As companies increasingly look to the global market for capital, cheaper commodities and labor, and lower production costs, the impact on Mexican and American workers and labor unions is significant. National boundaries and the laws of governments that regulate social relations between laborers and management are less relevant in the era of globalization, rendering ineffective the traditional union strategies of pressuring the state for reform.
Focusing especially on the effects of the North American Free Trade Agreement and the North American Agreement on Labor Cooperation (the first international labor agreement linked to an international trade agreement), Norman Caulfield notes the waning political influence of trade unions and their disunity and divergence on crucial issues such as labor migration and workers' rights. Comparing the labor movement's fortunes in the 1970s with its current weakened condition, Caulfield notes the parallel decline in the United States' hegemonic influence in an increasingly globalized economy. As a result, organized labor has been transformed from organizations that once pressured management and the state for worker concessions to organizations that now request that workers concede wages, pensions, and health benefits to remain competitive in the global marketplace.
The most common social phenomenon of Western societies is the organization, yet those
involved in real-world managing are not always willing to reveal the intricacies of their
everyday muddles. Barbara Czarniawska argues that in order to understand these uncharted
territories, we need to gather local and concrete stories about organizational life and subject
them to abstract and metaphorical interpretation.
Using a narrative approach unique to organizational studies, Czarniawska employs literary
devices to uncover the hidden workings of organizations. She applies cultural metaphors to
public administration in Sweden to demonstrate, for example, how the dynamics of a
screenplay can illuminate the budget disputes of an organization. She shows how the
interpretive description of organizational worlds works as a distinct genre of social analysis,
and her investigations ultimately disclose the paradoxical nature of organizational life: we follow
routines in order to change, and decentralize in order to control. By confronting such
paradoxes, we bring crisis to existing institutions and enable them to change.
Prior to the Civil War, the United States did not have a single, national currency. Counterfeiters flourished amid this anarchy, putting vast quantities of bogus bills into circulation. Their success, Mihm reveals, is more than an entertaining tale of criminal enterprise: it is the story of the rise of a country defined by freewheeling capitalism and little government control. Mihm shows how eventually the older monetary system was dismantled, along with the counterfeit economy it sustained.
How is it that in the twentieth century virtually all Americans came to think of themselves as “middle class”? In this cultural history of real estate brokerage, Jeffrey M. Hornstein argues that the rise of the Realtors as dealers in both domestic space and the ideology of home ownership provides tremendous insight into this critical question. At the dawn of the twentieth century, a group of prominent real estate brokers attempted to transform their occupation into a profession. Drawing on traditional notions of the learned professions, they developed a new identity—the professional entrepreneur—and a brand name, “Realtor.” The Realtors worked doggedly to make home ownership a central element of what became known as the “American dream.” Hornstein analyzes the internal evolution of the occupation, particularly the gender dynamics culminating in the rise of women brokers to predominance after the Second World War. At the same time, he examines the ways organized real estate brokers influenced American housing policy throughout the century.
Hornstein draws on trade journals, government documents on housing policy, material from the archives of the National Association of Realtors and local real estate boards, demographic data, and fictional accounts of real estate agents. He chronicles the early efforts of real estate brokers to establish their profession by creating local and national boards, business practices, ethical codes, and educational programs and by working to influence laws from local zoning ordinances to national housing policy. A rich and original work of American history, A Nation of Realtors® illuminates class, gender, and business through a look at the development of a profession and its enormously successful effort to make the owner-occupied, single-family home a key element of twentieth-century American identity.
The Only Time America Was Free of Debt—and How It Led to the Two-Party Political System
“An engaging treatment of a topic of perennial concern and frequent misunderstanding, this lucid tale of the brief moment when the United States was debt-free should be on every Congress member’s bedside table.”—Peter J.Woolley, Professor of Comparative Politics, Fairleigh Dickinson University
When President James Monroe announced in his 1824 message to Congress that, barring an emergency, the large public debt inherited from the War for Independence, the Louisiana Purchase, and the War of 1812 would be extinguished on January 1, 1835, Congress responded by crafting legislation to transform that prediction into reality. Yet John Quincy Adams,Monroe’s successor, seemed not to share the commitment to debt freedom, resulting in the rise of opposition to his administration and his defeat for reelection in the bitter presidential campaign of 1828. The new president, Andrew Jackson, was thoroughly committed to debt freedom, and when it was achieved, it became the only time in American history when the country carried no national debt. In A Nation Wholly Free: The Elimination of the National Debt in the Age of Jackson, award-winning economic historian Carl Lane shows that the great and disparate issues that confronted Jackson, such as internal improvements, the “war” against the Second Bank of the United States, and the crisis surrounding South Carolina’s refusal to pay federal tariffs, become unified when debt freedom is understood as a core element of Jacksonian Democracy.
The era of debt freedom lasted only two years and ten months. As the government accumulated a surplus, a fully developed opposition party emerged—the beginning of our familiar two-party system—over rancor about how to allocate the newfound money. Not only did government move into an oppositional party system at this time, the debate about the size and role of government distinguished the parties in a pattern that has become familiar to Americans. The partisan debate over national debt and expenditures led to poorly thought out legislation, forcing the government to resume borrowing. As a result, after Jackson left office in 1837, the country fell into a major depression. Today we confront a debt that exceeds $17 trillion. Indeed, we have been borrowing ever since that brief time we freed ourselves from an oversized debt. A thoughtful, engaging account with strong relevance to today, A Nation Wholly Free is the fascinating story of an achievement that now seems fanciful.
Our planet is threatened by a mistaken confidence in erroneously calculated growth. The term “economic growth” can only mean an increase in human welfare, but it is often wrongly identified with production growth that may in fact be destructive to the environment. Thus, while the measures of standard National Income (NI) or Gross Domestic Product (GDP) are useful for many purposes, they are inadequate in guiding environmental policy making. This book develops the corrective concept of an environmentally Sustainable National Income (eSNI). eSNI is defined as the maximally attainable level of production, using the technology of the year under review, whereby the vital environmental functions (possible uses) of the not-human-made physical surroundings remain available for future generations. In order to accurately judge environmental sustainability, the authors show, NI and eSNI must be addressed jointly. Drawing on data from the Netherlands from 1990 to 2015, the authors demonstrate the effectiveness of eSNI and argue that national statistical bureaus around the world should provide this measure to their own policymakers, so that policymaking across the globe might be informed by sound information about both national economies and the global environment.
In what constitutes a landmark in the field of national accounts, Raymond W. Goldsmith gives detailed estimates of the nation's assets and liabilities year by year from 1953 through 1975 and for the benchmark years of 1900, 1929, and 1980. Special features of this work include presentation of data sector by sector, which casts light on the changing roles of financial institutions, and Goldsmith's expression of data in the form of ratios rather than in absolute dollar values, a device that makes the material both more informative and easier to absorb.
The most comprehensive and extensive study of national wealth ever attempted, The National Balance Sheet will be a rich resource for researchers and users of national accounts.
Intercollegiate sports is an enterprise that annually grosses over $1 billion in income. Some schools receive more than $20 million from athletic programs, perhaps as much as $10 million simply from the sale of football tickets.
Probing the history and business practices of the most powerful sports organization of colleges and universities in the United States, the authors present a persuasive case that the NCAA is in fact a cartel, its members engaged in classically defined restrictive practices for the sole purpose of jointly maximizing their profits.
This fresh perspective on the NCAA's institutional structure helps to explain why illicit payments to athletes persist, why non-NCAA organizations have not flourished, and why members have readily agreed on certain suspect rules.
Offering a valuable case study for sports analysts and students of economics and cartel behavior, this book is a revealing glimpse inside the embattled NCAA program.
In the wake of the American Revolution, if you had asked a citizen whether his fledgling state would survive more than two centuries, the answer would have been far from confident. The problem, as is so often the case, was money. Left millions of dollars of debt by the war, the nascent federal government created a system of taxes on imported goods and installed custom houses at the nation’s ports, which were charged with collecting these fees. Gradually, the houses amassed enough revenue from import merchants to stabilize the new government. But, as the fragile United States was dependent on this same revenue, the merchants at the same time gained outsized influence over the daily affairs of the custom houses. As the United States tried to police this commerce in the early nineteenth century, the merchants’ stranglehold on custom house governance proved to be formidable.
In National Duties, Gautham Rao makes the case that the origins of the federal government and the modern American state lie in these conflicts at government custom houses between the American Revolution and the presidency of Andrew Jackson. He argues that the contours of the government emerged from the push-and-pull between these groups, with commercial interests gradually losing power to the administrative state, which only continued to grow and lives on today.
This volume constitutes the final, general report of the comprehensive research conducted by the Upper Midwest Economic Study, a joint undertaking of the Upper Midwest Research and Development Council and the University of Minnesota. The authors present a detailed analysis of the economy of the Upper Midwest, the region coincident with the Ninth Federal Reserve District, which includes Montana, North Dakota, South Dakota, Minnesota, twenty-six counties in northwestern Wisconsin, and Michigan’s Upper Peninsula.
