The Economy

Economics for a Changing World
Author: Core Team,Oxford University Press
Publisher: Oxford University Press, USA
ISBN: 9780198810247
Category: Economics
Page: 1000
View: 8899

Continue Reading →

The only introductory economics text to equip students to address today's pressing problems by mastering the conceptual and quantitative tools of contemporary economics. OUP has partnered with the international collaborative project of CORE researchers and teachers to bring students a book andlearning system that complements and enhances CORE's open-access online e-book.The Economy is a new approach that integrates recent developments in economics including contract theory, strategic interaction, behavioural economics and financial instability. It challenges students to address inequality, climate change, economic instability, wealth creation and innovation andother problems. It has been adopted as the standard principles course at University College London, Sciences Po Paris and the Toulouse School of Economics.A new economics for the principles course The Economy begins with social interactions using elementary game theory and institutions modelled as rules of the game. This provides the basis for a modern treatment of markets including price-making as well as price-taking, the exercise of power, and the importance of social norms and adjustmentto disequilibria. Introducing labour and credit markets with incomplete contracts allows a consistent treatment of aggregate employment and fluctuations without the need for ad hoc sticky price and wage assumptions. Banks create money by extending credit and a central bank seeks to implement a target inflation rate. Growth and instability are illustrated from the Great Depression, through the post-war golden age of capitalism through to the financial crisis and ensuing uncertainties. Students acquire an understanding of the past and current evolution of the economy in its social and environmental context,equipping them to marshal evidence and articulate positions about contemporary policy issues.

Common Wealth

Economics for a Crowded Planet
Author: Jeffrey Sachs
Publisher: Penguin
ISBN: 9781594201271
Category: Business & Economics
Page: 386
View: 8783

Continue Reading →

Assessment of the environmental degradation, rapid population growth, and extreme poverty that threaten global peace and prosperity, with practical solutions based on a new economic paradigm for our crowded planet.

The Economics of Enough

How to Run the Economy as If the Future Matters
Author: Diane Coyle
Publisher: Princeton University Press
ISBN: 9781400838110
Category: Business & Economics
Page: 336
View: 414

Continue Reading →

The world's leading economies are facing not just one but many crises. The financial meltdown may not be over, climate change threatens major global disruption, economic inequality has reached extremes not seen for a century, and government and business are widely distrusted. At the same time, many people regret the consumerism and social corrosion of modern life. What these crises have in common, Diane Coyle argues, is a reckless disregard for the future--especially in the way the economy is run. How can we achieve the financial growth we need today without sacrificing a decent future for our children, our societies, and our planet? How can we realize what Coyle calls "the Economics of Enough"? Running the economy for tomorrow as well as today will require a wide range of policy changes. The top priority must be ensuring that we get a true picture of long-term economic prospects, with the development of official statistics on national wealth in its broadest sense, including natural and human resources. Saving and investment will need to be encouraged over current consumption. Above all, governments will need to engage citizens in a process of debate about the difficult choices that lie ahead and rebuild a shared commitment to the future of our societies. Creating a sustainable economy--having enough to be happy without cheating the future--won't be easy. But The Economics of Enough starts a profoundly important conversation about how we can begin--and the first steps we need to take.

Humanizing the Economy

Co-operatives in the Age of Capital
Author: John Restakis
Publisher: New Society Publishers
ISBN: 086571651X
Category: Business & Economics
Page: 288
View: 2577

Continue Reading →

How the largest social movement in history is making the world a better place.

Animal Spirits

How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism
Author: George A. Akerlof,Robert J. Shiller
Publisher: Princeton University Press
ISBN: 9781400834723
Category: Business & Economics
Page: 264
View: 4685

