The evolutionary approach to economics can be traced back as far as the eighteenth and nineteenth centuries in the work of Darwin, Smith and Malthus. These ideas have gradually developed since that time through Marx, Veblen and Marshall, and have recently experienced considerable attention. This book considers the development of evolutionary economics and its place in economic thought today. The book begins with a concise history of evolutionary economics which develops to examine the variety of approaches within the subject. The discussion continues with a rigorous analysis of why, in contrast to popular belief, evolutionary economics is not alien to neoclassical economics, arguing that it may even be considered to complement neoclassical economics. Continuing along this theme the firm is discussed from an evolutionary and neoclassical standpoint. Leading on from this is a discussion of modern model building in evolutionary economics and its relationship with Schumpeter's developmental work. Model building is examined further in relation to endogenous technological change and economic growth, and the effect that technological change and innovation can have on the spatial distribution of new industry. This book will be of special interest to evolutionary and post Keynesian economists and those interested in technological change and innovation.

William Petty (1623-1687) was a key figure in the English colonization of Ireland, the institutionalization of experimental natural philosophy, and the creation of social science.
Examining Petty's intellectual development and his invention of "political arithmetic" against the backdrop of the European scientific revolution and the political upheavals of Interregnum and Restoration England and Ireland, this book provides the first comprehensive intellectual biography of Petty based on a thorough examination not only of printed sources but also of Petty's extensive archive and pattern of manuscript circulation. It is also the first fully contextualized study of what political arithmetic--widely seen as an ancestor of modern social and economic analysis--was originally intended to do.
Ted McCormick traces Petty's education among French Jesuits and Dutch Cartesians, his early work with the "Hartlib Circle" of Baconian natural philosophers, inventors, and reformers in England, his involvement in the Cromwellian conquest and settlement of Ireland, and his engagement with both science and the politics of religion in the Restoration. He argues that Petty's crowning achievement, political arithmetic, was less a new way of analyzing economy or society than a new "instrument of government" that applied elements of the new science--a mechanical worldview, a corpuscularian theory of matter, and a Baconian stress on empirical method and the transformative purposes of natural philosophy--to the creation of industrious and loyal populations. Finally, he examines the transformation Petty's program of social engineering, after his death, into an apparently apolitical form of statistical reasoning.

Distinctively tying history with theory, political economist Joseph A. Schumpeter reached far back in time to understand what drives economic development and determines its course. Historical and empirical research provided a laboratory for learning. At the same time, he reached for a long-term vision through theoretical inspection and utmost abstraction, seeking to distil a phenomenon's essential nature and function. He believed that good theory can indicate where the economy is headed in the future. Schumpeter's attention to history and theory also informed the plan for this book. Part I trails the historical stream of financial innovations and the scholarly struggle to assimilate them in monetary thought, while Part II focuses on Schumpeter's own monetary theory. Its deliberate reconstruction from scattered sources reveals a strikingly original and still modern conception. Drawing from the detailed study of documents at various archives in Austria, Part III then concentrates on the business history of Schumpeter's failed personal endeavours in banking and as a proto-venture capitalist. Finally, Part IV casts light on the legacy of Schumpeter's monetary ideas on contemporary thought. It depicts how monetary theory initially left them behind, yet has more recently set out to return to his ideas on money, financial innovation, and growth. Overall, a surprisingly coherent picture emerges from the study of Schumpeter's neglected monetary theory, his personal history, and his intellectual legacy on the present day.

The Austrian Theory of Value and Capital provides a meticulous account of Eugen von Bohm-Bawerk's life, his theory of value, capital and interest within the context of 19th century German economic thought and the development of neoclassical economic theory.This book provides an insight into Bohm-Bawerk's intellectual development, his political leanings and personal background, including a wealth of previously unknown facts. The study also considers the development of economic thought in the 19th century in Germany and Austria. It critically analyses the work and contribution of Bohm-Bawerk and concludes that his analysis belongs to traditional 19th century German economic thought. Closely related to this is the clarification made by the author of what is genuinely 'Austrian' in the 'Austrian theory of value and distribution'. To complement the study of Bohm-Bawerk, the book also contains the first English translation of his letters to Knut Wicksell. This book will be of interest to economic theorists, those interested in Austrian economics and the history of economic thought and economic historians.

