Search results for ""agenda publishing""

The 2020 World Happiness Report ranked Finland, for the third year running, as the world’s happiest country. The "Nordic Model" has long been touted as the aspiration for social and public policy in Europe and North America, but what is it about Finland that makes the country so successful and seemingly such a great place to live? Is it simply the level of government spending on health, education and welfare? Is it that Finland has one of the lowest rates of social inequality and childhood poverty, and highest levels of literacy and education? Finland clearly has problems of its own – for example, a high level of gun ownership and high rates of suicide – which can make Finns sceptical of their ranking, but its consistently high performance across a range of well-being indicators does raise fascinating questions. In the quest for the best of all possible societies, Danny Dorling and Annika Koljonen explore what we might learn from Finnish success.

Read more less

Edward Ashbee guides the reader through the intricate web of processes and forces of globalization that have shaped the world's politics and economics over the last 40 years. This is an invaluable overview of one of the most important phenomena of our age.

Read more less

Doreen Massey was a creative scholar, inspiring teacher and restless activist. Her path-breaking thinking about space, place, politics and economy changed not only geography but the critical social sciences, initiating new ways of seeing, understanding and indeed transforming the world. This collection of commissioned essays, including from Doreen Massey’s long-time interlocutors and collaborators, explores both the generative sources and the continuing potential of her remarkably wide-ranging and influential body of work. It provides an unparalleled assessment of the political and social context that gave rise to many of Massey’s key ideas and contributions – such as spatial divisions of labour, power-geometries and the global sense of place – and how they subsequently travelled, and were translated and transformed, both within and outside of academia. Looking forward, rather than merely backward, the collection also highlights the many ways in which Massey’s formulations and frameworks provide a basis for new interventions in contemporary debates over immigration, financialization, macroeconomic crises, political engagement beyond academia, and more. Doreen Massey: Critical Dialogues is a testament to the continuing relevance of Doreen Massey’s work across a wide range of fields, serving as an invaluable companion to the new collection of Massey's own writings, The Doreen Massey Reader published simultaneously and also compiled by the editors.

Read more less

The notion of marginalism is central to modern economic theory. Its emergence, in the 1870s, underpinned the change from classical economics to modern (micro)economics, described by Schumpeter as a “revolution”. This book explores the origins of the concept, its development and role in modern economics and shows why the marginalist approach is much more than a set of mathematical rules. The book examines how marginalism and its development of calculus came about in a variety of different arenas, including as a reaction to Ricardo’s dominant theory of rents, in von Thunen’s location model, in the writings of German and French authors, both within the mainstream and outside it, before going on to look in detail at the work of Jevons, Walras and Menger, the economists most closely associated with the marginal revolution. By exploring the origins and development of the marginalist approach within the history of economic thought, rather than seeking to explain it in forbidding formal terms, the book is better able to show students the wider importance of the marginalist approach in economic theory and its far-reaching societal implications in terms of the distribution of wages and capital. For anyone who has struggled with the technicalities of microeconomic theory, this approach will be warmly welcomed.

Read more less

The UK’s vote to leave the European Union is a pivotal moment in British history. Over the past forty years, the UK’s economy has become increasingly intertwined and dependent on its relationship with the other EU member states with both the EU and the UK’s economic landscape irrevocably fashioned by its membership. Brexit takes both parties into unchartered territory. At such a time of uncertainty, what can we say for certain about the UK’s economic relationship with the EU and what might be the likely flashpoints for negotiations and the unintended consequences of Brexit? This collection of essays explores the ramifications of the Brexit decision for the UK and European economies. The contributors, who all draw on long experience of policy-oriented research on the British economy within the European Union, consider the impact, at least in the short term, of a weaker and less influential UK economy. Questions addressed include: What is the likely impact on our already weak manufacturing industries? How will the withdrawal of EU funding for regional development impact on growth and future economic development outside of London and the South East? What is the likely impact on wages and labour regulations? How are relations with our closest EU neighbours likely to develop, critically for Northern Ireland with the Republic of Ireland, and with the biggest economic player, Germany? What of the Scottish question? How will the City, the engine of UK growth in the past decade, maintain its position as Europe’s financial centre? And finally, whither the EU? How will it fare without its second largest economy within the Union? With the UK’s withdrawal negotiations likely to last for at least the next two years, and the potential for other calls for referendums in other member states, the economic consequences of leaving the European Union are set to dominate politics in the UK and Europe well in to the future. These essays provide an important first step in assessing the threats and challenges that a Brexit poses for the UK and wider EU economy and will be welcome reading for anyone in search of some rigour and clarity amid the hyperbole of recent months.

