Taxes on the wealthy are a topic sure to incite venomous rants from both right-wing and left-wing ideologues. The topic attracts conflicting interpretations and policy recommendations, and generates proposals for tax reform that consume political debate. All this activity takes place against an opaque backdrop of empirical evidence dealing with the distribution of wealth and income, and tax avoidance and tax evasion by corporations and wealthy individuals. Rethinking Wealth and Taxes explores these problems and considers the possibilities for increasing taxes on wealth to address the increasingly unequal distribution of wealth, and income. Concerned with exploring the implications of globalization for government revenue policy and increasing inequality in wealth and income, it identifies the connection between ongoing inequality and the ability of the wealthy to avoid income taxes by exploiting differential treatment of capital income and wage income. The author explores the various ways in which the emergence of globalization has impacted the traditional national model of raising income tax revenue. He then offers policy recommendations that shift government revenue sources to taxes that are difficult for the wealthy to avoid and that better capture the goals of vertical and horizontal tax equity. This book will appeal to those directly involved in industry and public policy and may be used in university courses at all levels in public finance, financial economics, actuarial science and management. It will also be of interest to research libraries, individuals working in government and readers in the general public curious about topics such as 'the one percent'.

This Modern Guide explores central ideas, concepts, and themes in the Austrian school of economics, with a focus on how both the school and the overall theory have evolved over recent decades. Leading scholars offer their insights into potential directions of future research in the field, pointing towards contemporary debates and their potential conclusions, underdeveloped aspects and extensions of theory, and current applications of interest. Spanning theories of entrepreneurship to the theory of the business cycle, from methodology to sociology, and from cryptocurrencies to culture, this clear and concise Modern Guide provides an expert curation of the topic. Chapters offer an overview of the present state of scholarship in the field, including discussions on praxeology, the function of entrepreneurship in the market process, spontaneous orders, the Austrian theory of money, and banking. Written in an accessible style, this will be an invigorating read for economics scholars looking for an alternative to mainstream approaches. It will also be useful for scholars and practitioners seeking an introduction to Austrian economics.

Nowhere in the world presents a more dramatic case of wealth creation than East Asia. Contrary to the common belief that social policy in the economic powerhouses of the region is secondary to their pursuit of economic growth, Gyu-Jin Hwang argues that it has in fact played an integral part in building strong states and competitive market economies. Building Markets examines the original four Newly Industrialised Economies (NIEs) of East Asia: Hong Kong, Korea, Singapore, and Taiwan, as well as Japan, the regional forerunner in both economic and social terms. Chapters undertake a comparative analysis of the various social policy measures and redistributive efforts taken across a diverse range of social policy sectors in the region, covering cash transfers, healthcare, education, housing, and family policy. Addressing the mounting pressure on East Asian economies to rethink their growth strategies, Hwang concludes with a call for social means to be diverted, adapted, and converted to serve new social ends. Integrating cutting-edge theoretical insights with detailed policy analysis, Building Markets will be an invaluable tool for academics and postgraduate students interested in social policy, economics, and development in East Asia.

A Modern Guide to State Intervention investigates the impact of the changing role of the state, offering an alternative political economy for the third decade of the twenty-first century. Building on important factors including history, the role of institutions, society and economic structures, this Modern Guide considers economic and administrative interventions towards changing the destabilised status quo of modern societies. Exploring a variety of theoretical approaches, chapters offer sustainable growth-inducing policies and proposals to address important challenges in this era of neoliberal globalization and financialization. With key contributions by distinguished academics in the field, the book evaluates past efforts and policies and critiques failed perspectives. A critical read for political economics scholars wishing to look beyond orthodox perspectives, this book highlights key areas of contention in modern economic policies. This will also be a vital book for policy-makers and economists looking ahead to a more sustainable economic atmosphere.

