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Growing Public
Par Peter H. Lindert. 2004
Growing Public examines the question of whether social policies that redistribute income impose constraints on economic growth. Taxes and transfers…
have been debated for centuries, but only now can we get a clear view of the whole evolution of social spending. What kept prospering nations from using taxes for social programs until the end of the nineteenth century? Why did taxes and spending then grow so much, and what are the prospects for social spending in this century? Why did North America become a leader in public education in some ways and not others? Lindert finds answers in the economic history and logic of political voice, population aging, and income growth. Contrary to traditional beliefs, the net national costs of government social programs are virtually zero. This book not only shows that no Darwinian mechanism has punished the welfare states, but uses history to explain why this surprising result makes sense. Contrary to the intuition of many economists and the ideology of many politicians, social spending has contributed to, rather than inhibited, economic growth.Europe's Crisis, Europe's Future
Par Kemal Dervi, Jacques Mistral. 2014
The eurozone crisis started in Greece in 2009-10, spread into Ireland and Portugal, and, from there, quickly spread to the…
larger economies of Spain and Italy. By the autumn of 2011, it threatened the entire global financial system. In Europe's Crisis, Europe's Future, an international group of economic analysts provides an insightful view of the crisis.How did mismanagement of a crisis in a marginal economy spark such a wildfire? After all, Greece is responsible for only 2% of the eurozone's total GDP, yet the crisis in Athens threatened to grow into a worldwide contagion.Individual chapters describe the onset, evolution, and ramifications of the euro crisis from the perspective of three countries especially hard hit--Greece, Italy, and Spain; the concerns, priorities, and impacts in continental leaders France and Germany; the effects and lessons in key policy contexts--national and international finance and social policies.A concluding chapter by Kemal Dervi discusses the possibility of a renewed vision for the European Union in the 2020s, one that would accommodate the needs of greater political integration in the eurozone within a larger European Union where some countries, such as the United Kingdom, will keep their national currencies.ContentsIntroduction: Kemal Dervi and Jacques Mistral (Brookings) Country Perspectives 1. Greece, by Theodore Pelagidis and Michael Mitsopoulos (Brookings)2. Spain, by Angel Pascual-Ramsay (Brookings and ESADE Business School)3. Italy, by Domenico Lombardi (Centre for International Governance Innovation) and Luigi Paganetto (University of Rome)4. France, by Jacques Mistral5. Germany, by Friedrich Heinemann (Center for European Economic Research) Cross-Cutting Issues6. The Financial Sector, by Douglas Elliott (Brookings)7. Social Policies, by Jacques MistralConclusion, by Kemal DerviCapitalism 4.0
Par Anatole Kaletsky. 2010
In early 2009, many economists, financiers, and media pundits were confidently predicting the end of the American-led capitalism that has…
shaped history and economics for the past 100 years. Yet the U.S. economic model, far from being discredited, may be strengthened by the financial crisis.In this provocative book, Anatole Kaletsky re-interprets the financial crisis as part of an evolutionary process inherent to the nature of democratic capitalism. Capitalism, he argues, is resilient. Its first form, Capitalism 1.0, was the classical laissez-faire capitalism that lasted from 1776 until 1930. Next was Capitalism 2.0, New Deal Keynesian social capitalism created in the 1930s and extinguished in the 1970s. Its last mutation, Reagan-Thatcher market fundamentalism, culminated in the financially-dominated globalization of the past decade and triggered the recession of 2009-10. The self-destruction of Capitalism 3.0 leaves the field open for the next phase of capitalism's evolution. Capitalism is likely to transform in the coming decades into something different both from the totally deregulated market fundamentalism of Reagan/Thatcher and from the Roosevelt-Kennedy era. This is Capitalism 4.0.The Chinese Yuan
Par Peter G. Zhang, Thomas Chan. 2011
Few topics have attracted as much attention worldwide in recent years as the RMB. These debates have gained added urgency…
in light of the financial crisis and the topic of RMB revaluation is now being actively debated in countries all over the world from Tunisia to the United States. This book explores the ever-changing role of the RMB and the related derivative products. However, it does so from a view that is heavily influenced by the fallout from the financial crisis as well as the in the context of the increasing maturity of the Chinese capital markets. The author has drawn on his experience as a regulator to provide invaluable views, insights and information on RMB derivative products and the development of this market going forward. Key topics include: Overview of current China economy and its capital market In-depth analysis on the China's banking system and foreign exchange system Extensive analysis of on-shore and off-shore financial products in China Explanation of the needs and reasons for RMB products innovation Insights into the internationalization of the RMB Not only will this book leave its readers with a much clearer idea of the structure of China's capital markets but it also gives insights on the market going forward leveraged through Peter Zhang's many years of experience as both a senior banker and through his integral role in the key regulatory authority of the banking sector, the CBRC.Value Creation and Sport Management
