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.

Agricultural politics and policy retains a central place in the politics of advanced industrial societies. Governments in most countries continue to subsidize agricultural production and regulate markets for farm commodities. The growth of concern about the environmental impact of agriculture has added a new dimension to the sector's politics. Tensions between the US and the EU over the protection of agriculture remain a major feature. New Zealand offers an interesting example of an experiment with deregulated and liberalized agriculture, while Japanese agriculture continues to be highly protected. All these topics are covered in this two volume set, which brings together the best writing on the subject from leading agricultural economists, political scientists and rural sociologists from across the world.

The Political Economy of Independent Ukraine analyses the reasons for the abysmal economic performance of Ukraine during the 1990s. The main thesis is that economic development was blocked by a set of parasitic mechanisms at all levels of the economy that prevented the development of value-added economic activities. These parasitic mechanisms already developed under Soviet rule ('beating the system' by redistributing goods and services while disregarding formal rules) became a widespread practice.

Self-sufficiency of the house is practiced in many parts of the world but ignored in economic theory, just as socialist collectivization is assumed to have brought household self-sufficiency to an end. The ideals of self-sufficiency, however, continue to shape economic activity in a wide range of postsocialist settings. This volume's six comparative studies of postsocialist villages in Eastern Europe and Asia illuminate the enduring importance of the house economy, which is based not on the market but on the order of the house. These formations show that economies depend not only on the macro institutions of markets and states but also on the micro institutions of families, communities, and house economies, often in an uneasy relationship.

The key figure of the capitalist utopia is the individual who is ultimately free. The capitalist's ideal society is designed to protect this freedom. However, within Planet Utopia: Utopia, Dystopia, Globalisation, Featherstone argues that capitalist utopian vision, which is most clearly expressed in theories of global finance, is no longer sustainable today. This book concerns the status of utopian thinking in contemporary global society and the possibility of imagining alternative ways of living outside of capitalism. Using a range of sociological and philosophical theories to write the first intellectual history of the capitalist utopia in English, Featherstone provokes the reader into thinking about ways of moving beyond this model of organising social life through sociological modes of thought. Indeed, this enlightening volume seeks to show how utopian thinking about the way people should live has been progressively captured by capitalism with the result that it is difficult to imagine alternatives to capitalist society today. Presenting sociology and sociological thinking as a utopian alternative to the capitalist utopia, Planet Utopia will appeal to postgraduate and postdoctoral students interested in subjects including Sociology, Social Theory, Cultural Studies, Cultural Theory and Continental Philosophy.

This book provides an assessment of the role of the International Monetary Fund in poor countries. In recent years, a large portion of the work of the IMF has focused on the economies of low-income countries by aiming to create conditions conducive to poverty reduction and stable economic growth. More than two fifths of the IMF's 185 members are low-income countries and many others have substantial pockets of poverty in their populations. Since economic development and the reduction of poverty are the most important economic challenges that these countries face, how can the IMF best help them? How can the imperative of macroeconomic and financial stability be reconciled with the requirements for sustained economic growth? This volume brings together the research of leading economists, political scientists, and historians to suggest ways for the IMF to address these issues effectively

This book unites diverse heterodox traditions in the study of endogenous money - which until now have been confined to their own academic quarters - and explores their similarities and differences from both sides of the Atlantic. Bringing together perspectives from post-Keynesians, Circuitists and the Dijon School, the book continues the tradition of Keynes's and Kalecki's analysis of a monetary production economy, emphasising the similarities between the various approaches, and expanding the analytical breadth of the theory of endogenous money. The authors open new avenues for monetary research in order to fuel a renewed interest in the nature and role of money in capitalist economies, which is, the authors argue, one of the most controversial, and therefore fascinating, areas of economics. Providing new theoretical and empirical grounds for the construction of a general, policy oriented theory of money, this thought-provoking collection will appeal to academics, researchers and students interested in monetary economics. It will also be welcomed by monetary policymakers and central bank officials.

This book provides a very broad and representative selection of the scholarly literature found in learned journals on the subject of government-business relations in the age of industry, the period since 1870. It covers all the arenas of business-government interaction.

