In this significant new book, Bruna Ingrao and Claudio Sardoni emphasize the crucial importance of considering credit/debt relations and financial markets for a comprehensive understanding of the world in which we live. The book offers both a thorough historical and theoretical reconstruction of how 20th century macroeconomics got (or did not get) to grips with the interactions between banks and financial markets, and the 'real' economy. The book is split into two distinct and thematic parts to expose the different attitudes to banks and finance before and after the Great Depression of the 1930s. Part I explores the period from the turn of the 20th century to the late 1930s, when many important economists devoted great attention to banks and credit relations in their explanations of the working of market economies. Part II discusses the post-war period up until the modern day, when banks and financial markets ceased to be a major concern of mainstream macroeconomics. The 2007-8 crisis gave rise to a renewed interest in credit relations, but many problems inherited from the past still remain open. The authors stress, in particular, the implications of the uneasy, if not impossible, coexistence of the endeavour to set macroeconomics within the framework of general equilibrium theory with the attempt to develop the analysis of the monetary and financial features of actual economies. Macroeconomists will greatly benefit from this timely book as it examines the historical evolution of the discipline, pointing out the major factors that have largely prevented the development of satisfactory analyses of the interrelations of credit, finance and the macroeconomy. Those involved in current economic policy debates will also benefit from the lessons offered in this book.

Public Finance is a part of multi-disciplinary scientific field focusing on challenging issues that are significantly important for the common good of humanity. Since the appearance of the states, public goods, public services, and public policies have been developed for the wealth and goodness of people all over the world. Although the privatization process has gained significant speed since the era of Neoliberalism, the state power collaborating with international monitoring institutions to struggle against challenging issues is needed now more than ever. Therefore, public economics should be focused on the new challenging issues such as pandemics, global warming and climate changes. This book evaluates the economic and social impacts of new challenging issues in public economics. The new challenging issues in public economics, such as global warming and the global pandemic, have directly affected the world economy in terms of the economic units, institutions and social life. Therefore, this book is appropriate for social science scholars, government officials, policy makers and, businessmen of international companies that focused on environmental policies, and more.

Rethinking Corporate Governance's extensive and insightful empirical investigation offers a radically new approach to corporate governance. This ground-breaking volume describes and analyzes the key nature-based and actor-based forces that ultimately determine corporate governance processes and long-term corporate paths. Generally, such forces work in complex and intricate interplays that to a large extent vary among corporations. A theory of shareholder governance is developed and integrated into the established - and more comprehensive - theory of corporate governance to create a revised theory of the corporation (firm). The new possibilities that this creates for explaining how processes develop and ultimately influence corporate paths are presented in-depth. Featuring conclusions based on an empirical material that is both rich and exclusive, the book also contains extensive non-anonymized materials from authentic corporate governance processes. A general conclusion is that actions taken by individuals have a special status among those forces, as they not only generate impact in themselves, but also involve interpretations of the possible effects of all the other forces.Among those actions, the ones taken by the shareholders stand out as particularly decisive both for the governance processes as such and for how corporations develop over time. Offering a degree of openness, detail and realism that is hard to find in any other case-based study this innovative and enlightening volume is essential for both academics and practitioners involved in corporate governance, corporate strategy and the theory of the firm.

Working capital refers to the money that a company uses to finance its daily operations. Proper management of working capital is critical to financial health and operational success. Working capital management (WCM) aims to maximize operational efficiency by maintaining a delicate balance among growth, profitability, and liquidity. WCM is a continuous responsibility focusing on a firm's day-to-day operations involving short-term assets and liabilities. By efficiently managing a firm's cash, accounts receivable, inventories, and accounts payable, managers can help maintain smooth operations and improve a company's earnings and profitability. By contrast, poor WCM could lead to a lower credit score, financial insolvency, legal troubles, liquidation of assets, and potential bankruptcy.This book provides an objective look into the dynamic world of WCM. Its coverage extends from discussing basic concepts and their applications to increasingly complex and real-world situations. The book stresses that WCM is a combination of both art and science. This volume spans the gamut from theoretical to practical while offering the right balance of detailed and user-friendly coverage. Readers can gain an in-depth understanding of this subject from experts in this field. Those who want a broad survey will benefit, as will readers looking for more in-depth presentations of specific areas within this field of study. In summary, Working Capital Management: Concepts and Strategies provides a fresh look at this intriguing but often complex subject of WCM.

Banks have a special position in the financial system. Their exclusive link to the central bank puts them at the top of the financial system and enables banks to offer liquidity to the wider economy. They also provide loans and payment services to firms and households. This multifaceted nature of banking makes the economics of banking exciting. This Research Review assembles the best 'banking' papers on all these dimensions and will be invaluable for banking scholars and practitioners.

Doing well with money isn't necessarily about what you know. It's about how you behave. And behavior is hard to teach, even to really smart people. Money-investing, personal finance, and business decisions-is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don't make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life's most important topics.

Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary. How can financial services, such as credit, deposit accounts, financial transfers, and insurance be provided to people in need? This challenging and complex issue has been a topic of interest for the international aid community for decades. Drawing on renowned experts in microfinance and financial inclusion, this Research Agenda sheds much-needed light on this multifaceted challenge and points the way ahead for future research. Providing a critical and multidisciplinary approach to research in microfinance and financial inclusion, the authors provide a state-of-the-art overview of current scholarly knowledge on the provision of financial services to disadvantaged populations worldwide. Reviewing the literature on the subject from the fields of economics, management science and development studies, they discuss the limitations and challenges of current research and chart avenues for future developments. With its fascinating insights, this Research Agenda will be of interest to students of finance and economics, development, and business and management, as well as researchers with a specific interest in microfinance and financial inclusion. Contributors include: J. Bastiaensen, A. Cozarenco, B. D'espallier, K.O. Djan, M. Duvendack, A. Garcia, J. Goedecke, I. Guerin, V. Hartarska, B. Hathaway, N. Hermes, F. Huybrechs, R. Lensink, R. Mersland, J. Morduch, S. Morvant, D. Nadolnyak, T. Ogden, J.-M. Servet, T.W. Sommeno, A. Szafarz, G. Van Hecken, B. Venet, L. Weill, T. Wry, S. Zamore

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The First Book from n+1--an Essential Chronicle of Our Financial Crisis

HFM: Where are you going to buy protection on the U.S. government's credit? I mean, if the U.S. defaults, what bank is going to be able to make good on that contract? Who are you going to buy that contract from, the Martians?

n+1: When does this begin to feel like less of a cyclical thing, like the weather, and more of a permanent, end-of-the-world kind of thing?

HFM: When you see me selling apples out on the street, that's when you should go stock up on guns and ammunition.