Communism, once heralded as the "radiant future" of all humanity, has now become part of Eastern Europe's past. What does the record say about the legacy of communism as an organizational system?

Michael Burawoy and Janos Lukacs consider this question from the standpoint of the Hungarian working class. Between 1983 and 1990 the authors carried out intensive studies in two core Hungarian industries, machine building and steel production, to produce the first extended participant-observation study of work and politics in state socialism.

"A fascinating and engagingly written eyewitness report on proletarian life in the waning years of goulash communism. . . . A richly rewarding book, one that should interest political scientists in a variety of subfields, from area specialists and comparativists to political economists, as well as those interested in Marxist and post-Marxist theory."—Elizabeth Kiss, American Political Science Review

"A very rich book. . . . It does not merely offer another theory of transition, but also presents a clear interpretive scheme, combined with sociological theory and vivid ethnographic description."—Ireneusz Bialecki, Contemporary Sociology

"Its informed skepticism of post-Communist liberal euphoria, its concern for workers, and its fine ethnographic details make this work valuable."—"àkos Róna-Tas, American Journal of Sociology

"Several areas in economics today have unprecedented significance and vitality. Most people would agree that stabilization policy ranks with the highest of these. Continuing inflation and periodic serious acceleration of inflation combined with high and secularly rising unemployment combine to give the area high priority. This book brings us up to date on an extremely lively discussion involving the role of expectations, and more particularly rational expectations, in the conduct of stabilization policy. . . . Anyone interested in the role of government in economics should read this important book."—C. Glyn Williams, The Wall Street Review of Books

"This is a most timely and valuable contribution. . . . The contributors and commentators are highly distinguished and the editor has usefully collated comments and the ensuing discussion. Unusually for a conference proceedings the book is well indexed and it is also replete with numerous and up-to-date references. . . . This is the first serious book to examine the rational expectations thesis in any depth, and it will prove invaluable to anyone involved with macroeconomic policy generally and with monetary economics in particular."—G. K. Shaw, The Economic Journal

The debt crisis of 1982 caused serious economic disruptions in most developing countries. Reform, Recovery, and Growth explains why some of these countries have recovered from the debt crisis, while more than a decade later others continue to stagnate.

Among the questions addressed are: What are the requirements for a stabilization policy that reduces inflation in a reasonable amount of time at an acceptable cost? What are the effects of structural reforms, especially trade liberalization, deregulation, and privatization, on growth in the short and long runs? How do macroeconomic instability and adjustment policies affect income distribution and poverty? How does the specific design of structural adjustment efforts affect results?

In this companion to Macroeconomics of Populism in Latin America, the authors confirm that macroeconomic stability has a positive effect on income distribution. The volume presents case studies that describe in detail the stabilization experiences in Brazil, Israel, Argentina, and Bolivia, and also includes discussion of Chile, Mexico, Peru, and Turkey.

The authors—historians, sociologists, anthropologists, economists, literary critics and linguists from Ukraine, Poland, Switzerland, Germany and the USA—explicitly go beyond the perspective of an entity defined by traditional political borders and cultural, economic, historical or religious stereotypes. The research project that led to the composition of the book combined quantitative (statistical surveys conducted across Ukraine) and qualitative (in-depth interviews and focus-group discussion) methods. The authors came to the conclusion that regionalism as a defining phenomenon of Ukraine is more prominent than the regions themselves. This approach regards Ukraine as a construct in flux where different discourses intersect, concur and eventually merge through the lenses of various disciplines and methodologies.

How has the United States government grown? What political and economic factors have given rise to its regulation of the economy? These eight case studies explore the late-nineteenth- and early twentieth-century origins of government intervention in the United States economy, focusing on the political influence of special interest groups in the development of economic regulation.

The Regulated Economy examines how constituent groups emerged and demanded government action to solve perceived economic problems, such as exorbitant railroad and utility rates, bank failure, falling agricultural prices, the immigration of low-skilled workers, workplace injury, and the financing of government. The contributors look at how preexisting policies, institutions, and market structures shaped regulatory activity; the origins of regulatory movements at the state and local levels; the effects of consensus-building on the timing and content of legislation; and how well government policies reflect constituency interests.

A wide-ranging historical view of the way interest group demands and political bargaining have influenced the growth of economic regulation in the United States, this book is important reading for economists, political scientists, and public policy experts.

The 1980s were one of the most turbulent decades in Central America’s history, a history that has been marked by more than its share of strife and upheaval. The wars, economic hardship, and political unrest and instability that have dominated news of the region have been years in the making, the products of flawed and inequitable economic, social, and political structures.
The International Commission for Central American Recovery and Development (ICCARD) was formed to provide a thorough diagnosis and analysis of Central America’s problems and to draft a comprehensive long-term strategy to move the region from decline to development. In this report ICCARD—through forty-five international experts in economics, public policy, management, and development it assembled for this purpose—attempts to rise above rhetoric and simplistic remedies to focus on well-reasoned, thorough, and realistic approaches to economic and social development.
This volume reviews the unequal access of marginal groups to political and economic participation, the precarious situation of Central American financial institutions, the international debt situation, the prospects for regional political and economic integration, and other aspects of regional development. Each of these challenges is addressed by specific recommendations to the Central American governments, the governments of the industrialized nations, and international organizations.

