A SCHOLARLY BOOK REPOSITORY400 start with C start with C
Whereas Weber contends that the administration of all modern nation-states would eventually converge in one form characterized by rationality and legal authority, Silberman argues that the process of bureaucratic rationalization took, in fact, two courses. One path is characterized by permeable organizational boundaries and the allocation of information by "professionals." The other features well-defined boundaries and the allocation of information by organizational rules. Through case studies of France, Japan, the United States, and Great Britain, Silberman demonstrates that this divergence stems from differences in leadership structure and in levels of uncertainty about leadership succession in the nineteenth century.
Silberman concludes that the rise of bureacratic rationality was primarily a response to political problems rather than social and economic concerns. Cages of Reason demonstrates how rationalization can have occurred over a wide range of cultures at various levels of economic development. It will be of considerable interest to readers in a number of disciplines: political science, sociology, history, and public administration.
"Silberman has produced an invaluable, densely packed work that those with deep knowledge of public administrative development will find extremely rewarding." —David H. Rosenbloom, American Political Science Review
"An erudite, incisive, and vibrant book, the product of intensive study and careful reflection. Given its innovative theoretical framework and the wealth of historical materials contained in it, this study will generate debate and stimulate research in sociology, political science, and organizational theory. It is undoubtedly the best book on the comparative evolution of the modern state published in the last decade."—Mauro F. Guillen, Contemporary Sociology
Modern political culture features a deep-seated faith in the power of numbers to find answers, settle disputes, and explain how the world works. Whether evaluating economic trends, measuring the success of institutions, or divining public opinion, we are told that numbers don’t lie. But numbers have not always been so revered. Calculated Values traces how numbers first gained widespread public authority in one nation, Great Britain.
Into the seventeenth century, numerical reasoning bore no special weight in political life. Complex calculations were often regarded with suspicion, seen as the narrow province of navigators, bookkeepers, and astrologers, not gentlemen. This changed in the decades following the Glorious Revolution of 1688. Though Britons’ new quantitative enthusiasm coincided with major advances in natural science, financial capitalism, and the power of the British state, it was no automatic consequence of those developments, William Deringer argues. Rather, it was a product of politics—ugly, antagonistic, partisan politics. From parliamentary debates to cheap pamphlets, disputes over taxes, trade, and national debt were increasingly conducted through calculations. Some of the era’s most pivotal political moments, like the 1707 Union of England and Scotland and the 1720 South Sea Bubble, turned upon calculative conflicts.
As Britons learned to fight by the numbers, they came to believe, as one calculator wrote in 1727, that “facts and figures are the most stubborn evidences.” Yet the authority of numbers arose not from efforts to find objective truths that transcended politics, but from the turmoil of politics itself.
In his study of Canada, John A. Stovel examines the changes in that country’s balance of payments and balance of trade from confederation to the present day, including as part of his examination historical, statistical, and theoretical points of view. The author also reexamines critically—and finds himself in sharp disagreement with—Jacob Viner’s classic in the field, Canada’s Balance of International Indebtedness, 1900-1913, which has long been considered the definitive analysis of the subject.
Developing in Part I an eclectic theory of international balance of payments, and in Part II concentrating on the Canadian balance of trade and balance of payments in relation to economic developments preceding World War I, Stovel carefully prepares the foundation for a critique of Viner’s analysis of the period 1900-1913. Discussing the inadequacy of the Mill-Taussig theory and its empirical verification, and observing the extent to which the newer theoretical developments have afforded increased understanding, Stovel criticizes Viner’s statistics and the use to which they were put. He delineates with telling clarity the mutual interaction of many elements in cyclical growth development, as opposed to the oversimplified and inadequate causal links of the earlier theory.
In addition to the wealth of analysis of the earlier period, the author investigates the interwar period, with the postwar boom and the depression of the thirties, presenting a careful analysis of the structural changes in the balance of payments during this period as well as indicating the change in Canada’s relation to the United States and Great Britain. The concluding section of the book deals with the period following World War II, and the author indicates the possible lessons to be learned from Canada’s experiences and the improvements in government policy that have taken place, especially with respect to exchange rates.
With the signing of the U.S.-Canada Free Trade Agreement and the tax reforms of the 1980s, there has been some harmonization of tax systems. But geographic, cultural, and political characteristics shape distinct national social policies that may impede harmonization. As the U.S. and Canadian economies become even more integrated, differences in tax systems will have important effects, in particular on the relative rates of economic growth.
In this timely study, scholars from both countries show that, while the United States and Canada exhibit similar corporate tax structures and income tax systems, they have very different approaches to sales tax and social security taxes. Despite these differences, the two countries generate roughly the same amounts of revenue, produce similar costs of capital, and produce comparable distributions of income.
In Cannon Mills and Kannapolis, Tim Vanderburg critically examines the rise of the Cannon Mills textile company and the North Carolina community that grew up around it. Beginning with the founding of the company and the establishment of its mill town by James W. Cannon, the author draws on a wealth of primary sources to show how, under Cannon’s paternalism, workers developed a collective identity and for generations accepted the limits this paternalism placed on their freedom. After exploring the growth and maturation of Cannon Mills against the backdrop of World War I and its aftermath, Vanderburg examines the impact of the Great Depression and World War II and then analyzes the postwar market forces that, along with federal policies and unionization, set in motion the industry’s shift from a paternalistic model to bureaucratic authority. The final section of the book traces the decline of paternalism and the eventual decline of Cannon Mills when the death of the founder’s son, Charles Cannon, led to three successive sales of the company. Pillowtex, its final owner, filed for bankruptcy and was liquidated in 2003.
Vanderburg uses Cannon Mills’s intriguing history to help answer some of the larger questions involving industry and paternalism in the postbellum South. Complete with maps and historic photographs, this authoritative, highly readable account of one company and the town it created adds a captivating layer of complexity to our understanding of southern capitalism.
A New York Times Bestseller
An NPR Best Book of the Year
The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system.
Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.
Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.
Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.
The book is the first comprehensive study of the American copper industry to include labor markets, unionism, and labor relations as an integral part of its focus. It also undertakes a careful examination of the influences exerted by geography and geology in the shaping of the industry.
The study begins with the formation, development, and later histories of all the principal copper producers, their major business and labor policies, technical innovations, attempts at diversification, and foreign ventures. On the labor side, the book examines the beginnings of unionism in the 1880s; the emergence of the Western Federation of Miners in 1893; the later appearance of the International Union of Mine, Mill and Smelter Workers in 1916. The eventual takeover of the Mine Mill by the Steel workers in 1967 and the reasons for the eventual collapse of the pattern system in 1983 are also carefully considered.
The study emphasizes the role of strategic innovations in shaping American copper history, most prominently in the successive development of underground block-caving and open-pit mining; concentration and flotation; and solvent extraction and electrowinning. The study concludes with an evaluation of the lessons supplied by the past and the prospects for the future of the industry.
Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, an esteemed group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations.