Continue Reading →

The global financial crisis has made it painfully clear that powerful psychological forces are imperiling the wealth of nations today. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, "animal spirits" are driving financial events worldwide. In this book, acclaimed economists George Akerlof and Robert Shiller challenge the economic wisdom that got us into this mess, and put forward a bold new vision that will transform economics and restore prosperity. Akerlof and Shiller reassert the necessity of an active government role in economic policymaking by recovering the idea of animal spirits, a term John Maynard Keynes used to describe the gloom and despondence that led to the Great Depression and the changing psychology that accompanied recovery. Like Keynes, Akerlof and Shiller know that managing these animal spirits requires the steady hand of government--simply allowing markets to work won't do it. In rebuilding the case for a more robust, behaviorally informed Keynesianism, they detail the most pervasive effects of animal spirits in contemporary economic life--such as confidence, fear, bad faith, corruption, a concern for fairness, and the stories we tell ourselves about our economic fortunes--and show how Reaganomics, Thatcherism, and the rational expectations revolution failed to account for them. Animal Spirits offers a road map for reversing the financial misfortunes besetting us today. Read it and learn how leaders can channel animal spirits--the powerful forces of human psychology that are afoot in the world economy today. In a new preface, they describe why our economic troubles may linger for some time--unless we are prepared to take further, decisive action.

Right Relationship

Building a Whole Earth Economy
Author: Peter G. Brown,Geoff Garver
Publisher: Berrett-Koehler Publishers
ISBN: 1609944518
Category: Business & Economics
Page: 192
View: 3016

Continue Reading →

Our current economic system—which assumes endless growth and limitless potential wealth—flies in the face of the fact that the earth’s resources are finite. The result is increasing destruction of the natural world and growing, sometimes lethal, tension between rich and poor, global north and south. Trying to fix problems piecemeal is not the solution. We need a comprehensive new vision of an economy that can serve people and all of life’s commonwealth. Peter G. Brown and Geoffrey Garver use the core Quaker principle of “right relationship”—interacting in a way that is respectful to all and that aids the common good—as the foundation for a new economic model. Right Relationship poses five basic questions: What is an economy for? How does it work? How big is too big? What’s fair? And how can it best be governed? Brown and Garver expose the antiquated, shortsighted, and downright dangerous assumptions that underlie our current answers to these questions, as well as the shortcomings of many current reform efforts. They propose new answers that combine an acute awareness of ecological limits with a fundamental focus on fairness and a concern with the spiritual, as well as material, well-being of the human race. Brown and Garver describe new forms of global governance that will be needed to get and keep the economy in right relationship. Individual citizens can and must play a part in bringing this relationship with life and the world into being. Ultimately the economy, as indeed life itself, is a series of interconnected relationships. An economy based on the idea of “right relationship” offers not only the promise of a bountiful future but also an opportunity to touch the fullness of human meaning and, some would say, the presence of the Divine.

Building a Healthy Economy from the Bottom Up

Harnessing Real-World Experience for Transformative Change
Author: Anthony Flaccavento
Publisher: University Press of Kentucky
ISBN: 0813167361
Category: Business & Economics
Page: 320
View: 6926

Continue Reading →

The global economy has witnessed important changes in recent years. In the United States, enterprising communities have transitioned from tobacco farming to growing organic produce, from extractive fishing to vertical farming, from nonrenewable energy consumption to the implementation of solar cooperatives -- and have transformed from impoverished neighborhoods into green development zones. Yet these promising achievements remain a small part of the total economy and are largely ignored by policy makers, pundits, and economists. In Building a Healthy Economy from the Bottom Up: Harnessing Real World Experience for Transformative Change, Anthony Flaccavento introduces readers to the innovators who are creating thriving, locally based economies and provides a road map for others who are interested in doing the same. He demonstrates that, despite the success of local initiatives like farmers' markets and clean energy cooperatives, true and lasting change of this type stalls without the appropriate discussion and implementation of public policies that define their lasting impact. He shows how active citizens can spur essential changes, generate community capital, increase civic dialogue, and foster sustainability efforts. Flaccavento skillfully combines economic analysis and public policy recommendations with practical solutions. His call to collective action will appeal to scholars, entrepreneurs, policymakers, community activists, environmentalists, and all citizens passionate about the health of their communities.

