The Treasury is one of Britain's oldest, most powerful and secretive institutions, one that has played a central role in shaping the country's economic system. But all too often it has escaped public scrutiny when it comes to investigating the ups and downs of the UK economy. When portrayed, it is usually as a bedrock of government stability in times of crisis, repeatedly rescuing the nation's finances from the hands of posturing politicians and the combustions of world financial markets. However, there is another side to the story. In between the highs there have been many lows, from botched privatizations to dubious private finance initiatives, from failing to spot the great financial crisis to facilitating ever-growing inequalities. Davis's book goes behind the scenes to offer an inside history of the Treasury, in the words of the chancellors, advisors and civil servants themselves. It shows the shortcomings as well as the successes, the personalities and the thinking which have shaped Britain's economy since the mid-1970s. Based on interviews with over fifty key figures, it offers a fascinating, alternative insight on how and why the UK economy came to function as it does today, and why reform is long overdue. -- .

This book considers why institutional forms of modern capitalist economies differ internationally and proposes a typology of capitalism based on the theory of institutional complementarily. Different economic models are not simply characterized by different institutional forms, but also by particular pattern of interaction between complementary institutions which are the core characteristics of these models. Institutions are not just simply devices which would be chosen by 'social engineers' in order to perform a function as efficiently as possible; they are the outcome of a political economy process. Therefore, institutional change should be envisaged not as a move towards a hypothetical 'one best way', but as a result of socio-political compromises. Based on a theory of institutions and comparative capitalism, the book proposes an analysis of the diversity of modern economies and identifies five different models; the market-based Anglo-Saxon model; Asian capitalism; the Continental European model; the social democratic economies; and the Mediterranean model. Each of these types of capitalism is characterized by specific institutional complementarities. The question of the stability of the Continental European model of capitalism has been open since the beginning of the 1990's: inferior macroeconomic performance compared to Anglo-Saxon economies, alleged unsustainability of its welfare systems, too rigid markets, etc. The book examines the institutional transformations that have taken place within Continental European economies and analyses the political project behind the attempts at transforming the Continental model. It argues that Continental European economies will most likely stay very different from the market-based economies, and that political strategies promoting institutional change aiming at convergence with nglo-Saxon model are bound to meet considerable opposition.

At the beginning of the transition process, the countries of Central and Eastern Europe faced the task of creating a functioning financial system where none had existed before. A decade later, high-level practitioners and well-known experts take stock of banking and monetary policy in the region, centering on: the governance of banks; the spread of financial crisis; and, perspectives for monetary policy and banking sector development.

This book summarizes how globalizing capitalism-the economic system now presumed to dominate the global economy-can be understood from a geographical perspective. This is in contrast to mainstream economic analysis, which theorizes globalizing capitalism as a system that is capable of enabling everyone to prosper and every place to achieve economic development. From this perspective, the globalizing capitalism perspective has the capacity to reduce poverty. Poverty's persistence is explained in terms of the dysfunctional attributes of poor people and places. A geographical perspective has two principal aspects: Taking seriously how the spatial organization of capitalism is altered by economic processes and the reciprocal effects of that spatial arrangement on economic development, and examining how economic processes co-evolve with cultural, political, and biophysical processes. From this, globalizing capitalism tends to reproduce social and spatial inequality; poverty's persistence is due to the ways in which wealth creation in some places results in impoverishment elsewhere.

Addressing the unprecedented international interest in China's high-speed railways, this book adopts a global perspective to examine the success of the system and probes into its going-global strategy in the context of the "Belt and Road" initiative, providing readers around the world a better understanding of infrastructure construction under the "Belt and Road" plan, as well as the global vision of communication and mutual exchange and prosperity among the countries along the Belt and Road route. The previous American President, Barack Obama, once told President Xi Jinping that there were two things about China that he particularly admired: the high-speed railway system, and the mathematics education. "The Belt and Road, and the Global Strategy of China's High-speed Rail" provides scholarly researchers and those generally interested in China's High-speed rail excellent insight into this impressive and rapid development.

The contributors investigate how the large scale structures of capitalism and the local social relations of workplaces and organizations shape each other. They argue for a new integration of political economy and the sociology of work and organizations.

Recent years have witnessed a revolution in the way economies work. The world has moved away from centralized governments and economies, toward decentralized governments and market-driven economies. A pragmatic, non-ideological approach to mixed economic systems is becoming the order of the day, blurring the lines between public and private, and referred to here as the economy without walls. The purpose of Hamlin and Lyons' new work is to synthesize an understanding of the economy without walls, distill the implications of this economy for local communities, and apply knowledge of those implications to guiding communities' development. The book assumes that the use of intersectoral partnerships is an important part of any urban or regional development strategy. It systematically describes such partnerships, including the philosophical foundations of this approach and the financial and non-financial activities used to implement it. The work then discusses trends in the theory and practice of local community management that result from this economic restructuring. The implications of the economy without walls cannot be ignored if urban planners and related professionals are to be effective in the new worldwide environment. This book will be a must-read for scholars, students, and practitioners in urban planning, economic development, and public administration.

