Economics Books

Book SynopsisTrade ReviewCo-Winner of the 2016 Schumpeter Prize Competition, International Joseph A. Schumpeter Society "Essential reading for anyone who wants to understand the broader context in which the explosion of Internet-related innovation occurred."--Marc Levinson, Wall Street Journal "A welcome, well-conceived contribution to the history of technology."--Kirkus "Exciting reading."--Borsen "Definitely recommended."--Tyler Cowen, Marginal Revolution "This is the best book yet about the rise of the Internet."--David Warsh, Economic Principals "[A] detailed history of the Internet."--Foreign Affairs "Immensely informative."--Philadelphia Inquirer "Greenstein is not simply telling a colorful and important story. His analysis systematically explores why innovation and commercialization of the Internet emerged and evolved as it did and why innovation from the edges thrived and was so important."--Jonathan David Aronson, Journal of CommunicationTable of ContentsINTRODUCTION 1 1 Ubiquitous Clicks and How It All Started 3 THE TRANSITION 31 2 The White House Did Not Call 33 3 Honest Policy Wonks 65 4 A Taste of Champaign 97 5 Unleashing Commercial Iconoclasts 130 THE BLOSSOMING 157 6 How Not to Start a Gold Rush 159 7 Platforms at the Core and Periphery 187 8 Overcoming Two Conundrums 215 9 Virulent Word of Mouse 243 10 Capital Deepening and Complements 272 EXPLORATION AND RENEWAL 301 11 Bill Votes with a Veto 303 12 Internet Exceptionalism Runs Rampant 335 13 The Paradox of the Prevailing View 365 14 The High Cost of a Cheap Lesson in Wireless Access 392 EPILOGUE 417 15 Enabling Innovation from the Edges 419 Acknowledgments 443 References 447 Index 465

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Book SynopsisThe untold story of how FDR did the unthinkable to save the American economy.Trade Review"Brilliantly told."—Steve Hanke, Forbes“A superb history.”—David Frum“The story is fascinating and the lessons eternal.”—Martin Wolf, Financial Times“American Default is the history of that mighty legal, moral, political and monetary controversy, the effects of which are with us still.”—James Grant, Wall Street Journal“A magnificent piece of scholarship . . . [that] illustrates the benefits of historical distance in evaluating major events.”—Kenneth Rogoff, Project Syndicate“Admirably accessible and illuminating.”—Benn Steil, Financial World

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Book SynopsisTrade Review"Finalist for the Best Book Published by a University Press, Digital Book World Awards""Longlisted for the getAbstract International Book Award""Winner of the PROSE Award in Economics, Association of American Publishers""Co-Winner of the Gold Medal in Economics, Axiom Business Book Awards""One of the Financial Times' Best Books of 2019: Economics""One of Prospect's Best Economics Books of 2019""An Economist Book of the Year""Mind-opening Business Books of 2019""One of Mint's Books of 2019 You Should Not Miss""A Project Syndicate Best Read in 2019""Shiller is one of the world’s most original economists. . . . Stories allow human beings to make sense of an uncertain world. But they also drive economies into booms and busts. Armed with this understanding, we gain a far richer understanding of how economies behave."---Martin Wolf, Financial Times"Shiller’s thorough discussion and many examples are certainly convincing as to the importance of narratives in individual economic decision-making and aggregate economic phenomena."---Sonia Jaffe, Science"Economics is the study of people at work, but where are the people? Many a learned economist forgets all about them. Not Robert Shiller, the author of Narrative Economics, who believes that volatile human emotion counts for more than you think in the ostensibly objective valuation of stocks, bonds and buildings."---James Grant, Wall Street Journal"[Shiller] explores how the public’s subjective perceptions can shape economic trends. . . . A sensible and welcome escape from the dead hand of mathematical models of economics." * The Economist *"A magisterial account . . . . In some ways . . . a bigger challenge to the foundations of economics than behavioral economics."---Steve Denning, Forbes"The idea that human behaviour can exert its own influence in the market is something that most traders wouldbuy into. . . . But in Narrative Economics, Shiller goes much broader and deeper, looking at how the stories we tell ourselves about the world drive our behaviour. . . . Economists, he argues, need to study this if they are to have any hope of doing a better job than they have in the past of predicting major events . . . and how people react to them."---Rana Foroohar, Financial Times"Provocative . . . . Especially timely in the current social media-obsessed era, because narratives—both real and false—can spread globally with just a few swipes, affecting not just economic activity, but ultimately the balance of geopolitical power."---Matt Schifrin, Forbes"Many economists argue that the US housing market and economy are still on solid foundations, but ignoreShiller’s warnings at your peril. He rarely gets it wrong."---Tom Rees, The Telegraph"Excellent."---Gillian Tett, Financial Times"[Shiller aims] to identify the enduring narratives that influence the way we think about the economy, and may influence our patterns of spending and saving, and therefore become self-fulfilling prophecies . . . the results are fascinating, and sometimes startling."---Howard Davies, Prospect"Shiller argues forcefully."---Chris Johns, Irish Times"Any given scenario can allow for multiple narratives, both actual and potential. The question is why some prove more compelling than others. Shiller offers a range of answers, starting with the most obvious: a narrative is compelling when it is engaging and well expressed. Because his book is very well written, Shiller himself has satisfied this criterion."---Barry Eichengreen, Project Syndicate"Shiller has none of the salesman-like bluster of the stock pickers clamouring for attention on businessTV news . . . . As it is, he has only 40-odd years of being freakishly right about things. It will have to do."---David Morris, Financial News"Highly readable, compelling."---Steve Levine, Medium"The book is . . . good fun to read. It is full of amusing and apposite quotations, and interesting detail."---Charles Goodhart, Central Banking Journal"Shiller’s book is a spectacular effort at unifying distinct fields and encouraging the profession to be ever more capacious in its approach to phenomena and methodology."---Mihir Desai, Times Higher Education"What’s surprising, perhaps, is that the gearheads in academic economics departments may finally be getting wind of all this. If they are, much of the credit must go to Robert J. Shiller, the Yale economist who won the Nobel Prize in his field in 2013. Shiller’s iconoclastic new book, Narrative Economics, ranges across disciplines to explore the role of narratives in explaining (as the subtitle has it) 'how stories go viral and drive major economic events'."---Daniel Akst, Strategy+Business"This book about the economic significance of viral stories has a great potential to become a viral story itself."---Gábor István Bíró, Metascience"If we are going to win the war for reason and evidence, if we are going to stop humans from wiping out entire species and cities, economists and humanists are going to need to create more bridges across the disciplinary chasms. The proposal to focus on narratives and their powers is spot on. Robert Shiller gets us going."---Jeremy Adelman, Public Books"This is a must read."---Vivek Kaul, Mint"The Nobel Prize-winning economist Robert Shiller defends the skills learned by English majors and other liberal arts graduates in his new book, Narrative Economics. Such graduates have highly developed critical-thinking and analysis skills in the narrative storylines that help people guide their way through complex personal and organizational relationships."---C. Ronald Kimberling, The Hill"Much of the book . . . . is an enjoyable and well-informed description of such narratives. I especially liked his discussion of bimetallism, wherein he shows that Brexit is not the first debate about an abstruse issue which triggered a culture war."---Chris Dillow, Stumbling & Mumbling"An engaging scholarly study of the stories we tell about economic events—stories that go viral, for better or worse . . . . Of immense value to economists and policymakers working on the behavioral side of the field." * Kirkus Reviews *"[A] highly readable introduction to narrative economics . . . . Readers can readily identify with the examplesgiven in this book and will gain a much better understanding of the role of stories, especially in view of the speed of modern contagions."---David Lorimer, Paradigm Explorer"Narrative Economics is an eloquent and accessible exposition of a seductive idea. It’s a particularly compelling hypothesis."---Tim Jackson, Nature"Narratives are important and enduring, as Professor Shiller’s entertaining book reminds us."---David Smith, The Times"This book alone should be enough to convince readers that assumptions about “given” preferences and “rational” utility-maximizing actors are totally inadequate for predicting economic and social events."---Kemal Derviş, Project Syndicate"An uncannily prescient book for the current moment."---Chris Taylor, Reuters"By emphasizing narratives, Shiller aims to mount a fundamental challenge to standard economic thinking—and to open up new territory for analysis. Narrative Economics was published before the novel coronavirus struck, but in a sense thepandemic is an important point in his argument’s favor. . . . Shiller is right to suggest that narratives can be uniquely memorable and influential, because they focus people’s attention and move their emotions in ways that abstractions usually do not."---Cass R. Sunstein, New York Review of Books"The subject deserved a treatise by a brilliant author, and Robert Shiller delivered. Economic science would benefit immensely if the ideas from this book were to go viral themselves."---Josip Lucev, International Studies

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Book SynopsisA prescient exploration of the financial crisis.

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Book SynopsisTable of ContentsPrefaceAbbreviationsChapter 1. University Financial Management Chapter 2. Principles of Accounting Chapter 3. IncomeChapter 4. ExpensesChapter 5. Capital AssetsChapter 6. BudgetsChapter 7. Financial ReportsChapter 8. Grants and ContractsChapter 9. Indirect CostsChapter 10. Institutional Financial StrategiesIndex

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Book SynopsisAngell at 100: A Century of Compassionate Care for Animals and Their Families at Angell Animal Medical Center chronicles the achievements of one of the foremost clinical veterinary institutions in the world. Angell Animal Medical Center is the first and largest animal hospital in New England. This book is a celebration of one hundred years of groundbreaking innovation and heartfelt compassion.Founded in 1868 by George Angell, the MSPCA is the second oldest humane organization in America. Its flagship hospital, Angell Animal Medical Center, was founded in 1915, and was the first animal hospital in New England. The MSPCA–Angell has expanded from advocacy and protection to healing and advancing the practice of veterinary medicine. Over the past century the organization has seen vast changes in society, the environment, and the attitude to the animals in our lives. It has helped make laws and set standards that have fundamentally shaped our sense of kindness and care for animals—and for one another.In the 21st century, MSPCA–Angell continues to rescue, shelter, protect, heal, and advocate for animals, giving special care to tens of thousands of animals each year. It also provides emergency assistance and strategic planning help for animal protection groups across the United States and around the globe.This book is a portrait of Angell Animal Medical Center from its founding in 1915 to the present day, and tells the stories of the dedicated doctors, the creative medical innovations, and of course the tales of the diverse patients and their families. Today the hospital has specialties ranging from acupuncture to ophthalmology, from behavioral services to nutrition, from dentistry to neurology and neurosurgery, as well as general medicine. Although the majority of the patients are dogs and cats, birds and rabbits are not uncommon, and there is sometimes even the occasional tortoise.It’s been an extraordinary one hundred years, and here’s to one hundred more.Table of ContentsPart 1: From Protecting to Healing 1915-1976. Part 2 A New Beginning 1976-2000. Part 3 Angell in the 21st Century.

