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A Casebook on Corporate Renewal spans a variety of business areas relevant to corporate renewal and turnaround management. Corporate renewal, as a topic taught and discussed in business schools, has surged in the past decade. The cases in this book were selected to cover the knowledge and skills needed by successful turnaround managers, including ethical and legal issues; developing a plan of reorganization; and defining problems and their solutions, including strategic, financial, and operating issues.
 
The cases challenge students to actively engage in the decision-making process in order to learn how corporate renewal is practiced in real business settings. The Casebook is meant to accompany the second edition of Principles of Corporate Renewal by Harlan D. Platt, but it can be adopted separately or used with other management textbooks.
 

This collection celebrates the pathbreaking work in game theory and mathematics of John F. Nash Jr., winner of the 1994 Nobel Prize in Economics. Nash’s analysis of equilibria in the theory of non-cooperative games has had a major impact on modern economic theory. This book, also published as volume 81 of the Duke Mathematical Journal, includes an important, but previously unpublished paper by Nash; the proceedings of the Nobel seminar held in Stockholm on December 8, 1994 in his honor; and papers by distinguished mathematicians and economists written in response to and in honor of Nash’s pioneering contributions to those fields.

In 1950, when he was 22 years old, Nash presented his key idea—the Nash equilibrium—in the Ph.D. thesis he submitted to the Mathematics Department at Princeton University. In that paper, he defined a new concept of equilibrium and used methods from topology to prove the existence of an equilibrium point for n-person, finite, non-cooperative games, that is, for games in which the number of possible strategies are limited, no communication is allowed between the players, and n represents the number of players. The Nash equilibrium point is reached when none of the players can improve their position by changing strategies. By taking into account situations involving more than two players, specifically the general n-player game, Nash built significantly on the previous work of John Von Neumann and Oskar Morgenstern.

Contributors. Abbas Bahri, Eric A. Carlen, Ennio De Giorgi, Charles Fefferman, Srihari Govidan, John C. Harsanyi, H. Hoffer, Carlos E. Kenig, S. Klainerman, Harold F. Kuhn, Michael Loss, William F. Lucas, M. Machedon, Roger B. Myerson, Raghavan Narasimhan, John F. Nash Jr., Louis Nirenberg, Jill Pipher, Zeév Rudnick, Peter Sarnak, Michael Shub, Steve Smale, Robert Wilson, K. Wysocki, E. Zehnder

A civil society is one in which a democratic government and a market economy operate together. The idea of the civil economy--encompassing a democratic government and a market economy--presumes that people can solve social problems within the market itself. This book explores the relationship between the two, examining the civil underpinnings of capitalism and investigating the way a civil economy evolves in history and is developed for the future by careful planning.

Severyn T. Bruyn describes how people in three sectors--government, business, and the Third Sector (nonprofits and civil groups)--can develop an accountable, self-regulating, profitable, humane, and competitive system of markets that could be described as a civil economy. He examines how government officials can organize markets to reduce government costs; how local leaders deal with global corporations that would unfairly exploit their community resources; and how employees can become coparticipants in the development of human values in markets.

A Civil Economy is oriented to interdiciplinary studies of the economy, assisting scholars in diverse fields, such as business management, sociology, political science, and economics, in developing a common language to examine civic problems in the marketplace.

As an undergraduate text, it evokes a mode of thought about the development of a self-accountable system of markets. Students learn to understand how the market economy becomes socially accountable and self-reliant, while remaining productive, competitive, and profitable.

Sveryn T. Bruyn is Professor of Sociology, Boston College.

For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong.

In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families.

A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

A New Architecture for the U.S. National Accounts brings together a distinguished group of contributors to initiate the development of a comprehensive and fully integrated set of United States national accounts. The purpose of the new architecture is not only to integrate the existing systems of accounts, but also to identify gaps and inconsistencies and expand and incorporate systems of nonmarket accounts with the core system. 

Since the United States economy accounts for almost thirty percent of the world economy, it is not surprising that accounting for this huge and diverse set of economic activities requires a decentralized statistical system. This volume outlines the major assignments among institutions that include the Bureau of Economic Analysis, the Bureau of Labor Statistics, the Department of Labor, the Census Bureau, and the Governors of the Federal Reserve System. 

An important part of the motivation for the new architecture is to integrate the different components and make them consistent. This volume is the first step toward achieving that goal.

Is there life after capitalism? In this creatively argued follow-up to their book The End of Capitalism (As We Knew It), J. K. Gibson-Graham offer already existing alternatives to a global capitalist order and outline strategies for building alternative economies.

