Does economics actually help us to understand and solve real world problems? Examining and analysing the role of economics and economic theory in the social and political life of the early twentieth century, many of the arguments contained in this book are as relevant and controversial today as when they were first published. Chapters include: 1. The Relation of Economic Theory to the Actual Economic World 2. The Nature and Insignificance of the Economic Science 3. Economics as Apologetics? 4. Economic Individualism

Social Economics holds a place in the literature of the Austrian School such as John Stuart Mill's Political Economy holds in the literature of classical theory. It sums up, systematises and extends the doctrines developed by the founder of the school, the author and his fellow workers.

With an impressive array of international contributors from the UK, USA, Sweden and Peru, this book includes chapters on the following: The nature of the multinational enterprise; The theory of the firm; The location of economic activity; Industrial organization; Technology and technological change; the theory of international trade; Monetary policy; The theory of development policy; Wage determination and collective bargaining; Income distribution and welfare considerations and size of firm and size of nation.

The Role of Money examines the mystery of money in its social aspect and illustrates what money now is, what is does and what it should do. The standpoint from which the book is written is that of the public. The significance of the 'money-power' of the state to issue money has been recently recognized by historians. Its key position in shaping the course of world events is here explained. Included are: * Chapters on the philosophic background * The theory of money - Virtual Wealth * The Evolution of Modern Money * International Economic Relations * Debts and Debt Redemption

a landmark in the contemporary approach to economics"The Observer "it is as good a book as its most obvious predecessors in the genre: Smith's Wealth of Nations and Marshall's Industry and the Trade"Times Educational Supplement Setting out the problems to be solved if mankind is to be freed from poverty, Theory of Economic Growth embraces the disciplines of economics, history, sociology, politics and anthropology in its coverage. Focussing on output and growth (rather than distribution and consumption) the book discusses economic institutions, knowledge, capital, population, resources and government, and their role in the growth of output per head of population.

Upon hearing that Ronald Coase had been awarded the Nobel Prize, a fellow economist's first response was to ask with whom Coase had shared the Prize. Whether this response was idiosyncratic or not, I do not know; I expect not. Part of this type of reaction can no doubt be explained by the fact that Coase has often been characterized as an economist who wrote only two significant or influential papers: "The Nature of the Firm" (1937) and "The Problem of Social Cost" (1960). And by typical professional standards of "significant" and "influential" (i. e. , widely read and cited), this perception embodies a great deal of truth, even subsequent to Coase's receipt of the Prize. This is not to say that there have not been other important works - "The Marginal Cost Controversy" (1946) and "The Lighthouse in Economics" (1974) come immediately to mind here - only that in a random sample of, say, one hundred economists, one would likely find few who could list a Coase bibliography beyond the two classic pieces noted above, in spite of Coase's significant publication record. ' The purpose of this collection is to assess the development of, tensions within, and prospects for Coasean Economics - those aspects of economic analysis that have evolved out of Coase's path-breaking work. Two major strands of research can be identified here: law and economics and the New Institutional Economics.

A nation's commonly held ideas about economics determine success or failure of that society to meet its basic needs and promote a steadily increasing standard of living and quality of life in a safe and secure environment for its members. We examine and explain basic differences and similarities between the USSR-led Soviet/Communist/Socialist and the USA-led Democratic/Free Market/Capitalistic economic ideologies. Initiated by the ill-fated 1956 Hungarian Revolution against the USSR, certain new ideological concepts resulted. From the ruins of one dominating system (USSR) and another surviving successful one (USA), it was possible to create a new Universal Ideology of Economics (UIE). This UIE could be understood by anyone on this earth and educated to believe in any previously-defined political or economic ideologies and should replace all political ideologies. The Third Resource for new wealth creation, i.e., human-generated resources, which consist of technology and strategic capital, renders unnecessary all local and regional conflicts. Human-generated resources continually expand, transfer easily, and are unlimited. Resource although, at the time, we did not use that name. The continued, peaceful, unlimited development of the world depends on recognizing and using The Third Resource.

This book examines the methodological development of the principles of Islamic political economy in its theoretical and applied aspects. This is carried out in a general equilibrium framework using the theory of social choice. Thus a comparative study is also undertaken here in these areas while developing the theory of Islamic political economy. In these respects this book appears to be the first one of its kind.

Dealing with general economic theory, other than employment theory, the book discusses the theory of pure and monopolistic competition - with a special emphasis upon welfare aspects. Beginning with an analysis of the consumer and of the individual firm, the main stress is nevertheless placed on the analysis of the economic system as a whole.

