Long before the financial meltdown and the red alert on climate change, some far-sighted innovators diagnosed the fatal flaws in an economic system driven by greed and fear. Across the global North and South, diverse people - financial wizards, economists, business people and social activists - have been challenging the "free market" orthodoxy. They seek to recover the virtues of bazaars from the tyranny of a market model that emerged about two centuries ago. This widely praised book is a chronicle of their achievements. From Wall Street icon George Soros and VISA card designer Dee Hock we get an insider critique of the malaise. Creators of community currencies and others, like the father of microfinance, Bangladesh's Muhammad Yunus, explore how money can work differently. The doctrine of self-interest is re-examined by looking more closely at Adam Smith through the eyes of Amartya Sen. Mahatma Gandhi's concept of 'Trusteeship' gathers strength as the socially responsible investing phenomenon challenges the power of capital. Pioneers of the open source and free software movement thrive on cooperation to drive innovation. The Dalai Lama and Ela Bhatt demonstrate that it is possible to compete compassionately and to nurture a more mindful market culture. This sweeping narrative takes you from the ancient Greek agora, Indian choupal, and Native American gift culture, on to present-day Wall Street to illuminate ideas, subversive and prudent, about how the market can serve society rather than being its master. In a world exhausted by dogma, Bazaars, Conversations and Freedom is an open quest for possible futures. This fully updated and revised UK version of the 2009 Vodafone Crossword Book Award winner for non-fiction is a rare and epic narrative about those who have been quietly forging solutions and demonstrating that a more compassionate market culture is both possible and desirable.

This book showcases recent advances in the theoretical and empirical understanding of the economic aspects of organised crime and illegal markets. It provides new insights into defining and quantifying the influence of organised crime by drawing on innovative approaches to studying criminal networks and organisations such as the Hells Angels. The book includes analysis of the structure of illegal drug markets from international leaders in the field. Finally the text includes empirical case studies of the diverse markets where organised crime is currently active including the illegal market for crystal methamphetamine in Australia, tiger products in China and the falcon and fur trades in Russia. This book was based on a special issue of Global Crime.

Over 20 years ago Philip Sadler, then head of a leading British business school, wrote Managerial Leadership in the Post-Industrial Society. In it he predicted that business would experience the most radical transformation since the Industrial Revolution of the 19th century. This transformation has now taken place. In his latest book, Sustainable Growth in a Post-Scarcity World, Sadler charts developments once envisaged by Keynes, Chase, Galbraith and Packard, and more recent radical thinkers such as Chris Anderson. Sadler describes how many goods and services have moved from relative scarcity to relative abundance, and asks how this trend can be reconciled with the global issues of population growth and climate change. He assesses the impact of new technologies, new energy sources, new materials and the development of artificial intelligence, on business, government and economics, and discusses the challenges ahead - the creation of new business models, the need to meet people's legitimate expectations of improved living conditions while avoiding environmental catastrophe, and the need to adapt ideas developed in scarcity to conditions of abundance. Why is it that in countries foremost in creating post-scarcity conditions, millions are still in poverty, and billions, worldwide, still lack basic necessities of life? Philip Sadler agrees with those who say the relief of global poverty cannot rely on aid and corporate philanthropy. He explores the idea of re-engineering products and delivering them into bottom-of-the-pyramid (BOP) markets, and concludes that the more global companies take this route, as some are already doing, the more profitable they will find it, and this will in turn help the poorest people who currently pay more for goods and services - the 'poverty penalty' - than the rich.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Offering an engaging overview of the concepts of bounded rationality and their applications, this stimulating Advanced Introduction engages with the topic in a constructively critical manner to introduce new ideas. Chapters cover key topics including: optimally imperfect decisions; ecological rationality; the role of bounded rationality in evolutionary economics; satisficing as a response to bounded rationality; desirable types of economic decisions; the relational exercise of foresight; and the impact of bounded rationality on the efficiency of organizations. Key Features: Demonstrates the progress made in the field over the last century Presents a unique, succinct and useful coverage of the core issues in the topic Outlines different concepts of rationality and specifies factors that result in limited rationality Postgraduate and advanced undergraduate economics and business management students will find this a stimulating read. The easy-to-follow exposition of the topic and careful use of diagrams will also make this an interesting book for decision makers, business managers and policy makers who have studied economics or business administration.

