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Books > Business & Economics > Economics > Macroeconomics

Ten Crises - The Political Economy of China's Development (1949-2020) (Hardcover, 1st ed. 2021): Tiejun Wen Ten Crises - The Political Economy of China's Development (1949-2020) (Hardcover, 1st ed. 2021)
Tiejun Wen; Contributions by Lau Kin Chi, Sit Tsui
R1,596 Discovery Miles 15 960 Ships in 10 - 15 working days

This open access handbook, Ten Crises systematically traces the economic historyof China from 1949 to 2020, unravelling the complex domestic and global factorsleading to the cyclical crises identified by WEN and his research team, andexamining the corresponding counteracting policies and measures by thegovernment to resolve or defer the crises. The book offers profound insights intoChina's endeavours and predicaments on the path of modernization, andcontemplates opportunities and lessons for the forging of alternative trajectoriesnot only for China but also for the global south: to reconstruct rural communitiesfor integrated cooperation and governance, and to revitalize ecological civilization.

Currency Internationalization and Macro Financial Risk Control (Hardcover, 1st ed. 2018): International Monetary Institute Currency Internationalization and Macro Financial Risk Control (Hardcover, 1st ed. 2018)
International Monetary Institute
R4,644 Discovery Miles 46 440 Ships in 10 - 15 working days

This book collects expert opinions, research, and risk assessments from within the Chinese financial policy establishment on prospects for the internationalization of the renminbi as a reserve currency around the world. As China's economy diversifies in the acquisition of global assets, the renminbi may partially displace the dollar or yen as a reserve currency, with unpredictable and profound potential consequences. This book, presenting for the first time in English, the Chinese perspective on the internationalization of the Chinese currency will be of great value to central bankers, financiers, and students of international finance.

The ECONOMIC SURPLUS IN ADVANCED ECONOMIES (Hardcover): John B. Davis The ECONOMIC SURPLUS IN ADVANCED ECONOMIES (Hardcover)
John B. Davis
R3,242 Discovery Miles 32 420 Ships in 12 - 17 working days

The theory of monopoly capital is central to any satisfactory analysis of accumulation and stagnation in advanced capitalist economies. This major new book presents in one volume recent discussions of monopoly capitalism to emphasize the centrality and vitality of this tradition in modern political economy.Following the work of Kalecki, Steindl and Baran and Sweezy, a number of leading economists address key issues such as the calculation of the economic surplus, the division of income between labour and capital, oligopoly collusion over output and pricing, the growth of unproductive activity, the degree of monopoly, surplus absorption and stagnation and the history of the present crisis.

KEYNES, COORDINATION AND BEYOND - The Development of Macroeconomic and Monetary Theory since 1945 (Hardcover): Harry Garretsen KEYNES, COORDINATION AND BEYOND - The Development of Macroeconomic and Monetary Theory since 1945 (Hardcover)
Harry Garretsen
R3,494 Discovery Miles 34 940 Ships in 12 - 17 working days

This book argues that the coordination problem lies at the heart of Keynes's economics. It shows how Keynes's message got lost in the post-War period and develops a more fruitful extension of Keynes's ideas within a general equilibrium framework and alternative frameworks such as post Keynesian and Austrian economics. It is demonstrated that in the absence of a coordinating device like the Walrasian auctioneer or in the presence of uncertainty, coordination can no longer be superimposed. This ultimately implies that apart from some notable exceptions, the Keynesian revolution was in fact stifled at birth because the validity of the central concepts of microeconomics have never been challenged.This lively and fascinating book is likely to provoke debate amongst economists and policymakers. Its conclusions place a question mark over the development of economic theory since the Second World War.

The CO-ORDINATION OF THE LAWS OF DISTRIBUTION - by Philip H. Wicksteed (Hardcover, 2nd Revised edition): Ian Steedman The CO-ORDINATION OF THE LAWS OF DISTRIBUTION - by Philip H. Wicksteed (Hardcover, 2nd Revised edition)
Ian Steedman
R2,890 Discovery Miles 28 900 Ships in 12 - 17 working days

Wicksteed's classic work, The Co-ordination of the Laws of Distribution, has a central place within the development of marginal productivity theory. It claimed to explain all 'factor returns' on a unified basis and to show how 'marginal productivity factor pricing' just exhausted the total product. It is presented here with a long introduction by the editor, Ian Steedman, who provides both a careful analysis of the text and an assessment of Wicksteed's place within the development of modern economics. This important new edition will make The Co-ordination of the Laws of Distribution accessible to a fresh generation of economists.

