Political economy Books
Princeton University Press The Rise of the Agricultural Welfare State
Book SynopsisA long-dominant reading of American politics holds that public policy in the United States is easily captured by special interest groups. Countering this view, this title traces the development of government intervention in agriculture from its nineteenth-century origins to contemporary struggles over farm subsidies.Trade ReviewOne of Choice's Outstanding Academic Titles for 2001 "A good read on the origin, evolution, and contemporary politics of agricultural-support policies in the United States, France and Japan."--Foreign Affairs "A splendid comparative study of agricultural policy processes in the US, France, and Japan."--Choice "This historical and comparative analysis is well executed... The book makes a contribution by virtue of its historical sweep and the quality of research... A helpful addition to the growing body of historical institutionalist literature that demonstrates the influence of macro- and sectoral-level institutions on policymaking."--Grace Skogstad, American Political Science ReviewTable of ContentsList of Illustrations ix Preface xi Introduction 3 Chapter 1: History, Policy, and Institutions 14 Chapter 2: Foundations of the Agricultural Welfare State 38 Chapter 3: The Challenge of Market Intervention 76 Chapter 4: The Postwar Development of the Agricultural Welfare State 127 Chapter 5: The Politics of Agricultural Retrenchment 181 Conclusion 239v Bibliography 249 Index 275
£42.50
Princeton University Press Capital and Collusion
Book SynopsisWhy does capital formation often fail to occur in developing countries? This work explores the political incentives that either foster growth or steal nations' growth prospects. It examines the frontier between risk and uncertainty, analyzing the forces driving development in both developed and undeveloped regions.Trade Review"Capital and Collusion provides an interesting read for anyone attracted by the complexity of international political economic development... By highlighting the forces at work in developing countries, Root addresses the notion that distribution of wealth is often complex and requires situation specific responses to nations who are hindered by collusive cultural practices."--Andrew J. Prelog, Journal of Economic IssuesTable of ContentsTables and Figures ix PART I: Analytical Perspectives 1 CHAPTER ONE: Risk, Uncertainty, and Social Progress 3 CHAPTER TWO: Social Foundations of Policy Credibility 17 CHAPTER THREE: Politics and Economic Structure: The Economic Logic of Autocracy 35 CHAPTER FOUR: An Amazing Economy of Information: The Financial System 48 PART II: Regional and National Complexity 57 CHAPTER FIVE: Closing the Social Productivity Gap in East Asia 59 CHAPTER SIX: The Price of Exclusion: Latin America's Explosive Debt 89 CHAPTER SEVEN: Why Not India?New Century, New Country 114 CHAPTER EIGHT: Pakistan on the Edge 157 CHAPTER NINE: China's Capitalist Dream: Between Hierarchy and Market 187 PART III: Conclusion 219 CHAPTER TEN: Mobilizing the State as Public Risk Manager 221 CONCLUSION: Uncertainty, Competition, and Collusion in Early Capital Accumulation 246 Acknowledgments 249 Appendix 1 Data Sources 251 Appendix 2 Variables 252 Notes 253 References 307 Index 327
£49.30
Princeton University Press Paying the Tab
Book SynopsisWhat drug provides Americans with the greatest pleasure and the greatest pain? The answer, hands down, is alcohol. This title calls for broadening our approach to curbing destructive drinking. It chronicles the history of our attempts to legislate morality, the overlooked lessons from Prohibition, and the rise of Alcoholics Anonymous.Trade Review"A wonderful little book... Draws on history, political philosophy and straight economics to point out that higher alcohol taxes would fit squarely in the American tradition."--David Leonhardt, New York Times "As laws against smoking and drugs become more draconian, the relative regulatory neglect of alcohol remains a mystery. Much of this mystery--at least in the US context--has recently been dispelled in Paying the Tab, a gem of social science by the Duke University economist Philip Cook... Mr. Cook's original and very literary book shows how certain principles of markets and regulation break down when a cherished commodity happens to be a mind-altering (and judgment-impairing) drug."--Christopher Caldwell, Financial Times "As one of the nation's leading public policy scholars, Cook brings his substantial background in applied economics research to bear on the topic of alcohol policy. In the process, he presents a first-rate example of how to approach a controversial social issue using economic reasoning. Ultimately arguing in favor of enhanced control (but far short of prohibition) to reduce the incidence of drinking, Cook does not reach this conclusion casually. Instead, he considers a full range of costs and benefits of alcohol control policy, including the enjoyment moderate drinking brings to many people...Cook provides the reader with an accessible, up-to-date treatise that is essential reading for anyone interested in social policy relating to alcohol control. Paying the Tab should be on every public policy professor's reading list."--H. Winter, Choice "In his book Paying the Tab, Philip Cook presents a comprehensive in-depth analysis of this complex policy issue. The book includes a review of the history of alcohol control in the United States, determines the evidence of its effectiveness, and provides an assessment of the proven policy options intended to curb alcohol use. I highly recommend this book to anyone who seeks to understand the effect of alcohol control policies in the United States. It is a must-read for anyone involved in legislative efforts to implement and strengthen such policies."--Bernd Wollschlaeger, Journal of the American Medical Association "Paying the Tab offers a wide-ranging historical and social scientific perspective on alcohol in the United States and argues that more must be done to control the consumption of alcohol."--Jennifer Prah Ruger, Ph.D., New England Journal of Medicine "Philip Cook does not offer us an economic history here, but his book should still be of interest to American economic historians and anyone interested in addiction, alcohol and related problems. He ably reviews and dissects an extensive literature to make the case for additional alcohol control policies."--Mark Thornton, EH.Net "Philip Cook's book, Paying the Tab, is an excellent book for academics, policy analysts, and graduate students to use as a primary source on U.S. alcohol policy... Cook sets precedence for all other authors who write on substance abuse policy should follow. He provides both an in-depth analysis of one drug by examining it through historical, economic and social viewpoints."--Dwight Vick, International Journal of Drug PolicyTable of ContentsList of Illustrations ix Preface xi CHAPTER 1: Introduction 1 PART I Rise and Fall of Alcohol Control 11 CHAPTER 2: A Brief History of the Supply Side 13 CHAPTER 3: The Alcoholism Movement 34 PART II Evidence of Effectiveness 47 CHAPTER 4: Drinking: A Primer 49 CHAPTER 5: Prices and Quantities 65 CHAPTER 6: Alcohol Control as Injury Prevention 82 CHAPTER 7: Long-Term Effects: Hearts and Minds 107 CHAPTER 8: The Drinker's Bonus 120 PART III Assessing Policy Options 131 CHAPTER 9: Evaluating Interventions 133 CHAPTER 10: Regulating Supply 148 CHAPTER 11: Taxing the Alcohol Industry 165 CHAPTER 12: Youth as a Special Case 179 CHAPTER 13: Alcohol-Control Policy for the Twenty-First Century 196 Methodological Appendix 203 Notes 207 References 221 Index 249
£46.75
Princeton University Press Death by a Thousand Cuts The Fight over Taxing
Book SynopsisUnravels the following mystery: how is it that the estate tax, which has been on the books continuously since 1916 and is paid by only the wealthiest two percent of Americans, was repealed in 2001 with broad bipartisan support? This work is a portrait of American politics as viewed through the lens of the death tax repeal saga.Trade ReviewHonorable Mention for the 2005 Award for Best Professional/Scholarly Book in Government and Political Science, Association of American Publishers "This is one of the most interesting books about politics, and power, and the way the world is going, that you are ever likely to read. What makes it so fascinating is that it is a mystery story. The mystery is this: how did the repeal of a tax that applies only to the richest 2 percent of American families become a cause so popular and so powerful that it steamrollered all the opposition placed in its way... This is not simply a story about the United States... [T]he moral of the tale is far wider than that... Instead this is a tale about the power of narrative in politics, and the increasing ease with which individual stories can be made the be-all and end-all of political debate."--David Runciman, London Review of Books "[Michael] Graetz ... And [Ian] Shapiro ... Set out to unravel what on the surface appears a mystery ... Fueled a grassroots campaign that ended up throwing Democrats on the defensive... Graetz and Shapiro make a convincing case that propaganda was not the chief reason the campaign to repeal the estate tax gathered steam. A far more important factor was that throughout the 1990s, the only people in Washington making impassioned moral arguments about it were antitax conservatives."--Eyal Press, The Nation "Public-policy reporting at its finest. But Death by a Thousand Cuts is much more. It is also an important manual on moral arguments in contemporary politics."--David Cay Johnston, The American Prospect "[A] lively legislative chronicle."--Amith Shlaes, Financial Times "An elegant exegesis of the broad-based political forces that were brought together to fight against a tax that affects only the richest 1% to 2%... There is a moral argument in favor of estate taxes that deserves to be heard above the clatter of the repeal juggernaut. This book is one of the first peeps in its defense."--Elizabeth Bailey, The New York Sun "Death by a Thousand Cuts is a timely and important book... [I]t provides an enlightening and insightful account of the American political and tax systems."--Theodore Pollack, New York Law Journal "Graetz and Shapiro are at their best when depicting the subterranean interplay between activists, think tanks, lobbyists, and donors that fuels federal politics."--Daniel Franklin, Washington Monthly "How could a tax paid by only the richest 2 percent of Americans become a cause celebre for a broad swath of middle-class farmers, businessmen and average Joes? [Graetz and Shapiro] provide a fascinating and readable explanation."--Jonathan Weisman, Washington Post "The book is engaging, enlightening, and thought-provoking... Graetz and Shapiro have written a remarkable book that deserves a wide audience. Their account of 'the fight over taxing inherited wealth' is notable not only for its sophisticated and penetrating analysis, but also for its scrupulous fairness."--Karen C. Burke and Grayson M.P. McCouch, Tax Notes "Instead of rehashing the tired arguments about whether or not the estate tax should exist, these scholars undertook an incredible series of high-level interviews with the leading actors involved in this critical debate. The result is an easily accessible but highly insightful examination of the tax climate in early 21st century America... Death by a Thousand Cuts clearly sounds a wake-up call to anyone who has not already seen how much the political center has shifted regarding the fundamental issues of what government should do and who should pay for it."--Richard L. Kaplan, National Tax Journal "However you feel about the death tax, the book will make you glad that the power that controls our deaths is not the same one that controls our taxes."--Accounting TodayTable of ContentsAn American Story 1 1. A Political Mystery 3 2. Genesis of the Repeal Coalition 12 3. Squall or Sea Change? 24 4. An Opportunity Missed 32 5. An Advocate for the Working Rich 41 6. Stories from the Grasstops 50 7. Changing the Face for Repeal 62 8. Talking the Talk 74 9. Exploiting the Think Tank Gap 85 10. Disorganized Democrats 99 11. Pushing against an Open Door 107 12. The Running Room of Public Opinion 119 The Battle for Passage 131 13. The Missing Link 133 14. Building a Strong Offense 143 15. The Birth of a New Coalition 154 16. Billionaires Battle 168 17. Paint-by-Numbers Lawmaking 178 18. The Final Four 194 19. Winners, Losers, and Uncertainty 206 Lessons Learned and Missed 219 20. Stories Trump Science 221 21. Money, Money, Money 239 22. Morals of the Mysteries 253 23. Another Storm Gathering 266 Epilogue 279 Glossary 283 Bibliographic Essay 293 Acknowledgments 357 Index 359
£28.80
Princeton University Press Services and Employment Explaining the
Book SynopsisWhy is Europe's employment rate almost 10 percent lower than that of the United States? Drawing on the findings of a project that examined data from France, Germany, Netherlands, United Kingdom, and the United States, this work argues that Europe's 25 million "missing" jobs can be attributed almost entirely to its relative lack of service jobs.Trade Review"The significance of this volume for public policy is that the authors' hypotheses offer a rebuttal to the more familiar explanations criticizing European labor laws and social service policies as the rationale for substantial changes in employment in the past few years."--Choice "[I]t becomes apparent from this book, which we would highly recommend reading, that the problem of contemporary developed economies is less their degree of de-industrialisation than their gap in servicisation."--Faiz Gallouj, Journal of Evolutionary Economics "Services and Employment is an impressive and stimulating book that takes an unconventional supply-side oriented look at the employment gap between the USA and Europe and offers theoretical as well as empirical insights."--Engelbert Stockhammer, InterventionTable of ContentsPreface vii Contributors ix Introduction by Mary Gregory, Wiemer Salverda, and Ronald Schettkat 1 Chapter 1: The U.S.-European Gap in Service Employment and Demand: The Research Agenda by Wiemer Salverda and Ronald Schettkat 15 Chapter 2: Reflections on the Rise of Service Sector Employment by Victor R. Fuchs 42 Chapter 3: On Mechanisms Underlying the Growing Share of Service Employment in the Industrialized Economies by William J. Baumol 63 Chapter 4: Do Demand Differences Cause the U.S.-European Employment Gap? by Mary Gregory and Giovanni Russo 81 Chapter 5: Comparative Service Consumption in Six Countries by Adriaan S. Kalwij and Stephen Machin with Laura Blow, Marijke van Deelen, Francois Gardes, Maria-Jose Luengo-Prado, Javier Ruiz-Castillo, John Schmitt, and Christophe Starzec 109 Chapter 6: Employment Differences in Distribution: Wages, Productivity, and Demand by Andrew Glyn, Joachim Moller, Wiemer Salverda, John Schmitt, and Michel Sollogoub 141 Chapter 7: Why Was Europe Left at the Station When America's Productivity Locomotive Departed? by Robert J. Gordon 176 Chapter 8: Can Marketization of Household Production Explain the Jobs Gap Puzzle? by Richard B. Freeman 198 Chapter 9: Service Included? Services and the U.S.-European Employment Gap by Mary Gregory, Wiemer Salverda, and Ronald Schettkat 217 Bibliography 231 List of DEMPATEM Working Papers 241 Index 243
£80.75
Princeton University Press Why Are There So Many Banking Crises The
