It is not a comforting book but a book about disturbing and dangerous trends. The Quest for Cosmic Justice shows how confused conceptions of justice end up promoting injustice, how confused conceptions of equality end up promoting inequality, and how the tyranny of social visions prevents many people from confronting the actual consequences of their own beliefs and policies. Those consequences include the steady and dangerous erosion of fundamental principles of freedom - amounting to a quiet repeal of the American revolution. The Quest for Cosmic Justice is the summation of a lifetime of study and thought about where we as a society are headed - and why we need to change course before we do irretrievable damage.

    Kevin Bales's disturbing story of contemporary slavery reaches from Pakistan's brick kilns and Thailand's brothels to various multinational corporations. His investigations reveal how the tragic emergence of a "new slavery" is inextricably linked to the global economy. This completely revised edition includes a new preface.All of the author's royalties from this book go to fund antislavery projects around the world.

    Rather, it is a late and localized product of very specific historical conditions, which required great transformations in social relations and in the human interaction with nature.This new edition is substantially revised and expanded, with extensive new material on imperialism, anti-Eurocentric history, capitalism and the nation-state, and the differences between capitalism and non-capitalist commerce. The author traces links between the origin of capitalism and contemporary conditions such as globalization, ecological degradation, and the current agricultural crisis.

    Freedom, Sen argues, is both the end and most efficient means of sustaining economic life and the key to securing the general welfare of the world's entire population. Releasing the idea of individual freedom from association with any particular historical, intellectual, political, or religious tradition, Sen clearly demonstrates its current applicability and possibilities. In the new global economy, where, despite unprecedented increases in overall opulence, the contemporary world denies elementary freedoms to vast numbers—perhaps even the majority of people—he concludes, it is still possible to practically and optimistically regain a sense of social accountability. Development as Freedom is essential reading.

    McCloskey s systematic treatment provides a range of insights and practical advice for better writing by scholars in every field.

    They argue that from the middle of the 1970s onwards, capitalism abandoned the hierarchical Fordist work structure and developed a new network-based form of organization which was founded on employee initiative and autonomy in the workplace – a ‘freedom’ that came at the cost of material and psychological security.The authors connect this new spirit with the children of the libertarian and romantic currents of the late 1960s (as epitomised by dressed-down. cool capitalists such as Bill Gates and ‘Ben and Jerry’) arguing that they practice a more successful and subtle form of exploitation.In a work that is already a classic in Europe, Boltanski and Chiapello show how the new spirit triumphed thanks to a remarkable recuperation of the Left’s critique of the alienation of everyday life – a recuperation that simultaneously undermined the power of its social critique.

    A collection of essays that discusses such issues as the media, immigration, the minimum wage and multiculturalism.

    It bridges the gap between the mechanics of econometrics and modern applications of econometrics by employing a systematic approach motivated by the major problems facing applied researchers today. Throughout the text, the emphasis on examples gives a concrete reality to economic relationships and allows treatment of interesting policy questions in a realistic and accessible framework.

    Williams once again takes on the left wing's most sacred cows with provocative insights, brutal candor, and an uncompromising reverence for personal liberty and the principles laid out in our Declaration of Independence and Constitution.

    The volume is a trilogy on the causes of hunger, the role public action can play in its alleviation, and the Indian experience in this context. Together the three works provide a comprehensive theoretical and empirical analysis of relevant developmental issues.

    Fictional experts recruited by world leaders to discuss the future of global capitalism provide their assessment of the dire state of the current economy and put forward new ideas for ensuring the survival of the system. But at what cost? Susan George provides a brilliant and chilling vision of the way the winners in the globalisation game profit from poverty and reveals, with relentless logic, the dark future that lies ahead under capitalism. This new edition features a new introduction from the author.

    He explains the projected expansion of the EU into a set of first and second class countries, incapable of any political action independent of the United States; and he analyses the catastrophic social and economic effects of the neo-liberal ‘Shock Therapy’ imposed on Russia and Eastern Europe, with devastating results.Far from being an unstoppable natural force against which every nation state is powerless, Gowan argues compellingly that the process of globalisation has been relentlessly driven forward by the enormous political power of the US state and business interests in a highly conscious bid to extend their strategic dominance over the world economy. He shows how the international finance system—the ‘Dollar-Wall Street Regime’—created out of the ashes of Breton Woods has been exploited as a political lever to open up local economies to US products and speculative flows of ‘hot’ money, and demonstrates how each financial crisis over the last ten years has been used by the Washington-Wall Street axis to force through dramatic economic and social re-engineering in the targeted countries. While posing as a benign economic education for ‘developing’ economies, US-led rescue packages in fact leave these countries seriously weakened, destroying national industrial sectors while elevating to power such local rentier interests as the Russian mafia-capitalists and leaving the already fragile social tissue of many of these companies irreparably damaged.This masterly survey, both bold and compelling, will become a landmark in the debate on the new world order threatening the twenty-first century.

    Here McCulloch's authoritative Life and Writings of Mr. Ricardo prefaces this collection of Ricardo's pamphlets and other works, including his influential treatise on the distribution of wealth, The Principles of Political Economy and Taxation.

    The Theory of Monetary Institutions covers free banking monetary thought and a theoretical account of the evolution of monetary institutions.

