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In this exciting new book, Rieger and Leibfried argue persuasively
for the need to understand developments in welfare and social
provision alongside the processes of globalization. In the two
decades following the Second World War, the massive expansion of
the welfare state system arguably allowed Western governments to
expose their societies to uncontrollable external risks associated
with the deregulated global economic environment. The authors
contend that the combination of changes in welfare and
technological innovation provided the necessary conditions for
globalization by limiting some of the more harmful effects of
Today, the developed welfare state is in need of reform for
various endogenous reasons. If such reforms are to work
effectively, however, Rieger and Leibfried claim that governments
must take into account the complex ways in which domestic social
policy and external economic policy are interconnected. They
maintain that the present climate provides a unique opportunity for
policy-makers to engage constructively with globalization, warning
that failure to think creatively about welfare in this context
could result in governments falling back into an unhelpful and
out-moded protectionist stance.
Drawing on case studies from Germany and the United States, Rieger and Leibfried show how welfare reform has worked in practice in the Western world. Contrasting these findings with the experience of East Asian states, they go on to argue that whilst welfare systems may appear to be similar, they function in different ways depending on the cultural setting. These cultural differences may condition the way in which welfare state regimesare able to mitigate the effects of globalization upon particular societies and economies.
We live in a time of transition, argues Yann Moulier Boutang. But the irony is that this is not a transition to a new type of society called 'socialism', as many on the Left had assumed; rather, it is a transition to a new type of capitalism. Socialism has been left behind by a new revolution in our midst. 'Globalization' effectively corresponds to the emergence, since 1975, of a third kind of capitalism. It does not have much to do with the industrial capitalism which, at the point of its birth (1750-1820), broke with earlier forms of mercantile capitalism. The aim of this book is to describe and explain the characteristics of this third age of capitalism.Boutang coins the term 'cognitive capitalism' to describe this new form of capitalism. While this notion remains a working hypothesis, it already provides some basic orientations and anchor points which are indispensible for political action. The political economy which was born with Adam Smith no longer offers us the possibility of understanding the reality which is being constructed before our eyes - namely the value, wealth and complexity of the world economic system o and it also does not enable us to deal with the challenges that await humanity, whether ecological or social. This book thus seeks to put us onto the path of a provisional politics and morality capable of dealing with this new Great Transformation.
This book is a collection of original essays grouped into four parts under the headings "Greece and European integration," "Issues in the Methodology of Economics," "Institutions and the Free Market Economy," and "Insights for Today from Ancient Greece." The essays appeal to both researchers in the corresponding fields of knowledge and also to policy makers who are looking for ideas and approaches to confront present day challenges. In particular, given the present state of turmoil in the European Union, the international economy, and democracies in general, most of the essays offer new insights for economic and social policies.
This book introduces embodied innovations into the circle of already recognised causes of economic crises. The author shows how issues of investment, accumulation and structural change associated with embodied innovations can be used to monitor potential crisis. The author argues that crises are predictable and manageable in depth.
Support strong assessment potential with this comprehensive Cambridge A Level Economics title. It directly matches the latest syllabus (9708) to ensure complete exam coverage. Up-to-date and international case studies will support understanding of current Economics practice, preparing students for assessment and their future careers. Specifically designed to give students confidence in their studies, and in preparation for their examination, it covers all the key concepts in the latest syllabus. In addition, you will receive online access to interactive activities to reinforce understanding and prepare students for exams.
The European economy is still in recession, even though there are some weak indications of stabilization. This book examines important aspects of the crisis in selected countries of Southern Europe, the Balkans and Eastern Europe. The intensity of the crisis and its economic and social repercussions have varied from country to country, generally impacting the core countries less than those on the periphery. The countries in the latter group currently face significant structural challenges with regard to improving productivity and competitiveness, including the areas of investment, climate, the labour market, and the public sector. The book not only illustrates the scope of the problem, but also informs readers on the policies implemented to address it, and discusses the progress some of the economies have already made. Special topics include the convergence hypothesis, agriculture and growth, Public-Private Partnership in Infrastructure (PPPI), and the labour market.
Beginning in 2010, there has been a consolidating cooperation among existing powers in the Euro-Mediterranean in face of the rapid de-stabilization of the Arab region. This fact alone accelerated the hesitant responses by the EU towards emerging hegemons, particularly Russia and China, who in-turn applied traditional mechanisms of increasing regional economic influence to bolster their political influence, but with the difference that a normative influence is missing, in contrast to the EU's and US' influence, which is strongly centered on universal norms pertaining to political, economic and social-cultural norms. This book examines the Arab Spring not only from its intra but also inter-regional geo-political and strategic implications by analyzing the Euro-Mediterranean region following the onset of the Arab Spring. It aims to connect the broader economic and political strands of power shifts that have taken place since the Arab Spring, making it of interests to political scientists and policy-makers concerned with the Mediterranean and Euro-Arab relations.