Book SynopsisAlmost every country in the world has sophisticated systems to prevent banking crises. Yet, such crises remain common throughout the world. This title examines the causes of banking crises around the world, focusing on the lender of last resort; prudential regulation and the management of risk; and solvency regulations.Trade Review"Among economists' explanations are moral hazard, ill-judged capital adequacy rules and the incompetence of supervisors. Jean-Charles Rochet, a leading authority on banking, argues the real problem lies with politicians who too often insist on rescuing insolvent banks for short-term reasons of their own. [W]hatever the verdict on the policy proposals, the book makes interesting reading in current circumstances."--John Plender, Financial Times "The book provides an excellent introduction to the theory of banking regulation... I can recommend the book to anyone interested in a formal, academic approach to banking regulation. The concise conclusions of the individual articles provide valuable ideas for changes in banking regulation."--Bernd Brommundt, Financial Markets and Portfolio ManagementTable of ContentsPreface and Acknowledgments ix General Introduction and Outline of the Book 1 References 14 PART 1. WHY ARE THERE SO MANY BANKING CRISES? 19 Chapter 1: Why Are There So Many Banking Crises? by Jean-Charles Rochet 21 1.1 Introduction 21 1.2 The Sources of Banking Fragility 23 1.3 The Lender of Last Resort 24 1.4 Deposit Insurance and Solvency Regulations 27 1.5 Lessons from Recent Crises 28 1.6 The Future of Banking Supervision 30 References 33 PART 2. THE LENDER OF LAST RESORT 35 Chapter 2: Coordination Failures and the Lender of Last Resort: Was Bagehot Right After All? by Jean-Charles Rochet and Xavier Vives 37 2.1 Introduction 37 2.2 The Model 41 2.3 Runs and Solvency 44 2.4 Equilibrium of the Investors' Game 47 2.5 Coordination Failure and Prudential Regulation 53 2.6 Coordination Failure and LLR Policy 55 2.7 Endogenizing the Liability Structure and Crisis Resolution 58 2.8 An International LLR 63 2.9 Concluding Remarks 66 References 67 Chapter 3: The Lender of Last Resort: A Twenty-First-Century Approach by Xavier Freixas, Bruno M. Parigi, and Jean-Charles Rochet 71 3.1 Introduction 71 3.2 The Model 75 3.3 Efficient Supervision: Detection and Closure of Insolvent Banks 81 3.4 Efficient Closure 85 3.5 Central Bank Lending 89 3.6 Efficient Allocation in the Presence of Gambling for Resurrection 95 3.7 Policy Implications and Conclusions 97 3.8 Appendix 98 References 101 PART 3. PRUDENTIAL REGULATION AND THE MANAGEMENT OF SYSTEMIC RISK 103 Chapter 4: Macroeconomic Shocks and Banking Supervision by Jean-Charles Rochet 105 4.1 Introduction 105 4.2 A Brief Survey of the Literature 106 4.3 A Simple Model of Prudential Regulation without Macroeconomic Shocks 108 4.4 How to Deal with Macroeconomic Shocks? 112 4.5 Is Market Discipline Useful? 118 4.6 Policy Recommendations for Macroprudential Regulation 121 References 123 Chapter 5: Interbank Lending and Systemic Risk by Jean-Charles Rochet and Jean Tirole 126 5.1 Benchmark: No Interbank Lending 132 5.2 Date-0 Monitoring and Optimal Interbank Loans 139 5.3 Date-1 Monitoring, Too Big to Fail, and Bank Failure Propagations 148 5.4 Conclusion 153 5.5 Appendix: Solution of Program (P) 155 References 157 Chapter 6: Controlling Risk in Payment Systems by Jean-Charles Rochet and Jean Tirole 159 6.1 Taxonomy of Payment Systems 161 6.2 Three Illustrations 166 6.3 An Economic Approach to Payment Systems 173 6.4 Centralization versus Decentralization 181 6.5 An Analytical Framework 184 6.6 Conclusion 191 References 192 Chapter 7: Systemic Risk, Interbank Relations, and the Central Bank by Xavier Freixas, Bruno M. Parigi, and Jean-Charles Rochet 195 7.1 The Model 199 7.2 Pure Coordination Problems 205 7.3 Resiliency and Market Discipline in the Interbank System 207 7.4 Closure-Triggered Contagion Risk 210 7.5 Too-Big-to-Fail and Money Center Banks 213 7.6 Discussions and Conclusions 215 7.7 Appendix: Proof of Proposition 7.1 217 References 222 PART 4. SOLVENCY REGULATIONS 225 Chapter 8: Capital Requirements and the Behavior of Commercial Banks by Jean-Charles Rochet 227 8.1 Introduction 227 8.2 The Model 230 8.3 The Behavior of Banks in the Complete Markets Setup 231 8.4 The Portfolio Model 238 8.5 The Behavior of Banks in the Portfolio Model without Capital Requirements 240 8.6 Introducing Capital Requirements into the Portfolio Model 244 8.7 Introducing Limited Liability into the Portfolio Model 246 8.8 Conclusion 249 8.9 Appendix 250 8.10 An Example of an Increase in the Default Probability Consecutive to the Adoption of the Capital Requirement 256 References 257 Chapter 9: Rebalancing the Three Pillars of Basel II by Jean-Charles Rochet 258 9.1 Introduction 258 9.2 The Three Pillars in the Academic Literature 259 9.3 A Formal Model 260 9.4 Justifying the Minimum Capital Ratio 266 9.5 Market Discipline and Subordinated Debt 268 9.6 Market Discipline and Supervisory Action 269 9.7 Conclusion 272 9.8 Mathematical Appendix 274 References 277 Chapter 10: The Three Pillars of Basel II: Optimizing the Mix by Jean-Paul Decamps, Jean-Charles Rochet, and Benoit Roger 281 10.1 Introduction 281 10.2 Related Literature 284 10.3 The Model 287 10.4 The Justification of Solvency Requirements 292 10.5 Market Discipline 294 10.6 Supervisory Action 298 10.7 Concluding Remarks 302 10.8 Appendix: Proof of Proposition 9.2 303 10.9 Appendix: Optimal Recapitalization by Public Funds Is Infinitesimal (Liquidity Assistance) 303 10.10 Appendix: Proof of Proposition 9.3 304 References 305
£69.70
Princeton University Press Tocquevilles Political Economy
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£46.75
Princeton University Press Running the Worlds Markets
Book SynopsisThe efficiency of financial markets depends on the operation of core infrastructure - exchanges, central counter-parties, and central securities depositories. This book examines how markets are, and should be, run. It evaluates the similarities and differences between exchanges, central counter-parties, and central securities depositories.Trade Review"Overall, this excellent work is a must-read for anybody involved in the regulation of market infrastructure institutions. It provides valuable lessons and cautionary tales for how to create a sturdy and stable financial market infrastructure."--Journal of International Banking Law and RegulationTable of ContentsForeword and Acknowledgments xi List of Acronyms xiii Introduction 1 Nature of Governance 1 Concerns 2 Issues 3 Approach 3 Structure 4 Part One: Background Information and Analysis 7 Chapter One: Definitions 9 Infrastructure 9 Exchanges, Central Counterparties, and Central Securities Depositories 21 Conclusions 36 Chapter Two: Market Power 40 Preliminary Comments 40 Exchanges 45 CCPs 61 CSDs 71 Conclusions 81 Part Two: Survey Evidence 83 Chapter Three: The Allocation of Regulatory Powers over Securities Markets 85 World Federation of Exchanges 85 International Council of Securities Associations 88 Infrastructure Institutions in Major Markets 90 Conclusions 114 Chapter Four: Regulation and Governance of MarketInfrastructure Institutions: Global Perspective 117 The Financial Sector Assessment Program and Securities Markets Assessments 117 Observations 125 Conclusions 141 Chapter Five: Governance of Market Infrastructure Institutions: A Snapshot 145 Data 146 Analysis 151 Conclusions 164 Part Three: Case Studies 167 Chapter Six: Exchanges 169 Deutsche Borse / London Stock Exchange: Proposed iX Merger 2000 170 Euronext: Purchase of LIFFE 2001 177 Hong Kong Exchanges and Clearing: The Penny Stocks Incident 2002 180 NASDAQ: Attempted Takeover of London Stock Exchange 2006-8 189 New York Stock Exchange: Resignation of Chairman-CEO 2003 194 Osaka Securities Exchange: "Murakami Fund" Purchase of Shares 2005 198 Chapter Seven: CCPs and CSDs 201 Canadian Depository for Securities: Ownership, Usage, and Board Representation to 2008 201 Depository Trust & Clearing Corporation: EuroCCP 2000-2002 207 Deutsche Borse: Creation of Clearstream International 1999-2002 213 Euroclear: Creation, Ownership, and Board Structure up to 2006 217 LCH.Clearnet: Creation and Difficulties 2003-6 231 Part Four: Policy Analysis and Recommendations 245 Chapter Eight: What Is the Most Efficient Governance Structure? 247 Ownership and Mandate: Archetypal Models and Primary Goals 248 Ownership Model and Mandate: Critical Factors Affecting Efficiency 253 The Board: Role and Composition 276 Concluding Discussion and General Propositions 293 Chapter Nine: Who Should Regulate What? 301 Complexity 301 Factors and Constraints Affecting Relative Merits of Different Allocation Structures 307 Concluding Discussion and General Propositions 334 Chapter Ten: How Should Market Infrastructure Institution Governance Be Regulated? 339 Preliminary Comments 339 Investor Protection 342 Efficiency, Fairness, and Transparency 348 Systemic Risk Reduction 353 Concluding Discussion and General Propositions 357 Authorities 363 Cases and Decisions 365 Notes 367 References 395 List of Contributors 433 Index 437
£59.50
Princeton University Press Reputation and International Cooperation
Book SynopsisHow does cooperation emerge in a condition of international anarchy? This book attempts to answer this fundamental question through a study of international debt across three centuries. It explains how governments acquire reputations in the eyes of investors, and argues that concerns about reputation sustain international lending and repayment.Trade ReviewWinner of the 2008 Giovanni Sartori Award, for the Best Book Developing or Applying Qualitative Methods Published in 2007 "In an extraordinarily well-researched and very interesting book on the not so interesting subject of sovereign debt, Michael Tomz shows that contrary to popular belief and several dominant theories, states do now and have always cared about their international financial reputations."--Anastasia Xenias, Political Science Quarterly "Tomz has gathered a large amount of quantitative and qualitative historical evidence from archives and libraries in nine countries. International historians can benefit both from reading his case studies and from thinking about the role of market forces in international relations in the light of his theory on sovereign debt."--G.C. Peden, The International History ReviewTable of ContentsList of Tables ix List of Figures xi Preface xiii PART ONE: THEORY 1 Chapter 1: The Puzzle of Cooperation in International Debt 3 Chapter 2: A Theory of Cooperation through Reputation 14 PART TWO: EVIDENCE 37 Chapter 3: Reputations of New and Seasoned Borrowers 39 Chapter 4: Reputation in Expert Opinion 70 Chapter 5: Reputations during Good Times and Bad 86 Chapter 6: Enforcement by Gunboats 114 Chapter 7: Enforcement through Trade Sanctions 158 Chapter 8: Enforcement through Collective Retaliation 196 PART THREE: IMPLICATIONS 221 Chapter 9: Reputation and Cooperation under Anarchy 223 Bibliography 243 Index 275
£31.50
Princeton University Press The Politics of Economic Leadership The Causes
Book SynopsisExamines when, why, and how presidents talk about the economy, and whether the president's economic rhetoric matters. This book demonstrates conclusively that such presidential words do matter. It concludes that rhetoric is indeed a tool of presidential leadership that can be used unilaterally to affect a range of political and economic outcomes.Trade Review"The book is appropriate for graduate seminars on the presidency and for quantitative methods courses that wish to include strong examples of PAR and VAR models. More generally, it should prove to be a resource for presidency, political psychology, and public opinion scholars wishing to unpack the direct and indirect causal relationships that the book identifies."--William D. Anderson, Presidential Studies QuarterlyTable of ContentsList of Illustrations ix List of Tables xi Preface xiii CHAPTER 1: Presidential Words and the Economy 1 CHAPTER 2: Measuring the Intensity and Tone of Presidential Rhetoric about the Economy 17 CHAPTER 3: What Determines the Intensity and Tone of Presidential Rhetoric on the Economy? 34 CHAPTER 4: Four Cases of a President's Rhetorical Leadership of the Economy 63 CHAPTER 5: Do Presidents Affect Public Approval of Their Job Performance through Economic Rhetoric? 109 CHAPTER 6: Does Presidential Rhetoric on the Economy Affect Economic Behavior and Performance? 136 CHAPTER 7: Why Should We Care about Presidents' Economic Rhetoric? 161 Notes 175 References 183 Index 195
£31.50
Princeton University Press International Political Economy
Book SynopsisThe field of international political economy gained prominence in the early 1970s and is an essential part of both political science and economics. This book offers the comprehensive examination of this field's development, and the contrasting worldviews of its American and British schools.Trade Review"Cohen has produced a well-crafted intellectual history of the development of the subdiscipline of international political economy."--M. Perelman, Choice "Benjamin Cohen has written a marvelous brief introduction to the development of International Political Economy (IPE) as an academic discipline... It will be read widely but needs, and deserves, to be read critically."--Bill Dunn, Journal of Australian Political Economy "Benjamin Cohen has written an excellent book in an engaging and witty style... I enjoyed reading the book, and liked how differences between the American and British schools were laid out."--Mina Baliamoune-Lutz, Eastern Economic JournalTable of ContentsList of Illustrations ix Acknowledgments xi Abbreviations xiii Introduction 1 CHAPTER ONE: The American School 16 CHAPTER TWO: The British School 44 CHAPTER THREE: A Really Big Question 66 CHAPTER FOUR: The Control Gap 95 CHAPTER FIVE: The Mystery of the State 118 CHAPTER SIX: What Have We Learned? 142 CHAPTER SEVEN: New Bridges? 169 References 179 Index 199
£38.25
Princeton University Press Japan Transformed
Book SynopsisWith little domestic fanfare and even less attention internationally, Japan has been reinventing itself since the 1990s, dramatically changing its political economy, from one managed by regulations to one with a neoliberal orientation. This title explores the historical, political, and economic forces that led to the country's evolution.Trade Review"Rosenbluth and Thies offer a provocative critique of Japan's political economy, claiming that electoral changes in 1994 marked a pivotal reform equal to that of the 1868 Meiji Restoration."--Choice "[T]his well-written, short book will be excellent for undergraduate and graduate courses focused on Japan, political economy and institutional change. Japan Transformed is sure to spark debate in the scholarly community about the weight which should be placed on electoral systems or electoral system change as explanations."--Daniel P. Aldrich, Journal of Contemporary Asia "Japan Transformed brings together history, culture, politics, and economics to illuminate the major developments of postwar politics in a way that will appeal to Japan specialists as well as broader audiences... Rosenbluth and Thies's book makes a significant contribution to the literature on Japan's political economy. The great strength of this work is how much it covers in so few pages."--Alisa Gaunder, Journal of Japanese Studies "The book's strength is its clear but controversial argument regarding the causal influence of electoral systems on policy outcomes, making it valuable to scholars interested in Japanese politics and a stimulating text for advanced comparative politics courses."--Kenneth Mori McElwain, Perspectives on PoliticsTable of ContentsList of Tables and Figures vii Preface ix Acknowledgments xiii Abbreviations and Stylistic Conventions xv Chapter 1: Why Study Japanese Political Economy? 1 Chapter 2: Japanese History and Culture 15 Chapter 3: Japan's Political Experiments 32 Chapter 4: The Old Japanese Politics, 1955-1993 53 Chapter 5: Japan's Postwar Political Economy 72 Chapter 6: Japan's New Politics 95 Chapter 7: Japan's New Political Economy 123 Chapter 8: Japan's Place in the World 155 Chapter 9: Conclusions 174 Epilogue: The 2009 General Election and the LDP's Fall from Power 186 Appendix 1. Japanese Electoral Systems, 1947-Present 193 Appendix 2. Election Results, House of Representatives, 1986-2005 195 Appendix 3. Election Results, House of Councillors, 1986-2007 201 Bibliography 207 Index 233
£31.50
Princeton University Press NationStates and the Multinational Corporation A
Book SynopsisUsing quantitative data and interviews with investment promotion agencies, political risk insurers, and decision makers at multinational corporations, this book concludes that countries may be competing for international capital, but government fiscal policy has little impact on multinationals' investment decisions.Trade Review"Nathan Jensen has written an interesting, empirically grounded, and provocative book... It is a serious effort to think about and test the impact of political institutions on multinational firms and flows of foreign direct investment... This is worthwhile reading for anyone interested in the political economy of FDI."--Stephen J. Kobrin, Perspectives on Politics "[T]he book captures the impact of political institutions on multinational investments and contributes to international business, organizational economics, and institutional literature streams. To the global audience, nation-states keen on enticing foreign investors will benefit from Jensen's insight."--Amit Jain, Enterprise and SocietyTable of ContentsList of Illustrations ix Preface xi List of Abbreviations xv Chapter 1: Introduction 1 Chapter 2: Multinational Firms and Domestic Governments 23 Chapter 3: Theory 40 Chapter 4: The Race to the Bottom Thesis and FDI 53 Chapter 5: Democracy and FDI 72 Chapter 6: Veto Players and FDI 100 Chapter 7: The IMF and FDI Inflows 129 Chapter 8: Conclusion 146 Notes 157 References 167 Index 185
£999.99
Princeton University Press The Behavioral Foundations of Public Policy
