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Imagined Futures
Fictional Expectations and Capitalist Dynamics
Jens Beckert
Harvard University Press, 2016

In a capitalist system, consumers, investors, and corporations orient their activities toward a future that contains opportunities and risks. How actors assess uncertainty is a problem that economists have tried to solve through general equilibrium and rational expectations theory. Powerful as these analytical tools are, they underestimate the future’s unknowability by assuming that markets, in the aggregate, correctly forecast what is to come.

Jens Beckert adds a new chapter to the theory of capitalism by demonstrating how fictional expectations drive modern economies—or throw them into crisis when the imagined futures fail to materialize. Collectively held images of how the future will unfold are critical because they free economic actors from paralyzing doubt, enabling them to commit resources and coordinate decisions even if those expectations prove inaccurate. Beckert distinguishes fictional expectations from performativity theory, which holds that predictions tend to become self-fulfilling prophecies. Economic forecasts are important not because they produce the futures they envision but because they create the expectations that generate economic activity in the first place. Actors pursue money, investments, innovations, and consumption only if they believe the objects obtained through market exchanges will retain value. We accept money because we believe in its future purchasing power. We accept the risk of capital investments and innovation because we expect profit. And we purchase consumer goods based on dreams of satisfaction.

As Imagined Futures shows, those who ignore the role of real uncertainty and fictional expectations in market dynamics misunderstand the nature of capitalism.

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Immigrant Crossroads
Globalization, Incorporation, and Placemaking in Queens, New York
Edited by Tarry Hum, Ron Hayduk, Francois Pierre-Louis Jr., and Michael Alan Krasner
Temple University Press, 2021

Nearly half the 2.3 million residents of Queens, New York are foreign-born. Immigrants in Queens hail from more than 120 countries and speak more than 135 languages. As an epicenter of immigrant diversity, Queens is an urban gateway that exemplifies opportunities and challenges in shaping a multi-racial democracy. 

The editors and contributors to Immigrant Crossroads examine the social, spatial, economic, and political dynamics that stem from this fast-growing urbanization. The interdisciplinary chapters examine residential patterns and neighborhood identities, immigrant incorporation and mobilizations, and community building and activism.

Essays combine qualitative and quantitative research methods to address globalization and the unprecedented racial and ethnic diversity as a result of international migration. Chapters on incorporation focus on immigrant participation and representation in electoral politics, and advocacy for immigrant inclusion in urban governance and service provision. A section of Immigrant Crossroads concerns placemaking, focusing on the production of neighborhood spaces and identities as well as immigrant activism and community development and control.

Based on engaged and robust analysis, Immigrant Crossroads highlights the dynamics of this urban gateway.

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Immigrants and Boomers
Forging a New Social Contract for the Future of America
Dowell Myers
Russell Sage Foundation, 2007
"This story of hope for both immigrants and native-born Americans is a well-researched, insightful, and illuminating study that provides compelling evidence to support a policy of homegrown human investment as a new priority. A timely, valuable addition to demographic and immigration studies. Highly recommended." —Choice Virtually unnoticed in the contentious national debate over immigration is the significant demographic change about to occur as the first wave of the Baby Boom generation retires, slowly draining the workforce and straining the federal budget to the breaking point.  In this forward-looking new book, noted demographer Dowell Myers proposes a new way of thinking about the influx of immigrants and the impending retirement of the Baby Boomers. Myers argues that each of these two powerful demographic shifts may hold the keys to resolving the problems presented by the other. Immigrants and Boomers looks to California as a bellwether state—where whites are no longer a majority of the population and represent just a third of residents under age twenty—to afford us a glimpse into the future impact of immigration on the rest of the nation. Myers opens with an examination of the roots of voter resistance to providing social services for immigrants. Drawing on detailed census data, Myers demonstrates that long-established immigrants have been far more successful than the public believes. Among the Latinos who make up the bulk of California's immigrant population, those who have lived in California for over a decade show high levels of social mobility and use of English, and 50 percent of Latino immigrants become homeowners after twenty years. The impressive progress made by immigrant families suggests they have the potential to pick up the slack from aging boomers over the next two decades. The mass retirement of the boomers will leave critical shortages in the educated workforce, while shrinking ranks of middle-class tax payers and driving up entitlement expenditures. In addition, as retirees sell off their housing assets, the prospect of a generational collapse in housing prices looms. Myers suggests that it is in the boomers' best interest to invest in the education and integration of immigrants and their children today in order to bolster the ranks of workers, taxpayers, and homeowners America they will depend on ten and twenty years from now. In this compelling, optimistic book, Myers calls for a new social contract between the older and younger generations, based on their mutual interests and the moral responsibility of each generation to provide for children and the elderly. Combining a rich scholarly perspective with keen insight into contemporary political dilemmas, Immigrants and Boomers creates a new framework for understanding the demographic challenges facing America and forging a national consensus to address them.
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Immigration and Opportuntity
Race, Ethnicity, and Employment in the United States
Frank D. Bean
Russell Sage Foundation, 1999
The American dream of equal opportunity and social mobility still holds a powerful appeal for the many immigrants who arrive in this country each year. but if immigrant success stories symbolize the fulfillment of the American dream, the persistent inequality suffered by native-born African Americans demonstrates the dream's limits. Although the experience of blacks and immigrants in the United States are not directly comparable, their fates are connected in ways that are seldom recognized. Immigration and Opportunity brings together leading sociologists and demographers to present a systematic account of the many ways in which immigration affects the labor market experiences of native-born African Americans. With the arrival of large numbers of nonwhite immigrants in recent decades, blacks now represent less than 50 percent of the U.S. minority population. Immigration and Opportunity reveals how immigration has transformed relations between minority populations in the United States, creating new forms of labor market competition between native and immigrant minorities. Recent immigrants have concentrated in a handful of port-of-entry cities, breaking up established patterns of residential segregation,and, in some cases, contributing to the migration of native blacks out of these cities. Immigrants have secured many of the occupational niches once dominated by blacks and now pass these jobs on through ethnic hiring networks that exclude natives. At the same time, many native-born blacks find jobs in the public sector, which is closed to those immigrants who lack U.S. citizenship. While recent immigrants have unquestionably brought economic and cultural benefits to U.S. society, this volume makes it clear that the costs of increased immigration falls particularly heavily upon those native-born groups who are already disadvantaged. Even as large-scale immigration transforms the racial and ethnic make-up of U.S. society—forcing us to think about race and ethnicity in new ways—it demands that we pay renewed attention to the entrenched problems of racial disadvantage that still beset native-born African Americans.
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Immigration Economics
George J. Borjas
Harvard University Press, 2014

