front cover of Taking Trade to the Streets
Taking Trade to the Streets
The Lost History of Public Efforts to Shape Globalization
Susan Ariel Aaronson
University of Michigan Press, 2002
In the wake of civil protest in Seattle during the 1999 World Trade Organization meeting, many issues raised by globalization and increasingly free trade have been in the forefront of the news. But these issues are not necessarily new. Taking Trade to the Streets describes how so many individuals and nongovernmental organizations came over time to see trade agreements as threatening national systems of social and environmental regulations. Using the United States as a case study, Susan Ariel Aaronson examines the history of trade agreement critics, focusing particular attention on NAFTA (the North American Free Trade Agreement between Canada, Mexico, and the United States) and the Tokyo and Uruguay Rounds of trade liberalization under the GATT. She also considers the question of whether such trade agreement critics are truly protectionist.
The book explores how trade agreement critics built a fluid global movement to redefine the terms of trade agreements (the international system of rules governing trade) and to redefine how citizens talk about trade. (The "terms of trade" is a relationship between the prices of exports and of imports.) That movement, which has been growing since the 1980s, transcends borders as well as longstanding views about the role of government in the economy. While many trade agreement critics on the left say they want government policies to make markets more equitable, they find themselves allied with activists on the right who want to reduce the role of government in the economy.
Aaronson highlights three hot-button social issues--food safety, the environment, and labor standards--to illustrate how conflicts arise between trade and other types of regulation. And finally she calls for a careful evaluation of the terms of trade from which an honest debate over regulating the global economy might emerge.
Ultimately, this book links the history of trade policy to the history of social regulation. It is a social, political, and economic history that will be of interest to policymakers and students of history, economics, political science, government, trade, sociology, and international affairs.
Susan Ariel Aaronson is Senior Fellow at the National Policy Institute and occasional commentator on National Public Radio's "Morning Edition."
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Taking Your Medicine
Drug Regulation in the United States
Peter Temin
Harvard University Press, 1980

In a timely book about contemporary life, Peter Temin describes the way in which the government has taken control over the safety and use of medicinal drugs. From the turn of the century to the present, the Food and Drug Administration increasingly has controlled the use of non-narcotic drugs both by direct regulation and by delegating the growth of federal authority to doctors. This vivid history chronicles how the growth of federal control has expanded from verifying ingredients to guaranteeing their safety and then to ensuring efficacy. The effects of the long tradition of control can be seen in the pattern of drug regulation and in the structure of the drug industry today.

More than a narrative of drug regulation, Temin’s book analyzes how doctors, lay people as consumers and patients, and government act and react in situations requiring medicines. Temin reveals that uncertainty and imperfect knowledge about the comparative effects of taking different drugs pervades such situations, and that the way people choose drugs is affected by this uncertainty. Unable to obtain feedback about the competing merits of alternative therapies in many cases, doctors and consumers rely on medical customs in making their choices. Customs are functional in the sense that they are validated by experience, but they lack the ability of instrumental behavior (in which people alter actions in response to outcomes) to adapt smoothly to changing information.

In this context, the FDA has enlarged the scope of its authority throughout the twentieth century and made increasingly detailed decisions on behalf of us all. The agency has diminished consumer control over drug use even though doctors prescribe drugs largely by customary means and consumer ignorance is in part a consequence of the agency’s own regulations. In a careful and learned book, Temin suggests how changes and revisions in laws and regulations could redress the balance of responsibility toward doctor and patient.

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Targeting Investments in Children
Fighting Poverty When Resources Are Limited
Edited by Phillip B. Levine and David J. Zimmerman
University of Chicago Press, 2010

A substantial number of American children experience poverty: about 17 percent of those under the age of eighteen meet the government’s definition, and the proportion is even greater within minority groups. Childhood poverty can have lifelong effects, resulting in poor educational, labor market, and physical and mental health outcomes for adults. These problems have long been recognized, and there are numerous programs designed to alleviate or even eliminate poverty; as these programs compete for scarce resources, it is important to develop a clear view of their impact as tools for poverty alleviation.

Targeting Investments in Children
tackles the problem of evaluating these programs by examining them using a common metric: their impact on earnings in adulthood. The volume’s contributors explore a variety of issues, such as the effect of interventions targeted at children of different ages, and study a range of programs, including child care, after-school care, and drug prevention. The results will be invaluable to educational leaders and researchers as well as policy makers.

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Tax Haven Ireland
Brian O’ Boyle
Pluto Press, 2021
This is the story of how a small island on the edge of Europe became one of the world’s major tax havens. From global corporations such as Apple and Google, to investment bankers and mainstream politicians, those taking advantage of Ireland’s pro-business tax laws and shadow banking system have amassed untold riches at enormous social cost to ordinary people at home and abroad.

Tax Haven Ireland uncovers the central players in this process and exposes the coverups employed by the Irish state, with the help of accountants, lawyers, and financial services companies. From the lucrative internet porn industry to corruption in the property market, this issue distorts the economy across the state and in the wider international system, and its history runs deep, going back the country’s origins as a British colonial outpost.

Today, in the wake of Brexit and in the shadow of yet another economic crash, what can be done to prevent such dangerous behaviour and reorganize our economies to invest in the people? Can Ireland – and all of us – build an alternative economy based on fairness and democratic values?
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Tax Policy and the Economy, Volume 24
Edited by Jefferey R. Brown
University of Chicago Press Journals, 2010

Tax Policy and the Economy publishes current academic research findings on taxation and government spending that have both immediate bearing on policy debates and longer-term interest. The papers in this volume range from topics as broad as the relative efficacy of tax cuts versus spending increases as a form of economic stimulus to a targeted analysis of the Low Income Housing Tax Credit. Also included are two papers at that examine different aspects of policies designed to provide fiscal stimulus, as well as an examination of the effects of recent reforms in the Earned Income Tax Credit.

