We are now living in a period of disillusion in the ability of economic policy to stabilise the economy. This is proven by the onset of severe world recession in the early 1980s and the inability to invert the negative phase of the business cycle under way in the industrialized countries in the early 1990s. The failure of old policies motivates the research into the causes of economic fluctuations and their measurement whose results are published in this volume

Duncan Pritchard offers students not only a new exploration of topics central to current epistemological debate, but also a new way of doing epistemology. This advanced textbook covers such key topics as virtue epistemology, anti-luck epistemology, epistemological disjunctivism and attributer contextualism.

This book advances Post-Keynesian Institutional economics, an integrative tradition-inspired by keen economic observers such as John Kenneth Galbraith, Joan Robinson, and Hyman Minsky-that bridges Institutional and Post Keynesian economics. The tradition proved its worth by addressing the global financial crisis of 2007-2009, as well as by analyzing long-term trends accompanying the evolution of investor-driven ("money manager") capitalism, including financialization, spreading worker insecurity, and rising inequality. This Modern Guide begins with the history and contours of Post-Keynesian Institutionalism, and then breaks new ground, extending recent analyses of contemporary economic problems, sharpening concepts and methods, sketching new theories, and synthesizing ideas across research traditions. Written by leading scholars, this authoritative collection identifies policy-relevant frontiers-on matters ranging from social capital and economic democracy to feminism and environmental sustainability-thereby setting an ambitious agenda for further Post-Keynesian Institutionalist research. In addition to being useful as a statement of current Post-Keynesian Institutionalist issues and research, the book serves as both a valuable reference volume and a source of material appropriate for course adoption for undergraduate and graduate students. Policymakers and policy analysts dissatisfied with the status quo should also find the book of interest. It will likely be especially relevant to those concerned with financial instability, worker insecurity, and inequality, problems that in recent years have had considerable economic and political consequences.

This book brings together important essays by distinguished scholars who have devoted past attention to the study of imperialism and development. It comple ments an anthology of previously published essays that brings together important theoretical perspectives around the issues and debates on these themes; this volume will be published by Humanity Press (forthcoming). Both projects relate to a lengthy chapter "Theories of Imperialism," which will be published in my book The ories of Comparative Political Economy (Forthcoming). These projects represent a culmination of many years of teaching in both economics and political science. During that time I taught two political science courses on development and under development, but I was unable to convince my colleagues of the usefulness of a course on imperialism that linked historical issues and debates with the more recent developmental literature. When in 1990 I was welcomed into economics, my col leagues endorsed a graduate seminar on the political economy of imperialism. Thus, this volume evolved out of that experience in an effort to encourage new analysis that reflects retrospectively on past contributions as well as the prospects for impe rialism and development in the contemporary world."

Explores research in economic anthropology. This title examines topics such as rethinking the informal economy; specialization, exchange and power in small-scale societies and chiefdoms; and, approaches to prehistoric economies.

First published in 1997. Routledge is an imprint of Taylor & Francis, an informa company.

Coordination is extremely important in economic, political, and social life. The concept of economic equilibrium is based on the coordination of producers and consumers in buying and selling. This book reviews the topic of coordination from an economic, theoretical standpoint. The aim of this volume is twofold: first, the book contributes to the ongoing research on the economics of coordination; and second, it disseminates results and encourages interest in the topic. The volume contains original research on coordination including general game-theoretic questions, particular coordination issues within specific fields of economics (i.e. industrial organization, international trade, and macroeconomics), and experimental research.

Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume III explores the ethics of economics.

This volume publishes a wide variety of documents. Included are Notes taken by Henry R. Seager in 1890; Robert Hoxie's Introductory Lecture on the nature of the history of political economy (1916) coupled with an internet discussion on the history of economic thought as the history of error (2005); two law school student papers on John R. Commons' work on law and economics (1926); Edwin R. A. Seligman's Autobiography (1929); Glenn Johnson's notes on Frank H. Knight's University of Chicago course on economic theory (1947) and documents pertaining to Johnson's Michigan State University course on methodology (1947); and the the conclusion of notes from Edwin E. Witte's University of Wisconsin course on government and labor (1955). It compiles hard-to-find documents into one convenient resource. Writings included span more than a century of thought.

This book is an introduction to the history of - and current measurement practice of - inflation for the United Kingdom. The authors describe the historical development of inflation measures in a global context, and do so without using formal mathematical language and related jargon that relates only to a few specialist scholars. Although inflation is a widely used and quoted statistic, and despite the important role inflation plays in real people's lives - through pension uprating, train tickets, interest rates and the work of economists - few people understand how it is created. O'Neill, Ralph and Smith mix historical data with a description of practices inside the UK statistical system and abroad, which will aid understanding of how this important economic statistic is produced, and the important and controversial choices that statisticians have made over time.