Distribution and Growth after Keynes - A Post-Keynesian Guide (Paperback): Eckhard Hein Distribution and Growth after Keynes - A Post-Keynesian Guide (Paperback)
Eckhard Hein
R1,540 Discovery Miles 15 400 Ships in 12 - 17 working days

This book offers an assessment of theories of distribution and growth after Keynes. It presents an overview of the main contributions with a particular focus on the development of post-Keynesian/Kaleckian models.In the first part of the book, Eckhard Hein presents a comprehensive overview of the main approaches towards distribution and growth including the contributions of Harrod and Domar, old and new neoclassical theories including the fundamental capital controversy critique, the post-Keynesian contributions of Kaldor, Pasinetti, Thirlwall and Robinson, and finally the approaches by Kalecki and Steindl. In the second part of the book neo- and post-Kaleckian models are gradually developed, introducing saving from wages, international trade, technological progress, interest and credit. Issues of ?financialisation? are also explored and empirical results related to the different models are presented. This unique book is designed for courses in distribution and growth in graduate programmes or at the advanced undergraduate level. It can also be used as supplementary reading for classes in macroeconomics. The book should also be of value for researchers interested in issues of distribution and growth.

The Economics of Foreign Exchange and Global Finance (Hardcover, 3rd ed. 2020): Peijie Wang The Economics of Foreign Exchange and Global Finance (Hardcover, 3rd ed. 2020)
Peijie Wang
R3,702 Discovery Miles 37 020 Ships in 10 - 15 working days

This textbook presents all major topics in international monetary theory, foreign exchange markets, international financial management and investment analysis. It focuses on real-world problems in the sense that it provides guidance on how to solve policy issues as well as how to complete financial assignments across the globe. This in turn helps readers gain an understanding of the theory and refine the framework. This third edition of the book incorporates three new chapters, and most of the chapters from the second edition have been updated to integrate new material, data, and/or the recent developments in the areas. The book can be used in graduate and advanced undergraduate programs in international or global finance, international monetary economics, and international financial management. It is also a valuable reference book for researchers in these areas.

Income Inequality - Why It Matters and Why Most Economists Didn't Notice (Hardcover): Matthew P. Drennan Income Inequality - Why It Matters and Why Most Economists Didn't Notice (Hardcover)
Matthew P. Drennan
R1,586 Discovery Miles 15 860 Ships in 12 - 17 working days

The first book-length treatment to conclusively demonstrate the link between income inequality and the 2008 financial crisis and Great Recession Prevailing economic theory attributes the 2008 crash and the Great Recession that followed to low interest rates, relaxed borrowing standards, and the housing price bubble. After careful analyses of statistical evidence, however, Matthew Drennan discovered that income inequality was the decisive factor behind the crisis. Pressured to keep up consumption in the face of flat or declining incomes, Americans leveraged their home equity to take on excessive debt. The collapse of the housing market left this debt unsupported, causing a domino effect throughout the economy. Drennan also found startling similarities in consumer behavior in the years leading to both the Great Depression and the Great Recession. Offering an economic explanation of a phenomenon described by prominent observers including Thomas Piketty, Jacob Hacker, Robert Kuttner, Paul Krugman, and Joseph Stiglitz, Drennan's evenhanded analysis disproves dominant theories of consumption and draws much-needed attention to the persisting problem of income inequality.

FT Guide to Foreign Exchange Trading - FT Guide to Foreign Exchange Trading (Paperback): Stuart Fieldhouse FT Guide to Foreign Exchange Trading - FT Guide to Foreign Exchange Trading (Paperback)
Stuart Fieldhouse
R722 Discovery Miles 7 220 Ships in 12 - 17 working days

An introduction to the fast growing $1.5 billion foreign exchange trading marketplace, showing you how the markets work, how to trade them successfully and how to mitigate risk.

"The Financial Times Guide to Foreign Exchange Trading"is the authoritative primer, the first port of call for anyone interested in foreign exchange trading and wants to know what it is all about before taking the plunge.

