NYT and WSJ bestselling author Charlene Li guides business leaders deeper than ever before into the uncomfortable and ever-changing terrain of the digital era Technology has revolutionized the very idea and nature of relationships between leaders and their followers. Yet, many leaders remain stuck at arms-length from those they lead and serve, relying on specialized teams to interact with customers, their direct reports to keep tabs on how employees are doing, and on the digital natives in their organization to stay abreast of new technologies. Now, in The Engaged Leader: A Strategy for Your Digital Transformation, Li helps leaders adapt to the demands, and opportunities of digital leadership. To be a true digital leader requires a metamorphosis: you must connect directly by listening, sharing, and engaging using digital technologies. This metamorphosis is not easy, comfortable, or painless—if your palms aren't sweaty or your stomach isn't churning, then you probably aren't really practicing digital leadership. The Engaged Leader addresses why leaders need to master a new way of developing relationships, which begins by stepping out of traditional hierarchies; how to listen at scale, share to shape, and engage to transform; the art of making this transformative mind shift; and the science of applying the right tools to meet your strategic goals. This transformation is not optional. Those who choose not to make this change will be abandoned for those who inspire people to follow them. The Engaged Leader provides leaders with the skills and confidence they need to transform their leadership, and in turn, their organizations. The Engaged Leader also provides guidance to institutions—businesses, communities, and schools—on how to develop and nurture digital leadership. It is a must read for anyone who values a deeper connection between leaders and those they serve.

This book investigates the EU's regional growth dynamics and, in particular, the reasons why peripheral and socio-economically disadvantaged areas have persistently failed to catch up with the rest of the Union. It shows that the capability of the knowledge-based growth model to deliver its expected benefits to these areas crucially depends on tackling a specific set of socio-institutional factors which prevents innovation from being effectively translated into economic growth. The book takes an eclectic approach to the territorial genesis of innovation and regional growth by combining different theoretical strands into one model of empirical analysis covering the whole EU-25. An in-depth comparative analysis with the United States is also included, providing significant insights into the distinctive features of the European process of innovation and its territorial determinants. The evidence produced in the book is extensively applied to the analysis of EU development policies.

A regulatory idea conducted this work: the need to connect the economic rationale of the theory of currency areas with the current EU institutional frame of the European monetary unification process. The latter includes the recent revamping of fiscal rules of the Stability and Growth Pact, and calls for enhancing flexicurity in EU labour markets. The lack of EU political leadership is a dead-weight loss to build a genuine economic and monetary union, and risks to blow-up the whole project. Further, it undermines the internal macroeconomic logic of a single currency like the euro, and gives a prominent non-democratic role to financial markets. As it happened in the past with the gold-standard, the euro condemns today the peripheral countries to a deflationary process which might last for a decade. A more pro-European approach is needed with both sides of the system (core and periphery) making the required adjustment efforts, though in the opposite way, to save the eurozone and Europe.

The theory of optimal currency areas remains the essential framework to understand the design failures of the eurozone. In order to understand these dramatic economic developments that grip the eurozone, Sanchis i Marco s book is the right one at the right time. He does a superb job in explaining this theory and in making it relevant for our understanding of the problems faced by the eurozone. The last two chapters of the book turn towards an analysis of the crisis of the euro and how to get out of this crisis. By suggesting a path out of the crisis, Professor Sanchis i Marco leaves us with some hope for the future for Spain and other eurozone countries.

Prof. Paul De Grauwe, London School of Economics"

This book s essays discuss human behavior and the institutions of capitalism. The essays are non-technical and are written so as to be accessible to students of all disciplines and to all other persons interested in capitalism and in economic behavior. They often present unconventional views of the topics they discuss. Those containing unconventional views discuss self-interested behavior, selfish gene theory, the meaning and social function of private ownership, the externality problem, the nature of the firm, and the rise of capitalism. The essays are not meant to be a textbook, but they offer a useful supplementary reading source for courses in business, economics, and law that deal with human behavior in the marketplace and with capitalism, ownership, markets, and firms.

Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and painful involuntary unemployment are endogenous to capitalism. Drawing especially on the work of Wesley Clair Mitchell, Karl Marx, and John M. Keynes, Sherman explains why the nature of the business cycle produces serious economic loss and misery during its contraction phase, just as it produces growth in its expansion phase.

Originally published in 1992.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Economic development has cyclical dynamics and long-term dynamics - the latter are typically related to demographical changes, innovation and long-term insti- tional changes in open economies. Financial markets - that means mainly capital markets - and labor markets are affected in OECD countries both by innovations and institutional reforms. As regards demographics ageing is a typical challenge on both sides of the Atlantic, and pension reforms in industrialized countries have placed greater emphasis on capital markets than in previous decades. Innovation dynamics certainly are also quite important for all high wage OECD countries. The Lisbon Agenda has put particular emphasis on more growth, higher innovation dynamics and better exploitation of the advantages of a digitally networked society. Traditionally, the US has a lead in global innovations, and the US policy certainly has contributed to the American technological leadership. There still is a per capita income gap in favor of the US and the US labor market situation also looks relatively favorable, but in the ?ve years since 2001 employment growth in the euro area was higher than that of the US. The euro area is, however, a rather heterogeneous set of countries which differ in terms of institutions, attitudes and reform progress - and everywhere governments are aware that there have to be reforms, not least in the context of globalization which bring a more complex and dynamic spatial structure of value-added.

The evaluation of public policies is of paramount importance for modern policy making, especially in a period of severe budget constraints. The literature has proposed several methods to deal with the issue of causality and counterfactual evaluation in a variety of contexts, with an increasing attention to the local dimension. The book aims to present the state-of-the-art of evaluation techniques with a special focus on the consideration of geographical and spatial effects into existing methodologies (such as propensity score matching, regression discontinuity, difference-in-difference). Furthermore, the volume highlights how strict the identification conditions for models with spatial effects are and proposes instrumental variables as a technique able to circumvent the issue. Finally, some insights into the emerging literature on ex ante evaluation are offered with respect to EU Cohesion Policy.

"Property and Prophets" is a concise history of the rise and subsequent triumph of capitalism. Focused primarily on England until 1800 and the United States since 1800, the book's economic history is interspersed with the history of ideas that evolved along with the capitalist system.

This publication compares for the first time how the regions in seven different countries (Austria, Belgium, France, Germany, Italy, Spain and the UK) are involved in EU governance. It is also the first book which tackles this matter from two different perspectives; that of EU law and that of comparative law. It includes contributions both from well-established scholars in the field of EU law and from younger scholars.

In ten years 80 per cent of the legislation related to economics, maybe also to taxes and social aff airs, will be of Community origin." This declaration has been largely quoted, paraphrased and deformed by different authors, creating a persistent myth according to which 80% of the legislative activity of the national legislatures would soon be reduced to the simple transposition of European norms". This book addresses the topic of the scope and impact of Europeanization on national legislation, as a part of the Europeanization debate which raises normative concerns linked to the "democratic deficit" debate. The state of the art shows that there are many assumptions and claims on how European integration may affect national legislation and, more generally, domestic governance but that there is a lack of solid and comparative data to test them. The aim of the book is to give a solid and comparative insight into Europeanization focusing on effective outcomes in a systematic way. This book analyzes the period 1986-2008 and includes an introduction, a global overview of European legislative activities which set the background for Europeanization of national legislatures, 9 country contributions (8 EU member states + Switzerland) including systematic, comparative and standardized data, tables and figures, and a conclusion with a comparative analysis of the European and domestic reasons for Europeanization. All national contributions conclude that Europeanization of national legislation is much more limited than assumed in the literature and public debate. It is limited to 10 to 30% of laws (depending on the country), far less than the 80% predicted by Jacques Delors and mentioned daily by medias and public opinion leaders to demonstrate EU domination on member states. Beside that general statement, the various chapters propose a deep insight on EU constraint over national legislation, providing much information on the kind of laws and policies that are Europeanized, the evolution of this process through time, the impact of Europeanization on the balance of powers and the relations between majority and opposition at national level, the strategies developed by national institutions in that context, and many other issues, making the book of interest to academics and policy-makers concerned with Europeanization and national legislation.

