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Comment expliquer et prévoir l’instabilité qui caractérise le développement des systèmes économiques ? Comment appréhender les « marchés sauvages » qui constituent notre réalité actuelle ? Dès les années 1960, Hyman Minsky développe une théorie consacrée à l’instabilité des systèmes. Il démontre que le krach financier est un phénomène intervenant régulièrement, qui n’est dû ni à des causes externes, ni à des erreurs d’appréciation : C’est la logique des marchés financiers elle-même, bien plus que des secousses issues de la périphérie du système, qui serait à l’origine des crises. En présentant le texte central de la théorie économique d’Hyman P. Minsky, L’hypothèse d’instabilité financière offre au lecteur une première approche passionnante de cette œuvre dense, fondamentale et jusqu’à présent méconnue en France.

Sharp decreases in union membership over the last fifty years have caused many to dismiss organized labor as irrelevant in today's labor market. In the private sector, only 8 percent of workers today are union members, down from 24 percent as recently as 1973. Yet developments in Southern California—including the successful Justice for Janitors campaign—suggest that reports of organized labor's demise may have been exaggerated. In L.A. Story, sociologist and labor expert Ruth Milkman explains how Los Angeles, once known as a company town hostile to labor, became a hotbed for unionism, and how immigrant service workers emerged as the unlikely leaders in the battle for workers' rights. L.A. Story shatters many of the myths of modern labor with a close look at workers in four industries in Los Angeles: building maintenance, trucking, construction, and garment production. Though many blame deunionization and deteriorating working conditions on immigrants, Milkman shows that this conventional wisdom is wrong. Her analysis reveals that worsening work environments preceded the influx of foreign-born workers, who filled the positions only after native-born workers fled these suddenly undesirable jobs. Ironically, L.A. Story shows that immigrant workers, who many union leaders feared were incapable of being organized because of language constraints and fear of deportation, instead proved highly responsive to organizing efforts. As Milkman demonstrates, these mostly Latino workers came to their service jobs in the United States with a more group-oriented mentality than the American workers they replaced. Some also drew on experience in their native countries with labor and political struggles. This stock of fresh minds and new ideas, along with a physical distance from the east-coast centers of labor's old guard, made Los Angeles the center of a burgeoning workers' rights movement. Los Angeles' recent labor history highlights some of the key ingredients of the labor movement's resurgence—new leadership, latitude to experiment with organizing techniques, and a willingness to embrace both top-down and bottom-up strategies. L.A. Story's clear and thorough assessment of these developments points to an alternative, high-road national economic agenda that could provide workers with a way out of poverty and into the middle class.

This volume, the fourth to result from a remarkably productive collaboration between the National Bureau of Economic Research and the Japan Center for Economic Research, presents a selection of thirteen high-caliber papers addressing issues in the employment practices, labor markets, and health, benefit, and pension policies of the United States and Japan.

After an opening chapter assessing the recent ascendance of the U.S. economy, papers diverge to tackle a range of specific issues. Focusing less on international comparison than on the assembly of high-quality research, contributors hone in on a variety of individual topics. Chapters delve into issues of youth employment, participatory employment, information sharing, fringe benefits, and drug coverage in Japan, as well as the dynamics of medical savings accounts, private insurance coverage, and benefit options in the U.S.

Like previous volumes stemming from NBER/JCER collaboration, this book represents a valuable mass of empirical data on some of the most notable employment and benefits issues in each nation, information that will both anchor and provoke scholarly analysis of these topics well into the future.

In this textbook designed for courses on aviation labor relations, the authors-experts with many years of experience in these sectors-examine and evaluate the labor process for all aspects of the aviation and aerospace industries, including aerospace manufacturing, airlines, general aviation, federal and state administrative agencies, and public airports.

Divided into three parts-Public Policy and Labor Law; Principles, Practices and Procedures in Collective Bargaining and Dispute Resolution; and the Changing Labor Relations Environment-the book provides an overview of the industries and the development of US labor law and policy, then explores the statutory, regulatory, and case laws applicable to each industry segment before concluding with an examination of current and developing issues and trends. The authors present the evolution of aviation and aerospace labor laws, going as far back as the early nineteenth century to lay the historical foundation, and cover the development and main features of the principal statutes governing labor relations in the United States today, the Railway Labor Act, the National Labor Relations Act, and the Civil Service Reform Act. They also investigate the growth of the industries and their impact on labor relations, as well as the current issues and challenges facing management and labor in each segment of this dynamic, sometimes volatile, business and their implications for collective bargaining. Twenty case studies not only illuminate practical applications of such fundamental concepts as unfair labor practices and unions' duty of fair representation but also enliven the subject, preparing the reader to use the concepts in real-world decision making. 