Resourceful Kingdoms investigates the struggle for control over Uganda’s emerging oil sector, centering on the Bunyoro Kingdom’s unsuccessful effort to secure ownership of resources discovered on its ancestral lands. Drawing on extensive fieldwork, the book shows how the military-backed National Resistance Movement government consolidated authority over an estimated two billion barrels of oil, while Bunyoro communities experienced displacement, land loss, political tension, and significant environmental harm even before production began. The Bunyoro case reflects a wider pattern in which rural, resource-rich populations across Africa are marginalized as governments and multinational corporations convert natural resources into state-centered revenues.

The book further explores how indigenous kingdoms might come to own resources and channel revenues toward sustainable, culturally grounded development. Through comparative case studies of Uganda’s powerful Buganda Kingdom and South Africa’s Bafokeng Kingdom—widely recognized for community-based mineral ownership and effective wealth management—Resourceful Kingdoms illustrates how traditional institutions can pair with corporate structures, private land ownership, and diversified investment strategies to strengthen community prosperity.

From this analysis emerges strategic coexistence, a new framework that outlines how kingdoms can secure resource rights independent of shifting state policies or corporate social-responsibility initiatives. Presented as both a philosophy and a set of practical steps, strategic coexistence urges kingdoms to formalize land ownership, build strong indigenous governance systems, create community-owned corporations, reinvest resource revenues in long-term development, and transition away from dependence on extractive industries. Resourceful Kingdoms ultimately repositions African kingdoms as dynamic, contemporary governance institutions with significant potential to influence natural resource administration and advance community well-being.

In the late nineteenth century, public officials throughout the United States began to experiment with new methods of managing their local economies and meeting the infrastructure needs of a newly urban, industrial nation. Stymied by legal and financial barriers, they created a new class of quasi-public agencies called public authorities. Today these entities operate at all levels of government, and range from tiny operations like the Springfield Parking Authority in Massachusetts, which runs thirteen parking lots and garages, to mammoth enterprises like the Tennessee Valley Authority, with nearly twelve billion dollars in revenues each year.

 

In The Rise of the Public Authority, Gail Radford recounts the history of these inscrutable agencies, examining how and why they were established, the varied forms they have taken, and how these pervasive but elusive mechanisms have molded our economy and politics over the past hundred years.

 

The stunning collapse of the thrift industry, the major stock slump of 1987, rising corporate debt, wild fluctuations of currency exchange rates, and a rash of defaults on developing country debts have revived fading memories of the Great Depression and fueled fears of an impending economic crisis. Under what conditions are financial markets vulnerable to disruption and what economic consequences ensue when these markets break down?

In this accessible and thought-provoking volume, Benjamin M. Friedman investigates the origins of financial crisis in domestic capital markets, Paul Krugman examines the international origins and transmission of financial and economic crises, and Lawrence H. Summers explores the transition from financial crisis to economic collapse. In the introductory essay, Martin Feldstein reviews the major financial problems of the 1980s and discusses lessons to be learned from this experience. The book also contains provocative observations by senior academics and others who have played leading roles in business and government.

A classic work in political philosophy, intellectual and cultural history, and economics, The Road to Serfdom has inspired and infuriated politicians, scholars, and general readers for half a century. Originally published in England in the spring of 1944—when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program—The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would inevitably lead not to a utopia but to the horrors of nazi Germany and fascist Italy.

First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate attention from the public, politicians, and scholars alike. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 were sold. In April of 1945, Reader's Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this condensation to more than 600,000 readers. A perennial best-seller, the book has sold over a quarter of a million copies in the United States, not including the British edition or the nearly twenty translations into such languages as German, French, Dutch, Swedish, and Japanese, and not to mention the many underground editions produced in Eastern Europe before the fall of the iron curtain.

After thirty-two printings in the United States, The Road to Serfdom has established itself alongside the works of Alexis de Tocqueville, John Stuart Mill, and George Orwell for its timeless meditation on the relation between individual liberty and government authority. This fiftieth anniversary edition, with a new introduction by Milton Friedman, commemorates the enduring influence of The Road to Serfdom on the ever-changing political and social climates of the twentieth century, from the rise of socialism after World War II to the Reagan and Thatcher "revolutions" in the 1980s and the transitions in Eastern Europe from communism to capitalism in the 1990s.

F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century.

On the first American edition of The Road to Serfdom:
"One of the most important books of our generation. . . . It restates for our time the issue between liberty and authority with the power and rigor of reasoning with which John Stuart Mill stated the issue for his own generation in his great essay On Liberty. . . . It is an arresting call to all well-intentioned planners and socialists, to all those who are sincere democrats and liberals at heart to stop, look and listen."—Henry Hazlitt, New York Times Book Review, September 1944

"In the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often—at any rate, it is not being said nearly often enough—that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of."—George Orwell, Collected Essays

The international flow of long-term private capital has increased dramatically in the 1990s. In fact, many policymakers now consider private foreign capital to be an essential resource for the acceleration of economic growth. This volume focuses attention on the microeconomic determinants and effects of foreign direct investment (FDI) in the East Asian region, allowing researchers to explore the overall structure of FDI, to offer case studies of individual countries, and to consider their insights, both general and particular, within the context of current economic theory.

The Role of Government in the History of Economic Thought examines a controversial area of economic analysis: the appropriate role of government within the economic system. If the first two-thirds of the twentieth century were dominated by the active involvement of economists in government policymaking, blurring the lines between the spheres of economics and politics, then the last several decades have witnessed something of a reversion to the classical economics of Adam Smith and John Stuart Mill. This volume offers a comprehensive and integrated history of the evolution of the relationship between governments and economies, examining the British classical tradition, the American progressive movement, and corporatist ideology.