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The Duel: Diefenbaker, Pearson and the Making of Modern Canada
Par John Ibbitson. 2023
INSTANT NATIONAL BESTSELLEROne of Canada’s foremost authors and journalists, offers a gripping account of the contest between John Diefenbaker and…
Lester Pearson, two prime ministers who fought each other relentlessly, but who between them created today’s Canada. John Diefenbaker has been unfairly treated by history. Although he wrestled with personal demons, his governments launched major reforms in public health care, law reform and immigration. On his watch, First Nations on reserve obtained the right to vote and the federal government began to open up the North. He established Canada as a leader in the struggle against apartheid in South Africa, and took the first steps in making Canada a leader in the fight against nuclear proliferation. And Diefenbaker’s Bill of Rights laid the groundwork for the Charter of Rights and Freedoms. He set in motion many of the achievements credited to his successor, Lester B. Pearson.Pearson, in turn, gave coherence to Diefenbaker’s piecemeal reforms. He also pushed Parliament to adopt a new, and now much-loved, Canadian flag against Diefenbaker’s fierce opposition. Pearson understood that if Canada were to be taken seriously as a nation, it must develop a stronger sense of self. Pearson was superbly prepared for the role of prime minister: decades of experience at External Affairs, respected by leaders from Washington to Delhi to Beijing, the only Canadian to win the Nobel Prize for Peace. Diefenbaker was the better politician, though. If Pearson walked with ease in the halls of power, Diefenbaker connected with the farmers and small-town merchants and others left outside the inner circles. Diefenbaker was one of the great orators of Canadian political life; Pearson spoke with a slight lisp. Diefenbaker was the first to get his name in the papers, as a crusading attorney: Diefenbaker for the Defence, champion of the little man. But he struggled as a politician, losing five elections before making it into the House of Commons, and becoming as estranged from the party elites as he was from the Liberals, until his ascension to the Progressive Conservative leadership in 1956 through a freakish political accident. As a young university professor, Pearson caught the attention of the powerful men who were shaping Canada’s first true department of foreign affairs, rising to prominence as the helpful fixer, the man both sides trusted, the embodiment of a new country that had earned its place through war in the counsels of the great powers: ambassador, undersecretary, minister, peacemaker. Everyone knew he was destined to be prime minister. But in 1957, destiny took a detour.Then they faced each other, Diefenbaker v Pearson, across the House of Commons, leaders of their parties, each determined to wrest and hold power, in a decade-long contest that would shake and shape the country. Here is a tale of two men, children of Victoria, who led Canada into the atomic age: each the product of his past, each more like the other than either would ever admit, fighting each other relentlessly while together forging the Canada we live in today. To understand our times, we must first understand theirs.Josephine Roche (1886–1976) was a progressive activist, New Deal policymaker, and businesswoman. As a pro-labor and feminist member of Franklin…
D. Roosevelt's administration, she shaped the founding legislation of the U.S. welfare state and generated the national conversation about health-care policy that Americans are still having today. In this gripping biography, Robyn Muncy offers Roche’s persistent progressivism as evidence for surprising continuities among the Progressive Era, the New Deal, and the Great Society.Muncy explains that Roche became the second-highest-ranking woman in the New Deal government after running a Colorado coal company in partnership with coal miners themselves. Once in office, Roche developed a national health plan that was stymied by World War II but enacted piecemeal during the postwar period, culminating in Medicare and Medicaid in the 1960s. By then, Roche directed the United Mine Workers of America Welfare and Retirement Fund, an initiative aimed at bolstering the labor movement, advancing managed health care, and reorganizing medicine to facilitate national health insurance, one of Roche’s unrealized dreams.In Relentless Reformer, Muncy uses Roche’s dramatic life story—from her stint as Denver’s first policewoman in 1912 to her fight against a murderous labor union official in 1972—as a unique vantage point from which to examine the challenges that women have faced in public life and to reassess the meaning and trajectory of progressive reform.The Theory of Taxation and Public Economics
Par Louis Kaplow. 2008
The Theory of Taxation and Public Economics presents a unified conceptual framework for analyzing taxation--the first to be systematically developed…
