Social security reform in the United States continues to be a pressing and contentious issue, with advocates touting some form of a centralized or a privatized system of personal accounts. In general, centralized systems offer low administrative costs, but are potentially subject to political mismanagement and appropriation. Privatized account systems, on the other hand, offer higher yields with more flexibility, but may prove too expensive and logistically daunting to implement. Uniting learned and outspoken proponents on both sides of the debate, this volume provides the first comprehensive analysis of the issues involved in administering a system of essentially private social security accounts. The contributors together come to startlingly similar conclusions, generally agreeing that a centralized system of accounts could deliver the benefits of privatization in a feasible and cost-efficient way by accessing administrative mechanisms already in existence. This is perhaps the most far-reaching synthesis yet envisioned of functional and implementable social security reform.

The past three decades have been characterized by vast change and crises in global financial markets—and not in politically unstable countries but in the heart of the developed world, from the Great Recession in the United States to the banking crises in Japan and the Eurozone. As we try to make sense of what caused these crises and how we might reduce risk factors and prevent recurrence, the fields of finance and economics have also seen vast change, as scholars and researchers have advanced their thinking to better respond to the recent crises.

A momentous collection of the best recent scholarship, After the Flood illustrates both the scope of the crises’ impact on our understanding of global financial markets and the innovative processes whereby scholars have adapted their research to gain a greater understanding of them. Among the contributors are José Scheinkman and Lars Peter Hansen, who bring up to date decades of collaborative research on the mechanisms that tie financial markets to the broader economy; Patrick Bolton, who argues that limiting bankers’ pay may be more effective than limiting the activities they can undertake; Edward Glaeser and Bruce Sacerdote, who study the social dynamics of markets; and E. Glen Weyl, who argues that economists are influenced by the incentives their consulting opportunities create.
 

The world of national and international scholarships is more competitive than ever. Top students from across the county vie for a limited number of awards that provide the funding needed to participate in elite programs that can help launch the careers of those who receive the recognition. Scholarship foundation leaders have an insider’s view of the selection process, and experienced advisors prepare students to navigate applications and interviews. Both perspectives are represented here in this new collection emphasizing the importance of engaging a diverse group of students, institutions, and programs in the process as well as expanding the educational experience for students as they apply so that everyone benefits, no matter what the outcome.

We like to imagine that money and art are old enemies, but beneath the veneer of creative utopianism is a dark capitalist underbelly. To expose the fraught intersection of art and money, Max Haiven proposes we examine how money is mobilized in art.
            Even as he shows how imaginary money and the so-called “creative economy” extract an artist’s potential, Haiven identifies and assesses a range of creative strategies for mocking, decrypting, hacking, sabotaging, and exiting capitalism through art. Focusing on the ways contemporary artists understand, imagine, and contend with material and immaterial forms of cash, debt, and credit, Haiven reveals the potential for creativity and resistance in a world dominated by financialization.
            Written for artists, activists, and scholars, this book takes seriously the need to understand and resist capitalism in an age of corporate abuse and exploitation.
 

In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.