The present study analyzes the region’s past economic growth, its current structure, and possible future development. The region’s initial economic growth was based upon its natural resources—land, forest, and minerals. Today productivity growth is increasing more rapidly than demand in most of these sectors. Hence, total employment opportunities in resource-based industries are declining. Future employment growth generally must be based on the region’s advantage in human resources. This is the challenge for economic growth in the Upper Midwest. The same challenge exists on a nation-wide basis, but the severity of transition away from natural resources industries is greater in the Upper Midwest because of its above-average reliance on such industries.
The authors analyze economic change in the region from 1950 to 1960 and possible future development through 1975, with projections of employment, income, population, and migration for 1975. The projections, based on an assumption of no new action to facilitate economic growth in the region, serve mainly as a departure point for the analysis of regional policy and action.
Protecting land in parks is often seen as coming at the expense of rural economic development. Yet recent events such as the contentious debate over the development of Canyon Forest Village on the south rim of the Grand Canyon suggest just the opposite: healthy natural systems can be enormously valuable to rural economies.National Parks and Rural Development offers a thorough examination of the interdependent roles of national parks and the economies of rural communities in the United States. Bringing together the thinking and views of economists, historians, sociologists, recreation researchers, and park managers, the book considers how those roles can be most effectively managed, as it offers: a wide-ranging review of history and important concepts in rural development and parks management five case studies of rural development near national parks that identify lessons learned, principles applied, mistakes committed, and advances made personal essays from leaders in the parks management field For each section, the editors offer introductory discussions that provide context and highlight key points. The editors also provide a detailed conclusion which summarizes policy implications and presents specific recommendations for improving rural development and park management policies.Case studies include: Cape Cod National Seashore, Alaskan parks and wilderness areas, Yellowstone National Park, the Grand Canyon, and three parks in the Pacific Northwest (Mt. Rainier, Olympic, and North Cascades).ational Parks and Rural Development is a unique synthesis and guide to solving conflicts between the needs of human communities and nature near federal lands. It will be an important work for agency personnel, nongovernmental organizations, and students and scholars of rural economic development, public policy, environmental economics, and related fields.
The past decade has witnessed a decline in saving throughout the developed world—the United States has the dubious distinction of leading the way. The consequences can be serious. For individuals, their own economic security and that of their families is jeopardized. For society, inadequate rates of saving have been blamed for a variety of ills—decreasing the competitive abilities of American industry, slowing capital accumulation, increasing our trade deficit, and forcing the sale of capital stock to foreign investors at bargain prices. Restoring acceptable rates of saving in the United States poses a major challenge to those who formulate national economic policy, especially since economists and policymakers alike still understand little about what motivates people to save.
In National Saving and Economic Performance, edited by B. Douglas Bernheim and John B. Shoven, that task is addressed by offering the results of new research, with recommendations for policies aimed to improve saving. Leading experts in diverse fields of economics debate the need for more accurate measurement of official saving data; examine how corporate decisions to retain or distribute earnings affect household-level consumption and saving; and investigate the effects of taxation on saving behavior, correlations between national saving and international investment over time, and the influence of economic growth on saving.
Presenting the most comprehensive and up-to-date research on saving, this volume will benefit both academic and government economists.
In the Andean city of Otavalo, Ecuador, a cultural renaissance is now taking place against a backdrop of fading farming traditions, transnational migration, and an influx of new consumer goods. Recently, Otavalenos have transformed their textile trade into a prosperous tourist industry, exporting colorful weavings around the world.
Tracing the connections among newly invented craft traditions, social networks, and consumption patterns, Rudi Colloredo-Mansfeld highlights the way ethnic identities and class cultures materialize in a sensual world that includes luxurious woven belts, powerful stereos, and garlic roasted cuyes (guinea pigs). Yet this case reaches beyond the Andes. He shows how local and global interactions intensify the cultural expression of the world's emerging "native middle classes," at times leaving behind those unable to afford the new trappings of indigenous identity.
Colloredo-Mansfeld also comments on his experiences working as an artist in Otavalo. His drawings, along with numerous photographs, animate this engaging study in economic anthropology.
How has American Indians' participation in the broader market - as managers of casinos, negotiators of oil leases, or commercial fishermen - challenged the U.S. paradigm of economic development? Have American Indians paid a cultural price for the chance at a paycheck? How have gender and race shaped their experiences in the marketplace? Contributors to Native Pathways ponder these and other questions, highlighting how indigenous peoples have simultaneously adopted capitalist strategies and altered them to suit their own distinct cultural beliefs and practices. Including contributions from historians, anthropologists, and sociologists, Native Pathways offers fresh viewpoints on economic change and cultural identity in twentieth-century Native American communities. Foreword by Donald L. Fixico.
References to the economy are ubiquitous in modern life, and virtually every facet of human activity has capitulated to market mechanisms. In the early modern period, however, there was no common perception of the economy, and discourses on money, trade, and commerce treated economic phenomena as properties of physical nature. Only in the early nineteenth century did economists begin to posit and identify the economy as a distinct object, divorcing it from natural processes and attaching it exclusively to human laws and agency.
In The Natural Origins of Economics, Margaret Schabas traces the emergence and transformation of economics in the eighteenth and nineteenth centuries from a natural to a social science. Focusing on the works of several prominent economists—David Hume, Adam Smith, Thomas Malthus, David Ricardo, and John Stuart Mill—Schabas examines their conceptual debt to natural science and thus locates the evolution of economic ideas within the history of science. An ambitious study, The Natural Origins of Economics will be of interest to economists, historians, and philosophers alike.
China’s westernmost province of Xinjiang has experienced escalating cycles of violence, interethnic strife, and state repression since the 1990s. In their search for the roots of these growing tensions, scholars have tended to focus on ethnic clashes and political disputes. In Natural Resources and the New Frontier, historian Judd C. Kinzley takes a different approach—one that works from the ground up to explore the infrastructural and material foundation of state power in the region.
As Kinzley argues, Xinjiang’s role in producing various natural resources for regional powers has been an important but largely overlooked factor in fueling unrest. He carefully traces the buildup to this unstable situation over the course of the twentieth century by focusing on the shifting priorities of Chinese, Soviet, and provincial officials regarding the production of various resources, including gold, furs, and oil among others. Through his archival work, Kinzley offers a new way of viewing Xinjiang that will shape the conversation about this important region and offer a model for understanding the development of other frontier zones in China as well as across the global south.
In this inaugural volume of the Alexis de Tocqueville Lectures, James Ceaser traces the way certain "foundational" ideas—including nature, history, and religion—have been understood and used over the course of American history. Ceaser treats these ideas as elements of political discourse that provide the ground for other political ideas, such as liberty or equality. Three critical commentators challenge Ceaser's arguments, and a spirited debate about large and enduring questions in American politics ensues.
In recent years, scientists have begun to focus on the idea that healthy, functioning ecosystems provide essential services to human populations, ranging from water purification to food and medicine to climate regulation. Lacking a healthy environment, these services would have to be provided through mechanical means, at a tremendous economic and social cost.Nature and the Marketplace examines the controversial proposition that markets should be designed to capture the value of those services. Written by an economist with a background in business, it evaluates the real prospects for various of nature's marketable services to "turn profits" at levels that exceed the profits expected from alternative, ecologically destructive, business activities. The author: describes the infrastructure that natural systems provide, how we depend on it, and how we are affecting it explains the market mechanism and how it can lead to more efficient resource use looks at key economic activities -- such as ecotourism, bioprospecting, and carbon sequestration -- where market forces can provide incentives for conservation examines policy options other than the market, such as pollution credits and mitigation banking considers the issue of sustainability and equity between generations .Nature and the Marketplace presents an accessible introduction to the concept of ecosystem services and the economics of the environment. It offers a clear assessment of how market approaches can be used to protect the environment, and illustrates that with a number of cases in which the value of ecosystems has actually been captured by markets.The book offers a straightforward business economic analysis of conservation issues, eschewing romantic notions about ecosystem preservation in favor of real-world economic solutions. It will be an eye-opening work for professionals, students, and scholars in conservation biology, ecology, environmental economics, environmental policy, and related fields.
A nuanced look at how nature has been culturally constructed in South and Southeast Asia, Nature in the Global South is a major contribution to understandings of the politics and ideologies of environmentalism and development in a postcolonial epoch. Among the many significant paradigms for understanding both the preservation and use of nature in these regions are biological classification, state forest management, tropical ecology, imperial water control, public health, and community-based conservation. Focusing on these and other ways that nature has been shaped and defined, this pathbreaking collection of essays describes projects of exploitation, administration, science, and community protest.
With contributors based in anthropology, ecology, sociology, history, and environmental and policy studies, Nature in the Global South features some of the most innovative and influential work being done in the social studies of nature. While some of the essays look at how social and natural landscapes are created, maintained, and transformed by scientists, officials, monks, and farmers, others analyze specific campaigns to eradicate smallpox and save forests, waterways, and animal habitats. In case studies centered in the Philippines, India, Pakistan, Thailand, Indonesia, and South and Southeast Asia as a whole, contributors examine how the tropics, the jungle, tribes, and peasants are understood and transformed; how shifts in colonial ideas about the landscape led to extremely deleterious changes in rural well-being; and how uneasy environmental compromises are forged in the present among rural, urban, and global allies.
