Economists and theologians usually inhabit different intellectual worlds. Economists investigate the workings of markets and tend to set ethical questions aside. Theologians, anxious to take up concerns raised by market outcomes, often dismiss economics and lose insights into the influence of market incentives on individual behavior. Mary L. Hirschfeld, who was a professor of economics for fifteen years before training as a theologian, seeks to bridge these two fields in this innovative work about economics and the thought of St. Thomas Aquinas.

According to Hirschfeld, an economics rooted in Thomistic thought integrates many of the insights of economists with a larger view of the good life, and gives us critical purchase on the ethical shortcomings of modern capitalism. In a Thomistic approach, she writes, ethics and economics cannot be reconciled if we begin with narrow questions about fair wages or the acceptability of usury. Rather, we must begin with an understanding of how economic life serves human happiness. The key point is that material wealth is an instrumental good, valuable only to the extent that it allows people to flourish. Hirschfeld uses that insight to develop an account of a genuinely humane economy in which pragmatic and material concerns matter but the pursuit of wealth for its own sake is not the ultimate goal.

The Thomistic economics that Hirschfeld outlines is thus capable of dealing with our culture as it is, while still offering direction about how we might make the economy better serve the human good.

Scientific advances and economic forces have converged to create something unthinkable for much of human history: a robust market in human body products. Every year, countless Americans supply blood, sperm, and breast milk to “banks” that store these products for later use by strangers in routine medical procedures. These exchanges entail complicated questions. Which body products are donated and which sold? Who gives and who receives? And, in the end, who profits? In this eye-opening study, Kara Swanson traces the history of body banks from the nineteenth-century experiments that discovered therapeutic uses for body products to twenty-first-century websites that facilitate a thriving global exchange.

More than a metaphor, the “bank” has shaped ongoing controversies over body products as either marketable commodities or gifts donated to help others. A physician, Dr. Bernard Fantus, proposed a “bank” in 1937 to make blood available to all patients. Yet the bank metaphor labeled blood as something to be commercially bought and sold, not communally shared. As blood banks became a fixture of medicine after World War II, American doctors made them a front line in their war against socialized medicine. The profit-making connotations of the “bank” reinforced a market-based understanding of supply and distribution, with unexpected consequences for all body products, from human eggs to kidneys.

Ultimately, the bank metaphor straitjacketed legal codes and reinforced inequalities in medical care. By exploring its past, Banking on the Body charts the path to a more efficient and less exploitative distribution of the human body’s life-giving potential.

The Great Depression was a global phenomenon: every economy linked to international financial and commodity markets suffered. The aim of this book is not merely to show that China could not escape the consequences of drastic declines in financial flows and trade but also to offer a new perspective for understanding modern Chinese history. The Great Depression was a watershed in modern China. China was the only country on the silver standard in an international monetary system dominated by the gold standard.

Fluctuations in international silver prices undermined China’s monetary system and destabilized its economy. In response to severe deflation, the state shifted its position toward the market from laissez faire to committed intervention. Establishing a new monetary system, with a different foreign-exchange standard, required deliberate government management; ultimately the process of economic recovery and monetary change politicized the entire Chinese economy. By analyzing the impact of the slump and the process of recovery, this book examines the transformation of state-market relations in light of the linkages between the Chinese and the world economy.

A trusted advisor to Presidents Eisenhower, Kennedy, and Johnson and one of America's leading professors of economic history, W. W. Rostow has helped shape the intellectual debate and governmental policies on major economic, political, and military issues since World War II. In this thought-provoking memoir, he takes a retrospective look at eleven key policy problems with which he has been involved to show how ideas flow into concrete action and how actions taken or not taken in the short term actually determine the long run that we call "the future."