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Tax Policy and the Economy, Volume 25
Edited by Jeffrey R. Brown
University of Chicago Press Journals, 2011
In light of the very public debate on the federal budget this year between Democrats and Republicans, the economic ramifications of tax policy are now more than ever a focus of national attention. Tax Policy and the Economy, Volume 25 is thus an invaluable tool, publishing current academic research findings on taxation and government spending, which informs important policy debates with rigorous economic analysis. The papers in Volume 25 include a review of current fuel economy taxation; research on implicit taxes on work from Social Security and Medicare; an analysis on how future increases in aggregate health care expenditures will impact future tax rates required to support Medicare and Medicaid; and two papers that analyze the implications of large and sustained budget deficits on the economy.
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Tax Policy and the Economy, Volume 26
Edited by Jeffrey R. Brown
University of Chicago Press Journals, 2012
There is no question that the US is facing significant fiscal challenges. Tax Policy and the Economy research papers make valuable contributions to our understanding of the economic effects of alternative approaches. The papers collected in Volume 26 include a study of an important determinant of the labor supply effects of Social Security; an examination of the budgetary and economic impact of changing how employer health insurance is treated in the tax code; an analysis of how US investment in Europe might be impacted by proposed corporate tax reform in the European Union; a look at the term “tax expenditures,” often used to describe governmental policies that show as reduction in taxes rather than as an increase in spending. The final paper in the volume shows how uncertainty about the restoration of US fiscal balance imposes additional efficiency costs on the economy in consumption, saving, labor supply and portfolio decisions, and how it reduces individual welfare.
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front cover of Tax Policy and the Economy, Volume 27
Tax Policy and the Economy, Volume 27
Edited by Jeffrey R. Brown
University of Chicago Press Journals, 2013
Taxation policy was a central part of the policy debates over the “fiscal cliff.” Given the importance of fiscal issues, it is vital for rigorous empirical research to inform the policy dialogue.  In keeping with the NBER’s tradition of carrying out rigorous but policy-relevant research, Volume 27 of Tax Policy and the Economy offers insights on a number of key tax policy questions.  This year's volume features six papers by leading scholars who examine the tax treatment of tuition at private K-12 schools, the potential streamlining of the federal rules for post-secondary financial aid and the use of tax return information in this process, the effect of tax and benefit programs on incentives to work, the macroeconomic effects of fiscal adjustments, and the set of factors that contributed to the weakening US fiscal outlook in the last decade.
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Tax Policy and the Economy, Volume 28
Edited by Jeffrey R. Brown
University of Chicago Press Journals, 2014
The papers in Volume 28 of Tax Policy and the Economy illustrate the depth and breadth of the research by NBER research associates who study taxation and government spending programs.  The first paper explores whether closely held firms are used as tax shelters. The second examines the taxation of multinational corporations. The third discusses the taxation of housing, focusing on the ways in which current income tax rules may affect location and consumption decisions and lead to economic inefficiencies. The fourth paper offers an historical perspective on the political economy of gasoline taxes, with a particular focus on the response to the oil shocks of the early 1970s. The fifth and final paper uses the tools of financial economics to estimate the unfunded liabilities of the Pension Benefit Guaranty Corporation.
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front cover of Tax Policy and the Economy, Volume 29
Tax Policy and the Economy, Volume 29
Edited by Jeffrey R. Brown
University of Chicago Press Journals, 2016
The papers in Volume 29 of Tax Policy and the Economy illustrate the depth and breadth of the taxation-related research by NBER research associates, both in terms of methodological approach and in terms of topics.  In the first paper, former NBER President Martin Feldstein estimates how much revenue the federal government could raise by limiting tax expenditures in various ways, such as capping deductions and exclusions. The second paper, by George Bulman and Caroline Hoxby, makes use of a substantial expansion in the availability of education tax credits in 2009 to study whether tax credits have a significant causal effect on college attendance and related outcomes. In the third paper, Casey Mulligan discusses how the Affordable Care Act (ACA) introduces or expands taxes on income and on full-time employment. In the fourth paper, Bradley Heim, Ithai Lurie, and Kosali Simon focus on the “young adult” provision of the ACA that allows young adults to be covered by their parents’ insurance policies. They find no meaningful effects of this provision on labor market outcomes.  The fifth paper, by Louis Kaplow, identifies some of the key conceptual challenges to analyzing social insurance policies, such as Social Security, in a context where shortsighted individuals fail to save adequately for their retirement. 
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front cover of Tax Policy and the Economy, Volume 30
Tax Policy and the Economy, Volume 30
Edited by Jeffrey R. Brown
University of Chicago Press Journals, 2016
The research papers in Volume 30 of Tax Policy and the Economy make significant contributions to the academic literature in public finance and provide important conceptual and empirical input to policy design. In the first paper, Gerald Carlino and Robert Inman consider whether state-level fiscal policies create spillovers for neighboring states and how federal stimulus can internalize these externalities. The second paper, by Nathan Hendren, presents a new framework for evaluating the welfare consequences of tax policy changes and explains how the key parameters needed to implement this framework can be estimated. The third paper, a collaborative effort by several academic and US Treasury economists, documents the dramatic increase in pass-through businesses, including partnerships and S-corporations, over the last thirty years.  It notes that these entities now generate more than half of all US business income. The fourth paper examines property tax compliance using a pseudo-randomized experiment in Philadelphia, in which those who owed taxes received supplemental letters regarding their tax delinquency. The research explores what types of communication lead to higher rates of tax payment. In the fifth paper, Jeffrey Clemens discusses cross-program budgetary spillovers of minimum wage regulations. Severin Borenstein and Lucas Davis, the authors of the sixth paper, study the distributional effects of income tax credits for clean energy.
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front cover of Tax Policy and the Economy, Volume 31
Tax Policy and the Economy, Volume 31
Edited by Robert A. Moffitt
University of Chicago Press Journals, 2017
The papers in Tax Policy and the Economy Volume 31 are all directly related to important and often long-standing issues, often including how transfer programs affect tax rates and behavior. In the first paper, Alan Auerbach, Laurence Kotlikoff, Darryl Koehler, and Manni Yu take a lifetime perspective on the marginal tax rates facing older individuals and families arising from a comprehensive set of sources. In the second, Gizem Kosar and Robert A. Moffitt provide new estimates of the cumulative marginal tax rates facing low-income families over the period 1997-2007. In the third paper, Emmanuel Saez presents evidence on the elasticity of taxable income with respect to tax rates, drawing on data from the 2013 federal income tax reform.  In the fourth, Conor Clarke and Wojciech Kopczuk survey the treatment of business income taxation in the United States since the 1950s, providing new data on how business income and its taxation have evolved over time.  In the fifth paper, Louis Kaplow argues that the reduction in statutory tax rates from base-broadening may not reduce effective marginal tax rates on households. 
 
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Tax Policy and the Economy
Volume 32
Edited by Robert A. Moffitt
University of Chicago Press Journals, 2018
The six research studies in Volume 32 of Tax Policy and the Economy analyze the U.S. tax and transfer system, in particular its effects on revenues, expenditures, and economic behavior. First, James Andreoni examines donor advised funds, which are financial vehicles offered by investment houses to provide savings accounts for tax-free charitable giving, and weighs their effects on donations against their tax cost. Second, Caroline Hoxby analyzes the use of tax credits by students enrolled in online post-secondary education. Third, Alex Rees-Jones and Dmitry Taubinsky explore taxpayers’ psychological biases that lead to incorrect perceptions and understanding of tax incentives. Fourth, Jeffrey Clemens and Benedic Ippolito investigate the implications of block grant reforms of Medicaid for receipt of federal support by different states. Fifth, Andrew Samwick examines means-testing of Medicare and federal health benefits under the Affordable Care Act. Sixth, Bruce Meyer and Wallace Mok study the incidence and effects of disability among U.S. women from 1968 to 2015, examining the impacts of disability on income, consumption, and public transfers.
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front cover of Tax Policy and the Economy, Volume 33
Tax Policy and the Economy, Volume 33
Edited by Robert A. Moffitt
University of Chicago Press Journals, 2019
This volume presents five new studies on taxation and government transfer programs.  Alexander Blocker, Laurence Kotlikoff, Stephen Ross, and Sergio Villar Vallenas show how asset pricing can be used to value implicit fiscal debts, which are currently rarely measured or adjusted for risk, while accounting for risk properties.  They apply their methodology to study Social Security.  Michelle Hanson, Jeffrey Hoopes, and Joel Slemrod examine the effects of the Tax Cuts and Jobs Act on corporation behavior and on firms’ statements about their behavior.  They focus on for four outcomes: bonuses, investment, share repurchases, and dividends. Scott Baker, Lorenz Kueng, Leslie McGranahan, and Brian Melzer explore whether “unconventional” fiscal policy in the form of pre-announced consumption tax changes can shift durables purchases intertemporally, how it such shifts are affected by consumer credit.  Alan Auerbach discusses “tax equivalences,” disparate sets of policies that have the same economic effects, and also illustrates when these equivalences break down.  Jeffrey Liebman and Daniel Ramsey use data from NBER’s TAXSIM model to investigate the equity implications of a switch from joint to independent taxation that could occur in conjunction with adoption of return-free tax filing.
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front cover of Tax Policy and the Economy, Volume 34
Tax Policy and the Economy, Volume 34
Edited by Robert A. Moffitt
University of Chicago Press Journals, 2020
This volume presents five new studies on current topics in taxation and government spending.  Mark Shepard, Katherine Baicker, and Jonathan Skinner explore implementation aspects of a Medicare-for-All program, which provides a uniform health insurance benefit to everyone, and contrast it with a program providing a basic benefit that can be supplemented voluntarily. John Beshears, James Choi, Mark Iwry, David John, David Laibson, and Brigitte Madrian examine the design and feasibility of firm-sponsored “rainy day funds,” short-term savings accounts for employees that can be used when faced with temporary periods of high expenditure. Robert Barro and Brian Wheaton investigate the impact of taxation on choice of corporate form, on the formation and legal structure of new businesses, and indirectly on productivity in the economy. Jonathan Meer and Benjamin Priday examine the impact of the 2017 federal income tax reform, which reduced marginal tax rates and the incentive for charitable giving, on such giving. Finally, Casey Mulligan analyzes the impact of the Affordable Care Act on whether firms employ fewer than 50 employees, the employment threshold below which they are exempt from the requirement to provide health insurance to their employees.
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front cover of Tax Policy and the Economy, Volume 35
Tax Policy and the Economy, Volume 35
Edited by Robert A. Moffitt
University of Chicago Press Journals, 2021
This volume presents six new studies on current topics in taxation and government spending. The first study looks at the costs of income tax filing, which have risen over time because of the numerous tax forms families have to fill out when filing their taxes and because of increased costs of itemizing deductions, and explores ways to simplify filing and reduce those costs. The second study investigates the design of income tax schedules when there is uncertainty about the way taxation affects household behavior. The third study provides new and comprehensive estimates of the impact of the US Earned Income Tax Credit on the employment of low-income men and women, finding that the large majority of the various expansions of that credit over the last forty years have increased employment of single mothers. The fourth study reviews the structure of business taxation in China and describes a number of tax distortions and potential inefficiencies in the system. The next paper considers how the Affordable Care Act has affected the health insurance and labor market choices of individuals who are between the ages of 60 and 64, and it finds increases in insurance coverage and reductions in employment for some groups. The last study considers how reimbursement rates for health care providers under various government insurance programs affect providers’ willingness to take on new patients and expand their patient capacity.
 