Over the past fifteen years, the optimal enforcement of EU competition law has become a major concern. This book contains a unique collection of articles by lawyers and economists on current issues in the public and private enforcement of competition law. Public enforcement has been strengthened in numerous ways for example, through the introduction of a leniency programme and a substantial increase in fines for competition law violations. At the same time the EU Commission has been promoting private enforcement for example, by developing a legal framework that grants victims of EU antitrust law infringements access to compensation.
The contributions in this book address a range of topics in the area of competition law enforcement, including the role of fines and leniency programmes in public enforcement; access to evidence and the quantification of damages in private enforcement; and the interaction between public and private enforcement of competition law in Europe."
What is the nature and role of competition in markets and politics? This book examines the institutional dimension of markets and the rules and institutions that condition the operation of market economies. Particular attention is paid to the the role of the state, specifically the role of governments in shaping and maintaining the economic constitution of their societies.
Provides an account of the discovery of oil in the Persian Gulf and the tension between domestic forces and international companies over the ownership of these resources, then examines price fluctuations from 1973 to 1998, analyzes dynamics of both demand and supply policies, and demonstrates the unique characteristics of the Gulf that will keep it as the major player in the oil industry well into the 21st century. Argues that the North Sea and Caspian Basin cannot replace the Gulf as the dominant player in energy politics.
This research focuses on the process of growth in the automobile industries in the ASEAN region. ASEAN is drawing attention both from the vantage point of its position as an automobile-producing region and as a potential automobile market. Thailand in particular has long treated automobile production as a national strategy, and this research puts considerable focus on Thailand's initiatives. Since 2012, the authors have been carrying out on-site surveys and have visited many of the suppliers that form the local automobile industry; this published research represents a summary of those findings. The fields of specialty of this study's respective authors differ, so analyses have been made from a range of vectors. In particular, the focus is on the supply chain in what is generally referred to as a keiretsu.
"One of the definite merits of this book is to cleverly mix a theoretical breakthrough with a meticulous historical and empirical account of the transformations of some key Latin American countries. First, it is at the frontier of a research agenda initiated back to the end of the 1970s, second it clearly distinguishes between an ideal-type approach and the complexity of any specific national configuration and its transformation in history. Furthermore, the author provides decisive arguments against a pure economic determinism too frequently supposed to govern institutions building and reforms. Last but not least, the book culminates by an impressive analysis of the crises that quite any Latin America society experiences at the end the 2010s." -Robert Boyer, Institut des Ameriques, Paris, France. This book defends the idea that there are significant structural and institutional differences between the countries in Latin America. Building off the results of a four-year research project, Bizberg argues against the idea that in Latin America there is one single type of capitalism-a hierarchical one-that is entangled in a vicious cycle. Rather, there are clusters of countries that have had similar historical trajectories, analogous structures, or comparable reactions to changes to the world economy, but have not all followed the same mode of development. Just as analysts have found a variety of capitalisms in developed countries, it is possible to identify the emergence of different types of capitalism in Latin America since the 1980s debt crisis. These varieties of capitalism are defined according to categories-including the articulation to the world economy, the role of the State, the structure of the political system and the action of civil society-which give rise to distinct wage relations, comprising the industrial relations system and the welfare regime.
The book is a critique of the capitalist world, including both the injustices it inflicts and the acts of resistance it provokes, which end up reproducing it. The book is also a critique of the ideas about this world, especially some of the ideas which are considered to be progressive. The book talks about why so-called critical thought as it exists is inadequate; why genuine critique is possible and necessary; what its different forms and attributes are; and who it is aimed toward: the masses or academia? This book presents what it considers to be the most adequate form of critique: the Marxist critique. This is a critique which explains humanity's problems, mainly in terms of the conflict-ridden social relations that determine how society's resources are used, which seeks to democratically transcend the current arrangements to establish popular democracy in all spheres of life; economic, political and cultural. The book then employs the principles of the Marxist critique to shed light on specific issues in the world as they exist or on the so-called progressive ideas about these issues, such as poverty and inequality in India; industrial disasters in the US; labour unfreedom in the capitalist North and South; the relation between economic and political power in modern society; social democracy; development of capitalism in rural areas and imperialism; pharmaceutical fraud and the consequent threat to human health in the US and the Maoist movement and protest politics (of the anarchist type' left) against dispossession and other forms of injustice.
The development and integration of financial markets is at the forefront of academic and policy debates around the world. Nowhere is this more in evidence than in Europe where the integration of financial markets is a primary objective of the European Commission and fully supported by the European Central Bank. This book brings together leading economists from across the world to analyse the central issues in the development and integration of financial markets from a European perspective whilst highlighting their global relevance. Financial Markets and Institutions is a must-have reference for policymakers, financial market practitioners, and graduate students and academics with an interest in this increasingly important area. Each contribution is written in a rigorous but non-technical fashion, drawing on the latest theories and empirical evidence making them accessible to lay readers as well as academic specialists.