In the aftermath of the East Asian currency crises of 1997, the authors consider mechanisms that eight countries have used to control capital inflows and evaluate their effectiveness in altering the maturity of the resulting external debt and reducing macroeconomic vulnerability. This volume is essential reading for all those interested in emerging nations and the costs and benefits of restricting international capital flows.
Together these studies offer a new understanding of the empirical relationship between capital flows, international trade, and economic performance, and also afford key insights into realms of major policy concern.
When we think about history, we often think about people, events, ideas, and revolutions, but what about the numbers? What do the data tell us about what was, what is, and how things changed over time? Economist Robert E. Gallman (1926–98) gathered extensive data on US capital stock and created a legacy that has, until now, been difficult for researchers to access and appraise in its entirety.
Gallman measured American capital stock from a range of perspectives, viewing it as the accumulation of income saved and invested, and as an input into the production process. He used the level and change in the capital stock as proxy measures for long-run economic performance. Analyzing data in this way from the end of the US colonial period to the turn of the twentieth century, Gallman placed our knowledge of the long nineteenth century—the period during which the United States began to experience per capita income growth and became a global economic leader—on a strong empirical foundation. Gallman’s research was painstaking and his analysis meticulous, but he did not publish the material backing to his findings in his lifetime. Here Paul W. Rhode completes this project, giving permanence to a great economist’s insights and craftsmanship. Gallman’s data speak to the role of capital in the economy, which lies at the heart of many of the most pressing issues today.
A New York Times #1 Bestseller
An Amazon #1 Bestseller
A Wall Street Journal #1 Bestseller
A USA Today Bestseller
A Sunday Times Bestseller
A Guardian Best Book of the 21st Century
Winner of the Financial Times and McKinsey Business Book of the Year Award
Winner of the British Academy Medal
Finalist, National Book Critics Circle Award
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality.
Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality—the tendency of returns on capital to exceed the rate of economic growth—today threatens to generate extreme inequalities that stir discontent and undermine democratic values. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again.
A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century reorients our understanding of economic history and confronts us with sobering lessons for today.
A New York Times #1 Bestseller
An Amazon #1 Bestseller
A Wall Street Journal #1 Bestseller
A USA Today Bestseller
A Sunday Times Bestseller
A Guardian Best Book of the 21st Century
Winner of the Financial Times and McKinsey Business Book of the Year Award
Winner of the British Academy Medal
Finalist, National Book Critics Circle Award
“It seems safe to say that Capital in the Twenty-First Century, the magnum opus of the French economist Thomas Piketty, will be the most important economics book of the year—and maybe of the decade.”
—Paul Krugman, New York Times
“The book aims to revolutionize the way people think about the economic history of the past two centuries. It may well manage the feat.”
—The Economist
“Piketty’s Capital in the Twenty-First Century is an intellectual tour de force, a triumph of economic history over the theoretical, mathematical modeling that has come to dominate the economics profession in recent years.”
—Steven Pearlstein, Washington Post
“Piketty has written an extraordinarily important book…In its scale and sweep it brings us back to the founders of political economy.”
—Martin Wolf, Financial Times
“A sweeping account of rising inequality…Piketty has written a book that nobody interested in a defining issue of our era can afford to ignore.”
—John Cassidy, New Yorker
“Stands a fair chance of becoming the most influential work of economics yet published in our young century. It is the most important study of inequality in over fifty years.”
—Timothy Shenk, The Nation
"A must-read, with key lessons for the future."—Thomas Piketty
A groundbreaking examination of austerity’s dark intellectual origins.
For more than a century, governments facing financial crisis have resorted to the economic policies of austerity—cuts to wages, fiscal spending, and public benefits—as a path to solvency. While these policies have been successful in appeasing creditors, they’ve had devastating effects on social and economic welfare in countries all over the world. Today, as austerity remains a favored policy among troubled states, an important question remains: What if solvency was never really the goal?
In The Capital Order, political economist Clara E. Mattei explores the intellectual origins of austerity to uncover its originating motives: the protection of capital—and indeed capitalism—in times of social upheaval from below.
Mattei traces modern austerity to its origins in interwar Britain and Italy, revealing how the threat of working-class power in the years after World War I animated a set of top-down economic policies that elevated owners, smothered workers, and imposed a rigid economic hierarchy across their societies. Where these policies “succeeded,” relatively speaking, was in their enrichment of certain parties, including employers and foreign trade interests, who accumulated power and capital at the expense of labor. Here, Mattei argues, is where the true value of austerity can be observed: its insulation of entrenched privilege and its elimination of all alternatives to capitalism.
Drawing on newly uncovered archival material from Britain and Italy, much of it translated for the first time, The Capital Order offers a damning and essential new account of the rise of austerity—and of modern economics—at the levers of contemporary political power.
The advent of economic neoliberalism in the 1980s triggered a shift in the world economy. In the three decades following World War II, now considered a golden age of capitalism, economic growth was high and income inequality decreasing. But in the mid-1970s this social compact was broken as the world economy entered the stagflation crisis, following a decline in the profitability of capital. This crisis opened a new phase of stagnating growth and wages, and unemployment. Interest rates as well as dividend flows rose, and income inequality widened.
Economists Gérard Duménil and Dominique Lévy show that, despite free market platitudes, neoliberalism was a planned effort by financial interests against the postwar Keynesian compromise. The cluster of neoliberal policies--including privatization, liberalization of world trade, and reduction in state welfare benefits--is an expression of the power of finance in the world economy.
The sequence of events initiated by neoliberalism was not unprecedented. In the late nineteenth century, when economic conditions were similar to those of the 1970s, a structural crisis led to the first financial hegemony culminating in the speculative boom of the late 1920s. The authors argue persuasively for stabilizing the world economy before we run headlong into another economic disaster.
Listen to a short interview with Rawi AbdelalHost: Chris Gondek | Producer: Heron & Crane
The rise of global financial markets in the last decades of the twentieth century was premised on one fundamental idea: that capital ought to flow across country borders with minimal restriction and regulation. Freedom for capital movements became the new orthodoxy.
In an intellectual, legal, and political history of financial globalization, Rawi Abdelal shows that this was not always the case. Transactions routinely executed by bankers, managers, and investors during the 1990s--trading foreign stocks and bonds, borrowing in foreign currencies--had been illegal in many countries only decades, and sometimes just a year or two, earlier.
How and why did the world shift from an orthodoxy of free capital movements in 1914 to an orthodoxy of capital controls in 1944 and then back again by 1994? How have such standards of appropriate behavior been codified and transmitted internationally? Contrary to conventional accounts, Abdelal argues that neither the U.S. Treasury nor Wall Street bankers have preferred or promoted multilateral, liberal rules for global finance. Instead, European policy makers conceived and promoted the liberal rules that compose the international financial architecture. Whereas U.S. policy makers have tended to embrace unilateral, ad hoc globalization, French and European policy makers have promoted a rule-based, "managed" globalization. This contest over the character of globalization continues today.
The new chairman of President Reagan's Council of Economic Advisers, Martin Feldstein is also the leading economist in the field of tax analysis. In this important volume he shows how systems of taxation influence the rate and nature of capital formation—a key policy issue in the development of any economy.
