Both state control and privatization of resources have been advocated, but neither the state nor the market have been uniformly successful in solving common pool resource problems. After critiquing the foundations of policy analysis as applied to natural resources, Elinor Ostrom here provides a unique body of empirical data to explore conditions under which common pool resource problems have been satisfactorily or unsatisfactorily solved. Dr. Ostrom first describes three models most frequently used as the foundation for recommending state or market solutions. She then outlines theoretical and empirical alternatives to these models in order to illustrate the diversity of possible solutions. In the following chapters she uses institutional analysis to examine different ways--both successful and unsuccessful--of governing the commons. In contrast to the proposition of the tragedy of the commons argument, common pool problems sometimes are solved by voluntary organizations rather than by a coercive state. Among the cases considered are communal tenure in meadows and forests, irrigation communities and other water rights, and fisheries.

    Meanwhile, working-class Americans have been asked to pay more. The Triumph of Injustice presents a forensic investigation into this dramatic transformation, written by two economists who revolutionized the study of inequality. Eschewing anecdotes and case studies, Emmanuel Saez and Gabriel Zucman offer a comprehensive view of America’s tax system, based on new statistics covering all taxes paid at all levels of government. Their conclusion? For the first time in more than a century, billionaires now pay lower tax rates than their secretaries.Blending history and cutting-edge economic analysis, and writing in lively and jargon-free prose, Saez and Zucman dissect the deliberate choices (and sins of indecision) that have brought us to today: the gradual exemption of capital owners; the surge of a new tax avoidance industry; and the spiral of tax competition among nations. With clarity and concision, they explain how America turned away from the most progressive tax system in history to embrace policies that only serve to compound the wealth of a few.But The Triumph of Injustice is much more than a laser-sharp analysis of one of the great political and intellectual failures of our time. Saez and Zucman propose a visionary, democratic, and practical reinvention of taxes, outlining reforms that can allow tax justice to triumph in today’s globalized world and democracy to prevail over concentrated wealth.A pioneering companion website allows anyone to evaluate proposals made by the authors, and to develop their own alternative tax reform at taxjusticenow.org.

    What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, when Princeton University Press published Theory of Games and Economic Behavior. In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.This sixtieth anniversary edition includes not only the original text but also an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews and articles on the book that appeared at the time of its original publication in the New York Times, tthe American Economic Review, and a variety of other publications. Together, these writings provide readers a matchless opportunity to more fully appreciate a work whose influence will yet resound for generations to come.

    In the wake of the Fail Decade, Americans have historically low levels of trust in their institutions; the social contract between ordinary citizens and elites lies in tatters.How did we get here? With Twilight of the Elites, Christopher Hayes offers a radically novel answer. Since the 1960s, as the meritocracy elevated a more diverse group of men and women into power, they learned to embrace the accelerating inequality that had placed them near the very top. Their ascension heightened social distance and spawned a new American elite--one more prone to failure and corruption than any that came before it.Mixing deft political analysis, timely social commentary, and deep historical understanding, Twilight of the Elites describes how the society we have come to inhabit – utterly forgiving at the top and relentlessly punitive at the bottom – produces leaders who are out of touch with the people they have been trusted to govern. Hayes argues that the public's failure to trust the federal government, corporate America, and the media has led to a crisis of authority that threatens to engulf not just our politics but our day-to-day lives.Upending well-worn ideological and partisan categories, Hayes entirely reorients our perspective on our times. Twilight of the Elites is the defining work of social criticism for the post-bailout age.

    

    And so, too often, 'the bland lead the bland'. Our unfamiliar problems need a new approach, and the reception given to this famous book has shown the value of its fresh, lively ideas.'A compelling challenge to conventional thought'  The New York Times'He shows himself a truly sensitive and civilized man, whose ideas are grounded in the common culture of the two continents, and may serve as a link between them; his book is of foremost importance for them both'  The Times Literary SupplementJohn Kenneth Galbraith (1908-2006) was a Canadian-American economist. A Keynesian and an institutionalist, Galbraith was a leading proponent of 20th-century American liberalism and progressivism. Galbraith was the author of 30 books, including The Economics of Innocent Fraud, The Great Crash: 1929, and A History of Economics.