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Book SynopsisIsraeli innovators are making a global impact by feeding the hungry, curing the sick, and protecting the defenseless. Through the spirit of tikkun olam, they are changing lives and solving major challenges with courage and determination. This inspiring read showcases their extraordinary contributions and the power of innovation for a better world.

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Book SynopsisThe New York Times–bestselling author of Nudge reveals how we became so burdened by red tape and unnecessary paperwork—and why we must do better.“If nudges have a mortal enemy, or perhaps the equivalent of antimatter to matter, it’s ‘sludge’.” —ForbesWe’ve all had to fight our way through administrative sludge—filling out complicated online forms, mailing in paperwork, standing in line at the motor vehicle registry. This kind of red tape is a nuisance, but, as Cass Sunstein shows in Sludge, it can also impair health, reduce growth, entrench poverty, and exacerbate inequality. Confronted by sludge, people just give up—and lose a promised outcome: a visa, a job, a permit, an educational opportunity, necessary medical help. In this lively and entertaining look at the terribleness of sludge, Sunstein explains what we can do to reduce it.Beca

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Book Synopsis"How unfair for one man to be blessed with such a torrent of stimulating thoughts. Stimulating is an understatement." —Richard Dawkins A memoir by one of the greatest minds of our age, preeminent philosopher and cognitive scientist Daniel C. Dennett.Trade Review"A delightful memoir from one of our deepest thinkers." -- Kirkus (starred review)"Always an enthusiastic learner with an insatiable curiosity, Dennett’s amiable autodidacticism illustrates a life of the mind intertwined with the rich home life of a true Renaissance man. Highly recommended." -- Booklist (starred review)

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Book SynopsisThe Strategy and Tactics of Pricing is the most well-established and influential strategic pricing text available, relied on by practitioners and students globally as a core guide for value-based pricing. The book explains how to balance the ability to create and extract value through from markets by managing pricing decisions in a more strategic and profitable manner. Rather than calculating prices to cover costs or to achieve sales goals, readers will learn to frame more strategic choices that proactively influence customer perceptions of value, manage internal costs, and profitably shift demand curves.This edition features new discussions on harnessing concepts from behavioral economics as well as a refined value cascade to help organize the topics covered in this book. Readers will also benefit from: Major revisions to more than a third of the chapters, including an expanded discussion of the role of artificial intelligence and machine learning analytics tools to assist in the evaluation of new pricing opportunities Discussion of many of the new pricing and revenue-recognition models such as consumption-based pricing, outcomes-based pricing, and others An expanded discussion on Special Topics in Pricing that cover many of the transformative pricing moves successful companies have made in the past few years in response to major disruptive forces such as the pandemic as well as re-emergent inflation In-chapter textboxes and call-out to highlight different pricing concepts in action using actual examples of companies addressing market challenges Chapter summaries and visual aids to help the reader better understand the ideas and concepts presented throughout this book This comprehensive, managerially-focused text is a must-read for students and professionals with an interest in strategic price management and achieving commercial excellence for their organizations. Additional online resources include PowerPoint slides and an instructorâs manual, including exercises, mini-cases, and examination questions. Trade Review"Excellently written with detailed examples, this book is a must-read for managers wanting to understand the principles behind building a sound pricing strategy. The updated edition adds in materials from current topics that will resonate strongly with all pricing practitioners." Rajeeve Kaul, Corporate Vice President – Global Pricing Officer, McDonald’s Corporation"Still the best pricing book on the planet! The go-to resource for pricing success – powerful, practical, and profitable!" Mark Bergen, James D. Watkins Chair in Marketing, Carlson School of Management, University of Minnesota"The Strategy and Tactics of Pricing is my go-to resource for any type of pricing challenge. It presents a balance of theory and practice and offers pragmatic guidance for pricing professionals and business leaders in today’s rapidly changing environment. I have applied the learnings from this book in hyper-competitive markets and it proved its power every time." Annie X. Wang, Director, Pricing & Analytics, PPG Industries"The Strategy and Tactics of Pricing is a must-read book for professionals in Revenue Management, Sales Enablement, Pricing, and related business fields. The 7th edition includes new information on incorporating today’s economic uncertainty, inflationary pressures, reexamining value propositions, and it also has great case studies to give you and your team the skills necessary to thrive." Kevin Mitchell, President, The Professional Pricing Society, Inc."The outcomes for our commercial teams and enterprises deploying The Strategy and Tactics of Pricing have been and continue to be critical to the success of our multiple businesses. The 7th edition builds on the fundamentals of the excellent previous editions with additional strategies for success in the volatile '20's." Lynn Guinn, Global Strategic Pricing Leader, Commercial Excellence COE, Cargill Table of Contents1. Strategic Pricing 2. Economic Value 3. Price and Value Communication 4. Price Structure 5. Pricing Policy 6. Price Competition 7. Price Level 8. Measurement of Price Sensitivity 9. Financial Analysis 10. Specialized Strategies 11. Creating a Strategic Pricing Capability 12. Ethics and the Law

