During 2013-14, the IEA ran a competition to find the best blueprint for Britain outside the EU, with the objective of securing a free and prosperous economy should it choose to leave. The IEA does not have a position on whether Britain should leave the EU. However, it is part of their educational mission to promote a wider understanding of the importance of a free economy and the institutions that are necessary for a free economy. They therefore regarded it as important to promote debate on the best way to achieve this in the event of the British people choosing to leave the EU: that was the main purpose of the competition. To provide a longer-lasting contribution to this debate, the IEA decided to publish this monograph examining the various options using, in the main, entries to the British Exit ('Brexit') competition. There was a wide range of possible approaches suggested by entrants to that competition.Some proposed that Britain should promote free trade and openness through the unilateral removal of trade and other barriers to economic activity; others proposed maintaining formal relationships with European countries through the European Free Trade Association and/or the European Economic Area; still other entrants took the view that Britain should seek to form economic and political alliances and partnerships with countries outside Europe - for example with the Commonwealth or the --Anglosphere - normally with a view to that being a gateway to free trade with as much of the world as would be willing. The winner was Foreign Office diplomat Iain Mansfield, who received most of the publicity at the end of the competition. However, in understanding how Britain can be free and prosperous in the event that it leaves the EU, it is worthwhile considering a range of other approaches to 'Brexit'. It is only through determining the best destiny for Britain outside the EU that the correct decision will be taken about whether to leave the EU and, if so, how. This book therefore brings together Iain Mansfield's submission with edited versions of two other entries.One of those, by Robert Oulds, proposes that the UK remains a member of the European Economic Area and rejoins the European Free Trade Association; another, by Ralph Buckle and Tim Hewish, proposes that Britain pursues free trade through the route of the Commonwealth and the Anglosphere. The final contribution, by John Hulsman, was not an entry to the competition but re-examines an approach to promoting free trade first proposed in his IEA monograph published in 2001, The World Turned Rightside Up. This involved the development of a global free-trade association. Overall, this book is an important contribution to the debate about how Britain should leave the EU, should it choose to do so. It distils clearly the different options and the advantages and disadvantages of alternative approaches with reference to the objective of promoting a free and prosperous economy. The authors have different views about how to achieve the same objective. It is hoped that, by presenting those different views in this volume, the debate will move beyond 'Britain - in or out?' to a debate about something just as important: 'If Britain should leave, how should it leave?'

In this discipline-defining volume, some of the leading international scholars in the history of economic thought re-examine the concepts of 'classical economics' and the 'canon', illuminating the roots and evolution of the contemporary discipline.

Political Economy and the New Capitalism examines the relevance of Sam Aaronovitch's pioneering empirical studies of British capitalism in the light of modern developments. A wide range of problems are reviewed from industrial concentration today to the co-ordination of economic policies in Europe. Aaronovitch's work on the role of finance in the British economy is the subject sustained reflection. Individual chapters examine orthodox and left-wing criticisms of finance, exchange rate instability, and employment, growth and regions in the context of European Union. This work concludes with a bibliography of the published writings of Sam Aaronovitch and collects the reflections of some of the most distinguished thinkers in economics today including: Meghnad Desai, G.C. Harcourt, Pat Devine, Egon Matzner, Malcolm Sawyer, Sir Alan Budd, Jan Toporowski, Philip Arestis, Eleni Paliginis, Victoria Chick and Ben Fine.

Representing an innovative approach to the analysis of the economic geography of capitalism, this stimulating book develops an analytical political economic framework. Part 1 provides an introductory overvi9ew fo some of the fundamental debates about price, profits and value in economics which underlie the analytical political economy approach. Part 2 analyzes the special role of space and transportation in commodity production and the spatial organization of the economy that this implies. Parts 3 and 4 examine the conflicting goals and actions of different social clases and individuals and how these are complicated by space, concluding with a detailed analysis of capitalists' strategiesas they cope with uncertainty and disequilibrium.

This book pursues a nonlinear approach in considering both chaotic dynamical models and agent-based simulation models of economics, as well as their dynamical behaviors. Three key concepts arising in this context are "nonlinearity," "bounded rationality" and "heterogeneity," which also make up the title of the book. Nonlinearity is the warp that runs throughout all models because systems that exhibit chaotic or other complex behavior in the absence of any exogenous disturbances are absolutely nonlinear. Bounded rationality constitutes the woof, because economic systems do not exhibit complex behavior if all agents are perfectly rational, as is usually assumed in neoclassical economics. Agents who are boundedly rational have to struggle to do their best with limited information and tend to adapt to their economic environment without knowing what is the best. Furthermore, the heterogeneity of firms or consumers dyes the fabric of complex dynamics woven from the warp and woof.

