From the mid-1980s, investors in the US increasingly directed capital towards the financial sector at the expense of non-financial sectors, lured by the perception of higher profits. This flow of capital inflated asset prices, creating the stock market and housing bubbles which burst when the imbalance between stagnant incomes and rising debts triggered the banking meltdown. Profitability and the Great Recession analyses these trends in profitability and capital accumulation, which the authors identify as the root cause of the financial crisis, in the context of the US and other major OECD countries. Drawing on insights from Adam Smith, David Ricardo, John Stuart Mill and Karl Marx, the authors interpret the relationship between capital accumulation and profitability trends through the conceptual lens of classical political economy. The book provides extensive empirical evidence of declining rates of US non-financial corporate accumulations from the mid-1960s and profitability trends in that sector falling from post-war highs. In contrast to this, it is shown that there was a vigorous rise of profitability in the financial sector from a 1982 trough to the early part of the twenty-first century, which led to the bloating of that sector. The authors conclude that the long-term falling accumulation trend in the non-financial corporate sector, highlighted by the bankruptcy of major automobile corporations, stands out as the underlying force that transformed the financial crisis into a fully-fledged Great Recession. This book will be of interest to students and researchers in the areas of economics, political economy, business and finance.

When this book was first published in 1990, there were massive economic changes in the East and significant economic challenges to the West. This critical analysis of democratic theory discusses the principles and forces that push both socialist and capitalist economies toward a common ground of workplace democratization. This book is a comprehensive approach to the theory and practice of the "Democratic firm" - from philosophical first principles to legal theory and finally to some of the details of financial structure. The argument for economic democracy supports private property, free markets and entrepreneurship for instance, but fundamentally it replaces the employer/employee relationship with democratic membership in the firm. For students, teachers, policy makers and others interested in the application of democracy to the workplace, this book will serve as a manifesto and a standard reference on the topic.

This book provides the reader with a comprehensive analysis of US Federal Antitrust and EC Competition Law. It is encyclopaedic in coverage: examining every constituent element of the law and landmark decisions from the perspectives of economics and policy goals, explaining their implications for commercial operations and advocating policy reforms where necessary.

The debate on the free movement of labour within the EU has gained new momentum in the wake of the economic crisis. Building on the earlier Ashgate publication EU Labour Migration Since Enlargement, the editors have assembled a team of experts from across Europe to shed light on the critical issues raised by internal labour mobility within the EU in the context of economic crisis and labour market pressures. The book's chapters tease out the links between economic developments, regulatory frameworks and migration patterns in different European countries. A central focus is on issues of skills and skills mismatch and how they relate to migration forms, duration and individual decisions to stay or return. Based on detailed analysis of European and national-level sources, the results presented clearly contradict assumptions about a "knowledge driven migration". Rather, over-qualification and the corresponding underutilisation of migrant workers' skills emerge as a pervasive phenomenon. At the same time the characteristics of migrants - not just skills, but socio-demographic characteristics and attitudes - and also their labour market integration are shown to be very diverse and to vary substantially between different sending and receiving countries. This calls for a differentiated analysis and raises complex issues for policymakers. Examples where policy has contributed to positive outcomes for both migrants and domestic workforces are identified. Unique in analysing labour migration flows within the European Union in a comparative manner putting skills into the centre and taking account of the effects of the economic crisis, while addressing policy concerns this is a valuable resource for academics, policymakers and practitioners alike.

Bringing together theoretical, empirical and comparative perspectives on the European Social Model (ESM) and transitional labour market policy, this volume contains theoretical accounts of the ESM and a discussion of policy implications for European social and employment policies that derive from research on transitional labour markets. It provides an economic as well as legal assessment of the European Employment Strategy and contains evaluations of new forms of governance both in European and member state policies, including discussions of the potential and limits of soft law instruments. Country studies of labour market reforms in Denmark, the Netherlands, Belgium and France assess their contribution to an emerging ESM, while comparative accounts of the ESM examine mobility and security patterns in Europe and beyond and evaluate recent 'flexicurity' policies from a global perspective.

