At the outset of his second term, President Bush's proposal to partially privatize Social Security has touched off a debate of enormous proportion. Disentangling the rhetoric and hyperbole from fact is essential for anyone trying to evaluate the potential merits or pitfalls of the plan. Leonard and Mark Santow-a father-and-son team who integrate two different political viewpoints (fiscally conservative and socially liberal, respectively)-offer specific recommendations for improving Social Security, Medicare, and Medicaid in socially responsible ways that relieve some of the stress on the middle class and promote upward mobility. Explaining sophisticated economic concepts in layman's terms, the Santows expose myths about how entitlement programs actually work, arguing, for example, that while the financial state of Social Security gets most of the press, Medicare and Medicaid are in much more serious trouble. They integrate conservative and liberal viewponts to propose a package of reforms that includes both tax cuts and increases and an overhaul of the government's economic forecasting system. Synthesizing mountains of data and explaining sophisticated economic concepts in layman's terms, the Santows expose myths about how entitlement programs actually work, arguing, for example, that while the financial state of Social Security gets most of the press, Medicare and Medicaid are in much more serious trouble. Moreover, they are highly critical of privatization plans, demonstrating that similar programs have failed in other countries and that such plans are programs are neither fiscally nor socially sound. If the American people value the common commitments that these programs embody, we will need to see them as a package, and fund them accordingly. In response to this challenge, the Santows integrate conservative and liberal viewpoints to propose a package of reforms that includes both tax cuts and increases and an overhaul of the government's economic forecasting system. Featuring a timeline of key events since Franklin Roosevelt signed the Social Security Act in 1935 and an appendix of data tables, the authors offer a primer for concerned citizens, policymakers, educators, students, and finance professionals-anyone with a stake in designing a system that pays for these essential programs in an equitable manner and contributes to our collective prosperity. Featuring a timeline of key events since Franklin Roosevelt signed the Social Security Act in 1935 and an appendix of data tables, the authors offer a primer for concerned citizens, policymakers, educators, students, and finance professionals-anyone with a stake in designing a system that pays for these essential programs in an equitable manner and contributes to our collective prosperity.

This book discusses the ethical dilemmas of migration in the era of globalization. Centered on the recent influx of large numbers of migrants and refugees to the United States and Europe and viewed through the lens of the 2016 World Humanitarian Summit and the United Nations Summit on Refugees and Migrants, this book focuses on the problems posed by globalized migration and analyzes proposed responses. Using prominent ethical theories and moral principles, such as Utilitarianism, duty, justice, and integrity, the book proposes a framework for analyzing decision-making by migrants and policymakers and formulating equitable policies to address the migration crisis. Drawing attention to the ethical dilemmas that migrants and policymakers experience, this book fills a gap in the literature and enriches it, adding to the economic, political, and human rights issues that are traditionally part of the migration discussion. Appropriate for students and scholars of ethics, policy, and political science, this book is also meant to be of use to practitioners and decision-makers faced with similar decisions.

The inclusion and factoring of political risk into accounting and non-accounting decisions is crucial if multinational firms are to avoid negative consequences ranging from unprofitable business environments to the outright expropriation of their assets. In a work that will be of particular value to professionals and academics in international and domestic finance, accounting, and management, the authors examine the characteristics of environments that give rise to political risk, explore the relationship between low economic growth and high political risk, and differentiate between definitions and forecasting models of political risk. They also provide a unique forecasting model to explain and predict risk, and they suggest alternative strategies for managing political risk.

National development banks (NDBs) have transformed from outdated relics of national industrial policy to central pillars of the European Union's economic project. This trend, which accelerated after the Financial Crisis of 2007, has led to a proliferation of NDBs with an expanded size and scope. However, it is surprising that the EU - which has championed market-oriented governance and strict competition policy - has actually advocated for an expansion of NDBs. This book therefore asks, Why has the EU supported an increased role for NDBs, and how can we understand the dynamics between NDBs and European incentives and constraints? To answer these questions, the contributing authors analyze the formation and evolution of a field of development banking within the EU, identifying a new field around an innovative conceptualization of state-backed financing for the purposes of policy implementation. Yet rather than focusing solely on national development banks, the authors instead broaden the focus to the entire ecosystem of the field of development banking, which includes political institutions (both in Brussels and in the member states), financing vehicles (such as the Juncker Plan), regulatory bodies (Directorate-General for Competition, Directorate-General for Economic and Financial Affairs), and commercial actors. Seven in-depth case studies on European NDBs, along with three chapters on European-level actors, detail this field of development banking, and answer the questions of when, where, and how development banking occurs within the EU.

