This book, as the title suggests, explains how General equilibrium, the dominant conceptual framework in mainstream economics, describes a perfectly impossible world. Even with its counterfactual assumptions taken for granted, it fails on many levels. Under the impressive editorship of Ackerman and Nadal, this book will appeal to students and researchers in economics and related social science disciplines.

Alexander Ryzhenkov Unfolding the Eco-Wave Why Renewal is Pivotal System dynamics is a method similar to econometrics and mathematical statistics. Normally it is used to provide a rigorous analysis of models in closed systems (a system that is artificially created to simplify certain conditions, so that other conditions can be examined in more detail). Here, however, it is used for the first time to study capital accumulation, and the economic cycles. It is well documented that econometrics and mathematical statistics have their limitations. For the first time Unfolding the Eco-Wave sets out to prove that system dynamics does provide a coherent structure, language, and process for learning about and explaining economic phenomena in a way that is impossible to achieve with mathematical statistics and econometrics. Finance/Investment

The powerful theorems of welfare economics operate under a range of assumptions. Two of the most significant are the existence of competitive markets for all goods and services - including futures markets - and the unbounded rationality of all economic agents who act independently to maximize payoffs. In the contributions discussed in this research review, economists come to grips with the consequences of markets falling short of assumptions, as well as the response of institutions to observed market characteristics. This comprehensive study will be of interest to economists and policymakers who wish to understand the strengths and limitations of the market mechanism of resource allocation.

First published in 1991, this book consists of twelve papers, all specifically written for this volume, and an Introduction which maps out some of the key conceptual and theoretical issues raised by the phenomenon. The first group of papers draws upon and analyses the political claims made on behalf of enterprise culture. The papers in the second section explore the international dimension of enterprise culture. The final section is devoted to a consideration of the role of consumers in an enterprise culture.

The Free and Open Source Software (FOSS) movement demonstrates how labour can self-organise production, and, as is shown by the free operating system GNU/Linux, even compete with some of the worlds largest firms. The book examines the hopes of such thinkers as Friedrich Schiller, Karl Marx, Herbert Marcuse and Antonio Negri, in the light of the recent achievements of the hacker movement. This book is the first to examine a different kind of political activism that consists in the development of technology from below.

The literature on the character, determinants and relative performance of the leading industrial economies has developed rapidly of late. However many of the most important pieces of writing are now slipping from view because they were originally published in different, often inaccessible and highly specialised academic journals. These three volumes bring together those key articles and provide a new introductory commentary on the literature. This authoritative collection provides the reader with easy access to the full range of arguments now being developed to explain why some forms of economic organisation prospered best in the immediate past, and why some models now seem more effective than others in responding to the new global conditions of intensified international competition and rapid capital mobility. These volumes will be an indispensable reference source for students and researchers specialising in modern capitalism.

This authoritative collection brings together the leading contributions to the comparative study of forms of capitalism. An introductory essay presents the context in which these contributions developed, discusses the major issues raised by such comparative work, and suggests likely future developments. Topics include the major theoretical issues involved in analysing different kinds of market economies; the key frameworks for comparing systems of economic organisation, both historically and between societies; the analysis of the distinctive varieties of industrial capitalism that have developed in the Anglo-Saxon countries, Continental Europe and East Asia and studies of globalisation and the connections between types of market economies and varying forms of economic performance, particularly in terms of sectoral development and technical change. The collection will be an indispensable reference source and will improve access to important papers that may not be available in many libraries.

In this landmark work, Neil Gilbert addresses the long-standing tensions between capitalism and the progressive spirit. Challenging the contemporary progressive outlook on the failures of capitalism, Capitalism and the Progressive Spirit analyzes the empirical evidence for conventional claims about the real level of poverty, the presumed causes and consequences of inequality, the meaning and underlying dynamics of social mobility, and the necessity for more social welfare spending and universal benefits. A careful reading of the research reveals that these issues are far less serious than contemporary progressive claims would have the public believe. Progressive leaders, however, remain firmly wedded to the established social agenda, which conveys a vision of the good society that disregards the historically unprecedented and wide-spread abundance in the advanced post-industrial countries. Meanwhile, the progressive agenda inadvertently caters to the corrosive effects of insatiable consumption and the commodification of everyday life, from which modern capitalism profits. The analysis suggests that it is time to resist the material definition of progress that stands so high on the current agenda and envision alternative ways for government to advance society.

