This book brings together a diverse range of responses to China's Marine Silk Road Initiative, which proposes to redraw the map of Asia, particularly South Asia. China's 21st Century Maritime Silk Road Initiative (MSRI) is a massive scheme to connect wide swaths of East, Southeast, South, and West Asia through a dense web of interconnected hard and soft infrastructure involving ports, roads, logistics facilities, special industrial zones, and free trade and investment agreements. This book will be invaluable for students of Chinese foreign security and foreign economic policy, those interested in South Asia including Indian foreign security and economic policy as well as Indian relations with China, those attentive to international economic developments in East and South Asia, and those interested in the political and economic situation in specific MSRI participant countries such as Pakistan, Maldives, and Sri Lanka as well as their political and economic relations with China.

A market economy is the only mechanism that can create jobs, distribute wealth, spur economic growth, and stabilize the economy for all. However, the current American market economy is not working - it is helping the "1%" instead of distributing wealth and yet simultaneously convincing the "99%" that this market is the only way to create jobs. The current unchecked system allows those wealthy few to "steal the American dream," as Hedrick Smith claimed. In order for the United States to grow the economy, the current system must first be modified to level the playing field, and then must be used to develop the market system's originally intended purpose: improving the quality of life for all.
In this follow up to From a Market Economy to a Finance Economy, Samli reflects on his more than half a century of economic experience and research, maintaining that financiers, the government, and many decision makers in both politics and the economy, do not really support the "free market." He puts forth key ideas for using the market mechanism correctly to benefit all Americans.

This volume contains papers presented in a workshop of international experts in September 2008 in Berlin. The experts discussed how environmental consequences of EU legislation can be incorporated in a more effective way. In other words, this contribution focuses on the question of which measures can strengthen the cons- eration of environmental effects in the EU impact assessment procedure and in the subsequent legislative decision-making process. This allows drawing conclusions for the impact assessment process in Germany. This volume begins with an introductory paper (Bizer/Lechner/Fuhr) which served as the basis for discussion in our workshop. The questions raised in this paper are addressed by the authors of the subsequent chapters. Stephen White (DG Environment, EU-Commission) discusses the impact assessment from an int- nal perspective within the Commission. Pendo Maro (European Environmental Bureau) reviews the impact assessment practice from the perspective of an en- ronmental NGO. Martin Schmidt et al. discuss the potential for more formalism to strengthen environmental issues within impact assessments and favour a checklist."

The book is a collection of contributed papers in honor of Roy Radner. Reflecting Radner's broad range of research interests, the papers cover quite diverse areas, ranging over general equilibrium analysis of the market mechanism, economies undergoing transition, satisficing behavior, markets with asymmetric information, organizational resource allocation and information processing, incentives and implementation, stable sets and the core, stochastic sequential bargaining games, perfect equilibria in a macro growth model, repeated games, and evolutionary games.

Structural change, economic growth and adequate exchange rate adjustment are key challenges in the context of EU eastern enlargement as are consistent macroeconomic policies. The authors focus on sectoral adjustment across industries in catching-up countries and explain changes in the composition of output this includes new aspects of the Chenery model. They describe and analyze the spatial pattern of specialization and adjustment in many countries. Theoretical and empirical analysis of foreign direct investment, innovation and structural change shed new light on economic dynamics in Old Europe and New Europe. As regards exchange rate dynamics both traditional aspects (such as the Balassa-Samuelson effect) and new approaches to understanding exchange rate developments are presented. Links between exchange rate changes and innovation are particularly emphasized.

This text offers detailed analysis and informed comment on the future of emerging economic policies. It is essential reading for all postgraduates and scholars looking for expert discussion and debate on the issues surrounding economic policy.

The book analyzes different critical attitudes towards European integration from a multidisciplinary perspective. By applying both quantitative and normative-theoretical approaches, the contributors assess the causes and effects of the popularity of EU-critical positions and doctrines, such as souverainism, neo-nationalism and neo-populism. The book also presents country studies to compare populist movements and parties, such as the Five Stars Movement in Italy, Syriza in Greece and UKIP in the UK. It offers insights into the historical and normative roots of the diverse anti-European standpoints, and the various political demands and agendas connected with these views, ranging from rejections of EU institutions to demands for institutional reforms and propositions for alternative projects.