The definitive guide to the history of economic thought, fully revised twenty years after first publication Roger Backhouse's definitive guide takes the story of economic thinking from the ancient world to the present day, with a brand-new chapter on the twenty-first century and updates throughout to reflect the latest scholarship. Covering topics including globalisation, inequality, financial crises and the environment, Backhouse brings his breadth of expertise and a contemporary lens to this original and insightful exploration of economics, revealing how we got to where we are today.

This important collection of essays from the leading writers in the field, focuses on the importance of taking environmental issues into account in the process of development and poverty reduction. This book deepens our understanding of environmental sustainability in a context of economic
growth, putting sustainable development firmly back on the agenda.

As recently as 2008, when Presidents Bush and Obama acted to bail out the nation's crashing banks and failing auto companies, the perennial objection erupted anew: government has no business in . . . business. Mike O'Connor argues in this book that those who cite history to decry government economic intervention are invoking a tradition that simply does not exist. In a cogent and timely take on this ongoing and increasingly contentious debate, O'Connor uses deftly drawn historical analyses of major political and economic developments to puncture the abiding myth that business once operated apart from government. From its founding to the present day, our commercial republic has always mixed--and battled over the proper balance of--politics and economics.

Contesting the claim that the modern-day libertarian conception of U.S. political economy represents the "natural" American economic philosophy, O'Connor demonstrates that this perspective has served historically as only one among many. Beginning with the early national debate over the economic plans proposed by Alexander Hamilton, continuing through the legal construction of the corporation in the Gilded Age and the New Deal commitment to full employment, and concluding with contemporary concerns over lowering taxes, this book demonstrates how the debate over government intervention in the economy has illuminated the possibilities and limits of American democratic capitalism.

This book introduces readers to the latest advances in and approaches to intuitionistic fuzzy decision-making methods. To do so, it explores a range of applications to practical decision-making problems, together with representative case studies. Examining a host of decision-making methods, most of which are based on intuitionistic fuzzy aggregation operators, its goal is to offer readers a new way to study decision-making methods in the intuitionistic fuzzy environment. Chiefly intended for practitioners and researchers working in the areas of risk management, decision-making under uncertainty, and operational research, the book can also be used as supplementary material for graduate and senior undergraduate courses in these areas.

Knowledge And Global Power is a ground-breaking international study which examines how knowledge is produced, distributed and validated globally.

The former imperial nations – the rich countries of Europe and North America – still have a hegemonic position in the global knowledge economy. Fran Collyer, Raewyn Connell, João Maia and Robert Morrell, using interviews, databases and fieldwork, show how intellectual workers respond in three Southern tier countries, Brazil, South Africa and Australia. The study focuses on new, socially and politically important research fields: HIV/AIDS, climate change and gender studies.

The research demonstrates emphatically that ‘place matters’, shaping research, scholarship and knowledge itself. But it also shows that knowledge workers in the global South have room to move, setting agendas and forming local knowledge.

Alan Rugman is recognized as one of the leading scholars in the field of international business and his ideas have been extremely influential. The Theory of Multinational Enterprises is the first of two volumes of Rugman's key contributions to the field of international business. The articles in this volume explore aspects of multinational enterprises and apply the theory of internalization to North America, Europe and Japan. Rugman's theoretical approach is extended further as the analysis is related to research on networks and strategic alliances. Included in this volume is a unique and compelling perspective on the development of the field of international business over the past twenty years. Rugman provides the reader with insights into both the intellectual and personal history of the papers. This book is considered vital reading for both academics and policy makers interested in the relationships between multinational enterprises and governments. Together with its companion volume, Multinational Enterprises and Trade Policy, it will improve access to the work of Alan Rugman, one of the most influential scholars working on trade policy and the multinational enterprise.

