This incisive book integrates the academic fields of sustainable production and consumption (SCP) and sustainable supply chain management (SSCM) as a framework for challenging the current economic paradigm and addressing the significant ecological and environmental problems faced by the contemporary business world. Outlining the growth and progress of consumption in the developed world, initial chapters explore the numerous problems that have emerged from the current mode of consuming resources, and how we might engage in more sustainable consumption practices. The book goes on to address the historical development of mass production and the ecological damage caused by an unsustainable linkage between mass consumption and mass production. Considering the future of the supply web, it illustrates how SSCM can play a leading role in the transition towards a more sustainable economic system if it is able to address contemporary ecological concerns more effectively. This insightful and optimistic platform for ecological supply chain management is a rousing call to arms for business and management scholars hoping to propose innovative methods of improving the sustainability of consumption, production and supply webs. It will also benefit the work of business practitioners and entrepreneurs looking to engage in more sustainable business operations.

This Modern Guide explores central ideas, concepts, and themes in the Austrian school of economics, with a focus on how both the school and the overall theory have evolved over recent decades. Leading scholars offer their insights into potential directions of future research in the field, pointing towards contemporary debates and their potential conclusions, underdeveloped aspects and extensions of theory, and current applications of interest. Spanning theories of entrepreneurship to the theory of the business cycle, from methodology to sociology, and from cryptocurrencies to culture, this clear and concise Modern Guide provides an expert curation of the topic. Chapters offer an overview of the present state of scholarship in the field, including discussions on praxeology, the function of entrepreneurship in the market process, spontaneous orders, the Austrian theory of money, and banking. Written in an accessible style, this will be an invigorating read for economics scholars looking for an alternative to mainstream approaches. It will also be useful for scholars and practitioners seeking an introduction to Austrian economics.

This timely Research Agenda examines the ways in which public-private partnerships (PPPs) in infrastructure continue to excite policy makers, governments, research scholars and critics around the world. It analyzes the PPP research journey to date and articulates the lessons learned as a result of the increasing interest in improving infrastructure governance. Expert international contributors explore how PPP ideas have spread, transferred and transformed, causing supporting markets to develop and mature. Providing a multidisciplinary perspective on the topic, this thought-provoking Research Agenda proposes a range of future research directions, pointing towards the potential of fresh research approaches to PPP, the adoption of new theories and intellectual lenses, better balancing of public-private interests, and stronger public governance across what has now become a global phenomenon. It lights the way to diverse research frontiers ranging from financialization to psychology and behavioural science, as well as the continuing prominence of public administration, politics, economics, planning and law. A Research Agenda for Public-Private Partnerships and the Governance of Infrastructure will be an enticing read for students and scholars of regulation and governance, public management and administration, politics and economics as well as industry professionals across the domains of public policy, infrastructure and city planning.

COVID-19 and other recent crises have proved the need to review the state-of-play and implement robust institutional frameworks in the complex, heterogenous and decentralised European supervisory architecture. This insightful book outlines what can be done to innovate the current set-up in the face of pressing issues such as climate change, BigTech and crypto assets. Revisiting the debate on financial sector oversight in Europe, a range of highly acclaimed international academics and influential policymakers discuss the scope of institutional arrangements. Chapters examine how the architecture of European financial supervision currently works, analysing the trends in banking supervision design and the influence that recent financial and economic crises have exerted. Providing a rare insight into the role that central banks play in the supervisory set-up, their accountability and democratic legitimacy, the book also considers the ways that macro- and micro-prudential and monetary policies interact. Gleaning lessons from the FinTech revolution and the COVID-19 crisis, the book ultimately concludes by seeking a path for optimal architecture for European financial supervision. With invaluable industry insights, this cutting-edge book will prove vital to academics in the field of financial economics and financial regulation, alongside policymakers looking to transform their current supervisory architecture.

