Few writers have had a more demonstrable impact on the development of the modern world than has Karl Marx (1818-1883). Born in Trier into a middle-class Jewish family in 1818, by the time of his death in London in 1883, Marx claimed a growing international reputation. Of central importance then and later was his book Das Kapital, or, as it is known to English readers, simply Capital. Volume One of Capital was published in Paris in 1867. This was the only volume published during Marx's lifetime and the only to have come directly from his pen. Volume Two, published in 1884, was based on notes Marx left, but written by his friend and collaborator, Friedrich Engels (1820-1895). Readers from the nineteenth century to the present have been captivated by the unmistakable power and urgency of this classic of world literature. Marx's critique of the capitalist system is rife with big themes: his theory of 'surplus value', his discussion of the exploitation of the working class, and his forecast of class conflict on a grand scale. Marx wrote with purpose. As he famously put it, 'Philosophers have previously tried to explain the world, our task is to change it.'

This book focuses upon the development of economics at Oxford after the establishment of PPE and the contributions of Oxford economists during the 'years of high theory' and afterwards. Students' recollections of tutorials and lectures, and their tutors and lecturers, along with examination questions and results, amongst other aspects of teaching at Oxford, are presented here for he first time. In addition, the many contributions of Oxford economists such as Harrod, Allen, Andrews, Hicks, Meade, Richardson and Steindl, including the staff of the Oxford Institute of Statistics, along with the story of the Institute itself, are dealt with. Unpublished correspondence, memoranda and papers are collected at various archives are cited to show that Oxford's contribution to the development of economics was equal to that of Cambridge.

First published in 1904, this important economic work explores some of the leading principles underlining the development of international trade. Hobson offered a departure from the conventional treatment of international trade in economic theory, simplifying concepts of free trade, exchange and tariffs and considering the practical application of theory in a manner accessible to the reader.

This book seeks to explain long-term economic development and institutional change in terms of the cognitive features of human learning and communication processes. Martens links individual cognitive processes to macroeconomic growth theories, including economies of scale and scope, and to theories of institutional development based on asymmetric information in production processes and economies of scale in enforcement technology. With considerable flair, Bertin Martens has applied the hot new area of psychological and behavioural economics to notions of growth and development and has created a unique and impressive volume.

Challenges the conventional view that monetarism, or the theory of money, is a necessary part of classical economics and shows, in a historical account of monetary controversy, that the framework upon which classical (and Marxian) analysis is based suggests an alternative account of the inflationary process. A corollary of the argument is that the monetarist approach is a logically necessary component of neoclassical analysis and that any attempt to criticise that approach in a fundamental way must involve an explicit rejection of the conceptual structure of neoclassical economics.

Technological Revolutions and Financial Capital presents a novel interpretation of the good and bad times in the economy, taking a long-term perspective and linking technology and finance in an original and convincing way. Carlota Perez draws upon Schumpeter's theories of the clustering of innovations to explain why each technological revolution gives rise to a paradigm shift and a 'New Economy' and how these 'opportunity explosions', focused on specific industries, also lead to the recurrence of financial bubbles and crises. These findings are illustrated with examples from the past two centuries: the industrial revolution, the age of steam and railways, the age of steel and electricity, the emergence of mass production and automobiles, and the current information revolution/knowledge society. By analyzing the changing relationship between finance capital and production capital during the emergence, diffusion and assimilation of new technologies throughout the global economic system, this seminal book sheds new light on some of the most pressing economic problems of today. A bold interpretation of how the changing relationship between technological advances and financial capital shapes the patterns of economic cycles, this path-breaking book will provide essential insights for business leaders, policymakers, academics and others concerned with managing change in the world economy.

