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3071 books match the query 'Business & Economics' and 183 start with a

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Analytical and Negotiating Issues in the Global Trading System

Alan Deardorff and Robert M. Stern, Editors

University of Michigan Press, 1994

This title was formally part of the Studies in International Trade Policy Series, now called Studies in International Economics.

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Ancient Maritime Loan Contracts

Peter Candy

University of Michigan Press, 2025

Ancient Maritime Loan Contracts studies the first millennium of the standard form contracts at the heart of ancient long-distance trade, from the fifth century BCE to Justinian. Maritime loan contracts recorded the terms of agreement on which a creditor lent a sum of money to a merchant or carrier to finance the purchase of a cargo for a trading expedition overseas. They were the lifeblood of the long-distance trade in bulk commodities that flourished in the Mediterranean and Black Seas and were also among the first private agreements to be fully committed to writing. From at least the fifth century BCE, these contracts were highly standardized in their terms, containing boilerplate clauses in a tried-and-tested construction. Maritime loan contracts continued to be used to finance maritime trade until the late Middle Ages, when they were only finally superseded by the contract of marine insurance.

Combining a wide variety of papyrological, epigraphic, and legal evidence, Peter Candy’s framework illustrates the significance of these contracts in both their economic and legal context. By using an interdisciplinary approach, Ancient Maritime Loan Contracts addresses important questions about how maritime trade was financed in the context of the ancient economy; the response of individual legal cultures to maritime loan contracts; and the relationship between international commercial practice and legal development in the ancient world.

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Animals as Food

(Re)connecting Production, Processing, Consumption, and Impacts

Amy J. Fitzgerald

Michigan State University Press, 2015

Every day, millions of people around the world sit down to a meal that includes meat. This book explores several questions as it examines the use of animals as food: How did the domestication and production of livestock animals emerge and why? How did current modes of raising and slaughtering animals for human consumption develop, and what are their consequences? What can be done to mitigate and even reverse the impacts of animal production? With insight into the historical, cultural, political, legal, and economic processes that shape our use of animals as food, Fitzgerald provides a holistic picture and explicates the connections in the supply chain that are obscured in the current mode of food production. Bridging the distance in animal agriculture between production, processing, consumption, and their associated impacts, this analysis envisions ways of redressing the negative effects of the use of animals as food. It details how consumption levels and practices have changed as the relationship between production, processing, and consumption has shifted. Due to the wide-ranging questions addressed in this book, the author draws on many fields of inquiry, including sociology, (critical) animal studies, history, economics, law, political science, anthropology, criminology, environmental science, geography, philosophy, and animal science.

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Anthropologists Wanted

Why Organizations Need Anthropology

Laurens Bakker

Amsterdam University Press, 2021

In Anthropologists Wanted. Why Organizations Need Anthropology the authors present a broad and inspiring survey of anthropologists in the job market. What in fact is anthropology? What skills do anthropologists have? Where do they work? How do they add value in the workplace, according to the people who hire them? And how can anthropologists showcase their qualities to employers? The book contains unique insights for anyone who plans to study, is studying, or has studied anthropology. And for employers interested in why anthropological knowledge is important.

Anthropologists Wanted includes portraits of anthropologists and their diverse occupations, interviews with employers and academic counsellors' answers to frequently asked questions about degree programmes, anthropological skills, and tips to help you land that job.

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Anthropology, Economics, and Choice

By Michael Chibnik

University of Texas Press, 2011

In the midst of global recession, angry citizens and media pundits often offer simplistic theories about how bad decisions lead to crises. Many economists, however, base their analyses on rational choice theory, which assumes that decisions are made by well-informed, intelligent people who weigh risks, costs, and benefits. Taking a more realistic approach, the field of anthropology carefully looks at the underlying causes of choices at different times and places.

Using case studies of choices by farmers, artisans, and bureaucrats drawn from Michael Chibnik's research in Mexico, Peru, Belize, and the United States, Anthropology, Economics, and Choice presents a clear-eyed perspective on human actions and their economic consequences. Five key issues are explored in-depth: choices between paid and unpaid work; ways people deal with risk and uncertainty; how individuals decide whether to cooperate; the extent to which households can be regarded as decision-making units; and the "tragedy of the commons," the theory that social chaos may result from unrestricted access to commonly owned property.

