The rapid development of a series of technologically advanced, industrial economies in the post-war period has challenged conventional understandings of economic growth. The emergence of these economies has reinvigorated the long-standing debate about why some countries grow quickly, and reach high levels of productivity, while others fall behind. Until the emergence of the new growth theory, few neoclassical economists focused upon this important issue despite the existence of a rich tradition among economic historians and economists from more heterodox traditions. The Dynamics of Technology, Trade and Growth draws upon contributions of scholars from different theoretical backgrounds to discuss why economies succeed, or fail, in creating the infrastructure, finance and technology to develop rapidly and 'catch-up' with others. After an overview by the editors of theoretical and practical developments in the economics of convergence and divergence, the book features chapters which discuss the origins of the post-war catch-up and convergence boom, convergence in trade and sectoral growth, capital accumulation, investment and resource allocation, specialization, technological change, and the potential contribution of information and communication technologies. The distinguished contributors bring together in one volume a breadth of scholarship on economic growth, convergence and divergence, ensuring that this book will be widely read by economists interested in growth, technical change and economic development.

Economic Theory and Capitalist Society is a collection of Shigeto Tsuru's most important essays written over the period of the past 60 years in the fields of general economic theory, development and environmental economics, and Marxian political economy. Professor Tsuru has been a leading critic of the major tenets of modern economic theory and has been credited in particular for his comparative studies of aggregate concepts, such as those of Quesnay, Keynes and Marx. Essentially an institutionalist, the author reviews the methodological significance of Marx's contribution, taking up in detail the latter's unique concept of the 'fetishism of commodities' and discussing the relevance of Marxian methodology to the analysis of present-day capitalism. The author's critique of the fundamental equation of growth accounting developed by Robert Solow, 'Effects of Technology on Productivity', is one of a number of theoretical papers included in this volume. It also features a series of important essays on environmental economics which the author, as a founder of the Japanese environmental movement, has written over the past half century. This collection of key articles by one of the most distinguished Japanese economists will be welcomed by students and practitioners in the fields of institutional and radical economics, environmental economics and the history of economic thought. The volume also includes an autobiographical essay which explains the development of Professor Tsuru's thought, his education at Harvard in the 1930s and his experience of post-war Japan. The Economic Development of Modern Japan, the second volume of Shigeto Tsuru's selected essays, is also published by Edward Elgar.

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.

America's first celebrated economist-developer of the Fisher equation, the Fisher hypothesis, and the Fisher separation theorem-offers here a rational foundation for the most fundamental of concepts behind the modern economics: capital and income. This 1906 textbooks explores such ideas as. . the difference between wealth and property rights . why one bankruptcy leads to another . the difficulties of defining income . the "premium" and "price" concepts of interest . risk in the economic arena . and much more.

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.

Patrick Minford has been a close adviser to Mrs Thatcher during the last decade. He has made an important contribution to the ideas of Thatcherism and Britain's monetarist/supply side programme in the 1980s.This book brings together, for the first time, essays written as a contribution to the supply side revolution in Britain. Some focus on monetary and fiscal policy, while others deal with the principles and mechanisms for supply side reform. Taken together, they represent an invaluable source book and reference point on the political philosophy and economic strategy of the Thatcher era. The essays were all written for a wide audience and will be essential reading for both economists and non-economists alike.

Patrick Minford has been a close adviser to Mrs Thatcher during the last decade. He has made an important contribution to the ideas of Thatcherism and Britain's monetarist/supply side programme in the 1980s.This book brings together, for the first time, essays written as a contribution to the supply side revolution in Britain. Some focus on monetary and fiscal policy, while others deal with the principles and mechanisms for supply side reform. Taken together, they represent an invaluable source book and reference point on the political philosophy and economic strategy of the Thatcher era. The essays were all written for a wide audience and will be essential reading for both economists and non-economists alike.