Par Sandalio Gómez Kimio Kase, Ignacio Urrutia, Sandalio Gómez, Kimio Kase. 2010
The sports business has become one of the fastest-growing industries in recent years. Sports organizations now have the potential to…
generate massive amounts of revenue through a variety of different channels, including broadcasting rights, advertising and branding. However, the rise of sports-related business has so far received relatively little attention from management scholars and social scientists. This book argues that we can no longer afford to ignore this important economic and social phenomenon. It presents a conceptual framework based on the concept of value creation to show how we can understand and explain the success and failure of sports organizations. Key concepts are illustrated with case studies of sporting organizations, including Real Madrid, FC Barcelona and the Americas Cup. Written by a team of authors from one of Spain's leading business schools, it provides a unique set of theoretical and practical insights for researchers and sports organization managers.Human Capital and Institutions: A Long-run View
Par David Eltis, Frank D. Lewis, Kenneth L. Sokoloff. 2009
Human Capital and Institutions is concerned with human capital in its many dimensions and brings to fore the role of…
political, social, and economic institutions in human capital formation and economic growth. Written by leading economic historians, including pioneers in historical research on human capital, the chapters in this text offer a broad-based view of human capital in economic development. The issues they address range from nutrition in pre-modern societies to twentieth-century advances in medical care; from the social institutions that provided temporary relief to workers in the middle and lower ranges of the wage scale to the factors that affected the performance of those who reached the pinnacle in business and art; and from political systems that stifled the advance of literacy to those that promoted public and higher education. Just as human capital has been a key to economic growth, so has the emergence of appropriate institutions been a key to the growth of human capital.Commodity Price Dynamics: A Structural Approach
Par Craig Pirrong. 2012
Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past…
decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling – and extreme – movements in the prices of commodities from aluminium to oil to soybeans to zinc.Notes On The Theory Of Choice
Par David Kreps. 1988
In this book, Professor Kreps presents a first course on the basic models of choice theory that underlie much of…
economic theory. This course, taught for several years at the Graduate School of Business, Stanford University, gives the student an introduction to the axiomatic method of economic analysis, without placing too heavy a demand on mathematical sophistication.The course begins with the basics of choice and revealed preference theory and then discusses numerical representations of ordinal preference. Models with uncertainty come next: First is von Neumann-Morgenstern utility, and then choice under uncertainty with subjective uncertainty, using the formulation of Anscombe and Aumann, and then sketching the development of Savage's classic theory. Finally, the course delves into a number of special topics, including de Finetti's theorem, modeling choice on a part of a larger problem, dynamic choice, and the empirical evidence against the classic models.The Age of Aging
Par George Magnus. 2009
The year 2008 marks the beginning of the baby boomer retirement avalanche just as the different demographics in advanced and…
most developing countries are becoming more pronounced. People are worrying again that developments in global population trends, food supply, natural resource availability and climate change raise the question as to whether Malthus was right after all.The Age of Aging explores a unique phenomenon for mankind and, therefore, one that takes us into uncharted territory. Low birth rates and rising life expectancy are leading to rapid aging and a stagnation or fall in the number of people of working age in Western societies. Japan is in pole position but will be joined soon by other Western countries, and some emerging markets including China. The book examines the economic effects of aging, the main proposals for addressing the implications, and how aging societies will affect family and social structures, and the type of environment in which the baby-boomers' children will grow up.The contrast between the expected old age bulge in Western nations and the youth bulge in developing countries has important implications for globalization, and for immigration in Western countries - two topics already characterized by rising discontent or opposition. But we have to find ways of making both globalization and immigration work for all, for fear that failure may lead us down much darker paths. Aging also brings new challenges for the world to address in two sensitive areas, the politicization of religion and the management of international security. Governments and global institutions will have to take greater responsibilities to ensure that public policy responses are appropriate and measured.The challenges arising within aging societies, and the demographic contrasts between Western and developing countries make for a fractious world - one that is line with the much-debated 'decline of the West'. The book doesn't flinch from recognizing the ways in which this could become more visible, but also asserts that we can address demographic change effectively if governments and strengthened international institutions are permitted a larger role in managing change.Democratic Militarism
