'While market activity and political activity are often analyzed independently of each other, Wagner demonstrates their interdependence. His novel analysis shows that politics has a level of complexity well beyond the way it is typically depicted in the social sciences, and shows that political activity has more in common with market activity than is commonly recognized. The book offers a wide range of insights and pushes readers to take a more nuanced view of politics.' - Randall G. Holcombe, Florida State University, US Economists typically treat government as something outside the business realm, a sort of 'Lord of the Manor'. Richard Wagner argues that this is the wrong approach and can ultimately be destructive to capitalism and to society. Modern governments are a peculiar form of business enterprise. They face the same problems as regular businesses, such as ascertaining demand and organizing production, and act within the system in a way that can lead to a parasitical relationship with the market. Largely rooted in political economy, this book develops new theoretical ideas and formulations to explain why democracy is a difficult form of government to maintain. The author explores how and why limited governments can morph into a system of destructive politics, and looks at ways to escape this process. This dynamic book will be useful for public choice scholars, economists, political scientists, and lawyers who are interested in political economy in its various guises.

Freedom Mazwi examines patterns of agricultural finance in Zimbabwe since the radical Fast Track Land Resettlement Programme (FTLRP) was implemented in 2000-and, especially, the varying impact that the FTLRP reforms have had not only on land use, but also on the well-being of farmers.Focusing on contract farming in the tobacco and sugarcane sectors, Mazwi offers penetrating insights into social contradictions and power relations in Zimbabwe's rural areas. He also assesses the institutional finance mechanisms that have emerged in response to the radical land reforms and reflects on the related political and economic isolation of the country since 2000. Not least, he suggests how agrarian policy could be restructured to better benefit small-scale farmers.

A comprehensive guide to the essential relationship between markets and morals. Smith, Burke and Marx, Durkheim, Polyani and Hayek all sought to situate market exchange and property-based acquisitiveness in the broader context of human interaction and social values. This framework of interdependence and ethics embeds the capitalist market economy in an ongoing whole of which the calculative present day is but a part. The author of this work argues that the stability of conservatism anchors the dynamism of entrepreneurship in a matrix of patterns and habits without which orderly free enterprise would be at risk of degenerating into the Hobbesian war of each against all.

Implementation of technology into social and economic developments have provided key strengths in improving competitiveness and meeting the demands of modern society for life and the economy; including adapting to green development as a means to confront the economic crisis. E-Innovation for Sustainable Development of Rural Resources During Global Economic Crisis brings together a multidisciplinary exchange of knowledge on the application of electronic and mobile innovations towards the sustainable development of the economy. Providing an opportunity to identify effective e-innovation and successful practices, this book is essential for researchers, students, rural developers, and academics in the fields of economics, sustainable development, informatics, and the environment.

'Bainbridge and Henderson have given us one of the most important books on one of the most important contemporary legal issues, the liability of individual and corporate shareholders for corporate debts. There is no issue in corporate law more subject to uncertainty and no issue more likely to be litigated. No single book has ever attempted, much less carried off, the complete historical, international, economic and legal theoretical exegesis of limited liability, which these two authors do with range, depth, confidence and even a bit of panache. This monograph, of crucial interest both to scholars and practitioners, will become an instant classic and an immediate authority.' Stephen B. Presser, Northwestern University and the author of Piercing the Corporate Veil The modern corporation has become central to our society. The key feature of the corporation that makes it such an attractive form of human collaboration is its limited liability. This book explores how allowing those who form the corporation to limit their downside risk and personal liability to only the amount they invest allows for more risks to be taken at a lower cost. This comprehensive economic analysis of the policy debate surrounding the laws governing limited liability examines limited it not only in an American context, but internationally, as the authors consider issues of limited liability in Britain, Europe and Asia. Stephen Bainbridge and M. Todd Henderson begin with an exploration of the history and theory of limited liability, delve into an extended analysis of corporate veil piercing and related doctrines, and conclude with thoughts on possible future reforms. Limited liability in unincorporated entities, reverse veil piercing and enterprise liability are also addressed. This comprehensive book will be of great interest to students and scholars of corporate law. The book will also be an invaluable resource for judges and practitioners.

