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The Papers of Robert Morris, 1781–1784, Vol. 9
Robert Morris
University of Pittsburgh Press, 1999
Although Robert Morris (1734-1806), "the Financier of the American Revolution," was a signer of the Declaration of Independence, the Articles of Confederation, and the Constitution, a powerful committee chairman in the Continental Congress, an important figure in Pennsylvania politics, and perhaps the most prominent businessman of his day, he is today least known of the great national leaders of the Revolutionary era.This oversight is being rectified by this  definitive publication project that transcribes and carefully annotates the Office of Finance diary, correspondence, and other official papers written by Morris during his administration as superintendent of finance from 1781 to 1784.
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The Papers of Robert Morris, 1781–1784, Volume 6
Robert Morris
University of Pittsburgh Press, 1984
Although Robert Morris (1734-1806), "the Financier of the American Revolution," was a signer of the Declaration of Independence, the Articles of Confederation, and the Constitution, a powerful committee chairman in the Continental Congress, an important figure in Pennsylvania politics, and perhaps the most prominent businessman of his day, he is today least known of the great national leaders of the Revolutionary era.This oversight is being rectified by this  definitive publication project that transcribes and carefully annotates the Office of Finance diary, correspondence, and other official papers written by Morris during his administration as superintendent of finance from 1781 to 1784.
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The Papers of Robert Morris, 1781–1784, Volume 8
Robert Morris
University of Pittsburgh Press, 1996
Although Robert Morris (1734-1806), "the Financier of the American Revolution," was a signer of the Declaration of Independence, the Articles of Confederation, and the Constitution, a powerful committee chairman in the Continental Congress, an important figure in Pennsylvania politics, and perhaps the most prominent businessman of his day, he is today least known of the great national leaders of the Revolutionary era.This oversight is being rectified by this  definitive publication project that transcribes and carefully annotates the Office of Finance diary, correspondence, and other official papers written by Morris during his administration as superintendent of finance from 1781 to 1784.
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Paths to Excellence
The Dell Medical School and Medical Education in Texas
Kenneth I. Shine and Amy Shaw Thomas
University of Texas Press, 2021
For more than a century, medical schools and academic campuses were largely separate in Texas. Though new medical technologies and drugs—conceivably, even a vaccine instrumental in the prevention of a pandemic—might be developed on an academic campus such as the University of Texas at Austin, there was no co-located medical school with which to collaborate. Faculty members were left to seek experts on distant campuses. That all changed on May 3, 2012, when the UT System Board of Regents voted to create the Dell Medical School in Austin.

This book tells in detail and for the first time the story of how this change came about: how dedicated administrators, alumni, business leaders, community organizers, doctors, legislators, professors, and researchers joined forces, overcame considerable resistance, and raised the funds to build a new medical school without any direct state monies. Funding was secured in large part by the unique willingness of the local community to tax itself to pay for the financial operations of the school. Kenneth I. Shine and Amy Shaw Thomas, who witnessed this process from their unique vantages as past and present vice chancellors for health affairs in the University of Texas System, offer a working model that will enable other leaders to more effectively seek solutions, avoid pitfalls, and build for the future.
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Paying the Price
College Costs, Financial Aid, and the Betrayal of the American Dream
Sara Goldrick-Rab
University of Chicago Press, 2016
If you are a young person, and you work hard enough, you can get a college degree and set yourself on the path to a good life, right?
 
Not necessarily, says Sara Goldrick-Rab, and with Paying the Price, she shows in damning detail exactly why. Quite simply, college is far too expensive for many people today, and the confusing mix of federal, state, institutional, and private financial aid leaves countless students without the resources they need to pay for it.
 
Drawing on an unprecedented study of 3,000 young adults who entered public colleges and universities in Wisconsin in 2008 with the support of federal aid and Pell Grants, Goldrick-Rab reveals the devastating effect of these shortfalls. Half the students in the study left college without a degree, while less than 20 percent finished within five years. The cause of their problems, time and again, was lack of money. Unable to afford tuition, books, and living expenses, they worked too many hours at outside jobs, dropped classes, took time off to save money, and even went without adequate food or housing. In many heartbreaking cases, they simply left school—not with a degree, but with crippling debt. Goldrick-Rab combines that shocking data with devastating stories of six individual students, whose struggles make clear the horrifying human and financial costs of our convoluted financial aid policies.
 