This book offers unique insights into how Adam Smith understood globalization, and examines how he incorporated his knowledge of the world and globalization into his classical political economy. Although Smith lived in society that was far from globalized, he experienced the beginning of globalization. Smith considered the most developed society the commercial society: the society that results from people meeting with strangers. Among Enlightenment thinkers, Smith was one of the most important figures with respect to interaction in the world, and it is through his lens that the authors view the impact of the mixing of diverse peoples. Firstly, the book describes how Smith was influenced by information from around the world. Leaving eighteenth-century Europe, including Smith's native Scotland, people travelled, traded, and immigrated to far-flung parts of the globe, sometimes writing books and pamphlets about their travels. Informed by these writers, Smith took into consideration the world beyond Europe and strangers with non-European backgrounds. Against that background, the book reinterprets Smith's moral philosophy. In The Theory of Moral Sentiments, Smith developed his moral philosophy, in which he examined how people form opinions through their meetings with strangers. He researched how encounters with strangers created the sharing of social rules. As such, the book studies how Smith believed that people in dissimilar communities come to share common concepts of morality and justice. Lastly, it provides an innovative reading of Smith's political economy. In The Wealth of Nations, Smith established the market model of economic society. However, he saw the limitations of that model since it does not consider the impact of money on economy and international trade. He also recognized the limitations of his own equilibrium theory of market, the theory that is still influential today.
This book extends current research on the political economy of modern China, with particular regard to agricultural development and its role in economic transition. It uses Neoclassical principles to re-interpret agricultural growth and technological change under complex market institutions with empirical studies on China and selected East Asian economies. The text also questions how technological advances in China contribute to the Great Divergence debate. Through a comparative analysis of agricultural technical changes in the planting of rice paddies in Japan, Taiwan and China, Du finds that different market institutions and structures have given rise to considerable diversity of agricultural change between different economies in terms of the nature, timing and duration of technological transition. Such diversification has, in turn, affected the trajectories of agricultural and wider economic growth. Here, Du reflects on the nature of contemporary Chinese economic development and extends observations on agricultural transition to the entirety of Asia, finding that the nature, timing, and time-span of agriculture technology transitions have varied considerably across different economies.
Addressing the unprecedented international interest in China's high-speed railways, this book adopts a global perspective to examine the success of the system and probes into its going-global strategy in the context of the "Belt and Road" initiative, providing readers around the world a better understanding of infrastructure construction under the "Belt and Road" plan, as well as the global vision of communication and mutual exchange and prosperity among the countries along the Belt and Road route. The previous American President, Barack Obama, once told President Xi Jinping that there were two things about China that he particularly admired: the high-speed railway system, and the mathematics education. "The Belt and Road, and the Global Strategy of China's High-speed Rail" provides scholarly researchers and those generally interested in China's High-speed rail excellent insight into this impressive and rapid development.
This practical introduction explains the field of Blockchain Economics, the economic models emerging with the implementation of distributed ledger technology. These models are characterized by three factors: open platform business models, cryptotoken money supplies, and Initial Coin Offerings as a new and official form of financing. The book covers a variety of approaches from a business and academic perspective, ranging from financial theory, complexity, and open innovation networks to behavioral economics, self-determination theory, public policy, and financial inclusion.Unlike existing titles, this book draws on worldwide blockchain industry experts to define the new discipline of Blockchain Economics and provide novel theoretical and conceptual resources for the future of this fast-developing economy. The primer also highlights the wider theme of blockchain as an institutional technology, in that many value transfer interactions might be shifted to automated networks, decreasing the number of human-operated institutions.As well as stimulating further research, and implementation by business innovators and public policy strategists, the book can also be used as a foundational textbook in courses on Blockchain Economics. remove
"Bongiovanni's message should be heeded, especially in Brussels, Berlin and Paris" - John Peet, Political Editor, The Economist Francesco Bongiovanni returns with a sequel to The Decline and the Fall of Europe, a book Guardian journalist Nils Pratley labelled 'a wake-up call for the twenty-first century'. Since 2012 Europe has been confronted with new, unexpected game-changing challenges such as the refugee crisis and its human tsunami, the surprise of Brexit and the explosion of 'alternative' politics. Europeans have finally come to realize that the open-societies that they have been comfortably living in are under threat and fragmenting, leaving their survival uncertain. Minorities are falling prey to an Islamist ideology that conveys values and customs diametrically opposed to European ones. Terrorist acts have become the 'new normal', part of daily life. The North-South cleavage brought about by the eurozone crisis is now completed by a deep East-West cleavage born from the refugee crisis. Against this backdrop, a Germany that is not all that it seems has become Europe's de-facto ruler, but is unfit to lead, while Trump's America cannot be counted on as it once used to be, forcing Europe to fend for itself. A beacon of stability and prosperity in the past, a naive and unprepared Europe, facing new and terrifying challenges is today more than ever torn apart, increasingly unstable and adrift.
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