Search results for ""Edward Elgar""

Insufficient job creation and the decreasing quality of jobs are fundamental social problems throughout the industrialized world. This impressive book uses a multidisciplinary approach to provide an accessible and wide-ranging assessment of the effect of changes in labour market institutions on the creation of jobs.This book brings together a distinguished group of contributors from the fields of economics, management and industrial relations. The authors rigorously examine how labour market institutions shape employment performance and assess issues such as unemployment benefits, job security provisions and collective bargaining. These institutions are found to be key determinants of unemployment rates and other important social and economic indicators such as activity rates, and the share of part-time and short-term contract jobs. The authors also focus on public policy and the reform of current institutions and assess their effect on the adaptation of the labour force to the changing demands of international markets. In particular, several chapters analyse the impact of information technologies on the organization of firms and their internal and external labour markets. Regulatory changes are proposed to facilitate the adjustment and competitiveness of both companies and workers in order to increase the creation of jobs.Job Creation will be required reading for scholars of labour economics, labour markets and public policy as well as practitioners and policymakers.

Read more less

In this accessible yet rigorous textbook, Patrick McNutt presents a clear and refreshing approach to a wide range of topics in law, economics and antitrust. The issues covered include duty and obligation, contracting, liability, property rights, efficient entry, compensation, oligopoly pricing, issues in strategic antitrust and merger analysis. Using a selection of case studies where appropriate, and examples based in game theory, the book examines these issues from both a law and economics and a microeconomics perspective. Emphasis is placed on a thorough assessment of the economic and legal arguments, blending the rigours of microeconomic analysis with common law standards. The analysis contained in the book will not only review, and indeed adapt neoclassical economic analysis but will also apply some of the methodology from the relatively new paradigm known as 'law and economics' to many of the issues. The book also addresses the increasing overlap between emerging approaches in public choice and in law and economics.Practitioners in competition law and regulation of utilities will draw great value from this original and pertinent volume, as will scholars in the areas of regulation, competition law, competition policy and law and economics.

Read more less

Government policies to reduce environmental pollution and global warming are often criticized as damaging to the economy, particularly by reducing international competitiveness. This book addresses the issue by examining many of the policies concerned, and their effects on competitiveness. It demonstrates that well-designed, market-oriented environmental policies may be expected to improve both domestic and international competitiveness.The authors dismiss the fear that environmental policies will damage competitiveness by approaching the issue from four different perspectives: the economic analysis of competitiveness; a geo-economic approach to trade and foreign investment between Europe, NAFTA and Southeast Asia; studies of the effects of environmental policies on competitiveness; and the formal modelling of carbon taxation, international competitiveness and carbon leakage. The book also includes results from a global econometric model on the potential for carbon leakage, a detailed case study of German national policies, an examination of life cycle analysis and competitiveness, and an empirical study of green product development. This book will be of great interest to academics working in the field of environmental economics and researchers involved in environmental policy.

Read more less

The Elgar Companion to Austrian Economics is a major new reference work which highlights the common ground between all the branches of the school while demonstrating the breadth and diversity within it. The Companion reflects the many areas where Austrian economists have made contributions, including technical economics, methodology of the social sciences, political theory and political science. This book includes contributions from an international group of scholars whose work demonstrates a basic similarity and interest in questions which have historically been associated with the Austrian approach to economics, although many of the contributors would not consider themselves to be strictly of this school. The distinguished team of contributors commissioned by the editor includes: K.D. Hoover, I.M. Kirzner, A. Klamer, D. Lavoie, C.K. Rowley, M. Rizzo, M. Rutherford, R.E. Wagner, U. Witt, L. Yeager.Each entry is fully referenced and includes suggestions for further readings on the topic. The Companion will be the standard reference work for all those engaged in the field of Austrian Economics. It not only introduces students to the Austrian school, but also serves as an important research tool for scholars working within the Austrian tradition.

Read more less

In this highly original book, Patrick O'Neil analyses the catalysts of the collapse of socialism in Eastern Europe and offers explanations for these events. The exceptional case of Hungary is used to support theoretical concepts regarding the transition in Eastern Europe using new empirical evidence and institutional theory.The Hungarian transition from communism is distinct in that the Hungarian Socialist Workers' Party was the initiator of its own transition but also acted as its own greatest enemy. This book provides a detailed analysis of the internal reform movement within the Hungarian Communist Party and its role in the incremental transition to democracy in the late 1980s. The author utilises party archives and primary interviews with important figures in the Communist Party to examine the effect of institutional relationships on the collapse of the authoritarian order. He also emphasises the role of reform circles in accelerating the disintegration of the Communist Party in Hungary. The book concludes that the way in which an autocratic order perpetuates itself affects the manner of its decline and the new system that takes its place.This authoritative book will be welcomed by academics and students interested in the politics of transition both in Hungary and Eastern Europe and the politics of the demise of communism in general.