EU membership involves political and economic reforms
which influence financial markets in the new member states.
This study empirically explores and quantifies the effects of
EU accession on the risk and return of equity markets in eight
Central and Eastern European markets joining the EU in 2004.
The study also incorporates a review of how the influence of
macroeconomic variables and the level of integration with
global and European markets change as a result of
EU membership.
Based on empirical tests using weekly data over ten years,
this study concludes that EU membership results in a
significant decline in equity market volatility and a
significant increase in risk-adjusted, but not absolute,
equity returns. Furthermore, the study suggests that equity
markets in new EU member states become increasingly
influenced by global rather than local macroeconomic
factors after the EU accession and that the level of integration
with global markets increases.

Though the emerging sub-discipline of comparative political economy is now rich in studies of different advanced capitalisms, it still lacks a systematic consideration of the organizing frameworks and methodologies underpinning those studies. This definitive volume outlines the two great debates currently shaping the analysis of advanced capitalism. This book makes the case for a greater awareness of underlying theoretical issues in the design of empirical research, and demonstrates the value of exploring the interconnections between competing intellectual approaches.

This book analyses the fast spread of free trade agreements (FTAs) across the globe, their content and their economic impact. In the wake of Brexit and the new protectionism of President Trump, Melchior offers a timely assessment of key issues relating to FTAs. Dividing the world into seven major regions, he analyses world trade, the globalisation of FTAs and their role within and between the regions. Using a new world trade model, he then presents new evidence on the impact of trade agreements, the value of trade, the impact of China's growth and the West's industrial decline, and the role of reciprocity in trade policy. Covering rich and poor countries, commodity exporters and all of the world's regions, he offers new and original insights about a number of pertinent issues facing today's world.

We live in a time of transition, argues Yann Moulier Boutang. But the irony is that this is not a transition to a new type of society called 'socialism', as many on the Left had assumed; rather, it is a transition to a new type of capitalism. Socialism has been left behind by a new revolution in our midst. 'Globalization' effectively corresponds to the emergence, since 1975, of a third kind of capitalism. It does not have much to do with the industrial capitalism which, at the point of its birth (1750-1820), broke with earlier forms of mercantile capitalism. The aim of this book is to describe and explain the characteristics of this third age of capitalism.Boutang coins the term 'cognitive capitalism' to describe this new form of capitalism. While this notion remains a working hypothesis, it already provides some basic orientations and anchor points which are indispensible for political action. The political economy which was born with Adam Smith no longer offers us the possibility of understanding the reality which is being constructed before our eyes - namely the value, wealth and complexity of the world economic system o and it also does not enable us to deal with the challenges that await humanity, whether ecological or social. This book thus seeks to put us onto the path of a provisional politics and morality capable of dealing with this new Great Transformation.

This book develops a comprehensive systematic economic theory, conceiving how the dynamic of market relations generates an economy dominated by the competitive process of individual profit-seeking enterprises. The author shows how, contrary to classical political economy and contemporary economics, the theory of capital is an a priori normative account properly belonging to ethics. Exposing and overcoming the limits of the economic conceptions of Hegel and Marx, Rethinking Capital determines how the system of capitals shapes economic freedom, jeopardizing the very rights in whose exercise it consists. Winfield thereby provides the understanding required to guide the private and public interventions with which capitalism can be given a human face.

The author argues that the concept of class, far from being obsolete, is actually embodied in its modern form by the fusion of banking capital and industrial capital in Great Britain. He includes a detailed analysis of the main groupings of finance capital in England. Thiry-one such groups are identified in Appendix I, and Appendix II is an an analysis of bank directorships.

"Legislative Politics and Economic Power in Russia "is a study of the legislative actors and institutions that have shaped economic law making in Russia since 1990. Assessing the influence of partisan, bureaucratic, regional and corporate interests in Russia's post-communist parliaments, the book addresses questions that are crucially important for Russia's political stability and economic development. Can Russian political institutions act decisively to solve problems when they arise? Does this system of governance deliver credible, coherent and consistent policies? And, is the Russian state ultimately able to enact policies that address public interests and concerns?

The global wine industry is a continually modifying market impacted by financing, culture, and politics. Economics, Governance, and Politics in the Wine Market follows developments in European agriculture policies on wine legislation and market trend orientation between political power and market structure, from their inception through recent reforms. This political economic analysis seeks to explain the implementation of wine policies applied to production management in Europe. Gaeta and Corsinovi use The Public Choice model to describe bargaining and trade-off in agriculture wine policy by governments, producers, and critical industrial organizations. They argue that market problems cannot be analysed without an understanding of the motives and processes behind upstream policy decisions. With the book's theoretical approaches and famous case studies, readers become agricultural wine experts capable of navigating the current complex wine market of the European Union.