"Money from Nothing" explores the dynamics surrounding South Africa's national project of financial inclusion--dubbed "banking the unbanked"--which aimed to extend credit to black South Africans as a critical aspect of broad-based economic enfranchisement.
Through rich and captivating accounts, Deborah James reveals the varied ways in which middle- and working-class South Africans' access to credit is intimately bound up with identity, status-making, and aspirations of upward mobility. She draws out the deeply precarious nature of both the aspirations and the economic relations of debt which sustain her subjects, revealing the shadowy side of indebtedness and its potential to produce new forms of oppression and disenfranchisement in place of older ones. "Money from Nothing" uniquely captures the lived experience of indebtedness for those many millions who attempt to improve their positions (or merely sustain existing livelihoods) in emerging economies.

Economic crisis tends to spur change in the 'rules of the game' - the 'institutions' - that govern the economic activity of firms and employees. But after more than a decade of economic pain following the burst of the Japanese Bubble Economy of the 1980s, the core institutions of Japanese capitalism have changed remarkably little. In this systematic and holistic assessment of continuity and change in the central components of Japanese capitalism, Michael A. Witt links this relatively slow rate of institutional change to a confluence of two factors: high levels of societal co-ordination in the Japanese political economy, and low levels of deviant behavior at the level of individuals, firms, and organizations. He identifies social networks permeating Japanese business as a key enabler of societal co-ordination and an obstacle to deviancy, and sheds light on a pervasive but previously under explored type of business networks, intra-industry loops. Includes a Foreword by Gordon Redding.

Hungary: Towards a Market Economy, first published in 1998, offers a comprehensive assessment of the Hungarian economy, and follows its evolution in the immediate aftermath of the revolutions in Central and Eastern Europe. Part I describes the macroeconomy, the evolution of monetary policy, the link between the exchange rate and inflation, the inability of fiscal policy to come to terms with public debt and deficits and the evolution of the underground economy. Part II focuses on the microeconomy; the consolidation of the banking sector, the evolution of corporate governance and an analysis of the profitability of export-orientated firms. The final part assesses the labour market and the system of welfare. Hungary: Towards a Market Economy is part of the successful sequence of volumes on major topics in international economics published under the auspices of the Centre for Economic Policy Research, of interest to both policy-makers and specialists.

In light of the handover from the European Central Bank President Mario Draghi to Christine Lagarde in November 2019, this book provides an in-depth analysis of the events which unfolded since the euro area sovereign debt crisis in 2010 up until today. The book focuses on the far-reaching implications of the last decade, shedding light on a wide spectrum of political, economic and financial aspects of the European poly-crises and how monetary policy reacted to these challenges. The book places particular emphasis on the tensions that the supranational central bank was subject to during this period, and on their outcomes in terms of the policies, their legitimacy, and their public reception. As such, this book will be relevant not only to understand the political implications of the past crisis but also, and foremost, in understanding "what is next".

This volume examines trends in inequality in the People's Republic of China. It contains findings on inequality nationwide, as well as within the rural and urban sectors, with an emphasis on public policy considerations. Several chapters focus on inequality of income; others analyse poverty, inequality in wealth, and the distribution of wages. Attention is given to groups such as migrants, women, and the elderly, as well as the relationship between income and health care funding and the impact of the rural tax reform. All contributors to this volume make use of a large, nationwide survey of Chinese households, the product of long-term co-operation between Chinese and international researchers that is unique in its scope and duration. Using these data, the contributors examine changes in inequality from 1988 to 2002.

This book describes and evaluates how institutional innovation and technological innovation have impacted on humanity from pre-historical times to modern times, and how societies have been transformed in history. The author interrogates the relationship between innovation and civilisation -- particularly the dynamic whereby innovation leads to empire-building -- and explores innovation efforts that stimulated economic and social synergies from the Babylonian Empire in 1900 BC up to the British Empire in the twentieth century. The author uses historical cross-cultural case studies to establish the factors which have given competitive advantages to societies and empires. This book will be of interest to researchers and students in political economy, economic history, economic growth and innovation economics.