A study guide with review questions, online assignments, supplemental readings, and exercises is available for students. For those teachers using the textbook in their courses, there is an instructor's manual with additional resources for developing courses in the classroom, online, or by blended learning, as well as a variety of assignments and materials to enhance and vary the mock negotiation exercise. 

A revision and expansion of Robert W. Kaps's Air Transport Labor Relations, this outstanding new volume provides students and teachers with valuable information and perspectives on industries that are highly dependent on technologically skilled labor. Labor Relations in the Aviation and Aerospace Industries offers a sweeping and thorough treatment of labor relations, public policy, law, and practice and is the definitive work on the labor process in the aviation and aerospace sectors.

Rapidly changing technology, the globalization of markets, and the declining role of unions are just some of the factors that have led to dramatic changes in working conditions in the United States. Little attention has been paid to the difficult measurement problems underlying analysis of the labor market. Labor Statistics Measurement Issues helps to fill this gap by exploring key theoretical and practical issues in the measurement of employment, wages, and workplace practices.

Some of the chapters in this volume explore the conceptual issues of what is needed, what is known, or what can be learned from existing data, and what needs have not been met by available data sources. Others make innovative uses of existing data to analyze these topics. Also included are papers examining how answers to important questions are affected by alternative measures used and how these can be reconciled. This important and useful book will find a large audience among labor economists and consumers of labor statistics.

The emergence, maturity, and decline of the southern California citrus industry is seen here through the network of citrus worker villages that dotted part of the state's landscape from 1910 to 1960.  Labor and Community shows how Mexican immigrants shaped a partially independent existence within a fiercely hierarchical framework of economic and political relationships. González relies on a variety of published sources and interviews with longtime residents to detail the education of village children; the Americanization of village adults; unionization and strikes; and the decline of the citrus picker village and rise of the urban barrio. His insightful study of the rural dimensions of Mexican-American life prior to World War II adds balance to a long-standing urban bias in Chicano historiography.
 

Conceived as a prologue to the 1930s industrial-union triumph in steel, Labor in Crisis explains the failure of unionization before the New Deal era and the reasons for mass-production unionism's eventual success.
Widely regarded as a failure, the great 1919 steel strike had both immediate and far-reaching consequences that are important to the history of American labor. It helped end the twelve-hour day, dramatized the issues of the rights to organize and to engage in collective bargaining, and forwarded progress toward the passage of the Wagner Act, which, in turn, helped trigger John L. Lewis's decision to launch the CIO.
 

In this, the first broad historical overview of labor in the United States in twenty years, Philip Nicholson examines anew the questions, the villains, the heroes, and the issues of work in America. Unlike recent books that have covered labor in the twentieth century, Labor's Story in the United States looks at the broad landscape of labor since before the Revolution. In clear, unpretentious language, Philip Yale Nicholson considers American labor history from the perspective of institutions and people: the rise of unions, the struggles over slavery, wages, and child labor, public and private responses to union organizing. Throughout, the book focuses on the integral relationship between the strength of labor and the growth of democracy, painting a vivid picture of the strength of labor movements and how they helped make the United States what it is today. Labor's Story in the United States will become an indispensable source for scholars and students.

The movement for a shorter workweek that once defined the labor movement in the United States was largely displaced by the new corporatist structure of organized labor in the post-New Deal era. Labor's Time examines the changes that occurred within organized labor and traces their influence on the decline of the shorter hours movement. Focusing on the internal union politics of the influential United Automobile Workers and Local 600, its chapter at Henry Ford's massive River Rouge factory, Jonathan Cutler demonstrates how an all-but-forgotten interracial movement for a shorter workweek during the 1950s and 1960s became a casualty of an increasingly top-heavy union bureaucracy that lost touch with the desires, fears, and aspirations of rank and file workers and dug its own grave in the process. Jonathan Cutler examines the political context in which the shorter hours movement emerged within Local 600 in the 1940s, then chronicles the attempts by Walter Reuther, the head of the UAW, to suppress it. Cutler also reviews the role the Communist Party played in the controversy. Finally, he documents the UAW response to rank and file pressure for a shorter workweek, and how the local's own organizational flaws allowed Reuther and the national union to wrest control from the dissidents. Fresh and boldly written, Labor's Time recreates a moment when unions—as a movement, not as an amalgam of leaders—could have transformed the landscape of work in the United States.

