This sequel to Marx and Non-Equilibrium Economics introduces the key advances in modern value theory. Leading authors with contrasting theoretical viewpoints debate equilibrium and non-equilibrium approaches, abstract labour and money, and provide an invaluable introduction to the rapidly growing body of new work in these fields. The authors cover cutting-edge topics in value theory including gender and money, crisis theory, the impact of technology, skilled and complex labour, and the effect of international transfers of value. All of the papers in The New Value Controversy and the Foundations of Economics concentrate on new research. The mathematical content is minimal, allowing both active researchers and new students to introduce themselves to the burgeoning critical reappraisal of the foundations of Twentieth Century economic thinking.

This absorbing book examines the period of massive structural adjustment taking place in the wine industry. For many centuries wine was very much a European product. While that is still the case today - three-quarters of world wine production, consumption and trade involve Europe and most of the rest involves just a handful of New World countries settled by Europeans - the importance of exports from non-European countries has risen dramatically over the past decade. The World's Wine Markets includes an in-depth look at the growth and impact of New World wine production on the Old World producers, revealing that between 1990 and 2001, the New World's combined share of world wine exports grew from 4 to 18 per cent, or from 10 to 35 per cent when intra-European Union trade is excluded. Original essays, by economists from each of the major wine producing and consuming regions in the world, analyse recent developments and future trends, and conclude that globalization of the industry is set to continue for the foreseeable future. Furthermore they argue that with increasing globalization, there is a greater need than ever for systematic analysis of the world's wine markets. This fascinating work will appeal greatly to students enrolled in wine marketing and business courses, those studying industrial organization, and economists and other social scientists interested in case studies of globalization at work. As well, wine industry participants interested in understanding the reasons behind the recent dramatic developments in the industry will find this rigorously analytical yet accessible book of great value.

Working Mothers in Europe combines comparative perspectives on social policies with analyses of mothers' practices as evidenced in macro data and as explored in country based case studies. Social policy research has emphasised the impact of particular welfare systems and their policies on women's integration into the labour market and the organisation of care and work. However, the authors argue that policies are not the only factor, and, hitherto, we have very little knowledge of the precise interactions between social policies and social practices of individuals and families. In order to accurately grasp the cross-country variation of mothers' work and care arrangements in Europe, this book assembles a comparative approach towards welfare systems and social policies with an analysis of mothers' social practices in several European countries. Exploring the ways in which working mothers manage to combine care responsibilities and paid work on the basis of diverse public and private resources, this book will be invaluable to academics, researchers and students interested in the social sciences. More generally, the book will greatly appeal to those with an interest in women's employment, gender relations and the needs of children as matters that are tackled in the interaction between social policy and individuals.

How can large bonuses sometimes make CEOs less productive?Why is revenge so important to us?How can confusing directions actually help us?Why is there a difference between what we think will make us happy and what really makes us happy?

In his groundbreaking book, Predictably Irrational, social scientist Dan Ariely revealed the multiple biases that lead us to make unwise decisions. Now, in The Upside of Irrationality, he exposes the surprising negative and positive effects irrationality can have on our lives. Focusing on our behaviors at work and in relationships, he offers new insights and eye-opening truths about what really motivates us on the job, how one unwise action can become a long-term bad habit, how we learn to love the ones we're with, and more. The Upside of Irrationality will change the way we see ourselves at work and at home--and cast our irrational behaviors in a more nuanced light.

Capital flight - the unrecorded export of capital from developing countries - often represents a significant cost for developing countries. It also poses a puzzle for standard economic theory, which would predict that poorer countries be importers of capital due to its scarcity. This situation is often reversed, however, with capital fleeing poorer countries for wealthier, capital-abundant locales. Using a common methodology for a set of case studies on the size, causes and consequences of capital flight in developing countries, the contributors address the extent of capital flight, its effects, and what can be done to reverse it. Case studies of Brazil, China, Chile, South Africa, Thailand, Turkey and the Middle East provide rich descriptions of the capital flight phenomena in a variety of contexts. The volume includes a detailed description of capital flight estimation methods, a chapter surveying the impact of financial liberalization, and several chapters on controls designed to solve the capital flight problem. The first book devoted to the careful calculation of capital flight and its historical and policy context, this volume will be of great interest to students and scholars in the areas of international finance and economic development.

