Economic theory and philosophy Books

Book SynopsisOn the Foundations of Monopolistic Competition and Economic Geography presents important work by B. Curtis Eaton and Richard G. Lipsey on product differentiation, including studies of spatial differentiation and the industrial structures that give rise to this phenomenon.The book opens with an introductory overview essay and explains why the authors reject the neoclassical, competitive vision of the economy. The essays included cover issues such as: the theory of multinational plant location, product differentiation, monopoly, models of value theory, capital with special reference to entry and exit barriers and entry equilibrium, the existence of pure profit and the theory of market pre-emption.This volume will be welcomed by academics and researchers interested in the microeconomic issues of competition, monopoly, firm behaviour and markets.Trade Review'Therefore, these four books published by Edward Elgar will be at the reference desks of all good economic libraries. In addition, the book on monopolistic competition and economic geography needs to enter all reading lists on the currently hottest topic in economics.'Table of ContentsContents: Introduction ‘Beyond Neoclassical Competitive Economics’ 1. ‘The Principle of Minimum Differentiation Reconsidered: Some New Developments in the Theory of Spatial Competition’ 2. ‘The Non-Uniqueness of Equilibrium in the Löschian Location Model’ 3. ‘The Introduction of Space into the Neoclassical Model of Value Theory’ 4. ‘Spatial Monopoly, Natural Monopoly, Pure Profits, and Land Rents’ 5. ‘A Comment on Location and Industrial Efficiency with Free Entry’ 6. ‘Freedom of Entry and the Existence of Pure Profit’ 7. ‘The Theory of Market Pre-emption: The Persistence of Excess Capacity and Monopoly in Growing Spatial Markets’ 8. ‘Comparison Shopping and the Clustering of Homogeneous Firms’ 9. ‘The Block Metric and the Law of Markets’ 10. ‘Exit Barriers are Entry Barriers: The Durability of Capital as a Barrier to Entry’ 11. ‘Capital, Commitment, and Entry Equilibrium’ 12. ‘An Economic Theory of Central Places’ 13. ‘Address Models of Value Theory’ 14. ‘Product Differentiation’ 15. ‘The Theory of Multinational Plant Location: Agglomerations and Disagglomerations’ 16. ‘Increasing Returns, Indivisibility and All That’ Name Index

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Book SynopsisThis insightful book critically assesses the subjectivist metatheoretical origins of the revival of modern Austrian economics. It examines the ideas of the main contributors to the Austrian school, including von Mises, von Hayek and Lachmann.Allen Oakley analyses the contribution to subjectivist philosophy made by the key founders of the neo-Austrian revival. He argues that while von Mises and von Hayek each confronted mainstream microeconomics with restricted subjectivist alternatives, Lachmann played the 'devil's advocate' for a more comprehensive range of subjectivist principles. The author finds that ultimately, although all three provided analyses that reached well beyond the confines of neoclassical economics, none fully applied the tenets of a complete subjectivism. Their contributions to the 1970s revival of interest in Austrian themes, and their legacies for neo-Austrian schools of thought, have thus left a great need for further methodological development if economics as a human science is to be reconstructed on subjectivist foundations.The Revival of Modern Austrian Economics will be of central interest to students and scholars of Austrian economics and to historians of economic thought and methodology more generally.Trade Review'. . . I find this book both useful and important. . . Oakley does an admirable job in laying out the subjectivist credentials of Mises, Hayek and Lachmann. However, even more important is how this book lays the groundwork for further debate.'Table of ContentsContents: Preface 1. Introduction 2. An Historical Sketch of Seminal Austrian Subjectivism 3. The Legacy of Ludwig von Mises 4. Hayek’s Early Formalism and Subjectivism 5. Hayek and the Vision of Economic Order 6. Hayek and Subjectivist Human Agency 7. Hayek’s Situated Human Agency 8. Hayek’s Methodology of Subjectivist Economics 9. The ‘Radical’ Subjectivism of Lachmann 10. Lachmann’s Kaleidics 11. Subjectivism: The Legacy Bibliography Index

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Book SynopsisFull employment and growth in the international economy remain the greatest economic challenges as we approach the twenty-first century. This important book, edited by two leaders in the field, rigorously examines these real world problems from a post Keynesian perspective and provides practical policy solutions for achieving growth and reducing unemployment.The increasing interdependence of world trade and the integration of capital markets has led to the globalization of the international economy. This globalization demands new policy prescriptions for international growth and employment without inflation. In order to combat stagflation, a distinguished group of authors suggests policies for achieving growth and employment within the framework of an entrepreneurial market system. They identify and evaluate the factors determining the expansion of the global economy and assess the impact of financial markets, derivatives and international regulations on domestic and global economic performance.Improving the Global Economy will be of special interest to policymakers, macroeconomists and all those concerned with global growth and employment issues.Trade Review'The book offers a useful collection of contributions . . . both on the relevance of the economics of Keynes, as well as on some key issues of concern for the growth of the global economy.' -- Claudio Lucifora, The Economic JournalTable of ContentsContents: Introduction Part I: Consumption, Investment and Government Spending Part II: Roundtable: Can Keynes’s Employment Policies Reach the Underclass? Part III: Keynes and Economic Development Part IV: Income Distribution Index

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Book SynopsisProperty rights formalize the relationship between individuals and goods. They form the cornerstone of the pricing, supply and efficient allocation of scarce resources between individuals.The Economic Foundations of Property Rights is an outstanding collection of some of the most important work from the founders of the field, including James M. Buchanan, Douglass C. North, Richard Posner, Armen Alchian, Lord Peter Bauer and Karl Brunner. It addresses the development of property rights, the effects of property rights on the allocation of resources and the link between alternative property rights and the production of wealth. Specifically, the authors consider the issues of democracy, law, transaction costs, the economics of exchange and the valuation of assets. The discussion considers property rights in the context of developing countries and transition economies as well as developed market systems.This comprehensive new source book will be welcomed by economists, particularly those interested in law and economics, as well as political scientists and those interested in public choice theory.Table of ContentsContents: Preface Part I: Property Rights: Definition and Economic Significance Part II: How and Why do Property Rights Develop? Part III: The Economic Theory of Property Rights Part IV: Property Rights and Economic Performance Name Index

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Book SynopsisLessons for Citizens of a New Democracy provides an authoritative analysis of the foundations of democracy, with relation to the demise of communist ideology. This significant contribution by a leading expert details the tentative process towards democracy in the successor states of the former Soviet Union and attempts to prioritise the issues of central importance in structuring a new democratic state.Table of ContentsContents: 1. Democracy: Just another Experiment? 2. Must we be something other than what we are? 3. Fools or Geniuses: What are Voters like in a Democracy? 4. Must we vote to be Democratic? 5. What is a fair and Competitive Election? 6. Economics or Politics: Which is the Chicken and which is the Egg? 7. Constitutional Rights: Mere words of Sustainable Guarantees? 8. Democratic Institutions: Why would they influence anything? 9. A New Constitution: Should we cut trees to print it? 10. Constitutions: Are there rules for how to write them? 11. Federalism: Ingredient for stability or a recipe for Dissolution? 12. Political Parties: A Source of Faction or Agents of Stability? 13. Legislatures: Can they govern us if they cannot govern themselves? 14. A Two-Chamber Legislature: Isn’t one more than enough? 15. Parliaments versus Presidents: Legislative Incoherence versus Authoritarian Rule? 16. Emergency Clauses: Essential Precaution or a lack of faith? 17. Russia’s Choices: An accident waiting to happen? 18. Can we be a Democracy? Index

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Book SynopsisThe Makers of Modern Economics Volume III follows on from the two previous volumes in presenting the intellectual development of some of this century's most influential economists. The first volume in this series was acclaimed by Professor David Audretsch as 'a unique insight into the thoughts and lives of prominent economists'.In this third volume their careers, education, achievements and views on future research are presented by economists who have made important contributions. The book brings together new original essays by Franklin M. Fisher, Christopher Freeman, Peter Groenewegen, Kelvin J. Lancaster, Martin Shubik and Gordon Tullock. The Makers of Modern Economics Volume III provides the academic, student and researcher with a fascinating insight into the life and work of some of todays most inspiring economists.Trade Review'. . . the book is well-presented and well-produced.'Table of ContentsContents: Preface 1. Economics Does Have a Useful Past and Yes, History is Important (P. Groenewegen) 2. My Career in Economics: A Hindcast (F.M. Fisher) 3. Welfare, Variety and Economic Modelling (K. Lancaster) 4. Technical Change and Economic Theory (C. Freeman) 5. On the Trail of a White Whale: The Rationalizations of a Mathematical Institutional Economist (M. Shubik) 6. Origins of Public Choice (G. Tullock) Index

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Book SynopsisEthnic Diversity, Liberty and the State is an insightful study of highly centralized, unitary systems of government and the breakdown of civil society in sub-Saharan Africa. The author argues persuasively that institutional reform involving decentralization and federalism can better accommodate ethnic diversity in the area.Table of ContentsContents: 1. Introduction 2. From Tribal Chief to Dictator 3. Ethnic Nations and Associations in Africa 4. Optimal Ethnic Integration and Separation 5. Integration, Centralization and Rent-Seeking 6. Integration, Centralization and Ethnic Conflict 7. Reducing Ethnic Externalities through Decentralization 8. Maintaining Unity and Diversity: Federalism 9. The Demand for Federalism in Africa 10. Constitutionalism and Civil Society in Africa 11. Protecting Property and Economic Liberties 12. Ethnic Representation and Voting Rules 13. Political Divorce: Redrawing Africa’s Borders Index

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Book SynopsisThe Rise and Fall of the Wealth of Nations is an interdisciplinary study concerning growth and cycles in economic development. It builds a bridge between rigorous economic theory and historical studies of long run economic evolution.This authoritative book explains long waves of economic activity and the rivalry of nations for leadership. It considers the concept that such waves of activity are characterized by a cyclical change of societies focusing alternately on capital accumulation and distribution. It also discusses the idea that a change in the economic leadership of a nation occurs after nations reach the height of their influence and turn away from accumulating capital in favour of distribution of income and wealth.This volume will be welcomed by academics, policymakers and students of economics and economic history.Trade Review'This book is a major contribution, with particular importance to those with an interest in growth theory and business cycles. . . Such a socio-cultural explanation of economic phenomena is unusual and highly original.'Table of ContentsContents: Preface 1. Introduction 2. Long Waves in the Economy and in Politics 3. Abundance of Explanations 4. Time Preference 5. Capital Formation with Population Growth 6. Economic Growth with Technological Change 7. Growth under Uncertainty and Imperfect Foresight 8. Long Waves of Economic Development 9. Long Waves and Business Cycles 10. Natural Resources and Population 11. Institutional Change 12. The History of Long Waves 13. International Rivalry 14. Epilogue Index