    Your Money or Your Life: Why We Must Abolish the Income Tax shows where the income tax and the IRS came from, and recounts not only how they came to be but why. What makes Richman's analysis different is that he shows that the special evils of the IRS and income tax are not accidental, something that can be eliminated just by putting the right people in charge or by offering a few reforms here and there. They are intrinsic to the purpose for which the IRS and the income tax exist. And that's why Richman proposes that the whole thing just be repealed. This book shows how the income tax makes you poorer. Reading Richman's discussion of it will make you richer.

    The law has been amended, new underlying crimes have been added, and court decisions have modified its scope. The Act remains an important tool in combating criminal activity. Now in its third edition, Money Laundering: A Guide for Criminal Investigators covers the basics of finding ill-gotten gains, linking them to the criminal, and seizing them. Providing a clear understanding of money laundering practices, it explains the investigative and legislative processes that are essential in detecting and circumventing this illegal and dangerous activity. Highlights of the Third Edition include Important court decisions and changes in federal law since the Second Edition New trends in crime and terrorism financing The rise of money laundering in connecting with major frauds, including the Bernie Madoff case Law and policy shifts related to terrorism and financing since the Obama administration New methods for financial intelligence and the filing of Suspicious Activity Reports How changes in technology have enabled launderers to move funds more easily and anonymously Knowledge of the techniques used to investigate these cases and a full understanding of the laws and regulations that serve as the government’s weapons in this fight are essential for the criminal investigator. This volume arms those tasked with finding and tracing illegal proceeds with this critical knowledge, enabling them to thwart illegal profiteering by finding the paper trail.

    It provides the information needed to evaluate the economics and ethics of alternative billing methods. Professionals are provided with the information they need to analyze the variety of billing methods and select amongst them with respect to their individual practices and clients. The book contains detailed information on: value pricing consulting; revenue management through value pricing; electronic commerce pricing; and the relationship between total quality service and value pricing; as well as fully demonstrating the shift from hourly billing to value pricing.

    Many of Buchanan’s most important essays are gathered in this inaugural volume of the twenty-volume series from Liberty Fund of his Collected Works.The essays are arranged thematically and so present a complete perspective on Buchanan’s work. The six sections include:IntroductionPolitics without RomancePublic Finance and Democratic ProcessThe Economist and Economic OrderEthics and EconomicsThe Reason of RulesThe editors have focused on papers that Buchanan has written without collaboration and which present Buchanan’s earlier, classic statements on crucial subjects rather than his subsequent elaborations which appear in later volumes in the series. Included, too, is Buchanan’s Nobel address, “The Constitution of Economic Policy,” and the text of the Nobel Committee’s press release explaining why Buchanan was awarded the prize for Economics in 1986. The volume also includes Buchanan’s autobiographical essay, “Better Than Plowing,” in which he gives not only a brief account of his life, but also his own assessment of what is important, distinctive, and enduring in his work. The foreword by the three series editors will be valuable to all readers who wish to engage the challenging but epochal writings of the father of modern public choice theory.James M. Buchanan (1919–2013) was an eminent economist who won the Alfred Nobel Memorial Prize in Economic Sciences in 1986 and was considered one of the greatest scholars of liberty in the twentieth century.

    This groundbreaking book reveals how today's global businesses can be both environmentally responsible and highly profitable.

    From Alexander Hamilton to Michael Milken, the history of Wall Street is a history of risk, courage, avarice, patriotism, power, genius, and, occasionally, remarkable stupidity. In Gordon, Wall Street has finally found a biographer worthy of its extraordinary story.

    Unveiling the hidden perversities of our lifelong tax experience, the author takes a cultural examination of the way taxes influence behavior, and how they force people into an arbitrary system that punishes middle-class families.

    As a consequence of such predatory policies--described in this book as the grabbing hand of the state--entrepreneurship lingers and economies stagnate.The authors of this collection of essays describe many of these pathologies of a grabbing hand government, and examine their consequences for growth. The essays share a common viewpoint that political control of economic life is central to the many government failures that we observe. Fortunately, a correct diagnosis suggests the cures, including the best strategies of fighting corruption, privatization of state firms, and institutional building in the former socialist economies. Depoliticization of economic life emerges as the crucial theme of the appropriate reforms. The book describes the experiences with the grabbing hand government and its reform in medieval Europe, developing countries, transition economies, as well as today's United States.

    Today, citizens and travelers in California take for granted skies empty of almost everything but the contrails of airplanes. But far more than wildlife is missing from California today. In text and photographs, Farewell, Promised Land documents the stark contrast between the California landscape of this past and what it has become, as it traces the evolution of the California environment, and looks ahead to what the future holds.When writer Gray Brechin and photographer Robert Dawson received the 1992 Dorothea Lange-Paul Taylor Prize from Duke University's Center for Documentary Studies, they began a five-year project of driving and flying around California to record the present state of its environment. This book is the result of that collaboration. In six thematic chapters dealing with Loss, Mining, Farming, Cities, Energy, and Health, the authors provide a sobering look at California's environment. A concluding chapter introduces individuals and organizations now attempting to redeem the state from its present course.Farewell, Promised Land is a superb vehicle for communicating the causes, context, and seriousness of environmental and social disruptions in California. It is unique in that it successfully documents topics such as energy, health, and cities, and brings this information directly to bear on environmental issues. Appealing to the intellect as well as to our sense of aesthetics, Brechin and Dawson provide a timely wake-up call in this brave, honest, and straightforward assessment of California's fate.