Book SynopsisGives insight into the methods of behavioral research, and highlight how this knowledge might influence the implementation of public policy for the improvement of society. This title illuminates the relationship between behavioral findings and economic analyses. It examines policy relevance of behavioral science to our social and political lives.Trade Review"[Behavioral Foundations of Public Policy] is a master compendium of what we know."--David Brooks, New York Times "I would recommend this book to anyone looking for a comprehensive perspective on the potential and limitations of the behavioural insights popularized by Nudge and similar works... Those in government, non-profits, and the private sector interested in empirically supported ways to motivate people to act in their own best interest will find a rich source of examples and exposure to underlying theory in The Behavioral Foundations of Public Policy."--Jennifer Miller, LSE Review of Books "[This] is a commanding summary of scholarly work testing some of the most influential theories of how and why people behave as they do, and will be a valuable resource for students, researchers and policy makers looking for a balanced and comprehensive discussion of what can work and what is not known."--Manu Savani, Political Studies ReviewTable of ContentsForeword vii Daniel Kahneman List of Contributors xi Acknowledgments xvii Introduction 1 Eldar Shafir Part 1. Prejudice and Discrimination * Chapter 1. The Nature of Implicit Prejudice: Implications for Personal and Public Policy 13 * Curtis D. Hardin, Mahzarin R. Banaji* Chapter 2. Biases in Interracial Interactions: Implications for Social Policy 32 * J. Nicole Shelton, Jennifer A. Richeson, John F. Dovidio* Chapter 3. Policy Implications of Unexamined Discrimination: Gender Bias in Employment as a Case Study 52 * Susan T. Fiske, Linda H. Krieger Part 2. Social Interactions * Chapter 4. The Psychology of Cooperation: Implications for Public Policy 77 * Tom Tyler* Chapter 5. Rethinking Why People Vote: Voting as Dynamic Social Expression 91 * Todd Rogers, Craig R. Fox, Alan S. Gerber* Chapter 6. Perspectives on Disagreement and Dispute Resolution: Lessons from the Lab and the Real World 108 * Lee Ross* Chapter 7. Psychic Numbing and Mass Atrocity 126 * Paul Slovic, David Zionts, Andrew K. Woods, Ryan Goodman, Derek Jinks Part 3. The Justice System * Chapter 8. Eyewitness Identification and the Legal System 145 * Nancy K. Steblay, Elizabeth F. Loftus* Chapter 9. False Convictions 163 * Phoebe Ellsworth, Sam Gross* Chapter 10. Behavioral Issues of Punishment, Retribution, and Deterrence 181 * John M. Darley, Adam L. Alter Part 4. Bias and Competence * Chapter 11. Claims and Denials of Bias and Their Implications for Policy 195 * Emily Pronin, Kathleen Schmidt* Chapter 12. Questions of Competence: The Duty to Inform and the Limits to Choice 217 * Baruch Fischhoff, Sara L. Eggers* Chapter 13. If Misfearing Is the Problem, Is Cost-Benefit Analysis the Solution? 231 * Cass R. Sunstein Part 5. Behavioral Economics and Finance * Chapter 14. Choice Architecture and Retirement Saving Plans 245 * Shlomo Benartzi, Ehud Peleg, Richard H. Thaler* Chapter 15. Behavioral Economics Analysis of Employment Law 264 * Christine Jolls* Chapter 16. Decision Making and Policy in Contexts of Poverty 281 * Sendhil Mullainathan, Eldar Shafir Part 6. Behavior Change * Chapter 17. Psychological Levers of Behavior Change 301 * Dale T. Miller, Deborah A. Prentice* Chapter 18. Turning Mindless Eating into Healthy Eating 310 * Brian Wansink* Chapter 19. A Social Psychological Approach to Educational Intervention 329 * Julio Garcia, Geoffrey L. Cohen Part 7. Improving Decisions * Chapter 20. Beyond Comprehension: Figuring Out Whether Decision Aids Improve People's Decisions 351 * Peter Ubel* Chapter 21. Using Decision Errors to Help People Help Themselves 361 * George Loewenstein, Leslie John, Kevin G. Volpp* Chapter 22. Doing the Right Thing Willingly: Using the Insights of Behavioral Decision Research for Better Environmental Decisions 380 * Elke U. Weber* Chapter 23. Overcoming Decision Biases to Reduce Losses from Natural Catastrophes 398 * Howard Kunreuther, Robert Meyer, Erwann Michel-Kerjan Part 8. Decision Contexts * Chapter 24. Decisions by Default 417 * Eric J. Johnson, Daniel G. Goldstein* Chapter 25. Choice Architecture 428 * Richard H. Thaler, Cass R. Sunstein, John P. Balz* Chapter 26. Behaviorally Informed Regulation 440 * Michael S. Barr, Sendhil Mullainathan, Eldar Shafir Part 9. Commentaries * Chapter 27. Psychology and Economic Policy 465 * William J. Congdon* Chapter 28. Behavioral Decision Science Applied to Health-Care Policy 475 * Donald A. Redelmeier* Chapter 29. Quis custodiet ipsos custodes? Debiasing the Policy Makers Themselves 481 * Paul Brest* Chapter 30. Paternalism, Manipulation, Freedom, and the Good 494 * Judith Lichtenberg Index 499
£52.70
Princeton University Press Quantitative Techniques for Competition and
Book SynopsisCombines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. This book shows how to integrate empirical methods, economic theory, and evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data.Trade Review"This book will be eminently helpful to both the practitioner with an undergraduate background in economics and to the academic economist. It offers the practitioner a clear and concise rendering of the techniques used in antitrust analysis. It offers the academic an explanation of the issues that arise in antitrust cases and the institutional setting in which they are analyzed."—Ariel Pakes, Harvard University"An excellent and wide-ranging introduction to the new econometric literature that has played an increasingly important role in competition policy over the past decade."—John Sutton, London School of Economics and Political Science"Davis and Garcés have filled a longstanding gap in the market with their detailed overview of modern empirical research in industrial organization. Their book would be an excellent text for a graduate class in empirical industrial organization. More generally, the authors provide a comprehensive introduction to the field."—Robert Porter, Northwestern University"There is no other book like this on the market. The authors provide essential guidance for skilled antitrust practitioners who want to learn up-to-date empirical methods. The comprehensive body of material, skillfully explained, will also be of great use to graduate students and academics who want to explore the intersections of policy and econometric practice."—Steven Berry, Yale University"This book provides a comprehensive overview of quantitative techniques used in competition analysis, ranging from very simple methods when limited data are available to the most advanced and state-of-the-art techniques. It fills important gaps because no other recent book combines insights from empirical industrial organization and quantitative competition policy analysis. There is also a very good mix between discussion of techniques and cases. Although its primary audience is practitioners at competition policy authorities, it will also interest academics and consultants and can serve as a textbook for advanced masters and PhD courses."—Frank Verboven, Katholieke Universiteit Leuven"This very useful book is a great addition to the discipline. Applied industrial organization is a rapidly developing field, with many open areas and problems, but practitioners are often forced to work with what is available to make antitrust decisions. A good user's manual like this one is important to have. I am sure practitioners will find this a handy toolbox."—Maarten Pieter Schinkel, University of AmsterdamTable of ContentsPreface ix Acknowledgments xii Chapter 1: The Determinants of Market Outcomes 1 1.1 Demand Functions and Demand Elasticities 1 1.2 Technological Determinants of Market Structure 19 1.3 Competitive Environments: Perfect Competition, Oligopoly, and Monopoly 37 1.4 Conclusions 61 Chapter 2: Econometrics Review 62 2.1 Multiple Regression 63 2.2 Identification of Causal Effects 89 2.3 Best Practice in Econometric Exercises 113 2.4 Conclusions 119 2.5 Annex: Introduction to the Theory of Identification 121 Chapter 3: Estimation of Cost Functions 123 3.1 Accounting and Economic Revenue, Costs, and Profits 125 3.2 Estimation of Production and Cost Functions 131 3.3 Alternative Approaches 149 3.4 Costs and Market Structure 158 3.5 Conclusions 160 Chapter 4: Market Definition 161 4.1 Basic Concepts in Market Definition 162 4.2 Price Level Differences and Price Correlations 169 4.3 Natural Experiments 185 4.4 Directly Estimating the Substitution Effect 191 4.5 Using Shipment Data for Geographic Market Definition 198 4.6 Measuring Pricing Constraints 201 4.7 Conclusions 227 Chapter 5: The Relationship between Market Structure and Price 230 5.1 Framework for Analyzing the Effect of Market Structure on Prices 231 5.2 Entry, Exit, and Pricing Power 256 5.3 Conclusions 282 Chapter 6: Identification of Conduct 284 6.1 The Role of Structural Indicators 285 6.2 Directly Identifying the Nature of Competition 300 6.3 Conclusions 341 6.4 Annex: Identification of Conduct in Differentiated Markets 343 Chapter 7: Damage Estimation 347 7.1 Quantifying Damages of a Cartel 347 7.2 Quantifying Damages in Abuse of Dominant Position Cases 377 7.3 Conclusions 380 Chapter 8: Merger Simulation 382 8.1 Best Practice in Merger Simulation 383 8.2 Introduction to Unilateral Effects 386 8.3 General Model for Merger Simulation 401 8.4 Merger Simulation: Coordinated Effects 426 8.5 Conclusions 434 Chapter 9: Demand System Estimation 436 9.1 Demand System Estimation: Models of Continuous Choice 437 9.2 Demand System Estimation: Discrete Choice Models 462 9.3 Demand Estimation in Merger Analysis 491 9.4 Conclusions 499 Chapter 10: Quantitative Assessment of Vertical Restraints and Integration 502 10.1 Rationales for Vertical Restraints and Integration 503 10.2 Measuring the Effect of Vertical Restraints 518 10.3 Conclusions 553 Conclusion 555 References 557 Index 577
£117.30
Princeton University Press Before the Deluge Public Debt Inequality and the
Book SynopsisMadame de Pompadour's comment, 'Apres moi, le deluge' (after me, the deluge), has looked like a callous if accurate prophecy of the political cataclysms in 1789. But decades before the Bastille fell, French writers had used the phrase to describe a different kind of selfish recklessness. This book examines these fears and the responses to them.Trade Review"We now think of the French Revolution as a political revolution that had a social effect, but 'the eighteenth century's concern' was of an 'extant and ongoing social revolution that would soon have political consequence'. This is the central insight of Michael Sonenscher's new book. [In this] highly interesting book...Sonenscher's emphasis on public credit is novel and useful. [I]t is a genuinely meaningful contribution to the history of Enlightenment Europe."--Patrice Higonnet, Times Literary Supplement "Underrated: Before the Deluge, Michael Sonenscher (Princeton). Most modern political debates can be traced back to rival stories about the French revolution; but this tough, fascinating book shows that these stories were constructed out of materials (concerning political ruin and public debt) that were circulating before the event--which makes the whole of modern politics look rather different."--Jonathan Ree, Prospect Magazine "The best history-of-political-thought volume I read this year was Michael Sonenscher's Before the Deluge: Public Debt, Inequality and the Intellectual Origins of the French Revolution, which goes to show how the eighteenth-century political economy scholarship of the last generation or so can be put to work to address the really big historiographical questions."--Christopher Brooke, The Virtual Stoa "This brief review cannot begin to capture the nuance and sophistication of Sonenscher's careful, complex archaeology of the intellectual origins of the French Revolution. He reminds readers that all the thinkers he profiles experienced the creation of the modern European world over a lifetime, changing their minds, reformulating questions, and reexamining inherited ideas as events unfolded, trying to hit on if not universal then at least workable solutions to the perdurable problems of balancing liberty with security. We can appreciate the difficulties they encountered during their journey if only because it continues in our own day, and for that abiding lesson we have much for which to thank Michael Sonenscher."--Michael Wolfe, The Historian "Before the Deluge provides an intellectual history of French political life in the eighteenth century which, for the first time, makes the events of 1789 explicable in their own terms... The result is a perspective on the early revolution, its ideological origins and consequences, that is brilliant, politely iconoclastic and thoroughly revisionist."--Richard Whatmore, History of Political Thought "Superbly researched and thoroughly referenced, the originality of Michael Sonenscher's study lies in illuminating the very real political problems faced by French Revolutionary regimes in the 1790s through an examination of the fraught relationship between public credit and social inequality as debated in contemporary political thought... [A] fascinating reconstruction of the sophisticated, contradictory dynamics of eighteenth-century French political thought."--David McCallam, French Studies "Sonenscher is widely recognized as one of the most versatile historians of ancien regime France, an ambitious thinker who writes knowledgeably about subjects as diverse as guild life, social class, natural law theory, and political philosophy. The versatility is on display in [Before the Deluge]."--Jay M. Smith, American Historical Review "[T]his is a formidable book by a historian at the height of his powers. No eighteenth-century scholar or historian of political thought can afford to ignore its fresh interpretation of Enlightenment political economy. Readers will be rewarded with a deeper appreciation for the intellectual ramifications of the birth of the modern state."--Michael Kwass, Journal of Modern History "At its best, the book is a tour de force of state-of-the-art intellectual history... Before the Deluge is at bottom a supremely learned and forcefully engaged contribution to topics of vital interest to a wide audience of eighteenth-century French specialists, and one whose analyses and arguments consistently take place at a very high level of sophistication. Even in an age of praise inflation, it is not excessive to call this one essential reading."--Henry C. Clark, H-France Review "This is an intensely interesting book, a striking achievement, based on copious and careful rereading of a huge corpus of intellectual debate over more than a century... It is ... good in this age of sweeping claims for significant revelation to encounter a book showing you so much you didn't know, and only suggesting, rather than demanding, that it change everything you thought you knew."--David Andress, European History Quarterly "Before the Deluge offers many exciting intellectual avenues for further pursuit, especially in terms of eighteenth-century political thought, but also with regard to nineteenth-century liberalism and the development of various philosophies of history which took 1789 as a main event in the advent of modernity."--Isabel DiVanna, Perspectives on Politics "Sonenscher's opera magna constitute an enormous achievement. Revealing a new face of eighteenth-century intellectual history and recovering a myriad of forgotten works, they are sure to be read--indeed to be used as references--for years to come."--Carolina Armenteros, French HistoryTable of ContentsACKNOWLEDGEMENTS ix INTRODUCTION 1 Chapter 1: Facing the Future 22 Three Descriptions of the French Revolution 22 The Terror and Its Causes 34 Balanced Government and the English Constitution 41 England's Future in a French Context 52 Sieyes and His Contemporaries 67 True Monarchy, or the Idea of a Modern Republic 75 Chapter 2: Montesquieu and the Idea of Monarchy 95 The Troglodytes and the Morality of Monarchy 95 Law's System, the Abbe de Saint-Pierre, and the Grand Design 108 From The Persian Letters to The Spirit of Laws 121 The Inheritance of Property and the Inheritance of Thrones 131 The Problem of Sovereignty and the Nature of Monarchy 149 Jansenism 153 Fenelon and His Legacy 159 Trade, the System of Ranks, and the Alternative to Public Credit 166 Chapter 3: Morality and Politics in a Divided World 173 Montesquieu's Legacy 173 Francois Veron de Forbonnais and the Limits of Trade 179 Physiocracy, or The Natural and Essential Order of Political Societies 189 From Friendship to Mankind to Political Economy 199 Rousseau and Physiocracy 222 Rousseau and Mably 239 Chapter 4: Industry and Representative Government 254 Agriculture, Industry, and Inequality 254 Helvetius 266 Turgot 281 Chastellux 290 Jacques Necker and Burke's Paradox 302 Joseph Fauchet and Pierre-Paul Gudin de la Brenellerie 311 Pierre-Louis Roederer 322 Jean-Baptiste Say 334 CONCLUSION 349 BIBLIOGRAPHY 373 INDEX 403
£38.25
Princeton University Press Beyond Mechanical Markets
Book SynopsisIn the wake of the global financial crisis that began in 2007, faith in the rationality of markets has lost ground to a new faith in their irrationality. This title shows how the failure to abandon this assumption hinders our understanding of how markets work, why price swings help allocate capital to worthy companies.Trade ReviewFinalist for the 2011 Paul A. Samuelson Award, TIAA-CREF One of Financial Times (FT.com) non-fiction favourites commended by Martin Wolf, Financial Times chief economics commentator, for 2011 "The debate over how to re-regulate [markets and banks] to avoid another financial crisis is urgent and it cannot conclude without resolving the problem that economics' most basic assumption is flawed. [Beyond Mechanical Markets is one] of the most interesting contributions [to] find a new way to model markets."--John Authers, Financial Times "[Beyond Mechanical Markets] marshals a powerful argument that's bolstered by empirical reality: the eternal failures of mechanical forecasting; the sheer difficulty of beating the market with consistency; the unforeseeable ways that history unfolds... [It's approach] seeks to reach beneficial outcomes through flexible, empirical response to [changing] conditions."--Robert Teitelman, Huffington Post "[A] groundbreaking look at how to tame asset booms and busts... [O]f all the books I've read on the crisis that began in 2007, this one comes closest to laying foundation for a more pragmatic and genuinely useful school of economics."--James Pressley, Bloomberg News "[Beyond Mechanical Markets points to] a new international order [that] can save lives and stop currencies collapsing."--Anatole Kaletsky, The Times "[Beyond Mechanical Markets]'s criticisms are potent and its suggestions intriguing. It would be a pity if they were ignored by economists too busy working on their next theory of everything."--Keyur Patel, Financial World "The argument of this original and important book is that ... economic models still used by central banks and others are seriously misleading and basically useless in dealing with a real world in which individuals are making imperfect and unpredictable interpretations of economic events... The authors' practical recommendations for policy are interesting and they can hardly be accused of a lack of boldness."--Graham Bannock, Central Banking.com "In their provocative and fascinating new book ... Frydman and Goldberg's achievement ... as in their earlier work, is to enlarge the economist's toolkit and to show that there is something useful to be said about uncertainty after all."--Kevin D. Hoover, Journal of Economic MethodologyTable of Contents*FrontMatter, pg. i*Contents, pg. vii*Acknowledgments, pg. xiii*What Went Wrong and What We Can Do about It, pg. 1*1. The Invention of Mechanical Markets, pg. 21*2.The Folly of Fully Predetermined History, pg. 41*3. The Orwellian World of "Rational Expectations", pg. 55*4.The Figment of the "Rational Market", pg. 71*5. Castles in the Air: The Efficient Market Hypothesis, pg. 81*6.The Fable of Price Swings as Bubbles, pg. 103*7. Keynes and Fundamentals, pg. 117*8. Speculation and the Allocative Performance of Financial Markets, pg. 149*9. Fundamentals and Psychology in Price Swings, pg. 163*10. Bounded Instability: Linking Risk and Asset-Price Swings, pg. 175*11. Contingency and Markets, pg. 195*12. Restoring the Market-State Balance, pg. 217*Epilogue, pg. 249*References, pg. 257*Index, pg. 273