Millions of people—nearly 3 percent of the world’s population—no longer live in the country where they were born. Every day, migrants enter not only the United States but also developed countries without much of a history of immigration. Some of these nations have switched in a short span of time from being the source of immigrants to being a destination for them. International migration is today a central subject of research in modern labor economics, which seeks to put into perspective and explain this historic demographic transformation.

Immigration Economics synthesizes the theories, models, and econometric methods used to identify the causes and consequences of international labor flows. Economist George Borjas lays out with clarity and rigor a full spectrum of topics, including migrant worker selection and assimilation, the impact of immigration on labor markets and worker wages, and the economic benefits and losses that result from immigration.

Two important themes emerge: First, immigration has distributional consequences: some people gain, but some people lose. Second, immigrants are rational economic agents who attempt to do the best they can with the resources they have, and the same holds true for native workers of the countries that receive migrants. This straightforward behavioral proposition, Borjas argues, has crucial implications for how economists and policymakers should frame contemporary debates over immigration.

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Impure Cultures
University Biology and the World of Commerce
Daniel Lee Kleinman
University of Wisconsin Press, 2003

How are the worlds of university biology and commerce blurring? Many university leaders see the amalgamation of academic and commercial cultures as crucial to the future vitality of higher education in the United States. In Impure Cultures, Daniel Lee Kleinman questions the effect of this blending on the character of academic science.

Using data he gathered as an ethnographic observer in a plant pathology lab at the University of Wisconsin–Madison, Kleinman examines the infinite and inescapable influence of the commercial world on biology in academia today. Contrary to much of the existing literature and common policy practices, he argues that the direct and explicit relations between university scientists and industrial concerns are not the gravest threat to academic research. Rather, Kleinman points to the less direct, but more deeply-rooted effects of commercial factors on the practice of university biology. He shows that to truly understand research done at universities today, it is first necessary to explore the systematic, pervasive, and indirect effects of the commercial world on contemporary academic practice.

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In Levittown’s Shadow
Poverty in America’s Wealthiest Postwar Suburb
Tim Keogh
University of Chicago Press, 2023
Named one of the best nonfiction books of 2023 by Publishers Weekly!
 
There is a familiar narrative about American suburbs: after 1945, white residents left cities for leafy, affluent subdivisions and the prosperity they seemed to embody. In Levittown’s Shadow tells us there’s more to this story, offering an eye-opening account of diverse, poor residents living and working in those same neighborhoods. Tim Keogh shows how public policies produced both suburban plenty and deprivation—and why ignoring suburban poverty doomed efforts to reduce inequality.
 
Keogh focuses on the suburbs of Long Island, home to Levittown, often considered the archetypal suburb. Here military contracts subsidized well-paid employment welding airplanes or filing paperwork, while weak labor laws impoverished suburbanites who mowed lawns, built houses, scrubbed kitchen floors, and stocked supermarket shelves. Federal mortgage programs helped some families buy orderly single-family homes and enter the middle class but also underwrote landlord efforts to cram poor families into suburban attics, basements, and sheds. Keogh explores how policymakers ignored suburban inequality, addressing housing segregation between cities and suburbs rather than suburbanites’ demands for decent jobs, housing, and schools.
 
By turning our attention to the suburban poor, Keogh reveals poverty wasn’t just an urban problem but a suburban one, too. In Levittown’s Shadow deepens our understanding of suburbia’s history—and points us toward more effective ways to combat poverty today.
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In Praise of Commercial Culture
Tyler Cowen
Harvard University Press, 2000

Does a market economy encourage or discourage music, literature, and the visual arts? Do economic forces of supply and demand help or harm the pursuit of creativity? This book seeks to redress the current intellectual and popular balance and to encourage a more favorable attitude toward the commercialization of culture that we associate with modernity. Economist Tyler Cowen argues that the capitalist market economy is a vital but underappreciated institutional framework for supporting a plurality of coexisting artistic visions, providing a steady stream of new and satisfying creations, supporting both high and low culture, helping consumers and artists refine their tastes, and paying homage to the past by capturing, reproducing, and disseminating it. Contemporary culture, Cowen argues, is flourishing in its various manifestations, including the visual arts, literature, music, architecture, and the cinema.

Successful high culture usually comes out of a healthy and prosperous popular culture. Shakespeare and Mozart were highly popular in their own time. Beethoven’s later, less accessible music was made possible in part by his early popularity. Today, consumer demand ensures that archival blues recordings, a wide array of past and current symphonies, and this week’s Top 40 hit sit side by side in the music megastore. High and low culture indeed complement each other.

Cowen’s philosophy of cultural optimism stands in opposition to the many varieties of cultural pessimism found among conservatives, neoconservatives, the Frankfurt School, and some versions of the political correctness and multiculturalist movements, as well as historical figures, including Rousseau and Plato. He shows that even when contemporary culture is thriving, it appears degenerate, as evidenced by the widespread acceptance of pessimism. He ends by considering the reasons why cultural pessimism has such a powerful hold on intellectuals and opinion-makers.

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In Pursuit of Leviathan
Technology, Institutions, Productivity, and Profits in American Whaling, 1816-1906
Lance E. Davis, Robert E. Gallman, and Karin Gleiter
University of Chicago Press, 1997
In Pursuit of Leviathan traces the American whaling industry from its rise in the 1840s to its precipitous fall at the end of the nineteenth century. Using detailed and comprehensive data that describe more than four thousand whaling voyages from New Bedford, Massachusetts, the leading nineteenth-century whaling port, the authors explore the market for whale products, crew quality and labor contracts, and whale biology and distribution, and assess the productivity of the American fleet. They then examine new whaling techniques developed at the end of the nineteenth century, such as modified clippers and harpoons, and the introduction of darting guns. Despite the common belief that the whaling industry declined due to a fall in whale stocks, the authors argue that the industry's collapse was related to changes in technology and market conditions.

