This book is a great way to gain a comprehensive understanding of the European Union, from its inception to current times. It covers the Union's history, functioning and institutions, as well as its role beyond Europe. The updated edition covers the Lisbon treaty, the EU fiscal crisis, and the future of the Union. If you are interested in politics and international affairs, this book is a must-read.

Giddens's analysis of the writings of Marx, Durkheim and Weber has become the classic text for any student seeking to understand the three thinkers who established the basic framework of contemporary sociology. The first three sections of the book, based on close textual examination of the original sources, contain separate treatments of each writer. The author demonstrates the internal coherence of their respective contributions to social theory. The concluding section discusses the principal ways in which Marx can be compared with the other two authors, and discusses misconceptions of some conventional views on the subject.

Recommended for readers interested in understanding the diverse economic systems of late twentieth century, and how they differ. This book provides a framework for describing and explaining the variations in economic organization, and identifies six types of business systems linked to different institutional arrangements. It also analyses the East Asian business systems and how they are changing in the 1990s, and provides a comparison with the new capitalisms emerging in Eastern Europe.

For fifty-five years, the United States and Saudi Arabia were solid partners. Then came the 9/11 attacks, which sorely tested that relationship. In Thicker than Oil , Rachel Bronson reveals why the partnership became so intimate and how the countries' shared interests sowed the seeds oftoday's most pressing problem--Islamic radicalism.Drawing on a wide range of archival material, declassified documents, and interviews with leading Saudi and American officials, Bronson chronicles a history of close, and always controversial, contacts. She argues that contrary to popular belief the relationship was never simply about "oilfor security." Saudi Arabia's geographic location and religiously motivated foreign policy figured prominently in American efforts to defeat "godless communism." From Africa to Afghanistan, Egypt to Nicaragua, the two worked to beat back Soviet expansion. But decisions made for hardheaded ColdWar purposes left behind a legacy that today enflames the Middle East.In this landmark work, Bronson exposes the political calculations that drove this secretive relationship. Her lively narrative is interwoven with colorful stories of diplomatic adventures and misadventures--including details of high-level backchannel conversations, awkward cross-culturalencounters, and a bizarre American request for the Saudi government to subsidize Polish pork exports, a demand the U.S. Ambassador refused to deliver. Looking forward, she outlines the challenges confronting the relationship. The Saudi government faces a zealous internal opposition bent onAmerica's and Saudi Arabia's destruction. Yet from the perspective of both countries, the status quo is clearly unsustainable. This book shows how this crucial relationship evolved, and suggests ways to chart its future course.

Getting inside the heads of the developing world’s dictators, warlords, and corrupt politiciansMeet the economic gangster. He's the United Nations diplomat who double-parks his Mercedes on New York City streets at rush hour because the cops can't touch him―he has diplomatic immunity. He's the Chinese smuggler who dodges tariffs by magically transforming frozen chickens into frozen turkeys. The dictator, the warlord, the unscrupulous bureaucrat who bilks the developing world of billions in aid. The calculating crook who views stealing and murder as just another part of his business strategy. And, in the wrong set of circumstances, he might just be you.In Economic Gangsters , Raymond Fisman and Edward Miguel take readers into the secretive, chaotic, and brutal worlds inhabited by these lawless and violent thugs. Join these two sleuthing economists as they follow the foreign aid money trail into the grasping hands of corrupt governments and shady underworld characters. Spend time with ingenious black marketeers as they game the international system. Follow the steep rise and fall of stock prices of companies with unseemly connections to Indonesia's former dictator. See for yourself what rainfall has to do with witch killings in Tanzania―and more.Fisman and Miguel use economics to get inside the heads of these "gangsters," and propose solutions that can make a difference to the world's poor―including cash infusions to defuse violence in times of drought, and steering the World Bank away from aid programs most susceptible to corruption.In a new postscript, the authors look at how economists might use new tools to better understand, and fight back against, corruption and violence in the aftermath of the 2008 financial crisis. Take an entertaining walk on the dark side of global economic development with Economic Gangsters .