In the last few years research on regional development has increased dramatically. Real-world concerns have - to a certain extent - driven this scientific concern of interest. The field has been given a big boost in particular by the process of European integration and the attempt to understand how this deeper integration will work at the regional level. This volume makes a modest attempt to reconsider the issue of regional development mainly from an European perspective and in the light of the transition of society towards a knowledge-driven economy. It originated from the Thirteenth European Advanced Studies Institute in Regional Science, held in Istanbul, July 2-8, 2000. In producing the book, as friends and colleagues, we have benefited from the possibility of exchange of ideas and experience. We have also received useful assistance from the referees who have offered observations and advice in their written reports. The soundness of their comments has contributed immensely to the quality of the volume. We should, in addition, like to acknowledge the timely manner in which contributing authors have responded to our requests, and their willingness to follow the stringent editorial guidelines.

Since the end of the Cold War, the human face of economics has gained renewed visibility and generated new conversations among economists and other social theorists. The monistic, mechanical "economic systems" that characterized the capitalism vs. socialism debates of the mid-twentieth century have given way to pluralistic ecologies of economic provisioning in which complexly constituted agents cooperate via heterogeneous forms of production and exchange. Through the lenses of multiple disciplines, this book examines how this pluralistic turn in economic thinking bears upon the venerable social-theoretical division of cooperative activity into separate spheres of impersonal Gesellschaft (commerce) and ethically thick Gemeinschaft (community). Drawing resources from diverse disciplinary and philosophical traditions, these essays offer fresh, critical appraisals of the Gemeinschaft / Gesellschaft segregation of face-to-face community from impersonal commerce. Some authors issue urgent calls to transcend this dualism, whilst others propose to recast it in more nuanced ways or affirm the importance of treating impersonal and personal cooperation as ethically, epistemically, and economically separate worlds. Yet even in their disagreements, our contributors paint the process of voluntary cooperation - the space commerce and community - with uncommon color and nuance by traversing the boundaries that once separated the thin sociality of economics (as science of commerce) from the thick sociality of sociology and anthropology (as sciences of community). This book facilitates critical exchange among economists, philosophers, sociologists, anthropologists, and other social theorists by exploring the overlapping notions of cooperation, rationality, identity, reciprocity, trust, and exchange that emerge from multiple analytic traditions within and across their respective disciplines.

The entire world was taken by surprise when 1990 brought an end to Soviet communism in Europe and thus a genuine end to World War II. The fact that these developments surprised not only the leaders and the people of the countries concerned, but also scholars is an extraordinary challenge to the students of Soviet-type economics. In the academic world, where predictive force is one of the key indicators of a successful theory, this weak performance calls into question the validity of earlier findings and interpretations. Something was wrong in the general framework. Socialist Investment Cycles offers an explanation of this failure. Socialist Investment Cycles is the first monograph in English on investment fluctuations in planned economies, a chapter in history. While providing a broad overview of the literature on socialist investment cycles, as well as a quantitative description of the actual processes, the author puts forth a new framework for understanding investment fluctuations. In this framework socialist planners were able to adjust the volume of investments without risking the fulfillment of politically more sensitive target variables. Socialist Investment Cycles encompasses all thirty-five countries which were ruled by communism and is the first study to penetrate deeply into the data problem, country by country, and series by series. Socialist Investment Cycles has been written after the collapse of Soviet-type communism in Eastern Europe, the USSR, and the countries of Asia and Africa. It thus offers a retrospective view on both the theory and practice of socialist economies.

Thorvald Stoltenberg Ambassador Chairman of the Editorial Advisory Board Most of us have been overwhelmed by the speed and extent of the changes that have been taking place in Europe since the late 1980s. Over the span of a few years, we have witnessed the collapse of the Soviet Union and the unification of Ger many. This process has had far-reaching implications for Northern Europe: the Baltic states have attained independence, and with the establishment of the Baltic Sea regional co-operation and the Barents co-operation, a new type of East-West relations has come into being. The process of change continues. Its latest manifestation is the agreement between Russia and NATO, and NATO and EU enlargement is expected to take place over the next few years. With such far-reaching transformations, we need to reflect on what is hap pening. We need a more coherent picture of the new situation in Northern Europe and of where we are heading. This Yearbook is an attempt to fulfil this need. I would like to thank the editors for taking this initiative, which has been long awaited by those of us who have been actively interested in the improved relations between the former East and the old West that have been made possible by the end of the Cold War - and particularly in the new opportunities for cross-border co-operation and integra tion in the North European and Baltic space."