In spite of massive flows over the past 50 years, aid has failed to have any significant impact on development. Marginalization from the world economy and increases in absolute poverty are causing countries to degenerate into failed, oppressive and, in some cases, dangerous states. To address this malaise, Ashok Chakravarti argues that there should be more recognition of the role economic and political governance can play in achieving positive and sustainable development outcomes. Using the latest empirical findings on aid and growth, this book reveals how good governance can be achieved by radically restructuring the international aid architecture. This can be realised if the governments of donor nations and international financial institutions refocus their aid programs away from the transfer of resources and so-called poverty reduction measures, and instead play a more forceful role in the developing world to achieve the necessary political and institutional reform. Only in this way can aid become an effective instrument of growth and poverty reduction in the 21st century. Aid, Institutions and Development presents a new, thoroughly critical and holistic perspective on this topical and problematic subject. Academics and researchers in development economics, policymakers, NGOs, aid managers and informed readers will all find much to challenge and engage them within this book.

The economic system of 'high-growth-period' Japan was characterized by various properties such as its unique banking system, industrial policy and lifetime employment. Juro Teranishi argues that since the 'bubble period' and the subsequent severe downturn of the economy during the 1990s, Japan's economic system has been undergoing extensive changes. This book is informed by a historical evaluation of the 'high-growth-period' economic system in comparison with the preceding Meiji-Taisho economic system, set within a framework incorporating the role of the government and the private sector economic system as well as the government-private sector interface. Factors are identified that determined the emergence of the Japanese economic system, and the nature of, and reasons for, its transformation. Juro Teranishi reveals how the 'high-growth-period' economic system emerged because of the failure of the Meiji-Taisho economic system to adapt to changes in exogenous conditions, and that it is now obliged to change in order to accommodate those changes that took place during the 1990s. The book also includes a valuable evaluation of the performance of the Japanese economic system in terms of not only the growth of GDP, but also income distribution. Juro Teranishi's book will appeal to scholars and students of the Japanese economy, institutional and financial economics, and corporate governance.

Trade and environment issues are achieving ever greater prominence in the WTO. This timely volume contains key papers on this important and highly contentious issue. There is a natural linkage between trade and environment through the use of policy instruments. But when does more trade help or hurt the environment? There is clash between the market-opening principles of free trade, as reflected in the WTO, and the environmental quality and market regulating instincts of environmentalists. This volume examines the conceptual issues involved, as well as the manner in which the subject has been handled by the WTO. It will be an invaluable source of reference for students and researchers alike.

The growing levels of income inequality, an explosion of global financial flows, and a worldwide decline of economic growth have combined to challenge accepted economic wisdom. Utilizing a heterodox approach, Pablo G. Bortz provides a fresh look for understanding the interaction between these three factors while identifying challenges and possible alternatives for an expansionary and progressive economic policy. Reviewing several schools of thought, Inequality, Growth and 'Hot' Money explores the risks generated by capital flows and the limitations they impose on progressive economic policies. Professor Bortz then provides instruments and alternatives to pursue an expansionary and equalitarian program, including theoretical contributions to enrich heterodox and progressive economics. Standout features of this book include a review of the challenges that financial flows pose for developing countries; a redefinition of the role of capital controls; a policy approach that separates interest rate policies from a broader credit policy; and a rejection of the negative relationship between a more egalitarian income distribution and sustained economic expansion. Expanding the Kaleckian approach to include financial flows, this accessible introduction to heterodox growth models will be appreciated by graduate students and committed heterodox economists. Research departments at official institutions such as central banks may also be interested, specifically in the book's models and policy prescription.

This compelling research review touches on the contemporary debates in macroeconomics that have consequentially emerged as a result of government debt. Should governments tolerate high public debt or become more indebted given the now prevailing low interest rates? Or is high public debt bad for private sector confidence and growth, by feeding uncertainty, expectation of future tax hikes and an imminent collapse in the wake of the next crisis? This review presents a collection of articles reflecting on these complex and intriguing topics. This review will be useful for policy makers and academics alike, while being particularly suited for those wishing to explore this exciting research area further.

