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A New Economics for Modern Dynamic Economies
It is becoming increasingly clear that a new economics is required for investigating modern dynamic economies and the coming social world. Important features of those economies, such as innovation, uncertainty and entrepreneurship, are usually considered capitalist features. This may have been true historically, but this book argues that the contrary will be true for the future: the full and efficient operation of those supposed capitalist features will increasingly require the overcoming of capitalist civilization. In this book, Angelo Fusari constructs a theoretical framework for the interpretation and management of modern dynamic economies which demonstrates that institutional transformat...
The Practices of Happiness
A PDF version of this book is available for free in open access via www.tandfebooks.com as well as the OAPEN Library platform, www.oapen.org. It has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 3.0 license and is part of the OAPEN-UK research project. There is growing evidence that rising levels of prosperity in Western economies since 1945 have not been matched by greater incidences of reported well-being and happiness. Indeed, material affluence is often accompanied instead by greater social and individual distress. A growing literature within the humanities and social sciences is increasingly concerned to chart not only the underlying trends in re...
New Financial Ethics
Following the internationalisation, globalisation and deregulation of the financial market over the last few decades, the financial sector has evolved from a servicing industry into an initiating and leading sector in the international industrialised economy. The power of the financial sector, including Credit Rating Agencies, determines the creditworthiness of companies and countries. Today’s financial sector dominates instead of serving the real economy, which puts substantial pres - sure on all the agencies involved, not least the banks, to make the profits that will drive economic growth. As a result of this pressure, moral conduct in the financial sector has been put under severe stra...
The Political Economy of Bureaucracy
The Political Economy of Bureaucracy applies Public Choice theory and a complex systems view of government institutions to analyze policy implementation as an economic process. It addresses the common and vexing question of why managing federal agencies for results is so difficult by challenging traditional assumptions of institutional design and policy analysis. Using creative methods that focus on relationships that constrain the choices of executives and managers in a political hierarchy, the author reveals control and coordination as goals that are imperfectly achieved and often conflicting with one another. Despite decades of intense study, serious reform efforts and impressive technolo...
The Future of Capitalism After the Financial Crisis
The Future of Capitalism After the Financial Crisis: The Varieties of Capitalism Debate in the Age of Austerity contains thirteen world leading political economists writing from within eight different countries who critically analyze the current crisis tendencies of capitalism both globally and in particular countries. Given the likelihood of an increasingly crisis prone future for capitalism, it is important not only to rethink capitalism in its current manifestations or varieties. It is also important to rethink research methods and conceptual frameworks in preparation for understanding an increasingly rocky future in which capitalism itself could go the way of the many species that in the...
A Political Economy of Contemporary Capitalism and its Crisis
The recent financial meltdown and the resulting global recession have rekindled debates regarding the nature of contemporary capitalism. This book analyses the ongoing financialization of the economy as a development within capitalism, and explores the ways in which it has changed the organization of capitalist power. The authors offer an interpretation of the role of the financial sphere which displays a striking contrast to the majority of contemporary heterodox approaches. Their interpretation stresses the crucial role of financial derivatives in the contemporary organization of capitalist power relations, arguing that the process of financialization is in fact entirely unthinkable in the absence of derivatives. The book also uses Marx’s concepts and some of the arguments developed in the framework of the historic Marxist controversies on economic crises in order to gain an insight into the modern neoliberal form of capitalism and the recent financial crisis. Employing a series of international case studies, this book will be essential reading for all those with an interest in the financial crisis, and all those seeking to comprehend the workings of capitalism.
Marx and Living Labour
From his early economic works on, Marx conceived the labour of any kind of society as a set of production activities and analysed the historical modes of production as specific ways of distributing and exchanging these activities. Political economy on the contrary considers the labour only under the form of its product, and the exchange of products as commodities as the unique form of social labour exchange. For Marx, insofar as the labour creating value represents a specific mode of exchanging the society's living labour, general and abstract labour cannot not only be defined as the substance or measure unit of the commodity, as in Smith or Ricardo, but foremost as an expense of living labo...
Inherited Wealth, Justice and Equality
The core of the book consists of a selection of papers presented at an international workshop where researchers from a variety of fields and countries discussed the connections between inherited wealth, justice and equality. The volume is complemented by a few other papers commissioned by the editors. The contributions cover historical, political, philosophical, sociological and economic aspects.
Economic Models for Policy Making
Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different approaches have not been brought together with a view to enhancing the systematic unification and evaluation of these models. This new volume aims to fill this gap by bringing together four decades’ worth of work by S. I. Cohen on economic modelling for policy making. Work on older models has been rewritten and brought fully up to date, and these older models have therefore been brought back to the fore, both to assess how they influenced more recent models and to see how they could be used today. The focus of the book is on models for development po...
Social Fairness and Economics
This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers. Some of the chapters are i...
