The Economics of Alfred Marshall brings together a number of leading international scholars for a timely reappraisal of Marshall's contribution to the development of economics. The aims of the contributors are firstly to revisit the work of Alfred Marshall and to investigate the unity of his projects, which contemporary authors often tend to underestimate; and secondly to show how Marshall's approach is not only a subject for historians of economic thought, but may also provide a message that is relevant for the progress of economics.

This book explores family economic decision-making in the United States from the nineteenth century through present day, specifically looking at the relationship between family resource allocation decisions and government policy. It examines how families have responded to incentives and constraints established by diverse federal and state policies and laws, including the regulation of marriage and of female labor force participation, child labor and education policies-including segregation-social welfare programs, and more. The goal of this book is to present family economic decisions throughout US history in a way that contextualizes where the US economy and the families that drive it have been. It goes on to discuss the role public policies have played in that journey, where we need to go from here, and how public policies can help us get there. At a time when American families are more complex than ever before, this volume will educate readers on the often unrecognized role that government policies have on our family lives, and the uncelebrated role that family economic decision-making has on the future of the US economy.

This book, the second of two volumes, continues the authors' ground-breaking re-examination of India's history and political economy. This volume describes the economic fortunes of India in the second half of the 20th century. Beginning with the reconstruction of the Planning Commission and India's hybrid model of economic planning, the authors describe the multiple shocks weathered by the system before being replaced with a fully free market model after the collapse of the Soviet Union. Chapters consider the stresses placed on India's organisation by the shocks of the twentieth century, from its experiments with a socialist economy to its embrace of the Washington consensus in the 1980s. The impact of the invasion of China in 1962 and India's struggle to find its feet post-partition are also given detailed analysis. The book's unique perspective helps to shed light, for the first time, on how India's organisational structure negotiated the country's immense historical and cultural inheritance with the stresses of a twentieth century nation state.

This is the eagerly-awaited first volume of the definitive History of the British Coal Industry. Well before 1700 Britain had become heavily dependent upon coal for its fuel, and coal mining had taken its place among the nation's staple industries. John Hatcher traces the production and trade of coal from the intermittent small-scale activity which prevailed in the Middle Ages to the rapid expansion and rising importance which characterized the early modern era. Thoroughly grounded in a formidable range of sources, the book explores the economics and management of mining, the productivity and profitability of colliery enterprise, and the progress of technology. Dr Hatcher examines the owners and operators of collieries and the sources of mining capital, as well as the colliers themselves, their working conditions and earnings. He argues that the spectacular growth of coal output in this period was achieved more through evolutionary than revolutionary processes. This is a scholarly, detailed, and comprehensive study, which will be an essential source for all historians of the medieval and early modern economy, and fascinating reading for anyone with an interest in the British coal industry.

This collection of essays was commissioned for the fiftieth anniversary of the incorporation of accountants in Scotland, the country in which accountants were first chartered. It attempts to trace the origin and growth of the profession relating to accounts, auditing, and bookkeeping. Topics include ancient systems of accounting; early Italian accountants; accounting in Scotland, England, Ireland, Europe, the British colonies, and the United States; and the future of the profession. Edited by Richard Brown, contributors include John S. Mackay, Edward Boyd, J. Row Fogo, Joseph Patrick, and Alexander Sloan.

This book analyses the economic history of the nuclear program in Spain, from its inception in the 1950s to the nuclear moratorium in the early 1980s, and investigates the economic, financial and business origins of atomic energy in Spain. The actual dimension of the Spanish nuclear sector, which exceeded the relative economic and political clout of the country at the time, reflects the combination of domestic and foreign interests. Each contribution inserts the Spanish case within the international development of nuclear energy, but also shows how the Spanish nuclear program came about, how it was financed, and who the main architects and beneficiaries at the industrial, financial, commercial and banking levels were; all without losing sight of the energy policy aspects such as energy mix and energy security. The volume provides useful analysis and sources for a variety of core fields across the social sciences including economic history of post-war Europe, industrial and energy policy, international relations and history of technology.

