Post-Keynesian Growth Theory is the second volume of Marc Lavoie's Selected Essays, and is a collection of 18 articles published between 1995 and 2020, on themes touching growth and distribution. The book contains an extended foreword by Eckhard Hein, and an introduction by Lavoie that recalls how he became attracted to post-Keynesian growth theory more than 45 years ago, and explains how and why this book came about. The collection includes a number of papers showing Lavoie's evolving approach to neo-Kaleckian models of growth and distribution, incorporating hysteresis, overhead labour, monetary issues, price inflation, as well as various sources of autonomous non-capacity creating expenditures. It shows how all of these interact with alternative Marxian or Sraffian approaches as well. A section of the book is also devoted to two-sector models, in particular the issue of the traverse from one equilibrium to another, extending the Kaleckian model but also providing insights into the works of Hicks and Pasinetti. Both professors and graduate students will benefit from the decades of experience and wisdom amassed and presented in Post-Keynesian Growth Theory.

This book employs a qualitative analysis of China's publicly financed construction sector, taking the system design as its point of departure and applying comprehensive evaluation techniques to create an index system for this type of construction - which in turn serves as a basis for quantitatively evaluating China's publicly financed construction sector. Given the fact that China's publicly financed construction sector is a very complex field of systems engineering involving multiple subsystems, as an important indicator of China's fiscal innovations since its reform and opening, publicly financed construction is now shifting from theory to practice, demonstrating that China has entered an era of fully publicly financed construction.

While standard accounts of the 1930s debates surrounding economic thought pit John Maynard Keynes against Friedrich von Hayek in a clash of ideology, this reflexive dichotomy is in many respects superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two supposed antagonists. The salient features of Wicksell's work, namely the importance of money, the role of uncertainty, coordination failures, and the element of time in capital accumulation, all motivated the Keynesian and Hayekian theories of economic fluctuations. They also contributed to a fundamental convergence between the two economists during the 1930s. This shared, 'Wicksellian' vision of economic problems points to a very different research agenda from that of the Walrasian-style, general equilibrium analysis that has dominated postwar macroeconomics. This book will appeal to economists interested in historical perspective of their discipline, as well as historians of economic thought. The author not only deconstructs some of the historical misconceptions of the Keynes versus Hayek debate, but also suggests how the insights uncovered can inform and instruct modern theory. While much of the analysis is technical, it does not assume previous knowledge of 1930s economic theory, and should be accessible to economists, political scientists, and historians with general economics training, as well as to graduate students in these fields.

A compelling portrayal by the veteran journalist of the lives of farming communities on either side of the U.S.-Mexico border and the surprising connections between them "Conniff brings her skills and insights to a particularly urgent project: moving beyond the polarizing politics of our current era, and taking a deeper look at how people who have been pitted against each other can forge bonds of understanding." -E.J. Dionne Jr., co-author of 100% Democracy Winner of the Studs and Ida Terkel Award In the Midwest, Mexican workers have become critically important to the survival of rural areas and small towns-and to the individual farmers who rely on their work-with undocumented immigrants, mostly from Mexico, accounting for an estimated 80 percent of employees on the dairy farms of western Wisconsin. In Milked, former editor-in-chief of The Progressive Ruth Conniff introduces us to the migrants who worked on these dairy farms, their employers, among them white voters who helped elect Donald Trump to office in 2016, and the surprising friendships that have formed between these two groups of people. These stories offer a rich and fascinating account of how two crises-the record-breaking rate of farm bankruptcies in the Upper Midwest, and the contentious politics around immigration-are changing the landscape of rural America. A unique and fascinating exploration of rural farming communities, Milked sheds light on seismic shifts in policy on both sides of the border over recent decades, connecting issues of labor, immigration, race, food, economics, and U.S.-Mexico relations and revealing how two seemingly disparate groups of people have come to rely on each other, how they are subject to the same global economic forces, and how, ultimately, the bridges of understanding that they have built can lead us toward a more constructive politics and a better world.