Covering the period 1550 - 1939, this book examines the history and development of theories of international pricing and trade. The work of the following economists is covered: Locke, Barbon, Vaderlint, Harris, Hume, Smith, Ricardo, Malthus, Bosanquet, Mill, Torrens, Marshall, Haberler, Austin, Stirling, Chevalier, Carines, Jevons, Leslie, Goschen, Bagehot, Wicksell, Sidgwick, Pigou, Viner, Heckscher, Ohlin, Keynes, Taussig, and Pareto. The volume includes an extensive Bibliography of each period discussed as well as comprehensive indices of subjects and names.

The first part of the book is devoted to an historical survey of what has been written regarding Britain's policy problems since 1946: problems such as full employment, the sources and methods of controlling inflation and the measures to promote economic growth. At an international level, issues such as economic relations with Europe and the question of devaluation are considered.
The subsequent part of the book considers how far economists' recommendations regarding policies have been derived from well-tested theories, or how far they have been based on speculation, guesswork or judgement.

Including contributions from noted international scholars, this collection of papers provides a strong theoretical and empirical underpinning for the discussion of major public policy issues facing Turkey today. Matters addressed include: determinants of growth and productivity education and human capital accumulation income inequality corporate control and government performance of the government sector impact of major public policy issues on the future growth prospects of the Turkish economy. This volume relates the impact of major public policy issues on the future growth prospects of the Turkish economy. At a time when Turkey is currently attempting to gain membership to the European Union, this pertinent reference questions whether the country's economy is in fact ready for EU accession and membership.

Marketing orientation is both the key objective of most food producers and their biggest challenge. Connecting food and agricultural production with the changing needs and aspirations of the customer provides the means to ensure competitive advantage, resilience and added value in what you produce. But market orientation is not something that you can just buy in or bolt on to what you do. Market orientation is a matter of changing the culture of your organisation; finding ways of learning more about your customers and understanding their needs; changing your development and reward systems to educate your employees; it may also involve significant changes to your production processes. This comprehensive collection of original research explores the challenges and opportunities associated with market orientation along the food supply chain; from the animal feed industry to meat retailing and from organic foods to old world wines. All the chapters provide exceptional insight into understanding how market orientation can benefit food suppliers and how it is essential for long-term success.

This important survey, first published in 1981, presents some different and often contending perceptions of the problem of surplus capacity as it re-emerged in the world of the 1980s -- an economic climate with many parallels to the current era. Susan Strange and Roger Tooze deliberately assembled writers of many different nationalities, professional backgrounds and ideological convictions and asked them to make the case for their version of the problem. Some even doubt if there really is much of a problem at all. Others see it as fundamentally political, or monetary; as inherent in the capitalist system, or as the product of short-sighted pressure groups and perverse politicians. To help readers judge for themselves, there are specialist contributions on surplus capacity as it has shown up in different sectors of the world economy -- shipbuilding, textiles, steel, Petrochemicals, insurance and banking -- and on the responses of different actors in the international system, including the European Community and multinational corporations

This book showcases recent advances in the theoretical and empirical understanding of the economic aspects of organised crime and illegal markets. It provides new insights into defining and quantifying the influence of organised crime by drawing on innovative approaches to studying criminal networks and organisations such as the Hells Angels. The book includes analysis of the structure of illegal drug markets from international leaders in the field. Finally the text includes empirical case studies of the diverse markets where organised crime is currently active including the illegal market for crystal methamphetamine in Australia, tiger products in China and the falcon and fur trades in Russia.

This book was based on a special issue of Global Crime.

