The first international history of the emergence of economic sanctions during the interwar period and the legacy of this development   A Foreign Affairs Best Book of 2022   “Valuable . . . offers many lessons for Western policy makers today.�—Paul Kennedy, Wall Street Journal   “The lessons are sobering.�—The Economist   Economic sanctions dominate the landscape of world politics today. First developed in the early twentieth century as a way of exploiting the flows of globalization to defend liberal internationalism, their appeal is that they function as an alternative to war. This view, however, ignores the dark paradox at their core: designed to prevent war, economic sanctions are modeled on devastating techniques of warfare.   Tracing the use of economic sanctions from the blockades of World War I to the policing of colonial empires and the interwar confrontation with fascism, Nicholas Mulder uses extensive archival research in a political, economic, legal, and military history that reveals how a coercive wartime tool was adopted as an instrument of peacekeeping by the League of Nations. This timely study casts an overdue light on why sanctions are widely considered a form of war, and why their unintended consequences are so tremendous.

Great Britain is one of the wealthiest, most successful nations in the world. Why, then, do so many people feel short-changed? The old assumption that `if you work hard and play by the rules, you can get on in life' looks increasingly like a cruel joke. Homeownership, secure employment and fair wages seem like relics of a bygone era. Meanwhile exploitative workplace practices have created a new serfdom, leaving many people trapped in unfulfilling, underpaid work. At a time of huge political upheaval and ever-increasing inequality, this powerful new book asks: how can we build a successful economy, powered by a happy and productive workforce that benefits everyone in the twenty-first century?

The documents in this volume reflect the great debates that have shaped this country's economic life. Covering a wide variety of problems, they show how each was treated at a moment when it was politically urgent. Since they were efforts at persuasion, usually addressed to a wide audience, they are coherent and self-contained and avoid technical jargon. They therefore present clear and vivid evidence of what men have desired and hoped to achieve, and explain not only much that is critical about how Americans lived in the past but much also about the inheritance of the present.

From the overwhelming mass of available documents, a representative group has been chosen here. Among the twenty-nine included are: Hamilton's "Report on Manufactures," which helped set the American attitude on economic growth; Andrew Jackson's veto message on the bill to renew the charter of the Bank of the United States; the first annual report of the Interstate Commerce Commission, which put the railroads under federal regulation; William Jennings Bryan's famous Cross of Gold speech, which helped him win the Democratic nomination in 1896; the conclusions of the Pujo Committee's report on the money market, which were instrumental in setting up the Federal Reserve System; and key documents on the National Recovery Administration, one of Franklin D. Roosevelt's major moves in his fight against the depression.

In his introductory essay, the editor summarizes the forces and movements that helped to make American economic policy "exceedingly confused and therefore very annoying to historians and economists," But, he insists, this very confusion reduced "the extremism and disorder potentially so great in the United States . . . to remarkable moderation."

"William Letwin" is professor emeritus at the London School of Economics. He has published many articles and reviews in learned and popular journals. He took his undergraduate work at the University of Chicago and did graduate work there and at the London School of Economics. After receiving the degree of Doctor of Philosophy from the Committee on Social Thought of the University of Chicago, he stayed on at the university as Research Associate in the Law School and Postdoctoral Fellow in the Department of Economics.

A myth-dispelling, comprehensive guide to the Chinese economy and its path to ascendancy.

China's economy has been booming for decades now. A formidable and emerging power on the world stage, the China that most Americans picture is only a rough sketch, based on American news coverage, policy, and ways of understanding.

Enter Keyu Jin: a world-renowned economist who was born in China, educated in the U.S., and is now a tenured professor at the London School of Economics. A person fluent in both Eastern and Western cultures, and a voice of the new generation of Chinese who represent a radical break from the past, Jin is uniquely poised to explain how China became the most successful economic story of our time, as it has shifted from primarily state-owned enterprise to an economy that is thriving in entrepreneurship, and participation in the global economy.