John Mills provides a critical survey of the way economics has developed. He argues that the main goal of economics ought to be to show how to achieve a combination of economic growth, full employment, low inflation, avoidance of extreme poverty, and sustainability. That it has failed to do so is neither inevitable nor accidental. It has failed because of a combination of intellectual error and the effects of social and political pressure, which Mills claims could and should have been avoided.

Corruption has been part of our economic and political life since ancient times. During the past few years, there has been a resurgence of interest in understanding the impact that corruption has on our societies. The objective of this volume is to stimulate further studies on corruption by providing a review of existing work in this field and raising some questions that warrant further research. Contributors to this volume synthesize studies dealing with various aspects of corruption and present some new questions regarding the origin and impact of corruption. Accordingly, this volume has two aims. First, it attempts to bring together essential elements of different approaches that have been used to understand corruption. Second, many of the contributors in this volume propose a shift in the focus of studies on corruption away from bribery-type activities to corruption that results in distortion of economic policies. Economics of Corruption seeks to define and model corruption. The contributions in this volume examine the political economy of corruption - that is, why it continues to exist - as well as its consequences, and what measures, if any, can be brought to bear on this phenomenon.

This is the 19th volume in a series of research in economic anthropology. It covers: studies of Otavalo, Ecuador; commoditization; women as consumers and producers; subsistence and market production - Siberia, Mexico, Sierra Leone; and, complex prehistoric economies - Louisiana and Illinois.

Discussing the problems arising from a mixed economy, "Principles of Economic Planning" argues for a system of controls that combine and encourage the best features of laissez faire and state planning. Chapters covering the following are included: money; investment; foreign trade; mobility; the social control of business; and nationalization. Appendices on economic union and planning in developing countries are also included.

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.

In this volume, Louis-Philippe Rochon and Hassan Bougrine bring together key post-Keynesian voices in an effort to push the boundaries of our understanding of banks, central banking, monetary policy and endogenous money. Issues such as interest rates, income distribution, stagnation and crises - both theoretical and empirical - are woven together and analysed by the many contributors to shed new light on them. The result is an alternative analysis of contemporary monetary economies, and the policies that are so needed to address the problems of today. Students and professors of economics, policymakers interested in alternative policies, academics and scholars in all fields will benefit from the explorations therein, and would also appreciate the companion publication, Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics, also published by Edward Elgar Publishing. Contributors include: R. Bellofiore, H. Bougrine, J. Chen, L. Cordonnier, E. Correa, S. Dow, T. Ferguson, G. Fontana, C. Gnos, R. Guttmann, P.D. Jorgensen, P. Kriesler, E. Le Heron, J. Leclaire, V. Monvoisin, A. Parguez, E. Perez Caldentey, P. Petit, J.-F. Ponsot, L.-P. Rochon, S. Rossi, S. Thabet, J. Toporowski, M. Vernengo

The expanding importance of health as a global issue has focused attention on the value of applying the concept of Global Public Goods from economics to international health. The Global Public Goods for health concept considers 'goods' i.e. services, technologies and information, such as knowledge of an infectious disease outbreak or control of climate change, that are important for promoting the health of all populations and which are of benefit globally. Since these are 'public goods' there is often a lack of incentive to provide or feel responsible for them. The central challenge of the Global Public Goods for health concept is to ensure collective action at international level.

The main focus of this book is whether and how best Global Public Goods for health can be used to advance the health of poor populations. Written by experts from both the health, legal and economics worlds, Global Public Goods for Health develops the concept in relation to international health and health policy. Numerous case studies are used to illustrate the usefulness of the concept and consider the aspects of health that may be classed as Global Public Goods and how this helps to ensure their provision.

Does economic analysis need to incorporate a more rounded and ethical view of individuals? What is the ethical status of market capitalism? How should ethical and economic considerations be weighed together?Market Capitalism and Moral Values brings together a distinguished group of academics and policy makers who provide detailed discussion of some of the key issues at the intersection of economics and ethics. This volume focuses on the effect of moral beliefs on economic conduct, recognizing that beliefs and moral codes act as restraints on economic agents just as much as limited budgets or institutional environment. These essays combine academic rigour and clarity of presentation in addressing some of the foundational questions concerning the morality of both our economic system and economic analysis. With contributions from leading academics, commentators and policymakers such as Samuel Brittan, Nigel Lawson, Amartya Sen and Robert Skidelsky, this volume will be welcomed as a stimulating, authoritative discussion of interest to all those concerned with the ethical dimension of market capitalism. Market Capitalism and Moral Values brings together a distinguished group of academics, policy advisors and policymakers who provide detailed discussion of some of the key issues at the intersection of economics and ethics. These essays combine academic rigour and clarity of presentation in addressing some of the foundational questions concerning the morality of both of our economic system and our economic analysis.