Read more less

Global money laundering transactions are estimated to be $3.5 trillion annually. Although global spending on anti-money laundering compliance was more than $8 billion in 2017, with most countries having adopted anti-money laundering measures, less than 1 per cent of illicit financial flows are seized by authorities. This collection of essays takes an integrated look at money laundering and the challenges facing regulators in the digital age. The contributors examine the opportunities for money laundering presented by the emergence of new payment methods, such as crowdfunding and mobile payment services, the largely unregulated financial services sector of hedge funds, private equity funds and derivatives, the explosion of online gambling, and the rise of cryptocurrencies and blockchain technology. The essays show how the anonymity, irreversibility and instantaneous nature of these online transactions, outside of the traditional banking system, make them ideally suited to hide, launder and move criminal revenues. While highlighting the challenges these digital technologies present, each essay also considers some of the tools regulators have and can use to close down the opportunities for money laundering that continues to keep crime profitable and illegal activities funded.

Read more less

The “informal” economy – economic activity and income outside government regulation, taxation and observation – is, by its very nature, difficult to quantify. Recent estimates suggest it accounts, in OECD countries, for around 13% of national income (in the UK, the equivalent of £150 billion) and in developing nations it can make up as much as three-quarters of all non-agricultural employment. Whatever the exact figures, it is clear that the informal economy plays a significant role in national incomes (eventhough excluded from calculations of GDP or GNP) and affects a large share of the global workforce. Colin C. Williams provides an authoritative introduction to the topic, explaining what the informal economy is (and what it isn’t) and how it can best be measured. Taking a global perspective, he examines its characteristics in developed, developing and transitional economies, and looks at its role as a driver of economic growth. The theoretical underpinnings are explored, from conceptual origins in the development models of the 1950s, through to present-day discussions, which question whether a formalised economy is always the ideal. The book considers the economic motivations of the informal economy workforce, which may include tax evasion, circumventing regulations and maintaining state benefits, and assesses the different policy options available to governments to combat them, whether a punitive policy of deterrence, or one of accommodation that recognises the value of the sector in generating income and in meeting the needs of poor consumers. The book provides a masterly summation of the published research on the informal economy and an expert assessment of the key areas for research going forward. It will be welcomed by students taking courses in development economics, economic growth, labour economics, welfare economics and public policy.

Read more less

This volume of essays builds upon renewed interest in the long-run global development of wealth and inequality stimulated by the publication of Thomas Piketty’s Capital in the Twenty-First Century. It brings together an international team of leading economic historians and economists to provide an overview of global developments in the theory and reality of inequality and its salience in the modern world order. The contributors take stock of the key concepts involved in contemporary debates – capital, wealth and income distribution, economic development, private and collective assets, financialization, global liberalisation – and evaluate the evidence for both common and contrasting historical trends in national statistical data sources. To the developed economies upon which Piketty drew are added contributions covering Latin America, Africa, India and Japan, providing a global perspective upon a global phenomenon. The book seeks to provide readers with a deeper awareness and understanding of the significance of inequality in economic development, the varying pace and nature of economic change around the world, and the manner in which this process of change affects the distribution of incomes and wealth in diverse economies. The collection marks an important step in the process of developing Piketty’s analytical framework and empirical material, overcoming some of their limitations and helping to cement a lasting place for inequality in the future agenda of economics and economic history.

Read more less

A contemporary overview and critical analysis of the Kurds quest for national identity and statehood from the end of the Ottoman Empire to the modern day.

Read more less

North Korea is an anomaly in the international system. Deliberately isolated, it survives through the sale of weapons to enemies of the United States. In this book, Pacheco Pardo offers insight into the country today and seeks to answer what level of threat it poses to global security.

Read more less

Lost in Ideology maps the ideological terrain of the past 200 years and asks whether the current disorientation engulfing the world's liberal democracies is in no small part ideological in origin.

Read more less

A short history of one of the most successful European political ideologies and movements.

Read more less

This collection of newly commissioned essays from an international cast of contributors provides an authoritative assessment of the continued economic, social and political relevance of labour unions and their potential to bring about progressive societal change.

Read more less

Robert Walker provides a critical examination of the promise and reality of SDG1, the United Nations’ Social Development Goal designed, among other things, to eradicate extreme poverty by 2030. The author’s message is stark: there is little chance of success. Although the need for a collective and coordinated response is clear, global and national systems of governance are currently incapable of an adequate response. While the critique is formidable, the book seeks to identify reforms necessary to meaningfully increase the likelihood of meeting SDG1’s goals. These include reshaping international institutions so that they give greater voice to governments in the developing world, facilitating enhanced modes of participatory governance, and increasing democratic accountability at a global level. Evidence is drawn throughout from a systematic review of international best practice supplemented by more detailed strategic case-studies, including from China.