Eco-Economy

Building an Economy for the Earth
Author: Lester R. Brown
Publisher: Routledge
ISBN: 1134205260
Category: Business & Economics
Page: 352
View: 2021

Continue Reading →

In 1543, Polish astronomer Nicolaus Copernicus challenged the view that the sun revolved around the earth, arguing instead that the earth revolved around the sun. His paper led to a revolution in thinking. In Lester Brown's brilliant and invigorating account of the industrial economy, he shows how a rethink of its fossil fuel-based, throwaway ethos is necessary to ensure that it works with, not against, the natural environment. The issue now is whether the environment is part of the economy or the economy is part of the environment. Brown argues the latter, pointing out that treating the environment as part of the economy has produced an economy that is destroying its natural support systems. One of the foremost experts on the new economic opportunities, Brown shows the vast economic potential and environmental gains that exist from eliminating the waste and destruction of current consumption. He describes how the global economy can be restructured to make it compatible with the earth's ecosystem so that economic progress can continue, with high standards of living and secure employment for all, while conserving resources and restoring the environment. In the new economy, wind farms replace coal mines, hydrogen-powered fuel cells replace internal combustion engines, and cities are designed for people, not cars. Eco-Economy is a map of how to get from here to there. It is an essential guide to the economy of the 21st century and will be compelling reading for business readers and environmentalists alike looking for ways to build a better future.

Economics


Author: Paul A. Samuelson
Publisher: Tata McGraw-Hill Education
ISBN: 9780070700710
Category: Economics
Page: 915
View: 8790

Continue Reading →

Enough Is Enough

Building a Sustainable Economy in a World of Finite Resources
Author: Rob Dietz,Dan O'Neill
Publisher: Routledge
ISBN: 0415820936
Category: Business & Economics
Page: 240
View: 2968

Continue Reading →

This powerful book sets out arguments and an agenda of policy proposals for achieving a sustainable and prosperous, but non-growing economy, also known as a steady-state economy. Theauthorsdescribe a plan for solving the major social and environmental problems which face us today on a finite planetwith a rapidlygrowing population. They show how we have to find ways to reverse the environmental crises, while at the same time, we have to eradicate poverty and erase the divide between the haves and the have-nots. They argue that the economic orthodoxy...

A Farewell to Alms: A Brief Economic History of the World

A Brief Economic History of the World
Author: Gregory Clark
Publisher: Princeton University Press
ISBN: 9780691141282
Category: Business & Economics
Page: 432
View: 6380

Continue Reading →

Why are some parts of the world so rich and others so poor? Why did the Industrial Revolution--and the unprecedented economic growth that came with it--occur in eighteenth-century England, and not at some other time, or in some other place? Why didn't industrialization make the whole world rich--and why did it make large parts of the world even poorer? In A Farewell to Alms, Gregory Clark tackles these profound questions and suggests a new and provocative way in which culture--not exploitation, geography, or resources--explains the wealth, and the poverty, of nations. Countering the prevailing theory that the Industrial Revolution was sparked by the sudden development of stable political, legal, and economic institutions in seventeenth-century Europe, Clark shows that such institutions existed long before industrialization. He argues instead that these institutions gradually led to deep cultural changes by encouraging people to abandon hunter-gatherer instincts-violence, impatience, and economy of effort-and adopt economic habits-hard work, rationality, and education. The problem, Clark says, is that only societies that have long histories of settlement and security seem to develop the cultural characteristics and effective workforces that enable economic growth. For the many societies that have not enjoyed long periods of stability, industrialization has not been a blessing. Clark also dissects the notion, championed by Jared Diamond in Guns, Germs, and Steel, that natural endowments such as geography account for differences in the wealth of nations. A brilliant and sobering challenge to the idea that poor societies can be economically developed through outside intervention, A Farewell to Alms may change the way global economic history is understood.

Environmental Debt

The Hidden Costs of a Changing Global Economy
Author: Amy Larkin
Publisher: St. Martin's Press
ISBN: 1137361026
Category: Business & Economics
Page: 256
View: 5123

