Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. Presenting state-of-the-art reviews on classical and novel research fields in economic psychology, this Research Agenda studies the fundamentals, perceptions and understanding of economic phenomena and behaviour. Internationally renowned experts as well as the next generation of researchers summarize the field and outline promising avenues of future research. Research topics are addressed from an interdisciplinary perspective, providing a broad spectrum of thought on economic psychology. Exploring important gaps in research, chapters include theoretical as well as applied themes and cover novel research fields, to keep the reader abreast of contemporary developments. These include the psychology of money, product design, financial capabilities, sustainable consumption, diet, ethical conduct, gender inequality, the sharing economy, basic income, happiness, and tax psychology. Researchers and advanced students of economics and psychology looking to update their knowledge and refresh their thinking on future research will greatly benefit from this timely book. Contributors include: S. Asbach, J.M. Bauer, J. Bosak, S. Diefenbach, K. Gangl, A. Gasiorowska, B. Hartl, M. Hassenzahl, D. Hilton, E. Hofmann, J. Khan, E. Kirchler, C. Kulich, C. Loibl, T.L. Milfont, K. Patel, L.A. Reisch, G. Rivers, D. Schwartz, M. Sommer, D. Stimmler, O. Stravrova, C. Tanner, I. Vlaev

This wide-ranging set of papers deals with crucial questions in economic theory, economic policy and economic history. The papers help explain why economic performance deteriorated dramatically in the West over the past three decades as the ''Golden Age'' of capitalism after World War II was replaced by global neoliberal capitalism. They show that theoretical frameworks rooted in the radical and heterodox traditions can explain this evolution and the current global economic and financial crisis, something mainstream theories cannot do. Topics include but are not limited to: methodology: a critique of ''positivism'' is used to explain why mainstream reliance on fairy-tale assumptions should be replaced by realistic assumption sets as argued by Marx and Keynes Marx, Keynes and Minsky on financial market instability versus mainstream theories of ''efficient'' financial markets how Keynes's assumption that the future is unknowable revolutionized not only macro theory but the micro theory of agent choice as well structural causes of the current global financial crisis how innovative theories of competition, globalization, capital investment and financialization inspired by Marx, Keynes and Schumpeter can be used to explain the crisis tendencies of neoliberal capitalism the influence of class conflict on economic policy, including in the current ''austerity'' regimes. The papers in this book should be of interest to most economists and can be used in both graduate and upper level undergraduate courses. Many of these papers are accessible to anyone who reads the business press.

Olivier Blanchard, former chief economist of the International Monetary Fund (IMF), is author of one of the most important standard macroeconomics textbooks, which is used throughout the world. Endorsed by Blanchard himself, Anti-Blanchard Macroeconomics critically analyzes prevailing economic theory and policy in comparison with alternative approaches. This thoroughly revised edition represents a field of research that has developed through intense theoretical debates, continual empirical testing and the resultant disputes about economic policy. Emiliano Brancaccio and Andrea Califano succinctly explore the relationship between theoretical models and economic policies, providing readers with examples and empirical exercises, and showing how the conclusions of different theories can be empirically tested. This updated second edition examines the links between the issues at the core of macroeconomic debate, including economic growth, economic crises, labour market reforms, government debt sustainability, the behaviour of central banks and the stock market, among many others. Key features: Contains an analysis of the economic policies, consequences and theories surrounding the Covid-19 pandemic Examines the connection between contemporary issues in world politics, economic theory and policymaking It overcomes the typical contradiction between the opportunity to offer students a preliminary mainstream education and the need to nurture rather than crush their critical spirit It helps students to understand that economics is not a discipline that changes in a smooth, linear manner but, on the contrary, represents a dynamic field of research that develops through intense theoretical debate and continual empirical testing, and is shaped by the resultant disputes concerning economic policy Includes the typescript of a lively and informative debate between Emiliano Brancaccio and Olivier Blanchard, together with comparative economic policy examples.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. The intellectual origins of the area are explicated, and the current state of the subfield outlined. Specific topics covered include conflict over terminology, pedagogy, and content in the field of economics, measurement of the unmeasured economy, the role of caring labor in the economy, heteronormativity in economics, feminist approaches to economic development, multiple approaches to empiricism, modeling of intrahousehold relationships, consideration of the role of property rights in reifying gender roles, differential effects of international trade and finance by gender, and feminist approaches to public finance and social welfare.