Read more less

Political Racism conceptualizes a distinctive form of racism – intentional, organized hostility mobilized by political actors – and examines its role in the Brexit conflict and in the rise of a new nationalist politics in the UK. In a compelling analysis the book argues that Powellite anti-immigrant racism, reinterpreted in numerical terms, was combined with anti-East European and anti-Muslim hostility to inform the Vote Leave victory. This type of racism, which has a special significance in societies where racism has been delegitimized, is shown to have further shaped the form of EU withdrawal and also the government’s post-Brexit policies.

Read more less

Cities are synonymous with the production and consumption of culture. It is their material and human cultural infrastructure that also makes them archives and works of art. The Cultural Infrastructure of Cities critically re-examines the relationship between the urban and its cultures. It expands our understanding of the concept of urban cultural infrastructure and highlights the foundational role of culture to the materiality and sociality of urban life and the governance of cities. The book begins with a theoretical overview of the cultural and infrastructural turns in urban studies scholarship. It then explores definitions of cultural infrastructure and its “hard” and “soft” dimensions before critically considering the vulnerabilities generated in the cultural sector by the Covid-19 pandemic. Chapters are organised in four thematic sections focusing on aspects of producing, performing, consuming and collecting culture, which feature detailed case studies from 17 cities across the global North and South. This book will be of interest not only to students and scholars of urban studies, but also to policy-makers planning and creating cultural infrastructures as well as those working in cultural institutions and creative industries.

Read more less

The people of China and its (widely differing) regions have not all benefited equally from the country’s rapid increase in prosperity, and the speed and timing of increases have varied across time and space. However, China has managed to help those left behind to catch up. These outcomes reflect a specific social model embedded in China’s cultural and political milieu. Exploring the Chinese Social Model presents new analysis and fresh research on how China deals with unequal development and inequality in the context of its surging economic growth. The book sheds new light on the workings of China’s social model, going beyond binary notions of market and state, and considers the new facets of its socialist market economy. In exploring these questions, the authors consider what is special about China and what the Chinese model is all about.

Read more less

Antitrust or competition law is widely considered an essential part of the legal and political structures of most liberal democracies and an integral foundation of a market economy. In this book, Mark D. White disputes this understanding, drawing on concepts from economics, philosophy, and law to argue that the pre-eminent status accorded to the regulation of competition should be reconsidered by any government that claims to support basic property rights. Despite its populist origins, antitrust is usually understood today in terms of economic theory, which provides a solid foundation for the analysis of market competition. As this logic goes, governments restrict firms from engaging in behaviour regarded as uncompetitive, with the purpose of protecting consumers, other firms, or the very process of competition itself. However, this neglects the fundamental property rights on which the market economy is based, an unfortunate implication of the utilitarian ethics at the heart of economics. Firms are held responsible for promoting societal welfare and penalized for failing to do so, even when their actions violate no recognized rights of consumers or competitors. This view of commerce sees firms as agents of the state rather than opportunities for individuals to pursue their interests in exchange with others. As White explains, competition or antitrust law serves as an example of how economics privileges welfare and efficiency over rights and justice, promoting the maximization of outcomes while ignoring the rights of those who generate them. Accessible and non-technical, this book assumes no previous knowledge of economics, philosophy, or law, and provides a fresh and thought-provoking perspective on antitrust and competition law that will challenge readers from all backgrounds and political stances to question the degree to which its wisdom is taken for granted.

Read more less

Banks have been at the heart of economic activity for centuries, but since the 2008 financial crisis scrutiny of their activities and regulation of their actions has become the focus of fervent academic, policy and political activity. This focus takes for granted the existence and nature of banks. In Regulating Banks, Andrew Whitworth looks one stage deeper to question what a bank really is, and what the implications of that are. He argues that the institutional form of a bank represents the political compromise of a specific time and place - and can therefore change. This has implications for financial stability. Far from creating stability, he argues, the regulatory impulse of policy-makers inevitably leads to greater financial instability. Whitworth examines the postwar period of UK banking to show how regulation influences the nature of banks as much as their behaviour. Regulation, by changing the nature of what is regulated, encourages banks and other actors over time to alter their behaviour, which leads to future boom and bust cycles. These cycles then require further regulation to rein in the disruption their new pattern of behaviour inevitably instigates. Regulating Banks reveals the cyclical nature of banking regulation, the inherent mismatch between political impulses and market reactions, and the price banks, banking and society pay for such instability.