This volume of intellectual biography records the work of Michal Kalecki's maturity: his work on monetary economics and the theory of profits; his work on the problems of socialism and developing countries; and the extension of his theory of capitalism to define his work in relation to Keynes and previous political economic principles. Kalecki had, by 1939, laid out the essential elements of his theory of the business cycle in capitalism. This book begins at Oxford where, at the Institute of Statistics, he worked on the economic planning and financing of World War Two, as well as extending and detailing the particulars of his theory and examining the conditions for full employment in the post-War international monetary and financial system. Kalecki would then work for the United Nations on full employment, inflation, and developing countries. He departed from the United Nations in 1955, and returned to Poland to extend two new directions of his ideas - on the economics of developing countries and his theory of growth in the socialist economy, alongside further work on business cycles. This book is essential reading for all those who want to understand Kalecki's lasting contribution to economic theory and policy.

With tensions rising over Greece's current debt crisis, this study chronicles the Occupation Loan that was forcibly obtained by the Third Reich from Greece in 1942-44. It demonstrates why Greece's claim for the repayment of the loan is still valid and endeavours to estimate its present value. To overcome the absence of a normal debt agreement between the two countries, various assessments of its current value are presented and discussed. A proposal is outlined on how the German obligation can be settled within the bailout agreement that Greece has signed to face the current debt crisis. Resolving a longstanding issue and bringing justice to the sacrifices that Greece made during WW2, the settlement will also help to mitigate the hostile stereotyping that is presently developing between the two countries. This text provides a close study of Greece's economic history and present crisis. It will make essential reading for scholars and students of economic history and those interested in the European economic crisis.

Corden has written a charming and insightful account of his professional and personal life, from his childhood in Breslau, Germany, until his retirement in Melbourne. The book is divided into two parts. Part I considers Corden's early life, from a young boy growing up in Nazi Germany, to his immigration from England to Australia and what that means for the author's self-identity. Part II addresses Corden's work on the Australian Protection Policy for which he is perhaps best known, before reflecting upon the author's time at Oxford University and the Australian National University, and, finally, moving on to review contributions made at the IMF, Johns Hopkins University, and The World Bank. This book will be of interest to all aspiring economists, as well as established economists familiar with Corden's work. It is an inspiring and profound record of the intellectual journey made by one of Australia's best known economists.

This account of monetary regimes since 1900 shows how the role of policy has changed, and how this has related to experience of inflation and the real economy, as well as to changes in political philosophies. The narrative concentrates on developments in America, Europe and Japan from the era of the classical gold standard, via the era of policy intervention and reduced faith in the market to the present "neo-liberal" regimes. It is argued that no school of macroeconomics is right for all time; different theoretical models may be appropriate.

This book argues that the work of the Austrian economists, including Carl Menger, Joseph Schumpeter, Ludwig von Mises and Friedrich Hayek, has been too narrowly interpreted. Through a study of Viennese politics and culture, it demonstrates that the project they were engaged in was much broader: the study and defense of a liberal civilization. Erwin Dekker shows the importance of the civilization in their work and how they conceptualized their own responsibilities toward that civilization, which was attacked left and right during the interwar period. Dekker argues that what differentiates their position is that they thought of themselves primarily as students of that civilization rather than as social scientists, or engineers. This unique focus and approach is related to the Viennese setting of the circles, which constitute the heart of Viennese intellectual life in the interwar period.

Since 1971, when the Bretton Woods gold exchange standard ended, the world has been on a fiat monetary regime, with various fiat currencies managed according to the discretion of the issuing country. Inherent in this regime is a basic problem--the ease with which the system lends itself to political manipulation. This study examines the emerging fiat regime in a world of nation states determined to preserve their sovereignty from erosion by the global economy and places this process in its economic, historical, and political perspective.

Understanding the American stock market boom and bust of the 1920s is vital for formulating policies to combat the potentially deleterious effects of busts on the economy. Using new data, Kabiri explains what led to the 1920s stock market boom and 1929 crash and looks at whether 1929 was a bubble or not and whether it could have been anticipated.

