The Sovereign Individual details strategies necessary for adapting financially to the next phase of Western civilization. Few observers of the late twentieth century have their fingers so presciently on the pulse of the global political and economic realignment ushering in the new millennium as do James Dale Davidson and Lord William Rees-Mogg. Their bold prediction of disaster on Wall Street in Blood in the Streets was borne out by Black Tuesday. In their ensuing bestseller, The Great Reckoning, published just weeks before the coup attempt against Gorbachev, they analyzed the pending collapse of the Soviet Union and foretold the civil war in Yugoslavia and other events that have proved to be among the most searing developments of the past few years. In The Sovereign Individual, Davidson and Rees-Mogg explore the greatest economic and political transition in centuries—the shift from an industrial to an information-based society. This transition, which they have termed "the fourth stage of human society," will liberate individuals as never before, irrevocably altering the power of government. This outstanding book will replace false hopes and fictions with new understanding and clarified values.

    Mandelbrot, one of the century's most influential mathematicians, is world-famous for making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these classic lines we can now add another example: Markets are not the safe bet your broker may claim. In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature, Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are. With his fractal tools, Mandelbrot has gotten to the bottom of how financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.

    The author's conversational writing style presents the politics and science of economic theories to tomorrow's decision-makers.

    In 1995 a Gallup poll found that 52 percent of Americans said "the federal government has become so large and powerful that it poses an immediate threat to the rights and freedoms of ordinary citizens." Later that year, The Wall Street Journal concurred, saying: "Because of their growing disdain for government, more and more Americans appear to be drifting—often unwittingly—toward a libertarian philosophy." Libertarianism is hardly new, but its framework for liberty under law and economic progress makes it especially suited for the dynamic new era we are now entering. In the United States, the bureaucratic leviathan is newly threatened by a resurgence of the libertarian ideas upon which the country was founded. We are witnessing a breakdown of all the cherished beliefs of the welfare-warfare state. Americans have seen the failure of big government. Now, in the 1990s, we are ready to apply the lessons of this century to make the next one the century not of the state but of the free individual. David Boaz presents the essential guidebook to the libertarian perspective, detailing its roots, central tenets, solutions to contemporary policy dilemmas, and future in American politics. He confronts head-on the tough questions frequently posed to libertarians: What about inequality? Who protects the environment? What ties people together if they are essentially self-interested? A concluding section, "Are You a Libertarian?" gives readers a chance to explore the substance of their own beliefs. Libertarianism is must reading for understanding one of the most exciting and hopeful movements of our time.

    It happens frequently in everyday life, such as when we tell the host of a dinner party that we are enjoying the food when we actually find it bland. In Private Truths, Public Lies Kuran argues convincingly that the phenomenon not only is ubiquitous but has huge social and political consequences. Drawing on diverse intellectual traditions, including those rooted in economics, psychology, sociology, and political science, Kuran provides a unified theory of how preference falsification shapes collective decisions, orients structural change, sustains social stability, distorts human knowledge, and conceals political possibilities.A common effect of preference falsification is the preservation of widely disliked structures. Another is the conferment of an aura of stability on structures vulnerable to sudden collapse. When the support of a policy, tradition, or regime is largely contrived, a minor event may activate a bandwagon that generates massive yet unanticipated change.In distorting public opinion, preference falsification also corrupts public discourse and, hence, human knowledge. So structures held in place by preference falsification may, if the condition lasts long enough, achieve increasingly genuine acceptance. The book demonstrates how human knowledge and social structures co-evolve in complex and imperfectly predictable ways, without any guarantee of social efficiency.Private Truths, Public Lies uses its theoretical argument to illuminate an array of puzzling social phenomena. They include the unexpected fall of communism, the paucity, until recently, of open opposition to affirmative action in the United States, and the durability of the beliefs that have sustained India's caste system.

    

    Codevilla illustrates that as people shape their governments, they shape themselves. Drawing broadly from the depths of history, from the Roman republic to de Tocqueville's America, as well as from personal and scholarly observations of the world in the twentieth century, The Character of Nations reveals remarkable truths about the effects of government on a society's economic arrangements, moral order, sense of family life, and ability to defend itself.Codevilla argues that in present-day America, government has had a profound negative effect on societal norms. It has taught people to seek prosperity through connections with political power; it has fostered the atrophy of civic responsibility; it has waged a Kulturkampf against family and religion; and it has dug a dangerous chasm between those who serve in the military and those who send it in harm's way. Informative and provocative, The Character of Nations shows how the political decisions we make have higher stakes than simply who wins elections.

    Economists concerned with competition have taken refuge in increasingly complex models which emphasize the end-state of competitive equilibrium. This paper presents, in non-technical terms, an 'Austrian' view of how a market economy works. The writer of this book follows in the Austrian tradition as he tries to crystallize the theory of entrepreneurial discovery and of its implications for economic understanding and policy.

    must take to lead the world economy onwards

    A movement that today counts among its supporters Steve Forbes, Nat Hentoff, and P.J. O'Rourke, libertarianism joins a continuous thread of political reason running throughout history. Writing in 1995 about the large numbers of Americans who say they'd welcome a third party, David Broder of The Washington Post commented, "The distinguishing characteristic of these potential independent voters—aside from their disillusionment with Washington politicians of both parties—is their libertarian streak. They are skeptical of the Democrats because they identify them with big government. They are wary of the Republicans because of the growing influence within the GOP of the religious right." In The Libertarian Reader, David Boaz has gathered the writers and works that represent the building blocks of libertarianism. These individuals have spoken out for the basic freedoms that have made possible the flowering of spiritual, moral, and economic life. For all independent thinkers, this unique sourcebook will stand as a classic reference for years to come, and a reminder that libertarianism is one of our oldest and most venerable American traditions.

    The Wall Street which emerges is not a pretty sight. Hidden from public view, the markets are poorly regulated, badly managed, chronically myopic and often corrupt. And though, as Henwood reveals, their activity contributes almost nothing to the real economy where goods are made and jobs created, they nevertheless wield enormous power. With over a trillion dollars a day crossing the wires between the world's banks, Wall Street and its sister financial centers don't just influence government, effectively they are the government.