In broadsheet newspapers, television shows and Hollywood films, capitalism is increasingly recognized as a system detrimental to human existence. Colin Cremin investigates why, despite this de-robing, capitalism remains a powerful and seductive force. Using materialist, psychoanalytic and linguistic approaches, Cremin shows how capitalism, anxiety and desire enter into a productive/destructive relationship. He identifies three related kinds of social engagement. These are enterprise and employment, ethics and left-oriented social action, and enjoyment and consumption. As these ideological strands overlap and reinforce one another, the exploitation, violence, injustice, alienation and ecological destruction the system breeds is revealed, but not necessarily identified or addressed as a failure of capitalism.The nuanced and sophisticated argument in "Capitalism's New Clothes" goes a long way to explaining the contradictions of contemporary existence under a system that has been revealed as damaging and regressive, but is more dominant than ever.

Never before has the idea of democracy enjoyed the global dominance it holds today, but neoliberalism has left the practice of democracy finds itself in deep crisis. Marianne Maeckelbergh argues that the most promising model for global democracy is not coming from traditional political parties or international institutions, but from the global networks of resistance to neoliberal economics, known collectively as the Alter-globalization movement. Through extensive ethnography of decision-making practices within these movements, Maeckelbergh describes an alternative form of global democracy in the making. Perfect for activists and students of political anthropology, this powerful and enlightening book offers radical changes.

The emergence of an increasingly global economy has involved changes in production, improvements in technology, and the liberalization of international trade and finance. Critics of neoliberalism are concerned that in the new economic environment, many firms do not act responsibly, failing to play by the spirit of market rules or to live up to their obligations to key stakeholder groups. Furthermore there is not the same economic institutions and legal frameworks in place in the international realm that we have in the domestic realm to ensure that the economy functions in line with basic principles of market competition.

In this context of contestation about the desirability of the neoliberal variant of globalization, there has been a sharp rise of non-state regulatory initiatives. This book investigates the manner in which and the degree to which non-state initiatives that regulate the activities of business contribute to inclusive development, especially the development prospects of the most vulnerable sectors of society. The collection includes a variety of individual cases as well as some theoretical and comparative pieces.

Asia is rapidly becoming a major contributor of global greenhouse gas emissions. Also many countries in the region are highly vulnerable to impacts of climate change. With a growing consensus that there is limited time to avoid dangerous climate change, scientists, engineers, economists and policymakers worldwide have begun exploring how developing Asia can capitalize on the transition to a climate-smart development paradigm. Most discussions, however, have focused primarily on the transfer of technologies from developed to developing countries and have overlooked other equally important issues such as financing, governance, and capacity. This book covers all critical aspects of climate-smart development and attempts to integrate both market-based and technology-based solutions into a comprehensive approach for creating a roadmap for low carbon, climate-resilient economies in Asia. It examines strategies, policies and incentives in selected countries for reducing greenhouse gas emissions in the energy, transportation, land use, and buildings sectors. It also identifies policies that are essential to improve resilience to both current and future impacts of climate change. The book highlights technical, economic, financial, and institutional challenges and opportunities for realizing climate-smart development in Asia at the national and sub-national levels. How the international climate regime can facilitate appropriate enabling environment in developing Asia is also examined. This book is essential reading for policy makers, students, practitioners, and researchers concerned with climate change mitigation and adaptation, and sustainable development in Asia and the wider world. It is hoped that the book will contribute to discussions on the theme of "green economy in the context of sustainable development and poverty eradication" in the run-up to the United Nations Conference on Sustainable Development or "Rio +20" and beyond.

Asia is rapidly becoming a major contributor of global greenhouse gas emissions. Also many countries in the region are highly vulnerable to impacts of climate change. With a growing consensus that there is limited time to avoid dangerous climate change, scientists, engineers, economists and policymakers worldwide have begun exploring how developing Asia can capitalize on the transition to a climate-smart development paradigm. Most discussions, however, have focused primarily on the transfer of technologies from developed to developing countries and have overlooked other equally important issues such as financing, governance, and capacity. This book covers all critical aspects of climate-smart development and attempts to integrate both market-based and technology-based solutions into a comprehensive approach for creating a roadmap for low carbon, climate-resilient economies in Asia. It examines strategies, policies and incentives in selected countries for reducing greenhouse gas emissions in the energy, transportation, land use, and buildings sectors. It also identifies policies that are essential to improve resilience to both current and future impacts of climate change. The book highlights technical, economic, financial, and institutional challenges and opportunities for realizing climate-smart development in Asia at the national and sub-national levels. How the international climate regime can facilitate appropriate enabling environment in developing Asia is also examined. This book is essential reading for policy makers, students, practitioners, and researchers concerned with climate change mitigation and adaptation, and sustainable development in Asia and the wider world. It is hoped that the book will contribute to discussions on the theme of "green economy in the context of sustainable development and poverty eradication" in the run-up to the United Nations Conference on Sustainable Development or "Rio +20" and beyond.