In the postsoviet decade Russian railways remained highly centralized, evaded the upheavals of mass privatization, and remained the backbone of a demoralized economy. Preserving much of Soviet practice, the Railways Ministry mounted a skilled rearguard action that achieved a gradual and considered adaptation to the market economy rather than the pell-mell, western-orientated, liberalization that afflicted other branches of the economy. This book describes that rearguard action, and goes on to show how railway managers are coping with the new conditions.

This work deals primarily with social costs of transformation to a market economy in Poland, the Czech Republic and Hungary. The transformation provisions have negatively affected the well-being of the population. They brought about unemployment, a phenomenon which did not exist in the previous, communist system, increased income inequities, reduced social programmes and expanded poverty. All these phenomena are examined in this book. In addition, the book discusses the strategy of transformation, privatization and the economic performance of the three countries.

Over the last decade, political economists and other macro-oriented scholars have increasingly focused on the comparative specificities of distinct capitalist systems. Mostly, these systems are studied as national systems.
Such models of capitalism are often studied with reference to various institutional dimensions: financial systems, labour relations, welfare state institutions, corporate governance, economic policy making, etc.
This volume brings innovative and synthetic contributions combining as many as these institutional dimensions as possible.
The issue contains papers by Robert Boyer, A. Tylecote & F. Visintin, Chris McNally & William Lazonick. It also contains a special section based on a contribution by Michael Shalev, "Limits and alternatives to multiple regression in comparative political economy," which adresses techniques of analysing the variety of political-economic constellations in a methdological way.
Shalevs views are critically scrutinized by a number of leading scholars, including Charles Ragin, Ro Rothstein, Gsta Esping-Andersen, Jonas Pontusson and others.

Comparative Social Research is now available online at ScienceDirect full-text online of volumes 19 onwards.
*Examines the multidimensional aspects of capitalist systems
*Online availability via ScienceDirect

A provocative and timely look at the current state of global economics, particularly how the state-owned companies of Russia, China, Latin America, and other emerging markets are influencing how people work, how they consume, and how they prosper. The global economy is changing: experts are noting slow growth in the advanced economies, greater volatility in international markets, and the emergence of state-owned companies in the competitive marketplace. This forward-looking reference explores the role that state capitalism plays within the political structures of countries throughout the world. The text begins with an introduction to state capitalism, moves into an in-depth examination of several countries and regions, and concludes with a discussion on the future of state capitalism in the next decade. Coauthors Scott B. MacDonald and Jonathan Lemco examine the challenges that state-owned companies face in the global economy, including a weak legal and commercial infrastructure, a conflict of interest between politics and business, and massive corruption in local and regional governments. A close review of the perils of state capitalism based on meritocracy devolving into crony capitalism invites debate on the longevity of this economic system versus a free market economy. Considers the factors that will impede future economic growth in China, Russia, Argentina, and Venezuela Defines the role of the state in the economy and the accompanying political system Features chapters on the economic outlook of Egypt, the Middle East, Eurasia, and Latin America Discusses the future of capitalism in the 21st century Includes a look at alternative economic scenarios in the year 2025

The prevailing aspiration of business is performance, while that of society is progress. Capitalism, both the paradigm and practice, sits at the intersection of these dual aspirations, and the essays in this volume explore its fraught status there. Contributions to this volume address questions such as (i) what's the problem with capitalism?; (ii) is the problem just with the practice or with the very paradigm?; (iii) what is progress and who is responsible for it?; (iv) what evolution is required at the individual, system, and paradigm level so that enterprises and the executives who lead them may better integrate performance with progress?; and (v) whither consumers, employees, and investors in this evolution? The book offers perspectives from two distinct intellectual domains-social science and philosophy. Scholars in social science (including economics, management, and sociology) tend to study performance. Ideas of progress, on the other hand, tend to fall more under the purview of philosophers (in particular social and political philosophers). Further, to obtain an insider's view on practice and possibilities, the volume includes essays from a handful of thoughtful business leaders. Research should consider not just how to make sustainability profitable, but also how to make profitability and the modern economic system sustainable. If we are to better comprehend why the world is in protest, to reflect on progress or dilemmas of trust, we must appreciate the tenuous assumptions of modern microeconomics and markets, and hear from modern philosophers about the basis and limits of rationality.

Is globalization forcing "non-coordinated market economies," such as Chile, Mexico, Spain, and Portugal, to converge on an Anglo-American model? What explains national differences in social and economic policies? While theories of comparative economic advantage have dominated discussions of international trade, this book seeks to build on the hypotheses generated by the recent literature on "varieties of capitalism" to demonstrate the impact that institutions have on the national economic policy patterns of these countries.

This rich collection brings together distinguished authiors who analyze phases of capitalist development. The contributors represent a wide variety of disciplines and perspectives. They offer powerful analyses of the post-war boom, economic crisis, and globalization within the context of the study of capitalist development.