Providing a wealth of historical information, In Pursuit of Leviathan is a classic industry study that will provide intriguing reading for anyone interested in the history of whaling.
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In Search of the Amazon
Brazil, the United States, and the Nature of a Region
Seth Garfield
Duke University Press, 2013
Chronicling the dramatic history of the Brazilian Amazon during the Second World War, Seth Garfield provides fresh perspectives on contemporary environmental debates. His multifaceted analysis explains how the Amazon became the object of geopolitical rivalries, state planning, media coverage, popular fascination, and social conflict. In need of rubber, a vital war material, the United States spent millions of dollars to revive the Amazon's rubber trade. In the name of development and national security, Brazilian officials implemented public programs to engineer the hinterland's transformation. Migrants from Brazil's drought-stricken Northeast flocked to the Amazon in search of work. In defense of traditional ways of life, longtime Amazon residents sought to temper outside intervention. Garfield's environmental history offers an integrated analysis of the struggles among distinct social groups over resources and power in the Amazon, as well as the repercussions of those wartime conflicts in the decades to come.
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In the Hurricane’s Eye
The Troubled Prospects of Multinational Enterprises
Raymond Vernon
Harvard University Press, 1998

The world’s multinational enterprises face a spell of rough weather, political economist Ray Vernon argues, not only from the host countries in which they have established their subsidiaries, but also from their home countries. Such enterprises—a few thousand in number, including Microsoft, Toyota, IBM, Siemens, Samsung, and others—now generate about half of the world’s industrial output and half of the world’s foreign trade; so any change in the relatively benign climate in which they have operated over the past decade will create serious tensions in international economic relations.

The warnings of such a change are already here. In the United States, interests such as labor are increasingly hostile to what they see as the costs and uncertainties of an open economy. In Europe, those who want to preserve the social safety net and those who feel that the net must be dismantled are increasingly at odds. In Japan, the talk of “hollowing out” takes on a new urgency as the country’s “lifetime employment” practices are threatened and as public and private institutions are subjected to unaccustomed stress. The tendency of multinationals in different countries to find common cause in open markets, strong patents and trademarks, and international technical standards has been viewed as a loss of national sovereignty and a weakening of the nation-state system, producing hostile reactions in home countries.

The challenge for policy makers, Vernon argues, is to bridge the quite different regimes of the multinational enterprise and the nation-state. Both have a major role to play, and yet must make basic changes in their practices and policies to accommodate each other.

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InDEBTed to Intervene
Critical Lessons in Debt, Communication, Art, and Theoretical Practice
Oliver Vodeb and Nikola Janovic Kolenc
Intellect Books, 2013
As governments and individuals struggle with growing indebtedness, the topic of debt itself—what it is, what it means, and how we understand it—has never been more salient. This collection brings together a range of contributions from many disciplines and around the world to consider debt through various lenses, including design, art, technology, political economy, social justice, surveillance, protest, education, urban and virtual spaces, and more. Aiming not just to advance scholarship, but to push ahead real change in the world, the book offers not only analytical insights and conceptual apparatuses, but practical tools and radical inspirations as well. A powerful analysis of a concept that has become ever more central to everyday society, Indebted to Intervene will be essential reading for scholars and citizens alike.
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Inequality and the Global Economic Crisis
Douglas Dowd
Pluto Press, 2009

Inequality, per se, has been with us for millennia. With the creation, growth and deepening of Capitalism across the globe, inequalities take on new dimensions, unknown in previous eras. As Capitalism has spread its wings across the globe over the last 200 or so years, so inequalities have deepened and widened, both inside Nation Sates, between nation States. These inequalities are of income, wealth and of power.

This book, written by the widely respected economic historian Douglas Dowd at the age of 90, is notable for his own experience and vivid memory, of the 1929-31 recession. Since the 1980s, and the predominance of the present neo-liberal ideology, all of the inequalities that the book presents have grown rapidly. Written as a critique of the counter-productivity of growing economic inequality and vindicated by the present world banking crisis, Dowd presents a strong argument against capitalist expansion, exploitation and oligarchic rule.

Dowd's conclusions, that the globalization and growth of the financial sector will impact painfully upon hundreds of millions of people, unknown to most of us in our lifetime, Dowd's book deals with these issues from the unique perspective of inequality. Presenting both a history of the current crisis and an overview of it's, Inequality will appeal to both a broad general readership, and provides an extremely useful reference point for students of political economy, economic history, contemporary economics and global politics.

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Information, Incentives, and Education Policy
Derek A. Neal
Harvard University Press, 2018

How do we ensure that waste and inefficiency do not undermine the mission of publicly funded schools? Derek Neal writes that economists must analyze education policy in the same way they analyze other procurement problems. Insights from research on incentives and contracts in the private sector point to new approaches that could induce publicly funded educators to provide excellent education, even though taxpayers and parents cannot monitor what happens in the classroom.

Information, Incentives, and Education Policy introduces readers to what economists know—and do not know—about the logjams created by misinformation and disincentives in education. Examining a range of policy agendas, from assessment-based accountability and centralized school assignments to charter schools and voucher systems, Neal demonstrates where these programs have been successful, where they have failed, and why. The details clearly matter: there is no quick-and-easy fix for education policy. By combining elements from various approaches, economists can help policy makers design optimal reforms.

Information, Incentives, and Education Policy is organized to show readers how standard tools from economics research on information and incentives speak directly to some of the most crucial issues in education today. In addition to providing an overview of the pluses and minuses of particular programs, each chapter includes a series of exercises that allow students of economics to work through the mathematics for themselves or with an instructor’s assistance. For those who wish to master the models and tools that economists of education should use in their work, there is no better resource available.

