Challenging the view that managerialism is a form of capitalism and that capitalism has eclipsed socialism, Pena shows that the managerial or new class is an exploiting class. The work of Thorstein Veblen, James Burnham, John Kenneth Galbraith, and Kevin Phillips, he suggests, forms a little-known century-long tradition of reflection on the managerial revolution as well as on the conflux of values and socioeconomic practices that Pena dubs economic barbarism. Building on the work of these thinkers, he argues that industrial barbarism and the managerial revolution led to the decline of U.S. capitalism and its replacement by managerialism, a form of nationalistic socialism in which educated white-collar personnel employed by the state and corporate bureaucracies have become a new exploiting class that receives the bulk of the national wealth. Thus managerialism replaced industrial barbarism with a new form of economic barbarism.

This managerial barbarism has fostered an unequal distribution of wealth that has penalized the middle and lower classes with stagnant or declining incomes, growing job insecurity, unemployment, and underemployment. Unless managerialism can find a way out of persistent poverty and declining living-wage job opportunities, these problems are likely to continue afflicting a sizable portion of the population. If managers put an end to economic barbarism, they have a chance to create a society characterized by generalized prosperity, leisure, and opportunity. It is more likely, however, that economic barbarism will continue to be an integral part of managerialism and, consequently, managerialism will face a sudden social upheaval or a gradual decline.

This wide-ranging set of papers deals with crucial questions in economic theory, economic policy and economic history. The papers help explain why economic performance deteriorated dramatically in the West over the past three decades as the ''Golden Age'' of capitalism after World War II was replaced by global neoliberal capitalism. They show that theoretical frameworks rooted in the radical and heterodox traditions can explain this evolution and the current global economic and financial crisis, something mainstream theories cannot do. Topics include but are not limited to: methodology: a critique of ''positivism'' is used to explain why mainstream reliance on fairy-tale assumptions should be replaced by realistic assumption sets as argued by Marx and Keynes Marx, Keynes and Minsky on financial market instability versus mainstream theories of ''efficient'' financial markets how Keynes's assumption that the future is unknowable revolutionized not only macro theory but the micro theory of agent choice as well structural causes of the current global financial crisis how innovative theories of competition, globalization, capital investment and financialization inspired by Marx, Keynes and Schumpeter can be used to explain the crisis tendencies of neoliberal capitalism the influence of class conflict on economic policy, including in the current ''austerity'' regimes. The papers in this book should be of interest to most economists and can be used in both graduate and upper level undergraduate courses. Many of these papers are accessible to anyone who reads the business press.

This book presents a collection of papers illustrating the variety of "experimental" methodologies used to study voting. Experimental methods include laboratory experiments in the tradition of political psychology, laboratory experiments with monetary incentives, in the economic tradition, survey experiments (varying survey, question wording, framing or content), as well as various kinds of field experimentation. Topics include the behavior of voters (in particular turnout, vote choice, and strategic voting), the behavior of parties and candidates, and the comparison of electoral rules.

The book presents the lectures delivered during a short course held at Urbino University in summer 2015 on qualitative theory of dynamical systems, included in the activities of the COST Action IS1104 "The EU in the new economic complex geography: models, tools and policy evaluation". It provides a basic introduction to dynamical systems and optimal control both in continuous and discrete time, as well as some numerical methods and applications in economic modelling. Economic and social systems are intrinsically dynamic, characterized by interdependence, nonlinearity and complexity, and these features can only be approached using a qualitative analysis based on the study of invariant sets (equilibrium points, limit cycles and more complex attractors, together with the boundaries of their basins of attraction), which requires a trade-off between analytical, geometrical and numerical methods. Even though the early steps of the qualitative theory of dynamical systems have been in continuous time models, in economic and social modelling discrete time is often used to describe event-driven (often decision-driven) evolving systems. The book is written for Ph.D. and master's students, post-doctoral fellows, and researchers in economics or sociology, and it only assumes a basic knowledge of calculus. However it also suggests some more advanced topics.

Reciprocity is a pervasive type of social interaction in encounters, groups and organizations. Simple giving is one of the major ways of transferring goods. And others regarding social sentiments play crucial roles in the working and in the quality of society. This volume gathers basic works in the sujects's main domains such as, among others, the theory of reciprocity, the public economics of transfers, the economics of the family, charities, gifts of organs, or the motivations for gift giving.