    The book argues that human beings are at their best not when they are engaged in abstract reflection, but when they are intensely involved in changing the taken-for-granted, everyday practices in some domain of their culture--that is, when they are making history. History-making, in this account, refers not to wars and transfers of political power, but to changes in the way we understand and deal with ourselves. The authors identify entrepreneurship, democratic action, and the creation of solidarity as the three major arenas in which people make history, and they focus on three prime methods of history-making--reconfiguration, cross-appropriation, and articulation.

    Development economics studies the economies of such countries and the problems they face, including poverty, chronic underemployment, low wages, rampant inflation, and oppressive international debt. In the past two decades, the international debt crisis, the rise of endogenous growth theory, and the tremendous success of some Asian economies have generated renewed interest in development economics, and the field has grown and changed dramatically.Although Analytical Development Economics deals with theoretical development economics, it is closely grounded in reality. The author draws on a wide range of evidence, including some gathered by himself in the village of Nawadih in the state of Bihar, India, where--in huts and fields, and in front of the village tea stall--he talked with landlords, tenants, moneylenders, and landless laborers. The author presents theoretical results in such a way that those doing empirical work can go out and test the theories.The book is a revision of Basu's The Less Developed Economy: A Critique of Contemporary Theory (Blackwell, 1984). The new edition, which has several new chapters and sections, incorporates recent theoretical advances in its comprehensive, up-to-date treatment of the subject. It is intended primarily as a textbook for a one-semester graduate course, but will also be of interest to researchers in economic development and to policymakers.

    Kaplan and Cooper reveal that most companies don't know how to measure accurately, influence, or understand the fundamental cost drivers in their businesses. They then provide a detailed and comprehensive blueprint that will enable managers to make better decisions and to promote organizational learning and improvement. Cost and Effect takes the management, finance, and accounting fields to an entirely new level, as the authors demonstrate how the principles of activity-based costing and other advanced cost management techniques, such as target and kaizen costing, can drive business performance. Using lively examples from a variety of leading companies worldwide--including Siemens, Hewlett-Packard, AT&T, the Swedish wire manufacturer Kanthal, Kirin Beer, and Procter & Gamble--they show how to create integrated, knowledge-based systems that provide meaningful information on current and past performance.The innovation systems described in Cost and Effect will help you: determine where improvements in quality, efficiency, and productivity will have the highest payoffs; assist front-line employees in their learning and improvement activities; make better product mix and capital investment decisions; negotiate more effectively on price, product features, quality, delivery, and service to promote win-win relationships with your customers; choose low-cost suppliers who are truly low cost, not just low price; design products and services that meet customers' expectations - and that can be produced and delivered at a profit; and, integrate your activity-based cost system into reporting and budgeting processes to reveal the sources of excess capacity. Everyone involved in running a business--from general managers and strategic planners to financial executives, IT professionals, and operations managers--must read this book to learn how innovative cost and performance measurement systems can enhance their organizational profitability and performance.

    It reviews modulation and detection theory; multiple access techniques, and current wireless standards -- including CDMA, TDMA, AMPS and GSM. It presents case studies of transceiver architectures designed by several leading manufacturers. Finally, it offers detailed explanations of low-noise amplifiers, mixers and oscillators; frequency synthesizers and power amplifiers.For electrical engineers working in the communications fields, especially those involved with wireless technology. Also for graduate students.

    According to the book, those who look upon monetary expansion as a way to eradicate almost all unemployment fail to appreciate that persistent unemployment is a non-monetary or 'natural' economic condition, which no mount of monetary medicine can cure. Selgin explores the differences between these monetary and natural conditions, and proposes solutions of his own.

    Such thinking, he argues, has fundamentally distorted our national debate on health care by focusing the controversy on the unrealistic goal of government-provided universal access, instead of what can be reasonably provided to the largest number of people given the nation's limited resources. With bracing clarity, Epstein examines the entire range of health-care issues, from euthanasia and organ donation to the contentious questions surrounding access. Basing his argument in our common law traditions that limit the collective responsibility for an individual's welfare, he provides a political/economic analysis which suggests that unregulated provision of health care will, in the long run, guarantee greater access to quality medical care for more people. Any system, too, must be weighed on principles of market efficiency. But such analysis, in his view, must take into account a society-wide as well as an individual perspective. On this basis, for example, he concludes that older citizens are currently getting too much care at the expense of younger Americans. The author's authoritative analysis leads to strong conclusions. HMOs and managed care, he argues, are the best way we know to distribute health care, despite some damage to the quality of the physician-patient relationship and the risk of inadequate care. In a similar vein, he maintains that voluntary private markets in human organs would be much more effective in making organs available for transplant operations than the current system of state control. In examining these complex issues, Epstein returns again and again to one simple theme: by what right does the state prevent individuals from doing what they want with their own bodies, their own lives, and their own fortunes? Like all of Richard Epstein's works, Mortal Peril is sure to create controversy. It will be essential reading as health-care reform once again moves to the center of American political debate.

    This position is defended with detailed analyses of the major economic sectors and investigations into social structure and macro-economic performance. Dutch economic history is placed in its European and world context. Inter-continental and colonial trade are discussed fully. Special emphasis is placed on the environmental context and demographic developments.

    More than 40 million students have trusted Schaum's to help them succeed in the classroom and on exams. Schaum's is the key to faster learning and higher grades in every subject. Each Outline presents all the essential course information in an easy-to-follow, topic-by-topic format. You also get hundreds of examples, solved problems, and practice exercises to test your skills.This Schaum's Outline gives youPractice problems with full explanations that reinforce knowledgeCoverage of the most up-to-date developments in your course fieldIn-depth review of practices and applicationsFully compatible with your classroom text, Schaum's highlights all the important facts you need to know. Use Schaum's to shorten your study time-and get your best test scores!Schaum's Outlines-Problem Solved.