The first part of Capital Taxation deals with the overall rate of saving and examines the effects of taxes on both personal and corporate saving as well as on the interaction between the two. The second section describes the effects of tax rules on household portfolios: selection and size of investment and the process of portfolio adjustment. In Part 3, Feldstein turns to corporate investment in plant and equipment and in inventories. Part 4 analyzes the impact of capital taxation in a growing economy. Feldstein's perceptive identification of important economic and policy questions, adroit use of modeling and new data sources, and careful attention to dynamics make this book a powerful addition to the economic literature.
Between 1951 and 1962 nearly ten billion dollars in long-term capital (both direct investment and purchase of securities) flowed into Canada. This massive amount represented one third of all long-term capital moving among industrial nations. Its transfer marked the first time since before World War I that the world witnessed such a large-scale international movement of capital motivated primarily by a prospect of higher rates of return.
In Capital Transfers and Economic Policy the authors test the theory of the causes and effects of international capital movements against the evidence drawn from Canada's experience. They explore Canada's adjustment to capital flows and show how the operation of her economic policy is affected by the sensitivity of capital flows to the country's interest rates and foreign-exchange rate.
Their brilliant analysis is particularly valuable in light of current trends in capital flows among industrial nations and the June 1970 return of the Canadian dollar to a flexible exchange rate, which put the economy in a working situation similar to that of the fifties.
“A timely account of how the 1% holds on to their wealth…Ought to keep wealth managers awake at night.”
—Wall Street Journal
“Harrington advises governments seeking to address inequality to focus not only on the rich but also on the professionals who help them game the system.”
—Richard Cooper, Foreign Affairs
“An insight unlike any other into how wealth management works.”
—Felix Martin, New Statesman
“One of those rare books where you just have to stand back in awe and wonder at the author’s achievement…Harrington offers profound insights into the world of the professional people who dedicate their lives to meeting the perceived needs of the world’s ultra-wealthy.”
—Times Higher Education
How do the ultra-rich keep getting richer, despite taxes on income, capital gains, property, and inheritance? Capital without Borders tackles this tantalizing question through a groundbreaking multi-year investigation of the men and women who specialize in protecting the fortunes of the world’s richest people. Brooke Harrington followed the money to the eighteen most popular tax havens in the world, interviewing wealth managers to understand how they help their high-net-worth clients dodge taxes, creditors, and disgruntled heirs—all while staying just within the letter of the law. She even trained to become a wealth manager herself in her quest to penetrate the fascinating, shadowy world of the guardians of the one percent.
An Economist Book of the Year
A Financial Times Book of the Year
A Foreign Affairs Best Book of the Year
A Prospect Best Book of the Year
A ProMarket Book of the Year
An Omidyar Network “8 Storytellers Informing How We’ve been Reimagining Capitalism” Selection
“Brilliant…Poses all the important questions about our future.”
—Gordon Brown
“A scholar of inequality warns that while capitalism may have seen off rival economic systems, the survival of liberal democracies is anything but assured.”
—The Economist
We are all capitalists now. For the first time in human history, the world is dominated by one economic system. At some level capitalism has triumphed because it works: it delivers prosperity and gratifies our desire for autonomy. But this comes at a moral price, pushing us to treat material success as the ultimate goal, and offers no guarantee of stability. While Western liberal capitalism creaks under the strains of inequality and excess, some are flaunting the virtues of political capitalism, exemplified by China, which may be more efficient, but is also vulnerable to corruption and social unrest.
One of the outstanding economists of his generation, Branko Milanovic mines the data to tell his ambitious and compelling story. Capitalism gets a lot wrong, he argues, but also much right—and it isn’t going away anytime soon. Our task is to improve it in the hopes that a more equitable capitalism can take hold.
“Erudite, illuminating…Engaging to read…As a virtuoso economist, Milanovic is superb when he is compiling and assessing data.”
—Robert Kuttner, New York Review of Books
“Leaves little doubt that the social contract no longer holds. Whether you live in Beijing or New York, the time for renegotiation is approaching.”
—Edward Luce, Financial Times
One of Times Literary Supplement’s 100 Most Influential Books Since the War
One of National Review’s 100 Best Nonfiction Books of the Century
One of Intercollegiate Studies Institute’s 50 Best Books of the 20th Century
How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of an immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom.
First published in 1962, Friedman’s Capitalism and Freedom is one of the most significant works of economic theory ever written. Enduring in its eminence and esteem, it has sold nearly a million copies in English, has been translated into eighteen languages, and continues to inform economic thinking and policymaking around the world. This new edition includes prefaces written by Friedman for both the 1982 and 2002 reissues of the book, as well as a new foreword by Binyamin Appelbaum, lead economics writer for the New York Times editorial board.
"Milton Friedman is one of the nation's outstanding economists, distinguished for remarkable analytical powers and technical virtuosity. He is unfailingly enlightening, independent, courageous, penetrating, and above all, stimulating."-Henry Hazlitt, Newsweek
"It is a rare professor who greatly alters the thinking of his professional colleagues. It's an even rarer one who helps transform the world. Friedman has done both."-Stephen Chapman, Chicago Tribune
How can we benefit from the promise of government while avoiding the threat it poses to individual freedom? In this classic book, Milton Friedman provides the definitive statement of his immensely influential economic philosophy—one in which competitive capitalism serves as both a device for achieving economic freedom and a necessary condition for political freedom. The result is an accessible text that has sold well over half a million copies in English, has been translated into eighteen languages, and shows every sign of becoming more and more influential as time goes on.
William H. Sewell Jr. argues that the flourishing of commercial capitalism in eighteenth-century France introduced a new independence, flexibility, and anonymity to French social life. By entering the interstices of this otherwise rigidly hierarchical society, expanded commodity exchange colored everyday experience in ways that made civic equality thinkable, possible, even desirable, when the crisis of the French Revolution arrived. Sewell ties together masterful analyses of a multitude of interrelated topics: the rise of commerce, the emergence of urban publics, the careers of the philosophes, commercial publishing, patronage, political economy, trade, and state finance. Capitalism and the Emergence of Civic Equality in Eighteenth-Century France offers an original interpretation of one of history’s pivotal moments.
More than 630 million Chinese have escaped poverty since the 1980s, reducing the fraction remaining from 82 to 10 percent of the population. This astonishing decline in poverty, the largest in history, coincided with the rapid growth of a private enterprise economy. Yet private enterprise in China emerged in spite of impediments set up by the Chinese government. How did private enterprise overcome these initial obstacles to become the engine of China’s economic miracle? Where did capitalism come from?
Studying over 700 manufacturing firms in the Yangzi region, Victor Nee and Sonja Opper argue that China’s private enterprise economy bubbled up from below. Through trial and error, entrepreneurs devised institutional innovations that enabled them to decouple from the established economic order to start up and grow small, private manufacturing firms. Barriers to entry motivated them to build their own networks of suppliers and distributors, and to develop competitive advantage in self-organized industrial clusters. Close-knit groups of like-minded people participated in the emergence of private enterprise by offering financing and establishing reliable business norms.
