Public finance and taxation Books

Book SynopsisAimed at undergraduates studying public sector economics, this text covers a comprehensive range of topics and provides a comparative perspective using data and policy ideas from a wide number of European countries.Table of Contents Introduction Economic Rationales for the State Equity and Efficiency Public Goods Externalities Asymmetric Information Benefit Analysis Public Choice Government Failure Taxation Tax Incidence and Efficiency Intertemporal Issues Taxes on Labour Social Insurance and the Welfare State Income Inequality Poverty Social Policy Pensions and Ageing Healthcare Education and Training Privatisation and Social Ownership Regulation and Competition Policy The Environment Federal Issues and the European Union

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Book SynopsisPrevention is better than cure, it is said, but is it more efficient? In the quest for improvements in health and life expectancy, and reductions in the growth of health care costs, attention has focused on the cost-effectiveness of preventive over curative medicine. Economics adds an essential dimension to the analysis of prevention policy that extends far beyond the study of comparative costs.The aim of this book is to give, for the first time, a comprehensive overview of the economics of prevention. It examines the scope of economics; the impact of the economy on avoidable ill-health, and of prevention on the economy; the economic rationale for provision of preventive services and regulation of hazardous activities; the cost-benefit approach and the nature of efficiency in prevention; the practice of economic appraisal; economic influences on the demand for hazardous commodities and screening services; theories of preventive behaviour; national prevention programme budgeting and priTrade Review`This book is highly impressive. It is a tremendous achievement. The authors are gifted writers and their judgement as to what is central to the argument, and their ability to present complex ideas in a lucid and concise manner, are both excellent.' Health Policy and Planning`This is a useful aid for those wishing to plan prevention programmes and to make the economic case for them.' British Medical Journal`...a valuable addition to the health economics literature in a field where rhetoric and analysis often lead to different conclusions.' International Journal of EpidemiologyTable of ContentsHealth, prevention and economics; Prevention and the economy; Consumers, producers and government; Economic appraisal in prevention; Case studies in primary prevention; Case studies in secondary prevention; Tackling appraisal; Demand and consumption; Preventive behaviour: a closer look; Towards a prevention strategy; Prevention: the contribution of health economics; Index.

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Book SynopsisAs the ratio of retirees to taxpayers increases, concern about the high cost of providing benefits in a pay-as-you-go system has led to economists offering alternatives, one of which involves the investment in stocks and bonds of a person's holdings. This work examines the risks of such systems.

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Book SynopsisThe papers in this volume exploit the substantial variation in U.S. tax policy during the last two decades to investigate how taxes affect a range of household behaviour, including labour-force participation, saving behaviour, and choice of health insurance plan.Table of ContentsAcknowledgments Introduction Martin Feldstein, James M. Poterba. 1: Labor Supply and the Economic Recovery Tax Act of 1981 Nada Eissa Comment: James J. Heckman 2: The Taxation of Two-Earner Families Martin Feldstein, Daniel R. Feenberg. Comment: Harvey S. Rosen 3: Labor Supply and Welfare Effects of a Shift from Income to Consumption Taxation Gilbert E. Metcalf Comment: Gary Burtless 4: The Distributional Effects of the Tax Treatment of Child Care Expenses William M. Gentry, Alison P. Hagy. Comment: Brigitte C. Madrian 5: Tax Subsidies to Employer-Provided Health Insurance Jonathan Gruber, James M. Poterba. Comment: David F. Bradford 6: High-Income Families and the Tax Changes of the 1980s: The Anatomy of Behavioral Response Joel Slemrod Comment: Don Fullerton 7: Tax Shelters and Passive Losses after the Tax Reform Act of 1986 Andrew A. Samwick Comment: Roger H. Gordon 8: The Relationship between State and Federal Tax Audits James Alm, Brian Erard, Jonathan S. Feinstein. Comment: James W. Wetzler Contributors Author Index Subject Index

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Book SynopsisTo help assess existing tax policies and incentives, this volume presents new research on how taxes affect the investment and financing decisions of multinationals today. The contributors examine the effects of taxation on decisions about international financial management, business investment, and international income shifting.Table of ContentsIntroduction Alberto Giovannini, R. Glenn Hubbard, And Joel Slemrod I. International Financial Management 1. Taxes And The Form Of Ownership Of Foreign Corporate Equity Roger H. Gordon And Joosung Jun Comment: Alberto Giovannini 2. Impacts Of Canadian And U.S. Tax Reform On The Financing Of Canadian Subsidiaries Of U.S. Parents Roy D. Hogg And Jack M. Mintz Comment: Neil Bruce 3. The Effects Of U.S. Tax Policy On The Income Repatriation Patterns Of U.S. Multinational Corporations Rosanne Altshuler And T. Scott Newlon II. Investment 4. Taxation And Foreign Direct Investment In The United States: A Reconsideration Of The Evidence Alan J. Auerbach And Kevin Hassett Comment: James M. Poterba 5. On The Sensitivity Of R & D To Delicate Tax Changes: The Behavior Of U.S. Multinationals In The 1980s James R. Hines Jr. Comment: Bronwyn H. Hall 6. The Role Of Taxes In Location And Sourcing Decisions G. Peter Wilson Comment: R. Glenn Hubbard III. Income-Shifting 7. Explaining The Low Taxable Income Of Foreign-Controlled Companies In The United States Harry Grubert, Timothy Goodspeed, And Deborah Swenson Comment: Jeffrey K. Mackie-Mason 8. Income Shifting In U.S. Multinational Corporations David Harris, Randall Morck, Joel Slemrod, And Bernard Yeung Comment: John Mutti Contributors Author Index Subject Index

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Book SynopsisAs a united global economy evolves, economists and policymakers are forced to consider whether the current system of taxing income is inconsistent with the trend toward liberalized world financial flows and increased international competition. To help assess existing tax policies and incentives, this volume presents new research on how taxes affect the investment and financing decisions of multinationals today. The contributors examine the effects of taxation on decisions about international financial management, business investment, and international income shifting. They consider the influence of tax rules on dividend policy decisions within multinationals; the extent to which tax incentives affect the level and location of research and development across countries; and the fact that foreign-controlled companies operating in the United States pay lower taxes than do domestically controlled companies. The contributors to this volume are Rosanne Altshuler, Alan J. Auerbach, Neil Br

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Book SynopsisThe future of retirement programs is troubled, both in United States and in most other developed countries with aging populations. This title examines the consequences of reforming retirement benefits in a dozen nations. It evaluates the effects of illustrative policies for countries facing the impending growth of social security benefits.