Both an accessible primer and an innovative exploration of economic anthropology, this interdisciplinary work brings fresh insight to a timely topic.

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Anti-Politics Machine

Development, Depoliticization, and Bureaucratic Power in Lesotho

James Ferguson

University of Minnesota Press, 1994

Development, it is generally assumed, is good and necessary, and in its name the West has intervened, implementing all manner of projects in the impoverished regions of the world. When these projects fail, as they do with astonishing regularity, they nonetheless produce a host of regular and unacknowledged effects, including the expansion of bureaucratic state power and the translation of the political realities of poverty and powerlessness into "technical" problems awaiting solution by "development" agencies and experts. It is the political intelligibility of these effects, along with the process that produces them, that this book seeks to illuminate through a detailed case study of the workings of the "development" industry in one country, Lesotho, and in one "development" project.Using an anthropological approach grounded in the work of Foucault, James Ferguson analyzes the institutional framework within which such projects are crafted and the nature of "development discourse," revealing how it is that, despite all the "expertise" that goes into formulating development projects, they nonetheless often demonstrate a startling ignorance of the historical and political realities of the locale they are intended to help. In a close examination of the attempted implementation of the Thaba-Tseka project in Lesotho, Ferguson shows how such a misguided approach plays out, how, in fact, the "development" apparatus in Lesotho acts as an "anti-politics machine," everywhere whisking political realities out of sight and all the while performing, almost unnoticed, its own pre-eminently political operation of strengthening the state presence in the local region.James Ferguson is an associate professor of anthropology at the University of California at Irvine.

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Anticipations of the General Theory?

And Other Essays on Keynes

Don Patinkin

University of Chicago Press, 1982

This book examines the much-debated question of whether John Maynard Keynes' greatest work—The General Theory of Employment Interest and Money—was an instance of Mertonian simultaneous scientific discovery. In part I of this study, Don Patinkin argues for Keynes' originality, rejecting the claims of the Stockholm school and the Polish economist Michal Kalecki. Patinkin shows that the theoretical problems to which the Stockholm school and Kalecki devoted their attention largely differed from those of the General Theory and that, even when the problem addressed was similar, the treatment they accorded it was not part of their central messages. In the remaining parts of the book Patinkin presents a critique of Keynes' theory of effective demand and discusses Keynes' monetary theory and policy thinking, as well as the relationship between the respective developments of Keynesian theory and national income accounting in the 1930s.

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Antidumping Law and Practice

A Comparative Study

John H. Jackson and Edwin A. Vermulst, Editors

University of Michigan Press, 1990

This title was formally part of the Studies in International Trade Policy Series, now called Studies in International Economics.

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Antidumping Law

Policy and Implementation

John H. Jackson, Editor

University of Michigan Press, 1979

Few issues in international trade display a volatility like that of antidumping law. In Antidumping Law: Policy and Implementation the practitioner will find thoughtful expositions of current administration of the laws. Instructive analyses of International Trade Commission standards, the “fast track” procedure, and judicial review of ITC and the Department of Treasury determinations are presented. The Appendix offers an invaluable resource for United States and foreign antidumping law scholars and practitioners.

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Antidumping

How It Works and Who Gets Hurt

J. Michael Finger

University of Michigan Press, 1993

Antidumping is a threat to the liberal trading system that post-World War II Western leadership struggled courageously and effectively to create. It offers a GATT-legal means to destroy the GATT system, leading to restrictions on more U.S. imports than even the Multi-Fibre Arrangement. This book presents studies of five industries whose exports have been hard hit by antidumping actions. Each of these studies avoids the legalisms and the jargon of antidumping and answers a straightforward question: was the national economic interest of either the exporting or the importing country improved by the antidumping actions that were taken? The contributors not only ask questions and present viable answers, but also provide a proposal that offers both consistence with GATT and good economics.This book will be of interest to lawyers, political scientists, economists, and business people. It has intentionally avoided the specialized language of trade regulation so that it may be more readily accessible to anyone interested in international commercial policy.

