Founded in the forested mountains of ChinaOs remote Jiangxi Province in 1958, the Communist Labor University, along with some 100 branch campuses, introduced uneducated farmers and peasants to basic agricultural science and farming techniques through an innovative work-study program until 1980. Drawing on a wealth of archival materials, John Cleverley here explores the inner workings of this unique Chinese institution and the direct personal involvement in its affairs by the nationOs key communist leaders, including Mao Zedong, Zhou Enlai, Zhu De, and Deng Xiaoping. The community would survive the dictates of political agriculture, famine and pestilence, and the Cultural Revolution, thus mirroring higher education's own cycle of expansion, contraction, and division. Yet the university could not avoid the bitter factional politics and deadly power plays of the 1970s. Open to the charge that it was a utopian experiment, another of Mao's great follies, its undoing was part of the larger canvas of ChinaOs shift from a Maoist vision to DengOs philosophy of pragmatic socialism. This fascinating story illuminates the internal and external politics of an innovative educational enterprise from both an institutional and personal perspective. In the process, the book underscores the larger issues of educational reform and political and social change in China.

The global capitalism perspective is a unique research program focused on understanding relatively recent developments in worldwide social, economic, and political practices related to globalization. At its core, it seeks to contextualize the rearticulation of nation-states and broad geographic regions into highly interdependent networks of production and distribution, and in so doing explain consequent changes in social relations within and between countries in the contemporary era. The present volume contributes to this effort by focusing on social class formation across borders via the processes and actors that make globalized capitalism possible. The essays presented here offer a wide range of emphases in terms of the particular lenses and evidence they use. They cover such topics as the emergence of a transnational capitalist class-based fascist regime responding to the structural crises of global capitalism as well as the links between global class formation and the US racial project as it relates to electoral politics and demographic changes in the US South. This book was published as a special issue of Globalizations.

This book examines the challenges that ASEAN (Association of Southeast Asian Nations) members need to overcome in order to sustain and intensify economic growth. The ASEAN market is widely regarded as a new hub of growth, not least in light of increasing protectionism and declining economic growth of the three largest countries in Northeast Asia (China, Japan, and South Korea). Contributors address a range of issues with a concentrated focus on evidence from Indonesia, including globalisation, increasing populism, trade, FDI, the benefits of the production network, and related issues such as spill-over, crises, innovation and technology, and selected sectoral commodity and policy analysis of Indonesia. This book analyses and explains the relationship between trade and foreign direct investment, and technical changes, with regard to improving 'productivity' in the supply-side economic growth model using, in particular, Indonesia as the de facto leader of ASEAN. This book will be of interest to academics and students specialising in international economics and international development.

The fall of the Berlin Wall launched the transformation of government, economy and society across half of Europe and the former Soviet Union. This text deals with the process of change in former Communist bloc countries, ten of which have become new European Union (EU) democracies while Russia and her neighbours remain burdened by their Soviet legacy.

Drawing on more than a hundred public opinion surveys from the New Europe Barometer, the text compares how ordinary people have coped with the stresses and opportunities of transforming Communist societies into post-Communist societies and the resulting differences between peoples in the new EU member states and Russia.

Subjects covered by Understanding Post-Communist Transformation include:

• Stresses and opportunities of economic transformation
• Social capital and the development of civil society
• Elections and the complexities of party politics
• The challenges for the EU of raising standards of democratic governance
• Differences between Russia s and the West s interpretation of political life

Written by one of the world's most renowned authorities on this subject, this text is ideal for courses on transition, post-communism, democratization and Russian and Eastern European history and politics.

The fall of the Berlin Wall launched the transformation of government, economy and society across half of Europe and the former Soviet Union. This text deals with the process of change in former Communist bloc countries, ten of which have become new European Union (EU) democracies while Russia and her neighbours remain burdened by their Soviet legacy.

Drawing on more than a hundred public opinion surveys from the New Europe Barometer, the text compares how ordinary people have coped with the stresses and opportunities of transforming Communist societies into post-Communist societies and the resulting differences between peoples in the new EU member states and Russia.

