A SCHOLARLY BOOK REPOSITORY132 start with H start with H
Over 20 million people are working part-time in the United States, more than six million of them involuntarily. Both Time and Fortune magazines have run recent cover stories about this constrained faction of the workforce, who tend to earn on average 40 percent less than full-time workers. Addressing this disturbing trend, Chris Tilly presents a current, in-depth analysis of how U.S. businesses use part-time employment, and why they are using it more and more.
Worker demand for part-time jobs peaked more than twenty years ago, but employers' desires for cheap labor and schedule flexibility have continued to drive the long-term growth of part-time jobs. Tilly argues that this growth is a reaction to the expanding trade and service industries, which, by their nature, depend on part-time workers. Examining the nature and purposes of the different types of part-time employment, he explores the roots of part-time jobs in the organization of work, and the inadequacies of existing public policies on part-time employment.
Using not only statistical analysis but over eighty interviews with employers in the retail and insurance industries, Tilly suggests new approaches to providing flexibility without insecurity.
Through analysis of poetry, fiction, creative nonfiction, film, and drama, The Half-Life of Deindustrialization shows why people and communities cannot simply “get over” the losses of economic restructuring. The past provides inspiration and strength for working-class people, even as the contrast between past and present highlights what has been lost in the service economy. The memory of productive labor and stable, proud working-class communities shapes how people respond to contemporary economic, social, and political issues. These stories can help us understand the resentment, frustration, pride, and persistence of the American working class.
Intended primarily for those doing research in the field of international management, this book should also interest scholars and students of public institutions, sociology, and industrial psychology. Managers will find the book's comprehensive overview of international management to be invaluable. Its global perspective will appeal to readers around the world.
Betty Jane Punnett is Professor of International Business, University of the West Indies, Cave Hill Campus.
Oded Shenkar is Ford Motor Company Chair in Global Business Management, Fisher College of Business, the Ohio State University.
The textile industry was one of the first manufacturing activities to become organized globally, as mechanized production in Europe used cotton from the various colonies. Africa, the least developed of the world’s major regions, is now increasingly engaged in the production of this crop for the global market, and debates about the pros and cons of this trend have intensified.
Hanging by a Thread: Cotton, Globalization, and Poverty in Africa illuminates the connections between Africa and the global economy. The editors offer a compelling set of linked studies that detail one aspect of the globalization process in Africa, the cotton commodity chain.
From global policy debates, to impacts on the natural environment, to the economic and social implications of this process, Hanging by a Thread explores cotton production in the postcolonial period from different disciplinary perspectives and in a range of national contexts. This approach makes the globalization process palpable by detailing how changes at the macroeconomic level play out on the ground in the world’s poorest region. Hanging by a Thread offers new insights on the region in a global context and provides a critical perspective on current and future development policy for Africa.
Contributors: Thomas J. Bassett, Jim Bingen, Duncan Boughton, Brian M. Dowd, Marnus Gouse, Leslie C. Gray, Dolores Koenig, Scott M. Lacy, William G. Moseley, Colin Poulton, Bhavani Shankar, Corinne Siaens, Colin Thirtle, David Tschirley, and Quentin Wodon.
Drawing on new research in psychology, neuroscience, and economics, the authors of Happiness and the Law assess how the law affects people’s quality of life—and how it can do so in a better way. Taking readers through some of the common questions about and objections to the use of happiness research in law and policy, they consider two areas in depth: criminal punishment and civil lawsuits. More broadly, the book proposes a comprehensive approach to assessing human welfare—well-being analysis—that is a valuable alternative to the strictly economically based cost-benefit analyses currently dominating how we evaluate public policy. The study of happiness is the next step in the evolution from traditional economic analysis of the law to a behavioral approach. Happiness and the Law will serve as the definitive, yet accessible, guide to understanding this new paradigm.
Many experts attribute the region's high levels of happiness to factors such as greater relative national wealth and well-functioning institutions. Yet, a number of other countries in Europe and parts of Asia share those qualities and rank far lower in life satisfaction. Others credit the region's high levels of happiness to its welfare state model, but these have changed considerably over time—and Iceland does not share this feature.
Instead, economist Christian Bjørnskov argues that the most important factor to come out of international comparisons is the importance of social trust—the ability to trust other people one does not know personally. The populations in three of the five countries are also characterized by a very strong sense of personal freedom. These two key factors contribute to a fuller and richer life. Bjørnskov ends by discussing to what extent these factors can be exported to other parts of the world.
In this latest installment in Reaktion's Field Notes series, published in association with the Brooklyn Rail, Pavlos Roufos answers this key question in an insightful, critical analysis of the origins and management of the 2010 Greek economic crisis. Setting the crisis in its historical context, Roufos explores the creation of the Eurozone, its “glorious” years, and today’s political threats to its existence. By interweaving stories of individual people’s lived experiences and describing in detail the politicians, policies, personalities, and events at the heart of the collapse, he situates its development both in terms of the particularities of the Greek economy and society and the overall architecture of Europe’s monetary union. This broad examination also illuminates the social movements that emerged in Greece in response to the crisis, unpacking what both the crisis managers and many of their critics presented as a given: that a happy future is a thing of the past.
The celebrated economist Zvi Griliches’s entire career can be viewed as an attempt to advance the cause of accuracy in economic measurement. His interest in the causes and consequences of technical progress led to his pathbreaking work on price hedonics, now the principal analytical technique available to account for changes in product quality.
Hard-to-Measure Goods and Services, a collection of papers from an NBER conference held in Griliches’s honor, is a tribute to his many contributions to current economic thought. Here, leading scholars of economic measurement address issues in the areas of productivity, price hedonics, capital measurement, diffusion of new technologies, and output and price measurement in “hard-to-measure” sectors of the economy. Furthering Griliches’s vital work that changed the way economists think about the U.S. National Income and Product Accounts, this volume is essential for all those interested in the labor market, economic growth, production, and real output.
Andrea Finkelstein is Assistant Professor of History, City University of New York.
The iconic leader of one of America’s most powerful unions, Harry Bridges put an indelible stamp on the twentieth century labor movement. Robert Cherny’s monumental biography tells the life story of the figure who built the International Longshore and Warehouse Union (ILWU) into a labor powerhouse that still represents almost 30,000 workers.
An Australian immigrant, Bridges worked the Pacific Coast docks. His militant unionism placed him at the center of the 1934 West Coast Waterfront Strike and spurred him to expand his organizing activities to warehouse laborers and Hawaiian sugar and pineapple workers. Cherny examines the overall effectiveness of Bridges as a union leader and the decisions and traits that made him effective. Cherny also details the price paid by Bridges as the US government repeatedly prosecuted him for his left-wing politics.
Drawing on personal interviews with Bridges and years of exhaustive research, Harry Bridges places an extraordinary individual and the ILWU within the epic history of twentieth-century labor radicalism.
John Hoerr tells the story of three men—his uncle, Congressman Harry Davenport, union leader Tom Quinn, and Father Charles Owen Rice—whose lives became intertwined during the anti-Communist witch hunts of the McCarthy Era. The story helps illuminate one of the more repressive periods in American history, when thousands of Americans guilty only of enlisting in leftist causes were caught up in dragnets cast by overzealous Communist hunters on behalf of the House Un-American Activities Committee and other bodies. Much has been written about well-known cultural figures (the Hollywood Ten), and prominent writers (Arthur Miller and Lillian Hellman) who contended with HUAC. Hoerr tells of mostly ordinary Americans who were largely unknown at the time, but whose stories are nonetheless remarkable.
