Simon Pirani investigates the interaction of power, money and people in Russia during the presidencies of Vladimir Putin and his successor Dmitry Medvedev.

Profiling the Putin team, including contingents from the security services and pro-market economic "reformers", Pirani argues that the economic growth it presided over during the oil boom was one-sided. The gap between rich and poor widened. Now the boom is over, inequalities will multiply further. As well as explaining Russia's economic trajectory, the book provides a unique account of the social movements that are working against an increasingly authoritarian government to change Russia for the better.

This is the perfect introduction for undergraduates approaching Russia for the first time and those who wish to know how Russia will change during the economic crisis.

This book situates John Locke’s philosophy of knowledge and his political theory within his engagement in British monetary debates of the 17th and 18th century.

Anchored in extensive archival research, George Caffentzis offers the most expansive reading of Locke’s economic thought to date, contextualizing it within the expansion of capitalist accumulation on a world scale and the universality of money as a medium of exchange.

Updated with a new introduction by Paul Rekret, a new foreword by Harry Cleaver and new material by the author, Clipped Coins, Abused Words, and Civil Government continues to make a significant intervention in contemporary debates around the history of capitalism, colonialism and philosophy.

Framed by the decline of the Heian aristocracy in the late 1100s and the rise of the Tokugawa shogunate in the early 1600s, Japan’s medieval era was a chaotic period of diffuse political power and frequent military strife. This instability prevented central authorities from regulating trade, issuing currency, enforcing contracts, or guaranteeing property rights. But the lack of a strong central government did not inhibit economic growth. Rather, it created opportunities for a wider spectrum of society to participate in trade, markets, and monetization.

Peripheral elites—including merchants, warriors, rural estate managers, and religious leaders—devised new ways to circumvent older forms of exchange by importing Chinese currency, trading in local markets, and building an effective system of long-distance money remittance. Over time, the central government recognized the futility of trying to stifle these developments, and by the sixteenth century it asserted greater control over monetary matters throughout the realm.

Drawing upon diaries, tax ledgers, temple records, and government decrees, Ethan Isaac Segal chronicles how the circulation of copper currency and the expansion of trade led to the start of a market-centered economy and laid the groundwork for Japan’s transformation into an early modern society.

Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange.

Lucas’s contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he incorporated the quantity theory of money into these models and derived its implications for money growth, inflation, and interest rates in the long run. He also showed the different effects of anticipated and unanticipated changes in the stock of money on economic fluctuations, and helped to demonstrate that there was not a long-run trade-off between unemployment and inflation (the Phillips curve) that policy-makers could exploit.

The twenty-one papers collected in this volume fall primarily into three categories: core monetary theory and public finance, asset pricing, and the real effects of monetary instability. Published between 1972 and 2007, they will inspire students and researchers who want to study the work of a master of economic modeling and to advance economics as a pure and applied science.

“Read this book. It explains so much about the moment…Beautiful, heartbreaking work.”
—Ta-Nehisi Coates

“A deep accounting of how America got to a point where a median white family has 13 times more wealth than the median black family.”
—The Atlantic

“Extraordinary…Baradaran focuses on a part of the American story that’s often ignored: the way African Americans were locked out of the financial engines that create wealth in America.”
—Ezra Klein

When the Emancipation Proclamation was signed in 1863, the black community owned less than 1 percent of the total wealth in America. More than 150 years later, that number has barely budged. The Color of Money seeks to explain the stubborn persistence of this racial wealth gap by focusing on the generators of wealth in the black community: black banks.

With the civil rights movement in full swing, President Nixon promoted “black capitalism,” a plan to support black banks and minority-owned businesses. But the catch-22 of black banking is that the very institutions needed to help communities escape the deep poverty caused by discrimination and segregation inevitably became victims of that same poverty. In this timely and eye-opening account, Baradaran challenges the long-standing belief that black communities could ever really hope to accumulate wealth in a segregated economy.

“Black capitalism has not improved the economic lives of black people, and Baradaran deftly explains the reasons why.”
—Los Angeles Review of Books

“A must read for anyone interested in closing America’s racial wealth gap.”
—Black Perspectives