Fiscal Consolidation in the Euro Crisis - Politico-economic and Institutional Causes (Hardcover, 1st ed. 2021): Kai Guthmann Fiscal Consolidation in the Euro Crisis - Politico-economic and Institutional Causes (Hardcover, 1st ed. 2021)
Kai Guthmann
R3,125 Discovery Miles 31 250 Ships in 10 - 15 working days

This book sheds new light on if and why, between 2009 and 2015, European governments succeeded or failed in initiating and actually realizing some of the farthest-reaching austerity plans in modern history. The author analyzes the economic and political context and the underlying causes of austerity and economic adjustment packages during the Euro crisis. In doing so, he shows that austerity has its roots in an institutional mismatch between capitalist diversity in the Eurozone on the one hand, and an ill-conceived common economic regime on the other. In this context, austerity trumped politics, and even democracy itself. The book will appeal to scholars of political science and comparative political economy, as well as governmental policymakers and practitioners in the finance sector.

The ECONOMICS OF RESTRUCTURING AND INTERVENTION (Hardcover): Jonathan Michie The ECONOMICS OF RESTRUCTURING AND INTERVENTION (Hardcover)
Jonathan Michie
R3,047 Discovery Miles 30 470 Ships in 12 - 17 working days

The Economics of Restructuring and Intervention carries forward the work of Marx, Kalecki, Keynes and Kaldor in analysing questions of growth, distribution and government intervention. It will be essential reading for all those wishing to understand the massive economic and political shifts as we enter the 1990s - the globalization of markets and production, continued growth of the Third World and East European debt, the emerging digital economy. Political debates thrown up by these economic, industrial and technological developments are subject to rigorous scrutiny and critique - from the employment effects of wage cuts to the calls for 'supply side socialism'.

The SUPPLY SIDE REVOLUTION IN BRITAIN (Hardcover, illustrated edition): Patrick Minford The SUPPLY SIDE REVOLUTION IN BRITAIN (Hardcover, illustrated edition)
Patrick Minford
R3,344 Discovery Miles 33 440 Ships in 12 - 17 working days

Patrick Minford has been a close adviser to Mrs Thatcher during the last decade. He has made an important contribution to the ideas of Thatcherism and Britain's monetarist/supply side programme in the 1980s.This book brings together, for the first time, essays written as a contribution to the supply side revolution in Britain. Some focus on monetary and fiscal policy, while others deal with the principles and mechanisms for supply side reform. Taken together, they represent an invaluable source book and reference point on the political philosophy and economic strategy of the Thatcher era. The essays were all written for a wide audience and will be essential reading for both economists and non-economists alike.

The SUPPLY SIDE REVOLUTION IN BRITAIN (Paperback, illustrated edition): Patrick Minford The SUPPLY SIDE REVOLUTION IN BRITAIN (Paperback, illustrated edition)
Patrick Minford
R1,085 Discovery Miles 10 850 Ships in 12 - 17 working days

Patrick Minford has been a close adviser to Mrs Thatcher during the last decade. He has made an important contribution to the ideas of Thatcherism and Britain's monetarist/supply side programme in the 1980s.This book brings together, for the first time, essays written as a contribution to the supply side revolution in Britain. Some focus on monetary and fiscal policy, while others deal with the principles and mechanisms for supply side reform. Taken together, they represent an invaluable source book and reference point on the political philosophy and economic strategy of the Thatcher era. The essays were all written for a wide audience and will be essential reading for both economists and non-economists alike.

The WORLD ECONOMY IN PERSPECTIVE - Essays on International Trade and European Integration (Hardcover): Herbert Giersch The WORLD ECONOMY IN PERSPECTIVE - Essays on International Trade and European Integration (Hardcover)
Herbert Giersch
R3,733 Discovery Miles 37 330 Ships in 12 - 17 working days

Herbert Giersch's contribution to economics has ranged widely over international economics, European integration and the economics of entrepreneurship. This book presents in one volume a selection of some of his most important essays and papers. It encompasses the gradual evolution of his work from its beginnings to his most recent contributions to the debate on the future of the European Economic Community. It contains some of his most significant work during the last 30 years and includes material that is not widely available. It will be an essential reference point for all economists concerned with entrepreneurship, the world economy and Europe.