Writing from personal experience with the title characters, as well as archival research, Hoerr recreates the events of the 1949 HUAC hearings, where rigged testimony by a few workers cast suspicion on their union brothers. The results would echo through the years, causing people to lose jobs, marriages, and self-respect. Hoerr traces the paths followed by Harry, Tom, and Father Rice and relates their individual experiences to the great conflict between anti-Communist and Communist forces in the American labor movement, leading to the eventual demise of the CIO (Congress of Industrial Organizations).
A university press is a curious institution, dedicated to the dissemination of learning yet apart from the academic structure; a publishing firm that is in business, but not to make money; an arm of the university that is frequently misunderstood and occasionally attacked by faculty and administration. Max Hall here chronicles the early stages and first sixty years of Harvard University Press in a rich and entertaining book that is at once Harvard history, publishing history, printing history, business history, and intellectual history.
The tale begins in 1638 when the first printing press arrived in British North America. It became the property of Harvard College and remained so for nearly half a century. Hall sketches the various forerunners of the “real” Harvard University Press, founded in 1913, and then follows the ups and downs of its first six decades, during which the Press published steadily if not always serenely a total of 4,500 books. He describes the directors and others who left their stamp on the Press or guided its fortunes during these years. And he gives the stories behind such enduring works as Lovejoy’s Great Chain of Being, Giedion’s Space, Time and Architecture, Langer’s Philosophy in a New Key, and Kelly’s Eleanor of Aquitaine and the Four Kings.
Through detailed studies of two different orphan support organizations in Uganda, Scherz shows how many Ugandans view material forms of Catholic charity as deeply intertwined with their own ethics of care and exchange. With a detailed examination of this overlooked relationship in hand, she reassesses the generally assumed paradox of material aid as both promising independence and preventing it. The result is a sophisticated demonstration of the powerful role that anthropological concepts of exchange, value, personhood, and religion play in the politics of international aid and development.
Building on new archaeological and historical research, Sumner La Croix assembles here the economic history of Hawai‘i from the first Polynesian settlements in 1200 through US colonization, the formation of statehood, and to the present day. He shows how the political and economic institutions that emerged and evolved in Hawai‘i during its three centuries of global isolation allowed an economically and culturally rich society to emerge, flourish, and ultimately survive annexation and colonization by the United States. The story of a small, open economy struggling to adapt its institutions to changes in the global economy, Hawai‘i offers broadly instructive conclusions about economic evolution and development, political institutions, and native Hawaiian rights.
The definitive account of the distinguished economist’s formative years.
Few twentieth-century figures have been lionized and vilified in such equal measure as Friedrich Hayek—economist, social theorist, leader of the Austrian school of economics, and champion of classical liberalism. Hayek’s erudite arguments in support of individualism and the market economy have attracted a devout following, including many at the levers of power in business and government. Critics, meanwhile, cast Hayek as the intellectual forefather of “neoliberalism” and of all the evils they associate with that pernicious doctrine.
In Hayek: A Life, historians of economics Bruce Caldwell and Hansjörg Klausinger draw on never-before-seen archival and family material to produce an authoritative account of the influential economist’s first five decades. This includes portrayals of his early career in Vienna; his relationships in London and Cambridge; his family disputes; and definitive accounts of the creation of The Road to Serfdom and of the founding meeting of the Mont Pèlerin Society.
A landmark work of history and biography, Hayek: A Life is a major contribution both to our cultural accounting of a towering figure and to intellectual history itself.
Yet even among those who study his work in depth, few have looked closely at his use of ideas from evolutionary science to advance his vision of markets and society. With this book Naomi Beck offers the first full-length engagement with Hayek’s thought from this perspective. Hayek argued that the capitalism we see in advanced civilizations is an unintended consequence of group selection—groups that adopted free market behavior expanded more successfully than others. But this attempt at a scientific grounding for Hayek’s principles, Beck shows, fails to hold water, plagued by incoherencies, misinterpretations of the underlying science, and lack of evidence. As crises around the globe lead to reconsiderations of the place of capitalism, Beck’s excavation of this little-known strand of Hayek’s thought—and its failure—is timely and instructive.
Through a complete collection of previously unpublished autobiographical sketches and a wide selection of interviews, Hayek on Hayek provides the first detailed chronology of Hayek's early life and education, his intellectual progress, and the academic and public reception of his ideas. His discussions range from economic methodology and the question of religious faith to the atmosphere of post-World War I Vienna and the British character.
Born in 1899 into a Viennese family of academics and civil servants, Hayek was educated at the University of Vienna, fought in the Great War, and later moved to London, where, as he watched liberty vanish under fascism and communism across Europe, he wrote The Road to Serfdom. Although this book attracted great public attention, Hayek was ignored by other economists for thirty years after World War II, when European social democracies boomed and Keynesianism became the dominant intellectual force. However, the award of the Nobel Prize in economics for 1974 signaled a reversal in Hayek's fortunes, and before his death in 1992 he saw his life's work vindicated in the collapse of the planned economies of Eastern Europe.
Hayek on Hayek is as close to an autobiography of Hayek as we will ever have. In his own eloquent words, Hayek reveals the remarkable life of a revolutionary thinker in revolutionary times.
"One of the great thinkers of our age who explored the promise and contours of liberty....[Hayek] revolutionized the world's intellectual and political life"—President George Bush, on awarding F. A. Hayek the Medal of Freedom
F. A. Hayek, recipient of the Medal of Freedom 1991 and the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of the libertarian philosophy. Hayek is the author of numerous books in economics, as well as books in political philosophy and psychology.
This latest addition to the University of Chicago Press’s Collected Works of F. A. Hayek series showcases the fascinating intersections between two of the most prominent thinkers from two successive centuries. Hayek situates Mill within the complex social and intellectual milieu of nineteenth-century Europe—as well as within twentieth-century debates on socialism and planning—and uncovers the influence of Taylor-Mill on Mill’s political economy. The volume features the Mill-Taylor correspondence and brings together for the first time Hayek’s related writings, which were widely credited with beginning a new era of Mill scholarship.
Hoerber looks at the two central works that would alter the course of economic thought: Keynes’s The General Theory of Employment, Interest, and Money and Hayek’s The Road to Serfdom. Placing them within the context of the devastation that followed World War I, he explains how the historical conditions in which these books were written help us better understand how their lessons can illuminate the economic and political phenomena of our own era, such as the recent financial crisis, globalization, and European integration. He shows how Keynes’s emphasis on government regulation through monetary and fiscal policy and Hayek’s great cautions against the tyrannies that can so easily arise from central planning have led to competing schools of economic thought. Making accessible classic economic theory and employing a qualitative method of economics, he offers an articulated account of how history has led to our current economic environment.
With a broad perspective and incisive but clear examinations of important economic theories, this book places the two great economists of the twentieth-century within their historical context, illuminating how much we have learned—and can still learn—from them both.
