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Norman Miller provides a fresh perspective on balance of payments and exchange rate theories, including intertemporal open economy models that focus on the optimum current account. To this end, he proves that any non-zero balance of payments must always be associated with a disequilibrium in either a commodity or an asset market. In this rigorous yet readable book, important welfare and policy implications are carefully examined. Norman Miller develops a new theory of the balance of payments associated with commodity market disequilibrium, a loanable funds theory of exchange rate and a modern foreign exchange market theory of the exchange rate that incorporates capital flows.
This insightful and comprehensive book uses theory and empirical studies to debunk contemporary illusions about the functionality of economies and examines the phenomena of economic magic and economic black magic. Norman C. Miller considers 11 economic myths, three of which are the theory that excessive imports reduce employment as firms are forced to downsize or shut down, that a more equal distribution of income kills incentives and reduces economic growth rates and the myth that a higher minimum wage always generates a net decrease in employment. Chapters examine the effects of advances in technology, poverty and income inequality, international trade, and trade deficits on employment and...
The School of Journalism at Columbia University has awarded the Pulitzer Prize since 1917. Nowadays there are prizes in 21 categories from the fields of journalism, literature and music. The Pulitzer Prize Archive presents the history of this award from its beginnings to the present: In parts A to E the awarding of the prize in each category is documented, commented and arranged chronologically. Part F covers the history of the prize biographically and bibliographically. Part G provides the background to the decisions.
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Encounters with Witchcraft is a personal story of a young man's fascination with African witchcraft discovered first in a trek across East Africa and the Congo. The story unfolds over four decades during the author's long residence in and many trips to Kenya, Tanzania and Uganda. As a field researcher he learns from villagers what it is like to live with witches, and how witches are seen through African eyes. His teachers are healers, cult leaders, witch-hunters and self-proclaimed "witches" as well as policemen, politicians and judges. A key figure is Mohammadi Lupanda, a frail village woman whose only child has died years before. In her dreams, however, she believes the little girl is not ...