and behaviours so that societies can learn to adapt and to alter their outlooks and mores in favour of accommodating to more sustainable ways of living.This volume examines scientific, economic and social analyses of tipping points, and the spiritual and creative approaches to identifying and anticipating them. The authors focus on climate change, ice melt, tropical fTable of Contents1. Tipping points and critical thresholds: metaphors and systemic change ; 2. Earth system tipping points ; 3. The culture dimensions: editorial introduction ; 4. Food security, biodiversity and degradation: editorial introduction ; 5. The Spiritual Dimensions: editorial introduction ; 6. Politics, the markets and business: editorial introduction ; 7. Communicating tipping points and resilience: editorial introduction ; 8. A precarious future
£28.49
Oxford University Press Inc Grand Transitions
Book SynopsisTrade ReviewGrand Transitions shows Vaclav Smil truly to be Bringing It All Back Home * John Roy Porter, Natures Sciences Sociétés *Vaclav Smil is my favorite author. * Bill Gates, GatesNotes *His book roams impressively around the globe and across five centuries as it asks big questions and searches for big answers. . . .His five-pack of grand transitions encompasses population, agriculture and diets, energy, economy, and environment. . . . anyone who hasn't read about these subjects since graduation will be awestruck by the amount of research that has gone into these vaguely familiar stories. Smil pulls recent studies together, throws in a few of his own, offers interpretive twists, and fills his account with delicious nuggets of information. (This book actually got me in trouble at home, as I kept asking my family, "Did you know..." about some gem of an anecdote.) * Andre Schmid, Literary Review of Canada *No one writes about the great issues of our time with more rigor or erudition than Vaclav Smil. Grand Transitions is at once sweeping, sobering, and profoundly informative. * Elizabeth Kolbert, author of The Sixth Extinction, winner of the Pulitzer Prize *An expert portrait of spectacular technical and economic advances that many in the 21st century enjoy but which exclude large segments of the population and are creating problems that may or may not be solvable. Ingenious, insightful, and disturbing. * Kirkus *Underpinned by mesmerizing data and deep analysis, Grand Transitions provides a clear and compelling framework for thinking about the future of energy, the environment, and the economy. A feast for anyone interested in the future of energy. A must read. * Atul Arya, Chief Energy Strategist, IHS Markit *Grand Transitions is the epitome of excellence in integrative systemic scientific analysis, anchored in a magisterial exploration of the main five transitions of mankind since civilizations emerged. And it provides a healthy antidote to the wishful thinking so prevalent today. Decision makers and the public should educate themselves with this authoritative evaluation, which will shape their decisions on how to ensure a harmonious, sustainable future for all. * Didier Sornette, Professor of Entrepreneurial Risks and Finance, ETH Zurich *For a generation, polymath Vaclav Smil has expounded on the big patterns in energy, food, and other means through which humans have transformed their environment. In Grand Transitions he has zoomed out even further to paint a picture of how the pieces fit together and to explain how the modern world works. In elegant prose with relentless attention to fact and reality-rare these days-he has written a masterpiece that forces you to think, disagree, wonder, and grapple with the accomplishments and challenges of today's industrial society. * David G. Victor, Professor of International Relations, University of California, San Diego *In Grand Transitions, Vaclav Smil reminds us of the fundamental point that the economy cannot be untethered from nature. Technological ingenuity has loosened the links, but the outlook for economic gains--or losses--is inextricably tied to the dynamics of population change, and of food and energy production. * Diane Coyle, Bennett Professor of Public Policy, University of Cambridge *Investing requires quantification of impact. But Vaclav Smil convincingly challenges the increased reliance on applying mathematical modelling to single-frame narratives. He steadily illustrates why such approaches seldom provide useful enough insights, as they tend to ignore technical constraints and biospheric limits. * Philippe Rohner, Pictet Asset Management *Smil offers a sweeping account of the deep material forces that have shaped the modern world... He tells a remarkable story of the human capacity to innovate, build, and integrate societies across vast distances. * Foreign Affairs *Smil is a conjurer with numbers. In Grand Transitions, he works to show just how thoroughly this is now a planet of our making--and how rapidly the transformation is still happening. * Washington Post *Table of Contents1. Epochal Transitions 2. Populations 3. Agricultures and Diets 4. Energies 5. Economies 6. Environment 7. Outcomes and Outlooks
£14.99
Clarendon Press Aristotles Economic Thought