America can fix this problem. In the final section of the book, Goldrick-Rab offers a range of possible solutions, from technical improvements to the financial aid application process, to a bold, public sector–focused “first degree free” program. What’s not an option, this powerful book shows, is doing nothing, and continuing to crush the college dreams of a generation of young people.
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Pennies for Heaven
The History of American Synagogues and Money
Daniel Judson
Brandeis University Press, 2018
In the annals of American Jewish history, synagogue financial records have been largely overlooked. But as Daniel Judson shows in his examination of synagogue ledgers from 1728 to the present, these records provide an array of new insights into the development of American synagogues and the values of the Jews who worshipped in them. Looking at the history of American synagogues through an economic lens, Judson examines how synagogues raised funds, financed buildings, and paid clergy. By “following the money,” he reveals the priorities of the Jewish community at a given time. Throughout the book, Judson traces the history of capital campaigns and expenditures for buildings. He also explores synagogue competition and debates over previously sold seats, what to do about wealthy widows, the breaking down of gender norms, the hazan “bubble” (which saw dozens of overpaid cantors come to the United States from Europe), the successful move to outlaw “mushroom synagogues,” and the nascent synagogue-sharing economy of the twenty-first century. Judson shows as well the ongoing relationship of synagogue and church financing as well as the ways in which the American embrace of the free market in all things meant that the basic rules of supply and demand ultimately prevailed in the religious as well as the commercial realm.
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Pension Puzzles
Social Security and the Great Debate
Melissa Hardy
Russell Sage Foundation, 2007
The rancorous debate over the future of Social Security reached a fever pitch in 2005 when President Bush unsuccessfully proposed a plan for private retirement accounts. Although efforts to reform Social Security seem to have reached an impasse, the long-term problem—the projected Social Security deficit—remains. In Pension Puzzles, sociologists Melissa Hardy and Lawrence Hazelrigg explain for a general audience the fiscal challenges facing Social Security and explore the larger political context of the Social Security debate. Pension Puzzles cuts through the sloganeering of politicians in both parties, presenting Social Security's technical problems evenhandedly and showing how the Social Security debate is one piece of a larger political struggle. Hardy and Hazelrigg strip away the ideological baggage to explicate the basic terms and concepts needed to understand the predicament of Social Security. They compare the cases for privatizing Social Security and for preserving the program in its current form with adjustments to taxes and benefits, and they examine the different economic projections assumed by proponents of each approach. In pursuit of its privatization agenda, Hardy and Hazelrigg argue, the Bush administration has misled the public on an issue that was already widely misunderstood. The authors show how privatization proponents have relied on dubious assumptions about future rates of return to stock market investments and about the average citizen's ability to make informed investment decisions. In addition, the administration has painted the real but manageable shortfalls in Social Security revenue as a fiscal crisis. Projections of Social Security revenues and benefits by the Social Security Administration have treated revenues as fixed, when in fact they are determined by choices made by Congress. Ultimately, as Hardy and Hazelrigg point out, the clash over Social Security is about more than technical fiscal issues: it is part of the larger culture wars and the ideological struggle over what kind of social responsibilities and rights American citizens should have. This rancorous partisan wrangling, the alarmist talk about a "crisis" in Social Security, and the outright deception employed in this debate have all undermined the trust between citizens and government that is needed to restore the solvency of Social Security for future generations of retirees. Drawing together economic analyses, public opinion data, and historical narratives, Pension Puzzles is a lucid and engaging guide to the major proposals for Social Security reform. It is also an insightful exploration of what that debate reveals about American political culture in the twenty-first century. A Volume in the American Sociological Association's Rose Series in Sociology
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Planning Educational Systems for Economic Growth
Samuel Bowles
Harvard University Press, 1969

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The Political Economy of the Brazilian State, 1889–1930
By Steven Topik
University of Texas Press, 1987

In this first overview of the Brazilian republican state based on extensive primary source material, Steven Topik demonstrates that well before the disruption of the export economy in 1929, the Brazilian state was one of the most interventionist in Latin America. This study counters the previous general belief that before 1930 Brazil was dominated by an export oligarchy comprised of European and North American capitalists and that only later did the state become prominent in the country’s economic development.

Topik examines the state’s performance during the First Republic (1889–1930) in four sectors—finance, the coffee trade, railroads, and industry. By looking at the controversies in these areas, he explains how domestic interclass and international struggles shaped policy and notes the degree to which the state acted relatively independently of civil society.

Topik’s primary concern is the actions of state officials and whether their decisions reflected the demands of the ruling class. He shows that conflicting interests of fractions of the ruling class and foreign investors gradually led to far greater state participation than any of the participants originally desired, and that the structure of the economy and of society—not the intentions of the actors—best explains the state’s economic presence.