This is the classic work upon which modern-day game theory is based. What began more than sixty years ago as a modest proposal that a mathematician and an economist write a short paper together blossomed, in 1944, when Princeton University Press published Theory of Games and Economic Behavior . In it, John von Neumann and Oskar Morgenstern conceived a groundbreaking mathematical theory of economic and social organization, based on a theory of games of strategy. Not only would this revolutionize economics, but the entirely new field of scientific inquiry it yielded--game theory--has since been widely used to analyze a host of real-world phenomena from arms races to optimal policy choices of presidential candidates, from vaccination policy to major league baseball salary negotiations. And it is today established throughout both the social sciences and a wide range of other sciences.This sixtieth anniversary edition includes not only the original text but also an introduction by Harold Kuhn, an afterword by Ariel Rubinstein, and reviews and articles on the book that appeared at the time of its original publication in the New York Times , tthe American Economic Review , and a variety of other publications. Together, these writings provide readers a matchless opportunity to more fully appreciate a work whose influence will yet resound for generations to come.

Collected here in a single volume for the first time are John Stuart Mill's On Liberty, Utilitarianism, Considerations on Representative Governmen t, and The Subjection of Women . These essays show Mill applying his liberal utilitarian philosophy to a range of issues that remain vitaltoday--the nature of ethics, the scope and limits of individual liberty, the merits of and costs of democratic government, and the place of women in society. In his Introduction John Gray describes these essays as applications of Mill's doctrine of the Art of Life , as set out in A System ofLogic . Using the resources of recent scholarship, he shows Mill's work to be far richer and subtler than traditional interpretations allow.About the Series: For over 100 years Oxford World's Classics has made available the broadest spectrum of literature from around the globe. Each affordable volume reflects Oxford's commitment to scholarship, providing the most accurate text plus a wealth of other valuable features, including expertintroductions by leading authorities, voluminous notes to clarify the text, up-to-date bibliographies for further study, and much more.

A profoundly original vision of an attainable future that ensures human prosperity by safeguarding our threatened planet “If you have time to read one book on this subject, I highly recommend the new Big World, Small Planet , by Johan Rockström , director of the Stockholm Resilience Center, and Mattias Klum, whose stunning photographs of ecosystem disruptions reinforce the urgency of the moment.”—Thomas L. Friedman, New York Times Big World, Small Planet probes the urgent predicament of our How is it possible to create a positive future for both humanity and Earth? We have entered the Anthropocene—the era of massive human impacts on the planet—and the actions of more than seven billion residents threaten to destabilize Earth’s natural systems, with cascading consequences for human societies. In this extraordinary book, the authors combine the latest science with compelling storytelling and amazing photography to create a new narrative for humanity’s future. Johan Rockström and Mattias Klum reject the notion that economic growth and human prosperity can only be achieved at the expense of the environment. They contend that we have unprecedented opportunities to navigate a “good Anthropocene.” By embracing a deep mind-shift, humanity can reconnect to Earth, discover universal values, and take on the essential role of planetary steward. With eloquence and profound optimism, Rockström and Klum envision a future of abundance within planetary boundaries—a revolutionary future that is at once necessary, possible, and sustainable for coming generations.

Raghuram Rajan was one of the few economists who warned of the global financial crisis before it hit. Now, as the world struggles to recover, it's tempting to blame what happened on just a few greedy bankers who took irrational risks and left the rest of us to foot the bill. In "Fault Lines," Rajan argues that serious flaws in the economy are also to blame, and warns that a potentially more devastating crisis awaits us if they aren't fixed.Rajan shows how the individual choices that collectively brought about the economic meltdown--made by bankers, government officials, and ordinary homeowners--were rational responses to a flawed global financial order in which the incentives to take on risk are incredibly out of step with the dangers those risks pose. He traces the deepening fault lines in a world overly dependent on the indebted American consumer to power global economic growth and stave off global downturns. He exposes a system where America's growing inequality and thin social safety net create tremendous political pressure to encourage easy credit and keep job creation robust, no matter what the consequences to the economy's long-term health; and where the U.S. financial sector, with its skewed incentives, is the critical but unstable link between an overstimulated America and an underconsuming world.In "Fault Lines," Rajan demonstrates how unequal access to education and health care in the United States puts us all in deeper financial peril, even as the economic choices of countries like Germany, Japan, and China place an undue burden on America to get its policies right. He outlines the hard choices we need to make to ensure a more stable world economy and restore lasting prosperity.

This book is ideal for anyone interested in understanding the intricacies of strategic thinking and conflict resolution. Schelling proposes a new way of looking at negotiations, war, and criminal deterrence, showing enlightening similarities between these seemingly disparate situations. This book offers insights into human psychology and helps readers understand why we behave the way we do in certain situations, making it a must-read for anyone looking to improve their negotiation skills or enhance their knowledge of game theory.