Continue Reading →

An award-winning environmental activist and social entrepreneur exposes the link between our financial and environmental crises For decades, politicians and business leaders alike told the American public that today's challenge was growing the economy, and that environmental protection could be left to future generations. Now in the wake of billions of dollars in costs associated with coastal devastation from Hurricane Sandy, rampant wildfires across the West, and groundwater contamination from reckless drilling, it's becoming increasingly clear that yesterday's carefree attitude about the environment has morphed into a fiscal crisis of epic proportions. Amy Larkin has been at the forefront of the fight for the environment for years, and in Environmental Debt she argues that the costs of global warming, extreme weather, pollution and other forms of "environmental debt" are wreaking havoc on the economy. Synthesizing complex ideas, she pulls back the curtain on some of the biggest cultural touchstones of the environmental debate, revealing how, for instance, despite coal's relative fame as a "cheap" energy source, ordinary Americans pay $350 billion a year for coal's damage in business related expenses, polluted watersheds, and in healthcare costs. And the problem stretches far beyond our borders: deforestation from twenty years ago in Thailand caused catastrophic flooding in 2011, and cost Toyota 3.4 percent of its annual production while causing tens of thousands of workers to lose jobs in three different countries. To combat these trends, Larkin proposes a new framework for 21st century commerce, based on three principles: 1) Pollution can no longer be free; 2) All business decision making and accounting must incorporate the long view; and 3) Government must play a vital role in catalyzing clean technology and growth while preventing environmental destruction. As companies and nations struggle to strategize in the face of global financial debt, many businesses have begun to recognize the causal relationship between a degraded environment and a degraded bottom line. Profiling the multinational corporations that are transforming their operations with downright radical initiatives, Larkin presents smart policy choices that would actually unleash these business solutions to many global financial and environmental problems. Provocative and hard-hitting, Environmental Debt sweeps aside the false choices of today's environmental debate, and shows how to revitalize the economy through nature's bounty.

Change Everything

Creating an Economy for the Common Good
Author: Christian Felber
Publisher: Zed Books Ltd.
ISBN: 1783604751
Category: Business & Economics
Page: 272
View: 570

Continue Reading →

Is it possible for businesses to have a bottom line that is not profit and endless growth, but human dignity, justice, sustainability and democracy? Or an alternative economic model that is untainted by the greed and crises of current financial systems? Christian Felber says it is. Moreover, in Change Everything he shows us how. The Economy for the Common Good is not just an idea, but has already become a broad international movement with thousands of people, hundreds of companies, and dozens of communities and organizations participating, developing and implementing it. Published in English for the first time, this is a remarkable blueprint for change that will profoundly influence debates on reshaping our economy for the future.

Change the Story, Change the Future

A Living Economy for a Living Earth
Author: David C. Korten
Publisher: Berrett-Koehler Publishers
ISBN: 162656292X
Category: Social Science
Page: 192
View: 2862

Continue Reading →

We humans live by stories, says David Korten, and the stories that now govern our society set us on a path to certain self-destruction. In this profound new book, Korten shares the results of his search for a story that reflects the fullness of human knowledge and understanding and provides a guide to action adequate to the needs of our time. Korten calls our current story Sacred Money and Markets. Money, it tells us, is the measure of all worth and the source of all happiness. Earth is simply a source of raw materials. Inequality and environmental destruction are unfortunate but unavoidable. Although many recognize that this story promotes bad ethics, bad science, and bad economics, it will remain our guiding story until replaced by one that aligns with our deepest understanding of the universe and our relationship to it. To guide our path to a viable human future, Korten offers a Sacred Life and Living Earth story grounded in a cosmology that affirms we are living beings born of a living Earth itself born of a living universe. Our health and well-being depend on an economy that works in partnership with the processes by which Earth's community of life maintains the conditions of its own existence—and ours. Offering a hopeful vision, Korten lays out the transformative impact adopting this story will have on every aspect of human life and society.

Economics for the Common Good


Author: Jean Tirole
Publisher: Princeton University Press
ISBN: 1400889146
Category: Business & Economics
Page: 576
View: 7759

Continue Reading →

From Nobel Prize–winning economist Jean Tirole, a bold new agenda for the role of economics in society When Jean Tirole won the 2014 Nobel Prize in Economics, he suddenly found himself being stopped in the street by complete strangers and asked to comment on issues of the day, no matter how distant from his own areas of research. His transformation from academic economist to public intellectual prompted him to reflect further on the role economists and their discipline play in society. The result is Economics for the Common Good, a passionate manifesto for a world in which economics, far from being a "dismal science," is a positive force for the common good. Economists are rewarded for writing technical papers in scholarly journals, not joining in public debates. But Tirole says we urgently need economists to engage with the many challenges facing society, helping to identify our key objectives and the tools needed to meet them. To show how economics can help us realize the common good, Tirole shares his insights on a broad array of questions affecting our everyday lives and the future of our society, including global warming, unemployment, the post-2008 global financial order, the euro crisis, the digital revolution, innovation, and the proper balance between the free market and regulation. Providing a rich account of how economics can benefit everyone, Economics for the Common Good sets a new agenda for the role of economics in society.