Caldwell begins by providing the necessary background for understanding Hayek's thought, tracing the emergence, in fin-de-siècle Vienna, of the Austrian school of economics—a distinctive analysis forged in the midst of contending schools of thought. In the second part of the book, Caldwell follows the path by which Hayek, beginning from the standard Austrian assumptions, gradually developed his unique perspective on not only economics but a broad range of social phenomena. In the third part, Caldwell offers both an assessment of Hayek's arguments and, in an epilogue, an insightful estimation of how Hayek's insights can help us to clarify and reexamine changes in the field of economics during the twentieth century.
As Hayek's ideas matured, he became increasingly critical of developments within mainstream economics: his works grew increasingly contrarian and evolved in striking—and sometimes seemingly contradictory—ways. Caldwell is ideally suited to explain the complex evolution of Hayek's thought, and his analysis here is nothing short of brilliant, impressively situating Hayek in a broader intellectual context, unpacking the often difficult turns in his thinking, and showing how his economic ideas came to inform his ideas on the other social sciences.
Hayek's Challenge will be received as one of the most important works published on this thinker in recent decades.
To that end, this book draws on new data-an extensive longitudinal survey of Union Army veterans born between 1820 and 1850-to examine the factors that affected health and labor force participation in nineteenth-century America. Contributors consider the impacts of a variety of conditions-including social class, wealth, occupation, family, and community-on the morbidity and mortality of the group. The papers investigate and address a number of special topics, including the influence of previous exposure to infectious disease, migration, and community factors such as lead in water mains. They also analyze the roles of income, health, and social class in retirement decisions, paying particular attention to the social context of disability.
Economists and historians who specialize in demography or labor, as well as those who study public health, will welcome the unique contributions offered by this book, which offers a clearer view than ever before of the workings and complexities of life, death, and labor during the nineteenth century.
The essays incorporate several indicators of quality of life, especially real per capita income and health, but also real wages, education, and inequality. And while the authors use traditional measures of health such as life expectancy and mortality rates, this volume stands alone in its extensive use of new "anthropometric" data—information about height, weight and body mass index that indicates changes in nations' well-being. Consequently, Health and Welfare during Industrialization signals a new direction in economic history, a broader and more thorough understanding of what constitutes standard of living.
Health and Work Productivity presents state-of-the-art health and productivity research that suggests interventions aimed at prevention, early detection, and best-practice treatment of workers along with an informed allocation strategy can produce significant cost-benefits for employers. Contributors cover all the major aspects of this new area of research: approaches to studying the effects of health on productivity, ways for employers to estimate the costs of productivity loss, concrete suggestions for future research developments in the area, and the implications of this research for public policy.
This breakthrough volume argues that educational attainment, high socioeconomic status, an older retirement age, and accessible medical care have improved the health and quality of life of seniors. Along the way, it outlines the economic benefits of disability decline, such as an increased rate of seniors in the workplace, relief for the healthcare system and care-giving families, and reduced medical expenses for the elderly themselves. Health at Older Ages will be an essential contribution to the debate about meeting the medical needs of an aging nation.
Recent data show wide disparity between Japan and the United States in the effectiveness of their health care systems. Japan spends close to the lowest percentage of its gross domestic product on health care among OECD countries, the United States spends the highest, yet life expectancies in Japan are among the world’s longest. Clearly, a great deal can be learned from a comprehensive comparative analysis of health care issues in these two countries.
In Health Care Issues in the United States and Japan, contributors explore the structural characteristics of the health care systems in both nations, the economic incentives underlying the systems, and how they operate in practice. Japan’s system, they show, is characterized by generous insurance schemes, a lack of gatekeepers, and fee-for-service mechanisms. The United States’ structure, on the other hand, is distinguished by for-profit hospitals, privatized health insurance, and managed care. But despite its relative success, an aging population and a general shift from infectious diseases to more chronic maladies are forcing the Japanese to consider a model more closely resembling that of the United States.
In an age when rising health care costs and aging populations are motivating reforms throughout the world, this timely study will prove invaluable.
Unfortunately, most hospitals that have formed alliances with a previous competitor or nearby teaching facility have found that they are not yet achieving the savings originally forecast. Weil finds that these shortcomings often have been caused by the difficulties in achieving a strategic fit between two partners, in finding a middle ground when differences in culture and values surface, and in implementing operational efficiencies. The book concludes with a discussion of a number of ways in which networks might cut costs in the future.
Health Networks will be of interest to medical practitioners and administrators, as well as to students in health services management programs.
Thomas P. Weil is President, Bedford Health Associates, Inc., management consultants for health and hospital services.
A New York Times Favorite Book of the Year for Healthy Living
A Fortune Best Book of the Year
An AIA New York Book of the Year
“This book should be essential reading for all who commission, design, manage, and use buildings—indeed anyone who is interested in a healthy environment.”
—Norman Foster
As schools and businesses around the world consider when and how to reopen their doors to fight COVID-19, the Director of Harvard’s Healthy Buildings Program and Harvard Business School’s leading expert on urban resilience reveal what you can do to harness the power of your offices, homes, and schools to protect your health—and boost every aspect of your performance and well-being.
Ever feel tired during a meeting? That’s because most conference rooms are not bringing in enough fresh air. When that door opens, it literally breathes life back into the room. But there is a lot more acting on your body that you can’t feel or see. From our offices and homes to schools, hospitals, and restaurants, the indoor spaces where we work, learn, play, eat, and heal have an outsized impact on our performance and well-being. They affect our creativity, focus, and problem-solving ability and can make us sick—jeopardizing our future and dragging down profits in the process.
Charismatic pioneers of the healthy building movement who have paired up to combine the cutting-edge science of Harvard’s School of Public Health with the financial know-how of the Harvard Business School, Joseph Allen and John Macomber make a compelling case in this urgently needed book for why every business and home owner should make certain relatively low-cost investments a top priority. Grounded in exposure and risk science and relevant to anyone newly concerned about how their surroundings impact their health, Healthy Buildings can help you evaluate the impact of small, easily controllable environmental fluctuations on your immediate well-being and long-term reproductive and lung health. It shows how our indoor environment can have a dramatic impact on a whole host of higher order cognitive functions—including things like concentration, strategic thinking, troubleshooting, and decision-making. Study after study has found that your performance will dramatically improve if you are working in optimal conditions (with high rates of ventilation, few damaging persistent chemicals, and optimal humidity, lighting and noise control). So what would it take to turn that knowledge into action?
Cutting through the jargon to explain complex processes in simple and compelling language, Allen and Macomber show how buildings can both expose you to and protect you from disease. They reveal the 9 Foundations of a Healthy Building, share insider tips, and show how tracking what they call “health performance indicators” with smart technology can boost a company’s performance and create economic value. With decades of practice in protecting worker health, they offer a clear way forward right now, and show us what comes next in a post-COVID world. While the “green” building movement introduced important new efficiencies, it’s time to look beyond the four walls—placing the decisions we make around buildings into the larger conversation around development and health, and prioritizing the most important and vulnerable asset of any building: its people.
The ultrawealthy largely own and guide the newspaper system in the United States. Through entities like hedge funds and private equity firms, this investor class continues to dismantle the one institution meant to give voice to average citizens in a democracy.