This book presents new insights into the consequences of the impending growth in and impact of the older segment of Latino aging adults across distinctive regions of the Americas. It uses a comparative research framework to further understanding of current issues in health and aging in the transnational context of the health and migratory experiences of the U.S.- Mexican population. It provides an important contribution to the interdisciplinary investigation of chronic diseases and functional impairments, social care and medical services, care-giving and intervention development, and neighborhood factors supporting optimal aging, using new conceptual and methodological approaches (inter-group comparisons). Specifically, the chapters employ different methodologies that investigate trends in aging health and services related to immigration processes, family and household structure, macroeconomic changes in the quality of community life, and focus on the new realities of aging in Latino families in local communities. The book focuses on measurement, data-quality issues, new conceptual modeling techniques, and longitudinal survey capabilities, and suggests needed areas of new research. As such it is of interest to researchers and policy makers in a wide range of disciplines from social and behavioral sciences to economics, gerontology, geriatrics, and public health.

SUNDAY TIMES BUSINESS BOOK OF THE YEAR

an ECONOMIST Politics and Current Affairs book of the year

and a DAILY MAIL and TIMES book of the year

'You cannot understand power, wealth and poverty without knowing about Moneyland.' Simon Kuper, New Statesman

2019: democracy is eating itself, inequality is skyrocketing, the system is breaking apart. Why?

Because in 1962, some bankers in London had an idea that changed the world. That idea was called 'offshore'. It meant that, for the first time, thieves could dream big. They could take everything.

Join investigative journalist Oliver Bullough on a journey into the hidden world of the new global kleptocrats.

See the poor countries where public money is stolen and the rich ones where it is laundered and invested. Watch the crooks at work and at play, and meet their respectable, white-collar enablers. Learn how the new system works and begin to see how we can tackle it.

The collapse of the Soviet Union and the Soviet bloc had a profound effect on Turkey economically and politically. On the one hand, the collapse further marginalized Turkey's position in Western Europe, as some of the newly liberated Central and Eastern European countries raced ahead of Turkey to join the European Union. On the other hand, the collapse presented Turkey with new opportunities and challenges stemming from geographic proximity and cultural/historical ties with countries that emerged from the Soviet bloc and from the former Soviet Union. In articles focusing on the 1990s and beyond, this book explores how the economic and political fortunes of Turkey have changed since the end of the Cold War. Two main sections of the book examine Turkey's relations with the European Union and with the former Soviet Union and Soviet bloc countries. Each section opens with a chapter providing an overview of Turkey's political relationship with the respective region, followed by chapters that examine facets of the politico-economic relationships. Located in a potentially volatile portion of the world, Turkey plays an important role in maintaining peace and prosperity in its region. The analysis in this volume allows an understanding of the critical factors that influence the political economy of Turkey, and therefore, its ability to contribute to world peace and stability.

This book sheds new light on the relationship between economy and the environment by approaching the issue from evolutionary and institutional economics. Building a framework of theory and empirical analysis, it provides an in-depth perspective on how economic growth and environmental policy interact and historically evolve. Orthodox environmental economics usually understands environmental issues under the rules of market economy, while environmental sciences subordinate economy to physical constraints of the environment. Instead of these hierarchical visions, this book recognizes economy and the environment as co-evolving systems. The theoretical framework is elaborated based on the regulation and post-Keynesian theories combined. An idea of three-dimensional factors-capital, labor, and the environment-leads to conceptual and mathematical models, which will be applicable to wider analyses. Using this framework, Japanese history is analyzed as a typical example of environmental policy development. Historical transformations of environmental policies and growth regimes are explained using indices and econometric analysis. Experiences of strict regulations with positive economic impacts are also identified. These works lead to some interesting implications, which include mechanisms, the possibility, and conditions of "green growth''. This book proposes a new approach by bridging the gap between evolutionary-institutional economics and environmental economics, which should be stimulating to them both and possibly open the door for a new research avenue.

The Carolina, Mariana and Marshall Islands have experienced world war, atomic weapons testing and varying brands of colonialism in the 20th century. Following the seizure of the islands from Japan, agencies of the US government sought to better possess and control the area through a series of developmental initiatives. Interdisciplinary in its approach, this text goes beyond the liberal discourse surrounding modernity to examine what economic development actually entailed. It explores in ethnographic terms how different groups of island people responded to development programmes in multiple, complex, layered and sometimes conflicting ways that reflected their own historical experiences and cultural understandings.

