The strategies and practical approaches for socio-economic development are undergoing systemic changes under the influence of new developments in global economic systems and markets. The most significant factors influencing such changes are connected to the start of the Fourth Industrial Revolution (Industry 4.0), which is impacting all economic systems to a greater or lesser extent. The creation of the digital economy and transition to Industry 4.0 particularly increases the significance of hi-tech for socio-economic development. Secondly, there is now a transition underway from a period of unlimited globalization and comprehensive integration to more limited globalization and selective economic integration. The growing importance of regionalization on the global economic system is manifested in the formation and rapid development of new integration unions at the regional or country level (e.g., the EU and the EAEU), and company level (e.g., regional sectoral economic clusters, special economic areas, technological parks, and innovative networks). Thirdly, there's an urgent need for faster innovation, which leads to the formation of more innovative economies. The global financial crisis drew attention to the problems of managing sustainability and achieving balance in socio-economic development. The formation and exponential growth of the information society, based on digital technologies, is now stimulating the growth and significance of corporate social and environmental responsibility as a prerequisite for entrepreneurial success. Thus, the paradigm of socio-economic development is changing from absolute rationality (economic effectiveness) and stability - which has historically been associated with problems of stagnation - to responsibility (limited and socially-oriented rationality) and dynamism (quick innovative development based on leading technologies). This book aims to provide a scientific substantiation for this new paradigm.

Political Vanity aims to illuminate the central debates over the historical, moral, and political legitimacy of market capitalism as though still profoundly theological in character. This theological sensitivity is achieved by keeping conversation with central theorists of the Scottish Enlightenment, in particular the philosopher and sociologist Adam Ferguson. Ferguson was a contemporary of Hume and Smith, and actively questioned many of the pillars of early capitalism on theological grounds.

From two of the nation's leading economic thinkers, a concrete action plan to reignite the power of the U.S. economic system In the wake of the Great Recession and America's listless recovery from it, economists, policymakers, and media pundits have argued at length about what has gone wrong with the American capitalist system. Even so, few constructive remedies have emerged. This welcome book cuts through the chatter and offers a detailed, nonideological, and practical blueprint to restore the vigor of the American economy. Better Capitalism extends and significantly expands on the insights of the authors' widely praised previous book, Good Capitalism, Bad Capitalism, co-written with William Baumol. In Better Capitalism, Robert E. Litan and Carl J. Schramm focus on the huge-but often unrecognized-importance of entrepreneurship to overall economic growth. They explain how changes in seemingly unrelated policy arenas-immigration, education, finance, and federal support of university research-can accelerate America's recovery from recession and spur the nation's rate of growth in output while raising living standards. The authors also outline an innovative energy strategy and discuss the potential benefits of government belt-tightening steps. Sounding an optimistic note when gloomy predictions are the norm, Litan and Schramm show that, with wise and informed policymaking, the American entrepreneurial engine can rally and the true potential of the U.S. economy can be unlocked.

"Makes a reader feel like a time traveler plopped down among men who were by turns vicious and visionary."--"The Christian Science Monitor"""
The modern American economy was the creation of four men: Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan. They were the giants of the Gilded Age, a moment of riotous growth that established America as the richest, most inventive, and most productive country on the planet.
Acclaimed author Charles R. Morris vividly brings the men and their times to life. The ruthlessly competitive Carnegie, the imperial Rockefeller, and the provocateur Gould were obsessed with progress, experiment, and speed. They were balanced by Morgan, the gentleman businessman, who fought, instead, for a global trust in American business. Through their antagonism and their verve, they built an industrial behemoth--and a country of middle-class consumers. "The Tycoons" tells the incredible story of how these four determined men wrenched the economy into the modern age, inventing a nation of full economic participation that could not have been imagined only a few decades earlier.

