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There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily due to characteristics inherent in the standard operation of capitalist institutions. Furthermore, the authors seek to explain the cycle of boom and bust by considering political and social factors often overlooked by conservative economists. This book also explores how wealth influences political policies in a way that increases economic inequality even more than its present level. Through analysis of American political and economic institutions, Inequality, Boom, and Bust presents concrete steps for an activist, progressive policy to greatly reduce inequality through free healthcare, free higher education, and reduced unemployment.
Japan was the first major non-western nation to take on board the Western technological and organizational advances of the century after the fist industrial revolution. It subsequently proved fully able to exploit and contribute to the broad, sustained technological advances that began in the twentieth century, as science became harnessed to technology. Japan's economic development remains a model for many technologically less advanced countries which have not yet mastered modern technology to organizational forms; and a knowledge of Japanese technological and economic history can contribute importantly to our understanding of economic growth in the modern era. This book studies the industrial development of Japan since the mid-nineteenth century, with particular emphasis on how the various industries built technological capabilities. The Japanese were extraordinarily creative in searching out and learning to use modern technologies, and the authors investigate the emergence of entrepreneurs who began new and risky businesses, how the business organizations evolved to cope with changing technological conditions, and how the managers, engineers and workers acquired organizational and technological skills through technology importation, learning-by-doing, and their own R&D activities. The book investigates the interaction between private entrepreneural activities and public policy, through a general examination of economic and industrial development, a study of the evolution of management systems, and six industrial case studies: textiles, iron and steel, electrical and communications equipment, automobiles, shipbuilding and aircraft, and pharmaceuticals. The authors show how the Japanese government has played an important supportive role in the continuing innovation, without being a substitute for aggressive business enterprise constantly venturing into unfamiliar terrains.
Economics has not given sufficient attention to the microeconomic analysis of innovation and technological change. Counteracting this imbalance, The Microeconomics of Product Innovation considers how the use of economic analysis can guide and inform the search for insight in the generation and adoption of new products synonymously labelled product innovation. Written in an accessible tone and restricting its analysis to the use of microeconomics, this book encompasses the definition of product innovation. It explores means of measurement and revealed patterns of the extent of product innovation; the economic analysis of the forces driving the demand for, the supply of, and incentives to generate new products; empirical evidence upon the determinants of the extent of product innovation; the diffusion of product innovations; product innovation and firm performance; price measurement under product innovation; product innovation and welfare; and public policy and product innovation.
This book focuses on the changing gender patterns of work in a global retail environment associated with the rise of contemporary retail and global sourcing. This has affected the working lives of hundreds of millions of workers in high-, middle- and low-income countries. The growth of contemporary retail has been driven by the commercialised production of many goods previously produced unpaid by women within the home. Sourcing is now largely undertaken through global value chains in low- or middle-income economies, using a 'cheap' feminised labour force to produce low-price goods. As women have been drawn into the labour force, households are increasingly dependent on the purchase of food and consumer goods, blurring the boundaries between paid and unpaid work. This book examines how gendered patterns of work have changed and explores the extent to which global retail opens up new channels to leverage more gender-equitable gains in sourcing countries.
Social enterprises represent a new kind of venture, dedicated to pursuing profits for owners and benefits for society. Social Enterprise Law provides tools that will allow them to raise the capital they need to flourish. Social Enterprise Law weaves innovation in contract and corporate governance into powerful protections against insiders sacrificing goals such as environmental sustainability in the pursuit of short-term profits. Creating a stable balance between financial returns and public benefits will allow social entrepreneurs to team up with impact investors that share their vision of a double bottom line. Brakman Reiser and Dean show how novel legal technologies can allow social enterprises to access capital markets, including unconventional sources such as crowdfunding. With its straightforward insights into complex areas of the law, the book shows how a social mission can even be shielded from the turbulence of an acquisition or bankruptcy. It also shows why, as the metrics available to measure the impact of social missions on individuals and communities become more sophisticated, such legal innovations will continue to become more robust. By providing a comprehensive survey of the U.S. laws and a bold vision for how legal institutions across the globe could be reformed, this book offers new insights and approaches to help social enterprises raise the capital they need to flourish. It offers a rich guide for students, entrepreneurs, investors, and practitioners.
The Third Edition continues to supply the building blocks of microeconomic analysis: a thorough treatment of optimization and equilibrium methods, coupled with numerous examples of their application. The Third Edition expands on the earlier editions in two ways. First, the coverage has been rewritten and rearranged. Second, chapters have been added on game theory, oligopoly, asset markets, and information economics. The new chapters fully update the text, highlighting significant developments of the last decade at a level that is accessible for first-year graduate students.