    History reveals, however, that it has been conquered before and returned. In The Conquest of American Inflation, Thomas J. Sargent presents a groundbreaking analysis of the rise and fall of U.S. inflation after 1960. He examines two broad explanations for the behavior of inflation and unemployment in this period: the natural-rate hypothesis joined to the Lucas critique and a more traditional econometric policy evaluation modified to include adaptive expectations and learning. His purpose is not only to determine which is the better account, but also to codify for the benefit of the next generation the economic forces that cause inflation.Sargent begins with an explanation of how American policymakers increased inflation in the early 1960s by following erroneous assumptions about the exploitability of the Phillips curve--the inverse relationship between inflation and unemployment. In subsequent chapters, he connects a sequence of ideas--self-confirming equilibria, least-squares and other adaptive or recursive learning algorithms, convergence of least-squares learners with self-confirming equilibria, and recurrent dynamics along escape routes from self-confirming equilibria. Sargent synthesizes results from macroeconomics, game theory, control theory, and other fields to extend both adaptive expectations and rational expectations theory, and he compellingly describes postwar inflation in terms of drifting coefficients. He interprets his results in favor of adaptive expectations as the relevant mechanism affecting inflation policy.Providing an original methodological link between theoretical and policy economics, this book will engender much debate and become an indispensable text for academics, graduate students, and professional economists.

    But its roots stretch back to the late-scholastic period, when philosophers first began to think systematically about the relationship between human choice and material resources. This collection presents ideas from the full sweep of this intellectual history, highlighting 15 thinkers who made the greatest contribution to advancing the Austrian School of economics. These original essays are written by top Austrians who explain the Austrian view of property, markets, prices, competition, entrepreneurship, business cycles, and government policy. Contributors include Murray Rothbard, Israel Kirzner, Joseph Salerno, Hans Hoppe, Jeffrey Herbener, Peter Klein, Mark Thornton, Jesus Huerta de Soto, Larry Sechrest, John Egger, Roger Garrison, Shawn Ritenour, Thomas DiLorenzo, and Jeffrey Tucker. Economists covered are de Mariana, Cantillon, Turgot, Say, Bastiat, Menger, Wicksteed, Boehm-Bawerk, Fetter, Mises, Hazlitt, Hayek, Hutt, Roepke, and Rothbard This book has been such a successful introductory text that it is the primary required reading for students attending the Mises University. It provides an opportunity to discover the main ideas of the School through the lives and works of its primary expositors. ISBN 0-945466-04-8 258 pgs.

    The growing availability of credit in this century, however, has brought those days to an end--undermining traditional moral virtues such as prudence, diligence, and the delay of gratification while encouraging reckless consumerism. Or so we commonly believe. In this engaging and thought-provoking book, Lendol Calder shows that this conception of the past is in fact a myth.Calder presents the first book-length social and cultural history of the rise of consumer credit in America. He focuses on the years between 1890 and 1940, when the legal, institutional, and moral bases of today's consumer credit were established, and in an epilogue takes the story up to the present. He draws on a wide variety of sources--including personal diaries and letters, government and business records, newspapers, advertisements, movies, and the words of such figures as Benjamin Franklin, Mark Twain, and P. T. Barnum--to show that debt has always been with us. He vigorously challenges the idea that consumer credit has eroded traditional values. Instead, he argues, monthly payments have imposed strict, externally reinforced disciplines on consumers, making the culture of consumption less a playground for hedonists than an extension of what Max Weber called the iron cage of disciplined rationality and hard work.Throughout, Calder keeps in clear view the human face of credit relations. He re-creates the Dickensian world of nineteenth-century pawnbrokers, takes us into the dingy backstairs offices of loan sharks, into small-town shops and New York department stores, and explains who resorted to which types of credit and why. He also traces the evolving moral status of consumer credit, showing how it changed from a widespread but morally dubious practice into an almost universal and generally accepted practice by World War II. Combining clear, rigorous arguments with a colorful, narrative style, Financing the American Dream will attract a wide range of academic and general readers and change how we understand one of the most important and overlooked aspects of American social and economic life.

    economy The book is a heroic attempt to organize the relevant facts about black economic involvement in the U.S. economy. Its major objective is the construction of a theoretical framework for explaining the mechanisms by which the black population of the United States reproduces itself as a black population. Who they are today and what survival strategies keep breath in their bodies are consequences of a set of historical forces which have generated them out of some primordial earth matter about three million years ago, propelled them through many and varied social-economic formations, and finally solidified their present defining characteristics as well as their physical location within the bowels of the most powerful capitalist nation that the world has ever known. Previous economic-theoretic works in this field have concentrated on a set of isolated data, mainly centering around black-white differences in various measures of economic performance or rewards. This book, on the other hand, develops a systematic framework for understanding black people as a distinct population in historical transition from primordial beginnings in Africa, through slave labor in North America, thence undergoing a sharecropping existence, and finally being transformed into a full-fledged wage-working population. The method exploits the rich and changing history of blacks as a people. At the same time, it emphasizes their survival activities which are peculiar to each historical epoch in their development. A major conclusion of the book is that black people have been locked in an historical embrace over the centuries, reproducingamong themselves to the exclusion of all other people, undergoing a set of transformations which brought them from slavery through sharecropping and thence into the American wage-working class. This perspective makes for a deeper understanding of the racial oppression which they have experienced. At the same time it provides insights into the progressive elimination of the racist malaise over time. The book ends with some interesting speculations about the future of blacks in the U.S. "There is no single source available which attempts to establish fundamental theoretical principles for approaching the new discipline of black political economy with the same skill and methodology presented here," said Manning Marable, author of How Capitalism Underdeveloped Black America (South End Press, 1983) "I think that the book is a tremendous advance over the entire body of literature currently availble on the subject."