    This popular text, revised and updated throughout for the second edition, serves as a concise and rigorous introduction to the theory of contracts for graduate students and professional economists. The book presents the main models of the theory of contracts, particularly the basic models of adverse selection, signaling, and moral hazard. It emphasizes the methods used to analyze the models, but also includes brief introductions to many of the applications in different fields of economics. The goal is to give readers the tools to understand the basic models and create their own.For the second edition, major changes have been made to chapter 3, on examples and extensions for the adverse selection model, which now includes more thorough discussions of multiprincipals, collusion, and multidimensional adverse selection, and to chapter 5, on moral hazard, with the limited liability model, career concerns, and common agency added to its topics. Two chapters have been completely rewritten: chapter 7, on the theory of incomplete contracts, and chapter 8, on the empirical literature in the theory of contracts. An appendix presents concepts of noncooperative game theory to supplement chapters 4 and 6. Exercises follow chapters 2 through 5.Praise for the previous edition:"The Economics of Contracts offers an excellent introduction to agency models. Written by one of the leading young researchers in contact theory, it is rigorous, clear, concise, and up-to-date. Researchers and students who want to learn about the economics of incentives will want to read this primer." -- Jean Tirole, Institut D'Economie Industrielle, Universite des Sciences Sociales, France"Students will find this a very useful introduction to the ideas of contract theory. Salanie has managed to summarize a large amount of material in a relatively short number of pages in a highly accessible and readable manner." -- Oliver Hart, Professor of Economics, Harvard University

    Learn the meaning of truly satisfying work, how to use mental concentration to increase productivity, and more.

    The values of Patriarchy entwine with those of Capitalism to create an economic system of domination, while a maternal economy would provide for everyone and promote a community-oriented subjectivity which would also honor Mother Nature. This book gives a woman based perspective on the gift economy as a basis for social change.

    It examines the characteristics of optimal contracts when one party has certain relevant knowledge that the other party does not. The various problems are presentedin the same framework to allow easy comparison of the different results. This updated second edition substantially extends the exercises that test students' understanding of the material covered in each section.

    Not only does it teach some of the basic econometric methods and the underlying assumptions behind them, but it also includes a simple and concise treatment of more advanced topics from spatial correlation to time series analysis. This book 's strength lies in its ability to present complex material in a simple, yet rigorous manner. This superb fourth edition updates identification and estimation methods in the simultaneous equation model. It also reviews the problem of weak instrumental variables as well as updating panel data methods.

    Arrow's classic paper "The Economic Implications of Learning by Doing" (1962). It shows how Arrow's idea fits into the modern theory of economic growth, and uses it as a springboard for a critical consideration of spectacular recent developments that have made growth theory a dynamic topic today.The author then develops a new theory that combines learning by doing (identifying it with the concept of "continuous improvement") with a separate process of discrete "innovations." Learning by doing leads to a fairly smooth reduction in labor required per unit of output, tied to the rate of gross investment in new capital equipment. Innovations arrive at random; when one of them happens, the labor requirement takes a jump downward.This new model, simple as it is, does not lend itself to self-contained solution. The author accordingly presents the results of a series of computer simulations that exhibit the variety of paths the new model economy can follow, showing, among other things, that early good luck can have a persistent effect. The book concludes with some general reflections on policies for economic growth, drawn not from any one modeling exercise but from general experience with a variety of growth models.Of the four chapters of this book, the first two were presented as the Kenneth J. Arrow Lectures at Stanford University in 1993. The computer simulations were specially done for inclusion in this book. The final chapter on policies for economic growth was first presented as the Ernest Sturc Lecture at the Johns Hopkins School of Advanced International Studies in Washington in 1991.

    Using detailed and comprehensive data that describe more than four thousand whaling voyages from New Bedford, Massachusetts, the leading nineteenth-century whaling port, the authors explore the market for whale products, crew quality and labor contracts, and whale biology and distribution, and assess the productivity of the American fleet. They then examine new whaling techniques developed at the end of the nineteenth century, such as modified clippers and harpoons, and the introduction of darting guns. Despite the common belief that the whaling industry declined due to a fall in whale stocks, the authors argue that the industry's collapse was related to changes in technology and market conditions. Providing a wealth of historical information, In Pursuit of Leviathan is a classic industry study that will provide intriguing reading for anyone interested in the history of whaling.

    The theory of evolution by natural selection has always relied in part on progress in areas of science outside of biology. By applying economic principles at the borderlines of biology, Haim Ofek shows how some of the outstanding issues in human evolution, such as the increase in human brain size and the expansion of the environmental niche humans occupied, can be answered. He identifies distinct economic forces at work, beginning with the transition from the feed-as-you-go strategy of primates, through hunter-gathering and the domestication of fire to the development of agriculture. This highly readable book will inform and intrigue general readers and those in fields such as evolutionary biology and psychology, economics, and anthropology.

    It examines various forms of economic intervention (taxation, regulation, monetary policy) and their effects on consumer products and services, the health and lives of Americans, and the nation's economic well-being. The book also explores a broad range of environmental issues. Scientific subjects such as pollution, acid rain and global warming are explained in clear, nontechnical language -- and some surprising facts here discredit current government policies.

    Crafted over the last 15 years into a problem-solving tool for engineers, researchers, consultants and planners currently working in the field, as well as a detailed map of the renewables universe for those looking to expand into new technological specialties, Renewable Energy by Sorensen offers the most comprehensive coverage of the subject available.The book has been structured around three parts in order to assist readers in focusing on the issues that impact them the most for a given project or question. PART I covers the basic scientific principles behind all major renewable energy resources, such as solar, wind and biomass. PART II provides in-depth information about how these raw renewable sources can actually be converted into useful forms, transmitted into the grid and stored for future utilization. Finally, PART III undertakes the aspects of energy planning, environmental impacts and socio-economic issues on regional and global levels.In this fourth edition update, new material includes expanded coverage of biofuels, solar conversion, biomass and fuel cells, storage and transmission, and a new chapter on integrated technologies to introduce the hybrid systems now being explored. New surveys and the most recent research findings are included throughout.

