In this innovative and very practical book, L. Randall Wray argues that full employment and price stability are not the incompatible goals that current economic theory and policy assume. Indeed, he advances a policy that would generate true, full employment while simultaneously ensuring an even greater degree of price stability than has been achieved in the 1990s. Wray's clearly written argument incorporates incisive historical analysis, modern monetary theory, and an examination of policy alternatives that rises above the doctrinal debates among monetarists, supply-siders and Keynesians over natural or non-inflationary rates of unemployment. Understanding Modern Money proclaims that a labor buffer stock program would guarantee full employment and increase labor productivity and economic growth, while reducing inflationary pressures. Wray's analysis shows that, contrary to popular belief, the dangers of a government budget deficit are largely imaginary. He outlines a program in which the government acts as employer of last resort, thereby providing employment and training to the otherwise unemployed, and stabilizing the wage scale which acts as a brake on inflation. This permits greater price stability without requiring conventional methods such as wage and price controls or countercyclical monetary policy. This ground-breaking book offers important new ways of thinking for policymakers, students, and general readers interested in economics, employment policies, and monetary theory.

America has recently rediscovered its sweatshops. High profile scandals-from Kathy Lee to Nike-have brought the shocking and substandard conditions of factories to light, causing more Americans to become aware of the relationship between the American consumer and foreign laborer. Focusing on sweatshops located in the United States as well as those abroad whose products are purchased by American consumers, these essays offer a historical perspective on sweatshops and on their role in global migration and economics. They also chronicle efforts to control and eradicate sweatshops and suggest how these campaigns were and remain both national and global.

Summarizing the facts about the prevailing sizes of industrial firms or plants and the patterns of industrial location in Britain and America, this text also interprets the facts in basic terms such as technical requirements and consumer habits. Examining investment and human resource management, the contrasts and (unexpected) similarities in the industrial structure and government of the two countries are analysed. The book includes new research into the real seat of power in the British joint stock company and compares the results with the realities of the American corporation.

Part One of this book deals with the theory of how money is created and destroyed. Essential principles are illustrated by considering various models of banking systems. Part Two provides an account of the modern theory of income and employment. * Theory backed up with examples of the simplest to the most complicated models, for example: * The model of "a closed economy without a government" to one in which government expenditure and revenue affect the level of national income * The model in which the rate of interest and quantity of money have no effect and the model in which they are variables relevant to the determination of income

Economic disparity between ethnic and racial groups is a ubiquitous and pervasive phenomenon internationally. Gaps between groups encompass employment, wage, occupational status and wealth differentials. Virtually every nation is comprised of a group whose material well-being is sharply depressed in comparison with another, socially dominant group.
This collection is a cross-national, comparative investigation of the patterns and dynamics of inter-group economic inequality. A wide range of respected experts discuss such issues as:
*a wide range of groups from the Burakumin in Japan to the scheduled castes and tribes in India
*policy attempts to remedy intergroup inequality
*race and labor market outcomes in Brazil.

Under the impressive editorship of William Darity Jr and Ashwini Deshpande, this collection forms an important book. It will be of interest to students and academics involved in racial studies, the economics of discrimination and labor economics as well as policy makers around the world.

This theoretical and empirical study examines the relationship between the organisation of work, industrial relations, production spaces and the dynamics of capitalist investment. Jamie Gough explores the connections between labour process change, products, local economy and society, spaces and forms of competition, and firm's locational strategies. In a path-breaking analysis he shows that these are closely bound up with the business cycle and other rhythms of investment. Differences within the labour process are central to the argument. Gough explores the divisions between workers arising from these differences and from spatial flows of capital, and suggests strategies through which these divisions might be overcome.

Leading experts examine, for the first time, the impact of New Labour policies on the labor market over the past five years. Looking behind the "good news" implied by the lowest headline unemployment rates since the 1970s and by a low and stable rate of inflation, it examines the impact of policies such as the minimum wage, the New Deal, Working Family Tax Credit scheme, policies on lone parents, and changes in the education system.

