This book examines the effectiveness of trade and non-trade policies to combat the menace of child labour. Although it has decreased on the global scale in recent years, child labour still remains high, particularly in the developing countries. Keeping in mind the estimated extent of child labour in different regions around the globe, the book offers a detailed critical review of both theoretical and empirical literature on the topic as well as the policies to reduce the incidence of child labour. It also develops a general equilibrium model to demonstrate the possible effects of growth-promoting, non-trade policies, as opposed to direct trade policies, on child labour employment mitigation. The book argues that of the non-trade policies, the introduction of compulsory education appears to be an effective instrument for curtailing the child labour problem when families receive targeted subsidies for sending their children to school. It also shows that appropriately designed and targeted education subsidies can reduce the incidence of child labour and that social protection measures, such as subsidies on school enrolment, also tend to have a positive impact. The book not only opens up research topics for academicians but is also a valuable resource for policy makers.

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.

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.

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.

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.

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.

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.

This volume presents new methods and applications in longitudinal data estimation methodology in applied economic. Featuring selected papers from the 2020 the International Conference on Applied Economics (ICOAE 2020) held virtually due to the corona virus pandemic, this book examines interdisciplinary topics such as financial economics, international economics, agricultural economics, marketing and management. Country specific case studies are also featured.

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.

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.

Debt, private and public, and in particular excessive debt, has been debated to be one of the root causes of economic crises. At the same time, economic crises are believed to lead to an increase of debt. This book, through a range of contributors, explores certain constituents of an economy and attempts to identify their contribution to debt (public and private), especially in times of crisis; namely, bonds, tariffs, social security and non-performing loans (NPLs). Furthermore, it captures the (implicit) impact of the demography on debt through tariffs and social security and investigates the effect of quantitative easing/purchase programs and as well as crises on debt. In addition, the (cost of the) reserve that a state may want to provision for, in order to secure its economy from defaulting within a certain time horizon, is also addressed and calculated. This calculation offers an alternative valuation, or pricing, of (excess) debt (default protection). This book aims to offer a comparative study of countries - especially those with a history of excessive debt - and intends to realize whether an economic crisis can genuinely deteriorate debt, or whether the debt unsustainability is preexisting to the crisis. It will be relevant to students and researchers interested in economic policy and growth.

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.

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 the first extensive treatment from a modern Austrian perspective of the history of economic thought up to Adam Smith and as such takes into account the profound influence of religious, social and political thought upon economics. In Economic Thought before Adam Smith, Murray Rothbard contends that laissez-faire liberalism and economic thought itself began with the Catholic scholastics and early Roman and canon law, rather than with Adam Smith. The scholastics, he argues, established and developed the subjective utility and scarcity theory of value, as well as the theory that prices, or the value of money, depend on its supply and demand. This continental, or 'pre-Austrian' tradition, was destroyed, rather than developed, by Adam Smith whose strong Calvinist tendencies towards glorifying labour, toil and thrift is contrasted with the emphasis in Scholastic economic thought towards labour in the service of consumption. Tracing economic thought from the Greeks to the Scottish Enlightenment, this book is notable for its inclusion of all the important figures in each school of thought with their theories assessed in historical context. Classical Economics, the second volume of Professor Rothbard's history of economic thought from an Austrian perspective, is also available.

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.

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 book presents the state of the art in the relatively new field of dynamic economic modelling with regime switches. The contributions, written by prominent scholars in the field, focus on dynamic decision problems with regime changes in underlying dynamics or objectives. Such changes can be externally driven or internally induced by decisions. Utilising the most advanced mathematical methods in optimal control and dynamic game theory, the authors address a broad range of topics, including capital accumulation, innovations, financial decisions, population economics, environmental and resource economics, institutional change and the dynamics of addiction. Given its scope, the book will appeal to all scholars interested in mathematical and quantitative economics.

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.

This book investigates how paid care work and employment are being transformed by policies of social care individualisation in the context of new gig economies of care. Drawing on a case study of the creation of a new individualised care market under Australia's National Disability Insurance Scheme the book provides important insights into possible futures for social care employment where care is treated as an individual consumer service. Bringing together sociological, political science and socio-legal approaches the book demonstrates how, in individualised care markets and with ineffective labour laws, risks of business and employment are devolved to frontline care workers. The book argues for an urgent re-evaluation of current policy approaches to care and for new regulatory approaches to protect workers in diverse forms of employment.

American Economists of the Late Twentieth Century is a collection of essays on the work of 22 contemporary US economists. The essays summarize, place in perspective and appraise the work of a diverse array of accomplished scholars whose writings respresent the best, the most promising and the most innovative in the US. The economists whose work is discussed include Samuel Bowles and Herbert Gintis, Paul Davidson, Nancy Folbre, Robert H. Frank, Robert Heilbroner, David Kahneman and Amos Tversky, Paul Krugman, William Lazonick, Gregg Lewis, Richard R. Nelson and Sidney G. Winter, Mancur Olson, Nathan Rosenberg, Thomas Schelling, Vernon Smith, Robert A. Solo, Joseph Stiglitz, Richard Thaler, Lester Thurow and Oliver E. Williamson. The emphasis of the collection is on both the quality and diversity of the work - of different ways of doing economics as it is presently practised. Warren J. Samuels has brought together a series of original essays written by economists who are distinguished in their own right. Historians of economic thought, methodologists, general economists and specialists in the fields represented by the subjects will welcome American Economists of the Late Twentieth Century as a significant contribution to our understanding of contemporary American economic scholarship.

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.