The end of the cold war has created a new and unprecedented type of mixed economy in Eastern Europe. This innovative up-to-date book questions whether the former Eastern block countries will follow the path of West European mixed economies, or if a quite different economic system will emerge. Mixed Economies in Europe presents new work by distinguished authors who offer an evolutionary perspective on the dynamics of mixed economies. In so doing, they provide a unique, policy-orientated assessment of the formation and transformation of mixed economies in both Eastern and Western Europe. In particular, they emphasise the importance of institutional arrangements and regulatory frameworks. The book shows that the liberalization of markets, both within and between European countries has led, in many cases, to a divergence of economic performance across regions and is likely to continue to do so in the future. This raises policy considerations for the EC and its constituent governments which have not, as yet, been adequately addressed.

Capitalism With a Human Face is a carefully edited selection of Samuel Brittan's most important recent essays. It covers topics ranging from utilitarianism and the ethics of self-interest, to the principles of macroeconomic policy and how to price people into work without throwing them into poverty. The book will be controversial, for the individualistic ethic, which it is so fashionable to attack, is not merely defended but celebrated. This collection will be of special interest both to readers of Samuel Brittan's articles who would like a more extended treatment and those new to his work. A notable feature is a specially written introduction explaining how the author came to take up political economy and how he arrived at the positions elaborated in this book.

'Superb ... At a time when government action of any kind is ideologically suspect, and entrepreneurship is unquestioningly lionized, the book's importance cannot be understated' Guardian According to conventional wisdom, innovation is best left to the dynamic entrepreneurs of the private sector, and government should get out of the way. But what if all this was wrong? What if, from Silicon Valley to medical breakthroughs, the public sector has been the boldest and most valuable risk-taker of all? 'A brilliant book' Martin Wolf, Financial Times 'One of the most incisive economic books in years' Jeff Madrick, New York Review of Books 'Mazzucato is right to argue that the state has played a central role in producing game-changing breakthroughs' Economist 'Read her book. It will challenge your thinking' Forbes

Economic Theory and Capitalist Society is a collection of Shigeto Tsuru's most important essays written over the period of the past 60 years in the fields of general economic theory, development and environmental economics, and Marxian political economy. Professor Tsuru has been a leading critic of the major tenets of modern economic theory and has been credited in particular for his comparative studies of aggregate concepts, such as those of Quesnay, Keynes and Marx. Essentially an institutionalist, the author reviews the methodological significance of Marx's contribution, taking up in detail the latter's unique concept of the 'fetishism of commodities' and discussing the relevance of Marxian methodology to the analysis of present-day capitalism. The author's critique of the fundamental equation of growth accounting developed by Robert Solow, 'Effects of Technology on Productivity', is one of a number of theoretical papers included in this volume. It also features a series of important essays on environmental economics which the author, as a founder of the Japanese environmental movement, has written over the past half century. This collection of key articles by one of the most distinguished Japanese economists will be welcomed by students and practitioners in the fields of institutional and radical economics, environmental economics and the history of economic thought. The volume also includes an autobiographical essay which explains the development of Professor Tsuru's thought, his education at Harvard in the 1930s and his experience of post-war Japan. The Economic Development of Modern Japan, the second volume of Shigeto Tsuru's selected essays, is also published by Edward Elgar.

The industrialized economies of the world have experienced a considerable diversity of economic experience since the shocks of the 1970s. The authors of this major study assess the institutional determinants of economic performance in a comparative analysis of OECD economies. They focus in particular on the role played by corporatist arrangements in such countries as Austria and the Scandinavian states. Corporatism and Economic Performance argues that economists often have a narrow view of the scope and function of corporatism, focusing on the extent to which collective bargaining is centralized, and ignoring the important role of durable, consensual policy making arrangements. The record of the corporatist economies is assessed and considerable evidence is found to show that they have borne the burden of economic adjustment over the last twenty years in a less inegalitarian way than other OECD economies, with lower rates of unemployment and greater economic stability. In an increasingly integrated world economy, the future prospects for corporatism look uncertain, although there is still a strong economic case for corporatist institutions. This book sheds new light on corporatism as a complex and multidimensional entity, examining the rationale, scope, performance and future prospects of corporatist institutions.