Read more less

Football has been largely exempt from the development of the regulatory state and has been left to govern itself. However, new media have raised the profile of the game and globalization has created new pressures as football clubs become pawns in the ambitions of states, consortia and wealthy individuals. Clubs offer an important sense of identity for fans, but the impersonality and distance of ownership can set up new tensions. In addition, corruption in the international governing body has been a significant problem and the sport’s symbiotic relationship with gambling continues to be a concern. Wyn Grant examines the political economy of football and its uneasy relationship with the market. There are no off-the-shelf solutions for regulation, he argues, but the complexities of the game and its economic size demand more attention from government.

Read more less

In the debates about the UK’s future relationship with the European Union, all sorts of possible alternatives have been bandied about, from “Singapore on the Thames” to “Canada Plus”, from “Switzerland” to “Ukraine”, from “Norway” to “Australia”. But what do these alternative relationship models really consist of and would they be viable for the UK? Martin Westlake brings together distinguished contributors to examine these various options, real and potential, and to consider whether they would offer a workable solution for the continued relationship between the EU and post-Brexit Britain. These essays offer expert insight into the scale and challenge of the practical issues facing Britain as it seeks to establish a new future with its largest trading partner.

Read more less

Understanding how we take economic decisions and how we depart from rational choice theory has become increasingly important to understanding the workings of the economy at all levels. The concept of bounded rationality has been central to that endeavour and is used in economic models to shed light on real-life behaviour, which has led to specific policy implications that would otherwise have gone unappreciated. This introduction presents the key concepts and approaches adopted in the field of bounded rationality. The exposition is non-technical and free from any mathematical expressions and workings. The focus throughout is primarily on the behaviour of individuals or organizations within given situations rather than on macroeconomic concerns. The book examines how the field has evolved since its beginnings and assesses the strengths and weaknesses of its current research programme, including its relationship with behavioural economics. The book is excellent preparatory reading for degree-level courses in economics as well as specific courses in behavioural economics and philosophy of economics.

Read more less

Understanding how we take economic decisions and how we depart from rational choice theory has become increasingly important to understanding the workings of the economy at all levels. The concept of bounded rationality has been central to that endeavour and is used in economic models to shed light on real-life behaviour, which has led to specific policy implications that would otherwise have gone unappreciated. This introduction presents the key concepts and approaches adopted in the field of bounded rationality. The exposition is non-technical and free from any mathematical expressions and workings. The focus throughout is primarily on the behaviour of individuals or organizations within given situations rather than on macroeconomic concerns. The book examines how the field has evolved since its beginnings and assesses the strengths and weaknesses of its current research programme, including its relationship with behavioural economics. The book is excellent preparatory reading for degree-level courses in economics as well as specific courses in behavioural economics and philosophy of economics.

Read more less

Blockchain technology has the potential to disrupt digital interaction across our economy and society. As the internet has changed our lives, the potential for blockchain and distributed ledger technologies to do the same is considerable. Fred Steinmetz, Lennart Ante and Ingo Fiedler assess this rapidly developing technology and its imminent economic and societal impact. The ideas behind blockchain technology stem from an open-source movement and build on existing technology to facilitate the exchange of value in general and assets in particular via a protocol on top of the internet. Current platform-based business structures face the risk of being replaced by evolving decentralized ecosystems and individuals are set to become empowered by sovereignty over their digital data and footprints. The book begins by explaining the key concepts of blockchain technology and presents an overview of the involved technical and economic elements. These form the basis for a discussion of the socio-economic implications of this new technology. This is followed by an in-depth analysis of significant case studies in the sectors of energy, digital identity, capital markets, logistics and gambling that outline the risks and benefits of the technology. The book strives to be non-technical and accessible, and to demystify the functionalities of blockchains and their potential for a range of readers in the wider social sciences.

Read more less

At a time when both China’s role in the world is becoming the focus of international business strategy and Brexit is pushing the UK to look to the rest of the world for trade and investment, Kerry Brown assesses the potential for a new “golden age” of UK–China relations. For too long, Brown argues, China has been regarded with indifference by the UK, despite a well-established relationship stretching back some 200 years. Now, more than ever, Britain needs to actively engage with China and seek to understand China’s ambitions. This entails a radical change of mindset, vocabulary and attitude, as well as establishing a clear vision of what the UK wants from a resurgent global China, beyond trade and money. Brown shows that our future relationship with China is deep with symbolic meaning and will have reverberations throughout the world, as either a sobering example of what a world run on Chinese values might look like, or as a model of how to successfully rebalance a sudden asymmetrical dependence on a newly powerful China. It is one, however, that requires the UK to question some of its own national myths and the story it tells about itself, as well as to learn about a new power with a very different history and set of values.