The profession of academic economics has been widely criticized for being excessively dependent on technical models based on unrealistic assumptions about rationality and individual behavior, and yet it remains a sparsely studied area. This volume presents a series of background readings on the profession by leading scholars in the history of economic thought and economic methodology. Adopting a fresh critique, the contributors investigate the individual incentives prevalent in academic economics, describing economists as rational actors who react to their intellectual environment and the incentives for economic research. Timely topics are addressed, including the financial crisis and the consequences for the discipline, as well as more traditional themes such as pluralism in research, academic organizations, teaching methodology, gender issues and professional ethics. This collection will appeal to scholars working on topics related to economic methodology and the teaching of economics.

This is volume 16 in the "Major Conservative and Libertarian Thinkers" series. The Scottish philosopher Adam Smith (1723-1790) was as a pioneer of political economy. In fact, his economic thought became the foundation of classical economics and his key work, "An Inquiry into the Nature and Causes of the Wealth of Nations", is considered to be the first modern work in economics. For Smith, a free competition environment was the best way to foster economic development that would work in accordance with natural laws. The framework he set up to explain the free market remains true to this day. "Major Conservative and Libertarian Thinkers" provides comprehensive accounts of the works of seminal conservative thinkers from a variety of periods, disciplines, and traditions - the first series of its kind. Even the selection of thinkers adds another aspect to conservative thinking, including not only theorists but also writers and practitioners. The series comprises twenty volumes, each including an intellectual biography, historical context, critical exposition of the thinker's work, reception and influence, contemporary relevance, bibliography including references to electronic resources, and an index.

This major new book provides an accessible and innovative introduction to general equilibrium analysis and associated welfare economics. In this distinct and refreshing treatment, John Creedy develops a simple two sector model using only diagrams and simple mathematics to ensure that this treatment will be accessible to students.The analysis of exchange and the gains from trade in the context of price taking behaviour are the subject of the first part of the book. Special attention is given to general equilibrium supply and demand curves and, in contrast with partial equilibrium treatments, the possibility of multiple equilibria. Trading at disequilibrium prices, the influence of the numbers of traders and bargaining solutions are then discussed before production is added to the analysis and the two sector model constructed. General Equilibrium and Welfare will be welcomed for its accessible introduction to General Equilibrium analysis and for the strong emphasis it places on exchange, which is closely in line with the work of early neoclassical writers such as Jevons, Walras, Edgeworth and Wicksell.

Volume VII illustrates the administrative aspects that are an on-going component of most economic theory. It demonstrates that before the birth of political economy as a formal discipline, public and private administrators were formulating theories about economic processes as guidelines for administrative decisions. The main theme of this volume revolves around the influence of administrative considerations on the development of economic theory.

What is a fair distribution of resources and other goods when individuals are partly responsible for their achievements? This book develops a theory of fairness incorporating a concern for personal responsibility, opportunities and freedom. With a critical perspective, it makes accessible the recent developments in economics and philosophy that define social justice in terms of equal opportunities. It also proposes new perspectives and original ideas. The book separates mathematical sections from the rest of the text, so that the main concepts and ideas are easily accessible to non-technical readers.
It is often thought that responsibility is a complex notion, but this monograph proposes a simple analytical framework that makes it possible to disentangle the different concepts of fairness that deal with neutralizing inequalities for which the individuals are not held responsible, rewarding their effort, respecting their choices, or staying neutral with respect to their responsibility sphere. It dwells on paradoxes and impossibilities only as a way to highlight important ethical options and always proposes solutions and reasonable compromises among the conflicting values surrounding equality and responsibility.
The theory is able to incorporate disincentive problems and is illustrated in the examination of applied policy issues such as: income redistribution when individuals may be held responsible for their choices of labor supply or education; social and private insurance when individuals may be held responsible for their risky lifestyle; second chance policies; the measurement of inequality of opportunities and social mobility.

This report is a partial result of the China's Quarterly Macroeconometric Model (CQMM), a project developed and maintained by the Center for Macroeconomic Research (CMR) at Xiamen University. The CMR is one of the Key Research Institutes of Humanities and Social Sciences sponsored by the Ministry of Education of China, focusing on Chinese economic growth and macroeconomic policies. The CMR started to develop the CQMM for purpose of short-term forecast, policy analysis, and simulation in 2005.Based on the CQMM, the CMR with its partners hold press conferences to release forecasts for China' major macroeconomic variables. Since July 2006, twenty-seven quarterly reports titled Chinese Macroeconomic Outlook have been presented and thirteen annual reports have been published.