Read more less

Money and Banking provides an original and comprehensive interpretation of the debate on banking and the nature of money in Keynes's time from a post Keynesian point of view. The book traces the pre-history of monetary circuit theory and its challenge to mainstream analysis in the first four decades of the century, contrasting the neoclassical approach with the monetary theory of production. The author comprehensively examines and reconstructs the contributions of both well-known and more neglected authors to the debate on the nature of money and the function of the banks, from the viewpoint of a circuit theorist. He concludes with a comprehensive account of heterodox analyses of the creation of money by banks, beginning with Wicksell and ending with British and American proponents of 'free banking'.

Read more less

This volume focuses on the crucial economic, political and legal aspects of global trading arrangements in the current transitional stage of the integration process. It provides an evaluation of the deepening and widening of the integration process, and places particular emphasis on the contentious issues which arise in the process of integrating previously unequal partners.Nations are contemplating taking part in various integration initiatives and schemes for a variety of purposes. They anticipate discernible improvements in the well-being of their citizens - that is, a rise in living standards resulting from closer economic integration. The international diverse group of authors begins by examining the general issues confronted by countries engaging in various levels of integration. They then go on to discuss theoretical and empirical studies of the implications of economic integration on welfare and public policy. It specifically addresses issues such as the impact on industry in participating countries and the effects of NAFTA on Mexico.This book will be welcomed by practitioners, academics and students interested in economic integration, international economics, political science and international business.

Read more less

In the age of globalization, the importance of migration for the industrialized countries has increased. Inflows of migrants have steadily risen in the 1980s and the early 1990s. Yet while the public debate about policy responses to these developments continues unabated, research findings of economists are often ignored. In this four-volume collection the editors have selected some of the most significant contributions on the economics of migration, which provide an overview of the present state of empirical migration research. Topics covered include the migration decision, the integration of immigrants into the labor market and society, their economic behavior, empirical and theoretical contributions to migration policy, and the effects of immigrants on the native population.

Read more less

This book is an authoritative collection of the most important published articles on key issues in securities markets including market design, the sources of the bid ask spread, and the short term movement of prices. The articles trace the development of this relatively new field of market microstructure while at the same time reflecting the latest ideas. At a time when securities markets are undergoing dramatic change, this two volume set provides important guidance to students, users and regulators of securities markets.

Read more less

Taiwanese foreign direct investment rapidly expanded in the mid-1980s when the domestic wage rate and the value of the Taiwanese currency skyrocketed simultaneously. Losing their competitive edge at home, many Taiwanese firms relocated to lower wage countries; mainly Southeast Asia and China.Taiwanese Firms in Southeast Asia provides a comprehensive review of Taiwan's direct investment in Southeast Asia, including Indonesia, Malaysia, Thailand, the Philippines and Vietnam. It also explores the motivation behind investment in Asia, Europe and the US. In most countries, incidence of foreign direct investment is positively correlated with firm size. However, in Taiwanese firms, the opposite is true. The book examines the reasons for this and assesses the difference in practice between small and large firms conducting foreign direct investment, focusing on the manufacturing sector. The book also includes an original, comprehensive survey and a series of interviews with Taiwanese parent firms and their subsidiaries in Southeast Asia. The authors conclude that networking underscores the core competitiveness of Taiwanese firms and when these firms invest abroad, they attempt to maintain a close connection with domestic networks to retain competitiveness and flexibility. However, they will have difficulty in sustaining this in the long-term because co-ordination of production across national borders requires intensive input of managerial resources which are scarce among Taiwanese firms. In the long-term, they have to localize and integrate themselves into the local networks.The book is a result of joint research efforts by Taiwanese, American and Southeast Asian scholars and will be required reading for students and scholars of economies in Southeast Asia, international business, Asian studies and multinational enterprise.

Read more less

Economic Incentives are playing an increasingly important role in pollution control.This authoritative collection - edited by leading contributors to the field - presents the most important published work on the legal and economic instruments and institutions which have been used during the last thirty years to control pollution. The papers focus on issues of instrument design, implementation, enforcement and evaluation, and consider strategies for coping with uncertainty and 'second-best' situations.

Read more less

International strategies and the organizational designs of multinational corporations are in a period of transition; the dominant designs of the recent past are gone and new dominant designs have not yet emerged. This authoritative collection of articles by leading international scholars presents the dominant ways of examining and understanding these current changes. It investigates contrasting points of view and provides the reader with a framework for evaluating the transformation of international corporations and for developing a critical insight which will be as useful for understanding future changes as it is for understanding those that have already occurred.

