Economics for Alfred Marshall, the last of the classical economists, is concerned with activities in the ordinary business of life. In that milieu, we find conflicts and chaotic behavior among people, firms, and countries, which make them conduct their affairs in different, and sometimes, ironic ways. Economic Ironies Throughout History explores, explains, predicts, and harnesses these ironies for economists and scholars alike. Szenberg and Ramrattan distill their core economic ironies from a vast history of philosophy and literature that applies to economic thought. They include philosophical, psychological, literary and linguistic discussions and the personalities behind those ideas such as Socrates, Kierkegaard, Hume, Freud, Jung, Saussure, and Barthes. This book is ideal for economists as well as scholars across the business, social science, and humanities fields.

This book provides a historical evaluation of banking reforms and structural changes in India over the past 25 years. Chapters cover issues in consolidation and restructuring, competition and concentration, performance evaluation in terms of cost efficiency and productivity, profitability, non-performing assets and technology use. The authors use specific regression models to measure the impact of these reforms on bank performance during this period and assess whether or not the consolidation phase is now complete. This volume will be of interest to researchers and academicians interested in the financial history of Indian Banking reforms.

This volume explores the concept of the honest merchant, taking a broad perspective and covering a wide range of aspects. It looks at the different types of "honest merchant" conceptions originating from different cultures and literary traditions. The book covers Japanese, Islamic, Scandinavian, Russian, German, Spanish, as well as other aspects, and studies different disciplinary backgrounds of the honest merchant, such as philosophical, economic, neuroethical, sociological and literary ones. The concept of the honest merchant has a long tradition in business ethics. In the Hanseatic League and in medieval Italy, the ideal of the honest businessman was taught since the late Middle Ages. It originated during a time when travelling merchants were often regarded with a sceptical eye. The honest merchants of their time however held clear principles in their business and took responsibility for their community. In later times, the religious notions of the concept lost their pivotal place to reason and morality. This book goes beyond the tradition of discussing business ethics in association with concepts from the Hanseatic League and medieval Italy, and puts the central concept of business ethics in a much greater perspective.

This book offers a vision of economics in which there is no place for universal laws of nature, and even for laws of a more probabilistic character. The author avoids interpreting the practice of economics as something that leads to the formulation of universal laws or laws of nature. Instead, chapters in the book follow the method of contemporary philosophy of science: rather than formulating suggestions for practicing scientists of how they should do research, the text describes and interprets the very practice of scientific research. This approach demonstrates how economists can explain economic phenomena not by subsuming them under general laws, but rather by building models of these phenomena, by referring to causes, or even by investigating what is in the nature of given factors, events, or circumstances to produce.

The book uses archival data to examine how access to micro-finance credit played a role in facilitating adjustment to blight during the Great Famine of Ireland. The author argues that the worst affected districts with a microfinance fund experienced substantially smaller population declines and larger increases in buffer livestock during the famine than those districts without a fund. The potentially limited capacity of credit access to mitigate the effects of a major environmental shock on the poorest, most vulnerable borrowers is also a key topic of discussion.

At the start of the eighteenth century Louis XIV needed to remit huge sums of money abroad to support his armies during the War of the Spanish Succession. This book explains how international bankers moved French money across Europe, and how the foreign exchange system was so overloaded by the demands of war that a massive banking crash resulted.

This book addresses issues that remain under-researched by feminist historians. They pertain to female economic contribution in specific geographical areas and countries such as Greece, Italy, a number of regions of France, Greek-speaking regions in the Ottoman-ruled Macedonia, and two countries in the Balkans: Romania and Bulgaria. Additionally, it compares and contrasts female economic agency in the above regions which is a field that hitherto lacks thorough study. Polly Thanailaki explores female contribution to the finances of their family and to the economy of their country and how they interlaced in a transnational historical setting, further exploring social norms and trading practices in these regions. The methodology is based on the study of original printed sources such as archives, newspapers, and journals of the period, along with secondary sources of literature. The book addresses the nexus of gender, economy, and society covering a broad spectrum of gender studies, economic history and social history in time and in geographic space.