Over the last decade, there has been an increasing amount of research on knowledge-intensive business services (KIBS) and innovation. This book brings together current thinking on this subject from geographic and territorial perspectives. Researchers from across Europe and North America present contributions from a wide range of disciplinary approaches including management studies, innovation studies and geography. They explore areas such as innovation related cooperation between KIBS firms and their industrial partners, how KIBS firms mediate business knowledge and the impact that KIBS make in local, regional and international contexts. The book offers a timely exploration of the role played by the geographic and institutional environment in the processes that link KIBS, innovation and territory across different contexts.

This insightful book analyzes the development of cross-border and cross-sector partnerships in a number of European cities and regions. Including, amongst others, Copenhagen, Budapest, Helsinki, Munich and Catalonia, these case studies shed light on the factors determining the success or failure of the coalition-forming process. Over the course of the nine case studies, the following questions are addressed: - What forms of metropolitan and/or regional partnerships can be found? -

From its formation in 1944, the National Union of Mineworkers (NUM) was one of the most powerful and important players on the British political and industrial stage. Whilst the nation relied upon coal for its electricity production, domestic heating and railway transportation, the miners and their unions would always play a central role in national politics with the ability to cause massive disruption to the nation, should they decide to strike, as they did in 1972 and 1974. However, as the country began to move towards other forms of energy, such as oil and gas, the power of the mineworkers correspondingly decreased, leaving the once mighty union to come to terms with a very different world by the early eighties. The NUM and British Politics makes use of union material and party and government archives as well as oral testimony, much of it highly confidential, to present the first overall account of the evolving nature of the tripartite relationship between the miners, the NUM and the state.

In today's global knowledge economy, competition for the best and brightest workers has intensified. Highly skilled workers are an asset to companies, knowledge institutions, cities, and regions as they contribute to knowledge creation, innovation, and economic growth and development. Skilled migrants cross, and many times straddle, international borders to pursue professional opportunities. These spatial relocations provide opportunities and challenges for migrants and the cities and regions they inhabit. How have international skilled migratory flows been formed, sustained, and transformed over multiple spaces and scales? How have these processes affected cities and regions? And how have multiple stakeholders responded to these processes? The contributors to this book bring together perspectives from economic, social, urban, and population geography in order to address these questions from a myriad of angles. Empirical case studies from different regions illuminate the multiscaled processes of international skilled migration. In particular, the contributions rethink skilled migration theories and provide insights into: the experiences of highly skilled labor migrants and international students; issues related to transnational activities and return migration; and policy implications for both immigrant source and destination countries. It also charts a future research agenda for international skilled migration research. Rethinking International Skilled Migration provides a comparative perspective on the experiences of skilled migrants across the local, regional, national, and/or global scale, paying particular attention to spatial and place-based dimensions of international skilled migration. It will be of interest to scholars and professionals in international migration, regional and national development policymakers, international businesses, and NGOs.

What are the challenges and action points for agricultural sustainability in Sub-Saharan Africa? This open access collection of papers offers technical analyses, policy recommendations and an overview of success stories to date. Each carefully selected paper provides valuable insights for improved policy making and defines relevant strategic priorities on Africa's sustainable transformation process, which is in line with the international development agenda. Although agriculture remains the main source of income for Africa's population, the sector is rain-fed subjecting it to the vagaries of weather and climate change. This volume demonstrates the rationale of developing a competitive, inclusive and sustainable agribusiness sector for Africa's food security and structural transformation. From the impact of Bioenergy crop adoption and Drought Index Insurance to Agro-Industrialization, this volume is important reading for individual researchers, academic associations and professional bodies interested in African agricultural development.

The concept of smart cities has become one of the most significant new lines of thinking to emerge in the social sciences in recent years, both from the research and policy angles. To date, the focus in smart specialization has been on what regions as a whole can do to bring about innovation, but it hasn't necessarily addressed the role cities play within the field. This book aims to address that gap, drawing together a team of leading contributors, to illustrate this process with particular focus on cities. Smart Development in Smart Communities discusses the cross-fertilization between smart specialization and cities in fostering smart development and its interactions with the macro-, micro- and meso-economic framework, from both a theoretical and applied perspective. Specific topics covered by the book include: human capital formation and utilization; centralized/decentralized industrial policies; innovation policies; collective learning; and the role of public utilities in sustaining smart development processes. This book tackles some of the most important questions that must be faced when investigating how structural change and innovation processes are shaping local and global economic development. It will be of interest to academics and researchers in the area of Development Economics, Urban Studies and Public Management.