    The book draws on economic and sociological data, key texts and political events, anecdotes and a review of other analyses to build a picture of the role of education programs in the modernization of Australian life. It examines the implications of change for the labor market and the economy, in social policies and in cultural life. An important focus of the book is the discussion of the extension of citizenship through education.

    . . . [Maldonado's] extensive interviews of Moscoso are unique and help make this a highly original work. . . . He deserves this amount of attention as the man who, next to Luis Muñoz, was the dominant figure in the Puerto Rico renaissance of the 1950s."--Thomas L. Hughes, Carnegie Endowment for International Peace"Maldonado does a superb job in presenting Teodoro Moscoso's role generally and the decisive actions he took at critical junctures in particular."--Rafael de Jesús Toro, dean of business administration, Interamerican University of Puerto Rico, and professor of economics, University of Puerto RicoA. W. Maldonado tells the story of Puerto Rico's extraordinary climb from poverty to economic success. Operation Bootstrap, a program conceived, promoted, and implemented by Teodoro Moscoso (1910-1992), succeeded in attracting worldwide capital investment that by the mid-1950s had transformed the island from an economic backwater into a bustling industrial society. Though much of the credit went to Puerto Rico's governor, Luis Muñoz Marín, Maldonado focuses on Moscoso to describe how and why the economic miracle took place.Moscoso was deeply involved in all aspects of the Puerto Rican economy and culture, and Maldonado follows his relationships and battles on a number of fronts, from his initial differences with Rexford Tugwell, the last American governor of the island, to conflicts with Governor Muñoz, who was constantly concerned that Moscoso was pushing change too quickly. In the worlds of business and culture, Maldonado shows how Moscoso employed advertising guru David Ogilvy to propagate the image of a people engaged in a cultural renaissance. He also highlights Moscoso's decisive actions at critical junctures (such as his success in pushing tax exemptions and tourism in the late 1940s) and his personal persuasiveness, as with Pablo Casals, who at the age of eighty was persuaded to establish his Casals Festival at San Juan.Maldonado shows that Moscoso was the architect of the "economic miracle" that economists and presidents believed could not happen in Puerto Rico. His account sheds new light on the man who provided U.S. administrations with a democratic success story to counter the allure of the Cuban revolution and who was called on by President John F. Kennedy to organize and head the Alliance for Progress.A. W. Maldonado, a journalist in Puerto Rico for 37 years, is a former editor of El Mundo and El  Reportero  and currently writes a column for the San Juan Star. His articles have appeared in numerous U.S. publications, including the New York Times, Los Angeles Times, Baltimore Sun, Christian Science Monitor, Newsday,   and The Nation.

    The asymmetric information model, extremely powerful in many areas of economic theory, has proven useful in banking theory both for explaining the role of banks in the economy and for pointing out structural weaknesses in the banking sector that may justify government intervention. In the past, banking courses in most doctoral programs in economics, business, or finance focused either on management or monetary issues and their macroeconomic consequences; a microeconomic theory of banking did not exist because the Arrow-Debreu general equilibrium model of complete contingent markets (the standard reference at the time) was unable to explain the role of banks in the economy. This text provides students with a guide to the microeconomic theory of banking that has emerged since then, examining the main issues and offering the necessary tools for understanding how they have been modeled.This second edition covers the recent dramatic developments in academic research on the microeconomics of banking, with a focus on four important topics: the theory of two-sided markets and its implications for the payment card industry; "non-price competition" and its effect on the competition-stability tradeoff and the entry of new banks; the transmission of monetary policy and the effect on the functioning of the credit market of capital requirements for banks; and the theoretical foundations of banking regulation, which have been clarified, although recent developments in risk modeling have not yet led to a significant parallel development of economic modeling.Praise for the first edition: "The book is a major contribution to the literature on the theory of banking and intermediation. It brings together and synthesizes a broad range of material in an accessible way. I recommend it to all serious scholars and students of the subject. The authors are to be congratulated on a superb achievement."--Franklin Allen, Nippon Life Professor of Finance and Economics, Wharton School, University of Pennsylvania"This book provides the first comprehensive treatment of the microeconomics of banking. It gives an impressive synthesis of an enormous body of research developed over the last twenty years. It is clearly written and apleasure to read. What I found particularly useful is the great effort that Xavier Freixas and Jean-Charles Rochet have taken to systematically integrate the theory of financial intermediation into classical microeconomics and finance theory. This book is likely to become essential reading for all graduate students in economics, business, and finance."--Patrick Bolton, Barbara and David Zalaznick Professor of Business, Columbia University Graduate School of Business"The authors have provided an extremely thorough and up-to-date survey of microeconomic theories of financial intermediation. This work manages to be both rigorous and pleasant to read. Such a book was long overdue and shouldbe required reading for anybody interested in the economics of banking and finance."--Mathias Dewatripont, Professor of Economics, ECARES, Universit

    An Active Approach to Modern Economics. O'Sullivan/Sheffrin makes use of Active Learning Tools which get students involved in role-playing, help them apply concepts, and offer reinforcement of the material (tools include: Economic Experiments, Application Questions, and Test Your Understanding Questions). The text provides a clear, concise, and accessible presentation of key points. Its hallmark feature includes a focus on the 5 Key Principles of Economics--1) Opportunity Cost, 2) The Marginal Principle (comparing marginal benefits and marginal costs), 3) Diminishing Returns, 4) The Principle of Voluntary Exchange, 5) The Real-Nominal Principle (distinguishing real from nominal magnitudes). It is available in a hardbound, Economics text, as well as, Micro and Macro splits.