Read more less

The benefits of globalization have long been trumpeted by right-wing and centre-left politicians and is enshrined in the neoliberal consensus of western democracies. However, in recent years, conservative rhetoric has turned increasingly anti-globalization. Ray Kiely examines this new trend, in particular the discourse of “winners” and “losers” of globalization that has emerged since the financial crisis, and which has been used by conservative politicians in the United States and the UK to reflect real and imagined threats to domestic economies and national identity. The book examines new US and UK conservative movements (alongside earlier traditions) and the development of conservative ideas, in particular projects for renewal, that have shaped responses to globalization that challenge neoliberal and third way approaches. The nostalgia for a former supposed age of economic and societal harmony, which has characterized this conservative anti-globalization response is given particular attention. The popular mantras of deregulation and economic nationalism that loomed large in both the election of Donald Trump and the UK’s Brexit vote are shown to be potent examples of the success of this new conservative (anti-)globalization rhetoric. As well as examining the changing nature of Anglo-American conservatism, the book also offers an insightful account of the wider resurgence of populism.

Read more less

Current migration policy is based on a seemingly neutral accounting exercise, in which migrants contribute less in tax than they receive in welfare assistance. A “fact” that justifies increasingly restrictive asylum policies. Peo Hansen shows that this consensual cost-perspective on migration is built on a flawed economic conception of the orthodox “sound finance” doctrine prevalent in migration research and policy. By examining migration through the macroeconomic lens offered by modern monetary theory, Hansen is able to demonstrate sound finance’s detrimental impact on migration policy and research, including its role in stoking the toxic debate on migration in the European Union. More importantly, Hansen’s undertaking offers the tools with which both migration research and migration policy could be modernized and put on a realistic footing.

Read more less

The theory of general equilibrium offers a simplified guide to how real economies function: it describes how price, demand, supply and production interact in multiple markets and tend towards a state of equilibrium. The first attempt to model this interaction was made in the late nineteenth century, but it remained a largely theoretical exercise until the computer age, when large amounts of data could be processed to model national economies on an unprecedented scale. Yves Balasko, one of the key pioneers in the field, offers an accessible introduction to general equilibrium theory and some of its most important developments of the past fifty years. The book begins with an historical presentation of general equilibrium theory that includes the two theorems of welfare economics and also a new proof of the existence of an equilibrium. The central chapters examine the main results of the theory of general equilibrium that can be obtained by following the equilibrium manifold and natural projection approach. The final chapter demonstrates the potential for extending the general equilibrium model beyond the market economy by introducing uncertainty and contingent commodities. Written for students taking courses in economic theory and modelling who have relatively limited mathematical proficiency, the book fills a gap between forbidding technical expositions and the less rigorous elementary ones. As a masterly summation of developments in equilibrium theory by one of the subject’s leading figures, it will also be welcomed by economists working across applied and computable general equilibrium analysis.

Read more less

Inequality is part and parcel of our lives. What degree of inequality we find acceptable or unacceptable informs the foundational values of our societies, and shapes our political and economic structures. Yet until recently the study of economic inequality (unlike poverty) was considered by economists as a problem not worth examining. That has changed. With the dramatic increase in the concentration of wealth in the hands of a few, inequality has become recognised by all shades of political opinion as a potential threat to economic growth and the functioning of society and democracy. In A Short History of Inequality, Michele Alacevich and Anna Soci chart the emergence of the inequality question and in so doing provide a masterly overview of the work of recent scholars and the main concepts and debates that have arisen within inequality studies. Their analysis highlights how the historical diffidence to examining inequality, the relationship of inequality to the processes of globalization, and the adverse effects of inequality on democracy are all strongly intertwined. The book is an ideal introduction for students and the general reader looking to understand what’s at stake when the rewards of capitalism are distributed unjustly.