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Inheritance of Loss
China, Japan, and the Political Economy of Redemption after Empire
Yukiko Koga
University of Chicago Press, 2016
How do contemporary generations come to terms with losses inflicted by imperialism, colonialism, and war that took place decades ago? How do descendants of perpetrators and victims establish new relations in today’s globalized economy? With Inheritance of Loss, Yukiko Koga approaches these questions through the unique lens of inheritance, focusing on Northeast China, the former site of the Japanese puppet state Manchukuo, where municipal governments now court Japanese as investors and tourists. As China transitions to a market-oriented society, this region is restoring long-neglected colonial-era structures to boost tourism and inviting former colonial industries to create special economic zones, all while inadvertently unearthing chemical weapons abandoned by the Imperial Japanese Army at the end of World War II.
 
Inheritance of Loss chronicles these sites of colonial inheritance––tourist destinations, corporate zones, and mustard gas exposure sites––to illustrate attempts by ordinary Chinese and Japanese to reckon with their shared yet contested pasts. In her explorations of everyday life, Koga directs us to see how the violence and injustice that occurred after the demise of the Japanese Empire compound the losses that later generations must account for, and inevitably inherit.
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Innovation and Public Policy
Austan Goolsbee and Benjamin F. Jones
University of Chicago Press, 2021
Using the latest empirical and conceptual research for readers in economics, business, and policy, this volume surveys the key components of innovation policy and the social returns to innovation investment. 

In advanced economies like the United States, innovation has long been recognized as a central force for increasing economic prosperity and human welfare. Today, the US government promotes innovation through various mechanisms, including tax credits for private-sector research, grant support for basic and applied research, and institutions like the Small Business Innovation Research Program of the National Science Foundation. Drawing on the latest empirical and conceptual research, Innovation and Public Policy surveys the key components of innovation policy and the social returns to innovation investment. It examines mechanisms that can advance the pace of invention and innovative activity, including expanding the research workforce through schooling and immigration policy and funding basic research. It also considers scientific grant systems for funding basic research, including those at institutions like the National Institutes of Health and the National Science Foundation, and investigates the role of entrepreneurship policy and of other institutions that promote an environment conducive to scientific breakthroughs.
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Innovation Equity
Assessing and Managing the Monetary Value of New Products and Services
Elie Ofek, Eitan Muller, and Barak Libai
University of Chicago Press, 2016
From drones to wearable technology to Hyperloop pods that can potentially travel more than seven hundred miles per hour, we’re fascinated with new products and technologies that seem to come straight out of science fiction. But, innovations are not only fascinating, they’re polarizing, as, all too quickly, skepticism regarding their commercial viability starts to creep in. And while fortunes depend on people’s ability to properly assess their prospects for success, no one can really agree on how to do it, especially for truly radical new products and services.

In Innovation Equity, Elie Ofek, Eitan Muller, and Barak Libai analyze how a vast array of past innovations performed in the marketplace—from their launch to the moment they became everyday products to the phase where consumers moved on to the “next big thing.” They identify key patterns in how consumers adopt innovations and integrate these with marketing scholarship on how companies manage their customer base by attracting new customers, keeping current customers satisfied, and preventing customers from switching to competitors’ products and services. In doing so, the authors produce concrete models that powerfully predict how the marketplace will respond to innovations, providing a much more authoritative way to estimate their potential monetary value, as well as a framework for making it possible to achieve that value.
 
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Innovation Policy and the Economy 2013
Volume 14
Edited by Josh Lerner and Scott Stern
University of Chicago Press Journals, 2014
Appreciation of the importance of innovation to the economy has increased over the past decade. There is an active debate regarding the implications of technological change for economic policy and the appropriate policies and programs regarding research, innovation, and the commercialization of new technology. This debate has only intensified as policymakers focus on new sources of innovation and growth in light of the recent economic downturn and the associated focus on enhancing employment and growth. Four of the five papers in this year’s volume highlight the increasing role of the Internet and digitization in our understanding of the changing nature of innovation and entrepreneurship, and the impact of innovation policy. The first offers an overview of the impact of “Big Data” on the ability to conduct novel types of measurement and research in economics and related fields. The second highlights the increasingly sophisticated and creative research designs that have been used to evaluate the interplay between piracy, the availability of legitimate digital channels, and the impact of anti-piracy enforcement efforts. The third paper provides an overview of the rapidly emerging area of crowdfunding. The fourth addresses the underpinnings of much of the digital economy by focusing on the institutional logic of standard-setting organizations and the conditions that allow standard-setting bodies to function and achieve their objectives. The final paper focuses on the interplay between geographic clusters, entrepreneurship, and innovation.
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Innovation—The Missing Dimension
Richard K. Lester and Michael J. Piore
Harvard University Press, 2006

Amid mounting concern over the loss of jobs to low-wage economies, one fact is clear: America's prosperity hinges on the ability of its businesses to continually introduce new products and services. But what makes for a creative economy? How can the remarkable surge of innovation that fueled the boom of the 1990s be sustained?

For an answer, Richard K. Lester and Michael J. Piore examine innovation strategies in some of the economy's most dynamic sectors. Through eye-opening case studies of new product development in fields such as cell phones, medical devices, and blue jeans, two fundamental processes emerge.

One of these processes, analysis--rational problem solving--dominates management and engineering practice. The other, interpretation, is not widely understood, or even recognized--although, as the authors make clear, it is absolutely crucial to innovation. Unlike problem solving, interpretation embraces and exploits ambiguity, the wellspring of creativity in the economy. By emphasizing interpretation, and showing how these two radically different processes can be combined, Lester and Piore's book gives managers and designers the concepts and tools to keep new products flowing.

But the authors also offer an unsettling critique of national policy. By ignoring the role of interpretation, economic policymakers are drawing the wrong lessons from the 1990s boom. The current emphasis on expanding the reach of market competition will help the analytical processes needed to implement innovation. But if unchecked it risks choking off the economy's vital interpretive spaces. Unless a more balanced policy approach is adopted, warn Lester and Piore, America's capacity to innovate--its greatest economic asset--will erode.