First published in 1973, this book presents a systematic treatment of the conceptual framework as well as the practical problems of measurement of inequality. Alternative approaches are evaluated in terms of their philosophical assumptions, economic content, and statistical requirements. In a new introduction, Amartya Sen, jointly with James Foster, critically surveys the literature that followed the publication of this book, and also evaluates the main analytical issues in the appraisal of economic inequality and poverty.

This book provides an up-to-date overview of the development of the German financial system, with a particular focus on financialization and the financial crisis, topics that have increasingly gained attention since the crisis and the discussion on the secular stagnation started. The authors of the book-economists who have conducted extensive research in this area-offer a perspective on the financial system in the context of its importance for the overall economic system. The book not only provides detailed insights into Germany's financial system; it also takes a broader perspective on finance and connects it with current macroeconomic developments in Germany.

Providing an insider's examination of China's economic reform and its political implications, this text uses wide ranging primary materials, including interviews, surveys and author's own recollections of Deng Xiaoping and Zhao Ziyang. It aims to shed new light on the Chinese approach to reform, including its dual goal, dynamic gradualism and reform leadership. It assesses the vast social and political changes set forth by the reform, especially multiplying socio political problems, and the international ramifications of China's rise.

Macroeconomics of Climate Change in a Dualistic Economy: A Regional General Equilibrium Analysis generates significant, genuinely novel insights about dual economies and sustainable economic growth. These insights are generalize-able and applicable worldwide. The authors overcome existing limitations in general equilibrium modeling. By concentrating on tensions between green growth and dualism, they consider the global efforts against climate change and opposition by specific countries based on economic development needs. Using Turkey as their primary example, they address these two most discussed and difficult issues related to policy setting, blazing a path for those seeking an applied economic research framework to study such economic considerations.

This volume of the International Symposia in Economic Theory and Econometrics explores the latest economic and financial developments in Asia. Chapters cover a range of topics such as the online market's impact on Indonesia's social welfare system, the influence of organizational culture on the triple bottom line performance of large manufacturing companies in the Philippines, and the impact of economic policy uncertainty on foreign direct investment inflows in India. These peer-reviewed papers touch on a variety of timely, interdisciplinary subjects such as sustainability and the effects of public policy. Recent Developments in Asian Economics also includes empirical studies in financial economics and public governance. For example, one chapter considers the consumption and satisfaction of Chinese rural residents, while another empirically studies the effects of sharia disclosure and sharia supervisory boards on Islamic banks' soundness. The papers in this volume have been compiled from four conferences in Asia and Australia, including the SIBR 2020 Sydney Conference on Interdisciplinary Business and Economic Research, which was held in Sydney, Australia; the 5th Indonesian Finance Association (IFA) Conference held in Manado, Indonesia in 2019; the 1st International Doctoral Colloquium on Business and Economics in Surakarta, Indonesia; and the 5th Sebelas Maret International Conference on Business, Economics and Social Sciences held in 2018 in Bali, Indonesia. Together, ISETE 28 is a crucial resource of current, cutting-edge research for any scholar of international finance and economics.

This publication contains detailed official national accounts data for over 200 countries or areas of the World for the years 2001 to 2013. It is a valuable source of information on the state and structure of economies worldwide. The data for each country or area are presented in separate chapters with uniform table headings and classifications as recommended in the System of National Accounts 1993 (1993 SNA). Each country chapter also contains a write-up on the methodology and data sources which are used to compile the national accounts. A summary of the SNA conceptual framework, classifications, and definitions is also. It also contains statistics on gross domestic product.

