Economists and the governments they advise have based their macroeconomic policies on the idea of a natural rate of unemployment. Government policy that pushes the rate below this point—about 6 percent—is apt to trigger an accelerating rate of inflation that is hard to reverse, or so the argument goes. In this book, Storm and Naastepad make a strong case that this concept is flawed: that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.
Skillfully merging theoretical and empirical analysis, Storm and Naastepad show how the NAIRU’s neglect of labor’s impact on technological change and productivity growth eclipses the many positive contributions that labor and its regulation make to economic performance. When these positive effects are taken into account, the authors contend, a more humane policy becomes feasible, one that would enhance productivity and technological progress while maintaining profits, thus creating conditions for low unemployment and wider equality.
Though his work was little known outside Italian intellectual circles for most of the twentieth century, anthropologist and historian of religions Ernesto de Martino is now recognized as one of the most original thinkers in the field. This book is testament to de Martino’s innovation and engagement with Hegelian historicism and phenomenology—a work of ethnographic theory way ahead of its time.
This new translation of Sud e Magia, his 1959 study of ceremonial magic and witchcraft in southern Italy, shows how De Martino is not interested in the question of whether magic is rational or irrational but rather in why it came to be perceived as a problem of knowledge in the first place. Setting his exploration within his wider, pathbreaking theorization of ritual, as well as in the context of his politically sensitive analysis of the global south’s historical encounters with Western science, he presents the development of magic and ritual in Enlightenment Naples as a paradigmatic example of the complex dynamics between dominant and subaltern cultures. Far ahead of its time, Magic is still relevant as anthropologists continue to wrestle with modernity’s relationship with magical thinking.
This volume explores the social, political, and intellectual contexts in which twentieth-century notions of market failure were developed. Markets can fail to perform in ways that best promote the larger interests of society: this idea is as old as economics itself and is one of the most crucial issues with which economic thinkers have had to grapple. However, while the history of the theory of market failure has received some critical examination, little attention has been paid to the larger contexts in which these theoretical analyses emerged. Contributors to this volume directly examine these contexts to gain a greater understanding of and appreciation for the influence of external ideas and events on the development of economic theories and to stimulate additional scholarship around this important facet of the history of economics.
Contributors. Nahid Aslanbeigui, Roger E. Backhouse, Bradley W. Bateman, Sebastian Berger, David Colander, J. Daniel Hammond, Marianne Johnson, Thomas C. Leonard, Alain Marciano, Steven G. Medema, Guy Oakes, Malcolm Rutherford, John D. Singleton
A staunch neoclassical economist, Sherwin Rosen drew inspiration from Adam Smith's Wealth of Nations, particularly his theory of compensating wage differentials, which Rosen felt was central to all economic problems involving product differentiation and spatial considerations. The main theme of his collection is how markets handle diversity, including the determination of value in the presence of diversity, the allocation of idiosyncratic buyers to specialized sellers, and the effects of heterogeneity and sorting on inequality.
Rosen felt that good economics required combining simple but powerful concepts such as optimizing and equilibrium with careful empirical analysis. It was important for the relatively simple rules of behavior implied by rationality to have useful, empirically descriptive content and predictive power. If they did, it was often possible to infer underlying structure (tastes and technology, for example) from actual behavior. Using this approach, Rosen was able to develop powerful insights into such phenomena as the enormous salaries paid to sports and entertainment stars and top business executives. He also explored with fruitful results the premium paid to workers in risky jobs, learning and experience in the labor market, and other labor market phenomena.
This impressive collection features Richard Herrnstein's most important and original contributions to the social and behavioral sciences--his papers on choice behavior in animals and humans and on his discovery and elucidation of a general principle of choice called the matching law.
In recent years, the most popular theory of choice behavior has been rational choice theory. Developed and elaborated by economists over the past hundred years, it claims that individuals make choices in such a way as to maximize their well-being or utility under whatever constraints they face; that is, people make the best of their situations. Rational choice theory holds undisputed sway in economics, and has become an important explanatory framework in political science, sociology, and psychology. Nevertheless, its empirical support is thin.