One of Wall Street's most creative and influential minds offers provocative new ways of thinking about the stock market, investing, and how we make decisions.

If you're delving into organization studies or managing any kind of business, "The External Control of Organizations" could be invaluable for you. It's not just about theories; it's about practical understanding of how organizations really operate within their environments. The book is a touchstone in the field that'll give you a perspective shift on how you see these entities interact with the world around them. With its blend of foundational knowledge and contemporary insights, it's a read that could shift how you approach organizational management.

Compulsory ujamaa villages in Tanzania, collectivization in Russia, Le Corbusier’s urban planning theory realized in Brasilia, the Great Leap Forward in China, agricultural "modernization" in the Tropics—the twentieth century has been racked by grand utopian schemes that have inadvertently brought death and disruption to millions. Why do well-intentioned plans for improving the human condition go tragically awry?In this wide-ranging and original book, James C. Scott analyzes failed cases of large-scale authoritarian plans in a variety of fields. Centrally managed social plans misfire, Scott argues, when they impose schematic visions that do violence to complex interdependencies that are not—and cannot—be fully understood. Further, the success of designs for social organization depends upon the recognition that local, practical knowledge is as important as formal, epistemic knowledge. The author builds a persuasive case against "development theory" and imperialistic state planning that disregards the values, desires, and objections of its subjects. He identifies and discusses four conditions common to all planning disasters: administrative ordering of nature and society by the state; a "high-modernist ideology" that places confidence in the ability of science to improve every aspect of human life; a willingness to use authoritarian state power to effect large- scale interventions; and a prostrate civil society that cannot effectively resist such plans.

This book about China's integration into the world economy proposes a radically different perspective. Most economists view China's large foreign direct investment (FDI) inflows as the result of China's economic success. This study views the same phenomenon as a function of the imperfections in the Chinese economic system. It uses economic theory to explain FDI to a greater extent than previous studies on the same topic. It also presents comparative FDI data of additional countries, making it more comprehensive than previous studies which focused only on China.

If you're both intrigued and perhaps a bit concerned about how AI and technology will reshape the job landscape, "The Future of the Professions" is a crucial read. It's not just speculation; the Susskinds back their views with solid research across various fields, making it a thought-provoking analysis for anyone interested in the intersection of work, technology, and society. This book might change how you view your job's future, and it's a fascinating roadmap of what to expect as we tread into an increasingly automated world.

This book is a must-read for anyone who wants to understand the recurring patterns of financial crises throughout history. Carmen Reinhart and Kenneth Rogoff take us on a journey through eight centuries of financial folly, debunking the notion that "this time is different". Their groundbreaking research and comprehensive data reveal the alarming consistency in the frequency, duration, and intensity of financial crises. With clear analysis and insightful lessons from history, this book is an eye-opening exploration of the universal rites of passage for emerging and established market nations. It will forever change how you perceive the world of finance and its powerful impact on our lives.

A comprehensive new edition of Economics for the IB Diploma. This lively textbook, available in both print and e-book formats, offers comprehensive coverage of the Economics syllabus for the International Baccalaureate (IB) Diploma at both Standard and Higher Levels. This new edition is written by a highly experienced author and former IB Economics Chief Examiner and has been extensively revised to meet the requirements of the new syllabus (effective 2011). The print book includes a CD-ROM of supplementary materials including a chapter on quantitative techniques and extensive exam practice. These supplementary materials are also included in the e-book version for an all-in-one solution.

This Economics Study Guide is a comprehensive and concise resource that covers all the topics necessary for success in the IB Economics Diploma Programme. With a particular focus on graph analysis and a new section on quantitative material, this guide provides students with the tools they need to excel in the new mathematical elements of the course. The straightforward language, summary tables, and extensive glossary make it an ideal study companion for both Higher and Standard level students. Engage with the theory and master the concepts with this invaluable study guide.

Revising and continuing the idea of justice and fairness in A Theory of Justice, Rawls poses the question of how a stable and just society of free and equal citizens can live in concord when deeply divided by reasonable and incompatible doctrines. With its distinctive form of liberalism----resting on an idea of free public reason---- Political Liberalism yields new insights into the question of justice in our pluralistic society.