Subjects covered by Understanding Post-Communist Transformation include:

• Stresses and opportunities of economic transformation
• Social capital and the development of civil society
• Elections and the complexities of party politics
• The challenges for the EU of raising standards of democratic governance
• Differences between Russia s and the West s interpretation of political life

Written by one of the world's most renowned authorities on this subject, this text is ideal for courses on transition, post-communism, democratization and Russian and Eastern European history and politics.

Model-free Hedging: A Martingale Optimal Transport Viewpoint focuses on the computation of model-independent bounds for exotic options consistent with market prices of liquid instruments such as Vanilla options. The author gives an overview of Martingale Optimal Transport, highlighting the differences between the optimal transport and its martingale counterpart. This topic is then discussed in the context of mathematical finance.

Devine begins with an analysis of the theory and practice of capitalist planning, central planning and 'market socialism'. He argues that, while market socialism is currently favoured by many economists who reject both capitalism and the command planning of the Soviet model, it cannot fulfil the promises held out for it. In the remainder of the b

Has Japan developed its own unique economic model? For years, Americans concerned about the Japanese economic challenge have heatedly debated this question. Now, a senior Japanese government official weighs in with a resounding 'Yes.' In this work, Eisuke Sakakibara of the powerful Japanese Finance Ministry describes the fundamental, structural differences between the American and Japanese economies, defends the Japanese approach, and warns that U.S. policies seeking to Americanize our strongest competitor are doomed to fail. This ground-breaking study is vital reading for anyone concerned about the world's two economic superpowers and the global economy being shaped by their rivalry. Co-published with the Economic Strategy Institute.

The search for the key to economic growth has proved elusive and contentious. This book uses new empirical evidence to propose an integrated approach for achieving strong industrial and technological capabilities to form the basis for regional and national economic development.The authors use the experiences of countries in Europe and Latin America to show that socio-technical constituencies play a fundamental role in innovation based economic development at both a regional and national level. By blending insights from the industrial cluster and national innovation system approaches with the socio-technical constituencies approach, the authors successfully integrate long standing debates such as agency structure and micro-meso-macro analysis. The work is based both on a theoretical effort to build a new framework for economic growth, and on a number of concrete experiences from a number of countries in Europe and Latin America. Knowledge Flows in National Systems of Innovation will prove essential reading for scholars of innovation, technology and economic development.

'Dr Donghyun Park is a prominent and rare economist in Asia who can combine frontline economic theories, lively data, and real-time policy analyses. Capitalism in the 21st Century is a masterful book by Dr Park, providing a comprehensive understanding of heterogenous trajectories of economies around the globe and more fundamental mechanisms of the modern capitalistic system. This is a 'must-read' for those who are interested in comparative economic systems, global economy, and international development.'Yasuyuki SawadaChief Economist, Asian Development BankProfessor of Economics, University of Tokyo'Donghyun Park makes clear that capitalism gets a bad rap, in large part because of too much emphasis on capital as in financial engineering, and too much emphasis on capitals as in government protectionism. Park argues a compelling case that genuine capitalism, which is about entrepreneurship, is necessary to solve the big problems most people face around the globe.'Adam S PosenPresident, Peterson Institute of International EconomicsGlobal capitalism is currently suffering from an unmistakable malaise, epitomized by wide and growing inequality that is eroding popular support for capitalism. Such anti-capitalist sentiment, coupled with a growing anti-globalization mood, delivered Brexit in a UK referendum and swept Donald Trump to the US presidency. In Capitalism in the 21st Century, internationally well-regarded economist Dr Donghyun Park articulately explains why more capitalism is needed to tackle global problems such as climate change and inhumane poverty. While defending capitalism against its unfair demonization, the author makes a positive case for entrepreneurial capitalism, which creates wealth and jobs as well as drives human progress. According to the author, reforming the financial industry, which has become a self-serving leviathan, and more fundamentally, tweaking the economic role of the government, which stifles growth-promoting entrepreneurship, are critical to restoring the vitality of capitalism. The book is explicitly written in such a way that the general reader without any background in economics or finance can easily understand it.Related Link(s)

More than thirty years after the collapse of the USSR, the critique of state socialism is still used to deny alternatives to capitalism, irrespective of global capitalist ecological and social devastation. There is seemingly nothing worthwhile salvaging from decades of state socialist experiences. As the climate crisis deepens, Engel-Di Mauro argues that we need to re-evaluate the environmental practices and policies of state socialism, especially as they had more environmentally beneficial than destructive effects. Rather than dismissing state socialism's heritage out of hand, we should reclaim it for contemporary eco-socialist ends. By means of a comparative and multiple-scaled approach, Engel-Di Mauro points to highly diverse and environmentally constructive state socialist experiences. Taking the reader from the USSR to China and Cuba, this is a fiery and contentious look at what worked, what didn't, and how we can move towards an eco-socialist future.