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Book SynopsisThe rapid emergence of East Asia as an important geopolitical-economic entity has been one of the most visible and striking changes in the international economy in recent years. With that emergence has come an increased need for understanding the problems of interdependence. As a step toward meeting this need, the National Bureau of Economic Research joined with the Korea Development Institute to sponsor this volume, which focuses on the complexities of tax reform in a global economy. Experts from Taiwan, Korea, the Philippines, Japan, and Thailand, as well as the United States, Canada, and Israel examine the major tax programs of the 1980s and their domestic and international economic effects. The analyses reveal similarities between the United States and countries in East Asia in political constraints on policy making, and taken together they show how growing interdependence interacts with domestic economic and political concerns to affect issues as politically vital as tax reform. Economists, policymakers, and members of the business community will benefit from these studies.Table of ContentsIntroduction, Takatoshi Ito and Anne O. Krueger Part I 1. International Interactions between Tax Systems and Capital Flows, Assaf Razin and Efraim Sadka Comments: Toshihiro Ihori and John Whalley 2. The Role of Taxation in the Development of East Asian Economies, Vito Tanzi and Parthasarathi Shome Comment: Joseph Y. Lim Part II 3. Tax Reform in Japan, Masaaki Homma Comments: Hiromitsu Ishi and Charles E. McLure, Jr. 4. The Political Economy of Tax Reforms and Their Implications for Interdependence: United States, Charles E. McLure, Jr. 5. Tax Reform in Korea, Taewon Kwack and Kye-Sik Lee 6. An Appraisal of Business Tax Reform in Taiwan: The Case of Value-Added Taxation, Chuan Lin Comments: Ching-huei Chang and Kwang Choi Part III 7. The Dynamic Efficiency Effect of a Change in the Marginal Capital Income Tax Rate: The Nakasone-Takeshita Tax Reform Tatsuo Hatta and Hideki Nishioka Comments: Medhi Krongkaew and Assaf Razin 8. The Role of Tax Policy in Korea's Economic Growth, Irene Trela and John Whalley Comments: Anne O. Krueger 9. Aging of Population, Social Security, and Tax Reform, Yukio Noguchi Comments: Hiromitsu Ishi, Maria S. Gochoco, and, Charles E. McLure, Jr. 10. Bequest Taxes and Accumulation of Household Wealth: U.S.Japan Comparison, Thomas A. Barthold and Takatoshi Ito Comments: Ching-huei Chang and Hiromitsu Ishi 11. Taxation of Income from Foreign Capital in Korea , Kun-young Yun Comments: Toshihiro Ihori, Toshiaki Tachibanaki, and Twatchai Yonkittikul 12. Tax Policy and Foreign Direct Investment in Taiwan Ching-huei Chang and Peter W. H. Cheng Comments: Kwang Choi and Toshihiro Ihori

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Book SynopsisWith essays on labour force participation and retirement, housing equity and the economic status of the elderly, and financing of social security and health care in the 1990s, this volume covers a broad spectrum of issues related to the economics of ageing in the United States and Japan.Table of ContentsPreface Introduction 1 Yukio Noguchi, David A. Wise. 1: Aging and Labor Force Participation: A Review of Trends and Explanations 7 Robin L. Lumsdaine, David A. Wise. 2: Social Security Benefits and the Labor Supply of the Elderly in Japan 43 Atsushi Seike, Haruo Shimada. 3: The Economic Status of the Elderly in the United States 63 Michael D. Hurd 4: Household Asset- and Wealthholdings in Japan 85 Noriyuki Takayama 5: Problems of Housing the Elderly in the United States and Japan 109 Daniel L. McFadden 6: The Cost of Aging: Public Finance Perspectives for Japan 139 Seiritsu Ogura 7: Financing Health Care for Elderly Americans in the 1990s 175 Alan M. Garber Contributors 195 Author Index 197 Subject Index 201

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Book SynopsisAn overview of the political and economic issues involved in the formation of budget deficits. The text brings together theoretical models, empirical evidence and case studies to analyze the effect of political institutions, fiscal regulations, and policy decisions on accumulating deficits.

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Book SynopsisAsking the question Do deficits matter?, this text answers both yes and no. Yes, because fiscal policy affects generational distribution, national saving and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content.

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Book SynopsisThe question of how to generate sufficient revenue to pay for health care has become a serious concern for nearly all European policy-makers. This book examines the advantages and disadvantages of funding arrangements currently in use across Europe. Adopting a cross-national, cross-disciplinary perspective, it assesses the relative merits of the main methods of raising resources including taxation; social, voluntary and supplemental forms of insurance; and self-pay including co-payments. Chapters written by leading health policy analysts review recent evidence and experience in both eastern and western Europe. The volume is introduced by a summary chapter which integrates conceptual issues in funding with an overview of the main advantages and disadvantages of each method of funding drawn from the expert chapters. This is an important book for students of health policy, health economics, public policy and managment, and for health managers and policy makers.Table of ContentsNotes on contributorsSeries editors' prefaceForewordFunding health carean introductionFinancing health caretaxation and the alternativesSocial health insurance financingHealth financing reforms in central and eastern Europe and the former Soviet UnionPrivate health insurance and medical savings accountstheory and experienceVoluntary health insurance in the European UnionUser charges for health careInformal health payments in central and eastern Europe and the former Soviet Unionissues, trends and policy implicationsLessons on the sustainability of health care funding from low- and middle- income countriesFunding long-term carethe public and private optionsStrategic resource allocation and funding decisionsFunding health care in Europeweighing up the optionsReferencesIndex.

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Book SynopsisMaster today's most current tax concepts and tax law with Young/Nellen/Persellin/Lassar/Cuccia/Cripe's SOUTH-WESTERN FEDERAL TAXATION 2025: INDIVIDUAL INCOME TAXES, 48th Edition, and accompanying professional tax software. Updates emphasize recent tax changes impacting individuals and financial statements. Examine updates and reforms to 2024 tax laws as you learn to work with individual taxation and the Form 1040. Examples, summaries and tax scenarios clarify concepts and sharpen critical-thinking, writing and research skills. Sample exam questions from Becker C.P.A. Exam Review help you study. Each new book includes access to Intuit ProConnect tax software, Checkpoint Edge (Student Edition) from Thomson Reuters and CNOWv2. Use this introduction to prepare for the C.P.A. exam, Enrolled Agent exam or further your career in tax accounting, financial reporting or auditing.

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Book SynopsisTrade Review"Winner of the Hayek Book Prize, Manhattan Institute""One of the Financial Times' Summer Books of 2019: Economics""A Project Syndicate Best Read in 2019"

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Book SynopsisModels of democratic decision-making tend to assume that voters have preferences, and that candidates conform to those preferences. In reality, voters adopt the policies of those political elites - they follow their leaders. Policies are designed by the elite and the masses have little influence over them.Table of Contents1. Introduction; 2. Instrumental and Expressive Preferences; 3. Influences Over Preference Formation; 4. Preference Aggregation Through Voting; 5. The Formation of Political Preferences; 6. Anchor Preferences and Derivative Preferences; 7. Preferences of Elites and Masses; 8. Policies that Maximize Political Power; 9. Patriotism, Propaganda, and the Public Interest; 10. Implications for Democracy.

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Book SynopsisThis systematic study of Chinese taxation explains the lessons China's successful revenue-raising effort holds for developing countries, the reasons why mainstream economic theories must be revised to recognize fundamentally different types of state capacity, and the challenging questions the Chinese paradigm raises for the future of taxation.Trade Review'One of the foremost international tax scholars in the world, Cui Wei presents a fascinating yet largely unknown recent development in international fiscal policy: the extraordinary decision by China to implement its income tax system without relying on principles - the rule of law, and self-assessment by taxpayers - that are foundational elements of sound tax administration in most developed countries. Cui's highly readable, carefully researched, and balanced account is must-reading for those interested in understanding China's likely future place on the world stage.' George K. Yin, Distinguished Professor of Law and Taxation Emeritus, University of Virginia'This book provides a fresh and informative account about how the Chinese tax system really works. Even those not specifically interested in China or taxation can learn much from this examination of the development of China's policy in this area. Wei Cui's book offers not only a novel approach to studying tax administration but also many useful lessons for anyone concerned with implementing public policy in any country. In policy analysis, the devil is usually found in the details: this is a rare study that not only delves into the relevant details but also carefully places them within the relevant context and shows how context shapes both policy and outcomes,' Richard M. Bird, Professor Emeritus of Economic Analysis and Policy, Rotman School of Management, University of Toronto'Cui presents an engrossing story of the operation of the Chinese tax and fiscal systems. The rich empirical data, the refreshing perspective from which the subject matter is examined, and its novel arguments make a valuable contribution to the field. Readers familiar with taxation or Chinese legal systems will appreciate the author's mastery of his materials as well as his ability to identify key features from an array of discrete and complex information sources and to interpret those features in familiar terminologies to readers outside China.' Yan Xu, The China Quarterly'In his [remarkable] book…Cui composes a detailed picture of an organized modern tax system that does not depend on rule of law. Yet the Chinese fiscal system is neither a dissolute mess nor a top-down exercise of discretionary power…This is more than a story about tax farming or crony Communism … Cui's observations are valuable and thought-provoking for the study of any jurisdiction's tax system.' Susan C. Morse, Florida Tax ReviewTable of ContentsList of figures and tables; Acknowledgements; List of abbreviations; Introduction; 1. The forgotten reform; 2. What is an audit?; 3. Atomistic coercion; 4. Returning responsibilities to taxpayers; 5. Organizing revenue; 6. Policymaking without information; 7. The rhetoric of law; 8. Varieties of state capacity; 9. Pivoting away from the rule of law; References; Index.