Par Jonathan D. Caverley. 2014
Why are democracies pursuing more military conflicts, but achieving worse results? Democratic Militarism shows that a combination of economic inequality…
and military technical change enables an average voter to pay very little of the costs of large militaries and armed conflict, in terms of both death and taxes. Jonathan Caverley provides an original statistical analysis of public opinion and international aggression, combined with historical evidence from the late Victorian British Empire, the US Vietnam War effort, and Israel's Second Lebanon War. This book undermines conventional wisdom regarding democracy's exceptional foreign policy characteristics, and challenges elite-centered explanations for poor foreign policy. This accessible and wide ranging book offers a new account of democratic warfare, and will help readers to understand the implications of the revolution in military affairs.The Baseball ECONOMIST
Par Bradbury, J. C.. 2007
Freakonomics meets Moneyball in this provocative exposé of baseball?s most fiercely debated controversies and some of its oldest, most dearly…
held myths Providing far more than a mere collection of numbers, economics professor and popular blogger J. C. Bradbury, shines the light of his economic thinking on baseball, exposing the power of tradeoffs, competition, and incentives. Utilizing his own ?sabernomic? approach, Bradbury dissects baseball topics such as: ? Did steroids have nothing to do with the recent homerun records? Incredibly, Bradbury?s research reveals steroids probably had little impact. ? Which players are ridiculously overvalued? Bradbury lists all players by team with their revenue value to the team listed in dollars?including a dishonor role of those players with negative values?updated in paperback to include the 2007 season. ? Does it help to lobby for balls and strikes? Statistics alone aren?t enough anymore. This is a refreshing, lucid, and powerful read for fans, fantasy buffs, and players?as well as coaches at all levels?who want to know what is really happening on the field. .Capitalism Reassessed
Par Frederic L. Pryor. 1970
Capitalism Reassessed provides a broad view of different types of advanced capitalist economic systems and is based on an empirical…
analysis of twenty-one OECD nations. The book looks at why capitalism developed in Western Europe rather than elsewhere. It shows the close influences of the cultural system on the economic system. The analysis compares the economic and social performance of the capitalist economic systems along a variety of economic and social criteria. It also analyzes how capitalism will change in the twenty-first century.Owning Development: Creating Policy Norms in the IMF and the World Bank
Par Susan Park, Antje Vetterlein. 2010
As pillars of the post-1945 international economic system, the International Monetary Fund (IMF) and the World Bank are central to…
global economic policy debates. This book examines policy change at the IMF and the World Bank, providing a constructivist account of how and why they take up ideas and translate them into policy, creating what we call 'policy norms'. The authors compare processes of policy emergence and change and, using archival and interview data, analyse nine policy areas including gender, debt relief, and tax and pension reform. Each chapter traces the policy norm process in order to shed light on the main sources and mechanisms for norm change within international organisations. Owning Development details the strength of these policy norms which emerge, then either stabilise or decline. The book establishes valuable insights into the strength of current development policies propounded by international organisations and the possibility for change.The Cambridge History of Capitalism: From 1848 to the Present
Par Jeffrey G. Williamson, Larry Neal. 2014
The second volume of The Cambridge History of Capitalism provides an authoritative reference on the spread and impact of capitalism…
across the world, and the varieties of responses to it. Employing a wide geographical coverage and strong comparative outlook, a team of leading scholars explore the global consequences that capitalism has had for industry, agriculture and trade, along with the reactions by governments, firms and markets. The authors consider how World War I halted the initial spread of capitalism, but global capitalism arose again by the close of the twentieth century. They explore how the responses of labor movements, compounded by the reactions by political regimes, whether defensive or proactive, led to diverse military and welfare consequences. Beneficial results eventually emerged, but the rise and spread of capitalism has not been easy or smooth. This definitive volume will have widespread appeal amongst historians, economists and political scientists.China's Private Army: Protecting the New Silk Road
Par Alessandro Arduino. 2018
This book illustrates the role that Private Security Companies PSC with Chinese characteristics play in protecting…