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Inquiries in the Economics of Aging
Edited by David A. Wise
University of Chicago Press, 1998
For over a decade, the National Bureau of Economic Research has sponsored the Economics of Aging Program, under the direction of David A. Wise. The program addresses issues that affect the well-being of individuals as they age and a society that is composed increasingly of older people.

Within the next twenty years, an unprecedented proportion of Americans will be over sixty-five. New research in the economics of aging is an essential element of understanding what the future holds for this aging population. Inquiries in the Economics of Aging presents both empirical papers that consider questions that are fundamental to public policy and more theoretical contributions that lay new groundwork for future research in the economics of aging.

Inquiries in the Economics of Aging provides a timely overview of some of the most important questions facing researchers on aging and outlines new techniques and models that may help to answer these questions. This important volume will be of great interest to specialists and policy makers as it paves the way for future analysis.

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The Insatiability of Human Wants
Economics and Aesthetics in Market Society
Regenia Gagnier
University of Chicago Press, 2000
What is the relationship between our conception of humans as producers or creators; as consumers of taste and pleasure; and as creators of value? Combining cultural history, economics, and literary criticism, Regenia Gagnier's new work traces the parallel development of economic and aesthetic theory, offering a shrewd reading of humans as workers and wanters, born of labor and desire.

The Insatiability of Human Wants begins during a key transitional moment in aesthetic and economic theory, 1871, when both disciplines underwent a turn from production to consumption models. In economics, an emphasis on the theory of value and the social relations between land, labor, and capital gave way to more individualistic models of consumerism. Similarly, in aesthetics, theories of artistic production or creativity soon bowed to models of taste, pleasure, and reception.

Using these developments as a point of departure, Gagnier deftly traces the shift in Western thought from models of production to consumption. From its exploration of early market logic and Kantian thought to its look at the aestheticization of homelessness and our own market boom, The Insatiability of Human Wants invites us to contemplate alternative interpretations of economics, aesthetics, and history itself.
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Inside Colombia
Drugs, Democracy, and War
Livingstone, Grace
Rutgers University Press, 2004

The South American nation of Colombia has seen more than forty years of unrest, conflict, and civil war. It is a country in which social violence and warfare are intricately intertwined. Colombia is also notorious for its drug trade, being one of the leading producers of cocaine in the world, and for its central role as a staging ground for the U.S. “war on drugs.” Since 9/11 the Bush administration has sought to draw political links between the Colombian drug trade, guerrilla organizations, and terrorism.

Inside Colombia offers a valuable introduction and quick reference guide to this complex nation. With chapters devoted to history, human rights issues, the economy, drugs, the controversial antidrug intervention known as Plan Colombia, and relations with the United States, the book offers an easily accessible and comprehensive overview. Readers will learn about the major players in the conflicts, significant political figures, how Colombia’s economy has fared in the twentieth century, how the country’s geography influences its politics and economy, and how U.S. intervention shapes Colombia’s political scene.

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INSIDE PITCH AND MORE
BASEBALL'S BUSINESS AND THE PUBLIC TRUST
GENE A. BUDIG
West Virginia University Press, 2004

The Inside Pitch and More: Baseball’s Business and the Public Trust, written by former American League President Gene Budig, investigates the human and corporate sides of our nation’s pastime. Throughout the course of this book, the author systematically engages the myriad concerns of Major League Baseball, past, present, and future.

In The Inside Pitch and More, baseball’s economic prosperity is examined, as well as issues that hinder and threaten that perpetuity. Lately, baseball has been increasingly menaced by the popularity of other athletic venues - basketball, football, etc. Budig goes through the proposed methods of revitalizing the game of baseball. He emphasizes the need for a reevaluation of the relationship between the sport and its fan base so that the baseball will resume its role as America’s favorite pastime.

Based on his six years as president of the American League, Budig has composed a fascinating book, which is written to be enjoyed by the casual baseball fan as well as the serious student of this sport or sports management in general. The book is unique in that it is the first work to really dissect the sport of baseball by a retired high-ranking official with a wealth of information on the subject.

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Inside the Teaching Machine
Rhetoric and the Globalization of the U.S. Public Research University
Catherine Chaput
University of Alabama Press, 2008
Advocates of higher education have long contended that universities should operate above the crude material negotiations of economics and politics. Such arguments, ignore the historical reality that the American university system emerged through, and in service to, a capitalist political economy that unevenly combines corporate, state, and civil interests.
 
As the corporatization of U.S. universities becomes nearly impossible to deny, the common response from many academics has been a superior stand against the contamination of the professional ideal by tainted corporate interests. Inside the Teaching Machine proposes a correction to this view through the lens of historical materialism.
 
