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Modern Consumer Theory
Professor Lancaster has made a major contribution to consumer theory. His work on the consumer's decision-making process has been particularly influential. This coherent thematic selection of his most important recent essays, some of which are published here for the first time, reflect the major features of Professor Lancaster's work. The essays form a unified collection on consumer choice and product variety and will be essential reading for any economist with an interest in the most recent developments in modern microeconomics.
Mathematical Economics
Graduate-level text provides complete and rigorous expositions of economic models analyzed primarily from the point of view of their mathematical properties, followed by relevant mathematical reviews. Part I covers optimizing theory; Parts II and III survey static and dynamic economic models; and Part IV contains the mathematical reviews, which range fromn linear algebra to point-to-set mappings.
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Consumer Theory
A collection of 34 articles on consumer theory, giving representative coverage of important ideas in the field. Apart from a few classics from the pre-1950 period, most papers are from the decades of the 1950s, 1960s, and 1970s, with the most recent from 1991. Articles are arranged in sections on foundations of neoclassical theory, revealed preference, utility and rationality, aggregate demand, the structure of preferences, consumption as production, intertemporal choice, durable goods, uncertainty, and special cases. No index. Annotation copyrighted by Book News, Inc., Portland, OR
Crisis
We are living in a time of crisis which has cascaded through society. Financial crisis has led to an economic crisis of recession and unemployment; an ensuing fiscal crisis over government deficits and austerity has led to a political crisis which threatens to become a democratic crisis. Borne unevenly, the effects of the crisis are exacerbating class and gender inequalities. Rival interpretations – a focus on ‘austerity’ and reduction in welfare spending versus a focus on ‘financial crisis’ and democratic regulation of finance – are used to justify radically diverse policies for the distribution of resources and strategies for economic growth, and contested gender relations lie at the heart of these debates. The future consequences of the crisis depend upon whether there is a deepening of democratic institutions, including in the European Union. Sylvia Walby offers an alternative framework within which to theorize crisis, drawing on complexity science and situating this within the wider field of study of risk, disaster and catastrophe. In doing so, she offers a critique and revision of the social science needed to understand the crisis.
Foundations of Mathematical Economics
This book provides a comprehensive introduction to the mathematical foundations of economics, from basic set theory to fixed point theorems and constrained optimization. Rather than simply offer a collection of problem-solving techniques, the book emphasizes the unifying mathematical principles that underlie economics. Features include an extended presentation of separation theorems and their applications, an account of constraint qualification in constrained optimization, and an introduction to monotone comparative statics. These topics are developed by way of more than 800 exercises. The book is designed to be used as a graduate text, a resource for self-study, and a reference for the professional economist.
Economics After the Crisis
A noted economist challenges the fundamental economic assumptions that cast economic growth as the objective and markets as the universally applicable means of achieving it. The global economic crisis of 2008–2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic challenges as we recover, combined with reform of financial regulation to prevent a recurrence. In Economics After the Crisis, Adair Turner offers a strong counterargument to this somewhat complacent view. The crisis of 2008–2009, he writes, should prompt a wide set of challenges to economic and political assumptions and to economic theory. Turner argues that more rapid growth should not be the overriding objective for rich developed countries, that inequality should concern us, that the pre-crisis confidence in financial markets as the means of pursuing objectives was profoundly misplaced.
The Invention of Creativity
Contemporary society has seen an unprecedented rise in both the demand and the desire to be creative, to bring something new into the world. Once the reserve of artistic subcultures, creativity has now become a universal model for culture and an imperative in many parts of society. In this new book, cultural sociologist Andreas Reckwitz investigates how the ideal of creativity has grown into a major social force, from the art of the avant-garde and postmodernism to the ‘creative industries’ and the innovation economy, the psychology of creativity and self-growth, the media representation of creative stars, and the urban design of ‘creative cities’. Where creativity is often assumed t...
Can We Afford the Future?
According to many scientists, climate change is a growing threat to life as we know it, requiring a large-scale, immediate response. According to many economists, climate change is a moderately important problem; the best policy is a slow, gradual start, to avoid spending too much. They can't both be right. In this book, Frank Ackerman offers a refreshing look at the economics of climate change, explaining how the arbitrary assumptions of conventional theories get in the way of understanding this urgent problem. The benefits of climate protection are vital but priceless, and hence often devalued in cost-benefit calculations. Preparation for the most predictable outcomes of global warming is ...