Microeconomic Foundations I develops the choice, price, and general equilibrium theory topics typically found in first-year theory sequences, but in deeper and more complete mathematical form than most standard texts provide. The objective is to take the reader from acquaintance with these foundational topics to something closer to mastery of the models and results connected to them. * Provides a rigorous treatment of some of the basic tools of economic modeling and reasoning, along with an assessment of the strengths and weaknesses of these tools * Complements standard texts * Covers choice, preference, and utility; structural properties of preferences and utility functions; basics of consumer demand; revealed preference and Afriat's Theorem; choice under uncertainty; dynamic choice; social choice and efficiency; competitive and profit-maximizing firms; expenditure minimization; demand theory (duality methods); producer and consumer surplus; aggregation; general equilibrium; efficiency and the core; GET, time, and uncertainty; and other topics * Features a free web-based student's guide, which gives solutions to approximately half the problems, and a limited-access instructor's manual, which provides solutions to the rest of the problems * Contains appendixes that review most of the specific mathematics employed in the book, including a from-first-principles treatment of dynamic programming
Ever wonder why colleges use GPAs, ACTs, and SATs for purposes of admission, or how supply and demand play out on a freeway, or what price has to do with being late to class, or how you might end up paying for good weather? ECONOMICS, 13E answers these questions and many more as this book opens up the world of economic analysis. This edition offers more detailed coverage of how economists build theories to explain everyday life than any other principles of economics text on the market. Memorable examples from pop culture illustrate the unexpected places economics occur and show you how economic forces link to every day events. This edition offers complete video assets to assist you in learning economics. There are short video lectures to assist you with key economic concepts and theories. In addition, Video Office Hours (longer video lectures) is a digital video asset that answers questions that students often have for their instructors during office hours. There are also videos assets - such as What's Wrong with this Diagram? "Working with Diagrams" and "Progression Graphs" that assist you in learning and working with all the diagrams that are in an economics principles course. A new Adaptive Test Prep available on MindTap Enables you to assess your personal economic understanding. Powerful digital resources, including Aplia and MindTap, work with the book's latest content to reflect today's changing economy and equip you with a thorough understanding of contemporary microeconomics.
The most reader-friendly economics approach available, MICROECONOMICS FOR TODAY, 10E by national award-winning educator Irvin Tucker presents Macro and Micro economic concepts using a writing style that is both engaging and clear, no matter what your current level of economic understanding. A unique presentation and visual learning system, colorful graphs, and Causation Chains clarify and illustrate important economic principles. The book concisely presents and reinforces core concepts, while online resources immediately facilitate assessment of understanding, and will study the latest information on economic growth, income distribution, federal deficits, environmental issues, and other developments in economics today. The book's easy-to-follow format demonstrates how to apply principles to your everyday life, while numerous printed and digital study tools help you further master key current economic principles.
The 2008 financial crisis, the rise of Trumpism and the other populist movements which have followed in their wake have grown out of the frustrations of those hurt by the economic policies advocated by conventional economists for generations. Despite this, textbooks continue to praise conventional policies such as deregulation and hyperglobalization. This textbook demonstrates how misleading it can be to apply oversimplified models of perfect competition to the real world. The math works well on college blackboards but not so well on the Main Streets of America. This volume explores the realities of oligopolies, the real impact of the minimum wage, the double-edged sword of free trade, and other ways in which powerful institutions cause distortions in the mainstream models. Bringing together the work of key scholars, such as Kahneman, Minsky, and Schumpeter, this book demonstrates how we should take into account the inefficiencies that arise due to asymmetric information, mental biases, unequal distribution of wealth and power, and the manipulation of demand. This textbook offers students a valuable introductory text with insights into the workings of real markets not just imaginary ones formulated by blackboard economists. A must-have for students studying the principles of economics as well as micro- and macroeconomics, this textbook redresses the existing imbalance in economic teaching. Instead of clinging to an ideology that only enriched the 1%, Komlos sketches the outline of a capitalism with a human face, an economy in which people live contented lives with dignity instead of focusing on GNP.