Book Synopsis`[Meikle''s] aim is to make proper sense of Aristotle''s economic thinking, and in a detailed, lucid discussion he succeeds brilliantly.'' Peter Jones, Sunday TelegraphAristotle''s work on money was the backbone of medieval thinking about commerce, and it is still the foundation of Catholic teaching about market behaviour. Marx''s theory of economic value was based on it, and so was much of the economic analysis of money into the present century. In the past hundred years the interpretation of Aristotle''s work on money has become chaotic. Economists claim Aristotle as the father of economics, while classical scholars hold that Aristotle had no economic theory at all. It is argued here that Aristotle does develop a coherent theory of economic value, wealth, exchange, and money, but that this theory cannot be assimilated to what we call economics because its metaphysical foundation is incompatible with the Humean metaphysics on which economics is built. From an Aristotelian standpoint, Trade ReviewMeikle's book puts Aristotelian metaphysics back on the agenda for anyone who is seriously concerned to understand the fundamental issues of the nature of value and its correlative, the (un)-ethical nature of contemporary capitalism. There are very few issues that are more fundamental and more relevant than these. * Steve Fleetwood, Cambridge Journal of Economics *Meikle's book is an important scholarly contribution to our understanding of Aristotle's economic thought. * Fred Miller Jr, Apeiron *the book is undoubtedly well written, and written with great commitment ... It is extremely well researched, and Meikle is thoroughly familiar with the commentators, modern, mediaeval and (to a lesser extent) ancient, on Aristotle's economics. * Vasilis Politis, Trinity College Dublin, Philosophical Quarterly, April 1999 *
£48.60
Clarendon Press The Right to Private Property
Book SynopsisCan the right to private property be claimed as one of the `rights of mankind''? This is the central question of this comprehensive and critical examination of the subject of private property. Jeremy Waldron contrasts two types of arguments about rights: those based on historical entitlement, and those based on the importance of property to freedom. He provides a detailed discussion of the theories of property found in Locke''s Second Treatise and Hegel''s Philosophy of Right to illustrate this contrast. The book contains original analyses of the concept of ownership, the ideas of rights, and the relation between property and equality. The author''s overriding determination throughout is to follow through the arguments and values used to justify private ownership. He finds that the traditional arguments about property yield some surprisingly radical conclusions.Trade Review`A thoughtful and meticulous book ... consistently intelligent and often highly instructive.' Times Literary Supplement`an exceptionally clear and useful account ... Waldron's book demonstrates where an effort to take "the right to private property" seriously ought to lead.' Times Higher Education Supplement`scholarly book' Robert Oakeshott, Political Quarterly, 61.3 July-Sept 1990`His extensive discussion of Locke will not disappoint ... immensely rich. Highly recommended for all university and college libraries' Religious Studies Review`lucid and authoritative book ... A book like this is intended to be the beginning, not the end, of thinking about the subject it covers.' Constitutional Commentary`thoughtful, tightly reasoned book ... a very clear and extraordinarily sophisticated analysis of property rights.' Michigan Law Review`we should be grateful for the wealth of intelligent and insightful analyses in this big book' Dialogue`The great merit of Waldron's study is that it brings a high-powered and unforgiving microscope to one argument: that there is a right to private property ... Because the study of the right to property can lead in so many directions, and because Waldron is aware of them, this is a major contribution to contemporary political theory.' Political StudiesTable of ContentsPart 1: The Framework: Introduction; What is private property?; Right-based arguments; Special rights and general rights; Part II: The arguments: Arguing for property; Locke's discussion of property; Historical entitlement: some difficulties; General-right-based arguments for private property; The Proudhon Strategy; Hegel's discussion of property; Self-ownership and the opportunity to appropriate; Property for all; Bibliography; Index
£42.07
Clarendon Press On Economic Inequality
Book SynopsisBased on the 1972 Radcliffe Lectures, this book presents a systematic treatment of the conceptual framework as well as the practical problems of measurement of inequality.Trade ReviewRarely has so small a volume offered so comprehensive an overview of its subject, constituting a readable and intelligent evaluation of the literature of economic inequality. * William Baumol, Economica *Professor Sen is well known for his contributions to the higher reaches of welfare economics. The series of four lectures which comprise this book display his usual clarity and rigour of expression. * Economist *
£51.30
Clarendon Press Game Theory and Economic Modelling
Book SynopsisOver the past two decades, academic economics has undergone a mild revolution in methodology. The language, concepts and techniques of noncooperative game theory have become central to the discipline.This book provides the reader with some basic concepts from noncooperative theory, and then goes on to explore the strengths, weaknesses, and future of the theory as a tool of economic modelling and analysis. The central theses are that noncooperative game theory has been a remarkably popular tool in economics over the past decade because it allows analysts to capture essential features of dynamic competition and competition where some parties have proprietary information. The theory is weakest in providing a sense of when it - and equilibrium analysis in particular - can be applied and what to do when equilibrium analysis is inappropriate. Many of these weaknesses can be addressed by the consideration of individuals who are boundedly rational and learn imperfectly from the past.Written inTrade Review`fascinating little book' Jean Tirole, Journal of Economic Literature`a book I could not put down ... the exposition is remarkably clear' Journal of Economic Perspectives`Will rapidly be established as a basic reference for students and their teachers ... even the less mathematically inclined economists will find much to gain from the application of new game theory techniques in economics.' Scottish Journal of Political Economy'It is partly a measure of how much macroeconomics has ceased to be a separate subject from