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Political Standards
Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy
Karthik Ramanna
University of Chicago Press, 2015
Prudent, verifiable, and timely corporate accounting is a bedrock of our modern capitalist system. In recent years, however, the rules that govern corporate accounting have been subtly changed in ways that compromise these core principles, to the detriment of the economy at large. These changes have been driven by the private agendas of certain corporate special interests, aided selectively—and sometimes unwittingly—by arguments from business academia
           
With Political Standards, Karthik Ramanna develops the notion of “thin political markets” to describe a key problem facing technical rule-making in corporate accounting and beyond. When standard-setting boards attempt to regulate the accounting practices of corporations, they must draw on a small pool of qualified experts—but those experts almost always have strong commercial interests in the outcome. Meanwhile, standard setting rarely enjoys much attention from the general public. This absence of accountability, Ramanna argues, allows corporate managers to game the system. In the profit-maximization framework of modern capitalism, the only practicable solution is to reframe managerial norms when participating in thin political markets. Political Standards will be an essential resource for understanding how the rules of the game are set, whom they inevitably favor, and how the process can be changed for a better capitalism.
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Politicians, Judges, and City Schools
Reforming School Finance in New York
Joel S. Berke
Russell Sage Foundation, 1984
During the 1970s, a nationwide school finance reform movement—fueled by litigation challenging the constitutionality of state education funding laws—brought significant changes to the way many states finance their public elementary and secondary school systems. School finance reform poses difficult philosophical questions: what is the meaning of equality in educational opportunity and of equity in the distribution of tax burdens? But it also involves enormous financial complexity (for example, dividing resources among competing special programs) and political risk (such as balancing local control with the need for statewide parity). For those states (like New York) that were slow to make changes a new decade has brought new constraints and complications. Sluggish economic growth, taxpayer revolts, reductions in federal aid, all affect education revenues. And the current concern with educational excellence may obscure the needs of the poor and educationally disadvantaged. This book will provide New York's policy makers and other concerned specialists with a better understanding of the political, economic, and equity issues underlying the school finance reform debate. It details existing inequities, evaluates current financing formulas, and presents options for change. Most important, for all those concerned with education and public policy in New York and elsewhere, it offers a masterful assessment of the trade-offs involved in developing reform programs that balance the conflicting demands of resource equalization, political feasibility, and fiscal responsibility. "Synthesizes the political and fiscal research [on school finance reform] and applies it to the New York Context....A blueprint for how to redesign state school finance....A fine book." —Public Administration Review "This is a book that lucidly discusses the issues in school finance and provides valuable reference material." —American Political Science Review
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The Politics of Patronage
Lawyers, Philanthropy, and the Mexican American Legal Defense and Educational Fund
By Benjamin Márquez
University of Texas Press, 2021

Co-winner, Latino Politics Best Book Award, American Political Science Association

The first book about the Mexican American Legal Defense and Educational Fund, the influential work it has done for the Latina/o community, and the issues stemming from its dependence on large philanthropic organizations.

Founded in 1968, the Mexican American Legal Defense and Educational Fund (MALDEF) is the Latino equivalent to the NAACP: a source of legal defense for the Latina/o community in cases centered on education, state immigration laws, redistricting, employment discrimination, and immigrant rights. Unlike the NAACP, however, MALDEF was founded by Mexican American activists in conjunction with the larger philanthropic structure of the Ford Foundation—a relationship that has opened it up to controversy and criticism.

In the first book to examine this little-known but highly influential organization, Benjamin Márquez explores MALDEF’s history and shows how it has thrived and served as a voice for the Latina/o community throughout its six decades of operation. But he also looks closely at large-scale investments of the Ford Foundation, Rockefeller Foundation, and others, considering how their ties to MALDEF have influenced Mexican American and Latinx politics. Its story crafted from copious research into MALDEF and its benefactors, this book brings to light the influence of outside funding on the articulation of minority identities and the problems that come with creating change through institutional means.

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Priceless Markets
The Political Economy of Credit in Paris, 1660-1870
Philip T. Hoffman, Gilles Postel-Vinay, and Jean-Laurent Rosenthal
University of Chicago Press, 2000
This pathbreaking book shows how credit markets functioned in Paris, through the agency of notaries, during a critical period of French history. Its authors challenge the usual assumption that organized financial markets—and hence the opportunity for economic growth—did not emerge outside of England and the Netherlands until the nineteenth century. Drawing on innovative research, the authors show that as early as the Old Regime, financial intermediaries in France were mobilizing a great tide of capital and arranging thousands of loans between borrowers and lenders.