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Book SynopsisAdvances in General Equilibrium Theory presents a new approach to the construction of general equilibrium models. It considers the methods that should be adapted and some of the principal subjects with which general equilibrium modelling should be concerned in order to convert it into a useful body of knowledge.The book examines from new perspectives the major questions that have concerned general equilibrium theorists during this century, including the characteristics of perfect competition and the existence, uniqueness and stability of economic equilibrium. The author develops the concept of models as functioning systems, identifies the differences between models and equation systems and discusses the implications of the differences between mathematical methods and economic determinacy. He demonstrates that the treatment of perfect competition has been deeply flawed, that modern general equilibrium models are not functioning systems, that many equation systems in the literature are not supported by underlying models, and that models which would justify these equations are either improbable or inconceivable. In conclusion, Professor Walker indicates how these perspectives can be used to develop a new general equilibrium model, and presents an outline of its content.Advances in General Equilibrium Theory will be of special interest to microeconomists and those interested in economic methodology and general equilibrium modelling.Trade Review'I want to congratulate Professor Walker on what I think is a tour de force. He effectively demolishes what I have always thought was a very anaemic approach to discussing competition. I am going to suggest that a number of my colleagues read his book and hopefully develop a clearer perspective on the nature of markets.' -- Karl McDermott, National Economic Research Associates and formerly, Illinois Commerce Commission, USTable of ContentsContents: Introduction 1. The Construction of Functioning Models 2. Descriptions, Equations and Models 3. The Meaning and Conditions of Competition 4. New Perspectives on the Existence of Equilibrium 5. New Perspectives on the Stability and Uniqueness of Equilibrium 6. Reformation and Prospects of General Equilibrium Models Index

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Book SynopsisThe evolutionary approach to economics can be traced back as far as the eighteenth and nineteenth centuries in the work of Darwin, Smith and Malthus. These ideas have gradually developed since that time through Marx, Veblen and Marshall, and have recently experienced considerable attention. This book considers the development of evolutionary economics and its place in economic thought today.The book begins with a concise history of evolutionary economics which develops to examine the variety of approaches within the subject. The discussion continues with a rigorous analysis of why, in contrast to popular belief, evolutionary economics is not alien to neoclassical economics, arguing that it may even be considered to complement neoclassical economics. Continuing along this theme the firm is discussed from an evolutionary and neoclassical standpoint. Leading on from this is a discussion of modern model building in evolutionary economics and its relationship with Schumpeter's developmental work. Model building is examined further in relation to endogenous technological change and economic growth, and the effect that technological change and innovation can have on the spatial distribution of new industry. This book will be of special interest to evolutionary and post Keynesian economists and those interested in technological change and innovation.Trade Review'. . . the combination of these papers does provide a useful amalgam of the several streams of intellectual endeavour which come under the evolutionary economics banner. In summing up this volume overall it is interesting to consider the range and calibre of the distinguished and able economists who have argued over many years for the inclusion of (broadly defined) evolutionary ideas in mainstream economic discourse.' -- Peter Mottershead, KyklosTable of ContentsContents: 1. Variety in the Garden of Heterodox Economics: An Introduction (J.P.G. Reijnders) 2. Economics and Evolution and the Evolution of Economics (G.M. Hodgson) 3. Evolutionary Economics: Precursors, Paradigmatic Propositions, Puzzles and Prospects (J.J. Vromen) 4. Evolutionary Economics and the Theory of the Firm: Assessments and Proposals for Research (N.J. Foss) 5. Neo- and Post-Schumpeterian Contributions to Evolutionary Economics (E.S. Andersen) 6. Economic Growth: An Evolutionary Perspective (G. Silverberg and B. Verspagen) 7. New Technology and Windows of Locational Opportunity: Indeterminacy, Creativity and Chance (R. Boschma and B. van der Knaap) Index

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Book SynopsisMarket process theory is principally concerned with explaining how the market moves towards a state of general economic equilibrium and how production and consumption plans become coordinated. Market Process Theories presents in two volumes the most important articles by leading economists which contribute to an understanding of the processes of economic coordination.Volume I examines classical and neoclassical theories; it suggests that many classical writers can be interpreted as having anticipated a more dynamic disequilibrium analysis, and evaluates Marxian process theory also in this light. Other topics include analyses of price adjustment models, stability and disequilibria and a discussion of the challenge of increasing returns. Volume II deals with criticisms of standard theories such as institutionalism and post Keynesian criticisms. It also offers an exploration of the Swedish influence in the field with papers on the theory of savings and the concept of monetary equilibrium among others. Austrian economics is the subject of the final section, which explores such topics as the meaning of competition, process analysis and price and quantity adjustment.Table of ContentsContents: Volume I: Part I: Process in Classical Economics Part II: Marxian Process Theory Part III: Formal Market Process Models in Neoclassical Economics Part IV: The Challenge of Increasing Returns Index • Volume II: Part I: Institutionalist Approaches and Post Keynesian Criticisms Part II: The Swedish Influence on Market Process Theory Part III: The Central Concept of Austrian Economics: Market Process Index

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Book SynopsisLiberalism is today under serious intellectual attack. It is said to undermine its own principles, to have lost any strong claims to universal validity, and to foster injustice and inhumanity. Liberalism is associated with Enlightenment thought and is considered by some as an outmoded political philosophy. Professors Rasmussen and Den Uyl take up this challenge to liberalism. They show that liberalism is not locked into traditional ways of understanding itself and has the capacity to enrich itself by intellectual traditions not usually associated with liberalism.Unlike much of liberalism, which defends its politics by resorting to either moral skepticism or moral minimalism, Rasmussen and Den Uyl employ a distinction between normative and “metanormative” principles. The latter are more directly tied to politics and concern principles that establish social/political conditions under which full moral conduct can take place. Thus it is not necessary to minimize the moral universe to support liberalism. Rasmussen and Den Uyl support their distinction through a novel use of neo-Aristotelian virtue ethics, and they show the importance of this distinction when they specifically address the positions of two leading critics of liberalism - John Gray and Alasdair MacIntyre.Trade Review’This is an exceptionally fine treatment of one of the most troubling aspects of classical liberalism, namely, its relationship to morality and the fact of the plurality of moral practices within human community life. The authors address the most recent statement of the problem and handle it with magnificent clarity and philosophical astuteness. This is clearly the best of not only what these authors have said on the topic thus far but what any classical liberal has produced in an attempt to demonstrate that the challenges of human community life are met most successfully by a well thought out classical liberal polity.’ -- Tibor R. Machan, Auburn University, USTable of ContentsPart 1 Liberalism and ethics: the good and the right; the socialization of ethics; the metanormative solution. Part 2 The foundations of liberalism: neo-Aristotelian virtue ethics; rights, ethics and liberalism. Part 3 Analyses and objections: the challenge of liberal communitarianism; the challenge of conservative communitarianism. Part 4 Conclusion.

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Book SynopsisPromises, Promises examines from a libertarian perspective, the differing methods and levels of success of adapting contract law in the Czech Republic, Hungary, Poland and especially Russia in the wake of political change. The author analyses the roles of government power and policy, opportunism and private regulatory mechanisms within the pattern of change.Table of ContentsAlternative methods of legal change; contracts and opportunism; private mechanisms; Czech Republic, Hungary, Poland; Russia; government policy; creation of efficient rules; implications.

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Book SynopsisThis collection is a tribute to a most faithful, true Keynesian, who read, thought, dreamt and promoted Keynes: Lorie Tarshis (1911-1993). This volume is focused on the important role of Lorie Tarshis's brand of Keynesianism on the effect of the Keynesian revolution on economic thought in America. Tarshis was among the first to form part of Keynes's select 'circus', not only witnessing, but actually participating in the making of The General Theory. This memorial includes new reflections on the impact of Keynesianism in the making by many of the eminent early generations of American post-war economists, Galbraith, Goodwin, Kindleberger, Samuelson, Salant, Tobin and Perlman. While their contributions shed more light on how the participants in the process, Tarshis included, effected early Keynesianism, the volume also contains contributions by those such as Moggridge and McQueen who reflect on aspects of the process from greater distance. Holzman and Reder recount Lorie Tarshis's subtle contribution and its direct impact and reverberations are reflected upon in the balance of the chapters by Colander, Dimand, Dow, Grimard, McCann and Perlman, and Parker.This book will be of great interest to scholars interested in the history of economic thought and Keynesian economics.Trade Review'Keynesianism and the Keynesian Revolution in America makes fascinating reading for those interested in the development of economics in the 1950s.' -- Journal of Economic Perspectives '. . . the volume's contents are fitting tributes to a wonderful person.'– G.C. Harcourt, History of Economics ReviewTable of ContentsContents: Introduction Part I: Introductory Comments 1. Lorie Tarshis: a brief memoir 2. How Keynes came to America 3. The diffusion of the Keynesian revolution 4. Harvard’s Fiscal Policy Seminar Part II: Introductory Extracts 5. Lorie Tarshis: an early Keynesian herald in America 6. Requiem for the classic Tarshis textbook that first brought Keynes to introductory economics 7. Political influence on the textbook Keynesian revolution 8. Lorie Tarshis, Left Wing Keynesian Part III: Introductory Extracts 9. Another Canadian Keynesian 10. Keynes, Tarshis, real and money wages, and employment 11. Keynesian monetary theory and the debt crisis 12. A case against muddling through Part IV: Introductory Comments 13. Caveat emptor, investor, depositor 14. On Keynes and Ramsey on probability 15. Keynesian economics and the meaning of uncertainty Bibliography