This book investigates the existing and possible links between the concept of a Carbon Club and the Paris Agreement. In doing so the book defines those criteria that may lead to an effective establishment of a Carbon Club acting within the mandate of the Paris Agreement and identifies the key questions that such an option may help to tackle: Which low-carbon pathways are compatible with the new temperature targets set by the Paris Agreement? Can new entities like the Carbon Club have a decisive role in guaranteeing the alignment of the aggregate mitigating actions with the global objectives identified within the Paris Agreement? What role will be played by market and non-market approaches within the proposed framework? How can economic, social, and environmental sustainability be ensured during the implementation of the Agreement? How can justice and equity be encouraged between the Parties and all the involved actors as required by the Agreement? Which instruments can be designed and adopted to provide the expected degree of transparency for the new system? To respond to these questions the book adopts a holistic approach, able to emphasize the strong interrelations. The book discusses the opportunity to develop a Carbon Club within the Article 6 framework, and provides a feasible roadmap for its means of implementation, rules and governance structure. The final result is a feasible policy proposal that takes into account all the key issues introduced by the questions, and draws a roadmap towards a 'low-carbon Bretton Woods'.

This volume presents selected articles from the 21st Eurasia Business and Economics Society (EBES) Conference, which was held in Budapest (Hungary) in 2017. The theoretical and empirical papers in this volume cover various areas of business, economics, and finance from a diverse range of regions. In particular, this volume focuses on the latest trends in consumer behavior, new questions in the development of organizational strategy, and the interaction of financial economics with industrial economics and policy.

This proceedings volume presents current research and innovative solutions into capital markets, particularly in Poland. Featuring contributions presented at the 10th Capital Market Effective Investments (CMEI 2018) conference held in Miedzyzdroje, Poland, this book explores the future of capital markets in Poland as well as comparing it with the capital markets of other developed regions around the world. Divided into four parts, the enclosed papers provide a background into the theoretical foundations of capital market investments, explores different approaches-both classical and contemporary-to investment decision making, analyzes the behaviors of investors using experimental economics and behavioral finance, and explores practical issues related to financial market investments, including real case studies. In addition, each part of the book begins with an introductory chapter written by thematic editors that provides an outline of the subject area and a summary of the papers presented.

This volume offers a collection of studies on problem of organization's efficiency, criteria for evaluating the efficiency, tools and methods for measuring the efficiency. The articles included present an interdisciplinary look at efficiency, its essence and the principles of its measurement. The contributions also identify a broad spectrum of conditions for achieving efficiency in various types of organizations and systems (e.g. public institution, non-profit organizations), representing various industries. The book collects selected papers presented at the 7th International Conference "Efficiency as a Source of the Wealth of Nations", held in Wroclaw, Poland, in May 2017.

Industry officials and government policymakers have for some time decried the lack of a framework for establishing and defending Research and Development (R&D) policies. Effective policy requires an understanding of the underlying economics. This book offers models and analysis of the economic elements that drive technology-based growth with emphasis on their implications for policy analysis. It also compares existing U.S. policies with those used in Europe and Japan. The results of these models and analysis is a framework for matching various forms of underinvestment with efficient strategic and policy responses. This market-failure based approach enables industry and government R&D initiatives to be developed, analyzed, and implemented with greater success than previously attained.

The first part of the book analyzes economic trends to show how they are affected by technological change and the evolving nature of foreign competition. R&D spending patterns are studied to identify and characterize market failures that prevent adequate private-sector investments in technology. A model is presented for a typical technology-based industry. The second part looks at specific technologies and policies that impact R&D investment and that have been the subject of intense policy debate.

The issue of government or state involvement in the process of economic development and reform has become very popular in the economic development literature. This timely volume examines China's post-Mao economic reforms, and the Chinese government's involvement in the process of managing those reforms. Focusing on management issues, the book considers the state led reforms from a comprehensive and interdisciplinary perspective. The work consists of two parts--the experience of China's post-Mao reforms and major issues associated with the reforms. The first part covers the background, stages and measures, and achievements and problems of economic reforms. The second part addresses major changes in China's regional development, administrative system, and state-society relations. A final chapter considers the lessons of China's economic reforms.