The concept of quality measurement is revived and given new meaning in this innovative new book. Steven Payson argues that quality measurement is an important issue in the study of price indices and in the additional areas of product innovation and evolutionary change. The user-value definition of quality is forcefully defended against the producer-cost definition, and a new method of measurement is introduced - the representative good approach (RGA). The RGA provides a new means for measuring quality over long periods of time by examining historical documents. A discussion of evolutionary change lays the groundwork for the identification of two processes: quality improvement and cost reduction. Using data from the Sears Catalog, quality improvement and cost reduction rates are estimated for five goods between 1928 and 1993: shoes, sofas, gas ranges, window fans and air conditioners, and cameras. The results are dramatic, supporting ground-breaking hypotheses on the determinants of quality improvement and cost reduction.

This thoroughly accessible textbook shows students how microeconomic theory can be used and applied to major issues of public policy. In this way, it will improve their understanding of both microeconomic theory and policy and also develop their ability to critically assess them. >Clem Tisdell and Keith Hartley have expanded upon their previous successful work on microeconomics. As a result, this new book is considerably updated with substantial chapter revisions, as well as new chapters dealing with business management, ownership, environmental issues, public choice, defence, conflict and terrorism. Promoting a thorough understanding of this complex yet fundamental topic, Microeconomic Policy: A New Perspective will undoubtedly prove an invaluable textbook for all students, academics and researchers of economics and public policy.

Microeconomics is concerned with the production, consumption and distribution of goods by the micro units of individuals, firms and markets within the economy. It can also be considered a study of scarcity and the choices to be made for the attainment of goals within constraints. These goals are those set by consumers, producers and policy makers in the market.

This book provides a brand new approach to the teaching and study of microeconomics an elementary guide to the fundamental principles of the subject. It gives students from all parts of the world the opportunity to understand and appreciate the value of microeconomic tools and concepts for analyzing market processes in their economic environment, as well as maintaining a perspective on issues of trade and competitiveness, thus drawing attention to the relevance of microeconomic theory beyond the domestic scene to issues of trade and competitiveness on the international arena.

The book contains a wealth of international case studies and covers topics such as:

- elasticity

- Cobb-Douglas Production functions

- dynamic stability of market equilibrium

- monopolies and monopolistic competition

- project analysis

The perfect introduction to the building blocks of contemporary microeconomic theory, this book will be of interest to undergraduate students in international economics, industrial economics, managerial economics and agricultural economics. It will also be a useful reference guide for graduates requiring a break down of difficult microeconomic principles.

A central concern of economics is how society allocates its resources. Modern economies rely on two institutions to allocate: markets and governments. But how much of the allocating should be performed by markets and how much by governments? This collection of readings will help students appreciate the power of the market. It supplements theoretical explanations of how markets work with concrete examples, addresses questions about whether markets actually work well and offers evidence that supposed "market failures" are not as serious as claimed.

Featuring readings from Hayek, William Baumol, Harold Demsetz, Daniel Fischel and Edward Lazear, Benjamin Klein and Keith B. Leffler, Stanley J. Liebowitz and Stephen E. Margolis, and John R. Lott, Jr., this book covers key topics such as:

Why markets are efficient allocators

How markets foster economic growth

Property rights

How markets choose standards

Asymmetric Information

Whether firms abuse their power

Non-excludable goods

Monopolies

The selections should be comprehended by undergraduate students who have had an introductory course in economics. This reader can also be used as a supplement for courses in intermediate microeconomics, industrial organization, business and government, law and economics, and public policy.

Nobel Prize-winning economist James Mirrlees is one of the world's leading figures in welfare, development, and public sector economics. This volume brings together for the first time published and unpublished but seminal work in these key areas, and will be a very useful source for anyone looking for a comprehensive picture of Mirrlees' contribution to the subject.