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front cover of Tax Policy and the Economy, Volume 36
Tax Policy and the Economy, Volume 36
Edited by Robert A. Moffitt
University of Chicago Press Journals, 2022
This volume presents five new studies on current topics in taxation and government spending.  
Natasha Sarin, Lawrence Summers, Owen Zidar, and Eric Zwick study how investors respond to taxes on capital gains, whether their incentives to invest are affected by those taxes, and whether that responsiveness has changed over time. Ethan Rouen, Suresh Nallareddy, and Juan Carlos Suárez Serrato revisit the question of whether cuts to corporate taxes increase income inequality, bringing new data and new statistical techniques to generate fresh findings. Alan Auerbach and William Gale investigate whether the advantages and disadvantages of different types of taxation are affected when interest rates stay low for long periods, as has been the case in the U.S. for many years. Nora Gordon and Sarah Reber study the distributional impact of emergency subsidies to schools made by the federal government during the recent COVID pandemic and whether those subsidies were sufficient to cover the increased school costs induced by the pandemic. Jacob Goldin, Elaine Maag, and Katherine Michelmore investigate the fiscal cost of an expansion of the U.S. child tax credit, which has been discussed extensively in policy circles recently. They take into account not only the direct expenditure on the allowance but how cost is affected by the existence of work incentives and by possible beneficial effects on childrens’ adult earnings.
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Taxation and Development
Lessons from Colombian Experience
Richard M. Bird
Harvard University Press, 1970
Although developing countries have a continuing concern with fiscal problems, studies in development finance take little account of the results of the intensive theoretical and empirical work on economic development done during the 1950s and 1960s, and development economists tend to view the financial side of the development process as secondary. In this study of the structure, role, and effects of taxation in the economic development of Colombia, Richard M. Bird bridges the gap between fiscal experts and development economists. He appraises all aspects of national and local tax systems and proposes that taxation be used as an instrument of development policy.
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The Taxation of Capital Income
Alan J. Auerbach
Harvard University Press, 1983

This important contribution to tax analysis presents seven related theoretical essays that examine the effects of capital income taxation on the behavior of firms. It is divided into three sections, focusing on optimal tax design, firm financial policy, and inflation. Taken together, the essays demonstrate the powerful role taxes play in shaping the behavior of American corporations, and also provide insights into the difficult task of tax reform.

Alan Auerbach’s results suggest policies the government might adopt to promote the optimal accumulation of capital. He examines the implications for capital taxation of discrepancies between nominal depreciation rates and real economic depreciation, and suggests appropriate rules of thumb for determining when capital taxation is neutral among alternative investment projects. He also makes important contributions to the debate over the integration of corporate and personal taxes on capital income and to the behavioral puzzle of why corporations pay dividends to their shareholders.

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Taxing Agricultural Land in Developing Countries
Richard M. Bird
Harvard University Press, 1974
Agriculture is the largest economic sector in most countries of Latin American, Africa, and Asia, and the taxation of agricultural land is a potentially important instrument in the development policies of such nations. But there is a large gap between theory and practice, a gap that needs explaining. In addition, there have been interesting changes in thought on the role of such taxation in development. Richard M. Bird covers all this in a complete rethinking of the whole subject. His book is a distinguished successor to Haskell P. Wald’s classic study, Taxation of Agricultural Land in Underdeveloped Economics, published by Harvard University Press in 1959. With abundant evidence Bird argues that the tax system of each country, in order to be effective as a part of development policy, must be tailored carefully to peculiar circumstances and objectives of that country.
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Technocapitalism
A Critical Perspective on Technological Innovation and Corporatism
Luis Suarez-Villa
Temple University Press, 2012
A new version of capitalism, grounded in technology and science, is spawning new forms of corporate power and organization that will have major implications for the twenty-first century. Technological creativity is thereby turned into a commodity in new corporate regimes that are primarily oriented toward research and intellectual appropriation. This phenomenon is likely to have major social, economic, and political consequences, as the new corporatism becomes ever more intrusive and rapacious through its control over technology and innovation.

In his provocative book Technocapitalism, Luis Suarez-Villa addresses this phenomenon from the perspective of radical political economy and social criticism. Grounded in the premise that relations of power influence how human creativity and technology are exploited by the new corporatism, the author argues that new forms of democratic participation and resistance are needed, if the social pathologies created by this new version of capitalism are to be checked.

Considering the new sectors affected by technocapitalism, such as biotechnology, nanotechnology, bioinformatics, and genomics, Suarez-Villa deciphers the common threads of power and organization that drive their corporatization. These new sectors, and the corporate apparatus set up to extract profit and power through them, are imposing standards, creating business models, molding social governance, and influencing social relations at all levels. The new reality they create is likely to affect most every aspect of human existence, including work, health, life, and nature itself.
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Technological Change and Management
David W. Ewing
Harvard University Press, 1970
Six leaders of American industry and government analyze the social and economic implications of scientific and technological change. Donald Cook discusses “Technology—Mainspring of History”; Eli Goldston, “The Limits of Technology”; Joseph C. Wilson, “The New Entrepreneur”; Charles E. Thornton, “The Role of Modern Business”; E. G. Woodroofe, “Technology and Business Opportunity for the International Business”; and James E. Webb, “NASA as an Adaptive Organization.”
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Technology and Investment
The Prewar Japanese Chemical Industry
Barbara Molony
Harvard University Press

The chemical industry was Japan's first "high-tech" industry, and its companies the most important examples of a noteworthy business structure in the prewar period, the so-called "new zaibatsu."

Molony deals with one branch of the chemical industry--electrochemicals--with shorter descriptions of related branches. At the hear of the book is the story of Noguchi Jun, founder of Japan Nitrogenous Fertilizers (Nippon Chisso Hiryō) and one of Japan's best known twentieth-century entrepreneurs. Noguchi's firm developed from a fertilizer company to a multifaceted company producing a wide range of technologically sophisticated products while he forged ties with civilian and military leaders in Japan and Korea who controlled access to capital and to the hydroelectricity needed for chemical manufacture. The book also treats the second and third waves of investment and electrochemicals during the 1920s and 1930s.

This study analyzes the nature of prewar Japanese entrepreneurship, the links between technology and investment, the emergence of a class of scientific managers, and the relationship of business strategy to imperialism in the years leading up to World War II.

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Technology in American Health Care
Policy Directions for Effective Evaluation and Management
Alan B. Cohen and Ruth S. Hanft, with William E. Encinosa, Stephanie M. Spernak, Shirley A. Stewart, and Catherine C. White
University of Michigan Press, 2004
"The definitive overview of health technology assessment in the U.S. and Europe, the biotech industry, adoption and use of medtech in health care."
---The World Future Society, Best Books and Reports

"This excellent book provides a broad overview of the development, impact, and evaluation of health technology in the United States. . . .The authors take a well-organized and thorough approach to address these topics, combining reviews of each with case examples of particular technologies. . . .Given the broad scope of the book, it could serve as a text for students, an introduction to the field for healthcare professionals, or a tool for academics and policymakers wishing to fill knowledge gaps outside their disciplines. . . .The book makes a compelling case for the logic and potential benefits of medical technology evaluation as a tool for improving health care."
---Journal of the American Medical Association

"By being comprehensive in their review, the authors chart a clear path to understanding the future of health care technology in America. They clarify the technical methods for evaluation and provide insight into the sociopolitical aspects of development and diffusion. Case studies are informative. Excellent reading for students and health professionals either as a textbook or as an off-the-shelf guide to methods for deciding among alternative technologies."
---Norman W. Weissman, University of Alabama

"Technology today dominates every aspect of health care. This useful book offers a diverse range of perspectives for students, professors, and medical practitioners who wish to understand how to evaluate medical technology."
---Joel Howell, University of Michigan Medical School

Technology in American Health Care is a comprehensive, multidisciplinary guide to understanding how medical advances-new drugs, biological devices, and surgical procedures-are developed, brought to market, evaluated, and adopted into health care.