This book explores economic developments across Europe in relation to its apparent segmentation, as disparities widen between core and periphery countries. In contrast to previous literature, the scope of analysis is extended to Europe as a continent rather than confining it solely to the European Union, thereby providing the reader with greater insight into the core/periphery nexus. The authors commence with a critical appraisal of economic thinking in relation to regional trade agreements and monetary integration. In relation to a number of EU economies, the book addresses issues of a liquidity trap, deflation, and twin deficits, together with the interconnection between exchange rates and current account balances. Importantly, they extend the discussion of segmentation through a series of focused case studies on Russia, Brexit and emergence of the mega-regionals.

Contemporary capitalistic systems have been undergoing profound transformations determined by the transition towards the so-called knowledge based economy, i.e. a competitive system based on the capabilities firms have to create, use and circulate knowledge. These transformations concern both the characteristics of productive and innovative processes, and the resources used in these activities. This book captures these changes, where traditional R&D investments undertaken internally by firms are increasingly and strategically complemented by external sources of innovation and new knowledge. Collaborations between firms, and between firms and other organizations, as well as the mobility of human capital, are strategic processes in order to share and circulate knowledge and competencies. They are also key determinants in the creation of new knowledge and innovation, and ultimately in growth dynamics. The circulation and distribution of knowledge is now a key input in the production of knowledge. Knowledge and innovation are understood as the result of collective and interactive processes at the system level, and less at the micro level. In other words, new knowledge production is less and less the result of individualistic behaviours of the firms and much more the effect of explicit and pro-active interactions and transactions put in place by local networks of innovators. In this perspective, economic space is much more defined by the quality of the interactions among actors rather than by their mere technological, sectoral or geographical proximity. This book brings together new conceptual and empirical contributions and blends the analysis of the technological and geographical spaces in which innovation and knowledge are produced.

Much-needed in the face of present political upheavals, including the rise of populism and re-emergence of nationalism and authoritarian regimes, this book is radical in both its critique and proposals for a new economics. Taking an interdisciplinary approach, Bart Nooteboom offers insights from economics, sociology, cognitive science, social psychology and philosophy. Exploring ways in which economics is developing, the book investigates how new economics has moved away from considering individuals as autonomous and instead studies their involvement and interactions with each other. The book discusses a new relational economics: less contractual, hierarchical and controlled, and more based on trust and mutual adjustment. Nooteboom proposes a shift from utility ethics to the virtue ethics of prudence, courage, moderation and justice. A provocative read for economics students, this work is especially pertinent to those interested in rethinking the subject and expanding upon heterodox theories. It will also prove a useful read to critical economists and sociologists looking to better understand a way forward in our current economic climate.

The collapse of centrally administered socialism in Russia and Eastern Europe resulted in what is commonly referred to as the transition problem: the transformation from a centrally administered socialist economic system to one that is market-based. Economic science has been faced with the challenge of developing an appropriate body of analysis, advice, and direction to help other nations that may be undergoing this process. In this volume, John Marangos adopts a political economy approach that yields alternative models of transition.

The volume develops transition models from what Marangos defines as the primary elements of six variables: (1) economic analysis; (2) definitions of the Good Society; (3) speed of transition; (4) political structure; (5) ideological structure; and (6) initial conditions. The models developed include: the shock therapy model, the neoclassical gradualist model of transition, the post Keynesian model, the pluralistic market, the socialist model, and the non-pluralistic market socialist model. After identifying the primary elements of each transition model, Marangos considers the elements of each model with respect to the desirable reforms.