This book presents the theory and practical applications of the Master equation approach, which provides a powerful general framework for model building in a variety of disciplines. The aim of the book is to not only highlight different mathematical solution methods, but also reveal their potential by means of practical examples. Part I of the book, which can be used as a toolbox, introduces selected statistical fundamentals and solution methods for the Master equation. In Part II and Part III, the Master equation approach is applied to important applications in the natural and social sciences. The case studies presented mainly hail from the social sciences, including urban and regional dynamics, population dynamics, dynamic decision theory, opinion formation and traffic dynamics; however, some applications from physics and chemistry are treated as well, underlining the interdisciplinary modelling potential of the Master equation approach. Drawing upon the author's extensive teaching and research experience and consulting work, the book offers a valuable guide for researchers, graduate students and professionals alike.

More than three billion people, nearly half of humankind, live on less than two-and-a-half U.S. dollars per person per day. Studies have shown repeatedly that the main and often the sole asset of the poor is their labor. It follows that to understand global poverty one must understand labor markets and labor earnings in the developing world. Excellent books exist on ending world poverty that discuss in depth many important aspects of economic development but do not focus on employment and self-employment, work and non-work. Working Hard, Working Poor fills in where the other books leave off. Issues of analyzing poverty and low earnings in the developing world are quite different from those in the developed world. The discourse in the developed world is about incentive effects of social welfare programs, cultures of poverty, single-parenthood, homelessness, drug and alcohol abuse, ill health, mental illness, domestic violence, and the like. But in the developing world, different issues predominate, such as own-account work and household enterprises, agricultural work, casual employment, and informal work. And some of the policy issues-stimulating economic growth, harnessing the energies of the private sector, increasing paid employment, and raising the returns to self-employment-take a different twist. This book shows how people in poverty work, what has been effective in helping the poor earn their way out of poverty, and how readers might help.

Phillips assesses prospects for post-national social coherence transcending the traditional nation-state, with a focus on events in Germany. European institutional integration has been seen as a stabilizing alternative to the nation-state system, a system that resulted in two devastating world wars. However, economic interests appear to have been more effective instruments of transnational integration in Europe. Further, until 1989, part of this alternative vision was a divided Germany.

He explicitly links a focus upon the Federal Republic, central to post-Cold War Europe's future, with a study of private business, perhaps the most indispensable agent of Germany's post-1945 rehabilitation. Business support has been imperative to European integration. Nonetheless, if the European Union is attractive to members or potential members only for economic reasons, then no matter how wealthy its constituent parts may be, potential harmful effects of interstate competition will continue to pose a threat to social coherence of the EU, the Continent, and the world beyond. With the aid of analysis of companies largely perceived as being German, but which are increasingly transnational, Phillips shows how interdependent business needs may overcome nationalist and institutional conceptions in the transnational integration processes. For scholars, researchers, and policy makers involved with European integration, international relations, and German Studies.

This book focuses on urbanization as an attendant consequence of industrialization and sheds light on urban problems such as housing shortages and poverty of jobless people, and the housing and social policies implemented by central and local governments to deal with these problems. Through this book, the volume editor and authors convey the view that urbanization transformed economy and society spatially and in quality, and caused the change of central and local administration in the process of tackling various urban problems. The book features recent academic works on economic history of the city and housing, researched from an advanced perspective of comparative history in Japan. The aim of this book is to make works by Japanese scholars accessible to a wider readership throughout the world. This edited volume includes four articles (chapters) and four book reviews originally published in Japanese and subsequently translated into English. The first chapter analyzes the characteristics of the urbanization that occurred under the land readjustment projects implemented from the Sino-Japanese War to the reforms following World War II, by focusing on the conflict between landowners and peasants in Japan. The second chapter examines the construction of urban housing following Japan's defeat in World War II, focusing on the reconstruction of war-damaged housing from the perspective of the creation and distribution of private residential space under Japan's postwar regulatory regime. The third chapter examines the adoption of communal unemployment insurance systems in Wilhelmine Germany, focusing on the Genter system, in which the municipalities paid subsidies to the trade unions that provided their out-of-work members with unemployment benefits. The last chapter investigates the accumulation of the mechanical engineering industry in Paris region during the period 1939-1958, focusing on the role of the subcontracting system.