Eurasian Economic Perspectives - Proceedings of the 23rd Eurasia Business and Economics Society Conference (Hardcover, 1st ed.... Eurasian Economic Perspectives - Proceedings of the 23rd Eurasia Business and Economics Society Conference (Hardcover, 1st ed. 2020)
Mehmet Huseyin Bilgin, Hakan Danis, Goekhan Karabulut, Giray Goezgor
R4,430 Discovery Miles 44 300 Ships in 12 - 17 working days

This book presents selected papers from the 23rd Eurasia Business and Economics Society (EBES) Conference, held in Madrid, Spain. While the theoretical and empirical papers presented cover diverse areas of economics and finance in different geographic regions, the main focus is on the latest research concerning international trade, public economics, and regional studies. The book also includes studies on the economics of innovation, inequality and tourism.

Productivity and the Pandemic - Challenges and Insights from Covid-19 (Hardcover): Philip McCann, Tim Vorley Productivity and the Pandemic - Challenges and Insights from Covid-19 (Hardcover)
Philip McCann, Tim Vorley
R3,434 Discovery Miles 34 340 Ships in 12 - 17 working days

This forward-thinking book examines the potential impacts of the Covid-19 pandemic on productivity. Productivity and the Pandemic features 21 chapters authored by 46 experts, examining different aspects of how the pandemic is likely to impact on the economy, society and governance in the medium- and long-term. Drawing on a range of empirical evidence, analytical arguments and new conceptual insights, the book challenges our thinking on many dimensions. With a keen focus on place, firms, production factors and institutions, the chapters highlight how the pre-existing challenges to productivity have been variously exacerbated and mitigated by the pandemic and points out ways forward for appropriate policy-thinking in response to the crisis. An important read for scholars and students interested in the impact of the pandemic, this book will also be an invigorating read for economists and policy-makers looking for more information on how the pandemic and resulting economic recession is affecting productivity.

Investment Decisions and the Logic of Valuation - Linking Finance, Accounting, and Engineering (Hardcover, 1st ed. 2020): Carlo... Investment Decisions and the Logic of Valuation - Linking Finance, Accounting, and Engineering (Hardcover, 1st ed. 2020)
Carlo Alberto Magni
R2,154 Discovery Miles 21 540 Ships in 12 - 17 working days

This book presents a new approach to the valuation of capital asset investments and investment decision-making. Starting from simple premises and working logically through three basic elements (capital, income, and cash flow), it guides readers on an interdisciplinary journey through the subtleties of accounting and finance, explaining how to correctly measure a project's economic profitability and efficiency, how to assess the impact of investment policy and financing policy on shareholder value creation, and how to design reliable, transparent, and logically consistent financial models. The book adopts an innovative pedagogical approach, based on a newly developed accounting-and-finance-engineering system, to help readers gain a deeper understanding of the accounting and financial magnitudes, learn about new analytical tools, and develop the necessary skills to practically implement them. This diverse approach to capital budgeting allows a sophisticated economic analysis in both absolute terms (values) and relative terms (rates of return), and is applicable to a wide range of economic entities, including real assets and financial assets, engineering designs and manufacturing schemes, corporate-financed and project-financed transactions, privately-owned projects and public investments, individual projects and firms. As such, this book is a valuable resource for a broad audience, including scholars and researchers, industry practitioners, executives, and managers, as well as students of corporate finance, managerial finance, engineering economics, financial management, management accounting, operations research, and financial mathematics. It features more than 180 guided examples, 50 charts and figures and over 160 explanatory tables that help readers grasp the new concepts and tools. Each chapter starts with an abstract and a list of the skills readers can expect to gain, and concludes with a list of key points summarizing the content.

Wages and Profits in the Capitalist Economy - The Impact of Monopolistic Power on Macroeconomic Performance in the USA and the... Wages and Profits in the Capitalist Economy - The Impact of Monopolistic Power on Macroeconomic Performance in the USA and the UK (Hardcover)
Andrew Henley
R3,272 Discovery Miles 32 720 Ships in 12 - 17 working days

Wages and Profits in the Capitalist Economy provides an incisive study of the impact of monopolistic power on macroeconomic performance in the USA and the UK since 1945, within a post-Kaleckian framework.It provides new evidence to suggest that the implications of monopolistic power, in both product and labour markets, are important in understanding macroeconomic performance. It argues that the rise and fall in profitability that accompanies the cycle of boom and recession is indicative of the operation of oligopolistic markets. Furthermore, the political economy of the distribution of income exacerbates macroeconomic instability. The book concludes that traditional Keynesian approaches favouring solutions to increase economic growth, and neoclassical approaches advocating supply-side policies to suppress conflict over distribution, may offer little prospect of long-term economic stability.

