Rent, resources, and technologies are three crucial issues to the understanding of history and economics. The scarcity of resources, its interplay with technology, and the role of rent in explaining both economic growth and income distribution are investigated by adopting a multi-sectoral and non-proportional model, where scarce resources impose several scale constraints that may slow growth, but may contribute to further development of new technologies. In this dynamic framework the category of rent acquires new dimensions with far-reaching implications for both the system of prices and the distribution of income. The analytical and formal-theoretical perspective of this book could be used as a basis for future historical and quantitative studies.

Sovereign Wealth Funds (SWFs) - state investment vehicles based on balance of payment surpluses - have come increasingly under the scrutiny of public opinion over the past decade. Their remarkable investments in developed economies have also attracted the attention of politicians, academics and financial operators. At first ignored, then seen as a cause for concern, they finally came to be viewed as stabilising agents amid the troubles of the 2007-2009 financial tsunami. Having sponsored the bailouts of some significant Western banks, SWFs underwent a phase of retrenchment concomitant with the shrinking of economic growth, the bursting of financial and real-estate bubbles and the emphasis on refocusing liquidity on domestic markets that followed in the wake of the crisis. Since the second half of 2009, however, SWFs have adjusted targets and strategies to the new financial paradigm and re-engaged in the global economy, proving to be major players in the international financial markets. The universe of SWFs symbolises a shift in the balance of economic power, with the dominant areas being the Gulf Council countries, China, Singapore, Russia, Libya and Norway.It is also an area of finance that has hitherto remained - and not accidentally - profoundly obscure. This book presents comprehensive research and analysis of this shift, as well as the related issue of transparency. It furthermore brings together the best research and information available on the activities of SWFs, detailing previously hard to find operational information. In this book the authors answer key questions, such as: - What defines a SWF? - When and how did SWFs emerge? - What investment strategies do SWFs pursue? - What are the main financial, economic and political consequences of the operations of SWFs? - What reactions have SWFs triggered in their domicile countries and abroad? - Is transparency in SWFs really important and for whom? - What approach has been taken by international organisations towards SWFs? 'Sovereign Wealth Funds' provides a detailed guide to an area of finance worth trillions of dollars, involving many of the world's governments, and affecting a wide array of sectors. It should prove essential reading for anyone looking to understand this international financial phenomenon.

The analysis of the interactions between natural resource scarcity, technological innovation and the dynamics of eco- nomic systems has a long-standing tradition in economics. During the 1980s and the early 1990s, a new phase of these interactions initiated under the effects of technological revolution and the problem of the environment. The general concept behind this book is that the issue of natural resou- cesand the environment in relation to economic growth can- not be addressed without due consideration for the effects of technological innovation on thedynamics of economic sy- stems. Technological innovation alone, however, is not a sufficient condition for the sustainability of economic growth. Policies may have a role in solving the internatio- nal distribution problems generated by the non-converging development path of developed and developing countries. In particular, the new international order shaped by the events of the 1980s, made it possible for world management to ad- dress the problems of poverty and the environment.

Rent, resources, and technologies are three crucial issues to the understanding of history and economics. The scarcity of resources, its interplay with technology, and the role of rent in explaining both economic growth and income distribution are investigated by adopting a multi-sectoral and non-proportional model, where scarce resources impose several scale constraints that may slow growth, but may contribute to further development of new technologies. In this dynamic framework the category of rent acquires new dimensions with far-reaching implications for both the system of prices and the distribution of income. The analytical and formal-theoretical perspective of this book could be used as a basis for future historical and quantitative studies.

This volume contains some essays of two international conferences both organized by Fondazione Edison under the aegis and with the scientific collaboration of the Accademia Nazionale dei Lincei. The first conference is "Districts, Pillars, Network Facilities" held in Rome, in the siege of Lincei at Palazzo Corsini, on 8* and 9* April, 2003. The Organizing Committee of this conference was composed by Giacomo Becattini, Sergio Carra, Marco Fortis, Giorgio Lunghini, Luigi Pasinetti, Umberto Quadrino, Alberto Q- drio Curzio, Alessandro Roncaglia and Edoardo Vesentini. The second conference is "New Science, New Industry - The Challenges for the New Europe" held in Rome in the siege of Lincei at Palazzo Corsini, on 13* and 14* October, 2004. The Organizing Committee of this conference was com- posed by Arnaldo Bagnasco, Patrizio Bianchi, Sergio Carra, Marco Fortis, Au- sto Graziani, Alberto Quadrio Curzio, Edoardo Vesentini and Giovanni Zanetti. Both were international conferences with the participation of a total of 48 speakers coming fi-om 9 different countries. We publish in this volume only some essays of the two Conferences as the de- cision to edit a book in English was taken only after the two conferences were over. Therefore not all the speakers were able to contribute with a paper. Some information are useful to know the two organizing Institutions.

This volume contains the proceedings of the international conference "Complexity and Industrial Clusters: Dynamics and Models in Theory and Practice", organized by Fondazione Comunita e Innovazione and held in Milan on June 19 and 20, 2001 under the aegis of the Accademia Nazionale dei Lincei (founded in Rome in 1604), one of the oldest and most famous national academies of science in the world. Fondazione Comunita e Innovazione encourages research and the dissemination of knowledge about social, economic, cultural and civil issues. It promotes research and innovation related to local production systems and industrial districts, with special reference to: the interactions between large companies and SMEs (small and medium-size enterprises), the effects of industrial districts on the development and welfare of their communities and of neighbouring areas, the effects of globalisation on these local systems of productions. Fondazione Comunita e Innovazione was created in Milan in 1999. It supports studies, publications, and events, both on its own and in cooperation with corporations, research institutes, foundations, associations and universities. It also grants scientific sponsorship to research that is in line with its mission, as set forth in its by-laws. The founding member of the Fondazione is Edison (formerly Monted:son). The other subscribing members, in historical order, are: Ausimont, Tecnimont, Eridania, Accenture, and PricewaterhouseCoopers.

The enlargement of the European Union towards the East from May 2004 has generated an increase of about 100 million inhabitants in the EU population, and has especially brought along major challenges and important opportunities both for the "new" countries and for the "old" member states. That is the main focus of this volume, which is divided into three sections. The first analyses the effects of the enlargement on the functioning of Community institutions, on the relations with the other Eastern European countries, and finally on regional and global economic dynamics; the second section analyses in detail the role of the monetary politics of the European Central Bank and the activities of the European Bank for Reconstruction and Development; and the third deals with the importance of the entrepreneurial class in ensuring the success of the transition process of the Eastern European economies.