Using theories and methods from the toolbox of Comparative Public Policy and Comparative Political Economy, Thomas Krumm's excellent book is a must-read for anyone interested in the politics of public-private partnerships in a cross-country perspective.' - Karsten Mause, University of Muenster, Germany'Why have some countries in Western Europe heavily relied on public-private partnerships between 1990 and 2009 while others have abstained from using this policy instrument? In his important study, Thomas Krumm provides an encompassing and detailed overview of PPP activities, in no less than 14 West European EU member states, that so far has not been available. Using a mixed-methods research design, the author convincingly shows that political and economic factors explain the diverse PPP trajectories in Western Europe.' - Reimut Zohlnhoefer, University of Heidelberg, Germany This comprehensive book provides a unique comparative policy analysis of public-private partnerships (PPPs) in 14 Western European countries - from Scandinavia to Greece - bringing together important insights from government and politics as well as economics and institutional analysis. Thomas Krumm focuses on political drivers for policy change in favour of PPPs, and the supportive and limiting socioeconomic and institutional conditions. Using comparative data, he charts key policies and actors involved in supporting collaboration between the State and private business organisations across Western Europe. Students and scholars of public policy, regulation and comparative politics, among other disciplines, will find this book to be useful in their research or teaching. It will also be of substantial interest to PPP practitioners, and other specialists in the subject.

Recently, the issue of inequality has regained attention in the economic and political debate. This is due to both an increase in income inequality, in particular among rich countries, and an increasing interest in this issue by researchers and politicians. In the last three decades, income inequality among rich countries increased. This period also witnessed the growth of "financial capitalism", characterised by the strong dependency of economies on the financial sector, by the globalisation and intensification of international trade and capital mobility, and by the "flexibilisation" of labour markets and the reduction of wage shares. From the 1980s to the present day, this book considers the theoretical aspects of inequality (its foundations, definitions, approaches and origins) and examines empirical evidence of income inequality in a wide range of advanced economies. The key arguments in this volume are that income inequality increased during this period because labour and welfare became seen as costs to be compressed in "financial capitalism" rather than as a fundamental part of aggregate demand to be expanded. However, the welfare state is not a drain on economic performance and competitiveness, nor is it a barrier to economic efficiency. Instead, it is demonstrated that in countries that adopt "welfare capitalism", welfare state expenditure not only contributes to a reduction in inequality but also fosters economic growth. Inequality in Financial Capitalism is of great importance to those who study economics, political economy, labour economics and globalisation.

This book explores omissions, or silences, in previous investigations of agrarian transformations by foregrounding indigenous experiences of capitalist development. Providing a rich and detailed ethnographic study, Mercedes Biocca shows how capitalist processes are perceived, experienced, and either confronted or accepted depending on the different ways in which dispossession, resistance and negotiation have become embedded in the collective local memory. Challenging accounts that efface the agency of subalterns in shaping rural dynamics, and ignore the diversity of perspectives within indigenous groups, Biocca untangles the connections between global, national and local spatial scales in her analysis of accumulation by dispossession. Using two case studies, the Qom People in Pampa del Indio and the Moqoit people in Las Tolderías, she presents the main transformations that have taken place in the Argentine agricultural sector during the hegemony of post-neoliberalism while centring the perceptions and roles of subalterns within these transformations.

