'...a tightly argued and excellent book.' - William D. Wray, Journal of Japanese Studies;How did Japan, despite her lack of natural resources, become the world's leading iron and steel producing country? This book examines how the collaboration between government and industry created this economic miracle.

This monograph is a formal account of the structure and organization of a large Japanese advertising agency. Based on a year's fieldwork in a Tokyo-based agency, the book presents a case study of an advertising campaign to outline the complex relations that exist between different divisions (Account, Planning, Marketing, Creative) within an advertising agency, and between the agency and the client, on the one hand, and the agency and media, on the other.

This is the seventh volume in a series of studies on entrepreneurship, innovation and economic growth. The work looks at reinventing government and the problem of bureaucracy.

Models derived from the Real Business Cycle perspective have recently taken a major place in business cycle research. The papers in this present volume bring three contributions to this research programme: A critical evaluation of the canonical RBC models, new elements of empirical relevance, based on comparative calibration and testing, and new specifications, at the frontier of business cycle research, coping with non walrasian features, contracts and nominal rigidities, unemployment and growth.

Managerial economics, meaning the application of economic methods in the managerial decision-making process, is a fundamental part of any business or management course. The current business environment presents managers with increasingly difficult decisions, amidst the Covid-19 pandemic and associated lockdowns, as well as the digital revolution and improved technology. Now in its second edition, this textbook features a new focus on how managerial economics has been transformed by the increasing importance of digitization within both the workplace and wider economy. It also features a new chapter on consumer theory, which emphasizes psychological factors and behavioural economics. Wilkinson adapts a user-friendly problem-solving approach to take the reader in gradual steps from simple problems through increasingly difficult material to complex case studies, demonstrating how to apply the principles of managerial economics to real-life situations. This book will be invaluable to business and economics students at both undergraduate and graduate levels.

... a new twist on the eternal question of inequitable income distribution, though they focus on wealth (accumulated income) rather than income. The authors document the dramatic disparities in the distributions of income and wealth and describe the problems these cause. Their solution, the alternative distribution system, is quite simple: tax inheritance rather than estates. Individuals could inherit up to $1 million tax free. Each succeeding million would be taxed at progressively higher rates. This plan, they argue, would force an estate to be distributed among more people and would cuase beneficiaries to use inheritances more vigorously and creatively.' The authors do an excellent job of making obscure economic data understandable. "Booklist"

A physicist and an economist, writing for a broad audience and using real--not theoretical--data, answer the age-old question: How rich is too rich? In the process, they suggest some practical solutions to the problem of excessive wealth. They outline a way to deal with the too rich that will also create a healthier economy. Merging a hundred years of economic theory and research on wealth and income distributions with anecdotal evidence, Herbert Inhaber and Sidney Carroll create a framework with which to evaluate proposals to redistribute great wealth and income. The authors set forth an Alternative Distribution System, based on the fact that much of the income of the well-off, that upper 3 percent of the United States population with incomes exceeding $110,000 per year, is due to wealth. The ADS, an inheritance plan, would bring the distribution of the lower 97 percent and the upper 3 percent closer together. It would allow a partial correction of the disparity while adding to the total fairness of our society. This very readable text is complemented by a dozen tables that illustrate The Power of Compound Interest, United States Income Distribution, The Estimated Size of the Domestic Underground Economy, and more.

Inhaber and Carroll first describe the existence of an extremely unequal distribution of income and wealth, with enormous resources held by a small percentage of Americans at the top. Other chapters detail the law of income distribution, explain the difference between wealth and income, and explain previous theories of income and wealth distributions. In addition to defining and describing the rich, the authors devote a chapter to how the rich avoid income tax. The volume concludes with an examination of the Alternative Distribution System and how income would be altered by it. How Rich Is Too Rich? will enable the informed general reader to assess policies on wealth and income distribution that have been the subject of Congressional budget debates and best-selling books.

Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics, and informed the currently dominant, knowledge-based theory of the firm. This volume builds on a special issue of Contributions to Political Economy that celebrated forty years since Penrose's classic The Theory of the Growth of the Firm. It includes fifteen chapters by leading contributors on the aforementioned aspects of Penrose's work.

This pioneering work presents for the first time a comprehensive study of the role of Shanghai in the economic development of China. Shanghai experienced stagnation and setbacks in comparison with other big cities and provinces in South China with the open door policy of 1979 and other economic reforms. In terms of export volume, use of foreign capital and overall economic growth, Shanghai remained behind Guangdong and Jiangsu. The fundamental question of why Shanghai maintained a lead position in the national economy and how it was neglected in the Special Economic Zones established in early 1980 is examined herein. In addition, the benefits of trade reform, comparative advantage, and foreign direct investment in Shanghai's recent expansion is discussed.

The Himalayas have experienced a population explosion which has stripped the mountain forests, causing erosion, landslides, and massive damage downstream in the Ganges plain . . . or so it is claimed by the dubious Theory of Himalayan Environmental Degradation. In this book, renowned authorities Jack D. Ives and Bruno Messerli dissect and dismember the theory, showing how its mistaken assumptions have misguided development policy and foreign aid for decades. They challenge received notions of the causes and effects of deforestation, and argue that mountain subsistence farmers, far from being a source of the region's problems, are in fact an integral part of the solution.

Ensuring long-term care (LTC) is one of the most urgent problems in health care today. Demographic trends are expected to lead to a higher proportion of old and very old people in the global population. As a result, an increased proportion of global income will be devoted to LTC services. With this in mind, Long-term Care: Economic Issues and Policy Solutions aims to address the following important objectives: to provide a detailed analysis of the arrangements and institutions designed to protect the disabled and dependent elderly people in various countries, and to try to evaluate their respective merits. to discuss the projections of future costs of protection for dependent elderly, and to assess the impact of improvements in disability-free life expectancy on the future cost of care and choices between informal and formal care. to present empirical research on these decisions, with special consideration of primary caregivers, and on the substitution between in kind and cash benefits as well as between institutional (or formal) care and home (or informal) care. to analyze different theoretical approaches in modeling decisions referring to LTC services to be provided both within and between generations. With its mix of empirical, theoretical and policy-related contributions, Long-term Care: Economic Issues and Policy Solutions will be of interest not only to health economists, but also to social scientists, health insurers, and public policy advocates.

This volume contains papers in the broadly defined area of microeconomic theory presented to the International Economic Association Tenth World Congress in Moscow. A wide range of topics is represented - from the foundations of economic choice through strategic behaviour, multiple market interactions, and asymmetric information to applications in such diverse areas as the internal organization of firms, patent policy, product markets, and labour supply, finishing with a piece on the history of oligopoly theory. The collection strongly suggests that microeconomic theory is indeed thriving as a fascinating and useful central part of economic science.

This textbook is a comprehensive introduction to applied spatial data analysis using R. Each chapter walks the reader through a different method, explaining how to interpret the results and what conclusions can be drawn. The author team showcases key topics, including unsupervised learning, causal inference, spatial weight matrices, spatial econometrics, heterogeneity and bootstrapping. It is accompanied by a suite of data and R code on Github to help readers practise techniques via replication and exercises. This text will be a valuable resource for advanced students of econometrics, spatial planning and regional science. It will also be suitable for researchers and data scientists working with spatial data.

First Published in 2004. Routledge is an imprint of Taylor & Francis, an informa company.