in several decades. An original treatment of the subject rather than a textbook synthesis, the book contains new analysis that generates novel results, including some that overturn long-standing conventional wisdom. This fresh approach should change thinking, research, and teaching for decades to come. Building on the work of James Mirrlees, Anthony Atkinson and Joseph Stiglitz, and subsequent researchers, and in the spirit of classics by A. C. Pigou, William Vickrey, and Richard Musgrave, this book steps back from particular lines of inquiry to consider the field as a whole, including the relationships among different fiscal instruments. Louis Kaplow puts forward a framework that makes it possible to rigorously examine both distributive and distortionary effects of particular policies despite their complex interactions with others. To do so, various reforms--ranging from commodity or estate and gift taxation to regulation and public goods provision--are combined with a distributively offsetting adjustment to the income tax. The resulting distribution-neutral reform package holds much constant while leaving in play the distinctive effects of the policy instrument under consideration. By applying this common methodology to disparate subjects, The Theory of Taxation and Public Economics produces significant cross-fertilization and yields solutions to previously intractable problems.Worldly Philosopher: The Odyssey of Albert O. Hirschman
Par Jeremy Adelman. 2013
The life and times of one of the most provocative thinkers of the twentieth centuryWorldly Philosopher chronicles the times and…
writings of Albert O. Hirschman, one of the twentieth century's most original and provocative thinkers. In this gripping biography, Jeremy Adelman tells the story of a man shaped by modern horrors and hopes, a worldly intellectual who fought for and wrote in defense of the values of tolerance and change. This is the first major account of Hirschman’s remarkable life, and a tale of the twentieth century as seen through the story of an astute and passionate observer. Adelman’s riveting narrative traces how Hirschman’s personal experiences shaped his unique intellectual perspective, and how his enduring legacy is one of hope, open-mindedness, and practical idealism.The Case for Big Government (The Public Square #9)
Par Jeff Madrick. 2010
Political conservatives have long believed that the best government is a small government. But if this were true, noted economist…
Jeff Madrick argues, the nation would not be experiencing stagnant wages, rising health care costs, increasing unemployment, and concentrations of wealth for a narrow elite. In this perceptive and eye-opening book, Madrick proves that an engaged government--a big government of high taxes and wise regulations--is necessary for the social and economic answers that Americans desperately need in changing times. He shows that the big governments of past eras fostered greatness and prosperity, while weak, laissez-faire governments marked periods of corruption and exploitation. The Case for Big Government considers whether the government can adjust its current policies and set the country right. Madrick explains why politics and economics should go hand in hand; why America benefits when the government actively nourishes economic growth; and why America must reject free market orthodoxy and adopt ambitious government-centered programs. He looks critically at today's politicians--at Republicans seeking to revive nineteenth-century principles, and at Democrats who are abandoning the pioneering efforts of the Great Society. Madrick paints a devastating portrait of the nation's declining social opportunities and how the economy has failed its workers. He looks critically at today's politicians and demonstrates that the government must correct itself to address these serious issues. A practical call to arms, The Case for Big Government asks for innovation, experimentation, and a willingness to fail. The book sets aside ideology and proposes bold steps to ensure the nation's vitality.Innovation and Its Discontents: How Our Broken Patent System is Endangering Innovation and Progress, and What to Do About It
Par Adam B. Jaffe, Josh Lerner. 2004
The United States patent system has become sand rather than lubricant in the wheels of American progress. Such is the…
premise behind this provocative and timely book by two of the nation's leading experts on patents and economic innovation. Innovation and Its Discontents tells the story of how recent changes in patenting--an institutional process that was created to nurture innovation--have wreaked havoc on innovators, businesses, and economic productivity. Jaffe and Lerner, who have spent the past two decades studying the patent system, show how legal changes initiated in the 1980s converted the system from a stimulator of innovation to a creator of litigation and uncertainty that threatens the innovation process itself. In one telling vignette, Jaffe and Lerner cite a patent litigation campaign brought by a a semi-conductor chip designer that claims control of an entire category of computer memory chips. The firm's claims are based on a modest 15-year old invention, whose scope and influenced were broadened by secretly manipulating an industry-wide cooperative standard-setting body. Such cases are largely the result of two changes in the patent climate, Jaffe and Lerner contend. First, new laws have made it easier for businesses and inventors to secure patents on products of all kinds, and second, the laws have tilted the table to favor patent holders, no matter how tenuous their claims. After analyzing the economic incentives created by the current policies, Jaffe and Lerner suggest a three-pronged solution for restoring the patent system: create incentives to motivate parties who have information about the novelty of a patent; provide multiple levels of patent review; and replace juries with judges and special masters to preside over certain aspects of infringement cases. Well-argued and engagingly written, Innovation and Its Discontents offers a fresh approach for enhancing both the nation's creativity and its economic growth.The Federal Reserve and the Financial Crisis