The history of policymaking has been dominated by two rival assumptions about markets. Those who have advocated Keynesian-type policies have generally based their arguments on the claim that markets are imperfectly competitive. On the other hand laissez faire advocates have argued the opposite by claiming that in fact free market policies will eliminate "market imperfections" and reinvigorate perfect competition. The goal of this book is to enter into this important debate by raising critical questions about the nature of market competition in both the neoclassical and Kaleckian traditions By drawing on the insights of the classical political economists, Schumpeter, Hayek, the Oxford Economists' Research Group (OERG) and others, the authors in this book challenge this perfect versus imperfect competition dichotomy in both theoretical and empirical terms. There are important differences between the theoretical perspectives of several authors in the broad alternative theoretical tradition defined by this book; nevertheless, a unifying theme throughout this volume is that competition is conceptualized as a dynamic disequilibrium process rather than the static equilibrium state of conventional theory. For many of the authors the growth of the firm is consistent with a heightened degree of competitiveness, as the classical economists and Schumpeter emphasized, and not a lowered one as in the conventional 'monopoly capital' and imperfect competition perspectives. Contributions by Rania Antonopoulos, Serdal Bahce, Cyrus Bina, Scott Carter, Benan Eres, Jason Hecht, Jack High, William Lazonick, Andreis Lazzarini, Fred S. Lee, J. Stanley Metcalfe, Jamee Moudud, John Sarich, Anwar Shaikh, Persefoni Tsaliki, Lefteris Tsoulfidis, and John Weeks.

This work contains articles on Adam Smith, Antonio Horta Ororio, John Maynard Keynes, and on methodological, interpretive and policy issues of economic development in Ghana. It also contains review essays on twenty-two new books on the history and methodology of economics.

Before his death in 1997, leading Marxist theoretician Geoff Pilling was preparing a collection that brought together some of his most important articles, along with some previously unpublished material. Work on the volume has now been completed by Doria Pilling, and it includes a new introduction by Ben Fine.

This is a timely publication, as Pilling 's analyses were remarkably prescient of the situation that the world 's economy finds itself in today. In particular, he analyses the crises of post-war capitalism, providing a state of the art analysis of the deep-seated and fundamental problems of the capitalist system. Chapters include an explanation of the fundamental concepts of Marx 's analysis of capitalism, their irreconcilability with Keynes theoretical system and refute the contention that all Marxist theoretical development post-Marx was distorted by Stalinism. Pilling also shows how problems in British capitalism were forerunners of those in world capitalism, and defends Engels contention that the greatest significance of the industrial revolution was the development of a working class that was forced to fight against its conditions of oppression.

Stefan Kesenne's work has added a new dimension to the literature by bringing a European perspective to the analysis of professional sports leagues. This text sets out his research programme in a clear and accessible manner. His work is profoundly influential in the sports literature and the lessons of this book need to be understood by all those interested in policies and practices of sports leagues.' - Stefan Szymanski, Cass Business School, UK'Stefan Kesenne is one of the most innovative, clear-headed sports economists writing today. With this book, he has provided a thoughtful, accessible exegesis of the extant literature on the economic theory of team sports leagues. There is no book like this currently available. It will serve as an excellent text for advanced undergraduate and graduate courses in sports economics. I heartily recommend it.' - Andrew Zimbalist, Smith College, US This revised and updated edition of a classic text offer the most comprehensive and rigorous analytical treatment of the theory of professional team sports presently available. It will be required reading for advanced undergraduate and graduate students in sports economics. Stefan Kesenne elucidates the subject in a clear and accessible manner, addressing many of the most pertinent issues including: - The peculiar economics of professional team sports - Sports product market - Player labor market - Product and labor market equilibrium - Restrictions on player mobility - Revenue sharing - Salary caps This second edition of The Economic Theory of Professional Team Sports also includes student exercises at the end of each chapter and a useful bibliography of further reading. Contents: Foreword 1. The Peculiar Economics of Professional Team Sports 2. Sports Product Market 3. Player Labour Market 4. Product and Labour Market 5. Restrictions on Player Mobility 6. Revenue Sharing 7. Salary Caps Answers to Exercises References and Selected Bibliography Index

David Ricardo on Public Debt provides a comprehensive view of public debt from the Ricardian standpoint. It shows how and why Ricardo's analysis of public debt connects to other themes and issues in Ricardian economics. Nancy Churchman demonstrates that his writings and speeches on the subject of public debt provide an interesting exploration of issues still very relevant today. In addition, they furnish us with a rich source of evidence regarding topics of interest to all Ricardian scholars, including his theories of resource allocation and economic growth, the quality of his applications of analysis to practical questions, and the motives behind both his abstract reasoning and policy recommendations.