On Informal Institutions and Accounting Behavior (Hardcover, 1st ed. 2021): Xingqiang Du On Informal Institutions and Accounting Behavior (Hardcover, 1st ed. 2021)
Xingqiang Du
R3,459 Discovery Miles 34 590 Ships in 10 - 15 working days

This book focuses on the Chinese context to investigate how informal institutions (Confucian culture and its dimensions, religion, political connections) in China affect accounting behaviors. This book tries to show that cultural influence and religious impacts in China are not trivial and increasingly important, and specifically, informal institutions have its bright and dark sides with regard to its effects on accounting behaviors. This book aims to investigate whether and how informal institutions (Confucian culture and its dimensions, religion, political connections) affect micro-level accounting behaviors, including but not limited to audit quality, financial misstatement, R&D, corporate misconducts, corporate philanthropy and corporate environmental responsibility. This book provides graduate students, scholars and practitioners in the fields of accounting, business administration and religion with an in-depth understanding about how informal institutions as a set of social norms affect micro-level accounting behaviors. First, this book is the first to focus on the Chinese context and investigate the effects of informal institutions on accounting behavior. Second, this book documents systematic evidence to show the bright and dark sides with regard to the relation between informal institutions and accounting behavior in China. Lastly, this book reveals informal institutions can serve as an important mechanism to affect accounting behaviors.

Sharing Economics - Theory Essence and Development Law (Hardcover, 1st ed. 2021): YuMing Zhang Sharing Economics - Theory Essence and Development Law (Hardcover, 1st ed. 2021)
YuMing Zhang
R3,436 Discovery Miles 34 360 Ships in 10 - 15 working days

This book has studied the principle, essence and development law of sharing economics. First of all, it analyzes the inevitability of sharing economics as the mainstream and determines that its research object is the social resources of the production, gathering, exchange, use, distribution and value creation disciplines. Secondly, it defines and analyzes the connotation, scope, concept, characteristics, research hypothesis, property right attribute, constituent elements and income distribution of the sharing economics which aims to improve the efficiency of resource allocation and reduce the market transaction cost. This book is characterized by the construction of a theoretical system composed of contingency, cooperative consumption, cognitive surplus and impersonal transaction. This book provides readers with a theoretical theory of sharing economics and an important theoretical reference for innovative entrepreneurship.

Economic Globalization and Governance - Essays in Honor of Jorge Braga de Macedo (Hardcover, 1st ed. 2021): Luis Brites... Economic Globalization and Governance - Essays in Honor of Jorge Braga de Macedo (Hardcover, 1st ed. 2021)
Luis Brites Pereira, Maria Eugenia Mata, Miguel Rocha De Sousa
R4,400 Discovery Miles 44 000 Ships in 10 - 15 working days

Reflecting the diverse and profound changes triggered by the latest wave of economic globalization, this book highlights various governance responses at national, regional and global levels. The topics covered are wide-ranging and include economic history and development, European integration, exchange rate arrangements, industrial and labor economics, international cooperation and multilateralism, and public choice. The book is divided into three parts: The first part, which contains contributions by Barry Eichengreen and Marc Flandreau, is devoted to economic history. The second part examines open economy macroeconomics with a focus on Europe, including contributions by Jurgen von Hagen and Paul Krugman. The third part presents contributions to international political economy, and related interdisciplinary topics. This Festschrift is written in honor of Jorge Braga de Macedo, Professor Emeritus of Economics at the Nova School of Business and Economics and a distinguished Portuguese academic whose work has an impressive global reach. The contributions, written by a selection of international authors, deal with his oeuvre covering the wide range of topics broached in this book, as his publication record amply attests.

Structural Reforms - Moving the Economy Forward (Hardcover, 1st ed. 2018): Jakob de Haan, Jante Parlevliet Structural Reforms - Moving the Economy Forward (Hardcover, 1st ed. 2018)
Jakob de Haan, Jante Parlevliet
R2,905 Discovery Miles 29 050 Ships in 10 - 15 working days

This book presents a selection of contributions on the timely topic of structural reforms in Western economies, written by experts from central banks, the International Monetary Fund, and leading universities. It includes latest research on the impacts of structural reforms on the market economy, especially on the labor market, and investigates the results of collective bargaining in theory and practice. The book also comprises case studies of structural reforms. A literature survey on the topic serves as a valuable source for further research. The book is written by and targeted at both academics and policy makers.