Par Ben S. Bernanke. 2013
Ben Bernanke's history of the Federal Reserve and its response to the 2008 financial crisisIn 2012, Ben Bernanke, chairman of…
the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed important background and insights into the central bank's crucial actions during the worst financial crisis since the Great Depression. Taken directly from these historic talks, The Federal Reserve and the Financial Crisis offers insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges.Bernanke traces the origins of the Federal Reserve, from its inception in 1914 through the Second World War, and he looks at the Fed post-1945, when it began operating independently from other governmental departments such as the Treasury. During this time the Fed grappled with episodes of high inflation, finally tamed by then-chairman Paul Volcker. Bernanke also explores the period under his predecessor, Alan Greenspan, known as the Great Moderation. Bernanke then delves into the Fed's reaction to the recent financial crisis, focusing on the central bank's role as the lender of last resort and discussing efforts that injected liquidity into the banking system. Bernanke points out that monetary policies alone cannot revive the economy, and he describes ongoing structural and regulatory problems that need to be addressed.Providing first-hand knowledge of how problems in the financial system were handled, The Federal Reserve and the Financial Crisis will long be studied by those interested in this critical moment in history.Collaborative Governance: Private Roles for Public Goals in Turbulent Times
Par John D. Donahue, Richard J. Zeckhauser. 2012
How government can forge dynamic public-private partnershipsAll too often government lacks the skill, the will, and the wallet to meet…
its missions. Schools fall short of the mark while roads and bridges fall into disrepair. Health care costs too much and delivers too little. Budgets bleed red ink as the cost of services citizens want outstrips the taxes they are willing to pay. Collaborative Governance is the first book to offer solutions by demonstrating how government at every level can engage the private sector to overcome seemingly insurmountable problems and achieve public goals more effectively.John Donahue and Richard Zeckhauser show how the public sector can harness private expertise to bolster productivity, capture information, and augment resources. The authors explain how private engagement in public missions—rightly structured and skillfully managed—is not so much an alternative to government as the way smart government ought to operate. The key is to carefully and strategically grant discretion to private entities, whether for-profit or nonprofit, in ways that simultaneously motivate and empower them to create public value. Drawing on a host of real-world examples-including charter schools, job training, and the resurrection of New York's Central Park—they show how, when, and why collaboration works, and also under what circumstances it doesn't.Collaborative Governance reveals how the collaborative approach can be used to tap the resourcefulness and entrepreneurship of the private sector, and improvise fresh, flexible solutions to today's most pressing public challenges.The behind-the-scenes story of how today's war crimes tribunals came to beWithin days of Madeleine Albright's confirmation as U.S. ambassador…
to the United Nations in 1993, she instructed David Scheffer to spearhead the historic mission to create a war crimes tribunal for the former Yugoslavia. As senior adviser to Albright and then as President Clinton's ambassador-at-large for war crimes issues, Scheffer was at the forefront of the efforts that led to criminal tribunals for the Balkans, Rwanda, Sierra Leone, and Cambodia, and that resulted in the creation of the permanent International Criminal Court. All the Missing Souls is Scheffer's gripping insider's account of the international gamble to prosecute those responsible for genocide, war crimes, and crimes against humanity, and to redress some of the bloodiest human rights atrocities in our time.Scheffer reveals the truth behind Washington's failures during the 1994 Rwandan genocide and the 1995 Srebrenica massacre, the anemic hunt for notorious war criminals, how American exceptionalism undercut his diplomacy, and the perilous quests for accountability in Kosovo and Cambodia. He takes readers from the killing fields of Sierra Leone to the political back rooms of the U.N. Security Council, providing candid portraits of major figures such as Madeleine Albright, Anthony Lake, Richard Goldstone, Louise Arbour, Samuel "Sandy" Berger, Richard Holbrooke, and Wesley Clark, among others.A stirring personal account of an important historical chapter, All the Missing Souls provides new insights into the continuing struggle for international justice.The New Dynamic Public Finance (The Toulouse Lectures in Economics)
Par Narayana R. Kocherlakota. 2010
Optimal tax design attempts to resolve a well-known trade-off: namely, that high taxes are bad insofar as they discourage people…