First published in 1931, this Routledge Revivals title reissues J.A Hobson's analysis of financial distribution in the early years of Twentieth Century Britain. The book focuses on the moral questions that he considered to be important in regard to the economic reforms that were necessary to secure the utilisation of modern productivity for the welfare of mankind. In this work, Hobson considers the wasteful working of the economic system, with its over-production, under-consumption and unemployment and states that these errors are due to the unfair way in which income is apportioned among the nations, classes and individuals that produce it. Poverty in Plenty argues for a conscious economic government inspired by a sense of justice and humanity. It makes suggestions towards the establishment of such a government and presents business prosperity as a problem of morals.

Over five decades of economic and technical assistance to the countries of Africa and the Middle East have failed to improve the life prospects for over 1.4 billion people who remain vulnerable. Billions of dollars have been spent on such assistance and yet little progress has been made. Persistent hunger and hopelessness threaten more than individuals and families. These conditions foster political alienation that can easily metastasize into hostility and aggression. Recent uprisings in the Middle East are emblematic of this problem. Vulnerable people give rise to vulnerable states. This book challenges the dominant catechism of development assistance by arguing that the focus on economic growth (and fighting poverty) has failed to bring about the promised "convergence." Poor people and poor countries have clearly not closed the gap on the rich industrialized world. Pursuing convergence has been a failure. Here we argue that development assistance must be reconstituted to focus on creating economic coherence. People are vulnerable because the economies in which they are embedded do not cohere. The absence of economic coherence means that economic processes do not work as they must if individual initiative is to result in improved livelihoods. Weak and vulnerable states must be strengthened so that they can become partners in the process of creating economic coherence. When economies do not cohere, countries become breeding grounds for localized civil conflicts that often spill across national borders.

Harnessing technology for a better future Looking into the future is always difficult and often problematic-but sometimes it's useful to imagine what innovations might resolve today's problems and make tomorrow better. In this book, 15 distinguished international experts examine how technology will affect the human condition and natural world within the next ten years. Their stories reflect major ambitions for what the future could bring and offer a glimpse into the possibilities for achieving the UN's ambitious Sustainable Development Goals. The authors were asked to envision future success in their respective fields, given the current state of technology and potential progress over the next decade. The central question driving their research: What are likely technological advances that could contribute to the Sustainable Development Goals at major scale, affecting the lives of hundreds of millions of people or substantial geographies around the globe. One overall takeaway is that gradualist approaches will not achieve those goals by 2030. Breakthroughs will be necessary in science, in the development of new products and services, and in institutional systems. Each of the experts responded with stories that reflect big ambitions for what the future may bring. Their stories are not projections or forecasts as to what will happen; they are reasoned and reasonable conjectures about what could happen. The editors' intent is to provide a glimpse into the possibilities for the future of sustainable development. At a time when many people worry about stalled progress on the economic, social, and environmental challenges of sustainable development, Breakthrough is a reminder that the promise of a better future is within our grasp, across a range of domains. It will interest anyone who wonders about the world's economic, social, and environmental future.

Most economic theory is based on the assumption that economies grow in a linear fashion. Recessions, depressions and (financial) crises are explained by policy mistakes. However, economic development has historically been uneven, and this state of affairs continues today. This book argues that twentieth century economic theory has marginalized individualism and organizational variety, and puts forward the case for a pluralist approach. This book represents a unique synthesis of business theory and economic theory, which pinpoints the problems with many current mainstream theories and sets out new agendas for research. Here, Maria Brouwer argues that market competition is not about adapting to changes from outside, but is driven by human motivation and goal directed behavior. This gives managerial skills, which do not traditionally have a significant place in mainstream economic theory, a key role. It also highlights the need for organizations that have a motivational culture and appreciate human capital. This differs from the traditional view of the firm as a production function dictated by technology. Brower argues that organizations should be depicted as voluntary associations of people that pursue goals of their own, while firms compete on markets, where relative performance determines their fate. This argument builds on older theories of innovation and market competition that live on in business school curricula, and paints a picture of an economy directed by individuals and firms. This signals a bold departure from standard economic thinking.

Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's "Production of Commodities by Means of Commodities," the papers selected and contained in "Sraffa and the Reconstruction of Economic Theory" account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical (or marginalist) theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Divided into three volumes, "Sraffa and the Reconstruction of Economic Theory" debates the most fruitful routes for advancement in this field and their implications for applied and policy analysis.
This first volumes focuses on the critique of general equilibrium theory and the determinants of income distribution, together with the related issue of the method of analysis which characterises the Classical theory and the marginalist approach.