Cost-effective delivery of evidence-based health care is the sine qua non of American medicine in the twenty-first century. Health care decision makers, providers, payers, policymakers, and consumers all need vital information about the risks, benefits, and costs of new technologies in order to make informed decisions about which ones to adopt and how to use them. Alan B. Cohen and Ruth S. Hanft explore the evolving field of medical technology evaluation (MTE), as well as the current controversies surrounding the evaluation and diffusion of medical technologies, including the methods employed in their assessment and the policies that govern their adoption and use.

The book opens with an introduction that provides basic definitions and the history of technological change in American medicine, and a second chapter that explores critical questions regarding medical technology in health care. Part I discusses biomedical innovation, the development and diffusion of medical technology, and the adoption and use of technology by hospitals, physicians, and other health care organizations and professions under changing health care market conditions. Part II examines the methods of MTE-including randomized controlled trials, meta-analyses, economic evaluation methods (such as cost-benefit, cost-effectiveness, and cost-utility analyses), and clinical decision analysis. Part III focuses on key public policy issues and concerns that affect the organization, financing, and delivery of health care and that relate importantly to medical technology, including safety, efficacy, quality, cost, access, equity, social, ethical, legal, and evaluation concerns. All three parts of the book provide a historical perspective on the relevant issues, methods, and policy concerns and contain examples of technologies whose development, adoption, evaluation, and use have contributed to our understanding of the field.

This book will be invaluable in making MTE more accessible to individuals who are directly involved in the evaluation process and those who are touched by it in their professional lives-policymakers, clinicians, managers, and researchers.

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Technology, Institutions, and Economic Growth
Richard R. Nelson
Harvard University Press, 2005
This volume mounts a full-blown attack on the standard neo-classical theory of economic growth, which Richard Nelson sees as hopelessly inadequate to explain the phenomenon of economic growth. He presents an alternative theory which highlights that economic growth driven by technological advance involves disequilibrium in a fundamental and continuing way. Nelson also argues that a theory of economic growth driven by technological advance must recognize a range of institutions, such as universities, public laboratories, and government agencies, in addition to business firms and markets. He further argues that growth theories that focus on an aggregate measure of growth, such as GNP per capita, are blind to what is going on beneath the aggregate, where differing rates of advance in different sectors, and the birth and death of industries are an essential part of the growth process. The broad theory of economic growth Nelson presents sees the process as involving the co-evolution of technologies, institutions, and industry structure.
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Telecommunication Policy for the Information Age
From Monopoly to Competition
Gerald W. Brock
Harvard University Press, 1994
Gerald Brock develops a new theory of decentralized public decisionmaking and uses it to clarify the dramatic changes that have transformed the telecommunication industry from a heavily regulated monopoly to a set of market-oriented firms. He demonstrates how the decentralized decisionmaking process--whose apparent element of chaos has so often invited criticism--has actually made the United States a world leader in reforming telecommunication policy.
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The Telecommunications Industry
The Dynamics of Market Structure
Gerald W. Brock
Harvard University Press, 1981

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A Telescope on Society
Survey Research and Social Science at the University of Michigan and Beyond
James S. House, F. Thomas Juster, Robert L. Kahn, Howard Schuman, and Eleanor Singer, Editors
University of Michigan Press, 2004
A Telescope on Society seeks to convey the development of social science in the twentieth century through its interaction with a major new instrument for gathering data about society-survey research. The story of survey research and social science is largely told by social scientists affiliated with the Survey Research Center (SRC) and Institute for Social Research (IRS) at the University of Michigan about work done there. But the book also places this story in the broader context of survey-based social science in the United States and the world, to which many individuals and institutions beyond SRC, ISR, and Michigan have also contributed.

The chapters of this volume illustrate the impact that developments in survey research have had and continue to have on a broad range of social science disciplines and interdisciplinary areas ranging from political behavior and electoral systems to macroeconomics and individual income dynamics, mental and physical health, human development and aging, and racial/ethnic diversity and relationships.

The volume will speak to a wide audience of social science and survey research professionals and students interested in learning more about the broad history of survey-based social science and its contributions to understanding ourselves as social beings. It also seeks to convey how crucial institutional and public support are to the development of social science and survey research, as they have been to development in the natural, biomedical, and life sciences.

The five editors of this book are longtime research professors and colleagues in the Survey Research Center of the Institute for Social Research at the University of Michigan. James S. House is also Professor in the Department of Sociology; F. Thomas Juster is Professor Emeritus in the Department of Economics; Robert L. Kahn is Professor Emeritus in the Department of Psychology and Department of Health Management and Policy; and Howard Schuman is Professor Emeritus in the Department of Sociology; Eleanor Singer is Research Professor in the Survey Research Center, all at the University of Michigan. Professors House (1991-2001), Kahn (1970-76), and Schuman (1982-90) have each served as Director of the Survey Research Center; Professor Juster served (1976-86) as Director of the Institute for Social Research; and Professor Singer served (1999-2002) as Associate Director of the Survey Research Center.



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Testing Macroeconometric Models
Ray Fair
Harvard University Press, 1994

In this book Ray Fair expounds powerful techniques for estimating and analyzing macroeconometric models. He takes advantage of the remarkable decrease in computational costs that has occurred since the early 1980s by implementing such sophisticated techniques as stochastic simulation. Testing Macroeconometric Models also incorporates the assumption of rational expectations in the estimation, solution, and testing of the models. And it presents the latest versions of Fair's models of the economies of the United States and other countries.

After estimating and testing the U.S. model, Fair analyzes its properties, including those relevant to economic policymakers: the optimal monetary policy instrument, the effect of a government spending reduction on the government deficit, whether monetary policy is becoming less effective over time, and the sensitivity of policy effects to the assumption of rational expectations.

Ray Fair has conducted research on structural macroeconometric models for more than twenty years. With interest increasing in the area, this book will be an essential reference for macroeconomists.

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Themes in the Economics of Aging
Edited by David A. Wise
University of Chicago Press, 2001
In the past few years, the economic ramifications of aging have garnered close attention from a group of NBER researchers led by David A. Wise. In this volume, Wise and his collaborators continue to analyze a nexus of age-related issues.

This volume begins by looking at the implications of private and public personal retirement plans, focusing in particular on the impact of 401(k) programs on retirement strategies in light of potential social security reform and factors such as annuitization and on asset accumulation. Next, the often-observed relationship between health and wealth is dissected from two different perspectives and correlated with striking increases in health-care spending over the past two decades, despite the improved health of older populations. The volume concludes with an investigation of the retirement effects of various social security provisions in both U.S. and German systems.

This carefully developed collection expands the current investigative focus and broadens the dialogue on a rapidly growing area of social and economic concern.

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Theories of Distributive Justice
John E. Roemer
Harvard University Press, 1996

Equally at home in economic theory and political philosophy, John Roemer has written a unique book that critiques economists’ conceptions of justice from a philosophical perspective and philosophical theories of distributive justice from an economic one. He unites the economist’s skill in constructing precise, axiomatic models with the philosopher’s in exploring the assumptions of those models. His synthesis will enable philosophers and economists to engage each other’s ideas more fruitfully.

Roemer first shows how economists’ understanding of the fairness of various resource allocation mechanisms can be enriched. He extends the economic theory of social choice to show how individual preferences can be aggregated into social preferences over various alternatives. He critiques the standard applications of axiomatic bargaining theory to distributive justice, showing that they ignore information on available resources and preference orderings. He puts these variables in the models, which enable him to generate resource allocation mechanisms that are more consonant with our intuitions about distributive justice. He then critiques economists’ theories of utilitarianism and examines the question of the optimal population size in a world of finite resources.

Roemer explores the major new philosophical concepts of the theory of distributive justice—primary goods, functionings and capability, responsibility in its various forms, procedural versus outcome justice, midfare—and shows how they can be sharpened and clarified with the aid of economic analysis. He critiques and extends the ideas of major contemporary theories of distributive justice, including those of Rawls, Sen, Nozick, and Dworkin. Beginning from the recent theories of Arneson and G. A. Cohen, he constructs a theory of equality of opportunity. Theories of Distributive Justice contains important and original results, and it can also be used as a graduate-level text in economics and philosophy.