    Miller contends that the drug war's racial bias has exacerbated an already present prejudice throughout the criminal justice system. In a wide-ranging survey, Miller describes widespread bias among police officers, probation officers, and courts, while social scientists, whose data form the basis for much policy toward crime, and social workers, whose responsibility is allegedly to members of the underclass, have uncritically accepted the questionable assumptions of criminal justice processing. He warns that the sudden rekindling of interest in genetics and crime along with the creation of a massive crime control industry hold even greater danger for racial minorities in their encounters with the justice system.

    Arguing that democratic systems are characterized by self-governing--not state- governed--societies, Ostrom contends that the nature and strength of individual relationships and self-organizing behavior are critical to the creation and survival of a democratic political system. Ostrom begins with a basic contradiction identified by Alexis de Tocqueville. De Tocqueville suggested that if citizens acted on the basis of their natural inclinations they would expect government to provide for them and take care of their needs. Yet these conditions contradict what it means to be self-governing. Ostrom explores the social and cultural context necessary for a democratic system to flourish emphasizing the important role of ideas and the use of language in defining and understanding political life. Discussing differences in the ideas about social organization among various cultural and intellectual traditions, he considers the difficulties encountered over time in building democratic societies in America, Asia, Europe, and Africa. He outlines lessons from these experiences for the efforts to build democracy in the developing world and the countries emerging from communism.Based on a lifetime of thinking about the social conditions necessary to support a democracy, this book makes a significant contribution to the recent discussion about civil society and the fragility of our formal and informal social institutions and will be of interest to social scientists, historians and all readers concerned with the state of democracy in the modern world.Vincent Ostrom is Arthur F. Bentley Professor of Political Science Emeritus and Co-Director of the Workshop on Political Theory and Policy Analysis, Indiana University. He is the author of many works on political theory and public administration.

    This third edition builds on the popular format of its predecessors to provide the best concise guide to its subject for students of international economics.Since the previous edition, new developments covered include:the ongoing impact of 9/11 and the Iraq War the increased number of free trade agreements, custom unions and common markets, including the recent accession of ten new countries to the European Union in 2004 an acknowledgement of the huge impact of private firms in shaping the global economy an examination of the role of the International Monetary Fund, World Bank and World Trade Organization.The book takes the student through the major characteristics of the global economy in jargon-free non-technical language. Chapter summary diagrams and a wealth of boxes and tables make this an essential introduction for undergraduates and A-level students as well as the casual reader.

    Professional sports teams are demanding and receiving fancy new playing facilities that are heavily subsidized by government. In many cases, the rationale given for these subsidies is that attracting or retaining a professional sports franchise—even a minor league baseball team or a major league pre-season training facility--more than pays for itself in increased tax revenues, local economic development, and job creation.But are these claims true? To assess the case for subsidies, this book examines the economic impact of new stadiums and the presence of a sports franchise on the local economy. It first explores such general issues as the appropriate method for measuring economic benefits and costs, the source of the bargaining power of teams in obtaining subsidies from local government, the local politics of attracting and retaining teams, the relationship between sports and local employment, and the importance of stadium design in influencing the economic impact of a facility.The second part of the book contains case studies of major league sports facilities in Baltimore, Chicago, Cincinnati, Cleveland, Indianapolis, San Francisco, and the Twin Cities, and of minor league stadiums and spring training facilities in baseball. The primary conclusions are: first, sports teams and facilities are not a source of local economic growth and employment; second, the magnitude of the net subsidy exceeds the financial benefit of a new stadium to a team; and, third, the most plausible reasons that cities are willing to subsidize sports teams are the intense popularity of sports among a substantial proportion of voters and businesses and the leverage that teams enjoy from the monopoly position of professional sports leagues.

    Basing his work on histories of these four tax expenditures, Howard highlights the distinctive characteristics of all such policies. Howard helps the reader to appreciate the historic links between the hidden welfare state and U.S. tax policy, which accentuate the importance of Congress and political parties. He also focuses on the reasons why individuals, businesses, and public officials support tax expenditures. The Hidden Welfare State will appeal to anyone interested in the origins, development, and structure of the American welfare state.

    Boyer's text reflects transportation economics as it is taught and practiced today. Unlike its many predecessors, its arguments do not discuss the practice of economic regulation. Legal issues and concerns of regulatory process are no longer a central part of transportation economics, and this book reflects this shift. The analysis covers the modern developments of subsidy-free pricing and stand-alone costing.

    This is a collection of trading systems and techniques with specific entry and exit rules. TradeStation "TM" code is provided for most, and TradeStation "TM" users will have a field day working with this collection of original ideas.

    Unlike traditional game theory models, which assume that all players are fully rational and have complete knowledge of details of the game, evolutionary models assume that people choose their strategies through a trial-and-error learning process in which they gradually discover that some strategies work better than others. In games that are repeated many times, low-payoff strategies tend to be weeded out, and an equilibrium may emerge. Larry Samuelson has been one of the main contributors to the evolutionary game theory literature. In Evolutionary Games and Equilibrium Selection, he examines the interplay between evolutionary game theory and the equilibrium selection problem in noncooperative games. After providing an overview of the basic issues of game theory and a presentation of the basic models, the book addresses evolutionary stability, the dynamics of sample paths, the ultimatum game, drift, noise, backward and forward induction, and strict Nash equilibria.

    With a unique step-by-step learning format and algebraic expressions, the text clearly presents mathematical computations and examples that will assist the student in mastering financial concepts and formulas.

    The hemp revolution is happening, despite the efforts of politicians and law-enforcement agencies to stop it. Medical marijuana initiatives on the ballots in California and Arizona passed with overwhelming support. All around the globe this miracle plant is creating industries for food, fuel, clothing, housing, and paper that are beneficial to both humanity and the environment. Designed to fit into the back pocket of your hemp jeans, The Hemp Manifesto offers 101 ways that hemp is making a positive impact on society, and explains why in brief summaries simple enough for even congressional representatives to understand. Included are all the most surprising facts about the plant--how the Declaration of Independence was written on hemp paper; how the U.S. government grows marijuana and supplies it to eight people free of charge; how hemp seeds are the most complete source of protein and essential fatty acids known in the vegetable kingdom; and many more. The Hemp Manifesto gives the people their most important weapon in the fight for a healthy future: the truth. Small and affordable--a perfect small gift. Wars of disinformation are still being waged against this useful plant and its industries, and the real facts can be difficult to find. The Hemp Manifesto prints the simple truth.