The discourse of Confucian Capitalism has been crucial in shaping our understanding of the brilliant economic successes of the Chinese diaspora all over the world. From this perspective, hard work, family values, and communal cohesion, as well as business practices based on sentiment, trust, and social networks, are the legendary means of explaining the wealth and commercial talent of these remarkable people. The book examines the subject of Chinese business' by exposing the enduring myth about the determining effects of these values and practices supposedly derived from Confucianism. Such myth relies on an ahistorical and essentialised notion of Chinese Culture', and brings into focus three sites of controversy: the economically driven Chinese subject, work-place relations characterised by consensus and cultural sharing, and an operating ethos of collectivist, pre-capitalist sociality. In its interrogation of the discourse of Confucian capitalism, it is the aim of this book to arrive at a critically informed and socially realistic understanding of Chinese business. The author combines abstract analysis with examples from anthropological fieldwork among Chinese traders in Sarawak, East Malaysia. By anchoring theoretical discussion to real case-studies, the multi-disciplinary approach of this book offers a useful insight into Chinese business activities, and contributes to current debates in cultural studies, economic anthropology, the economic performance of overseas Chinese, and neo-Confucian societies more generally.

Southeast Asia: A Region in Transition, first published in 1991, is a contemporary human geography of the 'market' economies of the region usually defined by membership of the Association of Southeast Asian Nations (ASEAN). Organized thematically, the chapters deal with the environment and development, plural societies, agrarian change and urbanization. This thematic approach provides a comprehensive picture of the ASEAN countries and gives a depth of coverage often lacking in other regional geographies. With a detailed introduction dealing with the physical environment and history of the region, this work will be of great value to students studying the human geography of Southeast Asia, as well as those with a more general interest in the issues and developments affecting the ASEAN region.

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.

Understanding today's rapidly changing global business environment can be challenging, particularly with conflicting news about how business actions in the European Union or emerging economies of Asia, or migrations from Mexico and Central America are impacting the U.S. and world economies. INTRODUCTION TO GLOBAL BUSINESS: UNDERSTANDING THE INTERNATIONAL ENVIRONMENT & GLOBAL BUSINESS, 3E provides a clear, comprehensive analysis of today's global business environment, supported by current examples and mini-cases. Written by authoritative professionals, this edition introduces globalization using unparalleled scholarship and the fundamentals of the global business environment -- culture, ethics, economics and information technology. You see how shifts in the global geopolitical balance of power and changing regional strategic alliances can impact job opportunities and future living standards, as the text flows from concept to application. MindTap digital resources help you apply principles to personal and professional situations.

Contents:
1. The Challenge of the Mixed Economy 2. The Meaning of Interventionism 3. The Use of Knowledge in Government and Catallaxy 4. Toward a Theory of Interventionism I: The Framework 5. Toward a Theory of Interventionism II: Roads to Collectivism 6. The Instability of the Minimal State 7. Implications and Pattern Predictions 8. Whither the Mixed Economy?

The volume analyzes the long-term trajectories of change in the capitalist models of the UK, Germany, Sweden, France, Italy, Hungary, Slovakia, and the United States. The case studies identify critical junctures and key periods of change in order to show how institutions are shaped by different sets of socio-political compromises and public policy. The case studies follow a common methodology, comparing change and linkages across six core institutional domains, thus facilitating a comparative understanding of the patterns and drivers of institutional change, as well as how liberalisation impacts countries in similar and dissimilar ways. The historical perspective of the cases highlights the transformative effects of relatively slow and incremental changes. These case studies also make an innovative contribution to examining the linkages between four levels of institutions that regulate the economy - the international, macro (national), meso, and micro. The volume reveals both a common trend toward more liberal forms of capitalism but also variations on this overarching trajectory. Markets themselves create their own dynamics, which have varied effects on firms and other economic actors in historically diverse institutional contexts. This book was originally published as a special issue of the Journal of European Public Policy.

This book explores the dynamic processes in economic systems, concentrating on the extraction and use of the natural resources required to meet economic needs. Sections cover methods for dynamic modeling in economics, microeconomic models of firms, modeling optimal use of both nonrenewable and renewable resources, and chaos in economic models. This book does not require a substantial background in mathematics or computer science.

This focused case study analyses the roots of super-diversity in a place where immigration is an emerging phenomenon, Northwestern Spain (Galicia). It is characterized by a mostly rural population, an aging demographic, and a historically depressed economy. Yet the region has recently experienced a significant increase in immigration - a reversal of the region's historically pronounced trend of emigration. To understand immigration in its early stages, this book takes a historical approach that focuses on diversities that go beyond nationality. It explores local yet international phenomena such as different patterns of return migration, transnational community and familial relationships, and niche labour markets. The book takes a broad interdisciplinary perspective, drawing on sociology, anthropology, history, sociolinguistics, literature, and education, to provide a detailed case study analysis. While the case is specific, many other geographic regions will share some of the factors the book explores. Understanding how these factors interact will provide a useful point of contrast for analysing them in a range of other international contexts.