Providing an up-to-date account of Modern Monetary Theory (MMT) with contributions from the world's leading experts, each chapter offers new insights on the topic, building upon MMT's established body of work. This innovative book analyses key economic issues from a wide set of regions including the UK, Europe and the Global South, addressing previous concerns that MMT is too US-focused. Alongside ground-breaking research written by MMT's original developers and leading academics, the book also includes contributions from economic historians and public policy campaigners, highlighting how MMT contributes to challenging neoliberalism and the hegemony of mainstream macroeconomics. Offering an examination of the existing legal, institutional and policy framework which governs the UK Exchequer in particular, it examines how the central claims of MMT map onto the financial activities of the UK government. This will be key reading for undergraduate and postgraduate economics students, as well as more advanced scholars of the discipline, particularly for those looking into theories of finance, money and banking. It will also have a wider appeal across the social sciences, including politics and sociology students.

Post-Keynesian Monetary Theory recaps Marc Lavoie's views on monetary theory over a 35-year period, seen from a post-Keynesian perspective. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism. Readers will find analyses of the earlier advocates of endogenous money such as Nicholas Kaldor and Jacques Le Bourva. They will discover how the arguments in support of the post-Keynesian theory of endogenous money and the credit view of banking have evolved through this 35-year period, and how they have been related to the new procedures pursued by central banks. All these essays show the relevance of the realistic post-Keynesian monetary theory in understanding the subprime and euro crises, quantitative easing and the distributional role of interest rates. Within these pages Marc Lavoie provides an overview of what has happened in post-Keynesian monetary economics over the last three and a half decades for students and scholars with interest in monetary economics, the horizontalist-structuralist debates and the recent history of economic thought.

Countering the claims that competition contradicts and undermines ethical thought processes and actions, Christoph Lutge successfully argues that competition and ethics do not necessarily have to oppose one another. He highlights how intensified competition can in fact work in favour of ethical goals, and that many criticisms of competition stem from an out-dated understanding of how modern societies and economies function. Illustrating this view with examples from ecology, healthcare and education, the author calls for a more entrepreneurial spirit in analysing the relationship between competition and ethics. This book delivers important arguments for the ethics of innovation, using a combination of theoretical and practical evidence to support it. Researchers and scholars of economics, business, philosophy and politics will greatly benefit from the fresh interdisciplinary perspectives and thorough exploration of the complex relationship between modern competition and ethics.

A practical guide, from the basic techniques, through to advanced applications, showing you what risk management is, and how you can develop a successful strategy for your company.

Mastering Risk Management provides a step-by-step guide from the basic to advanced elements of risk management. Following the 3-part framework, it covers:

1. What do we mean by risk management?
2. Risk management tools
3. What keeps management awake at night

Focusing on practical applications, it gives you the knowledge needed to understand what risk management is and puts in place a workable way of managing it.

Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. Providing a critical overview of cultural economics, this Research Agenda explores the current state of affairs in the field, suggesting methods of improvement for the coherency and progressiveness of future research. Situating work in this area in its historical context, Samuel Cameron draws together a range of international contributors to explore the development of cultural economics. Undertaking a thorough examination of matters of data quality, statistical methodology and the challenge of new developments in technology, chapters examine the different approaches to cultural economics. The book explores the myriad ways in which the topic has been neglected by mainstream economics, and examines reasons why it needs to be considered, evaluated and explored in more detail in our modern world. Current researchers in cultural economics, as well as cultural policies and leisure studies will find this book an invaluable read in exploring different ways to integrate cultural economics into mainstream studies. This Research Agenda will also be an invaluable aid for advanced students to create discussions suitable for essay topics and dissertations. Contributors include: S. Cameron, C. Peukert, J. Snowball, H. Sonnabend, M. Zieba

Alec Hogg is one of South Africa's leading financial journalists, and the founder of Moneyweb and Biznews.