Read more less

The theory of general equilibrium offers a simplified guide to how real economies function: it describes how price, demand, supply and production interact in multiple markets and tend towards a state of equilibrium. The first attempt to model this interaction was made in the late nineteenth century, but it remained a largely theoretical exercise until the computer age, when large amounts of data could be processed to model national economies on an unprecedented scale. Yves Balasko, one of the key pioneers in the field, offers an accessible introduction to general equilibrium theory and some of its most important developments of the past fifty years. The book begins with an historical presentation of general equilibrium theory that includes the two theorems of welfare economics and also a new proof of the existence of an equilibrium. The central chapters examine the main results of the theory of general equilibrium that can be obtained by following the equilibrium manifold and natural projection approach. The final chapter demonstrates the potential for extending the general equilibrium model beyond the market economy by introducing uncertainty and contingent commodities. Written for students taking courses in economic theory and modelling who have relatively limited mathematical proficiency, the book fills a gap between forbidding technical expositions and the less rigorous elementary ones. As a masterly summation of developments in equilibrium theory by one of the subject’s leading figures, it will also be welcomed by economists working across applied and computable general equilibrium analysis.

Read more less

The construction of housing, commercial property and infrastructure projects – roads, bridges, tunnels, railways, airports – for both the private and public sectors is one of the biggest industries in the world. It contributes around 10 per cent of world GDP, employs 7 per cent of the global workforce, and consumes around 20 per cent of the world’s energy. It is also a highly fragmented industry with very low profit margins and a high risk of failure for the many firms operating in its complex supply chain. Stephen Gruneberg and Noble Francis present an up-to-date analysis of how construction markets operate, how firms collaborate on projects, and how their business models work. They explore the many distinctive features of the economics of the industry, such as the use of cost-reduction rather than profit-maximizing behaviour, the processes of tendering and procurement, and the often cyclical nature of demand. Particular challenges for the industry, such as the frequency of disputes between firms and the low productivity of the sector, are shown to be the outcomes of a business model that tends to focus on the volatility of demand and managing risk at the expense of improving efficiency. As well as discussing industry-wide issues, the authors also examine how individual projects are costed. The book offers authoritative analysis and expert insight into the economics of a much misunderstood industry and is suitable for a range of courses in business schools and departments of architecture and the built environment.

Read more less

The world's eighth largest economy has a unique shape and structure. Characterized by strong social networks and a niche capitalism built on successful small and medium-sized enterprises, the Italian economy has a nature distinct from its European neighbours. Vera Zamagni charts Italy's recent economic history from the postwar years of reconstruction through to the present day and the legacy of the financial crisis. Combining illustrative data with qualitative analysis, she provides a clear and rigorous presentation of the main features of the country's economy. The country's regional imbalances, political instability and corruption are situated alongside its strengths in social capital, its flourishing industrial districts and its high ranking in well-being indicators. Throughout, the contours of a much longer history are shown to have shaped the contemporary economy as much as recent trends, such as migration. The book provides a concise survey suitable for a range of introductory readerships seeking to understand the nature of recent Italian economic performance.

Read more less

The notion of marginalism is central to modern economic theory. Its emergence, in the 1870s, underpinned the change from classical economics to modern (micro)economics, described by Schumpeter as a “revolution”. This book explores the origins of the concept, its development and role in modern economics and shows why the marginalist approach is much more than a set of mathematical rules. The book examines how marginalism and its development of calculus came about in a variety of different arenas, including as a reaction to Ricardo’s dominant theory of rents, in von Thunen’s location model, in the writings of German and French authors, both within the mainstream and outside it, before going on to look in detail at the work of Jevons, Walras and Menger, the economists most closely associated with the marginal revolution. By exploring the origins and development of the marginalist approach within the history of economic thought, rather than seeking to explain it in forbidding formal terms, the book is better able to show students the wider importance of the marginalist approach in economic theory and its far-reaching societal implications in terms of the distribution of wages and capital. For anyone who has struggled with the technicalities of microeconomic theory, this approach will be warmly welcomed.

Read more less

Richard Youngs examines the policy challenges and choices now facing Europe in the wake of Russia's war with Ukraine.

Read more less

The 2020 World Happiness Report ranked Finland, for the third year running, as the world’s happiest country. The "Nordic Model" has long been touted as the aspiration for social and public policy in Europe and North America, but what is it about Finland that makes the country so successful and seemingly such a great place to live? Is it simply the level of government spending on health, education and welfare? Is it that Finland has one of the lowest rates of social inequality and childhood poverty, and highest levels of literacy and education? Finland clearly has problems of its own – for example, a high level of gun ownership and high rates of suicide – which can make Finns sceptical of their ranking, but its consistently high performance across a range of well-being indicators does raise fascinating questions. In the quest for the best of all possible societies, Danny Dorling and Annika Koljonen explore what we might learn from Finnish success.

