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The bestselling author of Simpler offers a powerful, provocative, and convincing argument for protecting people from their own mistakes Based on a series of pathbreaking lectures given at Yale University in 2012, this powerful, thought-provoking work by national best-selling author Cass R. Sunstein combines legal theory with behavioral economics to make a fresh argument about the legitimate scope of government, bearing on obesity, smoking, distracted driving, health care, food safety, and other highly volatile, high-profile public issues. Behavioral economists have established that people often make decisions that run counter to their best interests-producing what Sunstein describes as "behavioral market failures." Sometimes we disregard the long term; sometimes we are unrealistically optimistic; sometimes we do not see what is in front of us. With this evidence in mind, Sunstein argues for a new form of paternalism, one that protects people against serious errors but also recognizes the risk of government overreaching and usually preserves freedom of choice. Against those who reject paternalism of any kind, Sunstein shows that "choice architecture"-government-imposed structures that affect our choices-is inevitable, and hence that a form of paternalism cannot be avoided. He urges that there are profoundly moral reasons to ensure that choice architecture is helpful rather than harmful-and that it makes people's lives better and longer.
Who owns London? In recent decades, it has fallen into the hands of the super-rich. It is today the essential 'World City' for High-Net-Worth Individuals and Ultra-High-Net-Worth Individuals. Compared to New York or Tokyo, the two cities that bear the closest comparison, it has the largest number of wealthy people per head of population. Taken as a whole, London is the epicentre of the world's finance markets, an elite cultural hub, and a place to hide one's wealth. Rowland Atkinson presents a history of the property boom economy, going back to the end of Empire. It tells the story of eager developers, sovereign wealth and grasping politicians, all paving the way for the wealthy colonisation of the cityscape. The consequences of this transformation of the capital for capital is the brutal expulsion of the urban poor, austerity, cuts, demolitions, and a catalogue of social injustices. This Faustian pact has resulted in the sale and destruction of public assets, while the rich turn a blind eye toward criminal money laundering to feather their own nests. Alpha City moves from gated communities and the mega-houses of the super-rich to the disturbing rise of evictions and displacements from the city. It shows how the consequences of widening inequality have an impact on the urban landscape.
Government interventions in market failures can encounter objections from those who doubt their efficacy. Acocella, a leading expert on economic policy, counters these unfounded criticisms, making the convincing case for the foundation, coordination and reach of government action through economic policy. Arguing for the governmental potential to devise democratic, fair and effective institutions and policies, this book also demonstrates the validity of the principles outlined by Frisch and Tinbergen, amongst others, for controlling the economy, in a strategic context, equivalent to the rational expectations assumption. Demonstrating how unconventional monetary policies (such as macro-prudential regulation, new fiscal rules, and new forms of international policy coordination) can offer an effective response to the multiplicity of current economic issues, the recent financial crisis arguably indicates that economic policy must once again take centre stage as the applied complement to mainstream economic theory.
NATIONAL BESTSELLER! If Americans want to know why their health care is so costly and getting costlier, they need only look in the mirror. Americans are notoriously unhealthy--we eat too much, drink too much, and sit too much. When roughly 80 percent of cardiovascular disease and 40 percent of all cancer cases could be prevented by simple lifestyle changes, it is time to take a deeper look at the problem and ask who is truly responsible. Consider that: - After seventy years of innovation, heart disease and cancer remain the top two causes of death in the United States. - In 1960, health care spending was 5 percent of America's GDP; today, it is 17.5 percent. - The government spends over $1 trillion annually on health care. - Nearly one in five American deaths is associated with poor diets. - Simply reducing sodium intake by 1,200 mg per day could save up to $20 billion a year in medical costs. In Make America Healthy Again, Nicole Saphier, a Memorial Sloan Kettering physician, nationally recognized patient advocate, and media personality, reveals how individual negligence and big government incompetence have destroyed America's health care system. Combining historical events, economic trends, and essential lifestyle advice, with her unique perspective, she offers concrete solutions to address this epic problem. We don't need socialized medicine--we need to take better care of ourselves. By getting healthier and adopting preventative measures, Saphier believes, we can reduce the astronomical costs of treatment and improve overall care. The only way to lower medical costs for everyone is to stop incentivizing bad health decisions. Policies such as the Affordable Care Act and single-payer plans ignore something crucial to lowering the overall financial burden: personal responsibility. We can no longer expect doctors and the government to fix illnesses we have the power to prevent. Regardless of which health policy is adopted, our nation will flounder unless we take action. It is up to the American people to make America healthy again.