In this potentially controversial book, Berch Berberoglu argues that the internationalization of U.S. capital via worldwide expansion of U.S. transnational monopolies has led to the decline of the U.S. domestic economy--bringing about class polarization between labor and capital. The process of decline and polarization was accelerated during the 1980s under the Reagan administration, when a major transfer of wealth from the working class to the wealthy owners of the transnational corporations ushered in a period of irreversible decline and decay. This incisive volume untangles the complex web of social-economic connections that are, at their base, the manifestations of relations of production, distribution, and exchange.

Following a theoretical chapter which outlines the liberal, world system, and class analysis approaches--the three major positions on the rise and fall of global empires--Berberoglu provides an empirical account of the position of the United States in the world political economy in the postwar period. While the bulk of the middle chapters examines this decline and its consequences for the working people of the United States, subsequent chapters address the response of the state and of the labor movement to the social and economic crisis. This highly informative book contains the latest data presented in tables and charts that draw out the most critical elements in the economic and social trends evolving in the United States, and stands alone in its provocative treatment of the current crisis of U.S. capitalism.

George offers a direct and powerful challenge to the fatal shortcomings of virtually all currently dominant economic paradigms, including those of capitalism, socialism, communism, and so-called mixed economies. The alternative socioeconomic democracy, and advanced theoretical model in which there is some form of universal guaranteed income as well as a limit to maximum allowable personal wealth, combined with a realistic degree of human flexibility based on public choice theory. Arguing that such a procedure would allow a society to democratically control the extreme limits of material wealth and poverty, the author forecasts that such a system will create strong economic incentives while reducing the present undesirable and expensive social problems associated with the maldistribution of wealth. This innovative book will be of interest to scholars and others interested in exploring ways to strengthen democracy while improving economic systems around the world.

One of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith explores, in the three-volume National System of Political Economy, a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. Volume 3 explores the economic and political systems that nurture ascendant nations in their global sovereignty. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T bingen, but was later jailed and later exiled to America for his political views. His is also the author of Outlines of American Political Economy (1827).

This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.

Sustainable development is necessary to counteract and mitigate the impact of socially harmful forces in a globalized world. However, sustainable development and its organizations must ensure the effective management of their funds and beneficial financial frameworks in order to best realize their sustainable goals. There is a need for studies that seek to understand how to connect sustainable development and the financial world in order to maximize the economic and environmental wellbeing of the world. Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets is a pivotal reference source that examines the funding and monetary utilization of environmental and socially-responsible entities. Featuring research on topics such as green taxes, intergenerational equity, and shadow economy, this book is ideally designed for government officials, policymakers, economists, financial managers, sustainability developers, and academicians seeking current research on the relationship between new sustainable financial phenomena and negative global externalities.

This unique work treats economic growth and development in terms of a theory which is applicable to an economy in the post-industrial, developing, and emerging stages. The author uses the theory to analyze and study the growth of an economy through these three stages of development within the framework of the business cycle in disequilibrium. This work has taken on special importance in light of the changing world situation, including the changes in the former Soviet Union, the peace process in the Middle East, and renewed concern for developing and emerging countries.

You Spend It. You Save It. You Never Have Enough of It. But how does money actually work? Understanding cash, currencies and the financial system is vital for making sense of what is going on in our world, especially now. Since the 2008 financial crisis, money has rarely been out of the headlines. Central banks have launched extraordinary policies, like quantitative easing or negative interest rates. New means of payment, like Bitcoin and Apple Pay, are changing how we interact with money and how governments and corporations keep track of our spending. Radical politicians in the US and UK are urging us to transform our financial system and make it the servant of social justice. And yet, if you stopped for a moment and asked yourself whether you really understand how it works, would you honestly be able to say 'yes'? In Money in One Lesson, Gavin Jackson, a lead writer for the Financial Times, specialising in economics, business and public policy, answers the most important questions to clarify for the reader what money is and how it shapes our societies. With brilliant storytelling, Jackson provides a basic understanding of the most important element of our everyday lives. Drawing on stories like the 1970s Irish Banking Strike to show what money actually is, and the Great Inflation of West Africa's cowrie shell money to explain how it keeps its value, Money in One Lesson demystifies the world of finance and explains how societies, both past and present, are forever entwined with monetary matters.