Complete mathematical support and numerous real-world examples make this the only text to provide an accessible and engaging overview of microeconomics, without compromising on the technical level. Examples are linked through each individual chapter and throughout the book to enable students to build understanding as they work through each chapter, and then apply what they have learned to other areas of microeconomics. A range of learning features, including mini-problems, theorems, definitions, and end-of-chapter exercises, complement the examples to help students to master advanced principles and techniques. Microeconomics is supported by a range of online resources, including: For registered adopters of the book: * Worked solutions to selected exercises in the book which can be distributed to students to illustrate the steps followed to complete the exercises * Figures from the book: available to download for use in lectures * A complete set of customizable PowerPoint slides to use as the basis for lectures, or as hand-outs in class * A solutions manual for all of the exercises in the book * Figures to accompany the solutions manual
Make peace, not war, with your home! Aching from another weekend playing home repair warrior? Tired of spending precious vacation time performing home maintenance heroics that you put off all year? Whether you love your home or hate it, spending a few minutes each week caring for it is essential to ensuring its livability and value now -- and the best sales price later. This book provides a sensible approach to regular home maintenance. It's a small commitment with a big payoff: spending a few minutes each week helps you avoid long-term preventable problems such as water damage, pests, and air infiltration that can cost you money now and even more money in the future. This book will actually save you cash by teaching you how easily you can prioritize and perform common maintenance tasks quickly and what to know before you call in a pro. You will learn the latest energy saving products, tips, and techniques to put money in your pocket right now. And you will be able to spend the money you save on that coveted man cave, kitchen remodel, or a brand new home. This book will help you: Manage tasks with handy month-by-month checklists; Organise records of parts, repairs, warranties, replacements, and phone numbers/contact information in one place; Troubleshoot problems step-by-step; Learn when to "do it yourself" and when to call in a pro; Assemble an inexpensive home maintenance toolbox; Preserve your investment and keep your home looking like new; Avoid costly mistakes. The tips in this book have been tested, used, and are recommended by professional builders and remodellers.
Clear, insightful, and nondogmatic, this book gives us a new appreciation for one of our most ubiquitous institutions.
This book introduces the main concepts of microeconomics to upper division undergraduate students or first year graduate students who have undergone at least one elementary calculus course. The book fully integrates graphical and mathematical concepts and offers over 150 analytical examples demonstrating numerical solutions.
The book has a strong theoretical basis but shows how microeconomics can be brought to bear on the real world. New Features for this edition include:
The book s style is accessible, but also rigorous. Mathematical examples are provided throughout the book, in particular for key concepts and the result is a balanced approach in terms of prose, graphics, and mathematics.
Microeconomics: Theory & Applications, 12th Edition provides students with the fundamental tools of analysis, and shows how these tools can be used to explain and predict phenomena. Written for both economics and business students, Edgar Browning and Mark Zupan present basic microeconomic principles in a clear and thorough way, using numerous applications to illustrate the use of theory, and reinforce students' understanding.
Concentrates on the seven countries which between them (excluding South Africa) account for 60 per cent of total manufacturing in sub-Saharan Africa. The contributors look at the role of manufacturing and industry in the development of these countries, arguing that future prosperity could be enhanced by a three-pronged approach to industrialisation. Published in association with the ODI
Microeconomics - individuals' choices of where to live and work, how much to save, what to buy, and firms' decisions about location, hiring, firing, and investment - involves issues that concern us on a daily basis. But when people think about economics, they tend to place importance on the bigger picture - macroeconomics - including issues such as unemployment, inflation, and the competitiveness of nations. In this Very Short Introduction, Avinash Dixit argues that the microeconomy has a large impact on the economic world, arguably as much as the issues of macroeconomics. Dixit steers a clear path through the huge number of issues related to microeconomics, explaining what happens when things go well, as well as showing how they fail, why that happens, and what can be done about it. Using real-life examples from around the world, using the minimum of mathematics and including simple graphs, he provides insights into economics from psychology and sociology to explain economic behaviour and rational choice. An ideal introduction for anyone interested in business and economics. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
The concept of general equilibrium, one of the central components of economic theory, explains the behavior of supply, demand, and prices by showing that supply and demand exist in balance through pricing mechanisms. The mathematical tools and properties for this theory have developed over time to accommodate and incorporate developments in economic theory, from multiple markets and economic agents to theories of production.
Yves Balasko offers an extensive, up-to-date look at the standard theory of general equilibrium, to which he has been a major contributor. This book explains how the equilibrium manifold approach can be usefully applied to the general equilibrium model, from basic consumer theory and exchange economies to models with private ownership of production. Balasko examines properties of the standard general equilibrium model that are beyond traditional existence and optimality. He applies the theory of smooth manifolds and mappings to the multiplicity of equilibrium solutions and related discontinuities of market prices. The economic concepts and differential topology methods presented in this book are accessible, clear, and relevant, and no prior knowledge of economic theory is necessary.
"General Equilibrium Theory of Value" offers a comprehensive foundation for the most current models of economic theory and is ideally suited for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.
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