The implications for historians and economists are substantial. The role of notaries operating in Paris that Priceless Markets uncovers has never before been recognized. In the wake of this pathbreaking new study, historians will also have to rethink the origins of the French Revolution. As the authors show, the crisis of 1787-88 did not simply ignite revolt; it was intimately bound up in an economic struggle that reached far back into the eighteenth century, and continued well into the 1800s.
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Principles of International Auditing and Assurance
4th Edition
Rick Hayes
Amsterdam University Press, 2021
The first textbook based upon International Standards on Auditing (ISAs), this fully revised and updated fourth edition presents a structured approach to auditing principles using ISAs as its basis. The International Standards on Auditing are now widely regarded as the global benchmark for auditing standards and as such an important audit quality indicator. This book describes the developments and practical use of all ISAs, as well as significant national standards in different countries. The new edition has been updated in line with International Standards and presents a truly International perspective. The book provides students with a real-world perspective as close to current auditing practice and thinking as possible.
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Private Equity at Work
When Wall Street Manages Main Street
Eileen Appelbaum
Russell Sage Foundation, 2014
Private equity firms have long been at the center of public debates on the impact of the financial sector on Main Street companies. Are these firms financial innovators that save failing businesses or financial predators that bankrupt otherwise healthy companies and destroy jobs? The first comprehensive examination of this topic, Private Equity at Work provides a detailed yet accessible guide to this controversial business model. Economist Eileen Appelbaum and Professor Rosemary Batt carefully evaluate the evidence—including original case studies and interviews, legal documents, bankruptcy proceedings, media coverage, and existing academic scholarship—to demonstrate the effects of private equity on American businesses and workers. They document that while private equity firms have had positive effects on the operations and growth of small and mid-sized companies and in turning around failing companies, the interventions of private equity more often than not lead to significant negative consequences for many businesses and workers. Prior research on private equity has focused almost exclusively on the financial performance of private equity funds and the returns to their investors. Private Equity at Work provides a new roadmap to the largely hidden internal operations of these firms, showing how their business strategies disproportionately benefit the partners in private equity firms at the expense of other stakeholders and taxpayers. In the 1980s, leveraged buyouts by private equity firms saw high returns and were widely considered the solution to corporate wastefulness and mismanagement. And since 2000, nearly 11,500 companies—representing almost 8 million employees—have been purchased by private equity firms. As their role in the economy has increased, they have come under fire from labor unions and community advocates who argue that the proliferation of leveraged buyouts destroys jobs, causes wages to stagnate, saddles otherwise healthy companies with debt, and leads to subsidies from taxpayers. Appelbaum and Batt show that private equity firms’ financial strategies are designed to extract maximum value from the companies they buy and sell, often to the detriment of those companies and their employees and suppliers. Their risky decisions include buying companies and extracting dividends by loading them with high levels of debt and selling assets. These actions often lead to financial distress and a disproportionate focus on cost-cutting, outsourcing, and wage and benefit losses for workers, especially if they are unionized. Because the law views private equity firms as investors rather than employers, private equity owners are not held accountable for their actions in ways that public corporations are. And their actions are not transparent because private equity owned companies are not regulated by the Securities and Exchange Commission. Thus, any debts or costs of bankruptcy incurred fall on businesses owned by private equity and their workers, not the private equity firms that govern them. For employees this often means loss of jobs, health and pension benefits, and retirement income. Appelbaum and Batt conclude with a set of policy recommendations intended to curb the negative effects of private equity while preserving its constructive role in the economy. These include policies to improve transparency and accountability, as well as changes that would reduce the excessive use of financial engineering strategies by firms. A groundbreaking analysis of a hotly contested business model, Private Equity at Work provides an unprecedented analysis of the little-understood inner workings of private equity and of the effects of leveraged buyouts on American companies and workers. This important new work will be a valuable resource for scholars, policymakers, and the informed public alike.
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Private Metropolis
The Eclipse of Local Democratic Governance
Dennis R. Judd
University of Minnesota Press, 2021

Examines the complex ecology of quasi-public and privatized institutions that mobilize and administer many of the political, administrative, and fiscal resources of today’s metropolitan regions

In recent decades metropolitan regions in the United States have witnessed the rise of multitudes of “shadow governments” that often supersede or replace functions traditionally associated with municipalities and other local governments inherited from the urban past. Shadow governments take many forms, ranging from billion-dollar special authorities that span entire urban regions, to public–private partnerships and special districts created to accomplish particular tasks, to privatized gated communities, to neighborhood organizations empowered to receive private and public funds. They finance and administer public services ranging from the prosaic (garbage collection and water utilities) to the transformative (economic development and infrastructure). Private Metropolis demonstrates that this complex ecosystem of local governance has compromised and even eclipsed democratic processes by moving important policy decisions out of public sight. 