Globalization, the return to a multi-party system of government, and the policies advocated by the IMF and the World Bank have led to near revolutionary labor relations in Ghana. As Panford shows, these new social and economic forces have unleashed new and even contradictory labor policies and practices which are having profound social, political, and economic consequences. Panford examines how the Ghana Constitution of 1992 led for the first time to new workers' rights, including the right to affiliate with any local, national, or international union. In response to globalization and policies advocated by the IMF and the World Bank, the Ghana government sought to resist worker demands for improved working and living conditions. The situation was worsened by the privatization of state-owned businesses and severe cuts in public employment. In this environment of tense labor relations, government hostility, and weak employment, Panford traces the ways workers are revitalizing unions and developing new sources of jobs and finances. These include relatively aggressive systematic organization of women, senior staff, and the informal/agricultural sector. One of the most important initiatives of the unions is the creation of a workers' trust to establish and finance worker-owned enterprises. The evidence presented by Panford indicates the failure of IMF and World Bank policies, and he calls for new and viable policy alternatives with emphasis on enhancing Ghana's global competitiveness and meeting genuine development needs. A thoughtful analysis that will be of interest to scholars and researchers involved with development and international economics, labor relations in the developing worldand the increased involvement of international financial institutions.

China's economic development plans and programs for the next century are designed to place her among the world leaders as an economic powerhouse. In order to compete, businesses from around the world must understand the direction in which China is moving. In this way they can better work within Chinese policy to access the Chinese market and production potential. Business people need to develop a pragmatic approach to the Chinese political system, acknowledging that it is likely to remain in place, and leaving its evaluation to the political scientists.

Business leaders and policymakers on the state through multinational levels will benefit from this thorough review and analysis of the Chinese policy aimed at economic development. Scholars and students will find much interesting material concerning the world in which we will be doing business in the next century.

Given the political, financial, social, and economic conditions inherited from Communist rule, Romania's new government concluded that a shock therapy approach to reform would create unmanageable chaos and enduring instability. Though committed to economic liberalization, decisionmakers espoused a gradualist approach to economic reform. The government pursued its objectives by implementing policies it considered functionally operational. Although Romania experienced the macro dislocations and downturns that are common in transitional economies in the region, the country sustained shallower recessions, lower inflationary spirals, and shorter production losses than many reforming economies. This study analyzes how, against calculated probabilities and within a relatively short time period, Romania has stabilized and assembled all the basic ingredients for a successful transformation from a centralized system to a market-driven economy.

The lessons derivable from Romania's relatively successful experiment with systemic transformation could be beneficial to reform architects in all newly liberalized economies in Eastern Europe. The conclusions of this study reinforce the view that it is imperative to examine and foster the existing preconditions, including political, institutional, and financial components, before subjecting an economy to extensive and intensive shocks that could be judiciously mitigated or circumvented. Unlike other newly liberalized economies in Eastern Europe, where the once disgraced Communists have returned to power, sympathy for a centralized system has been steadily and swiftly declining in Romania. The primary factor in Romania's success, the author claims, is its circumspect approach to reform.

As the economic crash of 2007-8 and its sequels developed, neoliberal economists often said that economic theory can never cope with such eruptions, and left-minded economists and political economists struggled to find answers. This book documents discussions as they developed; an introduction and an afterword tell the story of the crisis, and offer syntheses and angles on some of the debated issues. What were the chief imbalances in the world economy? Is US hegemony breaking down? Were falling profit rates at the root of the crash, and if so why were they falling? How does "financialisation" reshape capitalism? Why did neoliberalism prove so resilient? How might the repercussions lead to it being subverted from the right or from the left? Contributors are Robert Brenner, Dick Bryan, Trevor Evans, Barry Finger, Daniela Gabor, Andrew Gamble, Michel Husson, Andrew Kliman, Costas Lapavitsas, Simon Mohun, Fred Moseley, Leo Panitch, Hugo Radice, and Alfredo Saad-Filho.

With Africa as its point of reference and departure, this volume examines why and how the two concepts - radicalisms and conservatisms - should not be taken as mere binaries around which to organize knowledge. It demonstrates that these concepts have multiple and diverse meanings as perceived and understood from different disciplinary vantage points, hence, the deliberate pluralization of the terms. The essays show what happens when one juxtaposes the two concepts and how they are easily intertwined when different peoples' lived experiences of poverty, political and social alienation, education, intolerance, youth activism, social (in)justice, violence, etc. across the length and breadth of Africa are brought to bear on our understandings of these two particularisms. Contributors are: Adekunle Victor Owoyomi, Adeshina Francis Akindutire, Adewale O. Owoseni, Bright Nkrumah, Clement Chipenda, Ebenezer Babajide Ishola, Edwin Etieyibo, Israel Oberedjemurho Ugoma, Jonah Uyieh, Jonathan O. Chimakonam, Madina Tlostanova, Maduka Enyimba, Muchaparara Musemwa, Odirin Omiegbe, Obvious Katsaura, Olufunke Olufunsho Adegoke, Peter Kwaja, Philip Akporduado Edema, Tafadzwa Chevo, and Temitope Owolabi.