£27.00
Princeton University Press Solomons Knot
Book SynopsisDeveloping a new idea requires money, which poses a problem of trust. This title proposes a legal theory of economic growth that details how property, contract, and business laws help to unite capital and ideas. It demonstrates why ineffective private and business laws are the root cause of the poverty of nations in today's world.Trade Review"Cooter and Schafer apply insights from the field of law and economics to the problem of poverty. They describe how institutions like contracts overcome dilemmas of trust at the heart of economic transactions. Readers interested in understanding the law and economics approach would do well to start with this well-written volume, which develops a model of the legal institutions needed for innovation... [A] significant contribution to the field."--Choice "[C]ompelling."--Michael Strong, Barron's "Rich in institutional detail, wisdom and practical advice."--Alex Tabarrok, Marginal Revolution "The authors, Cooter and Schafer, skilfully avoid economics verbiage and complicated legal terms, providing instead a plethora of anecdotes, appropriate examples and studies."--Lisa Kaaki, Arab News "Solomon's Knot remains an entertaining and comprehensive read. It successfully conveys the main theories of law and economics within the context of promoting innovation as a source of sustained growth. Moreover, it proposes clear and simple policy recommendations for developing countries to adopt in pursuit of greater wealth creation and economic development."--Christel Y. Tham, Journal of International Law and PoliticsTable of ContentsPreface ix Acknowledgments xiii Chapter 1: It's about the Economy 1 Chapter 2: The Economic Future of the World 13 Chapter 3: The Double Trust Dilemma of Development 27 Chapter 4: Make or Take 39 Chapter 5: The Property Principle for Innovation 50 Chapter 6: Keeping What You Make--Property Law 64 Chapter 7: Doing What You Say--Contracts 82 Chapter 8: Giving Credit to Credit--Finance and Banking 101 Chapter 9: Financing Secrets--Corporations 123 Chapter 10: Hold or Fold--Financial Distress 142 Chapter 11: Termites in the Foundation--Corruption 159 Chapter 12:Poverty Is Dangerous--Accidents and Liability 179 Chapter 13: Academic Scribblers and Defunct Economists 193 Chapter 14: How the Many Overcome the Few 211 Chapter 15: Legalize Freedom--Conclusion 223 Notes 229 Bibliography 299 Index 313
£37.80
Princeton University Press Why Philanthropy Matters
Book SynopsisTrade ReviewFinalist for the 2014 George R. Terry Book Award, Academy of Management "In The Gospel of Wealth (1889), Andrew Carnegie urged his prosperous contemporaries to avoid 'hoarding great sums' and to give their 'surplus' wealth away during their lifetimes, to strengthen an economic system that might thereby produce some riches for all. In the more measured tones of an economist, Mr. Acs is making much the same point: A capitalist economy not only enables but requires philanthropy. Through it, entrepreneurs can support the kinds of institutions that generate discoveries and that provide pathways for other people to make their own fortunes."--Leslie Lenkowsky, Wall Street Journal "While philanthropy is generally seen as a positive practice, few view it as a sustaining capitalistic force that drives the economy. Acs seeks to change this in an informative and enlightening ... look at philanthropy's many positive repercussions... Economists will find this book helpful in crystallizing the long-term impact of philanthropy and the degree to which it influences the American economy."--Publishers Weekly "Acs' effort to link philanthropy to greater income equality, opportunity and security is admirable and potentially important."--Glenn C. Altschuler, Tulsa World "The best pro-philanthropy book I know."--Tyler Cowen, Marginal Revolution "Drawing on research conducted over 30-plus years, Acs's examination documents historically how philanthropy has affected and been affected by the entrepreneurial spirit unique to the American economic system... This is a worthwhile read for U.S. economists as well as those wishing to understand how American-style capitalism and philanthropy create innovation."--Elizabeth Nelson, Library Journal "Acs develops an interesting account of American economic history as he traces the activities of philanthropists across the decades."--Kirkus Reviews "Acs' major achievement here is to understand philanthropy's oft-neglected and uniquely American role in economic growth."--Evan Sparks, Philanthropy Magazine "[E]asily the best work on the subject I have read."--Luke Johnson, Financial Times "The book is fast paced and highly readable."--Kathi Coon Badertscher, Enterprise & Society "Acs offers a well-written, well-researched account of the evolution of American capitalism."--Choice "Why Philanthropy Matters is a useful book, appropriate to academics and an informed general readership as well as in undergraduate and graduate seminar-style classrooms (I myself am requiring it in a masters-level seminar this semester)... [I]t raises timely issues about the American economy, in particular the nexus of capitalism and philanthropy in America."--Gordon E. Shockley, Independent ReviewTable of ContentsPreface ix Chapter 1. A Conversation 1 Chapter 2. Creating Opportunity 19 Chapter 3. Entrepreneurship and Innovation 46 Chapter 4. The Wealth of Nations 86 Chapter 5. Charity and Philanthropy 121 Chapter 6. American-Style Capitalism 149 Chapter 7. The Global Perspective 176 Epilogue Changing the Tax Laws 200 Pledge Letters 205 Notes 227 Index 241
£34.20
Princeton University Press Peddling Protectionism
Book SynopsisThe Smoot-Hawley tariff of 1930, which raised US duties on hundreds of imported goods to record levels, is America's most infamous trade law. This title presents an account of the politics behind Smoot-Hawley, its economic consequences, the foreign reaction it provoked, and its aftermath and legacy.Trade Review"Peddling Protectionism admirably conveys the context of the events its describes, surveying America's domestic politics in the late 1920s and providing a vivid account of the foreign retaliation that the tariff called forth. Here is a model of economic tract. Lavishly illustrated with political cartoons, it contains but one algebraic equation, and that probably unavoidable."--James Grant, Wall Street Journal "In his new book, Douglas A. Irwin tells the fascinating story of how Congress stubbornly passed a bill that, as opponents noted at the time, was truly doomed to fail."--Roger Lowenstein, New Republic's The Book "[Irwin's] account of how the act came about is at once a thorough study and a breezy read. The often overblown rhetoric that Smoot-Hawley has inspired, seemingly from the start, also means that the book is often surprisingly amusing... Mr. Irwin's description of how an attempt to prop up America's agricultural sector metastasised into a law that raised nearly 1,000 import tariffs, mostly on manufacturing products, is fascinating."--Economist "Peddling Protectionism, by the economist and historian Douglas Irwin, is a vivid, anecdotal, judicious telling of timeless story: what happens when cocksure politicians fall into the grip of a really bad economic idea."--Christopher Caldwell, Financial Times "In Peddling Protectionism, a short, clear and graceful book, in which maps, photographs and cartoons complement the handful of tables and graphs, Irwin makes a surprisingly lively story of the tradition of tariff revisions in the United States, the domestic politics that produced the Smoot-Hawley statute, in particular the various retaliatory measures that ensued... [I]f only economists could write more books like it about other controversies!"--David Warsh, Economic Principals "In his wonderful new book Peddling Protectionism, Dartmouth College economist and historian Douglas A. Irwin warns that congress, left on its own to fashion trade policy, will quickly be captured by special interests."--Daniel Griswold, Washington Times "Irwin's encyclopedic knowledge of the literature on Smoot-Hawley will make this the standard work on the subject for many years to come... The memory of Smoot-Hawley and its link to the Great Depression is one of the few things that keeps protectionism in check. For this reason, Peddling Protectionism deserves a wide readership."--Fiscal Times "[P]ersuasive."--Arnold Kling, Econlog "The Smoot-Hawley Tariff Act of 1930, named after two congressmen who sponsored it, raised U.S. duties on thousands of imported goods. Its ramifications on world trade reverberated for decades. In this comprehensive history, Irwin examines the political wrangling that caused the yearlong delay in its passage."--Library Journal "A rarity among books of its ilk, Peddling Protectionism is a stellar read both as a historical narrative and an economic text. As mundane as the issues at hand might sound--think of Ben Stein's famous monotonic lecture about Smoot-Hawley in Ferris Bueller's Day Off--Irwin makes them comprehensible and even enjoyable to consider, peppering his text with anecdotes and contemporary political cartoons as he unpacks the economic context that led to the act's passage."--Asa Fitch, The National "Irwin's book is not technical; he summarizes research findings, including his own, but does not formally present models or econometric results. His approach makes the book quite suitable for the interested general reader, undergraduates, and economic historians and other economists interested in the life and times of Smoot-Hawley. Finally, this volume is well priced for individual purchase and is nicely illustrated with a number of photographs and political cartoons of the day. It is also mercifully free of the typos that plague so many university press books these days."--Anthony Patrick O'Brien, EH.Net "Irwin, an economics professor at Dartmouth College and one of the world's leading scholars of international trade, makes a careful, fact-freighted case."--David R. Henderson, Regulation "Irwin's outstanding book will teach even well-informed scholars a great deal about the history and politics that produced the Smoot-Hawley tariff as well as about its economic and political consequences. Read Irwin's book for the important details... No better guide to Smoot-Hawley's history and consequences is available than Doug Irwin. His scholarship is impeccable; his reasoning is sure and never overreaching; and his prose is clean and direct. His little volume may not be the last word on Smoot-Hawley (Are there ever last words on any subject?), but it is to date the finest set of words devoted exclusively to that justly infamous spectacle of American protectionism."--Donald J. Boudreaux, Independent Review "[I]rwin's recent book Peddling Protectionism demolishes the conventional wisdom [of the Smoot-Hawley tariff]."--Robert J. Samuelson, Wilson Quarterly "[Irwin's book is] eminently readable, and will be of interest to all those concerned with trade policy and the trading system, as well as being valuable for upper division undergraduate seminars. The particulars of the political arguments for and against SH, the quotes of opinions of policy makers, and the marshalling of evidence regarding policy choices and attempts at international cooperation make the period come alive and simultaneously enable a balanced assessment regarding the role of trade policy and its determinants."--Anne O. Krueger, Journal of World Trade Review "[T]his book is a welcome contribution to the field. Several of the old 'wisdoms' regarding the tariff are presented and analysed, and the empirical evidence brought forth by Irwin is convincing. The course of events is concisely presented in a chronological manner. Irwin has collected quite a number of political cartoons, caricatures and quotations to illustrate the debate of contemporaries and scholars that both entertain and point to the gravity of the issue. All this adds nicely to the economic analyses. The lines of arguments and the analyses of the author in the book are convincing and accessible to both scholars and the general reader."--Peter Hedberg, Scandinavian Economic History Review "It is, to put it mildly, a challenge to write an interesting and lively history of tariff policy. In his graceful study of the Smoot-Hawley tariff, economist Douglas Irwin successfully rises to the task... Scholars of the period will find much that is valuable in Irwin's analytical and readable narrative."--Jason Scott Smith, Journal of American StudiesTable of ContentsIntroduction 1 Chapter 1: Domestic Politics 11 Chapter 2: Economic Consequences 101 Chapter 3: Foreign Retaliation 144 Chapter 4: Aftermath and Legacy 184 Appendix: The Economists' Statement against the Smoot-Hawley Tariff 222 Acknowledgments 227 References 229 Index 239
£34.20
Princeton University Press Guaranteed to Fail
Book SynopsisExplains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides practical recommendations. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie.Trade Review"[Guaranteed to Fail] is more multi-dimensional and nuanced than most other books on the bloody crossroads where real estate and banking meet... [The] authors show convincingly that the GSEs' subprime lending was not a noble idea that eventually went wrong or drifted into excesses--it was a fool's errand from the beginning."--Financial Times "[A] valuable book on how two quasi-public companies became 'the world's largest and most leveraged hedge fund'... A balanced study, [Guaranteed to Fail] rises above a clash between partisans on the right--who call the companies 'ground zero' in the meltdown--and those on the left who blame deregulation and Wall Street excess... Part primer, part policy prescription, the text explains in simple language what these entities are, how they got so big, and why we must fix them."--James Pressley, Bloomberg News "In Guaranteed to Fail, a quartet of New York University professors from its Stern School of Business, focus on the 'debacle of mortgage finance' that Fannie and Freddie helped create, and offer a plan for reform. In clear language, and with plenty of data to support their arguments, the authors provide a concise but comprehensive history of the GSEs--which alone makes their book worth reading."--Barron's "Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance, stands out among all the others... [I]t is one of the very few books to focus squarely on the ultimate cause of the crisis: US government housing policy and the role of the two government-backed mortgage giants Freddie Mac and Fannie Mae in giving effect to that policy."--Stephen Kirchner, The Conversation (Australia) "[T]hought-provoking."--Gillian Tett, Financial Times "[T]he authors provide a detailed template for reform."--The Economist "No one can accuse the authors of failing to offer solutions to the problems they so thoroughly document... One can only hope that some trace of the constructive approach of Guaranteed to Fail will inform the ongoing debate in Washington on the vitally important question of the future structure of the U.S. mortgage market."--Martin S. Fridson, Financial Analyst Journal "This book should, without question, play an important role in the policy discussion of how to reform the mortgage market. Its accessible explanation of the GSEs' growth and behavior, and its detail and care in suggesting the direction for housing finance to go--and how to get it there--are its strengths. In terms of audience, the book seems more oriented toward policy discussions than academic ones... As a whole, it provides a useful overview of the rise and fall of the GSEs, and is a worthwhile read for those interested in understanding the recent crisis."--Daniel K. Fetter, Journal of Economic Literature "[T]he scholarly NYU tome focuses on policy mistakes and perverse incentives... The Stern School economists [highlight the] 'race to the bottom' among mortgage lenders ... [who] responded by 'moving down the credit curve of increasingly shaky mortgage loans.' ... Bad lending begat worse lending."--Robert J. Samuelson, Claremont Review of Books "They combine in an ideal way research and political consulting, resulting in an easy-to-read book that nevertheless has the necessary in-depth analysis. The book is rich with quotes from the past suggesting that everybody should have seen the imminent disaster."--Rico von Wyss, Financial Markets and Portfolio Management "Guaranteed to Fail is one of the more comprehensive and informative books on the financial crisis. In addition to its relevance to the policy debate on homeownership and government guarantees, the book has numerous pedagogical strengths. Each chapter is well-organized, contains numerous charts and graphs, and has incredible detail regarding legislation, announcements, and media reports that impacted the housing market since the 1930s. The appendix, with a timeline of US housing finance milestones and a 32-page blueprint for reform, highlight the great effort that went into the creation of this work."--Cynthia Bansak and Peter Carpenter, Eastern Economic Journal "The [authors] combine in an ideal way research and political consulting, resulting in an easy-to-read book that nevertheless has the necessary in-depth analysis. The book is rich with quotes from the past suggesting that everybody should have seen the imminent disaster."--Rico von Wyss, Swiss Society for Financial Market ResearchTable of ContentsAcknowledgments ix Prologue 1 CHAPTER ONE: Feeding the Beast 11 CHAPTER TWO: Ticking Time Bomb 31 CHAPTER THREE: Race to the Bottom 41 CHAPTER FOUR: Too Big to Fail 61 CHAPTER FIVE: End of Days 80 CHAPTER SIX: In Bed with the Fed 99 CHAPTER SEVEN: How Others Do It 115 CHAPTER EIGHT: How to Reform a Broken System 132 CHAPTER NINE: Chasing the Dragon 165 EPILOGUE 178 Appendix: Timeline of U.S. Housing Finance Milestones 183 Notes 187 Glossary 207 Index 211