from working, but good to the degree that, by redistributing wealth, they help insure people against productivity shocks. Until recently, however, economic research on this question either ignored people's uncertainty about their future productivities or imposed strong and unrealistic functional form restrictions on taxes. In response to these problems, the new dynamic public finance was developed to study the design of optimal taxes given only minimal restrictions on the set of possible tax instruments, and on the nature of shocks affecting people in the economy. In this book, Narayana Kocherlakota surveys and discusses this exciting new approach to public finance. An important book for advanced PhD courses in public finance and macroeconomics, The New Dynamic Public Finance provides a formal connection between the problem of dynamic optimal taxation and dynamic principal-agent contracting theory. This connection means that the properties of solutions to principal-agent problems can be used to determine the properties of optimal tax systems. The book shows that such optimal tax systems necessarily involve asset income taxes, which may depend in sophisticated ways on current and past labor incomes. It also addresses the implications of this new approach for qualitative properties of optimal monetary policy, optimal government debt policy, and optimal bequest taxes. In addition, the book describes computational methods for approximate calculation of optimal taxes, and discusses possible paths for future research.Did America's fortieth president lead a conservative counterrevolution that left liberalism gasping for air? The answer, for both his admirers…
and his detractors, is often "yes." In Morning in America, Gil Troy argues that the Great Communicator was also the Great Conciliator. His pioneering and lively reassessment of Ronald Reagan's legacy takes us through the 1980s in ten year-by-year chapters, integrating the story of the Reagan presidency with stories of the decade's cultural icons and watershed moments-from personalities to popular television shows. One such watershed moment was the 1984 Los Angeles Olympics. With the trauma of Vietnam fading, the triumph of America's 1983 invasion of tiny Grenada still fresh, and a reviving economy, Americans geared up for a festival of international harmony that-spurred on by an entertainment-focused news media, corporate sponsors, and the President himself-became a celebration of the good old U.S.A. At the Games' opening, Reagan presided over a thousand-voice choir, a 750-member marching band, and a 90,000-strong teary-eyed audience singing "America the Beautiful!" while waving thousands of flags. Reagan emerges more as happy warrior than angry ideologue, as a big-picture man better at setting America's mood than implementing his program. With a vigorous Democratic opposition, Reagan's own affability, and other limiting factors, the eighties were less counterrevolutionary than many believe. Many sixties' innovations went mainstream, from civil rights to feminism. Reagan fostered a political culture centered on individualism and consumption-finding common ground between the right and the left. Written with verve, Morning in America is both a major new look at one of America's most influential modern-day presidents and the definitive story of a decade that continues to shape our times.Finance and the Good Society
Par Robert J. Shiller. 2013
Nobel Prize-winning economist explains why we need to reclaim finance for the common goodThe reputation of the financial industry could…
hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals.Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole.Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.The Squam Lake Report: Fixing the Financial System
Par Kenneth R. French, Martin N. Baily, John Y. Campbell, John Cochrane, Douglas W. Diamond, Darrell Duffie, Anil K. Kashyap, Frederic S. Mishkin, Raghuram G. Rajan, David S. Scharfstein, Robert J. Shiller, Hyun Song Shin, Matthew J. Slaughter, Jeremy C. Stein, René M. Stulz. 2010
A nonpartisan plan of action for fixing the global economy from fifteen of the world's leading economistsIn the fall of…
2008, fifteen of the world's leading economists—representing the broadest spectrum of economic opinion—gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.The Squam Lake Report distills the wealth of insights from the ongoing collaboration that began at these meetings and provides a revelatory, unified, and coherent voice for fixing our troubled and damaged financial markets. As an alternative to the patchwork solutions and ideologically charged proposals that have dominated other discussions, the Squam Lake group sets forth a clear nonpartisan plan of action to transform the regulation of financial markets—not just for the current climate—but for generations to come.Arguing that there has been a conflict between financial institutions and society, these diverse experts present sound and transparent prescriptions to reduce this divide. They look at the critical holes in the existing regulatory framework for handling complex financial institutions, retirement savings, and credit default swaps. They offer ideas for new financial instruments designed to recapitalize banks without burdening taxpayers. To lower the risk that large banks will fail, the authors call for higher capital requirements as well as a systemic regulator who is part of the central bank. They collectively analyze where the financial system has failed, and how these weak points should be overhauled.Combining an immense depth of academic, private sector, and public policy experience, The Squam Lake Report contains urgent recommendations that will positively influence everyone's financial well-being—all who care about the world's economic health need to pay attention.Solomon's Knot: How Law Can End the Poverty of Nations (The Kauffman Foundation Series on Innovation and Entrepreneurship #9)