Read more less

Crisis after crisis has beset the European Union in recent years – Greek sovereign debt, Russian annexation of Crimea, unprecedented levels of migration, and the turmoil created by Brexit. An organization originally designed to regulate and enforce rules about fishing rights, wheat quotas and product standards has found itself on the global stage forced to grapple with problems of identity, sovereignty and solidarity without a script or prompt. From Paris to Berlin, London to Athens, European leaders have had to improvise on issues that the Union was never set up to handle and which threaten to engulf this unique political entity. And they have had to do so in full view of an increasingly disenchanted and dissonant public audience. In this candid and revealing portrayal of a Europe improvising its way through a politics of events and not rules, Luuk van Middelaar makes sense of the EU’s political metamorphosis over its past ten years of crisis management. Forced into action by a tidal wave of emergencies, Van Middelaar shows how Europe has had to reinvent itself by casting off its legal straitjacket andconfronting hard issues of power, territorial borders and public authority. Alarums and Excursions showcases the fascinating relationship between the Union and the European heads of government, and the stresses it must withstand in dealing with real world events. For anyone seeking to understand the inner power play and constitutional dynamics of this controversial, but no less remarkable, political institution, this book provides compelling reading.

Read more less

Tariffs and trade barriers are rising and major diplomatic institutions that have promoted liberal trade for decades have come under attack as impending trade wars threaten global trade and global value chains for manufacturing weaken. And at the root of this crisis, argues Geoff Pigman, is accelerating technological change. This book traces the impact of today’s major technological transformations on global trade and the diplomacy that makes trade possible. Not only is global trade changing, in terms of what is traded and how, but diplomacy in the digital age is changing as well. Arguing that we must think differently about trade and diplomacy, this book proposes pragmatic policy approaches for the diplomatic management of a challenging and potentially dangerous future.

Read more less

As a broad introduction to the history of economic thought – based on courses the authors have taught for many years – this book provides a magisterial overview for students and teachers who have not had the opportunity to cover the development of the field of economics in its historical context. The text is presented as a series of twenty-four lectures, which can be used as the basis for self-study or for the delivery of a course. Each lecture presents an outline of aims, a select bibliography, a chronology, an overview of between 3,000 and 4,000 words, and questions for further study or reflection. Contemporary understanding of economic principles sheds little light on the manner in which past thinkers thought, so the reader is provided with the much-needed context behind the development of ideas, as well as being guided through the original writings of economists such as Smith, Jevons, Marshall, Robbins, Keynes and others. The emphasis is on the broad developing stream of economic argument from the seventeenth century to the present, seeking to emphasize a diversity that is sometimes suppressed in more conventional textbooks, which tend to organize their histories into sequences of schools of thought. Backhouse and Tribe bring their considerable insight and knowledge to bear on the text, having honed their presentation to the needs of those with no previous background in the subject, without sacrificing analysis or rigour. The book will be warmly welcomed by students and teachers alike.

Read more less

Global financial capitalism has eroded the moral economy on which all economic exchanges ultimately depend. The principles of reciprocity, responsibility and redistribution, which for centuries defined the market place, have been increasingly pushed aside by a growth model that places the pursuit of profit above all else. Luigino Bruni and Stefano Zamagni draw on a rich Italian tradition of civic humanism to advocate a more well-mannered type of economic market – a civil economy – one that places well-being, virtue and the common good alongside more familiar economic goals. They provide a succinct introduction to the civil economy approach and outline the thought and ideas of some of its pioneers and main representatives. The many different fields of application of the civil economy, from the determination of gross domestic product to the management of common goods, from welfare to the organization of production and consumption, are considered. Unlike many post-growth or degrowth movements, rather than seek to replace the market, civil economy seeks to find solutions to social problems within the market, while maximizing human values and minimizing government intervention. It is a distinct and valuable approach, and one that offers individuals, corporations and governments a framework for a humane and socially accountable, yet productive and competitive, system of markets.

Read more less

Antitrust or competition law is widely considered an essential part of the legal and political structures of most liberal democracies and an integral foundation of a market economy. In this book, Mark D. White disputes this understanding, drawing on concepts from economics, philosophy, and law to argue that the pre-eminent status accorded to the regulation of competition should be reconsidered by any government that claims to support basic property rights. Despite its populist origins, antitrust is usually understood today in terms of economic theory, which provides a solid foundation for the analysis of market competition. As this logic goes, governments restrict firms from engaging in behaviour regarded as uncompetitive, with the purpose of protecting consumers, other firms, or the very process of competition itself. However, this neglects the fundamental property rights on which the market economy is based, an unfortunate implication of the utilitarian ethics at the heart of economics. Firms are held responsible for promoting societal welfare and penalized for failing to do so, even when their actions violate no recognized rights of consumers or competitors. This view of commerce sees firms as agents of the state rather than opportunities for individuals to pursue their interests in exchange with others. As White explains, competition or antitrust law serves as an example of how economics privileges welfare and efficiency over rights and justice, promoting the maximization of outcomes while ignoring the rights of those who generate them. Accessible and non-technical, this book assumes no previous knowledge of economics, philosophy, or law, and provides a fresh and thought-provoking perspective on antitrust and competition law that will challenge readers from all backgrounds and political stances to question the degree to which its wisdom is taken for granted.

