This book rethinks economic theory and calls for a creative and pragmatic approach to policymaking. It examines what development and sustenance of economic progress mean, and how these may be facilitated. The relevance of this issue has received fresh impetus from the significant changes in the degree and pattern of international economic relations that are unfolding across the world, posing both opportunities and challenges. While globalisation of goods and financial markets may have delivered high growth for some nations, the distribution of the benefits has often been highly unequal, with gains to owners of capital and skills being disproportionately higher compared to that of labour, especially the unskilled. Widening and persistent inequalities have been at the heart of rising polarisation and spread of conflicts that threaten the social fabric. This work emphasises the relevance of a broad policy framework based on building individual capabilities and in line with a human-centric perspective. At the same time, it points out the crucial need to create policy space for macroeconomic stability and to accommodate heterodox influences, especially when conventional wisdom proves inadequate, as starkly demonstrated inter alia during the recent global financial crisis. This festschrift, dedicated to Deepak Nayyar, presents chapters on diverse themes that address the persisting global problems of poverty, inequality and sustaining development. The book will be of great interest to scholars and researchers of economics, development studies, public policy and governance, and also to policymakers, government officials and those in media.

First published in 2002. Routledge is an imprint of Taylor and Francis, an informa company.

First published in 2002. Routledge is an imprint of Taylor and Francis, an informa company.

First published in 2006. Routledge is an imprint of Taylor & Francis, an informa company.

This book rethinks economic theory and calls for a creative and pragmatic approach to policymaking. It examines what development and sustenance of economic progress mean, and how these may be facilitated. The relevance of this issue has received fresh impetus from the significant changes in the degree and pattern of international economic relations that are unfolding across the world, posing both opportunities and challenges. While globalisation of goods and financial markets may have delivered high growth for some nations, the distribution of the benefits has often been highly unequal, with gains to owners of capital and skills being disproportionately higher compared to that of labour, especially the unskilled. Widening and persistent inequalities have been at the heart of rising polarisation and spread of conflicts that threaten the social fabric. This work emphasises the relevance of a broad policy framework based on building individual capabilities and in line with a human-centric perspective. At the same time, it points out the crucial need to create policy space for macroeconomic stability and to accommodate heterodox influences, especially when conventional wisdom proves inadequate, as starkly demonstrated inter alia during the recent global financial crisis. This festschrift, dedicated to Deepak Nayyar, presents chapters on diverse themes that address the persisting global problems of poverty, inequality and sustaining development. The book will be of great interest to scholars and researchers of economics, development studies, public policy and governance, and also to policymakers, government officials and those in media.

How do markets work? This reader introduces the student to the workings of the market, explaining both the reasons for its success and its shortcomings. Throughout, the text encourages a critical approach demonstrating the diversity of market economies. In particular it explores: * the social nature of market economies* the range of approaches to the study of the market: Marxist, Austrian, Keynesian and institutional economics are discussed as alternatives to the neo-classical mainstream* the differences between Anglo-American, European and Asian economic models* the historical development of markets* globalisation: its extent and its impact* the costs and the benefits of market

`This is an extremely helpful and imaginative set of readings which MBA and other business students will find very useful. The Editor makes a compelling case for business students to be aware of the economic and social policy environment in which modern business has to operate. It distinguishes itself from other Readers by considering policy environment questions from different theoretical perspectives. Policy Issues for Business will therefore be an important addition to course teaching in this area'- Ajit Singh, University of Cambridge

Policy Issues for Business is an invaluable tool for students taking courses in strategy, business policy and management. The Reader covers a wide domain, including relevant issues in economics and technology. The readings are neatly divided into eight sections, with a student's introduction to each. The various sections look at the role of policy and the relationship between theory and policy, issues around competition, science technology and innovation policy, international trade and investment policy, regional policy and environmental policy.

Policy Issues for Business will be required reading for undergraduate as well as MBA courses on business policy, technology and innovation management, change management and strategy.

This text is a course Reader, in a series of three (alongside Decision Making for Business, and Strategy for Business), which make up the main teaching texts of The Open University undergraduate course Business Behaviour in a Changing World (B300).