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Apartheid’s Leviathan

Electricity and the Power of Technological Ambivalence

Faeeza Ballim

Ohio University Press, 2023

A fascinating study that shows how the intersection of technology and politics has shaped South African history since the 1960s. This book details the development of an interconnected technological system of a coal mine and of the Matimba and Medupi power stations in the Waterberg, a rural region of South Africa near the country’s border with Botswana. South Africa’s state steel manufacturing corporation, Iscor, which has since been privatized, developed a coal mine in the region in the 1970s. This set the stage for the national electricity provider, Eskom, to build coal-fueled power stations in the Waterberg. Faeeza Ballim follows the development of these technological systems from the late 1960s, a period of heightened repression as the apartheid government attempted to realize its vision of racial segregation, to the deeply fraught construction of the Medupi power station in postapartheid South Africa. The Medupi power station was planned toward the end of the first decade of the twenty-first century as a measure to alleviate the country’s electricity shortage, but the continued delay of its completion and the escalation of its costs meant that it failed to realize those ambitions while public frustration and electricity outages grew. By tracing this story, this book highlights the importance of technology to our understanding of South African history. This characterization challenges the idea that the technological state corporations were proxies for the apartheid government and highlights that their activities in the Waterberg did not necessarily accord with the government’s strategic purposes. While a part of the broader national modernization project under apartheid, they also set the stage for worker solidarity and trade union organization in the Waterberg and elsewhere in the country. This book also argues that the state corporations, their technology, and their engineers enjoyed ambivalent relationships with the governments of their time, relationships that can be characterized as both autonomous and immersive. In the era of democracy, while Eskom has been caught up in government corruption—a major scourge to the fortunes of South Africa—it has also retained a degree of organizational autonomy and offered a degree of resistance to those who sought to further corruption. The examination of the workings of these technological systems, and the state corporations responsible for them, complicates conventional understandings of the transition from the authoritarian rule of apartheid to democratic South Africa, which coincided with the transition from state-led development to neoliberalism. This book is an indispensable case study on the workings of industrial and political power in Africa and beyond.

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Applied General Equilibrium and Economic Development

Present Achievements and Future Trends

Jean Mercenier and T. N. Srinivasan, Editors

University of Michigan Press, 1994

Presents sophisticated applied analyses of issues in development economics

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Arab American Public History

Edited by Edward E. Curtis IV

Temple University Press, 2026

How have public history projects celebrated Arab American life and culture and countered anti-Arab bias and discrimination? The editor and contributors to Arab American Public History show how this vibrant community creates their own narratives through writing, blogging, curating, collaborating, and broadcasting. They also consider how the larger social and political contexts affect their work and offer self-reflection.

Arab American Public History is an invitation to engage more deeply with Arab American communities. Chapters examine Arab Americans’ origins, ethnic identities, and efforts to belong in America through case studies of the community’s food cultures, genealogy research, cultural production, and neighborhood enclaves.

The first formal study of Arab American public history, this exciting volume charts various ways Arab Americans have interpreted their past as a source of defiant humanity, cultural enfranchisement, social solidarity, and political power.

Contributors: Reem Awad-Rashmawi, Chloe Bordewich, Richard M. Breaux, Maria F. Curtis, Lydia Harrington, Randa A. Kayyali, Matthew Jaber Stiffler, Rebecca K. Shrum, and the editor

In the series History and the Public

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Are Predatory Commitments Credible?

Who Should the Courts Believe?

John R. Lott, Jr.

University of Chicago Press, 1999

Predatory pricing has long been a contentious issue among lawmakers and economists. Legal actions are continually brought against companies. But the question remains: how likely are firms to cut prices in order to drive rivals out of business? Predatory firms risk having to keep prices below cost for such an extended period that it would become cost-prohibitive. Recently, economists have turned to game theory to examine circumstances under which predatory tactics could be profitable.

John R. Lott, Jr. provides long-awaited empirical analysis in this book. By examining firms accused of or convicted of predation over a thirty-year period of time, he shows that these firms are not organized as the game-theoretic or other models of predation would predict. In contrast, what evidence exists for predation suggests that government enterprises are more of a threat.

Lott presents crucial new data and analysis, attacking an issue of major legal and economic importance. This impressive work will be of great interest to economists, legal scholars, and antitrust policy makers.

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Are Worker Rights Human Rights?