Denis O'Brien has made an outstanding contribution to economics, and the history of economic thought in particular. This selection of original essays, by a distinguished group of contributors, pays tribute to his work in the areas of the history of economic analysis and methodology.The book opens with a preface by R.D. Collison Black which is followed by a biographical introduction to Denis O'Brien's career and his contributions to economics, including a full list of his publications. The authors then explore areas where Denis O'Brien has made an important mark: classical economics, the history of monetary economics, Marshall and microeconomics, and economic methodology. This book will be welcomed by academics and students of economic history, the history of economic thought and methodology.

This timely book presents a critique of binary majority rule and provides insights into why, in many instances, the outcome of a two-option ballot does not accurately reflect the will of the people. Based on the author's first-hand experience, majority-voting is argued to be a catalyst of populism and its divisive outcomes have prompted countless disputes throughout Europe and Asia. In like manner, simple majority rule is seen as a cause of conflict in war zones, and of dysfunction in so-called stable democracies. In order to safeguard democracy, an all-party power-sharing approach is proposed, which would make populism less attractive to voters and governments alike. In geographically arranged chapters, well-tested alternative voting procedures (e. g. non-majoritarian Modified Borda Count) are presented in case studies of Northern Ireland, Central Europe, the Balkans, the Caucasus, Russia, China, North Korea and Mongolia.

First Published in 1998. Routledge is an imprint of Taylor & Francis, an informa company.

Heinrich von Stackelberg's book, "Grundlagen einer reinen Kostentheorie," published in 1932 was at the forefront of a growing conceptual revolution in the theory of the firm, a theory which appears more relevant than ever in today s economic climate. In this work, Stackelberg masterfully built a theoretical framework which he later developed in Market Structure and Equilibrium.

Foundations of a Pure Cost Theory represents the first translation of the original German version into English. This substantial book offersreaders a critical and technical understanding of the firm, how firms functionand the environments in which they operate. Fundamental notions of cost production, market economy, optimum position and velocities of production are given prominence. Ultimately, this work, which remains largely unknown, can be seen as a milestone text in our understanding of the strategies adopted by firms as a whole.

The book has been meticulously translated from the German into English, retaining the author s examples in their historical context and capturing the spirit of the time with all its subtlety and significance."

This interesting work presents a unique perspective on the history of economic thought by showing that classical economists from Adam Smith to Alfred Marshall had sympathy for workers - for example, the theory of the subsistence wage echoed the theological call for a just wage that existed in the middle ages. It also describes how these thinkers promoted either a set of social obligations or a form of social insurance to assist workers. These economic thinkers of the past argued that a subsistence standard of living was important to maintain and improve workers' efficiency and to raise healthy families. The notion that these writers had an undeveloped theory of social costs that they applied to labor should appeal to economists and others concerned with the plight of workers as the modern economy restructures itself.

In Architectures of Knowledge, Ash Amin and Patrick Cohendet argue that the time is right for research to explore the relationship between two other dimensions of knowledge in order to explain the innovative performance of firms: between knowledge that is 'possessed' and knowledge that is 'practiced' generally within communities of like-minded employees in a firm. The impetus behind this argument is both conceptual and empirical. Conceptually, there is a need to explore the interaction of knowledge that firms possess in the form of established competencies of stored memory, with the knowing that occurs in distributed communities through the conscious and unconscious acts of social interaction. Empirically, the impetus comes from the challenge faced by firms to the hierarchically defined architecture that bring together specialized units of ((possessed)) knowledge and the distributed and always unstable architecture of knowledge that draws on the continuously changing capacity of interpretation among actors. In this book, these questions of the dynamics of innovating/learning through practices of knowing, and the management of the interface between transactional and knowledge imperatives, are approached in a cross-disciplinary and empirically grounded manner. The book is the synthesis of an innovative encounter between a socio-spatial theorist and an economist. The book results from the delicate interplay between two very different epistemologies and consequent positions, but which progressively converged towards what is hoped to be a novel vision. The book begins by explaining why knowledge is becoming more of a core element of the value- generating process in the economy, then juxtaposes the economic and cognitive theorization's of knowledge in firms with pragmatic and socially grounded theorization's and a critical exploration of the neglected dimension of the spatiality of knowledge formation in firms. The book concludes by discussing the corporate governance implications of learning based on competencies and communities, and a how national science and technology policies might respond to the idea of learning as a distributed, non-cognitive, practice-based phenomenon.

An increasing body of literature concerns the economics of those highly appreciated qualities of life that are not easily provided by market exchange. Today these problems are visible as never before, for example environmental problems. But already at the dawn of industrial society the problem had been observed by Rousseau. His statements on the economy claim to take these problems into account with due importance. In this way his economic philosophy concerns a different domain of the economy from, for example, Adam Smith's work. Rousseau's philosophy attempts to consider phenomena later labeled information asymmetries and information costs, bargaining, collective good problems. Some of Rousseau's most puzzling social proposals (on theater, women, music, etc.) can be explained by his well-argued conviction that an optimal economy demands a high social morale, a communicative morale. He proposes an economic philosophy for the most important properties of richness - such as experiencing the unique, and being free although dependent on others (empowerment). It is for the adult capable of true deliberation, not for the trifle of the innocent child. He develops a concept of richness that is close to the Aristotelian capability-concept, later explored by Amartya Sen. Rousseau's economic philosophy has not been treated in a monograph before. The book should be rewarding to those interested in social theory, the history of social and economic thought, problems at the margins of market exchange, e.g. cultural economics, environmental economics, students of Rousseau and the thought of the 18th century, welfare economic theory in the direction of Arrow or Sen, and Poanyi's and others' theses about the transition from selfsufficiency to market.