    Since Wallerstein first developed world-systems analysis, it has become a widely utilized methodology within the historical social sciences and a common point of reference in discussions of globalization. Now, for the first time in one volume, Wallerstein offers a succinct summary of world-systems analysis and a clear outline of the modern world-system, describing the structures of knowledge upon which it is based, its mechanisms, and its future.Wallerstein explains the defining characteristics of world-systems analysis: its emphasis on world-systems rather than nation-states, on the need to consider historical processes as they unfold over long periods of time, and on combining within a single analytical framework bodies of knowledge usually viewed as distinct from one another—such as history, political science, economics, and sociology. He describes the world-system as a social reality comprised of interconnected nations, firms, households, classes, and identity groups of all kinds. He identifies and highlights the significance of the key moments in the evolution of the modern world-system: the development of a capitalist world-economy in the sixteenth-century, the beginning of two centuries of liberal centrism in the French Revolution of 1789, and the undermining of that centrism in the global revolts of 1968. Intended for general readers, students, and experienced practitioners alike, this book presents a complete overview of world-systems analysis by its original architect.

    John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision.From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.

    This book presents a radically new answer, insisting that global society has only begun to realize its full potential. Author Howard Bloom argues that there’s a hidden mandate beneath the surface of capitalism: "It’s struggling to whisper and rumble its message to you and me. That hidden imperative can lift us from economic crisis, can make us a leader in the next-generation economy, and can dramatically upgrade our ability to empower our fellow human beings." Bloom sees crisis as opportunity, opportunity for the whole human race.In more than eighty short, fast chapters, insights appear suddenly, like the quick bursts of flashbulbs, taking the reader on a sweeping tour of human history, from the Stone Age to the present. Every chapter conveys a radically new way to see the astonishing mechanism we call "Western Civilization." Bloom marvels at how humans have turned toxic waste into food and fuel, trash into treasure, and garbage into gold. He shows how we've produced material miracles based on immaterial things—passion, persistence, and fantasy. He shows that what many regard as the end is just the beginning. The beginning of something you've never before imagined. The author explains why the secret to capitalism’s next great leap does not lie in new financial tricks, but in tapping things right under our noses in radically new ways—that is, tapping our imagination, our desire to feel useful, our desire to help others, and our desire to be recognized for contributing to the welfare of humanity. The key to next-generation capitalism lies in a big-picture view that's utterly unlike anything you've previously perceived. A big-picture view that will startle you. A big-picture view with which you can ignite the world, get a new handle on your life, and help transform society. This brilliant, inspirational work of daring ideas and breathtaking research offers more than hope. It offers unseen levels of understanding. Understanding that can literally redefine what it means to be a human being.From the Trade Paperback edition.

    Like everything he writes, it is new, stimulating and sparkles like champagne.Braudel's technique, it has been said, is that of a pointilliste. Myriads of separate details, sharp glimpses of reality experienced by real people, are seen miraculously to orchestrate themselves into broad rhythms that underlie and transcend the excitements and struggles of particular periods. Braudel sees the past as we see the present — only in a longer perspective and over a wider field.The perspective is that of the possible, of the actual material limitations to human life in any given time or place. It is the every¬day, the habitual — the obvious that is so obvious it has hitherto been neglected by historians — that Braudel claims for a new and vast and enriching province of history. Food and drink, dress and housing, demography and family structure, energy and technology, money and credit, and, above all, the growth of towns, that powerful agent of social and economic development, are described in all the richness and complexity of real life.The intensely visual quality of Braudel's understanding of history is brought into sharper focus by the remarkable series of illustrations that of themselves would make this book incomparableFERNAND BRAUDEL was born in 1902, received a degree in history in 1923, and subsequently taught in Algeria, Paris and Sao Paulo. He spent five years as a prisoner of war in Germany, during which time he wrote his grand thesis, The Mediterranean and the Mediterranean World in the Age of Philip II, which was published in 1949. In 1946 he became a member of the editorial board of Annates, the famous journal founded by Marc Bloch and Lucian Febvre, whom he succeeded at the College de France in 1949. He has been a member of the Ecole Pratique des Hautes Etudes and since 1962 has been chief administrator of the Maison des Sciences de l'Homme. Professor Braudel holds honorary doctor¬ates from universities all over the world.Jacket painting: Detail from Breughel the Elder's The Fall of Icarus, from the Musees Royaux des Beaux-Arts, Brussels. (Giraudon)"Braudel deserves a Nobel Prize. . . . [This is] the most remarkable picture of human life in the centuries before the human condition was radically changed by the growth of industry that has yet been presented. A book of great originality, a masterpiece."—J. H. Plumb, The Washington Post"Braudel's books enthrall. ... He is brilliant in demonstrating how most history is written on the backs of most people."—John Leonard, The New York Times"Even a preliminary glance at The Structures of Everyday Life shows a book that has no obvious compeer either in scope of reference or level of accessibility to the general reader. ... Its broad authority remains deeply impressive."—Richard Holmes, Harper's"Here is vast erudition, beautifully arranged, presented with grace of style, with humility before life's complexity and warm humanist feeling. Braudel's subject is nothing less than every¬day life all over the world before the industrial revolution.... He succeeds triumphantly in his first purpose: 'if not to see everything, at least to locate everything, and on the requisite world scale.'"—Angus Calder, The Standard"On neither side of the Atlantic does there live a man or woman with so much knowledge of the past as Braudel, or with a greater sense of its aptness to the intellectual occasion in hand....You can't pick up this big fat book without having your attention transfixed by something or other, if only the great gallery of pictures. They are a masterpiece in themselves."—Peter Laslett, The Guardian"This new book is unarguably a brilliant survey of demog¬raphy, urbanisation, transport, technology, food, clothing, housing, money and business, social classes, state power and international trade in the fifteenth to the eighteenth centuries."—Theodore Zeldin, The Listener-----By examining in detail the material life of preindustrial peoples around the world, Fernand Braudel significantly changed the way historians view their subject. Volume I describes food and drink, dress and housing, demography and family structure, energy and technology, money and credit, and the growth of towns.