Margot Susca reveals the little-known history of how private investment took over the newspaper industry. Drawing on a political economy of media, Susca’s analysis uses in-depth interviews and documentary evidence to examine issues surrounding ownership and power. Susca also traces the scorched-earth policies of layoffs, debt, cash-outs, and wholesale newspaper closings left behind by private investors and the effects of the devastation on the future of news and information. Throughout, Susca reveals an industry rocked less by external forces like lost ad revenue and more by ownership and management obsessed with profit and beholden to private fund interests that feel no responsibility toward journalism or the public it is meant to serve.
At a time of deep and pervasive global challenges, future CEOs and administrators need to apply management principles to social impact cases. Today, top business schools across the country are meeting the moment, teaching courses about socially responsible investing and debating ways companies can stem the effects of climate change.
The case studies collected here are an invaluable resource for today’s students and tomorrow’s leaders. Chapters address an array of business sectors, including consumer goods, finance, health care, higher education, manufacturing, nongovernmental organizations, social services, and transportation. A teacher’s guide is available online to educators.
Helping Out addresses the centrality of children's labor participation in such family enterprises. Discussing the case of Chinese families running take-out food shops in Britain, Miri Song examines the ways in which children contribute their labor and the context in which children come to understand and believe in "helping out" as part of a "family work contract." Song explores the implications of these children's labor participation for family relationships, cultural identity, and the future of the Chinese community in Britain. While doing so, she argues that the practical importance and the broader meanings of children's work must be understood in the context of immigrant families' experiences of migration and ethnic minority status in Western, white-majority societies.
David Ellerman relates a deep theoretical groundwork for a philosophy of development, while offering a descriptive, practical suggestion of how goals of development can be better set and met. Beginning with the assertion that development assistance agencies are inherently structured to provide help that is ultimately unhelpful by overriding or undercutting the capacity of people to help themselves, David Ellerman argues that the best strategy for development is a drastic reduction in development assistance. The locus of initiative can then shift from the would-be helpers to the doers (recipients) of development. Ellerman presents various methods for shifting initiative that are indirect, enabling and autonomy-respecting. Eight representative figures in the fields of education, community organization, economic development, psychotherapy and management theory including: Albert Hirschman, Paulo Freire, John Dewey, and Søren Kierkegaard demonstrate how the major themes of assisting autonomy among people are essentially the same.
David Ellerman is currently a Visiting Scholar in the Economics Department at the University of California at Riverside.
Two and a half centuries after the American Revolution the United States stands as one of the greatest powers on earth and the undoubted leader of the western hemisphere. This stupendous evolution was far from a foregone conclusion at independence. The conquest of the North American continent required violence, suffering, and bloodshed. It also required the creation of a national government strong enough to go to war against, and acquire territory from, its North American rivals.
In A Hercules in the Cradle, Max M. Edling argues that the federal government’s abilities to tax and borrow money, developed in the early years of the republic, were critical to the young nation’s ability to wage war and expand its territory. He traces the growth of this capacity from the time of the founding to the aftermath of the Civil War, including the funding of the War of 1812 and the Mexican War. Edling maintains that the Founding Fathers clearly understood the connection between public finance and power: a well-managed public debt was a key part of every modern state. Creating a debt would always be a delicate and contentious matter in the American context, however, and statesmen of all persuasions tried to pay down the national debt in times of peace.
Popular anger against the financial system has never been higher, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform.
Brett Scott is a campaigner and former derivatives broker who has a unique understanding of life inside and outside the financial sector. He builds up a framework for approaching it based on the three principles of 'Exploring', 'Jamming' and 'Building', offering a practical guide for those who wish to deepen their understanding of, and access to, the inner workings of financial institutions.
Scott covers aspects frequently overlooked, such as the cultural dimensions of the financial system, and considers major issues such as agricultural speculation, carbon markets and tar-sands financing. Crucially, it also showcases the growing alternative finance movement, showing how everyday people can get involved in building a new, democratic, financial system.
How was the Roman Empire invoked in Brexit Britain and in the United States during Donald Trump’s presidency, and to what purpose? And why is it critical to answer these kinds of questions? Heritage and Nationalism explores how people’s perceptions and experiences of the ancient past shape political identities in the digital age. It examines the multiple ways in which politicians, parties, and private citizens mobilize aspects of the Iron Age, Roman, and Medieval past of Britain and Europe to include or exclude others based on culture, religion, class, race, and ethnicity.
The book uses quantitative and qualitative methods to investigate how premodern periods are leveraged to support or oppose populist-nationalist arguments as part of social media discussions concerning Brexit, the Italian Election of 2018, and the US-Mexican border debate in the United States. Analyzing millions of tweets and Facebook posts, comments, and replies, this book is the first to use big data to answer questions about public engagement with the past and identity politics. The findings and conclusions revise and reframe the meaning of populist nationalism today and help to build a shared basis for the democratic engagement of citizens in public life in the future. The book offers a fascinating and unmissable read for anyone interested in how the past and its contemporary legacy, or heritage, influence our political thinking and feeling in a time of hyper-connectivity.
In The Hidden Wealth of Nations, Zucman offers an inventive and sophisticated approach to quantifying how big the problem is, how tax havens work and are organized, and how we can begin to approach a solution. His research reveals that tax havens are a quickly growing danger to the world economy. In the past five years, the amount of wealth in tax havens has increased over 25%—there has never been as much money held offshore as there is today. This hidden wealth accounts for at least $7.6 trillion, equivalent to 8% of the global financial assets of households. Fighting the notion that any attempts to vanquish tax havens are futile, since some countries will always offer more advantageous tax rates than others, as well the counter-argument that since the financial crisis tax havens have disappeared, Zucman shows how both sides are actually very wrong. In The Hidden Wealth of Nations he offers an ambitious agenda for reform, focused on ways in which countries can change the incentives of tax havens. Only by first understanding the enormity of the secret wealth can we begin to estimate the kind of actions that would force tax havens to give up their practices.
Zucman’s work has quickly become the gold standard for quantifying the amount of the world’s assets held in havens. In this concise book, he lays out in approachable language how the international banking system works and the dangerous extent to which the large-scale evasion of taxes is undermining the global market as a whole. If we are to find a way to solve the problem of increasing inequality, The Hidden Wealth of Nations is essential reading.
Freeman examines the expansion of the global assembly line into the realm of computer-based work, and focuses specifically on the incorporation of young Barbadian women into these high-tech informatics jobs. As such, Caribbean women are seen as integral not simply to the workings of globalization but as helping to shape its very form. Through the enactment of “professionalism” in both appearances and labor practices, and by insisting that motherhood and work go hand in hand, they re-define the companies’ profile of “ideal” workers and create their own “pink-collar” identities. Through new modes of dress and imagemaking, the informatics workers seek to distinguish themselves from factory workers, and to achieve these new modes of consumption, they engage in a wide array of extra income earning activities. Freeman argues that for the new Barbadian pink-collar workers, the globalization of production cannot be viewed apart from the globalization of consumption. In doing so, she shows the connections between formal and informal economies, and challenges long-standing oppositions between first world consumers and third world producers, as well as white-collar and blue-collar labor.
Written in a style that allows the voices of the pink-collar workers to demonstrate the simultaneous burdens and pleasures of their work, High Tech and High Heels in the Global Economy will appeal to scholars and students in a wide range of disciplines, including anthropology, cultural studies, sociology, women’s studies, political economy, and Caribbean studies, as well as labor and postcolonial studies.