Contributors: Warwick Anderson Amita Baviskar Peter Brosius Susan Darlington Michael R. Dove Ann Grodzins Gold Paul Greenough Roger Jeffery Nancy Peluso K. Sivaramakrishnan Nandini Sundar Anna Lowenhaupt Tsing Charles Zerner
The nostalgic mist surrounding farms can make it hard to write their history, encrusting them with stereotypical rural virtues and unrealistically separating them from markets, capitalism, and urban influences. The Nature of the Future aims to remake this staid vision. Emily Pawley examines a place and period of enormous agricultural vitality—antebellum New York State—and follows thousands of “improving agriculturists,” part of the largest, most diverse, and most active scientific community in nineteenth-century America. Pawley shows that these improvers practiced a kind of science hard for contemporary readers to recognize, in which profit was not only a goal but also the underlying purpose of the natural world. Far from producing a more rational vision of nature, northern farmers practiced a form of science where conflicting visions of the future landscape appeared and evaporated in quick succession. Drawing from environmental history, US history and the history of science, and extensively mining a wealth of antebellum agricultural publications, The Nature of the Future uncovers the rich loam hiding beneath ostensibly infertile scholarly terrain, revealing a surprising area of agricultural experimentation that transformed American landscapes and American ideas of expertise, success, and exploitation.
What is nature worth? The answer to this question—which traditionally has been framed in environmental terms—is revolutionizing the way we do business.
In Nature’s Fortune, Mark Tercek, CEO of The Nature Conservancy and former investment banker, and science writer Jonathan Adams argue that nature is not only the foundation of human well-being, but also the smartest commercial investment any business or government can make. The forests, floodplains, and oyster reefs often seen simply as raw materials or as obstacles to be cleared in the name of progress are, in fact as important to our future prosperity as technology or law or business innovation.
Who invests in nature, and why? What rates of return can it produce? When is protecting nature a good investment? With stories from the South Pacific to the California coast, from the Andes to the Gulf of Mexico and even to New York City, Nature’s Fortune shows how viewing nature as green infrastructure allows for breakthroughs not only in conservation—protecting water supplies; enhancing the health of fisheries; making cities more sustainable, livable, and safe; and dealing with unavoidable climate change—but in economic progress, as well. Organizations obviously depend on the environment for key resources—water, trees, and land. But they can also reap substantial commercial benefits in the form of risk mitigation, cost reduction, new investment opportunities, and the protection of assets. Once leaders learn how to account for nature in financial terms, they can incorporate that value into the organization’s decisions and activities, just as habitually as they consider cost, revenue, and ROI.
A must-read for business leaders, CEOs, investors, and environmentalists alike, Nature’s Fortune offers an essential guide to the world’s economic—and environmental—well-being.
The distinguished International Seminar on Macroeconomics (ISoM) has met annually in Europe for thirty years. The papers included in ISoM 2006 discuss the relationship between prices and productivity in the OECD; monetary policy impact on inflation and output; implications of rising government debt; the relationship between consumption and labor market tightness; variation in real wages over the business-cycle; production sharing and business cycle synchronization in the accession countries; and pension systems and the allocation of macroeconomic risk.
The distinguished International Seminar on Macroeconomics (ISoM) has met annually in Europe for thirty years. The papers in ISoM 2007 discuss interest setting and central bank transparency; expectations, monetary policy, and traded goods prices; public investment and the golden rule; the role of institutions, confidence, and trust in financial integration within EU countries; international portfolios with supply, demand, and redistributive shocks; transmission and stabilization in closed and open economies; capital flows and asset prices; and welfare implications of financial globalization without financial development.
The distinguished International Seminar on Macroeconomics has met annually in Europe for thirty years. The papers in the 2007 volume discuss interest-setting and central bank transparency; expectations, monetary policy, and traded good prices; public investment and the golden rule; the role of institutions, confidence, and trust in financial integration within EU countries; international portfolios with supply, demand, and redistributive shocks; transmission and stabilization in closed and open economies; capital flows and asset prices; and welfare implications of financial globalization without financial development. The 2008 papers discuss the employment effects of workweek regulation in France; trade pricing effects of the Euro; reflections on monetary policy in the open economy; firm-size distribution and cross-country income differences; and exchange rates and the margin of trade.
The distinguished International Seminar on Macroeconomics (ISoM) has met annually in Europe for thirty years. The papers included in this volume discuss openness and the fall and rise of stock market correlations between 1890 and 2001; defaults, underwriters and sovereign bond markets between 1815 and 2007; systemic risk taking and the U.S. financial crisis; the Feldstein-Horioka fact, nontradable goods' real exchange rate puzzle; and assessing external equilibrium in low income countries.
The distinguished International Seminar on Macroeconomics has met annually in Europe for over thirty years. The topics covered in this year’s volume fall into four categories: exchange rates, global business cycles, the financial crisis, and unemployment and the Great Recession. The chapters include a study of capital-account policies that are sometimes used to peg the real exchange rate, and an analysis of panel data from OECD countries that characterizes and explains movements in house prices. Other studies explore central issues to the financial crisis, such as its impact on trade flows, the effects of official bailouts, and the nature and evolution of unemployment during the Great Recession.
The NBER Macroeconomics Annual provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy that include leading economists from a variety of fields. The papers and accompanying discussions in NBER Macroeconomics Annual 2007 address exchange-rate models; implications of credit market frictions; cyclical budgetary policy and economic growth; the impacts of shocks to government spending on consumption, real wages, and employment; dynamic macroeconomic models; and the role of cyclical entry of new firms and products on the nature of business-cycle fluctuations and on the effects of monetary policy.
The NBER Macroeconomics Annual provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy. . The papers and accompanying discussions in NBER Macroeconomics Annual 2008, which
include contributions from leading economists from a variety of fields,address the timing of labor market expansions, macroeconomic dynamics in the Euro area, public health and the GDP, the role of technological progress on the formation of households, carry trades and currency crises, and new approaches to analyzing monetary policy.
The NBER Macroeconomics Annual provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy that include leading economists from a variety of fields. The papers and accompanying discussions in NBER Macroeconomics Annual 2009 address how heterogeneous beliefs interact with equilibrium leverage and potentially lead to leverage cycles, the validity of alternative hypotheses about the reason for the recent increase in foreclosures on residential mortgages, the credit rating crisis, quantitative implications for the evolution of the U.S. wage distribution, and noisy business cycles.
The twenty-seventh edition of the NBER Macroeconomics Annual continues a tradition of featuring theoretical and empirical contributions that shed light on central issues in contemporary macroeconomics, pushing the frontiers of macroeconomic research on topics related to both the business cycle and economic growth and addressing important policy-relevant questions. This year’s volume features two papers that illuminate two causes of the recent financial crisis: how firms accessed credit during the financial crisis and how the risk in mortgage lending was measured in the UK in the decades before the crisis. Other papers in this volume include a study of individual prices over time that draws out the implications of observed price adjustment for macroeconomic models of price stickiness, a focus on the implications of microeconomic estimates of labor supply for the determination of employment rates, a study of the empirical validity of the Keynesian explanation for employment declines during recessions, and an innovative paper that measures the efficacy of fiscal stimulus by looking at the economic impact of changes in federal highway spending across US states.
The twenty-eighth edition of the NBER Macroeconomics Annual continues its tradition of featuring theoretical and empirical research on central issues in contemporary macroeconomics. As in previous years, this volume not only addresses recent developments in macroeconomics, but also takes up important policy-relevant questions and opens new debates that will continue for years to come. The first two papers in this year’s issue tackle fiscal and monetary policy, asking how interest rates and inflation can remain low despite fiscal policy behavior that appears inconsistent with a monetary policy regime focused only on inflation and output and not on fiscal balances as recently observed in the U.S. The third examines the implications of reference-dependent preferences and moral hazard in employment fluctuations in the labor market. The fourth paper addresses money and inflation, analyzing the long run inflation rate, the coexistence of money with pledgeable and money-like assets, and why inflation did not increase in response to business-cycle fluctuations in productivity. And the fifth looks at the stock market and how it relates to the real economy. The final chapter discusses the large and public shift towards more expansionary monetary policy that has recently occurred in Japan.
The twenty-ninth edition of the NBER Macroeconomics Annual continues its tradition of featuring theoretical and empirical research on central issues in contemporary macroeconomics. Two papers in this year’s issue deal with recent economic performance: one analyzes the evolution of aggregate productivity before, during, and after the Great Recession, and the other characterizes the factors that have contributed to slow economic growth following the Great Recession. Another pair of papers tackles the role of information in business cycles. Other contributions address how assumptions about sluggish nominal price adjustment affect the consequences of different monetary policy rules and the role of business cycles in the long-run decline in the share of employment in middle-wage jobs. The final chapter discusses the advantages and disadvantages of the elimination of physical currency.