Building on the success of previous editions, Economics, Twelfth Edition, has been thoroughly updated and revised. Rigorous yet also accessible to beginners, it provides comprehensive coverage of both introductory macroeconomics and microeconomics. The authors balance in-depth explanations ofkey theoretical concepts with a wide range of real-world examples drawn from around the globe. They incorporate numerous pedagogical features including highlighted definitions of economic terms, short revision questions, and updated end-of-chapter questions.New to this * Incorporates full coverage of the 2008 banking crisis and recession, featuring revised sections on banking, the financial system, and fiscal policy* Integrates a broad range of international applied examples, including the cost of climate change, celebrity earnings, and global imbalances in the economy* Includes more end-of-chapter questionsAn updated and expanded Companion Website contains resources for students and For * Self-test questions* Interactive chapters* Web links* Flashcard glossary* Author's blogFor * Figures from the text* Instructor's Manual* Animated PowerPoint-based slides* Test bank

This book is a perfect fit for anyone interested in understanding the mathematical concepts underlying economics and finance. With clear explanations and relatable examples, it takes you on a journey from basic graphs to complex matrix algebra, all with a focus on real-life applications. Whether you're a beginner or have some prior knowledge, this book will help you grasp the fundamentals and build a strong foundation in mathematical modeling for economics and finance. You'll feel confident tackling optimization problems and analyzing economic relationships in no time.

Witztum's text is a robust and challenging introduction to the key principles of economics. It delivers a comprehensive and focused view of the logical core of economic analysis. Presented in a clear and accessible form, the content is nonetheless sufficiently developed to take students beyond mere fundamentals, teaching them to apply economic theories and models to recognisable, real life examples. The book is therefore able to prepare students for further study of economics rather than to simply acquaint them with basic concepts.

The approach of this text for upper-level undergraduates is to teach monetary economics using the classical paradigm of rational agents in a market setting. By teaching from first principles, the authors aim to instruct students not only in the monetary policies and institutions that exist today in the United States but also in what policies and institutions may or should exist tomorrow and elsewhere. The text builds on a simple, clear monetary model and applies this framework consistently to a wide variety of monetary questions. The authors have added in this second edition new material on speculative attacks on currencies, social security, currency boards, central banking alternatives, the payments system, and the Lucas model of price surprises. Discussions of many topics have been extended, presentations of data greatly expanded, and new exercises added.

Offering a complete analysis of antitrust (or competition policy) issues, this study is enhanced by frequent references to antitrust cases and a few fully developed case studies. Although it can be used as an economics textbook in graduate or advanced undergraduate courses, the book is equally accessible to lawyers, practitioners, and readers interested in antitrust issues, but unfamiliar with modern economics. Technical explanations of material are relegated to separate "technical" sections that can be skipped without losing continuity.

The takeover boom that began in the mid-1980s has exhibited many phenomena not previously observed, such as hostile takeovers and takeover defenses, a widespread use of cash as a means of payment for targeted firms, and the acquisitions of companies ranking among the largest in the country. With the aim of more fully understanding the implications of such occurances, contributors to this volume consider a broad range of issues as they analyze mergers and acquisitions and study the takeoveer process itself.

The guide explains, in a straightforward, jargon-free style, the pros and cons of turning private businesses into listed companies.

A guide to the early decisions that can make or break startup venturesOften downplayed in the excitement of starting up a new business venture is one of the most important decisions entrepreneurs will face: should they go it alone, or bring in cofounders, hires, and investors to help build the business? More than just financial rewards are at stake. Friendships and relationships can suffer. Bad decisions at the inception of a promising venture lay the foundations for its eventual ruin. The Founder's Dilemmas is the first book to examine the early decisions by entrepreneurs that can make or break a startup and its team.Drawing on a decade of research, Noam Wasserman reveals the common pitfalls founders face and how to avoid them. He looks at whether it is a good idea to cofound with friends or relatives, how and when to split the equity within the founding team, and how to recognize when a successful founder-CEO should exit or be fired. Wasserman explains how to anticipate, avoid, or recover from disastrous mistakes that can splinter a founding team, strip founders of control, and leave founders without a financial payoff for their hard work and innovative ideas. He highlights the need at each step to strike a careful balance between controlling the startup and attracting the best resources to grow it, and demonstrates why the easy short-term choice is often the most perilous in the long term.The Founder's Dilemmas draws on the inside stories of founders like Evan Williams of Twitter and Tim Westergren of Pandora, while mining quantitative data on almost ten thousand founders.People problems are the leading cause of failure in startups. This book offers solutions.

