The authors of this book argue that in order to meet the challenges of globalisation and promote their own economic welfare, governments need strong policy instruments that will enable them to take up a strategic role in selected policy arenas. They illustrate how this retooling of policymaking requires a rethinking of the form of government intervention and, especially, an emphasis on its modern developmental role. The book begins with chapters exploring theoretical issues such as: economic and political aspects of the state, the impact of government expenditure, the case for and against free trade, and neoclassical and Keynesian approaches to public finance. Succeeding chapters examine fiscal policy, development problems in the European Community, and the success of Japan, South Korea, Taiwan, Singapore and Hong Kong. The final chapters present the Developmental State argument not only as a coherent theory but more importantly as a realistic development policy framework. This will be an important reference text for students and scholars of public sector economics, public finance, East Asian studies, development studies and governance. Policymakers will also find the in-depth discussions a valuable tool.

In recent times, policy makers, scientists, academics and commentators have become increasingly nervous about the US economic downturn. Discussions have centred around the range and magnitude of the country's socio-economic problems, its vexing production decline and its unsatisfactory macroeconomic performance, which give rise to the following questions: what are the sources of this recent downfall? And can this situation be reversed by pursuing the same orthodox and neoliberal policies? This new edited volume, from a top international set of contributors, seeks to answer these questions and to offer alternative, realistic and feasible strategies and policy recommendations towards reversing this situation. In particular, the volume seeks to challenge US neoliberalism on theoretical and political grounds, and to offer alternative strategies and policies towards addressing the country's recent challenges and multi-dimensional problems. The volume is structured around three main themes: The return of government: Philosophical issues and ethics Economic policies for sustainable growth and prosperity Financial fragility and alternative monetary policy proposals This unique and highly topical, multidisciplinary volume, will be of great interest to students and researchers in the areas of economics, political economy and contemporary US politics.

In recent times, policy makers, scientists, academics and commentators have become increasingly nervous about the US economic downturn. Discussions have centred around the range and magnitude of the country's socio-economic problems, its vexing production decline and its unsatisfactory macroeconomic performance, which give rise to the following questions: what are the sources of this recent downfall? And can this situation be reversed by pursuing the same orthodox and neoliberal policies? This new edited volume, from a top international set of contributors, seeks to answer these questions and to offer alternative, realistic and feasible strategies and policy recommendations towards reversing this situation. In particular, the volume seeks to challenge US neoliberalism on theoretical and political grounds, and to offer alternative strategies and policies towards addressing the country's recent challenges and multi-dimensional problems. The volume is structured around three main themes: The return of government: Philosophical issues and ethics Economic policies for sustainable growth and prosperity Financial fragility and alternative monetary policy proposals This unique and highly topical, multidisciplinary volume, will be of great interest to students and researchers in the areas of economics, political economy and contemporary US politics.

Law is a strange beast. It is often thought of as moral, yet morality and law do not often coincide. It is supposed to encourage individuals to act in accordance with societal wishes, such as the protection of intellectual property encourages someone to invent new products and thereby increase the level of technology, productivity, and economic activity in our economy. Yet law often provides perverse incentives that cause individuals, or even the State, to act in discordant, and therefore inefficient, ways. More than anything else, law in its various forms creates the working rules of an economy, for better or for worse. The popular refrain 'there ought to be a law' is a desire to alter future outcomes when current or past outcomes seem to the public to be inconsistent with their notions of fairness and justice. Regardless, many, if not most, laws applied to our economic system create severe inefficiencies such as minimum wage legislation and rent control laws; these actually serve to deny individuals work and shelter in a haphazard and capricious manner. Law also dictates property rights, yet eminent domain lets the State take it away with seemingly arbitrary compensation to the owner. It is for this reason that workers, employers, managers and others have a stake in understanding the interplay between law and economics and how to evaluate laws to determine whether and how their business property and equity may be impacted by them. It is also incumbent upon individuals to understand the process of rulemaking as a mechanism that can be designed to reduce the transactions costs that cause us to resort to the legal system to resolve disputes. One unique aspect of this book is that it is written with both economists and non-economists in mind. Another difference is that this text does not concern itself with criminal law, which is left to a separate book in the Business Expert Press economics collection. A final difference is that this text discusses the legal organization of businesses as well as tax law from an economics perspective, two items that are not formally treated in other economics of law textbooks.

Too often students in economics emerge with a clear grasp of theory, but precious little ability to apply that theory, especially in the area of microeconomics. They are left with a model that they believe is relevant solely to market mechanisms, when it is in fact suited for inquiry into all avenues of rational choice. At the same time, there is a uniform belief that criminals are plagued by psychological, physiological, or sociological deficiencies that can be remedied only through incarceration or institutionalization. Neither formulation is satisfactory as an exemplar to the general population about how they should be thinking about crime. Workers, employers and managers alike have a stake in effective public policy designed to reduce criminality. According to the Institute for People with Criminal Records, approximately 3% of the US population will be in jail or prison for at least one day during any given year, and nearly 30% of the population has a criminal record. Yet, having a criminal record often serves as a bar to employment and leads individuals who have paid their debts to society on a pathway to recidivism. Thus everyone, from managers in companies considering whether to bar felons from employment to individual voters considering felony disenfranchisement laws, needs to understand how rational criminals act and think. This book will attempt to guide readers to such an understanding. By understanding how incentive mechanisms affect criminal behavior, business managers may use this information either to reduce criminal activity in their own enterprises or to understand how unethical business decisions affect the wider society. As we always do in such circumstances, we must make sacrifices to balance the competing interests.