Privatization, with its ultimate objective of raising economic efficiency, has been central to the transformation of the economies of Eastern Europe and Russia. The perception of foreign direct investment in the privatization process of transitional economies is often shrouded in emotional prejudice and daily political needs and remote from rational economic considerations. Eastern Europe is no exception to this trend. This study identifies the presence of multinationals and their role in privatization in Eastern Europe. It binds together the current theoretical knowledge of foreign capital and privatization in transition economies with a close examination of the privatization policies and strategies in the Czech Republic, Hungary, Poland, Slovenia, Estonia and Russia.

"Globalization," surely one of the most used and abused buzzwords of recent decades, describes a phenomenon that is typically considered to be a neutral and inevitable expansion of market forces across the planet. Nearly all economists, politicians, business leaders, and mainstream journalists view globalization as the natural result of economic development, and a beneficial one at that. But, as noted economist Martin Hart-Landsberg argues, this perception does not match the reality of globalization. The rise of transnational corporations and their global production chains was the result of intentional and political acts, decisions made at the highest levels of power. Their aim - to increase profits by seeking the cheapest sources of labor and raw materials - was facilitated through policy-making at the national and international levels, and was largely successful. But workers in every nation have paid the costs, in the form of increased inequality and poverty, the destruction of social welfare provisions and labor unions, and an erratic global economy prone to bubbles, busts, and crises. This book examines the historical record of globalization and restores agency to the capitalists, policy-makers, and politicians who worked to craft a regime of world-wide exploitation. It demolishes their neoliberal ideology - already on shaky ground after the 2008 financial crisis - and picks apart the record of trade agreements like NAFTA and institutions like the WTO. But, crucially, Hart- Landsberg also discusses alternatives to capitalist globalization, looking to examples such as South America's Bolivarian Alliance for the Americas (ALBA) for clues on how to build an international economy based on solidarity, social development, and shared prosperity.

This book offers a comparative study of the Central and Eastern European and Turkish economies that analyzes the implications of EU enlargement. The contributors discuss issues related to the creation of a legal infrastructure that encourages entrepreneurial initiative, fair competition, market forces, and investor confidence. They assess the benefits of following prudent monetary and fiscal policies together with appropriate competition, trade, and foreign direct investment policies in Turkey and Central and Eastern Europe.

Stemming from the idea that economics is a social science that tends to forget its own history, this refreshing book reflects on the role of teaching with historical perspectives. It offers novel ways of integrating the history of economics into the curriculum, both in history of economic thought modules and in other sub-disciplines. Coming from a wide diversity of experiences, the contributors explore the idea that studying the history of thought exposes students to pluralism, and that it is therefore an essential pedagogical tool. They also argue that this method of teaching will reveal the historical contextualisation of current theories and show how they are the results of a specific evolution within the discipline. Ultimately, this book demonstrates how some modules have successfully operationalized both the history of economic thought and the teaching of various sub-disciplines from a historical perspective. Teaching the History of Economic Thought will be invaluable and enlightening for teaching and learning institutes across the academic world, as well as for economists, heterodox economists in particular, and social scientists. Contributors include: R. Bellofiore, G. Friedman, S. Fuller, J. Halevi, C. Repapis, L.-P. Rochon, S. Rossi, D. Tavasci, L. Ventimiglia