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The Theory of Economic Development
An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle
Joseph A. Schumpeter
Harvard University Press
This is a translation from the second German edition of a book which first appeared in 1911 and has since that time been translated into Italian and French and is about to appear in Japanese. Fundamentally it is an attempt at framing a purely theoretical description of the nature and mechanism of economic change or evolution, its motive power, and the phenomena incident to it. Although the book aroused much controversy when first published, the general view and some of the individual theorems have been gaining ground and have exerted considerable influence on contemporary work in Europe and in America.
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The Theory of Linear Economic Models
David Gale
University of Chicago Press, 1989
In the past few decades, methods of linear algebra have become central to economic analysis, replacing older tools such as the calculus. David Gale has provided the first complete and lucid treatment of important topics in mathematical economics which can be analyzed by linear models. This self-contained work requires few mathematical prerequisites and provides all necessary groundwork in the first few chapters. After introducing basic geometric concepts of vectors and vector spaces, Gale proceeds to give the main theorems on linear inequalities—theorems underpinning the theory of games, linear programming, and the Neumann model of growth. He then explores such subjects as linear programming; the theory of two-person games; static and dynamic theories of linear exchange models, including problems of equilibrium prices and dynamic stability; and methods of play, optimal strategies, and solutions of matrix games. This book should prove an invaluable reference source and text for mathematicians, engineers, economists, and those in many related areas.
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Theory of Markets
Tun Thin
Harvard University Press

Concerned primarily with oligopoly, this work includes a general study of pricing in three different markets—perfect competition, perfect monopoly, and imperfect competition. The solutions of these markets offered by Cournot, Smithies, Chamberlin, Stackelberg, Fellner, and Robinson are presented mathematically, followed by the author’s own version of the theory of rational pricing in oligopoly.

Previous authors have not allowed for all the variables arising from profit and price situations in the market. Here, more realistic assumptions and more complex analyses indicate that sellers in oligopoly situations do not always need to arrange specific agreements—hence, that “administered” pricing does not inevitably occur when the market is dominated by a few producers.

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The Theory of Monopolistic Competition
A Re-orientation of the Theory of Value, Eighth Edition
Edward Hastings Chamberlain
Harvard University Press

Chamberlain's classic work, now in its eighth edition, continues to influence the fundamental thinking of economists and businessmen, and for the best of reasons: It is a basic treatise in theory which, unlike traditional theories of “perfect competition,” deals with the economic world we live in, including both price and nonprice competition, oligopoly, various degrees of monopoly, “differentiated” products, advertising, etc. Its influence has spread extensively as well as intensively—to new theoretical problems, such as economic dynamics and development, and to the analysis of an increasingly wide range of the so-called “applied” fields.

In this eighth edition of The Theory of Monopolistic Competition Professor Chamberlain has added three new appendices: The Definition of Selling Costs; Numbers and Elasticities; and The Origin and Early Development of Monopolistic Competition Theory. The index has been extensively revised and expanded. In successive earlier editions the author compiled a bibliography of 1497 items. He also added a new treatment of the cost curve of the firm, discussing in particular some current misconceptions as to the role of the laws of proportions and of the divisibility of factors in relation to economics and diseconomies of scale, and advancing a broader theory which assigns to both proportions and scale their proper roles.

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The Theory of Peasant Economy
A. V. Chayanov
University of Wisconsin Press, 1986

The work of A. V. Chayanov is today drawing more attention among Western scholars than ever before. Largely ignored in his native Russia because they differed from Marxist-Leninist theory, and neglected in the West for more than forty years, Chayanov’s sophisticated theories were at last published in English in 1966. That trenchant is reprinted in this Wisconsin paperback edition, which includes a new introduction by the sociologist Teodor Shanin, of the University of Manchester, one of the world’s leading Chayanov scholars. The Wisconsin edition will be essential reading for political scientists, anthropologists, and all whose interests include peasant studies, Third World development, and women’s studies.

"The past two decades have seen the emergence of a whole new field called 'peasant studies' and, along with those of Karl Marx, Chayanov's ideas have been central to its development. . . . The publishers are to be commended for re-issuing the book with both old and new introductions and making it available as an affordable paperback for students. The work is a classic."—Times Higher Education Supplement

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A Theory of Price Control
With a New Introduction by the Author
John Kenneth Galbraith
Harvard University Press, 1952
Galbraith supplies the underlying economic ideas that will help readers understand how particular controls affect general operation of the economy. He shows why price controls during World War II worked as well as they did and analyzes the criteria for effective price control both under a fully mobilized economy and under limited mobilization.
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The Theory of Public Choice - II
James M. Buchanan and Robert D. Tollison, Editors
University of Michigan Press, 1984

That economics can usefully explain politics is no longer a novel idea, it is a well-established fact brought about by the work of many public choice scholars. This book, which is a sequel to a similar volume published in 1972, brings together a fresh collection of recent work in the public choice tradition. The essays demonstrate the power of the public choice approach in the analysis of government. Among the issues considered are income redistribution, fiscal limitations on government, voting rules and processes, the demand for public goods, the political business cycle, international negotiations, interest groups, and legislators.

James M. Buchanan is University Distinguished Professor and direct, Center for Study of Public Choice at George Mason University.

Robert D. Tollison, formerly director, Bureau of Economics, Federal Trade Commission, is now Abney Professor of Economics at Clemson University.

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The Theory of Trade and Protection
William Penfield Travis
Harvard University Press

How much does a country's commercial policy affect its economic efficiency? How would free trade change the structure of a country’s economy and foreign trade? William Penfield Travis extends the Heckscher-Ohlin trade theory and addresses it to an empirical study of these and related questions. He argues that trade flows fail to reflect relative factor endowments because protection systematically nullifies their effects, and that therefore protection must be incorporated in any positive trade theory.

The author begins by developing a new concept—the equalization region—which he uses to reexamine the assumptions and the logic of the Heckscher-Ohlin theory and of its principal part, the factor-price equalization theorem. This analysis produces a fundamental reinterpretation of Leontief’s scarce-factor paradox, one which justifies Leontief’s work as an empirical test of trade theory under free trade which indicates its necessary modifications under protection. These modifications are then used to show that Leontief in fact measured the effects of American and foreign tariffs and other trade restriction on relative factor prices here and abroad.

To corroborate his theoretical analysis, Travis makes a detailed study of the commercial policies of five main industrial countries; he shows the common structure of protection and its systematic relationship to relative factor endowments. He shows also that protection, by distorting their relative prices, causes considerable substitution of raw materials for labor and capital inputs in manufacturing. The author concludes this important book by indicating some of the new forms which protection is taking throughout the world and by arguing that protection, past and present, is the main force preventing the spread of high living standards to the impoverished areas of the world.

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Things Worth Keeping
The Value of Attachment in a Disposable World
Christine Harold
University of Minnesota Press, 2020

A timely examination of the attachments we form to objects and how they might be used to reduce waste

Rampant consumerism has inundated our planet with pollution and waste. Yet attempts to create environmentally friendly forms of consumption are often co-opted by corporations looking to sell us more stuff. In Things Worth Keeping, Christine Harold investigates the attachments we form to the objects we buy, keep, and discard, and explores how these attachments might be marshaled to create less wasteful practices and balance our consumerist and ecological impulses. 

Although all economies produce waste, no system generates as much or has become so adept at hiding its excesses as today’s mode of global capitalism. This book suggests that managing the material excesses of our lives as consumers requires us to build on, rather than reject, our desire for and attraction to objects. Increasing environmental awareness on its own will be ineffective at reversing ecological devastation, Harold argues, unless it is coupled with a more thorough understanding of how and why we love the things that imbue our lives with pleasure, meaning, and utility. 

From Marie Kondo’s method for decluttering that asks whether the things in our lives “spark joy” to the advent of emotionally durable design, which seeks to reduce consumption and waste by increasing the meaningfulness of the relationship between user and product, Harold explores how consumer psychology and empathetic design can transform our perception of consumer products from disposable to interconnected. An urgent call for rethinking consumerism, Things Worth Keeping shows that by recognizing our responsibility for the things we produce, we can become better stewards of the planet.

