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.

    Whether you're a beginner, and avid student, or an armchair expert, you'll find plenty to stimulate you within this book.--book jacket

    Carlota Perez draws upon Schumpeter's theories of the clustering of innovations to explain why each technological revolution gives rise to a paradigm shift and a "New Economy" and how these "opportunity explosions", focused on specific industries, also lead to the recurrence of financial bubbles and crises. These findings are illustrated with examples from the past two centuries: the industrial revolution, the age of steam and railways, the age of steel and electricity, the emergence of mass production and automobiles, and the current information revolution/knowledge society. By analyzing the changing relationship between finance capital and production capital during the emergence, diffusion and assimilation of new technologies throughout the global economic system, this book sheds light on some of the most pressing economic problems of today.

    It counters conventional wisdom with an eighty-year revisionist history of how the American state—especially the Federal Reserve—has fallen prey to the politics of crony capitalism and the ideologies of fiscal stimulus, monetary central planning, and financial bailouts. These forces have left the public sector teetering on the edge of political dysfunction and fiscal collapse and have caused America's private enterprise foundation to morph into a speculative casino that swindles the masses and enriches the few.Defying right- and left-wing boxes, David Stockman provides a catalogue of corrupters and defenders of sound money, fiscal rectitude, and free markets. The former includes Franklin Roosevelt, who fathered crony capitalism; Richard Nixon, who destroyed national financial discipline and the Bretton Woods gold-backed dollar; Fed chairmen Greenspan and Bernanke, who fostered our present scourge of bubble finance and addiction to debt and speculation; George W. Bush, who repudiated fiscal rectitude and ballooned the warfare state via senseless wars; and Barack Obama, who revived failed Keynesian “borrow and spend” policies that have driven the national debt to perilous heights. By contrast, the book also traces a parade of statesmen who championed balanced budgets and financial market discipline including Carter Glass, Harry Truman, Dwight Eisenhower, Bill Simon, Paul Volcker, Bill Clinton, and Sheila Bair.Stockman's analysis skewers Keynesian spenders and GOP tax-cutters alike, showing how they converged to bloat the welfare state, perpetuate the military-industrial complex, and deplete the revenue base—even as the Fed's massive money printing allowed politicians to enjoy “deficits without tears.” But these policies have also fueled new financial bubbles and favored Wall Street with cheap money and rigged stock and bond markets, while crushing Main Street savers and punishing family budgets with soaring food and energy costs. The Great Deformation explains how we got here and why these warped, crony capitalist policies are an epochal threat to free market prosperity and American political democracy.

    Even America, the supposed flagship of the new civilization, risks moral and social disintegration as it loses ground to other cultures that have never forgotten that the market works best when it is embedded in society. John Gray, well known in the 1980s as an important conservative political thinker, whose writings were relied upon by Margaret Thatcher and the New Right in Britain, has concluded that the conservative agenda is no longer viable. In his examination of the ripple effects of the economic turmoil in Russia and Asia on our collective future, Gray provides one of the most passionate polemics against the utopia of the free market since Carlyle and Marx.

    In clear, no-nonsense terms, Woods explains what led up to this economic crisis, who's really to blame, and why government bailouts won't work. Woods will reveal:* Which brave few economists predicted the economic fallout--and why nobody listened* What really caused the collapse* Why the Fed--not taxpayers--should have to answer for the current economic crisis* Why bailouts are band-aids that will only provide temporary relief and ultimately make things worse* What we should do instead, to put our economy on a healthy path to recoveryWith a foreword from Ron Paul, Meltdown is the free-market answer to the Fed-created economic crisis. As the new Obama administration inevitably calls for more regulations, Woods argues that the only way to rebuild our economy is by returning to the fundamentals of capitalism and letting the free market work

    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.

    We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance.The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation.How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.

    Published in 1879, it was admired and advocated by great minds such as Albert Einstein, Winston Churchill, Leo Tolstoy and Sun Yat-sen in China.

    Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank. Particularly concerned with the plight of the developing nations, he became increasingly disillusioned as he saw the International Monetary Fund and other major institutions put the interests of Wall Street and the financial community ahead of the poorer nations. Those seeking to understand why globalization has engendered the hostility of protesters in Seattle and Genoa will find the reasons here. While this book includes no simple formula on how to make globalization work, Stiglitz provides a reform agenda that will provoke debate for years to come. Rarely do we get such an insider's analysis of the major institutions of globalization as in this penetrating book. With a new foreword for this paperback edition.

