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.

Providing an integrated and multi-level analysis of the impacts of COVID-19 on people, place, economies and policies, across the globe, this timely book explores how the global response to the COVID-19 pandemic combines failure with success. It focuses on exploring rapid adaptation and improvisation by individuals, organisations and governments as they attempted to minimise and mitigate the socio-economic and health impacts of the pandemic. Interdisciplinary chapters written by social policy, geography, planning, policy, sociology and public health experts explore the broader impacts of COVID-19, positioning the pandemic in the context of wider trends and risks including climate change. Chapters highlight the importance of place and local contexts in understanding its impacts in different settings including Europe, Canada, North America, South Korea, South Africa and Lebanon. In doing so, the book develops a pandemic preparedness, responsiveness and recovery research framework and intends to inform post-pandemic policy development and research. This is an important book for geography, social policy, politics, urban studies, planning and business and management researchers and students, particularly those focusing on crisis management and risk and resilience. With key case studies from across the globe, it will help elucidate key issues for policy makers and practitioners across a range of sectors including strategic management, social policy, public health and the built environment.

This original and insightful book considers the ways in which public law, which emphasises legality (the Demos), and economics, a science oriented towards the markets (the Agora), intertwine. Throughout, George Dellis argues that the concepts of legality and efficiency should not be perceived separately. An Economic Analysis of Public Law shows that combining these two disciplines allows for a more realistic view of decision-making and human action, leading to the creation of a 'new' public law that improves the functioning of non-consensual institutions. The book explores the ways in which this will lead to a better coexistence of Demos and Agora, especially in modern times of globalisation and competition among regulators. Chapters cover almost all aspects of the economic analysis of public law, such as the importance of economic analysis, design and decision-making for public institutions, and a general economic theory for public law and regulation. Students, scholars and researchers in disciplines such as law and economics, European and public law in general, as well as the philosophy of law will find this book to be a valuable resource. It will also be a companion for anyone who is interested in understanding how the Law of the State and the State itself evolve in the current, globalised world.

In the last decade, female entrepreneurship has gained considerable attention from both academicians and policymakers. Despite the proliferation of studies, this field of research is characterized by being a highly multidisciplinary and dispersed field, encompassing studies from a wide range of disciplines such as business and management, education, political science, technology, and innovation. To legitimize female entrepreneurship as a distinct field of research, it is important to deepen the scientific reasoning regarding women entrepreneurs while promoting the theoretical consolidation of this area of knowledge. Female Entrepreneurship as a Driving Force of Economic Growth and Social Change presents what researchers have learned so far about female entrepreneurship, namely the main motivations that lead women to undertake it and the characteristics of this type of business, as well as the impact of context and technology on the promotion and management of companies by women. In doing so, it contributes to a better understanding of this phenomenon and how it is different from male entrepreneurship, allowing a better delimitation of this field of research. Covering topics such as diversity, innovation, social entrepreneurship, and gender, this premier reference source is ideal for business owners, entrepreneurs, managers, researchers, scholars, academicians, practitioners, instructors, and students.

Global emergencies, such as the COVID-19 pandemic and environmental concerns, have challenged the readiness of societies and forced them to operate in more innovative ways. In response, the world has witnessed new technologies emerge and researchers continually finding better solutions to cope with these situations. It is crucial that these innovations are investigated so that we may better the world during times of crisis. Impact of Disruptive Technologies on the Socio-Economic Development of Emerging Countries provides relevant case studies, innovative disruptive applications, and the latest empirical research findings in the digital technology space. Additionally, it provides accounts of the design, development, and usage of digital solutions that have an impact on addressing societal problems in emerging economies. Covering topics such as e-social work, social media addiction, and adaptive testing, this premier reference source is an essential resource for government officials, entrepreneurs, politicians, business leaders, students and educators of higher education, sociologists, librarians, researchers, and academicians.