The matching law is perhaps the most important competing explanatory account of choice behavior. It views choice not as a single event or an internal process of the organism but as a rate of observable events over time. It states that instead of maximizing utility, the organism allocates its behavior over various activities in exact proportion to the value derived from each activity. It differs subtly but significantly from rational choice theory in its predictions of how people exert self-control, for example, how they decide whether to forgo immediate pleasures for larger but delayed rewards. It provides, through the primrose path hypothesis, a powerful explanation of alcohol and narcotic addiction. It can also be used to explain biological phenomena, such as genetic selection and foraging behavior, as well as economic decision making.
Renowned contributors use the late work of this crucial figure to open new speculations on "materiality."
A "material event," in one of Paul de Man’s definitions, is a piece of writing that enters history to make something happen. This interpretation hovers over the publication of this volume, a timely reconsideration of de Man’s late work in its complex literary, critical, cultural, philosophical, political, and historical dimensions.
A distinguished group of scholars responds to the problematic of "materialism" as posed in Paul de Man’s posthumous final book, Aesthetic Ideology. These contributors, at the forefront of critical theory, productive thinking, and writing in the humanities, explore the question of "material events" to illuminate not just de Man’s work but their own. Prominent among the authors here is Jacques Derrida, whose extended essay “Typewriter Ribbon: Limited Inc (2)” returns to a celebrated episode in Rousseau’s Confessions that was discussed by de Man in Allegories of Reading.
The importance of de Man’s late work is related to a broad range of subjects and categories and-in Derrida’s provocative reading of de Man’s concept of "materiality"-the politico-autobiographical texts of de Man himself. This collection is essential reading for all those interested in the present state of literary and cultural theory.
Contributors: Judith Butler, UC Berkeley; T. J. Clark, UC Berkeley; Jacques Derrida, École des Hautes Études en Sciences Sociales and UC Irvine; Barbara Johnson, Harvard U; Ernesto Laclau, U of Essex; Arkady Plotnitsky, Purdue U; Laurence A. Rickels, UC Santa Barbara; and Michael Sprinker.
It is now widely agreed that mainstream macroeconomics is irrelevant and that there is need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis. Lance Taylor’s book exposes the unrealistic assumptions of the rational expectations and real business cycle approaches and of mainstream finance theory. It argues that in separating monetary and financial behavior from real behavior, they do not address the ways that consumption, accumulation, and the government play in the workings of the economy.
Taylor argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes’s basic points were fundamental uncertainty and the absence of Say’s Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models.
Employing these ideas throughout Maynard’s Revenge, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it.
Innovative new approaches for improving GDP measurement to better gauge economic productivity.
Official measures of gross domestic product (GDP) indicate that productivity growth has declined in the United States over the last two decades. This has led to calls for policy changes from pro-business tax reform to stronger antitrust measures. But are our twentieth-century economic methods actually measuring our twenty-first-century productivity?
The Measure of Economies offers a synthesis of the state of knowledge in productivity measurement at a time when many question the accuracy and scope of GDP. With chapters authored by leading economic experts on topics such as the digital economy, health care, and the environment, it highlights the inadequacies of current practices and discusses cutting-edge alternatives.
Pragmatic and forward-facing, The Measure of Economies is an essential resource not only for social scientists, but also for policymakers and business leaders seeking to understand the complexities of economic growth in a time of rapidly evolving technology.
The Fifth edition of this classic textbook includes a solutions manual. Extensive supplemental instructor resources are forthcoming in the Fall of 2022.
Mechanical Vibration: Theory and Application presents comprehensive coverage of the fundamental principles of mechanical vibration, including the theory of vibration, as well as discussions and examples of the applications of these principles to practical engineering problems. The book also addresses the effects of uncertainties in vibration analysis and design and develops passive and active methods for the control of vibration. Many example problems with solutions are provided. These examples as well as compelling case studies and stories of real-world applications of mechanical vibration have been carefully chosen and presented to help the reader gain a thorough understanding of the subject.An essential account of how the media devices we use today inherit the management practices governing factory labor
This book argues that management is enabled by media forms, just as media gives life to management. Media technologies central to management have included the stopwatch, the punch card, the calculator, and the camera, while management theories are taught in printed and virtual textbooks and online through TED talks. In each stage of the evolving relationship between workers and employers, management innovations are learned through media, with media formats producing fresh opportunities for management.