This rapidly growing private enterprise economy diffused throughout the coastal regions of China and, passing through a series of tipping points, eroded the market share of state-owned firms. Only after this fledgling economy emerged as a dynamic engine of economic growth, wealth creation, and manufacturing jobs did the political elite legitimize it as a way to jump-start China’s market society. Today, this private enterprise economy is one of the greatest success stories in the history of capitalism.
Thirteen chapters cover: social progress during economic development; the influence of cultural values on social and economic change; economic foundations of development—labor, capital, and technology; and organizational arrangements—property rights, government, and markets. These studies will appeal to economists, historians, and social scientists alike for their wide-ranging treatments of economic development and cultural change.
The contributors are N. F. R. Crafts, Lance E. Davis, Stanley L. Engerman, David W. Galenson, Robert E. Gallman, Stephen Innes, John A. James, Eric L. Jones, Thomas W. Laqueur, Gary D. Libecap, Joel Mokyr, Douglass C. North, Mark Thomas, John J. Wallis, Jeffrey G. Williamson.
Contemporary capitalism is always evolving. From digital technologies to cryptocurrencies, current trends in political economy are much discussed, but often little understood. So where can we turn for clarity? As Michael Roberts and Guglielmo Carchedi argue, new trends don't necessarily call for a new theory.
In Capitalism in the 21st Century, the authors show how Marx's law of value explains numerous issues in our modern world. In both advanced economies and the periphery, value theory provides a piercing analytical framework through which we can approach topics as varied as labor, profitability, technology, the environment, the role of China, imperialism, and the state.
An ambitious work that will appeal to both heterodox economists and labor movement activists alike, as it demonstrates the ongoing contemporary relevance of Marxist theory to current trends in political economy.
In the troubled days before the American Civil War, both Northern protectionists and Southern free trade economists saw political economy as the key to understanding the natural laws on which every republican political order should be based. They believed that individual freedom was one such law of nature and that this freedom required a market economy in which citizens could freely pursue their particular economic interests and goals.
But Northern and Southern thinkers alike feared that the pursuit of wealth in a market economy might lead to the replacement of the independent producer by the wage laborer. A worker without property is a potential rebel, and so the freedom and commerce that give birth to such a worker would seem to be incompatible with preserving the content citizenry necessary for a stable, republican political order.
Around the resolution of this dilemma revolved the great debate on the desirability of slavery in this country. Northern protectionists argued that independent labor must be protected at the same time that capitalist development is encouraged. Southern free trade economists answered that the formation of a propertyless class is inevitable; to keep the nation from anarchy and rebellion, slavery—justified by racism—must be preserved at any cost.
Battles of the economists such as these left little room for political compromise between North and South as the antebellum United States confronted the corrosive effects of capitalist development. And slavery's retardant effect on the Southern economy ultimately created a rift within the South between those who sought to make slavery more like capitalism and those who sought to make capitalism more like slavery.
Most scholarship on nineteenth-century America’s transformation into a market society has focused on consumption, romanticized visions of workers, and analysis of firms and factories. Building on but moving past these studies, Capitalism Takes Command presents a history of family farming, general incorporation laws, mortgage payments, inheritance practices, office systems, and risk management—an inventory of the means by which capitalism became America’s new revolutionary tradition.
Since its inception in Manchester in 1821 as a response to the 1819 Peterloo Massacre, the Guardian has been a key institution in the definition and development of liberalism. The stereotype of the 'Guardianista', an environmentally-conscious, Labour-voting, progressively-minded public sector worker endures in the popular mythology of British press history.
Yet the title has a complex lineage and occupies an equivocal position between capital and its opponents. It has both fiercely defended the need for fearless, independent journalism and handed over documents to the authorities; it has carved out a niche for itself in the UK media as a progressive voice but has also consistently diminished more radical projects on the left.
Published to coincide with its 200th anniversary, Capitalism's Conscience brings together historians, journalists and activists in an appraisal of the Guardian's contribution to British politics, society and culture - and its distinctive brand of centrism. Contextualising some of the main controversies in which the title has been implicated, the book offers timely insights into the publication's history, loyalties and political values.
The Great Recession of 2008 restored John Maynard Keynes to prominence. After decades when the Keynesian revolution seemed to have been forgotten, the great British theorist was suddenly everywhere. The New York Times asked, “What would Keynes have done?” The Financial Times wrote of “the undeniable shift to Keynes.” Le Monde pronounced the economic collapse Keynes’s “revenge.” Two years later, following bank bailouts and Tea Party fundamentalism, Keynesian principles once again seemed misguided or irrelevant to a public focused on ballooning budget deficits. In this readable account, Backhouse and Bateman elaborate the misinformation and caricature that have led to Keynes’s repeated resurrection and interment since his death in 1946.
Keynes’s engagement with social and moral philosophy and his membership in the Bloomsbury Group of artists and writers helped to shape his manner of theorizing. Though trained as a mathematician, he designed models based on how specific kinds of people (such as investors and consumers) actually behave—an approach that runs counter to the idealized agents favored by economists at the end of the century.
Keynes wanted to create a revolution in the way the world thought about economic problems, but he was more open-minded about capitalism than is commonly believed. He saw capitalism as essential to a society’s well-being but also morally flawed, and he sought a corrective for its main defect: the failure to stabilize investment. Keynes’s nuanced views, the authors suggest, offer an alternative to the polarized rhetoric often evoked by the word “capitalism” in today’s political debates.
Drawing on the work of the classical-Marxian economists and their modern successors, Capitalists, Workers, and Fiscal Policy sets forth a new model of economic growth and distribution, and applies it to two major policy issues: public debt and social security.
The book homes in specifically on the problem of fiscal policy, examining the ways that taxation and government spending affect the distribution of wealth and income as well as the rate of economic growth. Thomas Michl’s model shows that public debt has a regressive effect on wealth distribution. It also demonstrates that the accumulation of wealth by public authorities, for example, in the form of a pension reserve such as the U.S. social security trust fund, can have a progressive effect on wealth distribution, both directly (since it represents ownership by the citizenry) and indirectly through its general equilibrium effects on the structure of accumulation. The book’s findings provide an analytical foundation for a macroeconomic policy of using fiscal surpluses to accumulate a public pension reserve fund that serves to effect a progressive redistribution of wealth.
In the context of the recent financial crisis, the extent to which the U.S. economy has become dependent on financial activities has been made abundantly clear. In Capitalizing on Crisis, Greta Krippner traces the longer-term historical evolution that made the rise of finance possible, arguing that this development rested on a broader transformation of the U.S. economy than is suggested by the current preoccupation with financial speculation.
Krippner argues that state policies that created conditions conducive to financialization allowed the state to avoid a series of economic, social, and political dilemmas that confronted policymakers as postwar prosperity stalled beginning in the late 1960s and 1970s. In this regard, the financialization of the economy was not a deliberate outcome sought by policymakers, but rather an inadvertent result of the state’s attempts to solve other problems. The book focuses on deregulation of financial markets during the 1970s and 1980s, encouragement of foreign capital into the U.S. economy in the context of large fiscal imbalances in the early 1980s, and changes in monetary policy following the shift to high interest rates in 1979.