This book introduces special programs designed to enhance thinking and problem solving at the preschool, elementary, secondary, college, and graduate levels, as well as proven instructional methods to aid the elderly in retaining or regaining essential mental skills. The volume also considers difficult problems confronting psychology, including such disparate issues as the appropriate content of courses to develop thinking, resistance to the introduction of programs in schools and universities, and psychology's limitations on progress in these areas.

Regulation of the Power Sector is a unified, consistent and comprehensive treatment of the theories and practicalities of regulation in modern power-supply systems. The need for generation to occur at the time of use occasioned by the impracticality of large-scale electricity storage coupled with constant and often unpredictable changes in demand make electricity-supply systems large, dynamic and complex and their regulation a daunting task. Arranged in four parts, this book addresses both traditional regulatory frameworks and also liberalized and re-regulated environments. First, an introduction gives a full characterization of power supply including engineering, economic and regulatory viewpoints. The second part presents the fundamentals of regulation and the third looks at the regulation of particular components of the power sector in detail. Advanced topics and subjects still open or subject to dispute form the content of Part IV. In a sector where regulatory design is the key driver of both the industry efficiency and the returns on investment, Regulation of the Power Sector is directed at regulators, policy decision makers, business managers and researchers. It is a pragmatic text, well-tested by the authors' quarter-century of experience of power systems from around the world. Power system professionals and students at all levels will derive much benefit from the authors' wealth of blended theory and real-world-derived know-how.

High-speed Rail (HSR) is a technological transportation advance that has raised the interest of policy makers and researchers worldwide. The study of High-speed Rail is a recent phenomenon but has received increasing attention due to the extension of this mode of transportation around the globe. Evaluating High-Speed Rail contains some of the most recent and cutting edge studies on HSR from different disciplines. The book is organized around a variety of key topics related to the evaluation of High Speed Rail projects and experiences. These topics include: the economic appraisal and evaluation of High-Speed Rail projects; the evaluation of indirect and direct effects of High-Speed Rail; its territorial, redistributive and environmental impacts; its contribution or limitation to urban growth; and the management of challenges created by the arrival of High-Speed Rail lines to core cities. It also covers the contribution of High-Speed Rail to tourism and its impact on intermodal competition, with especial consideration to air transportation. Chapters analyse the expected effects of introducing on-track competition and designing public-private contracts to develop new lines. This cutting-edge volume offers rigorous analysis from top researchers in the field with a clear intention to deliver policy implications and provide the latest analysis on the impact of High Speed Rail. This book is suitable for students and academics interested in transportation infrastructure, economic impacts of public investments, mobility, planning and urban affairs, as well as researchers and policy makers in the transportation and infrastructure sector.

This up-to-date, research-oriented textbook focuses on the relationship between compensation systems and firm overall performance. In contrast to more traditional compensation texts, it provides a strategic perspective to compensation administration rather than a functional viewpoint. The text emphasizes the role of managerial pay, its importance, determinants, and impact on organizations. It analyzes recent topics in executive compensation, such as pay in high technology firms, managerial risk taking, rewards in family companies, and the link between compensation and social responsibility and ethical issues, among others. The authors provide a thorough and comprehensive review of the vast literatures relevant to compensation and revisit debates grounded in different theoretical perspectives. They provide insights from disciplines as diverse as management, economics, sociology, and psychology, and amplify previous discussions with the latest empirical findings on compensation, its dynamics, and its contribution to firm overall performance.

From uncovering major retailers' links to sweatshop abuses and revealing the deception of American tobacco companies, to questioning corporations' ties to repressive dictators, shaming food processors into selling dolphin-safe tuna and demanding that businesses stop destroying old growth forests, citizens have become far more aggressive in directly challenging corporate behavior. Written by two activists who are constantly in the eye of this storm, Insurrection charts the growth of this dissatisfaction and gives us a glimpse of where this movement might be heading.