Drawing on rich historical and ethnographic case studies, this book approaches key instances of the industrial and service economy—the legacy of Toyotism in today’s software industry, labor mediators in electronics manufacturing in Central and Eastern Europe, and app-based food-delivery platforms in China—to push media and management studies in new directions. Media and Management offers a provocative insight on the future of labor and media that inevitably cross geographical boundaries.
How often are patients seriously injured through faulty medical care? And what proportion of these people receive compensation for their injuries and suffering? This is the first book that tries to answer these questions in a careful, scholarly way. Among its important findings is that at most one in ten patients injured through medical negligence receives compensation through the malpractice system.
The focus of public attention has been on the rising cost to physicians of malpractice insurance. Although Patricia Danzon analyzes this question thoroughly, her view is much broader, encompassing the malpractice system itself--the legal process, the liability insurance markets, and the feedback to health care. As an economist, she is concerned with the efficiency or cost-effectiveness of the system from the point of view of its three social purposes: deterrence of medical negligence, compensation of injured patients, and the spreading of risk. To provide evidence of the operation of the system in practice, to distinguish fact from allegation, and to evaluate proposals for reform, she has undertaken a detailed empirical analysis of malpractice claims and insurance markets. It is a major contribution to our understanding of how the system works in practice and how it might be improved.
A Dan Josselyn Memorial Publication
This invaluable classic provides the framework for the development of American archaeology during the last half of the 20th century.
In 1958 Gordon R. Willey and Philip Phillips first published Method and Theory in American Archaeology—a volume that went through five printings, the last in 1967 at the height of what became known as the new, or processual, archaeology. The advent of processual archaeology, according to Willey and Phillips, represented a "theoretical debate . . . a question of whether archaeology should be the study of cultural history or the study of cultural process."
Willey and Phillips suggested that little interpretation had taken place in American archaeology, and their book offered an analytical perspective; the methods they described and the structural framework they used for synthesizing American prehistory were all geared toward interpretation. Method and Theory served as the catalyst and primary reader on the topic for over a decade.
This facsimile reprint edition of the original University of Chicago Press volume includes a new foreword by Gordon R. Willey, which outlines the state of American archaeology at the time of the original publication, and a new introduction by the editors to place the book in historical context. The bibliography is exhaustive. Academic libraries, students, professionals, and knowledgeable amateurs will welcome this new edition of a standard-maker among texts on American archaeology.
A diverse and highly regarded group of scholars reference a broad array of literature from around the world as they cover their areas of expertise in the practice and theory of paleoethnobotany—starch grain analysis, stable isotope analysis, ancient DNA, digital data management, and ecological and postprocessual theory.
The only comprehensive edited volume focusing on method and theory to appear in the last twenty-five years, Method and Theory in Paleoethnobotany addresses the new areas of inquiry that have become central to contemporary archaeological debates, as well as the current state of theoretical, methodological, and empirical work in paleoethnobotany.
For hundreds of years, military intervention in another country was considered taboo and prohibited by international law. Since 1992, intervention has often been described as an international responsibility, and efforts have been made to give it legal justification. This extraordinary change in perceptions has taken place in only the space of a decade.
Military Intervention after the Cold War: The Evolution of Theory and Practice explores how and why this change took place, looking at how both ideas and actions changed in the post-Cold War period to make military intervention a tool of international security and a defining characteristic of the international system. Although intervention is often touted as a strategy to rebuild collapsed states, successful interventions are rare. Andrea Kathryn Talentino argues that standards of human rights and responsible governance have become part of the definition of international security. She addresses questions that are vital in the post-9/11 world, where weak and collapsed states are recognized as permissive and at times supportive environments for criminal actors.
The specter of terrorism has further emphasized the need to understand why military intervention is undertaken and how it could be more effective. Scholars, graduate and undergraduate students, and readers interested in understanding global interdependence will find Military Intervention after the Cold War an indispensable book.