Richard P. McIntyre

University of Michigan Press, 2008

"In a much-needed intervention, Ric McIntyre recasts the debate about globalization and labor rights and speeds us to the heart of the matter: the battle between transnational corporations who distance themselves from responsibility for the fate of workers, and labor activists who seek to reestablish bonds of accountability and moral obligation. The stakes in this struggle are enormous, and Dr. McIntyre provides crucial insight into the economic and political dynamics that define it."
---Scott Nova, Executive Director, Worker Rights Consortium, Washington, DC

"This book presents an insightful, powerful corrective to the contemporary debate over worker rights. McIntyre identifies the limitations of thinking of worker rights as individualized human rights and challenges us instead to examine how rights are defined through conventional thinking and class interest. The product is rich and compelling: McIntyre's investigation demands of us that we be far more attentive to the contradictory effects of ‘rights talk.' I recommend this book enthusiastically to all those who advocate for a just economic order the world over."
---George DeMartino, Associate Professor of Political Economy, the Josef Korbel School of International Studies, University of Denver

"An important contribution to the interdisciplinary study of labor. McIntyre's book will challenge the debate over labor rights on all fronts."
---Michael Hillard, Professor of Economics, University of Southern Maine

"A timely examination of our modern 'sweating system' . . . essential reading for all workers who hope for greater dignity in the workplace and greater fairness in society."
---Janet Knoedler, Associate Professor of Economics, Bucknell University

"Ric McIntyre convincingly shows how local actions, regulations changes, and international norms can combine to establish collective rights for workers."
---Gilles Raveaud, Assistant Professor in Economics, University of Saint-Denis, France, and cofounder of the "post-autistic economics movement"

"An important, timely, and needed contribution to our understanding of worker rights."
---Patrick McHugh, Associate Professor of Management, George Washington University

"Workers of the world, unite!" Karl Marx's famous call to action still promises an effective means of winning human rights in the modern global economy, according to economist Richard P. McIntyre. Currently, the human rights movement insists upon a person's right to life, freedom, and material necessities. In democratic, industrial nations such as the United States, the movement focuses more specifically on a person's civil rights and equal opportunity.

The movement's victories since WWII have come at a cost, however. The emphasis on individual rights erodes collective rights---the rights that disadvantaged peoples need to assert their most basic human rights. This is particularly true for workers, McIntyre argues. By reintroducing Marxian and Institutional analysis, he reveals the class relations and power structures that determine the position of workers in the global economy. The best hope for achieving workers' rights, he concludes, lies in grassroots labor organizations that claim the right of association and collective bargaining.

At last, an economist offers a vision for human rights that takes both moral questions and class relations seriously.

Richard P. McIntyre is Director of the University Honors Program and Professor of Economics at the University of Rhode Island.

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Arise

Power, Strategy and Union Resurgence

Jane Holgate

Pluto Press, 2021

'Jane Holgate is a brilliant thinker' - Jane McAlevey

In Arise, Jane Holgate argues that unions must revisit their understanding of power in order to regain influence and confront capital. Drawing on two decades of research and organizing experience, Holgate examines the structural inertia of today’s unions from a range of perspectives: from strategic choice, leadership and union democracy to politics, tactics and the agency afforded to rank-and-file members.

In the midst of a neoliberal era of economic crisis and political upheaval, the labor movement stands at a crossroads. Union membership is on the rise, but the ‘turn to organizing’ has largely failed to translate into meaningful gains for workers. There is considerable discussion about the lack of collectivism among workers due to casualization, gig work and precarity, yet these conditions were standard in the UK when workers built the foundations of the 19th-century trade union movement.

Drawing on history and case studies of unions developing and using power effectively, this book offers strategies for moving beyond the pessimism that prevails in much of today’s union movement. By placing power analysis back at the heart of workers’ struggle, Holgate shows us that transformational change is not only possible, but within reach.

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Arise

Power, Strategy and Union Resurgence

Jane Holgate

Pluto Press, 2021

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Arms and Innovation

Entrepreneurship and Alliances in the Twenty-First Century Defense Industry

James Hasik

University of Chicago Press, 2008

With many of the most important new military systems of the past decade produced by small firms that won competitive government contracts, defense-industry consultant James Hasik argues in Arms and Innovation that small firms have a number of advantages relative to their bigger competitors. Such firms are marked by an entrepreneurial spirit and fewer bureaucratic obstacles, and thus can both be more responsive to changes in the environment and more strategic in their planning. This is demonstrated, Hasik shows, by such innovation in military technologies as those that protect troops from roadside bombs in Iraq and the Predator drones that fly over active war zones and that are crucial to our new war on terror.