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Time and Decision
Economic and Psychological Perspectives of Intertemporal Choice
George Loewenstein
Russell Sage Foundation, 2003
How do people decide whether to sacrifice now for a future reward or to enjoy themselves in the present? Do the future gains of putting money in a pension fund outweigh going to Hawaii for New Year's Eve? Why does a person's self-discipline one day often give way to impulsive behavior the next? Time and Decision takes up these questions with a comprehensive collection of new research on intertemporal choice, examining how people face the problem of deciding over time. Economists approach intertemporal choice by means of a model in which people discount the value of future events at a constant rate. A vacation two years from now is worth less to most people than a vacation next week. Psychologists, on the other hand, have focused on the cognitive and emotional underpinnings of intertemporal choice. Time and Decision draws from both disciplinary approaches to provide a comprehensive picture of the various layers of choice involved. Shane Frederick, George Loewenstein, and Ted O'Donoghue introduce the volume with an overview of the research on time discounting and focus on how people actually discount the future compared to the standard economic model. Alex Kacelnik discusses the crucial role that the ability to delay gratification must have played in evolution. Walter Mischel and colleagues review classic research showing that four year olds who are able to delay gratification subsequently grow up to perform better in college than their counterparts who chose instant gratification. The book also delves into the neurobiology of patience, examining the brain structures involved in the ability to withstand an impulse. Turning to the issue of self-control, Klaus Wertenbroch examines the relationship between consumption and available resources, showing, for example, how a high credit limit can lead people to overspend. Ted O'Donoghue and Matthew Rabin show how people's awareness of their self-control problems affects their decision-making. The final section of the book examines intertemporal choice with regard to health, drug addiction, dieting, marketing, savings, and public policy. All of us make important decisions every day-many of which profoundly affect the quality of our lives. Time and Decision provides a fascinating look at the complex factors involved in how and why we make our choices, so many of them short-sighted, and helps us understand more precisely this crucial human frailty.
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Time, Ignorance, and Uncertainty in Economic Models
Donald W. Katzner
University of Michigan Press, 1998
Emerging from the tradition of Marshall, Knight, Keynes, and Shackle, Time, Ignorance, and Uncertainty in Economic Models is concerned with the character of formal economic analysis when the notions of logical or mechanical time and probabilistic uncertainty and the relatively complete knowledge basis it requires, are replaced, respectively, by historical time, and nonprobabilistic uncertainty and ignorance. Examining that analytical character by constructing and exploring particular models, this book emphasizes doing actual economic analysis in a framework of historical time, nonprobabilistic uncertainty, and ignorance.
Donald W. Katzner begins with an extensive investigation of the distinction between potential surprise and probability. He presents a modified version of Shackle's model of decision-making in ignorance and examines in considerable detail its "comparative statics" and operationality properties. The meaning of aggregation and simultaneity under these conditions is also explored, and Shackle's model is applied to the construction of models of the consumer, the firm, microeconomics, and macroeconomics. Katzner concludes with discussions of the roles of history, hysteresis, and empirical investigation in economic inquiry.
Time, Ignorance, and Uncertainty in Economic Models will be of interest to economists and others engaged in the study of uncertainty, probability, aggregation, and simultaneity. Those interested in the microeconomics of consumer and firm behavior, general equilibrium, and macroeconomics will also benefit from this book.
Donald W. Katzner is Professor of Economics, University of Massachusetts.
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Time in India’s Development Programmes
Robert Repetto
Harvard University Press, 1971
In India the high cost of savings makes the efficient use of investable resources crucial. Robert Repetto's empirical study of selected Indian development programs shows that efficiency in investment depends largely on the effective management of time and on success in accelerating the benefits of investment projects. The author discusses improvements at program and sectoral levels that have been adopted by Indian planners and managers, as well as others that may be within reach. Selected case studies indicate how his general argument applies to the development of infant industries, the choice of techniques, and the conduct of social programs. This statistically documented study has implications for development planning in all labor-abundant economies.
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Titles, Conflict, and Land Use
The Development of Property Rights and Land Reform on the Brazilian Amazon Frontier
Lee J. Alston, Gary D. Libecap, and Bernardo Mueller
University of Michigan Press, 1999
The Amazon, the world's largest rain forest, is the last frontier in Brazil. The settlement of large and small farmers, squatters, miners, and loggers in this frontier during the past thirty years has given rise to violent conflicts over land as well as environmental duress. Titles, Conflict, and Land Use examines the institutional development involved in the process of land use and ownership in the Amazon and shows how this phenomenon affects the behavior of the economic actors. It explores the way in which the absence of well-defined property rights in the Amazon has led to both economic and social problems, including lost investment opportunities, high costs in protecting claims, and violence. The relationship between land reform and violence is given special attention.
The book offers an important application of the New Institutional Economics by examining a rare instance where institutional change can be empirically observed. This allows the authors to study property rights as they emerge and evolve and to analyze the effects of Amazon development on the economy. In doing so they illustrate well the point that often the evolution of economic institutions will not lead to efficient outcomes.
This book will be important not only to economists but also to Latin Americanists, political scientists, anthropologists, and scholars in disciplines concerned with the environment.
Lee Alston is Professor of Economics, University of Illinois, and Research Associate for the National Bureau of Economic Research. Gary Libecap is Professor of Economics and Law, University of Arizona, and Research Associate for the National Bureau of Economic Research. Bernardo Mueller is Assistant Professor, Universidade de Brasilia.
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Topics in the Economics of Aging
Edited by David A. Wise
University of Chicago Press, 1992
The original essays and commentary in this volume—the third in a series reporting the results of the NBER Economics of Aging Program—address issues that are of particular importance to the well-being of individuals as they age and to a society at large that is composed increasingly of older persons. The contributors examine social security reform, including an analysis of the Japanese system; present the startling finding that the vast majority of people choose the wrong accumulation strategies for their pension plans; explore the continuing consequences of the decline in support of parents by children in the postwar period; investigate the relation between nursing home stays and the source of payment for the care; and offer initial findings on the implications of differences between developed and developing countries for understanding aging issues and determining appropriate directions for research.
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The Total Incomes System of Accounts
Robert Eisner
University of Chicago Press, 1989
Conventional measures of national income and product and its components have proved enormously useful as indexes of economic activity and as the empirical foundations of much of macroeconomic analysis. Robert Eisner's The Total Incomes System of Accounts (TISA) brings critical new dimensions to those measures. It offers systematic extensions and expansions in an effort to count all of the output that goes into economic well-being, now and in the future.

Eisner counts nonmarket as well as market production, including vast amounts of services produced by housewives and others in the home, capital formation by government and households as well as business, human and intangible capital invested in education, R&D, and health care, as well as tangible capital. He offers measures of net revaluations of tangible assets, redefines the critical boundaries between final and intermediate outputs, and presents separate sector accounts for business, nonprofit institutions, government, government enterprises and households, which make clear the major contributions of nonbusiness sectors to our total national income.

For these and other extensions, Eisner's TISA offers detailed and comprehensive income and product accounts in current dollars and product accounts in constant dollars for all of the years from 1946 to 1981, along with measures of capital stocks. Estimates of consumption, investment, and production functions with the new data sets, a review of other sets of extended accounts, and a detailed description of sources and methods are also provided.
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Toward a New Iron Age?
Quantitative Modeling of Resource Exhaustion
Robert B. Gordon, Tjalling C. Koopmans, William D. Nordhaus, and Brian J. Skinner
Harvard University Press, 1987

Experts agree that the earth will eventually run out of certain low-cost, nonrenewable resources, possibly as early as a century from now. Will the transition to reliance on other, more abundant resources be smooth or discontinuous? Might industrial societies experience a marked decline in living standards—a radically different kind of society from the one we now know? Geologists maintain that once inexpensive high-grade resources are exhausted, economic growth will slow. Economists are more optimistic: they believe that new technologies and materials will be substituted rapidly enough to prevent minor economic dislocations.

Toward a New Iron Age? takes an important step toward reconciling these divergent views. It is the most comprehensive study of the economic consequences of resource depletion—in particular, it is a thorough exploration of the prospects for one key metal, copper. The authors draw on geological and engineering data to calculate the resources now available and to assess the feasibility of substituting alternatives. Using linear programming and a range of hypothetical base conditions, they are able to estimate the course, through the next century and beyond, of several crucial factors: the rate at which copper resources will be used and when they will be depleted; how the price of the metal will fluctuate; when alternative materials will be substituted, in what patterns, and at what costs. By the late twenty-first century, the authors believe, low-cost copper will no longer be available. Industrial societies will have to operate on more abundant resources such as iron, silica, and aluminum. They will enter, in short, a New Iron Age.