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Book SynopsisAirline Operations and Management: A Management Textbook presents a survey of the airline industry, with a strong managerial perspective. It integrates and applies the fundamentals of several management disciplines, particularly operations, marketing, economics and finance, to develop a comprehensive overview. It also provides readers with a solid historical background, and offers a global perspective of the industry, with examples drawn from airlines around the world. Updates for the second edition include: Fresh data and examples A range of international case studies exploring real-life applications New or increased coverage of key topics such as the COVID-19 pandemic, state aid, and new business models New chapters on fleet management and labor relations and HRM Lecture slides for instructors This textbook is for advanced undergraduate and graduate students of airline management, but it should also be usTable of ContentsContents List of Figures xiiList of Tables xviiIntroduction xviii1 Historical Perspective 11.1 Transportation and Commerce 11.2 First Airlines 21.3 Early Regulation 31.4 History of British Airways 31.5 U.S. Air Mail 41.6 Economic Regulation 71.7 CAB Economic Regulation 1938 to 1978 81.8 Advances in Aircraft Technology 91.9 Post-War Airline Growth 111.10 The Jet Age 121.11 U.S. Deregulation 151.12 The Airline Deregulation Act of 1978 171.13 Post Deregulation Evolution 181.14 US Deregulation Results 181.15 CAB in Retrospect 191.16 Deregulation in Europe 201.17 Deregulation in China 211.18 Airline Industry Today 231.19 Summary 241.20 References 251.21 Review Questions 282 Supply and Demand for Air Transportation 302.1 Size, Scope and Economic Importance 302.2 Factors Driving Global Air Transportation Growth 322.3 Globalization 322.3.1 Demographics 332.3.2 Liberalization 352.3.3 Factors of Production 362.4 Air Cargo 362.5 Forecasting Air Travel Demand 372.5.1 Macro Forecasting 372.5.2 Route Level Micro Forecasting 402.6 Demand Curve 422.7 Need for Forecasts 472.8 New Route Example 472.9 Summary 502.10 References 522.11 Review Questions 543 Route Structure 553.1 History 553.2 Generic Route Structures 563.3 Point-to-Point 563.3.1 Fast, Cheap and Independent 563.3.1 Limited to Large Markets 573.3.2 Example: Ryanair 573.4 Linear 583.5 Hub-and-Spoke 603.5.1 Operation 603.5.2 Advantages 613.5.3 Disadvantages 643.5.4 Bottom Line 663.5.5 Examples of Hub-and-Spoke Route Systems 663.6 Hub-And-Spoke Variations 673.6.1 Hybrid Route Systems 673.6.2 Multiple Hubs 683.6.3 Directional Hub 693.6.4 Rolling Hub 713.6.5 Tailored Complexes 733.6.6 Legal, Financial, and Capacity Restrictions 743.7 Hub Airport Requisites 743.7.1 Competing H&S Systems 753.7.2 Hub Failures 763.8 Evolving Routes Systems 763.8.1 Southwest Airlines Route System 763.8.2 Delta’s LaGuardia Hub 783.9 Summary 783.10 References 813.11 Review Questions 834 Product Offering 844.1 Strategic Choices 844.1.1The Marketing Concept 844.1.2 Generic Strategies 854.1.3 Industry Evaluation: Porter’s Five Forces 864.2 Dimensions of Product Choice 884.3 Comprehensive Network Carriers 904.3.1 Differentiation 904.3.2 Delta Air Lines 924.4 Regional Airlines 924.4.1 Fleet 944.4.2 Network Extension 944.4.3 Regional Airlines Worldwide 964.4.4 Upheaval 964.5 Low-Cost-Carriers 974.5.1 Business Model 984.5.2 Ancillary Revenues 994.5.3 LCC Examples 1004.5.5 Long-haul LCCs 1014.5.6 LCC within Comprehensive Network Carriers 1024.6 Hybrid Airlines 1034.6.1 Alaska, JetBlue Airways, and Air Berlin 1034.7 Focus Carriers and Tailored Products 1054.7.1 All Inclusive Charter Airlines 1054.7.2 All Business Class Service 1064.7.3 Tailored Products 1064.8 Cargo Airlines 1074.8.1 Combination Carriers 1084.8.2 Integrated Carriers 1084.8.3 All Cargo Airlines 1084.9 Summary 1094.10 References 1134.11 Review Questions 1155 Flight Schedule Development and Control 1165.1 Airline Planning Process 1165.2 Strategic Planning 1175.2.1 Long-Range Plan/Fleet Selection 1175.2.2 Product Planning 1175.3 Flight Schedule Development 1185.3.1 Objectives 1195.3.2 Fleet Assignment 1225.3.3 Trade-offs 1235.3.4 Optimization 1235.3.5 The Passenger Service System 1245.4 Asset Assignment 1255.4.1 Aircraft Assignment 1255.4.2 Aircraft Flow Chart 1265.4.3 Crew Pairings and Bid Lines 1275.5 Tactical Management 1295.5.1 Airline Operations Control Center 1295.5.2 Flight Schedule Disruptions 1315.5.3 Managing Irregular Operations 1315.5.4 Irregular Operations Examples 1335.5.5 Dynamic Scheduling 1345.6 Continuous Improvement 1355.6.1 Goals 1365.6.2 Measurement 1365.6.3 Performance Diagnosis 1375.6.4 Corrective Action 1395.7 Summary 1405.8 References 1415.9 Review Questions 1436 Economics and Finance 1446.1 Profit History 1446.1.1 Cyclical World Airline Profits 1446.1.2 Net Profit Margin 1456.1.3 Profits by World Region 1466.1.4 Return on Invested Capital 1476.2 Earning Profits 1486.3 Revenue Generation 1506.3.1 Yield History 1506.3.2 Fare history 1516.3.3 Revenue Passenger Miles 1536.3.4 Ancillary Revenue 1566.4 Cost Structure 1596.4.1 Labor 1606.4.2 Fuel 1636.4.3 Ownership and Rental Expenses 1666.4.4 Taxes 1666.5 Legacy Carrier Restructuring 1696.6 Fleet Selection 1716.6.1 Range and Payload 1716.6.2 Aircraft Operating Costs 1726.7 Fleet Financing 1766.7.1 Internal Financing 1766.7.2 Debt Financing 1776.7.3 Leasing 1776.7.4 Financing Portfolio 1796.8 Economics of Scale, Scope and Density 1796.8.1 Scale 1806.8.2 Density 1806.8.3 Scope 1806.9 Summary 1816.10 References 1826.11 Review Questions 1867 Pricing and Revenue Management 1877.1 Regulated Prices 1877.2 Objective of Revenue Management 1887.3 Revenue Management Components 1897.3.1 Overbooking 189 7.3.2 Overselling 1917.4 Pricing 1947.5 Revenue Management Product Characteristics 1947.5.1 Seat Allocation 1957.5.2 Price Discrimination 1987.5.3 Market Segmentation 199 7.5.4 Estimating Demand 2017.5.5 Fare Buckets and Fare Nesting 2067.5.6 Expected Booking Updating 2087.5.7 Selling-Up 209 7.5.8 Revenue Enhancement with Revenue Management 2107.6 Network Allocation 2107.6.1 Hidden City Ticketing 2147.7 Revenue Management in Air Freight 2147.8 The Future of Revenue Management 2157.9 Summary 2167.10 References 2177.11 Review Questions 2208 Distribution 2218.1 Airline Distribution History 2228.1.1 The OAG 2238.1.2 Payment 2248.1.3 Ticketing 2248.1.4 The Growth of Travel Agencies 2268.1.5 The Reservisor 2278.1.6 The Magnetronic Reservisor 2288.1.7 Reserwriter 2308.1.8 SABER 2308.1.9 Travel Agents Get Involved 2328.2 The Birth of the Global Distribution System 2348.2.1 CRS Favoritism 2358.2.2 GDS Regulation 2368.3 GDS Mergers, Consolidation and Sell-Off 2388.3.1 European Connections 2398.3.2 Deregulation 2418.4 The Rise of the Internet Changes the GDS Environment 2438.4.1 Airline Internal Reservations Systems 2458.4.2 Shift in Travel Agency Approach 2458.5 The Rise of Online Travel Agencies 2478.5.1 Standard Online Travel Services 2478.5.2 Opaque Travel Services 2498.5.3 Fare Aggregators and Metasearch Engines 2518.5.4 Travel Agents Using GDS Alternatives 2518.6 New Distribution Capability 2528.6.1 Airline Perspective8.6.2 GDS Perspective8.7 Summary 2548.8 References 2578.9 Review Questions 2629 International Air Transportation and Public Policy 2639.1 Air Service Agreements 2639.2 Open Skies 2649.2.1 US Open Skies 2649.2.2 EU Open Skies 2679.2.3 Air Service Liberalization Support and Opposition 2679.3 State-Owned Airlines 2689.4 Global Alliances 2719.4.1 History of the Big 3 Global Airline Alliances 2719.4.2 Marketing and Revenue Benefits 2749.4.3 Operating Benefits 2749.4.4 Antitrust Immunity 2749.4.5 Establishing an Alliance 2759.4.6 Passenger Benefits 2779.4.7 Alliance Instability 2779.4.8 Equity Alliance 2789.5 Consolidation – Mergers and Acquisitions 2799.6 Conclusion 2809.7 References 2819.8 Review Questions 28310 Looking Ahead 28510.1 Cyclical Profits 28510.1.1 Fixed Cost 28610.1.2 Fuel Expenses 28610.1.3 Cost Control 28610.1.4 Airline Failure and Restructuring 28610.2 Environmental Regulation and Cost 28710.3 Turmoil in Distribution 28710.4 Complex Airline Structures 28810.5 Governance 28910.6 Evolving Airline Strategies 29010.6.1 Business Model Evolution 29010.6.2 Emerging Models 29110.7 Still Fragmented 292

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Book SynopsisFind out how bold actions by visionary leaders can inspire powerful stories that drive culture change.Data indicates that most strategic efforts to change a company’s culture fail. So how do companies succeed in this endeavor?A top strategy professor and two highly successful CEOs found that, in companies that had successfully changed their culture, leaders had taken dramatic actions that embodied the new cultural values. These actions inspired stories that became company legends, repeated in every department and handed on to new employees.Through compiling and analyzing 150 stories from business leaders who have achieved change, they identified 6 attributes that every successful culture change story has in common:1.     The actions that build these stories are authentic2.     These stories "star" the leader3.     They signal a clean break with the past, and a clear path to the future4.     They appeal to employee heads and hearts5.     They’re often theatrical or dramatic6.     They’re told, and re-told, throughout the organizationWith extensive and inspiring examples of stories containing these attributes, the authors illustrate how readers can harness the power of stories within their company in order to change or create a winning culture to align with any strategy.

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Book SynopsisThe pandemic has accelerated the digital transformation in tourism and there has been a surge in new, innovative digital initiatives to help tourism businesses. This book provides a comprehensive treatment of the nature of tourism, events and practices in the digital context.The book looks at how technology has transformed tourism in destination branding, marketing, content marketing, sustainable tourism development and tourism events. It examines the impact of digital transformation on emotions, experiences, information technology tools and marketing techniques.The book will be a useful reference to those researching on tourism, culture, hospitality and marketing and as well as destination planners, managers of tourism destination marketing organizations, regulators, standards and certification bodies, local tourism board authorities and policy makers.Table of ContentsPart One Conceptual Discussions 1. Digital Innovation in Tourism Events: Theoretical Underpinnings and Conceptual Discussions Part Two Cases from Asia 2. Events at Nature-based Destinations of Bangladesh: Use of Information and Communication Technology in Marketing 3. Exploring the Light Show Landscaping at Traditional Festivals and Events in China 4. Goddess in Digital Space: A Study on Dynamics of Digitalization in Autumn Festival of India 5. Kaamatan Goes Virtual: Utilizing Social Media in Promoting Tourism Event 6. Impact of Online and Social Media Platforms in Organizing the Events: A Case Study on Coke Fest and Pakistan Super League 7. Technology Application in Tourism Events: Reflections on a Case Study of a Local Food Festival in Thailand 8. An Assessment on Strengthening the Attractiveness of Turkey’s Event and Festival Tourism with Innovative Technology Efforts 9. Technology Application in Tourism Events: Case of Africa Part Three Technology Application in Tourism Events: Case of Australia 10. The Ubiquitous Role of Mobile Technology Application in the Australian Open Part Four Cases from Europe 11. Technological Innovations in Event Sport Tourism: Case Study of the 2021 Sabre World Cup in Budapest in Hungary 12. Technology and Events: The Case of Note di Fuoco Festival in Calabria in South Italy 13. The Event ‘‘7 Wonders of Gastronomy’’ and the Digitalization of Communication in the Portuguese Context 14. Reimagining Tourism Events: Spain’s Preparation for the Return of a Healthier Breed of Tourists Part Five Cases from North America 15. Surviving the COVID-19 Pandemic: How Technology is Getting the Tourism Industry Back on its Feet in the USA Part Six Cases from South America 16. Technology in Tourist Events: A Study of Rock in Rio Brazil from the Perspective of its Stakeholders 17. The Sacred in Cyberspace: The Taper of Our Lady of Nazareth Religious Event and Technology Application in the (Re) Construction of Territorial and Touristic Identities in Belém do Pará, Brazil Part Seven Future Research Directions 18. COVID-19 Effects on Tourism Events, Technology Acceleration and Future Research Directions