China’s economic realm is colorful and lively, filled with paradoxes and conundrums, and Jin believes that by understanding the Chinese model, the people, the culture and history in its true perspective, one can reconcile what may appear to be contradictions to the Western eye.

What follows is an illuminating account of a burgeoning world power, its past, and its potential future.

This innovative work combines a rigorous academic analysis of the political economy of organ supply for transplantation with autobiographical narratives that illuminate the complex experience of being an organ recipient. Organs for transplantations come from two sources: living or post-mortem organ donations. These sources set different routes of movement from one body to another. Postmortem organ donations are mainly sourced and allocated by state agencies, while living organ donations are the result of informal relations between donor and recipient. Each route traverses different social institutions, determines discrete interaction between donor and recipient, and is charged with moral meanings that can be competing and contrasting. The political economy of organs for transplants is the gamut of these routes and their interconnections, and this book suggests how such a political economy looks like: what are its features and contours, its negotiation of the roles of the state, market and the family in procuring organs for transplantations, and its ultimate moral justifications. Drawing on Boas' personal experiences of waiting, searching and obtaining organs, each autobiographical section of the book sheds light on a different aspect of the discussed political economy of organs - post-mortem donations, parental donation, and organ market - and illustrates the experience of living with the fear of rejection and the intimidation of chronic shortage. A Political Economy of Organ Transplantation is of interest to students and academics with an interest in bioethics, sociology of health and illness, medical anthropology, and science and technology studies.

This book is part of the Human Centered Book Trilogy, the 2021 volumes of the Routledge Human Centered Management HCM Series. HCM books are pioneering transformation from the traditional humans-as-a-resource approach of the industrial past, to the humans at the center management and organizational paradigm of the 21st century. HCM is built on talent and wellbeing of people in the workplace driving work engagement, quality standards, high performance and productivity for long-term organizational sustainability in the global VUCA (volatile, uncertain, complex, ambiguous) environment. This book was carefully crafted by recognized international human centered scholars from four continents. Although all organizations seek to have an optimal culture, unstoppable disruptions in the VUCA environment easily derail even the best efforts. Conventional assumptions of culture as a unifying organizational force are hardly defendable today. HCM maintains that culture is not only about cohesiveness and consensus but effective management of conflict and disagreements continuously testing the capacity of people to work together. This book is about organizational transformation positioning people at the center. Complementary chapters integrate as antidotes to overcome disruptions in the VUCA environment and the effects of the COVID-19 pandemic affecting people and organizations worldwide. This and its two complementary titles Soft Skills for Human Centered Management and Global Sustainability and Sensible Leadership: Human Centered, Insightful and Prudent are timely readings for leaders, managers, researchers, academics, practitioners, students and the general public responsible for organizations across industries and sectors worldwide pursuing quality standards and organizational transformation to attain sustainability.

When and why did the United States policy of containment of Iran come about? How did it evolve? Where is it going? Much has been said about the US policy of dual containment, particularly as it pertains to Iraq. However, there has been little in-depth analysis of this policy when it comes to Iran. Sasan Fayazmanesh explores this often neglected subject by analyzing the history of this policy. The analysis includes the role that the Carter and Reagan Administrations played in the Iran-Iraq war, the numerous sanctions imposed on Iran by the Clinton Administration and the aggressive and confrontational policy toward Iran adopted by the George W. Bush Administration after the events of September 11, 2001. This topical read synthesises a range of primary sources, including firsthand reports, newspaper articles and electronic media, and presents a coherent analysis of the ebbs and flows in the US thinking on Iran and Iraq.

This book is the first systematic study of how the interdependence of fiscal and monetary policies and the interaction of party governments and central banks affect the fiscal-policy mix in eighteen industrial democracies in North America, Western Europe, Japan and Oceania. Sakamoto argues that central banks influence on economic policy is far more extensive than has been conventionally believed. He demonstrates that central banks systematically affect fiscal policy that is conducted by party governments, and that independent central banks restrain the latter 's fiscal policy.