Consumer Credit and the American Economy examines the economics, behavioral science, sociology, history, institutions, law, and regulation of consumer credit in the United States.
After discussing the origins and various kinds of consumer credit available in today's marketplace, this book reviews at some length the long run growth of consumer credit to explore the widely held belief that somehow consumer credit has risen "too fast for too long." It then turns to demand and supply with chapters discussing neoclassical theories of demand, new behavioral economics, and evidence on production costs and why consumer credit might seem expensive compared to some other kinds of credit like government finance. This discussion includes review of the economics of risk management and funding sources, as well discussion of the economic theory of why some people might be limited in their credit search, the phenomenon of credit rationing. This examination includes review of issues of risk management through mathematical methods of borrower screening known as credit scoring and financial market sources of funding for offerings of consumer credit.
The book then discusses technological change in credit granting. It examines how modern automated information systems called credit reporting agencies, or more popularly "credit bureaus," reduce the costs of information acquisition and permit greater credit availability at less cost. This discussion is followed by examination of the logical offspring of technology, the ubiquitous credit card that permits consumers access to both payments and credit services worldwide virtually instantly.
After a chapter on institutions that have arisen to supply credit to individuals for whom mainstream credit is often unavailable, including "payday loans" and other small dollar sources of loans, discussion turns to legal structure and the regulation of consumer credit. There are separate chapters on the theories behind the two main thrusts of federal regulation to this point, fairness for all and financial disclosure. Following these chapters, there is another on state regulation that has long focused on marketplace access and pricing.
Before a final concluding chapter, another chapter focuses on two noncredit marketplace products that are closely related to credit. The first of them, debt protection including credit insurance and other forms of credit protection, is economically a complement. The second product, consumer leasing, is a substitute for credit use in many situations, especially involving acquisition of automobiles. This chapter is followed by a full review of consumer bankruptcy, what happens in the worst of cases when consumers find themselves unable to repay their loans.
Because of the importance of consumer credit in consumers' financial affairs, the intended audience includes anyone interested in these issues, not only specialists who spend much of their time focused on them. For this reason, the authors have carefully avoided academic jargon and the mathematics that is the modern language of economics. It also examines the psychological, sociological, historical, and especially legal traditions that go into fully understanding what has led to the demand for consumer credit and to what the markets and institutions that provide these products have become today.

This work is the second in a series examining the changing nature of one of the United States most important relationships, the ANZUS Alliance, linking the U.S., Australia, and New Zealand. The volume describes the evolution of the three countries respective domestic economic structures, international economic orientations, and relationships with each other in the period since World War II. The study concludes that the most significant common economic interest of the three is the preservation and strengthening of an open international economic order and trading system, an interest sorely tested in the present difficult economic times. Still, the experts here find that Australia, New Zealand, and the U.S. must match trends toward greater economic interdependence with workable mechanisms and concerted action to achieve their truly common interests in the international economic system.

This important work will be of interest to scholars in international relations, generally, and international economic systems, specifically.

The oil price collapse of 1985-6 had momentous global consequences: non-fossil energy sources quickly became uncompetitive, the previous talk of an OPEC 'imperium' was turned upside-down, the Soviet Union lost a large portion of its external revenues, and many Third World producers saw their foreign debts peak. Compared to the much-debated 1973 `oil shock', the `countershock' has not received the same degree of attention, even though its legacy has shaped the present-day energy scenario. This volume is the first to put the oil `counter-shock' of the mid-1980s into historical perspective. Featuring some of the most knowledgeable experts in the field, Counter-Shock offers a balanced approach between the global picture and local study cases. In particular, it highlights the crucial interaction between the oil counter-shock and the political `counterrevolution' against state intervention in economic management, put forward by Ronald Reagan and Margaret Thatcher in the same period.

This book offers a comprehensive study of the history of African business. By analyzing the specificities of African business culture, as well as the dynamically changing African policy context, the author sheds new light on the development of African enterprises, markets and institutions. The book covers a wide range of historical studies, starting with the earliest exchange networks, the new market opportunities resulting from European penetration, the dualism of state-owned companies and private enterprises during the twentieth century, the role of foreign direct investments and multinational companies during the 1990s, and the globalization of African business.

Every school and public library should update its resources on Spain with this lively and succinct narrative of Spain's long and rich historical experience. Emphasizing people rather than abstract developments, this narrative makes Spanish history readable and engaging. Based on the most recent scholarship, it examines the politics, society, economy, and culture of Spain chronologically, focusing on the last two centuries. Pierson, a noted authority on Spanish history, traces Spain's foundations in the Roman empire and Muslim conquest to its golden age in the late Middle Ages, its subsequent decline, and its struggle to build a democratic government and modern economy following the dictatorship of Francisco Franco. The work provides a timeline of events in Spanish history, brief biographies of key figures, and a bibliographic essay of interest to students and general readers.