Chaput argues that the U.S. public research university has always been a vital component of the capitalist political economy. While conventional narratives of public higher education emphasize civic preparation and upward mobility, Chaput demonstrates that supposedly egalitarian policies like the Morrill Land-Grant Act and the G.I. Bill served the changing interests of capitalism much as education, creating a professional class that supports the capitalist political economy. Chaput also focuses on the relationship between American universities and globalization, showing how the trend toward professionalization contributes to the production of surplus value, and the ways that the American university model circulates outside the United States. Chaput concludes by advocating rhetorical strategies for the professional who opposes the capitalist logic of the global university system, proposing concrete options for engaging and redirecting globalization within the university system.
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Institutional Change, Discretion, and the Making of Modern Congress
An Economic Interpretation
Glenn R. Parker
University of Michigan Press, 1992
Controversial new interpretation of legislators' behavior
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Insufficient Funds
Savings, Assets, Credit, and Banking Among Low-Income Households
Rebecca M. Blank
Russell Sage Foundation, 2009
One in four American adults doesn’t have a bank account. Low-income families lack access to many of the basic financial services middle-class families take for granted and are particularly susceptible to financial emergencies, unemployment, loss of a home, and uninsured medical problems. Insufficient Funds explores how institutional constraints and individual decisions combine to produce this striking disparity and recommends policies to help alleviate the problem. Mainstream financial services are both less available and more expensive for low-income households. High fees, minimum-balance policies, and the relative scarcity of banks in poor neighborhoods are key factors. Michael Barr reports the results of an in-depth study of financial behavior in 1,000 low- and moderate-income families in metropolitan Detroit. He finds that most poor households have bank accounts, but combine use of mainstream services with alternative options such as money orders, pawnshops, and payday lenders. Barr suggests that a tax credit for banks serving primarily disadvantaged customers could facilitate greater equality in the private financial sector. Drawing on evidence from behavioral economics, Sendhil Mullainathan and Eldar Shafir show that low-income individuals exhibit many of the same patterns and weaknesses in financial decision making as middle-class individuals and could benefit from many of the same financial aids. They argue that savings programs that automatically enroll participants and require them to actively opt out in order to leave the program could drastically increase savings ability. Ronald Mann demonstrates that significant changes in the credit market over the past fifteen years have allowed companies to expand credit to a larger share of low-income families. Mann calls for regulations on credit card companies that would require greater disclosure of actual interest rates and fees. Raphael Bostic and Kwan Lee find that while home ownership has risen dramatically over the past twenty years, elevated risks for low-income families—such as foreclosure—may well outweigh the benefits of owning a home. The authors ultimately argue that if we want to demand financial responsibility from low-income households, we have an obligation to assure that these families have access to the banking, credit, and savings institutions that are readily available to higher-income families. Insufficient Funds highlights where and how access is blocked and shows how government policy and individual decisions could combine to eliminate many of these barriers in the future.
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Intellectual Property
Trade, Competition, and Sustainable Development The World Trade Forum, Volume 3
Thomas Cottier and Petros C. Mavroidis, Editors
University of Michigan Press, 2003
The incorporation of intellectual property protection into the WTO international trading system has been a milestone in international economic law and has added a new dimension to trade regulation — new rights and obligations and new challenges alike. The contributors, leading scholars and practitioners in the field, provide insights into the legal relationship of the TRIPs Agreement to the GATT 94 and the GATS. The book widens the debate with a thorough discussion on pending and unresolved relations of TRIPs, the WTO, UPOV, the Convention on Biodiversity and Farmers' Rights contained in the FAO International Undertaking, and efforts of the World Bank GCIAR system, including IPGRI. What will be the impact of TRIPs on ownership of plant genetic resources?
Largely a victory for OECD countries, the present state of intellectual property rights has important implications for developing countries. The incorporation of intellectual property rights into the WTO system will eventually change the relationship of trade, competition, and intellectual property. It will equally have to assist in providing equitable sharing of benefits in the use of plant genetic resources. All of these issues are essential for the revision of exclusions from patenting in TRIPs. This volume offers insights into how this difficult task could and should be approached in a balanced manner and will be essential reading for economists and trade and intellectual property lawyers interested in the subject. Moreover, the volume will be relevant to agricultural economists as it addresses complex problems in the interstices of trade, intellectual property, plant genetic resources, and sustainable development.
Thomas Cottier is Professor of European and International Economic Law, University of Bern, and Managing Director, World Trade Institute, University of Bern.
Petros C. Mavroidis is Professor of Law, University of Neuchâtel. He formerly worked in the Legal Affairs Division of the World Trade Organization.
Marion Panizzon is Research Fellow, University of Bern.
Simon Lacey is Research Fellow, University of Bern.
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International Comparisons of Household Saving
Edited by James M. Poterba
University of Chicago Press, 1994
Governments and corporations may chip in, but around the world houshold saving is the biggest factor in national saving. To better understand why saving rates differ across countries, this volume provides the most up-to-date analyses of patterns of household saving behavior in Canada, Italy, Japan, Germany, the United Kingdom, and the United States.

Each of the six chapters examines micro data sets of household saving within a particular country and summarizes statistics on patterns of saving by age, income, and other demographic factors. The authors provide age-earning profiles and analyses of the accumulation of wealth over the lifetime in a clear way that allows quick comparisons between earning, consumption, and saving in the six countries.
Designed as a companion to Public Policies and Household Saving (1994), which addresses saving policies in the G-7 nations, this volume offers detailed descriptions of saving behavior in all G-7 nations except France.
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International Financial Markets
The Challenge of Globalization
Edited by Leonardo Auernheimer
University of Chicago Press, 2003
As the globalization of financial markets continues, we urgently need to understand the crises that have plagued these markets and the policies best suited to preventing such crises in the future. In this book, a prominent group of economists and policymakers blend conceptual analysis and policy discussion in seven well-integrated papers, analyzing the nature of capital flows, alternative exchange-rate regimes, and the roles of international financial institutions.

After a guided tour by the editor and a historical exploration, some of the world's leading theorists and policy analysts examine the benefits and pitfalls of capital movements and controls. In the second portion, papers examine the recent experiences of Argentina and Mexico, with Charles Calomiris—whose proposals for a new world financial architecture have elicited wide attention—contributing a response. The volume concludes with a roundtable discussion of the report of the International Financial Institutions Advisory Commission, in which the chair of the commission, Allan H. Meltzer, both comments on the report and responds to questions about it.

The material presented here will become a standard reference for analysts, policymakers, and the interested general public.

Contributors:
Leonardo Auernheimer, Matthew Bishop, Michael D. Bordo, Charles Calomiris, Guillermo A. Calvo, Augustin Carstens, Michael P. Dooley, Pablo E. Guidotti, T. Britton Harris, John P. Lipsky, Guillermo Ortiz Martinez, Allan H. Meltzer, Andrew Powell, Rene Stulz, Carl E. Walsh
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The International Movie Industry
Edited by Gorham Kindem
Southern Illinois University Press, 2000

Movies are both art and commerce, creative expressions of national/cultural interests and preoccupations and part of a global entertainment market. The past century has witnessed a transformation of the movies from popular novelties into highly valued cultural icons and commodities that have promoted national identity and specific political agendas, while also affecting international trade.