A classic piece of Old Left scholarship made available to a new generation of students and activists

Bernard Mandel's classic study provides a concise overview of the relationship between organized abolitionism and the fledgling labor movement in the period before the Civil War. Mandel argues that slavery reinforced the powerlessness of white workers North and South, and the racial divisions that it upheld rendered effective labor solidarity impossible. Deep distrust between abolitionists and the working classes, however, compelled Northern workers to find their own way into the antislavery ranks.

As the distribution of wealth between rich and poor in the United States grew more and more unequal over the past twenty years, this economic gap assumed a life of its own in the popular culture. The news and entertainment media increasingly portrayed the lives of the poor with such stereotypes as the lazy welfare mother and the thuggish teen, offering Americans few ways to learn how the "other half" really lives. Laboring Below the Line works to bridge this gap by synthesizing a wide range of qualitative scholarship on the working poor. The result is a coherent, nuanced portrait of how life is lived below the poverty line, and a compelling analysis of the systemic forces in which poverty is embedded, and through which it is perpetuated. Laboring Below the Line explores the role of interpretive research in understanding the causes and effects of poverty. Drawing on perspectives of the working poor, welfare recipients, and marginally employed men and women, the contributors—an interdisciplinary roster of ethnographers, oral historians, qualitative sociologists, and narrative analysts—dissect the life circumstances that affect the personal outlook, ability to work, and expectations for the future of these people. For example, Carol Stack views the work aspirations of an Oakland teenager for whom a job is important, even though it strains her academic performance. And Ruth Buchanan looks at low-wage telemarketing workers who are attempting to move up the economic ladder while balancing family, education, and other important commitments. What emerges is a compelling picture of low-wage workers—one that illustrates the precarious circumstances of individuals struggling with the economic conditions and institutions that surround them Each chapter also explores the capacity for economic survival from a different angle, with ancillary commentary complementing the ethnographies with perspectives from other fields of study, such as economics. At this moment of governmental retrenchment, ethnography's complex, nonstereotypical portraits of individual people fighting against poverty are especially important. Laboring Below the Line reveals the ambiguities of real lives, the potential for individuals to change in unexpected ways, and the even greater intricacy of the collective life of a community.

How do unions around the world respond to issues raised by sexual minorities? Much as been written on labor's response to issues raised by women and racial minorities, but there has been little work done on labor's engagement with gays, lesbians, bisexuals, and the transgendered. The original essays in this collection attempt to fill that void by bringing together a group of experts who examine labor's response to such issues as benefits for same-sex partners, anti-discrimination language in collective agreements, and education. Speaking from a variety of racial backgrounds, sexual orientations, and political views, the contributors bring their unique personal perspectives and scholarly approaches to this groundbreaking book.

The chapters included in Laboring for Rights give a global vision to the increasingly important subject of equity in the workplace. They offer a much-needed look at labor's involvement with current international workplace conditions from such diverse countries as the United States, Canada, Australia, Germany, Britain, France, the Netherlands, and South Africa, as well as parts of the South Pacific. Some of these countries have strong and progressive labor unions; some, like the U.S., have relatively weak labor organizations. But whatever the context, as these articles demonstrate, there seems to be a growing and in some instances prospering gay/lesbian labor alliance in many parts of the world.

Laboring for Rights is a pioneering text in an important new area of labor study. It will engage readers interested in equality in the workplace, labor and organizational studies, gay and lesbian activism, and international, comparative studies.

"The image of a pristine isolation has been almost as common in research on foragers as in the popular media. Land filled with Flies is a sustanined argument against such views. Wilmsen marshals an enormous quantity of historical, archival, archeological, ethnographic, and survey data on the Kalahari Zhu to show how far from the reality these images are, how they have their own historical provenance, how they have been analytically distorting, and how they have proven politically pernicious for living groups like the Zhu."—Pauline Peters, Science

"[A] major work. . . . Anthropologists will, and should, use Wilmsen's meticulously detailed study to revise their early lectures in the introductory course, and no future study of African 'foragers' should ignore it."—Parker Shipton, American Anthropologist

"An impressive book. . . . The reader need only read the first few pages to judge both the quality and ambitiousness of the work. . . . Essential reading."—David R. Penna, Africa Today

Alarming environmental degradation makes ever more urgent the reconciliation of political economy and sustainability. Land and the Given Economy examines how the landed basis of human existence converges with economics, and it offers a persuasive new conception of land that transcends the flawed and inadequate accounts in classical and neoclassical economics.