A Postcapitalist Politics reveals a prolific landscape of economic diversity—one that is not exclusively or predominantly capitalist—and examines the challenges and successes of alternative economic interventions. Gibson-Graham bring together political economy, feminist poststructuralism, and economic activism to foreground the ethical decisions, as opposed to structural imperatives, that construct economic “development” pathways. Marshalling empirical evidence from local economic projects and action research in the United States, Australia, and Asia, they produce a distinctive political imaginary with three intersecting moments: a politics of language, of the subject, and of collective action. In the face of an almost universal sense of surrender to capitalist globalization, this book demonstrates that postcapitalist subjects, economies, and communities can be fostered. The authors describe a politics of possibility that can build different economies in place and over space. They urge us to confront the forces that stand in the way of economic experimentation and to explore different ways of moving from theory to action.

J. K. Gibson-Graham is the pen name of Katherine Gibson and Julie Graham, feminist economic geographers who work, respectively, at the Australian National University in Canberra and the University of Massachusetts Amherst.

A Prosperous Way Down (2001), the last book by Howard T. and Elisabeth C. Odum, has shaped politics and planning as nations, states, and localities begin the search for ways to adapt to a future with vastly increased competition for energy.

A Prosperous Way Down considers ways in which a future with less fossil fuel could be peaceful and prosperous. Although history records the collapse of countless civilizations, some societies and ecosystems have managed to descend in orderly stages, reducing demands and selecting and saving what is most important.

The authors make recommendations for a more equitable and cooperative world society, with specific suggestions based on their evaluations of trends in global population, wealth distribution, energy sources, conservation, urban development, capitalism and international trade, information technology, and education.

Available for the first time in paperback, this thoughtful, provocative book forces us to confront assumptions about our world 's future and provides both a steadying hand and a call to action with its pragmatic analysis of a global transition.

A Telescope on Society seeks to convey the development of social science in the twentieth century through its interaction with a major new instrument for gathering data about society-survey research. The story of survey research and social science is largely told by social scientists affiliated with the Survey Research Center (SRC) and Institute for Social Research (IRS) at the University of Michigan about work done there. But the book also places this story in the broader context of survey-based social science in the United States and the world, to which many individuals and institutions beyond SRC, ISR, and Michigan have also contributed.

The chapters of this volume illustrate the impact that developments in survey research have had and continue to have on a broad range of social science disciplines and interdisciplinary areas ranging from political behavior and electoral systems to macroeconomics and individual income dynamics, mental and physical health, human development and aging, and racial/ethnic diversity and relationships.

The volume will speak to a wide audience of social science and survey research professionals and students interested in learning more about the broad history of survey-based social science and its contributions to understanding ourselves as social beings. It also seeks to convey how crucial institutional and public support are to the development of social science and survey research, as they have been to development in the natural, biomedical, and life sciences.

The five editors of this book are longtime research professors and colleagues in the Survey Research Center of the Institute for Social Research at the University of Michigan. James S. House is also Professor in the Department of Sociology; F. Thomas Juster is Professor Emeritus in the Department of Economics; Robert L. Kahn is Professor Emeritus in the Department of Psychology and Department of Health Management and Policy; and Howard Schuman is Professor Emeritus in the Department of Sociology; Eleanor Singer is Research Professor in the Survey Research Center, all at the University of Michigan. Professors House (1991-2001), Kahn (1970-76), and Schuman (1982-90) have each served as Director of the Survey Research Center; Professor Juster served (1976-86) as Director of the Institute for Social Research; and Professor Singer served (1999-2002) as Associate Director of the Survey Research Center.

The nature of work in the United States is changing dramatically, as new technologies, a global economy, and more demanding investors combine to create a far more competitive marketplace. Corporate efforts to respond to these new challenges have yielded mixed results. Headlines about instant millionaires and innovative e-businesses mingle with coverage of increasing job insecurity and record wage gaps between upper management and hourly workers. A Working Nation tracks the profound implications the changing workplace has had for all workers and shows who the real economic winners and losers have been in the past twenty-five years. A Working Nation sorts fact from fiction about the new relationship between workers and firms, and addresses several critical issues: Who are the real winners and losers in this new economy? Has the relationship between workers and firms really been transformed? How have employees become more integrated into or disconnected from corporate strategies and performance? Should government step into this new economic reality and how should it intervene? Among the topics investigated, David T. Ellwood explores and explains the apparent paradox between the steady rise in per capita national income and the stagnant wages of middle- and working-class workers. Douglas Kruse and Joseph Blasi study relative changes in long-term vs. temporary work, and evaluate the introduction of profit-sharing schemes and high performance workplace programs. William A. Niskanen and Rebecca M. Blank, both former members of the president's Council of Economic Advisers, offer their perspectives on what direction government might take to make this a working nation for everyone. Though Niskanen and Blank take alternative approaches, they both conclude that the primary policy emphasis ought to be on the problems of the least skilled more than on inequality per se, and that a focus on childhood education and tax supports for low-income working families should be of primary concern. A Working Nation paints a compelling and surprisingly consistent picture of today's workplace. While the booming economy has created millions of new jobs, it has also lead to an alarmingly unbalanced system of rewards that puts less-skilled, and many middle-class, workers at risk. This book is essential reading for those seeking the most efficient answers to the challenges and opportunities of the evolving economy.

Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly dominated by the fully rational investors that populate financial theories. These markets anomalies have spawned a new approach to finance, one which as editor Richard Thaler puts it, "entertains the possibility that some agents in the economy behave less than fully rationally some of the time." Advances in Behavioral Finance collects together twenty-one recent articles that illustrate the power of this approach. These papers demonstrate how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. To take several examples, Werner De Bondt and Thaler find an explanation for superior price performance of firms with poor recent earnings histories in the tendencies of investors to overreact to recent information. Richard Roll traces the negative effects of corporate takeovers on the stock prices of the acquiring firms to the overconfidence of managers, who fail to recognize the contributions of chance to their past successes. Andrei Shleifer and Robert Vishny show how the difficulty of establishing a reliable reputation for correctly assessing the value of long term capital projects can lead investment analysis, and hence corporate managers, to focus myopically on short term returns. As a testing ground for assessing the empirical accuracy of behavioral theories, the successful studies in this landmark collection reach beyond the world of finance to suggest, very powerfully, the importance of pursuing behavioral approaches to other areas of economic life. Advances in Behavioral Finance is a solid beachhead for behavioral work in the financial arena and a clear promise of wider application for behavioral economics in the future.

This volume presents innovative research on issues of importance to the well-being of older persons: labor market behavior, health care, housing and living arrangements, and saving and wealth.

Specific topics include the effect of labor market rigidities on the employment of older workers; the effect on retirement of the availability of continuation coverage benefits; and the influence of the prospective payment system (PPS) on rising Medicare costs. Also considered are the effects of health and wealth on living arrangement decisions; the incentive effects of employer-provided pension plans; the degree of substitution between 401(k) plans and other employer-provided retirement saving arrangements; and the extent to which housing wealth determines how much the elderly save and consume.

Two final studies use simulations that describe the implications of stylized economic models of behavior among the elderly. This timely volume will be of interest to anyone concerned with the economics of aging.

"Robert E. Lane is one of the most prominent and distinguished critics of both the human impact of market economies and economic theory, arguing from much research that happiness is more likely to flow from companionship, enjoyment of work, contribution to society, and the opportunity to develop as a person, than from the pursuit of wealth and the accumulation of material goods in market economies. This latest work playfully personalizes the contrast through a dialogue between a humanistic social scientist, Dessi, and a market economist, Adam. It is all too rare to have the two sides talking to each other. Moreover, in Lane's witty and literate hands, it is an open-minded and balanced conversation, in which neither side has all the answers. His unparalleled grasp of interdisciplinary social scientific knowledge is brought to bear on the largest questions of human life: What genuinely makes people happy? How should human society be organized to maximize the quality of human lives?"
--David O. Sears, Professor of Psychology and Political Science, UCLA

"Lane's deep knowledge of the sources of human happiness enables him to develop a powerful critique of economic theory."
---Robert A. Dahl, Sterling Professor Emeritus of Political Science, Yale University

Robert E. Lane is the Eugene Meyer Professor Emeritus of Political Science at Yale University. His previous publications include The Loss of Happiness in Market Democracies (2000) and The Market Experience (1991).

The population base in both the United States and Japan is growing older and, as those populations age, they provoke heretofore unexamined economic consequences. This cutting-edge, comparative volume, the third in the joint series offered by the National Bureau of Economic Research and the Japan Center for Economic Research, explores those consequences, drawing specific attention to four key areas: incentives for early retirement; savings, wealth, and asset allocation over the life cycle; health care and health care reform; and population projections.

Given the undeniable global importance of the Japanese and U.S. economies, these innovative essays shed welcome new light on the complex correlations between aging and economic behavior. This insightful work not only deepens our understanding of the Japanese and American economic landscapes but, through careful examination of the comparative social and economic data, clarifies the complex relation between aging societies, public policies, and economic outcomes.

