This book reviews the experience of 14 countries with external liberalization and related policies, based on papers written by national authors following a common 0000oeconomic methodology. The methodology, the papers' main results, and policy implications are summarized in the introductory chapter.
The book reports on a follow-on project to the country studies presented in Lance Taylor (ed.), External Liberalization, Economic Performance, and Social Policy, OUP, 2001. The new project represents a significant extension of the earlier work in that it focuses principally on formerly socialist European economies (Hungary, Poland, Russia), Asian economies (consistently growing China, India, Singapore, and Vietnam; the 1997-98 crisis victims Indonesia, Korea, Malaysia, and Thailand; and cyclically stagnant Philippines and Turkey). Brazil is also included as an important comparator. Macroeconomics has traditionally been less actively pursued in Asia and the transition economies than, say, in Latin America. The 1997-98 crisis awoke the Asians to the importance of macro, and the present book is in part a response to the development.
A distinguishing feature of the book is the common methodology, which focuses on the mechanisms via which effective demand is generated and the interactions of labor productivity, employment growth, and income distribution. The country papers show clearly how trade and capital account liberalization along with changes in the real exchange rate affected demand, productivity, and employment at the country level. They also trace through shifts in the overall income distribution and the incidence of poverty. The authors of the papers bring a wealth of insightinto their thick descriptions a la Clifford Geertz's famous Balinese cockfight about how diverse economies responded to rather similar reform packages and offer lessons about ongoing institutional change. They also suggest policy shifts that may help make economic performance better in the future than it has been in the past.

This section explores some of the key macroeconomic issues facing developing countries and looks at applications of the new institutional economics to the agrarian sector in less developed economies.

- The book integrates the philosophical and practical aspects of solution-focused practice and includes the most recent understandings of the model by two experienced practitioners, supervisors, and trainers. - The book contains extensive examples of the opportunities approach in a variety of applications including therapy, supervision, training, and coaching - Transcripts of practice with the authors’ discussions and comments are included - Book is structured to move from theory to practice.

- The book integrates the philosophical and practical aspects of solution-focused practice and includes the most recent understandings of the model by two experienced practitioners, supervisors, and trainers. - The book contains extensive examples of the opportunities approach in a variety of applications including therapy, supervision, training, and coaching - Transcripts of practice with the authors’ discussions and comments are included - Book is structured to move from theory to practice.

This hard-hitting research report presents a rigorous critique of the most widely used trade models based on computable general equilibrium (or CGE) models. The authors present concise analytical arguments explaining the fundamental weaknesses of typical CGE models. They show that these models tend to make unrealistic assumptions about the macro-economy and do not allow an accurate estimation of the welfare gains that trade liberalisation is supposed to induce. The report appeals for honest simulation strategies showing a variety of possible outcomes, which would enable policy-makers to assess the different scenarios for themselves.

This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley's work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley's contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.

America's drug laws have always exerted an unequal and unfair toll on Blacks and Latinos, who are arrested more often than Whites for the possession of illegal drugs and given harsher sentences. In this volume, contributors ask how would marijuana legalization affect communities of color? Is legalization of marijuana necessary to safeguard minority families from a lifetime of hardship and inequality? Who in minority communities favors legalization and why, and do these minority opinions differ from the opinions held by White Americans? This volume also includes analyses of the policy debate by a range of scholars addressing economic, health, and empowerment issues. Comparative lessons from other countries are also analyzed.

This book provides an interesting and refreshing collection of economic research conducted in the broadly heterodox tradition. A variety of topical issues are addressed, including labor market inequalities, welfare reform, interest rate policies, international trade, and global financial instability. What unites these diverse essays is their common perspective that social institutions and structures "matter" to the performance of economies, and hence should receive more attention from economists. Conventional economic thought focuses unduly on the functioning of so-called "free-markets." The persistent influence of social structures, institutions and practices - and the unequal extent to which differing social constituencies are able to exert power through those structures - often receives short shrift in this traditional research. However, this volume makes a significant contribution by helping to reverse this trend. The chapters, all written by top economists from around North America, address a range of topical issues, utilizing a rich variety of methodological techniques from empirical investigations to game theory and opinion surveys. Furthermore, the book, which is dedicated to the memory of David M. Gordon, has as its unifying theme the incorporation of structural analysis into economic science - an important goal for academics and students alike.

This book provides an interesting and refreshing collection of economic research conducted in the broadly heterodox tradition. A variety of topical issues are addressed, including labor market inequalities, welfare reform, interest rate policies, international trade, and global financial instability. What unites these diverse essays is their common perspective that social institutions and structures "matter" to the performance of economies, and hence should receive more attention from economists. Conventional economic thought focuses unduly on the functioning of so-called "free-markets." The persistent influence of social structures, institutions and practices - and the unequal extent to which differing social constituencies are able to exert power through those structures - often receives short shrift in this traditional research. However, this volume makes a significant contribution by helping to reverse this trend. The chapters, all written by top economists from around North America, address a range of topical issues, utilizing a rich variety of methodological techniques from empirical investigations to game theory and opinion surveys. Furthermore, the book, which is dedicated to the memory of David M. Gordon, has as its unifying theme the incorporation of structural analysis into economic science - an important goal for academics and students alike.