Todd S. Mei grounds this work in a rigorous review of problematic economic conceptions of land in the work of John Locke, Adam Smith, David Ricardo, John Stuart Mill, Karl Marx, Henry George, Alfred Marshall, and Thorstein Veblen.

Mei then draws on the thought of Martin Heidegger to posit a philosophical clarification of the meaning of land—its ontological nature. He argues that central to rethinking land is recognizing its unique manner of being, described as its "givenness." Concluding with a discussion of ground rent, Mei reflects on specific strategies for incorporating the philosophical account of land into contemporary economic policies.

Revivifying economic frameworks that fail to resolve the impasse between economic development and sustainability, Land and the Given Economy offers much of interest to scholars and readers of philosophy, environmentalism, and the full spectrum of political economy.

Half of Indonesia’s massive population still lives on farms, and for these tens of millions of people the revolutionary promise of land reform remains largely unfulfilled. The Basic Agrarian Law, enacted in the wake of the Indonesian revolution, was supposed to provide access to land and equitable returns for peasant farmers. But fifty years later, the law’s objectives of social justice have not been achieved.

Land for the People provides a comprehensive look at land conflict and agrarian reform throughout Indonesia’s recent history, from the roots of land conflicts in the prerevolutionary period and the Sukarno and Suharto regimes, to the present day, in which democratization is creating new contexts for people’s claims to the land. Drawing on studies from across Indonesia’s diverse landscape, the contributors examine some of the most significant issues and events affecting land rights, including shifts in policy from the early postrevolutionary period to the New Order; the Land Administration Project that formed the core of land policy during the late New Order period; a long-running and representative dispute over a golf course in West Java that pitted numerous local farmers against the government and local elites; Suharto’s notorious “million hectare” project that resulted in loss of access to land and resources for numerous indigenous farmers in Kalimantan; and the struggle by Bandung’s urban poor to be treated equitably in the context of commercial land development. Together, these essays provide a critical resource for understanding one of Indonesia’s most pressing and most influential issues.

Contributors: Afrizal, Dianto Bachriadi, Anton Lucas, John McCarthy, John Mansford Prior, Gustaaf Reerink, Carol Warren, and Gunawan Wiradi.

Owing to Yucatan’s relative isolation, many assume that the history and economy of the peninsula have evolved in a distinctive way, apart from the central government in Mexico City and insulated from world social and economic factors. The essays in this volume suggest that this has not been the case: the process of development in Yucatan has been linked firmly to national and global forces of change over the past two centuries. The essays are by U.S., Mexican, Canadian, and Belizean social scientists representing both well-established and younger scholars. The result is a perspective on Yucatan’s historical development that is at once international, interdisciplinary, and intergenerational.

Over the past few decades, India has experienced a sudden and spectacular urban transformation. Gleaming business complexes encroach on fields and villages. Giant condominium communities offer gated security, indoor gyms, and pristine pools. Spacious, air-conditioned malls have sprung up alongside open-air markets.
 
In Landscapes of Accumulation, Llerena Guiu Searle examines India’s booming developments and offers a nuanced ethnographic treatment of late capitalism. India’s land, she shows, is rapidly transforming from a site of agricultural and industrial production to an international financial resource. Drawing on intensive fieldwork with investors, developers, real estate agents, and others, Searle documents the new private sector partnerships and practices that are transforming India’s built environment, as well as widely shared stories of growth and development that themselves create self-fulfilling prophecies of success. As a result, India’s cities are becoming ever more inaccessible to the country’s poor. Landscapes of Accumulation will be a welcome contribution to the international study of neoliberalism, finance, and urban development and will be of particular interest to those studying rapid—and perhaps unsustainable—development across the Global South.

Las Vegas in Singapore looks at the collision of the histories of Singapore and Las Vegas in the form of Marina Bay Sands, one of Singapore’s two integrated resorts.