    Key issues addressed include: growth economics; misunderstandings of thermodynamics; economic development and population; globalization; money; and humans in the ecosystem.

    Abhinay Muthoo provides a masterful synthesis of the fundamental results and insights obtained from the wide-ranging and diverse (game-theoretic) bargaining theory literature. Furthermore, he develops new analyses and results, especially on the relative impacts of two or more forces on the bargaining outcome. Many topics - such as inside options, commitment tactics and repeated bargaining situations - receive their most extensive treatment to date. In the concluding chapter, he offers pointers towards future research. Bargaining Theory with Applications is a textbook for graduate students in economic theory and other social sciences and a research resource for scholars interested in bargaining situations.A major new upper level textbook with global adoption potential on a central economic and social scientific topicAn easy to follow, up-to-date exposition including numerous examples, case studies and pathways designed to allow rigorous and intuitive studyOriginal research--cambridge.org

    Through an analysis of such major Nazi building projects as the Nuremberg Party Rally Grounds and the rebuilding of Berlin, Jaskot ties together the development of the German building economy, state architectural goals and the rise of the SS as a political and economic force. As a result, The Architecture of Oppression contributes to our understanding of the conjunction of culture and politics in the Nazi period as well as the agency of architects and SS administrators in enabling this process.

    From Space to earth tracks the evolution of photovoltaics from its shaky nineteenth-century beginnings mired in scientific controversy, to its high visibility success in the space program, to its current position as an indispensable and versatile power source that is improving our daily lives.

    Meticulously researched, the volume presents a counter-argument to the regime of economic reform. Michael Pusey's sequel is as controversial as his best-selling Economic Rationalism in Canberra.

    It introduces the reader to the main concepts, notions and results of stochastic financial mathematics, and develops applications of these results to various kinds of calculations required in financial engineering. It also answers the requests of teachers of financial mathematics and engineering by making a bias towards probabilistic and stastical ideas and the methods of stochastic calculus in the analysis of market risks.

    Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry.

    And just as the New York Times bestseller The Wall Street Guide to Understanding Personal Finance supplied readers with the right tools to shape their bottom line, The Wall Street Journal Lifetime Guide to Money provides answers for those who want to -- or need to -- take control of their financial future. Derived from the newspaper's popular "Your Money Matters" column, written by its veteran personal finance staff, and with topics ranging from building stock portfolios to managing a seemingly endless debt, The Wall Street Journal Lifetime Guide to Money uses an up close and personal approach to money management. The material is presented in a thorough yet accessible manner; key points are illustrated through the use of graphs, charts, and worksheets. The data and advice in this essential handbook is applicable to all citizens regardless of age, gender, earning level, or marital status.

    Ed Opitz could never stomach the one-sided political biases of the seminaries and publications of the mainline churches; yet he retained his civility and his gift for reasoning based on evidence. The history of how "the Social Gospel" captured the mainline churches is presented in the Preface. The Reverend Opitz has long been, and remains, one of the most articulate and deeply thoughtful defenders of a free society.

    At first, socialists and economists took Mises's argument seriously, but by the end of the Second World War, a consensus prevailed that Mises had been discredited. More recently, that consensus has been rapidly reversed: it is now widely agreed that 'Mises was right'. Yet the momentous implications of the Mises argument - for economics, politics, culture, and philosophy - remain largely unexplored. From Marx to Mises is a clear, penetrating exposition of the economic calculation debate, and a scrutiny of some of the broader issues it raises.

    Michael K. Brown contends that our welfare system has in fact denied them the social provision it gives white citizens while stigmatizing them as recipients of government benefits for low income citizens. In his provocative history of America's safety net from its origins in the New Deal through much of its dismantling in the 1990s, Brown explains how the forces of fiscal conservatism and racism combined to shape a welfare state in which blacks are disproportionately excluded from mainstream programs.Brown describes how business and middle class opposition to taxes and spending limited the scope of the Social Security Act and work relief programs of the 1930s and the Great Society in the 1960s. These decisions produced a welfare state that relies heavily on privately provided health and pension programs and cash benefits for the poor. In a society characterized by pervasive racial discrimination, this outcome, Michael Brown makes clear, has led to a racially stratified welfare system: by denying African Americans work, whites limited their access to private benefits as well as to social security and other forms of social insurance, making welfare their main occupation. In his conclusion, Brown addresses the implications of his argument for both conservative and liberal critiques of the Great Society and for policies designed to remedy inner-city poverty.