This year, the NBER Macroeconomics Annual celebrates its thirtieth volume. The first two papers examine China’s macroeconomic development. “Trends and Cycles in China's Macroeconomy” by Chun Chang, Kaiji Chen, Daniel F. Waggoner, and Tao Zha outlines the key characteristics of growth and business cycles in China. “Demystifying the Chinese Housing Boom” by Hanming Fang, Quanlin Gu, Wei Xiong, and Li-An Zhou constructs a new house price index, showing that Chinese house prices have grown by ten percent per year over the past decade. The third paper, “External and Public Debt Crises” by Cristina Arellano, Andrew Atkeson, and Mark Wright, asks why there appear to be large differences across countries and subnational jurisdictions in the effect of rising public debts on economic outcomes. The fourth, “Networks and the Macroeconomy: An Empirical Exploration” by Daron Acemoglu, Ufuk Akcigit, and William Kerr, explains how the network structure of the US economy propagates the effect of gross output productivity shocks across upstream and downstream sectors. The fifth and sixth papers investigate the usefulness of surveys of household’s beliefs for understanding economic phenomena. “Expectations and Investment,” by Nicola Gennaioli, Yueran Ma, and Andrei Shleifer, demonstrates that a chief financial officer's expectations of a firm's future earnings growth is related to both the planned and actual future investment of that firm. “Declining Desire to Work and Downward Trends in Unemployment and Participation” by Regis Barnichon and Andrew Figura shows that an increasing number of prime-age Americans who are not in the labor force report no desire to work and that this decline accelerated during the second half of the 1990s.
The thirty-first edition of the NBER Macroeconomics Annual features theoretical and empirical research on central issues in contemporary macroeconomics. The first two papers are rigorous and data-driven analyses of the European financial crisis. The third paper introduces a new set of facts about economic growth and financial ratios as well as a new macrofinancial database for the study of historical financial booms and busts. The fourth paper studies the historical effects of Federal Reserve efforts to provide guidance about the future path of the funds rate. The fifth paper explores the distinctions between models of price setting and associated nominal frictions using data on price setting behavior. The sixth paper considers the possibility that the economy displays nonlinear dynamics that lead to cycles rather than long-term convergence to a steady state. The volume also includes a short paper on the decline in the rate of global economic growth.
Volume 32 of the NBER Macroeconomics Annual features six theoretical and empirical studies of important issues in contemporary macroeconomics, and a keynote address by former IMF chief economist Olivier Blanchard. In one study, SeHyoun Ahn, Greg Kaplan, Benjamin Moll, Thomas Winberry, and Christian Wolf examine the dynamics of consumption expenditures in non-representative-agent macroeconomic models. In another, John Cochrane asks which macro models most naturally explain the post-financial-crisis macroeconomic environment, which is characterized by the co-existence of low and nonvolatile inflation rates, near-zero short-term interest rates, and an explosion in monetary aggregates. Manuel Adelino, Antoinette Schoar, and Felipe Severino examine the causes of the lending boom that precipitated the recent U.S. financial crisis and Great Recession. Steven Durlauf and Ananth Seshadri investigate whether increases in income inequality cause lower levels of economic mobility and opportunity. Charles Manski explores the formation of expectations, considering the efficacy of directly measuring beliefs through surveys as an alternative to making the assumption of rational expectations. In the final research paper, Efraim Benmelech and Nittai Bergman analyze the sharp declines in debt issuance and the evaporation of market liquidity that coincide with most financial crises. Blanchard’s keynote address discusses which distortions are central to understanding short-run macroeconomic fluctuations.
This volume contains six studies on current topics in macroeconomics. The first shows that while assuming rational expectations is unrealistic, a finite-horizon forward planning model can yield results similar to those of a rational expectations equilibrium. The second explores the aggregate risk of the U.S. financial sector, and in particular whether it is safer now than before the 2008 financial crisis. The third analyzes “factorless income,” output that is not measured as capital or labor income. Next, a study argues that the financial crisis increased the perceived risk of a very bad economic and financial outcome, and explores the propagation of large, rare shocks. The next paper documents the substantial recent changes in the manufacturing sector and the decline in employment among prime-aged Americans since 2000. The last paper analyzes the dynamic macroeconomic effects of border adjustment taxes.
The thirty-fourth volume of the NBER Macroeconomics Annual features theoretical and empirical studies of issues in contemporary macroeconomics and a keynote address by James Stock, a member of President Obama’s Council of Economic Advisers from 2013 to 2014. Chong-en Bai, Chang-Tai Hsieh, and Zheng Song examine the “special deals” provided by Chinese local governments to favored private firms and their effects on economic growth. Matias Covarrubias, Germán Gutiérrez, and Thomas Philippon study the evolution of profits, investment, and market shares in US industries over the past forty years and find evidence of inefficient concentration and barriers to entry since 2000. David Debortoli, Jordi Galí, and Luca Gambetti assess whether recent economic performance was affected by a binding zero lower bound constraint on the interest rate. Michael McLeay and Silvana Tenreyro explain why it is difficult to empirically identify the Phillips curve (a key element of the policy framework used by central banks) using aggregate data. The authors suggest using regional variation in unemployment and inflation to estimate the relationship between these variables. Margherita Borella, Mariacristina De Nardi, and Fang Yang examine the effects of shorter life expectancies, higher medical expenses, and lower wages for white, non-college-educated Americans born in the 1960s on labor supply and retirement savings. Nir Jaimovich, Sergio Rebelo, Arlene Wong, and Miao Ben Zhang investigate the role that increases in the quality of the goods consumed (“trading up”) played in the rise of the skill premium that occurred in the last four decades.
Multilevel structures are becoming increasingly characteristic of the world in which we live. This book is a unique study of policy making in a multilevel political system extending from the national to the international level. Taking as its subject the process of financial market reforms that took place following the recent financial crisis, it brings together an international group of renowned social scientists to explore the interplay between international organizations, European authorities, and regulators in the United States, the United Kingdom, and Germany in global financial decision making. Contributors thoroughly explore a small set of reform issues—including bank structure, bank capital, resolution, and over-the-counter trading of derivatives—to provide a detailed view of the vertical and horizontal interactions between these actors as related to a set of key questions: Are those states affected by the crisis adopting internationally negotiated regulations? Or are they instead determining the European and international reform agenda? Are the agreed upon policies contributing to greater harmonization of financial regulation in a multilevel political system? Or is the process being dominated by differing national interests?
This pathbreaking study traces the rise--and subsequent fall--of the
United Packinghouse Workers of America (UPWA). Roger Horowitz emphasizes
local leaders and meatpacking workers in Chicago, Kansas City, Sioux City,
and Austin, Minnesota, and closely examines the unionizing of the workplace
and the prominent role of black workers and women in UPWA.
In clear, anecdotal style, Horowitz shows how three major firms in U.S.
meat production and distribution became dominant by virtually eliminating
union power. The union's decline, he argues, reflected massive pressure
by capital for lower labor costs and greater control over the work process.
In the end, the victorious firms were those that had been most successful
at increasing the rate of exploitation of their workers, who now labor
in conditions as bad as those of a century ago.
"The definitive study of unionism in the meatpacking industry for
the period since the 1920's." -- James R. Barrett, author of Work and Community in the Jungle: Chicago's Packinghouse Workers, 1894-1922 A volume in the series The Working Class in American History, edited by David Brody, Alice Kessler-Harris, David Montgomery, and Sean Wilentz Supported by the Illinois Labor History Society
Richard R. John Harvard University Press, 2010 Library of Congress TK5102.3.U6J64 2010 | Dewey Decimal 384
The telegraph and the telephone were the first electrical communications networks to become hallmarks of modernity. Yet they were not initially expected to achieve universal accessibility. In this pioneering history of their evolution, Richard R. John demonstrates how access to these networks was determined not only by technological imperatives and economic incentives but also by political decision making at the federal, state, and municipal levels. In the decades between the Civil War and the First World War, Western Union and the Bell System emerged as the dominant providers for the telegraph and telephone. Both operated networks that were products not only of technology and economics but also of a distinctive political economy. Western Union arose in an antimonopolistic political economy that glorified equal rights and vilified special privilege. The Bell System flourished in a progressive political economy that idealized public utility and disparaged unnecessary waste. The popularization of the telegraph and the telephone was opposed by business lobbies that were intent on perpetuating specialty services. In fact, it wasn’t until 1900 that the civic ideal of mass access trumped the elitist ideal of exclusivity in shaping the commercialization of the telephone. The telegraph did not become widely accessible until 1910, sixty-five years after the first fee-for-service telegraph line opened in 1845.
Network Nation places the history of telecommunications within the broader context of American politics, business, and discourse. This engrossing and provocative book persuades us of the critical role of political economy in the development of new technologies and their implementation.
In recent years, China 's leaders have taken decisive action to transform information, communications, and technology (ICT) into the nation's next pillar industry. In Networking China , Yu Hong offers an overdue examination of that burgeoning sector's political economy. Hong focuses on how the state, in conjunction with market forces and class interests, is constructing and realigning its digitalized sector. State planners intend to build a more competitive ICT sector by modernizing the network infrastructure, corporatizing media-and-entertainment institutions, and by using ICT as a crosscutting catalyst for innovation, industrial modernization, and export upgrades. The goal: to end China's industrial and technological dependence upon foreign corporations while transforming itself into a global ICT leader. The project, though bright with possibilities, unleashes implications rife with contradiction and surprise. Hong analyzes the central role of information, communications, and culture in Chinese-style capitalism. She also argues that the state and elites have failed to challenge entrenched interests or redistribute power and resources, as promised. Instead, they prioritize information, communications, and culture as technological fixes to make pragmatic tradeoffs between economic growth and social justice.