British monetary policy was reactivated in 1951 when short-term interest rates were increased for the first time in two decades. The book explores the politics of formulating monetary policy in the 1950s and the techniques of implementing it, and discusses the parallels between the present monetary situation and that of 1951.

This book puts the illegal economy of the German capital during and after World War II into context and provides a new interpretation of Germany's postwar history. The black market, it argues, served as a reference point for the beginnings of the two new German states.

Capitalism has lifted millions out of poverty. Under its guiding hand, living standards throughout the Western world have been transformed. Further afield, the trail blazed by Japan is being followed by other emerging market countries across the globe, creating prosperity on a breathtaking scale.And yet, capitalism is unloved. From its discontents to its outright enemies, voices compete to point out the flaws in the system that allow increasingly powerful elites to grab an ever larger share of our collective wealth.In this incisive, clear-sighted guide, award winning Financial Times journalist John Plender explores the paradoxes and pitfalls inherent in this extraordinarily dynamic mechanism - and in our attitudes to it. Taking us on a journey from the Venetian merchants of the Rennaissance to the gleaming temples of commerce in 21st-century Canary Wharf via the South Sea Bubble, Dutch tulip mania and manic-depressive gambling addicts, Plender shows us our economic creation through the eyes of philosophers, novelists, poets, artists and the divines.Along the way, he delves into the ethics of debt; reveals the truth about the unashamedly materialistic artistic giants who pioneered copyrighting; and traces the path of our instinctive conviction that entrepreneurs are greedy, unethical opportunists, hell-bent on capital accumulation, while manufacturing is innately virtuous. Thoughtful, eloquent and above all compelling, Capitalism is a remarkable contribution to the enduring debate.

In the quarter century since its emergence from military rule and integration into the global economy, Bangladesh's economy has achieved high growth, reduced aid dependence and made remarkable improvement in social indicators while at the same time it continues to suffer from increasing inequality. This book analyses these successes and failures.

This book discusses the economics of transport infrastructure and the economic theorizing around transport infrastructure from 1850 to today. Transport infrastructure systems are continuously evolving over time. Since the mid-1800s these systems have grown in complexity and outreach. They have been important drivers of economic development but have also been important as economic agents in themselves. Over time transport infrastructure systems have taken on different functions as providers of simpler transport services or more developed value chain components. Transport infrastructure has also been a source for different arguments about economic theory and practice. Transport infrastructure systems are analysed from an institutional perspective where the long-term development of the ownership and financing of the systems, as well as the connection to different policy areas are elaborated. A longitudinal study of Sweden's transport infrastructure policy is used to exemplify driving factors causing change and transformation of the systems over time with different scale and scope.

Tourists are today urged to visit the 'birthplace of the Industrial Revolution', packaged as part of 'a glorious heritage'. Half a century and more ago the picture was very different. Then the Industrial Revolution was commonly treated as having been a social catastrophe which had brought 'a new barbarism' to the country. Donald Coleman traces the history of the term 'Industrial Revolution' and the uses to which it has been put. Originating in European radical Romanticism, popularised in English by Arnold Toynbee in the 1 880s, it has achieved, with its meaning transformed, the status of potent myth in the nation's history. The book examines industrial revolutions real and imaginary; illuminates some of the activities of businessmen engaged therein; considers attitudes towards the businessmen who have thus come to occupy the historical stage; and discusses the academic study of business history- a subject hardly imaginable without the Industrial Revolution. In the course of investigating these inter-related topics, the volume as a whole offers valuable insights into the ways in which economic history has been written and the concepts which have been invented and deployed in an effort to understand a central event in British history. This book provides an excellent introduction to the subject.