This powerful work of gonzo journalism, predating the widespread acknowledgement of the opioid epidemic as such, immerses the reader in the world of homelessness and drug and alcohol abuse in the contemporary United States. For over a decade Philippe Bourgois and Jeff Schonberg followed a social network of two dozen heroin injectors and crack smokers in the San Francisco drug scene, accompanying them as they scrambled to generate income through burglary, larceny, panhandling, recycling, and day labor. Righteous Dopefiend interweaves stunning black-and-white photography with vivid dialogue, oral biography, detailed field notes, and critical theoretical analysis to viscerally illustrate the life of a drug addict. Its gripping narrative develops a cast of characters around the themes of violence, racism and race relations, sexuality, trauma, embodied suffering, social inequality, and power relations. The result is a dispassionate chronicle of fixes and overdoses; of survival, loss, caring, and hope rooted in the drug abusers’ determination to hang on for one more day, through a "moral economy of sharing" that precariously balances mutual solidarity and interpersonal betrayal.

A systematic, critical examination of Karl Marx's social theories and their philosophical presuppositions. Through extensive discussions of the texts Jon Elster offers a balanced and detailed account of Marx's views that is at once sympathetic, undogmatic and rigorous. Equally importantly he tries to assess 'what is living and what is dead in the philosophy of Marx', using the analytical resources of contemporary social science and philosophy. Professor Elster insists on the need for microfoundations in social science and provides a systematic criticism of functionalism and teleological thinking in Marx. He argues that Marx's economic theories are largely wrong or irrelevant; historical materialism is seen to have only limited plausibility (and is not even consistently applied by Marx); Marx's most lasting achievements are the criticism of capitalism in terms of alienation and exploitation and the theory of class struggle, politics and ideology under capitalism, though in these areas too Elster enters substantial qualifications. The book should take its place as the most comprehensive and sophisticated modern study available.

Billions of dollars stolen from citizens are circling the globe, enriching powerful individuals, altering political outcomes, and disadvantaging everyday people. News headlines provide glimpses of how this corruption works and why it President Trump's businesses struck deals with oligarchs and sold property to secretive shell companies; the Panama Papers leak triggered investigations in 79 countries; and, corruption scandals toppled heads of state in Brazil, South Africa, and South Korea. But how do these pieces fit together? And if the corruption is so vast and so tied up with powerful interests, how do we begin to fight back?To find answers, Crude Intentions examines the corruption crisis that erupted during the recent oil boom. From 2008 to 2014, oil prices shot through the roof. Motivated by more than nine trillion dollars in new oil money, corruption followed apace. Examining the oil boom is like placing a drop of dye in the circulatory system of global corruption, and watching as it reveals the system's channels and pathways.Company bosses signed off on risky schemes to snap up choice oil blocks. Politicians in Brazil and Nigeria stole billions to build up their election war chests. Kleptocrats in Angola, Azerbaijan, and Russia seized upon the oil wealth to cement their hold on power. And an army of bankers, accountants, and lawyers lined up to help these corrupt actors stash their loot in the global system of shell companies and tax havens that serves today's super-rich. The money then bought yachts, mansions, and even a few foreign politicians.Drawing on information exposed by intrepid journalists, prosecutors, and whistle blowers, Crude Intentions tells jaw-dropping stories of corruption and asks what we can learn from them. The cases reveal common tactics, but also vulnerabilities in this web of fraud. These are the starting points for building a smarter fight against corruption, in the oil sector and well beyond.

The Chinese and U.S. economies have been locked in an uncomfortable embrace since the late 1970s. Although the relationship initially arose out of mutual benefits, in recent years it has taken on the trappings of an unstable codependence, with the two largest economies in the world losing their sense of self, increasing the risk of their turning on one another in a destructive fashion.   In The Codependency of America and China Stephen Roach, senior fellow at Yale University and former chairman of Morgan Stanley Asia, lays bare the pitfalls of the current China-U.S. economic relationship. He highlights the conflicts at the center of current tensions, including disputes over trade policies and intellectual property rights, sharp contrasts in leadership styles, the role of the Internet, the recent dispute over cyberhacking, and more. A firsthand witness to the Asian financial crisis of the late 1990s, Roach likely knows more about the U.S.-China economic relationship than any other Westerner. Here he    In the wake of the 2008 crisis, both unbalanced economies face urgent and mutually beneficial rebalancings. Unbalanced concludes with a recipe for resolving the escalating tensions of codependence. Roach argues that the Next China offers much for the Next America—and vice versa.