Sakamoto also demonstrates that the economic policy of industrial democracies did really change from the 1960s-1970s to the 1980s-1990s and became conservative as a result of the globalization of the economy and governments response to it. But he argues that despite the neo-liberal policy shift, globalization has not diminished the role of domestic politics in economic policy.

The relentless pursuit of economic growth is the defining characteristic of contemporary societies. Yet it benefits few and demands monstrous social and ecological sacrifice. Is there a viable alternative? How can we halt the endless quest to grow global production and consumption and instead secure socio-ecological conditions that support lives worth living for all? In this compelling book, leading experts Giorgos Kallis, Susan Paulson, Giacomo D'Alisa and Federico Demaria make the case for degrowth - living well with less, by living differently, prioritizing wellbeing, equity and sustainability. Drawing on emerging initiatives and enduring traditions around the world, they advance a radical degrowth vision and outline policies to shape work and care, income and investment that avoid exploitative and unsustainable practices. Degrowth, they argue, can be achieved through transformative strategies that allow societies to slow down by design, not disaster. Essential reading for all concerned citizens, policy-makers, and students, this book will be an important contribution to one of the thorniest and most pressing debates of our era.

Harshly exploited migrant labour plays a fundamental role in the political economy of contemporary capitalism. The abstract and utopian theorising of many liberals and leftists on the migration question often ignores or downplays patterns of displacement and brutal class dynamics, which divide and weaken working people while empowering the ruling class. In this important new book, Hannah Cross provides a sober analysis of the class antagonisms of migration in the context of the nation, social democracy, and the racialized ordering of the world. Bringing Marxist methodology and strategy to a careful analysis of existing emancipatory movements, she sets out the programmes and approaches that are needed to promote global worker solidarity and create a future in which cheap labour is no longer a mainstay of wealthy economies. This focus on the labouring classes allows her to identify some important new directions for migration in a world beyond capitalism, exploitation and injustice. This book will be essential reading for students, scholars and general readers interested in the politics and political economy of migration in a world unhelpfully caught between racist authoritarian capitalism and the wishful-thinking of contemporary left-liberalism.

This volume is a welcome addition to an ever growing body of work in economic education. The chapters herein are sure to appeal equally to new and seasoned instructors. The often overlooked process of setting expectations is motivated through a fresh look at syllabus construction. A wide range of content areas are covered throughout the volume, with dedicated chapters on the Coase Theorem and tax evasion. Research chapters enhance our understanding of the acquisition of economic knowledge (through clicker use), the stock of economic and financial knowledge (and correlated factors), and how real and perceived economic and financial literacy influence opinions (related to the financial crisis). The depth and breadth of coverage on such important topics make this a must have volume.' - KimMarie McGoldrick, University of Richmond, US'This volume includes chapters extending and updating innovative teaching methods for undergraduate economics courses, as well as chapters with empirical research. Economic educators and general economists who are interested in teaching will therefore find something of interest and importance here.' - Michael Watts, Purdue University, US This innovative book offers targeted strategies for effectively and efficiently teaching economics at both undergraduate and postgraduate levels. It provides professors and other teachers of economics various techniques to engage and retain the interest of students, and challenges them to apply both knowledge and methodological tools to a range of economic problems. Each chapter in this volume addresses a specific topic in the teaching of economics, with the overall goal of deepening students' understanding of economic reasoning and providing the tools required to apply that knowledge and insight to real-world problems. The contributors discuss a broad range of techniques and strategies, from syllabus creation to effective classroom demonstrations to the use of literature and film in illustrating economic principles, all of which provide fascinating insights and ideas for improving the overall quality of economics education. Teachers of economics at all levels particularly university and college professors - will find this book invaluable in their efforts to improve their teaching strategies and methods and provide high-quality economics education to future generations of scholars. Contributors: C.J. Asarta, Y. Bauman, S.A Beaulier, C. Blackwell, W.D. Bosshardt, R.B. Butters, A. Carden, R.J. Cebula, E. Chamlee-Wright, M. Foley, W. Geerling, T.G. Green, P.W. Grimes, J.C. Hall, M.R. Hammock, D. Hazlett, G.D. Mateer, F.G. Mixon Jr., A. Perumal, J.M. Potter, K.C. Rebeck, K.E. Rogers, P.J. Ruder, J.L. Scott, S.E. Skwire, L.J. Trevino, M.A. Vachris, W.B. Walstad, Z.X. Zygmont