The issues that Rostow discusses are these:

• The use of air power in Europe in the 1940s
• Working toward a united Europe during the Cold War
• The death of Joseph Stalin and early attempts to end the Cold War
• Eisenhower's Open Skies policy
• The debate over foreign aid in the 1950s
• The economic revival of Korea
• Efforts to control inflation in the 1960s
• Waiting for democracy in China
• The Vietnam War and Southeast Asian policy
• U.S. urban problems in disadvantaged neighborhoods
• The challenges posed by declining population in the twenty-first century

In discussing how he and others have worked to meet these challenges, Rostow builds a compelling case for including long-term forces in the making of current policy. He concludes his memoir with provocative reflections on the twentieth and twenty-first centuries and on how individual actors shape history.

On a visit to eastern Hui'an in 1994, Sara Friedman was surprised to see a married woman reluctant to visit her conjugal home. The author would soon learn that this practice was typical of the area, along with distinctive female dress styles, gender divisions of labor, and powerful same-sex networks. These customs, she would learn, have long distinguished villages in this coastal region of southeastern China from other rural Han communities.

Intimate Politics explores these practices that have constituted eastern Hui'an residents, women in particular, as an anomaly among rural Han. This book asks what such practices have come to mean in a post-1949 socialist order that has incorporated forms of marriage, labor, and dress into a developmental scale extending from the primitive to the civilized. Government reform campaigns were part of a wholesale effort to remake Chinese society by replacing its "feudal" elements with liberated socialist ideals and practices. As state actors became involved in the intimate aspects of Huidong women's lives, their official models of progress were challenged by the diversity of local practices and commitment of local residents. These politicized entanglements have generated what the author calls "intimate politics," a form of embodied struggle in which socialist civilizing agendas—from the state-sponsored reforms of the Maoist decades to the market-based "reform and opening" of the post-Mao era—have been formulated, contested, and, in some cases, transformed through the bodies and practices of local women.

If most Americans accept the notion that the market is the most efficient means to distribute resources, why should body parts be excluded?

Each year thousands of people die waiting for organ transplants. Many of these deaths could have been prevented were it not for the almost universal moral hand-wringing over the concept of selling human organs. Kidney for Sale by Owner, now with a new preface, boldly deconstructs the roadblocks that are standing in the way of restoring health to thousands of people. Author and bioethicist Mark Cherry reasserts the case that health care could be improved and lives saved by introducing a regulated transplant organs market rather than by well-meant, but misguided, prohibitions.

“Essential and thoroughly engaging…Harvey Cox’s ingenious sense of how market theology has developed a scripture, a liturgy, and sophisticated apologetics allow us to see old challenges in a remarkably fresh light.”
—E. J. Dionne, Jr.

We have fallen in thrall to the theology of supply and demand. According to its acolytes, the Market is omniscient, omnipotent, and omnipresent. It can raise nations and ruin households, and comes complete with its own doctrines, prophets, and evangelical zeal. Harvey Cox brings this theology out of the shadows, demonstrating that the way the world economy operates is shaped by a global system of values that can be best understood as a religion.

Drawing on biblical sources and the work of social scientists, Cox points to many parallels between the development of Christianity and the Market economy. It is only by understanding how the Market reached its “divine” status that can we hope to restore it to its proper place as servant of humanity.

“Cox argues that…we are now imprisoned by the dictates of a false god that we ourselves have created. We need to break free and reclaim our humanity.”
—Forbes

“Cox clears the space for a new generation of Christians to begin to develop a more public and egalitarian politics.”
—The Nation

How do market forces influence the media in China? How does the Party both introduce and try to contain the market's influence? How do commercial imperatives both accommodate and challenge Party control? 

Yuezhi Zhao interviewed a wide range of scholars, media administrators, and media professionals to answer these and other questions. Working in China in 1994 and 1995, she monitored media content, carried out extensive documentary research in Beijing, and held off-the-record meetings with Chinese media insiders. What she found informs an in-depth look at the intertwining nature of the Communist Party and the news media in China, how they affect each other, and what the future might hold for each. 

A rare on-the-ground portrait, Media, Market, and Democracy in China is must reading for scholars, media and business professionals, and policymakers who need to understand what happened to China and its mass media during a period of dynamic growth and change.