For all their advantages, small firms also face significant challenges in access to capital and customers. To overcome such problems, they can form alliances either with each other or with larger companies. Hasik traces the trade-offs of such alliances and provides crucial insight into their promises and pitfalls.

This ground-breaking study is a significant contribution to understanding both entrepreneurship and alliances, two crucial factors in business generally. It will be of interest to readers in the defense sector as well as the wider business community.

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Art Management

Entrepreneurial Style

Giep Hagoort

Eburon Academic Publishers, 2003

Much has been written about how to successfully manage commercial businesses, but the literature on managing cultural organizations is comparatively scarce. In this unique book, Giep Hagoort draws on more than fifteen years experience at the Utrecht School of the Arts to help students, teachers, artists, and managers apply management theory to the creation of successful cultural institutions. Utilizing case histories and practical exercises, this book teaches skills for building effective institutions of cultural production and preservation.

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Art and the Market

Roger Fry on Commerce in Art, Selected Writings, Edited with an Interpretation

Craufurd D. Goodwin

University of Michigan Press, 1998

Roger Fry, a core member of the Bloomsbury Group, was involved with all aspects of the art market as artist, critic, curator, historian, journalist, advisor to collectors, and gallery operator. He is especially remembered as the person who introduced postimpressionist art to Britain.

Reprinted in this volume are seventeen of Fry's works on commerce in art. Although he had no formal training in economics, Fry addressed the art market as a modern economist might do. It is therefore fitting that his writings receive here an original interpretation from the perspective of a modern economist, Craufurd D. Goodwin. Goodwin explores why Fry's work is both a landmark in the history of cross-disciplinary thought and a source of fresh insights into a wide range of current policy questions.

The new writings included contain Fry's most important contributions to theory, history, and debates over policy as he explored the determinants of the supply of art, the demand for art, and the art market institutions that facilitate exchange. His ideas and speculations are as stimulating and provocative today as when they were written.

"A fascinating selection of essays by one of the twentieth century's most thoughtful and stimulating critics. Goodwin's introduction sets the stage beautifully, providing useful links to Veblen and Keynes." --D. E. Moggridge, University of Toronto

"Art and the Market uncovers new connections between aesthetics and art in the Bloomsbury Group. . . . Goodwin adds significantly to the understanding of cultural economics in the work of Fry himself as well as J. M. Keynes and even Leonard and Virginia Woolf." --S. P. Rosenbaum, University of Toronto

"All those interested in the arts and economics, and their connections, will be delighted by this collection, as will be students of Bloomsbury." --Peter Stansky, Stanford University

Craufurd D. Goodwin is James B. Duke Professor of Economics, Duke University.

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Artivate 11.3

Adrienne Callander

University of Arkansas Press, 2024

In this special edition of Artivate built around the expanded field of arts entrepreneurship, guest editors Adrienne Callander and Johanna K. Taylor collect scholars’ research on ideas they see as both central and pivotal in driving the field forward. In a futurecasting glossary, past, present, and future Artivate editors gather their thinking around such ideas, exploring where and how arts entrepreneurship currently happens beyond expected models. The three articles contained in this issue explore arts entrepreneurship’s overlaps from policy to activism to philanthropy through new adaptable organizational modeling. Starting with an in-depth analysis of hybrid practice as a mode of institutional entrepreneurship, the conversation turns to a view on artist activism as a form of arts entrepreneurship, followed by a case study of the Maniobra program of cultural employment supporting artists. To culminate in this issue’s galleries, an artist showcase profiles participating artists in the Maniobra program.

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As if the Future Mattered

Translating Social and Economic Theory into Human Behavior

Neva R. Goodwin, Editor

University of Michigan Press, 1996

There has never been a better time to explore the ways in which values relating to the future can be preserved and nurtured despite contemporary capitalism's tendency toward shortsighted selfishness. Prevailing beliefs in the 1980s were especially permissive regarding notions of individualism. While the concern for the future displayed by human beings throughout history may not be less today than at other times, a wide variance persists in how individuals, firms, and other institutions indicate concern for the future -- some act as though only concerned about tomorrow, others as though concerned for perpetuity. Thus it is especially relevant now to inquire what can be done, through changes in institutional arrangements or fashions of thought and perception, to encourage future-regarding tendencies.These themes are explored in twelve previously unpublished essays by people ranging from the well-known business analyst, Michael Porter, and the past President of the World Bank, Robert McNamara, to Zbigniew Bochniarz, a leading architect of "green plans" in East Central Europe since the fall of the Berlin Wall, and Lisa Gravitz, the President of Co-op America, an organization that assists U.S. businesses adopting socially responsible rules and behaviors. Other contributors include a lawyer, sociologist, political scientist, businessman-turned-foundation director, and three economists.The volume will be of interest to businesspeople, economists, environmentalists, political scientists, and ethicists.