This book focuses on conceptualizing the process of economic adjustment and growth, and testing it with empirical methods. The critical components of a successful economic growth strategy include physical, financial, and educational infrastructures supported by macro-financial stabilization policies and structural reforms. With this in mind, the authors begin with a review of the neoclassical growth model, before delving into more specialized topics such as endogenous growth, adaptive inflationary expectations, learning by doing, optimal saving, and sustainable foreign debt. The final chapter presents Philippines as a case study, and narrates the evolution of a successful strategy of adjustment and growth practiced by an emerging market economy that had shown stellar pre-pandemic growth performance, low and stable inflation, and a sustainable external current account position.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. This insightful Advanced Introduction provides an in-depth review of current U.S. technology policy, tracing the legislative history of policies such as the Economic Recovery Tax Act, the Small Business Innovation Development Act and the National Cooperative Research Act. The critical elements of the ecosystem in which technology policy exists are also discussed, with a particular focus on U.S. patent policy and U.S. investments in infrastructure technology. Key features include: Historical trace of U.S. technology policy ideas over the past 75 years Comparison of U.S. technology policies to those in other nations Agenda for future thinking about U.S. technology policy Integrated discussion of U.S. technology policy Economic rationale for U.S. technology policy This Advanced Introduction will be invaluable for international business leaders and policymakers, in addition to scholars in economics, public administration, business and public policy.

Economics is business, and politics is power. In this insightful book, David Reisman explores the interaction between authority and exchange in a global village where individual nation states - once the pinnacle of political organisation - increasingly depend on each other for their material well-being. Taking a transnational and impartial perspective, the author builds a comprehensive and intricate narrative. He dissects the emergence of the contemporary global economy and explains its impact on the sovereignty and strength of nations. Reisman explores the ways in which liberals, socialists and nationalists can reach a viable consensus in a new social order where the national interest must be the global interest as well. Offering authoritative, integrated and critical guidance to a topic that is of ever greater importance, this book is crucial reading for students of global political economy and international politics.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. In this thoroughly revised and updated second edition, Mariana Mota Prado and Michael J. Trebilcock offer a succinct and readable introduction to the main concepts and debates in the field of law and development. They examine the role of legal systems and institutions, investigate perceptions around what laws and legal arrangements encourage and facilitate development, and probe the issues arising in both private law and public law as well as in international economic relations. Key features of the second edition include: Discussion of the role of technology in promoting development Analysis of the potential impact of the Covid-19 pandemic on developing countries A brand new chapter investigating the role of health and education in development Written with the insight of two top experts in the field, this Advanced Introduction covers the most recent trends in law and development research and highlights areas that remain underexplored. It will be essential reading for students, practitioners and policy-makers looking to gain a clear understanding of the core principles of this multifaceted topic.

"Hubbard and Kane synthesize economics, politics, and psychology to develop a new audacious theory of why countries decline. Compulsory reading for anyone who wants to understand the major issues that America now faces" (James Robinson, coauthor of "Why Nations Fail").
From the Ming Dynasty to Ottoman Turkey to imperial Spain, the Great Powers of the world emerged as the supreme economic, political, and military forces of their time--only to collapse into rubble and memory. What is at the root of their demise, and how can the United States stop it from happening again?
A quarter century after Paul Kennedy's "The Rise and Fall of the Great Powers," Glenn Hubbard and Tim Kane present a bold, sweeping account of why powerful nations and civilizations break down under the heavy burden of economic imbalance. Introducing a profound new measure of economic power, "Balance" traces the triumphs and mistakes of imperial Britain, the paradox of superstate California, the long collapse of Rome, and the limits of the Japanese model of growth. Most importantly, Hubbard and Kane compare the twenty-first-century United States to the empires of old and challenge Americans to address the real problems of our country's fiscal imbalance. If there is not a new economics and politics of balance, they portend that inevitable demise is ahead.
This is more than another analysis of our nation's economy; it is a groundbreaking look at the patterns of the past and a "thought-provoking analysis that has compelling relevance for America's future" (Nobel Peace Prize-winner Henry A. Kissinger).

This volume presents thirteen chapters prepared by senior researchers and former policy makers on key policy issues confronting China and the West. They focus on the role of the state in economic development, trade issues and the part played by innovation, digitalization and leadership. In a challenging and rapidly changing world, the book aims to provide not only authoritative analyses and perspectives, but to stimulate further thinking and debates about the common future. Each chapter is in the form of a short policy brief. China and the West is aimed for policy makers, business leaders, academics and students.