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Book SynopsisThis is a thoroughly updated and revised edition of the first, and definitive, biographical dictionary of dissenting economists. It is an extensive and authoritative guide to economists both past and present, providing biographical, bibliographical and critical information on over 100 economists working in the non-neoclassical traditions broadly defined. It includes entries on, amongst others, radical economists, Marxists, post-Keynesians, behaviourists, Kaleckians and institutionalists. The book demonstrates the extent and richness of the radical heterodox tradition in economics.This second edition continues to mark a departure from what is usually found in a biographical dictionary for, in addition to providing standard biographical information, living economists have themselves been asked to state their principal contributions to economics, supplemented by a list of their leading books and articles. A Biographical Dictionary of Dissenting Economists, Second Edition will continue to be an essential reference source for instructors, researchers and students of economics, its development and history.Trade Review'This is a fascinating book of the personal stories of how heterodoxy re-emerged, evolved, survived and developed. It makes great reading, not only for sheer enjoyment, but also for gaining insight into the major concerns, theories and policies of dissenting political economy. It is a 'must buy' for anyone interested in alternative perspectives of economy and society, and it is essential for every university library. The editors have done a great job in bringing to life the main concerns of the dissenters in a humanistic fashion. The revival of heterodox political economy commenced in earnest in the 1960s and it is now maturing. Also, its various schools are starting to recognise the many unifying or complementary aspects of its development. This volume provides many insights into the critical concerns likely to become more important in the future, as an increasing number of economists recognise the importance of a broader study of the social and political foundations of production, distribution and exchange, and the reproduction of the institutions underlying such activities.'Table of ContentsContents: Introduction Samir Amin, Tom Asimakopulos, Clarence Edwin Ayres, A.K. Bagchi, Thomas Balogh, Paul Alexander Baran, Luiz Gonzaga de Mello Belluzzo, Amit Bhaduri, Krishna Bharadwaj, Kenneth E. Boulding, Samuel Bowles, Harry Braverman, Nikolai Ivanoviich Bukharin, Sukhamoy Chakravarty, Victoria Chick, John Roger Commons, John Cornwall, Keith Cowling, Paul Davidson, Meghnad Desai, Carlos F. Diaz-Alejandro, Maurice Herbert Dobb, John Eatwell, Alfred Eichner, Ben Fine, Duncan K. Foley, Andre Gunder Frank, Cels Furtado, John Kenneth Galbraith, Pierangelo Garegnani, Nicholas Georgescu-Roegen, Herbert Gintis, Wynne Godley, Richard Murphey Goodwin, David M. Gordon, Augusto Graziani, Keith B. Griffin, Peter Groenewegen, G.C. Harcourt, Robert L. Heilbroner, Rudolf Hilferding, Albert O. Hirschman, John Atkinson Hobson, Stephen Herbert Hymer, Makoto Itoh, Nicholas August Ludwig Jacob Johannsen, Richard Kahn, Nicholas Kaldor, Michal Kalecki, John Maynard Keynes, David P. Levine, Adolph Lowe, Rosa Luxemburg, Bruce MacFarlane, Harry Magdoff, Ernest Mandel, Gardiner C. Means, Ronald L. Meek, Hyman P. Minsky, Wesley Clair Mitchell, Gunnar Myrdal, Claudio Napoleoni, Edward J. Nell, Alec Nove, Domenico Mario Nuti, Nobuo Okishio, Luigi Lodovico Pasinetti, Prabhat Patnaik, Francois Perroux, Aníbal Pinto Santa Cruz, Karl Polanyi, Raul Prebisch, Michael Reich, Joan Robinson, John E. Roemer, Kurt W. Rothschild, Warren J. Samuels Bertram Schefold, Dudley Seers, Amartya Sen, George L.S. Shackle, Anwar M. Shaikh, Howard J. Sherman, Hans Wolfgang Singer, Ajit Singh, Piero Sraffa Ian Steedman, Josef Steindl, Paul Streeten, Paul Marlor Sweezy, Lorie Tarshis Maria de Conceicao Tavares, L. Taylor, Marc R. Tool, Shigeto Tsuru, Kozo Uno, Thorsten Veblen, Sidney Weintraub, Thomas E. Weisskopf, E.L. Wheelwright

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Book SynopsisPaul Dale Bush has been an imaginative and important contributor to the neo-institutionalist economic literature in the United States for over three decades. This is the first of two volumes presenting a tribute to this highly influential scholar.The majority of Paul Dale Bush's recent scholarly writings have addressed the clarification and refinement of the pragmatic instrumentalist model of inquiry. This book first reviews Dale Bush's main contributions to academic life and to neo-institutional scholarship. Internationally recognized contributors - Phillip Anthony O'Hara, Erkki Kilpinen, Geoffrey M. Hodgson, Kurt Dopfer, Warren J. Samuels, Edythe S. Miller, Ann L. Jennings and William Waller - then provide a penetrating analysis of the Veblen-based neo-institutionalist theoretical approach to inquiry and its reflection in social value theory.This book will be of great interest to postgraduate students and scholars in the field of institutional economics, political economy, history of economic thought, methodology and social value theory.Table of ContentsContents: 1. The Contribution of Paul Dale Bush to Academic Freedom and Institutional Economics 2. The Pragmatic Foundations of the Institutionalistic Method: Veblen’s Preconceptions and their Relation to Peirce and Dewey 3. Dichotimizing the Dichotomy: Veblen versus Ayres 4. On Veblen’s Coining of the Term ‘Neoclassical’ 5. Causality and Order in Economics: Foundational Contributions by G. Schmoller and W. Eucken 6. The Historical Quest for Principles of Valuation: An Interpretive Essay 7. Institutional Economics and Eternal Verities: A Contribution to the Discussion 8. Institutions and Social Valuation Index

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Book SynopsisThroughout his long career as a professional scholar, Paul Dale Bush has been a cogent theorist, a model practitioner and an ardent defender of academic freedom and of democratic practices. Institutionalist Theory and Applications is the second of two volumes celebrating his career and his contribution to neo-institutional economics.This volume presents contributions by a distinguished group of institutionalist scholars: Edythe S. Miller, Philip A. Klein, James A. Cypher, F. Gregory Hayden, John Groenewegen, Peter Soderbaum, Charles M.A. Clark, Catherine Kavanagh and Janice Peterson. The book explores the interdependence of theory and policy and applies institutional theory to several problem areas of governance and performance.This book will be of great interest to postgraduate students and academics in the field of institutional economics, evolutionary economics, political economy, history of economic theory, methodology, social economics, social policy and social value theory.Table of ContentsContents: Preface 1. Instrumental Inquiry and Democratic Governance 2. The Interdependence of Theory and Practice 3. Normative Macroeconomics 4. Financial Dominance in the US Economy 5. Normative Analysis of Instituted Processes 6. Changes in the Institution of Corporate Governance 7. Science, Ethics and Democracy 8. How are we Doing? 9. Institutional Economics in the Classroom Index

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Book SynopsisTurbulence in Economics presents the economy as an evolutionary process, economics as a realistic science and reintroduces history as fundamental to understanding economic processes. It examines cycles and fluctuations in economic history from the point of view of turbulence in the physical sciences, (specifically hydrodynamics), and argues that an evolutionary approach is required for a better understanding of historical economic processes.Economic time is marked by a succession of long periods of economic expansion and depression, separated by deep structural changes. These periods represent distinct forms of organization of social relations, science and technology, cultural trends and political and social institutions. This is accepted by historians but rejected in orthodox economics. In this book the author challenges this and argues that the divorce between economics and history limits the ability of economics to explain reality. Within this inquiry into the crisis of orthodox economics the author considers Keynes's, Mitchell's and Schumpeter's critiques of neoclassical economics. The author then compares these to the contributions of Frisch and Wicksell, and examines recent studies of chaos, nonlinear and complex dynamics to explain the historical development of modern economics.This book will be welcomed by economic historians, historians of economic thought, institutional and evolutionary economists and those interested in chaos, complexity and modern methodology.Trade Review'Louca's book is a brilliant and convincing demonstration of the importance of deliberate and conscious attention to epistemology. . . This is an invaluable book for all those who wish to learn from the legacy of both Schumpeter and Keynes.’Table of ContentsContents: Introduction Part I: The Evolutionary Metaphors in the Reconstruction of Economics Part II: The Rocking Horse Part III: Bounded Heresies Part IV: Dr Panglaoss Hunted by the Snarks Conclusion: Complexity, The Condition of the World References Index

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Book SynopsisMurray N. Rothbard was the leading voice of the Austrian School of Economics during its post-war American revival. His research in economic theory, history, method and policy, was the major impetus for today's burgeoning interest in the Austrian School and the broader realm of free-market thought.The Logic of ActionTwo is a careful selection of Rothbard's most important scholarly articles. Some have appeared in mainstream journals, others have been long out of circulation, and still others are published here for the first time. It was Rothbard's major ambition to shore up the scientific status of the Austrian School and, at the same time, demonstrate the theory's radical, free-market implications for government policy.The book confirms Rothbard as an intellectual giant, and presents his many contributions to the Austrian School, a systematic alternative to mainstream thought that reaches radical, free-market policy conclusions.Trade Review'Rothbard writes in an engaging, provocative style, defending the praxeology of Ludwig von Mises. His writing is full of ideas with which economists should, in my view, disagree. However, no economist's education is complete without being able to answer the challenges he poses.' -- Roger E. Backhouse, University of Birmingham, UKTable of ContentsContents: Applications 1. Freedom, Inequality, Primitivism, and the Division of Labor 2. Restrictionist Pricing of Labor 3. Mercantilism: A Lesson for Our Times? 4. The Myth of Neutral Taxation 5. The Myth of Tax ‘Reform’ 6. Law, Property Rights, and Air Pollution 7. The Fallacy of the ‘Public Sector’ 8. Statistics: Achilles’ Heel of Government 9. Capitalism versus Statism 10. How and How Not to Desocialize Criticism 11. The Politics of Political Economists 12. Breaking Out of the Walrasian Box: Schumpeter and Hansen 13. Professor Rolph on the Discounted Marginal Productivity Theory 14. Professor Kirzner on Entrepreneurship 15. Samuelson’s Economics, Ninth Edition 16. Heilbroner’s Economic Means and Social Ends 17. Buchanan and Tullock’s The Calculus of Consent 18. The Hermeneutical Invasion of Philosophy and Economics 19. The Single Tax: Economic and Moral Implications 20. A Reply to Georgist Criticisms 21. The Myth of Free Banking in Scotland 22. Karl Marx: Communist as Religous Eschatologist Index

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Book SynopsisDavid Gordon was a pioneer in the burgeoning field of institutional growth economics, introducing the concept of a 'social structure of accumulation', and richly illustrating its usefulness with both econometric and historical studies. Gordon also helped to develop the theory of segmented labor markets and contributed to the econometric and historical analysis of their evolution. This authoritative collection of his most influential works - selected and introduced by his two closest collaborators - embraces the full range of his lifelong scholarly endeavor to deploy modern economic reasoning in the cause of social justice.The work opens with an introduction and overview of David Gordon's career and published work. This is followed by his major essays on a great variety of topics, including the economics of crime, urban history, wage stagnation in the US economy, the organization of work, the 'top-heavy' modern corporation, the social and institutional determinants of productivity growth and the globalization of economic life, as well as labor market segmentation and the social structure of accumulation.Gordon's synthesis of questions of neo-Marxian and more conventional provenance, and his integration of historical and econometric methods in providing answers, makes Economics and Social Justice a unique and intellectually rewarding analysis of contemporary capitalism.Trade Review'. . . a collection for the specialist. There are good papers which will appeal to some geographers. . .' -- David M. Smith, Progress in Human GeographyTable of ContentsContents: Introduction (S. Bowles and T. Weisskopf) Part I: Urban Problems and Labor Markets Part II: Long Swings and Cycles Part III: US Productivity Growth, Profitability and Investment Part IV: Macroeconomic History Part V: Heterodox Macroeconomics Part VI: Supervisory Labor and the Bureaucratic Burden Part VII: Macroeconomic Policy Issues

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Book SynopsisThis work addresses philosophy in economics and the conduct of inquiry into economics ("What do economists do, and what is economics about?"). It opens with a discussion of the work of McCloskey and rhetorical approaches to understanding economics, going on to ask, "Is economics a science?".Table of ContentsEconomic methodology; economics and predictive empiricism; economics and scientific laws; is economics a galilean science? economic models (I); economic models (II); explanation in economics.