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Toward Industrial Democracy
Management and Workers in Modern Japan
Kunio Odaka
Harvard University Press, 1975
In this study, Kunio Odaka discusses the complex attitudes of Japanese workers toward management, unions, work, and leisure. The results of his scholarly surveys indicate a trend toward the democratization of Japanese industrial management. In part, the book is a presentation of Odaka’s belief in the necessity for greater worker participation in the decisions that affect their working lives, a belief that is indeed radical in the Japanese setting.
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Towards a Cognitive Mode in Global Finance?
The Governance of a Knowledge-Based Financial System
Edited by Torsten Strulik and Helmut Willke
Campus Verlag, 2007
The global finance system has been the subject of hot debate for several years. Major players such as the International Monetary Fund and the World Bank have come under fire for their financial practices, while the role of epistemic authorities, including rating agencies, remains unclear. This book systematically analyzes the role knowledge plays in global finance reform by considering its influence in the empirical areas of finance (banking, accounting, and bond rating, for example). As the contributors demonstrate, current institutional management strategies reflect a shift toward “cognitive,” or learning-based modes of managing financial and political risks—and this cognitive thinking has its own consequences for the global marketplace.
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Trade and Economic Structure
Models and Methods
Richard E. Caves
Harvard University Press
This comprehensive discussion of international trade theories focuses on logically distinct models of international trade rather than on chronology or “schools of thought.” The author gives primary attention to the differences in the empirical implications derivable from the “Heckscher-Ohlin model” and from the simple classical comparative models of international trade. He also emphasizes the recurrence of controversy over matters of aggregation, due to the lack of a common criterion, and the rich variety of model types that result from dynamic theorizing, discrediting the search for an ultimate dynamic international trade model. This book is intended especially for teachers and graduate students who require a broad understanding of basic theories in the field.
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Trade Union Officers
A Study of the Full-Time Officers, Branch Secretaries, and Shop Stewards in British Trade Unions
H. A. Clegg, A. J. Killick, and Rex Adams
Harvard University Press

The problems of trade union officers have attracted considerable attention in recent years. It is often suggested that changes in our educational system have cut off the supply of able candidates for full-time posts, whilst attractive offers from nationalized and private industries have drained away existing talent. Trade Union officers are said to be badly paid and overworked. Meanwhile much of the power of the unions is alleged to have passed to the shop stewards, about whose duties and characteristics relatively little is known.

This study is based upon an investigation into the records of eighteen major unions, upon local surveys, and upon the answers to questionnaires distributed nationally.

The findings of these inquiries establish firm evidence in a number of areas where previously only guesswork was available, and upset a number of popular prejudices about British trade unions. Having set them out, the authors are able to throw new light upon the structure of union bureaucracies, and upon the supply and selection of union officers, their pay and conditions of work, and their education and training.

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Trade-Offs
An Introduction to Economic Reasoning
Harold Winter
University of Chicago Press, 2023

The highly engaging introduction to thinking like an economist, updated for a new generation of readers.

When economists wrestle with any social issue—be it unemployment, inflation, healthcare, or crime and punishment—they do so impersonally. The big question for them is: what are the costs and benefits, or trade-offs, of the solutions to such matters? These trade-offs constitute the core of how economists see the world—and make the policies that govern it.

Trade-Offs is an introduction to the economic approach of analyzing controversial policy issues. A useful introduction to the various factors that inform public opinion and policymaking, Trade-Offs is composed of case studies on topics drawn from across contemporary law and society.

Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone following current social policy debates.

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Trade-Offs
An Introduction to Economic Reasoning
Harold Winter
University of Chicago Press, 2023

This is an auto-narrated audiobook edition of this book.

The highly engaging introduction to thinking like an economist, updated for a new generation of readers.

When economists wrestle with any social issue—be it unemployment, inflation, healthcare, or crime and punishment—they do so impersonally. The big question for them is: what are the costs and benefits, or trade-offs, of the solutions to such matters? These trade-offs constitute the core of how economists see the world—and make the policies that govern it.

Trade-Offs is an introduction to the economic approach of analyzing controversial policy issues. A useful introduction to the various factors that inform public opinion and policymaking, Trade-Offs is composed of case studies on topics drawn from across contemporary law and society.

Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone following current social policy debates.

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Trade-Offs
An Introduction to Economic Reasoning and Social Issues
Harold Winter
University of Chicago Press, 2005
When economists wrestle with issues such as unemployment, inflation, or budget deficits, they do so by incorporating an impersonal, detached mode of reasoning. But economists also analyze issues that, to others, do not typically fall within the realm of economic reasoning, such as organ transplants, cigarette addiction, smoking in public, and product safety. Trade-Offs is an introduction to the economic approach to analyzing these controversial public policy issues.

Harold Winter provides readers with the analytical tools needed to identify and understand the trade-offs associated with these topics. By considering both the costs and benefits of potential policy solutions, Winter stresses that real-world policy decision making is best served by an explicit recognition of as many trade-offs as possible.

Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone who follows current social policy debates.
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Trade-Offs
An Introduction to Economic Reasoning and Social Issues, Second Edition
Harold Winter
University of Chicago Press, 2013
When economists wrestle with issues such as unemployment, inflation, or budget deficits, they do so by incorporating an impersonal, detached mode of reasoning. But economists also analyze issues that, to others, typically do not fall within the realm of economic reasoning, such as organ transplants, cigarette addiction, overeating, and product safety. Trade-Offs is an introduction to the economic approach to analyzing these controversial public policy issues.
 
Harold Winter provides readers with the analytical tools needed to identify and understand the trade-offs associated with these topics. By considering both the costs and benefits of potential policy solutions, Winter stresses that real-world decision making is best served by an explicit recognition of as many trade-offs as possible. This new edition incorporates recent developments in policy debates, including the rise of “new paternalism,” or policies designed to protect people from themselves; alternative ways to increase the supply of organs available for transplant; and economic approaches to controlling infectious disease.
 
Intellectually stimulating yet accessible and entertaining, Trade-Offs will be appreciated by students of economics, public policy, health administration, political science, and law, as well as by anyone who follows current social policy debates.
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Trading Up
Consumer and Environmental Regulation in a Global Economy
David Vogel
Harvard University Press, 1995

Health, safety, and environmental regulations have been traditionally perceived as distinct entities from trade policy, yet today they have become intertwined on a global scale. In this pioneering work, David Vogel integrates environmental, consumer, and trade policy, and explicitly challenges the conventional wisdom that trade liberalization and agreements to promote free trade invariably undermine national health, safety, and environmental standards. Vogel demonstrates that liberal trade policies often produce precisely the opposite effect: that of strengthening regulatory standards.

The most comprehensive account of trade and regulation on a global scale, this book analyzes the regulatory dimensions of all major international and regional trade agreements and treaties, including GATT, NAFTA, the Free Trade Agreement between Canada and the United States, and the treaties that created the European Community and Union. He explores in depth some of the most important trade and regulatory conflicts, including the GATT tuna-dolphin dispute, the EC's beef hormone ban, the Danish bottle case, and the debate in the United States over the regulatory implications of both NAFTA and GATT.

This timely book unravels the increasingly important and contentious relationship between trade and environmental, health, and safety standards, paying particular attention to the politics that underlie trade and regulatory linkages. Trading Up is essential reading for the business community, policymakers, environmentalists, consumer interest groups, political scientists, lawyers, and economists.

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The Tragic Science
How Economists Cause Harm (Even as They Aspire to Do Good)
George F. DeMartino
University of Chicago Press, 2022
A forceful critique of the social science that has ruled—and damaged—the modern world. 

The practice of economics, as economists will tell you, is a powerful force for good. Economists are the guardians of the world’s economies and financial systems. The applications of economic theory can alleviate poverty, reduce disease, and promote sustainability. 

While this narrative has been successfully propagated by economists, it belies a more challenging truth: economic interventions, including those economists deem successful, also cause harm. Sometimes the harm is manageable and short-lived. But just as often the harm is deep, enduring, and even irreparable. And too often the harm falls on those least able to survive it. 

In The Tragic Science, George F. DeMartino says what economists have too long repressed: that economists do great harm even as they aspire to do good. Economist-induced harm, DeMartino shows, results in part from economists’ “irreparable ignorance”—from the fact that they know far less than they tend to believe they know—and from disciplinary training that treats the human tolls of economic policies and interventions as simply the costs of promoting social betterment. DeMartino details the complicated nature of economic harm, explores economists’ frequent failure to recognize it, and makes a sobering case for professional humility and for genuine respect for those who stand to be harmed by economists’ practice.