This book examines the main causes of financial instability and highlights that, with the exception of wars and pandemics, the financial system is the source of the crisis, not just a means of spreading it, as most mainstream experts believe. Based on the following findings, the innovative sections of this book provide academics and policymakers with important and practical knowledge: because negative shifts in the financial system precede recessions, financial indicators can predict the onset of a crisis much earlier than real variables; the proposed recession forecasting model can predict the emergence of the crisis a month in advance. When the economy's sensitivity to the financial system is reduced, there will be only modest negative economic growth and no true recessions.

Challenges the mainstream understanding of BRICS and US dominance to situate the new global rivalries engulfing capitalism.

BRICS is a grouping of the five major emerging economies of Brazil, Russia, India, China and South Africa. Volume five in the Democratic Marxism series, BRICS and the New American Imperialism challenges the mainstream understanding of BRICS and US dominance to situate the new global rivalries engulfing capitalism. It offers novel analyses of BRICS in the context of increasing US induced imperial chaos, deepening environmental crisis tendencies (such as climate change and water scarcity), contradictory dynamics inside BRICS countries and growing subaltern resistance.

The authors revisit contemporary thinking on imperialism and anti-imperialism, drawing on the work of Rosa Luxemburg, one of the leading theorists after Marx, who attempted to understand the expansionary nature of capitalism from the heartlands to the peripheries. The richness of Luxemburg’s pioneering work inspires most of the volume’s contributors in their analyses of the dangerous contradictions of the contemporary world as well as forms of democratic agency advancing resistance.

While various forms of resistance are highlighted, among them water protests, mass worker strikes, anti-corporate campaigning and forms of cultural critique, this volume grapples with the challenge of renewing anti-imperialism beyond the NGO-driven World Social Forum and considers the prospects of a new horizontal political vessel to build global convergence. It also explores the prospects of a Fifth International of Peoples and Workers.

This defining and original book explores the history of monopoly power and of its relation to competition, focusing on the innovative contributions of the Italian Marginalists ? Pareto, Pantaleoni, De Viti de Marco and Barone. Manuela Mosca analyses their articulate vision of competition, and the structural and strategic entry barriers considered in their works to enrich existing literature on the history of the sources of market power. The book is not limited to the reconstruction of the elaboration of pure theory, it also highlights its policy implications and how this group applied their theories as cutting-edge experiments in analysing the labour market, socialism, the Great War and gender issues, against the background of the political situation of the period. Monopoly Power and Competition is a vital resource for historians of economic thought, as it explores a relatively untouched area of microeconomics in historical perspective, and reveals the theories surrounding monopoly power and competition. Microeconomists and industrial organisation scholars would similarly benefit from the knowledge of the origins of many microeconomic tools and notions.

Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. Presenting state-of-the-art reviews on classical and novel research fields in economic psychology, this Research Agenda studies the fundamentals, perceptions and understanding of economic phenomena and behaviour. Internationally renowned experts as well as the next generation of researchers summarize the field and outline promising avenues of future research. Research topics are addressed from an interdisciplinary perspective, providing a broad spectrum of thought on economic psychology. Exploring important gaps in research, chapters include theoretical as well as applied themes and cover novel research fields, to keep the reader abreast of contemporary developments. These include the psychology of money, product design, financial capabilities, sustainable consumption, diet, ethical conduct, gender inequality, the sharing economy, basic income, happiness, and tax psychology. Researchers and advanced students of economics and psychology looking to update their knowledge and refresh their thinking on future research will greatly benefit from this timely book. Contributors include: S. Asbach, J.M. Bauer, J. Bosak, S. Diefenbach, K. Gangl, A. Gasiorowska, B. Hartl, M. Hassenzahl, D. Hilton, E. Hofmann, J. Khan, E. Kirchler, C. Kulich, C. Loibl, T.L. Milfont, K. Patel, L.A. Reisch, G. Rivers, D. Schwartz, M. Sommer, D. Stimmler, O. Stravrova, C. Tanner, I. Vlaev