The emergence of China as a global economic powerhouse, the uncertain path of Russia towards a market economy, and the integration of ten Central and Eastern European countries into the European Union (EU) have occupied the minds and agendas of many policy-makers, business leaders and scholars from around the world at the end of the twentieth and the beginning of the twenty-first century. Twenty years ago these developments were unimaginable. The impact of these changes is so vast that the importance of understanding the forces that unleashed this process, how these changes became possible, and what the lessons are for other developing countries, cannot be overestimated. This book is the first effort to analyze the economics and politics of agricultural reforms by comparing the reform processes, their causes and their effects across this vast region. The authors draw on a vast set of studies and new data, which compare reforms and economic impacts in more than 25 countries, to come up with a series of conclusions and implications on the role of economic reforms in growth, and the importance of initial conditions and political constraints in explaining the choices that were made and their effects. The book analyzes some of the most successful sets of agricultural policies in history that have lifted people out of poverty, raising productivity and incomes by staggering amounts. At the same time the book explains the reasons behind dramatic failures in policy processes and reforms that caused hunger, poverty and which had devastating effects on economic growth and development for millions of other people.

The financial crisis, which originated in developed country financial markets, quickly spread to developing countries. Governments and central banksthough taking many and costly measures were powerless to stop the global economic meltdown, as economies across the globe went into recession. The depth of the financial crisis means that the world economy is in unchartered territory. How do we restore robust growth and prevent another crisis? This book aims to systematically understand current major problems in the financial system, its governance, and in its links to global economic imbalances. It explains how both market actors and regulators behavior, and the prevailing ideology of extreme financial liberalization and deregulation, contributed to the financial crisis. This highly topical book focuses on the transparency and regulatory measures that are necessary to restore confidence in the financial system, to ensure that the financial system performs the roles that it should perform within both developing and developed countries, and to make a recurrence less likely. The book also describes reforms in the global financial architecture that might make the global financial system more stable and more equitable. The book presents sometimes radical, but specific, pragmatic, and politically feasible proposals to try to ensure a more stable, equitable, and growing world economy. Contributions come from both developed and developing countries and are written by leading authorities in their field, including senior nationalas well as internationalpolicy makers, practitioners from the private sector, and leading academics.

Digital transformation concepts have created new business principles such as the on-demand economy and a new sharing economy. While the on-demand economy has primarily grown out of industrialized economies, especially North America, Africa has been known to exhibit communal living characterized by sharing. Literature has shown that the introduction of ICTs to everyday life and business has redefined the concept of sharing and also evolved an entirely new spectrum of sharing - both in the individual and business settings. Alongside this new spectrum is a new disruptive business model known as the platform business model. While the subject continues to attract interest globally and locally, there is a need to deepen the understanding of this subject to validate global perspectives on platforms as economic drivers within the African context. Africa's Platforms and the Evolving Sharing Economy is an essential reference source that explores evidence-based platform dynamics and their impact on Africa as a continent leveraging technology for economic development. The book also delves into current data protection and privacy issues and the policies and regulations that could impact the design, deployment, and use of platforms for businesses. Featuring research on topics such as digital design, e-commerce, and enterprise information systems, this book is ideally designed for government officials, economists, business executives, managers, academicians, students, researchers, and global finance professionals.

How does the politics of working life shape modern organizations? Is our desire for meaningful, secure work increasingly at odds with corporate behaviour in a globalized economy? Does the rise of performance management culture represent an intensification of work, or create opportunities for the freewheeling individual career? This timely and engaging book, by leading authorities in the field, adopts the standpoint of the 'questioning observer'. It is for those who need an informed account of work that is accessible without being superficial. The book is unique in its multi-dimensional approach, weaving together analysis of individual work experience, political processes in organizations, and the wider context of the social structuring of markets. The book identifies central questions about working experience and answers them in a direct and lively manner. It has a strong analytical foundation based on a political economy framework, giving particular weight to the contradictory character of organizations. These contradictions turn on the competing demands placed on organizations and the different political projects of groups within them. This perspective integrates the chapters, and permits numerous scholarly debates to be addressed - including those on identity projects, gender and work, power and participation, escalation in decision-making, and the meaning of corporate social responsibility. This book is suitable for undergraduate and graduate classes in Organizational Behaviour, Business Strategy and the Sociology of Work and Employment. It will also appeal to the general reader interested in grappling with the complexity of the changing environment of work.

