"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 groundbreaking collection explores the profound power of Social Reproduction Theory to deepen our understanding of everyday life under capitalism. While many Marxists tend to focus on the productive economy, this book focuses on issues such as child care, health care, education, family life and the roles of gender, race and sexuality, all of which are central to understanding the relationship between economic exploitation and social oppression. In this book, leading writers such as Lise Vogel, Nancy Fraser, David McNally and Susan Ferguson reveal the ways in which daily and generational reproductive labour, found in households, schools, hospitals and prisons, also sustains the drive for accumulation. Presenting a more sophisticated alternative to intersectionality, these essays provide ideas which have important strategic implications for anti-capitalists, anti-racists and feminists attempting to find a path through the seemingly ever more complex world we live in.

This book offers a genealogical account of the rise of consumer capitalism, tracing its origins in America between 1880 and 1930 and explaining how it emerged to become the dominant form of social organization of our time. Asking how it was that we came to be consumers who live in societies that revolve around an ever-spinning circle of production and consumption, not only of goods, but also of events, experiences, emotions and relations, The Rise of Consumer Capitalism in America presents an extensive analysis of primary sources to demonstrate the conditions and forces from which consumer capitalism emerged and became victorious. Employing a Weberian approach that brings liminality to the fore as a master concept to make sense of historical change, the author links an in-depth empirical investigation to supple sociological theorizing to show how the encirclement of all aspects of life by the logic of consumer capitalism was a time-bound historical creation rather than a necessary one. A fascinating study of the appearance and triumph of the "ideology" of our age, this book will appeal to scholars of social and anthropological theory, historical sociology, cultural history and American studies.

Human life cannot be reduced to market transactions and human beings cannot only be treated as economic actors. When the power of the market increases, human beings will always try to protect themselves. Given the differences that exist in social and cultural traditions, these protective responses are likely to differ from one society to the other. This is why, even in a global market, diversity is always likely to persist. This book investigates the question of economic globalization - whether it is likely to lead to full convergence between political models and ways of life, or whether, even in a completely globalized world economy, there is likely to be scope for alternative solutions. But in a fully globalized world, how will we survive capitalism?

Agricultural politics and policy retains a central place in the politics of advanced industrial societies. Governments in most countries continue to subsidize agricultural production and regulate markets for farm commodities. The growth of concern about the environmental impact of agriculture has added a new dimension to the sector's politics. Tensions between the US and the EU over the protection of agriculture remain a major feature. New Zealand offers an interesting example of an experiment with deregulated and liberalized agriculture, while Japanese agriculture continues to be highly protected. All these topics are covered in this two volume set, which brings together the best writing on the subject from leading agricultural economists, political scientists and rural sociologists from across the world.

The theory and applications of random dynamical systems (RDS) are at the cutting edge of research in mathematics and economics, particularly in modeling the long-run evolution of economic systems subject to exogenous random shocks. Despite this interest, there are no books available that solely focus on RDS in finance and economics. Exploring this emerging area, Random Dynamical Systems in Finance shows how to model RDS in financial applications. Through numerous examples, the book explains how the theory of RDS can describe the asymptotic and qualitative behavior of systems of random and stochastic differential/difference equations in terms of stability, invariant manifolds, and attractors. The authors present many models of RDS and develop techniques for implementing RDS as approximations to financial models and option pricing formulas. For example, they approximate geometric Markov renewal processes in ergodic, merged, double-averaged, diffusion, normal deviation, and Poisson cases and apply the obtained results to option pricing formulas. With references at the end of each chapter, this book provides a variety of RDS for approximating financial models, presents numerous option pricing formulas for these models, and studies the stability and optimal control of RDS. The book is useful for researchers, academics, and graduate students in RDS and mathematical finance as well as practitioners working in the financial industry.

The Political Economy of Independent Ukraine analyses the reasons for the abysmal economic performance of Ukraine during the 1990s. The main thesis is that economic development was blocked by a set of parasitic mechanisms at all levels of the economy that prevented the development of value-added economic activities. These parasitic mechanisms already developed under Soviet rule ('beating the system' by redistributing goods and services while disregarding formal rules) became a widespread practice.

