In the fast-changing policy arena of a country as diverse as India, gauging regional implications of policy shifts is critical but challenging. E3-India is a policy evaluation tool based on the internationally recognized E3ME global model, that allows for iterative quantification of multiple policy options within an integrated economy-energy-environment framework to support wellinformed progressive policy choices at the regional level. This book provides comprehensive coverage of creating and using E3 modeling framework for regional policy analysis, which is available in public domain for the first time in India, addressing existing flagship Government of India policies, including but not limited to the Make in India initiative, Digital India initiative, Automotive Mission Plan, Nationally Determined Commitments under the Paris agreement, and the Atmanirbhar Bharat relief package. These studies have been designed to provide in-depth and lucid insights regarding choices for resource allocation by policymakers, thereby serving as a comprehensive guide for evidence-based policymaking in India.

This collection is a tribute to a most faithful, true Keynesian, who read, thought, dreamt and promoted Keynes: Lorie Tarshis (1911-1993). This volume is focused on the important role of Lorie Tarshis's brand of Keynesianism on the effect of the Keynesian revolution on economic thought in America. Tarshis was among the first to form part of Keynes's select 'circus', not only witnessing, but actually participating in the making of The General Theory. This memorial includes new reflections on the impact of Keynesianism in the making by many of the eminent early generations of American post-war economists, Galbraith, Goodwin, Kindleberger, Samuelson, Salant, Tobin and Perlman. While their contributions shed more light on how the participants in the process, Tarshis included, effected early Keynesianism, the volume also contains contributions by those such as Moggridge and McQueen who reflect on aspects of the process from greater distance. Holzman and Reder recount Lorie Tarshis's subtle contribution and its direct impact and reverberations are reflected upon in the balance of the chapters by Colander, Dimand, Dow, Grimard, McCann and Perlman, and Parker. This book will be of great interest to scholars interested in the history of economic thought and Keynesian economics.

The epic successor to one of the most important books of the century: at once a retelling of global history, a scathing critique of contemporary politics, and a bold proposal for a new and fairer economic system.

Thomas Piketty’s bestselling Capital in the Twenty-First Century galvanized global debate about inequality. In this audacious follow-up, Piketty challenges us to revolutionize how we think about politics, ideology, and history. He exposes the ideas that have sustained inequality for the past millennium, reveals why the shallow politics of right and left are failing us today, and outlines the structure of a fairer economic system.

Our economy, Piketty observes, is not a natural fact. Markets, profits, and capital are all historical constructs that depend on choices. Piketty explores the material and ideological interactions of conflicting social groups that have given us slavery, serfdom, colonialism, communism, and hypercapitalism, shaping the lives of billions. He concludes that the great driver of human progress over the centuries has been the struggle for equality and education and not, as often argued, the assertion of property rights or the pursuit of stability. The new era of extreme inequality that has derailed that progress since the 1980s, he shows, is partly a reaction against communism, but it is also the fruit of ignorance, intellectual specialization, and our drift toward the dead-end politics of identity.

Once we understand this, we can begin to envision a more balanced approach to economics and politics. Piketty argues for a new “participatory” socialism, a system founded on an ideology of equality, social property, education, and the sharing of knowledge and power. Capital and Ideology is destined to be one of the indispensable books of our time, a work that will not only help us understand the world, but that will change it.

This textbook provides a short introduction to auction theory through exercises with detailed answer keys. Focusing on practical examples, this textbook offers over 80 exercises that predict bidders' equilibrium behaviour in different auction formats, along with the seller's strategic incentives to organize one auction format over the other. The book emphasizes game-theoretic tools, so students can apply similar tools to other auction formats. Also included are several exercises based on published articles, with the model reduced to its main elements and the question divided into several easy-to-answer parts. Little mathematical background in algebra and calculus is assumed, and most algebraic steps and simplifications are provided, making the text ideal for upper undergraduate and graduate students. The book begins with a discussion of second-price auctions, which can be studied without using calculus, and works through progressively more complicated auction scenarios: first-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions, and procurement auctions. Exercises in each chapter are ranked according to their difficulty, with a letter (A-C) next to the exercise title, which allows students to pace their studies accordingly. The authors also offer a list of suggested exercises for each chapter, for instructors teaching at varying levels: undergraduate, Masters, Ph.D. Providing a practical, customizable approach to auction theory, this textbook is appropriate for students of economics, finance, and business administration. This book may also be used for related classes such as game theory, market design, economics of information, contract theory, or topics in microeconomics.