This book offers a comprehensive analysis of Chinese consumers from multiple perspectives, from the megatrends to their values and psychological changes. The book examines in detail the digital and mobile transformation of the consumers, the way their lifestyle, social interactions and shopping habits have changed, and the opportunities they offer to marketers. The analysis and insights are based on the author's first-hand observations of the metamorphosis of the consumers and consumption in China over the last fifteen years.

Informed by in-depth case studies focusing on a wide spectrum of micro and macro post-socialist realities, this book demonstrates the multi-faceted nature of informality and suggests that it is a widely diffused phenomenon, used at all levels of a society and by both winners and losers of post-socialist transition.

'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.

Games and Decision Making, Second Edition, is a unique blend of decision theory and game theory. From classical optimization to modern game theory, authors Charalambos D. Aliprantis and Subir K. Chakrabarti show the importance of mathematical knowledge in understanding and analyzing issues in decision making. Through an imaginative selection of topics, Aliprantis and Chakrabarti treat decision and game theory as part of one body of knowledge. They move from problems involving the individual decision-maker to progressively more complex problems such as sequential rationality, auctions, and bargaining. By building each chapter on material presented earlier, the authors offer a self-contained and comprehensive treatment of these topics. Successfully class-tested in an advanced undergraduate course at the Krannert School of Management and in a graduate course in economics at Indiana University, Games and Decision Making, Second Edition, is an essential text for advanced undergraduates and graduate students of decision theory and game theory. The book is accessible to students who have a good basic understanding of elementary calculus and probability theory. New to this Edition * Chapter 2 includes new sections on two-person games, best-response strategies, mixed strategies, and incomplete information * Chapter 4 has been expanded to provide new material on behavior strategies and applications * The chapter on auctions (5) includes a new section on revenue equivalence * Offers two new chapters, on repeated games (7) and existence results (9) * New applications have been added to all the chapters

At a time of rising global economic precarity and social inequality, the field of economic anthropology offers solutions through the study of local and contextualized economic practices. This book is made up of an exciting collection of succinct essays authored by leading scholars primarily from the field of economic anthropology, but also featuring contributions from sociology and history. The chapters engage with debates at the cutting edge of research on the topics of Eurasia, the anthropology of postsocialism and the embeddedness of economic practices.

As more companies shift their operations between countries to take advantage of lower costs and greater profit, the global market continues to change rapidly, resulting in global hypercompetition that can be detrimental to a business. Firms must remain updated with the latest research as they navigate cultural differences, communication challenges, and inconsistent standards in order to thrive. The Handbook of Research on Global Industry Transitions and Opportunities is an essential, comprehensive reference book that explores the current global business environment and the challenges that have arisen due to contemporary globalization and the resulting global hypercompetition. With a broad scope, the book covers the implications of industry transitions from small and medium-sized companies to multinational businesses and large enterprises and discusses opportunities for both born global and born-again global firms. Featuring topics that deal with innovation, digitalization, disruptive technologies, and international collaboration, this is an ideal source for executives, managers, entrepreneurs, global businesses and businesses looking to transition to the global market, academicians, researchers, and students.

There has been little analysis of the constitutional framework for management of the UK economy, either in constitutional law or regulatory studies. This is in contrast to many other countries where the concept of an 'economic constitution' is well established, as it is in the law of the European Union. Given the extensive role of the state in attempting to resolve recent financial crises in the UK and elsewhere in Europe, it is particularly important to develop such an analysis. This book sets out different meanings of an economic constitution, and applies them to key areas of economic management, including taxation and public borrowing, the management of public spending, (including the Spending Review), monetary policy, financial services regulation, industrial policy (including state shareholdings) and government contracting. It analyses the key institutions involved such as the Treasury and the Bank of England, also including a number of less well-known bodies such as the Office for Budget Responsibility. There is also coverage of the international context in which these institutions operate especially the European Union and the World Trade Organisation. It thus provides an account of the public law applying to economic management in the UK. This book also adopts a critical approach, assessing the degree to which there is coherence in the arrangements for economic management, the degree to which economic policy-making is constrained by constitutional norms, and the degree to which economic management is subject to deliberation and accountability through Parliament, the courts and other institutions.

This book introduces embodied innovations into the circle of already recognised causes of economic crises. The author shows how issues of investment, accumulation and structural change associated with embodied innovations can be used to monitor potential crisis. The author argues that crises are predictable and manageable in depth.

Smith, Burke, Marx, Durkheim, Polanyi and Hayek--all sought to situate market exchange and property-based acquisitiveness in the broader context of human interaction and social values. This book explores that framework of interdependence and ethics that embeds the capitalist market economy in an ongoing whole of which the calculative present-day is but a part. It argues that the stability of conservatism anchors the dynamism of entrepreneurship in a matrix of patterns and habits without which orderly free enterprise would be at risk of degenerating into the Hobbesian war of each against all.