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Libertarianism, from A to Z
Libertarian principles seem basic enough -- keep government out of boardrooms, bedrooms, and wallets, and let markets work the way they should. But what reasoning justifies those stances, and how can they be elucidated clearly and applied consistently? In Libertarianism, from A to Z, acclaimed Harvard economist Jeffrey Miron sets the record straight with a dictionary that takes the reader beyond the mere surface of libertarian thought to reveal the philosophy's underlying and compelling logic. Tackling subjects as diverse as prostitution and drugs, the financial crises and the government bailouts, the legality of abortion, and the War on Terror, Miron takes the reader on a tour of libertaria...
The Economics of Seasonal Cycles
Since macroeconomists first began the systematic study of aggregate data, they have grappled with the fact that most economic time series exhibit substantial seasonal variation. In general, macroeconomists abstract from this seasonal variation, both in their models of cyclical behavior and in their empirical testing of these models. This standard practice is a useful simplification if two key conditions hold. The first is that there are no interactions between seasonal cycles and business cycles: they result from different exogenous factors and different economic propagation mechanisms. The second is that there are no important welfare issues attached to seasonal fluctuations per se: optimal...
The Defining Moment
In contemporary American political discourse, issues related to the scope, authority, and the cost of the federal government are perennially at the center of discussion. Any historical analysis of this topic points directly to the Great Depression, the "moment" to which most historians and economists connect the origins of the fiscal, monetary, and social policies that have characterized American government in the second half of the twentieth century. In the most comprehensive collection of essays available on these topics, The Defining Moment poses the question directly: to what extent, if any, was the Depression a watershed period in the history of the American economy? This volume organiz...
The Economics of Crime
This title presents a survey of the crime problem in Latin America, which takes a very broad and appropriately reductionist approach to analyse the determinants of the high crime levels, focusing on the negative social conditions in the region, including inequality and poverty, and poor policy design, such as relatively low police presence. The chapters illustrate three channels through which crime might generate poverty, that is, by reducing investment, by introducing assets losses, and by reducing the value of assets remaining in the control of households.
Solutions for the World's Biggest Problems
The world has many pressing problems. Thanks to the efforts of governments, NGOs, and individual activists there is no shortage of ideas for resolving them. However, even if all governments were willing to spend more money on solving the problems, we cannot do it all at once. We have to prioritize; and in order to do this we need a better sense of the costs and benefits of each 'solution'. This book offers a rigorous overview of twenty-three of the world's biggest problems relating to the environment, governance, economics, and health and population. Leading economists provide a short survey of the analysis and sketch out policy solutions for which they provide cost-benefit ratios. A unique feature is the provision of freely downloadable software which allows readers to make their own cost-benefit calculations for spending money to make the world a better place.
Anti-Piketty
Thomas Piketty's book Capital in the Twenty-First Century has enjoyed great success and provides a new theory about wealth and inequality. However, there have been major criticisms of his work. Anti-Piketty: Capital for the 21st Century collects key criticisms from 20 specialists—economists, historians, and tax experts—who provide rigorous arguments against Piketty's work while examining the notions of inequality, growth, wealth, and capital.
Reducing Inflation
While there is ample evidence that high inflation is harmful, little is known about how best to reduce inflation or how far it should be reduced. In this volume, sixteen distinguished economists analyze the appropriateness of low inflation as a goal for monetary policy and discuss possible strategies for reducing inflation. Section I discusses the consequences of inflation. These papers analyze inflation's impact on the tax system, labor market flexibility, equilibrium unemployment, and the public's sense of well-being. Section II considers the obstacles facing central bankers in achieving low inflation. These papers study the precision of estimates of equilibrium unemployment, the sources of the high inflation of the 1970s, and the use of non-traditional indicators in policy formation. The papers in section III consider how institutions can be designed to promote successful monetary policy, and the importance of institutions to the performance of policy in the United States, Germany, and other countries. This timely volume should be read by anyone who studies or conducts monetary policy.
Drug War Heresies
This book provides the first multidisciplinary and nonpartisan analysis of how the United States should decide on the legal status of cocaine, heroin and marijuana. It draws on data about the experiences of Western European nations with less punitive drug policies as well as new analyses of America's experience with legal cocaine and heroin a century ago, and of America's efforts to regulate gambling, prostitution, alcohol and cigarettes. It offers projections on the likely consequences of a number of different legalization regimes and shows that the choice about how to regulate drugs involves complicated tradeoffs among goals and conflict among social groups. The book presents a sophisticated discussion of how society should deal with the uncertainty about the consequences of legal change. Finally, it explains, in terms of individual attitudes toward risk, why it is so difficult to accomplish substantial reform of drug policy in America.
The Pot Book
Leading experts on the science, history, politics, medicine, and potential of America’s most popular recreational drug • With contributions by Andrew Weil, Michael Pollan, Lester Grinspoon, Allen St. Pierre (NORML), Tommy Chong, and others • Covers marijuana’s physiological and psychological effects, its medicinal uses, the complex politics of cannabis law, pot and parenting, its role in creativity, business, and spirituality, and much more Exploring the role of cannabis in medicine, politics, history, and society, The Pot Book offers a compendium of the most up-to-date information and scientific research on marijuana from leading experts, including Lester Grinspoon, M.D., Rick Dobli...
Pot Politics
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