The Economics of Technology Transfer presents a selection of the most important articles in the field, many of which are not easily accessible. The volume pays particular attention to issues facing developing countries in the context of rapid technical change, globalisation of production and the international spread of innovation itself. Part I focuses on theory and concepts. Part II, which examines multinationals, deals with the main engines of technology development and transfer. Part III discusses developing countries, pointing to the possible conflict between internalised technology transfer (via multinational enterprises) and the needs of domestic technological capability building. The final two parts include papers on technology transfer processes and issues in selected countries of Latin America, East Asia, the transition economies and the mature industrial economies. The Economics of Technology Transfer will be essential reading for students, researchers and policy makers concerned with international technology transfer.

This book presents a collection and analysis of original policy documents, newly translated into English, from a key period of Chinese development, providing both a current and a retrospective analysis of China's economic reform efforts. Topics dealt with include the evolution of Chinese economic strategy; economic planning and the spread of market mechanisms; technology transfer in industry; evolution of an agricultural system; the development of population policy; and foreign economic relations. The collection will be of great interest not only to scholars and students of Chinese studies, but also to professionals and social scientists concerned with China but unable to read source documents in Chinese.

Concluding the Commodore trilogy, this book takes a look at Commodore's resurgence in the late 1980's and then ultimate demise. This was a period of immense creativity from engineers within the company, who began “moonshot” projects using emerging CD-ROM technology. Get to know the people behind Commodore's successes and failures as they battle to stay relevant amidst blistering competition from Nintendo, Apple, and the onslaught of IBM PC clones. Told through interviews with company insiders, this examination of the now defunct company traces the engineering breakthroughs and baffling decisions that led to the demise of Commodore.

During the 1990s over two dozen countries in Europe and Asia underwent a transition from centrally planned to more market-oriented economies. In Constructing a Market Economy, Richard Pomfret reviews their diverse experiences and assesses the outcome of transition in each case. The book includes an extensive review of empirical evidence and, uniquely, aims to cover all the transition economies in a comparative fashion rather than focusing on any particular country. The author discusses the evolving thinking surrounding transition as shaped by experiences, tracing out the shifting emphasis from macro to micro issues and increased concerns about governance and institutions. By placing each transition within its historical context and paying attention to variations across countries and over time, the book draws conclusions about the key elements of a market economy and how they can be achieved. Researchers and academics will warmly welcome this addition to the transition studies literature as will those interested in development studies.

Powerful financial forces have supported the neoliberal project since the 1980s to advance their interests; but there are now signs that these forces have a new face and a new strategy. The majority of the British finance sector threw its support behind Britain leaving the European Union, a flagship institution of neoliberalism. Beyond this counterintuitive move, what was really happening and why? Alt-Finance examines a new authoritarian turn in financialised democracies, focusing on the City of London, revealing a dangerous alternative political project in the making. In a clash with traditional finance, the new behemoths of financial capital - hedge funds, private equity firms and real estate funds - have started to cohere around a set of political beliefs, promoting libertarian, authoritarian, climate-denying and Eurosceptic views. Protecting investments, supressing social dissent and reducing state interference are at the core of their mission for a new world order. By following the money, the authors provide indisputable evidence of these worrying developments. Through a clear analysis of the international dealings of this new authoritarian-libertarian regime, not just in Britain but in the US and Brazil, we can understand how our world is being shaped against our will by struggles between dominant groups.

This book offers a timely analysis of work and labor processes and how they are rapidly changing under globalization. The contributors explore traditional sectors of the U.S. and world economies - from auto to steel to agriculture - as well as work under new production arrangements, such as third world export processing zones. Many chapters analyze changing dynamics of gender, nationality, and class. The contributors explain why more intensified forms of control by the state and by capital interests are emerging under globalization. Yet they also emphasize new possibilities for labor, including new forms of organizing and power sharing in a rapidly changing economy.

From the Arab Spring to the Occupy and Tea Party movements, the "What now?" solution to economic disparity and power politics has largely been largely unarticulated. This work details how the Golden Rule ethic and a technology-driven global consciousness are causing epic shifts in our economic and governing systems. The evolution from nation-state capitalism to a global economy with judicial governance is proving that prosperity is compatible with peace. With ten case studies of successful "Golden Rule" - organizations and an innovative study of the reciprocal ethic, the book provides accessible thought-provoking analysis of rapid worldwide change, and forecasts a future of freedom, purpose and hope.