This book uses the Eurovision Song Contest (ESC), as an analytical entry point to understand and illuminate post-War Europe and the drive to create an identity that can legitimise the European project in its broadest sense. The ESC presents an idealised vision of Europe, and this has long existed in a strained relationship with reality. While the trajectory of post-war European integration is a high-profile topic, we believe that the ESC offers a unique and innovative way to think about the role of culture in the history of post-War European integration and tensions between the ideal and reality of European unity. Through the series of case studies that make up the chapters in this book, analysis brings these interlinked tensions to light, exploring the roles of culture and identity, alongside and a productive conversation with the political and economic projects of post-war European integration.

The transformation which is unfolding in emerging European countries is a unique historic event. In several countries, the transition has been quite positive; most analysts anticipate continued real growth in the coming years. Doing Business in Emerging Europe is a user-friendly guide to doing business in Belarus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovak Republic, Slovenia, and Ukraine. Brief overviews of Bosnia-Herzegovina, Croatia, Cyprus, Macedonia, and Serbia/Yugoslavia are also included.

This book offers a genealogical account of the rise of consumer capitalism, tracing its origins in America between 1880 and 1930 and explaining how it emerged to become the dominant form of social organization of our time. Asking how it was that we came to be consumers who live in societies that revolve around an ever-spinning circle of production and consumption, not only of goods, but also of events, experiences, emotions and relations, The Rise of Consumer Capitalism in America presents an extensive analysis of primary sources to demonstrate the conditions and forces from which consumer capitalism emerged and became victorious. Employing a Weberian approach that brings liminality to the fore as a master concept to make sense of historical change, the author links an in-depth empirical investigation to supple sociological theorizing to show how the encirclement of all aspects of life by the logic of consumer capitalism was a time-bound historical creation rather than a necessary one. A fascinating study of the appearance and triumph of the "ideology" of our age, this book will appeal to scholars of social and anthropological theory, historical sociology, cultural history and American studies.

Holy Scripture and economists have distinct ways of exploring market networks. The Body of Christ in a Market Economy explains how desire connects scripture, economics, theological anthropology, and soteriology. By explaining the mechanics of desire and Jesus' saving grace, it becomes possible for churches and congregations to better align their networks for the common good within market economies. Rivalry is an expense. Follow Jesus or prepare to spend.

How we pay is so fundamental that it underpins everything – from trade to taxation, stocks and savings to salaries, pensions and pocket money. Rich or poor, criminal, communist or capitalist, we all rely on the same payments system, day in, day out. It sits between us and not just economic meltdown, but a total breakdown in law and order. Why then do we know so little about how that system really works?

Leibbrandt and de Terán shine a light on the hidden workings of the humble payment – and reveal both how our payment habits are determined by history as well as where we might go next. From national customs to warring nation states, geopolitics will shape the future of payments every bit as much as technology.

Challenging our understanding about where financial power really lies, The Pay Off shows us that the most important thing about money is the way we move it.

This book is a collection of original essays grouped into four parts under the headings "Greece and European integration," "Issues in the Methodology of Economics," "Institutions and the Free Market Economy," and "Insights for Today from Ancient Greece." The essays appeal to both researchers in the corresponding fields of knowledge and also to policy makers who are looking for ideas and approaches to confront present day challenges. In particular, given the present state of turmoil in the European Union, the international economy, and democracies in general, most of the essays offer new insights for economic and social policies.

The land, labor, credit, and trading institutions of Marmara village, in Hausaland, northern Nigeria, are detailed in this study through fieldwork conducted in two national economic cycles - the petroleum-boom prosperity (in 1977-1979), and the macro-economic decline (in 1985, 1996 and 1998). The book unveils a new paradigm of economic change in the West African savannah, demonstrating how rural accumulation in a polygynous society actually limits the extent of inequality while at the same time promoting technical change. A uniquely African non-capitalist trajectory of accumulation subordinates the acquisition of capital to the expansion of polygynous families, clientage networks, and circles of trading friends. The whole trajectory is driven by an indigenous ethics of personal responsibility. This model disputes the validity of both Marxian theories of capitalist transformation in Africa and the New Institutional Economics.