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Book SynopsisWho will lead your organization into the future? Have you created the systems to properly implement required succession transitions? Have you put the financial tools in place to fund the transition? Do you want a plan that connects with your personal and company core values? When do you include timely planning related to strategy and talent issues? What are the appropriate communication strategies for sharing your plan? What legal issues need consideration related to the strategy, financial, and people aspects of succession? So, what is preventing you from starting this effort tomorrow? Small and family businesses are the bedrock of all businesses. More people are employed by small and family-owned businesses than by all multinational companies combined. Yet the research on small and family businesses is bleak: fewer than one-third of small business owners in the United States can afford to retire. Only 40% of small businesses have a workable disaster plan in case of the suddTable of ContentsPart I Deciding What to Do: Life and Career Planning for Small Business Owners and Family Leaders Chapter 1: Considering Your Choices Part II Planning for Succession in Small and Family Business Chapter 2: Strategic Planning for Succession Sustainability Chapter 3: Recruiting a Successor from Inside, Outside, or Utilizing Other Options for the Organization Part III Special Issues in Small and Family Business Succession Planning Chapter 4: Family-Owned Business Dynamics and Politics Chapter 5: What Psychological Challenges Affect Small and Family Business Succession? Chapter 6: Questions and Answers about Legal Issues in Small and Family Business Succession Chapter 7: Valuing the Small and Family Business for Succession Planning Chapter 8: Questions and Answers about Financial Planning Issues in Small and Family Business Succession Chapter 9: Talent Management in Small and Family Businesses Chapter 10: Transitioning the Business and Executing the Succession Plan Appendix I Frequently Asked Questions (FAQs) Appendix II Resources About Small and Family Business Succession Planning

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Book SynopsisDieser Band der Gesammelten Schriften von Friedrich A. von Hayek kann - neben der Verfassung der Freiheit - als das zweite Hauptwerk des bedeutenden Ökonomen und Sozialphilosophen gelten. Es ist die Einzelveröffentlichung, die den besten Überblick über sein gesamtes theoretisches Werk bietet. Sie umfaßt Hayeks allgemein sozial- und rechtsphilosophische Überlegungen zu den Grundlagen sozialer Ordnung, seine Theorie der spontanen Ordnung und der kulturellen Evolution, seine politische Ökonomie der Ordnung des Marktes und seine Diagnose der Gefährdungen dieser Ordnung, ebenso wie seine politische Philosophie der institutionellen Grundlagen einer freien Gesellschaft und seine Analyse zeitgenössischer Demokratie. Das Werk erschien in drei Bänden auf Englisch 1973, 1976 und 1979, eine deutsche Übersetzung erschien ebenfalls in drei Bänden 1980 und 1981. Für diese einbändige Ausgabe wurde es von Monika Streissler neu ins Deutsche übersetzt.

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Book SynopsisA thousand-year history of how China’s obsession with silver influenced the country’s financial well-being, global standing, and political stabilityTrade Review“Makes a good case for how monetary choices can have wider political implications...Its message that China's development has been hampered by weak rule of law and a lack of accountability could not be timelier.”—Matthew Partridge, Money Week"Empire of Silver is superbly written and a great joy to read. Ingeniously blending literary evidence from materials as diverse as Chinese classical novels with serious academic research, the book gives extraordinary theoretical and historical insights on big questions about politics, money, finance, and the Great Divergence. It is a wonderful book for understanding one thousand years of Chinese monetary history."--Debin Ma, Hitotsubashi University, Tokyo, Japan "Empire of Silver is a fascinating, in-depth and scholarly work. It traces China's obsession with the precious metal for better and for worse over the centuries. Particularly interesting is the relationship between silver and the decline of the Qing dynasty in the 19th century - a passage of history that maintains crucial relevance to the China of today."--James Kynge, author of China Shakes the World

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Book SynopsisIn this book,the author uses management principles in overcoming the pain and shows how the journey helped him understand the true essence of life, and life goes from being bound to being liberated. inclusive environment in the workplace, mentoring women for leadership positions, and driving balanced leadership in corporate India.

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Book SynopsisTrade Review"There is little doubt that Quiggin’s Economics in Two Lessons will be an instant classic and feature on university reading lists around the world. It should also be compulsory reading for policymakers and public commentators, who all too often lack a framework for thinking clearly about the costs and benefits of markets. The good news is that Quiggin has one—and he’s happy to share."---Richard Holden, Inside Story"This is a highly readable introduction to the intellectual framework of modern policy economics, with plenty of lively examples."---Diane Coyle, Enlightened Economist"His book would be a useful supplement to a principles of economics course, with the advantage of avoiding resort to any graphs or equations . . . . [It] provides an essential completion of the basic story . . . . It is essential reading for anyone interested in the practical side of economic policymaking."---Max B. Sawicky, Jacobin"The themes are complex, but the writing is clear, and the journey is rewarding." * BizEd *"Quiggin writes well and [this] book is full of useful erudite information."---Warwick Lightfoot, Financial World"Many economists consider ‘opp cost’ to be the single most important and fundamental concept in economics, and the discipline’s most useful contribution to the betterment of mankind. Indeed, that’s the view Professor John Quiggin, of the University of Queensland, takes in his book Economics in Two Lessons, which I recommend as the best book to introduce you to economics."---Ross Gittins, Sydney Morning Herald"Quiggin reckons with the incoherence of markets-only thinking in his masterful 2019 book Economics in Two Lessons, which explores the power, limitations and dangers of using markets to solve our problems in a thoughtful and clear way."---Cory Doctorow, Boing Boing

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Book SynopsisThe underlying theme of this book will be on how empirical analysis can be used in Finance to test financial theory, model policy implications, and to forecast for investment purposes, rather than focusing in detail on the statistical and mathematical theory behind the models used. Empirical examples will be used throughout as pedagogical devices.Table of ContentsPreface xii Chapter 1 Introduction 1 1.1 Subject Matter and Structure 1 1.2 Computer Software 4 1.3 Data 5 1.4 References 6 Chapter 2 Random Variables and Random Processes 7 2.1 Introduction 7 2.2 Random Variables and Random Processes 8 2.2.1 Random Variables 8 2.2.2 Random Processes 15 2.3 Time Series Models 18 2.3.1 Autoregressive (AR) and Moving Average (MA) Models 18 2.3.2 Autoregressive Moving Average (ARMA) Models 21 2.3.3 Non-stationary Time Series 22 2.3.4 Autoregressive Integrated Moving Average (ARIMA) Models 24 2.3.5 Parameter Estimation and Inference 25 2.3.6 The Box–Jenkins Approach 30 2.3.7 Vector Autoregressive (VAR) Models 34 2.3.8 Forecasting with Time Series Models 35 2.3.9 Evaluating Forecasts 38 2.3.10 Non-linear Time Series Models 42 2.4 Summary 44 2.5 End of Chapter Questions 44 2.6 References 46 Chapter 3 Regression and Volatility 49 3.1 Introduction 49 3.2 Regression Models 50 3.2.1 Linear Regression 50 3.2.2 Spurious Regression 56 3.2.3 Unit Root Tests 57 3.2.4 Cointegration 59 3.2.5 Forecasting with Regression Models 65 3.3 Modelling and Forecasting Conditional Volatility 66 3.3.1 Univariate Conditional Volatility 66 3.3.2 Conditional Covariance Matrices 72 3.4 Summary 75 3.5 End of Chapter Questions 76 3.6 References 77 Chapter 4 Portfolio Theory and Asset Allocation 80 4.1 Introduction 80 4.2 Returns 81 4.3 Dividend Discount Model 88 4.4 Modern Portfolio Theory 90 4.4.1 Basic Theory 90 4.4.2 Generalisations 97 4.4.3 Strengths and Weaknesses 98 4.5 Empirical Examples 100 4.6 Summary 107 4.7 End of Chapter Questions 109 4.8 Appendix 110 4.8.1 Data 110 4.8.2 MATLAB® Programs and Toolboxes 111 4.9 References 112 Chapter 5 Asset Pricing Models and Factor Models 113 5.1 Introduction 113 5.2 CAPM 114 5.2.1 Main Results 114 5.2.2 CAPM Applications 117 5.2.3 Empirically Testing the CAPM 118 5.2.4 Strengths and Weaknesses 120 5.3 Factor Models 122 5.3.1 Single-Index Model and APT Model 122 5.3.2 Macroeconomic Factor Models 124 5.3.3 Fama and French Models 125 5.3.4 Covariance Matrix Estimation 126 5.3.5 Strengths and Weaknesses 128 5.4 Empirical Examples 130 5.5 Summary 136 5.6 End of Chapter Questions 137 5.7 Appendix 138 5.7.1 Data 138 5.7.2 MATLAB® Programs and Toolboxes 139 5.8 References 140 Chapter 6 Market Efficiency 143 6.1 Introduction 143 6.2 Market Efficiency Tests 145 6.2.1 The Efficient Market Hypothesis 145 6.2.2 Random Walk Tests 147 6.2.3 Other Tests 149 6.3 Econometric Forecasting 152 6.4 Technical Analysis 154 6.4.1 Overview 154 6.4.2 Testing the Profitability of Technical Trading Rules 158 6.5 Data-Snooping 160 6.6 Empirical Examples 162 6.7 Summary 174 6.8 End of Chapter Questions 175 6.9 Appendix 176 6.9.1 Data 176 6.9.2 MATLAB® Programs and Toolboxes 177 6.10 References 179 Chapter 7 Modelling and Forecasting Exchange Rates 183 7.1 Introduction 183 7.2 Exchange Rates 184 7.3 Market Efficiency and Exchange Rate Parity Conditions 187 7.3.1 Uncovered Interest Rate Parity 187 7.3.2 Covered Interest Rate Parity 188 7.3.3 Forward Rate Unbiasedness 189 7.4 Market Efficiency Tests 189 7.4.1 Random Walk Tests 189 7.4.2 Regression Model Tests 191 7.5 Purchasing Power Parity 193 7.5.1 The Law of One Price and the Purchasing Power Parity Hypothesis 193 7.5.2 Testing the Purchasing Power Parity Hypothesis: Linear Tests 194 7.5.3 Testing the Purchasing Power Parity Hypothesis: Non-linear Tests 198 7.6 Forecasting Exchange Rates 206 7.6.1 Econometric Models 206 7.6.2 Technical Analysis 210 7.7 Empirical Examples 212 7.8 Summary 220 7.9 End of Chapter Questions 220 7.10 Appendix 221 7.10.1 Data 221 7.10.2 MATLAB® Programs and Toolboxes 224 7.11 References 225 Chapter 8 Modelling and Forecasting Interest Rates 231 8.1 Introduction 231 8.2 Bonds 232 8.2.1 Yields and Prices 232 8.2.2 The Term Structure of Interest Rates 235 8.2.3 Duration and Convexity 238 8.3 Interest Rate Models 242 8.3.1 Vasicek Model 242 8.3.2 CIR Model 249 8.3.3 CKLS Model 250 8.3.4 Forecasting Interest Rates 253 8.4 Empirically Testing the Expectations Hypothesis 254 8.4.1 Introduction 254 8.4.2 Testing the Expectations Hypothesis 255 8.4.3 Results and the Expectations Hypothesis Paradox 258 8.5 Empirical Examples 261 8.6 Summary 267 8.7 End of Chapter Questions 268 8.8 Appendix 268 8.8.1 Data 268 8.8.2 MATLAB® Programs and Toolboxes 270 8.9 References 271 Chapter 9 Market Risk Management 274 9.1 Introduction 274 9.2 VaR by the Delta-Normal Approach 275 9.2.1 VaR for a Single Asset 275 9.2.2 VaR for a Portfolio 278 9.2.3 RiskMetrics and the Delta-Normal Approach 280 9.3 VaR by Historical Simulation 282 9.4 VaR by Monte Carlo Simulation 283 9.5 VaR for Bonds 285 9.6 VaR for Derivatives 287 9.6.1 VaR by Delta-Gamma 287 9.6.2 VaR by Monte Carlo Simulation 292 9.7 Backtesting 295 9.8 Financial Regulation and VaR 299 9.9 Empirical Examples 306 9.10 Summary 319 9.11 End of Chapter Questions 320 9.12 Appendix 321 9.12.1 Data 321 9.12.2 MATLAB® Programs and Toolboxes 322 9.13 References 324 Appendix Statistical Tables 326 A.1 Areas Under the Standard Normal Distribution 327 A.2 Critical Values for Student’s t-distribution 328 A.3 Critical Values for the F-distribution 329 A.4 Critical Values for the Chi-square Distribution 332 A.5 Cumulative Distribution Function for the Dickey–Fuller Test 334 A.6 Response Surfaces for Critical Values of Cointegration Tests 335 Index 336