    Its goal is to explain further the trade-off between various forms of increasing returns and different types of mobility costs. The main focus of the analysis is on cities, but it also explores the formation of other agglomerations, such as commercial districts within cities, industrial clusters at the regional level, and the existence of imbalance between regions.

    As a result, policymakers often lack the guidance of economic theorists. Competition in Telecommunications is written in a style accessible to managers, consultants, government officials, and others. Jean-Jacques Laffont and Jean Tirole analyze regulatory reform and the emergence of competition in network industries using the state-of-the-art theoretical tools of industrial organization, political economy, and the economics of incentives. The book opens with background information for the reader who is unfamiliar with current issues in the telecommunications industry. The following sections focus on four central aspects of the recent deregulatory movement: the introduction of incentive regulation; one-way access (access given by a local network to the providers of complementary segments, such as long-distance or information services); the special nature of competition in an industry requiring two-way access (whereby competing networks depend on the mutual termination of calls); and universal service, in particular the two leading contenders for the competitively neutral provision of universal service: the use of engineering models to compute subsidies and the design of universal service auctions. The book concludes with a discussion of the Internet and regulatory institutions.Copublished with the Center for Economic Studies and the Ifo Institute.

    

    Published in the centenary of his birth, these volumes bring forth some of the economist's most distinguished articles on monetary policy and offer another vital addition to the collection of Hayek's life work. Good Money, Part I: The New World includes seven of Hayek's articles from the 1920s that were written largely in reaction to the work of Irving Fisher and W. C. Mitchell. Hayek encountered Fisher's work on the quantity theory of money and Mitchell's studies on business cycles during a U.S. visit in 1923-24. These articles attack the idea that price stabilization was consistent with the stabilization of foreign exchange and foreshadow Hayek's general critique that the whole of an economy is not simply the sum of its parts. Good Money, Part II: The Standard offers five more of Hayek's articles that advance his ideas about money. In these essays, Hayek investigates the consequences of the "predicament of composition." This principle works on the premise that the entire society cannot simultaneously increase liquidity by selling property or services for cash. This analysis led Hayek to make what was perhaps his most controversial proposal: that governments should be denied a monopoly on the coining of money. Taken together, these volumes present a comprehensive chronicle of Hayek's writings on monetary policy and offer readers an invaluable reference to some of his most profound thoughts about money. "Each new addition to The Collected Works of F. A. Hayek, the University of Chicago's painstaking series of reissues and collections, is a gem."— Liberty on Volume IX of The Collected Works of F. A. Hayek"Intellectually [Hayek] towers like a giant oak in a forest of saplings."—Chicago Tribune"One of the great thinkers of our age who . . . revolutionized the world's intellectual and political life."—Former President George Herbert Walker Bush

    It introduces the different skills required in economics.' G.C. Harcourt, Cambridge University

    Based on extensive travel in the upper Mekong hinterland, it is a fascinating account of the lives of the transport operators, traders, entrepreneurs, and government officials. This ethnographic study is set against an intriguing background of war, revolution, and reform, providing one of the most detailed histories of the upper Mekong borderlands ever written.Contemporary developments in the upper Mekong region are often interpreted in terms of the emergence of a trans-border Economic Quadrangle, characterized by liberalization, integration, and cooperation. This book seeks to go beyond this promotional rhetoric and explore the ambiguities and contradictions in the Quadrangle's development.

    It is intended for historians of Latin America, scholars interested in economic development, and political scientists interested in the political foundations of growth. Hb ISBN (2003): 0-521-82067-7

    Each reading builds upon the foundation of game theory to address similar sets of questions concerning institutions and self-governance. The chapters in the first section lay out interrelated frameworks for analysis. Section two illustrates the normative component of institutions and their effects on human behavior. Readings in the following two sections detail how these frameworks have been applied to models of specific situations. Section five presents a modeling exercise exploring the functions of monitoring and enforcement, and the sixth section discusses approaches to the problems of complexity that confront individuals playing polycentric games. The final readings provide overviews of experimental research on the behavior of rational individuals.Contributors include Arun Agrawal, Sue E. S. Crawford, Clark C. Gibson, Roberta Herzberg, Larry L. Kiser, Michael McGinnis, Stuart A. Marks, Elinor Ostrom, Vincent Ostrom, James Walker, Franz J. Weissing, John T. Williams, and Rick Wilson.Michael McGinnis is Associate Professor, Department of Political Science and Co-Associate Director, Workshop in Political Theory and Policy Analysis, Indiana University.

    Published in the centenary of his birth, these volumes bring forth some of the economist's most distinguished articles on monetary policy and offer another vital addition to the collection of Hayek's life work. Good Money, Part I: The New World includes seven of Hayek's articles from the 1920s that were written largely in reaction to the work of Irving Fisher and W. C. Mitchell. Hayek encountered Fisher's work on the quantity theory of money and Mitchell's studies on business cycles during a U.S. visit in 1923-24. These articles attack the idea that price stabilization was consistent with the stabilization of foreign exchange and foreshadow Hayek's general critique that the whole of an economy is not simply the sum of its parts.Good Money, Part II: The Standard offers five more of Hayek's articles that advance his ideas about money. In these essays, Hayek investigates the consequences of the "predicament of composition." This principle works on the premise that the entire society cannot simultaneously increase liquidity by selling property or services for cash. This analysis led Hayek to make what was perhaps his most controversial proposal: that governments should be denied a monopoly on the coining of money.Taken together, these volumes present a comprehensive chronicle of Hayek's writings on monetary policy and offer readers an invaluable reference to some of his most profound thoughts about money."Each new addition to The Collected Works of F. A. Hayek, the University of Chicago's painstaking series of reissues and collections, is a gem."— Liberty on Volume IX of The Collected Works of F. A. Hayek"Intellectually [Hayek] towers like a giant oak in a forest of saplings."—Chicago Tribune"One of the great thinkers of our age who . . . revolutionized the world's intellectual and political life."—Former President George Herbert Walker Bush