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)

After being proclaimed dead, there is now a major revival of socialist ideology in the West. But what does socialism mean? This book shows that it is irretrievably associated with common ownership. The twentieth-century experience of comprehensive national planning with state ownership has been disastrous, and in no case has democracy endured within large-scale socialism. This volume explains why. The alternative socialist option of worker-owned cooperatives must accept a major role for markets that many socialists reject. Featuring theoretical arguments and practical investigations, Geoffrey M. Hodgson interrogates the failures of socialist states, scrutinizing the impact and outcomes of a centralized politico-economic system. This timely and convincing book offers insight into the twentieth-century experience of comprehensive national planning, deploying less-well-known criticisms from Albert Schaffle and Michael Polanyi. Hodgson's nuanced approach brings together small-scale socialist praxis and principles of liberal solidarity, exploring an experimental approach to political and economic reform. Provocative, insightful and accessible, this book is of considerable interest to any reader with an appetite for the history of socialist theory, as well as those keen to explore new insights to heterodox economics. Students and academics of the social sciences and humanities will benefit from this book's rigorous empirical approach to historic and contemporary socialist states and its in-depth discussion of Austrian school theory.

The Freedom of Peaceful Action is the first installment of the trilogy The Nature of Liberty, which makes an ethical philosophic case for individual liberty and the free market against calls for greater government regulation and control. The trilogy makes a purely secular and nonreligious ethical case for the individual's rights to life, liberty, private property, and the pursuit of happiness as championed by the U.S. Founding Fathers. Inspired by such philosophic defenders of free enterprise as John Locke, Herbert Spencer, and Ayn Rand, The Nature of Liberty shows that such individual rights are not imaginary or simply assertions, but are institutions of great practical value, making prosperity and happiness possible to the degree that society recognizes them. The trilogy demonstrates the beneficence of the individual-rights approach by citing important findings in the emerging science of evolutionary psychology. Although the conclusions of evolutionary psychology have been long considered to be at odds with the philosophies of individual liberty and free markets, The Nature of Liberty presents a reconciliation that reveals their ultimate compatibility, as various important findings of evolutionary psychology, being logically applied, confirm much of what philosophic defenders of liberty have been saying for centuries. Moreover, proceeding from the viewpoint of Rand, this work argues that the structure of society most conducive to practical human well-being is commensurately the most moral and humane approach as well. The trilogy's first installment, The Freedom of Peaceful Action, focuses on the secular, philosophic foundation for a society based on individual rights. Starting from a defense of the efficacy of observational reason against criticisms from Immanuel Kant and Karl Popper, it demonstrates how a philosophic position of individual liberty and free markets is the logical result of the consistent application of human reason to observing human nature. This installment demonstrates that any political system that wishes for its citizens to thrive must take human nature into account, and that an accounting of human nature reveals that a system of maximum liberty and property protection is the one must conducive to peace and human well-being.

What is the nature and role of competition in markets and politics? This book examines the institutional dimension of markets and the rules and institutions that condition the operation of market economies. Particular attention is paid to the the role of the state, specifically the role of governments in shaping and maintaining the economic constitution of their societies.

The aim of this book, first published in 1939, is to provide a comprehensive description of the protectionist system that had been in force in Britain since 1931. It explains the principles and difficulties involved in framing and administering a customs and excise tariff, which has both revenue and political purposes. The problems of tariff negotiating are discussed, and trade agreements made are summarized.

Developmental Macroeconomics: Access to Demand, the Exchange Rate and Growth offers a new approach to development economics and macroeconomics. It is a Keynesian-structuralist approach to economics applied to middle income countries that emphasizes the strategic role of demand in creating investment opportunities that are essential to economic development. It also explores crucial links between short-term full employment and financial stability with medium term growth. While this book emphasizes the central role played by the exchange rate it does not ignore other macroeconomic prices (the interest rate, the inflation rate and the profit rate). It develops a group of concepts and models and blends them together in the model of the tendency to the cyclical overvaluation of the exchange rate in developing countries. According to this model, the exchange rate tends to be chronically overvalued. In so far that this is true the exchange rate ceases to be just a short-term problem to be treated by macroeconomics and becomes central to development economics and should be crucially oriented to manage the exchange rate and keep it competitive at the industrial equilibrium level. The book closes with the presentation of new developmentalism - a national development strategy based on the system of models previously discussed that is both an alternative to old national-developmentalism and to liberal orthodoxy or the Washington consensus.