Under the Clean Water Act, development that results in the permanent destruction of wetlands must, in most cases, be mitigated by the creation of a new wetland or the restoration of a degraded one. In recent years, the concept of "mitigation banking" has emerged. Rather than require developers to create and maintain wetlands on their own on a quid pro quo basis, mitigation banking allows them to pay for wetlands that have been created and maintained properly by others to compensate for their damage.
The contributors to this volume provide an overview of mitigation banking experience in the United States, examine the key issues and concerns -- from providing assurances to determining the value of credits -- and describe the practice of developing and operating a mitigation bank. Topics include:
Contributors. Stanley K. Abe, Ien Ang, Chris Berry, Paul Bové, Sung-cheng Yvonne Chang, Rey Chow, Dorothy Ko, Charles Laughlin, Leung Ping-kwan, Kwai-cheung Lo, Christopher Lupke, David Der-wei Wang, Michelle Yeh
When a critic pointed out to Brahms that the finale theme in his First Symphony was remarkably similar to the Ode to Joy theme in Beethoven's Ninth, he is said to have replied: "Yes indeed, and what's really remarkable is that every jackass notices this at once." Not every musical borrowing is quite so obvious; but the listener who does perceive one is always left wondering: what does the similarity mean? In this illuminating book Christopher Reynolds gives us answers to that complex question.
Reynolds identifies specific borrowings or allusions in a wide range of nineteenth-century music. He shows the kinds of things composers do with borrowed musical ideas, and discusses why a composer would choose to deploy such allusions. A rich historical background for the practice emerges from his analysis. Musical borrowing touches directly on issues of central importance for nineteenth- and twentieth-century composition: notions of creativity and originality, the constraints of tradition and innovation, musical symbolism and the listener's ear. In clarifying what it can mean when one piece of music invokes or refers to another, Reynolds expands our understanding of what we hear.
Volume 1, Contexts and Paradigms, chronologically surveys Tenney's creative development and output. Wannamaker begins each section with biographical, aesthetic, and technical context that illuminates a distinct period in Tenney's career. From there, he analyzes a small number of pieces that illuminate the concerns, characteristics, and techniques that emerged in Tenney's music during that time. Wannamaker supplements the text with musical examples, graphs, and diagrams while also drawing on unpublished material and newly available primary sources to flesh out each work and the ideas that shaped it.
A landmark in experimental music scholarship, The Music of James Tenney is a first-of-its-kind consideration of the experimental music titan and his work.
Written as a reference work, Volume 2, A Handbook to the Pieces, presents detailed entries on Tenney's significant post-1959 experimental works (excepting pieces covered in volume 1). Wannamaker includes technical information, an analysis of intentions and goals, graphs and musical examples, historical and biographical context, and thoughts from Tenney and others on specific works. Throughout, he discusses the striking compositional ideas found in Tenney's music and, where appropriate, traces an idea's appearance from one piece to the next to reveal the evolution of the composer's art and thought.
A landmark in experimental music scholarship, The Music of James Tenney is a first-of-its-kind consideration of the experimental music titan and his work.
Far more than an intellectual puzzle for pundits, economists, and policymakers, economic growth--its makings and workings--is a subject that affects the well-being of billions of people around the globe. In The Mystery of Economic Growth, Elhanan Helpman discusses the vast research that has revolutionized understanding of this subject in recent years, and summarizes and explains its critical messages in clear, concise, and accessible terms.
The tale of growth economics, as Helpman tells it, is organized around a number of themes: the importance of the accumulation of physical and human capital; the effect of technological factors on the rate of this accumulation; the process of knowledge creation and its influence on productivity; the interdependence of the growth rates of different countries; and, finally, the role of economic and political institutions in encouraging accumulation, innovation, and change.
One of the leading researchers of economic growth, Helpman succinctly reviews, critiques, and integrates current research--on capital accumulation, education, productivity, trade, inequality, geography, and institutions--and clarifies its relevance for global economic inequities. In particular, he points to institutions--including property rights protection, legal systems, customs, and political systems--as the key to the mystery of economic growth. Solving this mystery could lead to policies capable of setting the poorest countries on the path toward sustained growth of per capita income and all that that implies--and Helpman's work is a welcome and necessary step in this direction.
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