Transport in the former Soviet Union is experiencing massive changes in the 1990s: government responsibility has changed from operation to oversight; competition in the industry is increasing; and alternative financing and investment methods are emerging. Moving to Market examines rail, road, water, and air transport in the former Soviet Union and discusses the policy issues involved in making a transition from an industry once entrenched in a centrally planned economy to an industry that can thrive in a more open market. The authors conclude that the raw physical capacity is in place, but that quality of service and product needs to be improved. In addition, price structures need to be changed to reflect real costs and market demands.

The authors cite the "three M's"--marshaling, managing, and monitoring transport resources--as critical for the development of the nation's infrastructure as it moves toward the next century.

A fast-paced, behind-closed-doors account of the Federal Reserve’s decision making during the 2008 financial crisis, showing how Fed policymakers overcame their own assumptions to contain the disaster.

The financial crisis of 2008 led to the collapse of several major banks and thrust the US economy into the deepest recession since the Great Depression. The Federal Reserve was the agency most responsible for maintaining the nation’s economic stability. And the Fed’s Open Market Committee was a twelve-member body at the epicenter, making sense of the unfolding crisis and fashioning a response. This is the story of how they failed, learned, and staved off catastrophe.

Drawing on verbatim transcripts of the committee’s closed-door meetings, Mitchel Abolafia puts readers in the room with the Federal Reserve’s senior policymaking group. Abolafia uncovers what the Fed’s policymakers knew before, during, and after the collapse. He explores how their biases and intellectual commitments both helped and hindered as they made sense of the emergency. In an original contribution to the sociology of finance, Stewards of the Market examines the social and cultural factors that shaped the Fed’s response, one marked by missed cues and analytic failures but also by successful improvisations and innovations.

Ideas, traditions, and power all played their roles in the Fed’s handling of the crisis. In particular, Abolafia demonstrates that the Fed’s adherence to conflicting theories of self-correcting markets contributed to the committee’s doubts and decisions. A vivid portrait of the world’s most powerful central bank in a moment of high stakes, Stewards of the Market is rich with insights for the next financial downturn.

This book investigates the way that corporations are strategically shaping children to be under-aged hyperconsumers as well as the submissive employees and uncritical citizens of the future.

Sharon Beder shows how marketers and advertisers are targeting ever younger children in a relentless campaign, transforming children's play into a commercial opportunity and taking advantage of childish anxieties. 

Beder investigates the corporate relations and ideals that infiltrate every aspect of our lives. She presents an alarming picture of how a child's social development -- through education, health care and nutrition -- has become an ordered conveyor belt of consumerist conditioning. Focusing on education in particular, Beder explains how businesses are taking control of more and more aspects of schooling, not only for profit but to erode state schooling and promote business values. Similarly, she shows how 'difficult' children are taught from an early age that pharmaceuticals can be used to discipline them or to make them 'happy'.

Economists have long counseled reliance on markets rather than on government to decide a wide range of questions, in part because allocation through voting can give rise to a "tyranny of the majority." Markets, by contrast, are believed to make products available to suit any individual, regardless of what others want. But the argument is not generally correct. In markets, you can't always get what you want. This book explores why this is so and its consequences for consumers with atypical preferences.

When fixed costs are substantial, markets provide only products desired by large concentrations of people. As a result, people are better off in their capacity as consumers when more fellow consumers share their product preferences. Small groups of consumers with less prevalent tastes, such as blacks, Hispanics, people with rare diseases, and people living in remote areas, find less satisfaction in markets. In some cases, an actual tyranny of the majority occurs in product markets. A single product can suit one group or another. If one group is larger, the product is targeted to the larger group, making them better off and others worse off.

The book illustrates these phenomena with evidence from a variety of industries such as restaurants, air travel, pharmaceuticals, and the media, including radio broadcasting, newspapers, television, bookstores, libraries, and the Internet.