This cutting-edge Handbook puts economic nationalism in its historical context, from early industrialization to globalization. It explores how economic nationalism has emerged to new prominence in the post-globalization era as states are trying to protect their economies, societies, and cultures from unwanted external influences. Drawing together contributors from a wide range of disciplines, the Handbook demonstrates the many ways in which nationalisms and national cultures affect and are affected by the economy, paying attention to the different contexts in which they emerge. Chapters consider key topics including economic nationalism and climate change, resource nationalism, economic nationalism in left-wing ideologies and far-right party discourse, and dimensions of economic nationalism in the US, Russia, India and Japan. Providing a comprehensive analysis of the historical, theoretical, and geographical dimensions of economic nationalism, this Handbook will be a key resource for scholars and students of political economy, international economics and the history of economic thought. Its use of case studies from a range of countries will also be beneficial for policy makers and practitioners in these fields.

This timely book sets out a shrewd and comprehensive policy programme, for both 'microeconomic' supply-side settings of tax and regulatory systems, and 'macroeconomic' policies for fiscal and monetary policies to regulate demand and support the supply-side growth agenda. Explaining the numerous benefits of free trade after Britain's exit from the EU, and challenging the anti-Brexit argument, Patrick Minford builds on his extensive research into economic modelling to quantify the effects of Brexit and propose policies for the aftermath. Laying out an agenda for replacing social interventionist EU regulation with a robust free market framework, Minford proposes a radical tax reform programme to broaden the tax base and flatten marginal rates. This incisive book looks to the future of the UK beyond Brexit, addressing the effects of coronavirus and proposing an avenue of policies for recovery. Featuring key empirical analysis and insightful arguments, this book will be crucial reading for economists and policymakers investigating and overseeing the future of UK economic policy. It will also benefit scholars of economics and political economy, particularly those interested in tax reform programmes.

Contains analyses that are designed to highlight specified subject areas or provide other significant presentations of budget data that place the budget in perspective. This volume includes economic and accounting analyses; information on federal receipts and collections; analyses of federal spending; information on federal borrowing and debt; baseline or current service estimates; and other technical presentations.

Innovation and entrepreneurship rank highly on the strategic agenda of most countries today. As global economic competition intensifies, many national policymakers now recognize the central importance of entrepreneurship education and the building of financial institutions to promote long-term innovation, entrepreneurship, and economic growth. Drivers of Innovation brings together scholars from the United States and Asia to explore those education and finance policies that might be conducive to accelerating innovation and developing a more entrepreneurial workforce in East Asia. Some of the questions covered include: How do universities in China and Singapore experiment with new types of learning in their quest to promote innovation and entrepreneurship? Is there a need to transform the traditional university into an “entrepreneurial university”? What are the recent developments in and outstanding challenges to financing innovation in China and Japan? What is the government’s role in promoting innovative entrepreneurship under the shadow of big business in South Korea? What can we learn about the capacity of services to drive innovation-led growth in India? Drivers of Innovation will serve as a valuable reference for scholars and policymakers working to develop human capital for innovation in Asia.

Since Garrett Hardin published 'The Tragedy of the Commons' in 1968, critics have argued that population growth and capitalism contribute to overuse of natural resources and degradation of the global environment. They propose coercive, state-centric solutions. This book offers an alternative view. Employing insights from new institutional economics, the authors argue that property rights, competitive markets, polycentric political institutions, and social institutions such as trust, patience and individualism enable society to conserve natural resources and mitigate harms to the global environment. The authors support their argument by considering several types of commons: forests, fisheries, minerals, and the global environment. The central lesson of these empirical studies is that following a simple set of rules - definition and enforcement of property rights in response to local conditions, creating and maintaining democracy at the local level, and establishing markets to allocate resources - improves ecological and environmental sustainability. This book will appeal to scholars of natural resources, economics, political science and public policy as well as policymakers who are interested in environmental governance and the ways markets contribute to sustainability.