Networks and Markets
James E. Rauch Russell Sage Foundation, 2001 Library of Congress HM548.N48 2001 | Dewey Decimal 306.3
Networks and Markets argues that economists' knowledge of markets and sociologists' rich understanding of networks can and should be combined. Together they can help us achieve a more coherent view of economic life, where transactions follow both the logic of economic incentives and the established channels of personal relationships. Market exchange is impersonal, episodic, and carried out at arm's length. All that matters is how much the seller is asking, and how much the buyer is offering. An economic network, by contrast, is based upon more personalized and enduring relationships between people tied together by more than just price. Networks and Markets focuses on how the two concepts relate to each other: Are social networks an essential precondition for successful markets, or do networks arise naturally out of markets, as faceless traders build reputations and gain confidence in each other? The book includes contributions by both sociologists and economists, applying the concepts of markets and networks to concrete empirical phenomena. Among the topics analyzed, the book explains how, in Taiwan, South Korea, and Japan, firms combine into tightly-knit business blocs, how wholesalers in a Marseille fish market earn the loyalty of customers, and how ethnic retailers in the U.S. share valuable market information with other shopkeepers from their ethnic group. A response to each chapter discusses the issue from the standpoint of the other discipline. Sociologists are challenged to go beyond small-scale economic exchange and to integrate their concept of networks into a broader understanding of the economic system as a whole, while economists are challenged to consider the economic implications of network ties, which can be strong or weak, unconditional or highly contingent. This book proves that both economics and sociology provide stronger insights when they study markets and networks as parallel forms of exchange. But it also clarifies the healthy division of labor that remains between the two disciplines. Sociologists are adept at showing how markets are framed by social institutions; economists specialize in explaining how markets perform, taking the social context as a given. Networks and Markets showcases what each discipline does best and reveals where each discipline would do better by borrowing from the other.
Of all economic recessions experienced by the United States in the postwar period, the Great Recession that began in 2008 was the deepest, longest, and most destructive. Nevada was among the hardest hit states, its people reeling from the aftereffects, and the state government also experiencing a severe fiscal crisis. University of Nevada economics professor Elliott Parker and then-State Treasurer Kate Marshall make sense of what went wrong and why, with the hope the state will learn lessons to prevent past mistakes from being made again.
This is a different kind of economics book. Parker uses his expertise from doing research on the East Asian fiscal crisis to give profound insights into what happened and how to avoid future catastrophes. Marshall personalizes it by providing vignettes of what it was actually like to be in the trenches and fighting the inevitable political battles that came up, and counteracting some of the falsehoods that certain politicians were spreading about the recession.
Parker and Marshall’s book should be required reading for not only every single elected official in Nevada, but for any private citizen who cares about the public good.
Histories of women in Hollywood usually recount the contributions of female directors, screenwriters, designers, actresses, and other creative personnel whose names loom large in the credits. Yet, from its inception, the American film industry relied on the labor of thousands more women, workers whose vital contributions often went unrecognized.
Never Done introduces generations of women who worked behind the scenes in the film industry—from the employees’ wives who hand-colored the Edison Company’s films frame-by-frame, to the female immigrants who toiled in MGM’s backrooms to produce beautifully beaded and embroidered costumes. Challenging the dismissive characterization of these women as merely menial workers, media historian Erin Hill shows how their labor was essential to the industry and required considerable technical and interpersonal skills. Sketching a history of how Hollywood came to define certain occupations as lower-paid “women’s work,” or “feminized labor,” Hill also reveals how enterprising women eventually gained a foothold in more prestigious divisions like casting and publicity.
Poring through rare archives and integrating the firsthand accounts of women employed in the film industry, the book gives a voice to women whose work was indispensable yet largely invisible. As it traces this long history of women in Hollywood, Never Done reveals the persistence of sexist assumptions that, even today, leave women in the media industry underpraised and underpaid.
A New Architecture for the U.S. National Accounts brings together a distinguished group of contributors to initiate the development of a comprehensive and fully integrated set of United States national accounts. The purpose of the new architecture is not only to integrate the existing systems of accounts, but also to identify gaps and inconsistencies and expand and incorporate systems of nonmarket accounts with the core system.
Since the United States economy accounts for almost thirty percent of the world economy, it is not surprising that accounting for this huge and diverse set of economic activities requires a decentralized statistical system. This volume outlines the major assignments among institutions that include the Bureau of Economic Analysis, the Bureau of Labor Statistics, the Department of Labor, the Census Bureau, and the Governors of the Federal Reserve System.
An important part of the motivation for the new architecture is to integrate the different components and make them consistent. This volume is the first step toward achieving that goal.
Charles Coolidge Parlin was considered by many to be the founder of market research. Working for the dominant Curtis Publishing Company, he revolutionized the industry by providing added value to advertisers through information about the racial, ethnic, and regional biases of readers and consumers. By maintaining contact with both businesses and customers, Parlin and Curtis publications were able to turn consumer wants into corporate profits.
In A New Brand of Business, Douglas Ward provides an intriguing business history that explains how and why Curtis developed its market research division. He reveals the evolution and impact of Parlin’s work, which understood how readers and advertisers in the emerging consumer economy looked at magazines and advertisements. Ward also examines the cultural and social reasons for the development and use of market research—particularly in regard to Curtis’ readership of upper-income elites. The result weaves the stories of Parlin and Curtis into the changes taking place in American business and advertising in the early twentieth century.
While many older American cities struggle to remain vibrant, New Brunswick has transformed itself, adapting to new forms of commerce and a changing population, and enjoying a renaissance that has led many experts to cite this New Jersey city as a model for urban redevelopment. Featuring more than 100 remarkable photographs and many maps, New Brunswick, New Jersey explores the history of the city since the seventeenth century, with an emphasis on the dramatic changes of the past few decades.
Using oral histories, archival materials, census data, and surveys, authors David Listokin, Dorothea Berkhout, and James W. Hughes illuminate the decision-making and planning process that led to New Brunswick’s dramatic revitalization, describing the major redevelopment projects that demonstrate the city’s success in capitalizing on funding opportunities. These projects include the momentous decision of Johnson & Johnson to build its world headquarters in the city, the growth of a theater district, the expansion of Rutgers University into the downtown area, and the destruction and rebuilding of public housing. But while the authors highlight the positive effects of the transformation, they also explore the often heated controversies about demolishing older neighborhoods and ask whether new building benefits residents. Shining a light on both the successes and failures in downtown revitalization, they underscore the lessons to be learned for national urban policy, highlighting the value of partnerships, unwavering commitment, and local leadership.
Today, New Brunswick’s skyline has been dramatically altered by new office buildings, residential towers, medical complexes, and popular cultural centers. This engaging volume explores the challenges facing urban America, while also providing a specific case study of a city’s quest to raise its economic fortunes and retool its economy to changing needs.
After the collapse of communism in the Soviet Union and eastern Europe, more than a dozen countries undertook aggressive privatization programs. Proponents of economic reform championed such large-scale efforts as the fastest, most reliable way to make the transition from a state-run to a capitalist economy.
The idea was widely embraced, and in the span of a few years, policymakers across the region repeatedly chose an approach that distributed vast amounts of state property to the private sector essentially for free-despite the absence of any historical precedent for such a radical concept. But privatization was not a panacea. It has, instead, become increasingly synonymous with collusion, corruption, and material deprivation.
Why was privatization so popular in the first place, and what went wrong? In answering this question, Hillary Appel breaks with mainstream empirical studies of postcommunist privatization.
By analyzing the design and development of programs in Russia, the Czech Republic, and across eastern Europe, Appel demonstrates how the transformation of property rights in these countries was first and foremost an ideologically driven process. Looking beyond simple economic calculations or pressure from the international community, she argues that privatization was part and parcel of the foundation of the postcommunist state.
A New Capitalist Order reveals that privatization was designed and implemented by pro-market reformers not only to distribute gains and losses to powerful supporters, but also to advance a decidedly Western, liberal vision of the new postcommunist state. Moreover, specific ideologies-such as anticommunism, liberalism, or nationalism, to name but a few-profoundly influenced the legitimacy, the power, and even the material preferences of key economic actors and groups within the privatization process.
This book explores the changes that are leading to a new century of natural resources management. It places the current situation in historical perspective, analyzes the forces that are propelling change, and describes and examines the specific changes in goals, policy, and practice that are transforming all aspects of natural resources management.The book is an important overview for wildlife biologists, foresters, and others working for public land agencies; professors and students of natural resources; and all those whose livelihood depends on the use of public natural resources.
While overconsumption by the developed world's roughly one billion inhabitants is an abiding problem, another one billion increasingly affluent "new consumers" in developing countries will place additional strains on the earth's resources, argue authors Norman Myers and Jennifer Kent in this important new book.
The New Consumers examines the environmental impacts of this increased consumption, with particular focus on two commodities -- cars and meat -- that stand to have the most far-reaching effects. It analyzes consumption patterns in a number of different countries, with special emphasis on China and India (whose surging economies, as well as their large populations, are likely to account for exceptional growth in humanity's ecological footprint), and surveys big-picture issues such as the globalization of economies, consumer goods, and lifestyles. Ultimately, according to the orman Myers and Jennifer Kent, the challenge will be for all of humanity to transition to sustainable levels of consumption, for it is unrealistic to expect "new" consumers not to aspire to be like the "old" ones. Cogent in its analysis, The New Consumers issues a timely warning of a major and developing environmental trend, and suggests valuable strategies for ameliorating its effects.