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Asking About Prices

A New Approach to Understanding Price Stickiness

Alan Blinder

Russell Sage Foundation, 1998

Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.

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Assessing the Value of Law in Transition Economies

Peter Murrell, Editor

University of Michigan Press, 2001

Does law play a role in the economies that are moving from Soviet-style socialism to market capitalism? The essays in this book examine that question, providing a vivid picture of how the new institutions of capitalism affect the lives of business people, legal practitioners, investors, and bureaucrats. They analyze the determinants of successful institutional reform, suggesting that law can influence economic behavior even in inhospitable environments. Contributors--including economists, political scientists, and legal and business scholars--examine the pathways through which legal and institutional reforms affect behavior and identify the circumstances under which such reforms add value. They ask: What are the microeconomic mechanisms by which law contributes to the activities of economic agents? How do the characteristics of economic agents affect their ability to use the law? Which spheres of the economy are most affected by institutional reforms and where does law fail? What are the preconditions for effective legal and institutional reforms? Which types of political processes produce a workable system of economic legislation? The focus throughout is on the analysis of the individual economic agent who is subject to the new institutions, and thus the decisions of the individual actor, the shopkeeper, the lawyer, the court, the legislator-politician, the enterprise, the bureaucrat, the regulatory authority, and the outside investor. There are lessons on research methodology, on the economic role of institutions, and on the practice of institutional development. The focus is on the transition economies, but the conclusions and methodologies are pertinent when understanding the role of law in any context. The book will be important reading for scholars and practitioners with a wide range of interests and in a wide range of disciplines and of interest to all those concerned with economic, legal, and institutional development, economists, political scientists, lawyers, and development specialists alike.

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Asset Accumulation and Economic Activity

Reflections on Contemporary Macroeconomic Theory

James Tobin

University of Chicago Press, 1982

In this work James Tobin discusses two major issues of macroeconomics: the strength of automatic market forces in maintaining full employment equilibrium and the efficacy of government fiscal and monetary policies in stabilizing the economy.

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Asset Prices and Monetary Policy

Edited by John Y. Campbell

University of Chicago Press, 2008

Economic growth, low inflation, and financial stability are among the most important goals of policy makers, and central banks such as the Federal Reserve are key institutions for achieving these goals. In Asset Prices and Monetary Policy, leading scholars and practitioners probe the interaction of central banks, asset markets, and the general economy to forge a new understanding of the challenges facing policy makers as they manage an increasingly complex economic system.

The contributors examine how central bankers determine their policy prescriptions with reference to the fluctuating housing market, the balance of debt and credit, changing beliefs of investors, the level of commodity prices, and other factors. At a time when the public has never been more involved in stocks, retirement funds, and real estate investment, this insightful book will be useful to all those concerned with the current state of the economy.

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Assets for the Poor

The Benefits of Spreading Asset Ownership

Thomas M. Shapiro

Russell Sage Foundation, 2001

Over the past three decades, average household wealth in the United States has declined among all but the richest families, with a near 80 percent drop among the nation's poorest families. Although the national debate about inequality has focused on income, it is wealth—the private assets amassed and passed on within families—that provides the extra economic cushion needed to move beyond mere day-to-day survival. Assets for the Poor is the first full-scale investigation into the importance of family wealth and the need for policies to encourage asset-building among the poor. Assets for the Poor shows how institutional mechanisms designed to encourage acquisition of capital and property favor middle-class and high-income families. For example, the aggregate value of home mortgage tax deductions far outweighs the dollar amount of the subsidies provided by Section 8 rental vouchers and public housing. Banking definitions of creditworthiness largely exclude minorities, and welfare rules have made it nearly impossible for single mothers to accumulate savings, let alone stocks or real estate. Due to persistent residential segregation, even those minority families who do own homes are often denied equal access to better schools and public services. The research in this volume shows that the poor do make use of the assets they have. Cash gifts—although small in size—are frequent within families and often lead to such positive results as homebuying and debt reduction, while tangible assets such as tools and cars help increase employment prospects. Assets for the Poor examines policies such as Individual Development Account tax subsidies to reward financial savings among the poor, and more liberal credit rules to make borrowing easier and less costly. The contributors also offer thoughtful advice for bringing the poor into mainstream savings institutions and warn against developing asset building policies at the expense of existing safety net programs. Asset-building for low-income families is a powerful idea that offers hope to families searching for a way out of poverty. Assets for the Poor challenges current thinking regarding poverty reduction policies and proposes a major shift in the way we think about families and how they make a better life. A Volume in the Ford Foundation Series on Asset Building