£18.00
Princeton University Press Fault Lines
Book SynopsisThe author was one of the few economists who warned of the global financial crisis before it hit. In this book, he argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed. It outlines the hard choices we need to make to ensure a more stable world economy.Trade Review* Raghuram G. Rajan, Winner of the 2013 Deutsche Bank Prize in Financial Economics, The Center for Financial Studies * Winner of the 2010 Business Book of the Year Award, Financial Times and Goldman Sachs * Winner of the 2011 Gold Medal in Finance/Investment/Economics, Independent Publisher Book Awards * Winner of the 2010 PROSE Award in Economics, American Publishers Awards* Winner of the 2010 Gold Medal Book of the Year Award in Business & Economics, ForeWord Reviews * Finalist for the 2010 Paul A. Samuelson Award, TIAA-CREF * Finalist for the 2010 Book of the Year Award in Business and Economics, ForeWord Reviews * One of strategy+business magazine's Best Business Books of the Year for 2010 * Best Crisis Book by an Economist and Named one of Bloomberg News's Thirty Business Books of the Year for 2010 * Finalist for the 2011 Estoril Global Issues Distinguished Book Prize* One of Financial Times's Books of the Year in Business & Economics, Nonfiction Round-Up for 2010 "Fault Lines is a must-read."--Nouriel Roubini, Forbes.com "[E]xcellent... [Fault Lines] deserve[s] to be widely read in a time when the tendency to blame everything on catch-all terms like 'globalisation' is gaining ground."--Economist "Like geological fault lines, the fissures in the world economic system are more hidden and widespread than many realize, he says. And they are potentially more destructive than other, more obvious culprits, like greedy bankers, sleepy regulators and irresponsible borrowers. Mr. Rajan ... argues that the actions of these players (and others) unfolded on a larger world stage, that was (and is) subject to the imperatives of political economies... [A] serious and thoughtful book."--New York Times "A thought-provoking new book... [Rajan's] voice is worth listening to."--Martin Wolf, Financial Times "The book, published by Princeton University Press, saw off stiff competition from five others on the shortlist, to be chosen as 'the most compelling and enjoyable' business title of 2010. The final intense debate among the seven judges came down to a choice between Fault Lines and Too Big to Fail, Andrew Ross Sorkin's acclaimed minute-by-minute analysis of the collapse of Lehman Brothers. The book identifies the flaws that helped cripple the world financial system, prescribes potential remedies, but also warns that unless policymakers push through painful reforms, the world could be plunged into renewed turmoil."--Financial Times "Rajan is worth reading not just because he was correct when few were but also because his writing is clear as a bell, even to nonspecialists."--Christopher Caldwell, Weekly Standard "The left has figured out who to blame for the financial crisis: Greedy Wall Street bankers, especially at Goldman Sachs. The right has figured it out, too: It was government's fault, especially Fannie Mae and Freddie Mac. Raghuram Rajan of the University of Chicago's Booth School of Business says it's more complicated: Fault lines along the tectonic plates of the global economy pushed big government and big finance to a financial earthquake. To him, this was a Greek tragedy in which traders and bankers, congressmen and subprime borrowers all played their parts until the drama reached the inevitably painful end. (Mr. Rajan plays Cassandra, of course.) But just when you're about to cast him as a University of Chicago free-market stereotype, he surprises by identifying the widening gap between rich and poor as a big cause of the calamity."--David Wessel, Wall Street Journal "In a new book ... entitled Fault Lines, Rajan argues that the initial causes of the breakdown were stagnant wages and rising inequality. With the purchasing power of many middle-class households lagging behind the cost of living, there was an urgent demand for credit. The financial industry, with encouragement from the government, responded by supplying home-equity loans, subprime mortgages, and auto loans... The side effects of unrestrained credit growth turned out to be devastating--a possibility most economists had failed to consider."--John Cassidy, New Yorker "[C]onvincing."--Christopher Caldwell, New York Times Magazine "What if the financial crash of 2008 was really caused by income inequality? Not greedy bankers, not reckless homeowners, but the ever widening-gulf between the rich and the poor? And what if the lack of social services--like health care--made things much, much worse? This is the startling new theory from Raghuram Rajan... [Fault Lines is] especially fascinating because it mixes free-market Chicago School economics with good-government ideas straight out of Obamaland."--John Richardson, Esquire.com "A high-powered yet accessible analysis of the financial crisis and its aftermath, Fault Lines was awarded the FT/Goldman Sachs Business Book of the Year. Rajan ... was one of the few who warned that the crisis was coming and his book fizzes with striking and thought-provoking ideas."--Financial Times (FT Critics Pick 2010) "What caused the crisis? ... There is an embarrassment of causes--especially embarrassing when you recall how few people saw where they might lead. Raghuram Rajan ... was one of the few to sound an alarm before 2007. That gives his novel and sometimes surprising thesis added authority. He argues in his excellent new book that the roots of the calamity go wider and deeper still."--Clive Crook, Financial Times "Few people were able to foresee the recent economic downturn. Raghuram Rajan ... was one of them. This makes his new book, Fault Lines, worthy of consideration amidst the rampant speculation about the causes of the financial crisis... Fault Lines is valuable primarily for its clear explanation of unintended economic consequences from well-meaning government intervention."--Washington Times "Rajan's writing is clear and direct."--James Pressley, Bloomberg News "Former IMF chief economist Raghuram G. Rajan ... in his new book, Fault Lines, brings together and explains the diverse failings that contributed to the crisis--the fault lines, as he puts it, that were exposed by the events of the past several years. Rajan then puts forward broad policy recommendations to ward off a future problem... Rajan's book takes a comprehensive look at what got us into the crisis and offers an intriguing approach to avoiding another one."--Phillip Swagel, Finance & Development "I devoured Raghuram Rajan's Fault Lines: How Hidden Fractures Still Threaten the World Economy in a very short span of time last night. It's brief, well-written, and extremely interesting. I would definitely recommend adding it to your financial crisis reading list."--Matthew Yglesias, Yglesias blog "The proposed global reforms that [Rajan] lists in Fault Lines run the gamut from the prosaic to grandiose. Along with revamping Wall Street's pay system, he offers innovative ideas on building capital buffers into the global credit system, obviating much of the need for bailouts of companies deemed too big or too enmeshed in the financial system to fail."--Barron's "Economists who can challenge their peers while remaining accessible to the general reader are rare, but Rajan belongs to this elite group. No short summary can do justice to this well-written, insightful, and nuanced study."--Choice "In 2007, then-chief IMF economist Raghuram G. Rajan delivered a stark warning to the world's top bankers: financial markets were headed for doom. They laughed it off. In the wake of the collapse that followed, Rajan has written a new book, Fault Lines: How Hidden Fractures Still Threaten the World Economy, that warns the system is doomed to repeat its mistakes. Like many defenders of the market, Rajan urges us not to demonize the bankers. But it's this fiscal conservative's focus on inequality that makes him stand out from the pack. The growing wage gap, he argues, is a hidden driver of financial instability, putting constant pressure on politicians to enact short-term fixes."--Toronto Star "The critics are wrong: Raghuram Rajan's analysis of the global financial crisis remains highly relevant and deserves to be widely read... The breadth of Rajan's explanatory framework--which is presented cogently and concisely within 230 pages of text--marks this book apart from many others that tackle the same themes."--Mark Hannam, Prospect "Dozens of experts have explored the reasons behind the ongoing global economic turmoil, and Raghuram Rajan provides his own elegant and thoughtful analysis in Fault Lines."--BizEd "With Fault Lines, Rajan has made an original diagnosis of the credit crisis, one that goes much further than those of greedy bankers or wasteful mortgage giants such as Fannie Mae and Freddie Mac."--Christophe De Rijcke, De Tijd (translated from the Dutch by K.C.L.) "A book that should be the default choice of discerning finance professionals when they enter the store the next time."--D. Murali, Business Line "Rajan's Fault Lines is ... expansive and policy-focused and clearly destined to become a must-read on any list of books on the recent global crisis."--Jahangir Aziz, Business Standard "Insightful, educative and incredibly gripping, if you want just one book to understand the ongoing global financial crisis and the way forward, Fault Lines it is."--Gautam Chikermane, Hindustan Times "Best Crisis Book by an Economist (2010)."--James Pressley, Bloomberg News "Fault Lines has a strong claim to be the economics book that best caught the spirit of 2010. Raghuram Rajan's receipt of the Financial Times and Goldman Sachs annual business book award only confirmed his book's widespread popularity. It is not hard to see why so many people liked it. Fault Lines eschews hyperbole for a lucid and balanced account of the crisis."--Fund Strategy "Rajan ... comes up with original and important long-term remedies... Rajan's book is a bold enterprise in three ways: firstly it aims to explain the US financial crisis by looking at deep, decade-long fractures in economies and societies; secondly it suggests well-known but radical solutions that few dare put forward; and finally it supplies innovative answers to practical questions... [T]he book will please any reader looking for an inquiry into the deepest causes of the recession and a consistent account of government's errors of omission and commission."--Natacha Postel-Vinay, British Politics and Policy "In a well-written, well-organized study, he focuses on ten of the most important issues bedeviling a still shaky world economy. Neither too technical for laymen nor too glib for specialists, the book ought to be a significant contribution to policy-makers' discussions of where we go now."--Joel Campbell, International Affairs "Just when you thought you had heard it all and that there is not much more that we can learn from the recent financial crises, here comes a brand-new assessment from another angle... Written with clarity and persuasion."--Good Book Guide "[T]his book is a must read for analysts, academics, politicians, economists, and the like."--Emilia Garcia-Appendini, Financial Markets and Portfolio ManagementTable of ContentsAcknowledgments ix Introduction 1 Chapter One: Let Them Eat Credit 21 Chapter Two: Exporting to Grow 46 Chapter Three: Flighty Foreign Financing 68 Chapter Four: A Weak Safety Net 83 Chapter Five: From Bubble to Bubble 101 Chapter Six: When Money Is the Measure of All Worth 120 Chapter Seven: Betting the Bank 134 Chapter Eight: Reforming Finance 154 Chapter Nine: Improving Access to Opportunity in America 183 Chapter Ten: The Fable of the Bees Replayed 202 Epilogue 225 Afterword to the Paperback Edition 231 Notes 241 Index 257
£14.24
Princeton University Press Pillars of Prosperity
Book SynopsisTo achieve peace, the authors stress the avoidance of repressive government and civil conflict. They show that countries tend to enjoy all three pillars of prosperity when they have evolved cohesive political institutions that promote common interests, guaranteeing the provision of public goods.Trade ReviewHonorable Mention for the 2011 PROSE Award in Economics,s, Association of American Publishers "This is a fascinating set of questions, and Pillars of Prosperity will be essential reading for other researchers in this area."--Diane Coyle, Enlightened Economist "Besley and Persson have written a book that seeks to bring weak and fragile states into mainstream economic analysis... [I]f you wish to model the fiscal capacity of various nations, or their legal capacity, or political violence ... this is an ideal place to start... This is a marvelous book."--Daniel Bromley, American Journal of Agricultural EconomicsTable of ContentsSeries Foreword ix Preface xi CHAPTER 1: Development Clusters 1 1.1 Salient Correlations 6 1.2 The Main Questions 10 1.3 Fiscal Capacity 11 1.4 Legal Capacity 14 1.5 Political Violence 22 1.6 State Spaces 27 1.7 Development Assistance 31 1.8 Political Reform 32 1.9 Main Themes 34 1.10 Final Remarks 37 1.11 Notes on the Literature 38 CHAPTER 2: Fiscal Capacity 40 2.1 The Core Model 45 2.1.1 Basic Structure 46 2.1.2 Politically Optimal Policy 50 2.1.3 Fiscal-Capacity Investments 52 2.1.4 Normative Benchmark: A Pigouvian Planner 54 2.1.5 Three Types of States 56 2.1.6 Taking Stock 63 2.2 Developing the Model 64 2.2.1 Microfoundations for Fiscal Capacity 64 2.2.2 More General Models for Public Goods 67 2.2.3 Polarization/Heterogeneity 70 2.2.4 Income Inequality 73 2.2.5 Differences in Group Size 78 2.2.6 Tax Distortions 79 2.2.7 From Trade to Income Taxes 83 2.2.8 An Infinite-Horizon Model 86 2.3 Empirical Implications and Data 91 2.4 Final Remarks 99 2.5 Notes on the Literature 99 CHAPTER 3: Legal Capacity 103 3.1 The Core Model with Legal Capacity 108 3.1.1 Politically Optimal Policy 109 3.1.2 Investments in State Capacity 110 3.1.3 Comparative Statics 113 3.1.4 Taking Stock 117 3.2 Developing the Model 118 3.2.1 Microeconomic Foundations 118 3.2.2 The Genius of Taxation 131 3.2.3 Private Capital Accumulation 138 3.2.4 Predation and Corruption 144 3.3 Empirical Implications and Data 156 3.4 Final Comments 164 3.5 Notes on the Literature 165 CHAPTER 4: Political Violence 169 4.1 The Core Model with Political Violence 175 4.1.1 Model Modifications 175 4.1.2 Policy 177 4.1.3 Investments in Political Violence 179 4.1.4 Empirical Implications 185 4.2 Developing the Model 189 4.2.1 Asymmetries 189 4.2.2 Polarization, Greed, and Grievance 190 4.2.3 Anarchy 191 4.2.4 Conflict in a Predatory State 192 4.2.5 Investing in Coercive Capacity 193 4.3 From Theory to Empirical Testing 194 4.4 Data and Results 198 4.4.1 Data 198 4.4.2 Cross-Sectional Correlations 201 4.4.3 Econometric Estimates 202 4.5 Final Remarks 211 4.6 Notes on the Literature 213 CHAPTER 5: State Spaces 215 5.1 State Capacity in the Comprehensive Core Model 216 5.1.1 Equilibrium Political Turnover 216 5.1.2 Investments in State Capacity Revisited 219 5.2 Developing the Model 223 5.3 Empirical Implications 227 5.4 Putting the Pieces Together 231 5.5 Final Remarks 234 5.6 Notes on the Literature 235 CHAPTER 6: Development Assistance 237 6.1 The Core Model with Aid 242 6.1.1 Cash Aid 243 6.1.2 Technical Assistance 250 6.1.3 Military Assistance 253 6.1.4 Postconflict Assistance 254 6.2 Final Remarks 256 6.3 Notes on the Literature 257 CHAPTER 7: Political Reform 259 7.1 The Core Model and Political Reform 264 7.1.1 Political Reform under a Veil of Ignorance 265 7.1.2 Strategic Political Reform 267 7.2 Developing the Model 271 7.2.1 Micropolitical Foundations for ? 271 7.2.2 Micropolitical Foundations for ? 275 7.2.3 Constitutional Rules 280 7.2.4 Political Violence 282 7.2.5 Trust 287 7.2.6 Governance 290 7.3 Political Reform in Practice 293 7.4 Final Remarks 298 7.5 Notes on the Literature 299 CHAPTER 8: Lessons Learned 302 8.1 What We Have Learned 303 8.1.1 Answers to the Three Main Questions 303 8.1.2 Our Analysis and Traditional Development Research 307 8.2 The Pillars of Prosperity Index 310 8.2.1 Defining the Index 310 8.2.2 Predicting the Index 319 8.3 Where Next? 325 8.4 Concluding Remarks 332 References 333 Name Index 357 Subject Index 363