Can the ethical mission of health care survive among organizations competing for survival in the marketplace? On this question hinges not only the future of health care in the US, but that of the health care systems of all advanced countries. This book presents both an analytic framework and a menu of pragmatic answers. The team of authors, physician-ethicists from Harvard Medical School and the National Institutes of Health, worked with a consortium of health care organizations to explore some of the most challenging dilemmas in health care today: How can health plans determine medical necessity in a way that ensures quality care, controls costs, and builds trust with patients and physicians? What are the strategies for caring for vulnerable populations that meet their special neds without dramatically increasing costs? To answer these and other similar questions the authors blend ethical analysis with real-world example. The outcome is a rich analysis of the ethical challenges facing health care organizations, combined with tangible examples of exemplary methods to address these challenges. This book will help health care leaders, regulators, and policy makers incorporate exemplary practices, and the underlying themes they embody, into the very heart and soul of health care organizations.

This volume in Advances in Econometrics showcases fresh methodological and empirical research on the econometrics of networks. Comprising both theoretical, empirical and policy papers, the authors bring together a wide range of perspectives to facilitate a dialogue between academics and practitioners for better understanding this groundbreaking field and its role in policy discussions. This edited collection includes thirteen chapters which covers various topics such as identification of network models, network formation, networks and spatial econometrics and applications of financial networks. Readers can also learn about network models with different types of interactions, sample selection in social networks, trade networks, stochastic dynamic programming in space, spatial panels, survival and networks, financial contagion, spillover effects, interconnectedness on consumer credit markets and a financial risk meter. The topics covered in the book, centered on the econometrics of data and models, are a valuable resource for graduate students and researchers in the field. The collection is also useful for industry professionals and data scientists due its focus on theoretical and applied works.

The balance of economic power in Europe is shifting eastwards. Poland, the Czech Republic, Hungary, and Romania have all seen increases in their contributions to international trade and in the rate of GDP growth, whilst other countries have seen declines, and firms in these Central and Eastern European economies are becoming increasingly influential participants in international production systems, centred largely on Germany. This book presents an up-to-date, theoretically informed analysis of how these four countries have developed distinctive business systems since the political revolutions that transformed this region in 1989, combining the structures of liberal market capitalism established in the 1990s with practices established earlier. Influenced by the socialist inheritance of communism and increasingly diverse sources of capital, different forms of capitalism developed, less responsive to shareholder interests, and more responsive to managerial and national strategic interests This book concentrates on changing patterns of ownership and control, means of capital accumulation, the relations among multinationals, regional enterprises, and governments, and the role of the state. Whilst recognizing the role of multinationals in generating export-led growth, the book emphasizes the central role of government at national and international level. The forms of capitalism under construction differ from expectations common in the 1990s, combining elements from both US/UK and continental European models of capitalism.

Why and how has the Business Corporation come to exert such a powerful influence on American Society? The essays here take up this question, offering a fresh perspective on the ways in which the business corporation has assumed as enduring place in the modern capitalist economy, and how it has affected American society, culture and politics over the past two centuries. The authors challenge standard assumptions about the business corporation's emergence and performance in the United States over the past two centuries. Reviewing in depth the different theoretical and historiographical traditions that have treated the corporation, the volume seeks a new departure that can more fully explain this crucial institution of capitalism. Rejecting assertions that the corporation is dead, the essays show that in fact it has survived and even thrived down to the present in part because of the ways in which it has related to its social, political and cultural environment. In doing so, the book breaks with older explanations ground in technology and economics, and treats the corporation for the first time as a fully social institution. Drawing on a variety of social theories and approaches, the essays help to point the way toward future studies of this powerful and enduring institution, offering a new periodization and a new set of questions for scholars to explore. The range of essays engages the legal and political position of the corporation, the ways in which the corporation has been shaped by and shaped American culture, the controversies over corporate regulation and corporate power, and the efforts of minority and disadvantaged groups to gain access to the resources and opportunities that corporations control.