Read more less

What has dictated the rate and direction of technological change? How central has it been to industrial progress? How has it related to other determinants of economic growth and development?In Technology and Industrial Progress, Nick von Tunzelmann examines theoretical views on the nature and contribution of technology, and the empirical evidence from the major industrializing countries from the eighteenth century to the present day. The experiences of countries regarded in their time as the leaders of industrialization - Britain in the eighteenth century, the United States in the nineteenth century and Japan in the twentieth century - are critically compared by the author. The following chapters study the transfer of each of these patterns of technology and growth to later industrializers, such as continental Europe, the Soviet Union, and today's newly industrializing countries. Adopting approaches drawn from evolutionary economics, Dr von Tunzelmann links micro-level phenomena relating to individual firms and technologies to macro-level outcomes as reflected in economic growth and development.This long-awaited book is exceptional both in the range of countries surveyed and the breadth of topics analysed, encompassing changes in production processes, products and marketing, management and finance.

Read more less

This important new book presents the theoretical, econometric and applied foundations of the economics of innovation as well as offering a new approach to the measurement of technical change. The author, a leading expert in innovation economics and management, critically reviews current schools of thought and presents his own contribution to measurement techniques.Measurements of technical change have focused on the characteristics of price and quantity whilst useful theories and reliable indicators of the quality of innovation in new products have been sorely lacking. The author examines the theoretical foundations of the measurement of technical change and extends the analysis to consider the econometric and empirical perspective in the process of innovation. He outlines the key contributions to innovation research by reviewing the English-language literature and providing a very useful guide to the most important contributions in other languages. In the measurement of the quality of innovation, the techniques used in the author's contribution to new 'technometrics' are presented and explained in detail and are applied to the most important topical problems in innovation and management.This significant addition to the literature will be invaluable to graduates, scholars and managers working in the area of technical change, technology and innovation management.

Read more less

Service Industries in the Global Economy is a comparative international reference collection which identifies and reprints the most important articles on services and the service economy written by geographers, economists and sociologists. The focus is on the growth and evolution of service activities in the advanced economies of Europe, North America and the Pacific Rim within the framework of the global economy.The first volume explores the shift away from manufacturing employment towards a variety of service occupations in the advanced economies. It provides an empirical and theoretical account of the transformation, exploring the growth and nature of service employment as well as the evolution of a service class and the issue of social polarisation. The second volume explores the relationship between service activities and economic development as well as the relationship between producer services and manufacturing companies. It also provides an analysis of the growth of multinational service firms and examines the relationship between services, technological change and globalisation.

Read more less

The Economic Approach to Environmental Policy draws together a selection of Myrick Freeman's most influential papers on key analytical and policy issues in the field of environmental economics.The papers collected in this significant volume cover a wide range of topics pertinent to the study of environmental economics including: the effects of environmental and resource policies on the distribution of income the incorporation of distribution effects into environmental policy analysis the role of economic incentives in environmental policy the economic valuation of environment changes the consideration of risk and uncertainty in economic valuation and policy making This outstanding collection also includes several papers that communicate, in a non-technical way, the ethical basis of environmental economics and the economic approach to environmental policy.It will be of great interest to academics and policymakers concerned with working in the area of environmental economics.

Read more less

The world's increasing integration through trade and the persistence of high unemployment in Europe, and other areas of the world, highlight the need to understand the implications of free trade for unemployment. Trade, Jobs and Wages analyses how employment levels and real wages are affected by international trade.Popular trade theory disregards the impact of free trade on the rate of unemployment, since it assumes full employment at the outset. By focusing on the determinants of the natural rate of unemployment, Professor Hoon places an emphasis on real, as opposed to monetary, factors in accounting for long term trends in wages and unemployment. The author examines the influence of trade on jobs and wages in different theoretical settings, including the Ricardian and Heckscher-Ohlin models as well as models exhibiting imperfect competition and scale economies. The influence of trade on high wage jobs and wage inequalities is also discussed.

Read more less

Rapid technological developments in communications and transportation, economic liberalization and the emergence of new economies with vast market potential have changed the shape of international production. This scholarly selection of articles represents some of the most important contributions to an understanding of this ongoing, global economic restructuring and its impact on the geographic configuration of production and the economic competitiveness of nations in the world economy.

Read more less

The Economics of Famine presents an important collection of outstanding contributions to the economic analysis of famine. The first part consists of theoretical papers, including Amartya Sen's classic exposition of the entitlement approach to famine analysis, various extensions and critiques of this approach, and more recent developments in the economics of famine. The second part consists of empirical case studies of famine in specific countries or regions, including Ireland, Russia, China, South Asia and sub-Saharan Africa. This innovative volume provides invaluable reference material for development economists and all those concerned with the persistence of famine in the modern world.

Read more less

The Economics of Environment and Development is a carefully edited selection of Edward Barbier's most influential papers on the role of environmental economics in economic development.This book begins with a brief overview and summary of the papers, placing each in its original context and in relation to the development of Barbier's ideas. The first section deals with the concept of sustainable development, in particular its practical implications for economic policy in developing countries, as well as the long run conditions under which an economy might trade-off environment and growth to achieve its development aims. The second section is concerned mainly with land degradation and tropical deforestation. Using case studies from Africa, Central America and Southeast Asia, the underlying causes of these problems are examined and innovative policies are prescribed to reverse environmental degradation in these areas. The third part of the book is dedicated to the economics of wetlands, wildlands and biodiversity conservation, and discusses the optimal use and management of a region's remaining wild or natural habitat areas. The final section of the book deals with trade and the environment and focuses on the linkages between sustainable resource management and the trade in ivory, timber and forest products, and the role of trade interventions as a means of encouraging a developing country to conserve more of a biological resource.This authoritative volume will be of great interest to academics, policymakers and students of environmental, ecological and development economics.