The shock waves of conservative advances have reached into every corner of American and British politics. Parties of the right have prospered, while parties of the left have stumbled, retreated, and are now regrouping. The agenda for both right and left is set by the terms of the free-market doctrines that have displaced the post-war consensus politics of liberal capitalism. This volume describes and challenges the ideological basis of the free-market right. Though critiques of the policies of the Reagan and Thatcher governments are hardly in short supply, this major new study offers the most thorough and up-to-date analysis available. No other book considers in such depth conservative ideas and policies on both sides of the Atlantic. It provides the first clear account of the distinction between conservative and other forms of capitalism. It also examines the fault lines dividing opposing camps within conservative capitalism and their consequences for domestic policy in Britain and the US. Linking political theory and public policy, it is one of the few critical appraisals of the New Right based on a clear understanding of what the arguments for the free market really are. Finally, the authors demonstrate what the left needs to learn from its failures, how to remould its understanding of the relationship between politics and the market, and how to recapture the lost initiative.

Actor-systems dynamics is an innovative, multidisciplinary methodology for investigating and analyzing social struggles over economic resources and the related interplay between economic and socio-political institutions and processes. The authors, sociologists and economists, offer a systemic perspective on contemporary socio-economic issues such as economic crisis, unemployment, inflation, economic democracy and development; in their analyses, they identify several of the key factors that drive people to interact, to initiate change and transformation as well as to resist such change. Major underlying themes in the book are: Conflict over the distribution of economic resources and economic policies and institutions; the structural bases of economic inequality and conflict; the shaping and reshaping of socio-economic institutions, and the contradictions, conflicts and instabilities evoked by such developments; the failure of orthodox economic theories, including Keynesianism, in the face of recurrent economic crises and instabilities; the development and application of an open, dynamic actor-oriented systems theory - grounded in the social sciences - addressing complex socio-economic phenomena in ways diverging substantially from conventional economics. All in all, the papers collected here deal, on the one hand, with social power, conflict, and struggle concerning economic resources and institutions and, on the other hand, the structural and other factors which drive powering initiatives, conflict, and social innovation and transformation. The book is addressed to a broad spectrum of social and managerial scientists concerned with socio-economic issues, institutions, and development.

This book intends to be a contribution to the "varieties of capitalism" paradigm. The theoretical background is Weber 's theory of legitimacy. Was communism ever "legitimate"? What kind of legitimacy claims were made in the transition from communism to capitalism? Central Europe was closer to the Western "liberal" model. Russia built capitalism in a patrimonial way. China followed its own unique way; some called it "socialism with Chinese characteristics". Putin experiments with an innovation for post-communist capitalism. He confronts the "oligarchs" and reallocates property from those who challenge his political authority to old and new loyal ones. This book asks to what extent such forms can serve as generic models for post-communist capitalism?

This book is open access under a CC BY-NC-ND license. This volume analyzes the economic, social, and political challenges that emerging states confront today. Notwithstanding the growing importance of the 'emerging states' in global affairs and governance, many problems requiring immediate solutions have emerged at home largely as a consequence of the rapid economic development and associated sociopolitical changes. The middle-income trap is a major economic challenge faced by emerging states. This volume regards interest coordination for technological upgrading as crucial to avoid the trap and examines how various emerging states are grappling with this challenge by fostering public-private cooperation, voluntary associations of market players, and/or social networks. Social disparity is another serious problem. It is deeply rooted in history in the emerging states such as South Africa and many Latin American countries. However, income distribution is recently deteriorating even in East Asia that was once praised for its high economic growth with equity. Increasing pressure for political opening is another challenge for emerging states. This volume argues that the economic, social, and political problems are interwoven in the sense that the emerging states need to build political consensus in order to tackle the economic and social difficulties. Democratic institutions have not always been successful in this respect.

The adjustment problems of public finance in East-Central European countries are often misunderstood and misinterpreted by western scholars. This book contributes to the bridging of the gap between what is being thought by external observers and what the actual public finance reality is, as described by competent local scholars. Popular political economy research has remained biased towards advanced countries and has neglected developing and/or transition economies. Although there have been publications on CEE countries' public finances, these seem to be reluctant to apply the conceptual and analytical framework of standard political economy to CEE countries because of the assumption that CEE economies are different from their Western peers. But is this really the case? Are CEE economies so much different that none of the well-known "Western" political economy concepts/models could be applied to the analysis of fiscal performance in the region? The major hypothesis of the present book is that this is not the case. It demonstrates that models and concepts developed in "Western" academic circles can be safely applied in the context of CEE economies as well; that is, there is no need to develop a separate or unique theory designed for the study and understanding of (one-time) transition economies.