Human life cannot be reduced to market transactions and human beings cannot only be treated as economic actors. When the power of the market increases, human beings will always try to protect themselves. Given the differences that exist in social and cultural traditions, these protective responses are likely to differ from one society to the other. This is why, even in a global market, diversity is always likely to persist. This book investigates the question of economic globalization - whether it is likely to lead to full convergence between political models and ways of life, or whether, even in a completely globalized world economy, there is likely to be scope for alternative solutions. But in a fully globalized world, how will we survive capitalism?

This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics. Providing new theoretical and empirical grounds for the construction of a general, policy oriented theory of money, this thought-provoking collection will appeal to academics, researchers and students interested in monetary economics. It will also be welcomed by monetary policymakers and central bank officials.

The aim of this book, first published in 1939, is to provide a comprehensive description of the protectionist system that had been in force in Britain since 1931. It explains the principles and difficulties involved in framing and administering a customs and excise tariff, which has both revenue and political purposes. The problems of tariff negotiating are discussed, and trade agreements made are summarized.

After being proclaimed dead, there is now a major revival of socialist ideology in the West. But what does socialism mean? This book shows that it is irretrievably associated with common ownership. The twentieth-century experience of comprehensive national planning with state ownership has been disastrous, and in no case has democracy endured within large-scale socialism. This volume explains why. The alternative socialist option of worker-owned cooperatives must accept a major role for markets that many socialists reject. Featuring theoretical arguments and practical investigations, Geoffrey M. Hodgson interrogates the failures of socialist states, scrutinizing the impact and outcomes of a centralized politico-economic system. This timely and convincing book offers insight into the twentieth-century experience of comprehensive national planning, deploying less-well-known criticisms from Albert Schaffle and Michael Polanyi. Hodgson's nuanced approach brings together small-scale socialist praxis and principles of liberal solidarity, exploring an experimental approach to political and economic reform. Provocative, insightful and accessible, this book is of considerable interest to any reader with an appetite for the history of socialist theory, as well as those keen to explore new insights to heterodox economics. Students and academics of the social sciences and humanities will benefit from this book's rigorous empirical approach to historic and contemporary socialist states and its in-depth discussion of Austrian school theory.

This book provides a very broad and representative selection of the scholarly literature found in learned journals on the subject of government-business relations in the age of industry, the period since 1870. It covers all the arenas of business-government interaction.

The transformation which is unfolding in emerging European countries is a unique historic event. In several countries, the transition has been quite positive; most analysts anticipate continued real growth in the coming years. Doing Business in Emerging Europe is a user-friendly guide to doing business in Belarus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic, Slovenia, and Ukraine. Brief overviews of Bosnia-Herzegovina, Croatia, Cyprus, Macedonia, and Serbia/Yugoslavia are also included.

This book is a collection of original essays grouped into four parts under the headings "Greece and European integration," "Issues in the Methodology of Economics," "Institutions and the Free Market Economy," and "Insights for Today from Ancient Greece." The essays appeal to both researchers in the corresponding fields of knowledge and also to policy makers who are looking for ideas and approaches to confront present day challenges. In particular, given the present state of turmoil in the European Union, the international economy, and democracies in general, most of the essays offer new insights for economic and social policies.

The financial crisis, which originated in developed country financial markets, quickly spread to developing countries. Governments and central banksthough taking many and costly measures were powerless to stop the global economic meltdown, as economies across the globe went into recession. The depth of the financial crisis means that the world economy is in unchartered territory. How do we restore robust growth and prevent another crisis? This book aims to systematically understand current major problems in the financial system, its governance, and in its links to global economic imbalances. It explains how both market actors and regulators behavior, and the prevailing ideology of extreme financial liberalization and deregulation, contributed to the financial crisis. This highly topical book focuses on the transparency and regulatory measures that are necessary to restore confidence in the financial system, to ensure that the financial system performs the roles that it should perform within both developing and developed countries, and to make a recurrence less likely. The book also describes reforms in the global financial architecture that might make the global financial system more stable and more equitable. The book presents sometimes radical, but specific, pragmatic, and politically feasible proposals to try to ensure a more stable, equitable, and growing world economy. Contributions come from both developed and developing countries and are written by leading authorities in their field, including senior nationalas well as internationalpolicy makers, practitioners from the private sector, and leading academics.