The Macroeconomics of Corruption - Governance and Growth (Hardcover, 2nd ed. 2021): Maksym Ivanyna, Alex Mourmouras, Peter... The Macroeconomics of Corruption - Governance and Growth (Hardcover, 2nd ed. 2021)
Maksym Ivanyna, Alex Mourmouras, Peter Rangazas
R3,097 Discovery Miles 30 970 Ships in 12 - 17 working days

This textbook examines corruption through a macroeconomic lens, exploring the relationship between corruption, fiscal policy, and political economy. It merges macroeconomic growth models with elements of political economic theory to address important applied topics such as income inequality within and across countries, growth slowdowns, and fiscal crises. Revised and updated to include new research findings and recent policy discussions, the second edition contains 15 new sections and 2 new chapters on topics such as public defaults, the wage elasticity of work and the interest elasticity of saving, and the economic and fiscal impact of the 2020 pandemic. Most of the basic ideas are illustrated using a two-period model of government investment that captures the future cost of policies that favor the present. The more subtle and advanced issues are illustrated and, in some cases, quantified, using the overlapping-generations model of economic growth. The models used to illustrate the mechanisms of economic growth are extended to incorporate politics and the behavior of public official. The text concludes with a thorough discussion of policy reforms designed to address the issues discussed in earlier chapters. Intended for students familiar with intermediate-level economics, the second edition contains a technical appendix, expanded end-of-chapter questions and problems, and a complete solutions manual. The second edition also offers updated resources for instructors, including sample syllabi and over 550 multiple choice questions. Offering a unified explanation for the causes and consequences of government failure, fiscal crisis, and needed policy reforms, this text is appropriate for advanced undergraduate and beginning graduate courses in macroeconomics, political economy, and public policy.

Monetary Scenarios - A Modern Approach to Financial Systems (Hardcover): Peter E. Earl Monetary Scenarios - A Modern Approach to Financial Systems (Hardcover)
Peter E. Earl
R4,014 Discovery Miles 40 140 Ships in 12 - 17 working days

Monetary Scenarios is an original synthesis of post Keynesian macroeconomic and monetary theory with the new microeconomics of the behavioural, transaction cost and public choice theorists. These theoretical ideas are integrated with recent historical and institutional material from the United Kingdom, the United States and Australasia.

Moving Money - The Future of Consumer Payments (Paperback): Robert E Litan, Martin Neil Baily Moving Money - The Future of Consumer Payments (Paperback)
Robert E Litan, Martin Neil Baily
R742 Discovery Miles 7 420 Ships in 12 - 17 working days

Once we paid for things with bills, coins, or checks. Today we pay with zeroes and ones --digital entries on credit and debit cards, or electronic messages sent over the Internet. In "Moving Money," distinguished analysts explore this trend, its development and likely future, and the ramifications of this transformation.

This is a book about money as a medium of exchange --in the past, in the present, but particularly in the future. What forms has money taken over the years? Moreover, how have those means of payment changed in recent years, and how will they develop in the future? And what (if anything) should policymakers do to facilitate those changes, or at least allow them to develop and mature? Brookings economists Robert E. Litan and Martin Neil Baily and a distinguished group of experts dissect these issues and peer into the future of consumer payments.

The landscape of the consumer payments industry will be shaped at least in part by public policies. Historically, governments have had monopolies on the manufacture of money. Any form of payment clearly requires trust on the part of both the seller and the buyer, and the government must establish and enforce laws to secure this relationship. More controversial is the issue of whether, and to what extent, government is also needed to protect the market in private sector payments systems.

Why do these issues matter? The payments industry is a large and important sector of developed economies. In the United States, private-sector payments providers generate approximately $280 billion a year in revenue, while the government invests substantial resources into making money (minting coins and printing bills) or moving it (via checks and various electronic transfers). And the way we pay for things influences our purchases --what we spend money on, how much we spend, and where we spend it. Thus the future of consumer payments is intertwined with the health of national economies.

Contributors: Martin Neil Baily (Brookings), Thomas P. Brown (O'Melveny & Myers), Kenneth Chenault (American Express Company), Vijay D'Silva (McKinsey and Company), Nicholas Economides (New York University), David S. Evans (Market Platform Dynamics), Robert E. Litan (Brookings and Kaufmann Foundation), Drazen Prelec (Massachusetts Institute of Technology), Richard Schmalensee (Massachusetts Institute of Technology)

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