Read more less

This major new book contains contributions by many of the leading historians of technology. The contributors argue that culture, institutions and learning either made the way for, or blocked technological and industrial transformation. Their essays include broad comparative frameworks between Europe and Asia, and Europe and America, and examine the specific experiences of Britain, France, Holland, Germany and Scandinavia. Themes addressed include cultures of invention and the learning economy, technological inertia and path dependence, patents and product innovation, and technology, institutions and boundaries.

Read more less

Nicholas Georgescu-Roegen was described by Paul Samuelson as 'an economist's economist'. This book honors him by discussing his theories on a wide range of issues but particularly on environmental and energy economics. It is a dynamic tribute which extends his work to address the problems the human race will face in the 21st century.The book shows how Georgescu-Roegen constructed nothing less than an almost complete theoretical alternative to neoclassical economics. Although best-known for his later work as an environmentalist and his work on energy and material transformation, Georgescu-Roegen also made seminal contributions to the economic theory of utility and production and is considered to be one of the founders of modern mathematical economics. In this book an internationally acclaimed group of contributors including Joan Martinez-Alier, William H. Miernyk, Herman Daly and Cutler Cleveland present discussions on environmental and energy economics as well as mathematical economics, economic development and peasant economies, and bioeconomics.This book serves as an excellent all-inclusive introduction to the work of one of the great economists of the 20th century. This celebration of the contributions made by Georgescu-Roegen will be of interest to environmental and natural resource economists, as well as social and economic theorists.With a dedication by Wassily Leontief and a foreword by Paul Samuelson.

Read more less

Persistent Disparity provides a comprehensive examination of the magnitude and scope of racial economic disparity in the United States. The authors directly assess the extent of black economic progress in the US since World War II and address the controversy of whether the racial income gap is closing or widening as America approaches the 21st century. Darity and Myers explicitly make the connection between what the theory of racial inequality espouses and corresponding policy recommendations for remedying such disparity such as affirmative action and reparations. The authors challenge the cultural-genetic explanation and advance a new theoretical explanation that incorporates a more expansive characterization of the nature and role of discrimination. They also conclude that conventional anti-discrimination efforts are unlikely to be sufficient to close the gap.This book will be essential reading for anyone interested in US social and economic history, political economy, African-American studies, and public policy.

Read more less

Applied Microeconomic Theory presents a seminal collection of the author's influential papers in a number of areas of applied microeconomic theory. This invaluable volume contains a selection of both published and unpublished papers written over a period of thirty years and reveals Curtis Eaton's profound economic insight and ability.Topics covered include: Strategic market structure. Beginning with Eaton's pioneering 1975 paper on pre-emption by product proliferation in a differentiated oligopoly and ending with his paper - in collaboration with Nicholas Schmitt - on the implications for market structure of flexible manufacturing published in 1995. Efficiency wages, including two of the very earliest papers on the subject written in collaboration with William White. Theory of price in both labour and output markets. Collusive behavior, including a number of important papers written in collaboration with Mukesh Eswaran.

Read more less

Economy and Ecosystems in Change addresses ecological problems from an economic perspective, and provides policy suggestions for resource management and environmental sustainability based on integrated, multidisciplinary information, methods and applications.The book begins by introducing the different approaches and applications within ecological economics and clarifying new elements and fundamental principles. This initial discussion includes a comparison between ecological and environmental economics and the evaluation and function of ecosystems. The authors then examine the macroeconomy-ecosystem relationship with reference to national and global processes, focusing specifically on employment versus sustainability, trade, industrial transformation and rural development. In the third part there is an evaluation of whether ecosystems and economics can be treated independently; it is argued that the integration of these fields provides more complete insights and information for addressing the complex relationships between human activities and natural processes. Finally, the authors consider the institutional environment and policies affecting public ecosystems subject to economic uses. Using case study evidence, they conclude that public policy often supports an unsustainable use of resources. To counter this the authors propose policy and management options based on natural resource accounts, practical policy objectives and the precautionary principle.Economy and Ecosystems in Change will be of interest to ecological, environmental and resource economists and policymakers.

Read more less

This important new book is a practical guide to the design of policies for effective energy conservation. Drawing on a wide range of European experiences, it analyses and evaluates the weaknesses of current conservation policies. The authors advance proposals that will ensure that political, administrative and energy conservation resources are used to maximum effect. Based on original investigations of conservation policies the book examines: the use of grants and subsidies to encourage investment in the conservation of energy in domestic housing and public buildings the use of information to inform householders of their conservation options and the implications of these options the use of regulation to encourage the use of combined heating power demand-side management by utility companies institutional development as a means of engendering 'bottom-up' conservation initiatives The main lesson is that it is not the policy per se but its design and execution which dictates performance. The key variables in shaping such performance are identified and discussed.This timely book will be invaluable for those responsible for designing and implementing energy conservation policies and will be of special interest to those researching the practice of energy conservation.