Although China's economy has grown very rapidly in recent decades, there are still very large differences between the economy of mainland China and the economies of Hong Kong, Macau and Taiwan. For example, per capita income in Hong Kong is many, many times higher than per capita income in mainland China. This book considers the degree to which economic convergence between mainland China, Hong Kong, Macau and Taiwan has occurred, and the prospects for increased convergence in the future. It considers economic integration between China and its two Special Administrative Regions (SARS), emphasising the large volume of capital flows and exports, especially from Hong Kong into China, and showing that the economies are highly integrated, despites their differences. It examines income convergence, and changes in productivity, using the same measures for both China and the two SARS, unlike most existing studies. It explores how economic reforms have been crucial to increasing convergence so far, and will continue to be in the future, and concludes by discussing the implications for policy of encouraging increased convergence.

For over three decades neoliberalism has remained the dominant economic ideology. Whilst it may have emerged relatively unscathed from the global financial crisis in 2008, neoliberalism is now - more than ever - the focus of intense scrutiny and debate from critics who argue that it has failed to live up to its many promises delivering instead an increasingly unequal and unhappy world. This book offers a nuanced and probing analysis of the meaning and practical application of neoliberalism in the contemporary world. It guides readers through the current debates around the definition and character of neoliberalism, separating myth from reality and outlining competing approaches to this pervasive doctrine. Drawing on examples such as the growth of finance, the role of corporate power and the rise of workfare and inequality, the book advances a balanced but distinctive perspective on neoliberalism as involving the interaction of political economic ideas, processes of material economic change and a series of political transformations. It also considers the resilience of neoliberalism in the current climate of political disenchantment and economic austerity and explores what some proclaim as the impending death of neoliberalism and what can be done about it. Clearly and accessibly written, this book will be a valuable resource for students and scholars across the social sciences

Options Markets presents an authoritative collection of the most important articles and papers on derivatives published during the last 35 years. These three volumes offer a unique and convenient resource for the reader to review the most important research at the frontier of this rapidly expanding area of financial economics. Topics include the theory, pricing and empirical evidence on equity derivatives, fixed-income derivatives, exotics, real options, numerical methods and risk management.As a comprehensive and integrated collection of articles, Options Markets is an invaluable companion to intermediate and advanced textbooks on derivatives. The historical perspective provided in this collection and the distinctiveness of its articles will appeal to both the applied and the theoretical researcher seeking fresh insights into derivatives.

The use of economics to study law was pioneered by the Austrian School of Economics. The nineteenth century founders of the school believed that economics could contribute to understanding the spontaneous development of common law as well as the nature of legal rights. For this insightful research review Mario Rizzo has selected key papers from today's vibrant Austrian School, focusing on the study of property, market-chosen law, slippery-slope analysis, entrepreneurship, institutions, decentralized social knowledge, and the evolution of legal institutions. This title represents the cutting-edge Austrian contributions to economics and will be an essential reference source for both students and researchers.

Once in a while the world astonishes itself. Anxious incredulity replaces intellectual torpor and a puzzled public strains its antennae in every possible direction, desperately seeking explanations for the causes and nature of what just hit it. 2008 was such a moment. Not only did the financial system collapse, and send the real economy into a tailspin, but it also revealed the great gulf separating economics from a very real capitalism. Modern Political Economics has a single aim: To help readers make sense of how 2008 came about and what the post-2008 world has in store. The book is divided into two parts. The first part delves into every major economic theory, from Aristotle to the present, with a determination to discover clues of what went wrong in 2008. The main finding is that all economic theory is inherently flawed. Any system of ideas whose purpose is to describe capitalism in mathematical or engineering terms leads to inevitable logical inconsistency; an inherent error that stands between us and a decent grasp of capitalist reality. The only scientific truth about capitalism is its radical indeterminacy, a condition which makes it impossible to use science's tools (e.g. calculus and statistics) to second-guess it. The second part casts an attentive eye on the post-war era; on the breeding ground of the Crash of 2008. It distinguishes between two major post-war phases: The Global Plan (1947-1971) and the Global Minotaur (1971-2008). This dynamic new book delves into every major economic theory and maps out meticulously the trajectory that global capitalism followed from post-war almost centrally planned stability, to designed disintegration in the 1970s, to an intentional magnification of unsustainable imbalances in the 1980s and, finally, to the most spectacular privatisation of money in the 1990s and beyond. Modern Political Economics is essential reading for Economics students and anyone seeking a better understanding of the 2008 economic crash.