The idea that the people have a right to shape political decisions through democratic means is widely accepted. The same cannot be said of the decisions that impact on our everyday economic life in the workplace and beyond. Andrew Cumbers shows why this is wrong, and why, in the context of the rising tide of populism and the perceived crisis of liberal democracy, economic democracy's time has come. Four decades of market deregulation, financialisation, economic crisis and austerity has meant a loss of economic control and security for the majority of the world's population. The solution must involve allowing people to 'take back control' of their economic lives. Cumbers goes beyond older traditions of economic democracy to develop an ambitious new framework that includes a traditional concern with workplace rights and collective bargaining, but shifts the focus to include consideration of individual economic rights and processes of public engagement and deliberation beyond the workplace. This topical and original book will be essential reading for anyone interested in radical solutions for our economic and political crises.

Making sense of economists and their world in a persuasive and entertaining style, Arjo Klamer, the author of a number of influential books including Conversation with Economists and The Consequences of Economic Rhetoric, shows that economics is as much about how people interact as it is about the models, the mathematics, the econometrics, the theories and the ideas that come from the enormous aggregate of economics literature. Knowing and understanding economics requires both bookwork and mingling with other economists.

Viewing the subject as a collection of conversations, Klamer examines fundamental disagreements over the nature and purpose of the discipline, addressing how it is that a discipline that so permeates daily life is at once 'soft' and scientific, powerful and ignored, noble and disdained and in a reader-friendly style - without eschewing academic methodology demonstrates economics to be a living, breathing discipline rooted in the real world.

Whether you are a student, academician, journalist, practicing economist or interested outsider, Speaking of Economics will get you interested in a conversation about economics.

Although a number of selected African countries have made efforts to implement various financial sector reforms, many countries have not fully implemented the requisite reforms required for sustainable development. Instead, they have focused mainly on bank-based financial reforms, thereby neglecting market-based financial reforms. This study provides a one-stop shop for understanding the history and evolution of the financial sector in Africa with a special focus on the sub-Saharan region where the financial system in many countries is still at a relatively nascent stage. The analysis is extensive and robust, and starts from financial repression to financial liberalisation (both internal and external), and its role in sustainable development and poverty alleviation. The book covers a range of important research issues pertaining to financial development in selectede African countries, including interest rate and exchange rate reforms, the dynamics of bank-based and market-based financial development; the role of the informal financial sector in sustainable development; the finance-growth nexus; bank-based versus market-based financial sectors in Africa; financial development and information and communication technology; and financial development and gender equality, among other topics. The book also considers the relationship between the COVID-19 global pandemic and financial development, and concludes by presenting a forecast of the future trends of financial and sustainable development on the African continent in general and sub-Saharfan Africa in particular. The chapters are authored by prominent scholars and researchers in the field of finance and banking, applied econometrics and development economics, with a deep understanding and knowledge of financial development and the local situations in African countries. This book provides crucial reference material for academics, researchers, policymakers and students of all levels and is a must-read for anyone wishing to understand the nature of finance and sustainable development in Africa in relation to the rest of the world. It covers African countries, but with more emphasis on the sub-Saharan African region where the financial systems in many of the countries are still relatively underdeveloped.

Well researched and constructive, this volume is concerned with the historical and contemporary discourse on African development and the continent's place in the global economy. The chapters critically explore the roles played by various global and local social forces in the construction of the New Partnership for Africa's Development (NEPAD) offering critical insights on financing for development, the WTO and agriculture, ICTs and FDIs and the war on terrorism. NEPAD has been endorsed by the African Union, the Group of Eight and the United Nations System in order to address Africa's deficit through the forging of a global development partnership. This timely resource is suitable for students and policymakers concerned with development in the African postcolonies.

