Economists dream of equilibrium. It’s time to wake up.
In mainstream economics, markets are ideal if competition is perfect. When supply balances demand, economic maturity is orderly and disturbed only by shocks. These ideas are rooted in doctrines going back thousands of years yet, as James K. Galbraith and Jing Chen show, they contradict the foundations of our scientific understanding of the physical and biological worlds.
Entropy Economics discards the conventions of equilibrium and presents a new basis for thinking about economic issues, one rooted in life processes—an unequal world of unceasing change in which boundaries, plans, and regulations are essential. Galbraith and Chen’s theory of value is based on scarcity, and it accounts for the power of monopoly. Their theory of production covers increasing and decreasing returns, uncertainty, fixed investments over time, and the impact of rising resource costs. Together, their models illuminate key problems such as trade, finance, energy, climate, conflict, and demography.
Entropy Economics is a thrilling framework for understanding the world as it is and will be keenly relevant to the economic challenges of a world threatened with disorder.
A provocative chronicle of how US public health has strayed from its liberal roots.
The Covid-19 response was a crucible of politics and public health—a volatile combination that produced predictably bad results. As scientific expertise became entangled with political motivations, the public-health establishment found itself mired in political encampment.
It was, as Sandro Galea argues, a crisis of liberalism: a retreat from the principles of free speech, open debate, and the pursuit of knowledge through reasoned inquiry that should inform the work of public health.
Across fifty essays, Within Reason chronicles how public health became enmeshed in the insidious social trends that accelerated under Covid-19. Galea challenges this intellectual drift towards intolerance and absolutism while showing how similar regressions from reason undermined social progress during earlier eras. Within Reason builds an incisive case for a return to critical, open inquiry as a guiding principle for the future public health we want—and a future we must work to protect.
Galileo’s telescopic discoveries, and especially his observation of sunspots, caused great debate in an age when the heavens were thought to be perfect and unchanging. Christoph Scheiner, a Jesuit mathematician, argued that sunspots were planets or moons crossing in front of the Sun. Galileo, on the other hand, countered that the spots were on or near the surface of the Sun itself, and he supported his position with a series of meticulous observations and mathematical demonstrations that eventually convinced even his rival.
On Sunspots collects the correspondence that constituted the public debate, including the first English translation of Scheiner’s two tracts as well as Galileo’s three letters, which have previously appeared only in abridged form. In addition, Albert Van Helden and Eileen Reeves have supplemented the correspondence with lengthy introductions, extensive notes, and a bibliography. The result will become the standard work on the subject, essential for students and historians of astronomy, the telescope, and early modern Catholicism.
Rómulo Gallegos is best known for being Venezuela’s first democratically elected president. But in his native land he is equally famous as a writer responsible for one of Venezuela’s literary treasures, the novel Doña Barbara. Published in 1929 and all but forgotten by Anglophone readers, Doña Barbara is one of the first examples of magical realism, laying the groundwork for later authors such as Gabriel García Márquez and Mario Vargas Llosa.
Following the epic struggle between two cousins for an estate in Venezuela, Doña Barbara is an examination of the conflict between town and country, violence and intellect, male and female. Doña Barbara is a beautiful and mysterious woman—rumored to be a witch—with a ferocious power over men. When her cousin Santos Luzardo returns to the plains in order to reclaim his land and cattle, he reluctantly faces off against Doña Barbara, and their battle becomes simultaneously one of violence and seduction. All of the action is set against the stunning backdrop of the Venezuelan prairie, described in loving detail. Gallegos’s plains are filled with dangerous ranchers, intrepid cowboys, and damsels in distress, all broadly and vividly drawn. A masterful novel with an important role in the inception of magical realism, Doña Barbara is a suspenseful tale that blends fantasy, adventure, and romance.
Hailed as “the Bovary of the llano” by Larry McMurtry in his new foreword to this book, Doña Barbarais a magnetic and memorable heroine, who has inspired numerous adaptations on the big and small screens, including a recent television show that aired on Telemundo.
Today we usually think of a book of poems as composed by a poet, rather than assembled or adapted by a network of poets and readers. But the earliest European vernacular poetries challenge these assumptions. Medieval songbooks remind us how lyric poetry was once communally produced and received—a collaboration of artists, performers, live audiences, and readers stretching across languages and societies.
The only comparative study of its kind, Songbook treats what poetry was before the emergence of the modern category “poetry”: that is, how vernacular songbooks of the thirteenth to fifteenth centuries shaped our modern understanding of poetry by establishing expectations of what is a poem, what is a poet, and what is lyric poetry itself. Marisa Galvez analyzes the seminal songbooks representing the vernacular traditions of Occitan, Middle High German, and Castilian, and tracks the process by which the songbook emerged from the original performance contexts of oral publication, into a medium for preservation, and, finally, into an established literary object. Galvez reveals that songbooks—in ways that resonate with our modern practice of curated archives and playlists—contain lyric, music, images, and other nonlyric texts selected and ordered to reflect the local values and preferences of their readers. At a time when medievalists are reassessing the historical foundations of their field and especially the national literary canons established in the nineteenth century, a new examination of the songbook’s role in several vernacular traditions is more relevant than ever.