At a moment in history when the economics profession holds enormous power, DeMartino’s work demonstrates the downside of its influence and the responsibility facing those who practice the tragic science.
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Translating Empire
Emulation and the Origins of Political Economy
Sophus A. Reinert
Harvard University Press, 2011

Historians have traditionally used the discourses of free trade and laissez faire to explain the development of political economy during the Enlightenment. But from Sophus Reinert’s perspective, eighteenth-century political economy can be understood only in the context of the often brutal imperial rivalries then unfolding in Europe and its former colonies and the positive consequences of active economic policy. The idea of economic emulation was the prism through which philosophers, ministers, reformers, and even merchants thought about economics, as well as industrial policy and reform, in the early modern period. With the rise of the British Empire, European powers and others sought to selectively emulate the British model.

In mapping the general history of economic translations between 1500 and 1849, and particularly tracing the successive translations of the Bristol merchant John Cary’s seminal 1695 Essay on the State of England, Reinert makes a compelling case for the way that England’s aggressively nationalist policies, especially extensive tariffs and other intrusive market interventions, were adopted in France, Italy, Germany, and Scandinavia before providing the blueprint for independence in the New World. Relatively forgotten today, Cary’s work served as the basis for an international move toward using political economy as the prime tool of policymaking and industrial expansion.

Reinert’s work challenges previous narratives about the origins of political economy and invites the current generation of economists to reexamine the foundations, and future, of their discipline.

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Transnational Capitalism in East Central Europe's Heavy Industry
From Flagship Enterprises to Subsidiaries
Aleksandra Sznajder Lee
University of Michigan Press, 2016
Focusing on the steel industry during the post-communist transition from 1989 through 2009, Aleksandra Sznajder Lee traces the transformation of flagship state enterprises in the Czech Republic, Poland, Romania, and Slovakia into the subsidiaries of large, international corporations. By analyzing this transformation at the three levels of enterprise, sector, and national-international nexus, she identifies the players—from international investors and European Union members to national labor unions and local industry managers—in the political economy of reform. Even in the midst of the transition to a capitalist, democratic system, Sznajder Lee finds, the state plays a key role in mediating between domestic vested interests and external pressures from international financial markets and institutions, on the one hand, and regional institutions on the other. Whereas state power may be employed to require domestic firms to operate as capitalists in the international market, it may also be used to shield enterprises from market pressures in order to promote the political and personal preferences of the elite.

This book has broad implications for the political economy of reform because it illuminates the political determinants of privatization and the resources used to resist it. In addition, Sznajder Lee sheds new light on why some countries are more likely than others to be subject to external constraints, such as IMF conditionality, and how some allegedly pro-market reformers manage to maintain public ownership over certain industry sectors.

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A Treatise on the Family
Enlarged Edition
Gary S. Becker
Harvard University Press, 1991

Imagine each family as a kind of little factory—a multiperson unit producing meals, health, skills, children, and self-esteem from market goods and the time, skills, and knowledge of its members. This is only one of the remarkable concepts explored by Gary S. Becker in his landmark work on the family. Becker applies economic theory to the most sensitive and fateful personal decisions, such as choosing a spouse or having children. He uses the basic economic assumptions of maximizing behavior, stable preferences, arid equilibria in explicit or implicit markets to analyze the allocation of time to child care as well as to careers, to marriage and divorce in polygynous as well as monogamous societies, to the increase and decrease of wealth from one generation to another.

The consideration of the family from this perspective has profound theoretical and practical implications. For example, Becker’s analysis of assortative mating can be used to study matching processes generally. Becker extends the powerful tools of economic analysis to problems once considered the province of the sociologist, the anthropologist, and the historian. The obligation of these scholars to take account of his work thus constitutes an important step in the unification of the social sciences.

A Treatise on the Family will have an impact on public policy as well. Becker shows that social welfare programs have significant effects on the allocation of resources within families. For example, social security taxes tend to reduce the amount of resources children give to their aged parents. The implications of these findings are obvious and far-reaching. With the publication of this extraordinary book, the family moves to the forefront of the research agenda in the social sciences.

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A Treatise on the Family
First Edition
Gary S. Becker
Harvard University Press, 1981

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Tribal Water Rights
Essays in Contemporary Law, Policy, and Economics
Edited by John E. Thorson, Sarah Britton, and Bonnie G. Colby
University of Arizona Press, 2006
The settlement of Indian water rights cases remains one of the thorniest legal issues in this country, particularly in the West. In a previous book, Negotiating Tribal Water Rights, Colby, Thorson, and Britton presented a general overview of the processes involved in settling such cases; this volume provides more in-depth treatment of the many complex issues that arise in negotiating and implementing Indian water rights settlements. Tribal Water Rights brings together practicing attorneys and leading scholars in the fields of law, economics, public policy, and conflict resolution to examine issues that continue to confront the settlement of tribal claims. With coverage ranging from the differences between surface water and groundwater disputes to the distinctive nature of Pueblo claims, and from allotment-related problems to the effects of the Endangered Species Act on water conflicts, the book presents the legal aspects of tribal water rights and negotiations along with historical perspectives on their evolution.
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Trust and Distrust In Organizations
Dilemmas and Approaches
Roderick M. Kramer
Russell Sage Foundation, 2004
The effective functioning of a democratic society—including social, business, and political interactions—largely depends on trust. Yet trust remains a fragile and elusive resource in many of the organizations that make up society's building blocks. In their timely volume, Trust and Distrust in Organizations, editors Roderick M. Kramer and Karen S. Cook have compiled the most important research on trust in organizations, illuminating the complex nature of how trust develops, functions, and often is thwarted in organizational settings. With contributions from social psychologists, sociologists, political scientists, economists, and organizational theorists, the volume examines trust and distrust within a variety of settings—from employer-employee and doctor-patient relationships, to geographically dispersed work teams and virtual teams on the internet. Trust and Distrust in Organizations opens with an in-depth examination of hierarchical relationships to determine how trust is established and maintained between people with unequal power. Kurt Dirks and Daniel Skarlicki find that trust between leaders and their followers is established when people perceive a shared background or identity and interact well with their leader. After trust is established, people are willing to assume greater risks and to work harder. In part II, the contributors focus on trust between people in teams and networks. Roxanne Zolin and Pamela Hinds discover that trust is more easily established in geographically dispersed teams when they are able to meet face-to-face initially. Trust and Distrust in Organizations moves on to an examination of how people create and foster trust and of the effects of power and betrayal on trust. Kimberly Elsbach reports that managers achieve trust by demonstrating concern, maintaining open communication, and behaving consistently. The final chapter by Roderick Kramer and Dana Gavrieli includes recently declassified data from secret conversations between President Lyndon Johnson and his advisors that provide a rich window into a leader's struggles with problems of trust and distrust in his administration. Broad in scope, Trust and Distrust in Organizations provides a captivating and insightful look at trust, power, and betrayal, and is essential reading for anyone wishing to understand the underpinnings of trust within a relationship or an organization. A Volume in the Russell Sage Foundation Series on Trust
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Trust, Ethnicity, and Identity
Beyond the New Institutional Economics of Ethnic Trading Networks, Contract Law, and Gift-Exchange
Janet Tai Landa
University of Michigan Press, 1995

Trust, Ethnicity, and Identity deals with the economic role of laws and institutions in achieving social order in a decentralized economy. Specifically, this book considers the coordinating role of three major nonprice institutions--ethnic trading networks, contract law, and gift-exchange--in economizing on transaction costs and thus facilitating the process of exchange in decentralized economies in different historical contexts.

The major unifying theme of the book is this: identity matters when traders operate in an environment characterized by contract uncertainty, where the legal framework for the enforcement of contracts is not well developed. This in turn points out the importance of trust embedded in particularistic exchange relations such as kinship or ethnicity.

One unique facet of this book is that the author uses a property rights--public choice approach--part of the New Institutional Economics--to provide a unifying theoretical framework to explain such diverse exchange institutions as contract law, ethnic trading networks, and gift-exchange, In addition, it goes beyond the New Institutional Economics paradigm by incorporating some crucial concepts from sociology, anthropology, and bioeconomics, such as social structure, social norms, culture, reciprocity, and kin-related altruism. This broad interdisciplinary framework gives Landa's work a relevance beyond economics to law, political science, sociology, anthropology, and bioeconomics.

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