Contemporary capitalistic systems have been undergoing profound transformations determined by the transition towards the so-called knowledge based economy, i.e. a competitive system based on the capabilities firms have to create, use and circulate knowledge. These transformations concern both the characteristics of productive and innovative processes, and the resources used in these activities. This book captures these changes, where traditional R&D investments undertaken internally by firms are increasingly and strategically complemented by external sources of innovation and new knowledge.

Collaborations between firms, and between firms and other organizations, as well as the mobility of human capital, are strategic processes in order to share and circulate knowledge and competencies. They are also key determinants in the creation of new knowledge and innovation, and ultimately in growth dynamics. The circulation and distribution of knowledge is now a key input in the production of knowledge. Knowledge and innovation are understood as the result of collective and interactive processes at the system level, and less at the micro level. In other words, new knowledge production is less and less the result of individualistic behaviours of the firms and much more the effect of explicit and pro-active interactions and transactions put in place by local networks of innovators. In this perspective, economic space is much more defined by the quality of the interactions among actors rather than by their mere technological, sectoral or geographical proximity.

This book brings together new conceptual and empirical contributions and blends the analysis of the technological and geographical spaces in which innovation and knowledge are produced.

Why do some privatisations apparently fail to produce expected positive results? Economic theory tells us that privatisation should improve efficiency, but this book, originally published in 1998, suggests that political bargaining in the process of privatisation works against the results we expect to achieve. To gain a better understanding of what privatisation is really about, power at a firm level needs to be understood. Privatisation is a gradually unfolding, evolutionary process, often with defective corporate governance. Politicking can take priority over performance, with the result that efficiency is ignored and profitability is affected. This is a comprehensive book on privatisation which focuses on micro-level behavioural issues and it uses exceptionally rich case evidence to illustrate that privatisation is more about politics than performance.

In this addition to the award-winning Church and Postmodern Culture series, respected theologian Daniel Bell compares and contrasts capitalism and Christianity, showing how Christianity provides resources for faithfully navigating the postmodern global economy.
Bell approaches capitalism and Christianity as alternative visions of humanity, God, and the good life. Considering faith and economics in terms of how desire is shaped, he casts the conflict as one between different disciplines of desire. He engages the work of two important postmodern philosophers, Deleuze and Foucault, to illuminate the nature of the postmodern world that the church currently inhabits. Bell then considers how the global economy deforms desire in a manner that distorts human relations with God and one another. In contrast, he presents Christianity and the tradition of the works of mercy as a way beyond capitalism and socialism, beyond philanthropy and welfare. Christianity heals desire, renewing human relations and enabling communion with God.

Chinese culture has a very long and extraordinary tradition. With China's rapid economic growth and a population of more than one billion people, China has become a very important market for many companies. In order to conduct business in a particular country, it is necessary to also understand the culture of that country. After all, culture influences people's behavior and communication - also in the world of business. That is why an understanding of a country's culture is crucial when communicating with all relevant stakeholders including its consumers, businesses, employees, and government authorities. This eighth volume of the Freiberger Beitrage seeks to provide some essential insights into Chinese culture to help improve transactions and relationships with Chinese stakeholders. The contributing authors help explain the various facets of Chinese culture revolving around communication, business negotiations, and conflict management.

This book is a concise treatise of the alternative paradigms used in BRICS countries to tackle urban housing shortages. There are a number of alternative methods for meeting these shortages which BRICS countries have adopted. These alternatives may agree in terms of desired outcome, but when it comes to approach, mechanics and scope, they are entirely divergent. By focusing on the political economy and the international structure of each BRICS country, these perspectives present alternative and often conflicting approaches to the attainment of better housing. Development Paradigms for Urban Housing in BRICS Countries explores the various political, economic, institutional and cultural factors that have shaped the housing outcomes in BRICS countries that we see today. The book uses a framework which allows comparison between Brazil, Russia, India, China and South Africa, whilst recognizing the differences in the development path that each of these countries has taken.