The Hipster Economy gives hipsterism the serious analysis it deserves, through which he reveals the importance of hipster aesthetics, based on authenticity, for today’s consumption-based economy.
Since being authentic has become an aspiration and an imperative, the notion of authenticity shapes the consumption habits of individuals in the most diverse contexts such as food and drinks, clothing, music, tourism, and the digital sphere. It even transforms urban areas and their local economies. In this book, Alessandro Gerosa analyzes this complex set of related phenomena to argue that the quest for authenticity has been a driver of Western societies from the emersion of capitalism and industrial society to today.
The Hipster Economy provides a historically and sociologically grounded explanation of the value of authenticity in the contemporary economy and society, through which it shows why and how authenticity has become a fundamental value orienting consumers' taste in late modern capitalism. In clear and convincing writing, Gerosa proposes a novel conceptualization of the aesthetic regime of consumption and an analysis of how the hipster economy impacts the urban space.
Contributors: John Aldrich, Jeff E. Biddle, Olav Bjerkholt, Marcel Boumans, Chao-Hsi Huang, Robert W. Dimand, Duo Qin, Ariane Dupont-Kieffer, Hsiang-Ke Chao, Aiko Ikeo, Francisco Louçã, Mary S. Morgan, Daniela Parisi, Alain Pirotte, Charles G. Renfro, Thomas Stapleford, Sofia Terlica
Marcel Boumans is Associate Professor of Economics at the University of Amsterdam. Ariane Dupont-Kieffer is a Researcher at the French National Institute of Research on Transport and Safety. Duo Qin is Reader of Economics at the University of London.
What lies at the center of the Mexican colonial experience? Should Mexican colonial society be construed as a theoretical monolith, capitalist from its inception, or was it essentially feudal, as traditional historiography viewed it? In this pathfinding study, Enrique Semo offers a fresh vision: that the conflicting social formations of capitalism, feudalism, and tributary despotism provided the basic dynamic of Mexico's social and economic development.
Responding to questions raised by contemporary Mexican society, Semo sees the origin of both backwardness and development not in climate, race, or a heterogeneous set of unrelated traits, but rather in the historical interaction of each social formation. In his analysis, Mexico's history is conceived as a succession of socioeconomic formations, each growing within the "womb" of its predecessor. Semo sees the task of economic history to analyze each of these formations and to construct models that will help us understand the laws of its evolution. His premise is that economic history contributes to our understanding of the present not by formulating universal laws, but by studying the laws of development and progression of concrete economic systems.
The History of Capitalism in Mexico opens with the Conquest and concludes with the onset of the profound socioeconomic transformation of the last fifty years of the colony, a period clearly representing the precapitalist phase of Mexican development. In the course of his discussion, Semo addresses the role of dependency—an important theoretical innovation—and introduces the concept of tributary despotism, relating it to the problems of Indian society and economy. He also provides a novel examination of the changing role of the church throughout Mexican colonial history. The result is a comprehensive picture, which offers a provocative alternative to the increasingly detailed and monographic approach that currently dominates the writing of history.
Originally published as Historia del capitalismo en México in 1973, this classic work is now available for the first time in English. It will be of interest to specialists in Mexican colonial history, as well as to general readers.
In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families.
A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.
Mira Wilkins, the foremost authority on foreign investment in the United States, continues her magisterial history in a work covering the critical years 1914–1945.
Wilkins includes all long-term inward foreign investments, both portfolio (by individuals and institutions) and direct (by multinationals), across such enterprises as chemicals and pharmaceuticals, textiles, insurance, banks and mortgage providers, other service sector companies, and mining and oil industries. She traces the complex course of inward investments, presents the experiences of the investors, and examines the political and economic conditions, particularly the range of public policies, that affected foreign investments. She also offers valuable discussions on the intricate cross-investments of inward and outward involvements and the legal precedents that had long-term consequences on foreign investment.
At the start of World War I, the United States was a debtor nation. By the end of World War II, it was a creditor nation with the strongest economy in the world. Integrating economic, business, technological, legal, and diplomatic history, this comprehensive study is essential to understanding the internationalization of the American economy, as well as broader global trends.
From the colonial era to 1914, America was a debtor nation in international accounts—owing more to foreigners than foreigners owed to us. By 1914 it was the world’s largest debtor nation. Mira Wilkins provides the first complete history of foreign investment in the United States during that period. The book shows why the United States was attractive to foreign investors and traces the changing role of foreign capital in the nation’s development, covering both portfolio and direct investment. The immense new wave of foreign investment in the United States today, and our return to the status of a debtor nation—once again the world’s largest debtor nation—makes this strong exposition far more than just historically interesting.
Wilkins reviews foreign portfolio investments in government securities (federal, state, and local) and in corporate stocks and bonds, as well as foreign direct investments in land and real estate, manufacturing plants, and even such service-sector activities as accounting, insurance, banking, and mortgage lending. She finds that between 1776 and 1875, public-sector securities (principally federal and state securities) drew in the most long-term foreign investment, whereas from 1875 to 1914 the private sector was the main attraction. The construction of the American railroad system called on vast portfolio investments from abroad; there was also sizable direct investment in mining, cattle ranching, the oil industry, the chemical industry, flour production, and breweries, as well as the production of rayon, thread, and even submarines. In addition, there were foreign stakes in making automobile and electrical and nonelectrical machinery. America became the leading industrial country of the world at the very time when it was a debtor nation in world accounts.
Focusing primarily on the fifteenth through eighteenth centuries, Fontaine traces the origins and development of peddling and the establishment of trading networks. She analyzes the changing social construction of the practice and the effect of encounters between traders of different regions. Following the pedlars’ trade routes across Europe from Spain to Sweden and Scotland to the upper Rhine, she examines their importance as channels of communication as well as of goods and raises such issues as the impact of pedlars on the values and cultural practices of the communities they visited and the ways in which being merchants changed the lives of these migrants.
History of Pedlars in Europe separates the mythology that surrounds peddling from the historically reliable and integrates existing studies with new archival research to illuminate one of the most remote areas of the social and economic history of early modern Europe. A means of trade based on mobility, uncertainty, and interdependence, peddling is rediscovered as a dynamic force involved in nothing less than the creation of a modern consumer society.
This magnificent book is the first comprehensive history of statistics from its beginnings around 1700 to its emergence as a distinct and mature discipline around 1900. Stephen M. Stigler shows how statistics arose from the interplay of mathematical concepts and the needs of several applied sciences including astronomy, geodesy, experimental psychology, genetics, and sociology. He addresses many intriguing questions: How did scientists learn to combine measurements made under different conditions? And how were they led to use probability theory to measure the accuracy of the result? Why were statistical methods used successfully in astronomy long before they began to play a significant role in the social sciences? How could the introduction of least squares predate the discovery of regression by more than eighty years? On what grounds can the major works of men such as Bernoulli, De Moivre, Bayes, Quetelet, and Lexis be considered partial failures, while those of Laplace, Galton, Edgeworth, Pearson, and Yule are counted as successes? How did Galton’s probability machine (the quincunx) provide him with the key to the major advance of the last half of the nineteenth century?