Read more less

This book provides a comparative overview of the environmental and resource problems experienced in the Nordic and Baltic regions. It considers policies to combat environmental challenges and evaluates future economic growth and economic integration between the region and Western Europe.Using eight country case studies, the contributors assess recent policies to address environmental problems in the region and examine the choice of policy instruments used in the various countries. They study the Baltic countries of Estonia, Latvia, Lithuania, and the Nordic countries of Finland, Sweden, Norway, Denmark and Iceland and consider the relationship between environmental policies of these and other European countries. In addition they also debate issues such as: international environmental cooperation environmental problems within the context of political debate international financial assistance for environmental projects comparative aspects of economic theory and policy concerning resources, the environment and economic growth Environmental Transition in Nordic and Baltic Countries will be welcomed by academics interested in environmental economics and transition economies as well as policymakers in governmental and non-governmental organizations.

Read more less

The recent shift away from reactive to creative public policy management has caused considerable problems in Central and Eastern Europe. This book questions whether public management reforms as applied in OECD countries can make a real contribution to establishing new forms of public management in Central and Eastern Europe.The book defines the main problems facing public administrations in transitional countries and provides a comparative evaluation of the relevance for these countries of reform measures undertaken in OECD states. In the first part an historical perspective on the role of the state in Europe is presented. Parts two and three present country case studies which focus on the key areas of public management and the attempts made to address its current problems. The case studies describe the constitutional and political framework in which the system of public management operates and present a critical analysis of ongoing reform processes. They focus on reforms at the central government level, changes in local-central government relations, and the high profile areas of health and education policy. The authors look at the characteristics of the policy process, financial and human resource management and the accountability system. In conclusion, they question whether models of public administration and strategies for reform applied in Western capitalist economic systems, can really provide solutions to the particular problems of Central and Eastern Europe, or whether those problems might be aggravated by copying Western models and strategies. Innovations in Public Management will be welcomed by policy makers and practitioners in both Western Europe and OECD countries as well as those working in transitional countries through its fresh comparative approach and analysis of the real applicability of reform strategies. It will also be welcomed by academics and students interested in public administration, public policy and government.

Read more less

This book is the third and final volume of essays celebrating the work and lifetime contribution of Paul Davidson to economics, specifically the development of post Keynesian Economics.The outstanding group of international economists examine areas in which Paul Davidson has an interest, or has made significant contributions. They explore international macroeconomic issues such as consumption and investment, wage and price flexibility, sticky prices and aggregate production, and financial liberalization. Other contributions discuss economic rhetoric and post Keynesian methodological issues while the final part of the book turns to real problems such as the politics and economics of the European Union, the stabilization of the international oil market and realities of financial liberalization.

Read more less

This up to date book provides the first evidence on employee-ownership in Central and Eastern Europe. This subject has attracted growing interest in recent years, since the sale and free distribution of enterprise shares to employed workers and mangers have surprisingly become frequent privatization methods in many transitional economies. The book highlights some of the crucial issues which have been debated in recent economic literature, in particular the advantages and risks of employee-ownership in comparison with other privatization methods. It also provides an overview of individual countries' experiences and makes some important policy recommendations. Privatization Surprises in Transition Economies is a wide-ranging survey which considers employee- ownership within privatization legislation and its diffusion and implementation problems in 14 transitional economies. Using empirical evidence on the impact of this privatization method, the authors address issues such as enterprise restructuring, employment, wages, productivity and investment policies. They conclude that employee-ownership has a bright future, and that the fears expressed by many policy advisers regarding the negative implications of employee ownership were largely exaggerated. This privatization method has proven to be one of the quickest, and has also brought with it many positive changes such as decentralization, increased productivity and motivation and more moderate restructuring policies - especially with regard to employment reductions.This book also presents some of the weaknesses of this form of privatization and identifies such possible improvement as the use of employee-ownership in combination with other privatization methods.

Read more less

The Sociology of the Military is an authoritative selection of articles providing an historical overview of the field and illustrating the major directions of contemporary research. The book considers the forerunners to a sociology of the military and the research trends in America and the rest of the world. Topics covered include models for comparative research, the military profession and the relationship between military and civil society. Finally, the book explores new roles for the armed forces in our changing world.