Drawing on comparative politics and social network analysis, this book examines how the domestic institutional and organizational settings, as well as the network governance patterns, determine variation in administrative responses to EU's Common Agricultural Policy (CAP) in two European Union (EU) member states, Denmark and Greece. These two small member states represent the North and South dimensions of the EU. The north-south dimension in relation to administrative structures, respond differently to EU common policies and to Common Agricultural Policy, specifically which has not been studied in the Europeanization literature. Even though, the study of administrative responses to EU common policies is important as it has been especially noticeable during the current financial crisis. Europeanisation studies concentrate on either large Western European states (France, Germany and UK) or small Western Northern states. These studies produced detailed knowledge on specific countries and policy areas but they ignored the agricultural policy area and the importance of small Southern member states. By comparing a small Southern with a small Northern state since the accession to the EU, this book aims to fill this gap in the literature. Moreover, by linking the findings of the two cases to the member states that joined the EU in the 2004 fifth enlargement, and in other policy areas, it allows a better understanding of similar responses, either adaptation or inertia."This book represents an important contribution to the theoretical and empirical literature on Europeanisation and the Common Agricultural Policy (CAP). It systematically tackles an under studied question: does Europeanisation of policies lead to administrative change and convergence among the member states? The domestic administration of the EU CAP has remained domestically designed and monitored, resulting in divergence among the member states and gaps and imbalances in the performance of EU CAP decisions. The CAP is of more general interest because it combines regulatory and market intervention policy instruments. The analysis proceeds through in depth comparative historical case studies of Denmark and Greece which uses a sophisticated combination of quantitative and qualitative methodologies. The authoritative and informative analysis is structured by a focus on three key domestic factors. There is differentiated administration of common policies and while administration succeeds and adapts in one state, it does not necessarily do so in others, leading to differences in implementation performance. This book should provide a stimulus for further research." Wyn Grant, University of Warwick The last 40 years have been crucial for the European agriculture. The Common Agricultural Policy fulfilled its primary objective, which led Europeans to shift its objectives and cope with the shortcomings created by the success of the Policy itself manage surpluses and narrow the gap between farmers, due to price mechanism as well as, adapt the policy following the successive enlargements and follow the developments in the global economy, in which we live nowadays. Dr. Chatzopoulou gives us a very accurate image on how differently actors of the agricultural economy, farmers, cooperatives and the administrations both in Greece and Denmark, behave. But also, how different is the structure of the sector in these two countries: in Denmark, almost everything is based upon a consensus, where there does not exist a law on cooperatives, and where the administration and the sector work together to adapt or to influence the decisions to take at European level. On the other hand, in Greece, farmers struggle to make their voice heard in the absence of professional organizations, the cooperatives are bound to work in the framework of a specific and strict law and the administration was not shown very cooperative with the sector. These two realities are very well illustrated by the author and many lessons are to be learnt through this study. But, above all, the author gives us a fair idea of how complex is the process of Europeanisation in a Europe Union composed of sovereign member-States with different history, culture, social organization and different legal systems. Vaggelis Divaris, Former European Commission principal administrator (DG Agriculture and Rural Development)

This volume approaches the current crisis of solidarity in the European Union from a multidisciplinary perspective. The contributions explore the concept of solidarity, its role in the European integration process, and analyze the risks entailed by a lack of solidarity. Experts from various academic fields, such as political science, law, sociology, and philosophy, shed new light on contemporary challenges such as the migrant and refugee crisis, the Eurozone crisis, nationalist and separatist movements, and Brexit. Finally, they also discuss different solutions for the most pressing problems in EU politics. The book has two main aims: Firstly, to show that solidarity is a key element in solving the EU's contemporary problems; and secondly, to reveal how the crisis of solidarity has become a crucial test for the integration project, as the nature of the crisis goes beyond the well-known shortcomings in the EU's structure and problem-solving capacities.

This book addresses resurgence of the American economy, and the firms, regions, and technologies that are driving this growth. Best argues that America has developed a new model of technology management and regional innovation based on the principle of systems integration. This book, which both builds on Best's earlier work and engages with the ideas of Michael Porter, is a rich and important source of ideas.

In times of dramatic social, economic and political change, governments around the world are questioning their roles and responsibilities in the public sector. The trend is away from a traditional public-sector market model, but there does not yet exist a universally accepted alternative. The essays offer a comparative analysis of public administration in several OECD countries, including the UK, US, Australia, and Scandinavia, and explores possible future directions.

Floro Ernesto Caroleo and Francesco Pastore This book was conceived to collect selected essays presented at the session on "The Labour Market Impact of the European Union Enlargements. A New Regional Geography of Europe?" of the XXII Conference of the Italian Association of Labour Economics (AIEL). The session aimed to stimulate the debate on the continuity/ fracture of regional patterns of development and employment in old and new European Union (EU) regions. In particular, we asked whether, and how different, the causes of emergence and the evolution of regional imbalances in the new EU members of Central and Eastern Europe (CEE) are compared to those in the old EU members. Several contributions in this book suggest that a factor common to all backward regions, often neglected in the literature, is to be found in their higher than average degree of structural change or, more precisely, in the hardship they expe- ence in coping with the process of structural change typical of all advanced economies. In the new EU members of CEE, structural change is still a consequence of the continuing process of transition from central planning to a market economy, but also of what Fabrizio et al. (2009) call the "second transition," namely that related to the run-up to and entry in the EU.