The productivity slowdown of the 1970s and 1980s and the resumption of productivity growth in the 1990s have provoked controversy among policymakers and researchers. Economists have been forced to reexamine fundamental questions of measurement technique. Some researchers argue that econometric approaches to productivity measurement usefully address shortcomings of the dominant index number techniques while others maintain that current productivity statistics underreport damage to the environment. In this book, the contributors propose innovative approaches to these issues. The result is a state-of-the-art exposition of contemporary productivity analysis.
Charles R. Hulten is professor of economics at the University of Maryland. He has been a senior research associate at the Urban Institute and is chair of the Conference on Research in Income and Wealth of the National Bureau of Economic Research. Michael Harper is chief of the Division of Productivity Research at the Bureau of Labor Statistics. Edwin R. Dean, formerly associate commissioner for Productivity and Technology at the Bureau of Labor Statistics, is adjunct professor of economics at The George Washington University.
Foreword by Nicholas Lemann "A brilliant book that both clarifies and explains the seemingly contradictory trends of a booming economy, wage stagnation, and growing income inequality." —Thomas B. Edsall, author, The New Politics of Inequalityand political reporter atThe Washington Post More than a decade ago, Frank Levy's classic Dollars and Dreams offered an incisive analysis of the dramatic changes then taking place in the American standard of living. As wage stagnation and rising income inequality in the 1970s and early 80s began to undermine Americans' traditional economic optimism, Levy's book provided the first diagnosis of what he called the quiet depression. Since then, the U.S. economy has made a dramatic comeback, but economic insecurity remains widespread. New technologies, increased immigration, and global competition have opened up a new economic playing field, one with new rules and new winners and losers. The New Dollars and Dreams explores this puzzling economic landscape, in which low unemployment goes hand in hand with sluggish wage growth and high income inequality. This completely revised and expanded version of Levy's original book offers an invaluable guide to the sweeping economic, social, and political changes that have remade life in the United States over the past twenty-five years. Levy tells a fascinating and insightful story about what happened to American incomes and jobs. His plot resists the simple truths of everyday journalism, and explains the economic and political twists and turns that have shaped the current American economy—including the oil and food price inflations of the 1970s, the market deregulations and corporate downsizings of the 1980s, the emergence of women as sole breadwinners in many families, the migration of jobs to the suburbs, and the computerization of work. The New Dollars and Dreams illuminates the key sources of inequality, with chapters that examine the disparate employment progress of whites, minorities, men, and women, and it carefully investigates the claim that the concentration of very high incomes is the result of a winner-take-all economy. Although the growth of the service economy is often blamed for inequality, Levy locates a more fundamental cause in the rising educational and skill demands brought about by restructuring of work in all sectors of the economy. An important part of the story also involves the transformation of the American family from extended and two-parent households to those headed by single mothers and lone individuals. By making sense of these complex trends, The New Dollars and Dreams offers crucial insights into why, despite a thriving economy, many Americans no longer feel secure in their financial futures. A Volume in the Russell Sage Foundation Census Series
As the American economy surged in the 1990s, economic sociology made great strides as well. Economists and sociologists worked across disciplinary boundaries to study the booming market as both a product and a producer of culture, tracing the correlations they saw between economic and social phenomena. In the process, they debated the methodological issues that arose from their interdisciplinary perspectives. The New Economic Sociology provides an overview of these debates and assesses the state of the burgeoning discipline. The contributors summarize economic sociology's accomplishments to date, identifying key theoretical problems and opportunities, and formulating strategies for future research in the field. The book opens with an introduction to the main debates and conceptual approaches in economic sociology. Contributor Neil Fligstein suggests that the current resurgence of interest in economic sociology is due to the way it brings together many sociological subdisciplines including the study of markets, households, labor markets, stratification, networks, and culture. Other contributors examine the role of economic phenomena from a network perspective. Ron Burt, for example, demonstrates how social relationships affect competitive dynamics in the marketplace. A third set of chapters addresses the role of gender in economic sociology. In her chapter, Barbara Reskin rethinks conventional notions about discrimination and points out that the law only covers one type of discrimination, while in recent years social scientists have uncovered other forms of hidden discrimination, which must be addressed as well. The New Economic Sociology also addresses the problem of economic development and change from a sociological perspective. Alejandro Portes and Margarita Mooney elaborate on one of the key emerging concepts in economic sociology, arguing that social capital—as an attribute of communities and regions—can contribute to economic and social well-being by fostering collaboration and entrepreneurship. The contributors concur that economic action must be interpreted through the cultural understandings that lend it stability and meaning. By rendering these often complex debates accessible, The New Economic Sociology makes a significant contribution to this still rapidly developing field, and provides a useful guide for future avenues of research.
The history of economic thought has traditionally focused on the work of individuals no longer living. Recently, however, historians have begun to use their tools of analysis on the work of contemporary economists. New Economics and Its Writing compiles evidence of this shift, with thirteen essays by scholars interested in catalyzing conversation between contemporary economists and historians of economics. This new focus requires new methods of analysis—historiographic strategies involving far greater archival resources, for instance, and often nontraditional resources, such as electronic records. Essays collected here address these changes and examine how this new emphasis on the work of living economists can and will entail interaction between the producer of theory and the historian, complicating the latter’s role. Chapters discuss topics such as the emergence of subdisciplines in economics, social-contextual perspectives on the writing of economics, the dynamics of idea development, and the recent incursion of noneconomic thinking—such as engineering methods and mathematical models—into economics. New Economics and Its Writing shows that attention to recent, ongoing economics from historians of economics has the potential to revitalize and transform the history of economics as an area of investigation.
This volume is the 1997 Annual Supplement to the journal History of Political Economy. All 1997 subscribers will receive a copy of this book as part of their annual subscription.
Contributors. Timothy L. Alborn, Marcel Boumans, Joshua Cohen, John B. Davis, Ross B. Emmett, Paul Harrison, Daniel M. Hausman, Mary L. Hirschfeld, S. Todd Lowry, Steven G. Medema, Philip Mirowski, Philippe Mongin, S. Abu Turab Rizvi, Esther-Mirjam Sent
Why shouldn't people who deplete our natural assets have to pay, and those who protect them reap profits? Conservation-minded entrepreneurs and others around the world are beginning to ask just that question, as the increasing scarcity of natural resources becomes a tangible threat to our own lives and our hopes for our children. The New Economy of Nature brings together Gretchen Daily, one of the world's leading ecologists, with Katherine Ellison, a Pulitzer-prize winning journalist, to offer an engaging and informative look at a new "new economy" -- a system recognizing the economic value of natural systems and the potential profits in protecting them.Through engaging stories from around the world, the authors introduce readers to a diverse group of people who are pioneering new approaches to conservation. We meet Adam Davis, an American business executive who dreams of establishing a market for buying and selling "ecosystem service units;" John Wamsley, a former math professor in Australia who has found a way to play the stock market and protect native species at the same time; and Dan Janzen, a biologist working in Costa Rica who devised a controversial plan to sell a conservation area's natural waste-disposal services to a local orange juice producer. Readers also visit the Catskill Mountains, where the City of New York purchased undeveloped land instead of building an expensive new water treatment facility; and King County, Washington, where county executive Ron Sims has dedicated himself to finding ways of "making the market move" to protect the county's remaining open space.Daily and Ellison describe the dynamic interplay of science, economics, business, and politics that is involved in establishing these new approaches and examine what will be needed to create successful models and lasting institutions for conservation. The New Economy of Nature presents a fundamentally new way of thinking about the environment and about the economy, and with its fascinating portraits of charismatic pioneers, it is as entertaining as it is informative.
More than one million nonprofit or voluntary organizations have been incorporated in the United States, and there are countless others throughout the world. Although they range in size and purpose from small social clubs to large and complex organizations such as universities and hospitals, they all have one thing in common: a board of directors of some type. What these boards do varies as much as the organizations themselves.
The New Effective Voluntary Board of Directors provides clear answers, illustrated with graphics, to previously ambiguous and bewildering questions, such as definitions of policy, the function of boards, the role of board members, and many other issues.
Dealing with the delicate balance in nonprofit organizations, the legal implications of serving on a board, the nonprofit leadership and management model, and other matters of concern, William Conrad applies his lifelong experience to providing a comprehensive, practical, and concise tool for those involved in the unique challenges associated with the leadership and management of nonprofit and voluntary groups.
With nearly 30,000 copies of earlier editions of this work in print, Swallow Press is pleased to publish the new, updated, and revised edition of this classic in its field.
Reconciling explosive growth with often majestic landscape defines New Geographies of the American West. Geographer William Travis examines contemporary land use changes and development patterns from the Mississippi to the Pacific, and assesses the ecological and social outcomes of Western development.
Unlike previous "boom" periods dependent on oil or gold, the modern population explosion in the West reflects a sustained passion for living in this specific landscape. But the encroaching exurbs, ranchettes, and ski resorts are slicing away at the very environment that Westerners cherish.
Efforts to manage growth in the West are usually stymied at the state and local levels. Is it possible to improve development patterns within the West's traditional anti-planning, pro-growth milieu, or is a new model needed? Can the region develop sustainably, protecting and managing its defining wildness, while benefiting from it, too? Travis takes up the challenge , suggesting that functional and attractive settlement can be embedded in preserved lands, working landscapes, and healthy ecologies.