An essential element of the transition process is not only to identify the necessary reforms but also a sequence in which the reforms should be introduced. For each transition model developed in this book, a set of primary and secondary elements were provided in conjunction with a sequence of reforms. Analyzing the transition problem from a political economy perspective, Marangos shows that it is possible to have inconsistencies within each transition model and between transition models yet be able to identify the potential for implementation and maintenance of necessary reforms each model recommends. This volume contributes to the understanding of the process of transition, with the objective of identifying an optimal model of transition.

Today there is widespread recognition that capitalism is the socioeconomic system of choice. This volume, perhaps the best single-volume assessment of this economic model and how it emerged, contributes to the understanding of the historic role of capitalism. After reviewing the gestation of the system, it explains the emergence of full-blown capitalism in the eighteenth century, taking it into the nineteenth and its link to the industrial revolution. The primary focus, however, is on the twentieth century, in which capitalism faced and met challenges due to world wars and depression with the aid of interventionist policies, notably Keynesian economics and the welfare state. But the failure of the postwar policy consensus to cope with the twin problems of inflation and slow economic growth led to a resurgence of greater reliance on unalloyed capitalism.

Capitalist values so permeate modern culture in America that to question them seems like heresy. In 1989, the economist Robert L. Heilbroner, who had been a perceptive student of capitalism and socialism for decades, proclaimed "The Triumph of Capitalism," arguing that the contest of economic systems was over and the victory of capitalism was unambiguous. Fifteen years later, C. Fred Bergsten, Director of the Institute for International Economics, reinforced this view: "The U.S. model of capitalism and globalization dominates thinking around the world." Writer Russell Baker, dismayed by perceived degrading effects of market-obsessed management on journalism, observed that "belief in the virtue of maximized profits has acquired something like sanctity in American life."

An appreciation of economic and social history, and the accompanying clash of ideas, is helpful in providing a context in which ongoing challenges may be evaluated. It is important to know that what is understood to be capitalism has changed significantly over time. The purpose of this book is to provide such context. Written by an economist, but accessible to a general public, this book is a wide-ranging assessment of today's dominant economic system and its historical development.

This book concerns EU Cohesion Policy and the economic convergence of underdeveloped regions in Italy and Spain from the first programming period to the present: it investigates the political and institutional factors that determine the success or failure of implementing EU Cohesion Policy at national and sub-national level, as well as their impact on economic growth. On the wave of the American tradition of development studies, this book suggests that public policy analysis can be fruitful for understanding economic growth and cohesion, if it were to reconstruct domestic public interventions for development and the institutional characteristics of the subjects responsible for pursuing development goals. To do so, this book derives its theoretical foundations from the traditional debate on the role of state actors in promoting economic development and on the institutional characteristics that the public authorities involved in the process of economic development should display. More precisely, by adopting an Hirschmanian approach to development, it elaborates an original framework to compare different Cohesion Policy implementations and to understand its economic results in different countries, using Italy and Spain as pilot studies.

Neoliberalism has been the reigning ideology of our era. For the past four decades, almost every real-world event of any consequence has been traced to the supposedly omnipresent influence of neoliberalism. Instead, this book argues that states across the world have actually grown in scope and reach. The authors in this volume contest the view that the past three decades have been marked by the diminution of the state in the face of neoliberalism. They argue instead that we are witnessing a new phase of state formation, which revolves around hybrid rule-that is, a more expansive form of state formation that works through privatization and seeks pacification and depoliticization as instrumental to enhancing state power. Contributors argue that that the process of hybridization, and hybrid rule point towards a convergence on a more authoritarian capitalist regime type, possibly, but not necessarily, more closely aligned with the Beijing model-one toward which even the United States, with its penchant for surveillance and discipline, appears to be moving. This volume will shed new light on evolving public-private relations, and the changing nature of power and political authority in the 21st century and will be of interest to students and scholars of IPE, international relations and political theory.

J. E. Meade is among the most distinguished of contemporary economists, noted for his contributions to economic theory and policy. This volume presents a series of models of economic systems, each built on greatly simplified assumptions about human motives, technology, and social institutions, and undertakes in each case a series of exercises to examine the links of causal relationship in each case.

This systematic treatment of the whole field of economic analysis on these lines is a rigorous and elegant non-mathematical statement of the basic principles and problems of contemporary economic theory. The volume is based on models of systems in which there are no capital goods, and in which consumer's tastes, technical knowledge, and the size and composition of the population are static.