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Book SynopsisTrade Review"The most complete, enjoyable, and worthwhile textbook treating both traditional and modern microeconomic theory." * Journal of Economics *

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Book SynopsisJeffrey D. Sachs shows how the United States can find a path to renewed economic progress that is fair and environmentally sustainable. Sachs explores issues including infrastructure, trade deals, energy policy, and income inequality, providing illuminating and accessible explanations of the forces at work and specific policy solutions.Trade ReviewJeffrey Sachs remains one of the most thought-provoking economists in the world today because he dares to challenge presidents of both parties and the orthodoxies that bind them to disastrous policies. His critiques are fierce and his solutions fearless in the face of political and academic groupthink. That makes Professor Sachs a rarity in public life and this book an absolute necessity. -- Joe Scarborough My father famously declared that GDP "measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country; it measures everything in short, except that which makes life worthwhile." Jeffrey Sachs presents an economic vision beyond GDP, one that is based on compassion and sustainability, and that aligns with the globally agreed Sustainable Development Goals. This is a roadmap for America's future economic strategy. -- Kerry Kennedy, president of the Robert F. Kennedy Center for Justice and Human RightsTable of ContentsForeword, by Bernie Sanders Preface Acknowledgments 1. Why We Need to Build a New American Economy 2. Investment, Saving, and U.S. Long-Term Growth 3. Decoding the Federal Budget 4. Sustainable Infrastructure After the Automobile Age 5. Facing Up to Income Inequality 6. Smart Machines and the Future of Jobs 7. The Truth About Trade 8. Disparities and High Costs Fuel the Health Care Crisis 9. A Smart Energy Policy for the United States 10. From Guns to Butter 11. Investing for Innovation 12. Toward a New Kind of Politics 13. Restoring Trust in American Governance 14. Prosperity in Sustainability Suggested Further Readings Notes

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Book SynopsisAn enlightening and entertaining interrogation of the myth of American self-reliance and the idea of hard work as destiny?Genius is one percent inspiration and ninety-nine percent perspiration.? This phrase, arguably Thomas Edison?s most famous quote, has been drilled into the minds of generations of Americans. A fairly straightforward iteration of the idea that innovation, discovery, and ingenuity are the result of drive and grit above all, it has also come to represent much darker myths: that hard work always leads to success and that achievement is the product of individuals and not communities. In this model, those who come out on top are there because they earned it, and everyone else needs to buckle down, glove up, and, maybe one day, they?ll get there too.As the wealth gap widens, communities crumble, and Americans work more for less, Adam Chandler raises the question: What happens when perspiration isn?t enough? To answer it, he crisscrosses the country interviewing mayors, teachers, generals, pastors, construction workers, and entrepreneurs, to reveal just how untenable relying on ?perspiration? as a strategy has truly become. He also delves into America?s past to reveal how our government, education system, and culture at large have woven the idea of meritocracy deep into the fabric of American society and how some of history?s most famous so-called bootstrappers really built their wealth. From George Washington to Seattle,Washington, Jay Gatsby to Bill Gates, 99% Perspiration unpacks the misguided obsession with hard work that has come to define both the American dream and nightmare, offering insight into how we got here and hope for where we may go.

