First published in 1987. Similar in content to Sherman's previous book, Radical Political Economy, it covers most of the same issues and reaches the same overall conclusion in favour of democracy and socialism. Many of the analyses and conclusions on particular subjects, however, have changed because of the flood of new literature in every area of radical political economy and because the world has changed. The most important issue is the prevention of nuclear war.

In the years since 2007 the U.S. economy has endured a severe financial crisis, a Great Recession, and continuing heavy unemployment. These events have led to increasing discontent among many people contributing to a substantial vote for Bernie Sanders and the election of Donald Trump. Meanwhile, Europe has witnessed the rise of nationalist parties and Brexit. In the face of these problems and events, economics must change. Principles of Macroeconomics: Activist vs. Austerity Policies provides an antidote to the standard macro texts offering multiple points of view instead of one standard line, a fact-based focus on the causes and cures of instability in economics, and an examination of inequality in the United States. Readers are introduced to both the Classical view, which takes the conservative approach and argues for an austerity program to reduce the size of the government; and the Progressive view, which argues for government intervention to create a strong recovery. These ideas are applied to all the key macroeconomic topics including economic growth, business cycles, and monetary policy. Using the methodology of Wesley Mitchell and drawing on the work of Keynes, the authors also explore topics such as unemployment, the human cost of economic crashes, increasing inequality of income, and the history of capitalism. This second edition includes new material on the Obama recovery, the crisis in the Eurozone, the rise of populism, and the current state of healthcare, education, and environmental issues in America to bring the text fully up to date. It will be of great interest to undergraduate students and particularly those studying the economics of the United States.

Written by one of the foremost experts on the business cycle, this is a compelling and engaging explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2008-2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of business cycles, and he provides a thoughtful alternative that would rein in their destructive effects.

Written by one of the foremost experts on the business cycle, this is a compelling and engaging explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2008-2009. He makes a powerful argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of business cycles, and he provides a thoughtful alternative that would rein in their destructive effects.

This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. Revised, expanded, and updated for this new edition, the text puts the study of microeconomics, macroeconomics, and globalization in their historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This allows students to see economics as a way of understanding the world - as a lens for social analysis - rather than, as immutable truth or ideal to which the world should be molded.This completely revised edition incorporates new chapters on microeconomics and macroeconomics, as well as more graphs to enhance the theoretical presentations. Unlike the previous editions, it includes many pedagogical tools to encourage student participation and learning. Each of the 56 chapters opens with Learning Objectives, and key terms appear in boldface within the text and are listed at the end of each chapter. Other end-of-chapter material includes Summary of Major Points, Analytical Questions, and References. An online Instructor's Manual is available to professors who adopt the text.

In this text, the authors engage in a dialogue on social evolution from Institutionalist and Marxist perspectives, each representing one side. It is their intention to explore the way society develops using the equally radical, but very different approaches of Thorstein Veblen and Karl Marx. The dialogue proceeds with a series of questions - each answered from the two perspectives. Beginning with an intellectual history and definition, the book examines social evolution in terms of causal elements including: economic relations; technology; political relations; and social processes; structural change; social tension; and social conflict. It thus provides a guide on how different economic theories can be used as a tool to view society - and the way different standpoints can both compliment and contradict each other. The result should be an accessible study of economic evolution that is intended for students of political economy.

Series Information:
Advances in Social Economics

This classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. Revised, expanded, and updated for this new edition, the text puts the study of microeconomics, macroeconomics, and globalization in their historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This allows students to see economics as a way of understanding the world - as a lens for social analysis - rather than, as immutable truth or ideal to which the world should be molded.This completely revised edition incorporates new chapters on microeconomics and macroeconomics, as well as more graphs to enhance the theoretical presentations. Unlike the previous editions, it includes many pedagogical tools to encourage student participation and learning. Each of the 56 chapters opens with Learning Objectives, and key terms appear in boldface within the text and are listed at the end of each chapter. Other end-of-chapter material includes Summary of Major Points, Analytical Questions, and References. An online Instructor's Manual is available to professors who adopt the text.

Here is a treasury of favorite and little known tales from Africa, Asia, Europe, the Americas, Australia, and Oceania, gracefully retold and accompanied by fascinating, detailed information of their historic and cultural backgrounds. The introduction provides an informative overview of folklore, its purpose in world cultures and in contemporary society and popular culture. Following this, the main sections of the book are arranged by tale type, covering wonder tales, hero tales, tales of kindness repaid and hope and redemption, and finally tales of fools and wise people. Each section begins by comparing the tales cross-culturally, explaining similarities and differences in the folkloric narratives. Tales from diverse cultures are then presented, introduced, and retold in a highly readable fashion.

Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and painful involuntary unemployment are endogenous to capitalism. Drawing especially on the work of Wesley Clair Mitchell, Karl Marx, and John M. Keynes, Sherman explains why the nature of the business cycle produces serious economic loss and misery during its contraction phase, just as it produces growth in its expansion phase.

Originally published in 1992.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

In the years since 2007 the U.S. economy has endured a severe financial crisis, a Great Recession, and continuing heavy unemployment. These events have led to increasing discontent among many people contributing to a substantial vote for Bernie Sanders and the election of Donald Trump. Meanwhile, Europe has witnessed the rise of nationalist parties and Brexit. In the face of these problems and events, economics must change. Principles of Macroeconomics: Activist vs. Austerity Policies provides an antidote to the standard macro texts offering multiple points of view instead of one standard line, a fact-based focus on the causes and cures of instability in economics, and an examination of inequality in the United States. Readers are introduced to both the Classical view, which takes the conservative approach and argues for an austerity program to reduce the size of the government; and the Progressive view, which argues for government intervention to create a strong recovery. These ideas are applied to all the key macroeconomic topics including economic growth, business cycles, and monetary policy. Using the methodology of Wesley Mitchell and drawing on the work of Keynes, the authors also explore topics such as unemployment, the human cost of economic crashes, increasing inequality of income, and the history of capitalism. This second edition includes new material on the Obama recovery, the crisis in the Eurozone, the rise of populism, and the current state of healthcare, education, and environmental issues in America to bring the text fully up to date. It will be of great interest to undergraduate students and particularly those studying the economics of the United States.