The concepts of practice and institution are of longstanding importance across the social sciences. This double-volume builds directly on the scholarship of Theodore Schatzki and Roger Friedland, to map out new theoretical and empirical directions at the interface between the practice and institutional "logics" literatures in organizational sociology, bridging the two perspectives. Volume 70 of Research in the Sociology of Organizations focuses on theoretical development including two major, and complementary, theoretical statements by Schatzki and Friedland that engage key ontological issues which lay the groundwork for how their approaches to practice and institutions can be generatively connected.

'This book is different from most other attempts to understand the politics of Indian economic development. Breaking down the last 65+ years of Indian development into several episodes of growth, it provides a rich set of insights into the political economy of the Indian development process and is a valuable addition to the literature.' -Pranab Bardham, University of California, Berkeley, USA 'Sustained economic growth in the world's largest democracy is critically important to human well-being, but the ups and downs of growth in India are not well-understood. This book provides a fresh and insightful approach to understanding what drives the starts of booms and the onset of slowdowns.' -Lant Pritchett, Harvard University, USA 'This is a little book with big arguments. The authors' explanation of the changing character of the deals done between political and business elites makes for the most original contribution to studies of the political economy of Indian development since Pranab Bardhan's seminal work of the early 1980s' -John Harriss, Simon Fraser University, Vancouver, Canada This book moves beyond the usual economic analysis of the Indian growth story and provides a fresh perspective on the determinants of growth episodes in post-independence India, based on its political economy. Using a robust and novel technique, the authors identify four such episodes during this period. The first, running from the 1950s to 1992, was mostly characterized by economic stagnation, with a nascent recovery in the eighties. The second, covering the period 1993 to 2001, witnessed the first growth acceleration in the economy. A second acceleration ran from 2002 to 2010. The fourth and final episode started with the slowdown in 2010 and continues to this day. The book provides a theoretical framework that focuses on rent-structures, institutions and the polity, and demonstrates how changes in these can explain the four growth episodes. Kar and Sen argue that the transitions from one growth episode to another can be explained by the bi-directional relationship between growth outcomes and institutional arrangements, and by the manner in which institutional arrangements and their transitions are determined by the political bargains struck between the elite groups in Indian society.

The last four decades have seen major changes in the global economy, with the collapse of communism and the spread of capitalism into parts of the world from which it had previously been excluded. Beginning with a grounding in Marxian political economy, this book explores a range of new ideas as to what economic geography can offer as it intersects with public policy and planning in the new globalised economy. Approaches to Economic Geography draws together the formidable work of Ray Hudson into an authoritative collection, offering a unique approach to the understanding of the changing geographies of the global economy. With chapters covering subjects ranging from uneven development to social economy, this volume explores how a range of perspectives, including evolutionary and institutional approaches, can further elucidate how such economies and their geographies are reproduced. Subsequent chapters argue that greater attention must be given to the relationships between the economy and nature, and that more consideration needs to be given to the growing significance of illegal activities in the economy. The book will be of interest to students studying economic geography as well as researchers and policy makers that recognise the importance of the relationships between economy and geography as we move towards a sustainable future economy and society.

The Conservatives and Industrial Efficiency, 1951-1964 responds to the need for a full assessment of the Conservatives performance in this crucial period. Drawing upon a wide range of archival sources, Nick Tiratsoo and Jim Tomlinson explore the different aspects of the efficiency question. Beginning with the major issue of attempts in the 1950s to americanize British industry, the authors also discuss the Conservatives policy on ompetition, education and training, investment and research and development. This new survey reveals that the Conservatives were informed about each of these issues, yet shrank from effective reform. They were, rather, reduced to inertia by ideological dilemmas, internal party antagonisms and conflicting strategic objectives. Tiratsoo and Tomlinson conclude that 1951 - 1964 were indeed 'thirteen wasted years'. This book will be of interest to all those concerned with the post-1945 economic and political history of Britain.

