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How the best intentions of African socialism became the useful tools of capitalism.

In the mid-twentieth century, skilled labor was seen as the key to national development. For newly independent African countries, this posed a formidable challenge: to build thriving economies, they needed to rapidly educate workers. As it turns out, that wasn’t their only obstacle.

Ambition and Adjustment reveals how responses to this human capital problem from the political left and right converged in unlikely ways to block Africa’s postcolonial progress. Focusing on nation-building projects in Zambia and Tanzania, Priya Lal recounts how the first generations of Africa’s professional class faced pressures on all sides—from foreign planners prioritizing economic growth and from local socialists decrying higher education and professionalization as wasteful and elitist. When African development stalled, international institutions like the World Bank took up parts of both approaches, justifying structural adjustment programs that defunded African universities and hospitals in the name of social equity. Indeed, Lal shows that neoliberal austerity in the 1990s was packaged in Africa’s socialist narratives from the 1960s.

By unearthing this forgotten history, Ambition and Adjustment upends traditional accounts of postcolonial development, exposing how socialism and capitalism both conflicted and overlapped to shape Africa’s trajectory since independence.

A collection of the most advanced and authoritative agricultural-economic research in the face of increasing water scarcity.

Agriculture has been critical in the development of the American economy. Except in parts of the western United States, water access has not been a critical constraint on agricultural productivity, but with climate change, this may no longer be the case. This volume highlights new research on the interconnections between American agriculture, water resources, and climate change. It examines climatic and geologic factors that affect the agricultural sector and highlights historical and contemporary farmer responses to varying conditions and water availability. It identifies the potential effects of climate change on water supplies, access, agricultural practices, and profitability, and analyzes technological, agronomic, management, and institutional adjustments. Adaptations such as new crops, production practices, irrigation technologies, water conveyance infrastructure, fertilizer application, and increased use of groundwater can generate both social benefits and social costs, which may be internalized with various institutional innovations. Drawing on both historical and present experiences, this volume provides valuable insights into the economics of water supply in American agriculture as climate change unfolds.

• Workers do not normally choose to be unemployed.
• In our current system, persistent unemployment is not an aberration. It is much more common than full employment, and the outcome of elite policy choices.
• Labor surpluses propped up by flawed unemployment numbers have helped to keep real wages stagnant for more than forty years.
• Prior to the New Deal and the era of big government, laissez-faire policies repeatedly led to depressions with heavy, even catastrophic, job losses.
• Undercounting the unemployed sabotages the creation of government job programs that can lead to more high-paying jobs and full employment.

The book that made the modern world, reissued in its definitive scholarly form and featuring a new foreword from Nobel Prize winner Amartya Sen.

First published in 1776, Adam Smith’s masterwork The Wealth of Nations formalized the first unified theory of modern economies—how human nature, public institutions, and private interests can coalesce in a society greater than the sum of its parts. More than 250 years later, it remains one of humanity’s most defining and lasting literary works.

This definitive edition includes Edwin Cannan’s famous annotations of the original text, accounting for both Smith’s early drafts and his lectures at the University of Glasgow, where he originated the book’s concepts. The result is the most complete edition of the work to date, maintaining unprecedented fidelity to Smith’s ideas and packaging them in fluent and elevating terms.

In a new foreword, Nobel laureate Amartya Sen offers context and contemporary incision for twenty-first-century readers, discussing the uses—and occasional misuses—of Smith’s ideas for the advancement of political agendas. The Wealth of Nations, Sen makes clear, is a book about societies, not just economies. “Smith’s economics accommodated his values,” he writes. As readers of The Wealth of Nations will discover and rediscover, those values prioritized the lives of everyday working people above all else.