Agricultural yields have increased steadily in the last half century, particularly since the Green Revolution. At the same time, inflation-adjusted agricultural commodity prices have been trending downward as increases in supply outpace the growth of demand. Recent severe weather events, biofuel mandates, and a switch toward a more meat-heavy diet in emerging economies have nevertheless boosted commodity prices. Whether this is a temporary jump or the beginning of a longer-term trend is an open question. Agricultural Productivity and Producer Behavior examines the factors contributing to the remarkably steady increase in global yields and assesses whether yield growth can continue. This research also considers whether agricultural productivity growth has been, and will be, associated with significant environmental externalities. Among the topics studied are genetically modified crops; changing climatic factors; farm production responses to government regulations including crop insurance, transport subsidies, and electricity subsidies for groundwater extraction; and the role of specific farm practices such as crop diversification, disease management, and water-saving methods. This research provides new evidence that technological as well as policy choices influence agricultural productivity. 

Allocation of Income within the Household develops an important new economic model of income distribution within the family, one that attempts to determine which family characteristics affect spending patterns. Professors Lazear and Michael base their work on an analysis of the 1972-73 Consumer Expenditure Survey and test their conclusions against the 1960-61 survey to verify the persistence of the effects discovered. They find, for example, that the average household spends $38 per child for every $100 spent per adult and that the level of relative and absolute expenditure on the child rises with the level of education of the head of the household.

Lazear and Michael also explore the implications their study may hold for the process of determining child support payments in households that dissolve. They argue that, unless the spending of every dollar can be monitored, alimony cannot be disentangled from child support. They also develop several criteria by which income might be distributed among family members, and, using one of those criteria, they present a series of tables that suggest the appropriate payment from one parent to another given family size, structure, and income level. Their model is particularly useful because it takes account of the ways other family members who were not part of the original household may contribute income to the new household. Other issues considered include the appropriate way to deal with children with special needs and the timing of transfer payments.

Powerful financial forces have supported the neoliberal project since the 1980s to advance their interests, but there are now signs that these forces have a new face and a new strategy.

The majority of the British finance sector threw its support behind Britain leaving the European Union, a flagship institution of neoliberalism. Beyond this counterintuitive move, what was really happening and why? Alt-Finance examines a new authoritarian turn in financialised democracies, focusing on the City of London, revealing a dangerous alternative political project in the making.

In a clash with traditional finance, the new behemoths of financial capital - hedge funds, private equity firms, and real estate funds - have started to cohere around a set of political beliefs, promoting libertarian, authoritarian, climate-denying, and Eurosceptic views. Protecting investments, suppressing social dissent, and reducing state interference is at the core of their mission for a new world order.

By following the money, the authors provide indisputable evidence of these worrying developments. Through a clear analysis of the international dealings of this new authoritarian-libertarian regime, not just in Britain but in the US and Brazil, we can understand how our world is being shaped against our will by struggles between dominant groups.

Presents a collection of papers by economists theorizing on the roles of altruism and morality versus self-interest in the shaping of human behavior and institutions. Specifically, the authors examine why some persons behave in an altruistic way without any apparent reward, thus defying the economist's model of utility maximization. The chapters are accompanied by commentaries from representatives of other disciplines, including law and philosophy.

Altruistically Inclined? examines the implications of recent research in the natural sciences for two important social scientific approaches to individual behavior: the economic/rational choice approach and the sociological/anthropological. It considers jointly two controversial and related ideas: the operation of group selection within early human evolutionary processes and the likelihood of modularity—domain-specific adaptations in our cognitive mechanisms and behavioral predispositions.

Experimental research shows that people will often cooperate in one-shot prisoner's dilemma (PD) games and reject positive offers in ultimatum games, contradicting commonly accepted notions of rationality. Upon first appearance, predispositions to behave in this fashion could not have been favored by natural selection operating only at the level of the individual organism.

Emphasizing universal and variable features of human culture, developing research on how the brain functions, and refinements of thinking about levels of selection in evolutionary processes, Alexander J. Field argues that humans are born with the rudiments of a PD solution module—and differentially prepared to learn norms supportive of it. His emphasis on failure to harm, as opposed to the provision of affirmative assistance, as the empirically dominant form of altruistic behavior is also novel.

The point of departure and principal point of reference is economics. But Altruistically Inclined? will interest a broad range of scholars in the social and behavioral sciences, natural scientists concerned with the implications of research and debates within their fields for the conduct of work elsewhere, and educated lay readers curious about essential features of human nature.

Alexander J. Field is the Michel and Mary Orradre Professor of Economics at Santa Clara University.