An introductory chapter offers an overview of Spain today, its geography, government and politics, economy, religion, and culture. The next few chapters discuss its earliest cultures, its place in the Roman empire, its Christianization and years as a Germanic kingdom, and its incorporation in 711 C.E. by military conquest into the world of Islam. The energies developed in the Christian reconquest of Spain led to its embarkation on the conquest of an overseas empire in the Americas and the Philippines that lasted for more than 300 years and had a profound effect on global history. The interests of the Habsburg (1516-1700) and Bourbon (1700-1808, 1814-1868, and 1875-1931) dynasties on the Spanish throne made Spain a major player in European power politics into the years of the French Revolution and Napoleonic wars. By 1825, its resources drained, Spain painfully adjusted to straightened circumstances, endured civil wars and dictatorships, and struggled to build a democratic government and modern economy, which it has accomplished today.

The concept of 'performativity' has risen to prominence throughout the humanities. The rise of financial derivatives reflects the power of the performative sign in the economic sphere. As recent debates about gender identity show, the concept of performativity is also profoundly influential on people's personal lives. Although the autonomous power of representation has been studied in disciplines ranging from economics to poetics, however, it has not yet been evaluated in ethical terms. This book supplies that deficiency, providing an ethical critique of performative representation as it is manifested in semiotics, linguistics, philosophy, poetics, theology and economics. It constructs a moral criticism of the performative sign in two ways: first, by identifying its rise to power as a single phenomenon manifested in various different areas; and second, by locating efficacious representation in its historical context, thus connecting it to idolatry, magic, usury and similar performative signs. The book concludes by suggesting that earlier ethical critiques of efficacious representation might be revived in our own postmodern era.

The Geniza merchants of the eleventh-century Mediterranean - sometimes called the 'Maghribi traders' - are central to controversies about the origins of long-term economic growth and the institutional bases of trade. In this book, Jessica Goldberg reconstructs the business world of the Geniza merchants, maps the shifting geographic relationships of the medieval Islamic economy and sheds new light on debates about the institutional framework for later European dominance. Commercial letters, business accounts and courtroom testimony bring to life how these medieval traders used personal gossip and legal mechanisms to manage far-flung agents, switched business strategies to manage political risks and asserted different parts of their fluid identities to gain advantage in the multicultural medieval trading world. This book paints a vivid picture of the everyday life of Jewish merchants in Islamic societies and adds new depth to debates about medieval trading institutions with unique quantitative analyses and innovative approaches.

This book offers an original contribution to the empirical knowledge of the development of Fair Trade that goes beyond the anecdotal accounts to challenge and analyse the trading practices that shaped the Fair Trade model. Fair Trade represented a new approach to global trade, corporate social responsibility and consumer politics.

Hayek claimed that he always made it his rule 'not to be concerned with current politics, but to try to operate on public opinion.' However, evidence suggests that he was a party political operative with 'free' market scholarship being the vehicle through which he sought - and achieved - party political influence. The 'main purpose' of his Mont Pelerin Society had 'been wholly achieved'. Mises promoted 'Fascists' including Ludendorff and Hitler, and Hayekians promoted the Operation Condor military dictatorships and continue to maintain a 'united front' with 'neo-Nazis.' Hayek, who supported Pinochet's torture-based regime and played a promotional role in 'Dirty War' Argentina, is presented as a saintly figure. These chapters place 'free' market promotion in the context of the post-1965 neo-Fascist 'Strategy of Tension', and examine Hayek's role in the promotion of deflation that facilitated Hitler's rise to power; his proposal to relocate Gibraltarians across the frontier into 'Fascist' Spain; the Austrian revival of the 1970s; the role of (what was presented as) 'neutral academic data' on behalf of the 'International Right' and their efforts to promote Franz Josef Strauss and Ronald Reagan and defend apartheid and the Shah of Iran

From assembly line to call centre, this volume charts the immense transformation of work and pay across the 20th century and provides the first labour focused history of Britain. Written by leading British historians and economists, each chapter stands as a self-contained reading for those who need an overview of the topic, as well as an introduction to and analysis of the controversies among scholars for readers entering or refreshing deeper study.
The 20th century was a period of unrivalled change in the British labour market. Technology, social movements, and political action all contributed to an increased standard of living, while also revolutionizing what workers do and how they do it. Covering a range of topics from lifetime work patterns and education to unemployment and the welfare state, this book provides a practical introduction to the evolution of work and pay in 20th century Britain.