Read more less

This important book challenges conventional development theory by addressing not only technological but also socio-economic factors influencing low agricultural productivity in the developing world.Agricultural productivity has long been regarded as a fundamental factor in influencing economic development, yet relatively little research has examined the causes of stagnated and low agricultural productivity in developing countries. This book goes beyond the traditional discussion of low productivity being primarily determined by technological factors, and addresses the more complex determinants. Special attention is given to the influences of ecology and environmental degradation, the distribution of political power and socio-economic factors, as well as possibilities for biotechnology. The authors have been drawn from an international arena and transcend traditional academic disciplines combining historical, statistical and formal analysis for a better understanding of critical development issues. Economic Development and Agricultural Productivity will be of special interest to development and agricultural economists and policymakers.

Read more less

Why do some countries have faster rates of economic growth than others?The relationship between economic growth and the political structure of a country has long been explored in an attempt to understand why some countries experience faster rates of growth than others. This book explores these issues from a new in-depth perspective, challenging conventional theory which claims that democracy promotes economic growth.In examining the economic consequence of politics and institutions, the author provides an extensive critical review of 47 empirical studies. This previous research on the relationship between political and institutional systems and economic policy and growth is analysed and its conclusions questioned. Clemens Siermann then creates a new up-to-date data set on the causality between political and institutional factors and economic variables. In examining the relationship between economic growth, institutional systems and political stability, the author assesses their impact on inflation, fiscal policy, central bank independence, budget deficits, public debt and the investment-income ratio. In conclusion, he argues, that political stability, rather than the type of political system, is a key factor in explaining the differences in the rates of economic growth between countries. This insightful new book will be of interest to economists, political scientists, researchers and post-graduates working in the fields of political economy, growth theory and economic development.

Read more less

This important new book presents a state-of-the-art assessment of how economic models can be used by different levels of government to combat environmental problems. It considers policies for climate change and transport that can be used at federal and confederal levels of government.The authors examine the unique aspects of environmental policy making in a multi-layered government using empirical case studies covering Europe and the US. They consider the causes of pollution at three levels - federal government, local government and industries and firms. Concentrating on greenhouse gas abatement and the transport sector, they use quantitative techniques to compare alternative policy solutions. This quantitative approach overcomes problems of some inconclusive theoretical prescriptions, which often depend on combinations of particular parameter values. In addition, this method makes it possible to investigate the costs and benefits of a particular solution, and the distribution effects between different groups. This approach also provides insights into the economic consequences of the application of local versus national or federal policies. Climate Change, Transport and Environmental Policy provides the necessary analysis required for environmental policy making in that it uses a quantitative approach to balance the costs and benefits of alternative policy options.Climate Change, Transport and Environmental Policy is an important addition to the literature and will be welcomed by environmental policymakers at the local, regional, national and international level as well as scholars and postgraduate students in environmental economics and public policy.

Read more less

This highly original new book examines the scientific status of economics from the perspective of practising economists. It studies how they evaluate their theories, the relationship between those theories and the phenomena they are intended to represent, and the philosophy, methodology and scientific credentials of economics. It examines the tension between economics as the logic of rational choice and as a predictive science, that is reason and reality respectively.It surveys the five most influential schools of thought in the methodology of economics, with special emphasis on theory appraisal: logical positivism, instrumentalism, a priorism, scientific realism and rhetorical analysis. Professor Fox assesses the extent to which economists have followed the precepts and consequences of their methodological position. He extends the discussion to consider the purpose of such economic inquiry, the scope of application and the appropriate structure of economic theory, as the legitimate sources of economic knowledge. In conclusion he argues that a resolution of existing and emerging methodological controversies in economics must begin with a better understanding of the various voices within the discipline.Intended as an introduction to the major schools of thought in economics, this book will be of interest to students and scholars of economics, philosophy and economic methodology.

Read more less

How can developing nations achieve cohesive national innovation systems which provide the foundations for technological progress and economic growth? In answer to this question, Technology, Development and Democracy examines the possibility of studying innovation systems using a unified approach drawing on economic, political, sociological and cultural factors and addresses the problematic concept of progress in the postmodern era.Haider Khan expresses the search for high technology as the search for 'positive feedback loop innovation systems' (POLIS). In the first part of the book the conditions for POLIS are explored both in theory and using empirical evidence. The author examines the theoretical arguments which describe an innovation system as a complex and uncertain evolutionary process. He uses empirical evidence to illustrate these arguments and examines whether South Korea's pursuit of high technology has led to the creation of a 'positive feedback loop innovation system'. The second part of the book extends the analysis of the economics of POLIS and discusses the implications of high technology systems for the polity and society at large. It also pursues some of the normative issues raised by high technology, particularly the relationship between economy and democracy. Technology, Development and Democracy will be invaluable to students and academics with an interest in economic development, technological change and political economy.