Large infrastructure projects often face significant cost overruns and stakeholder fragmentation. Public-Private Partnerships (PPPs) allow governments to procure long-term infrastructure services from private providers, rather than developing, financing and managing infrastructure assets themselves. Aligning public and private interests and institutional logics to create robust, decades-long service contracts subject to shifting economic and political contexts is a significant cross-sectoral governance challenge. This work summarizes over a decade of research conducted by scholars at Stanford s Global Projects Center and multiple US and International collaborators to enhance the governance of both infrastructure projects and institutional investors, whose long term, cash flow obligations align especially well with the kinds of long term inflation-adjusted returns that PPP infrastructure projects can generate. In these pages, multiple theoretical perspectives are integrated and combined with empirical evidence to examine how experiences from more mature PPP jurisdictions can help improve PPP governance approaches worldwide. The information contained here will appeal to engineering, economics, political science, public policy and finance scholars interested in the delivery of high-quality, sustainable infrastructure services to the citizens in countries with established and emerging market economies. Officials in national, state/provincial and local government agencies seeking alternative financing and service provision strategies for their civil and social infrastructure, and legislators and their staff members interested in promoting PPP legislation will find this book invaluable. It will also be of high interest to long-term investment professionals from pension funds, sovereign funds, family offices and university endowments seeking to deploy money into the infrastructure asset class, and practitioners seeking insights into methods for enhancing stakeholder incentive alignment, reducing transaction costs and improving project outcomes in PPPs. Contributors: B.G. Cameron, G. Carollo, C.B. Casady, E.F. Crawley, K. Eriksson, W. Feng, M.J. Garvin, K.E. Gasparro, R.R. Geddes, W.J. Henisz, D.R. Lessard, R.E. Levitt, T. Liu, A.H.B. Monk, D.A. Nguyen, C. Nowacki, W.R. Scott, R. Sharma, A.J. South

For most economists, 'Austrian economics' refers to a distinct school of thought, originating with Mises and Hayek and characterised by a strong commitment to free-market liberalism. This innovative book explores an alternative Austrian tradition in economics. Socialist in spirit but too diffuse to be described as a single school of thought, it shares a common conviction that the market, while possibly a good servant, is a very poor master. Demonstrating how the debate on the economics of socialism began in Austria long before the 1930s, this unique book analyses the work and impact of many leading Austrian economists. Beginning with the Austro-Marxist theorists Otto Bauer and Rudolf Hilferding and moving through to the new generation of social democratic economists, most prominently Kurt Rothschild and Josef Steindl, The Alternative Austrian Economics provides insight into the history and evolution of socialist economics in Austria. Offering a previously underrepresented discussion of a century of Austrian socialist economics, this engaging book will prove to be of great value to Marxian and heterodox economists, historians of economic thought and political scientists interested in political economy.

With the radical growth in the ubiquity of digital platforms, the sharing economy is here to stay. This Handbook explores the nature and direction of the sharing economy, interrogating its key dynamics and evolution over the past decade and critiquing its effect on society. Using an interdisciplinary perspective, this Handbook analyses labour, governance, trust and consumption in the contemporary sharing economy. It questions the apparent contradiction between its components: the moral economy of small-scale communal sharing versus the far-flung reaches of the market economy. Chapters explore ways to resolve this paradox, theorizing hybrid economic forms and considering the replacement of human trust inherent in the sharing economy with a transactional reputation economy. Featuring a variety of both conceptual explorations and empirical investigations in a variety of different cross-cultural contexts, this Handbook illustrates how and, more importantly, why the sharing economy has reshaped marketplaces, and will continue to disrupt them as it develops. Written in an accessible style, this thorough Handbook offers crucial insights for researchers across a variety of disciplines interested in the trajectories of modern consumption, as well as students studying the sharing economy. Practitioners, policy makers and public speakers working in and around the sharing economy will also benefit from this book's unique analysis of trends in consumer economics. Contributors include: A. Arvidsson, G. Avram, F. Bardhi, H. Bartling, M. Baz Radwan, R. Belk, H.H. Chang, A. Chattopadhyay, R. Corten, D. Dalli, A. DeCrop, N. Drozdova, G. Eckhardt, T. Eriksson, E. Fischer, F. Fortezza, A. Gandini, A. Gessinger, A. Graul, A. Gruen, A.J. Hawley, I. Kleppe, S. Kurtmollaiev, M. Laamanen, C. Laurell, C.X. Li, A. Light, R.J. Lutz, J. Mallarge, K. Mikolajewska-Zaj c, L. Mimoun, M. Moehlmann, O. Mont, J. Morales, A. Mukherjee, C. Oberg, L.K. Ozanne, E. Papaoikonomou, G. Patsiaouras, C. Pitt, K. Plangger, M. Rocas-Royo, A. Ryan, C. Sandstrom, M. Saren, K. Strzyczkowski, W. Suetzl, T. Teubner, C. Valor, P. van den Bussche, G. von Richthofen, Y. Voytenko Palgen, S. Wahlen, T. Widlok, P. Zidda, L. Zvolska