Discussion of trade barriers has come round - inevitably it seems - to national regimes of regulatory protection. Indeed, state regulation has the potential to undermine the very legitimacy of the global trading system. A compelling reconciliation between these two paramount values is essential. This text has a twofold purpose: to consider what has so far been accomplished in this mission in the field of international economic law, and to prescribe some solutions to continuing problems. This latter endeavour amounts to a coherent and integrated plan that will enhance the acceptability of free markets to governments, traders, and other stakeholders alike. The challenges analysed in depth here include: the development in the global trade regime of non-trade policy objectives, which still tend to be treated as mere exceptions to general obligations; the built-in emphasis on products rather than measures; the novel risks associated with the development of modern technology; the case-by-case approach of WTO jurisprudence, which generally fails to investigate whether the substance of any given domestic regulation is necessary to the policy goals of the state in question; and the "technical and economic feasibility" of complying with international trade obligations. The author conducts his analysis in a broad context encompassing the WTO system, the European Union, and the North American Free Trade Agreement. He finds that the clash, despite the particular institutional characteristics of these various organizations, is a major concern of them all. The jus gentium of international trade, he offers, is an imperative combining the good faith principle with the communitarian duty to cooperate. Exactly how to go about ordering this imperative is what this book is about.

The transformation of women's lives over the past century is among the most significant and far-reaching of social and economic phenomena, affecting not only women but also their partners, children, and indeed nearly every person on the planet. In developed and developing countries alike, women are acquiring more education, marrying later, having fewer children, and spending a far greater amount of their adult lives in the labor force. Yet, because women remain the primary caregivers of children, issues such as work-life balance and the glass ceiling have given rise to critical policy discussions in the developed world. In developing countries, many women lack access to reproductive technology and are often relegated to jobs in the informal sector, where pay is variable and job security is weak. Considerable occupational segregation and stubborn gender pay gaps persist around the world. The Oxford Handbook of Women and the Economy is the first comprehensive collection of scholarly essays to address these issues using the powerful framework of economics. Each chapter, written by an acknowledged expert or team of experts, reviews the key trends, surveys the relevant economic theory, and summarizes and critiques the empirical research literature. By providing a clear-eyed view of what we know, what we do not know, and what the critical unanswered questions are, this Handbook provides an invaluable and wide-ranging examination of the many changes that have occurred in women's economic lives.

The late twentieth century has witnessed the establishment of new forms of capitalism in East Asia as well as new market economies in Eastern Europe. Despite the growth of international investment and capital flows, these distinctive business systems remain different from each other and from those already developed in Europe and the Americas. This continued diversity of capitalism results from, and is reproduced by, significant differences in societal institutions and agencies such as the state, capital and labour markets, and dominant beliefs about trust, loyalty, and authority. This book presents the comparative business systems framework for describing and explaining the major differences in economic organization between market economies in the late twentieth century. This framework identifies the critical variations in coordination and control systems across forms of industrial capitalism, and shows how these are connected to major differences in their institutional contexts. Six major types of business system are identified and linked to different institutional arrangements. Significant differences in post-war East Asian business systems and the ways in which these are changing in the 1990s are analysed within this framework, which is also extended to compare the path-dependent nature of the new capitalisms emerging in Eastern Europe.