This sophisticated restatement of the fundamentals of economic theory also deals with the basic methodological problems of economic analysis. Given the complexity of variables inherent in all economic systems, how is the economist to proceed in dealing with a particular set of interrelated problems? And further, how can the economist be confident that the verdict is more likely to be right than wrong? Meade considers these and other questions in a book important not only to professional economists and their students, but also to those more generally interested in economic policy.

As inequalities widen and the effects of austerity deepen, in many countries the wealth of the rich has soared. Why we can't afford the rich exposes the unjust and dysfunctional mechanisms that allow the top 1% to siphon off wealth produced by others, through the control of property and money. Leading social scientist Andrew Sayer shows how the rich worldwide have increased their ability to create indebtedness and expand their political influence. Winner of the 2015 British Academy Peter Townsend Prize, this important book bursts the myth of the rich as specially talented wealth creators. It shows how the rich are threatening the planet by banking on unsustainable growth. The paperback includes a new Afterword updating developments in the last year and forcefully argues that the crises of economy and climate can only be resolved by radical change to make economies sustainable, fair and conducive to well-being for all.

The Free and Open Source Software (FOSS) movement demonstrates how labour can self-organise production, and, as is shown by the free operating system GNU/Linux, even compete with some of the worlds largest firms. The book examines the hopes of such thinkers as Friedrich Schiller, Karl Marx, Herbert Marcuse and Antonio Negri, in the light of the recent achievements of the hacker movement. This book is the first to examine a different kind of political activism that consists in the development of technology from below.

This edited volume proposes an innovative approach to European Integration by combining economics and political theory in its study of public goods. The contributors review such elements as a neo-medieval governance, the merits of a new European Republic, and, alongside Europe, include South East Asia in its discussions. By addressing different issues within the overarching approach of public goods and the republican paradigm of governance, Collignon introduces an important new perspective.

This original, quantitatively oriented analysis applies the theory of the core to define competition in order to describe and deduce the consequences of competitive and non-competitive behavior. Written by one of the world's leading mathematical economists, the book is mathematically rigorous. No other book is currently available giving a game theoretic analysis of competition with basic mathematical tools.

Economic theorists have been working on a new and fundamental approach to the theory of competition and market structure, an approach inspired by appreciation of the earlier work of Edgeworth and Bohm-Bawerk and making use of the new tools of the theory of games as developed by von Neumann and Morgenstern. This new approach bases itself on the analysis of competitive behavior and its implications for the characteristics of market equilibrium rather than on assumptions about the characteristics of competitive and monopolistic markets. Its central concept is "the theory of the core of the market," and it is concerned, with the conditions under which markets will or will not achieve the characteristics of uniform prices and welfare optimality.

Telser provides a number of insights into the symptoms of competition, when and how competition is bought into play, the mechanisms of competition and collusion, the results of competition and collusion, and the results of competition and collusion for the economy and for the general public. Many misconceptions about the nature of a competitive equilibrium are dispelled. The book is not only a mathematical analysis of core price theory but also contains extensive empirical research in private industry. These empirical findings, from research pursued over several years, enhance understanding of how competition works and of the determinants of the returns to manufacturing industries.

"Lester G. Telser" is professor emeritus of economics at the University of Chicago. He is one of the world's leading mathematical economists; he has been a Visiting Research Fellow, Cowles Foundation for Research in Economics, Yale University; Ford Foundation Faculty Research Fellow; and assistant professor of economics, Iowa State University. In 2005 he received the St. Clair Drake award from Roosevelt University.

Has Japan developed its own unique economic model? For years, Americans concerned about the Japanese economic challenge have heatedly debated this question. Now, a senior Japanese government official weighs in with a resounding 'Yes.' In this work, Eisuke Sakakibara of the powerful Japanese Finance Ministry describes the fundamental, structural differences between the American and Japanese economies, defends the Japanese approach, and warns that U.S. policies seeking to Americanize our strongest competitor are doomed to fail. This ground-breaking study is vital reading for anyone concerned about the world's two economic superpowers and the global economy being shaped by their rivalry. Co-published with the Economic Strategy Institute.