Acclaim for the first edition:'Free Market Economics is virtually a must read for serious economists . . . Highly recommended.' - Choice: Current Reviews for Academic Libraries 'A refreshing theoretical counterattack to the established Keynesian world view that has left the West financially overpromised, disastrously broke, and vulnerable to crank ideas. Professor Kates has brilliantly resurrected Say's law of markets - Keynes's old nemesis - into a new modern framework that forms the foundation of a new sustainable economy.' - Mark Skousen, editor, Forecasts & Strategies and formerly of the Columbia Business School, US 'Steven Kates has written an exciting new book on the basics of economics. He avoids the dry and unrealistic assumptions of most introductions to economics. He puts change, entrepreneurship, uncertainty, decentralized knowledge and spontaneous order at the center of his analysis. The reader will profit from this fresh approach far more than from an ordinary textbook. This is a treatment for the general reader that both respects and engages one's intelligence.' - Mario J. Rizzo, New York University, US 'Steve Kates, an academic with business experience, does away with the unrealistic abstractions that make economics inaccessible to general readers. This book is about real, enterprising people with whom we can identify, and about how ordinary economic life evolves in conditions of uncertainty. We learn why vacuous modelling only misleads us and why economic freedom and secure institutions are essential to achieving the good life.' - Wolfgang Kasper, University of New South Wales, Australia In this thoroughly updated third edition of Free Market Economics, Steven Kates assesses economic principles based on classical economic theory. Rejecting mainstream Keynesian and neoclassical approaches even though they are thoroughly covered in the text, Kates instead looks at economics from the perspective of an entrepreneur making decisions in a world where the future is unknown, innovation is a continuous process and the future is being created before it can be understood. Key Features include: analysis derived from the theories of pre-Keynesian classical economists, as this is the only source available today that explains the classical pre-Keynesian theory of the business cycle a focus on the entrepreneur as the driving force in economic activity rather than on anonymous 'forces' as found in most economic theory today introduces a powerful though simplified model to explain the difference between modern theory of recession and classical theory of the business cycle great emphasis is placed on the consequences of decision making under uncertainty offers an introductory understanding, accessible to the non-specialist reader. The aim of this book is to redirect the attention of economists and policy makers towards the economic theories that prevailed in earlier times. Their problems were little different from ours but their way of understanding the operation of an economy and dealing with those problems was completely different. Free Market Economics, Third Edition will help students and general readers understand classical economic theory, written by someone who believes that this now-discarded approach to economic thought was superior to what is found in most of our textbooks today.

This book uses differences in firm and market regulation and organization to explain differences in national economic performance. These differences affect the way in which firms process information, which is crucial to performance. Applying game theory, contract theory, and information theory, Aoki describes the rules and conventions in Japan, the USA, and the transitional economies. He shows how firms can achieveDSand in the case of Japan, maintainDScompetitive advantage in international markets.

