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Edited by Hamzah Muzaini and Claudio Minca

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Peter Stone

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Patrick Dumberry

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Edited by Anssi Paasi, John Harrison and Martin Jones

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Edited by Trudie Knijn and Manuela Naldini

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Jonathan F. Cogliano, Peter Flaschel, Reiner Franke, Nils Fröhlich and Roberto Veneziani

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Victoria Chick

Economic theory that is relevant to the real world is always a product of its time, taking for granted the institutions and behaviours that characterise that time. Old books, like Keynes’s General Theory, present a conundrum: how much is still pertinent today and what revisions are necessary to bring the theory into line with changes in the economic system since the book was written. This chapter attempts an answer to that question. It is argued that the principle of effective demand and liquidity preference is almost unchanged, but that globalisation and changes to the banks’ behaviour pose serious questions for the theory, as does our new awareness of resource constraints and climate change. The underlying methodology remains the best on offer and should be retained in any revision.

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Jonathan F. Cogliano, Peter Flaschel, Reiner Franke, Nils Fröhlich and Roberto Veneziani

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Anssi Paasi, John Harrison and Martin Jones

Region and territory have been major keywords of geographical thinking, methodology and research practice since the institutionalization of geography as an academic discipline at the end of the nineteenth century. But what is a region? How are they constructed? How do regions relate to territory? Are regions and territories still relevant in today’s modern world characterized by all kinds of flows and networks? How are regions and territories affected and shaped by social forces? What does it mean to study the geographies of regions and territories? What does the future hold for these spatial categories? These are just some of the key questions, which have not only shaped the long intellectual history of studying regions and territories, they are as relevant today as they have ever been. In this chapter we chart the increased utility of the region and territory in different social, political and cultural realms. We trace the evolving geographies of regions and territories through five distinct chronological phases – traditional regional geographies, regional science, new regional geography, new regionalism and new regional worlds – before revealing the dynamics underpinning a regional resurgence in globalization. In the final part, we contend that contemporary geographies of regions and territories are marked by distinct regional worlds, diverse regional worlds, and decentred regional futures. Finally, by taking stock of the current state of debates on the theory and empirical dimensions of regions and territories, we make the case for a new phase of consolidated regional geographies.

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Charles Goodhart

It was some fifty years ago, when Harry Johnson came to the LSE and established his monetary seminar there, that Vicky Chick and I first met, and have remained friends and colleagues ever since. During these fifty years there have been several regime changes in monetary management. The Bretton Woods system of pegged exchange rates gave way in 1971–72 to a rather inchoate non-system of regional pegging (or fixing as in the euro-zone) combined with a – somewhat managed – float between major currencies. So, until the early 1970s, only the Fed in the USA had to concern itself with the principles, regime and rules for managing its domestic monetary system.