Why political inequality is to blame for economic and social injustice Political equality is the most basic tenet of democracy. Yet in America and other democratic nations, those with political power have special access to markets and public services. A Republic of Equals traces the massive income inequality observed in the United States and other rich democracies to politicized markets and avoidable gaps in opportunity-and explains why they are the root cause of what ails democracy today. In this provocative book, economist Jonathan Rothwell draws on the latest empirical evidence from across the social sciences to demonstrate how rich democracies have allowed racial politics and the interests of those at the top to subordinate justice. He looks at the rise of nationalism in Europe and the United States, revealing how this trend overlaps with racial prejudice and is related to mounting frustration with a political status quo that thrives on income inequality and inefficient markets. But economic differences are by no means inevitable. Differences in group status by race and ethnicity are dynamic and have reversed themselves across continents and within countries. Inequalities persist between races in the United States because Black Americans are denied equal access to markets and public services. Meanwhile, elite professional associations carve out privileged market status for their members, leading to compensation in excess of their skills. A Republic of Equals provides a bold new perspective on how to foster greater political and social equality, while moving societies closer to what a true republic should be.
'A must-read. Acemoglu and Robinson are intellectual heavyweights of the first rank . . . erudite and fascinating' Paul Collier, Guardian, on Why Nations Fail In this profoundly important follow up to their global bestseller, Acemoglu and Robinson provide a powerful new framework for looking at countries' development through the way that the state interacts with society. This conceptualisation - in which any country can be located on a simple diagram and its future predicted - is new and based on decades of their research. The power distribution between state and society affects how peaceful societies are, what types of institutions develop, how much oppression and fear people suffer, how their economies are organized, and how rich they are. Full of entertaining stories from the past (it starts with the wife of a Nigerian ruler fleeing Abuja with 38 suitcases of cash), Balance of Power sheds light on issues from the present and has practical political ideas for the future. 'An intellectually rich book that develops an important thesis with verve' Martin Wolf, Financial Times, on Why Nations Fail
'As enjoyable as it is thought-provoking' Jared Diamond 'This book is more original and exciting than its predecessor...the highly influential Why Nations Fail' Martin Wolf, Financial Times By the authors of the international bestseller Why Nations Fail, based on decades of research, this powerful new big-picture framework explains how some countries develop towards and provide liberty while others fall to despotism or anarchy - and explains how liberty can thrive. Liberty is hardly the 'natural' order of things; usually states have been either too weak to protect individuals or too strong for people to protect themselves from despotism. There is also a happy Western myth that where freedom exists, it's a steady state, arrived at by 'enlightenment'. But this static view is a fantasy, the authors argue; rather, the corridor to liberty is narrow and stays open only through a self-reinforcing struggle between state and society - between elites and citizens. Liberty depends on a delicate balance between the two. This struggle - which affects peace and prosperity - is incessant, and its outcome not predetermined. As the authors show, contrary to some theories, there is no inevitability to how countries move in and out of the corridor; Europe's political and economic ascendancy, for example, was not guaranteed. Particular historical relationships in each country between state and society affect their political and economic trajectory, and therefore influence how countries respond to events and shocks. So the future is up for grabs. With compelling stories from around the world, in history and from today - and with a single framework through which the path of any nation can be understood - this masterpiece helps us in the vital task of understanding the past and present, and analysing the future. For today the road to freedom is becoming more treacherous, endangering the peace and prosperity that depend on it - and the opposite of the narrow corridor to liberty is the road to ruin. 'This brilliant and insightful book could not be more timely. Across the world countries are wrestling with the tension between state and society. Populism of both Left and Right offers glib and dangerous answers. By contrast, Acemoglu and Robinson show that the narrow corridor to liberty depends on combining a strong capable state with a strong civic society. Not one or the other - both. This is the route to prosperity for all - but it is as they say "no easy feat"' Sir Michael Barber, author of How to Run a Government 'In this highly original and gratifying fresco, Daron Acemoglu and James Robinson take us on a journey through civilizations, time and locations. Their narrow corridor depicts the constant and often unstable struggle of society to keep the Leviathan in check and of the Leviathan to weaken the cage of norms. A remarkable achievement that only they could pull off and that seems destined to repeat the stellar performance of Why Nations Fail' Jean Tirole, Nobel Laureate in Economics, 2014 'Society and state need each other. Applying a global wealth of historical detail to a simple analytic framework, Acemoglu and Robinson build a powerful argument against the current opposing fashions of totalitarianism and the stateless society' Sir Paul Collier, author of The Bottom Billion 'The Narrow Corridor takes us on a fascinating journey, across continents and through human history, to discover the critical ingredient of liberty. It finds that it's up to each of us: that ingredient is our own commitments, as citizens, to support democratic values. In these times, there can be no more important message - nor any more important book' George Akerlof, Nobel Laureate in Economics, 2001
Reasoned Administration and Democratic Legitimacy: How Administrative Law Supports Democratic Government explores the fundamental bases for the legitimacy of the modern administrative state. While some have argued that modern administrative states are a threat to liberty and at war with democratic governance, Jerry L. Mashaw demonstrates that in fact reasoned administration is more respectful of rights and equal citizenship and truer to democratic values than lawmaking by either courts or legislatures. His account features the law's demand for reason giving and reasonableness as the crucial criterion for the legality of administrative action. In an argument combining history, sociology, political theory and law, this book demonstrates how administrative law's demand for reasoned administration structures administrative decision-making, empowers actors within and outside the government, and supports a complex vision of democratic self-rule.