This book provides an up-to-date study of public infrastructure in terms of the selection, procurement and delivery of projects. There is widespread acceptance that infrastructure is vital and needs increasing, yet less agreement about how it should be funded and procured. This book assesses in detail the features of various procurement options while also providing a framework for comparing their advantages and disadvantages. Drawing on international experiences and case studies, Darrin Grimsey and Mervyn Lewis consider some of the best and worst examples of public-private partnerships, new funding methods and infrastructure megaprojects. By offering a conceptual basis for infrastructure decision-making, the authors identify ways to improve infrastructure procurement processes. Focusing on urbanization as a driver of innovation in infrastructure, both the historical context and the future prospects of public infrastructure are analysed. Significantly, the book also examines China's ambitious plans to create a 'high-speed rail economy' and its Belt and Road Initiative across Asia that offers an interesting contrast to infrastructure developments in the United States and other advanced economies. Global Developments in Public Infrastructure Procurement is an essential source of reference for academics and students of economics, public sector finance and urban infrastructure.

"Globalization," surely one of the most used and abused buzzwords of recent decades, describes a phenomenon that is typically considered to be a neutral and inevitable expansion of market forces across the planet. Nearly all economists, politicians, business leaders, and mainstream journalists view globalization as the natural result of economic development, and a beneficial one at that. But, as noted economist Martin Hart-Landsberg argues, this perception does not match the reality of globalization. The rise of transnational corporations and their global production chains was the result of intentional and political acts, decisions made at the highest levels of power. Their aim - to increase profits by seeking the cheapest sources of labor and raw materials - was facilitated through policy-making at the national and international levels, and was largely successful. But workers in every nation have paid the costs, in the form of increased inequality and poverty, the destruction of social welfare provisions and labor unions, and an erratic global economy prone to bubbles, busts, and crises. This book examines the historical record of globalization and restores agency to the capitalists, policy-makers, and politicians who worked to craft a regime of world-wide exploitation. It demolishes their neoliberal ideology - already on shaky ground after the 2008 financial crisis - and picks apart the record of trade agreements like NAFTA and institutions like the WTO. But, crucially, Hart- Landsberg also discusses alternatives to capitalist globalization, looking to examples such as South America's Bolivarian Alliance for the Americas (ALBA) for clues on how to build an international economy based on solidarity, social development, and shared prosperity.

This informative research review discusses the most prominent papers within the economics of structural change and growth. This piece focuses on research that investigates the causes and consequences of structural change with either theoretical or calibrated models, mindfully referring to some of the most celebrated literature over the last two decades. The research review analyses literature covering the impact structural change has on an array of economic factors including convergence, per capita income and spatial development. Prefaced by an original introduction from the editors, this collection would be well suited to scholars and macro-development economists wishing to extend their knowledge of this compelling topic.

This stimulating book addresses the relationship between market authority and political authority - a favourite theme of Susan Strange to whom the book is dedicated. From a survey of the bias against capital liberalisation in economic thought to an analysis of the US role in global monetary affairs, it discusses how and why free capital flows contribute to the instability of the global capitalist system. The internationally renowned contributors analyse the history and theory of international capital flows to make sense of contemporary global investments and what they mean for global polity and the economy. They argue over the challenges of integrating large developing countries into a liberal world order and the consequences of the multilateral system for the world's poor. In further discussions they investigate the sustainability of global capitalism in light of financial crises, widespread inequality and the uncertain future for traditional welfare states. They also advance various mechanisms through which they believe greater stability and equity could be introduced into the global financial system and the world economy. Implicit in these arguments is the shared belief that tensions between visions of a rule-based, liberal world and concepts of a more equitable distribution of resources drive most of the major conflicts in the global economy. Investigating the economic, political and social drawbacks of volatile global finance, and the human choices required to introduce stability, equity and a sense of purpose to the world economy, Markets and Authorities will be an invaluable addition to the fields of economics, political science, political economy and international business.