Long a fruitful area of scrutiny for students of organizations, the study of institutions is undergoing a renaissance in contemporary social science. This volume offers, for the first time, both often-cited foundation works and the latest writings of scholars associated with the "institutional" approach to organization analysis.
In their introduction, the editors discuss points of convergence and disagreement with institutionally oriented research in economics and political science, and locate the "institutional" approach in relation to major developments in contemporary sociological theory. Several chapters consolidate the theoretical advances of the past decade, identify and clarify the paradigm's key ambiguities, and push the theoretical agenda in novel ways by developing sophisticated arguments about the linkage between institutional patterns and forms of social structure. The empirical studies that follow—involving such diverse topics as mental health clinics, art museums, large corporations, civil-service systems, and national polities—illustrate the explanatory power of institutional theory in the analysis of organizational change.
Required reading for anyone interested in the sociology of organizations, the volume should appeal to scholars concerned with culture, political institutions, and social change.
Previous editions of Robert Z. Aliber's The New International Money Game have been widely acclaimed as the best and most entertaining introduction to the arcane enigmas of international finance. Since its original publication, the book has become a classic primer for beginning students, businesspersons, and anyone interested in a clear explanation of international monetary and financial issues.
With expert knowledge and a wry sense of humor, Aliber demystifies international finance by breaking through the jargon barrier and presenting technical issues in a clear and concise manner. Aliber takes the reader on a tour of a multiplicity of international finance issues, included fixed and floating exchange rates, devaluations, money markets, monetary policy, and the concepts that lie behind the esoteric language of financial economists.
This sixth edition tracks the changes that have taken place in the world economy since the previous editions by exploring financial globalization, postcommunist transition, European integration, and the Asian economic crisis. It is an indispensable and highly readable guide to the complex and increasingly fragile system through which the world's business is financed.
New Jersey has a long history of adapting to a changing economic climate. From its colonial origins to the present day, New Jersey's economy has continuously and successfully confronted the challenges and uncertainties of technological and demographic change, placing the state at the forefront of each national and global economic era. Based on James W. Hughes and Joseph J. Seneca’s nearly three-decade-long Rutgers Regional Report series, New Jersey’s Postsuburban Economy presents the issues confronting the state and brings to the forefront ideas for meeting these challenges.
From the rural agricultural and natural resource based economy and lifestyle of the seventeenth century to today’s postindustrial, suburban-dominated, automobile-dependent economy, the economic drivers which were considered to be an asset are now viewed by many to be the state’s greatest disadvantage. On the brink of yet another transformation, this one driven by a new technology and an internet based global economy, New Jersey will have to adapt itself yet again—this time to a postsuburban digital economy.
Hughes and Seneca describe the forces that are now propelling the state into yet another economic era. They do this in the context of historical economic transformations of New Jersey, setting out the technological, demographic, and transportation shifts that defined and drove them..
Interest in John Maynard Keynes has increased significantly over the past decade with the publication of his collected writings, increased access to his unpublished papers, and the resulting explosion of secondary literature. Responding to this renewed attention, this collection brings together economists and historians of economics with scholars from philosophy and other related fields to reconsider Keynes’s work and its legacy. Several of these essays look at Keynes not simply as an economist, but more broadly as a philosopher. Special attention is directed to his views on aesthetics and moral philosophy, as well as his contributions as a probability theorist. The development of the Keynesian heritage is also considered: How did Keynesian ideas become assimilated and domesticated into the mainstream of economic thought—to the point of becoming dominant as the orthodoxy of the economics profession? What was the relationship between postwar British conservatives, Keynes’s work, and Britain’s relative economic decline? The archivist in charge of Keynes’s papers provides an additional vantage point on Keynes’s working methods and the broad range of scholars interested in his writings. Finally, all of the essays are followed by a responder’s comments, thus providing an exchange of viewpoints.
Contributors. A. W. Coats, Allin F. Cottrell, Jacqueline Cox, William Darity, John Davis, Robert Dimand, Peter Groenewegen, Kevin Hoover, Henry E. Kyburg Jr., David Laidler, Michael S. Lawlor, Greg Lilly, D. E. Moggridge, R. M. O’Donnell, Kerry Pearce, Jochen Runde, Teddy Seidenfeld, J. D. Tomlinson
China’s economic and political presence in Africa has expanded drastically over the past decade, especially in the sub-Saharan region. Convinced that Western attempts at providing aid to Africa have failed, Chinese officials have sought new forms of aid and invested billions to push further development in Africa. But some in the United States and around the word fear that China’s interest in sub-Saharan Africa could threaten previous efforts to protect human rights and to promote democracy in the region. The New Presence of China in Africa takes on this controversial issue, offering an overview of the Chinese model and evaluating whether it might serve as an example for future Western endeavors.
Social scientists, politicians, and economists have recently been taken with the idea that the advanced welfare states of Europe face a “New Social Question.” The core idea is that the transition from an industrial to a postindustrial environment has brought with it a whole new set of social risks, constraints, and trade-offs, which necessitate radical recalibration of social security systems. A New Social Question? analyzes that question in depth, with particular attention to the problem of income protection and the difficulties facing Bismarckian welfare states. It will be necessary reading for anyone interested in understanding the future of European social policy.
According to Wikipedia: "A wicked problem is one that is impossible or difficult to solve because of incomplete, contradictory, and changing requirements that are often difficult to recognize. The term 'wicked' refers to such a problem's resistance to resolution, not to an evil nature. Classic examples of wicked problems include economic, environmental, and political issues.”
We now live in a world full of wicked problems, most of them urgent challenges calling out for creative, democratic, and effective solutions. Ed Weber, Denise Lach, and Brent Steele, of the Oregon State University School of Public Policy, solicited papers from a wide variety of accomplished scholars in the fields of science, politics, and policy with significant research experience to address this challenge. The resultant collection focuses on major contemporary environmental and natural resource policy issues, and proposes an assortment of alternative problem-solving methodologies to tackle such problems.
New Strategies for Wicked Problems will appeal to scholars, students, and decision-makers wrestling with wicked problems and “post-normal” science settings beyond simply environmental and natural resource-based issues. It will provide much needed guidance to policymakers, citizens, public managers, and various stakeholders who are struggling with wicked problems in their professional lives.
Ann C. Keller
Anna Pakenham Stevenson
Christopher M. Weible
Daniel R. Williams
Following on F. A. Hayek's previous work Studies in Philosophy, Politics, and Economics (1967), New Studies in Philosophy, Politics, Economics and the History of Ideas collects some of Hayek's most notable essays and lectures dealing with problems of philosophy, politics and economics, with many of the essays falling into more than one of these categories. Expanding upon the previous volume the present work also includes a fourth part collecting a series of Hayek's writings under the heading 'History of Ideas.'
Of the articles contained in this volume the lectures on 'The Errors of Constructivism' (chapter 1) and 'Competition as a Discovery Procedure' (chapter 12) have been published before only in German, while the article on 'Liberalism' (chapter 9) was written in English to be published in an Italian translation in the Enciclopedia del Novicento by the Istituto della Enciclopedia Italiana at Rome.
The recent recession is one result of how local planning laws and practices have stifled competition, discouraged innovation, and artificially pushed up prices in America's most economically vibrant regions. Economist and consultant Claude Gruen unravels the story behind how these unintended consequences have resulted from the evolution of local zoning, growth controls, and laws intended to increase housing affordability.
New Urban Development traces how locally induced housing cost increases led federal policy-makers to toss out the safeguards against lending excesses that had been put in place during the 1930s. But the story begins much earlier, during the colonial era, continuing up through the mortgage collapse that ushered in the recession of 2008. In his sweeping history of these issues, Gruen considers gentrification, environmentalism, sprawl, anti-sprawl movements, and more. His clarification of how urban development change occurs backs up his recommendations for increasing the production of housing and replacing obsolete commercial and industrial spaces with development that serves the twenty-first-century economy. New Urban Development specifies thirteen changes to policies at the federal, state, and local levels to provide better and less expensive urban housing, desirable neighborhoods, and thriving workplaces across the country.
The discovery of the New World was initially a cause for celebration. But the vast amounts of gold that Columbus and other explorers claimed from these lands altered Spanish society. The influx of such wealth contributed to the expansion of the Spanish empire, but also it raised doubts and insecurities about the meaning and function of money, the ideals of court and civility, and the structure of commerce and credit. New World Gold shows that, far from being a stabilizing force, the flow of gold from the Americas created anxieties among Spaniards and shaped a host of distinct behaviors, cultural practices, and intellectual pursuits on both sides of the Atlantic.
Elvira Vilches examines economic treatises, stories of travel and conquest, moralist writings, fiction, poetry, and drama to reveal that New World gold ultimately became a problematic source of power that destabilized Spain’s sense of trust, truth, and worth. These cultural anxieties, she argues, rendered the discovery of gold paradoxically disastrous for Spanish society. Combining economic thought, social history, and literary theory in trans-Atlantic contexts, New World Gold unveils the dark side of Spain’s Golden Age.
Why do citizens of states with strict surveillance care so little about their digital privacy? Why do Brazilians eschew geo-tagging on social media? What drives young Indians to friend “foreign” strangers on Facebook and give “missed calls” to people? Payal Arora answers these questions and many more about the internet’s next billion users.