Contents:
Tables, Figures, Introduction, 1. Labour supply 2. Labour demand and productivity 3. Wage determination and inequality 4. Personnel economics 5. Human capital 6. Labour market discrimination 7. Trade unions and labour markets 8. Labour market flexibility 9. Job search and vacancy analysis 10. Unemployment 11. Globalisation and labour markets, Notes, Bibliography, Index

Richard Layard is one of Britain's foremost applied economists, whose work has had a profound impact on the policy debate in Britain and abroad. This book contains his most influential articles on the subject of unemployment. It is published along with a companion volume Inequality , which deals with these topics and with economic transition. Unemployment explains what causes unemployment and proposes remedies to reduce it. There is a strong focus on how unemployed people are treated and how this affects unemployment - including Layard's well-known recommendation of a job-guarantee for long term unemployed people. Other key topics covered are the effect of unions and wage bargaining, the effect of low skill, and the possible role of rigid employment laws. The book opens with Richard Layard's personal credo Why I became an Economist .

The emergence of voluntary corporate codes of conduct since the early 1990s is both a manifestation of and a response to the process of globalization. They have been part of a more general shift away from state regulation of transnational corporations towards and emphasis on corporate self-regulation in the areas of labour and environmental standards and human rights. This work provides a critical perspective on the growth and significance of corporate codes with a particular focus on working conditions and labour rights. It brings together work by academics, practitioners and activists.

Wage setting has historically been a deeply political and cultural as well as economic process. This informative and accessible book explores how US wage regulations in the twentieth century took gender, race-ethnicity and class into account. Focusing on social reform movements for living wages and equal wages, it offers an interdisciplinary account of how women's work and the remuneration for that work has changed along with the massive transformations in the economy and family structures.
The controversial issue of establishing living wages for all workers makes this book both a timely and indispensable contribution to this wide ranging debate, and it will surely become required reading for anyone with an interest in modern economic issues.

This book explores the gender issues associated with international migration in dual career households. Adopting a feminist approach, the author links research in economics, sociology, management and business and human geography to explore post-industrial managerial and professional careers. Particular emphasis is placed on the way in which social mobility and spatial mobility are entwined.
The author explores the location and mobility decisions of dual career households, examining their personal and household biographies as well as published statistics.
The chapters examine the following aspects of the subject:
Of essential interest to scholars of human geography, sociology and gender studies, this book will also interest those working in organizational, migration and urban studies.

eBook available with sample pages: 0203470753

My interest in X-Efficiency (XE) dates back to 1978. At the time, I was writing the dissertation for my Ph. D. at Washington State University. My dissertation was concerned with the role of attitudes in the school-to-work transition among young men. I was advised by Professor Millard Hastay (a member of my committee) to look at Leibenstein's "new" book, Beyond Economic Man. One of the things that caught my attention was his be havioral description of (selective) rationality. It seemed that Leibenstein's behavioral description of a (selectively) rational individual was very similar to what psychologists such as Abraham Maslow were reporting as being the product of a particular motivational system. In other words, I was im pressed with the idea that what Leibenstein was referring to as X-ineffi ciency was being discussed by psychologists as "the way it (often) is. " So from the beginning I always considered the concept of X-(in)efficiency to be a valuable one for understanding human behavior. I have since come to believe that this is particularly true when considering behavior in non market environments, i. e., within the firm. Work on this book, however, can most realistically said to have started with work which I began in 1982 while I was a Visiting Scholar at Harvard University. Professor Leibenstein suggested that I consider how some em pirical evidence which was being cited as evidence for the role of property rights might also be consistent with XE theory."

This volume contains the proceedings of a conference held to assess the current state of the analysis of the labour market and of industrial relations and their relationship to economic performance.;The matters covered include the value of the corporatist approach versus alternatives, for example, a sort of sector corporatism or a corporatist approach at the level of the firm; the future scenarios for industrial relations with a series of county studies with special reference to incomes policies and the departures from various neocorporatist models; the importance of institutions and public structures in industrial relations; labour market flexibility and unemployment.

This text provides an essential introduction to the ideas and skills of creative problem solving. It shows how and why people are blocked in their thinking, how this impairs the creative problem solving process, and how creative problem solving techniques can help overcome these difficulties. Theories of creative thinking are critically examined and used to justify the variety of techniques which can be used to find insights into difficult management problems. Contents include: * paradigm shift and the need for creative thinking in management * blocks to creativity and how to overcome them * defining and redefining problems * Extensive explanations and illustrations of the methods and techniques of the creative problem solving process - Lateral Thinking, Morphological Analysis and Synectics * evaluating ideas - qualitative and quantitative approaches * implementing and managing ideas. Using case-studies and case histories, together with extensive diagrams, examples and thought-provoking questions, this textbook provides the most up-to-date and extensive approach to this important topic.