    He presents a systematic treatment of the conceptual framework as well as the practical problems of measurement of inequality. In his masterful analysis, Senassesses various approaches to measuring inequality and delineates the causes and effects of economic disparities. Containing the four lectures from the original edition as well as a new introduction, this timeless study is essential reading for economists, philosophers, and social scientists. In a substantial new annexe, Amartya Sen, jointly with James Foster, critically surveys the literature that followed the publication of this book, and also evaluates the main analytical issues in the appraisal of economic inequality and poverty.

    It provides a unique approach to the subject of options, seen purely from a volatility viewpoint. Clearly explains the connection between volatility and options without recourse to complex maths. An accessible guide for students, it also offers experts a fresh look at instruments they have been trading for years. Contains risk management software (Microsoft excel) on disk similar to the high price commercial versions.

    EconCentral equips learners with a portal to a wealth of resources that help them both study and apply economic concepts. As they read and study the chapters, students can access video tutorials, review with flash cards and a graphing tool as well as check their understanding of the chapter with interactive quizzing. All the study and application resources in EconCentral are organized by chapter to help your students get the most from our text.

    This volume in the Problems in American Civilization series is a well-balanced anthology of essays on industrialization in the U.S.

    Each article has been carefully chosen to provide the reader with accessible, non-technical, and reflective papers which critically assess important areas and current controversies within modern macroeconomics.The book is divided into six parts, each with a separate introduction highlighting the relevance of the ensuing articles. The areas covered include: Keynes's General Theory, Keynesian economics and the Keynesian revolution; monetarism; rational expectations and new classical macroeconomics; real business cycle approaches: New Keynesian economics: economic growth.This book will be an essential guide for students and lecturers in the field of macroeconomics as well as those interested in the history of economic thought.

    In this comprehensive collection of essays, most of which appear for the first time, eminent scholars from many disciplines philosophy, economics, sociology, political science, demography, theology, history, and social psychology examine the causes, nature, and consequences of present-day consumption patterns in the United States and throughout the world. Specifically, the essays evaluate the impact of consumption practices on our own lives, our institutions, other people, and the environment. The contributors give explicit attention to the principles relevant for a consumption ethic, as well as to the policies and practices that such an ethic permits or requires. These engaging, jargon-free essays frame the problem of consumption in a variety of ways, challenging readers to see the issue from new perspectives. For scholars and students from across the disciplines, as well as for environmental and consumer activists, this volume will serve as the touchstone for discussions of consumption and global stewardship.

    Rejecting the common assumption that wartime domestic legislation was a series of piecemeal reactions to wartime necessities, Heather Cox Richardson argues that party members systematically engineered pathbreaking laws to promote their distinctive theory of political economy.Republicans were a dynamic, progressive party, the author shows, that championed a specific type of economic growth. They floated billions of dollars in bonds, developed a national currency and banking system, imposed income taxes and high tariffs, passed homestead legislation, launched the Union Pacific railroad, and eventually called for the end of slavery. Their aim was to encourage the economic success of individual Americans and to create a millennium for American farmers, laborers, and small capitalists.However, Richardson demonstrates, while Republicans were trying to construct a nation of prosperous individuals, they were laying the foundation for rapid industrial expansion, corporate corruption, and popular protest. They created a newly active national government that they determined to use only to promote unregulated economic development. Unwittingly, they ushered in the Gilded Age.

    Analyzing both the making of economic policy at the national level and the implementation of specific policies on the shop floor, he provides new and essential background to the revolution of 1989. In particular, he shows how decisions made at critical junctures in East Germany's history led to a pattern of economic decline and worker dissatisfaction that contributed to eventual political collapse. East Germany was generally considered to have the most successful economy in the Eastern Bloc, but Kopstein explores what prevented the country's leaders from responding effectively to pressing economic problems. He depicts a regime caught between the demands of a disaffected working class whose support was crucial to continued political stability, an intractable bureaucracy, an intolerant but surprisingly weak Soviet patron state, and a harsh international economic climate. Rather than pushing for genuine economic change, the East German Communist Party retreated into what Kopstein calls a 'campaign economy' in which an endless series of production campaigns was used to squeeze greater output from an inherently inefficient economic system.Originally published in 1996.A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.

    It is common knowledge that there is frequently a troubling divide between what Western developers think development entails and how those people affected understand the ensuing processes.By treating development as problematic, this book seeks to generate new insights into the relationships between the various parties involved and to enhance understanding of the ways in which particular 'discourses of development' are generated. Authors raise provocative questions about the relationship of politics, power, ideology and rhetoric to the institutional practice of development. These hegemonic considerations are shown to have a profound effect on the 'culture of aid' and the interface between development personnel and those whom development is supposed to benefit.

    There is less consensus about the economic performance since then, though the ability of the South to sustain a significant population increase for the first time since the Great Famine may reflect relative success.

    Offers sometimes controversial obserations on the history and doctrines of antitrust law, and conclusions as to how successfully the dilemma is being managed by the economies of the US and Europe. Amato is head of the Italian Antitrust Authority, a professor of law at the European University Institute in Florence, Italy, and a former Prime Minister of Italy.

    

    A former Treasury department official offers an insider's chronicle of the recent history of the tax system, shows how politicians have used it for their own ends, and evaluates the effects of current proposals for tax reform on average taxpayers.

    Here a scholar of the economics of socialism and post-socialist transition, and a health economist take on this challenge. They offer health sector reform recommendations for ten countries of Eastern Europe, drawn from nine guiding principles. The authors conclude that policymakers need to achieve a balance, both assuring social solidarity through universal access to basic health services and expanding individual choice and responsibility through voluntary supplemental insurance.