The end of our high-growth world was underway well before COVID-19 arrived. In this powerful and timely argument, Danny Dorling demonstrates the benefits of a larger, ongoing societal slowdown Drawing from an incredibly rich trove of global data, this groundbreaking book reveals that human progress has been slowing down since the early 1970s. Danny Dorling uses compelling visualizations to illustrate how fertility rates, growth in GDP per person, and even the frequency of new social movements have all steadily declined over the last few generations.   Perhaps most surprising of all is the fact that even as new technologies frequently reshape our everyday lives and are widely believed to be propelling our civilization into new and uncharted waters, the rate of technological progress is also rapidly dropping. Rather than lament this turn of events, Dorling embraces it as a moment of promise and a move toward stability, and he notes that many of the older great strides in progress that have defined recent history also brought with them widespread warfare, divided societies, and massive inequality.

Featuring carefully edited contributions from an impressive line-up of international scholars, Global Political Economy, Second Edition, is an authoritative introduction that covers all contemporary theory, introductions to particular issue areas, and an extended debate on globalizationthat reflects a variety of perspectives. The second edition includes a new chapter on theoretical traditions (Chapter 2) and a broader introduction to production and multinational corporations in Chapter 10. A companion website features an interactive timeline, web links, a flashcard glossary, andmaps for students, as well as two in-depth case studies for professors.

How poor countries can ignite economic growth without waiting for global action or the creation of ideal local conditionsContrary to conventional wisdom, countries that ignite a process of rapid economic growth almost always do so while lacking what experts say are the essential preconditions for development, such as good infrastructure and institutions. In Beating the Odds , two of the world's leading development economists begin with this paradox to explain what is wrong with mainstream development thinking―and to offer a practical blueprint for moving poor countries out of the low-income trap regardless of their circumstances.Justin Yifu Lin, the former chief economist of the World Bank, and Célestin Monga, the chief economist of the African Development Bank, propose a development strategy that encourages poor countries to leap directly into the global economy by building industrial parks and export-processing zones linked to global markets. Countries can leverage these zones to attract light manufacturing from more advanced economies, as East Asian countries did in the 1960s and China did in the 1980s. By attracting foreign investment and firms, poor countries can improve their trade logistics, increase the knowledge and skills of local entrepreneurs, gain the confidence of international buyers, and gradually make local firms competitive. This strategy is already being used with great success in Vietnam, Cambodia, Bangladesh, Mauritius, Ethiopia, Rwanda, and other countries. And the strategy need not be limited to traditional manufacturing but can also include agriculture, the service sector, and other activities.Beating the Odds shows how poor countries can ignite growth without waiting for global action or the creation of ideal local conditions.

This book is a valuable resource for anyone interested in learning about the India-Japan relationship and how to strengthen it further. The book covers a wide range of topics such as trade, investment, energy security, and global governance. The contributors offer insightful perspectives on their respective countries' interests, achievements, obstacles and propose concrete policies to ensure a lasting partnership. The book is a must-read for policymakers from both sides and anyone interested in the future of Asia.

Why have so many firms in emerging economies internationalized quite aggressively in the last decade? What competitive advantages do these firms enjoy and what are the origins of those advantages? Through what strategies have they built their global presence? How is their internationalization affecting Western rivals? And, finally, what does all this mean for mainstream international business theory? In Emerging Multinationals in Emerging Markets, a distinguished group of international business scholars tackle these questions based on a shared research design. The heart of the book contains detailed studies of emerging-market multinationals (EMNEs) from the BRIC economies, plus Israel, Mexico, South Africa, and Thailand. The studies show that EMNEs come in many shapes and sizes, depending on the home-country context. Furthermore, EMNEs leverage distinctive competitive advantages and pursue distinctive internationalization paths. This timely analysis of EMNEs promises to enrich mainstream models of how firms internationalize in today's global economy.