Why our democracies need urgent reform, before it's too late A generation after the fall of the Berlin Wall, the world is once again on the edge of chaos. Demonstrations have broken out from Belgium to Brazil led by angry citizens demanding a greater say in their political and economic future, better education, heathcare and living standards. The bottom line of this outrage is the same; people are demanding their governments do more to improve their lives faster, something which policymakers are unable to deliver under conditions of anaemic growth. Rising income inequality and a stagnant economy are threats to both the developed and the developing world, and leaders can no longer afford to ignore this gathering storm. In Edge of Chaos, Dambisa Moyo sets out the new political and economic challenges facing the world, and the specific, radical solutions needed to resolve these issues and reignite global growth. Dambisa enumerates the four headwinds of demographics, inequality, commodity scarcity and technological innovation that are driving social and economic unrest, and argues for a fundamental retooling of democratic capitalism to address current problems and deliver better outcomes in the future. In the twenty-first century, a crisis in one country can quickly become our own, and fragile economies produce a fragile international community. Edge of Chaos is a warning for advanced and emerging nations alike: we must reverse the dramatic erosion in growth, or face the consequences of a fragmented and unstable global future.

While a positive correlation between capitalism and democracy has existed in Western Europe and North America, the example of late-industrializing nations such as Turkey has demonstrated that the two need not always go hand in hand, and sometimes the interests of business coincide more firmly with anti-democratic forces. This book explores the factors that compelled capitalists in Turkey to adopt a more pro-democratic ideology by examining a leading Turkish business lobby (TUESIAD) which has been pushing for democratic reform since the 1990s, despite representing some of the largest corporation owners in Turkey and having supported the state's authoritarian tendencies in the past such as the military coup of 1980. Drawing on roughly 70 interviews with influential members of TUESIAD and individuals close to them, the book reveals that business leaders were willing to break away from the state due to the conflict between their evolving economic needs and power with a political elite and state that were unwilling to cater to their demands. In so doing, the book provides a rich account of business-state relations in Turkey as well as providing a case study for the wider study of democracy and capitalism in developing nations.

'This book is a remarkable and often inspirational tour de force. Martin Jones confidently moves between theories of political economy and stories of regional and urban policy, using each to inform the other. He brings the uneven geographies of England to life, showing how they are reproduced in practice, while also offering the prospect of alternative futures.' - Allan Cochrane, The Open University, UK Offering a geographical political economy analysis, this book explores the mechanisms, institutions, and spaces of subnational economic development. Martin Jones innovatively examines how policy-makers frame problems and offer intervention solutions in different cities and regions. Drawing on different approaches to state intervention, neoliberalism, crisis and contradiction theories, and notions of depoliticisation, this book explains policy failure and how it is impacted by flux surrounding economic development. With constant changes to legislation, institutional initiatives, and ministerial responsibility, local and regional economic development is shown to be at a critical crossroads. Theoretically innovative and empirically focused, this timely book is a must-read for researchers and policy-makers of urban geography, regional development, political economy and public policy.

This timely book explores the long-standing process of infrastructural integration across Europe, with a particular focus on the EU member states. It illuminates the main economic infrastructure sectors, including transport, energy and information, examining how the process of infrastructural integration reflects an alignment of the needs of the countries that are the main drivers behind this process. Colin Turner highlights how these inter-governmental driven processes are supported by a series of policy measures undertaken at the supranational level by the EU, largely through the trans-European network initiative. Multidisciplinary chapters offer a thorough examination of trends in regional integration, and an in-depth analysis of core infrastructure sectors. The book further looks at the co-operative territoriality that is needed for the integration process, and that is driven by an alignment between states' territorial and geo-political strategies. Offering a contextualised analysis within the framework of state strategy, this will be an invigorating read for political economy and public policy scholars, particularly those focussing on the EU. It will also be helpful to public policy practitioners and sector specific consultants looking for up-to-date insights on the topic.