This innovative book demonstrates that it is possible to construct a coherent alternative to neoclassical economics based on the contributions of post Keynesian and Kaleckian economists. It identifies elements from the non-orthodox traditions, in particular from the neo-Ricardian school, that can be welded into a convincing alternative theoretical framework. The building blocks of this synthesis are the non-neo-classical microeconomic foundations of the theory of choice and of the firm. By emphasizing the consequences of a world characterized by true uncertainty and oligopolistic dominance, Marc Lavoie extends short-period paradoxes to the analysis of the long period, and bases these macroeconomic results on microeconomic foundations.

This important book goes beyond generalizations and takes a hard-headed look at the real strengths and weaknesses of Keynesian demand management and supply side economics.Keynesianism has failed to reconcile high levels of competitiveness with full employment. This was confirmed in the 1980s by the performance of the UK, the US and West Germany. Sweeping de-regulation has not proved to be an adequate solution. The book shows how effective supply conditions could supplement Keynesian demand management to achieve sustainable levels of high employment. The measures advocated include a system of industrial relations which allows high wages and job security in return for acceptance of a high pace of technological and organizational change; the promotion of skill development as well as intra-firm training programmes; the formation and encouragement of co-operation between different regions. It is argued that the supportive institutions, coupled with effective demand policies would succeed in marrying high employment with internationally competitive production.

In Explaining Economic Growth David Lim presents a new analytical framework for explaining the different growth performances of developing countries.Drawing on the growth experience of the newly industrializing economies of East Asia, the author begins his analysis by identifying the sources of output growth and the factors behind them. Recognizing that no one explanation of economic growth is entirely satisfactory, Professor Lim's analysis enables the strengths of existing explanations to be highlighted and used in the construction of more convincing hypothesis of economic growth. An operational framework for identifying the policies needed to produce greater economic growth is also developed. Explaining Economic Growth presents the large and often unstructured development literature within a systematic framework allowing for a series of policy-oriented conclusions. Accessible and yet rigorous, this major new book will be widely used by students, researchers and policy makers concerned with economic growth and development.

This book is a unique blend of difference equations theory and its exciting applications to economics. It deals with not only theory of linear (and linearized) difference equations, but also nonlinear dynamical systems which have been widely applied to economic analysis in recent years. It studies most important concepts and theorems in difference equations theory in a way that can be understood by anyone who has basic knowledge of calculus and linear algebra. It contains well-known applications and many recent developments in different fields of economics. The book also simulates many models to illustrate paths of economic dynamics.

Key Features:

.A unique book concentrated on theory of discrete dynamical systems and its traditional as well as advanced applications to economics.
.Mathematical definitions and theorems are introduced in a systematic and easily accessible way.
.Examples are from almost all fields of economics; technically proceeding from basic to advanced topics.
.Lively illustrations with numerous figures.
.Numerous simulation to see paths of economic dynamics.
.Comprehensive treatment of the subject with a comprehensive and easily accessible approach.
Key Features:

.A unique book concentrated on theory of discrete dynamical systems and its traditional as well as advanced applications to economics.
.Mathematical definitions and theorems are introduced in a systematic and easily accessible way.
.Examples are from almost all fields of economics; technically proceeding from basic to advanced topics.
.Lively illustrations with numerous figures.
.Numerous simulation to see paths of economic dynamics.
.Comprehensive treatment of the subject with a comprehensive and easily accessible approach."

This book explores official statistics and their social function in modern societies. Digitisation and globalisation are creating completely new opportunities and risks, a context in which facts (can) play an enormously important part if they are produced with a quality that makes them credible and purpose-specific. In order for this to actually happen, official statistics must continue to actively pursue the modernisation of their working methods. This book is not about the technical and methodological challenges associated with digitisation and globalisation; rather, it focuses on statistical sociology, which scientifically deals with the peculiarities and pitfalls of governing-by-numbers, and assigns statistics a suitable position in the future informational ecosystem. Further, the book provides a comprehensive overview of modern issues in official statistics, embodied in a historical and conceptual framework that endows it with different and innovative perspectives. Central to this work is the quality of statistical information provided by official statistics. The implementation of the UN Sustainable Development Goals in the form of indicators is another driving force in the search for answers, and is addressed here. This book will be of interest to a broad readership. The topics of sociology, epistemology, statistical history and the management of production processes, which are important for official statistics and their role in social decision-making processes, are generally not dealt with in statistics books. The book is primary intended for official statisticians, but researchers and advanced students in statistics, economics, sociology and the political sciences will find the book equally stimulating. Last but not least, it offers a valuable source of reflection for policymakers and stakeholders.

Economic and societal systems continually evolve as the needs and demands of society change. With the development of new technologies, research, and discoveries, various opportunities emerge for venture development and developing economies. Crowdfunding and Sustainable Urban Development in Emerging Economies provides innovative research on current issues in the rise of new platforms for digital activities, a collaborative economy, crowdsourcing, crowdfunding, and other activities that are shaping developing countries. Highlighting a range of pertinent topics, such as infrastructure finance, tertiary educational institutions, and urban sustainability, this book is an important resource for academicians, practitioners, researchers, and students.

This open access book traces the development of sociology in Germany from the late 19th century to the present day, providing a concise overview of the main actors, institutional processes, theories, methods, topics and controversies. Throughout the book, the author relates the discipline's history to its historical, economic, political and cultural contexts. The book begins with sociology in the German Reich, the Weimar Republic, National Socialism and exile, before exploring sociology after 1945 as a 'key discipline' of the young Federal Republic of Germany, and reconstructing the periods from 1945 to 1968 and from 1968 to 1990. The final chapters are devoted to sociology in the German Democratic Republic and the period from 1990 to the present day. This work will appeal to students and scholars of sociology, and to a general readership interested in the history of Germany.

This book presents a survey of the aspects of economic complexity, with a focus on foundational, interdisciplinary ideas. The long-awaited follow up to his 2011 volume Complex Evolutionary Dynamics in Urban-Regional and Ecologic-Economic Systems: From Catastrophe to Chaos and Beyond, this volume draws together the threads of Rosser's earlier work on complexity theory and its wide applications in economics and an expanded list of related disciplines. The book begins with a full account of the broader categories of complexity in economics--dynamic, computational, hierarchical, and structural--before shifting to more detailed analysis. The next two chapters address problems associated with computational complexity, especially those of computability, and discuss the Godel Incompleteness Theorem with a focus on reflexivity. The middle chapters discuss the relationship between entropy, econophysics, evolution, and economic complexity, respectively, with applications in urban and regional dynamics, ecological economics, general equilibrium theory, as well as financial market dynamics. The final chapter works to bring together these themes into a broader framework and expose some of the limits concerning analysis of deeper foundational issues. With applications in all disciplines characterized by interconnected nonlinear adaptive systems, this book is appropriate for graduate students, professors and practitioners in economics and related disciplines such as regional science, mathematics, physics, biology, environmental sciences, philosophy, and psychology.

By taking corporate marketing concepts and applying it to countries, ""nation branding"" is a way for these regions to enhance their reputations and project a desired image for international recognition. New modes of publicity and marketing geared towards geographic location fall into this category, leading nation branding to have vast benefits for the economics and societies of countries. New marketing strategies have emerged and are being adopted to consequently brand countries with this purpose of economic growth. By studying these emerging strategies and methods, nations can best develop a desired brand and reputation to foster growth and prosperity. Future Policies and Strategies for Nation Branding discusses how exactly nation branding works to benefit the function and mission of these nations along with showing how nation branding can be used as a strategic asset for the redesign of economic, political, and social characteristics of a country. The chapters outline the given situation of nations and the nature and implications of the brand that is required, measure branding inference, and propose future steps for nation branding. This book is a critical reference source for brand managers, tourism professionals, marketers, advertisers, government officials, travel agencies, academicians, researchers, and students working in the fields of international relations, economics, social sciences, business studies, marketing, and entrepreneurship.