What new products or services should you launch next year? How can you improve the productivity of a paint line? What should you name your new venture? How can you decrease patient waiting times? How can you improve the customer experience? Pretty much any creative problem-solving task can be framed as seeking a new match between solution and need, from operational process improvements to creating strategies to foster organic growth. Innovation tournaments aim to find a match that is not just good, but exceptional. Leveraging more than two decades of experience organizing innovation tournaments in Silicon Valley and on Wall Street, from Buenos Aires to Kuwait City, Shanghai to Moscow, and with many Fortune 500 companies, two renowned researchers, entrepreneurs, and the foremost experts on innovation tournaments offer a template that you can use to generate winning ideas that will drive great outcomes—whatever your challenges, whatever your business. In The Innovation Tournament Handbook: A Step-by-Step Guide to Finding Exceptional Solutions to Any Challenge, Wharton professors Christian Terwiesch and Karl T. Ulrich offer an engaging, often humorous, and always actionable guide to help you learn: --How to frame and articulate your specific innovation challenge --How to decide on the right format, structure, and strategic direction for your own innovation tournament --How to maximize the quality of the opportunities that will compete --How to select the very best ideas --How to develop those ideas into real-world opportunities --How to use tournaments to foster a culture of innovation Fast-reading and filled with real-world successes, The Innovation Tournament Handbook is a comprehensive roadmap to finding a new match between a solution and a need that is not merely good, but exceptional.

Presenting a concise overview of the post-war decline in popularity of the Austrian school of economics and its subsequent revival in the late twentieth century, this updated second edition offers a theoretical and historical introduction to the ideas of the Austrian school and its intellectually distinguishing qualities. Featuring fresh and insightful comparisons between the Austrian school and other schools of thought, this enhanced second edition includes an expanded discussion on the evolution of the Austrian school in the 21st century. The Advanced Introduction considers the field's key originators and proponents and reflects on the acceleration in interest in the last two decades. Key features include: An illustration of the key arguments that have defined heterodox economics, including the Austrian school's role in the socialist calculation debate In-depth discussions of entrepreneurship and the role of the firm in the scholarship of the Austrian school New material relating Austrian economics to other schools of thought. Undergraduate and graduate students in economics and political science will find this Advanced Introduction indispensable for understanding the revival of the Austrian school. Policymakers will also benefit from its concise and sharp overview of the school and its insights into the key features and debates.

A pioneering history traces the origins of global economic governance-and the political conflicts it generates-to the aftermath of World War I. International economic institutions like the IMF and World Bank exert incredible influence over the domestic policies of many states. These institutions date from the end of World War II and amassed power during the neoliberal era of the late twentieth century. But as Jamie Martin shows, if we want to understand their deeper origins and the ideas and dynamics that shaped their controversial powers, we must turn back to the explosive political struggles that attended the birth of global economic governance in the early twentieth century. The Meddlers tells the story of the first international institutions to govern the world economy, including the League of Nations and Bank for International Settlements, created after World War I. These institutions endowed civil servants, bankers, and colonial authorities from Europe and the United States with extraordinary powers: to enforce austerity, coordinate the policies of independent central banks, oversee development programs, and regulate commodity prices. In a highly unequal world, they faced a new political challenge: was it possible to reach into sovereign states and empires to intervene in domestic economic policies without generating a backlash? Martin follows the intense political conflicts provoked by the earliest international efforts to govern capitalism-from Weimar Germany to the Balkans, Nationalist China to colonial Malaya, and the Chilean desert to Wall Street. The Meddlers shows how the fraught problems of sovereignty and democracy posed by institutions like the IMF are not unique to late twentieth-century globalization, but instead first emerged during an earlier period of imperial competition, world war, and economic crisis.

