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"POLITICAL SCIENCE Economic Conditions."
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The implosion of contemporary capitalism
\"Renowned political economist Samir Amin, engaged in a unique lifelong effort both to narrate and affect the human condition on a global scale, brings his analysis up to the present--the world of 2013. The key events of our times--financial crisis, the emerging nations, globalization, financialization, political Islam, Euro-zone implosion--are related in a coherent, historically based, account. Changes in contemporary capitalism require an updating of definitions and analysis of social classes, class struggles, political parties, social movements and the ideological forms in which they express their modes of action in the transformation of societies. Amin meets this challenge and lays bare the reality of monopoly capitalism in its general, global form. Ultimately, Amin demonstrates that this system is not viable and that the implosion in progress is unavoidable. Whether humanity will rise to the challenge of building a more humane global order free of the contradictions of capital, however, is yet to be seen\"-- Provided by publisher.
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The Roman Market Economy
The quality of life for ordinary Roman citizens at the height of the Roman Empire probably was better than that of any other large group of people living before the Industrial Revolution.The Roman Market Economyuses the tools of modern economics to show how trade, markets, and the Pax Romana were critical to ancient Rome's prosperity.
Peter Temin, one of the world's foremost economic historians, argues that markets dominated the Roman economy. He traces how the Pax Romana encouraged trade around the Mediterranean, and how Roman law promoted commerce and banking. Temin shows that a reasonably vibrant market for wheat extended throughout the empire, and suggests that the Antonine Plague may have been responsible for turning the stable prices of the early empire into the persistent inflation of the late. He vividly describes how various markets operated in Roman times, from commodities and slaves to the buying and selling of land. Applying modern methods for evaluating economic growth to data culled from historical sources, Temin argues that Roman Italy in the second century was as prosperous as the Dutch Republic in its golden age of the seventeenth century.
The Roman Market Economyreveals how economics can help us understand how the Roman Empire could have ruled seventy million people and endured for centuries.
eBook
American economic history : a dictionary and chronology
\"Covering figures, events, policies, and organizations, this comprehensive reference tool enhances readers' appreciation of the role economics has played in U.S. history since 1776\"-- Provided by publisher.
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Political Bubbles
Behind every financial crisis lurks a \"political bubble\"--policy biases that foster market behaviors leading to financial instability. Rather than tilting against risky behavior, political bubbles--arising from a potent combination of beliefs, institutions, and interests--aid, abet, and amplify risk. Demonstrating how political bubbles helped create the real estate-generated financial bubble and the 2008 financial crisis, this book argues that similar government oversights in the aftermath of the crisis undermined Washington's response to the \"popped\" financial bubble, and shows how such patterns have occurred repeatedly throughout US history.
The authors show that just as financial bubbles are an unfortunate mix of mistaken beliefs, market imperfections, and greed, political bubbles are the product of rigid ideologies, unresponsive and ineffective government institutions, and special interests. Financial market innovations--including adjustable-rate mortgages, mortgage-backed securities, and credit default swaps--become subject to legislated leniency and regulatory failure, increasing hazardous practices. The authors shed important light on the politics that blinds regulators to the economic weaknesses that create the conditions for economic bubbles and recommend simple, focused rules that should help avoid such crises in the future.
The first full accounting of how politics produces financial ruptures,Political Bubblesoffers timely lessons that all sectors would do well to heed.
eBook
Policy paradigms in theory and practice : discourses, ideas and anomalies in public policy dynamics
\"The contributors investigate policy paradigms and their ability to explain the policy process - actors, ideas, discourses and strategies employed - to provide readers with a better understanding of public policy and its dynamics. Drawing together leading researchers in the field, this edited collection offers a unique insight into a selection of policy paradigms, investigating their significance for public policy, policy making and policy change, in both theory and practice. The contributions open up new avenues of research on policy dynamics while re-evaluating the accuracy and effectiveness of existing policy orthodoxy\"-- Provided by publisher.
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Learning and Expectations in Macroeconomics
A crucial challenge for economists is figuring out how people interpret the world and form expectations that will likely influence their economic activity. Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expectations. Here George Evans and Seppo Honkapohja bring new explanatory power to a variety of expectation formation models by focusing on the learning factor. Whereas the rational expectations paradigm offers the prevailing method to determining expectations, it assumes very theoretical knowledge on the part of economic actors. Evans and Honkapohja contribute to a growing body of research positing that households and firms learn by making forecasts using observed data, updating their forecast rules over time in response to errors. This book is the first systematic development of the new statistical learning approach.