Read more less

Populism has become one of the most overused terms in political discourse today. It can embrace authoritarian and nativist right-wing politicians but also those on the left who appeal for popular support for transformation. In its dominant usage it is seen as inimical to the values of liberal democracy. Yet others see it as part of the construction of a people-centred project that can realize true democracy. What is clear is that much of the debate around populism has been from the perspective of the global North and the voice of the South has been largely missing. This volume addresses this absence and provides a Latin American perspective to the global study of populism. It argues that Latin America in its rich and early experience of populism is a valuable laboratory to further our understanding and to address the question of whether populism now goes beyond the dichotomy of left and right and is a new political phenomenon. The book presents a series of case studies with cross-cutting overview chapters that highlight the lessons to be learned from new research. Each chapter is set within a tight conceptual framework in order to better understand contemporary Latin American politics “after the pink tide” and to enrich the international debate on populism from a Latin American perspective.

Read more less

The Anthropocene is an authoritative desk-top reference work for students of geography, the environment and sustainability. Through a series of 101 interconnected questions and answers spanning ten thematic sections, the book provides a comprehensive survey of humankind's impact on the global environment from the Late Stone Age to the present day. Unrivalled in scope, the book distills the latest research findings and scholarship across a remarkable range of topics concerning the evolving human–environment relationship. These include the broad history of human-induced changes in the environmental conditions of the planet; the major human impacts on the Earth and their consequences; and the different causes and rationales applied to understanding these environmental changes. All questions are answered succinctly and rigorously and draw on a wealth of contemporary evidence and scientific theories. The book is colour illustrated throughout, answers are fully cross-referenced and further readings are suggested for those wishing to delve deeper. For anyone seeking to understand the human-induced changes to our planet and the challenges these pose for sustainability, this book is an invaluable resource. It provides a masterly presentation of the human footprint on the Earth system.

Read more less

Corruption takes many different forms and the systems that enable it are complex and challenging. To best understand corruption, one needs to examine how it operates in practice. Understanding Corruption tells the story of how corruption happens in the real world, illustrated through detailed case studies of the many different types of corruption that span the globe. Each case study follows a tried and tested analytical approach that provides key insights into the workings of corruption and the measures best used to tackle it. The case studies examined include examples of corporate bribery, political corruption, facilitation payments, cronyism, state capture, kleptocracy, asset recovery, offshore secrecy, reputation laundering and unexplained wealth, and actors include businesses, governments, politicians, governing bodies and public servants.

Read more less

Forced to embrace a post-carbon future, or risk serious damage to the planet, we have begun a race for alternatives to the scarce resources that previous generations relied on. In this book, Jonathan Moses and Anne Brigham consider how best we might negotiate the world’s scarce pool of natural resources, and avoid the pitfalls of the past. In order to shift the world’s consumption from one set of scarce natural resources to another, they show the need for management regimes that are both politically, as well as environmentally, sustainable. They propose an alternative way to think about resource management for the future, one based on the collective ownership of (stewardship over) nature, and one where the rents resulting from this ownership, like the resources that produce them, belong to the people. Using case studies from particular markets, they demonstrate how such a management model might work to protect our common heritage and allow communities to secure the benefits we can and should expect from scarce resources – our natural dividend.

Read more less

Climate change is increasingly contested on financial terms. Different actors are advancing competing climate visions and interests by adopting financial positions. International institutions urge action by identifying financing gaps needed to meet climate targets. The finance sector claims it holds the key to unlocking money needed for climate investment. Activists expose greenwashing while using financial tactics to undermine fossil fuels. Vulnerable countries demand wealthy governments repay historical climate debts. This book offers an accessible and critical guide to the political economy and economic geography of climate finance. It identifies six competing "positions" of climate finance to make sense of the array of financial instruments, institutions and ideas that are remaking the relationship between capitalism and climate change. Using a wide range of case studies, from green bonds, to divestment, carbon offsetting, climate tech, central banks, and international climate funds, the authors show how climate finance is shaping our collective climate futures.

Read more less