Humans have long neglected to fully consider the impact of their behaviour on the environment. From excessive consumption of fossil fuels and natural resources to pollution, waste disposal, and, in more recent years, climate change, most people and institutions lack a clear understanding of the environmental consequences of their actions. The new field of behavioural environmental economics seeks to address this by applying the framework of behavioural economics to environmental issues, thereby rationalizing unexplained puzzles and providing a more realistic account of individual behaviour. This book provides a complete and rigorous overview of environmental topics that may be addressed and, in many instances, better understood by integrating a behavioural approach. This volume features state-of-the-art research on this topic by influential scholars in behavioural and environmental economics, focussing on the effects of psychological, social and cognitive factors on the decision-making process. It presents research performed using different methods and data collection mechanisms (e.g. laboratory experiments, field experiments, natural experiments, online surveys) on a variety of environmental topics (e.g. sustainability, natural resources). This book is a comprehensive and innovative tool for researchers and students interested in the behavioural economics of the environment and in the design of policy interventions aimed at reducing the human impact on the environment.

The rich, multi-faceted and multi-disciplinary field of matching-based market design is an active and important one due to its highly successful applications with economic and sociological impact. Its home is economics, but with intimate connections to algorithm design and operations research. With chapters contributed by over fifty top researchers from all three disciplines, this volume is unique in its breadth and depth, while still being a cohesive and unified picture of the field, suitable for the uninitiated as well as the expert. It explains the dominant ideas from computer science and economics underlying the most important results on market design and introduces the main algorithmic questions and combinatorial structures. Methodologies and applications from both the pre-Internet and post-Internet eras are covered in detail. Key chapters discuss the basic notions of efficiency, fairness and incentives, and the way market design seeks solutions guided by normative criteria borrowed from social choice theory.

A critical issue in research and development (R&D) management is the structure and use of evaluative efforts for R&D programs. The book introduces the different methods that may be used in R&D evaluation and then illustrates these methods by describing actual evaluation in practice using those methods. The book is divided into two sections. The first section provides an introduction and details on several popular methodologies used in the evaluation of research and development activities. The second half of the book focuses on evaluation in practice and is comprised of several chapters offering the perspectives of individuals in different types of organizations. The book concludes with an annotated bibliography of selected R&D evaluation literature, focusing on post-1985 literature, on research evaluation.

The book presents the basic models of the most important economic agents (households, firms, the banking system etc.). The influence of ethics on the decisions of persons is discussed within the context of mutual influences of one person on another. It is shown that this leads to a Markov chain which converges to a final situation which in many cases is independent of the initial conditions. Different types of decisions are considered: those in personal life, those on the general political and economics constitution and on the current economic policy, and those of normal economic routine (consumption, investment etc.). The reverse influence is treated as well: that of the economic influence on ethics. In the first volume, the conceptual basis of the whole system is laid. The book helps the reader to understand the interdependence of humanities and economics and how to model this interdependence in economics.

From the reviews: "The huge literature in risk theory has been carefully selected and supplemented by personal contributions of the author, many of which appear here for the first time. The result is a systematic and very readable book, which takes into account the most recent developments of the field. It will be of great interest to the actuary as well as to the statistician who wants to become familiar with the subject." "Math. Reviews Vol. 43"
"It is a book of fundamental importance for all interested in the application or teaching of the subject and a significant addition to the literature."
"Journal of the Royal Statistical Society (England) 1971"
"This latest addition to the literature of risk theory is a masterful work.." "Transactions, Soc of Actuaries meetings 65"

This textbook presents a systematic study of terrorism from the standpoint of economic analysis. Choosing the kind and level of measures to counter terror is, to a large extent, an economic decision, as counterterrorism (CT) measures and their side effects are costly. This text, contains theoretical models that illustrate the economic mechanisms of different types of CT measures. A vast array of empirical studies and regularities are also presented. Some chapters discuss in depth the empirical results in the literature as well as the underlying statistical/econometric methodologies that go beyond ordinary regression. General Appendix A provides an exposition of the concept of compensating surplus and elements of the basic game theory, to help the reader with an economics background recapitulate micro theory concepts used in the book. General Appendix B lays out the notions of hypothesis testing, regression and more advanced statistical/econometric methods, so that the reader understands or at least can have an intuitive idea of how the results are derived and what they mean with some degree of inner comfort. Aimed at students at the intermediate undergraduate and graduate levels, the text requires knowledge of basic micro, first-order conditions of profit or utility maximization and cost minimization, and statistical concepts of hypothesis testing and regression. This textbook is intended for use in courses in economics, political science, criminal justice, and emergency management. Additionally, professionals working with national security in government and non-governmental organizations may find it useful.