Rejecting cries of gloom and doom, Hope for a Heated Planet shows how the fight against global warming can be won by the grassroots efforts of individuals. Robert K. Musil, who led the Nobel Peace Prize-winning organization Physicians for Social Responsibility, explains that a growing new climate movement can produce unprecedented change-in the economy, public health, and home-while saving the planet.Musil draws on personal experience and compelling data in this practical and rigorous analysis of the causes and cures for global warming. The book presents all the players in the most pressing challenge facing society today, from the massive fossil fuel lobby to the enlightened corporations that are joining the movement to ""go green."" Musil thoroughly explains the tremendous potential of renewable energy sources-wind, solar, and biofuel-and the startling conclusions of experts who say society can do away entirely with fossil fuels. He tells readers about the engaged politicians, activists, religious groups, and students who are already working together against climate change. But the future depends, Musil insists, on what changes ordinary citizens make. Through personal choices and political engagement, he shows how readers can cut carbon emissions and create green communities where they live. With practical and realistic solutions, Hope for a Heated Planet inspires readers to be accountable and enables them to usher in an age of sustainability for future generations.
In this passionate and powerful book-part manifesto, part plan of action-the renowned economist Jeffrey D. Sachs offers a practical strategy to move America, seemingly more divided than ever, toward a new consensus: sustainable development. Sustainable development is a holistic approach that emphasizes economic, social, and environmental objectives in shaping policy. In focusing too much on economic growth, the United States has neglected rising economic inequality and dire environmental threats. Now, even growth is imperiled. Sachs explores issues that have captivated the nation and political debate, including infrastructure, trade deals, energy policy, the proper size and role of government, the national debt, and income inequality. Not only does he provide illuminating and accessible explanations of the forces at work in each case, but he also presents specific policy solutions. His argument rises above the pessimism born of political paralysis, economic stagnation, and partisanship to devise a brighter way forward, achievable both individually and collectively. In Building the New American Economy, Sachs shows how the United States can find a path to renewed economic progress that is fair and environmentally sustainable.
The US 'war on terror' has repeatedly violated fundamental rule of law values. When executive and legislature commit such egregious wrongs, courts represent the ultimate defense. Law's Trials: The Performance of Legal Institutions in the US 'War on Terror' offers the first comprehensive account of judicial performance during the sixteen years of the Bush and Obama administrations. Abel examines criminal prosecutions of alleged terrorists, courts martial of military personnel accused of law of war violations, military commission trials of 'high value detainees', habeas corpus petitions by Guantanamo detainees, civil damage actions by victims of both the 'war on terror' and terrorism, and civil liberties violations by government officials and Islamophobic campaigners. Law's Trials identifies successful defenses of the rule of law through qualitative and quantitative analyses, comparing the behavior of judges within and between each category of cases and locating those actions in a comparative history of efforts to redress fundamental injustices.
A compelling explanation of how the law shapes the distribution of wealth Capital is the defining feature of modern economies, yet most people have no idea where it actually comes from. What is it, exactly, that transforms mere wealth into an asset that automatically creates more wealth? The Code of Capital explains how capital is created behind closed doors in the offices of private attorneys, and why this little-known fact is one of the biggest reasons for the widening wealth gap between the holders of capital and everybody else. In this revealing book, Katharina Pistor argues that the law selectively "codes" certain assets, endowing them with the capacity to protect and produce private wealth. With the right legal coding, any object, claim, or idea can be turned into capital-and lawyers are the keepers of the code. Pistor describes how they pick and choose among different legal systems and legal devices for the ones that best serve their clients' needs, and how techniques that were first perfected centuries ago to code landholdings as capital are being used today to code stocks, bonds, ideas, and even expectations-assets that exist only in law. A powerful new way of thinking about one of the most pernicious problems of our time, The Code of Capital explores the different ways that debt, complex financial products, and other assets are coded to give financial advantage to their holders. This provocative book paints a troubling portrait of the pervasive global nature of the code, the people who shape it, and the governments that enforce it.