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Book SynopsisIt's simply peerless - there's no other book with this range of coverage and this amount of class questions. Melville deserves its place as the UK's leading tax textbook Christopher Coles, University of Stirling The book fits very well with the content and learning objectives of taxation modules Gwen Hannah, University of Dundee Now in its 21st annual edition, Melville's Taxation continues to be the definitive, market-leading text on UK taxation. This text serves as a comprehensive guide for students taking a first level course in the subject. Featuring clean, uncluttered prose and a wealth of immensely practical examples, this edition brings the book completely up to date with the provisions of the Finance Act 2015. Comprehensively updated to reflect the Finance Act 2015, including: This book will be of value to both undergraduate and professional students of business and accounting, and will be particularly useful for students preparing for the following examinations: ICAEW Profes

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Book SynopsisAn essential guide that will help you minimise your tax bill and maximise your after-tax earnings In 101 Ways to Save Money On Your Tax Legally! 20242025, bestselling author Adrian Raftery aka Mr. Taxman shows you how to lower your tax bill and keep more of your hard-earned money. You'll learn what's different this year in the tax codes and how the May 2024 budget and Stage 3 tax cuts affect your bottom line. Get the most out of your taxable assets and (legally!) reduce your taxes. 101 Ways to Save Money On Your Tax Legally!makes it easy to find and implement every deduction that applies to you. This handy guide, trusted by tens of thousands of Australians, takes the stress and confusion out of the tax season. Find out what you actually owe and lodge on time, with no mistakes. Whether you''re an individual, married couple, investor, business owner or pensioner, this guide will help you: Understand how your taxes have changed

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Book SynopsisThis is the 10th edition of John Tiley’s classic textbook on revenue law, covering the UK tax system, income tax, capital gains tax, inheritance tax and corporation tax, as well as incorporating sections dealing with international and European tax, savings, charities, and - new to this edition - value added tax and stamp duties. The new edition has been comprehensively revised and fully updated with the latest case law, statutory and other developments, including the Finance Act 2021. The book’s companion website provides bonus chapters on investment intermediaries, pensions, charities, and the UK’s value added tax and stamp duties. The companion website will also supply annual updates to the print edition as well as study questions to help students navigate this complex subject. The book is designed for students taking modules in tax law in the final year of their law degree, or for more advanced courses. It is also a valuable resource for academics and professionals in the field. It provides an account of the rules as well as citation of the relevant literature from legal periodicals and some discussion of, or reference to, the background material in terms of policy, history or other countries’ tax systems to give readers a contextual overview of the subject. Accompanying online resources for this title can be found at bloomsbury.pub/tileys-revenue-law. These resources are designed to support teaching and learning when using this textbook and are available at no extra cost.Table of ContentsPART I: INTRODUCTION TO UK TAX LAW 1. Definitions and Theories 2. Jurisdiction: The Taxing Power 3. Sources 4. The Setting of the Tax System 5. Tax Avoidance PART II: INCOME TAX 6. Historical Introduction 7. Income Tax: Basic Concepts 8. The Tax Unit 9. Taxation and Social Security 10. Deductions and Credits for Taxpayer Expenditure and Losses 11. Personal Reliefs and Tax Reductions 12. Calculations 13. Employment Income: Scope and PAYE 14. Employment Income: Emoluments/Earnings 15. Benefits in Kind and the Convertibility Principle 16. The Benefits Code and Exemptions 17. Employee Share Schemes 18. Employment Income: Deductions and Expenses 19. Business Income—Part I: Scope 20. Business Income—Part II: Basis of Assessment and Loss Relief 21. Business Income—Part III: Principles and Receipts 22. Business Income—Part IV: Trading Expenses 23. Business Income—Part V: Timing and Trading Stock (Inventory) 24. Capital Allowances 25. Income from Land in the United Kingdom 26. Savings Income: Interest and Premium, Bond and Discount 27. Miscellaneous Income Including Annual Payments 28. Income Not Otherwise Charged 29. Trusts 30. Death and Estates 31. Income Splitting: Arrangements and Settlements PART III: CAPITAL GAINS TAX 32. Introduction and Policy 33. Structure and Elements 34. Assets 35. Disposals: (1) General 36. Disposals: (2) Gifts, Bargains Not at Arm’s Length and Other Gratuitous Transactions 37. Leases 38. Options 39. Death 40. Trusts 41. Shares, Securities and Other Fungible Assets 42. Capital Gains Tax and Business 43. Computation of Gains PART IV: INHERITANCE TAX 44. Inheritance Tax: Introduction 45. Transfers of Value by Disposition 46. Death 47. Gifts with Reservation 48. Settled Property: Introduction 49. Trusts with Interests in Possession 50. Relevant Property Trusts with No Qualifying Interest in Possession 51. Favoured Trusts 52. Companies 53. Exempt Transfers: Conditions and Allocation Where Partly Exempt 54. Particular Types of Property 55. Valuation: Rules, Charges and Reliefs 56. Accountability and Administration 57. Incidence of Tax 58. International PART V: CORPORATION TAX 59. Corporation Tax—Introduction, History and Policy 60. Structure 61. Distributions 62. Computation (1): General Rules 63. Computation (2): Accounting-based Rules for Specific Transactions 64. Groups and Consortium Companies: General 65. Control, Groups and Consortium Companies: Capital Gains 66. Exempt Distributions: Demergers 67. Close Companies 68. Anti-avoidance: Special Provisions PART VI: INTERNATIONAL AND EUROPEAN UNION TAX 69. International Tax: Introduction and Connecting Factors 70. Enforcement of Foreign Revenue Laws 71. UK Residents and Foreign Income 72. Source: The Non-resident and the UK Tax System 73. Controlled Foreign Companies 74. Capital Gains 75. Unilateral Relief Against Double Taxation 76. Double Taxation: UK Treaty Relief 77. European Union Tax Law Bonus chapters – available on Companion Website: PART VII: TAX-PREFERRED SAVINGS AND CHARITIES 78. Favoured Methods 79. Investment Intermediaries 80. Pensions 81. Charities 82. Value Added Tax and Stamp Duties