people and property associated with the Belt and Road Initiative BRI The revival of the ancient Silk Road economic belt combined with the 21st Century sea lanes of communication known as the road is intended to enhance global connectivity and increase commercial activity However the socio-political risks associated with Chinese outbound direct investments are often overlooked Terrorism separatism kidnapping and other risks are mostly new to Chinese companies some of which are operating abroad for the first time Economic globalization and the transnational exploitation of natural resources have increased the need for Chinese-owned PSCs in spite of the disdain for the profession of a lance for hire Due to peculiar geo-strategic and geo-economic features the belt from Central Asia to Pakistan and the road from the Somali coast to the Strait of Malacca are characterized by a high level of insecurity This book s focus on how the state s monopoly of force privatization can play a significant role in protecting the New Silk Road will be of interest to policymakers journalists and academicsThis study analyzes the impact of the revision of the Indian Patent Act 2005 on the Indian pharmaceutical…
industry which has been achieving healthy growth over the past 30 to 40 years or more As of 2005 the Indian pharmaceutical industry was ranked as No 4 in the world in terms of volume and 15th in terms of value WTO TRIPS required India to revise its patent law however and to introduce product patents in the pharmaceutical field Many not only in India but also in the world had argued that the local pharmaceutical industry could deteriorate once a strong patent law such as a product patent was introduced However the Indian pharmaceutical industry has continued to develop rapidly even after the revision of the patent law in 2005 This present study started with efforts to work out the reason the Indian pharmaceutical industry successfully expanded even after the introduction of product patents The study found that a unique article the so-called 3-d inserted in the Patent Act 2005 might have played a role in diminishing or preventing a negative impact from the introduction of a strong patent system such as a product patents The study also considers that a change of the business model adopted by the Indian pharmaceutical industry might have contributed to diminishing the effect of the negative impact from the introduction of a strong patent law This study also covers recent developments in India regarding intellectual property rights and the pharmaceutical industry One is India s very first compulsory license granted to an Indian pharmaceutical company Natco against the large German pharmaceutical firm Bayer and the second is the Supreme Court decision on Novartis Gleevec The study analyzes the fundamental problems that caused these two events access to medicine and gaps in the concept of intellectual property in the pharmaceutical industry As possible solutions to these fundamental issues this book explores the ideas of voluntary licensing and tiered pricingBetterness
Par Umair Haque. 2011
Betterness: Economics for Humans is a powerful call to arms for a post-capitalist economy. Umair Haque argues that just as…
positive psychology revolutionized our understanding of mental health by recasting the field as more than just treating mental illness, we need to rethink our economic paradigm. Why? Because business as we know it has reached a state of diminishing returns-though we work harder and harder, we never seem to get anywhere. This has led to a diminishing of the common wealth: wage stagnation, widening economic inequality, the depletion of the natural world, and more. To get out of this trap, we need to rethink the future of human exchange. In short, we need to get out of business and into betterness.HBR Singles provide brief yet potent business ideas, in digital form, for today's thinking professional.The Economics of Tax and Social Security in Japan
Par Yoshimi Adachi. 2018
This book integrates the fundamentals of quantitative significance using existing estimates of the elasticities of demand for tax …
health insurance and medical services in a static microsimulation model It serves as a guide to the financial and social basics of health insurance and provides the reader with the intellectual groundwork indispensable for understanding the incorrect assumptions about the elasticities of demand and pattern of tax and health insurance Most countries feel constant pressure because expenditure is increasing and resources are scarce The topics addressed in this book including several frameworks leading to over-insurance excess demand for medical care and rapid expenditure growth in the medical care sector Illustrated by carefully chosen examples and supported by extensive data analyses this book is highly recommended to readers who seek an in-depth and up-to-date integrated overview of the ever-expanding theoretical and quantitative fields of containing costs increasing funding for health services or bothGlobal Financial Integration Thirty Years On
Par Geoffrey R. D. Underhill, Jasper Blom, Daniel Mügge. 2010
Making the Market: Victorian Origins of Corporate Capitalism
Par Paul Johnson. 2010
Corporate capitalism was invented in nineteenth-century Britain; most of the market institutions that we take for granted today - limited…
companies, shares, stock markets, accountants, financial newspapers - were Victorian creations. So were the moral codes, the behavioural assumptions, the rules of thumb and the unspoken agreements that made this market structure work. This innovative study provides the first integrated analysis of the origin of these formative capitalist institutions, and reveals why they were conceived and how they were constructed. It explores the moral, economic and legal assumptions that supported this formal institutional structure, and which continue to shape the corporate economy of today. Tracing the institutional growth of the corporate economy in Victorian Britain and demonstrating that many of the perceived problems of modern capitalism - financial fraud, reckless speculation, excessive remuneration - have clear historical precedents, this is a major contribution to the economic history of modern Britain.