    He provides a measured assessment of multinational managements’ strategies to downsize, introduce flexible production and compel workers to accept less pay for more work. He emphasizes the need, in the face of these changes, for renewal and international coordination among national unions and provides examples, from North America, Latin America, Europe and Asia, of how this has been achieved.A bracing riposte to the conventional wisdom concerning the irresistible power of globalization, Workers in a Lean World is a definitive account of contemporary labor relations on a global scale.

    It discusses development from the colonial era to the present in Latin America, Asia and Africa. Encompassing a blend of classical development ideas and current theory, the book helps students gain the type of balanced picture disallowed them by other textbooks.A close examination of recent events is integral to the book, with discussions ranging from the environment to the debt crisis, and from export-led industrialization to import substitution, endogenous growth theory and technological capability. Throughout, the authors focus on income distribution, poverty, and social issues and the book has an readable style and format.

    In his own words “the three-fold crisis – the crisis of resources, the ecological crisis, and the social crisis” is upon us.

    It emphasizes motivation, understanding, and implementation and shows readers how economic data are used with economic and statistical models as a basis for estimating key economic parameters, testing economic hypotheses and predicting economic outcomes.

    For managers and policymakers, Imitation to Innovation is rich with examples and insights on how to build and sustain the knowledge and capabilities that lead to global advantage. The book also offers many new theories related to organizational learning, technology development, and industrialization.

    Theologians and biblical scholars have often pondered the dangers and the privileges of money. But few have focused on consumption as culture or a way of life, complete with its own set of attitudes, behaviors and purposes for living. The Consuming Passion does exactly that, relying on insightful theologians, psychologists, sociologists, ecologists and economists to probe beneath and better understand what makes consumer culture work - and how people of faith might best respond.

    The authors provide a richly detailed account of the social and economic history of the Ottoman region, from the origins of the Empire around 1300 to the eve of its destruction during World War One. The breadth of range and the fullness of coverage make these two volumes essential for an understanding of contemporary developments in both the Middle East and the post-Soviet Balkan world. The text of volume one is by Halil Inalcik, covering the period 1300-1600. The second volume, written by Suraiya Faroqhi, Bruce McGowan, Donald Quataert and Sevket Pamuk, continues the story to 1914. Each volume examines developments in population, trade, transport, manufacturing, land tenure and the economy, and extensive apparatus and bibliographic information is provided for students and others wishing to pursue the subject in more detail. Both volumes will be fundamental to any future discussion of any aspect of Ottoman history.

    As economics and trade now loom larger than nuclear stockpiles or Cold War ideology, those countries with the fastest growing economies have begun to rewrite the rules of power and influence in the world. These nations are the Big Emerging Markets, and for too long we have failed to recognize their importance. We can no longer afford that luxury.The Big Ten is the essential guide to the ten most important Big Emerging Markets. Jeffrey E. Garten, the Dean of the Yale School of Management and the former Under Secretary of Commerce for International Trade, explains who they are, why they have burst onto the world scene, and how they will reshape the world in the twenty-first century. The ten countries to watch are spread across the globe: Mexico, Brazil, and Argentina in the Americas; China, India, Indonesia, and South Korea in Asia; Poland and Turkey in Europe; and in Africa, South Africa. The Big Ten are bigger than most people realize: they are home to half the world's population, and the United States exports more products to these countries than to Europe and Japan combined. They also wield immense political influence in many of the world's most critical regions. Moreover, American industrial firms, mutual funds, and pension plans have begun to invest heavily in these dynamic economies, making our own prosperity increasingly dependent on theirs.While the Big Ten offer new opportunities for the United States, Garten observes their potential political instability could create economic havoc around the world. In addition, they pose powerful ethical and strategic dilemmas. The BEMs do not share our values regarding human rights, child labor, corruption, or environmental degradation, and our growing contacts with these societies are sure to violate our notions of fairness and our moral sensibilities. And as the Big Ten grow and mature as regional powers, they will pose unprecedented challenges to American global leadership.Drawing on his first-hand experiences at the highest levels of government, finance, and academia, Garten advances a comprehensive plan for America to meet the challenges of this emerging new world. he addresses the critical questions facing American policy makers, business executives, educators, and concerned citizens, and he outlines the bold changes that will be necessary if we are to control our national destiny in the decades to come. The Big Ten will help readers understand the importance of NAFTA, the rise of China, the connection between trade and human rights, and the imperatives for American foreign policy, business, and higher education. Packed with powerful insights and real-life stories from the front lines of international commerce, The Big Ten will redefine the way we think about America's global role in the twenty-first century.

    New expanded edition of a classic anthropology title that examines ethnicity as a dynamic and shifting aspect of social relations.

    

    The world is being sliced up by the corporations, and the corporations are being sliced up by Thexoll, a megalomaniac with designs on godhood. A backlash movement is forming in the streets. The people are ready to take back what is theirs. Into the middle of the chaos comes Hans. He's already lived through rioting and upheaval, and now he just wants to disappear. Unfortunately, with assassination plots, underground newspapers, and a secret, yet volatile, family history, the anonymity Hans desires may be an impossibility. This complex and challenging collection was crafted by the award-winning writer/artist team whose unique visual style has graced the pages of Grendel and Exquisite Corpse. A special section of sketches featuring the Pander brothers' early design concepts and character development will be included in this impressive volume.

    Translating key speeches and articles from the political debates surrounding Indonesian economic development, the authors present and analyse trends in development thinking by leading Indonesian figures over the last thirty years.

    It offers an integrated analysis of dynamics that includes many more exercises and examples and a more comprehensive range of applications to economic theory. The user-friendly text is supported by a companion website offering a solutions manual and learning tools for teachers, students and researchers. First Edition Hb (1997): 0-521-47446-9 First Edition Pb (1997): 0-521-47973-8

    This major book addresses this convergence and analyzes the implications for the future of capitalist diversity. It considers important questions such as: Is the preference for free markets a well-founded response to intensified global competition? Does this mean that all advanced societies must all converge on an imitation of the United States? What are the implications for the institutional diversity of the advanced economies?Political Economy of Modern Capitalism provides a practical and informed analysis of the public policy choices facing governments and business around the world.