Creating a Learning Society

A New Approach to Growth, Development, and Social Progress
Author: Joseph E. Stiglitz,Bruce C. Greenwald
Publisher: Columbia University Press
ISBN: 0231540620
Category: Business & Economics
Page: 400
View: 2858

Continue Reading →

Since its publication Creating a Learning Society has served as an effective tool for those who advocate government policies to advance science and technology. It shows persuasively how enormous increases in our standard of living have been the result of learning how to learn, and it explains how advanced and developing countries alike can model a new learning economy on this example. Creating a Learning Society: Reader's Edition uses accessible language to focus on the work's central message and policy prescriptions. As the book makes clear, creating a learning society requires good governmental policy in trade, industry, intellectual property, and other important areas. The text's central thesis—that every policy affects learning—is critical for governments unaware of the innovative ways they can propel their economies forward.

Gulf Politics and Economics in a Changing World


Author: Michael Hudson,Mimi Kirk
Publisher: World Scientific
ISBN: 9814566217
Category: Political Science
Page: 240
View: 4679

Continue Reading →

The wave of uprisings that has engulfed the Arab world since 2011 has impacted the Gulf significantly, however much the region appears to have remained unscathed. In Bahrain, the regime cracked down on protestors with the help of Saudi forces, and increasing Gulf tensions with Iran, political chaos in Yemen, and rumblings among unemployed youth throughout the Gulf Cooperation Council (GCC) states all complicate the facade of Gulf stability. In addition, ties with the United States appear to be weakening; regional politics are varied and changing, particularly with the rise of India and China; Gulf governance is often oppressive; and GCC economies are even more tied to rentier practices of distribution to keep populations satisfied and in check. Gulf Politics and Economics in a Changing World addresses these aspects of political and economic life in the GCC, Iran, and Iraq in order to assess the present situation. It also offers analysis and predictions as to what the future of this important area of the greater Middle East may hold. The volume, which features contributions from some of the best scholars in the field of Gulf studies in the United States, the Middle East, Europe, and Asia, provides an in-depth and critical look at the region. Contents:Introduction: The Gulf Enigma (Michael C Hudson)The Gulf States and the Economy:The Development Trajectory of the GCC States: An Analysis of Aims and Visions in Current Development Plans (Martin Hvidt)Redesigning the Distributional Bargain in the GCC (Steffen Hertog)State-Business Relations in the Gulf: The Role of Business Actors in the Decision-Making Process of Reform in Bahrain and Oman (Marc Valeri)Gulf Governance:The Rule of Law and Political Liberalization in the Arab Gulf (David M Mednicoff and Joanne E Springer)The Dynamics of Distribution in the Gulf: Selective Allocations, Agency, and Bureaucratic Accessibility in Kuwait (James C A Redman)The Gulf and Beyond: Relations and Tensions:Rethinking Regional Organization in the Gulf and the Greater Middle East (Malik R Dahlan)Sources of Continuity in Iran's Foreign Policy (Mahmood Sariolghalam)The United States and the Gulf:American Policy in the Persian Gulf: From Balance of Power to Failed Hegemony (F Gregory Gause, III)Neither East Nor West? The Gulf in a Post-American World (Alain Gresh)US Military Bases in the Gulf and the Dynamics of Redeployment (Degang Sun) Readership: Undergraduates, postgraduates, and researchers who are interested in social, economic and political affairs of the Persian Gulf. Keywords:Persian Gulf;Arabian Gulf;Political Economy;International Relations;Post-Arab SpringKey Features:While many of the current monographs and edited volumes on the Gulf are concerned with one particular issue, such as migrant labor, sectarianism, or rentier economics, Gulf Politics and Economics in a Changing World addresses a cross section of material on the region that is essential to understanding the bigger pictureThe scope of academic analysis is not Western-centric; these arguments will appeal to a large audience interested in the future role of the United States in the Persian GulfA number of the authors are very well known and respected in their field, including F Gregory Gause, Professor and Chair of the Department of Political Science at the University of Vermont; Steffen Hertog, Senior Lecturer in Comparative Politics at the London School of Economics, and Alain Gresh, Editor of Le Monde Diplomatique