The first history begins in colonial Singapore in the 1880s, when British administrators revised gambling laws in response to the political threat posed by Chinese-run gambling syndicates. Following the tracks of these punitive laws and practices, the book moves into the 1960s when the newly independent city-state created a national lottery while criminalizing both organized and petty gambling in the name of nation-building. The second history shifts the focus to corporate Las Vegas in the 1950s when digital technology and corporate management practices found each other on the casino floor. Tracing the emergence of the specialist casino designer, the book reveals how casino development evolved into a highly rationalized spatial template designed to maximize profits. Today an iconic landmark of Singapore, Marina Bay Sands is also an artifact of these two histories, an attempt by Singapore to normalize what was once criminalized in its nationalist history.

Lee Kah-Wee argues that the historical project of the control of vice is also about the control of space and capital. The result is an uneven landscape where the legal and moral status of gambling is contingent on where it is located. As the current wave of casino expansion spreads across Asia, he warns that these developments should not be seen as liberalization but instead as a continuation of the project of concentrating power by modern states and corporations.

The bailouts during the recent financial crisis enraged the public. They felt unfair—and counterproductive: people who take risks must be allowed to fail. If we reward firms that make irresponsible investments, costing taxpayers billions of dollars, aren’t we encouraging them to continue to act irresponsibly, setting the stage for future crises? And beyond the ethics of it was the question of whether the government even had the authority to bail out failing firms like Bear Stearns and AIG.
           
The answer, according to Eric A. Posner, is no. The federal government freely and frequently violated the law with the bailouts—but it did so in the public interest. An understandable lack of sympathy toward Wall Street has obscured the fact that bailouts have happened throughout economic history and are unavoidable in any modern, market-based economy. And they’re actually good. Contrary to popular belief, the financial system cannot operate properly unless the government stands ready to bail out banks and other firms. During the recent crisis, Posner agues, the law didn’t give federal agencies sufficient power to rescue the financial system. The legal constraints were damaging, but harm was limited because the agencies—with a few exceptions—violated or improvised elaborate evasions of the law. Yet the agencies also abused their power. If illegal actions were what it took to advance the public interest, Posner argues, we ought to change the law, but we need to do so in a way that also prevents agencies from misusing their authority. In the aftermath of the crisis, confusion about what agencies did do, should have done, and were allowed to do, has prevented a clear and realistic assessment and may hamper our response to future crises.

Taking up the common objections raised by both right and left, Posner argues that future bailouts will occur. Acknowledging that inevitability, we can and must look ahead and carefully assess our policy options before we need them.

Like the majority of the founders of large philanthropic foundations in the United States, James B. Duke assumed that the Duke Endowment, which he established in 1924, would continue its charitable activity forever. Lasting Legacy to the Carolinas is an examination of the history of this foundation and the ways in which it has—and has not—followed Duke’s original design.

In this volume, Robert F. Durden explores how the propriety of linking together a tax-free foundation and an investor-owned, profit-seeking business like the Duke Power Company has significantly changed over the course of the century. Explaining the implications of the Tax Reform Act of 1969 for J. B. Duke’s dream, Durden shows how the philanthropist’s plan to have the Duke Endowment virtually own and ultimately control Duke Power (which, in turn, would supply most of the Endowment’s income) dissolved after the death of daughter Doris Duke in 1993, when the trustees of the Endowment finally had the unanimous votes needed to sever that tie. Although the Endowment’s philanthropic projects—higher education (including Duke University), hospitals and health care, orphan and child care in both North and South Carolina, and the rural Methodist church in North Carolina—continue to be served, this study explains the impact of a century of political and social change on one man’s innovative charitable intentions. It is also a testimony to the many staff members and trustees who have invested their own time and creative energies into further benefiting these causes, despite decades of inevitable challenges to the Endowment.

This third volume of Durden’s trilogy relating to the Dukes of Durham will inform not only those interested in the continuing legacy of this remarkable family but also those involved with philanthropic boards, charitable endowments, medical care, child-care institutions, the rural church, and higher education.

Hidden behind a number of economic crises in the mid- to late 1990s-including Argentina's headline-grabbing monetary and political upheaval-is that fact that Latin American economies have, generally speaking, improved dramatically in recent years. Their success has been due, in large part, to macroeconomic reforms, and this book brings together prominent economists and policymakers to assess a decade of such policy shifts, highlighting both the many success stories and the areas in which further work is needed. Contributors offer both case studies of individual countries and regional overviews, covering monetary, financial, and fiscal policy.