Although economic theory has increased our understanding of some economic problems, it has rendered others, including the problem of capital accumulation, growth, and development, more difficult to understand. Focusing on capitalist economic systems, this book develops a theoretical approach to the study of aggregate capital dynamics. The theory is developed within the Keynesian framework of aggregate thinking and builds on the work of such Cambridge economists as Robinson, Kaldor, and Pasinetti. The approach helps to resolve some theoretical difficulties within the Keynesian framework for studying aggregate investment behavior. Dompere also provides a criticism of the neoclassical investment theory and the general neoclassical theoretical framework for studying aggregate capital accumulation, investment, and growth. Reexamining some questions on investment that earlier theorists have tried to answer, this study develops some of the basic ideas of Keynes, Robinson, Kaldor, and Pasinetti into a general theoretical system that allows an optimal aggregate capital and investment to be determined for a given information set.

The common wisdom that business contributions to the common good are counterproductive in the new competitive global marketplace does not hold up to empirical research. In fact, doing good is good for business, and a majority of businesses do provide some form of community support, which Besser discovered in her exhaustive survey of the Iowa business community. Business owners and managers often act out of a sense of community spirit and a certain obligation to better the common good. While the increasingly globalized economy has encouraged a number of large corporations to become freewheelers, the vast majority of companies are firmly rooted in place and look at their locales with more than just a utilitarian eye.

Extensive interviews with Iowa business owners, managers, and business and community leaders are combined with findings from prior studies of corporate citizenship, and the evidence clearly indicates that the majority of businesses provide some form of community support. Most owners feel they should do more than just make a profit, so they often seek ways to give back to their communities, a move that is usually nurtured within the business community itself. However, corporate altruism carries risks. Many business owners have unwittingly offended customers and clients by their acts of civic spirit. Besser concludes her book by addressing the potential threats to business social responsibility posed by globalization and recommends steps to enhance socially responsible capitalism. Anybody interested in the complex interaction of businesses and the communities they reside in will enjoy reading this positive revisitation of the mutually supportive relationship between trade and polity.

This book primarily focuses on the domain conditions under which a number of important classes of binary social decision rules give rise to rational social preferences. One implication of the Arrow and Gibbard theorems is that every non-oligarchic social decision rule that satisfies the condition of independence of irrelevant alternatives, a requirement crucial for the unambiguity of social choices, and the weak Pareto criterion fails to generate quasi-transitive social preferences for some configurations of individual preferences. The problem is exemplified by the famous voting paradox associated with the majority rule. Thus, in the context of rules that do not give rise to transitive (quasi-transitive) social preferences for every configuration of individual preferences, an important problem is that of formulating Inada-type necessary and sufficient conditions for transitivity (quasi-transitivity). This book formulates conditions for transitivity and quasi-transitivity for several classes of social decision rules, including majority rules, non-minority rules, Pareto-inclusive non-minority rules, and social decision rules that are simple games. It also analyzes in detail the conditions for transitivity and quasi-transitivity under the method of the majority decision, and derives the maximally sufficient conditions for transitivity under the class of neutral and monotonic binary social decision rules and one of its subclasses. The book also presents characterizations of some of the classes of rules for which domain conditions have been derived. The material covered is relevant to anyone interested in studying the structure of voting rules, particularly those interested in social choice theory. Providing the necessary social choice theoretic concepts, definitions, propositions and theorems, the book is essentially self-contained. The treatment throughout is rigorous, and unlike most of the literature on domain conditions, care is taken regarding the number of individuals in the 'necessity' proofs. As such it is an invaluable resource for students of economics and political science, with takeaways for everyone - from first-year postgraduates to more advanced doctoral students and scholars.

In November 1997 Hungarians voted in favor of membership in NATO, primarily as a step toward membership in the European Union and integration into Western society. Andor examines the changes in Hungarian social, political, and economic life after the collapse of communism in Central Europe. He analyzes the difficulties, both internal and external, to making that transition.