This book offers a look at equity markets and what they have experienced since the 1997 Order Handling Rules were instituted. Specifically, it examines the tremendous technology innovation, intensified competition between an expanding set of alternative trading venues, and continuing regulatory changes that have occurred. Who have been the key initiators? How has market quality evolved over this period in response? What further structural and regulatory changes are still needed? These are among the key questions addressed in the volume, titled after the Baruch College Financial Markets Conference entitled Rapidly Changing Securities Markets: Who are the Initiators? The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.

This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.

This book refutes prevailing theories that attribute post-1950 state per capita income convergence to (1) neo-classical adjustment mechanisms, (2) institutional sclerosis, and (3) southern industrialization. Wheat and Crown argue that southern income was low because of slavery's legacy--sharecropping, agricultural dependence, low urbanization, poor education, high Black population percentages, and low wage rates. The legacy's dominant feature was the sharecropper-tenant farmer system, which replaced slavery. Sharecropping was the foundation of southern poverty. Sharecropping's collapse, beginning around 1950, affected all of the other features of slavery's legacy. For example, millions of sharecroppers out-migrated from the South, shifting poverty to the North and lowering the South's Black percentage. This out-migration, white in-migration, and the civil rights movement jointly raised educational attainment in the South, further boosting southern income. Southern industrialization had only a marginally significant effect. In 1950's high income region, the West, the transport cost element in the price of manufactured goods shrank because of (1) transportation improvements and (2) rapid manufacturing growth, which reduced the need for long distance imports from the Manufacturing Belt. The resulting decline in the West's relative cost of living led to wage adjustments. Consequently, the West--despite having the highest manufacturing growth rates--had the nation's lowest per-capita income growth rates. Agricultural decline and educational gains stimulated income growth in the Plains. Nationally, per-capita employment gains were a strong influence.

This influential volume, which has been revised and updated for the twenty-first century, includes both new material and more detailed expositions of existing arguments. Although so-called 'real' theories of business cycles and growth are prevalent in contemporary mainstream economics, Controversies in Monetary Economics suggests that those economists who have instinctively focused on monetary factors in explaining macroeconomic behaviour are more genuinely 'realistic'. The author combines an explanation of past and present monetary controversy with practical proposals for the conduct of monetary policy in the contemporary global economy. Several alternative approaches are discussed, ranging from the traditional quantity theory to post Keynesian theories of endogenous money. This insightful book will be of interest to all those concerned with monetary economics and macroeconomics, including academic researchers, graduate and senior undergraduate students - particularly those looking for an alternative to current economic orthodoxy - and historians of economic thought. Practitioners in central banks, international financial institutions, the financial markets and finance ministries will also find this work invaluable.

Kula contends that conventional time-dependent theories in welfare economics are based on the unwarranted assumption that people live forever, an assumption that underpins the criteria for many decision-making activities and one that leads public sector policy makers to discriminate against future generations. It is seen in its most extreme in decision making on such long-term projects as nuclear power facilities, whose effects will be visited upon many future generations. How did this assumption gain currency and influence? Kula says, this oddity has been imposed by mathematical economists who now dominate the scene. Kula aggressively challenges these theories, which he alleges are untrue and unjust, provides an alternative method for discounting, and shows how its application can yield dramatically positive results. His book is thus a unique, important contribution to the theory and practice of decision making in public endeavors, intended not only for academics but equally for their practitioner colleagues in all parts of the world.

Kula corrects the conventional theory by assuming societal models in which individuals are mortal and generations overlap. From this emerges a new discounting theory which leads to outcomes that are dramatically different from the old ones. The new criterion is called modified discounting, and can be readily applied to real-life projects. In Part I, Kula lays out his theory and constructs the new decision-making method, in which public policy makers accept the proposition that all generations ought to be treated equitably. Then, in Part II, he provides five case studies to illustrate his theory, each devoted to major public activities such as nuclear waste disposal, forestry, agriculture, and urban transport, and based on experiences in the United States, the United Kingdom, and Ireland.