Contributors also work to identify future concerns and erect clear signposts for future reforms. For instance, now that inflation rates have been stabilized, one suggested "second stage" monetary reform would be to focus on reducing rates from high to low single digits. Financial sector reforms, it is suggested, should center on improving regulation and supervision. And, contributors argue, since fiscal stability has already been achieved in most countries, new fiscal reforms need to concentrate on institutionalizing fiscal discipline, improving the efficiency and equity of tax collection, and modifying institutional arrangements to deal with increasingly decentralized federal systems.

The analysis and commentary in this volume-authored not only by academic observers but by key Latin American policymakers with decades of firsthand experience-will prove important to anyone with an interest in the future of Latin American's continuing economic development and reform.

Contributors to this volume:

José Antonio González, Stanford University
Anne O. Krueger, International Monetary Fund
Vittorio Corbo, Pontifical Catholic University, Chile
Klaus Schmidt-Hebbel, Central Bank of Chile
Alejandro Werner, Bank of Mexico
Márcio G. P. Garcia, Pontifical Catholic University, Rio
Tatiana Didier, World Bank
Gustavo H. B. Franco, former president, Central Bank of Brazil
Francisco Gil Díaz, Minister of the Treasury, Mexico
Roberto Zahler, former governor, Central Bank of Chile
Ricardo J. Caballero, Massachusetts Institute of Technology
Philip L. Brock, University of Washington
Stephen Haber, Stanford University
Pablo E. Guidotti, Universidad Torcuato Di Tella, Buenos Aires
Vito Tanzi, International Monetary Fund
Enrique Dávila, Ministry of Finance, Mexico
Santiago Levy, Mexican Social Security Institute
Ricardo Fenochietto, private consultant, Buenos Aires
Rogério L. F. Werneck, Pontifical Catholic University, Rio
Carola Pessino, Universidad Torcuato di Tella, Buenos Aires
Michael Michaely, Hebrew University of Jerusalem

Latin@s' Presence in the Food Industry takes the holistic culinary approach of bringing together multidisciplinary criticism to explore the diverse, and not always readily apparent, ways that Latin@s relate to food and the food industry.

The networks Latin@s create, the types of identities they fashion through food, and their relationship to the US food industry are analyzed to understand Latin@s as active creators of food-based communities, as distinctive cultural representations, and as professionals. This vibrant new collection acknowledges issues of labor conditions, economic politics, and immigration laws—structural vulnerabilities that certainly cannot be ignored—and strives to understand more fully the active and conscious ways that Latina@s create spaces to maneuver global and local food systems.

Since the earliest days of philosophy, thinkers have debated the meaning of the term happiness and the nature of the good life. But it is only in recent years that the study of happiness—or “hedonics”—has developed into a formal field of inquiry, cutting across a broad range of disciplines and offering insights into a variety of crucial questions of law and public policy.

Law and Happinessbrings together the best and most influential thinkers in the field to explore the question of what makes up happiness—and what factors can be demonstrated to increase or decrease it. Martha Nussbaum offers an account of the way that hedonics can productively be applied to psychology, Cass R. Sunstein considers the unexpected relationship between happiness and health problems, Matthew Adler and Eric A. Posner view hedonics through the lens of cost-benefit analysis, David A. Weisbach considers the relationship between happiness and taxation, and Mark A. Cohen examines the role crime—and fear of crime—can play in people’s assessment of their happiness, and much more.

The result is a kaleidoscopic overview of this increasingly prominent field, offering surprising new perspectives and incisive analyses that will have profound implications on public policy.

In Law and Public Choice, Daniel Farber and Philip Frickey present a remarkably rich and accessible introduction to the driving principles of public choice. In this, the first systematic look at the implications of social choice for legal doctrine, Farber and Frickey carefully review both the empirical and theoretical literature about interest group influence and provide a nonmathematical introduction to formal models of legislative action. Ideal for course use, this volume offers a balanced and perceptive analysis and critique of an approach which, within limits, can illuminate the dynamics of government decision-making.

“Law and Public Choice is a most valuable contribution to the burgeoning literature. It
should be of great interest to lawyers, political scientists, and all others interested in issues at the intersection of government and law.”—Cass R. Sunstein, University of Chicago Law
School

Transaction costs (TC) are the “friction” in an economic system, and their analysis is vital to understanding institutional design and economic performance. Law and Transaction Costs in the Ancient Economy is the first volume to collect specific studies from a transaction cost perspective. The volume offers models of this new way of looking at ancient evidence, and suggests ways in which traditional subject areas might inform problems in contemporary economics and legal studies.