Few historical issues have occasioned such discussion since at least the time of Marx as the transition from feudalism to capitalism in Western Europe. The Brenner Debate, which reprints from Past and Present various article in 1976, is a scholarly presentation of a variety of points of view, covering a very wide range in time, place and type of approach. Weighty theoretical responses to Brenner's first formulation followed from the late Sir Michael Postan, John Hatcher, Emmanuel Le Roy Ladurie and Guy Bois; more particular contributions came from Patricia Croot, David Parker, Arnost Klìma and Heide Wunder on England, France, Bohemia and Germany; and reflective pieces from R. H. Hilton and the late J. P. Cooper. Completing the volume, and giving it an overall coherence, are Brenner's own comprehensive response to those who had taken part in the debate, and also R. H. Hilton's introduction that aims to bring together the major themes in the collection of essays. The debate has already aroused widespread interest among historians and scholars in allied fields as well as among ordinary readers, and may reasonably be regarded as one of the most important historical debates of prevailing years.

A new, evolutionary explanation of markets and investor behaviorHalf of all Americans have money in the stock market, yet economists can't agree on whether investors and markets are rational and efficient, as modern financial theory assumes, or irrational and inefficient, as behavioral economists believe--and as financial bubbles, crashes, and crises suggest. This is one of the biggest debates in economics and the value or futility of investment management and financial regulation hang on the outcome. In this groundbreaking book, Andrew Lo cuts through this debate with a new framework, the Adaptive Markets Hypothesis, in which rationality and irrationality coexist.Drawing on psychology, evolutionary biology, neuroscience, artificial intelligence, and other fields, Adaptive Markets shows that the theory of market efficiency isn't wrong but merely incomplete. When markets are unstable, investors react instinctively, creating inefficiencies for others to exploit. Lo's new paradigm explains how financial evolution shapes behavior and markets at the speed of thought--a fact revealed by swings between stability and crisis, profit and loss, and innovation and regulation.A fascinating intellectual journey filled with compelling stories, Adaptive Markets starts with the origins of market efficiency and its failures, turns to the foundations of investor behavior, and concludes with practical implications--including how hedge funds have become the Galapagos Islands of finance, what really happened in the 2008 meltdown, and how we might avoid future crises.An ambitious new answer to fundamental questions in economics, Adaptive Markets is essential reading for anyone who wants to know how markets really work.

This essay is a foray into the debatable borderland between history, technology and economics. On the history of technical processes there exist several works, pre-eminent among them the great five-volumed History of Technology. But few historians of technology have shown interest in the models of the economists; and the theorists have concentrated on analysis or on problems of contemporary technology. The present work is an attempt to re-examine some of the more familiar nineteenth-century developments in technology. It originated in lectures given at Columbia University in the autumn of 1958.

Economics has much to do with incentives--not least, incentives to work hard, to produce quality products, to study, to invest, and to save. Although Adam Smith amply confirmed this more than two hundred years ago in his analysis of sharecropping contracts, only in recent decades has a theory begun to emerge to place the topic at the heart of economic thinking. In this book, Jean-Jacques Laffont and David Martimort present the most thorough yet accessible introduction to incentives theory to date. Central to this theory is a simple question as pivotal to modern-day management as it is to economics What makes people act in a particular way in an economic or business situation? In seeking an answer, the authors provide the methodological tools to design institutions that can ensure good incentives for economic agents.This book focuses on the principal-agent model, the "simple" situation where a principal, or company, delegates a task to a single agent through a contract--the essence of management and contract theory. How does the owner or manager of a firm align the objectives of its various members to maximize profits? Following a brief historical overview showing how the problem of incentives has come to the fore in the past two centuries, the authors devote the bulk of their work to exploring principal-agent models and various extensions thereof in light of three types of information adverse selection, moral hazard, and non-verifiability. Offering an unprecedented look at a subject vital to industrial organization, labor economics, and behavioral economics, this book is set to become the definitive resource for students, researchers, and others who might find themselves pondering what contracts, and the incentives they embody, are really all about.

Cover faded and worn, page edges tanned. Shipped from the U.K. All orders received before 3pm sent that weekday.

After a half-century of glacial creep, television technology has begun to change at the same dizzying pace as computer software. What this will mean--for television, for computers, and for the popular culture where these video media reign supreme--is the subject of this timely book. A noted communications economist, Bruce Owen supplies the essential a grasp of the economic history of the television industry and of the effects of technology and government regulation on its organization. He also explores recent developments associated with the growth of the Internet. With this history as a basis, his book allows readers to peer into the future--at the likely effects of television and the Internet on each other, for instance, and at the possibility of a convergence of the TV set, computer, and telephone. The digital world that Owen shows us is one in which communication titans jockey to survive what Joseph Schumpeter called the "gales of creative destruction." While the rest of us simply struggle to follow the new moves, believing that technology will settle the outcome, Owen warns us that this is a game in which Washington regulators and media hyperbole figure as broadly as innovation and investment. His book explains the game as one involving interactions among all the players, including consumers and advertisers, each with a particular goal. And he discusses the economic principles that govern this game and that can serve as powerful predictive tools.