The book sets out to explore the economic motivations of imperial expansion under capitalism. This undoubtedly is related to two fundamental research questions in economic sciences. First, what factors explain the divergence in living standards across countries under the capitalist economic system? Second, what ensures internal and external stability of the capitalist economic system? The book adopts a unified approach to address these questions. Using the standard growth model it shows that improvements in living standards are dependent on access to raw materials, labour, capital, technology, and perhaps most importantly 'economies of scale'. Empires ensure scale economy through guaranteed access to markets and raw materials. The stability of the system depends on growth and distribution and it is not possible to have one without the other. However, the quest for growth and imperial expansion implies that one empire invariably comes into conflict with another. This is perhaps the most unstable and potentially dangerous characteristic of the capitalist system. Using extensive historical accounts the book shows that this inherent tension can be best managed by acknowledging mutual spheres of influence within the international system along the lines of the 1815 Vienna Congress. This timely publication addresses not only students and scholars of economics, geography, political science, and history, but also general readers interested in a better understanding of economic development, international relations, and the history of global capitalism.

Physiocracy, or the economic theory that a nation's wealth comes from is agricultural and land development, was a popular school of thought in France in the 18th century. The contribution and significance of the Physiocrats and Antiphysiocrats are explored in detail through chapter contributions by economists, philosophers, and social historians. The book concludes that neither the Physiocrats, nor the Antiphysiocrats were pure profit maximizers and that they all had the well-being of the commonwealth in mind. It brings to light previous studies only conducted in German and is the first analysis of Pfeiffer in a century, making the book of interest to any student or scholar of political economy and the history of economic thought. The contribution and significance of the Physiocrats and Antiphysiocrats are explored in detail through chapter contributions by economists, philosophers, and social historians. It brings to light previous studies only conducted in German and is the first analysis of Pfeiffer in a century, making the book of interest to any student or scholar of political economy and the history of economic thought.

The British economist Arthur Cecil Pigou (1877-59) reconceptualized economics as a theory of economic welfare and a logic of policy analysis. Misconceptions of his work abound. This book, an essay in demystification and the first reading of the entire Pigouvian oeuvre, stresses his pragmatic and historicist premises.

From 2007 to 2009, French food and beverage giant Danone and Chinese entrepreneur Zong Qinghou -- who is ranked number one on Forbes' China Rich List 2012 -- were embroiled in a highly rancorous dispute over their joint venture, Hangzhou Wahaha. It transpired that even French President Sarkozy reportedly found time in his 2007 three-day state visit to China to discuss the 'Wahaha' dispute with his Chinese counterpart, President Hu.Behind the melodrama of the 'Wahaha' dispute lies an important lesson for foreign companies in China. As a result of the global shift in power, the imperative for a foreign company to manage its Chinese Partner has never been stronger since China re-opened its doors for business in 1978. By drawing on the experiences of Danone, Nestle, Coca-Cola and SABMiller, this book provides an insight into why, as well as, how the managing of a Chinese Partner can deliver sustainable value for a joint venture in China.

This book acts as a welcome foil to current thinking on the concept of globalisation, which tends to be divided into two distinct camps: one which suggests that the neo-liberal model has triumphed and has no realistic alternative, and another which argues that globalisation, in its most extreme form, does not really exist, rather having evolved gradually from the very beginnings of industrialisation. Bob Milward presents an alternative view of globalisation and argues that indeed there has been a continuum in capitalist development, but that this has been forged by historical processes and the dynamism of the competitive forces of capitalism. He identifies the emergence of monopoly capitalism as an important shaping factor, and in so doing sheds light on issues of underdevelopment, multinational imperialism and crises in advanced capitalist economies. This radical, multidisciplinary account of the condition of the global economy, encompassing a critique of the neo-liberal foundations of orthodox global analysis, will appeal to an extensive audience. Students, researchers and academics in the fields of economics, heterodox economics, economic geography, politics, sociology, development studies, international relations and public policy will find Globalisation? Internationalisation and Monopoly Capitalism to be an engaging read.