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Book SynopsisThe Keynesian Revolution and its Economic Consequences is a study of John Maynard Keynes as a publicist, expert and theorist and of the economic doctrines associated with his name. It examines the Keynesian revolution in economic theory and policy and shows how Keynesianism as a school of thought departed from the substance of Keynes's own thinking and policy prescription.Peter Clarke places the 'historical' Keynes in the context of his own times and examines the subsequent institutionalization of Keynes. The author presents an historical account of Keynes's own thinking and influences, and offers a reassessment and a non-technical explanation of Keynesian policies, notably budget deficits. The author explores Keynes's major works and ideas within a political context, concluding that greater emphasis should be placed on his ideas about uncertainty and confidence, his thoughts on the complementary roles of public opinion and expertise, his commitment to the politics of persuasion and his challenge to entrenched vested interests. The Keynesian Revolution and its Economic Consequences will be of interest to historians and scholars of economic thought and economic policy as well as economic historians.Trade Review'During the last two decades, as an increasing number of scholars from other disciplines have begun to analyze Maynard Keynes and his work,Peter Clarke has distinguished himself as one of the best writers in the field, from any discipline. . . . This handsome volume puts the work at your fingertips. It is a rare collection that you will enjoy for the pleasure of the writing as well as for the pleasure of the intellectual discovery.'Table of ContentsContents: Introduction 1. The Historical Keynes and the History of Keynesianism 2. J.M. Keynes, 1883–1946: ‘The best of both worlds’ 3. The Politics of Keynesian Economics, 1924–31 4. Keynes’s General Theory: A Problem for Historians 5. Hobson and Keynes as Economic Heretics 6. Keynes in History 7. The Treasury’s Analytical Model of the British Economy Between the Wars 8. The Twentieth-Century Revolution in Government: the Case of the British Treasury 9. Keynes, Buchanan and the Balanced Budget Doctrine 10. The Keynesian Consensus and its Enemies: the Argument Over Macroeconomic Policy in Britain since the Second World War

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Book SynopsisGiovanni Dosi is recognized as one of the world's leading scholars in industrial economics and corporate change. This volume contains a selection of his most important work and provides an excellent overview of the contribution he has made to the economics of innovation and technical change.Key topics include: technological paradigms and innovation diffusion economic behaviour and learning organizational structures and behaviour in a changing environment< corporate finance and innovation industrial dynamics evolutionary theories in economics institutions, technical change and economic growth. The book will be welcomed by scholars and students of innovation, industrial organization, business and institutional and evolutionary economics.Trade Review'This essay collection, spanning almost 20 years from 1982 to 1999, is not only an impressive account of Dosi's academic achievements, but also "food for thought" for economists interested in a deeper understanding and possible modelling of growth processes in South Asia.'Table of ContentsContents: Innovation, Organization and Economic Dynamics: An Autobiographical Introduction Part I: Opportunities of Innovation, Search Procedures and Diffusion Part II: Economic Behaviours, Organizations and Innovation in Changing Environments Part III: Evolutionary Interpretations of Economic Change Part IV: Learning and Market Selection: Evolutionary Models of Economic Change Part V: Institutions and Economic Dynamics

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

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Book SynopsisThis important new book presents a state-of-the-art assessment of how economic models can be used by different levels of government to combat environmental problems. It considers policies for climate change and transport that can be used at federal and confederal levels of government.The authors examine the unique aspects of environmental policy making in a multi-layered government using empirical case studies covering Europe and the US. They consider the causes of pollution at three levels - federal government, local government and industries and firms. Concentrating on greenhouse gas abatement and the transport sector, they use quantitative techniques to compare alternative policy solutions. This quantitative approach overcomes problems of some inconclusive theoretical prescriptions, which often depend on combinations of particular parameter values. In addition, this method makes it possible to investigate the costs and benefits of a particular solution, and the distribution effects between different groups. This approach also provides insights into the economic consequences of the application of local versus national or federal policies. Climate Change, Transport and Environmental Policy provides the necessary analysis required for environmental policy making in that it uses a quantitative approach to balance the costs and benefits of alternative policy options.Climate Change, Transport and Environmental Policy is an important addition to the literature and will be welcomed by environmental policymakers at the local, regional, national and international level as well as scholars and postgraduate students in environmental economics and public policy.Trade Review'As a whole, the book is quite impressive. It takes a fresh look at a number of critical problems, and gives us a number of constructive insights . . . this reader believes that the book belongs on the shelf of any serious practitioner in this field. It also could prove to be quite beneficial as supplemental reading for graduate-level classes in environmental economics.'Table of ContentsContents: 1. Introductory 2. Alternative CO2 Abatement Strategies for the European Union 3. National Economic Impacts of an EU Environmental Policy: An Applied General Equilibrium Analysis 4. Environmental Fiscal Reforms in a Federal Europe 5. Coordinated versus non-coordinated European Energy/Carbon Tax Solutions Analysed with GEM-E3 Linking the EU-12 Countries 6. Who’s in the Driver’s Seat? Mobile Source Policy in the US Federal System 7. Deriving and Selecting Policy Instruments to Meet Air Quality Standards in the European Union 8. Central Versus Local Regulation of Gasoline Related Automobile Emissions: The Contrasting Cases of Lead, CO and Precursors 9. Regional and Federal Interests in Transport and Environmental Policy Making: The Case of Belgium Contributors: J. Braden, C. Böhringer, B. de Borger, P. Capros, C. Carraro, K. Conrad, Z. Degraeve, C. Denis, M. Ferris, M. Galeotti, P. Georgakopoulous, J.V. Hall, W. Harrington, G.J. Koopman, V. McConnell, S. Ochelen, S. Proost, D. van Regemorter, T.F. Rutherford, T. Schmidt, D. Swysen, L. Teunen, M. Walls, S. Zografakis

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Book SynopsisThe Keynesian revolution in the United States was a remarkable event in intellectual and economic history entailing a major shift in economists' thinking and the creation of a new field in economics - macroeconomics. From the first roots in the 1930s to Keynesianism's predominance in the early 1950s, The Coming of Keynesianism to America explains what the revolution was, as well as why and how it occurred.This book is based around a set of interviews with, what might be called, the Keynesian revolutionaries - the individuals most responsible for introducing Keynesian economics to the United States. It includes formal interviews with Richard Musgrave, Abba Lerner, Paul Samuelson, Tibor Scitovsky, Evsey Domar, Robert Bryce, Lorie Tarshis, John Kenneth Galbraith, Paul Sweezy, Walter Salant and Leon Keyserling. These interviews give the reader a sense of what the Keynesian revolution was and how it spread, as well as the hostility these earlier revolutionaries faced, and the similarities and differences in their views. The interviews are introduced by an essay which presents the Keynesian revolution in three parts as theoretical, political and pedagogical, concerned with the development of tools and models to teach macroeconomics. This essay sets the stage for the interviews and relates them to modern macroeconomic debates.The Keynesianization of America is interesting not just to historians of economic thought but also to other economists who want to know about the development of their discipline and to interested lay people and historians who follow the spread of ideas.Trade Review'. . . the most important merit of this book is simply that it is a good read which conveys the excitement of being a Keynesian at the end of the 1930s.' -- J.W. Nevile, History of Economics Review'. . . an important book, most of all for the generous human beings revealed, the genuine fire in the bellies of the people interviewed . . .' -- G.C. Harcourt, The Economic Society of Australia'David Colander and his co-author, Harry Landreth, via the reporting of "conversations" have rendered a great service to the economics profession by providing a written record on how Keynesianism came to America.' -- Paul Davidson, Journal of Economic Issues

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Book SynopsisThis important volume brings together 22 major essays written by A.P. Thirlwall over the last 30 years in the field of macroeconomics, and in particular on multiplier analysis, unemployment, inflation, growth and the balance of payments.These outstanding essays make pioneering contributions, such as the input-output formulation of the foreign trade multiplier; the derivation and use of the dynamic Harrod foreign trade multiplier; the measurements of types of unemployment; the estimation of regional Phillips curves, and the formalization of Kaldor's model of regional growth rate differences.Many of the essays are written from a Keynesian perspective, and the recent revival of interest in Keynesian economics means that the essays are as relevant today as when they were written, especially those on the nature of unemployment, the causes of inflation, and the link between the balance of payments and economic growth.Macroeconomic Issues from a Keynesian Perspective will be of interest not only to professional economists but also to policymakers in developed and developing countries for the insights it provides into the functioning of the macroeconomy.Table of ContentsContents: Introduction Part I: Keynesian Theory and Multiplier Analysis Part II: Unemployment and Inflation Part III: The Balance of Payments and Growth Index