Exhaustively researched, the book brings extensive new empirical evidence to bear on debates regarding recent developments in financial markets and the broader turn to the market that has characterized U.S. society over the last several decades.
“Who would spend millions for a job that pays $250k? Parker’s answer will surprise you. Required reading for Congress jocks.”
—Michael C. Munger, Duke University
“A unique and interesting approach to the study of legislators and legislative institutions.”
—David Brady, Stanford University
What would you do if, the very day you were hired, you knew you could be unemployed in as little as two years? You’d seek opportunities in your current job to develop a portfolio of skills and contacts in order to make yourself more attractive to future employers. Representatives and senators think about their jobs in Congress in precisely this way, according to Glenn R. Parker.
While in office, members of Congress plan not merely for the next election but for the next stage of their careers. By networking, serving on committees, and championing particular legislation, they deliberately accumulate human capital—expertise, networks, and reputation—which later gives them advantages on the job market. Parker’s study of the postelective careers of more than 200 former members of Congress who left office during the last half century shows that, in most cases, the human capital these politicians amassed while in office increased their occupational mobility and earning power.
Career Diplomacy is an insider's guide to the Foreign Service as an institution, a profession, and a career. In this thoroughly revised third edition, Kopp and Naland provide an up-to-date, authoritative, and candid account of the life and work of professional US diplomats, who advance and protect this country’s national security interests around the globe. The authors explore the five career tracks—consular, political, economic, management, and public diplomacy—through their own experience and through interviews with more than a hundred current and former members of the Foreign Service. They lay out what to expect in a Foreign Service career, from the entrance exam through midcareer and into the senior service—how to get in, get around, and get ahead.
New in the third edition: • A discussion of the relationship of the Foreign Service and the Department of State to other agencies, and to the combatant commands • An expanded analysis of hiring procedures• Commentary on challenging management issues in the Department of State, including the proliferation of political appointments in high-level positions and the difficulties of running an agency with employees in two personnel systems (Civil Service and Foreign Service) • A fresh examination of the changing nature and demographics of the Foreign Service
Careers in International Affairs, now in its eighth edition, is the ultimate job hunting guide for anyone hoping to work in the U.S. government, international organizations, business, or nonprofits. This thoroughly revised edition provides up-to-date descriptions and data about careers in the global workplace and how to find them—along with nearly 300 organization profiles.
In addition to a remarkably broad and deep list of organizations and contacts, Careers in International Affairs offers insight and guidance from a career counselor, a graduate student, and practitioners in the international affairs community on networking, interviewing, finding a mentor, and choosing the best graduate school.
The book also presents numerous firsthand perspectives on various career sectors from those who have found their own international niche—from young professionals to senior policymakers. It is designed to encourage international job seekers to think about what they know and what talents they have to offer, to widen their horizons and reveal all the possibilities, to help them realize that the future could hold several careers, and to remind them that it is never too early—or too late—to consider the variety of options that await them around the world.
Careers in International Affairs is published in cooperation with Georgetown University's School of Foreign Service, the oldest and largest school of international affairs in the United States.
This is the essential resource and job-hunting guide for all those interested in international careers in the US government, multinational corporations, banks, consulting companies, international and nongovernmental organizations, the media, think tanks, universities, and more. Careers in International Affairs, now in its ninth edition, provides up-to-date insights about the range of possibilities in the global workplace and tips on how to get these jobs—along with profiles of hundreds of important employers.
This helpful guide includes a directory of more than 250 organizations who offer internationally oriented jobs such as the US Department of State, CIA, United Nations, World Bank, J.P. Morgan Chase, Google, McKinsey & Company, and dozens more. The book also includes insightful testimonies about what these careers are really like from both junior and senior professionals in these fields. Careers in International Affairs gives advice on academic paths that will prepare students for demanding international careers and guidance on how to write resumes, interview for jobs, network, and maintain their online profile.
Published in cooperation with the Edmund A. Walsh School of Foreign Service at Georgetown University, the oldest school of international affairs in the United States, Careers in International Affairs will encourage job seekers to consider their goals and talents, widen their horizons to consider new possibilities, and help them realize that their future can hold several careers, while reminding all that it is never too early—or too late—to consider the realm of opportunities that await them throughout the world.
Contemporaries of Carroll D. Wright (1840-1909) lived through the transformation of American society by the industrial revolution. For the most part they thought the transformation represented growth and progress, but many also found occasion for doubt and fear in its consequences. Their anxieties collected around the notions of a "labor problem" and "labor reform." Whether from hope or fear, people felt a need for statistical information. On this popular demand Wright built his career as statistical expert and renowned master of "labor statistics." His investigations during thirty-two years of government service (1873-1905) gave form to contemporary ideas and set precedents for modern procedures, as in his seminal studies of wages, prices, and strikes.
In telling how Wright took up this unprecedented career, Mr. Leiby shows the importance of Wright's early years and relates his work to the politics and religion of his time as well as to its social science. In this perspective, the history of the labor bureaus and their voluminous reports take on their original human purposes and meaning.
These issues are addressed comparatively by area specialists and participant-observers from development assistance organizations. This book is the first systematic effort to evaluate this dimension of international affairs--and to propose remedies. Case studies include Russia, Ecuador, Sri Lanka, and Kenya, with references to many other national experiences.
Cross-cutting chapters consider evolution of USAID and the World Bank's policies on displacement of people by development projects, as well as how carrots and sticks may affect ethnic dynamics, but through different mechanisms and to varying degrees depending on political dynamics and regime behaviors. They show that projects may also exacerbate ethnic conflict by reinforcing territoriality and exposing seemingly unfair allocative principles that exclude or harm some while benefiting others.
For students of international political economy, development studies, comparative politics, and ethnic conflict, this book illuminates a problem area that has long been overlooked in international affairs literature. It is essential reading for staff members and policymakers in development assistance agencies and international financial institutions.
Milton J. Esman is the John S. Knight Professor of International Studies, Emeritus, and Professor of Government, Emeritus, at Cornell University.
Ronald J. Herring is Director of the Mario Einaudi Center for International Studies at Cornell, the John S. Knight Professor of International Relations, and Professor of Government at Cornell University.
An investigation of the practice of “commoning” in urban housing and its necessity for challenging economic injustice in our rapidly gentrifying cities
Provoked by mass evictions and the onset of gentrification in the 1970s, tenants in Washington, D.C., began forming cooperative organizations to collectively purchase and manage their apartment buildings. These tenants were creating a commons, taking a resource—housing—that had been used to extract profit from them and reshaping it as a resource that was collectively owned by them.
In Carving Out the Commons, Amanda Huron theorizes the practice of urban “commoning” through a close investigation of the city’s limited-equity housing cooperatives. Drawing on feminist and anticapitalist perspectives, Huron asks whether a commons can work in a city where land and other resources are scarce and how strangers who may not share a past or future come together to create and maintain commonly held spaces in the midst of capitalism. Arguing against the romanticization of the commons, she instead positions the urban commons as a pragmatic practice. Through the practice of commoning, she contends, we can learn to build communities to challenge capitalism’s totalizing claims over life.