    

    When the original Debunking Economics was published in 2001, the market economy seemed invincible, and conventional "neoclassical" economic theory basked in the limelight. Steve Keen argued that economists deserved none of the credit for the economy's performance, and "The false confidence it has engendered in the stability of the market economy has encouraged policy-makers to dismantle some of the institutions which initially evolved to try to keep its instability within limits." That instability exploded with the devastating financial crisis of 2007, and now haunts the global economy with the prospect of another Depression. In this expanded and updated new edition, Keen builds on his scathing critique of conventional economic theory while explaining what mainstream economists cannot: why the crisis occurred, why it is proving to be intractable, and what needs to be done to end it. Essential for anyone who has ever doubted the advice or reasoning of economists, Debunking Economics (Revised and Expanded Edition) provides a signpost to a better future.

    Widely praised and much-discussed, this classic book explores how cooperation can emerge in a world of self-seeking egoists—whether superpowers, businesses, or individuals—when there is no central authority to police their actions. The problem of cooperation is central to many different fields. Robert Axelrod recounts the famous computer tournaments in which the “cooperative” program Tit for Tat recorded its stunning victories, explains its application to a broad spectrum of subjects, and suggests how readers can both apply cooperative principles to their own lives and teach cooperative principles to others.

    From the first lesson to the last, each chapter introduces games of increasing complexity and then teaches the game theoretical tools necessary to solve them. Inside, you will find: All the basics fully explained, including pure strategy Nash equilibrium, mixed strategy Nash equilibrium, the mixed strategy algorithm, how to calculate payoffs, strict dominance, weak dominance, iterated elimination of strictly dominated strategies, iterated elimination of weakly dominated strategies, and more! Dozens of games solved, including the prisoner's dilemma, stag hunt, matching pennies, zero sum games, battle of the sexes/Bach or Stravinsky, chicken/snowdrift, pure coordination, deadlock, and safety in numbers! Crystal clear, line-by-line calculations of every step, with more than 200 images so you don't miss a thing! Tons of applications: war, trade, game shows, and duopolistic competition. Quick, efficient, and to the point, Game Theory 101: The Basics is perfect for introductory game theory, intermediate microeconomics, and political science.

    The stunning rise, fall, and rescue of Wall Street in the bubble-and-bailout era was the coming-out party for the network of looters who sit at the nexus of American political and economic power. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power for a generation, transferring wealth upward through increasingly complex financial mechanisms and political maneuvers. The crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life.Rolling Stone’s Matt Taibbi here unravels the whole fiendish story, digging beyond the headlines to get into the deeper roots and wider implications of the rise of the grifters. He traces the movement’s origins to the cult of Ayn Rand and her most influential—and possibly weirdest—acolyte, Alan Greenspan, and offers fresh reporting on the backroom deals that decided the winners and losers in the government bailouts. He uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world, and he shows how finance dominates politics, from the story of investment bankers auctioning off America’s infrastructure to an inside account of the high-stakes battle for health-care reform—a battle the true reformers lost. Finally, he tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity.” Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing, and scathingly funny account yet written of the ongoing political and financial crisis in America. This is essential reading for anyone who wants to understand the labyrinthine inner workings of politics and finance in this country, and the profound consequences for us all.