Much recent research in Urban Studies has concentrated on the notion of the 'global city' but discussion has also covered a larger set of mega cities, with populations in excess of 10 million. This analysis has begged the question of the optimal size for a city - is larger always better? Smaller Cities explores the advantages and disadvantages of different sized cities, trying to determine their place in the global economy and hierarchy. How can smaller cities gain or retain their competitiveness in a world of large cities? In a globalized world, the nation has perhaps been diminished as an economic actor, with fiscal shortcomings and political gridlock leaving cities more or less on their own in the task of enhancing their competitiveness and improving the economic lives of their residents. This book argues that smaller cities of varying population can be important actors in competitiveness and aims to bring attention to an area often overlooked by researchers. In short, are Pittsburgh, San Diego and Austin less competitive than London and Mumbai? This volume will be of interest to students, researchers, and city professionals who work in urban economy and urban geography.

The History of Mitsubishi Corporation in London examines the culture clashes, the friendships and the changing businesses that Mitsubishi Corporation's London branch oversaw in the eighty-five years following its foundation. It examines the paradox of how Mitsubishi Corporation could operate internationally for nearly a century, and still remain resolutely Japanese. With the slowdown in Japanese economic growth however, this book asks whether the corporation needs to change its mission, as well as controversially questioning whether information technology is in fact a barrier to, rather than a driving force for, successful globalization. As a long-term employee of Mitsubishi both in Tokyo and London, Pernille Rudlin has a unique perspective on the world of Japanese corporate culture in Britain. No other corporate history has examined a Japanese subsidiary in such detail, including interviews with more than thirty employees past and present.

Winner of the 2009 Regional Studies Association Best Book Award! Since the early 1980s, the region has been central to thinking about the emerging character of the global economy. In fields as diverse as business management, industrial relations, economic geography, sociology, and planning, the regional scale has emerged as an organizing concept for interpretations of economic change. This book is both a critique of the "new regionalism" and a return to the "regional question," including all of its concerns with equity and uneven development. It will challenge researchers and students to consider the region as a central scale of action in the global economy, and at the core of the book are case studies of two industries that rely on skilled, innovative, and flexible workers - the optics and imaging industry and the film and television industry. Combined with this is a discussion of the regions that constitute their production centers. The authors' intensive research on photonics and entertainment media firms, both large and small, leads them to question some basic assumptions behind the new regionalism and to develop an alternative framework for understanding regional economic development policy. Finally, there is a re-examination of what the regional question means for the concept of the learning region. This book draws on the rich contemporary literature on the region but also addresses theoretical questions that preceded "the new regionalism." It will contribute to teaching and research in a range of social science disciplines and this new paperback edition will also make the book more accessible to students and researchers in those disciplines, those individuals who will influence the re-structuring economies of the 21st century.

Organization Behaviour for Leisure Services provides the reader with the conceptual tools necessary for analysing organizational behaviour in the context of hospitality, leisure and tourism provision, and understaanding events in order to take appropriate management action. Taking the view that leisure services involve an array of industry sectors - they are related, for instance, to work-time spent eating, drinking and staying away from home, as well as the more obvious recreational pursuits - the text uses examples and case studies from a wide range of international businesses such as hotels, restaurants, museums, shopping malls and sports stadia. Specific examples used are from Marriotts, McDonald's, Trafford Centre and many more. With a user-friendly structure and style, the text is an ideal introduction to the fundamental issues involved - perfect for students and managers alike. This book discusses and questions a number of key elements, including: The individual and the organization Groups in the organization Organizational structures and behaviour Management within the organization Commercial hospitality, leisure and tourism in a service context There is a Tutor Resource pack available to lecturers who adopt this text. Accredited lecturers can request access to download this material by going to http://books.elsevier.com/academic/defaultmanuals.asp? to request access.

The Market and Its Critics, first published in 1988, considers the reaction of socialist writers to the growth of the market economy in nineteenth century Britain, and examines in detail the diverse elements of the critique which they formulated. Dr Thompson looks at the theoretic and thematic continuities and discontinuities over the century, structuring his study around the idea of a changing socialist response to the market economy. Much of the literature in question is comprehensive, perceptive and acute. However, the writers invariably discounted the possibility of the market playing a role in a future socialist or communist commonwealth. The solutions they posited to the problem were inapplicable to the increasingly industrial economy of the time. It was this that left their writing vulnerable to attack, and which had profound consequences both for the fate of the socialist political economy in nineteenth century Britain and its subsequent evolution in the twentieth century.