This comprehensive history of the international movie industry from its inception in 1895 to the present features nineteen original essays by international scholars who examine the film industries of nineteen countries and six continents. Each chapter in The International Movie Industry focuses on a specific national movie industry’s economic and related social, aesthetic, technological, and political/ideological development within an international context during the last century. The result is a global history of the movie industry over the last one hundred years.

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International Trade in East Asia
Edited by Takatoshi Ito and Andrew K. Rose
University of Chicago Press, 2005
The practice of trading across international borders has undergone a series of changes with great consequences for the world trading community, the result of new trade agreements, a number of financial crises, the emergence of the World Trade Organization, and countless other less obvious developments. In International Trade in East Asia, a group of esteemed contributors provides a summary of empirical factors of international trade specifically as they pertain to East Asian countries such as China, Japan, Korea, and Taiwan.

Comprised of twelve fascinating studies, International Trade in East Asia highlights many of the trading practices between countries within the region as well as outside of it. The contributors bring into focus some of the region's endemic and external barriers to international trade and discuss strategies for improving productivity and fostering trade relationships. Studies on some of the factors that drive exports, the influence of research and development, the effects of foreign investment, and the ramifications of different types of protectionism will particularly resonate with the financial and economic communities who are trying to keep pace with this dramatically altered landscape.
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The Internet Challenge to Television
Bruce M. Owen
Harvard University Press, 1999

After a half-century of glacial creep, television technology has begun to change at the same dizzying pace as computer software. What this will mean--for television, for computers, and for the popular culture where these video media reign supreme--is the subject of this timely book. A noted communications economist, Bruce Owen supplies the essential background: a grasp of the economic history of the television industry and of the effects of technology and government regulation on its organization. He also explores recent developments associated with the growth of the Internet. With this history as a basis, his book allows readers to peer into the future--at the likely effects of television and the Internet on each other, for instance, and at the possibility of a convergence of the TV set, computer, and telephone.

The digital world that Owen shows us is one in which communication titans jockey to survive what Joseph Schumpeter called the "gales of creative destruction." While the rest of us simply struggle to follow the new moves, believing that technology will settle the outcome, Owen warns us that this is a game in which Washington regulators and media hyperbole figure as broadly as innovation and investment. His book explains the game as one involving interactions among all the players, including consumers and advertisers, each with a particular goal. And he discusses the economic principles that govern this game and that can serve as powerful predictive tools.

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Intricate Relations
Sexual and Economic Desire in American Fiction, 1789-1814
Karen A. Weyler
University of Iowa Press, 2005

Intricate Relations charts the development of the novel in and beyond the early republic in relation to these two thematic and intricately connected centers: sexuality and economics. By reading fiction written by Americans between 1789 and 1814 alongside medical theory, political and economic tracts, and pedagogical literature of all kinds, Karen Weyler recreates and illuminates the larger, sometimes opaque, cultural context in which novels were written, published, and read.

In 1799, the novelist Charles Brockden Brown used the evocative phrase “intricate relations” to describe the complex imbrication of sexual and economic relations in the early republic. Exploring these relationships, he argued, is the chief job of the “moral historian,” a label that most novelists of the era embraced. In a republic anxious about burgeoning individualism in the 1790s and the first two decades of the nineteenth century, the novel foregrounded sexual and economic desires and explored ways to regulate the manner in which they were expressed and gratified.

In Intricate Relations, Weyler argues that understanding how these issues underlie the novel as a genre is fundamental to understanding both the novels themselves and their role in American literary culture. Situating fiction amid other popular genres illuminates how novelists such as Charles Brockden Brown, Hannah Foster, Samuel Relf, Susanna Rowson, Rebecca Rush, and Sally Wood synthesized and iterated many of the concerns expressed in other forms of public discourse, a strategy that helped legitimate their chosen genre and make it a viable venue for discussion in the decades following the revolution.

Weyler’s passionate and persuasive study offers new insights into the civic role of fiction in the early republic and will be of great interest to literary theorists and scholars in women’s and American studies.

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Inventing a Soviet Countryside
State Power and the Transformation of Rural Russia, 1917–1929
James W. Heinzen
University of Pittsburgh Press, 2004

Following the largest peasant revolution in history, Russia's urban-based Bolshevik regime was faced with a monumental task: to peacefully “modernize” and eventually “socialize” the peasants in the countryside surrounding Russia's cities. To accomplish this, the Bolshevik leadership created the People's Commissariat of Agriculture (Narkomzem), which would eventually employ 70,000 workers. This commissariat was particularly important, both because of massive famine and because peasants composed the majority of Russia's population; it was also regarded as one of the most moderate state agencies because of its nonviolent approach to rural transformation.

Working from recently opened historical archives, James Heinzen presents a balanced, thorough examination of the political, social, and cultural dilemmas present in the Bolsheviks' strategy for modernizing of the peasantry. He especially focuses on  the state employees charged with no less than a complete transformation of an entire class of people. Heinzen ultimately shows how disputes among those involved in this plan-from the government, to Communist leaders, to the peasants themselves-led to the shuttering of the Commissariat of Agriculture and to Stalin's cataclysmic 1929 collectivization of agriculture.

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Investigations in the Economics of Aging
Edited by David A. Wise
University of Chicago Press, 2012

One of the most well-established relationships in the economics of aging is that between health and wealth. Yet this relationship is also changing in conjunction with a rapidly aging population as well as a broad evolution in how people live later in life.

Building on findings from earlier editions in this National Bureau of Economic Research series, Investigations in the Economics of Aging focuses on the changing financial circumstances of the elderly and the relationship of these circumstances to health and health care. Among the topics addressed are the significance of out-of-pocket health care costs, the effects of inflation on social security, and the impact of the recent financial crisis on Americans’ well-being. Encompassing new data and advances in research methodology, the developments presented in this volume will have important implications for economies worldwide.

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Investing in the Homeland
Migration, Social Ties, and Foreign Firms
Benjamin A.T. Graham
University of Michigan Press, 2019
Once viewed as a “brain drain,” migrants are increasingly viewed as a resource for promoting economic development back in their home countries. In Investing in the Homeland, Benjamin Graham finds that diasporans—migrants and their descendants—play a critical role in linking foreign firms to social networks in developing countries, allowing firms to flourish even in challenging political environments most foreign investors shun.