Stigler’s emphasis is upon how, when, and where the methods of probability theory were developed for measuring uncertainty in experimental and observational science, for reducing uncertainty, and as a conceptual framework for quantitative studies in the social sciences. He describes with care the scientific context in which the different methods evolved and identifies the problems (conceptual or mathematical) that retarded the growth of mathematical statistics and the conceptual developments that permitted major breakthroughs.
Statisticians, historians of science, and social and behavioral scientists will gain from this book a deeper understanding of the use of statistical methods and a better grasp of the promise and limitations of such techniques. The product of ten years of research, The History of Statistics will appeal to all who are interested in the humanistic study of science.
To understand why the Federal Reserve acted as it did at key points in its history, Meltzer draws on meeting minutes, correspondence, and other internal documents (many made public only during the 1970s) to trace the reasoning behind its policy decisions. He explains, for instance, why the Federal Reserve remained passive throughout most of the economic decline that led to the Great Depression, and how the Board's actions helped to produce the deep recession of 1937 and 1938. He also highlights the impact on the institution of individuals such as Benjamin Strong, governor of the Federal Reserve Bank of New York in the 1920s, who played a key role in the adoption of a more active monetary policy by the Federal Reserve. Meltzer also examines the influence the Federal Reserve has had on international affairs, from attempts to build a new international financial system in the 1920s to the Bretton Woods Agreement of 1944 that established the International Monetary Fund and the World Bank, and the failure of the London Economic Conference of 1933.
Written by one of the world's leading economists, this magisterial biography of the Federal Reserve and the people who helped shape it will interest economists, central bankers, historians, political scientists, policymakers, and anyone seeking a deep understanding of the institution that controls America's purse strings.
"It was 'an unprecedented orgy of extravagance, a mania for speculation, overextended business in nearly all lines and in every section of the country.' An Alan Greenspan rumination about the irrational exuberance of the late 1990s? Try the 1920 annual report of the board of governors of the Federal Reserve. . . . To understand why the Fed acted as it did—at these critical moments and many others—would require years of study, poring over letters, the minutes of meetings and internal Fed documents. Such a task would naturally deter most scholars of economic history but not, thank goodness, Allan Meltzer."—Wall Street Journal
"A seminal work that anyone interested in the inner workings of the U. S. central bank should read. A work that scholars will mine for years to come."—John M. Berry, Washington Post
"An exceptionally clear story about why, as the ideas that actually informed policy evolved, things sometimes went well and sometimes went badly. . . . One can only hope that we do not have to wait too long for the second installment."—David Laidler, Journal of Economic Literature
"A thorough narrative history of a high order. Meltzer's analysis is persuasive and acute. His work will stand for a generation as the benchmark history of the world's most powerful economic institution. It is an impressive, even awe-inspiring achievement."—Sir Howard Davies, Times Higher Education Supplement
Allan H. Meltzer’s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution’s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury–Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system.
In rich detail, drawing on the Federal Reserve’s own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve’s independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data.
At a time when the United States finds itself in an unprecedented financial crisis, Meltzer’s fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.
Allan H. Meltzer’s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution’s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury–Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system.
In rich detail, drawing on the Federal Reserve’s own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve’s independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data.
At a time when the United States finds itself in an unprecedented financial crisis, Meltzer’s fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.
Informative, entertaining, and written for specialists and non-specialists alike, A History of the Global Stock Market is a worthy read for anyone who wants to understand the role of the stock market in the global economy.
The story of how the Utah Construction Company, founded in Ogden, Utah in 1900, became Utah International, a multinational corporation, is known to historians of the American West but perhaps not by the general public. The publication of this book remedies that omission.
During its first decades, the company built railroads and dams and was one of the Six Companies Consortium that built Hoover Dam. Utah Construction was also engaged in numerous war-contract activities during World War II. In the postwar period, the company expanded its activities into mining and land development and moved its headquarters to San Francisco. Changing its name to Utah Construction and Mining, and eventually to Utah International, the corporation became one of the most successful multinational mining companies in the world. In 1976, Utah International and General Electric negotiated the largest yet corporate merger in the United States.
Based on the Utah International archives housed in the Stewart Library at Weber State University, the story of Utah International describes more than projects: it is also the story of how two remarkable entrepreneurs, Marriner Stoddard Eccles and Edmund Wattis Littlefield, transformed the company incorporated in 1900 by the Wattis brothers into the largest and most profitable mining company in the United States.
Pitting fascists and communists in a showdown for supremacy, the Spanish Civil War has long been seen as a grim dress rehearsal for World War II. Francisco Franco’s Nationalists prevailed with German and Italian military assistance—a clear instance, it seemed, of like-minded regimes joining forces in the fight against global Bolshevism. In Hitler’s Shadow Empire Pierpaolo Barbieri revises this standard account of Axis intervention in the Spanish Civil War, arguing that economic ambitions—not ideology—drove Hitler’s Iberian intervention. The Nazis hoped to establish an economic empire in Europe, and in Spain they tested the tactics intended for future subject territories.
“The Spanish Civil War is among the 20th-century military conflicts about which the most continues to be published…Hitler’s Shadow Empire is one of few recent studies offering fresh information, specifically describing German trade in the Franco-controlled zone. While it is typically assumed that Nazi Germany, like Stalinist Russia, became involved in the Spanish Civil War for ideological reasons, Pierpaolo Barbieri, an economic analyst, shows that the motives of the two main powers were quite different.
—Stephen Schwartz, Weekly Standard
The development of antilock braking systems (ABS) provides an ideal case study for examining the process of engineering design because it presented an array of common difficulties faced by engineers in research and development. ABS did not develop predictably. Research and development took place in both the public and private sectors and involved individuals working in different disciplines, languages, institutions, and corporations. Johnson traces ABS development from its first patents in the 1930s to the successful 1978 market introduction of integrated ABS by Daimler and Bosch. She examines how a knowledge community first formed around understanding the phenomenon of skidding, before it turned its attention to building instruments to measure, model, and prevent cars’ wheels from locking up. While corporations’ accounts of ABS development often present a simple linear story, Hitting the Brakes describes the full social and cognitive complexity and context of engineering design.
By the early 1960s, Jimmy Hoffa had a stranglehold on the presidency of the Teamsters Union. However, his nemesis, Attorney General Robert F. Kennedy, was convinced that Hoffa was a corrupt force whose heavy-handed influence over the union threatened the nation. As Attorney General, Kennedy established a “Get Hoffa Squad” that set out to unearth criminal wrongdoing by the labor leader in order to remove him from power. A number of criminal trials in the 1950s and early 1960s resulted in not-guilty verdicts for Hoffa. Matters would finally come to head in Chattanooga, Tennessee, in a climatic, but often overlooked, historical moment chronicled by Maury Nicely in this engrossing book.
After a Christmastime 1962 acquittal in Nashville of charges that Hoffa had illegally received funds from a trucking company in exchange for settling a costly strike, it was discovered that several attempts had been made to bribe jurors. Fresh charges of jury tampering in that case were quickly filed against Hoffa and five others. Moved to Chattanooga, the new trial was held before a young, relatively untested federal judge named Frank Wilson. The six-week courtroom conflict would devolve into a virtual slugfest in which the defense team felt was necessary to turn its ire against Wilson, hoping to provoke an error and cause a mistrial. As Nicely shows in vivid detail, Hoffa’s Chattanooga trial became the story of a lone, embattled judge struggling mightily to control a legal proceeding that teetered on the edge of bedlam, threatening to spin out of control. In the end, Hoffa was convicted-an extraordinary change of fortune that presaged his downfall and mysterious disappearance a decade later.