Angebot und Nachfrage ist Ihnen sicherlich ein Begriff, aber was hat die Volkswirtschaftslehre sonst noch zu bieten? Studierende finden in diesem Buch die wichtigsten Studieninhalte. Professor Detlef Beeker stellt leicht verstAndlich die MikroAkonomie dar, die sich mit den wirtschaftlichen Entscheidungen von Konsumenten und Unternehmen befasst, und die MakroAkonomie, in der gesamtwirtschaftliche ZusammenhAnge im Mittelpunkt stehen. NatA1/4rlich bleibt auch das Thema Wirtschaftspolitik nicht auA en vor. Damit Sie von Arbeitslosigkeit bis Zentralbank die wichtigsten volkswirtschaftlichen Themen verstehen.

In Firms, Strategies and Economic Change, Fu-Lai Tony Yu acknowledges the shortcomings of contemporary research on industrial organisation and strategy, while proposing a novel subjectivist approach to economic and management problems. Based largely on the works of Max Weber, Alfred Schutz, Ludwig von Mises and Frank H. Knight, this book develops the subjective interpretation framework to promote better understanding of entrepreneurship, industrial organisation and strategy, vertical integration, innovation, consumer behaviour, business cycles and institutional change more fully. The author also presents a new interpretation on the economics of Frank H. Knight and sheds light on the history of subjectivist economics. Adding new insights not only to economics but also to business, entrepreneurship and industrial organisation issues, this book will have a wide appeal to scholars of these areas as well as Austrian economists.

The position of low skilled workers in the labour market has deteriorated significantly over the past three decades. What has caused this deterioration in low skilled labour demand and what can explain the different labour market responses throughout the OECD? Mark Sanders addresses these questions and evaluates proposed policies to improve upon the present situation and prevent further deterioration in the future. The author develops a theoretical framework that produces two hypotheses to explain the shift in relative demand as well as the different ways in which this shift has manifested itself. The framework is then extended by introducing unemployment, and additional hypotheses are proposed to explain the main EU-US differences. The dynamics thus uncovered yield somewhat unorthodox policy implications on income-, labour market and technology policies in Europe and the US. This comprehensive book will appeal to both scholars and academics, whilst graduate and PhD-students looking for an accessible introduction to modelling the dynamics of technical change and its interactions with the labour market will find it of great interest.

In the 1990s, institutional and evolutionary economics emerged as one of the most creative and successful approaches in the modern social sciences. This timely reader gathers together seminal contributions from leading international authors in the field of institutional and evolutionary economics including Eileen Appelbaum, Benjamin Coriat, Giovanni Dosi, Sheila C. Dow, Bengt-Ake Lundvall, Uskali Maki, Bart Nooteboom and Marc R. Tool. The emphasis is on key concepts such as learning, trust, power, pricing and markets, with some essays devoted to methodology and others to the comparison of different forms of capitalism. An extensive introduction places the contributions in the context of the historical and theoretical background of recent developments in economics and the social sciences.Essential reading for lecturers, researchers, graduates and advanced undergraduates in economics, business studies and sociology, this diverse yet complementary collection of essays will also find a broad readership amongst those wanting to understand the manifest changes apparent within modern socio-economic systems.

Immigration has become a significant public policy issue in all of the developed countries, as well as an important area of study for academic researchers. Barry R. Chiswick has been a pioneer in research on the economics of immigration and has published numerous seminal studies on the labor market, the educational and linguistic adjustment of immigrants, and the impact of immigrants on the host economy. He has also written extensively on various aspects of immigration policy. Now his most influential and widely-cited papers, published over a span of 25 years in a variety of journals and conference volumes, are available in a single volume. The author has written an original essay introducing this valuable collection. Scholars of economics, public policy, sociology, anthropology and immigration will find this book an essential addition to their libraries.