Herbert Giersch's contribution to economics has ranged widely over international economics, European integration and the economics of entrepreneurship. This book presents in one volume a selection of some of his most important essays and papers. It encompasses the gradual evolution of his work from its beginnings to his most recent contributions to the debate on the future of the European Economic Community. It contains some of his most significant work during the last 30 years and includes material that is not widely available. It will be an essential reference point for all economists concerned with entrepreneurship, the world economy and Europe.

The Beginnings of Behavioral Economics: Katona, Simon, and Leibenstein's X-Efficiency Theory explores the mid-20th century roots of behavioral economics, placing the origin of this now-dominant approach to economic theory many years before the groundbreaking 1979 work on prospect theory by Daniel Kahneman and Amos Tversky. It discusses the work of Harvey Leibenstein, Herbert Simon, George Katona, and Frederick Hayek, reintroducing their contributions as founding pillars of the behavioral approach. It concentrates on the work of Leibenstein, reviewing his nuanced introduction of X-efficiency theory. Building from these foundations, the work explores the body of empirical research on market power and firm behavior - XE relationship. This book is a tremendous resource for graduate students and early career researchers in behavioral economics, experimental economics, organizational economics, social and organizational psychology, labor market economics and public policy.

The history of economics comprises the accumulated capital of the discipline; its study permits both the retrieval of important ideas and the conduct of analysis which places present day work in context. The essays in this book demonstrate some of the variety of uses to which the history of economics, as a sub-discipline, can be put.Economic Thought and Discourse in the 20th Century commences with an essay on John R. Hicks, one of the leading economic theorists of the twentieth century and a writer with much to say about the nature of economic theory and the functions of the history of economic thought. An essay on Thorstein Veblen examines a figure who is at once both idiosyncratic and monumental, and whose work on war and peace is seen both to have been deeply prescient at the time it was written, and to be critically relevant at the close of the twentieth century. The third piece in this collection is a study of the discursive and interpretative structure of Alfred Marshall's Principles of Economics. More than a century after its publication, the Principles is widely regarded as one of the most important, and immediately influential, works of economic science ever written. Yet, it is argued, Marshall's use of language and argument may well have been equal in importance to the analytical techniques which he demonstrated. The concluding essay on the early journal history of law and economics places in perspective much of the contemporary work in this area and suggests that more could be expected from a field with such a rich and suggestive history. These essays will make significant contributions both to their respective subjects and to the historiography of economics.

This examination of transport economics brings alive economic theories for students, elucidating traditional concepts by applying them to a real world context. It examines the microeconomic concepts that underpin this sector and the implications for transport markets with real examples from across the EU. Also available is a companion website with extra features to accompany the text, please take a look by clicking below - http://www.palgrave.com/economics/transport/Home.aspx

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.

'Kurz and Salvadori have done researchers on Ricardo a great service with their compilation of these essays.' - EH.Net 'Do we have to know today what Ricardo wrote two hundred years ago? Can we still learn from him? Of course, we can! The book edited by Heinz D. Kurz and Neri Salvadori provides highly instructive insights into the work and importance of David Ricardo, the ''economists' economist'', as Paul Samuelson dubbed him.' - Frankfurter Allgemeine Zeitung Arguably one of the most important economists who has lived, Ricardo's impact on the economics profession is immense. This unique and comprehensive Companion elucidates his significance and continuing legacy. Ricardo made major contributions to all fields of the subject, from monetary issues to value and income distribution, from capital accumulation, technical progress and economic growth to foreign trade and international specialization, and from taxes to public debt. What he called the main problem of political economy, the distribution of income and wealth, is again back on the political and economic agenda with a vengeance. Leading experts in the field explore his influence and offer novel interpretations of received doctrines. The concise yet comprehensive entries are arranged alphabetically for ease of use with cross references and suggestions for further reading. The Companion will serve as the standard reference work for all those engaged in the field of classical economics. It will also be essential reading for scholars and researchers interested in the history of economic thought, macroeconomics and political economy. Contributors include: R. Arena, T. Aspromourgos, M.S. Asslander, R.E. Backhouse, I. Barens, E. Bellino, C. Bidard, S. Blankenburg, C. Casarosa, R. Ciccone, S. Cremaschi, M. Dardi, G. Deleplace, T. Dome, G. Erreygers, G. Faccarello, R. Faucci, D. Fiaschi, S. Fratini, G. Freni, C. Gehrke, A.F. Gilbert, G. Gilibert, P. Groenewegen, D. Haas, H. Hagemann, A. Heertje, J.E. King, H. Klausinger, H.D. Kurz, A. Maneschi, M.C. Marcuzzo, F. Meacci, M. Milgate, G. Mongiovi, F. Moseley, D.P.O'Brien, A. Opocher, A. Palumbo, S. Parrinello, C. Perrotta, M. Pivetti, P.L. Porta, A. Quadrio Curzio, S.A.T. Rizvi, A. Rosselli, C. Rotondi, N. Salvadori, R. Signorino, N. Sigot, M. Smith, A. Stirati, R. Sturn, P. Trabucchi, H.-M. Trautwein, P. Tubaro, K. Watarai