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Asymmetric Information, Corporate Finance, and Investment

Edited by R. Glenn Hubbard

University of Chicago Press, 1990

In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.

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At Home and Abroad

U.S. Labor Market Performance in International Perspective

Francine D. Blau

Russell Sage Foundation, 2002

Throughout the latter part of the 20th century, the U.S. labor market performed differently than the labor markets of the world's other advanced industrialized societies. In the early 1970s, the United States had higher unemployment rates than its Western European counterparts. But after two oil crises, rapid technological change, and globalization rocked the world's economies, unemployment fell in the United States, while increasing dramatically in other nations. At the same time, wage inequality widened more in the United States than in Europe. In At Home and Abroad, Cornell University economists Francine D. Blau and Lawrence M. Kahn examine the reasons for these striking dissimilarities between the United States and its economic allies. Comparing countries, the authors find that governments and unions play a far greater role in the labor market in Europe than they do in the United States. It is much more difficult to lay off workers in Europe than in the United States, unemployment insurance is more generous in Europe, and many fewer Americans than Europeans are covered by collective bargaining agreements. Interventionist labor market institutions in Europe compress wages, thus contributing to the lower levels of wage inequality in the European Union than in the United States. Using a unique blend of microeconomic and microeconomic analyses, the authors assess how these differences affect wage and unemployment levels. In a lucid narrative, they present ample evidence that, as upheavals shook the global economy, the flexible U.S. market let wages adjust so that jobs could be maintained, while more rigid European economies maintained wages at the cost of losing jobs. By helping readers understand the relationship between different economic responses and outcomes, At Home and Abroad makes an invaluable contribution to the continuing debate about the role institutions can and should play in creating jobs and maintaining living standards.

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At the Altar of the Bottom Line

The Degradation of Work in the 21st Century

Thomas Juravich

University of Massachusetts Press, 2009

Tom Juravich combines oral history with social and economic analysis to provide a vivid account of the multiple challenges presented in today's workplaces.

Based on extensive interviews with workers in four different industries, this book takes us behind the statistics of the economic collapse and into the lives of Americans who are struggling to make ends meet and support their families.

At a Verizon call center in Andover, Massachusetts, customer service reps find themselves overwhelmed by the pace of work and the constant monitoring. They describe a daily routine marked by regimentation, intense pressure to sell, and unrelenting stress. In New Bedford, undocumented Guatemalans in the fish-processing industry are fired if they don't work fast enough, cheated out of wages, and mistreated by supervisors. Juravich describes a brutal immigration raid by U.S. Immigration and Customs Enforcement that divided families and forced workers further underground.

Juravich then takes us inside the operating rooms at the Boston Medical Center, where hospital consolidation has brought a new “bottom line” philosophy that has fundamentally altered the way patient care is delivered. Surgery takes place almost non-stop, driving some nurses from their chosen profession and leaving those who remain exhausted.

The final case study looks at the shuttering of the Jones Beloit plant, an internationally known manufacturer of machinery for the paper industry. Despite the best efforts of highly skilled and productive workers to save their plant, it was abruptly closed and they were abandoned after their CEO recklessly became involved in a shaky foreign investment.

Juravich argues that workers face a series of paradoxes in the contemporary American workplace. They can no longer assume that large established firms create good jobs. The new working conditions often resemble what was traditionally associated with marginal and low-wage employers. He concludes that we must bring a discussion about the quality of jobs back into the public discourse and that a “good jobs” strategy is a fundamental building block to economic recovery.

Workers' voices are front and center in this highly readable book. It includes striking photographs by Paul Shoul and a CD that presents a series of audio documentaries with excerpts from the interviews, as well as four original songs written and performed by Juravich.

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