£68.00
Princeton University Press Solomons Knot How Law Can End the Poverty of
Book SynopsisSustained growth depends on innovation, whether it's cutting-edge software from Silicon Valley, an improved assembly line in Sichuan, or a new export market for Swaziland's leather. This title proposes a legal theory of economic growth that details how effective property, contract, and business laws help to unite capital and ideas.Trade Review"Cooter and Schafer apply insights from the field of law and economics to the problem of poverty. They describe how institutions like contracts overcome dilemmas of trust at the heart of economic transactions. Readers interested in understanding the law and economics approach would do well to start with this well-written volume, which develops a model of the legal institutions needed for innovation... [A] significant contribution to the field."--Choice "[C]ompelling."--Michael Strong, Barron's "Rich in institutional detail, wisdom and practical advice."--Alex Tabarrok, Marginal Revolution "The authors, Cooter and Schafer, skilfully avoid economics verbiage and complicated legal terms, providing instead a plethora of anecdotes, appropriate examples and studies."--Lisa Kaaki, Arab News "Solomon's Knot remains an entertaining and comprehensive read. It successfully conveys the main theories of law and economics within the context of promoting innovation as a source of sustained growth. Moreover, it proposes clear and simple policy recommendations for developing countries to adopt in pursuit of greater wealth creation and economic development."--Christel Y. Tham, Journal of International Law and PoliticsTable of ContentsPreface ix Acknowledgments xiii Chapter 1: It's about the Economy 1 Chapter 2: The Economic Future of the World 13 Chapter 3: The Double Trust Dilemma of Development 27 Chapter 4: Make or Take 39 Chapter 5: The Property Principle for Innovation 50 Chapter 6: Keeping What You Make--Property Law 64 Chapter 7: Doing What You Say--Contracts 82 Chapter 8: Giving Credit to Credit--Finance and Banking 101 Chapter 9: Financing Secrets--Corporations 123 Chapter 10: Hold or Fold--Financial Distress 142 Chapter 11: Termites in the Foundation--Corruption 159 Chapter 12:Poverty Is Dangerous--Accidents and Liability 179 Chapter 13: Academic Scribblers and Defunct Economists 193 Chapter 14: How the Many Overcome the Few 211 Chapter 15: Legalize Freedom--Conclusion 223 Notes 229 Bibliography 299 Index 313
£20.90
Princeton University Press The National Origins of Policy Ideas
Book SynopsisProvides the comparative analysis of how "knowledge regimes" - communities of policy research organizations like think tanks, political party foundations, ad hoc commissions, and state research offices, and the institutions that govern them - generate ideas and communicate them to policymakers.Trade Review"The historical and comparative analytical approach, further strengthened by elite interviews and archival research, reveals the following country-specific characteristics of knowledge regimes: heterogeneity of ideas, self-critical attitude, comparatively uniform and analytical sophistication, and a nonideological and inclusive approach."--Choice "The book is an important contribution that opens up new ways of thinking about the production of policy ideas as well as analytical strategies for systematic empirical research... The National Origins of Policy Ideas brings our understanding of knowledge regimes to a new level."--Daniel Nohrstedt, Public AdministrationTable of ContentsList of Tables and Figures ix List of Acronyms xi Preface xvii Chapter 1: Knowledge Regimes and the National Origins of Policy Ideas 1 Part I: The Political Economy of Knowledge Regimes 37 Chapter 2: The Paradox of Partisanship in the United States 39 Chapter 3: The Decline of Dirigisme in France 84 Chapter 4: Coordination and Compromise in Germany 129 Chapter 5: The Nature of Negotiation in Denmark 172 Reprise: Initial Reflections on the National Cases 215 Part II: Issues of Similarity and Impact 231 Chapter 6: Limits of Convergence 233 Chapter 7: Questions of Influence 276 Part III: Conclusions 323 Chapter 8: Summing Up and Normative Implications 325 Postscript: An Agenda for Future Research 332 Appendix: Research Design and Methods 343 References 357 Index 375
£27.00
Princeton University Press The Paradox of Vulnerability
Book SynopsisTrade Review"There is much to reflect on in this book. . . . [It] is a small, but a useful, addition to the stock of knowledge around what we must hope will be the defining financial crisis of this century."---Michael Reddell, Central Banking Journal
£27.00
Princeton University Press Political Bubbles Financial Crises and the
Book SynopsisBehind every financial crisis lurks a "political bubble"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped creatTrade Review"As pundits debate the causes of the 2008 economic crisis, the authors contend that financial crises have inherently political dimensions. McCarty, Poole, and Rosenthal argue persuasively that political bubbles and market bubbles are highly similar, with policy biases contributing to and amplifying market behavior... The authors provide an exhaustive review of structural problems that they believe impede effective government response to new catastrophic economic developments. Their arguments transcend the academic to include historical precedents and specifics on Wall Street machinations."--Publishers Weekly "McCarty, Poole, and Rosenthal have crafted a masterful analysis of the 2008 financial crisis. Their central thesis is that the underlying cause of the Great Recession was the 'political bubble'... The warnings for the U.S. political system are dire, and the authors make the case for political courage in dealing with wealth inequalities. This book would be an excellent addition to the library of any student of political economy and an excellent start in generating policy proposals on how to deal with future crises."--Choice "Greatly expanding upon and enriching prior work on political polarization, Political Bubbles persuasively shows that the 2008 financial crisis was the product of potent political forces."--Philip Rocco, Public AdministrationTable of ContentsAcknowledgments vii Introduction 1 Part I: The Political Bubble - Why Washington Allows Financial Crises to Occur Chapter 1 Bubble Expectations 31 Chapter 2 Ideology 38 Chapter 3 Interests 71 Chapter 4 Institutions 90 Chapter 5 The Political Bubble of the Crisis of 2008 117 Part II: Pops - Why Washington Delays in Solving Financial Crises Chapter 6 Historical Lessons of the Responses to Pops 153 Chapter 7 The Pop of 2008 184 Chapter 8 "Pop"ulism 228 Chapter 9 How to Waste a Crisis 251 Epilogue 275 Notes 283 Bibliography 305 Name Index 327 Subject Index 333
£22.50
Princeton University Press The Nobel Factor The Prize in Economics Social
Book SynopsisTrade ReviewSelected for Canada's Financial Post Best Personal Finance and Economics Books of 2016 Selected for Bloomberg View's "The Writing that Shaped Economic Thinking in 2016" "Fascinating."--Justin Fox, Bloomberg View "As intellectual, social, and political history, The Nobel Factor is well worth your time getting stuck into."--Stephen Kinsella, Irish Economy "This book is hugely persuasive about economics, where the knowledge displayed is extraordinary and the judgments highly persuasive."--Jim Tomlinson, Long Run, EHS blog "There is much to be commended in The Nobel Factor. The close attention to the history of the Prize in Economics, the careful collection--and correlation--of data on the winners with broader intellectual and political trends makes the book a valuable guide."--Siddharth Singh, Open Magazine "Authors Avner Offer and Gabriel Soderberg ... trace the powerful effects of the [Nobel] prize."--Andrew Allentuck, Financial Post "Through thorough research of the publicly available archives and interviews with participants in the award process, the authors show both ideological and scientific criteria have operated, and, while science ended up lending a hand to ideology, it also sowed the seeds for dissent; scientific criteria drove the prize committee 'into a refutation of scientific economics.'"--Choice "Offer and Soderberg's story of the origins, recipients and impact of the Nobel Prize in Economics is intellectual history at its best... The failure of neoliberal economics to predict devastating debt crises and stem destabilising poverty suggests that economics is due for a return to the workbench. This book makes an important contribution to such a rethink."--E. Stina Lyon, Times Higher Education "Well-informed, trenchant."--Foreign Affairs "An important book. It will prove fascinating for all economics junkies, plus those interested in any and all Nobel Prizes."--Walter Block, San Francisco Book Review "[An] excellent book."--Peter Radford, Real-World Economics Review blogTable of ContentsList of Figures and Table viii List of Abbreviations xi List of Nobel Prize Winners in Economics, 1969-2015 xiii Preface and Acknowledgments xv Introduction 1 1 Imaginary Machines 16 2 A Prize in 'Economic Sciences' 42 3 Bitter Roots: Finance and Social Democracy between the Wars 68 4 The Riksbank Endows a Nobel Prize 89 5 Does Economics Have a Political Bias? 107 6 Individual Reputations (with Samuel Bjork) 125 7 Nobel Economics and Social Democracy 149 8 Models into Policy: Assar Lindbeck and Swedish Social Democracy 174 9 Swedosclerosis or Pseudosclerosis? Sweden in the 1980s 198 10 The Real Crisis: Not Work Incentives but Runaway Credit 220 11 Beyond Scandinavia: Washington Consensus to Market Corruption 230 Conclusion: Like Physics or Like Literature? 259 Bibliography 279 Index 309
£28.50
Princeton University Press On Inequality
Book SynopsisEconomic inequality is one of the most divisive issues of our time. Yet few would argue that inequality is a greater evil than poverty. The poor suffer because they don't have enough, not because others have more, and some have far too much. So why do many people appear to be more distressed by the rich than by the poor? In this provocative book,Trade ReviewHarry G. Frankfurt, 2017 Charles Homer Haskins Prize Lecturer, American Council of Learned Societies One of Choice's Outstanding Academic Titles for 2016 "Frankfurt has issued a clear challenge to the champions of equality."--Julian Baggini, Financial Times "Sen. Bernie Sanders (I-Vt.) is doing well, if not good, by reducing the debate about equality to resentment of large fortunes. He should read Harry G. Frankfurt's new book On Inequality. It is so short (89 pages) that even a peripatetic candidate can read it, and so lucid that he cannot miss its inconvenient point."--George Will "The volume should be required reading for candidates of both parties."--Stephen L. Carter, NY Post "With this book, as in his past work, Frankfurt has shown why it is so important to question common terms that are too often used reflexively. Regardless of one's own views on the past, present, and future of inequality, On Inequality is a salutary effort to help readers pause and think about the beliefs that motivate our rhetoric."--EF, Econ Focus "On Inequality may unsettle those fuzzy-minded liberals who know they are committed to a more equal society but are not sure why. Given Frankfurt's convincing proof that bourgeois, academic ethics cannot sustain a critique of inequality, these liberals may find themselves turning to intellectual traditions that offer a more radical, systemic critique."--Los Angeles Review of Books "The best discussion of the moral aspects of income inequality that I have read recently."--New Boston Post "Harry Frankfurt has once again shown himself to be a sensitive, humane and highly original philosopher. Anyone who is disturbed by the rise of inequality should grapple with what he has to say about why it is troubling. They will learn a great deal by doing so even if, in the end, they do not find his arguments persuasive."--Paul Weithman, Notre Dame Philosophical Reviews "In an accessible, informal tone, this book explains essential techniques that students, postdoctoral researches, and early career scientists need to write more clearly, efficiently, and easily."--Lunar and Planetary Information BulletinTable of ContentsPreface ix 1 Economic Equality as a Moral Ideal 1 2 Equality and Respect 63 Acknowledgments 91 Notes 93
£13.29
Princeton University Press Currency Power
Book SynopsisMonetary rivalry is a fact of life in the world economy. Intense competition between international currencies like the US dollar, Europe's euro, and the Chinese yuan is profoundly political, going to the heart of the global balance of power. But what exactly is the relationship between currency and power, and what does it portend for the geopoliticTrade Review"The ideas are clearly explained and speak directly to a broad spectrum of the existing international political economy literature."--Choice "This analytic complexity makes Currency Power an important contribution to our understanding of financial statecraft. This is not only the first comprehensive treatment of currency power, it is likely to remain the best such treatment for years to come. As such, the book is necessary reading for everyone interested in whether the dollar will remain at the top of the global currency pyramid as well as why retaining that status matters."--Thomas Oatley, Cambridge Review of International AffairsTable of ContentsList of Tables and Figures ix Acknowledgments xi Abbreviations and Acronyms xiii Introduction 1 1 International Currency 8 2 Power Analysis 28 3 Monetary Power 48 4 From Currency to Power 77 5 From Power to Currency 102 6 Currency Competition Today (with Tabitha M. Benney) 135 7 The Dollar: Power Undiminished 160 8 The Euro: Power Unrealized 185 9 The Yuan: Power Unstoppable? 214 10 Summing Up 237 Notes 245 References 257 Index 275
£29.75
Princeton University Press Genes Trade and Regulation The Seeds of Conflict
Book SynopsisTrade ReviewWinner of the 2005 Don K. Price Award, Science, Technology, and Environmental Politics Section of the American Political Science Association "[An] important and definitive book on agricultural biotechnology and the deepening trade dispute between the United States and the European Union... Bernauer has done a first-rate job of exploring this contentious trade issue in an understandable way."--Dennis Pirages, Perspectives in Political Science "Bernauer's book is the best single reference currently available treating the regulatory struggle surrounding GE (genetically engineered) foods and food crops... Bernauer does not just skim the surface; with remarkable stamina and a sure analytical touch he lays the details of each issue carefully and thoroughly before readers. At a moment when polemics dominate most discussions of GE food policy, the Bernauer volume has arrived just in time."--Robert Paarlberg, Quarterly Review of BiologyTable of ContentsPreface vii Chapter One: Introduction and Summary 1 Chapter Two: Challenges 22 Chapter Three: Polarization 44 Chapter Four: Interest Group Politics 66 Chapter Five: Regulatory Federalism 102 Chapter Six: International Trade Conflict 118 Chapter Seven: Coping with Diversity 168 Notes 185 References 213 Index 225
£19.00
Princeton University Press Paying the Tab The Costs and Benefits of Alcohol