The quasi-public institutions of urban governance generally escape the budgetary and statutory restraints imposed on traditional local governments and protect policy decisions from the limitations and vagaries of electoral politics. Moving major policy decisions into a privatized and corporatized realm facilitates efficiency and speed, but at the cost of democratic oversight. Increasingly, the urban electorate is left debating symbolic issues only tangentially connected to the actual distribution of the resources that affect people’s lives. 

The essays in Private Metropolis grapple with the difficult and timely questions that arise from this new ecology of governance: What are the consequences of the proliferation of special authorities, privatized governments, and public–private arrangements? Is the trade-off between democratic accountability and efficiency worth it? Has the public sector, with its messiness and inefficiencies—but also its checks and balances—ceded too much power to these new institutions? By examining such questions, this book provokes a long-overdue debate about the future of urban governance.

Contributors: Douglas Cantor, California State U, Long Beach; Ellen Dannin, Pennsylvania State U; Jameson W. Doig, Princeton U; Mary Donoghue; Peter Eisinger, New School; Steven P. Erie, U of California, San Diego; Rebecca Hendrick, U of Illinois at Chicago; Sara Hinkley, U of California, Berkeley; Amanda Kass, U of Illinois at Chicago; Scott A. MacKenzie, U of California, Davis; David C. Perry, U of Illinois at Chicago; James M. Smith, U of Indiana South Bend; Shu Wang, Michigan State U; Rachel Weber, U of Illinois at Chicago.

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Private Wealth and Public Education
John E. Coons, William H. Clune, III, and Stephen D. Sugarman
Harvard University Press, 1970
This provocative book is a challenge to the economic structure of American public education, which has historically offered better public education to families residing in school districts with higher property values. Lawyers Coons, Clune, and Sugarman analyze and expose the discrimination by wealth inherent in existing state systems of school finance, developing a model for testing the effects of wealth variations. Not satisfied with delineating the problem, the authors propose a solution based upon manipulation of state and local taxes—a hypothetical but workable plan which they have termed "power equalizing." A final section of the volume demonstrates that the intervention of the judiciary is the primary hope for change.
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A Problem of Fit
How the Complexity of College Pricing Hurts Students—and Universities
Phillip B. Levine
University of Chicago Press, 2022
A critical examination of the complex system of college pricing—how it works, how it fails, and how fixing it can help both students and universities.

How much does it cost to attend college in the United States today? The answer is more complex than many realize. College websites advertise a sticker price, but uncovering the actual price—the one after incorporating financial aid—can be difficult for students and families. This inherent uncertainty leads some students to forgo applying to colleges that would be the best fit for them, or even not attend college at all. The result is that millions of promising young people may lose out on one of society’s greatest opportunities for social mobility. Colleges suffer too, losing prospective students and seeing lower enrollments and less socioeconomic diversity. If markets require prices to function well, then the American higher-education system—rife as it is with ambiguity in its pricing—amounts to a market failure.

In A Problem of Fit, economist Phillip B. Levine explains why institutions charge the prices they do and discusses the role of financial aid systems in facilitating—and discouraging—access to college. Affordability issues are real, but price transparency is also part of the problem. As Levine makes clear, our conversations around affordability and free tuition miss a larger truth: that the opacity of our current college-financing systems is a primary driver of inequities in education and society. In a clear-eyed assessment of educational access and aid in a post-COVID-19 economy, A Problem of Fit offers a trenchant new argument for educational reforms that are well within reach.
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Public Dollars, Private Stadiums
The Battle over Building Sports Stadiums
Delaney, Kevin J.
Rutgers University Press, 2003

The authors provide an eye-opening account of recent battles over publicly financed stadiums in some of America’s largest cities. Their interviews with the key decision makers present a behind-the-scenes look at how and why powerful individuals and organizations foist these sports palaces on increasingly unreceptive communities.

 Delaney and Eckstein show that in the face of studies demonstrating that new sports facilities don’t live up to their promise of big money, proponents are using a new tactic to win public subsidies¾intangible “social” rewards, such as prestige and community cohesion. The authors find these to be empty promises as well, demonstrating that new stadiums may exacerbate, rather than erase, social problems in cities.

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