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Book SynopsisTrade ReviewIt seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year—and maybe of the decade. -- Paul Krugman * New York Times *The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat. * The Economist *Piketty’s Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years. -- Steven Pearlstein * Washington Post *Piketty has written an extraordinarily important book…In its scale and sweep it brings us back to the founders of political economy. -- Martin Wolf * Financial Times *A sweeping account of rising inequality…Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore. -- John Cassidy * New Yorker *Stands a fair chance of becoming the most influential work of economics yet published in our young century. It is the most important study of inequality in over fifty years. -- Timothy Shenk * The Nation *At a time when the concentration of wealth and income in the hands of a few has resurfaced as a central political issue, Piketty doesn’t just offer invaluable documentation of what is happening, with unmatched historical depth. He also offers what amounts to a unified field theory of inequality, one that integrates economic growth, the distribution of income between capital and labor, and the distribution of wealth and income among individuals into a single frame…Piketty has transformed our economic discourse; we’ll never talk about wealth and inequality the same way we used to. -- Paul Krugman * New York Review of Books *The most remarkable work of economics in recent years, if not decades…The discipline of economics, Piketty argues, remains trapped in a juvenile passion for mathematics, divorced from history and its sister social sciences. His work aims to change that. -- Nick Pearce * New Statesman *Magnificent…Even though it is a work more concerned with the past 200 years, it’s no coincidence that the full title of Piketty’s book is Capital in the Twenty-First Century. Its ambition is to shape debates about the next two centuries, not the past two. And in that it may succeed. -- Christopher Croke * The Australian *Piketty’s ground-breaking work on the historical evolution of income distribution is impressive…One of the best economic books in decades. -- Paul Sweeney * Irish Times *[Piketty] is just about to emerge as the most important thinker of his generation…He demonstrates that there is no reason to believe that capitalism can ever solve the problem of inequality, which he insists is getting worse rather than better. From the banking crisis of 2008 to the Occupy movement of 2011, this much has been intuited by ordinary people. The singular significance of his book is that it proves ‘scientifically’ that this intuition is correct. This is why his book has crossed over into the mainstream—it says what many people have already been thinking. -- Andrew Hussey * The Observer *The strength of Piketty’s book is his close attention to the different sources of inequality, the massive documentation underpinning his history and conclusions, and his impressive culls from sociology and literature, which exhibit the richness of ‘political economy’ compared to its thin mathematical successor that has attained such prominence…A timely intervention in the current debate about inequality and its causes. -- Robert Skidelsky * Prospect *A monumental book that will influence economic analysis (and perhaps policymaking) in the years to come. In the way it is written and the importance of the questions it asks, it is a book the classic authors of economics could have written if they lived today and had access to the vast empirical material Piketty and his colleagues collected. -- Branko Milanovic * American Prospect *This book has all the makings of a classic. It has already changed the way economists think about inequality. One hopes that these ideas will percolate into the chambers of policy-makers in governments and lending institutions and bring about changes in their policies to reduce inequality. -- K. Subramanian * The Hindu *Piketty’s book is revolutionary…[His] multi-century portrait of wealth and income obliterates economists’ complacent narratives…We are still seeking an economy that is both vibrant and humane, where mutual advantage is real and mutual aid possible. The one we have isn’t it. -- Jedediah Purdy * Los Angeles Review of Books *Piketty demonstrates in terrifying detail, with painstaking statistical research, that free-market capitalism, in the absence of major state redistribution, produces profound economic inequalities. -- Michael Robbins * Chicago Tribune *An extraordinary sweep of history backed by remarkably detailed data and analysis…Piketty’s economic analysis and historical proofs are breathtaking. -- Robert B. Reich * The Guardian *Piketty’s treatment of inequality is perfectly matched to its moment. Like [Paul] Kennedy a generation ago, Piketty has emerged as a rock star of the policy-intellectual world…But make no mistake, his work richly deserves all the attention it is receiving…By focusing attention on what has happened to a fortunate few among us, and by opening up for debate issues around the long-run functioning of our market system, Capital in the Twenty-First Century has made a profoundly important contribution. -- Lawrence H. Summers * Democracy *What makes Thomas Piketty’s Capital in the Twenty-First Century such a triumph is that it seems to have been written specifically to demolish the great economic shibboleths of our time…Piketty’s magnum opus. -- Thomas Frank * Salon *Capital reflects decades of work in collecting national income data across centuries, countries, and class, done in partnership with academics across the globe. But beyond its remarkably rich and instructive history, the book’s deep and novel understanding of inequality in the economy has drawn well-deserved attention…The book is an attempt to ground the debate over inequality in strong empirical data, put the question of distribution back into economics, and open the debate not just to the entirety of the social sciences but to people themselves. -- Mike Konczal * Boston Review *[A] 700-page punch in the plutocracy’s pampered gut…It’s been half a century since a book of economic history broke out of its academic silo with such fireworks. -- Giles Whittell * The Times *Thomas Piketty of the Paris School of Economics has done the definitive comparative historical research on income inequality in his Capital in the Twenty-First Century. -- Paul Starr * New York Review of Books *Bracing…Piketty provides a fresh and sweeping analysis of the world’s economic history that puts into question many of our core beliefs about the organization of market economies. His most startling news is that the belief that inequality will eventually stabilize and subside on its own, a long-held tenet of free market capitalism, is wrong. Rather, the economic forces concentrating more and more wealth into the hands of the fortunate few are almost sure to prevail for a very long time. -- Eduardo Porter * New York Times *About as close to a blockbuster as there is in the world of economic literature—easily the most discussed book of its genre in years…Piketty challenges one of the underpinnings of modern democracies—namely, that growth and productivity make each generation better off than the previous one. -- Barrie McKenna * Globe and Mail *Piketty has unearthed the history of income distribution for at least the past hundred years in every major capitalist nation. It makes for fascinating, grim and alarming reading…Piketty gives us the most important work of economics since John Maynard Keynes’s General Theory. -- Harold Meyerson * Washington Post *The strength of [Piketty's] thesis is that it is founded on evidence rather than ideology…What Piketty has done is provide a strong factual understanding for how modern capitalist economies diverge from the image of risk-taking and productive commercial activity. At the very least, the book effectively debunks the notion that there is an economic imperative for low tax rates and a smaller state. -- Oliver Kamm * The Times *Defies left and right orthodoxy by arguing that worsening inequality is an inevitable outcome of free market capitalism…Without what [Piketty] acknowledges is a politically unrealistic global wealth tax, he sees the United States and the developed world on a path toward a degree of inequality that will reach levels likely to cause severe social disruption. -- Thomas B. Edsall * New York Times *Piketty's magnum opus…A lucid tale of why inequality in the world is increasing, and what we should be doing about it. The right leaning crowd may be dismayed with his prescriptions of stiff global wealth taxes, but neither leftists nor rightists can dispute the data that he presents. -- Ajit Ranade * Business Today *Anyone remotely interested in economics needs to read Thomas Piketty’s Capital in the Twenty-First Century. -- Matthew Yglesias * Slate *[A] timely, important book. -- Joseph E. Stiglitz * New York Times *Piketty’s genius lies in proving that inequality is growing and potentially threatens widespread political instability…Piketty has written a trenchant critique of our current economic system. -- Michael Washburn * Boston Globe *Piketty has looked at centuries of tax archives to formulate a theory of capitalism that is evidence-based and rigorously researched, but also attempts to answer the most basic questions in economic theory…Capital in the Twenty-First Century is already being hailed as a seminal work of economic thought, and with very good reason. -- Thomas Flynn * Daily Beast *Piketty solidifies and gives an intellectual edge to the view that something is wrong here, and something new and bold and radical has got to be done…People like me, and others, are certainly excited by the prospect of where Piketty might take us. -- Len McCluskey * The Guardian *The book is a terrific achievement. -- Alan Ryan * Literary Review *One of the strengths of Piketty’s book is the depth and rigor of his historical analysis. Yet it is changes taking place now that make his concerns especially urgent. -- Andrew Neather * London Evening Standard *There are books that you read and there are books that hit the nail on the head so hard that you want to get your teeth into them. Thomas Piketty’s Capital in the Twenty-First Century…clearly belongs to the second category. -- Perry Lam * South China Morning Post *[Piketty] has demolished the Western myth that all who work hard can expect success. -- Mary Riddell * The Telegraph *It’s going to be remembered as the economic tome of our era. Basically, Piketty has finally put to death, with data, the fallacies of trickle down economics…We can only hope that the politicians crafting today’s economic programs will take this book to heart. -- Rana Foroohar * Time *Magisterial…This book is economics at its best. -- Philip Roscoe * Times Higher Education *[A] seminal work on capitalism. -- Madan Sabnavis * Financial Express *Piketty has shown that we are living in a Second Gilded Age…Nestled under the book’s mass of data, elegant mathematical formulae, and literary references is an insistence that the turmoil of capitalism is a human turmoil, within the control of human beings. Piketty’s book is a call to citizenship, not as a series of fatalistic poses, but as a political responsibility. That spirit of engagement is more radical, at this moment in history, than any other proposal. -- Stephen Marche * Los Angeles Review of Books *Piketty hits bullseye after bullseye about the exacerbating inequalities that disfigure society—especially American society…For [those] who suffer from the relentless blather about why the minimum wage cannot be raised; why ‘job creators’ cannot be taxed; and why American society remains the most open in the world, Piketty is what the doctor ordered. -- Russell Jacoby * New Republic *Riveting…[Piketty] embodies a model of engaged and sophisticated public debate, the sort of which politicians can only dream…Capital inequality has dispossessed us of our ‘democratic sovereignty,’ and that’s something we should all really worry about…His book is as much a story about the limits of modern democratic politics as it is about the structures of inequality. -- Duncan Kelly * Times Literary Supplement *Very readable and often slyly witty…Piketty does economics in a new way; or more accurately, he returns to an older way…He argues that the degree of inequality is not just the product of economic forces; it is also the product of politics. -- George Fallis * Literary Review of Canada *Capital in the Twenty-First Century delivered a well placed kick up the backside to complacent mainstream economics. -- Paul Mason * The Observer *This book is the key to understanding how the automatic accumulation and concentration of wealth poses a threat to the peaceful economies in which entrepreneurs prosper. -- Geoffrey James * Inc. *Monumental…Translated beautifully by Arthur Goldhammer, [Capital in the Twenty-First Century]…smashed into the intellectual world with incredible force…One also has to admire the way Piketty marshals the data to create a sweeping historical narrative, in a style reminiscent of the great thinkers of the 19th century. -- Ben Chu * The Independent *Capital in the Twenty-First Century shows how privateers use privatization, debt creation and capital inflation as a mechanism for rent extraction, with catastrophic consequences for public services. -- Allyson Pollock * Times Higher Education *Piketty’s great achievement, and one possible reason for the enthusiastic reception of his book, is his effective empirical demonstration of a fact long denied by neoclassical economics and its champions throughout the world: markets, when left to their own devices, do not provide individuals with rewards that are proportional to their efforts…[This book] effectively demolishes mainstream myths about the ability of markets to combat inequality. -- Hassan Javid * Dawn *Monumental…[Piketty] documents a sharp increase in such inequality over the last 25 years, not only in the United States, but also in Canada, Britain, Australia, New Zealand, China, India, Indonesia and South Africa, with people with the highest incomes far outstripping the rest of society. The book is impressive in its wealth of information. -- Robert J. Shiller * New York Times *[Piketty’s] chief intellectual accomplishment is to show how the basic forces of capitalism tend inevitably toward an ever-greater accumulation of wealth at the tip of the pyramid…Piketty shows that the economics of the postwar era—when the West enjoyed strong, widely-shared growth—was a historical exception. For our Western democracies, it was also a political necessity. Capitalism is facing an existential challenge; smart plutocrats will be part of the solution. -- Chrystia Freeland * Politico *Thomas Piketty’s Capital in the Twenty-First Century is the most important economics book of the year, if not the decade…Capital in the Twenty-First Century essentially takes the existing debate on income inequality and supercharges it. It does so by asserting that in the long run the economic inequality that matters won’t be the gap between people who earn high salaries and those who earn low ones, it will be the gap between people who inherit large sums of money and those who don’t. -- Matthew Yglesias * Vox *Monumental…One of the most thorough and illuminating studies of capitalist economics since Karl Marx published the original Capital 150 years earlier. -- Gary Gerstle * Washington Post *Groundbreaking…The usefulness of economics is determined by the quality of data at our disposal. Piketty’s new volume offers a fresh perspective and a wealth of newly compiled data that will go a long way in helping us understand how capitalism actually works. -- Christopher Matthews * Fortune *Piketty draws on a vast store of historical data to argue that the broad dissemination of wealth that occurred during the decades following World War I was not, as economists then mistakenly believed, a natural state of capitalist equilibrium, but rather a halcyon interval between Belle Époque inequality and the rising inequality of our own era…[His] most provocative argument is that the discrepancy between the high returns to capital and much more modest overall economic growth—briefly annulled during the mid-century—ensures that the gulf between the rich (who profit from capital investments) and the middle class (who depend chiefly on income from labor) will only continue to grow. -- James Traub * Foreign Policy *Piketty’s main point, and his new and powerful contribution to an old topic: as long as the rate of return exceeds the rate of growth, the income and wealth of the rich will grow faster than the typical income from work…If the ownership of wealth in fact becomes even more concentrated during the rest of the twenty-first century, the outlook is pretty bleak unless you have a taste for oligarchy…Wouldn’t it be interesting if the United States were to become the land of the free, the home of the brave, and the last refuge of increasing inequality at the top (and perhaps also at the bottom)? Would that work for you? -- Robert Solow * New Republic *Argues that the great equalizing decades following World War II, which brought on the rise of the middle class in the United States, were but a historical anomaly. Armed with centuries of data, Piketty says the rich are going to continue to gobble up a greater share of income, and our current system will do nothing to reverse that trend. -- Shaila Dewan * New York Times Magazine *Though an heir to Tocqueville’s tradition of analytic history, Thomas Piketty has a message that could not be more different: Unless we act, inequality will grow much worse, eventually making a mockery of our democratic institutions. With wealth more and more concentrated, countries racing to cut taxes on capital, and inheritance coming to rival entrepreneurship as a source of riches, a new patrimonial elite may prove as inevitable as Tocqueville once believed democratic equality was…Perhaps with this magisterial book, the troubling realities Piketty unearths will become more visible and the rationalizations of the privileged that sustain them less dominant. Like Tocqueville, Piketty has given us a new image of ourselves. This time, it’s one we should resist, not welcome. -- Jacob S. Hacker and Paul Pierson * American Prospect *A landmark book…which brings a ton of data to bear in reaching the commonsensical conclusion that inequality has to do with more than just blind market forces at work. -- George Packer * New Yorker *[Piketty] is now the most talked-about economist on the planet…The book analyzes hundreds of years of tax records from France, the U.K., the U.S., Germany and Japan to prove a simple idea: The rich really are getting richer. And their wealth doesn’t trickle down. It trickles up…The stark historical consequences of unchecked inequality are at the heart of Capital. -- Rana Foroohar * Time *Magisterial…Piketty provides a sweeping, data-driven narrative about inequality trends in the United States and other Western economies over the past century or more, identifies a worrisome increase in income and wealth concentration in a small percentage of the population since 1980, and warns that this trend won’t likely correct itself. -- Chad Stone * U.S. News & World Report *Piketty’s new book is an important contribution to understanding what we need to do to produce more growth, wider economic opportunity and greater social stability. -- David Cay Johnston * Al Jazeera America *The book has made everyone with a stake in capitalism sit up and take notice…[Piketty’s] analysis should challenge Americans to rethink our notions of wealth and poverty and whether any semblance of ‘equal opportunity’ actually exists. * America *Capital in the Twenty-First Century is written in the tradition of great economic texts…This book is significant for its findings, as well as for how Piketty arrives at them. It’s easy—and fun—to argue about ideas. It is much more difficult to argue about facts. Facts are what Piketty gives us, while pressing the reader to engage in the journey of sorting through their implications. -- Heather Boushey * American Prospect *How does a rigorous, seven-hundred page economic history become a lionized hit? Through the canny voice of professor Thomas Piketty, and his demystification of inherited wealth, Karl Marx’s true legacy, and what we mean when we talk about monetary ‘growth’ and ‘inequality.’ * Barnes and Noble Review *When it comes to economics…you need to get yourself a hold of Capital in the Twenty-First Century…Piketty’s study will have readers plotting capital’s downfall because what it shows is that the growing inequalities we are seeing between the haves and have nots are endemic to the system…We are entering a new age of capital, he argues; a time, similar to the early 19th century, when many will live off their money. Without the need for work. Meanwhile, those without capital will always struggle to keep ahead of debts. -- Thomas Quinn * Big Issue *Intellectually hefty…Piketty has already engendered vigorous argument. Capital is an arduous climb, but the subject is equally weighty, and it demands our best analyses, proposals and dialogues. Capital is an essential volume in the conversation. -- Earl Pike * Cleveland Plain Dealer *An important book…which paints a compelling, and scary, picture of the deep forces driving toward ever greater inequality in the modern world. Piketty’s historical focus adds power to his analysis of the trend toward greater financial inequality today. -- Charles R. Morris * Commonweal *This important and fascinating book surely ranks among the most influential economic analysis of recent decades. -- Andrew Berg * Finance & Development *Piketty has made his name central to serious discussions of inequality…[He] expands upon his empirical work of the last 10 years, while also setting forth a political theory of inequality. This last element of the book gives special attention to tax policy and makes some provocative suggestions—new and higher taxes on the very rich. -- Joseph Thorndike * Forbes *The most eagerly anticipated book on economics in many years. -- Toby Sanger * Globe and Mail *Is Piketty the new Karl Marx? Anybody who has read the latter will know he is not…Piketty has, more accurately, placed an unexploded bomb within mainstream, classical economics…The power of Piketty’s work is that it also challenges the narrative of the center-left under globalization, which believed upskilling the workforce, combined with mild redistribution, would promote social justice. This, Piketty demonstrates, is mistaken. All that social democracy and liberalism can produce, with their current policies, is the oligarch’s yacht co-existing with the food bank forever. Piketty’s Capital, unlike Marx’s Capital, contains solutions possible on the terrain of capitalism itself. -- Paul Mason * The Guardian *The big questions that concerned Mill, Marx and Smith are now rearing their heads afresh…Thomas Piketty—who spent long years, during which the mainstream neglected inequality, mapping the distribution of income—is making waves with Capital in the Twenty-First Century. Nodding at Marx, that title helps explain the attention, but his decidedly classical emphasis on historical dynamics in determining who gets what resonates in a world where an increasing proportion of citizens are feeling fleeced by the elite. * The Guardian *A big book in every sense of the word, using empirical evidence from 30 countries to describe how capitalism has evolved over the past 300 years and is now reverting to what Piketty calls the Downton Abbey world of a century ago…It is rare for economics books to fly off the shelves. Once in every generation, usually when the world has started to recover after a serious recession, there is a search for answers. Will Hutton’s The State We’re In was the must-buy book two decades ago just as Piketty’s is today. * The Guardian *Piketty says he wants the book to be widely read and his ideas debated. He has succeeded. Questions of economic theory have now reached an uncommonly large audience. One could, of course, fill a book twice the size with the reviews and the commentary Capital has prompted. But there is a better way into the debate than consuming the Piketty media phenomenon: spend a little valuable capital and read the original yourself. -- Ben Chu * The Independent *The enthusiastic reception in the United States of Piketty’s rigorous Capital in the Twenty-First Century, which answers the empirical spirit of the age with a welcome rush of statistics, may be a promising sign of renewal in the otherwise sedate intellectual pastures of the continent. To have made the word ‘redistribution’ utterable again by mainstream economists is already a considerable achievement…An unignorable account of the history of inequality in capitalist democracies. -- Thomas Meaney and Yascha Mounk * The Nation *Not since John Rawls’s A Theory of Justice in 1971 has a work of political theory been as rapturously received on the left as Thomas Piketty’s Capital in the Twenty-First Century…In this supposedly superficial and anti-intellectual age, his 690-page treatise on inequality, rich in empirical research, has resonated because it speaks to one of the central anxieties of our time: that society is becoming ever more fragmented as the very rich pull away from the rest. * New Statesman *Piketty, a prominent economist, explains the tendency in mature societies for wealth to concentrate in a few hands. -- Amy Merrick * New Yorker *[Piketty] has written a 700 page book on inequality which has achieved something few would have thought possible. He has rocked the neo-liberal economic establishment to its foundations…Even some of the most ideologically blinkered of free market economists, having read this book, now openly admit that Professor Piketty has laid down a challenge which they dare not ignore and which could change the political environment. -- John Palmer * Red Pepper *Drawing on hundreds of years of economic data (some of which has only recently become available to researchers) Piketty reaches a simple but disturbing conclusion: In the long run, the return on capital tends to be greater than the growth rate of the economies in which that capital is located…Readers can already guess the dire conclusion that flows from combining Piketty’s theory with the plausible assumption that unregulated wealth leads to plutocracy: If the only way to avoid plutocracy would be to employ political processes that the plutocrats themselves will eventually buy lock, stock and barrel, then the only way to avoid being ruled by the Lords of Capital is to become one of them. -- Paul Campos * Salon *[Piketty] has been perhaps the most important thinker on inequality of the past decade or so…Capital will change the political conversation in a more subtle way as well, by focusing it on wealth, not income. -- Jordan Weissmann * Slate *There is a huge amount to admire and welcome in this book…Like the radicals of the 1790s, who toasted Edmund Burke in gratitude for the fundamental debate his writings on the French Revolution had provoked, even those who find Piketty’s remedies unpalatable and in some ways worse than the disease he is trying to cure should nevertheless applaud his industry, his acuity, and his humane commitment to the ideal of rational, temperate and informed public debate. -- David Womersley * Standpoint *Clearly written, ambitious in scope, rooted in economics but drawing on insights from related fields like history and sociology, Piketty’s Capital resembles nothing so much as an old-fashioned work of political economy by the likes of Adam Smith, David Ricardo, Karl Marx, or John Maynard Keynes…The book’s major strength lies in Piketty’s ability to see the big picture. His original and rigorously well-documented insights into the deep structures of capitalism show us how the dynamics of capital accumulation have played out historically over the past three centuries, and how they’re likely to develop in the century to come. -- Kathleen Geier * Washington Monthly *After receiving widespread attention in his native France, Thomas Piketty’s Capital in the Twenty-First Century has received even greater attention on this side of the Atlantic, and deservedly so. It offers a stark and depressing picture for those who believe that some combination of democratic politics and economic growth can protect us from rampant inequality. -- Kenneth Scheve and David Stasavage * Washington Post *Painstakingly details the dynamics of wealth and income inequality throughout the last two centuries, and offers a somewhat grim picture of the future of economic inequality. Along the way, Piketty also offers his theory of the cause of exploding executive pay and how we can successfully combat this destructive trend. -- Matt Bruenig * The Week *It’s a brilliant, surprisingly readable work that synthesizes a staggering amount of careful research to make the case that income inequality is no accident…[Piketty] has starkly and convincingly outlined the stakes for future generations. Either we’ll have a new birth of reformed capitalism…or we’ll have wealth concentration on such a colossal scale that it will threaten the democratic order. -- Ryan Cooper * The Week *It is a great work, a fearsome beast of analysis stuffed with an awesome amount of empirical data, and will surely be a landmark study in economics. * The Week *Rarely does a book come along…that completely alters the paradigm through which we frame our worldview. Thomas Piketty’s magisterial study of the structure of capitalism since the 18th century, Capital in the Twenty-First Century, is such a book…This book is more than a must read. It is a manual for action that provides a fresh framework for the new politics of the 21st century. -- Nathan Gardels * The WorldPost *[An] enormously important book. -- Doug Henwood * Bookforum *Essential reading for citizens of the here and now. Other economists should marvel at how that plain language can be put to work explaining the most complex of ideas, foremost among them the fact that economic inequality is at an all-time high—and is only bound to grow worse. * Kirkus Reviews *An explosive argument. * Liberation *A seminal book on the economic and social evolution of the planet… A masterpiece. -- Emmanuel Todd * Marianne *Outstanding… A political and theoretical bulldozer. * Mediapart *The book of the season. * Telerama *In this magisterial work, Thomas Piketty has performed a great service to the academy and to the public. He has written a pioneering book that is at once thoughtful, measured, and provocative. The force of his case rests not on a diatribe or a political agenda, but on carefully collected and analyzed data and reasoned thought. -- Rakesh Khurana, Harvard Business SchoolThis book is not only the definitive account of the historical evolution of inequality in advanced economies, it is also a magisterial treatise on capitalism’s inherent dynamics. Piketty ends his book with a ringing call for the global taxation of capital. Whether or not you agree with him on the solution, this book presents a stark challenge for those who would like to save capitalism from itself. -- Dani Rodrik, Institute for Advanced StudyThis is a truly path-breaking book offering a hard-hitting and well-founded critique of capitalism in the twenty-first century…Piketty shows himself to be not only a supereconomist but also a skilled politician. No wonder his thoughts have resonated even at the highest political levels. One can only hope that his work will actually influence adoption of his policy recommendations. -- Christel Lane * LSE Review of Books *As befits a book of such size, Capital is broad-ranging, both historically and geographically…Impressive. -- William Keegan * The Tablet *Piketty is offering something fresh in the discourse: an unimaginably massive data-set that traces the ebb and flow of wealth and productivity around the globe for three centuries…It’s a rare thing to see economists, especially pro-capitalist economists, praising taxation itself, but Piketty—careful, unemotional Piketty—dares…Besides, he says, the thing every red-blooded entrepreneur wants to see is people getting rich by their wits and deeds, not by the birthright of kings. -- Cory Doctorow * Boing Boing *A book of such magisterial sweep…Piketty deserves huge credit for kickstarting a debate about inequality and illuminating the distribution of income and wealth. -- Stephanie Flanders * The Guardian *Seven hundred pages on the evolution of inequality in economically advanced societies by the most fashionable new theorist to emerge for a long time. Many have been waiting for such a comprehensive critique of capitalism. -- David Sexton * Evening Standard *[A] most unlikely best seller, a crossover from the world of scholarship into general public discussion of a kind that seems rarer than it used to be. The book’s thesis—that economic inequality in the developed world is increasing, with potentially dire consequences for social justice and democratic governance—has struck a nerve in the American body politic. But its implications extend beyond the realm of political economy…The book invites the re-examination of deeply held assumptions about the world. -- A. O. Scott * New York Times *Using sophisticated computer modeling and analyses, the professor from the Paris School of Economics debunks a long-held assumption—that income from wages will tend to grow at roughly the same rate as wealth—and instead makes a compelling case that, over time, the apparatus of capitalism grows wealth faster than wages. Result: Inequality between the wealthy and everyone else will widen faster and faster; and, without progressive taxation, his data show we’ll return to levels of inequality not seen since America’s Gilded Age. -- Dean Paton * YES! *The depth and range of evidence Piketty marshals allows him to deliver a devastating blow to the confidence of many economists that capitalism is a tide that gradually lifts all boats. In the process, he mounts an effective critique of the tendency of economic writers on both left and right to rely on theories and formal systems…His book challenges both mainstream economists’ faith in untested mathematical models, as well as radicals’ resistance to subjecting Marx’s economic theory to rigorous testing. -- Michael W. Clune * Chronicle of Higher Education *In this monumental, vitally important work, [Piketty] forces us to reconsider what we think we know about the baseline functioning of capitalist economies over the long haul, and to grapple with the implications for ourselves and our times…Nearly every page of the book rewards a careful reading with new insights and intriguing questions. -- Matthew Carnes * America *We are in danger of entering into an era that, like the 19th century in France and England, is socially and politically dominated by those with vast amounts of inherited wealth…Piketty’s book is important because of the way he has clarified the magnitude of the problem and its dangers. And he has done so at a time of increasing soul-searching about the role technology plays in exacerbating inequality. -- David Rotman * Technology Review *This past July, I felt compelled to read Thomas Piketty’s Capital in the Twenty-First Century after reading several reviews and hearing about it from friends. I’m glad I did. I encourage you to read it too…I agree with his most important conclusions, and I hope his work will draw more smart people into the study of wealth and income inequality. -- Bill Gates * Gates Notes *[Piketty’s] overarching theme—that increased income disparity as a threat to democratic capitalism—remains prominent…His concerns about social unrest cannot be ignored. -- James Halteman * Christian Century *[A] sweeping study of wealth in the modern world…Full of insights but free of dogma, this is a seminal examination of how entrenched wealth and intractable inequality continue to shape the economy. * Publishers Weekly *The best business book on economics of the year. -- Daniel Gross * strategy+business *Throws much light upon one of the most important questions in economics: what determines the distribution of income and wealth. With an abundance of data and some simple and powerful theories, Piketty has made an immensely important contribution to the public debate. -- Martin Wolf * Financial Times *The year’s most popular and controversial book. -- Roland White * Sunday Times *Marx believed that free markets produce inequality, social division and violence. Piketty appears to side with Marx, but this is deceptive. When Piketty talks about ‘capital,’ he means the kind of investments held by today’s leisured rentier class whose money is tied up in property and pensions. Piketty argues that a free market overloaded with this kind of capital may or may not lead to anger and alienation, but it will certainly act like lumpy blockages in the smooth running of the economy. Piketty only wants the economy to work better. -- Nicholas Blincoe * The Telegraph *Capital in the Twenty-First Century is arguably the most important popular economics book in recent memory. It will take its place among other classics in the field that have survived changing theoretical and political fashions, such as its namesake by Karl Marx (Das Kapital, 1867) or other ambitiously titled books such as John Maynard Keynes’s The General Theory of Employment, Interest, and Money (1936). Anyone who wants to engage in an informed discussion about the economic landscape will have to read Piketty. -- Kate Bahn * Women’s Review of Books *Thomas Piketty’s Capital in the Twenty-First Century laid bare the deep structural forces that have made our brave new neoliberal economic order so dangerously topheavy and unstable. -- Chris Lehmann * In These Times *The extraordinary resonance of Thomas Piketty’s Capital in the Twenty-First Century suggests that inequality has become the most pressing economic issue of our time. -- Michael Rosen * Times Literary Supplement *[Piketty’s] magnum opus, which kicked off years of debate over the causes of and potential solutions for deep poverty in wealthy societies. -- Martin Wolk * Los Angeles Times *Piketty presents the problem of inequality afresh, using new forms of historical narration and explanation that cut across disciplines and theoretical frameworks. -- William Davies * London Review of Books *Capital in the Twenty-First Century looks back in order to look forward, plumbing economic patterns from the 18th century onward and homing in on the staggering inequities that dominate our age. -- Hamilton Cain * The Atlantic *