Judge Richard A. Posner's work on the economics of public law is a critical component of the interaction between the new law and economics movement and public choice theory. It exemplifies the parallel influence that these two important intellectual movements have had on the current understanding of legal institutions. Together with an insightful introduction by Francesco Parisi, this volume brings together his most important contributions on areas such as: the economics of constitutional law and legislation the economics of criminal law the economics of labour law and employment discrimination the economics of antitrust. The Economics of Public Law will be essential reading for economists, lawyers and judges alike.

Rich and informative case studies throughout bring this book to life for professionals and students alike. Written by one of the leading competitive experts in the world. Tackles a complex issues in a lively and engaging way.

How economics needs to change to keep pace with the twenty-first century and the digital economy Digital technology, big data, big tech, machine learning, and AI are revolutionizing both the tools of economics and the phenomena it seeks to measure, understand, and shape. In Cogs and Monsters, Diane Coyle explores the enormous problems-but also opportunities-facing economics today and examines what it must do to help policymakers solve the world's crises, from pandemic recovery and inequality to slow growth and the climate emergency. Mainstream economics, Coyle says, still assumes people are "cogs"-self-interested, calculating, independent agents interacting in defined contexts. But the digital economy is much more characterized by "monsters"-untethered, snowballing, and socially influenced unknowns. What is worse, by treating people as cogs, economics is creating its own monsters, leaving itself without the tools to understand the new problems it faces. In response, Coyle asks whether economic individualism is still valid in the digital economy, whether we need to measure growth and progress in new ways, and whether economics can ever be objective, since it influences what it analyzes. Just as important, the discipline needs to correct its striking lack of diversity and inclusion if it is to be able to offer new solutions to new problems. Filled with original insights, Cogs and Monsters offers a road map for how economics can adapt to the rewiring of society, including by digital technologies, and realize its potential to play a hugely positive role in the twenty-first century.

Provocative and reflective, this volume on the notion of knowledge and innovation in the business industry provides readers with a holistic approach to the subject of 'knowledge'.

Structuring their arguments around four case studies of innovation within four entirely different contexts, Hakansson and Waluszewski invite the business-minded reader to consider the costs of adopting new knowledge and innovation within a business setting.

This book:

• questions the long-held assumption that new knowledge and innovation are universally advantageous
• follows the tremor of an innovation as new knowledge reverberates through, or is dampened by the larger economic community - including cultural structures, the industrial standards and the foundational assumptions that rule a particular economic domain
• focuses in particular on the interfaces where the innovative agent connects to its customers, suppliers and competitors.

An ideal reference source for postgraduate students taking advanced courses in science and technology studies, innovation management, industrial marketing and purchasing, technological development and innovation systems.

Adam Smith (1723-1790) is widely regarded as one of the great thinkers of the Enlightenment period. Best-known for his founding work of economics, The Wealth of Nations, Smith engaged equally with the nature of morality in his Theory of Moral Sentiments. He also gave lectures on literature and jurisprudence, and wrote papers on art and science. In this outstanding philosophical introduction Samuel Fleischacker argues that Smith is a superb example of the broadly curious thinkers who flourished in the Enlightenment-for whom morality, politics, law, and economics were just a few of the many fascinating subjects that could be illuminated by naturalistic modes of investigation. After a helpful overview of his life and work, Fleischacker examines the full range of Smith's thought, on such subjects as: epistemology, philosophy of science, and aesthetics the nature of sympathy moral approval and moral judgement virtue religion justice and jurisprudence governmental policy economic principles liberalism. Including chapter summaries, suggestions for further reading, and a glossary, Adam Smith is essential reading for those studying ethics, political philosophy, the history of philosophy, and the Enlightenment, as well as those reading Smith in related disciplines such as economics, law, and religion.