Here he helps us to learn how the investment genius of Warren Buffett can be applied to South African investing. This book is packed with invaluable lessons and insights from the world's greatest wealth creator. Useful charts and graphics are included in the book to provide more details about concepts and shares.

Packed inside the book you'll find:

• What $10'000 invested in Berkshire in 1965 looks like today
• Buffett's Top 4 Companies
• Stock charts of important South African companies

Part of The Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large. It focuses on the specific relationship between central banking, monetary policy and social responsibility as central banks wake up to new realities. The book examines this relationship not only in connection to the economic, monetary and financial impact of the so-called 'unconventional' monetary policies, but also in connection to the functioning of today's democracies. A new framework and model for central banking is proposed in this rethinking of monetary policy, and the role of central banks as institutions in democracies is considered. Scholars and students interested in central banking and monetary policy, the issue of social responsibility and the relationship between central banks and democracy will benefit from the ideas presented by the editors and authors of Central Banking, Monetary Policy and Social Responsibility.

Responding to the growing importance of economic reasoning in legal scholarship, this innovative work provides an essential introduction to the economic tools which can usefully be employed in legal reasoning. It is geared specifically towards those without a great deal of exposure to economic thinking and provides law students, legal scholars and practitioners with a practical toolbox to shape their writing, understanding and case preparation. The book's clear focus on economic methods poses a refreshing change to conventional textbooks in this area, which tend to focus on content-related theories. Recognizing that it is often difficult to derive adequate conclusions for legal arguments without first understanding the methodological limitations of economic studies, this book provides a comprehensive coverage of the most important economic concepts in order to bridge this gap. These include: game theory public choice and social choice theory behavioural economics empirical research design basic statistics Owing to its concise and accessible style, Economic Methods for Lawyers will provide an invaluable companion for legal scholars or practitioners who wish to utilise economic methods for developing legal argument. Contributor include: M. Englerth, S. J. Goerg, S. Magen, A. Morell, N. Petersen, K.U. Schmolke, E.V. Towfigh

Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. In recent years, an explosive rise in computing power and the digitization of data has allowed researchers in new institutional economics (NIE) to investigate questions that could never before be systematically analysed. This book explores key issues for future research in the field, analysing both traditional areas of focus in NIE and more recent areas of interest. Consisting of 30 concise chapters written by top NIE scholars, this Research Agenda probes issues at the forefront of NIE, including government, contracts, property rights, norms, culture, and beliefs. Analysing rapid changes in technology and the environment, such as the rise of social media and the effects of climate change in agriculture, this book offers unique insights into key contemporary issues. Written in non-technical terms, this book will inform and inspire students and those starting their careers in economics, law and political science. NIE scholars will also find the book invaluable in updating their understanding of crucial research questions and seeking new areas to explore. Contributors: J.S. Ahlquist, J.E. Aldy, D.W. Allen, J. Bednar, J.C. Cardenas, P. Castaneda Dower, R. Fernandez, S. Gehlbach, R. Gil, M.A. Golden, C. Guerriero, S. Iyer, P. Keefer, K. Kosec, R. Kunneke, C. Long, R. Macchiavello, K.J. Mayer, C. Menard, T. Mogues, M.W. Moszoro, B. Mueller, S. Oh, D. Parker, J. Prufer, P. Prufer, M. Servatka, M.M. Shirley, E. Simison, F. Sobbrio, J. Teorell, T. Terpstra, M. Vatiero, S. Voigt, S. Wallsten, G. Zanarone, D. Ziblatt

Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. Providing a critical overview of cultural economics, this Research Agenda explores the current state of affairs in the field, suggesting methods of improvement for the coherency and progressiveness of future research. Situating work in this area in its historical context, Samuel Cameron draws together a range of international contributors to explore the development of cultural economics. Undertaking a thorough examination of matters of data quality, statistical methodology and the challenge of new developments in technology, chapters examine the different approaches to cultural economics. The book explores the myriad ways in which the topic has been neglected by mainstream economics, and examines reasons why it needs to be considered, evaluated and explored in more detail in our modern world. Current researchers in cultural economics, as well as cultural policies and leisure studies will find this book an invaluable read in exploring different ways to integrate cultural economics into mainstream studies. This Research Agenda will also be an invaluable aid for advanced students to create discussions suitable for essay topics and dissertations. Contributors include: S. Cameron, C. Peukert, J. Snowball, H. Sonnabend, M. Zieba

The Austrian School forms a concise but comprehensive exposition of the main tenets of the modern Austrian School of Economics while also providing a detailed explanation of the differences between the Austrian and the neoclassical (including the Chicago School) approaches to economics. The book also includes: * reviews of the contributions of the main Austrian economists, critical analysis of the major objections to Austrian economics and an evaluation of its likely future development * complete exposition on the concepts and implications of entrepreneurship and dynamic competition * a new concept of dynamic efficiency (as an alternative to the standard Paretian criterion) and a generalised definition of socialism (as a systematic aggression against entrepreneurship) * evaluation of the role of Spanish Scholastics of the 16th century as forerunners of the Austrian School, as well as the influence and contributions of the main Austrian Scholars of the 19th and 20th centuries. This book will most notably appeal to Austrian economists but also to other free market economists as well as researchers and academics of economic methodology, the history of economic thought, institutional economics and comparative economic systems.

The international fragmentation of current production processes has led to an explosion of trade in intermediate products, indirectly impacting jobs, income, resources, energy, and emissions. Much of what is consumed is produced via global value chains contributing to climate change via carbon dioxide emissions. The editors comprehensively present research that has advanced the state of the art in input-output analysis over the past two decades, along with an original introduction. Also provided is analysis of the complex interdependent international production structures and their links to social inequality and the environment, which has led to a demand for international input-output tables.

Post-Keynesian Growth Theory is the second volume of Marc Lavoie's Selected Essays, and is a collection of 18 articles published between 1995 and 2020, on themes touching growth and distribution. The book contains an extended foreword by Eckhard Hein, and an introduction by Lavoie that recalls how he became attracted to post-Keynesian growth theory more than 45 years ago, and explains how and why this book came about. The collection includes a number of papers showing Lavoie's evolving approach to neo-Kaleckian models of growth and distribution, incorporating hysteresis, overhead labour, monetary issues, price inflation, as well as various sources of autonomous non-capacity creating expenditures. It shows how all of these interact with alternative Marxian or Sraffian approaches as well. A section of the book is also devoted to two-sector models, in particular the issue of the traverse from one equilibrium to another, extending the Kaleckian model but also providing insights into the works of Hicks and Pasinetti. Both professors and graduate students will benefit from the decades of experience and wisdom amassed and presented in Post-Keynesian Growth Theory.

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.

The Finance Book will help you think and manage like a financial strategist.

Written specifically for non-finance professionals, it will give you all you need to know to manage your business more effectively and think more strategically.

It will help you to:

• Read and interpret financial statements with confidence
• Understand financial and business language
• Learn how to analyse financial performance
• Make better financial decisions
• Deepen your learning via interactive resources

Covering business finance, accounting fundamentals, budgeting, profitability and cash management, you'll find the tools you need in order to make the best financial decisions for your business.

Imad Moosa challenges convention with this comprehensive and compelling critique of the limitations and abuses of econometrics, condemning the common practices of misapplied statistical methods in both economics and finance. After reviewing the Keynesian, Austrian and mainstream criticisms of econometrics, it is demonstrated that by using standard econometric techniques, methods and models can be manipulated to produce any desired result. These hazardous analyses may then be relied upon to support flawed policy recommendations, ideological beliefs and private interests. Moosa proposes that the way forward should instead be to rely on clear thinking, intuition and common sense rather than continue with the reliance upon econometrics. The mathematization of economics has limited the accessibility and participation in economic discussion by making the area into a complex `science' when it should not be. Appealing to both academics and practitioners of economics and finance, this book serves to challenge the acceptance of econometrics as offering trustworthy analysis. Any individual interested in this sort of empirical work will find this book a captivating read on the limitations of econometrics.