The Next Convergence

The Future of Economic Growth in a Multispeed World
Author: Michael Spence
Publisher: Farrar, Straus and Giroux
ISBN: 9781429968713
Category: Business & Economics
Page: 320
View: 3816

Continue Reading →

A Washington Post Notable Nonfiction Book for 2011 With the British Industrial Revolution, part of the world's population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway through a century of high and accelerating growth in the developing world and a new convergence with the advanced countries—a trend that is set to reshape the world. Michael Spence, winner of the Nobel Prize in Economic Sciences, explains what happened to cause this dramatic shift in the prospects of the five billion people who live in developing countries. The growth rates are extraordinary, and continuing them presents unprecedented challenges in governance, international coordination, and ecological sustainability. The implications for those living in the advanced countries are great but little understood. Spence clearly and boldly describes what's at stake for all of us as he looks ahead to how the global economy will develop over the next fifty years. The Next Convergence is certain to spark a heated debate how best to move forward in the post-crisis period and reset the balance between national and international economic interests, and short-term fixes and long-term sustainability.

Crisis System

A critical realist and environmental critique of economics and the economy
Author: Petter Naess,Leigh Price
Publisher: Routledge
ISBN: 1134799985
Category: Social Science
Page: 238
View: 8986

Continue Reading →

This book throws light onto the nature and causes of three different but strongly interconnected crises in contemporary societies worldwide: an economic crisis, an ecological crisis and a normative (moral and political) crisis. These crises are reflected in the profoundly inequitable distribution of wealth, resources and life opportunities around the world. If we follow the causal roots of these crises, we are led back to an inherent dynamic in the capitalist economic system itself, discursively expressed as neoclassical, mainstream economics. For instance, by conflating human needs with market demand, mainstream economics disregards the needs of those who do not have sufficient purchasing power, as well as any needs that cannot be quantified or monetised in some way. Mainstream economics also ignores the notion of natural limits. Furthermore, it seems that everything that is quantifiable is potentially for sale and this results in the substitution of nature, indigenous cultural traditions and various life forms with commodities and ‘human capital’. The latter is defined as the skills instrumental for continual economic growth. Besides critiquing the academic discipline of economics, this book also points to a number of dysfunctional and crisis-prone structures and practices of substantive economic life. It will be of interest to students and scholars working in philosophy, economics and environmental studies.

Prosperity without Growth

Foundations for the Economy of Tomorrow
Author: Tim Jackson
Publisher: Taylor & Francis
ISBN: 1317388224
Category: Business & Economics
Page: 310
View: 6386

Continue Reading →

What can prosperity possibly mean in a world of environmental and social limits? The publication of Prosperity without Growth was a landmark in the sustainability debate. Tim Jackson’s piercing challenge to conventional economics openly questioned the most highly prized goal of politicians and economists alike: the continued pursuit of exponential economic growth. Its findings provoked controversy, inspired debate and led to a new wave of research building on its arguments and conclusions. This substantially revised and re-written edition updates those arguments and considerably expands upon them. Jackson demonstrates that building a ‘post-growth’ economy is a precise, definable and meaningful task. Starting from clear first principles, he sets out the dimensions of that task: the nature of enterprise; the quality of our working lives; the structure of investment; and the role of the money supply. He shows how the economy of tomorrow may be transformed in ways that protect employment, facilitate social investment, reduce inequality and deliver both ecological and financial stability. Seven years after it was first published, Prosperity without Growth is no longer a radical narrative whispered by a marginal fringe, but an essential vision of social progress in a post-crisis world. Fulfilling that vision is simply the most urgent task of our times.