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Book Synopsis1999 is the 100th year anniversary of the publication of Veblen's The Theory of the Leisure Class. This volume commemorates and celebrates Veblen's seminal contribution to the analysis of consumerist capitalism and assesses the book's relevance to the twenty-first century.Veblen's Leisure Class was a pioneering effort to come to terms with industrial capitalism's consumer culture, and it became the foundation for much of contemporary institutional economics. This book examines Veblen's contribution to the analysis of the new global economy, the growth of the women's movement, inequality, consumption and gambling at the turn of the century. It concludes by analysing the effects of the globalization of capitalism.This book will be of great interest to scholars of the history of economic thought and particularly those interested in how we can relate Veblen's classic work to society today and in the future.Trade Review'. . . thought provoking and interesting. Every open minded person would wish to read some of the essays.'Table of ContentsContents: Introduction Part I: The Path of Contemporary Culture Part II: What is the Leisure Class up to? Part III: Veblen and the Women’s Movement Part IV: Veblen in the Global Economy Conclusion Index

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Book SynopsisThis important book offers a detailed and analytical reconstruction of the pioneering attempts of Walras and Pareto to coordinate money and general equilibrium theory. It argues that the very logic of the original static general equilibrium model excludes the integration of monetary and value theory.The book presents for the first time the entire Lausanne tradition from Walras to Pareto. Its detailed coverage of the main literature between 1870 and 1923 contributes to the understanding of a central issue in modern general equilibrium theory, that is, the impossibility of coordinating money and price theory with the logic of Walras's model based on the theory of exchange. It shows how money is prevented from playing its essential role as a social institution in allowing monetary exchanges between individuals. In particular, the discussion focuses on the static nature of Walras's pure economics and the simultaneous lack of a proper means of exchange. In conclusion it calls for some radical re-thinking on this theoretical construction on which much modern economic theory is based.Money and General Equilibrium Theory will be welcomed by historians of economic thought, microeconomists and general equilibrium and money theorists.Trade Review'. . . the book gives a very good idea of what Leon Walras did in the field of pure and applied monetary theory throughout his whole career. In particular, it gives the reader an impression of Walras's tenacity in trying to find how the economic variables depend on each other and on a number of parameters.'Table of ContentsContents: Introduction 1. The First Lausanne Decade: General Equilibrium and the Equation of Exchange (1871–1880) 2. Periodical Market, Equation of Exchange and ‘Forced Saving’: Walras’s Applied Theory of Money 3. From the Théorie de la Monnaie to the Etudes d’Économie Politique Appliquée: More Variations on the Same Themes (1886–1898) 4. The Last Monetary Model (1899–1900), or the Ultimate Triumph of Internal Consistency 5. The Fate of a Still-born Tradition: Pareto and After Index

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Book SynopsisThis innovative book shows how new Keynesian economics has reacted to the challenges of new classical economics. It argues that new Keynesian economists have responded positively to the challenge and strengthened the analytical power of their models.The first part of the book offers a critical reconstruction of the two crucial strains developed in new Keynesian economics. Firstly, the analysis of nominal and real rigidities based on imperfect competition in markets and secondly the analysis of capital market imperfections based on information asymetries. The authors argue that the constraints and market failures of new Keynesian models need to be specified. In the second part they focus on the financial constraint of credit rationing, the market failure of unemployment equilibria and the links between financial constraints and the workings of the labour market in economic cycles. The analysis of this does not provide a solution to all the analytical problems of the new Keynesian framework, but assesses the strengths and weaknesses of new Keynesian economics. The authors suggest that new Keynesian economics has opened a promising path of research which could make a pathbreaking contribution to macroeconomic theory.Table of ContentsContents: Preface 1. The New Keynesian Economics: A Survey 2. An Investigation into the New Keynesian Macroeconomics of Imperfect Capital Markets 3. New Keynesian Economics and Sequence Analysis 4. Credit Rationing with Loans of Variable Size 5. Market Imperfections, Unemployment Equilibria and Nominal Rigidities 6. Nominal Shocks, Net Worth and Economic Activity: A New Keynesian View of the Monetary Transmission Mechanism Index

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Book SynopsisThis book is the third and final volume of essays celebrating the work and lifetime contribution of Paul Davidson to economics, specifically the development of post Keynesian Economics.The outstanding group of international economists examine areas in which Paul Davidson has an interest, or has made significant contributions. They explore international macroeconomic issues such as consumption and investment, wage and price flexibility, sticky prices and aggregate production, and financial liberalization. Other contributions discuss economic rhetoric and post Keynesian methodological issues while the final part of the book turns to real problems such as the politics and economics of the European Union, the stabilization of the international oil market and realities of financial liberalization.Trade Review'The editor has skillfully included the discussion of policy issues in a manner that the reader is allowed to discuss the topical issues from the point of view of different perspectives on the basis of their respective methodological foundations. The book is a methodologist's delight, and at the same time the focus is on understanding methodological foundations, which is tantamount to understanding crucial dimensions of economic processes.' -- Satya Prasad, KyklosTable of ContentsContents: Introduction (P. Arestis) 1. Davidson, Non-Ergodicity and Individuals (J.B. Davis) 2. Social Relations, Social Reproduction and Stylised Facts (T. Lawson) 3. Rhetoric, Paradigms, and the Relevance of the Aggregate Production Function (J. McCombie) 4. Keynes in Retrospect (R. Clower) 5. Consumption and Investment when Bankruptcy is not a Fate worse than Death (M.J. Gordon, S. P. Sethi) 6. Marx, Keynes, and Class War in America (W.C. Peterson) 7. Why Wage and Price Flexibility is Destabilising (B. Moore) 8. On Sticky Prices: A Post Keynesian Perspective (R. Rotheim) 9. Some Considerations on the Economics and Politics of the EU and the Maastricht Treaty (K.W. Rothschild) 10. The International Oil Market: Structural Changes and Stabilization Policies (A. Roncaglia) 11. Financial Liberalisation: Myth or Reality (P. Arestis, P. Demetriades) P. Davidson: Bibliography Index

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Book SynopsisWhat is the appropriate design for environmental regulation? Gert Tinggaard Svendsen sheds new light on the appropriate mix of economic instruments to implement environmental regulation in the context of the world-wide attempts to abate CO2 emissions.Gert Tinggaard Svendsen offers a detailed and comprehensive study of two alternative methods for controlling CO2 emissions - tradable permits and taxation - using examples of varying success from the United States and Europe. He applies a blend of environmental economic theory and public choice theory to analyse these methods and reveals that they both have merits. He proposes a design incorporating the best features of the two approaches because it is both cost-effective and politically and administratively feasible. In the case of C02 regulation, a CO2 permit market based on the US experience with free historical emissions should be applied in relation to industry, electric utilities and environmental organisations. The author proposes that a CO2 tax should be applied to non-organized interests, such as households and the transport sector, based on the EU experience. In particular, these policy recommendations are applied to potential CO2 permit markets in Europe and the United States.The interdisciplinary approach and the resulting policy recommendations make this book relevant to policymakers and academics across the social sciences. It will be particularly pertinent to those interested in environmental economics and public choice economics.Trade Review'This book is a valuable resource for policymakers, administrators, academics, and even for economic students. It provides a framework for understanding the theory and mechanics of markets in environmental quality and the political economy of incentive-based policy approaches. . . . The book's interdisciplinary approach and public choice orientation makes it valuable reading for policymakers as well as academic analysts. The highly detailed organizational structure of the book should recommend it even to the busy policymaker. . . . The book is a well-organized survey of the subject. It will be helpful to those policymakers who need it most and useful for economists and public choice specialists who might also find it an important resource for graduate classes.'Table of ContentsContents: 1. Introduction 2. Public Choice and Lobbyism 3. Tax Systems and Permit Markets 4. US Permit Markets 5. Lobbyism: US Interest Groups 6. Potential Co2 Market 7. Conclusion

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Book SynopsisPollution and the Firm is an important book which presents new concepts of the marginal cost of substituting non-pollutive for pollutive goods. Technical in its approach it complements the other literature in the field and will be a significant contribution to the understanding of microeconomic issues in pollution control. The book focuses on three main concepts: substitutions in consumption, emission abatement and exposure avoidance. The first part considers the adjustment of the scope and combination of goods produced as a method for controlling pollution. The author argues that pollution is controlled by increasing the relative price of the polluting good in the production process; thereby reducing demand and subsequent production of the good. In the second part the discussion is extended to include the possibilities of preventing or abating emissions in relation to three models: first, pollution prevention when non-polluting inputs and processes are substituted for pollutants; second, when a proportion of the polluting output is recycled rather than being discarded; and finally end-of-pipe abatement where additional technology is used. In conclusion the author assesses the extent to which pollution damage is controlled by avoidance of emissions, with avoidance being modelled as an add-on technology with its own returns to scale.This important book combines theories of the firm with a welfare economics approach to pollution control, and will be welcomed by environmental and resource economists as well as microeconomists with an interest in environmental issues.Trade Review'I am sure that, for an economist, this text will contribute a great deal to the debate on welfare economic techniques for reducing pollution from firms. The style of the book is very technical and will be welcomed by specialists in the field of environmental and resource economics.'Table of ContentsContents: Part I: Controlling Pollution by Adjusting the Combination of Goods Produced Part II: Controlling Pollution by Preventing or Abating Emissions and by Adjusting the Combination of Goods Produced Part III: Controlling Pollution by Avoiding Exposure, by Preventing or Abating Emissions, and by Adjusting the Combination of Goods Produced Index

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Book SynopsisThis ground-breaking book focuses on neo-Austrian capital theory and its application to the modelling of long-run economy-environment interactions.The book begins by presenting an overview of the modelling approach and offers an historical survey of capital theory and its development. The authors then provide a detailed introduction to the neo-Austrian modelling technique and extend it to include time horizons and growth models. The model is then applied to environmental issues such as green national accounts, resource rents and climate change to show how the neo-Austrian approach gives fresh and illuminating insights. An empirical application to the iron and steel industry is also presented.Capital and Time in Ecological Economics will be of interest to ecological and environmental economists, economic capital theorists and all those following developments in the neo-Austrian approach to economics.Trade Review'This book is a wonderfully clear presentation of Neo-Austrian capital theory with extensions to economies which use natural resources, which emit pollution, and which have recycling possibilities. It will be of interest to economists interested in capital theory and to environmental economists interested in finding non-neoclassical tools with which to analyze environmental problems. . . Overall, this volume represents an excellent introduction to neo-Austrian capital theory, an ambitious attempt to incorporate environmental degradation and natural resource depletion into a neo-Austrian model, and a strong argument for considering activity analysis instead of smooth production functions in both theoretical and applied economics.' -- G.A. Lozada, Journal of Economics / Zeitschrift fur NationalokonomieTable of ContentsContents: Preface Part I: Introduction and History 1. The Nature of the Approach 2. Historical Background to Neo-Austrian Capital Theory Part II: The Neo-Austrian Approach 3. Neo-Austrian Capital Theory: The 3-Sector, 2-Period Model 4. Extending the Time Horizon Part III: Extensions to the Neo-Austrian Approach 5. The Innovation of Techniques and the Time Horizon 6. A Comparison Between Neoclassical and Neo-Austrian Growth Models Part IV: Introducing the Environment into the Neo-Austrian Model 7. National Accounting, Time and the Environment 8. Natural Resource Rents and Economic Dynamics 9. Climate Change and Economic Development Part V: Further Neo-Austrian Environmental Models 10. A Neo-Austrian Model with Pollution and Resources 11. Introducing Recycling into the Neo-Austrian Model 12. The Iron and Steel Industry: A Neo-Austrian Interpretation References Index