In Japan Restored, New York Times bestselling author Clyde Prestowitz envisions post-bubble Japan in the year 2050, when the country's economic prosperity has made it a world leader in every area. In 1979, the book Japan as Number One: Lessons for America by Harvard University professor Ezra Vogel caused a sensation in the United States by pointing out that Japan was surpassing America as world economic leader; the book remains to this day the all-time bestselling non-fiction book by a Western author in Japan. The book was timely: Japan's subsequent bubble era of the 1980s saw the country booming. But since the economic bubble burst at the start of the 1990s, Japan has been in decline. Japan Restored takes up where Vogel left off. Written as a vision of Japan in the year 2050, Prestowitz looks back to the present year as such a low point for Japan that a special reform commission was set up that helped the country regain its former position as a leader in technology, in business, and geopolitically. Looking at education, innovation, the role of women, corporate organization, energy, infrastructure, domestic government, and international alliances, Prestowitz draws up a fascinating and controversial blueprint for the future success of Japan. As the eyes of the world turn towards Japan in the run-up to the 2020 Olympics, Japan Restored is as timely as the 1979 book that inspired it.
While large, multinational corporations have supported the removal of tariffs, behind the scenes these firms have fought for protection in the form of product regulations, including testing, labeling, and registration requirements. Unlike tariffs, these regulations can raise fixed costs, excluding smaller firms from the market and shifting profits toward global giants. Narrowing the Channel demonstrates that globalization and globalized firms can paradoxically hinder rather than foster economic cooperation as larger firms seek to protect their markets through often unnecessarily strict product regulations. To illustrate the problem of regulatory protectionism, Robert Gulotty offers an in-depth analysis of contemporary rulemaking in the United States and the European Union in the areas of health, safety, and environmental standards. He shows how large firms seek regulatory schemes that disproportionately disadvantage small firms. When multinationals are embedded in the local economy, governments too have an incentive to use these regulations to shift profits back home. Today, the key challenge to governing global trade is not how much trade occurs but who is allowed to participate, and this book shows that new rules will be needed to allow governments to widen the benefits of global commerce and avoid further inequality and market concentration.
This book extends the public debate on defence and security issues, by considering how the human and material resources of the military can be redirected towards reconstruction and development.
Combining international political theory and EU studies, Richard Bellamy provides an original account of the democratic legitimacy of international organisations. He proposes a new interpretation of the EU's democratic failings and how they might be addressed. Drawing on the republican theory of freedom as non-domination, Bellamy proposes a way to combine national popular sovereignty with the pursuit of fair and equitable relations of non-domination among states and their citizens. Applying this approach to the EU, Bellamy shows that its democratic failings lie not with the democratic deficit at the EU level but with a democratic disconnect at the member state level. Rather than shifting democratic authority to the European Parliament, this book argues that the EU needs to reconnect with the different 'demoi' of the member states by empowering national parliaments in the EU policy-making process.
How central banks and independent regulators can support rather than challenge constitutional democracy Unelected Power lays out the principles needed to ensure that central bankers and other independent regulators act as stewards of the common good. Blending economics, political theory, and public law, this critically important book explores the necessary conditions for delegated but politically insulated power to be legitimate in the eyes of constitutional democracy and the rule of law. It explains why the solution must fit with how real-world government is structured, and why technocrats and their political overseers need incentives to make the system work as intended. Now with a new preface by Paul Tucker, Unelected Power explains how the regulatory state need not be a fourth branch of government free to steer by its own lights, and how central bankers can emulate the best of judicial self-restraint.
The public and the media are fascinated by U.S. government secrets, real and imagined, yet very few people know how the process of obtaining formerly secret documents works. "Secrecy Wars" is a look inside the American secrecy system as it is accessed through the Freedom of Information Act (FOIA) and the Privacy Act. With its perspective that of a political legal drama, this important new book will not only entertain and inform but also influence the legal, journalism, and political communities.
Nazism triumphed in Germany during the high era of Jim Crow laws in the United States. Did the American regime of racial oppression in any way inspire the Nazis? The unsettling answer is yes. In Hitler's American Model, James Whitman presents a detailed investigation of the American impact on the notorious Nuremberg Laws, the centerpiece anti-Jewish legislation of the Nazi regime. Both American citizenship and antimiscegenation laws proved directly relevant to the two principal Nuremberg Laws-the Citizenship Law and the Blood Law. Contrary to those who have insisted otherwise, Whitman demonstrates that the Nazis took a real, sustained, significant, and revealing interest in American race policies. He looks at the ultimate, ugly irony that when Nazis rejected American practices, it was sometimes not because they found them too enlightened but too harsh. Indelibly linking American race laws to the shaping of Nazi policies in Germany, Hitler's American Model upends the understanding of America's influence on racist practices in the wider world.
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