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Book SynopsisThe art avengers...took on toxic debt culture – and won the Guardian These artists want to blow up the whole financial system The New York Times Meet the Bonnie and Clyde of bad debt! When art meets finance, 'The Big Bang' takes on a whole new meaning. This is brilliant performative protest. Kate Raworth, author of Doughnut Economics Bank Job is a white-knuckle ride into the dark heart of the global financial system. Artist and filmmaker duo Hilary Powell and Dan Edelstyn discover that behind the opaque language of loans and the defunct diagrams of money and debt is a system flawed by design and ripe for hacking. They assemble a team and bring a community together by printing their own money in a disused bank in East London, in order to buy up and abolish local debt. Part daring tale, part personal memoir and part economic education, this book is perfect for fans of Grace Blakely and David Graeber. Bank Job shows how the financial system can be changed to meet the needs of the many, not just the few one bank job at a time.Trade Review‘When art meets finance, “The Big Bang” takes on a whole new meaning. This is brilliant performative protest.’—Kate Raworth, author of Doughnut Economics‘Banks rob us blind every day, and so Powell and Edelstyn started one that did exactly the opposite. It became a truly great work of art, and this book is a remarkable record of what we should learn from their achievement about the urgent need for debt abolition and peoples’ financing.’—Andrew Ross, author of Creditocracy: And the Case for Debt Refusal‘Hilary and Dan are the Bonnie and Clyde of renegade economics, bringing a deeply imaginative, beautiful, rebel swagger to staid debate about debt. I love absolutely everything about Bank Job: its persistence, its guts, its compassion, its attention to detail and beauty. My visit to the Bank will stay with me always, and the ripples from this brave and brilliant project have only just begun.’—Rob Hopkins, founder, Transition movement; author of From What Is to What If ‘In the adventure Dan and Hilary take us on, we see the antiquated architecture of the financial system for what it is and are motivated to join in with them to pull it down so that a new system can be built to meet the great challenges of the 21st century – earth-systems breakdown and obscene levels of inequality. This is a timely book, written with passion and verve, that shows how political will, creativity and the arts were deployed to transform the lives of debtors. Dan and Hilary’s lived experience will inspire and strengthen the global movement for economic and ecological justice.’—Ann Pettifor, author of The Case for The Green New Deal‘I can’t think of any more exciting exposé of the role of debt in blighting people’s lives than this book. As the spectre of debt looms over us in all its forms, from personal to sovereign debt, this book couldn’t be more timely. As establishment politicians seek to load the economic burden of the pandemic onto people’s shoulders across the globe, this exhilarating tale inspires the resistance we desperately need.’—John McDonnell, MP and former Shadow Chancellor‘We’re all going around feeling something is wrong but it often ends up veering off in reactionary directions. I think this is wonderful because it marshals that sense of unease and builds it into a community and I love the way you are using it to create ties with each other and cancel debt and expose the sheer hypocrisy of the morality of debt.’—David Graeber, anthropologist and author of Bullshit Jobs and Debt: The First 5,000 Years‘Art pirates, debt destroyers and dreamers for a new economy unite! Hilary and Dan show us how the power of creativity can be a catalyst for grassroots activism when we need it the most. This book will be treasured by all those who are convinced that the radical imagination can triumph against capitalism.’—Max Haiven, Canada Research Chair in Culture, Media and Social Justice; author of Revenge Capitalism and Art After Money, Money After Art‘The UK economy is weighed down by billions of pounds worth of unpayable debt – much of it owed by low-income households struggling to get by. With the COVID-19 pandemic slashing people’s incomes – after a decade of wage stagnation – many households are now on the brink of default, even as the government pumps unprecedented sums of money into our financial system. Bank Job is a vivid portrait of the UK’s debt crisis, which also answers the question as to what we should do with all this debt: blow it up!’—Grace Blakeley, author of Stolen: How to Save the World from Financialisation‘One of the greatest obstacles to change is our inability to believe in or visualise the world being different. That’s where the creative activists and film makers Hilary Powell and Daniel Edelstyn succeed. Their work rips the veil from a banking and financial system which has normalised economic deception and destructive and irresponsible gambling on a vast scale. More than a simple exposé of the ludicrous rewards going to handful of speculators for risking other people’s money, Bank Job shows how a community can come together to reimagine the economy to meets their own needs.’—Andrew Simms, author, co-director of New Weather Institute, coordinator of Rapid Transition Alliance‘They didn’t just blow the bl**dy doors off: the whole van went up, and with it, the full sorry story of debt and its stranglehold on ordinary lives across the world. While countries and corporations wallow in the red, it’s a black day indeed for millions when the balance of payments tips against them. Now, Powell and Edelstyn, the Thelma and Louise of finance hacking, deliver a rock n’ roll history of where it all went wrong, and how it can start to go right. We all owe them a debt of gratitude for the cunning collaborative creativity of their project, but it’s not over yet. Much more action is needed, and Bank Job gives you all the tools to finish what they started. Right here’s where we start paying . . . in sweat! Keep the engine running, we’re going in. . . .’—Gareth Evans, producer, Patience after Sebald

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Book SynopsisSocially responsible investment arises from the integration of environmental, social and governance criteria in investment decisions and the implementation of sustainable finance. As the impact of COVID-19 continues to be navigated, Responsible Investment Around the World considers economic recovery undertaken in different regions around the world. Financing policies and investment solutions are proposed that can responsibly help address the world’s most pressing issues – in climate change, social injustice, and access to healthcare. Paving the way for responsible investment towards creating a fairer and more equitable society, Julia M. Puaschunder offers a comparative approach that takes into account both law and economics to understand the most contemporary global international finance and responsible investment trends. The interdisciplinary nature of Responsible Investment Around the World appeals to academics and scholars, investors, business leaders, healthcare practitioners and NGOs. Tangible examples of successful responsible investment and financial solutions to solve worldwide predicaments make the book highly applicable to everyday finance and economics practice with real-world relevance.Table of ContentsChapter 1. Introduction Chapter 2. Responsibility Chapter 3. Discussion and Future Prospect Chapter 4. Conclusion

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Book SynopsisClimate scientists have determined that we must act now to prevent an irreversible and catastrophic climatic tipping point, beyond which neither our own nor many other species can be assumed likely to survive. On the way to that bleak ending, moreover, extreme socio-economic injustice and associated political breakdown—now well underway in nations already hard-hit by environmental crisis—can be expected to hasten as well. The time has thus come to plan carefully, thoroughly, and on a scale commensurate with the crisis we face. This book, written by one of the key architects of the Green New Deal and prefaced by Representative Alexandria Ocasio-Cortez's former Chief of Staff, indicates how to structure Green New Deal finance in a manner that advances the cross-cutting goals of maximum financial and economic inclusion, maximally democratic decision-making, and an appropriate division of roles both among all levels of government and among public and private sector decision-makers. Integrating into one complete and coherent financial architecture such bold ideas as a 'People's Fed,' an interdepartmental National Investment Council, integrated state and regional public banks, a Democratic Digital Dollar and digital Taxpayer Savings and Transaction Accounts made part of the monetary policy transmission belt, and an economy-wide Price Stabilization Fund, this book is critical reading for policymakers and citizens looking for a fresh path forward towards a revived and sustainable, progressive and productive America.Table of Contents The Green New Deal in Brief Outline What a Green New Deal Finance Plan Must Do A Green New Deal Financial Architecture Comparison to Lesser Alternatives

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Book SynopsisThis book discusses local area planning in the Lombardy region of Italy. The book provides valuable insights about the development of local welfare systems and the territorial organization of social services through the analysis of the evolution of the Local Area Plan, which lies at the intersection of sub regional governance and of social services delivery models. Using Lombardy as a case study, this brief analyzes the structural conditions influencing the establishment of Local Area Plans, their effect on inter-municipal cooperation, and the need for possible reforms. The book is organized as follows: the first chapter presents a reconstruction of the national and regional framework, analyzing the structure of ties and opportunities within which Local Area Plans are called to act. The second chapter provides a review of the extant literature on Local Area Plans and introduces the theoretical framework used by the volume. The third chapter details legislation introduced in Lombardy to reform the governance structure of Local Area Plans by supporting a process of reorganization and aggregation. The fourth chapter presents some cases of Local Area Plan aggregation. The final chapter presents the conclusion and some brief considerations about the future of social planning. Providing an empirical analysis of local service delivery, this book will be useful to scholars and practitioners interested in public administration, welfare, local government, non-profit and public organizations, and management.Table of ContentsChapter 1: Introduction.- Chapter 2: The structuration of the Italian welfare system: from fragmentation to innovation.- Chapter 3: A (possible) answer to fragmentation in social assistance policy. The Local Area Plan.- Chapter 4: Redesigning territorialisation to improve planning and management capabilities in social assistance. Change or business as usual.- Chapter 5: The difficult path towards change.- Chapter 6: The road towards the new planning phase (2021-2023). Challenges and opportunities.