The cases challenge students to actively engage in the decision-making process in order to learn how corporate renewal is practiced in real business settings. The Casebook is meant to accompany the third edition of Principles of Corporate Renewal by Harlan D. Platt, but it can be adopted separately or used with other management textbooks.
The cases challenge students to actively engage in the decision-making process in order to learn how corporate renewal is practiced in real business settings. The Casebook is meant to accompany the second edition of Principles of Corporate Renewal by Harlan D. Platt, but it can be adopted separately or used with other management textbooks.
A groundbreaking feminist perspective on Movimiento al Socialismo (MAS) rule in Bolivia and the country’s radical transformation under Evo Morales
The presidency of Evo Morales in Bolivia (2006–2019) has produced considerable academic scholarship, much of it focused on indigenous social movements or extractivism, and often triumphalist about the successes of Morales’s Movimiento al Socialismo (MAS). Turning a new lens on the movement, Cash, Clothes, and Construction presents the first gender-based analysis of “pluri-economy,” a central pillar of Bolivia’s program under Morales, evaluating the potential of this vision of “an economy where all economies fit” to embrace feminist critiques of capitalism and economic diversity.
Based on more than twelve years of empirical research exploring the remarkable transformations in Bolivia since 2006, this book focuses on three sectors—finance, clothing, and construction—in which indigenous women have defied gendered expectations. Kate Maclean presents detailed case studies of women selling secondhand high street clothes from the United States in the vast, peri-urban markets of Bolivian cities; Aymaran designers of new pollera (traditional Andean dress) fashions, one of whom exhibited her collection in New York City; and the powerful and rich chola paceña, whose real estate investments have transformed the cultural maps of La Paz and El Alto.
Cash, Clothes, and Construction offers a gendered analysis of the mission of MAS to dismantle neoliberalism and decolonize politics and economy from the perspective of the Indigenous women who have radically transformed Bolivia’s economy from the ground up.
The menstrual product industry has played a large role in shaping the past hundred years of menstrual culture, including technological innovation, creative advertising, and education in classrooms. How much do we know about this sector and how has it changed in later decades? What constitutes “the industry,” who works in it, and how is it adapting to the current menstrual equity movement?
Cash Flow provides a new academic study of the menstrual corporate landscape that links its twentieth-century origins to the current day. Drawing on a range of previously unexplored archival materials and interviews with industry insiders, each chapter examines one key company and brand: Saba in Norway, Essity in Sweden, Tambrands in the Soviet Union, Procter & Gamble in Britain and Europe, Kimberly-Clark in North America, and start-ups Clue and Thinx. The book provides timely insights into a secretive and largely unexamined corporate world and the ongoing political and industry-wide debate about the cost of menstrual products. Cash Flow will be of interest to a wide range of groups within and outside academia, including scholars in the emerging field of critical menstruation studies and menstrual activists.
H. L. Goodall’s ground-breaking study of what people do with symbols and what symbols do to people explores the lives led by people in organizations. His narratives take on the form of six detective mysteries in which the narrator figures into the plot of the intrigue and then works out its essential patterns.
In the first mystery, "Notes on a Cultural Evolution: The Remaking of a Software Company," Goodall looks at the transition of a Huntsville regional office of a Boston-based computer software company where the lives and social dramas of the participants reflect the current state of high technology. The second essay and perhaps the most insightful, "The Way the World Ends: Inside Star Wars," penetrates the various defenses of the Star Wars command office in Huntsville to discover its secrets and surprises. Goodall shows how media, technology, fear of relationships, and symbolic images of the future unite into the day-to-day operations of people who believe they are responsible for the outer limits of our nation’s defense.
"Lost in Space: The Layers of Illusion Called Adult Space Camp" illustrates how a supposedly innocent theme park invites participation in rituals and ceremonies designed to influence a future generation of taxpayers. In "Articles of Faith," Goodall enters a super mall in Huntsville, noting how shopping centers provide consumers with far more than places to purchase goods and services. "How I Spent My Summer Vacation" finds Goodall back in an academic environment, at a conference of communication scholars, where he demonstrates the difficult task of translating cultural understandings from one context to another. "The Consultant as Organizational Detective" offers the sobering message that real-life mysteries may surprise even the most accomplished sleuth. A concluding chapter, "Notes on Method," and a new autobiographical afterword round out Goodall’s penetrating look at our symbol-making culture.
To some degree, both institutions offer Native representations yet create different strategies for attracting and engaging visitors. While the casino is crucial as an economic generator, the museum has an important role as the space for authentic Mashantucket Pequot images and narratives. The book’s focus is on how the casino and the museum successfully deploy different strategies to take control of the tribe’s identity, image, and cultural agency.
Photographs in the book provide a view of Mashantucket, allowing the reader to study the spaces of the book’s central arguments. They are a key methodology of the project and offer a non-textual opportunity to navigate the sites as well as one finely focused way to work through the representation and formation of the Native American photographic subject—the powerful popular imagining of Native Americans. Casino and Museum presents a unique understanding of the prodigious role that representation plays in the contemporary poetics and politics of Native America. It is essential reading for scholars of Native American studies, museum studies, cultural studies, and photography.
Cassava is Africa's "poverty fighter" and second most important food crop. This book discusses Cassava's real role and traces research over the past 65 years. The "Cassava transformation" that is now underway in Africa has changed this traditional, reserve crop to a high-yield cash crop. However, Cassava is being neglected by governments and donor agencies because of myths and half-truths about its nutritional value and role in farm systems.
Throughout history, those arrested for vagrancy have generally been poor men and women, often young, able-bodied, unemployed, and homeless. Most histories of vagrancy have focused on the European and American experiences. Cast Out: Vagrancy and Homelessness in Global and Historical Perspective is the first book to consider the shared global heritage of vagrancy laws, homelessness, and the historical processes they accompanied.
In this ambitious collection, vagrancy and homelessness are used to examine a vast array of phenomena, from the migration of labor to social and governmental responses to poverty through charity, welfare, and prosecution. The essays in Cast Out represent the best scholarship on these subjects and include discussions of the lives of the underclass, strategies for surviving and escaping poverty, the criminalization of poverty by the state, the rise of welfare and development programs, the relationship between imperial powers and colonized peoples, and the struggle to achieve independence after colonial rule. By juxtaposing these histories, the authors explore vagrancy as a common response to poverty, labor dislocation, and changing social norms, as well as how this strategy changed over time and adapted to regional peculiarities.
Part of a growing literature on world history, Cast Out offers fresh perspectives and new research in fields that have yet to fully investigate vagrancy and homelessness. This book by leading scholars in the field is for policy makers, as well as for courses on poverty, homelessness, and world history.