This volume is centered around the issue of market design and resulting market dynamics. The economic crisis of 2007-2009 has once again highlighted the importance of a proper design of market protocols and institutional details for economic dynamics and macroeconomics. Papers in this volume capture institutional details of particular markets, behavioral details of agents' decision making as well as spillovers between markets and effects to the macroeconomy. Computational methods are used to replicate and understand market dynamics emerging from interaction of heterogeneous agents, and to develop models that have predictive power for complex market dynamics. Finally treatments of overlapping generations models and differential games with heterogeneous actors are provided.

John Maynard Keynes's seminal The General Theory of Employment, Interest and Money remains central to economic debate over sixty years after its publication. This book shows how Keynes's masterpiece is best understood not as an attempt to tackle the immediate policy issues of this age but to extend the range of thought available to economists. Understood as such, it continues to provide the most effective framework to the central issues about the functioning of the economy. The authors offer a clear exposition of Keynes's thought and its continuing relevance for economists in academic, business and government life.

Managing the World Economy , while recognizing how much has been achieved since the start of the Industrial Revolution, challenges the view that much better results could have been attained. It argues that faster economic growth and much better use of the available human talent could have been in the past, and should be in the future, achievable targets. The reasons for the performance of the world economy over the last two hundred years being well below the achievable optimum stem mainly from misconceptions about macroeconomic policy, which the book sets out to explain and correct.

This book presents an original empirical investigation of the market structure of airline city pair markets, shedding new light on the workings of competitive processes between firms. Examining a cross-section of US airline city pairs, Tabacco proposes for the first time that the industry can be understood as a natural oligopoly, each airline market being dominated by one to three airline carriers regardless of market size. The author questions the extent to which airlines deliberately prevent head-to-head competition within city pair markets, and draws intriguing conclusions about competitive forces from the observed market structure. Uncovering some of the main corporate strategies of the airline industry, the book is of immediate relevance to industry managers and practitioners, as well as academic economists.

Change manifests itself in all facets of the economy. This important collection of previously published essays illustrates how the evolutionary approach can reveal not only where change comes from, and how it happens, but also where it will lead. The Evolving Economy covers a broad spectrum of issues ranging from the biological foundations of economic behavior to the co-evolution of firms, markets, and institutions. Ulrich Witt's individualistic approach synthesizes elements familiar from the writings of Veblen and Schumpeter on economic evolution. A conceptual debate on what the notion of evolution means in the economic context is as much emphasized as is the discussion of concrete hypotheses explaining why and how evolutionary economic change comes about. Offering an outline of a paradigm focusing on endogenous economic change, this book will be of great interest to economists and economic historians. Sociologists, philosophers and anthropologists will also find this work invaluable as it presents an encompassing assessment of the role of Darwinian thought for understanding human behavior and societal evolutio

This volume contains the proceedings of the Tenth Keynes Seminar held by Keynes College at the University of Kent at Canterbury in 1991. The purpose of the seminars is to examine for the student and the layman, as well as for the professional economist, the varous aspects of Keynes's life and work.

The study of bureaucracy must include certain key questions: what are bureaucrats and bureaucracies; why do they exist and what are their functions; how do they behave; how much power do they possess; what is their impact on efficiency and production; and how do they affect society? This book contains analyses of all these issues, done by a variety of economists of differing backgrounds, approaches and opinions, broadly categorized under the labels Neoclassical, Institutionalist, and Marxist, although there are overlaps and correspondences that cross ideological and/or paradigmal boundaries. In this book the labels are employed as a guide to the reader with a preference for one approach over the others, and as an indication of how chapters in different sections are related in their approaches.

The Truth can be known with Theanthropic Ethics, which is one of the few scientific ethical categories.

Dr. Brian Keen has researched numerous ethical categories, and has found only Theanthropic Ethics understands that there is one universally applicable Truth. The Truth has practical application in every enterprise, business, or profession.

Any business, enterprise, or profession operating in an ethical manner will have the necessary "POWER" to succeed. Accounting is featured since accountants as professionals must utilize scientific methodologies.

Businesses and enterprises require "POWER Living People" to employ, since ethical employees are an asset in Truth. Many entrepreneurs are "POWER Living People."

Dr. Keen proves through conclusions from objective data that the Truth has relevance for today. Ethical dilemmas can be resolved through adherence to the Truth. For example, would you allow a cashier to accept two $5 bills for a product costing $45, and give a $10 bill for change? Would adherence to a philosophy that 5 + 5 = 55 be sufficient?

Dr. Keen knows the Truth that 5 + 5 = 10 when the same types are added. Living the Truth is ethical when utilizing this scientifically-verifiable ethical category, which is confirmed in Theanthropic Ethics.