Capitalism is dead. The #1 bestselling economist shows how the owners of big tech have become the world's feudal overlords.

In his boldest and most far-reaching book yet, world-famous economist Yanis Varoufakis argues that capitalism is dead and a new economic era has begun.

Insane sums of money that were supposed to re-float our economies in the wake of the financial crisis and the pandemic have ended up supercharging big tech's hold over every aspect of the economy. Capitalism's twin pillars - markets and profit - have been replaced with big tech's platforms and rents. Meanwhile, with every click and scroll, we labour like serfs to increase its power. Welcome to technofeudalism.

Drawing on stories from Greek Myth and pop culture, from Homer to Mad Men, Varoufakis explains this revolutionary transformation: how it enslaves our minds, how it rewrites the rules of global power and ultimately what it will take overthrow it.

How did economic ''experts'' worldwide fail to predict the financial crisis of 2007-2008? Eminent economist Paul Davidson discusses how mainstream economic theory may not be applicable to the world of experience. Post Keynesian theory, on the other hand, is designed to be applicable to the real world, and this book shows how applying it to policy formulation could help practically resolve economic problems. Davidson goes on to show how many Post Keynesian economists warned of the crisis as early as 2002. Post Keynesian Theory and Policy challenges the axioms on which orthodox economic theory is based and argues against their applicability to a money-using, market-oriented economy. It explores the basis for Keynes's revolutionary general theory and seeks to dispel misconceptions often found in orthodox textbooks. This accessible and expertly constructed book explains why modern economies use money-denominated contracts to organize all market transactions for production and exchange and why the law of comparative advantage's argument for free trade is not applicable to mass production industries' exports and imports. This book is a valuable resource for professional economists as well as students and academics in economics, political Science, and history, who will appreciate its new perspective and analysis of global financial events.

By combining recent research (especially that of Piketty and his associates) with established ideas (particularly from Sir Arthur Lewis), Roger McCain proposes policies that, together, would aim to reverse the observed tendency towards the concentration of wealth in market economies, thus 'approach equality.' The shortcomings and dangers of rising wealth inequality are discussed, both from the point of view of increasing instability and of equalitarian values. Drawing on Marxist concepts of class, the book clarifies both the relation of wealth to income inequality and the causal link between wealth inequality and economic instability, exploring practical issues related to the proposed policies. The role of the 'middle class' and the causes of the failure of much of the population to save even for retirement are analyzed. The author goes on to examine the implications for programs of distribution according to need and the role of the corporation, and the possibility of a scheme of economic planning that would retain the known advantages of the market allocation of resources. With inequality still a rising issue for public policy, professionals and students studying policy economics will benefit from the analysis in this book and its tight focus on inequality of wealth, as will interested lay readers with a background in economics and an interest in inequality.

Over the past twenty years there has emerged a compelling new discourse on varieties of capitalism. That discourse has an appealing common sense which challenges the view there is no alternative to free market capitalism. The initial view had a microeconomic focus that made firms the fulcrum of analysis. It distinguished between liberal market and coordinated market economies. Subsequently, there has emerged a second-generation literature which adopts a macroeconomic perspective that emphasizes differences in drivers of growth. This book provides a collection of essays that engage those second-generation concerns and questions. The new view emphasizes income distribution, which leads to a focus on institutional structures that are shaped by policy and power. A related feature is an emphasis on politics, which is the process by which policies are made. Furthermore, it asks whether economies should be understood as the product of national choices versus global capitalist system forces. That connects with the long-standing center-periphery distinction in development economics. Economists, researchers, and students will find this volume an enlightening look at an important subject.