This edited volume analyses the channels through which EU membership contributed to the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe. These channels include trade, investment, finance, labour, and laws and institutions. Global integration has certainly played an important role. A large part of FDI flows and financial integration in the world have been persistent features of globalization. Have these countries experienced more intensive integration through these channels because of EU membership, with its much tighter institutional and political anchorage, than their fundamentals and global trends would suggest? Contributions by lead researchers of the area address different aspects of this question. .

Is Capitalism Working? is a highly relevant question today - not least to a generation coming of age in a world still experiencing aftershocks from the near-meltdown of the world economy in 2008. Economic theory can be complex, but Jacob Field's wellstructured and thought-provoking text lays out the debate in a clear, accessible and engaging manner. Infographics and timelines ensure that readers grasp the basic tenets, history and context of capitalism, without distracting from the compelling arguments. Jacob Field presents a measured conclusion that reviews the evidence on each side, allowing room for the reader to draw his or her own conclusions.

This book provides a historical economic analysis of two key issues relating to township and village enterprise (TVE) development in China. Firstly, the nature of the evolving relationship between TVEs and local government; in particular how TVE entrepreneurs have used institutionalized power to secure the political influence needed to defend their financial independence. Secondly, the relationship between TVEs and state-owned enterprises (SOEs), and the role of SOEs in China's economic transition. This study highlights the importance of the role of SOEs in the "dual-track pricing system" and its impact on other parts of the economy. Township and village enterprises were key to China's success in the late twentieth century, but have more or less disappeared as an entity over the past decade or so. By measuring the structural difference of the SOE sector before and after 1998-2003 SOE reform, Jin explains their fast catch-up in productivity since the mid-1990s, as well as the relative decline of TVE productivity.

This book examines the patterns, characteristics, causes and coping mechanisms of the poor in Afghanistan applying econometric and statistical techniques. The authors address and identify the extent of poverty in Afghanistan over the years, the spatial patterns and regional imbalances of poverty in Afghanistan, the distinguishing characteristics of the poor in Afghanistan, and explore shocks faced by the poor in Afghanistan as well as subsequent coping strategies. Based on household level data collected under the 'National Risk Vulnerability Assessment' (NRVA) survey of 2003, 2005, 2007/08 and 2011/12 of Afghanistan, the authors identify options that may enable policy makers and other stakeholders to further enable the inclusion of the poor in development processes and to successfully cope with poverty and its adverse outcomes. This short book will be of interest to students, researchers, academicians, policymakers, international agencies and NGOs at international and national levels.

One of New York Magazine's best books on Silicon Valley! The true, behind-the-scenes history of the people who built Silicon Valley and shaped Big Tech in America Long before Margaret O'Mara became one of our most consequential historians of the American-led digital revolution, she worked in the White House of Bill Clinton and Al Gore in the earliest days of the commercial Internet. There she saw firsthand how deeply intertwined Silicon Valley was with the federal government--and always had been--and how shallow the common understanding of the secrets of the Valley's success actually was. Now, after almost five years of pioneering research, O'Mara has produced the definitive history of Silicon Valley for our time, the story of mavericks and visionaries, but also of powerful institutions creating the framework for innovation, from the Pentagon to Stanford University. It is also a story of a community that started off remarkably homogeneous and tight-knit and stayed that way, and whose belief in its own mythology has deepened into a collective hubris that has led to astonishing triumphs as well as devastating second-order effects. Deploying a wonderfully rich and diverse cast of protagonists, from the justly famous to the unjustly obscure, across four generations of explosive growth in the Valley, from the forties to the present, O'Mara has wrestled one of the most fateful developments in modern American history into magnificent narrative form. She is on the ground with all of the key tech companies, chronicling the evolution in their offerings through each successive era, and she has a profound fingertip feel for the politics of the sector and its relation to the larger cultural narrative about tech as it has evolved over the years. Perhaps most impressive, O'Mara has penetrated the inner kingdom of tech venture capital firms, the insular and still remarkably old-boy world that became the cockpit of American capitalism and the crucible for bringing technological innovation to market, or not. The transformation of big tech into the engine room of the American economy and the nexus of so many of our hopes and dreams--and, increasingly, our nightmares--can be understood, in Margaret O'Mara's masterful hands, as the story of one California valley. As her majestic history makes clear, its fate is the fate of us all.