Next Gen PhD
Melanie V. Sinche Harvard University Press, 2016 Library of Congress Q147.S55 2016 | Dewey Decimal 502.3
An upper-level degree is a prized asset in the eyes of many employers, and nonfaculty careers once considered Plan B are now preferred by the majority of science degree holders. Melanie Sinche profiles science PhDs across a wide range of disciplines who share proven strategies for landing a rewarding occupation inside or outside the university.
Drawing on his five decades of leadership experience, William Byron outlines in this volume the theory, practice, and purpose of leadership. Intuition, humility, empathy, simplicity of lifestyle, and sound speaking and writing skills are all essential for effective leadership, and Byron devotes separate, in-depth chapters to each. Aimed at an audience now largely overlooked by leadership literature, Next Generation Leadership will appeal to the business, government, religion, and nonprofit leaders of tomorrow.
This volume of seven essays on the 1987 Nicaraguan constitution does not accept a priori the judgment that Latin American constitutions are as fragile as egg shells, easily broken and discarded if found to be inconvenient to the interests of the rulers. Rather, they are viewed as being central to understanding political life in contemporary Nicaragua.
The perspectives of the analysts and their conclusions are not consensual. They prohibit glib and facile general conclusions. Some find the constitution to be nothing more than a façade for arbitrary and capricious rule; others that the document reflects clear commitments to the democratic rule of law. Thus far the implementation of the constitution has resulted in the peaceful transition of power from the Sandinistas to the National Opposition Union.
While the internet bubble has burst, the New Economy that the internet produced is still with us, along with the myth of a workplace built around more humane notions of how people work and spend their days in offices. No-Collar is the only close study of New Economy workplaces in their heyday. Andrew Ross, a renowned writer and scholar of American intellectual and social life, spent eighteen months deep inside Silicon Alley in residence at two prominent New Economy companies, Razorfish and 360hiphop, and interviewed a wide range of industry employees in other cities to write this remarkable book. Maverick in their organizations and permissive in their culture, these workplaces offered personal freedoms and rewards that were unheard of in corporate America. Employees feared they may never again enjoy such an irresistible work environment. Yet for every apparent benefit, there appeared to be a hidden cost: 70-hour workweeks, a lack of managerial protection, an oppressive shouldering of risk by employees, an illusory sense of power sharing, and no end of emotional churning. The industrialization of bohemia encouraged employees to think outside the box, but also allowed companies to claim their most free and creative thoughts and ideas. In these workplaces, Andrew Ross encountered a new kind of industrial personality, and emerged with a sobering lesson. Be careful what you wish for. When work becomes sufficiently humane, we tend to do far too much of it, and it usurps an unacceptable portion of our lives. He concludes that we should not have to choose between a personally gratifying and a just workplace, we should strive to enjoy both.
No Equal in the World is a comprehensive study of the literature on the American academic presidency from the middle of the nineteenth century—when the first universities, as distinct from colleges, began to emerge—to the present. The book surveys widely divergent literature on the biographies of major presidents at crucial moments in the history of their institutions. The book affords an overview of the development of both the role of the university president and the public’s perception of that role, and indicates where perception and reality diverge. At a time when university presidents must find their way through a minefield of increasingly heated debates over issues such as free speech, curriculum, faculty diversity, and the specter of “political correctness,” Crowley’s book provides a sense of history to those striving to understand the demands of the position. It is an invaluable resource for scholars.
We often think of finance as a glamorous world, a place where investment bankers amass huge profits in gleaming downtown skyscrapers. There’s another side to finance, though—the millions of amateurs who log on to their computers every day to make their own trades. The shocking truth, however, is that less than 2% of these amateur traders make a consistent profit. Why, then, do they do it?
In Noise, Alex Preda explores the world of the people who trade even when by all measures they would be better off not trading. Based on firsthand observations, interviews with traders and brokers, and on international direct trading experience, Preda’s fascinating ethnography investigates how ordinary people take up financial trading, how they form communities of their own behind their computer screens, and how electronic finance encourages them to trade more and more frequently. Along the way, Preda finds the answer to the paradox of amateur trading—the traders aren’t so much seeking monetary rewards in the financial markets, rather the trading itself helps them to fulfill their own personal goals and aspirations.
These articles include recent research on ways to incorporate the noncognitive side of ability in economic theory and to empirically assess and explain its role in labor market and behavioral outcomes. Contributions investigate the extent to which assignment of workers is determined by traditional cognitive variables and by personality traits. Also presented in this collection is research on the role of noncognitive skills in explaining the labor market position of underrepresented groups and research that integrates the economic and psychological theory and evidence on noncognitive skills.
This thorough volume offers up-to-date information and practical guidelines for board members and executives of nonprofit organizations large and small. Among the topics addressed are the historical roots of the voluntary sector in America, a complete discussion of the key responsibilities of nonprofit boards, suggestions for board organization, appropriate protocol for meetings, legal issues affecting nonprofit groups, and useful tools for self-assessment. This guide will be indispensable to the almost two million nonprofit organizations existing in the United States today.
Normal and Abnormal International Capital Transfers was first published in 1939. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions.
The North Carolina Shore and Its Barrier Islands is the latest volume in the series, Living with the Shore. Replacing an earlier volume, this thoroughly new book provides a diverse guide to one of America’s most popular shorelines. As is true for all books in the series, it is based on the premise that understanding the changing nature of beaches and barrier islands is essential if we are to preserve them for future generations. Evidence that the North Carolina shore is changing is never hard to find, but recently the devastation wrought by Hurricane Fran and the perilous situation of the historic lighthouse at Cape Hatteras have reminded all concerned of the fragility of this coast. Arguing for a policy of intelligent development, one in which residential and commercial structures meet rather than confront the changing nature of the shore, the authors have included practical information on hazards of many kinds—storms, tides, floods, erosion, island migration, and earthquakes. Diagrams and photographs clearly illustrate coastal processes and aid in understanding the impact of hurricanes and northeasters, wave and current dynamics, as well as pollution and other environmental destruction due to overdevelopment. A chapter on estuaries provides related information on the shores of back barrier areas that are growing in popularity for recreational residences. Risk maps focus on the natural hazards of each island and together with construction guidelines provide a basis for informed island management. Lastly, the dynamics of coastal politics and management are reviewed through an analysis of the controversies over the decision to move the Cape Hatteras lighthouse and a proposed effort to stabilize Oregon Inlet. From the natural and historic perspective of the opening chapters to the regional discussions of individual barrier islands, this book is both a primer on coastal processes for the first time visitor as well as a guide to hazard identification for property owners.
Not by Timber Alone presents the findings of the Harvard Institute for International Development study, commissioned by the International Tropical Timber Organization, that examined the economic value of tropical hardwood forests as productive living systems and the potential for their multiple use management.
In Not Quite a Cancer Vaccine, medical anthropologist S.D. Gottlieb explores how the vaccine Gardasil—developed against the most common sexually-transmitted infection, human papillomavirus (HPV)—was marketed primarily as a cervical cancer vaccine. Gardasil quickly became implicated in two pre-existing debates—about adolescent sexuality and pediatric vaccinations more generally.
Prior to its market debut, Gardasil seemed to offer female empowerment, touting protection against HPV and its potential for cervical cancer. Gottlieb questions the marketing pitch’s vaunted promise and asks why vaccine marketing unnecessarily gendered the vaccine’s utility, undermining Gardasil’s benefit for men and women alike. This book demonstrates why in the ten years since Gardasil’s U.S. launch its low rates of public acceptance have their origins in the early days of the vaccine dissemination. Not Quite a Cancer Vaccine addresses the on-going expansion in U.S. healthcare of patients-as-consumers and the ubiquitous, and sometimes insidious, health marketing of large pharma.
Since its publication in 1978, Jay R. Mandle’s The Roots of Black Poverty has come to be seen as a landmark publication in the study of the political economy of the postbellum South. In Not Slave, Not Free, Mandle substantially revises and updates his earlier work in light of significant new research. The new edition provides an enhanced historical perspective on the African American economic experience since emancipation. Not Slave, Not Free focuses first on rural southern society before World War II and the role played by African Americans in that setting. The South was the least developed part of the United States, a fact that Mandle considers fundamental in accounting for the poverty of African Americans in the years before the War. At the same time, however, the concentration of the black labor force in plantation work significantly retarded the South’s economic growth. Tracing the postwar migration of blacks from the South, Mandle shifts attention to the problems and opportunities that confronted African Americans in cities. He shows how occupational segregation and income growth accelerated this migration. Instrumental to an understanding of the history of the political economy of the United States, this book also directs readers and policymakers to the central issues confronting African Americans today.
Modern health care cannot exist without professional nurses. Throughout the twentieth century, there was seldom a sustained period when the supply of nurses was equal to demand. Whether the complaint was too many or too few, there has been little satisfaction with the number of nurses working at any point of time since the inception of American professional nursing. Nursing the Nation offers a historical analysis of the relationship between the development of nurse employment arrangements with patients and institutions and the appearance of nurse shortages from 1890-1950. The response to nursing supply and demand problems by health care institutions and policy making organizations failed to address nurse workforce issues adequately, and this failure resulted in, at times, profound and lengthy nurse shortages. Nurses also lost the ability to control their own destiny within health care institutions while nevertheless establishing themselves as the most critical part of health care provision today.