United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy.
In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
French symbolist artist Odilon Redon (1840–1916) seemed to thrive at the intersection of literature and art. Known as “the painter-writer,” he drew on the works of Poe, Baudelaire, Flaubert, and Mallarmé for his subject matter. And yet he concluded that visual art has nothing to do with literature. Examining this apparent contradiction, The Brush and the Pen transforms the way we understand Redon’s career and brings to life the interaction between writers and artists in fin-de-siècle Paris.
Bringing to light a hidden chapter in the history of modern Judaism, Shamanic Trance in Modern Kabbalah explores the shamanic dimensions of Jewish mysticism. Jonathan Garb integrates methods and models from the social sciences, comparative religion, and Jewish studies to offer a fresh view of the early modern kabbalists and their social and psychological contexts.
Through close readings of numerous texts—some translated here for the first time—Garb draws a more complete picture of the kabbalists than previous depictions, revealing them to be as concerned with deeper states of consciousness as they were with study and ritual. Garb discovers that they developed physical and mental methods to induce trance states, visions of heavenly mountains, and transformations into animals or bodies of light. To gain a deeper understanding of the kabbalists’ shamanic practices, Garb compares their experiences with those of mystics from other traditions as well as with those recorded by psychologists such as Milton Erickson and Carl Jung. Finally, Garb examines the kabbalists’ relations with the wider Jewish community, uncovering the role of kabbalistic shamanism in the renewal of Jewish tradition as it contended with modernity.
Circumstellar disks are vast expanses of dust that form around new stars in the earliest stages of their birth. Predicted by astronomers as early as the eighteenth century, they weren’t observed until the late twentieth century, when interstellar imaging technology enabled us to see nascent stars hundreds of light years away. Since then, circumstellar disks have become an area of intense study among astrophysicists, largely because they are thought to be the forerunners of planetary systems like our own—the possible birthplaces of planets.
This volume brings together a team of leading experts to distill the most up-to-date knowledge of circumstellar disks into a clear introductory volume. Understanding circumstellar disks requires a broad range of scientific knowledge, including chemical processes, the properties of dust and gases, hydrodynamics and magnetohydrodynamics, radiation transfer, and stellar evolution—all of which are covered in this comprehensive work, which will be indispensable for graduate students, seasoned researchers, or even advanced undergrads setting out on the study of planetary evolution.
America’s public universities educate 80% of our nation’s college students. But in the wake of rising demands on state treasuries, changing demographics, growing income inequality, and legislative indifference, many of these institutions have fallen into decline. Tuition costs have skyrocketed, class sizes have gone up, the number of courses offered has gone down, and the overall quality of education has decreased significantly.
Here James C. Garland draws on more than thirty years of experience as a professor, administrator, and university president to argue that a new compact between state government and public universities is needed to make these schools more affordable and financially secure. Saving Alma Mater challenges a change-resistant culture in academia that places too low a premium on efficiency and productivity. Seeing a crisis of campus leadership, Garland takes state legislators to task for perpetuating the decay of their public university systems and calls for reforms in the way university presidents and governing boards are selected. He concludes that the era is long past when state appropriations can enable public universities to keep their fees low and affordable. Saving Alma Mater thus calls for the partial deregulation of public universities and a phase-out of their state appropriations. Garland’s plan would tie university revenues to their performance and exploit the competitive pressures of the academic marketplace to control costs, rein in tuition, and make schools more responsive to student needs.
A much-needed blueprint for reform based on Garland’s real-life successes as the head of Miami University of Ohio, Saving Alma Mater will be essential for anyone concerned with the costs and quality of higher education in America today.
What is the good life? Posing this question today would likely elicit very different answers. Some might say that the good life means doing good—improving one’s community and the lives of others. Others might respond that it means doing well—cultivating one’s own abilities in a meaningful way. But for Aristotle these two distinct ideas—doing good and doing well—were one and the same and could be realized in a single life. In Confronting Aristotle’s Ethics, Eugene Garver examines how we can draw this conclusion from Aristotle's works, while also studying how this conception of the good life relates to contemporary ideas of morality.
The key to Aristotle’s views on ethics, argues Garver, lies in the Metaphysics or, more specifically, in his thoughts on activities, actions, and capacities. For Aristotle, Garver shows, it is only possible to be truly active when acting for the common good, and it is only possible to be truly happy when active to the extent of one’s own powers. But does this mean we should aspire to Aristotle’s impossibly demanding vision of the good life? In a word, no. Garver stresses the enormous gap between life in Aristotle’s time and ours. As a result, this bookwill be a welcome rumination on not only Aristotle, but the relationship between the individual and society in everyday life.
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