This easy-to-understand and fully illustrated handbook teaches essential economic concepts so you can confidently apply economic reasoning in daily situations and discussions. Economics may seem inaccessible and complicated, but in reality, we live in an economy all the time and use economic principles every day. Economic insight and knowledge can easily and quickly solve a curiosity or problem, avoid a minor catastrophe, or even help provide support for your own economic hunch or theory. With Everyday Economics Made Easy, economics comes down from the ivory tower and into the real world. You'll review the most important basic economic concepts, history, debates, areas, and ways of thinking about economic issues-all while helping you apply these ideas in your everyday life. This book will introduce you to: The tools and theoretical approaches economists use The rich history of economic thought and its continued relevance today The contributions of notable economists The areas of microeconomic and macroeconomic analysis Complete with colorful graphics, intriguing sidebars, and easy-to-follow examples, Everyday Economics Made Easy is a calm and patient tutor to help you appreciate the how and why of economic thinking and analysis, its importance, and its application to common economic dilemmas. Build your skills as an economist with confidence in no time at all! Get a quick review of everything you forgot you knew with the Everyday Learning series from Wellfleet Press. Need a refresher course in topics like grammar and philosophy? Then let these handy reference books be your sidekicks on your journey to higher learning. You'll learn about timeless global topics, as well as the thought leaders responsible for some of the greatest contributions in the worlds of science, art, and more. Packed with useful information, these portable books are perfect for commuters who want to jump-start their day with useful and fun facts. With the Everyday Learning series, you'll be an expert in any field in no time. Other titles in this series include: Everyday Economics Made Easy, Everyday Grammar Made Easy, Everyday Mathematics Made Easy, Everyday Philosophy Made Easy, and Everyday Spanish Made Easy.

The International Institute for Applied Systems Analysis (IIASA) has had risk as a research topic on its agenda right from its inception in 1972. Risk has played a - jor role in the Energy Program, with research being carried out both in-house and in cooperationwith other internationalinstitutions like the InternationalAtomic - ergy Agency (IAEA) and national research centers. Research areas were primarily the evaluationof all possible risks within one categoryof energysupply like nuclear ?ssion or fusion or fossil fuels and, even more important, the comparisonof risks of different energy-supplystrategies. Later on an independent program was started which still exists today under the name Risk and Vulnerability. There is a large amount of literature on risks to which IIASA's research programs have contributed signi?cantly over the years, and there is, of course, an abundance of published work on international negotiations, part of which is a result of the work of the Processes of International Negotiation (PIN) Program. There are, however, so far no studies on the combination of these two strands. Therefore, and as research on both topics is housed at IIASA, we are happy that our PIN Program has undertaken the dif?cult and important task of analyzing what the editors of this book have called negotiated risks.

This edited volume includes a broad sample of scholarly publications of Professor Edwin J. Perkins on U.S. financial history and related topics in the fields of economic and business history. Included are journal articles, excerpts from his prominent books, plus three previously unpublished manuscripts. The content is organized chronologically, starting with the colonial era and ending with the second half of the twentieth century. A major highlight of the book is the key role stockbroker, Charles Merrill, founder of Merrill Lynch & Co., played in the evolution and expansion of the nation's equity markets in the twentieth century.

Many policies in several Western European countries and the U.S. aim to counter spatial concentrations of deprivation and create more socio-economically mixed residential areas. Such policies are founded on the belief that neighbourhoods have a strong and independent effect upon the well-being and life-chances of individuals. The adequacy of the evidence base to support this position has been the subject of spirited debate on both sides of the Atlantic. The primary purpose of this book is to contribute to this policy-relevant discussion by presenting new scholarship from many countries that rigorously quantifies various sorts of neighbourhood effects through the use of cutting-edge social scientific techniques.

The secondary purpose of this book is to introduce these techniques to a wider array of housing and planning researchers and to show how a variety of disciplines have offered insightful, synergistic perspectives. Research on neighbourhood effects has over the last 15 years led to a body of knowledge extending far beyond the sociological urban research where it originated. The problem of quantifying neighbourhood effects and the use of associated methodologies (like multi-level analysis, instrumental variables) has attracted scholars from criminology, sociology, social geography, economics and health science, and thus serves as a critical locus for interdisciplinary scholarship.