As Frances Fox Piven and Richard Cloward argued in the early seventies, in a capitalist economy, social welfare policies alternatingly serve political and economic ends as circumstances dictate. In moments of political stability, governments emphasize a capitalistic work ethic (even if it means working a job that will leave one impoverished); when times are less politically stable, states liberalize welfare policies to recreate the conditions for political acquiescence. Sanford Schram argues in this new book that each shift produces its own path dependency even as it represents yet another iteration of what he (somewhat ironically) calls "ordinary capitalism," where the changes in market logic inevitably produce changes in the structure of the state. In today's ordinary capitalism, neoliberalism is the prevailing political-economic logic that has contributed significantly to unprecedented levels of inequality in an already unequal society. As the new normal, neoliberalism has marketization of the state as a core feature, heightening the role of economic actors, especially financiers, in shaping public policy. The results include increased economic precarity among the general population, giving rise to dramatic political responses on both the Left and the Right (Occupy Wall Street and the Tea Party in particular). Schram examines neoliberalism's constraints on politics as well as social and economic policy and gives special attention to the role protest politics plays in keeping alive the possibilities for ordinary people to exercise political agency. The Return of Ordinary Capitalism concludes with political strategies for working through-rather than around-neoliberalism via a radical, rather than status-quo-reinforcing, incrementalism.

This is a condensed edition of 'The Road to Serfdom' republished in this edition with 'The Intellectuals and Socialism' (originally published in 1949). In 'The Road to Serfdom' F. A. Hayek set out the danger posed to freedom by attempts to apply the principles of wartime economic and social planning to the problems of peacetime. Hayek argued that the rise of Nazism was not due to any character failure on the part of the German people, but was a consequence of the socialist ideas that had gained common currency in Germany in the decades preceding the outbreak of war. Such ideas, Hayek argued, were now becoming similarly accepted in Britain and the USA. On its publication in 1944, 'The Road to Serfdom' caused a sensation. Its publishers could not keep up with demand, owing to wartime paper rationing. Then, in April 1945, Reader's Digest published a condensed version of the book and Hayek's work found a mass audience. This condensed edition was republished for the first time by the IEA in 1999. Since then it has been frequently reprinted. There is an enduring demand for Hayek's relevant and accessible message. The 'Road to Serfdom' is republished in this impression with 'The Intellectuals and Socialism' originally published in 1949, in which Hayek explained the appeal of socialist ideas to intellectuals - the 'second-hand dealers in ideas'. Intellectuals, Hayek argued, are attracted to socialism because it involves the rational application of the intellect to the organisation of society, while its utopianism captures their imagination and satisfies their desire to make the world submit to their own design.

'The definitive account of the history of poverty finance' - Susanne Soederberg Finance, mobile and digital technologies - or 'fintech' - are being heralded in the world of development by the likes of the IMF and World Bank as a silver bullet in the fight against poverty. But should we believe the hype? A Critical History of Poverty Finance demonstrates how newfangled 'digital financial inclusion' efforts suffer from the same essential flaws as earlier iterations of neoliberal 'financial inclusion'. Relying on artificially created markets that simply aren't there among the world's most disadvantaged economic actors, they also reinforce existing patterns of inequality and uneven development, many of which date back to the colonial era. Bernards offers an astute analysis of the current fintech fad, contextualised through a detailed colonial history of development finance, that ultimately reveals the neoliberal vision of poverty alleviation for the pipe dream it is.

Large infrastructure projects often face significant cost overruns and stakeholder fragmentation. Public-Private Partnerships (PPPs) allow governments to procure long-term infrastructure services from private providers, rather than developing, financing and managing infrastructure assets themselves. Aligning public and private interests and institutional logics to create robust, decades-long service contracts subject to shifting economic and political contexts is a significant cross-sectoral governance challenge. This work summarizes over a decade of research conducted by scholars at Stanford s Global Projects Center and multiple US and International collaborators to enhance the governance of both infrastructure projects and institutional investors, whose long term, cash flow obligations align especially well with the kinds of long term inflation-adjusted returns that PPP infrastructure projects can generate. In these pages, multiple theoretical perspectives are integrated and combined with empirical evidence to examine how experiences from more mature PPP jurisdictions can help improve PPP governance approaches worldwide. The information contained here will appeal to engineering, economics, political science, public policy and finance scholars interested in the delivery of high-quality, sustainable infrastructure services to the citizens in countries with established and emerging market economies. Officials in national, state/provincial and local government agencies seeking alternative financing and service provision strategies for their civil and social infrastructure, and legislators and their staff members interested in promoting PPP legislation will find this book invaluable. It will also be of high interest to long-term investment professionals from pension funds, sovereign funds, family offices and university endowments seeking to deploy money into the infrastructure asset class, and practitioners seeking insights into methods for enhancing stakeholder incentive alignment, reducing transaction costs and improving project outcomes in PPPs. Contributors: B.G. Cameron, G. Carollo, C.B. Casady, E.F. Crawley, K. Eriksson, W. Feng, M.J. Garvin, K.E. Gasparro, R.R. Geddes, W.J. Henisz, D.R. Lessard, R.E. Levitt, T. Liu, A.H.B. Monk, D.A. Nguyen, C. Nowacki, W.R. Scott, R. Sharma, A.J. South