Despite its often mismanaged economy, Africa remains the third largest continent in land mass and population. It continues to offer unexploited business opportunities for entrepreneurs, global corporations, and institutions. Emerging Business Opportunities in Africa: Market Entry, Competitive Strategy, and the Promotion of Foreign Direct Investments presents the basic business modelling for developing appropriate strategies in exploiting these business opportunities in the emerging economy in Africa. This book offers insight into the challenges and successes aiming to encourage researchers and students of business in creating a value for doing business in Africa.

Monetarism and the Methodology of Economics is a collection of 14 original essays in honour of Thomas Mayer focusing on the themes of monetarism, the transmission mechanism for monetary policy, the political economy of monetary policy and the methodology of empirical economics.This volume addresses the many areas where Thomas Mayer has made a major contribution and brings together a distinguished group of contributors including King Banaian, Mark Blaug, Martin Bronfenbrenner, Richard C.K. Burdekin, Thomas F. Cargill, Milton Friedman, C.A.E. Goodhart, D. Wade Hands, Abraham Hirsch, Kevin D. Hoover, David Laidler, Thomas Mayer, James L. Pierce, Steven M. Sheffrin, Richard J. Sweeney, Thomas D. Willett, Wing Thye Woo. An autobiographical essay by Thomas Mayer and a short appreciation by Kevin Hoover and Steven Sheffrin are included in this volume, together with a bibliography of Mayer's economic writings.

Providing an in-depth case study on the emergence of social impact investing in the UK, this book develops a new perspective on financialization processes that highlights the roles of non-financial actors. In contrast to the common view that impact investing gears finance toward the solution of social problems, the author analyzes how these investments create new problems and inequalities. To explain how social impact investing became popular in British social policy despite its unclear effectiveness, the author focuses on cooperative relations between institutional entrepreneurs from finance and various non-financial actors. Drawing on field theory, he shows how seemingly unrelated social transformations - such as HM Treasury's expanding role in public service reform - may act as resonance spaces for the spread of finance. Opening up a new perspective on financialization processes in the terrain of public policy, this book invites readers to refocus scholarship on capitalist dynamics to the meso-level. Based on this analysis, the author also proposes ways to transform social impact investing to increase its potential for reducing global inequalities.

This volume includes essays by prominent economists and psychologists working at the frontiers of economic psychology. A number of essays probe beliefs and expectations about rationality, consumer behaviour and expectations, and others assess psychological explanations of economic behaviour and the contribution of experimental economics. The book should be essential reading for both psychologists and economists with an interest in the most recent research in economic psychology.