Depending on the particular economic structure, the economy may converge to a standard rational-expectations or a \"rational bubble\" solution, or exhibit persistent learning dynamics. The learning approach also provides tools to assess the importance of new models with expectational indeterminacy, in which expectations are an independent cause of macroeconomic fluctuations. Moreover, learning dynamics provide a theory for the evolution of expectations and selection between alternative equilibria, with implications for business cycles, asset price volatility, and policy. This book provides an authoritative treatment of this emerging field, developing the analytical techniques in detail and using them to synthesize and extend existing research.
eBook
Political economy and the aid Industry in Asia
\"The international aid industry's experimentation with political economy analysis is on the road to nowhere, so long as major assumptions remain unchallenged; namely, that development is a public good and reform comes from experts and enlightened reformers working in partnership on new institutions, whilst development failures are the result of information failures or perverse incentives, as collective action problems.This book provocatively argues that donor efforts to think and work more politically have not adequately addressed, to date, the structural dimensions of power and interests and the political economy of the aid industry itself. The authors address these 'elephants in the room' via a lively critique of technical and agency-focused political economy approaches and the sustained application of an original typology for evaluating the commitments of reform actors and strength of their alliances with donors. Highlighting the need for donors to engage more tactically and opportunistically to achieve incremental improvements in the lives of the poor, this book will be a valuable resource for development practitioners and scholars of international political economy and international development. \"-- Provided by publisher.
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Building Business in Post-Communist Russia, Eastern Europe, and Eurasia
Prior to 1989, the communist countries of Eastern Europe and the USSR lacked genuine employer and industry associations. After the collapse of communism, industry associations mushroomed throughout the region. Duvanova argues that abusive regulatory regimes discourage the formation of business associations and poor regulatory enforcement tends to encourage associational membership growth. Academic research often treats special interest groups as vehicles of protectionism and non-productive collusion. This book challenges this perspective with evidence of market-friendly activities by industry associations and their benign influence on patterns of public governance. Careful analysis of cross-national quantitative data spanning more than 25 countries, and qualitative examination of business associations in Russia, Ukraine, Kazakhstan and Croatia, shows that postcommunist business associations function as substitutes for state and private mechanisms of economic governance. These arguments and empirical findings put the long-standing issues of economic regulations, public goods and collective action in a new theoretical perspective.
eBook
Money : 5,000 years of debt and power
\"Founder of the influential heterodox regulation school offers a new theory of money, tracing it's history back 1,000 years This book's goal is to understand money in all its complexity. As a link between the individual and the collective, over time money transmits sovereign power to the economy, by way of its grip on finance and thus on the debt system. But liquidity is also the object around which everyone's desires are polarised. Keeping a hold over this ambivalence demands the construction - and continual bolstering - of confidence. For from the destruction of this confidence come the crises that resurrect the absolute desire for liquidity, paralysing activity. Money is embedded in our societies, and we can only understand it by way of a multi-disciplinary approach that mobilises the tools of anthropology, history and political economy. This book covers five thousand years of history in order to grasp the unity of money as a phenomenon and its relationship with sovereignty, by way of the combined transformations of both political orders and monetary systems. Basing ourselves on these foundations we can understand the distinct eras of the regulation of money and the crises that have traversed capitalism, up to the transformations of our own time\"-- Provided by publisher.
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Awakening Giants, Feet of Clay
The recent economic rise of China and India has attracted a great deal of attention--and justifiably so. Together, the two countries account for one-fifth of the global economy and are projected to represent a full third of the world's income by 2025. Yet, many of the views regarding China and India's market reforms and high growth have been tendentious, exaggerated, or oversimplified.Awakening Giants, Feet of Clayscrutinizes the phenomenal rise of both nations, and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter century. Exploring the challenges that both countries must overcome to become true leaders in the international economy, Pranab Bardhan looks beyond short-run macroeconomic issues to examine and compare China and India's major policy changes, political and economic structures, and current general performance.
Bardhan investigates the two countries' economic reforms, each nation's pattern and composition of growth, and the problems afflicting their agricultural, industrial, infrastructural, and financial sectors. He considers how these factors affect China and India's poverty, inequality, and environment, how political factors shape each country's pattern of burgeoning capitalism, and how significant poverty reduction in both countries is mainly due to domestic factors--not global integration, as most would believe. He shows how authoritarianism has distorted Chinese development while democratic governance in India has been marred by severe accountability failures.
Full of valuable insights,Awakening Giants, Feet of Clayprovides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.
eBook