    This book allows full appreciation of the full extent of Young's work because many of his most significant contributions are buried in obscure journals and unsigned articles. This volume addresses this by reprinting much of Young's lost work, as well as other selected pieces that reveal the scope of his vision which encompasses two of the grand themes of economics, growth and money. The volume includes sections on: * the socialist movement * the first world war and its aftermath * money * theories of growth

    The book's focus is on strategic competition and how firms can shelter their market power and economic profits from competitors. This focus establishes the intellectual foundation for determining business practices that warrant antitrust examination and prohibition and underlines recent activist antitrust policy. The author's stress an integrated understanding of industrial organization and the development of students' analytical abilities.

    His best-known works--On Power, Sovereignty, and The Pure Theory of Politics--all made distinctive contributions to our understanding of the modern state, and to the creation of a political science capable of civilizing that state. His work in the field of economics is relatively unknown in the United States, but like many writers in the contemporary field of political economy, de Jouvenel is not interested in expanding the claims of economy at the expense of polity. On the contrary, his thinking is governed by the oldest and most fundamental of political concerns, the definition of the good life.The good life is not a product of the marketplace, but of deliberate and collective decision--that is, a task for thoughtful citizens and statesmen, and not simply the sum of millions of separate and amoral consumer preferences. De Jouvenel is well known for his opposition to the distended state, but he was no anarchist. His eloquent warnings to keep the state in its proper sphere were accompanied by a richly sophisticated discussion of what the proper sphere is--an aspect of his work that comes through very clearly in this volume.Written between 1952 and 1980, the essays range from a discussion of technology to reflections on such fundamental economic concepts as amenity and welfare. They include the deeply theoretical as well as the practical and the concrete. All are informed by de Jouvenel's insistence that a science which seeks to understand the production and distribution of goods must be concerned in the first place with the good itself. Economics and the Good Life is a companion volume to The Nature of Politics: Selected Essays of Bertrand de Jouvenel. Like the earlier volume, this collection is accompanied by an editor's introduction that places the essays in the wider context of de Jouvenel's work. This work is essential to the libraries of economists, political theorists, historians, and sociologists.

    Here its centrality in the literary, artistic and imaginative life of the nation is set side by side with its financial, speculative and economic aspects to provide an original insight into the realities of Victorian life.

    role in that system, how global politics affect hungry people, and the impact of the free market.

    Book by

    These beliefs according to Simon, are entirely wrong. Why do the media report so much false bad news about these? And why do we believe it? Those are the questions distinguished scholar, Julian Simon set out to answer in this book.

    This text looks at the entire spectrum of development economics issues, combining the strengths of conventional developmental thought with the insights of contemporary mainstream economics. The main new conceptual tool used is the application of the theory of imperfect information and the effects this has on the the behaviour of economic agents. This helps to explain why perfect competition models rarely have success when dealing with developing economies. The authors also stress the necessity of balance in dealing with many of the classic problems in development studies - the importance of both the individual as economic agent and cultural norms as the framework of social behaviour; the dual relationship between equity and efficiency in economic policy-making; the importance of market rivalry; and the potential of market breakdown. Designed specifically for graduate students, this book analyzes the key microeconomic problems facing the very poorest sectors of developing economies.

    

    Professor Scharpf supports his position by examining the normative underpinnings of democratic legitimacy and by a detailed analysis of the structural asymmetry between the effectiveness of the legal instruments of `negative integration' which prevents governments from interfering with the free movements of goods, services, capital, and persons and the political constraints impeding positive political action at the European level. This is particularly true for policies pertaining to the welfare state. Governing in Europe explores strategies at the national level that could succeed in maintaining welfare state goals even under conditions of international economic competition, and it also discusses the conditions under which European policy could play a protective and enabling role with regard to these national solutions. The author suggests that if these opportunities should be used, multi-level governance in Europe could indeed regain both effectiveness and legitimacy.

    Tables of values corresponding with various times in the empire's history, a list of Byzantine emperors, and a glossary are also provided.

    The first volume in the groundbreaking and controversial two-volume reader on the connections between social structure and public health.

    Even before the catastrophic collapse of 1997-98, the Thai economic miracle of the previous decade had feet of clay A Siamese Tragedy critique the failing economic system that has propelled the Thai people down an unsustainable path, and looks at how it can build an economic system that cares for its people and its natural resources.

    First, Keith Hylton presents a detailed description of the law as it has developed through numerous judicial opinions. Second, he presents detailed economic critiques of the judicial opinions, drawing heavily from law and economics journals. Third, he integrates a jurisprudential perspective that views antitrust as a vibrant field of common law. This last perspective leads him to address issues of certainty, stability, and predictability in antitrust law, and to examine the pressures shaping its evolution.

