Over the past two decades, many welfare states have experienced a combination of low economic growth and rising unemployment, concurrent with increasing pension and health care obligations, which has exacerbated government budget deficits. Some analysts forecast that for a number of welfare states these problems will worsen in the future. Their fiscal problems, in particular, present welfare state policy makers with the dilemma of attempting to fund redistribution schemes consistent with the ideal of a secure egalitarian society while at the same time remaining competitive in a 'new economy' that places a premium on competition, innovation, and flexible labour and product markets. Thus, an important issue has emerged: what types of reforms are required to enable welfare states to preserve sustainability? For the purpose of this study, a sustainable welfare state is one that can remain the guarantor against social risks and adverse economic trends for all segments of their respective societies and satisfy sound fiscal criteria (such as the Maastricht requirement for all members of the EMU that their fiscal budget deficit does not exceed 3% of the GDP), without imposing considerable financial burdens on future generations.

This book explores an important, emergent issue: what types of reforms are required to enable welfare states to preserve sustainability? For the purpose of this study, a sustainable welfare state is one that can remain the guarantor against social risks and adverse economic trends for all segments of their respective societies and satisfy sound fiscal criteria (such as the Maastricht requirement for all members of the EMU that their fiscal budget deficit does not exceed 3% of the GDP), without imposing considerable financial burdens on future generations.

Although political rhetoric and public perception continue to assume that the United States is the very definition of a free market economy, a different system entirely has in actuality come to prominence over the past half century. This Corporate Welfare Economy (CWE) has come about as government come increasingly under the influence of corporate interests and lobbyists, with supposedly equalising factors such as regulation skewed in order to suit the interests of the privileged while an overwhelming majority of US citizens have experienced a decline in their standard of living. James Angresano examines the characteristics of this mode of capitalism, both from the theoretical point of view but also with key reference to the different sectors of the economy - trade, manufacturing, industry and defense among them.

Although political rhetoric and public perception continue to assume that the United States is the very definition of a free market economy, a different system entirely has in actuality come to prominence over the past half century. This Corporate Welfare Economy (CWE) has come about as government come increasingly under the influence of corporate interests and lobbyists, with supposedly equalising factors such as regulation skewed in order to suit the interests of the privileged while an overwhelming majority of US citizens have experienced a decline in their standard of living. James Angresano examines the characteristics of this mode of capitalism, both from the theoretical point of view but also with key reference to the different sectors of the economy - trade, manufacturing, industry and defense among them.

This book provides an evaluation of the intellectual development of Gunnar Myrdal, emphasizing his methodology, his beliefs about economics and the role of economists in modern society. It explains how Gunnar Myrdal became an institutional economist and how this perspective influenced his contribution to economic development and attempts to close the gap between rich and poor countries.The main argument of the book is that economists, despite being trained in the orthodox neoclassical tradition, can develop an alternative conception that is more relevant and appropriate for analysis and policy making in developing and transition economies. Much of the discussion focuses on the evolution of Gunnar Myrdal's intellectual development and his contributions to transformation issues in an historical context. Specific issues discussed include political and social problems and transformation policy for Central and Eastern Europe. The Political Economy of Gunnar Myrdal will be welcomed by academics and students researching in the fields of the history of economic thought, comparative economics and economic development.