Book SynopsisTrade Review"A wonderful little book... Draws on history, political philosophy and straight economics to point out that higher alcohol taxes would fit squarely in the American tradition."--David Leonhardt, New York Times "As laws against smoking and drugs become more draconian, the relative regulatory neglect of alcohol remains a mystery. Much of this mystery--at least in the US context--has recently been dispelled in Paying the Tab, a gem of social science by the Duke University economist Philip Cook... Mr. Cook's original and very literary book shows how certain principles of markets and regulation break down when a cherished commodity happens to be a mind-altering (and judgment-impairing) drug."--Christopher Caldwell, Financial Times "As one of the nation's leading public policy scholars, Cook brings his substantial background in applied economics research to bear on the topic of alcohol policy. In the process, he presents a first-rate example of how to approach a controversial social issue using economic reasoning. Ultimately arguing in favor of enhanced control (but far short of prohibition) to reduce the incidence of drinking, Cook does not reach this conclusion casually. Instead, he considers a full range of costs and benefits of alcohol control policy, including the enjoyment moderate drinking brings to many people...Cook provides the reader with an accessible, up-to-date treatise that is essential reading for anyone interested in social policy relating to alcohol control. Paying the Tab should be on every public policy professor's reading list."--H. Winter, Choice "In his book Paying the Tab, Philip Cook presents a comprehensive in-depth analysis of this complex policy issue. The book includes a review of the history of alcohol control in the United States, determines the evidence of its effectiveness, and provides an assessment of the proven policy options intended to curb alcohol use. I highly recommend this book to anyone who seeks to understand the effect of alcohol control policies in the United States. It is a must-read for anyone involved in legislative efforts to implement and strengthen such policies."--Bernd Wollschlaeger, Journal of the American Medical Association "Paying the Tab offers a wide-ranging historical and social scientific perspective on alcohol in the United States and argues that more must be done to control the consumption of alcohol."--Jennifer Prah Ruger, Ph.D., New England Journal of Medicine "Philip Cook does not offer us an economic history here, but his book should still be of interest to American economic historians and anyone interested in addiction, alcohol and related problems. He ably reviews and dissects an extensive literature to make the case for additional alcohol control policies."--Mark Thornton, EH.Net "Philip Cook's book, Paying the Tab, is an excellent book for academics, policy analysts, and graduate students to use as a primary source on U.S. alcohol policy... Cook sets precedence for all other authors who write on substance abuse policy should follow. He provides both an in-depth analysis of one drug by examining it through historical, economic and social viewpoints."--Dwight Vick, International Journal of Drug PolicyTable of ContentsList of Illustrations ix Preface xi CHAPTER 1: Introduction 1 PART I Rise and Fall of Alcohol Control 11 CHAPTER 2: A Brief History of the Supply Side 13 CHAPTER 3: The Alcoholism Movement 34 PART II Evidence of Effectiveness 47 CHAPTER 4: Drinking: A Primer 49 CHAPTER 5: Prices and Quantities 65 CHAPTER 6: Alcohol Control as Injury Prevention 82 CHAPTER 7: Long-Term Effects: Hearts and Minds 107 CHAPTER 8: The Drinker's Bonus 120 PART III Assessing Policy Options 131 CHAPTER 9: Evaluating Interventions 133 CHAPTER 10: Regulating Supply 148 CHAPTER 11: Taxing the Alcohol Industry 165 CHAPTER 12: Youth as a Special Case 179 CHAPTER 13: Alcohol-Control Policy for the Twenty-First Century 196 Methodological Appendix 203 Notes 207 References 221 Index 249
£23.75
Princeton University Press Capital and Collusion The Political Logic of
Book SynopsisTrade Review"Capital and Collusion provides an interesting read for anyone attracted by the complexity of international political economic development... By highlighting the forces at work in developing countries, Root addresses the notion that distribution of wealth is often complex and requires situation specific responses to nations who are hindered by collusive cultural practices."--Andrew J. Prelog, Journal of Economic IssuesTable of ContentsTables and Figures ix PART I: Analytical Perspectives 1 CHAPTER ONE: Risk, Uncertainty, and Social Progress 3 CHAPTER TWO: Social Foundations of Policy Credibility 17 CHAPTER THREE: Politics and Economic Structure: The Economic Logic of Autocracy 35 CHAPTER FOUR: An Amazing Economy of Information: The Financial System 48 PART II: Regional and National Complexity 57 CHAPTER FIVE: Closing the Social Productivity Gap in East Asia 59 CHAPTER SIX: The Price of Exclusion: Latin America's Explosive Debt 89 CHAPTER SEVEN: Why Not India?New Century, New Country 114 CHAPTER EIGHT: Pakistan on the Edge 157 CHAPTER NINE: China's Capitalist Dream: Between Hierarchy and Market 187 PART III: Conclusion 219 CHAPTER TEN: Mobilizing the State as Public Risk Manager 221 CONCLUSION: Uncertainty, Competition, and Collusion in Early Capital Accumulation 246 Acknowledgments 249 Appendix 1 Data Sources 251 Appendix 2 Variables 252 Notes 253 References 307 Index 327
£25.20
Princeton University Press Unequal Democracy
Book SynopsisTrade ReviewWinner of the 2009 Gladys M. Kammerer Award, American Political Science Association Winner of the 2009 Leon D. Epstein Outstanding Book Award, Political Organizations and Parties Section of the American Political Science Association "[I recommend] Larry M. Bartels's Unequal Democracy. Especially at this time every thoughtful American needs to learn as much as possible about the relationship of politics to economics."--Bill Clinton, Daily Beast "Obama can connect with voters on the economy by using history as a guideline. He should start by reading Unequal Democracy, by Princeton academic Larry Bartels. The non-partisan and non-political Bartels points out devastatingly after an exhaustive study of Democratic and Republican presidents that the Democrats built a better economy and a more just society."--James Carville, CNN "Many Americans know that there are characteristic policy differences between the [Republican and Democratic] parties. But few are aware of two important facts about the post-World War II era, both of which are brilliantly delineated in a new book, Unequal Democracy, by Larry M. Bartels, a professor of political science at Princeton. Understanding them might help voters see what could be at stake, economically speaking, in November."--Alan Blinder, New York Times "Bartels is the political scientist of the moment. Along with Obama, Bill Clinton also read and recommends Unequal Democracy. [M]ost people on the street could have told Bartels that the working poor fare better under Democrats ... but the importance of these and some other findings in the book ... is that they use scholarly methods to provide political explanations for economic problems."--Michael Tomasky, New York Review of Books "A provocative new book by Princeton professor Larry M. Bartels, one of the country's leading political scientists."--Dan Balz, Washington Post "A short review cannot convey the rich variety of arguments and data Bartels deploys in making his case. Some of his analysis focuses on broadly characterized partisan differences, some on high profile examples such as the politics of the minimum wage and the estate tax. He will have done a considerable service if the next time we start thinking about economics we also think about politics. Bartels shows that social issues do not create as strong a headwind against class-based voting as is often assumed and that lower income voters do tend to vote Democratic while upper-income voters do tend to vote Republican. Unequal Democracy offers an important case for why this might be."--Robert Grafstein, Science "[A] provocative new book by Princeton professor Larry M. Bartels, one of the country's leading political scientists. One of Bartels's most intriguing conclusions is that the political timing of economic growth has influenced voters. Republican presidents...have often generated significant economic growth rates in presidential election years, while Democratic presidents have not."--Dan Balz, Washington Post "[E]xtraordinarily insightful."--Bob Braun, Newark Star-Ledger "Unequal Democracy makes the choice voters face clear: Democratic policies spread the wealth and Republican policies protect the wealthy."--Julian E. Zelizer, The Huffington Post "[Bartels] is correct in drawing attention to the tension between the egalitarian values that Americans hold and their apparent toleration for growing economic inequality. And at every step of the argument, he defines and analyzes interesting and relevant evidence."--Richard R. John, Forum "Prodigiously researched and cogently argued, Bartels's timely work should interest academics and lay readers alike."--Blake A. Ellis, Journal of Southern History "The book is exemplary throughout in its transparency with regard to the data and Bartels's analytic strategy for using them, in its attention to alternative explanations for a given outcome, and in its balance between not over-reaching and asserting a clear, controversial, and important thesis... Full of evidence, insights, and surprises... The book is never less than provocative and is often revelatory."--Jennifer Hochschild, Perspectives on Politics "For a book targeted at both academic and nonacademic audiences, Bartels strikes a nice balance between exhaustive empirical rigor and accessibility... Bartels gives us a wide-ranging framework for thinking about the ways that citizens interact with the political system, and in so doing maps an agenda for the next generation of research on American democracy in action."--Nicholas J. G. Winter, Public Opinion Quarterly "Larry Bartels's Unequal Democracy is a major landmark in political scientists' efforts to grapple with inequality... Bartels has done so much, and has done it so well, that anyone who quibbles with his interpretations or suggests that he has left important questions unanswered is likely to seem ungenerous, even churlish... Unequal Democracy should be taken as a major contribution and as a touchstone for further research."--Benjamin I. Page, Perspectives on Politics Praise for the first edition: "[I recommend] Larry M. Bartels's Unequal Democracy. Especially at this time every thoughtful American needs to learn as much as possible about the relationship of politics to economics."--Bill Clinton, Daily Beast Praise for the first edition: "The non-partisan and non-political Bartels points out devastatingly after an exhaustive study of Democratic and Republican presidents that the Democrats built a better economy and a more just society."--James Carville, CNN Praise for the first edition: "Provocative."--Dan Balz, Washington Post Praise for the first edition: "Unequal Democracy is the sort of book to which every political scientist should aspire... Bartels's perplexing and often unexpected discoveries should help refocus the gathering public debate about inequality and what to do about it."--Robert D. Putnam, author of Bowling AloneTable of ContentsPreface to the Second Edition xi Preface to the First Edition xv 1 The New Gilded Age 1 Escalating Economic Inequality 7 Interpreting Inequality 16 Economic Inequality as a Political Issue 23 Inequality and American Democracy 28 2 The Partisan Political Economy 33 Partisan Patterns of Income Growth 35 A Partisan Coincidence? 38 Partisan Differences in Macroeconomic Policy 48 Macroeconomic Performance and Income Growth 52 Do Presidents Still Matter? 57 Partisan Redistribution 62 Democrats, Republicans, and the Rise of Inequality 69 3 Partisan Biases in Economic Accountability 74 Myopic Voters 76 The Electoral Timing of Income Growth 82 Class Biases in Economic Voting 87 The Wealthy Give Something Back: Partisan Biases in Campaign Spending 93 The Political Consequences of Biased Accountability 98 4 Do Americans Care about Inequality? 105 Egalitarian Values 108 Rich and Poor 113 Perceptions of Inequality 118 Facts and Values in the Realm of Inequality 124 5 Homer Gets a Tax Cut 136 The Bush Tax Cuts 138 Public Support for the Tax Cuts 144 Unenlightened Self-Interest 150 The Impact of Political Information 155 The Long Sunset 163 6 The Strange Appeal of Estate Tax Repeal 170 Public Support for Estate Tax Repeal 173 Is Public Support for Repeal a Product of Misinformation? 181 Did Interest Groups Manufacture Public Antipathy to the Estate Tax? 189 Elite Ideology and the Politics of Estate Tax Repeal 193 7 The Eroding Minimum Wage 198 The Economic Effects of the Minimum Wage 202 Public Support for the Minimum Wage 205 The Politics of Congressional Inaction 209 Democrats, Unions, and the Eroding Minimum Wage 217 Local Action 223 The Earned Income Tax Credit 228 8 Economic Inequality and Political Representation 233 Congressional Representation 235 Unequal Responsiveness 239 Partisan Differences in Responsiveness 248 Systemic Responsiveness 249 Plutocracy? 254 Why the Poor Are Unrepresented 257 9 Stress Test: The Political Economy of the Great Recession 269 The 2008 Election and "the New New Deal" 274 Reaction and Gridlock 281 The Political Impact of the Recession 286 But Did It Work? 295 Geithner's World 301 Not the New New Deal 305 10 The Defining Challenge of Our Time? 309 A "National Conversation"? 311 The Class War Gets Personal: Inequality as an Issue in the 2012 Campaign 315 Obama and Inequality 329 The Political Challenge 334 11 Unequal Democracy 342 Who Governs? 344 Partisan Politics and the "Have-nots" 347 Political Obstacles to Economic Equality 352 The City of Utmost Necessity 358 Postscript 365 References 367 Index 385
£26.60
Princeton University Press The Little Big Number
Book SynopsisTrade Review"[Philipsen] is not the first to question the utility of GDP estimates, but he may be the most exasperated. His comprehensive history... compares GDP to any number of villains in order to make tangible the number's many flaws... He is keyed into how a culture that once burgeoned can implode, and he is anxious about ours."--Katy Lederer, New Yorker "Comprehensive and readable... Philipsen is motivated by a profound dissatisfaction with the dominance of growth in the national economic agenda, and with the way in which GDP... has become a goal rather than simply a measuring tool... [I]n the end the policies he advocates may indeed prevail, and our fixation on growth in GDP as the sole indicator of human happiness may at last be laid to rest."--David Throsby, Times Literary Supplement "[The Little Big Number] takes the anti-GDP case even further... Philipsen argues that not only is GDP a flawed statistic in need of replacing--but the whole notion of open-ended economic growth needs to go, too."--Kevin Hartnett, Boston Globe "Some efforts are already underway, most notably the 'Beyond GDP' initiative by the European Commission, but much remains to be done. Philipsen's book is a clarion call."--Seeking Alpha "[Philipsen's] call for a dialogue about setting new goals--sustainability, equity, democratic accountability, and economic viability--should command our attention... It won't be easy. But Philipsen is surely right that no task is more important."--Glenn C. Altschuler, Huffington Post "Dirk Philipsen's The Little Big Number, couldn't have come at a better time."--Douglas Beal, Huffington Post "[A] provocative and insightful book... The book stands on its own as a piece of economic history, but also serves as an important call for social change."--Alex Mitchell, Consumption Markets & Culture "This book nicely summarizes the many critiques of GDP. Philipsen's knowledge of economic theory, statistics, econometric accounting, and history is impressive."--Stephen Macekura, American Historical Review "Its cautionary story of the creation of GNP accounting is eye-opening, and well told. The list of ways that GDP could be improved, even as a measure of production ... all provoke thought. The book easily could be used as a directory of research criticizing GDP."--Donald Frey, EH.NetTable of ContentsAcknowledgments vii Introduction: We Become What We Measure 1 Casting a Spell 9 Exploring a Path 13 1. More, Better, Faster: The Beginnings 19 Productivity, Growth, and Success 20 Goals and Measures 27 Values and Measures 32 2. The Origins of Bling: The Spirit of Economic Growth 40 The World of Growth: Refining the Measure 52 Business Accounting Goes National 57 3. The Crucible of Crisis: The Great Depression and the Need for Economic Indicators 65 4. Born from Disaster: The Making of a Key Measure 83 The Challenge 84 The Players 89 The Method 93 The Findings 99 The Big Conundrum: Translating Findings into Action 102 5. Forged in War 107 6. Global Domination: The Age of GDP 117 For Richer or Poorer 117 A Stunted Priesthood 121 Stopgap Consensus 123 Going Global 128 New Rules 130 GDP Junkies 133 Shackled in Fool's Gold 139 7. Today's ABC of GDP 143 It's an Emperor, but Does It Have Clothes? 152 Why It Matters 157 8. More Is Not Enough 160 The Little Big Number: Our Report Card for Success 174 Emerging Dissent 178 9. "The People of Plenty Are a People of Waste" 184 Breaking the Spell 204 10. From Alchemy to Reason: What If? A Thought Experiment 208 Mental Cobwebs 219 One More Time: Simon Kuznets 230 Clearing a Path 236 11. Looking Forward 243 A Daring Vision 250 A Moment of Possibility 265 Appendix A. The Measure as Guide 271 Notes 277 Bibliography 351 Index 389
£18.00
Princeton University Press American Insecurity
Book SynopsisTrade ReviewWinner of the 2016 Best Book Award, Experimental Research Section of the American Political Science Association "Levine provides evidence that financially anxious people respond to their stress not by grouping together for action but by becoming less generous with their checkbooks and personal time."--Pacific Standard "This provocative volume identifies the 'self-undermining' political rhetoric inherent in the discussion of important economic issues as the driving reason contemporary working-and middle-class Americans have not produced political movements corresponding to the scale of the financial challenges they face... The research presented here is an interesting, well-defended addition to the literature on the nature of collective political action."--Choice "Powerful and highly accessible... Levine has succeeded in shining a light on the disconcerting reality that many citizens abstain from getting involved in addressing the very issues that deeply affect and permeate their everyday lives."--John V. Kane and Jason Barabas, Journal of PoliticsTable of ContentsAcknowledgments vii 1 Financial Threats and Self-Undermining Rhetoric 1 2 Do Americans View Financial Threats as Important Political Issues? 35 3 Who Mobilizes? 81 4 Why Rhetoric about Economic Insecurity Can Be Self-Undermining 107 5 How People Respond to Participation Requests 117 6 Political Voice across Issues 161 7 Self-Undermining Rhetoric in the Past and Present 193 Appendix A: Multivariate Models from Chapter 2 213 Appendix B: Analysis of the Washington D.C., Interest-Group Community 217 Appendix C: Multivariate Models from Chapter 5 227 Appendix D: Noncompliance in the ACSCAN Donation Experiment 230 Appendix E: Materials for Experiments in Chapter 5 233 Appendix F: Multivariate Models from Chapter 6 243 Appendix G: Details on Variable Coding for Multivariate Models throughout the Book 249 Notes 253 Bibliography 283 Index 297