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Book SynopsisThis timely volume provides a second collection of Thomas Humphrey's papers in the area of the history of economic thought and is a long-awaited companion to his critically acclaimed first volume of essays Money, Banking and Inflation. Unlike the first volume, this book does not focus specifically on traditional central bank concerns but addresses key concepts, theories and tools in the area of money, exchange and production which have proved indispensable to the development of economics. Each essay focuses on a prominent theory or tool, examines its essential elements, identifies its origins and traces its development across a succession of economists, problems, controversies and applications. In this way, the book shows how the history of economic thought can be illustrated through the development of tools and concepts rather than through schools of thought and prominent individuals. This outstanding collection will be invaluable to historians of economic thought as well as to students and scholars of methodology, philosophy and monetary and financial economics.Table of ContentsContents: Preface Part I: Monetary Theory 1. The Origins of Velocity Functions 2. Fisher and Wicksell on the Quantity Theory 3. John Wheatley’s Theory of International Monetary Adjustment Part II: Geometry of Exchange (Trade) and Production 4. When Geometry Emerged: Some Neglected Early Contributions to Offer-Curve Analysis 5. The Early History of the Box Diagram Part III: Algebraic Production Functions 6. Algebraic Production Functions and their uses before Cobb-Douglas Index

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Book SynopsisThis important volume sheds new light on the ideas and policies of John Maynard Keynes. It presents nineteen contributions from an outstanding group of international economists who aim to understand Keynes as an economist whose work is still influential in both academic research and in more popular economic thought. Although it is over fifty years since John Maynard Keynes passed away, and over sixty years ago that The General Theory was published, his ideas and policies continue to exert an enormous influence on academic economics, as well as being used to solve economic problems faced in the world today, and no doubt, the years to come. The decline of interest in Keynes and his policies during the 1970s has been replaced in the late eighties and nineties by a revival in academic interest, as well as the use of his policy suggestions to solve current economic problems. Divided into five sections, this book considers not only Keynes's theoretical contributions, but also his policies for money management, unemployment, wages and prices, and global governance and the state. As distinct from most other available volumes, this book examines Keynes's thoughts and policies in the context of the current economic climate as well as from the perspective of future economic problems, and how to remedy them. This important book will be of interest to graduate students, research scholars and academics interested in macroeconomics, the history of economic thought, Keynesian and post Keynesian thought.Trade Review'. . . this volume provides the reader with interesting and thoughtful interpretations.'Table of ContentsContents: 1. Introduction: J.M. Keynes Before and After the General Theory (S. Sharma) Part I: Theoretical Contributions Part II: Global Governance and the State Part III: Unemployment, Wages and Prices Part IV: Money Management Part V: Miscellaneous Index

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Book SynopsisThis impressive book brings together four essays, which along with an insightful introduction from Charles Rowley, provide a robust defence of the concept of classical liberalism in modern 'civil' society. In the first essay, Douglas Rasmussen and Douglas Uyl discuss the basic approaches and principles of liberalism in the post-modern age and show how a moral philosophy can serve to support a political philosophy. They supply a clear, fundamental defence of liberalism in an era which has become sceptical of its doctrines. This is followed by Peter Ordeshook's authoritative analysis of the foundations of democracy, in relation to the demise of communist ideology, particularly in the former Soviet Union. Paul Rubin then examines, from a libertarian perspective, the differing methods and degrees of success of adapting contract law in Russia, the Czech Republic, Hungary and Poland in the wake of political change. Finally, Mwangi S. Kimenyi provides an original study of highly centralized, unitary systems of government and the breakdown of civil society in Sub-Saharan Africa. He argues persuasively that institutional reform involving decentralization and federalism can better accommodate ethnic diversity in the area. With contributions from some of the most eminent scholars in the field, Classical Liberalism and Civil Society provides a rigorous justification of classical liberal polity.Trade Review'. . . a thoughtful philosophical defence of political liberalism.' -- S.D. Jacobitti, ChoiceTable of ContentsContents: On the Nature of Civil Society (C.K. Rowley) Liberalism Defended: The Challenge of Post-Modernity (D.B. Rasmussen and D.J.D. Uyl) Lessons for Citizens of a New Democracy (P.C. Ordeshook) Promises, Promises: Contracts in Russia and Other Post-Communist Economies (P.H. Rubin) Ethnic Diversity, Liberty and the State: The African Dilemma (M.S. Kimenyi)

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Book SynopsisIn the last two decades of the twentieth century evolutionary economics has become one of the most important and exciting developments in social science. It is associated with a huge theoretical, empirical and policy literature. Yet relatively little is known about the development of the foundations of evolutionary economics over the preceding 100 years. The gap is filled by this collection of essays by Thorstein Veblen, John Commons, John Maurice Clark, Alfred Marshall, John Atkinson Hobson, Joseph Schumpeter, Armen Alchian, Edith Penrose, Nicholas Georgescu-Roegen, Friedrich Hayek among others. An original introduction by the editor places these contributions in their historical context.Trade Review'These two volumes do give a substantial picture of the paths and diversions that evolutionary thought has travelled over the past century.' -- John Nightingale, History of Economics ReviewTable of ContentsContents: Introduction Volume I: Part I: The Emergence of Economic Biology in the Nineteenth Century Part II: The ‘Post-Darwinian’ Economics of Thorstein Veblen • Volume II: Part I: The Dark Age of Evolutionism: 1910-1940 Part II: The Re-Emergence of Evolutionary Economics after 1945

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Book SynopsisNicholas Georgescu-Roegen was described by Paul Samuelson as 'an economist's economist'. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the human race will face in the 21st century.The book shows how Georgescu-Roegen constructed nothing less than an almost complete theoretical alternative to neoclassical economics. Although best-known for his later work as an environmentalist and his work on energy and material transformation, Georgescu-Roegen also made seminal contributions to the economic theory of utility and production and is considered to be one of the founders of modern mathematical economics. In this book an internationally acclaimed group of contributors including Joan Martinez-Alier, William H. Miernyk, Herman Daly and Cutler Cleveland present discussions on environmental and energy economics as well as mathematical economics, economic development and peasant economies, and bioeconomics.This book serves as an excellent all-inclusive introduction to the work of one of the great economists of the 20th century. This celebration of the contributions made by Georgescu-Roegen will be of interest to environmental and natural resource economists, as well as social and economic theorists.With a dedication by Wassily Leontief and a foreword by Paul Samuelson.Trade Review'This excellent book reminds us of the vitality and pluralism of a discipline that is under constant fire from its practitioners.'Table of ContentsContents: Foreword by Paul Samuelson 1. Introduction 2. How Long can Neoclassical Economists Ignore the Contributions of Georgescu-Roegen? 3. From Political Economy to Political Ecology 4. Georgescu-Roegen’s Evolutionary Economics 5. Economic Growth Theory and the Georgescu-Roegen Paradigm 6. Nicholas Georgescu-Roegen’s Approach to Economic Value 7. Georgescu-Roegen on Consumer Theory 8. Biophysical Economics 9. From Agrarianism to Entropy 10. Embodied Energy Analysis, Sraffa’s Analysis, Georgescu-Roegen’s Flow–fund Model and Viability of Solar Technology 11. Production and Time 12. A Theory of Resilient Flow–fund Linkages 13. The Passage from Entropy to Thermodynamic Indeterminacy 14. Biophysical Roots of ‘Enjoyment of Life’ According to Georgescu-Roegen’s Bioeconomic Paradigm 15. The Role of Entropy and Energy in Natural Resource Economics 16. Five Conditions for Sustainable Living Systems Bibliography Index

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Book SynopsisThis innovative book offers an original and radical tax policy proposal which can be used to promote growth and stability without affecting income equality.Immediately following the publication of Keynes's General Theory, Kalecki recognized that the theory of tax had to be re-thought, as aggregate income could no longer be thought of as fixed with respect to tax-induced changes in aggregate demand. To this day, orthodox tax policy analysis continues to ignore aggregate demand effects. The authors consider this orthodox approach to be deficient, and show how tax policies can promote growth without having a negative impact on equity. They incorporate Kalecki's theory of tax incidence into an analysis of income determination, income distribution, investment, business cycles, and growth. In addition, they examine the incidence of the corporate profits tax and the macroeconomic and regional incidence, and effects of local taxation.A Dynamic Theory of Taxation will be a welcome addition to the literature and will be of interest to tax policy analysts and government policy advisors, as well as scholars working in the fields of public finance, post Keynesian and Kaleckian economics.Trade Review'This academic book provides a new perspective on public finance. . . . This text should be of interest to public economists, policy analysts and government.'Table of ContentsContents: 1. The Rationale for Kaleckian Tax Analysis 2. Integrating Kalecki’s Theories of Taxation and Income Determination 3. Taxation and Kalecki’s Theory of the Business Cycle 4. The Long-Run Effects of Taxation in a Kaleckian Model 5. The Incidence of the Corporate Profits Tax 6. The Impact of Taxation on Gross Private Non-Residential Fixed Investment 7. The Short-Period Macroeconomic Incidence and Effects of State and Local Taxes 8. The Macroeconomic and Regional Effects of National and Local Taxation: A Kaleckian Approach 9. Conclusion: Policy Implications Index

