Over the past decades, economists have witnessed with growing uneasiness their failure to explain the ballooning of public debt in most countries. This book provides an alternative orientation that explains why concepts of public debt that are relevant for authoritarian regimes are not relevant for democratic regimes. Using methodological individualism and micro-economics, this book overcomes flaws inherent in the standard macro approach, according to which governments manipulate public debt to promote systemic stability. This unique analysis is grounded in the writings of Antonio de Viti de Marco, injecting current analytical contributions and formulations into the framework to offer a forthright insight into public debt and political economy.
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Rational Decision-Making within the Bounds of Reason
Edited by Morris Altman
This Handbook is a unique and original contribution of over thirty chapters on behavioural economics, examining and addressing an important stream of research where the starting assumption is that decision-makers are for the most part relatively smart or rational. This particular approach is in contrast to a theme running through much contemporary work where individuals’ behaviour is deemed irrational, biased, and error-prone, often due to how people are hardwired. In the smart people approach, where errors or biases occur and when social dilemmas arise, more often than not, improving the decision-making environment can repair these problems without hijacking or manipulating the preferences of decision-makers. This book covers a wide-range of themes from micro to macro, including various sub-disciplines within economics such as economic psychology, heuristics, fast and slow-thinking, neuroeconomics, experiments, the capabilities approach, institutional economics, methodology, nudging, ethics, and public policy.
Ronald W. Coan
A History of American State and Local Economic Development relates the history of American local and state economic development from 1790 to 2000. This multi-variable, multi-disciplinary history employs a bottom-up policy-making systems approach while exploring the three eras of economic development.
Three Centuries of Theory and Evidence
Richard M. Salsman
How have the most influential political economists of the past three centuries theorized about sovereign borrowing and shaped its now widespread use? That important question receives a comprehensive answer in this original work, featuring careful textual analysis and illuminating exhibits of public debt empirics since 1700. Beyond its value as a definitive, authoritative history of thought on public debt, this book rehabilitates and reintroduces a realist perspective into a contemporary debate now heavily dominated by pessimists and optimists alike.
This fascinating volume offers a comprehensive synthesis of the events, causes and outcomes of the major financial crises from 1929 to the present day. Beginning with an overview of the global financial system, Sara Hsu presents both theoretical and empirical evidence to explain the roots of financial crises and financial instability in general. She then provides a thorough breakdown of a number of major crises of the past century, both in the United States and around the world.
Edited by Chris Steyaert, Julia Nentwich and Patrizia Hoyer
This book offers a lively illustration of the dynamic relationship between discourse and organizational psychology. Contributions include empirically rich discussions of both traditional and widely studied topics such as resistance to change, inclusion and exclusion, participation, multi-stakeholder collaboration and diversity management, as well as newer research areas such as language negotiations, work time arrangements, technology development and change as intervention.
Michael Schneider, Mike Pottenger and J. E. King
This book is about the distribution of wealth among people, described by statisticians as the size distribution of wealth, and the way that this distribution has changed over time. It provides answers to a host of important questions including, why is the distribution of wealth important and how can it be measured? How unequal is this distribution in practice, and has the degree of inequality changed over time? What factors determine the level of inequality? What criteria can be used to rank alternative distributions of wealth and what instruments are available to a government that wishes to change the distribution? How is the distribution of wealth related to the aggregate amount of wealth? The answers have many dimensions, notably economic, statistical, ethical, political, sociological and legal.
Edited by Erik S. Reinert, Jayati Ghosh and Rainer Kattel
The Handbook of Alternative Theories of Economic Development explores the theories and approaches which, over a prolonged period of time, have existed as viable alternatives to today’s mainstream and neo-classical tenets. With a total of more than 40 specially commissioned chapters, written by the foremost authorities in their respective fields, this volume represents a landmark in the field of economic development. It elucidates the richness of the alternative and sometimes misunderstood ideas which, in different historical contexts, have proved to be vital to the improvement of the human condition.
- New Horizons in Institutional and Evolutionary Economics series
Glen Atkinson and Stephen P. Paschall
Law and economics are interdependent. Using a historical case analysis approach, this book demonstrates how the legal process relates to and is affected by economic circumstances. Glen Atkinson and Stephen P. Paschall examine this co-evolution in the context of the economic development that occurred in the nineteenth and early twentieth centuries as well as the impact of the law on that development. Specifically, the authors explore the development of a national market, the transformation of the corporation, and the conflict between state and federal control over businesses. Their focus on dynamic, integrated systems presents an alternative to mainstream law and economics.
- Handbooks of Research Methods and Applications series
Edited by Luigino Bruni and Pier Luigi Porta
Offering a thorough assessment of the recent developments in the economic literature on happiness and quality of life, this Handbook astutely considers both methods of estimation and policy application. The expert contributors critically present in-depth research on a wide range of topics including culture and media, inequality, and the relational and emotional side of human life. Accessible and far-reaching, it will prove an invaluable resource for students and scholars of welfare and economics.