£19.00
Princeton University Press The Mystery of the Kibbutz
Book SynopsisTrade Review"[This book] draws on extensive statistical data to analyse this paradox, along with many stories of his relatives who forged, embraced and sometimes rejected the kibbutz way of life." * Times Higher Education *
£29.75
Princeton University Press What Makes a Terrorist
Book SynopsisTrade Review"What are the individual and societal causes of terrorism? The book's great strength is its focus on new sources of data examined in new ways. The most compelling analysis in the book is of biographical information on operatives from Hezbollah and Hamas. This is a substantial contribution, offering insight into who becomes a terrorist and, as important, pushing terrorism studies in a productive new direction, toward microlevel data. The book provides a valuable service in dispelling the stereotype of the poor, ignorant terrorist."--Ethan Bueno de Mesquita, Science "It seems universally obvious that poverty and poor education breed terrorism. But it's wrong... [Alan Krueger] went in search of evidence for the terrorism part of the proposition and found next to none. He has set out his findings in What Makes A Terrorist."--Peter Martin, Canberra Times "This new book by Alan Krueger, full of first-rate empirical work, punctures many myths about terrorism."--Tyler Cowen, Marginal Revolution "[Krueger] seeks to put the risks Americans face from terrorism into 'proper perspective' with his unique book."--John McCaslin, Washington Times "What Makes a Terrorist brings together disparate data, such as academic studies and government reports, arraying them into a concise, accessible argument against the notion that we can defeat terrorism through aid and education. While Krueger is careful to affirm that these are useful in combating many social ills, he is adamant that terrorism is not one of them. He offers skilled analysis to show that an aggressive foreign policy based on this fallacious assumption has cost several nations dearly and also warns that continuing along this course may provoke further terrorist acts."--Tony Azios, Christian Science Monitor "Using raw data from government, academic, and think-tank sources and citing the work of other economists on poverty, race, terrorism, and hate crimes, Krueger explains in clear and accessible prose that the average terrorist suspect is highly educated, professionally employed, from a middle- or higher-class background, and, most important, from a country that suppresses civil liberties... Avoiding jargon whenever possible and defining it when unavoidable, Krueger excels in making his difficult subject easy to grasp without reducing its inherent complexity. The occasional pop culture reference (e.g., to the Daily Show) adds to the appeal. Highly recommended for both academic and public collections."--April Younglove, Library Journal (starred review) "What makes a terrorist? Are the drivers primarily political or economic? Princeton economist Alan Krueger has made a great study of this question...What Makes a Terrorist lacks a question mark. That's because Krueger, marshaling persuasive statistics and analysis, comes down firmly on the side of politics, noting most terrorists are middle-class and well-educated."--Thomas P.M. Barnett, Knoxville News Sentinel "[Krueger] analyzed data from NCTC and elsewhere, and came up with often counter-intuitive findings... Krueger's book collects comprehensive evidence."--Zack Phillips, Government Executive "An invaluable little book... What Makes a Terrorist uses standard tools of economics and statistical analysis to get at the truth about terrorism... Krueger finds one familiar fact in all his numbers. Countries with fewer civil liberties tend to produce more terrorists."--Daniel Finkelstein, Times (London) "Krueger's book is a necessary read for anyone who wishes to understand terrorism, especially because many of the popular notions of what causes it are not rooted in reality. One wishes that politicians, especially, would pay attention."--Amit Varma, Live Mint "[Krueger] in his groundbreaking new book, What Makes a Terrorist, enlists the 'dismal science' to tackle the despicable one. Provocative, dispassionate and accessible, Krueger's book is a breath of fresh air in the stifling climate of empty speculation that dominates the terror dialogue in post-9/11 America."--Ryan Hagen, Brooklyn Rail "To challenge the widespread view that terrorism is caused by economic deprivation and lack of education, Krueger redirects thinking about terrorism by raising three provocative questions that can be answered by scrutiny of evidence from an economic perspective... Krueger shows how complex the data and issues are, the dangers of moving from correlation to cause--and how to think clearly and courageously about politically motivated violence."--L.J. Alderink, Choice "I am quite sure that this book will be very widely read; it builds on recent literature by both Krueger and a young breed of scholars who have used technical sophistication to disprove the expected positive effect of poverty and ignorance on terrorism."--Siddhartha Mitra, Eastern Economic Journal "[E]minently readable and informative."--Ira Smolensky, Magill Book Reviews Praise for What Makes a Terrorist: "In this beautifully written book, one of the world's most respected economists tackles the question of terrorism. Krueger's work represents the most careful data-driven research ever done in this area. This is a book that a lay audience will read and enjoy, but with a rigor and depth that will inform the experts in the field. This is timely and important work which should play a critical role in shaping our public policies on terrorism."--Steven D. Levitt, coauthor of Freakonomics Praise for What Makes a Terrorist: "Alan Krueger ... has done pathbreaking research on why so many terrorists come from middle-class backgrounds."--David Leonhardt, New York Times Praise for What Makes a Terrorist: "Full of first-rate empirical work."--Tyler Cowen, Marginal Revolution Praise for What Makes a Terrorist: "Economist Alan Krueger ... explores this phenomenon with a systematic study of the evidence... All in all, the research that Krueger gathers together suggests that if there is a link between poverty, education and terrorism, it is the opposite of the one popularly assumed."--Tim Harford, Financial Times Praise for What Makes a Terrorist: "An invaluable little book... [U]ses standard tools of economics and statistical analysis to get at the truth about terrorism."--Daniel Finkelstein, Times (London) Praise for What Makes a Terrorist: "This book is a model of how academics can contribute to major public policy debates."--Lawrence D. Freedman, Foreign Affairs
£19.80
Princeton University Press Tocquevilles Political Economy
Book SynopsisTrade Review"[T]he book is engaging and, along with its 50 pages of notes and source material, offers many insights into this important period in the history of economic thought."--J. Halteman, Choice "Swedberg fills his book with intriguing information, observations, and syntheses, some of which range far beyond his stated topic."--Alan Sica, American Journal of SociologyTable of ContentsList of Illustrations vii Acknowledgments ix Introduction 1 CHAPTER ONE: The Economy of the New World 6 CHAPTER TWO: The Other Democratic Economy 38 CHAPTER THREE: Tocqueville's Background in Economics 73 CHAPTER FOUR: Tocqueville's Approach to Economic Analysis 100 CHAPTER FIVE: Pauperism and the Habits of Property 126 CHAPTER SIX: Politics in a Democratic Economy 146 CHAPTER SEVEN: Foreign Affairs and Economic Affairs 173 CHAPTER EIGHT: Threats to the Democratic Economy 199 CHAPTER NINE: Sorrento and the Return to Thinking 219 CHAPTER TEN: The Economy of the Old World 238 EPILOGUE: Thinking with Tocqueville 272 Notes 285 Index 337
£27.00
Princeton University Press Currency Power
Book SynopsisTrade Review"The ideas are clearly explained and speak directly to a broad spectrum of the existing international political economy literature." * Choice *"An important contribution to our understanding of financial statecraft. This is not only the first comprehensive treatment of currency power, it is likely to remain the best such treatment for years to come. As such, the book is necessary reading for everyone interested in whether the dollar will remain at the top of the global currency pyramid as well as why retaining that status matters."---Thomas Oatley, Cambridge Review of International Affairs
£19.00
Princeton University Press Democracy and Prosperity
Book SynopsisTrade Review"One of the Financial Times' Summer Books of 2019: Economics""Thought-provoking."---Martin Wolf, Financial Times"Many on the right argue that democracy subverts capitalism. Many on the left argue that capitalism undermines democracy. In this brilliant book, Iversen and Soskice argue compellingly that both views are wrong."---Martin Wolf, Financial Times, Summer Books of 2019"Persuasively argue[d]."---Edwards Hadas, Reuters BreakingViews"Iversen & Soskice present a unique analysis of the relationship between capitalism and democracy. . . .[Democracy and Prosperity] offers a brilliant framework that will be greatly acknowledged as well as critiqued in the coming years."---M Karem Coban, Democratic Audit UK"Iversen and Soskice present a unique analysis of the relationship between capitalism and democracy . . . . [this] book offers a brilliant framework that will be greatly acknowledged as well as critiqued in the coming years."---M Kerem Coban, LSE Review of Books"The authors deliver an impressive series of empirical findings and theoretical arguments in favor of this unconventional and bold thesis at odds with an era in which illiberal democracies and populist movements prosper."---Robert Boyer, Journal of Economics
£29.75
Princeton University Press Of Privacy and Power
Book SynopsisTrade Review"Winner of the ICOMM Best Book Award, International Communication Section of the International Studies Association""One of Foreign Affairs Best Books of 2019""A Daniel Drezner Best Political Economy Book of the Year""A Just Security Holiday Reading Book of the Year""Talk about having a year. Most political economy scholars would be happy to have one standout publication in a year. Farrell and Newman produced two distinct pieces of scholarship, both of which deal with the less anticipated ramifications of deepening economic interdependence. Of Privacy and Power explains how the United States was able to get the European Union to adopt some (but not all) of its post-9/11 security measures on issues ranging from airline passenger data to finance. Interdependence empowered newer, nontraditional actors, creating new cross-national bargains."---Daniel Drezner, Washington Post"An important contribution to political science, expanding on their concept of 'weaponized interdependence,' namely how the U.S. (and sometimes other political actors) uses access to international networks, such as SWIFT, to push other nations around."---Tyler Cowen, Marginal Revolution"American debates about privacy and security tend to be framed in terms of purely domestic interests: This book details how those conflicts are critically shaped by international relations, and how the US and EU facets of that fight can’t be understood in isolation."---Julian Sanchez, Just Security
£29.75
Princeton University Press The Party and the People
Book SynopsisTrade Review"A Choice Outstanding Academic Title of the Year""The Party and the People provides a wonderfully clear-eyed look at how the CCP has reinvented itself since 1989."---Jeffrey Wasserstrom, Mekong Review"Dickson’s book gives a useful overview of the various bodies that run China and the party’s involvement in them. He also surveys a series of important questions, such as why the CCP doesn’t like civil society or religious groups. He is especially strong on the issue of nationalism, which many foreign observers assert is growing in China, especially among young people. Dickson gives a sure-footed assessment of public opinion data to show that this is not the case, and that young people are in fact less nationalistic than their parents’ generation."---Ian Johnson, New York Review of Books"The Party and the People ... drafts a helpful balance sheet of the party’s strengths and weaknesses, giving readers a better understanding of how the CCP’s versatility enabled it to become the longest-ruling communist party in history."---Orville Schell, Foreign Affairs"A good treatment of exactly what the title promises."---Tyler Cowen, Marginal Revolution"An ideal text for college courses on Chinese politics, and the writing is fully accessible to general readers as well." * Choice *"Bruce J. Dickson offers a comprehensive description of how China’s authoritarian political system operates. ... Dickson observes how the Chinese Communist Party (CCP) manages to stay in power without the necessary elements of Western liberal democracy, such as individual rights, freedom of speech, and multiparty competitive elections."---Wenfang Tang, American Affairs Journal"Dickson offers a comprehensive primer on how the CCP chooses leaders and makes policy, how it responds to political protests with repression both hard and soft, and how it may use or constrain the forces of nationalism based on what aids its political survival. ... In calm, lucid prose, Dickson traces the evolution of the CCP since 1949, focusing on the recent divergence between local and higher-level leaders."---Nicolas Gattig, Japan Times"An authoritative survey of the major issues confronting China."---Walter C. Clemens, Jr., New York Journal of Books"Very well balanced in evaluating factionalism and party ideology in the decision-making and personnel appointment processes. . . . [and] a good overview of how the CCP runs China, and how the CCP responded to different stakeholders in the country with a Top to Down Approach."---Larry Ngan, Interlib"A tour de force in all its aspects, Dickson’s new book shows his mastery of relevant facts, nuances and scholarship on China, and an enviable power of synthesis marshalled for the benefit of a non-expert audience. The plethora of examples and the photos offered throughout the book recommend it as an engaging reading for the widest possible audience."---Lavinia Stan, European Legacy
£22.50
Princeton University Press The Handbook of Economic Development and
Book SynopsisTrade Review“This book brings together a cohesive and well-chosen set of high-quality essays on every possible subtopic under the general rubric of institutions and development. It offers readers the most significant material on this important subject all in one volume.”—Ashok Kotwal, University of British Columbia“This book summarizes recent research in what is currently one of the most exciting areas in development economics, and indeed, in economics more generally. The stellar collection of contributors and lead editors guarantees that this volume will have an impact. There is no comparable book in the field.”—Sanjay Jain, University of Oxford
£89.25
Princeton University Press The Myth of Independence
Book SynopsisTrade Review"Finalist for the 31st D.B. Hardeman Prize, LBJ Foundation""Winner of the 2018 Gladys M. Kammerer Award, American Political Science Association""Winner of the 2018 Richard F. Fenno, Jr. Prize, Legislative Studies Section of the American Political Science Association""One of Project Syndicate’s Best Reads in 2017 (chosen by Koichi Hamada)"
£19.00
Princeton University Press The Mystery of the Kibbutz
Book SynopsisTrade Review"[This book] draws on extensive statistical data to analyse this paradox, along with many stories of his relatives who forged, embraced and sometimes rejected the kibbutz way of life." * Times Higher Education *
£20.90
Princeton University Press Economic Statecraft
Book SynopsisTrade Review"A masterpiece he has recently updated. . . . Baldwin’s (1985) work laid a solid foundation for subsequent studies related to economic statescraft."---Falin Zhang, China International Strategy Review
£89.25
Princeton University Press The Economics of Belonging
Book SynopsisTrade Review"The real argument of the book comes in the second half, namely that a set of radical but feasible policies holds the solution to inequality. And, if they were implemented, Sandbu eloquently argues, more globalisation would benefit all and defang populist polarisation."---Diane Coyle, Financial Times"[A] brilliant, if sometimes controversial, exposition of what ails our economies and political systems."---Chris Johns, Irish Times"The Economics of Belonging is a competent, confidently articulated survey of the academic economics literature on inequality."---Paul Collier, Prospect"This is a crisply written analysis of economic discontents and their political consequences. Though written in the pre-pandemic era, the conclusions and prescriptions of this book are very relevant to our current debates."---Paschal Donohoe, Irish Times"A wealth of analysis and insight [in] a few hundred pages."---Peter Thal Larsen, Reuters Breakingviews"Sophisticated and engaging. . . . Thorough and compelling."---Paolo Mauro, Finance & Development"The Economics of Belonging is an important contribution to the debate about the ‘left-behind’. Sandbu offers a highly readable and carefully argued narrative, which marshals evidence adroitly and proposes a range of policy prescriptions, many of which are persuasive and deserve serious attention."---John Tomaney, LSE Review of Books
£18.00