A uniquely hybrid approach to welfare state policy, ecological sustainability and social transformation, this book explores transformative models of welfare change. Using Ireland as a case study, it addresses the institutional adaptations needed to move towards a sustainable welfare state, and the policy of making such transformation happen. It takes a theoretical and practical approach to implementing an alternative paradigm for welfare in the context of globalisation, climate change, social cohesion, automation, economic and power inequalities, intersectionality, and environmental sustainability, as well as perpetual crisis, including the pandemic.

Although today's richest countries tend to have long histories of secure private property rights, legal-titling projects do little to improve the economic and political well-being of those in the developing world. This book employs a historical narrative based on secondary literature, fieldwork across thirty villages, and a nationally representative survey to explore how private property institutions develop, how they are maintained, and their relationship to the state and state-building within the context of Afghanistan. In this predominantly rural society, citizens cannot rely on the state to enforce their claims to ownership. Instead, they rely on community-based land registration, which has a long and stable history and is often more effective at protecting private property rights than state registration. In addition to contributing significantly to the literature on Afghanistan, this book makes a valuable contribution to the literature on property rights and state governance from the new institutional economics perspective.

When one thinks about how collective decisions are made, voting is the method that comes naturally to mind. But other methods such as random process and consensus are also used. This book explores just what a collective decision is, classifies the methods of making collective decisions, and identifies the advantages and disadvantages of each method. Classification is the prelude to evaluation. What are the characteristics of a method of making collective decisions, the book asks, that permit us to describe a collective decision as good? The second part of the book is detailed exploration of voting: the dimensions in which voting situations differ, the origins and logic of majority rule, the frequency of cycles in voting, the Arrow and Gibbard-Satterthwaite theorems, criteria for ways of cutting through cycles and the application of these criteria to a variety of rules, voting over continuums, proportional representation, and voting rules that take account of intensities of preferences. Relatively unknown methods of voting give voting a much greater potential than is generally recognized. Collective Decisions and Voting is essential reading for everyone with an interest in voting theory and in how public choices might be made.

Across seventeen volumes to date, the Collected Works of F. A. Hayek series has anthologized the diverse and prolific writings of the Austrian economist synonymous with classical liberalism. Essays on Liberalism and the Economy traces the author’s long and evolving writings on the cluster of beliefs he championed most: liberalism, its core tenets, and how its tradition represents the best hope for Western civilization. This deft selection includes some of Hayek’s most important and famous essays as well as unpublished and lesser-known works. It contains material from almost the entire span of Hayek’s career, the earliest from 1931 and the last from 1984. The works were written for a variety of purposes and audiences, and they include—along with conventional academic papers—encyclopedia entries, after-dinner addresses, a lecture for graduate students, a book review, newspaper articles, and letters to the editors of national newspapers. While many are available elsewhere, two have never appeared in print, and two others have not been published in English. The varied formats collected here are enriched by Hayek’s changing voice at different stages of his life. Some of the pieces resonate as high-minded and noble; others are less formal. Some see Hayek focus on expounding his own views; others are primarily critiques of the ideas of other prominent thinkers like John Maynard Keynes and John Kenneth Galbraith. All serve to distill important aspects of Hayek’s worldview.

This volume examines the tangled relationship between globalization and governance through the lens of India's domestic politics, structures, institutions and policies. The contributors to this volume draw attention to the interconnectedness of global and domestic processes. In doing so, this volume also captures the evolving dynamics of state-society-market relations. A unique blend of papers, the collection brings out the complex interplay and interconnections between global trends, domestic politics and governance challenges in explaining both persistence of policy reforms, as well as institutional change. In this light, the volume examines the role of socio-political processes and key actors at the domestic level; how they have negotiated global norms, pressures and opportunities resulting in durable policies and institutions. The COVID-19 pandemic has yet again brought the focus back on the significance and interconnectedness of globalization and governance. This volume will contribute to a deeper understanding of these twin processes through thematic discussions on embedded liberalism of the Indian state; transnationalisation of India's economic elites; exploring the role of global-local linkages in the transparency laws; strategic internationalization and the politics of reform; the global success of micro-credit and its domestic manifestation; and the resilience and durability of the 'Indian model' of governing globalization. This book was originally published as a special issue of the India Review.