This engaging and intelligent book provides an accessible, down to earth assessment of the role of formalism and rigour in economics.Professor Mayer argues that there is room in economics for both highly formalised theory and for the less formal theory that predominates in the natural sciences. But economists generally fail to distinguish between these two types of theory. As a result, they often act as if the strength of an argument depends on the strength of its strongest link. They misallocate effort, polishing those parts of the argument that tend to be formalised, while paying insufficient attention to the others. Drawing on public choice theory, Mayer shows how this emphasis on the strongest link has distorted research particularly in new classical theory. He advocates stricter econometric testing, showing that many procedures currently used are only soft tests.

Technical change and its relationship to economic growth are now at the forefront of research in economics. This important book - which contains contributions from leading economists - provides an invaluable state-of-the-art survey and analysis of the most recent work in this area. The book sheds new light on such major themes and issues as: the sources of technological knowledge and growth and time patterns in the growth and innovation process. It also addresses the role of national institutions and social infrastructure in growth, convergence and divergence in the world economy from both the modelling and the empirical perspectives, and the microfoundations of technology diffusion and learning by doing.The Economics of Growth and Technical Change will be essential reading for all economists with an interest in the economics of innovation and economic growth.

This unique troika of Handbooks provide indispensable coverage of the history of economic analysis. Edited by two of the foremost academics in the field, they gather together insightful and original contributions from scholars across the world. The encyclopaedic breadth and scope of the original entries will make these Handbooks an invaluable source of knowledge for all serious students and scholars of the history of economic thought. Each Handbook can be read individually and acts as a self-contained volume in its own right. They can be purchased separately or as part of a three-volume set. Volume III contains entries on the development of major fields in economics from the inception of systematic analysis until modern times. The reader is provided with succinct summary accounts of the main problems, the methods used and the results obtained across time. The emphasis is on both the continuity and major changes that have occurred in the economic analysis of problematic issues such as economic growth, income distribution, employment, inflation, business cycles and financial instability. Contributors: M. Assous, A. Baccini, Jr., A. Baujard, E. Bertrand, M. Boumans, J.L. Cardoso, M. Dal Pont-Legrand, J. De Boyer Des Roches, M. De Vroey, S. Di Rizzello, S. Diatkine, K. Dopfer, A.K. Dutt, R. Ege, G. Erreygers, D. Foley, R. Gomez Betancourt, D. Haas, H. Hagemann, E. Hosoda, H. Igersheim, A. Kirman, J. Kleinert, H. Kliemt, H.D. Kurz, R. Leonard, P. Malgrange, A. Maneschi, P. Mehrling, S. Mohun, M. Mosca, S. Noto, A. Opocher, N. Palan, F. Petri, A. Rainer, S. Rizzello, J.B. Rosser, M. Salles, N. Salvadori, M. Schutz, R. Signorino, A. Spada, P. Steiner, A. Stirati, R. Strohmaier, R. Sturn, C. Sunna, J.-F. Thisse, P. Tubaro, K. Watarai

College cost per student has been on the rise at a pace that matches ? or exceeds ? healthcare costs. Unlike healthcare, though, teaching quality has declined, and rapidly rising costs and declining quality are not trends easily forgiven by society. The College Cost Disease addresses these problems, providing a behavioral framework for the chronic cost/quality consequences with which higher education is fraught. Providing many compelling insights into the issues plaguing higher education, Robert Martin expounds upon H.R. Bowen?s revenue theory of cost by detailing experience good theory, the principal/agent problem, and non-profit status. Reputation competition dominates higher education. Students and their parents, and public opinion in general, associate higher tuition with higher quality and greater accolades; price is used as a proxy for quality only when consumers are uncertain about quality prior to purchase. Higher education services are the most complex types of ?experience goods?; a service whose quality can only be determined after a purchase has been made. Applying formal economic theory to higher education, Robert Martin examines how and why attempts to control costs are controversial and the damaging effects these controversies have on institutions? reputations. Arguing that the college access problem cannot be solved until colleges and universities find a way to control their costs, this book brings to the fore the leading ideas that will bring about much-needed budgetary reform in higher education.Governing boards, administrators and faculty members should find much to think on and learn from here; parents, students, alumni and taxpayers will find the research and conclusions alarming, though eye-opening.