Following China's accession to the WTO in 2001, reform of its science and technology system has deepened. This book provides an in-depth analysis of the high-tech sector, examining Chinese high-tech industry policy, the emergence of industrial clusters, the R&D activities of multinational corporations operating in China, and the prospect of commercialization of high-tech achievements. The authors argue that since commercialization has become the ultimate objective of innovation activity, the relationship between R&D facilities, the local economy and local enterprises has become closer, thereby boosting the technology innovation capability of the corporate sector. They go on to explore regions with the greatest scale and depth of high-tech industry development: Beijing, Shenzhen, Shanghai and Shaanxi; which now serve as models for other regions. The book concludes that although high-tech exports have become an important contributing factor to China's economic growth, the country still has no effective mechanism for high-risk investment, therefore Chinese high-tech enterprises still find it difficult to secure financing. This book will strongly appeal to those affiliated to multinational enterprises: managers, brokers, dealers and investors, as well as academics and researchers specialising in business economics and Asian studies.

Exploring the Tomato engages with an apparently simple fruit in order to reveal major changes to society and economy. It treats the tomato as an object of fascination and as a probe into major historical changes in twentieth century capitalism. From first domestication to genetic modification, from Aztec salsa to supermarket pizza, the tomato has been continually transformed in the ways it has been produced, exchanged and consumed. This book explores what brings about a variety that is at once biological, historical and socio-economic. A conceptual framework of 'instituted economic process' demonstrates how different tomato forms are an expression of dynamic processes in capitalist economies and societies during the twentieth century. As both an early pioneer in mass production and a contemporary contributor to the creation of global cuisines, the tomato has been subject to intense innovation. Computerised total ecologies under glass, producing fresh tomatoes of all shapes, colours and sizes, compete with sun and southern climates across the world. To enter the variety of tomato worlds is to discover the variety of capitalism. Written in an accessible style, this book makes a major contribution to the emerging field of economic sociology and to our understanding of the innovation process. It should be read by anyone concerned with social science, particularly economists and sociologists, as well as those interested in food and the history of food.

Bringing together contributors from both the university sector and business-centered research institutions, this comprehensive volume offers diverse perspectives on the impacts and consequences of globalization in different parts of the Asian region. Each chapter offers a substantial account of globalization within a particular nation-state or area in the region. Different understandings underpin the chapters. Some contributors perceive globalization as progress in the form of economically driven processes that have made nations mutually dependent in unprecedented and complex ways. Others emphasize the uneven outcomes of globalization, as well as the stakes for economic growth and social order in the global climate of deepening political and religious divisions since September 2001. General and specialist readers alike will gain an appreciation of the myriad emphases placed on globalization within different nations and from various vantage points. The book showcases diverse styles of discourse and serves to greatly broaden the scope of what can be discussed under the rubric of 'globalization' within a single volume.

CE Marking, the European system of mandatory product safety standards, has created major obstacles for US exporters to the European Union (EU). CE Marking, Product Standards and World Trade is one of the first books to analyze the nature and dynamics of this major non-tariff trade barrier. David Hanson looks at the patterns of EU decision-making through a functional comparative analysis with the US, and in the context of the institutional alliances and rivalries that shape outcomes. An increasingly important but little understood issue, CE Marking is also an example of a growing problem in international commerce - the impact of inconsistent domestic product requirements on international trade. The author examines the way in which the EU has implemented the CE Marking system, its impact on US exporters, the dynamic of US - EU trade and negotiations, and the political and administrative arrangements that support them. This comprehensive study will be of great interest to students and scholars of industrial economics and international business. Business people and policymakers will also find much of interest in this timely volume.

What value do we place on our cultural heritage, and to what extent should we preserve historic and culturally important sites and artefacts from the ravages of weather, pollution, development and use by the general public? This innovative book attempts to answer these important questions by exploring how non-market valuation techniques - used extensively in environmental economics - can be applied to cultural heritage.The book includes twelve comprehensive case studies that estimate public values for a diverse set of cultural goods, including English cathedrals, Bulgarian monasteries, rock paintings in Canada, statues in the US, and a medieval city in Africa. The authors demonstrate the potential utility of these techniques, and highlight the important social values that cultural heritage can generate. Given limited resources, such studies can help set priorities and aid the decision making process in terms of their preservation, restoration and use. The authors conclude by reviewing the majority of cultural valuation studies done to date, and draw some general conclusions about the results achieved and the potential benefits, as well as the limitations, of valuing these types of goods. This highly original book will be of great use and interest to academics in the fields of environmental, resource, and cultural economics, as well as NGOs and policymakers involved in cultural heritage at the national, international and global level.