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Book SynopsisThis timely reference analyzes the rationale, impact, and feasibility of taxation of sugar-sweetened beverages (SSBs) as a public health measure to contribute curbing obesity and diabetes rates, specifically in Canada. It presents the pros and cons of taxing soda, with the latest data on adverse health effects of its consumption, plus the various business and political issues surrounding the contentious proposition. Reviewed research is multidisciplinary, spanning health and medicine to ethics, economics, and law. Conclusions and caveats are clear and presented at a comfort level for the general reader. The result is a blueprint for analyzing the relevancy of taxes on sweetened soft drinks or other low-nutrition food products, plus a trove of valuable insights into aspects of government decision-making and consumer food behavior. Included in the coverage: · Reasons for specifically targeting SSBs · SSB taxation as a public health policy instrument · Effects of SSB taxation on energy intakes and population health · Potential undesirable effects relating to SSB taxation · Social and political acceptability of SSB taxation · Evaluability of SSB taxation Taxing Soda for Public Health will interest policymakers, public health professionals, advocacy groups, and researchers at the Canadian and international levels (e.g., in areas such as public health, nutrition, food and health policies, health economics, and evaluation), as well as students and all other parties interested in nutrition policies.Table of ContentsSummary1. Introduction2. Methods2.1 Theoretical basis2.2 A 'realist' review of evidence2.3 Data collection2.4 Data analysis3. Why - Rationale3.1 Reasons for targeting specifically SSB (sugar sweetened beverages) 3.1.1 SSB and health risks 3.1.2 SSB consumption and marketing trends 3.1.3 Considerations on some other non-alcoholic beverages 3.1.4 Concluding comments3.2 Merits of SSB taxation as a public health policy instrument 3.2.1 Price, a key determinant of food habits 3.2.2 Taxing SSB as part of a comprehensive strategy 3.2.3 Learning from tobacco taxation 3.2.4 Taxation, a highly cost-effective option 3.2.5 Concluding comments3.3 Economic rationale for taxation and ethical concerns 3.3.1 Economic debates about the normative justification of SSB taxation 3.3.2 Ethical concerns surrounding freedom of choice and autonomy 3.3.3 Concluding comments3.4 Clarifying SSB taxation logics4. What - Impact4.1 Tax effects on SSB prices 4.1.1 Factors that may impair SSB tax shift onto prices 4.1.2 Empirical evidence 4.1.3 Additional proposals to secure the pass-through 4.1.4 Concluding comments4.2 Tax effects on SSB demand 4.2.1 Findings from experimental studies 4.2.2 Factors that may impair tax effects on demand in the 'real world' 4.2.3 'Real-world' price-elasticity of SSB demand 4.2.4 Preliminary evidence from taxes implemented across the world 4.2.5 May we miss our core target? 4.2.6 Concluding comments4.3 Tax effects on energy intakes and population health 4.3.1 Overview of substitution concerns 4.3.2 Results from public health modeling studies 4.3.3 Results from economics modeling studies 4.3.4 Preliminary evidence from taxes implemented across the world 4.3.5 Concluding comments4.4 Potential inequities related to SSB taxation 4.4.1 Distribution of changes in SSB intakes 4.4.2 Distribution of the financial contribution to tax revenues  4.4.3 Distribution of effects according to SSB consumption levels 4.4.4 Equity concerns and acceptability of SSB taxation 4.4.5 Concluding comments4.5 Potential undesirable effects related to SSB taxation 4.5.1 Tax-related administration costs for industries 4.5.2 Tax impact on profitability 4.5.3 Tax impact on employment 4.5.4 Tax impact on investments 4.5.5 Tax impact on competitiveness 4.5.6 Tax impact on cross-border trade 4.5.7 Concluding comments4.6 Raising fiscal revenues from SSB taxation 4.6.1 Confidence and estimations 4.6.2 Justification for targeting SSB specifically 4.6.3 Pursuing both fiscal and behavioural logics may be paradoxical 4.6.4 The importance of earmarking tax revenues to health promotion 4.6.5 Concluding comments4.7 Potential 'signal' effects from SSB taxation 4.7.1 An 'alarm-signal' to the population 4.7.2 A 'coercive signal' to manufacturers 4.7.3 Arguments for a comprehensive 'de-normalization' strategy 4.7.4 The complex evaluation of signal effects 4.7.5 Concluding comments5. How - Applicability5.1 Legal and administrative feasibility 5.1.1 The complexity of sweetener inputs' taxation 5.1.2 Excise taxes commonly preferred to sales taxes 5.1.3 How feasible is it to rely on sales and/or excise SSB taxes in Canada? 5.1.4 Concerns on the scope of the tax and its rate 5.1.5 Concluding comments5.2 Social and political acceptability 5.2.1 International perspective 5.2.2 Canadian experts 5.2.3 Canadian civil society 5.2.4 Canadian elected representatives 5.2.5 Canadian public opinion 5.2.6 Importance of a constructive dialogue 5.2.7 Concluding comments5.3 Evaluability 5.3.1 Importance of SSB taxation evaluation 5.3.2 Evaluation of a price-induced behavioural logic 5.3.3 Evaluation of a fiscal logic 5.3.4 Evaluation of a signal-induced de-normalization logic  5.3.5 The challenge of robust economic evaluations 5.3.6 Concluding comments6. Discussion6.1 Proposal of a multi-dimensional evidence-based framework6.2 Conclusion7. Bibliography

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Book SynopsisTwo economists take readers on a tour of the economics of legal and illegal weed, showing where cannabis regulation has gone wrong and how it could do better. Cannabis legalization hasn't lived up to the hype. Across North America, investors are reeling, tax collections are below projections, and people are pointing fingers. On the business side, companies have shut down, farms have failed, workers have lost their jobs, and consumers face high prices. Why has legal weed failed to deliver on many of its promises?Can Legal Weed Win? takes on the euphoric claims with straight dope and a full dose of economic reality. This book delivers the unadulterated facts about the new legal segment of one of the world's oldest industries. In witty, accessible prose, economists Robin Goldstein and Daniel Sumner take readers on a whirlwind tour of the economic past, present, and future of legal and illegal weed. Drawing upon reams of data and their own experience working with California cannabis Trade Review"In this lucid and pragmatic analysis, U.C. Davis economists Goldstein and Summer extinguish overheated predictions about the potential size and profits of the legal marijuana market. . . . Jargon-free and data-rich, this is a clear-eyed analysis of a hazy market." * Publishers Weekly *“Economists Goldstein and Sumner argue that government bureaucracy has made legal pot expensive to grow and sell, incentivizing illegal operations instead. Legal weed, their punny, breezy book shows, can only win once 'legal' isn’t an anticompetitive word.” * Bloomberg Businessweek *"An excellent primer on the state of the cannabis industry in America today." * Jacobin *"Explains how burdensome licensing requirements, regulations, and taxes have frustrated plans to displace the black market." * Reason *"Written in a fun, witty tone that makes reading about finances more engaging than ever." * CBD Oracle *Table of ContentsContents Preface: Fear and Stoning in Las Vegas Acknowledgments 1 We Call It Weed 2 Legal versus Illegal: A Market Battle 3 Prices Get High 4 We Ask Our Data: Where’s the Cheapest Legal Weed? 5 California Dreamin’ 6 Sabrina’s Story 7 Legal Weed in 2050 8 How to Survive Legalization Conclusion: Five Pipe Dreams about Legal Weed Bibliography Index