This book explores the social consequences of digitization. The authors determine the problems, substantiate the perspectives, and offer recommendations for determining the role of human in modern digital society. The scientific concept "homo digital" is developed, and the essence of its formation in the process of evolution of "homo economicus" is studied. The transition from the post-industrial to the information society is also considered. The authors show that in the context of the digital economy the problem of economization (commercialization) of non-economic (non-profit) spheres and types of economic activity become more urgent; they are analyzed through the prism of the theory of time in economics. Based on this, the increase of the influence of the consumer society on the modern social environment is shown. The key role of human capital in formation of a new quality of economic growth in the digital economic environment is substantiated, and transformation processes in the structure and practice of application of human capital are analyzed. The idea of social justice is reconsidered through the prism of digital society as a social environment with equal opportunities but different competences and motives. Attention is paid to the modern Russian practice of influence of the digital economy on society on the whole and each human. Scientific and methodological recommendations for indicative evaluation of quality of economic growth in the conditions of digitization of Russia's economic system are offered, and the specifics of the problem of socio-economic differentiation of the Russian population in the conditions of technological progress are shown. Based on this, it is proved that the digital economy has a contradictory influence on society, increasing the accessibility of goods and services, in particular hi-tech ones, but also causing an urgent need for adapting to the new economic conditions. This adaptation is largely determined by capabilities of people, flexibility of their thinking, and ability for learning and development. Thus, instead of the expected provision of balance of society, its disproportions could grow in practice. Also, specific features of regional migration in modern Russia in the context of digitization are determined. The role of emotional intellect in formation of the critical thinking of a company's employees is outlined. Due to this, it is shown that so called "human factor", which is traditionally treated as a source of economic risks and costs, acquires a new role in the conditions of the digital economy - a source of value creation and reduction of risks of technological progress, due to justified opposition to unfavorable changes. Informal labor relations based on digital communications, as the highest form of evolution of these relations that is achieved in the conditions of Industry 4.0, is considered. The central role of higher education in the process of social adaptation to the conditions of Industry 4.0 is outlined. The economic and legal issues of the digital economy are considered - in particular, the issue of democracy in the digital society in the conditions of e-government.

With a large and growing economy and a leadership dedicated both to domestic reform and the further integration into international society and the world economy, China is facing and posing important challenges at the local, national, regional and wider international level. This book analyses the developmental trajectories of China up to and into the new millennium. Focusing on the substance and underlying forces of change, it considers issues and developments in monetary policy, foreign exchange policy, the trade regime, state-owned enterprise reform, regional economic development as well as social changes, particularly those related to social welfare reform and the Internet. The book also covers economic and political developments in 'Greater China', particularly the prospects of reunification after Taiwan's presidential elections, and analyses the core issues and challenges in China's contemporary relations with the USA, Japan, South-East Asia and Europe.

Neoliberals hate the state. Or do they?

In the first intellectual history of neoliberal globalism, Quinn Slobodian follows a group of thinkers from the ashes of the Habsburg Empire to the creation of the World Trade Organization to show that neoliberalism emerged less to shrink government and abolish regulations than to redeploy them at a global level.

It was a project that changed the world, but was also undermined time and again by the relentless change and social injustice that accompanied it.

With regions and nations having formally fulfilled the ex ante conditionality, this book provides a first overall review of RIS3 policy processes, aiming to assess the consistency of the concept of smart specialization from an applied, policy-oriented perspective. Moving from the theory of design to the practice of implementation, the reflections and case studies in this volume reveal strengths and weaknesses in the way concrete strategies have been conceived and implemented, enabling reflections on the future of the concept in a more general sense. In many cases, smart specialization strategies turn out to be new variants of regional development policies, embracing the importance of a place-based approach. However, the approach's potential to add distinctive value will stem from its capacity to turn innovation and knowledge into tools for local development by harnessing them for wider territorial development goals. By helping regions to identify and leverage untapped resources through new processes, smart specialization-based policies may help to reconcile cohesion and competitiveness objective. Consequently, new approaches appear most promising where institutional, administrative and political conditions allow the setup of genuinely new processes and where their focus is on territorial assets in a comprehensive manner rather than mere industrial renewal. This book was originally published as a special issue of European Planning Studies.