For some, Sweden is proof that a generous welfare state is fully compatible with a growing competitive economy. For others, it is a frightening example of what big government can do to a once thriving economy. Sweden and the Revival of the Capitalist Welfare State tackles a number of controversial questions regarding Sweden's economic and political development: How did Sweden become rich? How did Sweden become egalitarian? Why has Sweden since the early 90s grown faster than the US and most EU-countries despite its high taxes and generous welfare state? The author uses new research on institutions and economic reforms to explain the rise, the fall and the recent revival of the Swedish welfare state. The central argument is that a generous welfare state like that of Sweden can work well, provided that it is built on well-functioning capitalist institutions and economic openness. The book expertly explains how Sweden developed from a poor and highly unequal society to one of the richest and most egalitarian countries in the world by building a universal welfare state on a capitalist foundation. It also engages in an important discussion about the current and future challenges for the welfare state in general. The book will fit well in introductory and advanced courses on welfare state policy, social work, sociology, economic history, institutional economics and political science. In all these disciplines, the case of Sweden has always provoked interest and debate, due to Sweden's combination of prosperity, equality and extensive welfare state. The rapid pace of change in Sweden over the last 25 years, however, means that most other books are descriptively dated. Contents: 1. Introduction 2. Prosperity and equality: The golden years 1870-1970 3. The 'not quite so golden' years 1970 - 1995 4. The return of the capitalist welfare state 5. The capitalist welfare state's bloc-transcending history 6. The consequences of increasing competition 7. The resilience of labor market regulation and rent control 8. Challenges ahead: Can the capitalist welfare state survive? Appendices Bibliography Index

Singapore, South Korea and Taiwan - East Asia's newly industrialised economies (the NIE-3) - experienced a profound development transformation over recent decades. Christopher Dent makes a comparative study of their foreign economic policies, highlighting how the NIE-3 have engaged with the international economic system in an increasingly dynamic way. The book develops a new macro-framework of foreign economic policy analysis that provides the structure for this study. The author argues that the 'development context' of the NIE-3's foreign economic policies is grounded in their common development statism and semi-peripheralisation. He further contends that it is the pursuit of economic security that primarily motivates their respective foreign economic policies. This new conceptualisation of economic security in the context of foreign economic policy will appeal to academics, researchers and students in wide range of disciplines including: Asian studies, international relations, international political economy, economics and politics.

One of the most striking phenomena in all of economics is the absence of a deep tradition of criticism focused on Keynesian economic theory. There have been critics but they are few and far between, even though Keynesian demand management has been at the centre of some of the worst economic outcomes in history, from the great stagflation of the 1970s to the twenty-year 'lost decade' in Japan that has been ongoing since the 1990s, and now, once again, the dismal recoveries that have followed the Global Financial Crisis. This book brings together some of the most vocal critics of Keynesian economics of the present time. Each author attempts to explain what is wrong with Keynesian theory for those seeking guidance on where to turn for a more accurate explanation of the business cycle and what to do when recessions occur. The contributions are by scholars from a wide number of schools of economics, include but are not restricted to Austrian, monetarist and classical perspectives. Written not just for economists, this accessible book is one of the few anti-Keynesian texts available and explains the inability of public spending and lower interest rates to have restored robust economic growth and full employment after the GFC. The collection offers an antidote to contemporary macroeconomic theory. It is an essential text for anyone wishing to understand why no stimulus has been able to bring recovery to any economy in which it has been tried. Contributors include: P.Boettke, P.L. Bylund, T. Congdon, R.M. Ebeling, R.W. Garrison, S. Horwitz, S. Kates, A. Kling, A.B. Laffer, P. Newman, G. Reisman, D. Simpson, M. Skousen, P. Smith

This book acts as a welcome foil to current thinking on the concept of globalisation, which tends to be divided into two distinct camps: one which suggests that the neo-liberal model has triumphed and has no realistic alternative, and another which argues that globalisation, in its most extreme form, does not really exist, rather having evolved gradually from the very beginnings of industrialisation. Bob Milward presents an alternative view of globalisation and argues that indeed there has been a continuum in capitalist development, but that this has been forged by historical processes and the dynamism of the competitive forces of capitalism. He identifies the emergence of monopoly capitalism as an important shaping factor, and in so doing sheds light on issues of underdevelopment, multinational imperialism and crises in advanced capitalist economies. This radical, multidisciplinary account of the condition of the global economy, encompassing a critique of the neo-liberal foundations of orthodox global analysis, will appeal to an extensive audience. Students, researchers and academics in the fields of economics, heterodox economics, economic geography, politics, sociology, development studies, international relations and public policy will find Globalisation? Internationalisation and Monopoly Capitalism to be an engaging read.