America's drug laws have always exerted an unequal and unfair toll on Blacks and Latinos, who are arrested more often than Whites for the possession of illegal drugs and given harsher sentences. In this volume, contributors ask how would marijuana legalization affect communities of color? Is legalization of marijuana necessary to safeguard minority families from a lifetime of hardship and inequality? Who in minority communities favors legalization and why, and do these minority opinions differ from the opinions held by White Americans? This volume also includes analyses of the policy debate by a range of scholars addressing economic, health, and empowerment issues. Comparative lessons from other countries are also analyzed.

There has always been some tension between proponents of hypothesis-driven and discovery-driven research in the broad field of life sciences. Academic research has been primarily focused on hypothesis-driven research. However, the success of the human genome project, a discovery-driven research approach, has opened the door to adding other types of discovery-driven research to a continuum of research approaches. In contrast, drug discovery research in the pharmaceutical industry has embraced discovery-driven research for many years. A good example has been the discovery of active compounds from large chemical libraries, through screening campaigns. The success of the human genome project has also demonstrated the need for both academic researchers and industrial researchers to now understand the functions of genes and gene products. The cell is the basic unit of life and it has been at the cellular level where function can be demonstrated most cost-effectively and rapidly. High content screening (HCS) was developed by Cellomics Inc. in the mid-1990s to address the need for a platform that could be used in the discovery-driven research and development required to understand the functions of genes and gene products at the level of the cell.

For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.

The papers provide a cutting-edge overview of general issues regarding world capital markets, experience in developing countries and capital market regulation, which many economists believe could turn into the number one topic in international business and economics.

These papers provide a cutting-edge overview of general issues regarding world capital markets, experience in developing countries, and capital market regulation, which many economists believe could turn into the number one topic in international business and economics.

This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley's work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are intellectual biographies that contextualize and identify Foley's contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises. The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.

Religious Leaders and Faith-Based Politics: Ten Profiles offers a powerful and timely analysis of the dynamic relationship between religious leaders of all faiths and political activism in the United States. By examining the lives and works of such prominent leaders as Reverend Floyd Flake, Bishop T. D. Jakes, Reverend Al Sharpton, Elder Dallin H. Oakes, Rabbi Daniel Lapin, Reverend Benjamin Chavis-Muhammed, and Sister Maureen Fiedler, this volume reveals an American tradition of religious influence on public policy that continues to be an important hallmark of our democracy. From the colonial era to the present, religious leaders have raised AmericansO moral and political awareness of countless issues, including revolution, slavery, temperance, civil rights, and, most recently, the culture wars. This book is the first to explore the renewed and intense commitment of evangelicals, Catholics, Muslims, and Jews to preach, teach, and participate in politics today. Among the questions answered in this book: are religious leaders today as active and vocal as the radicals of the turbulent 1960s? Are these activists still involved in civil rights or have other contentious topics such as abortion and traditional family values preempted such issues? In the wake of the 2000 election and at the start of a new administration committed to elevating the role of religion in politics, Jo Renee Formicola, Hubert Morken, and this prominent collection of contributors ask might we expect greater American religious involvement in the years ahead? This is essential reading for anyone interested in religious and political activism, or the evolving relationship between church and state in America.

Economic structuralists use a broad, systemwide approach to understanding development, and this textbook assumes a structuralist perspective in its investigation of why a host of developing countries have failed to grow at 2 percent or more since 1960. Sensitive to the wide range of factors that affect an economy's strength and stability, the authors identify the problems that have long frustrated growth in many parts of the developing world while suggesting new strategies and policies to help improve standards of living.

After a survey of structuralist methods and post-World War II trends of global economic growth, the authors discuss the role that patterns in productivity, production structures, and capital accumulation play in the growth dynamics of developing countries. Next, it outlines the evolution of trade patterns and the effect of the terms of trade on economic performance, especially for countries that depend on commodity exports.

The authors acknowledge the structural limits of macroeconomic policy, highlighting the negative effects of financial volatility and certain financial structures while recommending policies to better manage external shocks. These policies are then further developed through a discussion of growth and structural improvements, and are evaluated according to which policy options-macro, industrial, or commercial--best fit within different kinds of developing economies.

It is now widely agreed that mainstream macroeconomics is irrelevant and that there is need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis. Lance Taylor's book exposes the unrealistic assumptions of the rational expectations and real business cycle approaches and of mainstream finance theory. It argues that in separating monetary and financial behavior from real behavior, they do not address the ways that consumption, accumulation, and the government play in the workings of the economy. Taylor argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes's basic points were fundamental uncertainty and the absence of Say's Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models. Employing these ideas throughout Maynard's Revenge, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it.

For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.