Par Robert D. Cooter, Hans-Bernd Schäfer. 2013
Why law is critical to innovation and economic growthSustained growth depends on innovation, whether it's cutting-edge software from Silicon Valley,…
an improved assembly line in Sichuan, or a new export market for Swaziland's leather. Developing a new idea requires money, which poses a problem of trust. The innovator must trust the investor with his idea and the investor must trust the innovator with her money. Robert Cooter and Hans-Bernd Schäfer call this the "double trust dilemma of development." Nowhere is this problem more acute than in poorer nations, where the failure to solve it results in stagnant economies.In Solomon's Knot, Cooter and Schäfer propose a legal theory of economic growth that details how effective property, contract, and business laws help to unite capital and ideas. They also demonstrate why ineffective private and business laws are the root cause of the poverty of nations in today's world. Without the legal institutions that allow innovation and entrepreneurship to thrive, other attempts to spur economic growth are destined to fail.Paying the Tab: The Costs and Benefits of Alcohol Control
Par Philip J. Cook. 2007
What drug provides Americans with the greatest pleasure and the greatest pain? The answer, hands down, is alcohol. The pain…
comes not only from drunk driving and lost lives but also addiction, family strife, crime, violence, poor health, and squandered human potential. Young and old, drinkers and abstainers alike, all are affected. Every American is paying for alcohol abuse. Paying the Tab, the first comprehensive analysis of this complex policy issue, calls for broadening our approach to curbing destructive drinking. Over the last few decades, efforts to reduce the societal costs--curbing youth drinking and cracking down on drunk driving--have been somewhat effective, but woefully incomplete. In fact, American policymakers have ignored the influence of the supply side of the equation. Beer and liquor are far cheaper and more readily available today than in the 1950s and 1960s. Philip Cook's well-researched and engaging account chronicles the history of our attempts to "legislate morality," the overlooked lessons from Prohibition, and the rise of Alcoholics Anonymous. He provides a thorough account of the scientific evidence that has accumulated over the last twenty-five years of economic and public-health research, which demonstrates that higher alcohol excise taxes and other supply restrictions are effective and underutilized policy tools that can cut abuse while preserving the pleasures of moderate consumption. Paying the Tab makes a powerful case for a policy course correction. Alcohol is too cheap, and it's costing all of us.Savarkar and the Making of Hindutva
Par Janaki Bakhle. 2024
A monumental intellectual history of the pivotal figure of Hindu nationalismVinayak Damodar Savarkar (1883–1966) was an intellectual, ideologue, and anticolonial…
nationalist leader in India&’s struggle for independence from British colonial rule, one whose anti-Muslim writings exploited India&’s tensions in pursuit of Hindu majority rule. Savarkar and the Making of Hindutva is the first comprehensive intellectual history of one of the most contentious political thinkers of the twentieth century.Janaki Bakhle examines the full range of Savarkar&’s voluminous writings in his native language of Marathi, from political and historical works to poetry, essays, and speeches. She reveals the complexities in the various positions he took as a champion of the beleaguered Hindu community, an anticaste progressive, an erudite if polemical historian, a pioneering advocate for women&’s dignity, and a patriotic poet. This critical examination of Savarkar&’s thought shows that Hindutva is as much about the aesthetic experiences that have been attached to the idea of India itself as it is a militant political program that has targeted the Muslim community in pursuit of power in postcolonial India.By bringing to light the many legends surrounding Savarkar, Bakhle shows how this figure from a provincial locality in colonial India rose to world-historical importance. Savarkar and the Making of Hindutva also uncovers the vast hagiographic literature that has kept alive the myth of Savarkar as a uniquely brave, brilliant, and learned revolutionary leader of the Hindu nation.The Journal of Law and Economics, volume 66 number 4 (November 2023)
Par The Journal of Law and Economics. 2023
This is volume 66 issue 4 of The Journal of Law and Economics. Established in 1958, the Journal of Law…
and Economics publishes research on a broad range of topics, including the economic analysis of law, the economic analysis of regulation and the behavior of regulated firms, industrial organization and antitrust policy, the political economy of legislation and legislative processes, law and finance, and corporate finance and governance. The JLE has published some of the most influential and widely cited articles in these areas. It is an invaluable resource for academics and those interested in cutting-edge analysis of current public policy issues.