Read more less

David Gordon was a pioneer in the burgeoning field of institutional growth economics, introducing the concept of a 'social structure of accumulation', and richly illustrating its usefulness with both econometric and historical studies. Gordon also helped to develop the theory of segmented labor markets and contributed to the econometric and historical analysis of their evolution. This authoritative collection of his most influential works - selected and introduced by his two closest collaborators - embraces the full range of his lifelong scholarly endeavor to deploy modern economic reasoning in the cause of social justice.The work opens with an introduction and overview of David Gordon's career and published work. This is followed by his major essays on a great variety of topics, including the economics of crime, urban history, wage stagnation in the US economy, the organization of work, the 'top-heavy' modern corporation, the social and institutional determinants of productivity growth and the globalization of economic life, as well as labor market segmentation and the social structure of accumulation.Gordon's synthesis of questions of neo-Marxian and more conventional provenance, and his integration of historical and econometric methods in providing answers, makes Economics and Social Justice a unique and intellectually rewarding analysis of contemporary capitalism.

Read more less

The Sociology of Race and Ethnicity is a comprehensive collection of the most significant articles to appear in this field. It presents the major ideas and approaches in this branch of sociology and covers the main themes in European debates as well as race-related questions in North America.Topics covered are: theories of racial and ethnicity division including rational choice, sociobiology and class approaches; the sociology of race, nationalism and colonialism; migration and ethnicity; the nature and causes of prejudice and racial discrimination; inter-ethnic conflict; racialisation and ethnic identity; race and social class in urban areas; multiculturalism and the problem of the political integration of immigrants.

Read more less

Cost-benefit analysis is a key component in the evaluation of economic development strategies. In this new, updated version of his earlier book, Project Appraisal for Developing Countries, Robert Brent provides a comprehensive and accessible introduction to recent developments in project appraisal. Cost-Benefit Analysis for Developing Countries interprets, expands and evaluates the principles of project appraisal using the approach recommended by the World Bank. Robert Brent challenges a number of their findings, particularly through the inclusion of the 'numbers effect', the number of people affected by a development project, as a separate social objective. The book is based on a combination of sound economic theory and extensive empirical research, and case studies are used throughout to illustrate the theory. The author analyses, from an applied perspective, the most recent developments in project appraisal. He discusses key issues such as: structural adjustment lending investment criteria the basic needs approach shadow and market prices the social discount rate risk analysis. Cost-Benefit Analysis for Developing Countries will be essential reading for students with an interest in development economics, development studies, public policy and comparative economic systems as well as policymakers and practitioners in international organisations and developing countries.

Read more less

Turbulence in Economics presents the economy as an evolutionary process, economics as a realistic science and reintroduces history as fundamental to understanding economic processes. It examines cycles and fluctuations in economic history from the point of view of turbulence in the physical sciences, (specifically hydrodynamics), and argues that an evolutionary approach is required for a better understanding of historical economic processes.Economic time is marked by a succession of long periods of economic expansion and depression, separated by deep structural changes. These periods represent distinct forms of organization of social relations, science and technology, cultural trends and political and social institutions. This is accepted by historians but rejected in orthodox economics. In this book the author challenges this and argues that the divorce between economics and history limits the ability of economics to explain reality. Within this inquiry into the crisis of orthodox economics the author considers Keynes's, Mitchell's and Schumpeter's critiques of neoclassical economics. The author then compares these to the contributions of Frisch and Wicksell, and examines recent studies of chaos, nonlinear and complex dynamics to explain the historical development of modern economics.This book will be welcomed by economic historians, historians of economic thought, institutional and evolutionary economists and those interested in chaos, complexity and modern methodology.

Read more less

This collection is a tribute to a most faithful, true Keynesian, who read, thought, dreamt and promoted Keynes: Lorie Tarshis (1911-1993). This volume is focused on the important role of Lorie Tarshis's brand of Keynesianism on the effect of the Keynesian revolution on economic thought in America. Tarshis was among the first to form part of Keynes's select 'circus', not only witnessing, but actually participating in the making of The General Theory. This memorial includes new reflections on the impact of Keynesianism in the making by many of the eminent early generations of American post-war economists, Galbraith, Goodwin, Kindleberger, Samuelson, Salant, Tobin and Perlman. While their contributions shed more light on how the participants in the process, Tarshis included, effected early Keynesianism, the volume also contains contributions by those such as Moggridge and McQueen who reflect on aspects of the process from greater distance. Holzman and Reder recount Lorie Tarshis's subtle contribution and its direct impact and reverberations are reflected upon in the balance of the chapters by Colander, Dimand, Dow, Grimard, McCann and Perlman, and Parker.This book will be of great interest to scholars interested in the history of economic thought and Keynesian economics.

Read more less

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

Read more less

Liberalism is today under serious intellectual attack. It is said to undermine its own principles, to have lost any strong claims to universal validity, and to foster injustice and inhumanity. Liberalism is associated with Enlightenment thought and is considered by some as an outmoded political philosophy. Professors Rasmussen and Den Uyl take up this challenge to liberalism. They show that liberalism is not locked into traditional ways of understanding itself and has the capacity to enrich itself by intellectual traditions not usually associated with liberalism.Unlike much of liberalism, which defends its politics by resorting to either moral skepticism or moral minimalism, Rasmussen and Den Uyl employ a distinction between normative and “metanormative” principles. The latter are more directly tied to politics and concern principles that establish social/political conditions under which full moral conduct can take place. Thus it is not necessary to minimize the moral universe to support liberalism. Rasmussen and Den Uyl support their distinction through a novel use of neo-Aristotelian virtue ethics, and they show the importance of this distinction when they specifically address the positions of two leading critics of liberalism - John Gray and Alasdair MacIntyre.