One of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith explores, in the three-volume National System of Political Economy, a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. In Volume 2, he delineates his theory of supportive interconnectedness, discussing everything from the value of the individual's ability to produce wealth to the edge established businesses have over new ones. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T bingen, but was later jailed and later exiled to America for his political views. His is also the author of Outlines of American Political Economy (1827).

This collection of original essays makes a unique contribution to both the radical and institutionalist economics literature by explicitly identifying and promoting the radical dimension of institutional economics. According to the authors (Young Turks in the institutionalist school), radical institutionalism studies show how resources and wants are created through social processes and advance the struggle for a better world through an ongoing dialogue about economic rights. This collection contains a number of new and important contributions from young institutionalists, including the first serious treatment of the origins and contributions of the Texas School of institutionalism. It also contains thorough discussions of the research agenda for institutional economics and an extensive dialogue between institutionalism and Marxism. The book opens with an explanation of the central concepts of radical institutionalism, a history of the seminal Texas School of Economics, and a discussion of the methodology of radical institutionalism. Other contributors critique institutionalism as a radical system of inquiry, extend institutionalism beyond its original American foundation, discuss the contemporary critical literature, and outline the usefulness of a continued dialogue between radical institutionalism and Marxism. This provocative collection will interest scholars of contemporary economic theory. It could also be used as a supplementary reader in courses on the history of economic thought and political economy.

One result of the Asian economic crisis has been to shatter the belief that Asian ways of management are superior to Western ways. Now, just to survive, Asian firms have come to rethink their entire way of managing, and in his latest book, Richter, assisted by his contributing authors, gives a sharply focused analysis of how they are doing it. Emerging questions are how do Asian firms adjust to the new economic realities? and How do they develop their management style?

There are plenty of new opportunities in Asia to play the new game, but they must be grasped and productively channeled. Richter and his contributors conclude that in the end, the Asian economic crisis, or catharsis, may well be a blessing in disguise. It provides an opportunity to completely review the way things stand in Asia. Like entrepreneurs who built the Asian economies, today's firms have the opportunity to lead a revival if they can redirect their businesses. This is an important resource for professionals in all multinational organizations and for academics and their upper-level students of international business.

At a time of rising global economic precarity and social inequality, the field of economic anthropology offers solutions through the study of local and contextualized economic practices. This book is made up of an exciting collection of succinct essays authored by leading scholars primarily from the field of economic anthropology, but also featuring contributions from sociology and history. The chapters engage with debates at the cutting edge of research on the topics of Eurasia, the anthropology of postsocialism and the embeddedness of economic practices.

As former Director of Research and a founding member of the Executive Board of the International Monetary Fund, Jacques J. Polak has advised theoreticians and policymakers worldwide. This collection brings together his most current writings, and is published under the auspices of the IMF. The hallmark of Dr. Polak's recent research has been his ability to draw on decades of personal experience and reflection to comprehend and describe the context for current policy debates. In the past decade, he has contributed much to the debates on international financial policy and the role of the IMF, and this volume brings together most of these recent papers to make them accessible to a broader audience.