The Freedom of Peaceful Action is the first installment of the trilogy The Nature of Liberty, which makes an ethical philosophic case for individual liberty and the free market against calls for greater government regulation and control. The trilogy makes a purely secular and nonreligious ethical case for the individual's rights to life, liberty, private property, and the pursuit of happiness as championed by the U.S. Founding Fathers. Inspired by such philosophic defenders of free enterprise as John Locke, Herbert Spencer, and Ayn Rand, The Nature of Liberty shows that such individual rights are not imaginary or simply assertions, but are institutions of great practical value, making prosperity and happiness possible to the degree that society recognizes them. The trilogy demonstrates the beneficence of the individual-rights approach by citing important findings in the emerging science of evolutionary psychology. Although the conclusions of evolutionary psychology have been long considered to be at odds with the philosophies of individual liberty and free markets, The Nature of Liberty presents a reconciliation that reveals their ultimate compatibility, as various important findings of evolutionary psychology, being logically applied, confirm much of what philosophic defenders of liberty have been saying for centuries. Moreover, proceeding from the viewpoint of Rand, this work argues that the structure of society most conducive to practical human well-being is commensurately the most moral and humane approach as well. The trilogy's first installment, The Freedom of Peaceful Action, focuses on the secular, philosophic foundation for a society based on individual rights. Starting from a defense of the efficacy of observational reason against criticisms from Immanuel Kant and Karl Popper, it demonstrates how a philosophic position of individual liberty and free markets is the logical result of the consistent application of human reason to observing human nature. This installment demonstrates that any political system that wishes for its citizens to thrive must take human nature into account, and that an accounting of human nature reveals that a system of maximum liberty and property protection is the one must conducive to peace and human well-being.

This book provides new insights and research studies on how developing countries come to terms with the nationalisation policies of Gulf economies that provide employment for their nationals. Focusing on regions and countries that have traditionally been overlooked, it includes studies on labour migration from Egypt to the Middle East and from the Philippines to Lebanon, migrant experiences and policy prospects in Saudi Arabia and Lebanon, and Indian migration to the Gulf. The book fills a critical gap in migration research by studying migration from various Indian states, such as Tamil Nadu, Telugu-speaking states (Telangana and Andhra Pradesh), Rajasthan and Uttar Pradesh. It also explores the unexpected phenomenon of demographic windows of economic opportunity (not documented in demographic literature) observed in a few Arab countries due to older migrant expatriates returning to their home country; the impact of international out-migration on intergenerational educational mobility among children in migrant-sending households in Kerala; and forced migration of Kerala Muslims to the Gulf.

With regions and nations having formally fulfilled the ex ante conditionality, this book provides a first overall review of RIS3 policy processes, aiming to assess the consistency of the concept of smart specialization from an applied, policy-oriented perspective. Moving from the theory of design to the practice of implementation, the reflections and case studies in this volume reveal strengths and weaknesses in the way concrete strategies have been conceived and implemented, enabling reflections on the future of the concept in a more general sense. In many cases, smart specialization strategies turn out to be new variants of regional development policies, embracing the importance of a place-based approach. However, the approach's potential to add distinctive value will stem from its capacity to turn innovation and knowledge into tools for local development by harnessing them for wider territorial development goals. By helping regions to identify and leverage untapped resources through new processes, smart specialization-based policies may help to reconcile cohesion and competitiveness objective. Consequently, new approaches appear most promising where institutional, administrative and political conditions allow the setup of genuinely new processes and where their focus is on territorial assets in a comprehensive manner rather than mere industrial renewal. This book was originally published as a special issue of European Planning Studies.

Can the ethical mission of health care survive among organizations competing for survival in the marketplace? On this question hinges not only the future of health care in the US, but that of the health care systems of all advanced countries. This book presents both an analytic framework and a menu of pragmatic answers. The team of authors, physician-ethicists from Harvard Medical School and the National Institutes of Health, worked with a consortium of health care organizations to explore some of the most challenging dilemmas in health care today: How can health plans determine medical necessity in a way that ensures quality care, controls costs, and builds trust with patients and physicians? What are the strategies for caring for vulnerable populations that meet their special neds without dramatically increasing costs? To answer these and other similar questions the authors blend ethical analysis with real-world example. The outcome is a rich analysis of the ethical challenges facing health care organizations, combined with tangible examples of exemplary methods to address these challenges. This book will help health care leaders, regulators, and policy makers incorporate exemplary practices, and the underlying themes they embody, into the very heart and soul of health care organizations.