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Book SynopsisTrade Review"The core of this book is a collection of intellectual theories and mathematical models that ignore many key elements of the modern political process. Abstract models can tell little about the role lobbyists play in shoveling millions of dollars into political campaigns. To his credit, Bueno de Mesquita does an excellent job of explaining these models, which play an important role in political policy today."--ChoiceTable of Contents*Frontmatter, pg. i*Summary of Contents, pg. vii*Policy Applications, pg. xvii*Preface, pg. xix*Introduction, pg. 1*1. Normative Frameworks, pg. 11*2. Collective Goals, pg. 51*3. Pareto Concepts, pg. 74*Summing Up Normative Foundations, pg. 95*4. Externalities, pg. 97*5. Coordination Problems, pg. 150*6. Commitment Problems, pg. 173*Summing Up Social Dilemmas, pg. 191*7. Strategic Adjustment, pg. 193*8. Dynamic Inconsistency, pg. 218*9. The Need for Information, pg. 244*10. Influence over Elected Officials, pg. 282*11. Institutions, Incentives, and Power, pg. 305*Summing Up Constraints on Good Governance, pg. 328*Concluding Reflections on Politics and Policy, pg. 331*A. Utility, Strategic-Form Games, and Nash Equilibrium, pg. 335*B. Extensive-Form Games, pg. 362*Bibliography, pg. 385*Index of Referenced Authors, pg. 393*General Index, pg. 396

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Book SynopsisFrom his birth into the lowest stratum of the samurai class to his assassination by right-wing militarists, Takahashi Korekiyo (1854–1936) lived through tumultuous times that shaped the course of modern Japan. This biography underscores the profound influence of the charismatic finance minister on the political and economic development of Japan.Trade ReviewJapan emerged from worldwide economic depression in the 1930s more successfully and quickly than the other modern world economies. Without denying the role of rapid militarization in prompting economic growth, this new biography of Japan's seven-time finance minister shows how Takahashi's countercyclical fiscal and monetary policies overcame a steep deflationary spiral and in the process engineered a remarkable record of growth built on a novel deficit spending approach...In telling Takahashi's story, Smethurst uncovers some of the pushes and pulls shaping Japan's modem economic growth, and it is a story he tells well. -- W. D. Kinzley * Choice *Smethurst's biography is a major achievement reflecting some 20 years of work. Not to exclude the general reader--the book is a very good read--Takahashi's biography should interest not only Japanologists, but also students of economic history everywhere. Smethurst admits that it was difficult to balance the anecdotes of Takahashi's adventures with the necessary analysis of his historic accomplishments. He has succeeded, giving us a wise and immensely competent biography of a great Japanese and a vibrant human being. -- Rod Armstrong * Asahi Shimbun *Table of ContentsIntroduction 1. A Remarkable Beginning, 1854-67 2. Takahashi in San Francisco, 1867-68 3. Many Mentors, Few Teachers: Takahashi's Career in and out of Government, 1869-81 4. Japan's First Trademark and Patent Laws, 1881-89 5. Maeda Masana and the Debate over Industrial Policy, 1882-85 6. Managing a Silver Mine in Peru, 1889-90 7. Entering the Bank of Japan, 1892-1904 8. Fundraising During the Russo-Japanese War: 1904 9. Fundraising During the Russo-Japanese War: 1905 10. The Lessons of Wars, 1906-18 11. Taisho Democracy, 1918-27 12. "Japan's Keynes": Japan and the World Depression, 1929-34 13. Takahasi's Fiscal Policies and the Rise of Militarism, 1932-36 Conclusion: Takahashi's Economic Philosophy and Its Roots Appendix: Takahashi's Memoirs Notes Works Cited Index

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Book SynopsisTrade ReviewWinner of the 2017 PROSE Award in Economics, Association of American Publishers Selected for Canada's Financial Post Best Personal Finance and Economics Books of 2016 One of Bloomberg's Best Books of 2016 One of Financial Times (FT.com) Best Economics Books of 2016 Longlisted for the Financial Times and McKinsey Business Book of the Year 2016 "In a brilliant and lucid new book, The Curse of Cash, the Harvard economist Kenneth Rogoff gives a fascinating and thorough account of the argument against cash."--John Lanchester, New York Times Magazine "An excellent book on the history and the origins of cash, which also goes into much depth on the issue of cash constraining monetary policy."--Jon Hartley, Forbes.com "The great accomplishment of his book is that his arguments are convincing... It's clear and coherent, and even if you disagree with him in the end, chances are you'll think a little bit differently about something of which most of us give no thought whatsoever."--Bethany McLean, Washington Post "Convincing... It's clear and coherent, and even if you disagree with Rogoff in the end, chances are you'll think a little bit differently about something to which most of us give no thought whatsoever."--Bethany McLean, Washington Post "[A] fascinating economic manifesto... [An] absorbing exploration of the uses, and misuses, of currency, and its intractability in controlling modern economies."--Publishers Weekly "Economist Rogoff, the former chief economist of the International Monetary Fund, offers a detailed case for eliminating paper money... For both the elimination of paper money and the employment of negative interest rates to combat deflationary recessions, Rogoff painstakingly presents both the advantages and the drawbacks... Provocative."--Library Journal "In a witty new book, The Curse of Cash, economist Kenneth Rogoff argues the human race would be better off without paper money. He's onto something."--Hiawatha Bray, Boston Globe "[The Curse of Cash] makes the case for encouraging the U.S. government to drastically scale back on $100 bills in circulation. The book ... offers a thought-provoking theory for phasing out paper money, not eliminating it."--Susan Tompor, Detroit Free Press "Meticulously written, [The Curse of Cash] covers everything needed for such a monetary reform. But the book is not excessively polemical. Rogoff details almost all the arguments against tinkering with paper currency, then labors to refute or defuse them."--Peter Garber, Finance & Development "Rogoff is always worth listening to... Where Rogoff is on very solid ground is when he says the process of weaning us further off cash should begin with the abolition of high-denomination notes."--David Smith, Sunday Times "Rogoff is always worth listening to... [He] is on very solid ground ... when he says the process of weaning us further off cash should begin with the abolition of high-denomination notes."--David Smith, Sunday Times "Rogoff makes a compelling case for the crime-fighting power of his idea."--David Nicklaus, St. Louis Post Dispatch "[Rogoff] understands that getting rid of cash ... is not exactly an easy sell. So Rogoff builds the case against cash, loading up on all the things wrong with paper money... Rogoff's case against cash is so cogently argued that it's hard to believe that we haven't already gotten rid of paper bills and coins--or at least larger bills."--Mark Gimein, Strategy+Business.com "An illuminating, provocative and fact-packed work that does make you wonder why on earth we allow so much cash to slosh around. It also exposes some well-worn pub truths as urban myths."--Patrick Hosking, The Times "An illuminating, provocative and fact-packed work that does make you wonder why on earth we allow so much cash to slosh around."--Patrick Hosking, The Times "Ken Rogoff, the Harvard economist, who argues in [his] new book that we should start to phase out cash is, for me, on the money."--Ben Chu, Independent "This book is a rare bird indeed: accessible, absorbing and often deadpan funny."--Brian Bethune, Maclean's "[The Curse of Cash] is a fascinating contribution to the debate about what might be done to help get many wealthy countries out of an economic funk."--Clancy Yeates, Sydney Morning Herald "Lively and clearly written."--Geoffrey Wood, Central Banking Journal "Recommended for readers who seek a greater understanding of negative interest rates and the possibility of eliminating cash."--Choice "You may not have any in your wallet, but $100 bills make up an astonishing 80 percent of the U.S. currency in circulation. In his new book, The Curse of Cash, Kenneth Rogoff ... proposes a plan to phase out most paper currency in the United States and other economically advanced nations, keeping only low-denomination notes to create what he terms a 'less-cash' society."--MIT Technology Review "Like a chess player playing many opponents simultaneously, Rogoff views 'the curse of cash' through several prisms, and offers a compelling rationale of the merits of a 'less cash' economy."--Venky Vembu, The Hindu "The Curse of Cash is a well-argued book and Rogoff is a good economist."--Pierre Lemieux, RegulationTable of ContentsPreface ix 1 Introduction and Overview 1 PART I: The Dark Side of Paper Currency: Tax and Regulatory Evasion, Crime, and Security Issues 2 The Early Development of Coins and Paper Currency 15 3 Size and Composition of Global Currency Supplies, and the Share Held Abroad 31 4 Holdings of Currency in the Domestic, Legal, Tax-Paying Economy 48 5 Currency Demand in the Underground Economy 58 6 Seigniorage 80 7 A Plan for Phasing Out Most Paper Currency 92 PART II: Negative Interest Rates 8 The Cost of the Zero Bound Constraint 119 9 Higher Inflation Targets, Nominal GDP, Escape Clauses, and Fiscal Policy 147 10 Other Paths to Negative Interest Rates 158 11 Other Possible Downsides to Negative Nominal Policy Rates 175 12 Negative Interest Rates as a Violation of Trust and a Step Away from Rule-Based Systems 182 PART III: International Dimensions and Digital Currencies 13 International Dimensions to Phasing Out Paper Currency 199 14 Digital Currencies and Gold 208 Afterword to the Paperback Edition 217 Final Thoughts 237 Acknowledgments 241 Appendix 245 Notes 253 References 277 Index 293