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily due to characteristics inherent in the standard operation of capitalist institutions. Furthermore, the authors seek to explain the cycle of boom and bust by considering political and social factors often overlooked by conservative economists. This book also explores how wealth influences political policies in a way that increases economic inequality even more than its present level. Through analysis of American political and economic institutions, Inequality, Boom, and Bust presents concrete steps for an activist, progressive policy to greatly reduce inequality through free healthcare, free higher education, and reduced unemployment.

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily due to characteristics inherent in the standard operation of capitalist institutions. Furthermore, the authors seek to explain the cycle of boom and bust by considering political and social factors often overlooked by conservative economists. This book also explores how wealth influences political policies in a way that increases economic inequality even more than its present level. Through analysis of American political and economic institutions, Inequality, Boom, and Bust presents concrete steps for an activist, progressive policy to greatly reduce inequality through free healthcare, free higher education, and reduced unemployment.

Illustrated in full color throughout, this delightful collection puts the riches of world mythology at the fingertips of students and storytellers alike. It is a treaury of favorite and little-known tales from Africa, Asia, Europe, the Americas, Australia, and Oceania, gracefully retold and accompanied by fascinating, detailed information on their historic and cultural backgrounds. The introduction provides an informative overview of mythology, its purpose in world cultures, and myth in contemporary society and popular culture. Mythic themes are defined and the often-misunderstood difference between myth and legend explained. Following this, the main sections of the book are arranged thematically, covering The Creation, Death and Rebirth, Myths of Origins, Myths of the Gods, and Myths of Heroes. Each section begins by comparing its theme cross-culturally, explaining similarities and differences in the mthic narratives. Myths from diverse cultures are then presented, introduced, and retold in a highly readable fashion. A bibliography follows each retelling so readers can find more information on the culture, myth, and deities. Character, geographical, and general indexes round out this volume, and a master bibliography facilitates research. For students, storytellers, or anyone interested in the wealth of world mythology, Mythology: Stories and Themes from Around the World provides answers to common research questions, sources for myths, and stories that will delight, inform, and captivate.

The collapse of the Soviet Union provides economist Howard Sherman with the opportunity to re-evaluate Marxism as an alternative to conventional pro-capitalist perspectives. Arguing that Soviet Marxism distorted Marxian thought, Sherman acknowledges that Marxism must move beyond its traditional Soviet formulation. What is needed, he writes, is a new, critical Marxism that is integral to a radical political economy - a Marxism that sees society as an organic whole dependent upon an integrated set of relationships. Sherman applies his relational-historical approach to four problems: poverty and exploitation, unemployment, the state, and the history of the Soviet Union. Then, using the same approach, he explores several important subjects of classical Marxism - dialectics, materialism, determinism, and Marxian humanism. The result is an understanding of Marxism that is more open-ended, flexible, and nuanced than previous approaches had allowed. In the final part of the book Sherman reconstructs contemporary Marxism as a political economy, and uses it as a critique of such failed communist societies as the former Yugoslavia and Soviet Union. He also shows how Marxism can be a valuable tool for examining society, economics, and politics in the United States.

Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and painful involuntary unemployment are endogenous to capitalism. Drawing especially on the work of Wesley Clair Mitchell, Karl Marx, and John M. Keynes, Sherman explains why the nature of the business cycle produces serious economic loss and misery during its contraction phase, just as it produces growth in its expansion phase. Originally published in 1991. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Globalization and Change: The Transformation of Global Capitalism explores the origins, development, and transformation of globalization from a critical and historical perspective. Berch Berberoglu brings together eight essays authored by prominent sociological scientists from across the nation that examine the dynamics of globalization through an analysis of class relations and class struggles that define the contemporary global political economy. By undertaking a careful examination of the contradictions inherent in capitalist globalization, this book provides a thorough understanding of the issues behind the global capitalist economy and the struggle against globalization, while at the same time offering a viable solution to the growing exploitation of labor throughout the world. This study on global capitalism, informed by class analysis, is essential to anyone interested in the political implications of globalization and the unfolding class struggles.

Globalization and Change: The Transformation of Global Capitalism explores the origins, development, and transformation of globalization from a critical and historical perspective. Berch Berberoglu brings together eight essays authored by prominent sociological scientists from across the nation that examine the dynamics of globalization through an analysis of class relations and class struggles that define the contemporary global political economy. By undertaking a careful examination of the contradictions inherent in capitalist globalization, this book provides a thorough understanding of the issues behind the global capitalist economy and the struggle against globalization, while at the same time offering a viable solution to the growing exploitation of labor throughout the world. This study on global capitalism, informed by class analysis, is essential to anyone interested in the political implications of globalization and the unfolding class struggles.

Evolution Theory in the Social Sciences is the first collection of its kind to give a coherent historical account of the evolution of evolutionary thought and includes the most innovative and insightful works on the subject, from its very beginnings through to contemporary debates. The selections begin in the nineteenth century with Darwin and Malthus and then follows the variegated story of social evolutionary thought through to the beginning of the 21st Century, including key works by Marx, Veblen and Kropotkin as well as other less well known contributions.