Contributors:
Richard B. Allen
David Arnold
A. L. Beier
Andrew Burton
Vincent DiGirolamo
Andrew A. Gentes
Robert Gordon
Frank Tobias Higbie
Thomas H. Holloway
Abby Margolis
Paul Ocobock
Aminda M. Smith
Linda Woodbridge
Castles, Battles, and Bombs reconsiders key episodes of military history from the point of view of economics—with dramatically insightful results. For example, when looked at as a question of sheer cost, the building of castles in the High Middle Ages seems almost inevitable: though stunningly expensive, a strong castle was far cheaper to maintain than a standing army. The authors also reexamine the strategic bombing of Germany in World War II and provide new insights into France’s decision to develop nuclear weapons. Drawing on these examples and more, Brauer and Van Tuyll suggest lessons for today’s military, from counterterrorist strategy and military manpower planning to the use of private military companies in Afghanistan and Iraq.
"In bringing economics into assessments of military history, [the authors] also bring illumination. . . . [The authors] turn their interdisciplinary lens on the mercenary arrangements of Renaissance Italy; the wars of Marlborough, Frederick the Great, and Napoleon; Grant's campaigns in the Civil War; and the strategic bombings of World War II. The results are invariably stimulating."—Martin Walker, Wilson Quarterly
"This study is serious, creative, important. As an economist I am happy to see economics so professionally applied to illuminate major decisions in the history of warfare."—Thomas C. Schelling, Winner of the 2005 Nobel Prize in Economics
Modern credit, developed during the financial revolution of 1620–1720, laid the foundation for England’s political, military, and economic dominance in the eighteenth century. Possessed of a generally circulating credit currency, a modern national debt, and sophisticated financial markets, England developed a fiscal–military state that instilled fear in its foes and facilitated the first industrial revolution. Yet a number of casualties followed in the wake of this new system of credit. Not only was it precarious and prone to accidents, but it depended on trust, public opinion, and ultimately violence.
Carl Wennerlind reconstructs the intellectual context within which the financial revolution was conceived. He traces how the discourse on credit evolved and responded to the Glorious Revolution, the Scientific Revolution, the founding of the Bank of England, the Great Recoinage, armed conflicts with Louis XIV, the Whig–Tory party wars, the formation of the public sphere, and England’s expanded role in the slave trade. Debates about credit engaged some of London’s most prominent turn-of-the-century intellectuals, including Daniel Defoe, John Locke, Isaac Newton, Jonathan Swift and Christopher Wren. Wennerlind guides us through these conversations, toward an understanding of how contemporaries viewed the precariousness of credit and the role of violence—war, enslavement, and executions—in the safeguarding of trust.
Catastrophic Coastal Storms offers a solution to the policy problem by proposing a merger of hazard mitigation with development management, basing this on extensive surveys of at-risk coastal locations and case studies of post-hurricane recovery. Starting with the local level of government and proceeding to state and federal levels, the authors propose a strategy for overcoming the formidable obstacles to safeguarding the shoreline population and its structures from hurricanes and other severe storms.
Inequality is skyrocketing. In this world of vast riches, millions of people live in extreme poverty, barely surviving from day to day. All over the world, the wealthy's increasing political power is biasing policy away from the public interest and toward the financial interests of the rich. At the same time, many countries are facing financial fragility and diminished well-being. On top of it all, the global economy, driven by fossil fuels, has proven to be a collective act of self-sabotage with the poor on the front lines. In a new foreword to his book, Anthony M. Annett examines the Biden administration's economic policies and discusses reactions to Cathonomics.
A growing chorus of economists and politicians is demanding a new paradigm to create a global economy that seeks the common good. In Cathonomics, Annett unites insights in economics with those from theology, philosophy, climate science, and psychology, exposing the failures of neoliberalism while offering us a new model rooted in the wisdom of Catholic social teaching and classical ethical traditions. Drawing from the work of Pope Leo XIII, Pope Francis, Thomas Aquinas, and Aristotle, Annett applies these teachings to discuss current economic challenges, such as inequality, unemployment and underemployment, climate change, and the roles of business and finance.
Cathonomics is an ethical and practical guide for readers of all faiths and backgrounds seeking to create a world economy that is more prosperous, inclusive, and sustainable for all.
The contributors are Peter Asch, George Bittlingmayer, Donald J. Boudreaux, Malcolm B. Coate, Louis De Alessi, Thomas J. DiLorenzo, B. Epsen Eckbo, Robert B. Ekelund, Jr., Roger L. Faith, Richard S. Higgins, William E. Kovacic, Donald R. Leavens, William F. Long, Fred S. McChesney, Mike McDonald, Stephen Parker, Richard A. Posner, Paul H. Rubin, Richard Schramm, Joseph J. Seneca, William F. Shughart II, Jon Silverman, George J. Stigler, Robert D. Tollison, Charlie M. Weir, Peggy Wier, and Bruce Yandle.
This volume draws together a panel of distinguished scholars who address these issues in terms comprehensible to noneconomists. Their findings are surprising, suggesting that factors such as trade imbalances, immigration rates, and differences in educational resources do not account for recent increases in the inequality of wealth and earnings. Rather, the contributors maintain that these discrepancies can be attributed to workplace demand for high-skilled labor. They also insist that further research must examine the organization of industry in order to better understand the concurrent devaluation of manual labor.
Addressing a topic that is of considerable public interest, this collection helps move the issue of increasing economic inequality in America to the center of the public policy arena.
Contributors: Donald R. Deere, Claudia Goldin, Lawrence F. Katz, James P. Smith, Franco Peracchi, Gary Solon, Eric A. Hanushek, Julie A. Somers, Marvin H. Kosters, William Cline, Finis Welch, Angus Deaton, Charles Murray, Kevin Murphy
In 1950, when he was 22 years old, Nash presented his key idea—the Nash equilibrium—in the Ph.D. thesis he submitted to the Mathematics Department at Princeton University. In that paper, he defined a new concept of equilibrium and used methods from topology to prove the existence of an equilibrium point for n-person, finite, non-cooperative games, that is, for games in which the number of possible strategies are limited, no communication is allowed between the players, and n represents the number of players. The Nash equilibrium point is reached when none of the players can improve their position by changing strategies. By taking into account situations involving more than two players, specifically the general n-player game, Nash built significantly on the previous work of John Von Neumann and Oskar Morgenstern.
Contributors. Abbas Bahri, Eric A. Carlen, Ennio De Giorgi, Charles Fefferman, Srihari Govidan, John C. Harsanyi, H. Hoffer, Carlos E. Kenig, S. Klainerman, Harold F. Kuhn, Michael Loss, William F. Lucas, M. Machedon, Roger B. Myerson, Raghavan Narasimhan, John F. Nash Jr., Louis Nirenberg, Jill Pipher, Zeév Rudnick, Peter Sarnak, Michael Shub, Steve Smale, Robert Wilson, K. Wysocki, E. Zehnder
"The failure of the annual harvest is still an event of greater importance in the lives of the Russian people than...what happens to steel production."--from the Introduction
With over 540 million acres sown to crops the Soviet Union was one of the world's agricultural giants. Yet agriculture was the Achilles heel of the Soviet economy. Public pronouncements of Russian leaders--prerevolutionary and postrevolutionary alike--attested the crucial role of the agricultural problem, its economically and politically explosive nature, and its persistence over the years.