A reassessment of the impact of the Hanoverian succession. Was the accession of the Hanoverian dynasty of Brunswick to the throne of Britain and its empire in 1714 merely the final act in the 'Glorious Revolution' of 1688-89? Many contemporaries and later historians thought so, explainingthe succession in the same terms as the earlier revolution - deliverance from the national perils of 'popery and arbitrary government'. By contrast, this book argues that the picture is much more complicated than straightforwardcontinuity between 1688-89 and 1714. Emphasizing the plurality of post-Revolutionary developments, it explores early eighteenth-century Britain in light of the social, political, economic, religious and cultural transformations inaugurated by the 'Glorious Revolution' of 1688-1689 and its ensuing settlements in church, state and empire. The revolution of 1688-89 was much more transformative and convulsive than is often assumed; and the book shows that, although the Hanoverian Succession did embody a clear-cut reaffirmation of the core elements of the Revolution settlement - anti-Jacobitism and anti-popery - its impact on various post-Revolutionary developments in Church, state, Union, intellectual culture, international relations, political economy and empire is decidedly less clear. BRENT S. SIROTA is Associate Professor in the Department of History at North Carolina State University. ALLAN I. MACINNES is Emeritus Professor of History at the University of Strathclyde. CONTRIBUTORS: James Caudle, Megan Lindsay Cherry, Christopher Dudley, Robert I. Frost, Allan I. Macinnes, Esther Mijers, Steve Pincus, Brent S. Sirota, Abigail L. Swingen, Daniel Szechi, Amy Watson

'Jha is the right scholar and economist to take readers through the development of the Indian economy. Readers will be in good hands.' -Edmund Phelps, Columbia University, USA, and winner of the 2006 Nobel Prize in Economics 'This is perhaps the best and most scholarly contribution to understanding the Indian Economy and Society. Its rich historical perspective and a profound understanding of how India has evolved into a major economic power set standards of scholarship and analytical rigour that will be hard to surpass". -Raghav Gaiha, University of Manchester, UK 'Linking of economy and society is increasingly recognised as essential for addressing policy challenges by the current phase of globalisation. As such this study should be valuable not just for those studying India, but also for those interested in global developments.' -Mukul Asher, National University of Singapore, Singapore 'This book is a tour-de-force review of the fundamental topics on the Indian political economy and society that are relevant for any committed social scientist to be aware of.' -Sumit K. Majumdar, University of Texas at Dallas, USA This two-volume work provides an account of how India has been meeting its myriad of economic, political and social challenges and how things are expected to evolve in the future. Despite enormous challenges at the time of independence, India chose to address them within a secular, liberal, democratic framework, which guaranteed several fundamental rights. Challenges included intense mass poverty and hunger, very poor literacy and educational abilities of the population, the task of uniting a country with scores of languages and ethnicities ruled by different entities for decades and persistent threats of external aggression, to name just a few. Over time, incomes and opportunities have expanded enormously and India has regained her self-confidence as a nation. In this first volume, Jha presents a long view of the performance of the Indian economy and discusses key aspects of India's population, land and labor. In addition, the Indian Constitution and basic structure of governance are analysed within the context of major economic and political developments in independent India.

William Mott examines the relationships between economic growth and international conflict in history and theory, developing and analyzing a set of observed empirical modern growth-conflict relationships over long periods, and presenting an explanation of the observations. After introducing the growth-conflict relationship as the unit of analysis, he identifies historical perceptions of the growth-conflict relationship from ancient times through the modern era. Mott offers an alternative theoretical construct for further investigation, and speculates about the impact of these results on orthodox political-economic theory. The results of this work carry powerful implications for national management of foreign direct investment and trade in both home countries and host nations.

The Carter administration took office at an unfortunate time as far as economics is concerned. The economy was floundering, and the oil crisis and energy problems were all too prevalent. The author explains that as Carter turned to fighting inflation, he abandoned the traditional Democratic agenda and became a forerunner of Reagan. In the end, he did not conquer inflation, but he did sacrifice his ambitious programs for restructuring government, crafting a lasting energy program, and reforming the tax structure, welfare, and health care.