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Book SynopsisEconomists need to understand some fundamental aspects of science in order to measure and analyse the process of technological change. This book explores the interrelationships between economics, science and technology in order to find ways of improving economists' approaches to technical change. Dr Payson begins by offering a scientific critique of economic discourse and presents a unique, unconstrained and critical view of the behavioral differences between economists and scientists. The economic literature on technological change is analysed in order to assess economists' approach to science. The author then offers concrete solutions for the useful economic study of technological change including alternative methods of classifying data based on scientific principles, a characteristics approach to measuring physical capital, and a futuristic exploration into how artificial intelligence may improve economics.Trade Review'A major novelty of the book lies in its use of refreshingly new evidence from the natural sciences to question the scientific status of orthodox economics. . . . Readers who are interested in methodological issues in economics will find much of the book a very good read.'Table of ContentsContents: Preface Part I: A Scientific Critique of Economic Discourse 1. Economics of Science versus Science of Economics 2. The Difference in Behavior Between Economists and Scientists 3. Measurement in Economics Must be Taken More Seriously Part II: Economic Literature on Scientific Advancement, Technological Change and Related Topics 4. Science as a Public Good 5. Subfields on the Economic Effects of Scientific Research 6. Economic Literature on Technological Change Part III: New Attitudes, Philosophies, Frameworks and Models 7. Product Evolution and the Case for Function-Based Classification 8. Business Interests in Scientific Discoveries 9. Capital Input – It Need Not be Metaphysical 10. Conclusion References Index

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Book SynopsisThis book represents the full spectrum of Alan Walters's contribution to economics over thirty years, from academic debate to close involvement in British policy making. It includes not only his earlier contributions to applied monetary economics but also his work on political economy which generated much interest following his appointment as economic adviser to Margaret Thatcher. The volume charts the development of Alan Walters's thinking on money, monetary policy and macroeconomics. It makes special reference to his work on the demand for money and the money multiplier, money and the business cycle and the political economy of money. The book opens with an introduction by Kent Matthews in which he provides an overview of Alan Walters's work in the context of the so-called 'monetarist counter-revolution'. He also offers an introductory discussion on each of the essays, which include: the quantity theory of money, consistent expectations, the time lag effects of money, supply-side policies, foreign exchange rates and anti-inflation policies. These essays offer important policy prescriptions, some of which are particularly timely in the light of increasing European economic and monetary integration.The Economics and Politics of Money will be welcomed by business and government as well as professional economists, social scientists and researchers interested in monetary economics and political economy.Table of ContentsContents: Introduction by Kent Matthews Part I: The Demand for Money and the Money Multiplier Part II: Money and the Business Cycle Part III: Political Economy Index

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Book SynopsisThis important two volume work includes a comprehensive introduction to the literature by the editors and contains the major articles on economic justice written during the last 50 years.Volume I focuses on the political and philosophical foundations on the economic justice. Volume II places special emphasis on the issues surrounding the implementation and practice of justice in modern economic systems.This authoritative collection will be an essential reference source for students, instructors and researches concerned with the study of economic justice.Table of ContentsContents: Introduction Volume I: Part I: Perspectives Part II: Conceptual Foundations Part III: Models of Economic Justice • Volume II: Part I: Equality Part II: Redistribution Through the Fiscal System Part III: Distributional Preference

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Book SynopsisRapid technological developments in communications and transportation, economic liberalization and the emergence of new economies with vast market potential have changed the shape of international production. This scholarly selection of articles represents some of the most important contributions to an understanding of this ongoing, global economic restructuring and its impact on the geographic configuration of production and the economic competitiveness of nations in the world economy.Trade Review'The 29 contributions in volume 3 provide an excellent overview of the theoretical and empirical economics literature on global economic restructuring and changes in industrial location and competitiveness.' -- Journal of Peace ResearchTable of ContentsContents: Introduction Part I: Origins of Structural Change: Marshallian Agglomeration and Schumpeterian Innovation Part II: The Role of the Multinational in Global Agglomeration Part III: Synergies Between MNEs and Local Firms Part IV: Government Policies, Industry Location and National Competitiveness Part V: The Unfolding Pattern

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Book SynopsisEconomic Science and Practice seeks to bridge the gulf between economic theory and policy and overcome some of the problems created by the specialized nature of much economic research. A distinguished group of academic economists and experienced policymakers, from both Europe and the United States, sheds new light on the relation between theory and practice and reflects on the current state of economics. There is an ever present danger that modern economic theory is becoming too detached from the real world. In contrast to this concern there are those who argue that there is a risk of practitioners and policymakers relying on pre-scientific ideas or ideologies not tested against the latest scientific insights. This book will not only help to improve communication between scientists and policymakers, but will also show how it is possible to strengthen the scientific base of economic policy and improve the social relevance of economic research and education.Trade Review'This book is the latest contribution to the "state of economics" literature. It approaches this through asking about the usefulness of academic economics for policymaking. This turns out to be a fruitful approach. . . these papers are useful - all offer much food for thought and are well worth reading. . . . the book is very readable, full of ideas, and well worth studying. Any student who is entering economics in the hope of contributing to debates over economics policy would be well advised to read it.'Table of ContentsContents: 1. Introduction: High Tech or Human Capital? Part I: Economic Role Models 2. Economists: First Semester, High Flyers and UFO’s (B. Frey and R. Eichenberger) 3. Users and Abusers of Economic Research (R. Portes) 4. Blood is Thicker than Water: Economists and the Tinbergen Legacy (H.P. van Dalen and A. Klamer) 5. Economists as Advocates: The Art of Making a Case (J.J.M. Theeuwes) Part II: Case Studies in Policy Analysis 6. Industrial Organization and Competition Policy: What are the Links? (A. Jacquemin) 7. Why Does Economics only help with Easy Problems? (T.C. Schelling) Part III: Economics and Society 8. The Proper Role of Theory (E. Malinvaud) 9. The Policymaker’s Demand for Economic Analysis (L. Ad Geelhoed) 10. Why Things are Different Index

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Book SynopsisThis three volume set offers an extensive collection of the most significant articles which investigate the foundations of past and current thinking on regulatory economics. The papers cover more than 150 years of contributions to the subject and range from the earliest discussions of controlled markets to some very recent developments. The emphasis of the volumes is on historical, conceptual and empirical studies of regulation: Volume I is devoted to the origins and development of regulatory theory and practice; Volume II examines contemporary theories of regulation; and Volume III addresses issues related to regulation and deregulation and offers some empirical studies of the effects of regulation in past and present markets.In addition to a comprehensive guide to the articles included in his selection, the editor has also written a scholarly introduction, which provides the reader with a short history of the development of ideas on regulatory economics and the establishment of institutions connected with regulation.Table of ContentsContents: Volume I: Introduction Part I: The Beginnings Part II: Early Theories of Railway Regulation Part III: The Early Theory of Price Discrimination and Regulation Part IV: The Development of Marginal Cost Pricing Part V: Joint Cost and Peak Load Pricing • Volume II: Part I: Cracks in the Mirror Part II: The New Theory of Regulation Part III: Contracts and Franchise Bidding Part IV: Externalities, Market Failure and Regulatory Responses • Volume III: Part I: Contemporary Issues in Regulatory Economics Part II: Regulation and Deregulation Part III: Empirical Studies of Regulatory Effects Part V: Historical Studies of Regulation

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Book SynopsisThis challenging book extends standard economic theory to take into account the presence of heterogeneity among economic agents. It argues for an approach to economic analysis which regards the economy as an interactive system with heterogeneous agents and not simply a system which treats aggregates as some 'representative' individual.The authors consider that no sector of the economy can be treated as behaving like a single individual and each sector should be modelled as a complex interactive system. They apply this approach to many macro- and micro- analyses including monetary policy and firms, technological innovation and the insider-outsider model. In conclusion the authors find that this approach proves much more fruitful in explaining empirical phenomena than much of the existing theory. The result of this approach to economic theory which encompasses many realistic features, provides a vision of the economy which is not at odds with common sense, but which does not abandon rigorous analysis.This important book will be welcomed by those interested in both macro and micro economic theory.Trade Review'Interested economists without a background in this material . . . will find a clearly presented introduction to modelling macroeconomics based on social interaction and heterogeneous agents. . .' -- Jenny Miner, Journal of Economic LiteratureTable of ContentsContents: Introduction 1. Interaction and Market 2. Tutorial on Social Interaction Economics 3. Multilevel Interactions with a Keynesian Flavour in a Stochastic Macroeconomic Model 4. Economic Theory and ‘Conformism’ 5. Firms’ Size and Monetary Policy 6. Agents’ Heterogeneity and Coordination Failure 7. Compartmental Analysis of Economic Systems with Heterogeneous Agents 8. Macroeconomic Fluctuations and Heterogeneous Agents 9. Fluctuations and Growth Due to Technological Innovation and Diffusion 10. Hysteresis and Economics 11. An Insider-Outsider Model with Non-Trivially Heterogeneous Labour Force 12. Agents’ Heterogeneity, Financial Fragility, and Learning Index