    How did the various people and institutions come to own the assets of the nation? What is their share of the assets worth? What are they doing with their share? What does it all mean for the liberty and prosperity of the country? The National Wealth is about money and power. A quick breakdown of the book's contents: * Part One: examines earlier forms of property ownership -- the monarchy, aristocracy, church, universities, the great public schools and the medieval corporations. Includes valuations of their wealth today, and scrutinises today's heritage industry. * Part Two: the State -- the assets of central and local government, from the gold in the vaults of the Bank of England to municipal parks. Analyses consequences of the post-war nationalizations and the privatizations of the 1980s and 90s. * Part Three: the People -- controllers of capital rather than the owners (the boardroom Fat Cats, accountants, lawyers and other professionals who form the richest groups in modern Britain: plus farmers, judges, dentists, teachers, etc.). * Part Four: the Corporate Economy (investment institutions, bankers, brokers, insurance companies, pension funds, charity industry, sporting bodies, etc.).

    It offers analyses based upon primary evidence of the inflationary monetary policy conducted in the US during the period.

    Third Way proposals have often turned out to be no less sterile.

    The street symbolizes the historic triumphs, failures and excesses of capitalism, but it has also been the scene of great human achievements and epic tragedies. Like America itself, The Street has shown almost boundless optimism and tenacity in the face of adversity. It has also revealed a surprising weakness for foolishness along with an unpredictable capacity for bursts of genius, innovation and success. That is why 100 YEARS OF WALL STREET, the story of the world's financial center, is also the story of our American century from our first uncertain steps on the international stage to the responsibilities and challenges we face as the sole superpower at the end of the millennium. The expert and occasionally bemused guide to the story is Charles R. Geisst, who is renowned as a historian, best-selling author, financial scholar and corporate consultant. He is also a gifted storyteller who reveals how the smallest details produce crucial shifts in the big picture. With wit and profound insight, Geisst takes the reader behind the scenes to explain how powerful personalities and unexpected developments created the financial, cultural and social events that helped shape our world. We are the heirs of Wall Street's phenomenal achievement, but it has also fueled runaway greed. It has contributed to growth while scrapping large sectors of the economy. Is the market fair or just? What do such questions really mean? Geisst dramatically brings to life a world that can only be fully understood by following its secret deals, monumental transactions, colorful characters, earth-rattling market collapses and exhilarating highs. There are 200 photographs and other illustrations 100 YEARS OF WALL STREET, many of them rarely reproduced. They portray famous crises, the day-to-day grind and, above all, many of the human beings who toiled, schemed or created wise reforms at the center of global financial activity. The careers and personalities of the century's wealthiest men -- Vanderbilts, Carnegies, Morgans, Milkens, Boeskys -- become an important part of Geisst's fascinating history. On the one hand, there were the Titans who shrewdly built their investments into vast fortunes and just as cleverly built solid public reputations. In contrast were the high-rollers and outlaws who fell off the tightrope, winding up as suicides or bankrupts or convicted felons. Decade-by-decade, with the most important dates highlighted, 100 YEARS OF WALL STREET is a deftly crafted introduction to the compelling true story of The Street. It is also a rich source of little-known anecdotes and new insights for anyone who invests or works in today's financial climate. Geisst places the present in the context of a century of chaos and corruption, leadership and huge losses, insider trading and ticker-tape parades. His unforgettable scandalous tales, hilarious anecdotes and legendary rumors have never been reported in the Dow Jones average. With market levels at astronomical highs, no one can question the powerful role played by Wall Street and its movers and shakers today. For an engaging and solidly researched account of its century-long grip on American history, 100 YEARS OF WALL STREET earns a permanent place in the library of anyone who wants to understand the background of today's bull market and the wide range of possible scenarios for the future.

    From classical optimization to modern game theory, the authors show the increasing importance of mathematical knowledge for sustained competitive advantage in decision making. Students need only a basic understanding of elementary calculus and probability to use the book effectively. Through an imaginative selection of topics, the authors treat decision and game theory as part of one body of knowledge. They move from problems involving the individual decision-maker to progressively more complex problems such as sequential rationality, auctions, and bargaining. By building each chapter on material presented earlier, the authors avoid unnecessary confusion. The first chapter introduces optimization theory with a single decision-maker by using problems from finance and management to illustrate optimization techniques. Chapter two introduces the fundamentals of game theory by developing the theory of strategic form games and their solutions. The authors also present applications from a variety of sources including markets, voting, auctions, and resource extraction. Chapter three is devoted to sequential decision making, followed by two chapters on sequential games. The final chapters cover auctions and bargaining. Successfully class tested in a management science course at the Krannert School of Management, Games and Decision Making is an essential text for professors who need to have their students take a serious look at decision theory, whether at the undergraduate or masters level.