In examining how justice prevailed in the face of a battering assault on the judicial system, Hoffa in Tennessee demonstrates how a Chattanooga courtroom became a crucial tipping point in Jimmy Hoffa’s career, the beginning of the end for a man long perceived as indomitable.
Author and journalist Lynn Waltz reveals how these aggressive tactics went unchecked for years until Sherri Buffkin, a higher-up manager at Smithfield, blew the lid off the company’s corrupt practices. Through meticulous reporting, in-depth interviews with key players, and a mind for labor and environmental histories, Waltz weaves a fascinating tale of the nearly two-decade struggle that eventually brought justice to the workers and accountability to the food giant, pitting the world’s largest slaughterhouse against the world’s largest meatpacking union.
Following in a long tradition of books that expose the horrors of the meatpacking industry—from Upton Sinclair’s The Jungle to Eric Schlosser’s Fast Food Nation—Hog Wild uncovers rampant corporate environmental hooliganism, labor exploitation, and union-busting by one of the nation’s largest meat producers. Waltz’s eye-opening examination sheds new light on the challenges workers face not just in meatpacking, but everywhere workers have lost their power to collectively bargain with powerful corporations.
Farmers, who own or rent most of the private land in America, hold the key not only to the nation's food supply, but also to managing community growth, maintaining an attractive landscape, and protecting water and wildlife resources.
While the issue of protecting farmland and open space is not new, the intensity of the challenge has increased. Farmers are harder pressed to make a living, and rural and suburban communities are struggling to accommodate increasing populations and the development that comes with them. Holding Our Ground can help landowners and communities devise and implement effective strategies for protecting farmland. The book:
- discusses the reasons for protecting farmland and how to make those reasons widely known and understood
- describes the business of farming, federal government farm programs, and the role of land in farmers's decisions
- analyzes federal, state, and local farmland protection efforts and techniques
- explores a variety of land protection options including purchase of development rights; transfer of development rights; private land trusts; and financial, tax, and estate planning
- reviews the strengths and weaknesses of the farmland protection tools available
Holding Our Ground provides citizens, elected officials, planners, and landowners with a solid basis for understanding the issues behind farmland protection, and will be an invaluable resource in developing techniques and programs for achieving long-term protection goals.
In 1982, 20,000 Chinese-American garment workers—most of them women—went on strike in New York City. Every Chinese garment industry employer in the city soon signed a union contract. The successful action reflected the ways women's changing positions within their families and within the workplace galvanized them to stand up for themselves.
Xiaolan Bao's now-classic study penetrates to the heart of Chinese American society to explain how this militancy and organized protest, seemingly so at odds with traditional Chinese female behavior, came about. Drawing on more than one hundred interviews, Bao blends the poignant personal stories of Chinese immigrant workers with the interwoven history of the garment industry and the city's Chinese community. Bao shows how the high rate of married women employed outside the home profoundly transformed family culture and with it the image and empowerment of Chinese American women. At the same time, she offers a complex and subtle discussion of the interplay of ethnic and class factors within New York's garment industry.
Passionately told and prodigiously documented, Holding Up More Than Half the Sky examines the journey of a community's women through an era of change in the home, on the shop floor, and walking the picket line.
an excellent introduction to a most important subject. This is an invaluable
work for both scholars and students that places film, radio, and television
within the context of the national culture experience."
--- American Historical Review
"Hilmes is one of the few historians
of broadcasting to move beyond a political economy of the media. . . . Her work
should serve as a model for future histories of broadcasting."
--- Journal of Communication
"All media historians will
find this work a critical addition to their bookshelves."
--- American Journalism
"A major addition to media
history literature."
--- Journalism History
Out-of-control costs. Box office bombs that should have been foreseen. A mania for sequels at the expense of innovation. Blockbusters of ever-diminishing merit. What other industry could continue like this--and succeed as spectacularly as Hollywood has? The American movie industry's extraordinary success at home and abroad--in the face of dire threats from broadcast television and a wealth of other entertainment media that have followed--is David Waterman's focus in this book, the first full-length economic study of the movie industry in over forty years.
Combining historical and economic analysis, Hollywood's Road to Riches shows how, beginning in the 1950s, a largely predictable business has been transformed into a volatile and complex multimedia enterprise now commanding over 80 percent of the world's film business. At the same time, the book asks how the economic forces leading to this success--the forces of audience demand, technology, and high risk--have combined to change the kinds of movies Hollywood produces.
Waterman argues that the movie studios have multiplied their revenues by effectively using pay television and home video media to extract the maximum amounts that individual consumers are willing to pay to watch the same movies in different venues. Along the way, the Hollywood studios have masterfully handled piracy and other economic challenges to the multimedia system they use to distribute movies.
The author also looks ahead to what Internet file sharing and digital production and distribution technologies might mean for Hollywood's prosperity, as well as for the quality and variety of the movies it makes.
Leora Bilsky argues class action litigation and settlement offer a mode of accountability well suited to addressing the bureaucratic nature of business involvement in atrocities. Prior to these lawsuits, legal treatment of the Holocaust was dominated by criminal law and its individualistic assumptions, consistently failing to relate to the structural aspects of Nazi crimes. Engaging critically with contemporary debates about corporate responsibility for human rights violations and assumptions about “law,” she argues for the need to design processes that make multinational corporations accountable, and examines the implications for transitional justice, the relationship between law and history, and for community and representation in a post-national world. Her novel interpretation of the restitution lawsuits not only adds an important dimension to the study of Holocaust trials, but also makes an innovative contribution to broader and pressing contemporary legal and political debates. In an era when corporations are ever more powerful and international, Bilsky’s arguments will attract attention beyond those interested in the Holocaust and its long shadow.
In 1997 the United Kingdom returned control of Hong Kong to China, ending the city’s status as one of the last remnants of the British Empire and initiating a new phase for it as both a modern city and a hub for global migrations. Hong Kong is a tour of the city’s postcolonial urban landscape, innovatively told through fieldwork and photography.
Caroline Knowles and Douglas Harper’s point of entry into Hong Kong is the unusual position of the British expatriates who chose to remain in the city after the transition. Now a relatively insignificant presence, British migrants in Hong Kong have become intimately connected with another small minority group there: immigrants from Southeast Asia. The lives, journeys, and stories of these two groups bring to life a place where the past continues to resonate for all its residents, even as the city hurtles forward into a future marked by transience and transition. By skillfully blending ethnographic and visual approaches, Hong Kong offers a fascinating guide to a city that is at once unique in its recent history and exemplary of our globalized present.
Historians have long assumed that new industrial machines and power sources eliminated work animals from nineteenth-century America, yet a bird’s-eye view of nineteenth-century society would show millions of horses supplying the energy necessary for industrial development. Horses were ubiquitous in cities and on farms, providing power for transportation, construction, manufacturing, and agriculture. On Civil War battlefields, thousands of horses labored and died for the Union and the Confederacy hauling wagons and mechanized weaponry.