The U.S. labor market is the most laissez faire of any developed nation, with a weak social safety net and little government regulation compared to Europe or Japan. Some economists point to this hands-off approach as the source of America's low unemployment and high per-capita income. But the stagnant living standards and rising economic insecurity many Americans now face take some of the luster off the U.S. model. In America Works, noted economist Richard Freeman reveals how U.S. policies have created a labor market remarkable both for its dynamism and its disparities. America Works takes readers on a grand tour of America's exceptional labor market, comparing the economic institutions and performance of the United States to the economies of Europe and other wealthy countries. The U.S. economy has an impressive track record when it comes to job creation and productivity growth, but it isn't so good at reducing poverty or raising the wages of the average worker. Despite huge gains in productivity, most Americans are hardly better off than they were a generation ago. The median wage is actually lower now than in the early 1970s, and the poverty rate in 2005 was higher than in 1969. So why have the benefits of productivity growth been distributed so unevenly? One reason is that unions have been steadily declining in membership. In Europe, labor laws extend collective bargaining settlements to non-unionized firms. Because wage agreements in America only apply to firms where workers are unionized, American managers have discouraged unionization drives more aggressively. In addition, globalization and immigration have placed growing competitive pressure on American workers. And boards of directors appointed by CEOs have raised executive pay to astronomical levels. Freeman addresses these problems with a variety of proposals designed to maintain the vigor of the U.S. economy while spreading more of its benefits to working Americans. To maintain America's global competitive edge, Freeman calls for increased R&D spending and financial incentives for students pursuing graduate studies in science and engineering. To improve corporate governance, he advocates licensing individuals who serve on corporate boards. Freeman also makes the case for fostering worker associations outside of the confines of traditional unions and for establishing a federal agency to promote profit-sharing and employee ownership. Assessing the performance of the U.S. job market in light of other developed countries' recent history highlights the strengths and weaknesses of the free market model. Written with authoritative knowledge and incisive wit, America Works provides a compelling plan for how we can make markets work better for all Americans. A Volume in the Russell Sage Foundation's Centennial Series

This benchmark volume addresses the debate over the effects of early industrialization on standards of living during the decades before the Civil War. Its contributors demonstrate that the aggregate antebellum economy was growing faster than any other large economy had grown before.

Despite the dramatic economic growth and rise in income levels, questions remain as to the general quality of life during this era. Was the improvement in income widely shared? How did economic growth affect the nature of work? Did higher levels of income lead to improved health and longevity? The authors address these questions by analyzing new estimates of labor force participation, real wages, and productivity, as well as of the distribution of income, height, and nutrition.

The foundational text of modern economic thought, the origin of laissez-faire economics and contemporary free market thinking

Adam Smith's The Wealth of Nations was recognized as a landmark of immediately upon publication in 1776. As the first serious, data-driven argument for the principles of political economy, it is the point of departure for all subsequent economic thought. Smith's argument that human self-interest is the primary driver of economic activity, and that in aggregate that self-interest--acting through a market freed from government intervention-guides markets and economies toward the best outcomes for business and society, remains foundational for contemporary free-market economics.

This edition presents the definitive 1904 version of The Wealth of Nations, painstakingly edited by Edwin Cannan and featuring Cannan's illuminating introduction, and notes, as well as a a full index. An additional preface by distinguished economist George J. Stigler places Smith's book and thought in a contemporary context. The result is the best edition of this classic for students and general readers alike.

Analyses in the Economics of Aging summarizes a massive amount of new research on several popular and less-examined topics pertaining to the relationship between economics and aging. Among the many themes explored in this volume, considerable attention is given to new research on retirement savings, the cost and efficiency of medical resources, and the predictors of health events.

The volume begins with a discussion of the risks and merits of 401(k) plans. Subsequent chapters present recent analysis of the growth of Medicare costs; the different aspects of disability; and the evolution of health, wealth, and living arrangements over the life course. Keeping with the global tradition of previous volumes, Analyses in the Economics of Aging also includes comparative studies on savings behavior in Italy, the Netherlands, and the United States; an examination of household savings among different age groups in Germany; and a chapter devoted to population aging and the plight of widows in India.

Carefully compiled and containing some of the most cutting-edge research and analysis available, this volume should be of interest to any specialist or policymaker concerned with ongoing changes in savings and retirement behaviors.

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.

Presents sophisticated applied analyses of issues in development economics

'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.

'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.

Although America’s founders may have been inspired by the political thought of ancient Greece and Rome, the United States is more often characterized by its devotion to the pursuit of commerce. Some have even said that a modern commercial republic such as the United States unavoidably lowers its moral horizon to little more than a concern with securing peace and prosperity so that commerce can flourish.

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.

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.

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