Including essays by several leading contemporary specialists, this volume addresses the extent to which postcommunist societies have successfully institutionalized democratic politics and capitalist market economies over a decade after the collapse of the Soviet bloc. As the first volume to apply a systematic "comparative historical" approach to the subject matter, it reveals the precise social, cultural, and geographical constraints and opportunities facing postcommunist reformers.

The book examines why and how global capitalism has entered a phase of unsustainable crises of accumulation and legitimacy, and looks at various solutions to such crises, from mild reform to radical overhaul. The book then examines the various scenarios from a Latin American perspective, arguing that different countries follow diverse paths in adapting to the crisis - with significantly different outcomes. Their common challenge is how to achieve economic growth with social inclusion.

What is the nature and role of competition in markets and politics? This book examines the institutional dimension of markets and the rules and institutions that condition the operation of market economies. Particular attention is paid to the the role of the state, specifically the role of governments in shaping and maintaining the economic constitution of their societies.

This book offers a fresh take on a major question of global debate: what explains the rise in economic fraud in so many societies around the world? The author argues that the current age of fraud is an outcome of not only political-economic but also moral transformations that have taken place in societies reshaped by neoliberalism. Using the case of Uganda, the book traces these socio-cultural and especially moral repercussions of embedding neoliberalism. Uganda offers an important case of investigation for three reasons: the high level of foreign intervention by donors, aid agencies, international organisations, NGOs and corporations that have tried to produce the first fully-fledged market society in Africa there; the country's reputation as having adopted neoliberal reforms most extensively, and the intensification of fraud in many sectors of the economy since the early 2000s. The book explores the rise and operation of the neoliberal moral economy and its world of hard and fraudulent practices. It analyses especially the moral-economic character of agricultural produce markets in eastern Uganda. It shows that neoliberal moral restructuring is a highly political, contested and conflict-ridden process, predominantly works via recalibrating the political-economic structure of a country, and deeply affects how people think and go about earning a living and treat others with whom they do business. The book offers an in-depth, data-based analysis of the moral climate of a market society in motion and in so doing offers insights and lessons for elsewhere in the Global South and North.

This book provides a cogent analysis of the globalization process and the role of the imperial state in twentieth-century capitalist expansion on a world scale. It examines the development of capitalism and the capitalist state across national boundaries and traces the evolution of imperialism and interimperialist rivalries that have come to define the nature of the world political economy. As transnational capital has become a mighty force controlling the economies of advanced and less-developed capitalist countries around the world, capitalism and capitalist relations of production have spread to and dominated societies and social relations in remote parts of the globe. The resulting globalization of capital has given transnationals free reign to impose capitalist practices on a global scale, such that only the biggest and most powerful capitalist monopolies have become the real beneficiaries. Berberoglu argues that while the globalization of capital enriches only a small segment of society- the owners of the transnational corporations - it devastates the great majority of the world's population. The process has immense consequences for working people throughout the world. As workers become aware of this reality and begin to address the issues that affect them, they begin to organize and become involved in class struggle to effect change.

Developmental Macroeconomics: Access to Demand, the Exchange Rate and Growth offers a new approach to development economics and macroeconomics. It is a Keynesian-structuralist approach to economics applied to middle income countries that emphasizes the strategic role of demand in creating investment opportunities that are essential to economic development. It also explores crucial links between short-term full employment and financial stability with medium term growth. While this book emphasizes the central role played by the exchange rate it does not ignore other macroeconomic prices (the interest rate, the inflation rate and the profit rate). It develops a group of concepts and models and blends them together in the model of the tendency to the cyclical overvaluation of the exchange rate in developing countries. According to this model, the exchange rate tends to be chronically overvalued. In so far that this is true the exchange rate ceases to be just a short-term problem to be treated by macroeconomics and becomes central to development economics and should be crucially oriented to manage the exchange rate and keep it competitive at the industrial equilibrium level. The book closes with the presentation of new developmentalism - a national development strategy based on the system of models previously discussed that is both an alternative to old national-developmentalism and to liberal orthodoxy or the Washington consensus.