Since the collapse of the Soviet Union in 1991, Russia has made enormous strides toward creating a free market. In just over twenty years, the country's economy has been completely transformed. Today, most Russian companies have been privatized and the country has developed fully functioning capital markets. Indeed, over the course of the past two decades, the Russian equity market has, on more than one occasion, been the world's best-performing stock market. While the country and its leadership continue to face great structural hurdles that must be overcome, recent progress has been nothing short of remarkable. This book brings together some of the world's most successful Russia-dedicated portfolio managers, economists and market participants to share their personal experiences in this dynamic market. Each of these professionals has a long-term relationship with Russia and has lived as well as worked in Russia: they have many years of experience in the country's financial markets. Indeed, many of the contributors to this book have been active in Russia since the very inception of the market and each is uniquely qualified to offer a personal and authoritative account of Russia's journey toward capitalism. The book is divided into two parts, one giving a more general overview of the market's development and the other focusing on the personal experiences of Russia's capitalist pioneers. Each chapter offers a clear historical description of principal developments, while the personal touch enhances the reader's understanding of how market forces developed, how obstacles were overcome, and how so many market participants have been able to reap great rewards in one of the world's most dynamic emerging markets. The contributors also discuss the road ahead, examining both the positive and the negative factors that will affect the Russian economy in the years ahead.

This volume contains thirty-seven contributions from the most significant early developers of monetary economics. Starting with Aristotle, the collection tracks the development of the modern theory of money through the ages by thinkers like Thomas Aquinas, Martin de Azpilcueta, John Locke, Richard Cantillon, David Hume, and A.R.J Turgot. Also included are the first translations of Jean Buridan's writings on money and of Albert the Great's writings on money from Latin. A Source Book on Early Monetary Theory will be of interest to bankers, historians, and macroeconomists and can be used as a supplementary text on courses in macroeconomics, money and banking, and the history of economic thought.

Part of the Elgar Series on Central Banking and Monetary Policy, this book explores the relationship between central banking, monetary policy and the economy at large. It focuses on the specific relationship between central banking, monetary policy and the environment as central banks wake up to new realities. The book examines not only the impact of changes in interest rates on the environment, but also the impact that the environment and climate change have on monetary policy. New green policies are proposed for central banks to implement as they move forward and navigate the pitfalls of climate change. Scholars and students interested in central banking, monetary policy and the environment will appreciate this take on Central Banking, Monetary Policy and the Environment.

Sustainable development is a long-term solution to how we plan our indefinite progress in the future. The concept covers a broad scope of environmental, social, and economic development, which continues to prove its importance in our lives as it affects all aspects of them. Innovative Economic, Social, and Environmental Practices for Progressing Future Sustainability explores the current practice and implementation of economic, social, and environmental sustainable development. This book offers a reference for a wide number of stakeholders interested in the importance of economic, social and environmental development in sustainable development. New contributions, especially theoretical, practical and managerial, will be discussed in this book. This book is a reference for a wide number of stakeholders interested in the area of sustainable development, especially in the area of economic, social, and environment. This text is an international platform to bring together academics, researchers, lecturers, decision-makers, policymakers, and practitioners to share new theories, research findings, and case studies.

In good times, growth and profits are welcome, but in bad times we need resilience, and resilience cannot be spirited up overnight. The economic fallout from the 2008-9 financial crisis and the COVID-19 pandemic has been considerable. Each required unprecedented measures to prevent the economy from crashing. We can learn from crisis to move beyond the superficial success of growth-based economics to adopt a more robust way to frame economics. The adoption of resilient economics should allow an economic system to evolve that is stable by default. The next crisis could be any number of issues, some very closely aligned with the economy and others related to health and environment, or something else entirely. A truly resilient economy should be able to weather any crisis and bounce back when it abates. We need to recalibrate economics to regain its place as a solid and respected discipline at the heart of policymaking. Resilient economics can do this. It provides a framework that moves away from focusing on expansion and growth, to focusing on security, stability, and sustainability. All societies are different; every economy should be different.