Het is mogelijk dat het orimogelijk is om iets nieuwer enjuister te zeggen, maar over al het geschrevene daalt het stof der tijden neer, en ik peins daarom dat het goed is als er om de 10 jaar een andere een kruis trekt over al die oude dingen, en de wereld-van-vandaag opnieuw uitspreekt 1 met andere woorden. -Louis Paul Boon (1972) 1.1 THE PROBLEM The distribution of labor incomes is a problem with two aspects, each of which has received ample attention in the literature. The first aspect relates to the shape of the frequency distribution of individuals according to their (labor) incomes. Analytical contributions include the so-called stochastic theories of income dis- tribution, such as Gibrat's law of proportionate effect, Champernowne's and Rutherford's Markov-chain models, and Pigou's puzzle. The question is, If abil- ities are normally distributed, why should the distribution of incomes deviate from this shape? This deviation is the basic fact that these theories explain: in- come distributions, whatever the time and place of observation, are positively skewed. 2 CHAPTER 1 The second aspect of the distribution of labor incomes is the problem of wage differentials: why do wages differ, why do all workers not earn the same wage? This question has been a standard problem ever since Adam Smith dealt with it.

'All in all, the chapters of the volume provide insightful material 'about how different forms of precarious work are linked to speci?c institutional changes in the labour market and laws governing it but also how they are linked to each other'. . . Situated in the ?eld of Global Labour Studies, the volume goes beyond one of the most central weaknesses of the discipline: its optimistic bias. By systematically including cases in which trade failed or chose not to engage in the organization of precarious workers, the contributions pave the way to a deeper understanding of the challenges within this ?eld.' - British Journal of Industrial Relations With the renaissance of market politics on a global scale, precarious work has become pervasive. This edited collection explores the spread across a number of economic sectors and countries worldwide of work that is invariably insecure, dirty, low-paid, and often temporary and/or part-time. The first part of this cross-disciplinary book analyses the different forms of precarious work that have arisen over the past thirty years in both the Global North and South. These transformations are captured in ethnographically orientated chapters on sweatshops, day labour, homework, Chinese construction workers unpaid contract work, the introduction of insecure contracting into the Korean automotive industry, and the insecurity of Brazilian sugarcane cutters. The case studies all shed light upon how the nature of work and the workplace are changing under the pressures of neoliberal capitalism and what this means for workers. In the second part the editors and contributors then detail some of the ways in which precarious workers are seeking to improve their own situations through their efforts to counter the growth of precarity under neoliberal capitalism, efforts that involve collectively exploring forms of resistance to work restructuring and the failures of traditional trade unions to fully engage with precarious work's growth. Illustrating the impacts of the expansion of precarious work, this book will appeal to students, academics and those generally interested in the issues of the global economy, the reworking of labour markets, the impacts of neoliberal capitalism and ethnographies of the working poor in various parts of the world. Contributors include: L.L.M. Aguiar, M.J. Barreto, S. Chauvin, J. Cock, B. Garvey, M. Gillan, D. Hattatoglu, A. Herod, L. Huilin, K. Joynt, R. Lambert, P. Ngai, J. Tate, M. Thomas, E. Webster, A. Yun

Employing both large-scale surveys and in-depth interviews, the authors document the mental health effects on workers caused by the closure of four General Motor plants. They paint a portrait of how the social context in which these workers lived played a critical role in their experiences of unemployment or of keeping their jobs when others around them lost theirs. More than simply a study of unemployment and mental health, this book is also a story of coping and resilience.

This book challenges some of the fundamental tenets of "free market" economics that have had a profound impact on public policy and the plight of the American worker. These include the beliefs that high wages inevitably mean low profits; that a "free" market will automatically reduce discrimination and pay inequality; that anti-trust legislation hinders competitive market forces; and that minimum wage laws and trade unions negatively impact the economy.

Using both theoretical analysis and real-life examples, the author shows that these myths are a product of unrealistic behavioral assumptions on the part of "free market" economists about the typical worker. In fact, as the author makes clear, the level of workers' satisfaction with their jobs, as a reflection of how well they are paid and treated by their employers, has a direct impact on the quality level of the products they produce and, inevitably, the economic performance of the firms.