The innovations that brought machinery to the forefront of American society made horses the prime movers of these machines for most of the nineteenth century. Mechanization actually increased the need for horsepower by expanding the range of tasks requiring it. Indeed, the single most significant energy transition of the antebellum era may have been the dramatic expansion in the use of living, breathing horses as a power technology in the development of industrial America.
Ann Greene argues for recognition of horses’ critical contribution to the history of American energy and the rise of American industrial power, and a new understanding of the reasons for their replacement as prime movers. Rather than a result of “inevitable” technological change, it was Americans’ social and political choices about power consumption that sealed this animal’s fate. The rise and fall of the workhorse was defined by the kinds of choices that Americans made and would continue to make—choices that emphasized individual mobility and autonomy, and assumed, above all, abundant energy resources.
The cost of hospital care has grown so rapidly in the past thirty years that it is threatening to bend our economy completely out of shape. A hospital bed that cost $16 per day in 1950 cost $214 per day by 1978—an increase of more than 1200 per cent! What is the cause of this fantastic inflation, which has been far higher than for any other major good or service? In this pathbreaking book, Martin Feldstein sets forth a novel explanation, provides empirical support for it, and suggests some remedies for the problem.
Feldstein demonstrates a complex relationship between the growing sophistication of hospital care, physician and patient demand, third-party insurance payments, and the tax treatment of insurance premiums. This last, he argues, is the key to the problem in that government policies stimulate the purchase of excessive insurance by a tax deduction and exclusion that cost the Treasury about $10 billion a year. To mitigate the increasingly severe burden of hospital costs, Feldstein recommends that this preferential tax treatment be ended. In its place, he proposes a new national health insurance plan that would give incentives to physicians and their patients to economize on costs and at the same time provide adequate coverage for major illnesses.
Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. More aggressive debt forgiveness after the crash helps, but as they illustrate, we can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place.
Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing the modern economy today: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?
Though the banking crisis captured the public’s attention, Mian and Sufi argue strongly with actual data that current policy is too heavily biased toward protecting banks and creditors. Increasing the flow of credit, they show, is disastrously counterproductive when the fundamental problem is too much debt. As their research shows, excessive household debt leads to foreclosures, causing individuals to spend less and save more. Less spending means less demand for goods, followed by declines in production and huge job losses. How do we end such a cycle? With a direct attack on debt, say Mian and Sufi. More aggressive debt forgiveness after the crash helps, but as they illustrate, we can be rid of painful bubble-and-bust episodes only if the financial system moves away from its reliance on inflexible debt contracts. As an example, they propose new mortgage contracts that are built on the principle of risk-sharing, a concept that would have prevented the housing bubble from emerging in the first place.
Thoroughly grounded in compelling economic evidence, House of Debt offers convincing answers to some of the most important questions facing the modern economy today: Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward?
Violet Crown Award, Writers League of Texas, 2007
Citation, San Antonio Conservation Society, 2009
Scarred by the deaths of his mother and sisters and the failure of his father's business, a young man dreamed of making enough money to retire early and retreat into the secure world that his childhood tragedies had torn from him. But Harry Luby refused to be a robber baron. Turning totally against the tide of avaricious capitalism, he determined to make a fortune by doing good. Starting with that unlikely, even naive, ambition in 1911, Harry Luby founded a cafeteria empire that by the 1980s had revenues second only to McDonald's. So successfully did Luby and his heirs satisfy the tastes of America that Luby's became the country's largest cafeteria chain, creating more millionaires per capita among its employees than any other corporation of its size. Even more surprising, the company stayed true to Harry Luby's vision for eight decades, making money by treating its customers and employees exceptionally well.
Written with the sweep and drama of a novel, House of Plenty tells the engrossing story of Luby's founding and phenomenal growth, its long run as America's favorite family restaurant during the post-World War II decades, its financial failure during the greed-driven 1990s when non-family leadership jettisoned the company's proven business model, and its recent struggle back to solvency. Carol Dawson and Carol Johnston draw on insider stories and company records to recapture the forces that propelled the company to its greatest heights, including its unprecedented practices of allowing store managers to keep 40 percent of net profits and issuing stock to all employees, which allowed thousands of Luby's workers to achieve the American dream of honestly earned prosperity. The authors also plumb the depths of the Luby's drama, including a hushed-up theft that split the family for decades; the 1991 mass shooting at the Killeen Luby's, which splattered the company's good name across headlines nationwide; and the rapacious over-expansion that more than doubled the company's size in nine years (1987-1996), pushed it into bankruptcy, and drove president and CEO John Edward Curtis Jr. to violent suicide.
Disproving F. Scott Fitzgerald's adage that "there are no second acts in American lives," House of Plenty tells the epic story of an iconic American institution that has risen, fallen, and found redemption—with no curtain call in sight.
With Housekeeping by Design, David Brody introduces us to those people—the housekeepers whose labor keeps the rooms clean and the guests happy. Through unprecedented access to staff at several hotels, Brody shows us just how much work goes on behind the scenes—and how much management goes out of its way to make sure that labor stays hidden. We see the incredible amount of hard physical work that is involved in cleaning and preparing a room, how spaces, furniture, and other objects are designed to facilitate a smooth flow of hidden labor, and, crucially, how that design could be improved for workers and management alike if front-line staff were involved in the design process. After reading this fascinating exposé of the ways hotels work—or don’t for housekeepers—one thing is certain: checking in will never be the same again.
This volume begins to answer these questions, providing a much-needed context for understanding recent events by examining how historical housing and mortgage markets worked—and how they sometimes failed. Renowned economic historians Eugene N. White, Kenneth Snowden, and Price Fishback survey the foundational research on housing crises, comparing that of the 1930s to that of the early 2000s in order to authoritatively identify what contributed to each crisis. Later chapters explore notable historical experiences with mortgage securitization and the role that federal policy played in the surge in home ownership between 1940 and 1960. By providing a broad historical overview of housing and mortgage markets, the volume offers valuable new insights to inform future policy debates.
This book assesses the effects of spatially concentrated programs for housing and neighborhood improvement. These programs provide direct assistance to low–income property owners in an attempt to arrest neighborhood decline and encourage revitalization.
The authors used the Harvard Urban Development Simulation Model (HUDS) in evaluating these programs. HUDS, a large–scale computer model, represents the process of housing rehabilitation, the production and consumption of housing services, household moving decisions, and other determinant of neighborhood change. The model simulates the behavior of approximately 80,000 individual households in two hundred residential neighborhoods of various quality levels. Unlike more aggregate models of urban development, HUDS has the capacity to identify how specific housing policies affect individual households as well as particular neighborhoods.
Since program evaluations are no better than the models on which they are based, the authors provide sufficient detail to permit those readers primarily interested in the policy analysis to assess the methodology and to understandhow the policies are represented in the model; a more technical discussion of the model is then presented in appendixes.
Although the simulations focus on policies that induce central–city property owners to upgrade their properties and thus stimulate revitalization, many of the authors' findings are relevant to larger issues of urban development. For example, the analysis of how housing rehabilitation subsidies affect the investment behavior of nonsubsidized property owners provides insights about the link between initial upgrading and sustained neighborhood improvement. The analysis also demonstrates how differences in location, household, and housing stock characteristics affect a particular neighborhood’s responsiveness to a common policy initiative.
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