This book develops an original theory of group and organizational behavior that cuts across disciplinary lines and illustrates the theory with empirical and historical studies of particular organizations. Applying economic analysis to the subjects of the political scientist, sociologist, and economist, Mancur Olson examines the extent to which the individuals that share a common interest find it in their individual interest to bear the costs of the organizational effort.The theory shows that most organizations produce what the economist calls “public goods”―goods or services that are available to every member, whether or not he has borne any of the costs of providing them. Economists have long understood that defense, law, and order were public goods that could not be marketed to individuals, and that taxation was necessary. They have not, however, taken account of the fact that private as well as governmental organizations produce public goods.The services the labor union provides for the worker it represents, or the benefits a lobby obtains for the group it represents, are public they automatically go to every individual in the group, whether or not he helped bear the costs. It follows that, just as governments require compulsory taxation, many large private organizations require special (and sometimes coercive) devices to obtain the resources they need. This is not true of smaller organizations for, as this book shows, small and large organizations support themselves in entirely different ways. The theory indicates that, though small groups can act to further their interest much more easily than large ones, they will tend to devote too few resources to the satisfaction of their common interests, and that there is a surprising tendency for the “lesser” members of the small group to exploit the “greater” members by making them bear a disproportionate share of the burden of any group action.All of the theory in the book is in Chapter 1; the remaining chapters contain empirical and historical evidence of the theory’s relevance to labor unions, pressure groups, corporations, and Marxian class action.

This major new book by one of America's preeminent legal theorists is concerned with the conflict between the goals of justice and economic efficiency in the allocation of risk, especially risk pertaining to safety. The author approaches his subject from the premise that the market is central to liberal political, moral, and legal theory. In the first part of the book, he rejects traditional 'rational choice' liberalism in favor of the view that the market operates as a rational way of fostering stable relationships and institutions within communities of individuals with broadly divergent conceptions of the good. However, markets are needed most where they are most difficult to create and sustain, and one way to understand contract law in liberal legal theory, according to Professor Coleman, is as an institution designed to reduce uncertainty and thereby make markets possible.

This is a new revised version of Dr. Laslett's standard edition of Two Treatises. First published in 1960, and based on an analysis of the whole body of Locke's publications, writings, and papers. The Introduction and text have been revised to incorporate references to recent scholarship since the second edition and the bibliography has been updated.

Hard-hitting recommendations for what must be done to manage global natural capital and reverse environmental destructionNatural capital is what nature provides to us for free. Renewables—like species—keep on coming, provided we do not drive them towards extinction. Non-renewables—like oil and gas—can only be used once. Together, they are the foundation that ensures our survival and well-being, and the basis of all economic activity. In the face of the global, local, and national destruction of biodiversity and ecosystems, economist Dieter Helm here offers a crucial set of strategies for establishing natural capital policy that is balanced, economically sustainable, and politically viable. Helm shows why the commonly held view that environmental protection poses obstacles to economic progress is false, and he explains why the environment must be at the very core of economic planning. He presents the first real attempt to calibrate, measure, and value natural capital from an economic perspective and goes on to outline a stable new framework for sustainable growth. Bristling with ideas of immediate global relevance, Helm’s book shifts the parameters of current environmental debate. As inspiring as his trailblazing The Carbon Crunch , this volume will be essential reading for anyone concerned with reversing the headlong destruction of our environment.

What causes poverty? Are economic crises inevitable under capitalism? Is government intervention in an economy a helpful approach or a disastrous idea? The answers to such basic economic questions matter to everyone, yet the unfamiliar jargon and math of economics can seem daunting. This clear, accessible, and even humorous book is ideal for young readers new to economics and for all readers who seek a better understanding of the full sweep of economic history and ideas. Economic historian Niall Kishtainy organizes short, chronological chapters that center on big ideas and events. He recounts the contributions of key thinkers including Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and others, while examining topics ranging from the invention of money and the rise of agrarianism to the Great Depression, entrepreneurship, environmental destruction, inequality, and behavioral economics. The result is a uniquely enjoyable volume that succeeds in illuminating the economic ideas and forces that shape our world.