Graham’s analysis draws on new data from face-to-face interviews with the managers of over 450 foreign firms operating in two developing countries: Georgia and the Philippines. Diaspora-owned and diaspora-managed firms are better connected than other foreign firms and they use social ties to resolve disputes and influence government policy. At the same time, Graham shows that diaspora-affiliated firms are no more socially responsible than their purely foreign peers—at root, they are profit-seeking enterprises, not development NGOs. Graham identifies implications for policymakers seeking to capture the development potential of diaspora investment and for managers of multinational firms who want to harness diasporans as a source of sustained competitive advantage.
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Investment, Profit, and Tenancy
The Jurists and the Roman Agrarian Economy
Dennis P. Kehoe
University of Michigan Press, 1997
The economy of the Roman Empire was dominated by the business of agriculture. It employed the vast majority of the Empire's labor force and provided the wealth on which the upper classes depended for their social privileges. Consequently, the way in which upper-class Romans maintained and profited from their agricultural investments played a crucial role in shaping the basic relationships characterizing the Roman economy.
In Investment, Profit, and Tenancy Dennis P. Kehoe defines the economic mentality of upper-class Romans by analyzing the assumptions that Roman jurists in the Digest of Justinian made about investment and profit in agriculture as they addressed legal issues involving private property. In particular the author analyzes the duties of guardians in managing the property of their wards, and the bequeathing of agricultural property. He bases his analysis on Roman legal sources, which offer a comprehensive picture of the economic interests of upper-class Romans. Farm tenancy was crucial to these interests, and Kehoe carefully examines how Roman landowners contended with the legal, social, and economic institutions surrounding farm tenancy as they pursued security from their agricultural investments.
Kehoe argues that Roman jurists offer a consistent picture of agriculture as a form of investment that was grounded in upper-class conceptions of the Roman economy. In the eyes of the jurists, agriculture represented the only form of investment capable of providing upper-class Romans with economic security, and this situation had important implications for the relationship between landowners and tenants. Landowners who sought economic stability from their agricultural holdings preferred to simplify the task of managing their estates by delegating the work and costs to their tenants. This tended to make landowners depend on the expertise and resources of tenants, which in turn gave the tenants significant bargaining power. This dynamic relationship is traced in the jurists' regulation of farm tenancy, as the jurists adapted Roman law to the economic realities of the Roman empire.
Investment, Profit, and Tenancy will be of interest to classicists as well as to scholars of preindustrial comparative economics.
Dennis P. Kehoe is Professor of Classical Studies, Tulane University.
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Issues in Law and Economics
Harold Winter
University of Chicago Press, 2017
Is file-sharing destroying the music industry? Should the courts encourage breach of contract? Does the threat of malpractice lawsuits cause doctors to provide too much medical care? Do judges discriminate when sentencing? With Issues in Law and Economics, Harold Winter takes readers through these and other recent and controversial questions. In an accessible and engaging manner, Winter shows these legal issues can be reexamined through the use of economic analysis. Using real-world cases to highlight issues, Winter offers step-by-step analysis, guiding readers through the identification of the trade-offs involved in each issue and assessing the economic evidence from scholarly research before exploring how this research may be used to guide policy recommendations. The book is divided into four sections, covering the basic practice areas of property, contracts, torts, and crime, with a fifth section devoted to a concise introduction to the topic of behavioral law and economics. Each chapter concludes with a series of thought-provoking discussion questions that provide readers the opportunity to further explore important ideas and concepts.
 
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Issues in the Economics of Aging
Edited by David A. Wise
University of Chicago Press, 1990
This companion volume to The Economics of Aging (1989) examines the economic consequences of an increasingly older population, focusing on the housing and living arrangements of the elderly, as well as their labor force participation and retirement.
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Issues in the Economics of Immigration
Edited by George J. Borjas
University of Chicago Press, 2000
The United States is now admitting nearly one million legal immigrants per year, while the flow of illegal aliens into the country continues to increase steadily. The debate over immigration policy has typically focused on three fundamental questions: How do immigrants perform economically relative to others? What effects do immigrants have on the employment opportunities of other workers? What kind of immigration policy is most beneficial to the host country? This authoritative volume represents a move beyond purely descriptive assessments of labor market consequences toward a more fully developed analysis of economic impacts across the social spectrum. Exploring the broader repercussions of immigration on education, welfare, Social Security, and crime, as well as the labor market, these papers assess dimensions not yet taken into account by traditional cost-benefit calculations.

This collection offers new insights into the kinds of economic opportunities and outcomes that immigrant populations might expect for themselves and future generations.
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Ivy and Industry
Business and the Making of the American University, 1880-1980
Christopher Newfield
Duke University Press, 2003
Emphasizing how profoundly the American research university has been shaped by business and the humanities alike, Ivy and Industry is a vital contribution to debates about the corporatization of higher education in the United States. Christopher Newfield traces major trends in the intellectual and institutional history of the research university from 1880 to 1980. He pays particular attention to the connections between the changing forms and demands of American business and the cultivation of a university-trained middle class. He contends that by imbuing its staff and students with seemingly opposed ideas—of self-development on the one hand and of an economic system existing prior to and inviolate of their own activity on the other—the university has created a deeply conflicted middle class.

Newfield views management as neither inherently good nor bad, but rather as a challenge to and tool for negotiating modern life. In Ivy and Industry he integrates business and managerial philosophies from Taylorism through Tom Peters’s “culture of excellence” with the speeches and writings of leading university administrators and federal and state education and science policies. He discusses the financial dependence on industry and government that was established in the university’s early years and the equal influence of liberal arts traditions on faculty and administrators. He describes the arrival of a managerial ethos on campus well before World War II, showing how managerial strategies shaped even fields seemingly isolated from commerce, like literary studies. Demonstrating that business and the humanities have each had a far stronger impact on higher education in the United States than is commonly thought, Ivy and Industry is the dramatic story of how universities have approached their dual mission of expanding the mind of the individual while stimulating economic growth.

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