Read more less

The evolutionary approach to economics can be traced back as far as the eighteenth and nineteenth centuries in the work of Darwin, Smith and Malthus. These ideas have gradually developed since that time through Marx, Veblen and Marshall, and have recently experienced considerable attention. This book considers the development of evolutionary economics and its place in economic thought today.The book begins with a concise history of evolutionary economics which develops to examine the variety of approaches within the subject. The discussion continues with a rigorous analysis of why, in contrast to popular belief, evolutionary economics is not alien to neoclassical economics, arguing that it may even be considered to complement neoclassical economics. Continuing along this theme the firm is discussed from an evolutionary and neoclassical standpoint. Leading on from this is a discussion of modern model building in evolutionary economics and its relationship with Schumpeter's developmental work. Model building is examined further in relation to endogenous technological change and economic growth, and the effect that technological change and innovation can have on the spatial distribution of new industry. This book will be of special interest to evolutionary and post Keynesian economists and those interested in technological change and innovation.

Read more less

This important book presents new work by respected scholars in the field of public administration in Europe, and evaluates both American and European approaches to public sector management and administrative reform.The book begins with introductory chapters examining public management in Europe and the United States and explores the paradoxes that exist in administrative reform. Part two presents a wide range of case studies of European management reforms including the United Kingdom, France, Austria, Spain, Germany, the Netherlands and Switzerland. It offers a balanced view of the managerial trend which appears to be sweeping across Western Europe. This is achieved by presenting the full spectrum of case studies from success to failure. Balance is created by presenting counter-arguments and criticisms of the prevailing trend of reform. The third part considers management, legal state and democracy. Finally, the volume concludes with a North American perspective on the administrative reform in Europe.Public Management and Administrative Reform will be indispensable to academics, policymakers and management practitioners in the public sector, especially those working within Europe.

Read more less

The Struggle for World Markets examines the pattern of deepening integration and imbalances across the Atlantic as the European Union and North America are increasingly linked through high volume trade and expanding transnational production. Distinguished authors examine in detail structural policy issues, foreign direct investment flows, free trade options and the evolution of collaborative arangements between firms, especially in high technology sectors. The volume explores the possibility of promoting greater links between the European Union and North America. It offers assessments of potentials for the formation of new alliances that would strengthen Atlantic economic ties.The Struggle for World Markets will be invaluable to policymakers and scholars with an interest in international business, international political economy, commerce and political science.

Read more less

This insightful book critically assesses the subjectivist metatheoretical origins of the revival of modern Austrian economics. It examines the ideas of the main contributors to the Austrian school, including von Mises, von Hayek and Lachmann.Allen Oakley analyses the contribution to subjectivist philosophy made by the key founders of the neo-Austrian revival. He argues that while von Mises and von Hayek each confronted mainstream microeconomics with restricted subjectivist alternatives, Lachmann played the 'devil's advocate' for a more comprehensive range of subjectivist principles. The author finds that ultimately, although all three provided analyses that reached well beyond the confines of neoclassical economics, none fully applied the tenets of a complete subjectivism. Their contributions to the 1970s revival of interest in Austrian themes, and their legacies for neo-Austrian schools of thought, have thus left a great need for further methodological development if economics as a human science is to be reconstructed on subjectivist foundations.The Revival of Modern Austrian Economics will be of central interest to students and scholars of Austrian economics and to historians of economic thought and methodology more generally.

Read more less

The Political Economy of Economic Freedom brings together a timely selection of Sir Alan Peacock's views on economic freedom, its philosophy, its influence on the critique of economic policy and the problems encountered in expanding it.The book represents a diversity of experience ranging from academic speculation to close involvement with policy issues. An opening chapter introduces the essays and discusses the promotion of economic freedom. The book is then divided into three parts and each essay is introduced with a discussions of its intellectual origins. Part I considers how far the pursuit of individual freedom conditions government intervention in the pursuit of economic growth, the right to freedom of expression, conduct in the market place and the distribution of income, affording the author an opportunity to analyse the views both of his contemporaries and such major figures as Hume and Keynes. In Part II the author uses his specialist knowledge of public choice and public finance to explore 'government failure' in attempts to impose progressive taxation, to influence industry through subsidy and regulation and to control bureaucracy. In the final part, the author draws on his personal experience to demonstrate the problems encountered by economic advisers in devising reforms in the tax system, the devolution of government, social security and broadcasting.This volume will be welcomed by business and government, as well as by professional economists and social scientists familiar with Sir Alan's commitment to economic analysis as the servant of policy debate rather than merely a form of intellectual gymnastics.

Read more less