    As the play turns out, Cordelia proves to be an exemplary and loving daughter. A bond is both a legal or financial obligation, and a connection of mutual love. How are these things connected? In As You Like It, Shakespeare describes marriage as a "blessed bond of board and bed": the emotional, religious, and sexual sides of marriage cannot be detached from its status as a legal and economic contract.These examples are the pith of Frederick Turner's fascinating new book. Based on the proven maxim that "money makes the world go round," this engaging study draws from Shakespeare's texts to present a lexicon of common words, as well as a variety of familiar familial and cultural situations, in an economic context. Making constant recourse to well-known material from Shakespeare's plays, Turner demonstrates that the terms of money and value permeate our minds and lives even in our most mundane moments. His book offers a new, humane, evolutionary economics that fully expresses the moral, spiritual, and aesthetic relationships among persons, and between humans and nature. Playful and incisive, Turner's book offers a way to engage the wisdom of Shakespeare in everyday life in a trenchant prose that is accessible to lovers of Shakespeare at all levels.

    

    of Texas-Dallas) offers a level-headed evaluation of a host of potentially disruptive, dangerous, and in some cases lethal, technologies whose functioning depends on management by fallible, vulnerable human beings.

    A unique cooperative research effort that allowed contributors to evaluate different policy rules using their own specific approaches, this collection presents their striking findings on the potential response of interest rates to an array of variables, including alterations in the rates of inflation, unemployment, and exchange. Monetary Policy Rules illustrates that simple policy rules are more robust and more efficient than complex rules with multiple variables. A state-of-the-art appraisal of the fundamental issues facing the Federal Reserve Board and other central banks, Monetary Policy Rules is essential reading for economic analysts and policymakers alike.

    A 33-page economic chronology, divided into ten eras spanning roughly 50,00

    The golden days of easy money and booming profits have come to an abrupt end. What was effectively the age of entitlement in Asia banking is over, and a new era is about to begin. Asia's new banking environment will see a revamped financial industry requiring fresh formulas for success, resulting in a new competitive balance among domestic and global players. This remarkably detailed analysis, drawing on the authors' years of work with leading local and international commercial and investment banks in the region, highlights the long-term challenges, opportunities, and changes which will shape Asian banking well into the first decade of the 21st century. The 21st century is often positioned as "the Pacific Century." Without an effective and efficient banking industry in Asia, it will be no such thing. Covering major businesses and banking markets in Asia, highlights include: * Corporate Banking: Big Profits Among the Risks * Investment Banking: No Escape from Global Trends * Trading in Asia: Back to the Basics * Private Banking: A Miracle for a Few * Japan: Modernizing the System, Mobilizing the Wealth * China: Sustaining a Careful Balance For anyone involved in the future of Asian banking, this should be a compulsory read.

    Instead, this volume asserts that the current global political economy began to take shape around 1500 and that some of today's key processes were already perceivable hundreds of years ago. The author explains the interdependence between long-term economic growth, global political leadership and global war and how this interdependence has evolved over the past 500 years, and includes discussions of: the ascendance of Western Europe and the significance of the 1490sthe military superiority thesissequences of leadership and of challenge to the global political economythe importance of commodities from sugar and cloth to slaves and bullion.

    

    This volume houses a set of remarkable papers that present information on the social security systems, and labor force participation patterns, in Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Spain, Sweden, the United Kingdom, and the United States. "This book is highly recommended for the serious student of retirement age trends and social security old-age pension policies of industrial nations in a cross-national context." Martin B. Tracy, Journal of Sociology and Social Welfare “A path-breaking public-policy study. The authors consistently use a new methodology to evaluate the consequences of retirement systems on the behavior of older workers in eleven industrialized countries. In doing so, the book passes a major test of any conference volume the whole greatly exceeds the sum of its parts. This book without question provides the most consistent cross-national analyses of the work disincentives of retirement programs ever produces. Moreover it will serve as the model for all future efforts of this kind.” Journal of Economics

    The contributions of industry and university researchers to this revolution are manifest; less widely recognized is the major role the federal government played in launching the computing revolution and sustaining its momentum. Funding a Revolution examines the history of computing since World War II to elucidate the federal government's role in funding computing research, supporting the education of computer scientists and engineers, and equipping university research labs. It reviews the economic rationale for government support of research, characterizes federal support for computing research, and summarizes key historical advances in which government-sponsored research played an important role.Funding a Revolution contains a series of case studies in relational databases, the Internet, theoretical computer science, artificial intelligence, and virtual reality that demonstrate the complex interactions among government, universities, and industry that have driven the field. It offers a series of lessons that identify factors contributing to the success of the nation's computing enterprise and the government's role within it.

    

    Hardbound.

    Political rather than economic considerations were decisive in establishing EMU. French-German relations in particular form a thread that runs through the book, notably French efforts to replace German monetary domination by a form of decision-making France can influence. Thus, the issues involved are issues of power, though often presented in technical terms of economics.

    Illegal almost everywhere else in Europe, life insurance in England was vigorously promoted in the three decades following the Glorious Revolution of 1688. While serving as a means of prudential risk-avoidance, life insurance also appealed strongly to the gambling instincts of England's burgeoning middle sort. Life insurance consequently provided a vehicle for gambling until 1774 when parliament forbade the making of wagers on people's deaths. In these formative years life insurance embodied the practical aspirations of Newtonian science, the improving spirit of moral; reform and the zeal of a vibrant commercial society intent on protecting against loss as it created new opportunities for investment.

    A multiregional comparison of the Chinese economy is conducted in terms of natural and human resources, institutional evolution, as well as economic and social performances. The first edition of this book was selected as the 'Best Book on Chinese Economy' by Questia librarians.