This book offers a radical new way of approaching the Old Testament. Sigmund Wagner-Tsukamoto argues that rational, institutional and constitutional economic lessons can be derived from the Old Testament, with applications to social conflict and resolution. The book suggests that this religious text also anticipated many modern economic advances.

'Over many years, Michael Schneider has made himself one of the foremost scholars on that famous economic heretic, J.A. Hobson. Those of us who know of his interest have waited impatiently for his considered views on Hobson. Now we have it in this comprehensive, carefully researched and clearly written account of Hobson, his life and times. Schneider writes with perspective and judgement and clearly, and because of this and his chosen subject the book is an absorbing and rewarding read.' - G.C. Harcourt, University of Cambridge;'This is a scholarly, original and at times provocative book. The definitive study of Hobson the economist.' - J.E. King, La Trobe University;'Michael Schneider develops new insights on Hobson's thinking, based on a careful study of his economic analysis. This is a notably clear account which is a real service to scholarship in this field.'- P.F. Clarke, University of Cambridge;The economic theories of the English economist and social scientist J.A. Hobson (1858-1940) were pioneering for their time. This book critically analyses his theories and shows that many of them have contemporary relevance. Hobson is best known by today's economists for his underconsu

Econophysics is a newborn field of science bridging economics and physics. A special feature of this new science is the data analysis of high-precision market data. In economics arbitrage opportunity is strictly denied; however, by observing high-precision data we can prove the existence of arbitrage opportunity. Also, financial technology neglects the possibility of market prediction; however, in this book you can find many examples of predicted events. There are other surprising findings.

This volume is the proceedings of a workshop on "application of econophysics" at which leading international researchers discussed their most recent results.

This work sets out to show the state of macroeconomics at the end of the 20th century from three main perspectives: methodology, theory and economic policy. It is built on extensive conversations with some of the world's leading macroeconomists. These are based on wide questionnaires, covering jointly almost all the topics of macroeconomic theory, as well as questions of methodology, real economy, and even academic systems and future lines of research. Some of the questions have been put to all the respondents or many of them, with the aim of bringing out their different positions. References about authors and themes are also provided.

In this major book an internationally acclaimed group of scholars examines theoretical and applied topics of particular relevance to public choice analysis.Current Issues in Public Choice demonstrates the fruitfulness and originality of the Public Choice School. These twelve papers have been prepared by some of the most prominent scholars in economic science, including James M. Buchanan, Amartya K. Sen, Bruno S. Frey, Jon Elster, Geoffrey Brennan and Gordon Tullock. Specific areas covered include the foundations of public choice theory, its scope and method, constitutional economics, game theory, rent-seeking, the European Union, public finance and the theory of societal economics. The pioneering research, theory and analysis brought together in this volume will be widely and profitably used by economists, political scientists and public and social choice scholars seeking insight into fundamental theoretical issues and applied analyses on current affairs.

The book develops an explanation of distribution between profits and wages, which is both logically coherent and supported by reality. It is centred upon a concept of the money rate of interest as the variable that governs the normal profitability of capital.

This outstanding collection spanning three decades comprises a superb selection of Charles R. Plott's work in experimental economics. Market Institutions and Price Discovery contains papers which define problems, create laboratory methodology and produce the first results in many areas of experimental economics. Primarily, the volume attempts to explain what is learned from applications of experimental methods, using examples taken from the first stages of the early experimental literature. It goes on to include the first applications of newly developed laboratory methods to matters of national policy, and progresses to examine institutions such as the posted price and to other more complex institutions including opportunities for conspiracy. The focus then shifts to explore the process through which markets find a price, and then discusses the double auction which has enabled experiments to be used to study more complex environments than the single market experiments that existed formerly. The principles of stability are then used in an attempt to learn more about the dynamics of how markets adjust. This pathbreaking volume will be of enormous interest to academics, scholars and researchers involved in experimental economics, the methodology of economics, political theory, and political economy.

This section reflects the diversity of Marx's legacy in economics, including titles which have had a major impact in the development of the new analytical Marxism.