    Yet he is best known-and generally dismissed-today as a rake, duellist, and gambler. This intellectual biography offers a new approach to Law, one that shows him to have been a significant economic theorist with a vision that he attempted to implement as policy in early-eighteenth-century Europe.Law's style, marked by a clarity and use of modern terminology, stands out starkly against the turgid prose of many of his contemporaries. His vision of a monetary and financial system was certainly one of a later age, for Law believed in an economy of banknotes and credit where specie had no role to play. Ultimately Law failed as a policy-maker, in part because of the entrenchment of the financiers and their aristocratic backers and in part because of theoretical flaws in his vision. His struggle for power took place against the background of Europe's first major stock boom and collapse. The collapse of the Mississippi System, which he had conceived, and the South Sea Bubble led to a lasting impression of Law as a failure. It is this impression that Antoin Murphy seeks to dispel.

    In spite of its importance in the information age, there is no consensus on what information is, what makes it possible, and what it means for one medium to carry information about another. Drawing on ideas from mathematics, computer science, and philosophy, this book addresses the definition and place of information in society. The authors, observing that information flow is possible only within a connected distribution system, provide a mathematically rigorous, philosophically sound foundation for a science of information. They illustrate their theory by applying it to a wide range of phenomena, from file transfer to DNA, from quantum mechanics to speech act theory.

    Porter's ideas have prompted endorsement as well as criticism. More importantly, they have inspired a search for new solutions to inner city distress as well as a reassessment of current approaches. The Inner City defines a core debate in the United States over the future of a racially divided urban America. It is of inestimable importance to policy analysts, government officials, African American studies scholars, urban studies specialists, sociologists, and all those concerned with inner city revitalization.

    The book covers the Gilded Age and Progressive Era through the Spanish-American War and World War I.

    Reviews the epistemological ideas that inspired the classical economists: the methodological principles of Bacon, Descartes, Hobbes, Newton, Locke, Hume, Stewart, Herschel, and Whewell.

    What accounted for this? For many social analysts, the history of post-Famine Irish depopulation was a Malthusian morality tale where declining living standards led young people to postpone marriage out of concern for their ability to support a family. The problem here, argues Timothy Guinnane, is that living standards in post-Famine Ireland did not decline. Rather, other, more subtle economic changes influenced the decision to delay marriage or not marry at all. In this engaging inquiry into the "vanishing Irish, " Guinnane explores the options that presented themselves to Ireland's younger generations, taking into account household structure, inheritance, religion, cultural influences on marriage and family life, and especially emigration.

    He examines a wide variety of policy alternatives and proffers his own creative solutions.

    He has made important contributions to economic history, cultural economics, the history of economic thought, the methodology of economics and the economics of education.Not Only an Economist reflects the wide range of Professor Blaug's interests and includes new and recent work on Adam Smith, Hayek and Keynes and studies in methodology, as well as new contributions to the economics of education. These are supplemented by essays arguing the economic case for subsidies to the arts. The book concludes with a selection from the one hundred book reviews that he has written over the years.

    Why do profit-seeking companies pay retirement benefits to those no longer on the job? In this new institutional history, Steven Sass explores the rise and growth of the financial support system that today commands trillions of dollars of investment capital and supports hundreds of thousands of older Americans.Before 1900 America's elderly derived their livelihood from simple sources. They worked if they could, relied on their children, and took charity if necessary. By the dawn of the twentieth century, however, the country was constructing a new industrial economy. Both laborers and capital were moving away from farms toward large corporate establishments. These market changes weakened family links and traditional skills, rendering workers more vulnerable to economic shocks. The elderly, in particular, fell out of step with the new mechanized and bureaucratic regime. It was in response to these dramatic economic shifts that the institution of private pensions emerged. In return for workers' long-term loyalty, employers promised to help sustain them through old age.As Sass shows, creating the pension system proved far more complicated than anyone had anticipated. Over the last hundred years it has evolved into a complex institution driven by congressional mandates, judicial/administrative decisions, union campaigns, political debates, and the ministrations of lawyers, economists, human resource specialists, actuaries, and insurance experts. Sass traces the U.S. pension system through to the present day, exploring how our modern corporate economy is confronting the challenges of an aging population.

    The results of the policy were paternalistic practices and forms of compensation designed not only to control workers, but also to advertise the humanity of corporate capitalism to thwart the advance of legislated reform. In a burgeoning literature on the development of the U.S. welfare state, Andrea Tone offers a new interpretation of the importance of welfare capitalism in shaping its development.

    

    Predicting the Future considers the anthropological and historical background of the predictive enterprise. It also examines the conceptual epistemic, and ontological principles that set the stage for predictive efforts. In short, Rescher explores the basic features of the predictive situation and considers their broader implications in science, in philosophy, and in the management of our daily affairs.

    Individuals clearly make mistakes and legislatures make bad laws, but the institutions from which decisions and laws emanate determine the effectiveness of social operations and the value of social decisions. Unless we change the present institutional structure, we are not likely to get stable solutions to today's most serious problems--ongoing and often erratic inflation and serious banking instability. Money and the Nation State examines the history of modern monetary and banking arrangements, some of the major monetary and banking problems, and options for meaningful reform.The common theme of all the essays is that current arrangements result less from the accomplishments of great men than man-made institutions that society has inherited--central banks and "the legal and regulatory frameworks that accompany them. The contributors emphasize the impact of political interference on the workings of monetary and financial institutions. Not surprisingly, they find many problems arise because politically generated structures are inappropriate to the real needs of the individuals and groups they are meant to serve. Money and the Nation State provides an essential framework for those willing to return to first principles in thinking about the role of monetary institutions in economic life. Economists, financial theorists, and the interested citizen will find it stimulating reading.