In AN AGORIST PRIMER, Samuel Edward Konkin III -- the creator and premier activist and theoretician of Agorism -- introduces the most powerful means to free yourself, protect and increase your wealth, and liberate the whole of human society in the process Agorism is applied Counter-Economics -- the philosophy of engaging in free-market activities in defiance of government control. An evolution of libertarianism, Agorism embraces all non-coercive human action and opposes all force- or fraud-based attempts to stifle innovation, trade, thought, and wealth. If you have ever suspected that government, academia, and other entities are trying to pull the wool over your eyes in order to control your money, your morality, and your life, you'll find answers and remedies in AN AGORIST PRIMER. In one concise volume, Samuel Edward Konkin III explains the theory, principles, and -- most important of all -- the practice of Agorism. If you think that consistency between means and ends matters, this is the book for you From the preface: "Agorism is a way of thinking about the world around you, a method of understanding why things work the way they do, how they do, and how they can be dealt with - how you can deal with them. "Agorism was meant to improve the lot of everyone, not a chosen elite or unwashed underclass. Hence an introductory work that presents ideas without going through the long intellectual history and conflict of competing ideas that produced them. "As the creator of agorism, it is most incumbent on me first to attempt to reduce it to basic intelligibility." Samuel Edward Konkin III is the author of the seminal work on libertarianism and Agorism, New Libertarian Manifesto. Over the course of thirty years, he wrote, edited, and published newsletters and magazines such as Laissez Faire, New Libertarian Notes, and 101 issues of the longest-running publication of its kind, New Libertarian Weekly. Known to his friends as SEK3, Mr. Konkin graduated cum laude from the University of Alberta, serving as head of the Young Social Credit League there. He received his Masters in Theoretical Chemistry at New York University, but left NYU without submitting his Ph.D. dissertation in Quantum Mechanics to pursue his lifelong efforts to promote Counter-Economics and Agorism. He founded the New Libertarian Alliance, the Movement of the Libertarian Left and the outreach organization The Agorist Institute. His body of work is available from KoPubCo. PRAISE FOR SAMUEL EDWARD KONKIN III "Konkin's writings are to be welcomed. Because we need a lot more polycentrism in the movement. Because he shakes up Partyarchs who tend to fall into unthinking complacency. And especially because he cares deeply about liberty and can read and write, qualities which seem to be going out of style in the libertarian movement." --Murray N. Rothbard, Ph.D.

This book contains international perspectives that unifies the themes of strategic management, decision theory, and data science. It contains thought-provoking presentations of case studies backed by adequate analysis adding significance to the discussions. Most of the decision-making models in use do take due advantage of collection and processing of relevant data using appropriate analytics oriented to provide inputs into effective decision-making. The book showcases applications in diverse fields including banking and insurance, portfolio management, inventory analysis, performance assessment of comparable economic agents, managing utilities in a health-care facility, reducing traffic snarls on highways, monitoring achievement of some of the sustainable development goals in a country or state, and similar other areas that showcase policy implications. It holds immense value for researchers as well as professionals responsible for organizational decisions.

The 1990s have witnessed a vast growth of research on the topics of trust and learning. This can be explained by the profound technological and organizational changes that have made both inter-and intra-firm trust indispensable for sustaining the forms of learning that underlie successful competitive performance.Trust and Economic Learning brings together innovative research by an internationally recognized group of scholars from Europe and the United States. The distinction between trust and a variety of related concepts, including reputation, implicit contracts and confidence is examined. The links between learning and trust are then explored using a number of original empirical contributions and theoretical approaches including an adaptation of game theory, Marengo's computational model of organizational learning and the 'step by step' rule developed by Lazaric and Lorenz. In addition, Bayesian learning models are compared with evolutionary approaches based on tools of artificial intelligence to evaluate the preconditions for establishing trust. This unique volume will be a highly useful companion to traditional graduate-level texts in industrial organization. It constitutes a valuable source of knowledge for practitioners and policymakers alike. It will also be of interest to scholars interested in evolutionary and institutional economics, technology and innovation and international business.

Whether preparing us for economic recovery after the zombie apocalypse, analyzing vampire investment strategies, or illuminating the market forces that affect vampire-human romances, Economics of the Undead: Zombies, Vampires, and the Dismal Science gives both seasoned economists and layman readers something to sink their teeth into. Undead characters have terrified popular audiences for centuries, but when analyzed closely, their behaviors and stories-however farfetched-mirror our own in surprising ways. The essays collected in this book are as humorous as they are thoughtful, as culturally relevant as they are economically sound, and provide an accessible link between a popular culture phenomenon and the key concepts necessary to building one's understanding of economic systems big and small. It is the first book to apply and combine economics and our society's fascination with the undead, and is an invaluable resource for those looking to learn economic fundamentals in a fun and innovative way. Contributions by: Kyle William Bishop, Eleanor Brown, Ian Chadd, Darwynn Deyo, Steven Horwitz, Daniel Farhat, Jean-Baptiste Fleury, Enrique Guerra-Pujol, Brian Hollar, Sebastien Lecou, Joseph Mandarino, Alain Marciano, Fabien Medvecky, David T. Mitchell, Michael O'Hara, M. Christine Phillips, A. Lynn Phillips, G. Michael Phillips, Lorna Piatti-Farnell, Robert Prga, Hollis Robbins, Sarah Skwire, Ilya Somin, David Tufte, Mary Jo Tufte, and Charlotte Weil