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Book SynopsisTrade Review"Few scholarly, well-researched books have been written on long-term private investing. Victoria Ivashina and Josh Lerner have undertaken a real public service in writing what will undoubtedly become the definitive book on the subject. My only regret in reading this book is that I did not write it."—David Rubenstein, Co-Founder and Co-Executive Chairman, The Carlyle Group "You may not think your life depends on long-term investors, but it does—the health of your company's pension plan, your state or country's social security fund, indeed the very comfort of your retirement, depends on the success of long-term investing. In this very readable book, Ivashina and Lerner, two of the foremost experts on the subject, tell you what is going wrong, and how to set it right. It is a must-read for every anxious investor and every concerned taxpayer."—Raghuram Rajan, University of Chicago" 'The trees that are slowest to grow bear the best fruit,' Molière says. And that is why this lucid and refreshing account of how to overcome the barriers to long-term investment deserves the attention of pension funds, insurers, sovereign wealth funds, and endowments. After all, the potential fruits are not just quality returns, but significant benefits to society."—Dominique Senequier, President, Ardian"The antidote for short-term horizons in public markets is long-term investment in private markets. In Patient Capital, Ivashina and Lerner survey the private equity world, employing an engaging combination of captivating anecdotes and solid academic research. A must-read for all who care about the future of capitalism."—David F. Swensen, Chief Investment Officer, Yale University“This book provides a thorough and thoughtful analysis of the role that patient, long-term capital plays in the economy. Ivashina and Lerner do a wonderful job of combining clear and intuitive explanations with entertaining anecdotes that keep the reader’s attention and make it easier to understand the underlying ideas. At every point their in-depth knowledge shines through and makes for a very enjoyable read.”—Antoinette Schoar, MIT Sloan School of Management“Patient Capital is a compelling and thought-provoking book about an important but poorly understood aspect of finance—the role of long‐term investors in our capital markets. It will appeal to finance scholars; those who work for pension funds, endowments, insurance companies, sovereign wealth funds, and the venture capital and private equity industries; and entrepreneurs who rely on them for financing.”—Jeffrey R. Brown, Dean of the University of Illinois’s Gies College of Business and Investment Committee Chair for TIAA