After the editors’ methodological introduction, the contributors investigate the roles and effects of transaction costs in fourth-century Athens, Ptolemaic Egypt, the Roman Empire, and late antiquity, on the basis of legal texts, papyri, and inscriptions. Collected here are some of the leading voices on TC analysis in ancient history, as well as established scholars, including several who do not usually publish in English: Alain Bresson, Giuseppe Dari-Mattiacci, Rudolf Haensch, Dennis Kehoe, François Lerouxel, J. G. Manning, Brian Muhs, Josiah Ober, David M. Ratzan, Gerhard Thür, and Uri Yiftach.

This volume will speak to those who identify with traditional subject areas, like epigraphy or Greek law, and will also demonstrate the value of experimenting with this new way of looking at ancient evidence.

 

Stewart Macaulay teaches contracts at the University of Wisconsin Law School and is interested in the part the legal system plays in implementing, regulating, and hindering economic relationships, and how it does these things. This book is a descriptive analysis of organizational change that has resulted from automobile dealers' attempts to find a legal remedy for what they consider unfair practices of the manufacturers. It advances our understanding of the limitations and the positive functions of formal rules in the regulation of human conduct, and shows how informal procedures can develop as a result of pressure for changes in the formal rules.

Since the economic reforms of the 1990s, India’s economy has grown rapidly. To sustain growth and foreign investment over the long run requires a well-developed legal infrastructure for conducting business, including cheap and reliable contract enforcement and secure property rights. But it’s widely acknowledged that India’s legal infrastructure is in urgent need of reform, plagued by problems, including slow enforcement of contracts and land laws that differ from state to state. How has this situation arisen, and what can boost business confidence and encourage long-run economic growth?
           
Tirthankar Roy and Anand V. Swamy trace the beginnings of the current Indian legal system to the years of British colonial rule. They show how India inherited an elaborate legal system from the British colonial administration, which incorporated elements from both British Common Law and indigenous institutions. In the case of property law, especially as it applied to agricultural land, indigenous laws and local political expediency were more influential in law-making than concepts borrowed from European legal theory. Conversely, with commercial law, there was considerable borrowing from Europe. In all cases, the British struggled with limited capacity to enforce their laws and an insufficient knowledge of the enormous diversity and differentiation within Indian society. A disorderly body of laws, not conducive to production and trade, evolved over time. Roy and Swamy’s careful analysis not only sheds new light on the development of legal institutions in India, but also offers insights for India and other emerging countries through a look at what fosters the types of institutions that are key to economic growth.

This volume represents the first section of F. A. Hayek's comprehensive three-part study of the relations between law and liberty. Rules and Order constructs the framework necessary for a critical analysis of prevailing theories of justice and of the conditions which a constitution securing personal liberty would have to satisfy.

F. A. Hayek made many valuable contributions to the field of economics as well as to the disciplines of philosophy and politics. This volume represents the second of Hayek's comprehensive three-part study of the relations between law and liberty. Here, Hayek expounds his conviction that he continued unexamined pursuit of "social justice" will contribute to the erosion of personal liberties and encourage the advent of totalitarianism.

Incisive, straightforward, and eloquent, this third and concluding volume of F. A. Hayek's comprehensive assessment of the basic political principles which order and sustain free societies contains the clearest and most uncompromising exposition of the political philosophy of one of the world's foremost economists.

Some describe civil litigation as little more than a drag on the economy; Others hail it as the solution to most of the country’s problems. Stephen C. Yeazell argues that both positions are wrong. Deeply embedded in our political and economic systems, civil litigation is both a system for resolving disputes and a successful business model, a fact that both its opponents and its fans do their best to conceal.

Lawsuits in a Market Economy explains how contemporary civil litigation in the United States works and how it has changed over the past century. The book corrects common misconceptions—some of which have proved remarkably durable even in the face of contrary evidence—and explores how our constitutional structure, an evolving economy, and developments in procedural rules and litigation financing systems have moved us from expecting that lawsuits end in trial and judgments to expecting that they will end in settlements. Yeazell argues that today’s system has in some ways overcome—albeit inconsistently—disparities between the rich and poor in access to civil justice. Once upon a time, might regularly triumphed over right. That is slightly less likely today—even though we continue to witness enormous disparities in wealth and power.

The book concludes with an evaluation of recent changes and their possible consequences.