In the early 1990s, public discourse was dominated by the enthusiastic slogans proclaiming Hungary's return to Europe. Things can only get better was the prevailing feeling surrounding the dismantling of the state socialist system and the construction of the new parliamentary democracy. From the very early years of transition, however, Hungarians faced large-scale and unexpected hardships in their changing lives which made them the most disappointed nation in Eastern Europe by 1993. In the second half of the 1990s, the policies of the Socialist-Liberal coalition, and particularly the positive developments in the enlargement process of NATO and the EU, restored the belief in a rapid and successful accession to the major Western economic and security organizations. But, as Andor indicates, the beginnings of negotiations about entry into NATO and EU will be merely the starting point of difficulties arising in both economics and politics. A thoughtful and cautious look at a changing Hungary that will be of interest to scholars, researchers, and policymakers involved with Central Europe and contemporary European politics and economics.

This book discusses various aspects of blockchains in economic systems and investment strategies in crypto markets. It first addresses the topic from a conceptual and theoretical point of view, and then analyzes it from an assessment and investment angle. Further, it examines the opportunities and limitations of the taxation of crypto currency, as well as the political implications, such as regulation of speculation with crypto currencies. The book is intended for academicians and students in the fields of economics and finance.

This book provides an economic analysis of various aspects of 'market quality', a new concept which emerged in the 21st century, using the tools of 'oligopoly theory' and 'auction theory' that evolved over the 19th and 20th centuries. In the economics literature the link between the theories of oligopoly and auctions with market quality remains largely unexplored. This book attempts to forge such a link as it brings together relevant theoretical results in the literature on these topics under a unified framework. While the book is mainly theoretical in nature, it also discusses some specific issues related to the problems of market quality in emerging economies like India. Illustrated by carefully chosen examples, this book is highly recommended to readers who seek an in-depth and up-to-date integrated overview of the new field of market quality economics and are interested in some open research problems in this area. How should auctions and other allocation mechanisms be designed for oligopolistic industries to achieve such goals as efficiency, high-quality output and fast production? Krishnendu Ghosh Dastidar's book offers novel analysis of this question and also some interesting answers. Highly recommended. Eric S. Maskin, Nobel laureate in Economics

Building on his companion volume on closed economic systems, Dompere develops a theory of aggregate investment, optimal capital, and output dynamics for open economic systems under neo-Keynesian conditions with special reference to growth policy. By constructing and tracing the path of equilibrium aggregate investment, the study isolates and analyzes the internal and external factors that influence the adjusting of investment to aggregate finance and profit. It examines the role international trade and finance play in alleviating domestic technological and savings constraints on capital creation and growth. The theory's conclusions are used to analyze the rate of accumulation and finance needed to support a rate of output growth selected as part of an internal aggregate decision process. The analysis is extended to aggregrate development capital-output planning. The study goes on to discuss conceptual and aggregational problems of measures of economic openness implied in the data requirements across national economies. Here a unique set of theoretical measures of economic openness, different from the traditional, is developed. The book, further, presents a critique and appraisal of the essential capital elements implied by endogenous growth theory.

For Marxists, imperialism is the highest stage of capitalism. Critical analysis of imperialism has been a feature of Marxist throughout the twentieth century. The conceptualising and theorising of imperialism by Marxists has evolved over time in response to developments in the global capitalist economy and in international politics. Murray Noonan here provides the first complete analysis of Marxist theories of imperialism in over two decades. Presenting three phases of imperialist theories, he analyses and compares 'Classical', 'Neo' and 'Globalisation-era' Marxist theories of imperialism. The book moves chronologically, tracking the origins of imperialism theorised by J.A. Hobson at the beginning of the twentieth century up to the present day. He critically identifies and engages with a new 'Globalisation-era' phase of Marxist imperialism theory. Through a detailed scholarly analysis of the history and evolution of these theories, Noonan offers vital new perspectives on imperialist theory and its relevance and application in the twenty-first century.