In Work and Pay in the United States and Japan, authors Clair Brown, Yoshifumi Nakata, Michael Reich, and Lloyd Ulman provide an integrated and detailed analysis of the components of firm human resources systems in the US and Japan. Drawing on data obtained from fieldwork in comparable establishments in these two countries, as well as from national sources, this work examines the relationship between company practices and national economic institutions.
The authors address a number of key questions about employer-employee relations. How have major Japanese manufacturing companies been able to convert the assurance of "lifetime" employment security into a source of superior employee efficiency and adaptability, when job and income security have been feared as a source of "shirking" and wage inflation in the US? How have higher economic and real wage growth rates been associated with greater equality in earned income distribution in Japan, when the incentive role of income inequality to worker effort and savings has been stressed in the US? How could Japanese emphasis on employment security in the firm be reconciled with greater price stability and lower unemployment than in the US? This work analyzes elements such as employee training and involvement programs, wage behavior as an incentive system and an alternate channel of savings, and synchronous wage determination (shunto) at work in the Japanese economy that provide for such successes.
The book also explores the costs that have been associated with these Japanese accomplishments, as well as who must bear them. In particular, it examines how Japanese women compare less favorably with American women in terms of opportunities for work, pay, and promotion; the higher hours of working time for men in Japan than in the US; and the constraints on mobility for Japanese workers. It also poses the question of whether Japanese unions are weaker than their American counterparts, or just more sensible and far-sighted. Finally, this \ork examines the outlook for these distinctive Japanese institutions and practices in a period of slower growth and economic "maturity."
Based on a research project carried out in both countries, the book concludes with the lessons that each country can learn much from the employment practices of the other. Work and Pay in the United States and Japan will be essential reading for students, professors, and all professionals involved with employment systems and employer-employee relations.

Bruno Jossa expertly illustrates that the creation of a system of cooperative firms is tantamount to a revolution giving rise to a new production mode capable of reversing the existing relationship between capital and labour. The book also demonstrates a revolution enacted by peaceful and democratic means in order for worker-managed organisations to outnumber capitalistic ones. Providing a comprehensive insight into these models, Jossa examines the relations between political power and economic democracy, ownership and bankruptcy risks within democratic organisations. Using the theories of Marx and Engels, the book offers a new model of socialism, allowing for a worker-led system and suppressing capitalism, whilst inviting a more theoretical approach without the suppression of markets. Thought-provoking in its approach, On Market Socialism will provide an excellent resource for policy makers in labour and political economics and also scholars of the history of economics and radical economics.

The emergence of open unemployment is an unavoidable consequence of postcommunist transition. Some countries - notably in the former Soviet Union - initially slowed economic contraction. But in the longer run slower reformers have generally sustained deeper and more prolonged recessions than faster reforming central European countries. Moreover, the initially low unemployment rates in the former Soviet Union are now rising, and may stabilize at higher post-transition equilibrium rates than in Central Europe. Across the region, real wages reacted in unexpected ways, with significant effects for employment. Productivity gains in Central European industry tended not to be passed along into proportional real wage increases, slowing inflows into unemployment. In addition, and contrary to some earlier assessments, the restructuring process affected not only wage structures, but also the level of unemployment over time. An important constraint on post-socialist countries' response to unemployment is the role served by EU social insurance and labour law standards as guides to countries' progress toward "normal" economic systems. When considering the possible impact of EU integration and ha

John Hicks's writing on monetary economics spans over 50 years. This book draws together the common threads of his work in a single succinct statement of the basics of monetary theory. It also outlines a theory of competitive markets which can be linked to the monetary sector; neither standard classical or neo-classical value theory can , on its own, fill the gap between monetary and non-monetary economics. In reviewing his own work, Hicks explains the way in which economic theory has been adjusted to reflect developments in the real economy. He sees these changes, sometimes quite major, as the discovery of truths which have become more appropriate, rather than the the discovery of completely new truths.

This book asks anew whether there really was European integration before 1914. By focussing on quantitative (economic indicators) and qualitative data (the international regulation of patents, communication networks, social policy and plant protection), the authors re-evaluate European integration of the time and address the politics of seemingly apolitical cooperation. The authors show that European integration was multifaceted and cooperation less the result of intent, than of incentives. National polities and international regimes co-shaped each other. The result is a book that achieves two things: offer stand-alone chapters that shed light on specific developments and - these read altogether - develop a bigger picture. It will be of interest to researchers and students of economic history, as well as those interested in the history of internationalism and globalisation.