One of the most prominent economic philosophers of the 19th century, on a par with-but espousing quite different thinking than-Karl Marx and Adam Smith explores, in the three-volume National System of Political Economy, a reasoned doctrine of national and pan-national management of trade, a global collaboration between government and business. Volume 1 examines the pronounced influence of freedom prudently balanced with regulation in the economic histories of the nations of Europe and North America. A close reading of this 1841 classic is an absolute necessity for anyone who hopes to understand world economic history of the last 150 years. German economist and journalist FRIEDRICH LIST (1789-1846) served as professor of administration and politics at the University of T bingen, but was later jailed and later exiled to America for his political views. His is also the author of Outlines of American Political Economy (1827).

This book presents the latest perspectives and challenges within the interrelated fields of econophysics and sociophysics, which have emerged from the application of statistical physics to economics and sociology. Economic and financial markets appear to be in a permanent state of flux. Billions of agents interact with each other, giving rise to complex dynamics of economic quantities at the micro and macro levels. With the availability of huge data sets, researchers can address questions at a much more granular level than was previously possible. Fundamental questions regarding the aggregation of actions and information and the coordination, complexity, and evolution of economic and financial networks are currently receiving much attention in the econophysics research agenda. In parallel, the sociophysics literature has focused on large-scale social data and their interrelations. In this book, leading researchers from different communities - economists, sociologists, financial analysts, mathematicians, physicists, statisticians, and others - report on their recent work and their analyses of economic and social behavior.

This proceedings volume explores the concept of civil society as an engine for economic and social well-being. Featuring contributions from the 2017 Griffiths School of Management and IT Annual Conference on Business, Entrepreneurship and Ethics (GMSAC) held in Oradea, Romania, this volume provides different perspectives, emerging studies and trends that are crucial to the further understanding of the interconnection of civil society, economic development and social stability. The enclosed contributions address key topics such as a) the ways in which national, regional and local governments are best equipped to support economic and social development, b) how government, business and non-profit sectors can support economic and social stability and c) the ways in which growing economies' active societies can strengthen civil society. Research and practice have proven that there is a great potential for civil society organizations to support socio-economic well-being, both directly and indirectly. As a result, the interplay between civil society, economics and social well-being is highly relevant to current business and economic research and is a topic of discussion by academics and practitioners in the government, business and non-profit sectors. This volume showcases some of the current research, cases and discussions in this area from an interdisciplinary, global perspective. Featuring contributions exploring timely subjects such as consumer behavior, the hospitality industry, education, corporate social responsibility (CSR), banking, health care, and semiotics, this book is appropriate for researchers, academics and policy makers in economic and social development, business ethics and sustainability.

This book examines the three historical master tales and questions their validity and relevance in today's moment of global disorientation and lack of convincing and dominant economic narrative. Investigating the ideological dimension and exploring the continued impact of Marx, Keynes and Hayek, the authors demonstrate how these three economic narratives became entangled over time and under increasing complexity, overlapping and competing with each other. The book reflects on the meaning of the historical legacy of the three narratives and investigates their significance today. All three outlined the prospects of a better and more economically efficient world with increased social justice, Magnusson and Strath argue that they constitute a legacy on which a new economic tale must be based, a legacy to draw on or confront. A concise and engaging work, this is an ideal resource for students and academics interested in economics, political science, history and global studies. A Brief History of Political Economy presents a powerful economic history of the last 170 years as a basis for economic reconsideration.

This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

Standard equilibrium economic models focus on interdependencies. In Out of Equilibrium, Amendola and Gaffard develop a theory also dealing with interdependencies, but based on disequilibria, which take the form of feedback mechanisms over time. The way in which these disequilibria interact sequentially determines the evolution path of an economy. As a result, different processes may be associated with any kind of original shock. Whereas in equilibrium models these processes are determined by the 'fundamentals' of the economy, here the outcome is heavily influenced by the processes themselves, the sequential decisions taken, and policies followed. The model proposed in this book is a heuristic tool that makes it possible to explore these `disequilibria'. By using it, economic phenomena and policy recommendations appear entirely different, and in most cases the interpretations made are diametrically opposite to those advocated by the dominant equilibrium theory, thus giving a new perspective on the recent past of the Western economies.