Malcolm Torry explores Citizen's Basic Income - an unconditional income for every individual - moving the reader from a basic understanding of the concept to an in-depth recognition of its wide-ranging implications. Torry examines debates around the desirability, feasibility and implementation of a Citizen's Basic Income, and how this idea is becoming increasingly widespread. This Modern Guide presents a comprehensive treatment of Citizen's Basic Income, first offering insight into the language surrounding it, and moving through a number of key disciplinary perspectives, including sociology, politics, economics and law. Each chapter discusses an academic discipline, looking at relevant aspects of the debate to understand how the discipline enhances knowledge of Citizen's Basic Income, and how discussion around the topic can contribute to the academic discipline. Containing detailed case studies in each chapter, this book will be helpful to a wide variety of scholars and students wanting a broader knowledge of Citizen's Basic Income. It will also be useful to policymakers who wish to engage in the debate on the potential benefits and drawbacks of a Citizen's Basic Income.

This timely book explores the neglected risk in the advent of the Covid-19 pandemic, illustrating the ways in which four decades of neoliberal economic and public policy has eroded the functional capacity of states to handle catastrophic events. Challenging the very heart of modern nation-states, Imad Moosa comprehensively demonstrates how the pandemic has shed light on existing structural problems that have been ignored by neoliberal governments and policy-makers. The author highlights the implications of the pandemic for democracy, militarism and international relations, as well as its impact on healthcare, inequality, human rights, poverty and homelessness. Drawing on theoretical insights and empirical evidence, Moosa emphasises the importance of sustained government intervention in economic activity at a time in which the free market doctrine has failed to restore equilibrium and deliver prosperity after an international financial shock. A radical and decisive intervention in contemporary economic thought, this book is crucial reading for scholars and researchers in economics and political science, particularly those focusing on the fallout of the Covid-19 pandemic and global economic recovery. The book's empirical insights and key policy recommendations will also benefit policy-makers in public health and economics.

In this thought-provoking book, Jose M. Magone investigates the growing political, economic and social divisions between the core countries of the European Union and the southern European periphery. He examines the major hindrances that are preventing the four main southern European countries (Italy, Spain, Portugal and Greece) from keeping up with the increasing pace of European integration, and the effects that this is having on democratic governance. Offering a comprehensive comparative overview of southern European politics over the past two decades, the book analyses the impact of the EU's political economy on democracy in the region, in particular the consequences of the Eurocrisis and the economic instability of the 2010s. It argues that these countries have failed to proactively initiate necessary strategic reforms in order to prevent economic and democratic stagnation, and have especially struggled to cope with the changing realities of Europeanization and the demands of Economic and Monetary Union. Students and scholars of European politics will find this book useful and insightful, in particular those interested in southern Europe's political economy and Europeanization. It will also be beneficial for policy makers working in southern European governments and organizations.

For the last decade, progressive scholars determined to understand the 2008 financial crisis have examined the growth of US subprime mortgage debt in the period leading up to the collapse and how government policy supported this accumulation. However, the long history of the subprime crisis, its connection to the patterns of financial risk designated by the postwar international monetary system, has been all too often overlooked. Subsequently, the literature has considered the financial crisis as somehow disconnected from the specific evolution of the Bretton Woods financial system and the perceived safety of US Treasury bonds. With this, an important opportunity has been lost to develop critical political economy literature on financial markets. This book explores the long history of the subprime crisis through an original theoretic lens that sheds light on the institutional basis of global debt markets and the role of US Treasury debt in the international financial system. This book will introduce new ideas and appeal to university students and faculty interested in learning more about US financial power and the origins of the subprime crisis.

The second edition of The Political Economy of Iraq is as comprehensive and accessible as the first with updated data and analysis. Frank R. Gunter discusses in detail how the convergence of the ISIS insurgency, collapse in oil prices, and massive youth unemployment produced a serious political crisis in 2020. This work ends with a discussion of key policy decisions that will determine Iraq's future. This volume will be a valuable resource for anyone with a professional, business, or academic interest in the post-2003 political economy of Iraq.