We live in an age of economics. We are encouraged not only to think of our work but also of our lives in economic terms. In many of our practices, we are told that we are consumers and entrepreneurs. What has come to be called neoliberalism is not only a theory of market relations; it is a theory of human relations. Friendship in an Age of Economics both describes and confronts this new reality. It confronts it on some familiar terrain: that of friendship. Friendship, particularly close or deep friendship, resists categorization into economic terms. In a sustained investigation of friendship, this book shows how friendship offers an alternative to neoliberal relationships and can help lay the groundwork for resistance to it.

This important new book is the first specific study on the classical theory of wages to appear for more than 50 years and as such fills an important gap in the literature. Antonella Stirati argues that the wage-fund theory played no part in the theory of wages expounded by Ricardo and his predecessors. Classical wage theory is shown to be analytically consistent but very different from contemporary theory, particularly as it did not envisage an inverse relationship between employment and the real wage level, and hence a spontaneous tendency to full employment of labour. The author bases her approach not only on a reinterpretation of Smith and Ricardo, but also on the writings of Turgot, Necker, Steuart, Hume, Cantillon and other pre-classical economists. Historians of economic thought as well as other economists will welcome Dr Stirati's careful analysis of classical writings on economics which includes simple but rigorous explanations of phenomena, central to current economic debate, such as the occurrence of persistent unemployment.

This book discusses Public-Private Partnerships (PPPs) and their potential to protect and maintain critical infrastructure in a variety of global governmental settings. Critical infrastructure is defined as essential services that underpin and support the backbone of a nation's economy, security, and health. These services include the power used by homes and businesses, drinking water, transportation, stores and shops, and communications. As governmental budgets dwindle, the maintenance of critical infrastructure and the delivery of its related services are often strained. PPPs have the potential to fill the void between government accounting and capital budgeting. This volume provides a survey of PPPs in critical infrastructure, combining theory and case studies to provide a comprehensive view of possible applications. Written by a diverse group of international experts, the chapters detail PPPs across industries such as transportation, social infrastructure, healthcare, emergency services, and water across municipalities from the US to New Zealand to Hong Kong. Chapters discuss objectives and legal requirements associated with PPPs, the potential advantages and limitations of PPPs, and provide guidance as to how to structure a successful PPP for infrastructure investment. This book is of interest to researchers studying public administration, public finance, and infrastructure as well as practitioners and decision makers interested in instituting PPPs in their communities.

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 major work provides an assessment of Adolf Lowe's work and explores areas for future research in relation to his important contribution to economics, in particular his belief that economics is inseparable from social inquiry.The book opens with an overall evaluation of Lowe as a perceptive historical, political and sociological observer, presented through a number of personal recollections by Robert Heilbroner, Claus-Dieter Krohn and Marion Countess Donhoff. They analyse Lowe's intellectual and socio-political development during the Weimar Republic and how this period influenced some of his later works. The second part assesses Lowe's major contribution to the development of business cycle theory, and the roots of his analysis of structural and economic change. The book also examines Lowe's pioneering work in the field of traverse analysis. It concludes with a discussion of Lowe as 'economic philosopher' and his concern with the extent to which contemporary Western societies can balance the conflict between freedom and order.

Hunting Down Social Darwinism is the third and final installment in the trilogy, The Nature of Liberty. The trilogy gives a secular, ethical defense of laissez-faire capitalism, inspired by Ayn Rand's ideas. The trilogy's first book, The Freedom of Peaceful Action, provided the philosophic theory behind the ethics of a free-enterprise system based on the individual rights to life, liberty, and private property which John Locke described. The second installment, Life in the Market Ecosystem, explained how free enterprise functions much as a natural ecosystem wherein behavioral norms develop, bottom-up, from repeat interactions among individual participants in the economy. As such defenses of free enterprise are frequently criticized as "social Darwinism," however, this third and final installment of the trilogy asks the question, "What is social Darwinism?" The book embarks on a hunt for the term's meaning, explores social Darwinism's beginnings, and examines whether it is fair to describe such nineteenth-century free-market advocates as Herbert Spencer and William Graham Sumner as social Darwinists. It then addresses the accusation that the free-market Darwinism commonly ascribed to Spencer and Sumner rationalized bigotry and founded the pseudoscience of eugenics. In the process, the book refutes various myths about the topic popularized by such scholars as Richard Hofstadter and John Kenneth Galbraith. The extent to which the popular narratives about social Darwinism prove to be inaccurate holds enormous ramifications for current controversies. It has implications for debates over the ethical appropriateness of reducing taxpayer spending on social welfare programs, and also sheds new light on the pros and cons of attempts to apply biological evolutionary theory to the study of human social institutions. Additionally discussed is the manner in which various prominent figures in economics, evolutionary psychology, and Complexity Theory have grown famous for advancing ideas which Spencer and Sumner originated, even as such figures simultaneously downplay the importance of Spencer and Sumner to their field. Following the hunt for social Darwinism, this work sums up the trilogy with some final thoughts on the importance that liberty holds for every effort to live life to the fullest.