This book provides a comprehensive overview, in the form of eight long essays, of the evolution of monetary theory over the three-quarters of century, from the time of Keynes to the present day. The essays are originally based on lecture notes from a graduate course on Advanced Monetary Economics offered at York University, Toronto, written in the style of academic papers. The essays are mathematical in method - but also take a historical perspective, tracing the evolution of monetary thought through the Keynesian model, the monetarist model, new classical model, etc, up to and including the neo-Wickesellian models of the early 21st century. The book will be an essential resource for both graduate and advanced undergraduate students in economics, as well as for individual researchers seeking basic information on the theoretical background of contemporary debates.

This cutting edge work offers an alternative perspective on existing paradigms of modernization and development that originated in the West from the vantage point of non-western, late-modernizing societies. It considers how East Asian philosophical ideas enrich the reformulation of the concept of development or societal development, and how influential principles of traditional culture such as yin-yang dialectic interact with modern ideas and technology. It addresses the significance of alternative discourses as culturally independent scholarship, and the problems of pervasive mechanisms of social, political, economic, and cultural dependence in the global academic world.

This volume grew out of a conference organized by James Alleman and Paul Rappoport, conducted on October 10, 2011 in Jackson Hole, Wyoming, in honor of the work of Lester D. Taylor, whose pioneering work in demand and market analysis has had profound implications on research across a wide spectrum of industries. In his Prologue, Eli M. Noam notes that demand analysis in the information sector must recognize the "public good" characteristics of media products and networks, while taking into account the effects of interdependent user behavior; the strong cross-elasticities in a market; as well as the phenomenon of supply creating its own demand. The second Prologue, by Timothy Tardiff and Daniel Levy, focuses more specifically on Taylor's body of work, in particular its practical applications and usefulness in analyses of, and practices within, the Information and Communications Technology (ICT) sector (known in Europe and elsewhere as the Telecommunications, Media, and Technology (TMT) sector). The remainder of the book is organized into four parts: Advances in Theory; Empirical Applications; Evidence-Based Policy Applications; and a final Conclusion. The book closes with an Appendix by Sharon Levin and Stanford Levin detailing Taylor's contributions using bibliometrics. Not only featuring chapters from distinguished scholars in economics, applied sciences, and technology, this volume includes two contributions directly from Lester Taylor, providing unique insight into economics from a lifetime in the field. "What a worthy book! Every applied researcher in communications encounters Lester Taylor's work. Many empirical exercises in communications can trace their roots to Taylor's pioneering research and his thoughtful leadership. This book assembles an impressive set of contributors and contributions to honor Taylor. No surprise, the collection extends far and wide into many of the core topics of communications and media markets. The emphasis is where it should be-on important and novel research questions informed by useful data. -Shane Greenstein, Professor of Management and Strategy, Kellogg School of Management, Northwestern University "For more than 40 years, Lester Taylor has been a leader in the application of consumer modeling, econometric techniques and microeconomic data to understand residential and business user behavior in telecommunications markets. During that time, he inspired a cadre of students and colleagues who applied this potent combination to address critical corporate and regulatory issues arising in the telecommunications sector. This volume collects the recent product of many of these same researchers and several other devotees who go beyond empirical analysis of fixed line service by extending Prof. Taylor's approach to the next wave of services and technologies. These contributions, including two new papers by Prof. Taylor, offer an opportunity for the next generation to learn from his work as it grapples with the pressing issues of consumer demand in the rapidly evolving digital economy." - Glenn Woroch, Adjunct Professor of Economics, University of California, Berkeley

This volume traces the evolution of the field of law and economics from its European roots to its neoclassical "Chicagoan" period to its current identity as a more fluid, transatlantic discipline. Paying special attention to the work of German economist Juergen Backhaus, who was instrumental in the reintroduction of the European perspective to the field, this book analyzes this gradual shift in the law and economics debate and provides a state-of-the-art of the literature currently being produced by the field's most active scholars. Beginning with a discussion of the history of the field and Backhaus' role in its development, the volume provides a survey of issues central to the current debate such as legal processes in both Europe and the U.S., constitutional political economy, regulatory law, and the ongoing evolution of the European Union. The importance of this volume is two-fold, as it firmly grounds the discipline in history while establishing a future research agenda. This book will be of use to researchers studying law and economics as well as those interested in institutional analysis.