Experiences of the struggle for housing, ignited by the lack of social and affordable housing, have led to the establishing of shared and self-managed housing areas. In such a context, it becomes crucially important to re-think the need to define common urban worlds "from below". Here, Penny Travlou and Stavros Stavridis trace contemporary practices of urban commoning through which people re-define housing economies. Connecting to a rich literature on the importance of commons and of practices of commoning for the creation of emancipated societies, the authors discuss whether housing struggles and co-habitation experiences may contribute in crucial ways to the development of a commoning culture. The authors explore a variety of urban contexts through global case studies from across the Global North and South, in search of concrete examples that illustrate the potentialities of urban commoning.

Exploring how changes in advanced technology deeply affect international politics, this book theoretically engages with the overriding relevance of investments in technological research, and the ways in which they directly foster a country's economic and military standing. Scholars and practitioners present important insights on the technical and social issues at the core of technology competition. Technology and International Relations emphasizes the importance of leadership styles, domestic political agendas and the relative weight of technologically driven countries in global affairs. It highlights the now widely shared belief among both developed and developing countries that technology will be the defining factor in international politics. The book also unpacks the complexity of real-life cases of key technological advances, including artificial intelligence, UAVs, satellites and the responses of governments and the private sector to rising technological challenges. This will be an important read for scholars of political science, international relations and international political economy, particularly those looking at the impact of technology and innovation.

Providing a coherent and multidisciplinary approach to digitalization, this Modern Guide aims to systematize how the digitalization process affects infrastructure-based industries, including telecommunications, transport, energy, water and postal services. This important book reviews the literature on how digital technologies can impact infrastructure design, construction and maintenance costs, with specific references for each industry. Contributors analyse how digitalization is disrupting traditional infrastructure managers in terms of capacity management and traffic flows as well as discussing key topics including data governance, data sharing, digital platforms and sector convergence. With special attention devoted to regulatory and governance challenges, this will be welcomed by researchers of network industries and digitalization. This will also be of special interest to academics and scholars interested in the digitalization process, data governance and infrastructure management.

This timely and provocative book challenges the conventional wisdom that neoliberal capitalism is incompatible with social justice. Employing public choice and market process theory, Nick Cowen systematically compares and contrasts capitalism with socialist alternatives, illustrating how proponents of social justice have decisive reasons to opt for a capitalism guided by neoliberal ideas. Cowen shows how general rules of property and voluntary exchange facilitate widespread cooperation. Revisiting the works of John Rawls, he offers an interdisciplinary reconciliation of Rawlsian principles with liberal democracy by introducing 'robust property-owning democracy', a new form of governance that aims to achieve social justice via practical, liberal means. Chapters address the knowledge problem and the incentive problem that emerge when aiming for a fair distribution of social resources and demonstrate how everyday political bargaining can help achieve just outcomes for all. Utilising insights from philosophy, politics and economics to show the role of market institutions and constitutional government in producing social justice, this book is crucial reading for academics, researchers and students of PPE and the political sciences. Its practical policy proposals will further benefit policymakers interested in mechanisms that spread the benefits of economic growth equitably.

'Monetary policy is not just a matter of optimal stabilization policy; it is also fundamentally a matter of politics. But while this observation is commonplace, it is not adequately incorporated into economists' reasoning and analysis. Gerald Epstein's work represents perhaps the most prominent exception to this last rule. Reading him provides a salutary reminder that we need to pay closer attention to this political aspect when thinking about central banks and what they do.' - Barry Eichengreen, University of California, Berkeley, US Central banks are among the most powerful government economic institutions in the world. This volume explores the economic and political contours of the struggle for influence over the policies of central banks such as the Federal Reserve, and the implications of this struggle for economic performance and the distribution of wealth and power in society. Written over several decades by Gerald Epstein and co-authors, these works explore why central banks do what they do, and how they could better operate. Epstein shows that central banks are a contested terrain over which major economic and political groups fight for control; and demonstrates that though in the US and most other countries, private bankers have the upper-hand in this political struggle, they don t always win. Graduate students, faculty and advanced undergraduates in economics, political science and sociology who are interested in central banking and finance as well as specialists who focus on central banking will find greater understanding of central banks through The Political Economy of Central Banking.