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.

Economics is full of puzzles and paradoxes that often frustrate and challenge everyone, including economists. This engaging book includes fifty puzzles and focuses on three types of paradox. First, everyday observations that appear to belie common sense (such as, why do some supermarket items sell for more per ounce in larger sizes?). Secondly, those paradoxes which have perplexed economists in the past but have since been fairly resolved (such as, the diamond-water paradox). Finally, empirical or conceptual anomalies that remain unresolved and present a challenge to today's economists (such as the voting paradox).Fifty puzzles and paradoxes are analysed in a clear framework. Examples include: the fairness of market wages, the alleged gold absurdity, Giffin goods and the Irish potato famine, the paradox of thrift, the supposed perversity of Wall Street, the leisure paradox, why the best Washington apples are shipped out of state (the Alchian-Allen theorem), the question of whether teachers are underpaid, whether studying economics makes people immoral and whether war is good for the economy. This original and unusual book will have a wide appeal, ranging from the lay person with an interest in everyday economic puzzles, to the student and teacher wishing to develop their understanding of some of the paradoxes that have existed and continue to exist in economics. It will serve as an ideal source for teachers who want to challenge their students with unusual economic problems.

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.

Mark Blaug has with good reason been described as the most widely read economist of his generation. He has made important contributions to economic history, cultural economics, the history of economic thought, the methodology of economics and the economics of education.Not Only an Economist reflects the wide range of Professor Blaug's interests and includes new and recent work on Adam Smith, Hayek and Keynes and studies in methodology, as well as new contributions to the economics of education. These are supplemented by essays arguing the economic case for subsidies to the arts. The book concludes with a selection from the one hundred book reviews that he has written over the years.

The Economic Theory of Socialism and the Labour-Managed Firm focuses on market socialism and the relevant debate among economic theorists. It argues that market socialism is the only rational form of socialism and that market socialism with labour-managed firms is by far the best form of market socialism. The book begins with a critical review of the contributions to the economic theory of socialism. The second part discusses the economic theory of labour-managed firms and pays particular attention to the adverse labour-supply curve, underinvestment, monitoring and the separation of ownership and control. The final chapters discuss problems such as the control of economic activity in labour-managed firms, worker motivation and incentives. This book will be of particular use to students and academics interested in comparative economic systems and to specialists in politics and sociology with an interest in alternative forms of economic organization.

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.

Economic methodologists have traditionally paid very little attention to heterodox economic theories. In this major new book three leading heterodox scholars respond to the influential appraisals of Sraffian, Radical and Marxian economics made by Mark Blaug, the eminent economic methodologist.Heterodox Economic Theories begins with a paper by Ian Steedman on Sraffian economics and the capital controversy. This is followed by papers on radical economics by Michael Reich and Marx's economic analysis by Fred Moseley. Professor Moseley has also written an extensive introduction to the work featured in this volume. Including replies by Mark Blaug and comments by a distinguished group of economic methodologists, this book offers a stimulating debate between heterodox and mainstream economists over the value of three important economic traditions and over the most appropriate methodology for the appraisal of economic theories.

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.

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.

Beyond Neoclassical Economics is a remarkable introduction to the main heterodox schools of economic thought which examines their main concepts and their critiques of mainstream theory.Offering a wide spectrum of theory and viewpoints that both complement and challenge mainstream and conventional thought, this substantial volume explores schools of thought and traditions poorly covered in most conventional economics textbooks. The schools presented include Austrian economics, Geo-economics, the Virginia School of Political Economy, Institutional economics, Feminist economics, Humanist economics and Non-determinist Marxism. The papers in this volume have been prepared by leading scholars who offer new perspectives on conventional thought, as well as dialogue and commentary between their different approaches to economics. The aim of this major book is not only to understand the thought, methodology, and approach of various economic schools, but also to explain why there are different approaches to economics and how the different schools relate to one another.