microeconomics that workers in my field will now find so much to interest them in this book. It is more a measure of how engaging this book is.' Thomas J. Sargent, University of Chicago, Journal of Political Economy'The writing is in a very personalised style. Though the book is putatively for the novice, or less formally trained reader, the presentation and the level of the debate does make certain demands. It nevertheless is frontline stuff.' Economics Times, April 1992'I view Krep's discussions in the book as both interesting and helpful in describing certain key weaknesses of standard game theory.' Ronald Heiner, George Mason University, Constitutional Political Economy, Vol. 3, No. 1, 1992'Kreps has written a book that makes a sincere attempt to demystify game theory for the uninitiated and set the stage for a serious appraisal of the scope and limitations of game theory ... it does manage to convey a flavour of the excitement that comes from grappling with strategic behaviour, and hopefully should convince the reader with an open mind that game theoretic questions and applications are abstractions of relevant economic issues.' Anindya Sen, Economic and Political Weekly, Vol XXVII No 14 April 4, 1992Table of ContentsIntroduction ; 1. The standard ; 2. Basic notions of noncooperative game theory ; 3. The successes of game theory ; 4. The problems of game theory ; 5. Bounded rationality and retrospection ; Bibliography ; Index
£46.80
Clarendon Press The Economic Theory of Agrarian Institutions Clarendon Paperbacks
Book SynopsisThis volume breaks new ground in the economic theory of institutions. The contributors show how some of the tools of advanced economic theory can usefully contribute to an understanding of how institutions operate. They show how sound theoretical analysis can in fact enable economists to reach conclusions which will help practitioners avoid many pitfalls in the formation and implementation of development policies, both within individual countries and in the context of international aid.Trade Reviewwell worth reading * Journal of Institutional and Theoretical Economics *a welcome contribution to an economic understanding of institutions * Quarterly Journal of International Agriculture *the book may well become a standard reference in institutional economics, especially in the context of LDCs, and will additionally stimulate efforts towards more applied research * Weltwirtschaftliches Archiv (Review of World Economics) *Table of ContentsGeneral introduction; Land and labour; Credit and interlinked transactions; Marketing and insurance; Co-operatives, technology and the State
£63.00
Oxford University Press Inefficient Markets an Introduction to Behavioral Finance C.L.E.
Book SynopsisThe efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions of investor rationality and perfect arbitrage are overwhelmingly contradicted by both psychological and institutional evidence. In actual financial markets, less than fully rational investors trade against arbitrageurs whose resources are limited by risk aversion, short horizons, and agency problems. The book presents and empirically evaluates models of such inefficient markets. Behavioral finance models both explain the available financial data better than does the efficient markets hypothesis and generate new empirical predictions. These models can acTrade ReviewOne of the very first books on behavioural finance ... covers some of the most important ideas in behavioural finance ... a rich source of empirical facts and new ideas, waiting to be further explored in financial economics ... Every financial economist, in particular those being trained in the classical finance school, should read this high-level book on behavioural finance. It is full of provocative and inspiring ideas that will keep your mind busy for many hours. I am sure this excellent book will become a classic in behavioural finance. * Journal of Institutional and Theoretical Economics26/03/2003 *Table of ContentsAre Financial Markets Efficient? ; Noise Trader Risk in Financial Markets ; The Closed-End Fund Puzzle ; Professional Arbitrage ; A Model of Investor Sentiment ; Positive Feedback Investment Strategies ; Open Problems
£144.00
Clarendon Press Real Freedom for All
Book SynopsisCapitalist societies are full of unacceptable inequalities. Freedom is of paramount importance. These two convictions are widely shared across the world. Yet they often seem in complete contradiction with each other. Fighting inequality jeopardizes freedom; taking freedom seriously boosts inequality. What can be done? Can the circle be squared? Philippe Van Parijs offers a ground breaking solution to the dilemma. Assessing and rejecting the claims of both socialism and conventional capitalism, he presents a clear and compelling alternative vision of the just society: a capitalist society offering a substantial unconditional basic income to all its members. Moving beyond pure political theory, Van Parijs shows what his ideal of free society means in the real world by drawing out its controversial policy implications. Real Freedom for All will be essential reading for anyone concerned about the just society and the welfare state as we move into the twenty first century.Trade ReviewReal Freedom for All is not just an exercise in political advocacy. It is an important piece of social philosophy on its own right. Although Van Parijs's main concern is to defend his own views, this book amounts to a critical guide through much of the recent literature on the topics it addresses. Professional philosophers will therefore find it stimulating and instructive, even as they take issue with one or another of its many controversial contentions. * Andrew Levine, The Philosophical Review, Vol.105 No.4 *Table of Contents1. Capitalism, Socialism, and Freedom ; 2. The Highest Sustainable Basic Income ; 3. Undominated Diversity ; 4. Jobs as Assets ; 5. Exploitation versus Real Freedom ; 6. Capitalism Justified
£54.90