It now seems to be a given that the principles that presided over the birth of liberalism and capitalism are no longer relevant. To understand the evolution of this ideology and economic system, Liberalism and Capitalism Today examines the work of the two authors who have contributed the most to the analysis of the conditions that lead to the emergence of these types of organization: Alexis de Tocqueville of France and Max Weber of Germany. This book thus analyzes how the evolution of the general environment of a civilization leads to the emergence of new ways of approaching economic life, and then to its development, thanks to innovations in many fields. This historical perspective makes it possible to understand the transformations that liberalism and capitalism could offer. It suggests a potential path that does not involve simply returning to a way of life that has been totally altered by the evolution of civilizations and the economy, but instead leads to a more peaceful way of living in most countries of the world.

Why are some countries rich and others poor? Why does a farmer in Sweden have a higher standard of living than a farmer in South Africa? Why does a schoolteacher in Switzerland earn more than one in Chicago? According to leading economic theorist John Kay, economic markets are key to the wealth or poverty of the world's nations. In Culture and Prosperity, Kay explores why market economies outperform socialist or centrally directed markets -- and why the imposition of market institutions often fails. His search for the truth about markets takes him from the shores of Lake Zurich to the streets of Mumbai, through theories of evolutionary psychology and moral philosophy to the flower market at San Remo and Christie's salesroom in New York.

Witty, engaging, and grounded in cutting-edge economic theory, Culture and Prosperity is essential for understanding the state of the world today.

Economic democracy is essential for creating a truly democratic political sphere. This engaging book uses Marxist theory to hypothesise that capitalism is not a democratic system, and that a modern socialist system of producer cooperatives and democratically managed enterprises is urgently needed. A New Model of Socialism focuses on the current crisis of the political Left, a result of the collapse of the Soviet model of society and the decline of statism and kingship. Bruno Jossa expands on existing theories to explore Marx?s notions on economic democracy in a modern setting. He advocates a move away from the centralised planning form of economic socialism towards a self-management system for firms that does not prioritise the interests of one class over another, in order to achieve greater economic democracy. It is argued that the establishment of such a system of democratic firms is the precondition for reducing intervention in the economy, thus enabling the State to perform its ultimate function of serving the public interest. This timely book is ideal for advanced scholars of Marxist, radical and heterodox economic theory, as well as academics with an interest in the rise of socialism in our modern world. Indeed, it will also be of value to all those seeking a viable and practical alternative to existing capitalist and socialist thinking.

Taking a realist approach, this insightful book looks at the forces shaping the evolution of global infrastructure networks. As the international economy globalises, there is an emergent need for national systems to adapt and integrate to form a global system. The authors expose the move to interconnect state infrastructures as a strategy to support and enhance states' territoriality. Examined through the lens of economic infrastructure (including transport, energy and information) this book addresses the forces of integration and fragmentation in the development of global networks. The significant impact of globalisation on infrastructure adaptation is especially highlighted, as well as the key limitations hindering development. Global Infrastructure Networks will be of great interest to academics and graduate students of geography, political economy and public policy. International policy makers will also find this a compelling read, as it identifies the benefits and limitations of upcoming developments in global infrastructure.