Human Capital, Trade and Public Policy in Rapidly Growing Economies argues that only two centuries ago, no society had ever enjoyed sustained growth in living standards. The contributors to this book aim to discover why the world today exhibits a predilection for perpetual self-improvement.In particular, the book focuses on the forces underlying long-lasting growth in East Asia's Newly Industrialized Countries (NICs). Drawing from the experiences of Hong Kong, South Korea, Singapore and Taiwan, it questions whether public policy can contribute to removing barriers towards accumulation of wealth, and if so, what development policy should be put in place to remedy the existing distortions or market failure problems. Theoretical and empirical analyses are also used to broach other important issues, such as: Why do some economies experience growth while others decline? What are the major determinants of long-term growth and development? Is human capital the main driving force? Does international trade play a crucial role? This book will appeal to those with an interest in development and public policy.

This book uses household survey data from five Central Asian countries to analyse the important consequences of, and elements that constitute, the creation of a market economy. The countries studied - Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan - had taken minimal action towards creating a market economy before the dissolution of the USSR in late 1991. From similar initial conditions they have pursued different post-independence economic strategies, making them ideal candidates for comparative analysis. The pivotal question concerns the determination of living standards. Who gained and who lost from the transition to a market economy? Which characteristics are rewarded in a new market economy? How do national policies and other systematic factors affect these outcomes? The authors also address other important issues that have emerged during transition debates: the position of women and the role of small businesses. The book analyses the gender issue in the narrow, but significant, sense of what happened to women in the labour market and the authors also analyze the characteristics of households with non-farm businesses. This book will prove invaluable to academics and researchers of Asian studies and particularly those with an interest in economic development and labour economics within the region.

'Superb' - Tim Harford, author of How to Make the World Add Up Money is essential to the economy and how we live our lives, yet is inherently worthless. We can use it to build a home or send us to space, and it can lead to the rise and fall of empires. Few innovations have had such a huge impact on the development of humanity, but money is a shared fiction; a story we believe in so long as others act as if it is true. Money is rarely out of the headlines - from the invention of cryptocurrencies to the problem of high inflation, extraordinary interventions by central banks and the power the West has over the worldwide banking system. In Money in One Lesson, Gavin Jackson answers the most important questions on what money is and how it shapes our world, drawing on vivid examples from throughout history to demystify and show how societies and its citizens, both past and present, are always entwined with matters of money. 'A highly illuminating, well-researched and beautifully written book on one of humanity's most important innovations' - Martin Wolf, chief economics commentator, Financial Times

Banking Reforms in South-East Europe gives a critical and detailed overview of banking system restructuring in the transitional countries of South-Eastern Europe - Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Yugoslavia - and offers suggestions for future reforms. The book opens with a comparison of the experiences of Central European advanced transitional economies with those of the Balkan countries. Proposals are put forward for ways in which positive aspects of the Central European experience can be applied to banking reform in the Balkans. The authors examine the importance of regional collaboration for the overall economic and social transition in the region, and consider whether it can facilitate the next stage of banking reform. They also analyse the results of currency board arrangements as a possible alternative to classical central banking, using the experiences of Bulgaria, Bosnia and the Yugoslav Republic of Montenegro. The book concludes with an analysis of the experience of individual economies and consists of a number of country-specific banking studies, covering all the transitional economies of South-East Europe. The book will be of great interest to both scholars of transition economies and policymakers in finance and financial institutions.

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.