    Reinert suggests that this set of policies in various combinations has driven successful development from Renaissance Italy to the modern Far East. Yet despite its demonstrable sucess, orthodox developemt economists have largely ignored this approach and insisted instead on the importance of free trade. Reinart shows how the history of economics has long been torn between the continental Renaissance tradition on one hand and the free market theories of English and later American economies on the other. Our economies were founded on protectionism and state activism—look at China today—and could only later afford the luxury of free trade. When our leaders come to lecture poor countries on the right road to riches they do so in almost perfect ignorance of the real history of national affluence.

    And in this book the distinguished scholar Amartya Sen offers a powerful critique of the theory of social justice that, in its grip on social and political thinking, has long left practical realities far behind.The transcendental theory of justice, the subject of Sen's analysis, flourished in the Enlightenment and has proponents among some of the most distinguished philosophers of our day; it is concerned with identifying perfectly just social arrangements, defining the nature of the perfectly just society. The approach Sen favors, on the other hand, focuses on the comparative judgments of what is "more" or "less" just, and on the comparative merits of the different societies that actually emerge from certain institutions and social interactions.At the heart of Sen's argument is a respect for reasoned differences in our understanding of what a "just society" really is. People of different persuasions--for example, utilitarians, economic egalitarians, labor right theorists, no--nonsense libertarians--might each reasonably see a clear and straightforward resolution to questions of justice; and yet, these clear and straightforward resolutions would be completely different. In light of this, Sen argues for a comparative perspective on justice that can guide us in the choice between alternatives that we inevitably face.

    It is how China and India began to embrace neoliberal ideas of economics and attributed a sense of dignity and liberty to the bourgeoisie they had denied for so long. The result was an explosion in economic growth and proof that economic change depends less on foreign trade, investment, or material causes, and a whole lot more on ideas and what people believe.Or so says Deirdre N. McCloskey in Bourgeois Dignity, a fiercely contrarian history that wages a similar argument about economics in the West. Here she turns her attention to seventeenth- and eighteenth-century Europe to reconsider the birth of the industrial revolution and the rise of capitalism. According to McCloskey, our modern world was not the product of new markets and innovations, but rather the result of shifting opinions about them. During this time, talk of private property, commerce, and even the bourgeoisie itself radically altered, becoming far more approving and flying in the face of prejudices several millennia old. The wealth of nations, then, didn’t grow so dramatically because of economic factors: it grew because rhetoric about markets and free enterprise finally became enthusiastic and encouraging of their inherent dignity.An utterly fascinating sequel to her critically acclaimed book The Bourgeois Virtues, Bourgeois Dignity is a feast of intellectual riches from one of our most spirited and ambitious historians—a work that will forever change our understanding of how the power of persuasion shapes our economic lives.

    Social networks surrender their original missions to more immediately profitable data mining, while brokerage houses abandon value investing for algorithms that drain markets and our 401ks alike--all tactics driven by the need to stoke growth by any means necessary. Instead of taking this opportunity to reprogram our economy for sustainability, we have doubled down on growth as its core command. We have reached the limits of this approach. We must escape the growth trap, once and for all. Media scholar and technology author Douglas Rushkoff--one of today's most original and influential thinkers--argues for a new economic program that utilizes the unique distributive power of the internet while breaking free of the winner-take-all system the growth trap leaves in its wake. Drawing on sources both contemporary and historical, Rushkoff pioneers a new understanding of the old economic paradigm, from central currency to debt to corporations and labor.Most importantly, he offers a series of practical steps for businesses, consumers, investors, and policymakers to remake the economic operating system from the inside out--and prosper along the way. Instead of boycotting Wal-Mart or overtaxing the wealthy, we simply implement strategies that foster the creation of value by stakeholders other than just ourselves. From our currency to our labor to the corporation, every aspect of the economy can be reprogrammed with minimal disruption to create a more equitably distributed prosperity for all.Inspiring and challenging, Throwing Rocks at the Google Bus provides a pragmatic, optimistic, and human-centered model for economic progress in the digital age.