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Book SynopsisTrade ReviewWinner of the 2017 PROSE Award in Economics, Association of American Publishers Selected for Canada's Financial Post Best Personal Finance and Economics Books of 2016 One of Financial Times (FT.com) Best Economics Books of 2016 One of Bloomberg's Best Books of 2016 Longlisted for the Financial Times and McKinsey Business Book of the Year 2016 "In a brilliant and lucid new book, The Curse of Cash, the Harvard economist Kenneth Rogoff gives a fascinating and thorough account of the argument against cash."--John Lanchester, New York Times Magazine "An excellent book on the history and the origins of cash, which also goes into much depth on the issue of cash constraining monetary policy."--Jon Hartley, Forbes.com "The great accomplishment of his book is that his arguments are convincing... It's clear and coherent, and even if you disagree with him in the end, chances are you'll think a little bit differently about something of which most of us give no thought whatsoever."--Bethany McLean, Washington Post "[A] fascinating economic manifesto... [The Curse of Cash] is an absorbing exploration of the uses, and misuses, of currency, and its intractability in controlling modern economies."--Publishers Weekly "Economist Rogoff, the former chief economist of the International Monetary Fund, offers a detailed case for eliminating paper money... For both the elimination of paper money and the employment of negative interest rates to combat deflationary recessions, Rogoff painstakingly presents both the advantages and the drawbacks... Provocative."--Library Journal "In a witty new book, The Curse of Cash, economist Kenneth Rogoff argues the human race would be better off without paper money. He's onto something."--Hiawatha Bray, Boston Globe "[The Curse of Cash] makes the case for encouraging the U.S. government to drastically scale back on $100 bills in circulation. The book ... offers a thought-provoking theory for phasing out paper money, not eliminating it."--Susan Tompor, Detroit Free Press "Meticulously written, [The Curse of Cash] covers everything needed for such a monetary reform. But the book is not excessively polemical. Rogoff details almost all the arguments against tinkering with paper currency, then labors to refute or defuse them."--Peter Garber, Finance & Development "Rogoff is always worth listening to... Where Rogoff is on very solid ground is when he says the process of weaning us further off cash should begin with the abolition of high-denomination notes."--David Smith, Sunday Times "Rogoff makes a compelling case for the crime-fighting power of his idea."--David Nicklaus, St. Louis Post Dispatch "[Rogoff] understands that getting rid of cash ... is not exactly an easy sell. So Rogoff builds the case against cash, loading up on all the things wrong with paper money... Rogoff's case against cash is so cogently argued that it's hard to believe that we haven't already gotten rid of paper bills and coins--or at least larger bills."--Mark Gimein, Strategy+Business.com "An illuminating, provocative and fact-packed work that does make you wonder why on earth we allow so much cash to slosh around. It also exposes some well-worn pub truths as urban myths."--Patrick Hosking, The Times "Ken Rogoff, the Harvard economist, who argues in [his] new book that we should start to phase out cash is, for me, on the money."--Ben Chu, Independent "This book is a rare bird indeed: accessible, absorbing and often deadpan funny."--Brian Bethune, Maclean's "The idea is not as crazy as it may sound. In a recent book, The Curse of Cash, Rogoff, says boring old paper (or plastic, in our case) bank notes are a major barrier to monetary policy--changing interest rates--fulfilling its potential. The book ... is a fascinating contribution to the debate about what might be done to help get many wealthy countries out of an economic funk."--Clancy Yeates, Sydney Morning Herald "[The Curse of Cash] is a fascinating contribution to the debate about what might be done to help get many wealthy countries out of an economic funk."--Clancy Yeates, Sydney Morning Herald "Lively and clearly written."--Geoffrey Wood, Central Banking Journal "Recommended for readers who seek a greater understanding of negative interest rates and the possibility of eliminating cash."--Choice "You may not have any in your wallet, but $100 bills make up an astonishing 80 percent of the U.S. currency in circulation. In his new book, The Curse of Cash, Kenneth Rogoff ... proposes a plan to phase out most paper currency in the United States and other economically advanced nations, keeping only low-denomination notes to create what he terms a 'less-cash' society."--MIT Technology Review "Like a chess player playing many opponents simultaneously, Rogoff views 'the curse of cash' through several prisms, and offers a compelling rationale of the merits of a 'less cash' economy."--Venky Vembu, The Hindu "The Curse of Cash is a well-argued book and Rogoff is a good economist."--Pierre Lemieux, Regulation,Table of ContentsPreface ix Chapter 1: Introduction and Overview 1 PART I: The Dark Side of Paper Currency: Tax and Regulatory Evasion, Crime, and Security Issues Chapter 2: The Early Development of Coins and Paper Currency 15 Chapter 3: Size and Composition of Global Currency Supplies, and the Share Held Abroad 31 Chapter 4: Holdings of Currency in the Domestic, Legal, Tax-Paying Economy 48 Chapter 5: Currency Demand in the Underground Economy 58 Chapter 6: Seigniorage 80 Chapter 7: A Plan for Phasing Out Most Paper Currency 92 PART II: Negative Interest Rates Chapter 8: The Cost of the Zero Bound Constraint 119 Chapter 9: Higher Inflation Targets, Nominal GDP, Escape Clauses, and Fiscal Policy 147 Chapter 10: Other Paths to Negative Interest Rates 158 Chapter 11: Other Possible Downsides to Negative Nominal Policy Rates 175 Chapter 12: Negative Interest Rates as a Violation of Trust and a Step Away from Rule-Based Systems 182 PART III: International Dimensions and Digital Currencies Chapter 13: International Dimensions to Phasing Out Paper Currency 199 Chapter 14: Digital Currencies and Gold 208 Final Thoughts 217 Acknowledgments 221 Appendix 225 Notes 233 References 257 Index 273

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Book SynopsisFinancial regulation has dramatically evolved and strengthened since the crisis on both sides of the Atlantic, with enhanced international coordination through the G-20 and the Financial Stability Board and, at the regional level, a definite contribution from the European Union. However the new regulatory environment has its critics, with many divergent voices arguing that over-regulation has become a root cause of our current economic stagnation.This book provides a bigger picture view of the impact and future of financial regulation in the EU, exploring the relationship between microeconomic incentives and macroeconomic growth, regulation and financial integration, and the changes required in economic policy to further European integration. Bringing together contributions from law, economics and management science, it offers readers an accessible but rigorous understanding of the current state of play of the regulatory environment, and on the future challenges.Coverage will include:• A review of the recent regulatory changes from a legal and economic perspective• Analysis of how the economic model of financial institutions and entities is impacted by the new frameworks• How to improve securitization and new instruments under MIFID II• Issues in the enhanced supervision under delegated acts for AIFMD, CRR-CRD IV and Solvency II• How long term funding can be supplied in lieu of the non-conventional monetary policies• A new architecture for a safer and more efficient European financial system Financial Regulation in the EU provides much needed clarity on the impact of new financial regulation and the future of the economy, and will prove a must have reference for all those working in, researching and affected by these changes.Table of Contents

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Book SynopsisTrade Review"Winner of the Immanuel Wallerstein Memorial Book Award, Political Economy of the World-System Section of the American Sociological Association""Roos has given us a thought-provoking book that will repay the investment of any reader with an interest in sovereign debt."---Michael Reddell, Central Banking Journal"[A] fresh and painstakingly researched approach that raises vital questions for economists, political scientists and policymakers."---Aleksandr V. Gevorkyan, LSE Review of Books"[A] timely and thoroughly researched book—destined to become an obligatory reference in the field."---Veronica Santarosa, Journal of Economic History"[I've] been reading Why Not Default? at an excruciating pace for the best reason: every page or so I get inspired some subtheme or footnote and go off chasing it down."---Quinn Slobodian"Roos makes a powerful and provocative argument." * Survival: Global Politics and Strategy *"A fantastic contribution to the growing literature on sovereign debt. . . . Why Not Default? will be a mandatory reference for scholars working on financialization, debt, and structural power."---José Tomás Labarca, Finance and Society"[Why Not Default?] does a great service . . . by synthesizing a huge amount of detailed information about these crises in one place, and by clarifying the interlocking effects of a host of social, economic and political changes over the past century."---Shaina Potts, Antipode

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Book SynopsisThe public finance branch of economics has seen a great deal of change in prevailing attitudes regarding the role of the market and the role of government in countries with democratic institutions and market economies. Different functions have been added, over the past century, and especially after World War II, to the role that the government should play. The laissez faire ideology of the past, that minimized the government role, was progressively abandoned until the last two decades of the 20th century, when there was an attempt to reduce the ambitious role that the government had assumed, and to give a growing role back to the market. This book explains how changes in both the market and the government have made public finance a more challenging, interesting and at times frustrating branch of economics. It provides a cosmopolitan perspective and details the part that historical developments have played in shaping modern views. The author explores the real life, practical nature of public finance and de-emphasizes the role of armchair theorizing by focusing on real issues that are seen from a community rather than an individualistic perspective. The Advanced Introduction to Public Finance offers a fresh look at the field for students, researchers and policymakers in economics, public administration, taxation, policy and economic history.Trade Review‘The book is successful in presenting the advanced introduction to public finance to all diversified readers in a lucid way because the book focuses on ideas rather than techniques throughout. The author must be congratulated and thanked for this important contribution and Edward Elgar for publishing this book for the benefit of global readers.’ -- M R Narayana, Aarthika Charche'This wonderful book takes the reader through the intricacies of public finance with a simple and yet comprehensive approach. It explains institutional and historical aspects of government intervention in the economy, and it clarifies fundamental concepts in public economics. It reflects the deep knowledge of a leading economist who spent his life studying fiscal policy and advising governments throughout the world.' --Guido Tabellini, Bocconi University, ItalyTable of ContentsContents: Preface Part One: Public Finance Objectives 1. Introduction 2. Why Public Finance? 3. What kind of state is in power? Part Two: Public Finance Instruments and Techniques 4. Government Tools 5. Guiding Tax Principles 6. The Development of Modern Tax Systems 7. Tax Choices and Tax Techniques 8. From Laissez faire To Welfare States 9. On the Growing Use of Regulations 10. Fiscal Deficits and Public Debt 11. Public Spending 12. Fiscal Federalism 13. Concluding Remarks Bibliography Index

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