Now in its third edition, Cost-Benefit Analysis has been updated, offering readers the perfect introduction to project, programme and policy appraisal using basic tools of financial and economic analysis. The key economic questions of any social cost-benefit analysis are: do the benefits of the project or policy exceed the costs, no matter how widely costs and benefits are spread, and irrespective of whether or not project impacts, such as environmental effects, are reflected in market prices? And which group or groups of individuals receive the benefits and which bear the costs? This book addresses these questions with an emphasis on putting the theory presented in the book into practice. This third edition has several attractive features: Readers are encouraged to develop their own skills by applying the tools and techniques of cost-benefit analysis to case studies and examples, including an analysis of a project which is developed throughout the book. The book emphasizes the use of spreadsheets which are invaluable in providing a framework for the cost-benefit analysis. A dedicated chapter provides guidance for writing up a report which summarises the analysis which has been undertaken. New pedagogical features, including Technical Notes and Examples, have been added as an aid to readers throughout the text. An appendix provides 14 additional case studies which can be developed in class or as assignment projects. Additional material for instructors and students is provided through Support Material maintained by Routledge. This updated edition is an ideal text for a course on cost-benefit analysis where the emphasis is on practical application of principles and equipping students to conduct appraisals. It is also a useful handbook for professionals looking for a logical framework in which to undertake their cost-benefit analysis work.

This book covers several areas of economic theory and political philosophy from the perspective of Austrian Economics and libertarianism. As such, it deals with Epistemology and Methodology, Microeconomics, Macroeconomics, Labor Economics, International Economics, Political Philosophy, Law and Public Policy, all from the Austro-libertarian perspective. Hence, this book offers an integrated view of libertarianism and Austrian economics in the light of recent debates in the areas of economic science and political philosophy. Moreover, it builds from the foundations of the Austrian approach (epistemology and methodology), while the latter material deals with its application to the individual from the microeconomic perspective, which in turn allows an exploration of subjects in macroeconomics. Additionally, this work applies Austro-libertarianism to law, politics, and public policy. Thus, it offers a unified view of the entire approach, in a logical progression, allowing the readers to judge this perspective in full. Futerman and Block say that their book is not a manual, which I suppose it is not. But it is a collection of highly pertinent essays, from which you can understand what is mistaken in the orthodoxy of economics, law, and politics. The central term of art in Austrian economics is that phrase "human action." It is the exercise of human will, not the blind bumping of one molecule against another or one organism against another, as in the physical sciences... Futerman and Block distinguish Austrian economics as a scientific enterprise based on liberty of the will from "libertarianism" as an advocacy based on policies implied by such liberty. "Although Austrian economics is positive and libertarianism is normative," they write, "this book shows how both are related; how each can support the other." Indeed they do. Deirdre N. McCloskey, PhD UIC Distinguished Professor of Economics and of History Emerita, Professor of English Emerita, Professor of Communication Emerita, University of Illinois at Chicago

Capitalism and Socialism in Cuba documents the history of the attempts by a small island nation to survive and gain respectability within an everchanging international political economy. Professor Ruffin presents a detailed account of the social, political, and economic forces affecting Cuba's prospects for development under both capitalism and socialism. Part one of the study focuses on Cuba's historical association with capitalism and the relationship that Cuba established with the United States. Part two of the study delineates the nature of Cuba-Soviet relations and deals exclusively with the question of socialist dependency. Professor Ruffin's study is a systematic analysis of the internal (race and class formations) and external (capitalism and socialism) factors that have thus far shaped Cuban history.