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Book SynopsisThis authoritative collection brings together 100 key articles on the subject of the welfare state selected by one of the world's leading experts. The first volume discusses the economic theory and related matters which underpin analysis of the welfare state. Volume II is about income transfers, especially social security benefits and poverty relief. Volume III looks at benefits in kind, particularly health care and education.This important work provides an analytical background to the subject whilst illustrating the vast array of literature available. It will be invaluable to students and professionals alike.Table of ContentsContents Volume I: Theory Acknowledgements Introduction Nicholas Barr PART I SETTING THE SCENE 1. Howard Glennerster (1995), ‘The Life Cycle: Public or Private Concern?’ 2. Gøsta Esping-Andersen (1996), excerpt from ‘After the Golden Age? Welfare State Dilemmas in a Global Economy’ 3. Nicholas Barr (1992), ‘Economic Theory and the Welfare State: A Survey and Interpretation’ PART II POLITICAL AND ETHICAL PERSPECTIVES 4. Lionel Robbins (1938), ‘Interpersonal Comparisons of Utility: A Comment’ 5. Amartya Sen (1970), ‘The Impossibility of a Paretian Liberal’ 6. Samuel Brittan (1995), ‘Choice and Utility’ 7. Samuel Gorovitz (1975), ‘John Rawls: A Theory of Justice’ 8. F.A. Hayek (1976), excerpt from ‘"Social" or Distributive Justice’ 9. Julian Le Grand (1984), ‘Equity as an Economic Objective’ 10. Amartya Sen (1984), ‘Ethical Issues in Income Distribution: National and International’ PART III ACHIEVING EFFICIENCY: THE ROLE OF MARKETS A Market Success 11. Arthur M. Okun (1975), ‘The Case for the Market’ B Market Failure 12. Bruce C. Greenwald and Joseph E. Stiglitz (1986), ‘Externalities in Economies with Imperfect Information and Incomplete Markets’ 13. Kenneth J. Arrow (1963), ‘Uncertainty and the Welfare Economics of Medical Care’ 14. George A. Akerlof (1970), ‘The Market for "Lemons": Quality, Uncertainty and the Market Mechanism’ 15. Mark V. Pauly (1974), ‘Overinsurance and Public Provision of Insurance: The Roles of Moral Hazard and Adverse Selection’ 16. Michael Rothschild and Joseph Stiglitz (1976), ‘Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information’ 17. Joseph E. Stiglitz (1983), ‘Risk, Incentives and Insurance: The Pure Theory of Moral Hazard’ 18. Assar Lindbeck (1997), ‘Incentives and Social Norms in Household Behavior’ C Public Choice and Government Failure 19. Dennis C. Mueller (1997), ‘Public Choice in Perspective’ 20. James M. Buchanan (1962), ‘The Relevance of Pareto Optimality’ 21. Patrick Dunleavy (1985), ‘Bureaucrats, Budgets and the Growth of the State: Reconstructing an Instrumental Model’ 22. Julian Le Grand (1991), ‘The Theory of Government Failure’ PART IV POVERTY AND INEQUALITY: CONCEPTUAL ISSUES A Poverty 23. A.B. Atkinson (1989), ‘How Should We Measure Poverty? Some Conceptual Issues’ 24. Amartya Sen (1976), ‘Poverty: An Ordinal Approach to Measurement’ 25. Anthony F. Shorrocks (1995), ‘Revisiting the Sen Poverty Index’ 26. A.B. Atkinson (1987), ‘On the Measurement of Poverty’ 27. Meghnad Desai (1984), ‘A General Theory of Poverty? A Review Article’ B Income Inequality 28. Jan Pen (1971), ‘A Parade of Dwarfs (and a few Giants)’, excerpt from ‘Some Facts to be Explained’ 29. Peter Wiles (1974), excerpt from ‘The Distribution of Wages per Earner and of Income per Head in the U.S.S.R.’ 30. Arthur M. Okun (1975), ‘The Leaky-Bucket Experiment’ and ‘Inspecting the Leakages’ 31. A.B. Atkinson (1980), ‘On the Measurement of Inequality’ C Other Dimensions of Inequality 32. Richard Vaughan (1988), ‘Distributional Aspects of the Life Cycle Theory of Saving’ 33. Edwin Cannan (1928), ‘Inequality Between the Sexes’ 34. P.F. Apps and R. Rees (1996), ‘Labour Supply, Household Production and Intra-family Welfare Distribution’ 35. Jane Lewis (1992), ‘Gender and the Development of Welfare Regimes’ Name Index Volume II: Income Transfers Acknowledgements An introduction by the editor to all three volumes appears in Volume I PART I CONSUMPTION SMOOTHING AND INSURANCE A Social Insurance 1. A.B. Atkinson (1989), ‘Social Insurance and Income Maintenance’ 2. Samuel Brittan (1995), ‘Basic Income and the Welfare State’ 3. Jane Falkingham and John Hills (1995), ‘Redistribution Between People or Across the Life Cycle?’ B The Economics of Pensions 4. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money’ 5. Henry Aaron (1966), ‘The Social Insurance Paradox’ 6. Nicholas A. Barr (1979), ‘Myths My Grandpa Taught Me’ 7. Lawrence H. Thompson (1998), ‘Overview and Summary’ 8. P.A. Diamond (1977), ‘A Framework for Social Security Analysis’ C The Debate Over Pension Reform 9. Jonathan Gruber and David Wise (1998), ‘Social Security and Retirement: An International Comparison’ 10. Zvi Bodie, Alan J. Marcus and Robert C. Merton (1988), ‘Defined Benefit versus Defined Contribution Pension Plans: What Are the Real Trade-offs?’ 11. Peter A. Diamond (1998), ‘The Economics of Social Security Reform’ 12. Henry J. Aaron and Robert D. Reischauer (1998), ‘The Case for Preserving Social Security: How Should It Be Done?’ 13. Martin Feldstein (1996), ‘The Missing Piece in Policy Analysis: Social Security Reform’ 14. Peter A. Diamond (1996), ‘An Economist’s Perspective’, excerpt from ‘Social Security Reform in Chile: Two Views’ PART II POVERTY RELIEF, DISTRIBUTION AND REDISTRIBUTION A Targeting 15. Burton A. Weisbrod (1969), ‘Collective Action and the Distribution of Income: A Conceptual Approach’ 16. George A. Akerlof (1978), ‘The Economics of "Tagging" as Applied to the Optimal Income Tax, Welfare Programs, and Manpower Planning’ 17. Timothy Besley and Ravi Kanbur (1993), ‘The Principles of Targeting’ 18. Nicholas Stern (1982), ‘Optimum Taxation with Errors in Administration’ 19. Albert L. Nichols and Richard J. Zeckhauser (1982), ‘Targeting Transfers through Restrictions on Recipients’ B Measuring Income Poverty 20. Alan Gillie (1996), ‘The Origin of the Poverty Line’ 21. Martin Ravallion (1996), ‘Issues in Measuring and Modelling Poverty’ 22. Shubham Chaudhuri and Martin Ravallion (1994), ‘How Well Do Static Indicators Identify the Chronically Poor’ 23. Peter Gottschalk (1997), ‘Inequality, Income Growth and Mobility: The Basic Facts’ 24. W. Beckerman (1979), ‘The Impact of Income Maintenance Payments on Poverty in Britain, 1975’ C Measuring Inequality 25. A.B. Atkinson (1997), ‘Bringing Income Distribution in from the Cold’ 26. A.B. Atkinson, Lee Rainwater and Tim Smeeding (1995), ‘Income Distribution in European Countries’ 27. Peter Gottschalk and Timothy M. Smeeding (1997), ‘Cross-National Comparisons of Earnings and Income Inequality’ 28. Edward N. Wolff (1996), ‘International Comparisons of Wealth Inequality’ D Charity 29. Robert Sugden (1982), ‘On the Economics of Philanthropy’ 30. James Andreoni (1990), ‘Impure Altruism and Donations to Public Goods: A Theory of Warm-glow Giving’ 31. Richard M. Titmuss (1970), excerpt from ‘Who is My Stranger?’ 32. Julian Le Grand (1997), ‘Afterword’ Name Index Volume III: Benefits in Kind Acknowledgements An introduction by the editor to all three volumes appears in Volume I PART I HEALTH AND HEALTH CARE A Health 1. Robert G. Evans (1996), ‘Health, Hierarchy and Hominids – Biological Correlates of the Socioeconomic Gradient in Health’ 2. Richard Wilkinson (1996), ‘The Social Economy of Health’ 3. Judith Shapiro (1995), ‘The Russian Mortality Crisis and Its Causes’ 4. Julian Le Grand (1987), ‘Inequalities in Health: Some International Comparisons’ 5. John Broome (1978), ‘Trying to Value a Life’ James M. Buchanan and Roger L. Faith (1979), ‘Trying Again to Value a Life’ M.W. Jones-Lee (1979), ‘Trying to Value a Life: Why Broome Does Not Sweep Clean’ Alan Williams (1979), ‘A Note on ‘Trying to Value a Life’’ John Broome (1979), ‘Trying to Value a Life: A Reply’ B The Economics of Health Care 6. Henry Aaron (1981), ‘Economic Aspects of the Role of Government in Health Care’ 7. Julian Le Grand (1996), ‘Equity, Efficiency and Rationing of Health Care’ 8. Robert G. Evans (1974), ‘Supplier-Induced Demand: Some Empirical Evidence and Implications’ C Allocating Health Care Resources Efficiently 9. Victor R. Fuchs (1996), ‘Economics, Values, and Health Care Reform’ 10. Howard Glennerster and Julian Le Grand (1995), ‘The Development of Quasi-Markets in Welfare Provision in the United Kingdom’ 11. Alan Williams (1985), ‘Economics of Coronary Artery Bypass Grafting’ 12. Bernie J. O’Brien, Martin J. Buxton and Brian A. Ferguson (1987), ‘Measuring the Effectiveness of Heart Transplant Programmes: Quality of Life Data and Their Relationship to Survival Analysis’ 13. Michael Parsonage and Henry Neuburger (1992), ‘Discounting and Health Benefits’ D The Distribution of Health Care 14. A.J. Culyer and Adam Wagstaff (1993), ‘Equity and Equality in Health and Health Care’ 15. Eddy van Doorslaer, Adam Wagstaff et al (1992), ‘Equity in the Delivery of Health Care: Some International Comparisons’ 16. Adam Wagstaff, Eddy van Doorslaer et al (1992), ‘Equity in the Finance of Health Care: Some International Comparisons’ PART II EDUCATION A The Economics of Education 17. Mark Blaug (1976), ‘The Empirical Status of Human Capital Theory: A Slightly Jaundiced Survey’ 18. Mark Blaug (1985), ‘Where Are We Now in the Economics of Education?’ 19. Joseph E. Stiglitz (1975), ‘The Theory of "Screening", Education, and the Distribution of Income’ B School Education 20. Mark Blaug (1984), ‘Education Vouchers – It All Depends on What You Mean’ 21. Howard Glennerster (1991), ‘Quasi-markets for Education?’ 22. Dennis Epple and Richard E. Romano (1998), ‘Competition Between Private and Public Schools, Vouchers, and Peer-Group Effects’ 23. Eric A. Hanushek (1986), ‘The Economics of Schooling: Production and Efficiency in Public Schools’ 24. Eric A. Hanushek (1996), ‘Measuring Investment in Education’ 25. Christopher Jencks and Meredith Phillips (1998), ‘The Black-White Test Score Gap’ 26. Claude S. Fischer, Michael Hout, Martín Sánchez Jankowski, Samuel R. Lucas, Ann Swidler and Kim Voss (1996), excerpts from ‘Why Inequality?’, and ‘Race, Ethnicity, and Intelligence’ C Financing Higher Education 27. Nicholas Barr (1998), ‘Higher Education in Australia and Britain: What Lessons?’ 28. W. Lee Hansen and Burton A. Weisbrod (1969), ‘The Distribution of Costs and Direct Benefits of Public Higher Education: The Case of California’ 29. Milton Friedman (1962), ‘The Role of Government in Education’ 30. Howard Glennerster, Stephen Merrett and Gail Wilson (1968), ‘A Graduate Tax’ 31. Nicholas Barr (1991), ‘Income-contingent Student Loans: An Idea Whose Time has Come’ 32. Paul Grout (1983), ‘Education Finance and Imperfections in Information’ 33. Bruce Chapman (1997), ‘Conceptual Issues and the Australian Experience with Income Contingent Charges for Higher Education’ Name Index

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