This collection of papers reflects the variety of interpretations and definitions connected with the concept of mercantilism' which have evolved historically during the last two centuries. They range from interpretations of mercantilistic' ideas to interpretations of policies. They stress the relationship between economic, social and political ideas and range from the 17th to the late 20th century. Lastly, they provide us with more knowledge of specific national cases as well as a discussion of mercantilism as a general phenomenon.

The growth of serious interest during the last fifty years in the scholastic contribution to the development of economic thought has been very marked, and no-where more so than in the history of economic thought in Spain. This book begins in the Middle Ages and traces the effect on business practice and on thought of the presence of the Christian, Islamic and Jewish communities who lived side by side in the Peninsula. It shows how the economics of Plato and Aristotle were transmitted by way of Toledo to the Latin West. In the second half of the book the author considers 'Salamancan' ideas and the views of the political economists and 'projectors' who preceded the Enlightenment. At the same time she surveys the present state of the subject and offers bibliographical guidance for the reader.

This third volume in the series is divided into four parts. The first presents a symposium on models of socialism, the second presents current research, the third, review essays, and the fourth, book reviews.

Making a case for a denationalized global currency as an alternative to the dollar, euro, and yen as the world vehicular and reserve currencies, God and Money explores the significance and theological-ethical implications of money as a social relation in the light of the dynamic relations of the triune God. Wariboko deftly analyzes the dynamics at work in the global monetary system and argues that the monarchical-currency structure of the dollar, euro, and yen may be moving toward a trinitarian structure of a democratic world currency.

Jean-Paul Fitoussi needs no introduction as one of the world's foremost Macroeconomists of his generation. This celebration of his work includes contributions from Nobel Prize - winning economists Robert W. Clower and Robert Solow as well as Olivier Blanchard and leading economic theorist, Edmond Malinvaud.

Indonesia experienced strong economic growth at greatest risk, that too would be useful for strategy formulation purposes, especially in cases in the 1970s with the help of high oil prices, a where employment protection is an important period of stagnation in the 1980s when oil prices declined and another period of strong economic objective. Finally, to the extent that policies can growth after 1986 when substantial trade and alter the probability ofsuccess or failure in coping investment liberalization enabled a dramatic with shocks, it would be useful to know which of policies is most effective and under what surge in labor-intensive manufacturing export set production. Recently, the regional financial crisis conditions. of 1997-1998 dealt Indonesia a severe shock The recent crisis in East Asia provides an from which it has not yet fully recovered. How opportunity to examine the link between industrial structure and economic resilience. The relative have its SMEs done through the twists and turns of the economy in the past quarter century? impact of the crisis by size of firm can be judged Unfortunately, the data needed to track the per in part by the effects on capacity utilization and formance of the SME sector are not as good for employment. The table below summarizes some Indonesia as for many of the other countries in results from a survey sponsored by the World East Asia."

Political and economic liberalism has generally been considered to be of marginal import in France, but at an intellectual level, it is a different story. An exploration of the history of French economic thought shows how a rich intellectual tradition developed during the nineteenth century, which has been previously neglected in English language studies of French thinking. In this important new collection, Robert Leroux brings together key works, both from widely regarded and lesser known authors, whose thinking constituted the core of a singular intellectual movement. These include such figures as Charles Dunoyer, Joseph Garnier, Gustave de Molinari, Yves Guyot, Alexis de Tocqueville, Benjamin Constant and Frederic Bastiat. Including several works that have never before been published in English, this anthology begins with a full introduction that provides an overview of liberal thought in the nineteenth century, and each text is preceded by a biographical note on the author, and an explanation of the wider significance of the text. This anthology, by bringing to the fore a number of writers and doctrinal positions, seeks to give a coherence, an overall cast to French liberalism without exaggerating its unity. It will be of interest to economists, political scientists, historians, philosophers and sociologists alike.

First published in 1960, this seminal work illuminates the interrelations of the various approaches to the theory of economic growth. Professor Meade seeks to understand the factors which determine the speed of economic growth and outlines the ways in which classical economic analysis may be developed for application to the problem of economic growth.