This is one of the most thorough studies ever made of Russian agriculture. Emphasizing the continuity of problems and policies too often dichotomized into tsarist and Soviet eras, Volin has created a monumental work--a sweeping panorama of the century between the emancipation of the serfs and the 1960s.
The author begins by recounting the development of serfdom and describing the emancipation and subsequent problem of land distribution. In the first part ofthe book he also explores the first agrarian revolution (1905) and the reforms that followed it, as well as the conditions during World War I that led to the Revolution of 1917.
In Part II he treats agricultural conditions during the Civil War, attempts made to restore the economy by means of the New Economic Policy, Stalin's programof forced collectivization and liquidation of the kulaks, agricultural conditions during World War II--including Nazi policies in occupied territory--and the policies of Stalin in the postwar recovery.
The longest section of the book is devoted to the Khrushchev era. It covers capital investment and expansion of sown acreage, incentives for the kolkhozniks, their income, and the supply of consumer goods, as well as mechanization and electrification programs, the state farms, rates of production, and administrative control and planning.
The final chapter summarizes the past century and comments on the outlook for the future.
Understanding wealth in the United States—who has it, how they acquired it, and how they preserve it—is crucial to addressing the economic and political challenges facing the nation. But until now we have had little reliable information. Edward Wolff, one of the world’s great experts on the economics of wealth, offers an authoritative account of patterns in the accumulation and distribution of wealth since 1900.
A Century of Wealth in America demonstrates that the most remarkable change has been the growth of per capita household wealth, which climbed almost eightfold prior to the 2007 recession. But overlaid on this base rate are worrying trends. The share of personal wealth claimed by the richest one percent almost doubled between the mid-1970s and 2013, concurrent with a steep run-up of debt in the middle class. As the wealth of the average family dropped precipitously—by 44 percent—between 2007 and 2013, with black families hit hardest, the debt-income ratio more than doubled. The Great Recession also caused a sharp spike in asset poverty, as more and more families barely survived from one paycheck to the next. In short, the United States has changed from being one of the most economically equal of the advanced industrialized countries to being one of the most unequal.
At a time of deep uncertainty about the future, A Century of Wealth in America provides a sober bedrock of facts and astute analysis. It will become one of the few indispensable resources for contemporary public debate.
Drawing on four decades of experience advising boards and CEOs on how to do just that, Thomas A. Cole offers in CEO Leadership a straightforward and accessible guide to navigating corporate governance today. He explores the recurring question of whose benefit a corporation should be governed for, along with related matters of corporate social responsibility, and he explains the role of laws, market forces, and politics and their influence on the governance of public companies. For corporate directors, he provides a comprehensive examination of the roles, responsibilities, and accountability the role entails, while also offering guidance on how to be as effective as possible in addressing both routine corporate matters and special situations such as mergers and acquisitions, succession, and corporate crises. In addition, he offers practical suggestions for CEOs on leadership and their interactions with boards and shareholders. Cole also mounts a compelling case that a corporate culture that celebrates diversity and inclusion and has zero tolerance for sexual misconduct is critical to long-term business success.
Filled with vignettes from Cole’s many years of experience in the board room and C-suite, CEO Leadership is an invaluable resource for current and prospective directors, CEOs, and other senior officers of public companies as well as the next generation of corporate leaders and their business and financial advisors.
An essential collection at the intersection of globalization, production supply chains, corporate finance regulation, and economic measurement.
The substantial increase in the complexity of global supply chains and other production arrangements over the past three decades has challenged some traditional measures of national income account aggregates and raised the potential for distortions in conventional calculations of GDP and productivity. This volume examines a variety of multinational business activities and assesses their impact on economic measurement. Several chapters consider how global supply chains complicate the interpretation of traditional trade statistics and how new measurement techniques can provide information about global production arrangements. Other chapters examine the role of intangible capital in global production, including the output of factoryless goods producers and the problems of measuring R&D in a globalized world. The studies in this volume also explore potential ways to enhance the quality of the national accounts by improving data collection and analysis and by updating the standards for measurement.
Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.
A wide-ranging examination of how policies, parties, and labor strength affect inequality in post-industrial societies.
Not all countries are unequal in the same ways or to the same degree. In Challenging Inequality, Evelyne Huber and John D. Stephens analyze different patterns of increasing income inequality in post-industrial societies since the 1980s, assessing the policies and social structures best able to mitigate against the worst effects of market inequality. Combining statistical data analysis from twenty-two countries with a comparative historical analysis of Germany, Spain, Sweden, and the United States, Huber and Stephens identify the factors that drive increases in inequality and shape persistent, marked differences between countries. Their statistical analysis confirms generalizable patterns and in-depth country studies help to further elucidate the processes at work.
Challenging Inequality shows how the combination of globalization and skill-biased technological change has led to both labor market dualization and rising unemployment levels, which in turn have had important effects on inequality and poverty. Labor strength—at both the society level and the enterprise level—has helped to counter rising market income inequality, as has a history of strong human capital spending. The generosity of the welfare state remains the most important factor shaping redistribution, while the consistent power of left parties is the common denominator behind both welfare state generosity and human capital investment.
Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades.
Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.
The interviews and commentary together demonstrate that economics is currently undergoing a fundamental shift in method and is moving away from traditional neoclassical economics into a dynamic set of new methods and approaches. These new approaches include work in behavioral economics, experimental economics, evolutionary game theory and ecological approaches, complexity and nonlinear dynamics, methodological analysis, and agent-based modeling.
David E. Colander is Professor of Economics, Middlebury College.
J. Barkley Rosser, Jr., is Professor of Economics and Kirby L. Kramer Jr. Professor of Business Administration, James Madison University.
Richard P. F. Holt is Professor of Churchill Honors and Economics, Southern Oregon University.
Do Motorola, Herman Miller, and the Donelly corporations all share a secret of business? Without a doubt, it is the ability to continually change—their "only hope for survival and success"—change based on a participatory management style, often referred to as the Scanlon Plan—identity, participation, equity, and managerial competence—these corporations have succeeded where others have failed.
Changing Forever builds on the forty years of research, experience, and development that have gone into the Scanlon Plan. Documenting fully the principles and processes of the Scanlon Plan, Carl Frost gives the reader a clear view of how the plan works and how it can be adapted to suit the needs of businesses large and small. The conclusions of his research are not surprising: with implementation of the four basic principles of the Scanlon Plan comes an optimal synergistic relationship between all employees and management.
In The Changing Frontier, Adam B. Jaffe and Benjamin Jones bring together a group of prominent scholars to consider the changes in science and innovation in the ensuing decades. The contributors take on such topics as changes in the organization of scientific research, the geography of innovation, modes of entrepreneurship, and the structure of research institutions and linkages between science and innovation. An important analysis of where science stands today, The Changing Frontier will be invaluable to practitioners and policy makers alike.
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