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book SynopsisTable of ContentsPart I. The international financial environment 1. Multinational financial management: an overview 2. International trade, measurement and theories 3. International financial markets and portfolio investment 4. Ethics Part II. Exchange rate behaviour 5. Exchange rate changes 6. Exchange rate history and the role of governments 7. Forecasting exchange rates 8. International arbitrage and covered interest rate parity 9. Relationships between inflation, interest rates and exchange rates Part III. Exchange rate risk management 10. Measuring exposure to exchange rate fluctuations 11. Market insurance: currency derivatives 12. Non-market methods of transaction management 13. Economic and translation exposure management Part IV. Long-term asset and liability management 14. Foreign direct investment 15. Country risk analysis 16. Long-term financing Part V. Short-term asset and liability management 17. Financing international trade 18. Short-term financing 19. International cash management 20. Concluding comments Appendix A: Answers to self-test questions Appendix B: Maths and statistics support Online additional reading 1. Multinational restructuring 2. Multinational cost of capital and capital structure 3. Multinational capital budgeting

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Book SynopsisThe first edition of this book won a Shingo Prize for Excellence in Manufacturing Research, and now, following in the tradition of its bestselling predecessor, The Complete Lean Enterprise: Value Stream Mapping for Office and Services, Second Edition details a robust step-by-step approach for implementing Lean initiatives in the service industry and office environments.A must-read for those looking to maximize the value they provide their customers, this new edition describes how to better align value stream improvements to strategic needs. In addition, it engages the entire organization in experimentation and connects a new management system with tiered visuals in support of leader standard work. This updated edition of a Shingo Prize Winner: Features new critical steps in planning and preparing for VSM events Includes new content and examples from the service industry, including healthTrade Review"Beau Keyte and Drew A. Locher have accomplished an ambitious task—one that can benefit anyone concerned with creating maximum value for customers with as little waste as possible. ... Beau and Drew expand the use of the now-proven Value Stream Mapping (VSM) tool to indirect, support operations, and services, locations and sources of so much waste. VSM as introduced by Beau and Drew seeks to enable users to see administrative and service waste, identify its sources, and develop a future state that eliminates it so that scarce resources can then be focused on those activities truly necessary to create value. You could find no two more experienced guides for this journey than the well-traveled Beau and Drew."—From the Foreword by Dan Jones and John Shook Table of ContentsApplying Value Stream Mapping to Information Management. Getting Started: Mapping Office and Service Value Streams. Identifying Office and Service Waste. Assessing the Current State. Quick Loan Bank Current State. Designing a Future State. Quick Loan Bank Future State. Achieving the Future State. Leading in the Future State. Summary. Appendices: Suggested Reading. Demand Rate. Index.

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