In the years since World War II, the United States and other countries have created a new economic order which has produced one of the broadest and most sustained periods of prosperity in world history. The essence of this new economic order is a system of rules to govern, facilitate, and promote trade in goods and services. The result is applauded by some and condemned by others. This study discusses the roles of money, systems, and growth in the emerging, new economic order. Studying the roles of money, systems, and growth are important for gaining insight into the likely behavior of economies such as China's. A nation as large as China could undermine the ability of other countries to impose politically difficult economic disciplines. There is need for caution. The upheaval in Asia that is affecting the world's largest markets is a case in point. Failure to implement reforms consistent with the rules of the new economic order has pushed such countries as Albania, Romania, and Macedonia close to becoming Europe's hidden Third World. The power of monetary policy and economic growth to either facilitate or hinder a country's readiness to adopt the rules of the new economic order is underscored in this study.

To fully grasp Marx's theory of the labor movement, Lapides supplies a deeper insight into the economic analysis underlying it. This book presents Marx's theory of wages and wage labor, previously scattered throughout his writings, in its entirety for the first time. The author places the theory in its historical context, locating the sources of Marx's wage theory, its intellectual antecedents, and the roots of later controversies, but the primary focus of the work is the actual development of Marx's theory in the words in which he expressed it. In order to reveal the true nature and rich texture of Marx's thought, the author has assembled Marx's own formulations, scattered throughout his numerous works and buried beneath mountains of commentary and criticism. The book provides a faithful record of the complete evolutionary progress of Marx's theory.

This book defines the relationship between the thought of Adam Smith and that of the ancients---Plato, Aristotle, Cicero, and the Stoics. Vivenza offers a complete survey of all Smith's writings with the aim of illustrating how classical arguments shaped opinions and scholarship in the eighteenth century.

This compendium of essays brings together some of William Baumol's most distinguished and acclaimed papers with some that are more rare, including a discussion of the growth and innovation mechanism that accounts for the unprecedented growth performance of the market economies. Amongst many other papers of note are a discussion of appropriate regulatory principles for privatized and deregulated firms, and a survey of the accomplishments of economists in the past century and the past millennium. This collection includes the following essays: * Productivity Growth, Convergence and Welfare: What the Long-Run Data Show * On the Possibility of Continuing Expansion of Finite Resources * Social Wants and Dismal Science: The Curious Case of the Climbing Costs of Health and Teaching * Towards Microeconomics of Innovation: Growth Engine Hallmark of Market Economics * Use of Antitrust to Subvert Competition * Predation and the Logic of the Average Variable Cost Test. The papers engage with an eclectic range of issues and represent a vignette of the author's varied contributions to the economic literature.

Objects and commodities have frequently been studied to assess their position within consumer - or material - culture, but all too rarely have scholars examined the politics that lie behind that culture. This book fills the gap and explores the political and state structures that have shaped the consumer and the nature of his or her consumption. From medieval sumptuary laws to recent debates in governments about consumer protection, consumption has always been seen as a highly political act that must be regulated, directed or organized according to the political agendas of various groups. An internationally renowned group of experts looks at the emergence of the rational consuming individual in modern economic thought, the moral and ideological values consumers have attached to their relationships with commodities, and how the practices and theories of consumer citizenship have developed alongside and within the expanding state. How does consumer identity become available to people and how do they use it? How is consumption negotiated in a dictatorship? Are material politics about state politics, consumer politics, or the relationship between these and consumer practices?
From the specifics of the politics of consumption in the French Revolution - what was the status of rum? How complicated did a vinegar recipe have to be before the resultant product qualified as 'luxury'? - to the highly contentious twentieth-century debates over American political economy, this original book traces the relationships among political cultures, consumers and citizenship from the eighteenth century to the present.

Modern economics is like a metropolitan area. Economists' ideas about business and markets are like the magnificent buildings of the city centre. Yet most growth and prosperity is in the suburbs - lately many of economics' greatest successes have been outside the traditional boundaries of the discipline. In the study of law, economic ideas have been the intellectual focus and "law and economics" has become a major field. In the study of politics, economists and political scientists using economics-type methods are uniquely influential. In sociology and history, economics has had a smaller but growing influence through "rational choice sociology" and "cliometrics". The influence of the economists type thinking in other social sciences is bringing about a theoretical integration of all the social sciences under one overarching paradigm. The chapters of the book illustrate the intellectual advances that account for this unified view of economies and societies.

This textbook for advanced undergraduate and postgraduate students of Evolutionary Game Theory covers recent developments in the field, with an emphasis on economic contexts and applications. It begins with the basic ideas as they originated within the field of theoretical biology and then proceeds to the formulation of a theoretical framework that is suitable for the study of social and economic phenomena from an evolutionary perspective. Core topics include the Evolutionary Stable Strategy (EES) and Replicator Dynamics (RD), deterministic dynamic models, and stochastic perturbations. A set of short appendices presents some of the technical material referred to in the main text. Evolutionary theory is widely viewed as one of the most promising appraoches to understanding bounded rationality, learning, and change in complex social environments. New avenues of research are suggested by Vega-Redondo, and plentiful exmples illustrate the theory's potential applications. The recent boom experienced by this dscipline makes the book's systematic presentation of its essential contributions vital reading for newcomer to the field.

Covers the key issues required for students wishing to understand and analyse the core empirical issues in economics. It focuses on descriptive statistics, probability concepts and basic econometric techniques and has an accompanying website that contains all the data used in the examples and provides exercises for undertaking original research.

This is an intellectual biography of G.L.S. Shackle, economic theorist, philosopher, and historian of economic theory. It explores how Shackle challenged the aims, methods and assumptions of mainstream economics. He stressed macroeconomic instability, and developed a radically subjectivist theory for behavioural economics and business planning.

In this book, leading experts discuss innovative components of complexity theory and chaos theory in economics.

The underlying perspective is that investigations of economic phenomena should view these phenomena not as deterministic, predictable and mechanistic but rather as process dependent, organic and always evolving.

The aim is to highlight the exciting potential of this approach in economics and its ability to overcome the limitations of past research and offer important new insights. The book offers a stimulating mix of theory, examples and policy.

By casting light on a variety of topics in the field, it will provide an ideal platform for researchers wishing to deepen their understanding and identify areas for further investigation.

Economics for Alfred Marshall, the last of the classical economists, is concerned with activities in the ordinary business of life. In that milieu, we find conflicts and chaotic behavior among people, firms, and countries, which make them conduct their affairs in different, and sometimes, ironic ways. Economic Ironies Throughout History explores, explains, predicts, and harnesses these ironies for economists and scholars alike. Szenberg and Ramrattan distill their core economic ironies from a vast history of philosophy and literature that applies to economic thought. They include philosophical, psychological, literary and linguistic discussions and the personalities behind those ideas such as Socrates, Kierkegaard, Hume, Freud, Jung, Saussure, and Barthes. This book is ideal for economists as well as scholars across the business, social science, and humanities fields.

This book addresses two-person zero-sum finite games in which the payoffs in any situation are expressed with fuzzy numbers. The purpose of this book is to develop a suite of effective and efficient linear programming models and methods for solving matrix games with payoffs in fuzzy numbers. Divided into six chapters, it discusses the concepts of solutions of matrix games with payoffs of intervals, along with their linear programming models and methods. Furthermore, it is directly relevant to the research field of matrix games under uncertain economic management. The book offers a valuable resource for readers involved in theoretical research and practical applications from a range of different fields including game theory, operational research, management science, fuzzy mathematical programming, fuzzy mathematics, industrial engineering, business and social economics.

This volume is a comprehensive, analytical index to the Glasgow Edition of the Works of Adam Smith. Incorporating Smith's original indexes, authorities cited by Smith, cross references to Smith's own writings, and indexes of statutes and place names, the Index succeeds in identifying the concepts delivered and employed by Smith himself. It should prove an invaluable reference tool for all Adam Smith scholars.

The period of past four decades has been characterized as one of neo-liberalism, financialization, globalization, privatization and de-regulation. Inequality has risen in industrialised countries, labour's share in national income has been in decline and economic growth slowed. The evidence of the damage to the environment from human economic activity, and the dramatic consequences of failure to address climate change have become more apparent and urgent. The global financial crises shocked the complacency of the neo-liberal era, though a decade later it may be doubted how much has changed. The central purpose of this volume is to investigate a range of economic and social policies, which move in the direction of constructing a post-neoliberal world. These range over alternative forms of ownership (public, co-operative), policies to address and reverse economic and social inequalities, responses to the forces of globalization, re-constituting the financial system and its roles, and the nature of employment.