The re-emergence of institutional economics in the final quarter of the twentieth century is one of the most important and fruitful developments in social science. In bringing together some of the most significant previously published papers by leading scholars in the field, this authoritative collection explores the major changes in the 'new' and 'old' institutional economics, the developments of new approaches and the extension of applications to new areas which have taken place since the early 1990s. This volume is a definitive collection of readings showing both changes in the research agenda and new developments at the cutting edge. It is an ideal reference source for students and researchers in the fields of economics, sociology, business and other related disciplines.

This authoritative collection brings together major articles written by leading economists, political scientists and legal scholars to analyse the complexities of the modern global system of intellectual property rights (IPRs) and its relationship with the WTO. The papers selected consider the role of IPRs in the knowledge economy, itself a force for rapid globalisation. They first place IPRs into context as a trade issue and their controversial role within the WTO. Several articles analyse the ability of IPRs to encourage innovation and support markets, emphasising controversial problems in developing countries: special attention is given to the role of patents in biodiversity and essential medicines. Additional contributions provide important theoretical and empirical perspectives on the economics of IPRs in the global economy, including effects on trade, investment, innovation, growth, and technology policies. This authoritative volume will be an important source of reference for scholars and policymakers seeking to understand the development and trade impacts of intellectual property protection. 21 articles, dating from 1991 to 2003

Research on consumption from an environmental perspective has exploded since the late 1990s. This important new volume cuts across disciplines to present the latest research in the field. The book is divided into three parts, the first of which addresses the problems of consumption both as a concept and as an economic and social force with high environmental impact. In the second part, the authors try to explain consumption as an attempt by individuals to satisfy different types of needs whilst simultaneously being embedded in certain lifestyles and constrained by time and daily routines. The final section looks at how change towards less environmentally damaging consumption patterns can be achieved through national sustainability and consumer policy measures, as well as through community building and individual action. In accordance with the transdisciplinary nature of ecological economics, the original contributions emanate from a variety of different perspectives to reflect the diversity of research in this growing field. By seriously exploring the role of consumption within ecological economics, this fine book will provide invaluable reading for students and researchers interested in sustainable consumption, ecological economics and consumer research.

This outstanding text, a follow-up to the authors' award-winning 1982 text, provides a thorough treatment of economic welfare theory and develops a complete theoretical and empirical framework for applied project and policy evaluation. The authors illustrate how this theory can be used to develop policy analysis from both theory and estimation in a variety of areas including: international trade, the economics of technological change, agricultural economics, the economics of information, environmental economics, and the economics of extractive and renewable natural resources. Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, the authors develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. Possibilities are presented for (1) approximating WTP with consumer surplus, (2) measuring WTP exactly subject to errors in existing econometric work, and (3) using duality theory to specify econometric equations consistent with theory. Later chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities, and dynamic considerations. Applications are considered explicitly for policy issues related to information, international trade, the environment, agriculture, and other natural resource issues. The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economics and provides an essential reference for practitioners of applied welfare economics.

This book aims to improve the understanding of the relationship between cultural diversity and international economic integration and its implications for global governance of the audio-visual sector. The national audio-visual policies of a number of countries - including Canada, Egypt, France, Germany, Italy, India and the UK - are compared in order to assess their potential impacts and restrictive effects on international trade and investment. The variety of approaches used by the contributors reflects the wide differences among national audio-visual systems and offers a rich perspective on how they can be analysed. The lessons drawn from these national case studies are placed in context by up-to-date original analysis of the constraints arising from the WTO system. Scholars and professionals in the audio-visual sector and in international trade negotiations would be interested in the issues discussed in the book, given their importance in shaping the institutional environment of cultural and economic activities in the audio-visual sector.