This book was previously published as a special issue of Housing Studies.

House prices and mortgage debt have moved to centre stage in the management of national economies, regional development and neighbourhood change. Describing, analysing and understanding how housing markets work within and across these scales of economy and society has never been more urgent. But much more is known about the macro-scales than the microstructures; and about the economic rather than social drivers of housing market dynamics. This book redresses the balance. It shows that housing markets are social, cultural and psychological - as well as economic - affairs. This multidisciplinary approach is helpful in understanding the economic staples of supply, demand, price and information. It also casts new light on the emotional and political economy of markets.

Wide coverage of different perspectives of banking, the book presents classical microeconomic thoeries of banking, but also covers central banking, financial frictions and banking-macro linkages, banking regulation in theory and practice etc., giving students a rounded picture of the world of banking, and also allowing instructors to design and create their own courses with different emphases A self-contained textbook making "linear" progress through chapters. Banking is all about imperfect market, market failure and frictions, therefore, market friction is the key to making progress throughout the book. Necessary elements from contract theory, game theory, dynamic macroeconomics and mathematical techniques will be provided through boxes and appendices, making the textbook self-contained An up-to-date textbook that presents both state-of-the-art research and the evolving reality, an evidence-based textbook that connects theory and practice.

This book analyzes the following four distinct, although not dissimilar, areas of social choice theory and welfare economics: nonstrategic choice, Harsanyi's aggregation theorems, distributional ethics and strategic choice. While for aggregation of individual ranking of social states, whether the persons behave strategically or non-strategically, the decision making takes place under complete certainty; in the Harsanyi framework uncertainty has a significant role in the decision making process. Another ingenious characteristic of the book is the discussion of ethical approaches to evaluation of inequality arising from unequal distributions of achievements in the different dimensions of human well-being. Given its wide coverage, combined with newly added materials, end-chapter problems and bibliographical notes, the book will be helpful material for students and researchers interested in this frontline area research. Its lucid exposition, along with non-technical and graphical illustration of the concepts, use of numerical examples, makes the book a useful text.

From Google's chief economist, Varian's best-selling intermediate microeconomics texts are revered as some of the best in the field. And now students can work problems online with Smartwork5, Norton's online homework system, packaged at no additional charge with the Media Update Editions. In addition to online homework, the texts now include four-colour graphs and new interactive animations.

This book paints a portrait of social life in America by providing an accessible discussion of empirical economics research on issues such as illegal immigration, health care and climate change. All the studies in this book use the same data source: individual responses to the American Community Survey (ACS), the nation's largest household survey. The author identifies studies that clearly illustrate core econometric methods (such as regression control and difference-in-differences), replicates key statistics from the studies, and helps the reader to carefully interpret the statistics. This book has a companion website with replication files in R and Stata format. The Appendix to this book contains a guide to using the free R software, downloading the ACS and other public-use microdata, and running the replication files, which assumes no background knowledge on the part of the reader beyond introductory statistics. By opening up the hood on how top scholars use core econometric methods to analyze large data sets, a motivated reader with a decent computer and Internet connection can use this book to learn not only how to replicate published research, but also to extend the analysis to create new knowledge about important social phenomena. A more casual reader can skip the online supplements and still gain data-driven insights into social and economic behavior. The book concludes by describing how careful empirical estimates can guide decision making, through cost-benefit analysis, to find public policies that lead to greater happiness while accounting for environmental, public health and other impacts. With its accessible discussion, glossary, detailed learning goals, end of chapter review questions and companion resources, this book is ideal for use as a supplementary volume in introductory econometrics or research methods courses.

"The Microeconomics of Complex Economies "uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset.

Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories.
Describes the usefulness of complex heterodox economicsEmphasizes divergences and convergences with neoclassical economic theories and perspectivesFits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters