“Spending is not the depletion of wealth, it is the transfer of ownership of money. And that transfer of ownership of money activates the economic activity that creates and maintains wealth.”……….. The classic work on Macroeconomics by John Maynard Keynes called “The General Theory of Employment, Interest and Money” is notoriously difficult to read. It was my initial goal to attempt to read and fully understand Keynes’ work and then to produce a study guide of sorts, in order to make his concepts more accessible. This attempt turned into a major project that took years to accomplish. I believe the result of that effort, this book, captures the essence of the most important concepts Keynes discovered. However, in the process I discovered that, in order to properly understand those concepts, new definitions for currently used terms and new ways of organizing macroeconomic models are necessary. One might think that attempts to do so would just make everything more complicated and difficult to understand, but the opposite is true. The way of organizing and explaining the concepts shown in this book leads to the development of a comprehensive and fully consistent model of macroeconomics, a model that is actually easier to understand. I hope you will agree.
Daniel Greene traces the emergence of the idea of cultural pluralism to the lived experiences of a group of Jewish college students and public intellectuals, including the philosopher Horace M. Kallen. These young Jews faced particular challenges as they sought to integrate themselves into the American academy and literary world of the early 20th century. At Harvard University, they founded an influential student organization known as the Menorah Association in 1906 and later the Menorah Journal, which became a leading voice of Jewish public opinion in the 1920s. In response to the idea that the American melting pot would erase all cultural differences, the Menorah Association advocated a pluralist America that would accommodate a thriving Jewish culture while bringing Jewishness into mainstream American life.
This work analyzes major ideas in political economy, summarizing historical and theoretical perspectives on the causes of economic growth in countries such as the United States, Japan and Western Europe. It includes a discussion of the effects of the showd
This book explores the evolution of the current U.S. research and development enterprise, asks whether this organization remains appropriate to the challenges we face today, and proposes strategies for better preparing for the global technology race shaping our future. Across the globe, nation states and societies, as well as corporations, technology developers, and even individuals, find themselves on the front lines of a global technology race. In the third decade of this century, the outlines of the contest have become clear. R&D spending, new methods such as innovation centers, and powerful technologies in governments and society are rapidly proliferating. Technology winners and losers are emerging. How did we arrive at this global technology fight? How and where will it be waged? What can we do to prepare for the future? Tech Wars examines the conditions that have led us to this point and introduces new strategies, organizational changes, and resource allocations that will help the United States respond to the challenges on the horizon.
Daniel Susskind traces the rich, surprisingly brief history of economic growth and responds to its ills. We cannot focus only on growth's upsides, but nor is degrowth a viable policy: the benefits of prosperity are too great to discard. Instead we must face tradeoffs, demoting growth from our top priority and reckoning with its moral challenges.
In this treasury of Gotham's secrets--some dark, some light, and some just plain weird--there are tales of underground sex clubs, a secret tunnel in Grand Central Station, an electrocuted elephant at Coney Island, and little-known bars, cafes, hangouts, and other places to frolic.
Written from a European perspective, this text offers coverage of all the key elements of international economics: trade, money and finance. A firm emphasis is placed on ensuring that students understand how the theory relates to real world examples, providing undergraduate students witheverything they need to understand this course. Empirical and Political detail is given close attention. International Economics contains 32 chapters split into 2 parts with part one covering International Trade and Part two covering International Money. A comprehensive online study guide for students will support the text with further This text is supported by an Online Resource Centre that includes a comprehensive study guide to assist students in reinforcing what they have learnt and preparing for exams.
A revolutionary new argument from eminent Yale Law professor Daniel Markovits attacking the false promise of meritocracy It is an axiom of American life that advantage should be earned through ability and effort. Even as the country divides itself at every turn, the meritocratic ideal – that social and economic rewards should follow achievement rather than breeding – reigns supreme. Both Democrats and Republicans insistently repeat meritocratic notions. Meritocracy cuts to the heart of who we are. It sustains the American dream. But what if, both up and down the social ladder, meritocracy is a sham? Today, meritocracy has become exactly what it was conceived to resist: a mechanism for the concentration and dynastic transmission of wealth and privilege across generations. Upward mobility has become a fantasy, and the embattled middle classes are now more likely to sink into the working poor than to rise into the professional elite. At the same time, meritocracy now ensnares even those who manage to claw their way to the top, requiring rich adults to work with crushing intensity, exploiting their expensive educations in order to extract a return. All this is not the result of deviations or retreats from meritocracy but rather stems directly from meritocracy’s successes. This is the radical argument that Daniel Markovits prosecutes with rare force. Markovits is well placed to expose the sham of meritocracy. Having spent his life at elite universities, he knows from the inside the corrosive system we are trapped within. Markovits also knows that, if we understand that meritocratic inequality produces near-universal harm, we can cure it. When The Meritocracy Trap reveals the inner workings of the meritocratic machine, it also illuminates the first steps outward, towards a new world that might once again afford dignity and prosperity to the American people.
A clear, comprehensive, and cutting-edge introduction to the field of information privacy law, with the latest cases and materials exploring issues of emerging technology, information privacy, algorithmic decisions, AI, data security, and European data protection law. New to the 8th Edition: Tighter editing and shorter chapters New sections about AI and algorithms in law enforcement (Chapter 4), consumer privacy (Chapter 9), and employment privacy (Chapter 12) New cases: MD Anderson, Loomis v. Wisconsin, Clearview AI Discussion of post-Carpenter cases Discussion of new FTC enforcement cases involving dark patterns and algorithm deletion Discussion of protections of reproductive health data after Dobbs Benefits for instructors and students: Extensive coverage of FTC privacy enforcement, HIPAA and HHS enforcement, and standing in privacy lawsuits, among other topics Chapters devoted exclusively to data security, national security, employment privacy, and education privacy Sections on government surveillance and freedom to explore ideas Engaging approach to complicated laws and regulations such as HIPAA, FCRA, ECPA, GDPR, and CCPA
The growth of the economy & the spread of prosperity are increasingly seen as problematic rather than positive. Prosperity is accused of encouraging greed, damaging the environment, causing unhappiness & widening social inequalities. The author argues that society benefits from greater affluence.
Is economics a science? What distinguishes it from other sciences, both natural and social? Like many of the natural sciences, its theories are mathematically complex. Yet, like the social sciences, its 'laws' are largely everyday generalizations. Can such generalizations, which are far from universal truths, constitute a science? Does economics have a distinctive method? The first edition answered these and other questions about the scientific status of economics and its underlying methodology. In this fully updated new edition, Dan Hausman reflects on developments in both economics and the philosophy of economics over the last thirty years. It includes a new chapter on the methodology of macroeconomics, an updated discussion on the use of models, and new discussions causal inference and behavioural economics and their implications for theory appraisal. It is the perfect choice for a new generation of students studying the methodology of modern economics.
How radical free-market ideas achieved mainstream dominance in postwar America and Britain Based on archival research and interviews with leading participants in the movement, Masters of the Universe traces the ascendancy of neoliberalism from the academy of interwar Europe to supremacy under Reagan and Thatcher and in the decades since. Daniel Stedman Jones argues that there was nothing inevitable about the victory of free-market politics. Far from being the story of the simple triumph of right-wing ideas, the neoliberal breakthrough was contingent on the economic crises of the 1970s and the acceptance of the need for new policies by the political left. This edition includes a new foreword in which the author addresses the relationship between intellectual history and the history of politics and policy. Fascinating, important, and timely, this is a book for anyone who wants to understand the history behind the Anglo-American love affair with the free market, as well as the origins of the current economic crisis.
A clear, comprehensive, and cutting-edge introduction to the field of information privacy law with a focus on the crucial topic of the protection of consumer interests. This volume is perfect for a full three-credit course or a seminar. Read the latest cases and materials exploring issues of emerging technology, information privacy, financial data, consumer data, and data security. New to the 4th Edition: Tighter editing and shorter chapters New case on facial recognition and the BIPA: Clearview AI Discussion of new FTC enforcement cases involving dark patterns and algorithm deletion Discussion of protections of reproductive health data after Dobbs New section on AI and algorithms New case on standing: TransUnion v. Ramirez New material about state consumer privacy laws
In the last quarter of the twentieth century, the ideas that most Americans lived by started to fragment. Mid-century concepts of national consensus, managed markets, gender and racial identities, citizen obligation, and historical memory became more fluid. Flexible markets pushed aside Keynesian macroeconomic structures. Racial and gender solidarity divided into multiple identities; community responsibility shrank to smaller circles. In this wide-ranging narrative, Daniel Rodgers shows how the collective purposes and meanings that had framed social debate became unhinged and uncertain. Age of Fracture offers a powerful reinterpretation of the ways in which the decades surrounding the 1980s changed America. Through a contagion of visions and metaphors, on both the intellectual right and the intellectual left, earlier notions of history and society that stressed solidity, collective institutions, and social circumstances gave way to a more individualized human nature that emphasized choice, agency, performance, and desire. On a broad canvas that includes Michel Foucault, Ronald Reagan, Judith Butler, Charles Murray, Jeffrey Sachs, and many more, Rodgers explains how structures of power came to seem less important than market choice and fluid selves. Cutting across the social and political arenas of late-twentieth-century life and thought, from economic theory and the culture wars to disputes over poverty, color-blindness, and sisterhood, Rodgers reveals how our categories of social reality have been fractured and destabilized. As we survey the intellectual wreckage of this war of ideas, we better understand the emergence of our present age of uncertainty.
Economist and Labor MP Daniel Mulino explains how the Australian welfare state was created - and what we need to do to protect and extend it The welfare state is one of the crowning achievements of the twentieth century, giving citizens access to healthcare, pensions, disability and unemployment benefits. This unprecedented expansion of the state was a product of the postwar period of the late 1940s, when governments ramped up investment in this grand safety net. By the 1970s, half of all government spending went towards social-welfare programs, but today the welfare state stands at a crossroads, beset by both political opposition and funding pressures as the population ages. Australian Labor Party MP Daniel Mulino provides a sweeping account of the history of welfare in Australia and abroad, from Bismarckian Germany to present-day Canberra. In this deeply researched and lucid account, Mulino looks to the challenges facing today's welfare state and reflects on what steps must be taken to protect and extend it. 'Knowledge and thoughtful analysis applied to crucial policy questions. Reassuring and inspiring after the federal election.' -Ross Garnaut 'A timely and comprehensive review of the history and future of the welfare state, and whether Australia's safety net is fit-for-purpose for the risks and challenges ahead' -Peter Dawkins, former vice-chancellor of Victoria University and former director of the Melbourne Institute 'A deep reflection on the contemporary management of social risk in democratic systems. This thoughtful and challenging book is essential reading for anyone concerned with the task of ensuring our social safety net is sustainable and adapted to the modern era.' -Emma Dawson, executive director of Per Capita 'Daniel Mulino chronicles in impressive, readable detail the global progress that societies have made in developing shock-absorbing social policies, and proposes further development in the footsteps of Australia's greatest social and economic reformers.' -Peter Harris, former chairman of the Australian Productivity Commission 'Social policies need to be shaped by policymakers as well as by scholars versed in economics and history. MP Daniel Mulino applies all these skills in fashioning this monumental work. It's all there: a complete set of practical experience-based recommendations for every kind of social insurance." -Professor Peter H. Lindert, University of California - Davis and author of Making Social Spending Work
As a new president takes over in Washington, three intertwined threats imperil the world. One is internal. The others are external. The internal threat is a potent and increasingly anti-patriotic, anti-competitive, anti-meritocratic, and sky-is-the-limit federal deficit spending political current that is simultaneously diminishing and destabilizing American and global economic vitality. The two major external threats are the rising military power of Russia, China, North Korea, and Iran and a global economic malaise sowing the seeds of discontent. America's role in containing the spread of new wave authoritarianism, and fostering competitiveness and global prosperity is critical, but domestic politics is preventing the Biden administration from adequately responding to these challenges. Biden's America is adrift.America is key to the survival of the free world. America is currently a beleaguered superpower. This book is possibly the first to address the politics shaping the likely course of America's new president in world affairs. It is politics, not idealist and realist abstractions, which determine international security. The world is concerned about what course Biden will take and the likely consequences. It will be the most carefully researched of such books.The book deals explicitly and extensively with issues such as spreading authoritarianism, the emerging new Cold War, global growth retardation, civic discord, economic sanctions, arms control, soft power and the deteriorating correlation of forces. The China weapons section of the book draws from the latest assessment made by the American Department of Defense. The book also includes a section on China's new technology generating innovation model and a chapter on Covid-19.
The majority of empirical research in economics ignores the potential benefits of nonparametric methods, while the majority of advances in nonparametric theory ignore the problems faced in applied econometrics. This book helps bridge this gap between applied economists and theoretical nonparametric econometricians. It discusses in depth, and in terms that someone with only one year of graduate econometrics can understand, basic to advanced nonparametric methods. The analysis starts with density estimation and motivates the procedures through methods that should be familiar to the reader. It then moves on to kernel regression, estimation with discrete data, and advanced methods such as estimation with panel data and instrumental variables models. The book pays close attention to the issues that arise with programming, computing speed, and application. In each chapter, the methods discussed are applied to actual data, paying attention to presentation of results and potential pitfalls.
Economic development in Africa in the age of globalization is written for use at the university level in economic development, political economy, agricultural economics, poverty and health economics. The text provides basis for poverty in Africa then defines poverty and provides the determinants of poverty. The first part describes how agricultural development is crucial to alleviation of poverty. The text provides relevant economic theories that claim to define economic development and critically examines their applicability on alleviation of poverty in Africa. The text then provides two mathematical models that illustrate the determinants of poverty based on prices of commodities and an alternative model that is used to represent the maximization of rural household income which results in minimization of poverty. In the conclusion, the text emphasizes how HIV/AIDS has evolved from an health issue to a developmental crises resulting in perpetuated poverty in Africa.
This book summarizes the evolution of modern macroeconomics (New Consensus Macroeconomics, NCM) and proposes a new approach to theoretical and empirical analysis, which is based on a recently developed dynamic stochastic general equilibrium (DSGE) model. Dynamic macroeconomic analysis in emerging market economies is challenging, and of growing importance in the global economy, where emerging markets are becoming more and more influential. Clearly, a deeper understanding of the inner workings of emerging economies, particularly with respect to their socioeconomic structure and the urbanization process, is needed. The book’s extends the NCM/DSGE model to better account for significant economic and social features in emerging market economies. In particular, household heterogeneities and social stratification are explicitly incorporated into the framework proposed here, substantially enhancing the comprehensiveness of the model economy, and allowing it to better account for underlying social structure in emerging economies. Furthermore, financial and housing markets have not been considered sufficiently in either the advanced or emerging economy literature, an oversight this book remedies. As such, it makes an original and valuable contribution to the field, and a direction for future research.
In the 250 years before the Civil War, the Great Dismal Swamp of Virginia and North Carolina was a brutal landscape—2,000 square miles of undeveloped and unforgiving wetlands, peat bogs, impenetrable foliage, and dangerous creatures. It was also a protective refuge for marginalized communities, including Native Americans, African-American maroons, free African Americans, and outcast Europeans. Here they created their own way of life, free of the exploitation and alienation they had escaped. In the first thorough examination of this vital site, Daniel Sayers examines the area’s archaeological record, exposing and unraveling the complex social and economic systems developed by these defiant communities that thrived on the periphery. He develops an analytical framework based on the complex interplay between alienation, diasporic exile, uneven geographical development, and modes of production to argue that colonialism and slavery inevitably created sustained critiques of American capitalism.
Combines academic theory with practical industry experience Updated to include the latest regulations and references Covers hazard identification, risk assessment, and inherent safety Case studies and problem sets enhance learning Long-awaited revision of the industry best seller. This fully revised second edition of Chemical Process Safety: Fundamentals with Applications combines rigorous academic methods with real-life industrial experience to create a unique resource for students and professionals alike. The primary focus on technical fundamentals of chemical process safety provides a solid groundwork for understanding, with full coverage of both prevention and mitigation measures. Subjects include: Toxicology and industrial hygiene Vapor and liquid releases and dispersion modeling Flammability characterization Relief and explosion venting In addition to an overview of government regulations, the book introduces the resources of the AICHE Center for Chemical Process Safety library. Guidelines are offered for hazard identification and risk assessment. The book concludes with case histories drawn directly from the authors' experience in the field. A perfect reference for industry professionals, Chemical Process Safety: Fundamentals with Applications, Second Edition is also ideal for teaching at the graduate and senior undergraduate levels. Each chapter includes 30 problems, and a solutions manual is now available for instructors.
The aim of this book is to consider theoretically the notion of the global competitiveness of regions, as well as giving attention as to how such competitiveness may be empirically measured. With this in mind, the book has three specific objectives: first, to place the concept of regional competitiveness within the context of regional economic development theory; second, to present a rationale and method for quantifying the global competitiveness of regions; and, third, to undertake the most geographically widespread analysis of regional competitiveness differences across the globe. With regard to the third goal, the analysis incorporates more than 500 regions across Europe, North and South America, Asia-Pacific, the Middle East, and the so-called BRIC economies of Brazil, Russia, India, and China. The importance of the concept of competitiveness has increased rapidly in recent years, with the issues surrounding it becoming, at the same time, more empirically refined and theoretically complex. The focus on regions reflects the growing consensus that they are the primary spatial units that compete to attract investment, and it is at the regional level that knowledge is circulated and transferred, resulting in agglomerations, or clusters, of industrial and service sector enterprises. This growing acknowledgement of the region’s role as a key spatial unit of organisation has led to attention turning to competitiveness at a more regional level. The book explores the results of the World Competitiveness Index of Regions (WCIR), covering the rankings and results of the 2014 edition. The WCIR provides a tool for analysing the development of a range of regional economies across the globe. It enables an illustration of the changing patterns of regional competitiveness on the international stage to be generated. In fundamental terms, the WCIR aims to produce an integrated and overall benchmark of the knowledge capacity, capability, and sustainability of each region, and the extent to which this knowledge is translated into economic value and transferred into the wealth of the citizens of each region.
The authors present a database of indicators of innovative activity around the world since the early 1960s. The data include measures of innovation outcomes as well as variables related to innovation effort. The main indicator of innovation outputs is patents. The main variables related to innovation inputs are investment in research and development (R&D) and technical personnel (engineers, scientists) working in R&D activities. The sources of these data are publicly available (OECD, UNESCO, etc.), yet there have been few attempts at double checking the consistency of these data and digitizing observations dating back to the 1960s. After discussing the sources and definitions of the data, the authors examine trends and patterns of innovation outputs and inputs by looking at the over-time behavior of the relevant series and comparing the performance of developing and high-income countries. They also provide cross-regional comparisons and a detailed examination of trends in selected countries. In turn, the authors provide estimates of the impact of innovation on long-run development by following an emerging empirical literature on the determinants of levels of GDP per capita. The econometric results suggest that innovation might indeed have strong positive effects on long-run development, which might be stronger than the direct effects of institutions. The analysis pays close attention to issues related to the potential endogeneity of innovation (and institutions) with respect to the level of development. "--World Bank web site.
Statistical Methods in the Atmospheric Sciences, Third Edition, explains the latest statistical methods used to describe, analyze, test, and forecast atmospheric data. This revised and expanded text is intended to help students understand and communicate what their data sets have to say, or to make sense of the scientific literature in meteorology, climatology, and related disciplines. In this new edition, what was a single chapter on multivariate statistics has been expanded to a full six chapters on this important topic. Other chapters have also been revised and cover exploratory data analysis, probability distributions, hypothesis testing, statistical weather forecasting, forecast verification, and time series analysis. There is now an expanded treatment of resampling tests and key analysis techniques, an updated discussion on ensemble forecasting, and a detailed chapter on forecast verification. In addition, the book includes new sections on maximum likelihood and on statistical simulation and contains current references to original research. Students will benefit from pedagogical features including worked examples, end-of-chapter exercises with separate solutions, and numerous illustrations and equations. This book will be of interest to researchers and students in the atmospheric sciences, including meteorology, climatology, and other geophysical disciplines. - Accessible presentation and explanation of techniques for atmospheric data summarization, analysis, testing and forecasting - Many worked examples - End-of-chapter exercises, with answers provided
How violence, rather than peace, has historically accompanied prosperity; and why emerging nations seem poised to repeat the tragic history of the industrialized world. What happened yesterday in the West is today being repeated on a global scale. Industrial society is replacing rural society: millions of peasants in China, India, and elsewhere are leaving the countryside and going to the city. New powers are emerging and rivalries are exacerbated as competition increases for control of raw materials. Contrary to what believers in the “clash of civilizations” maintain, the great risk of the twenty-first century is not a confrontation between cultures but a repetition of history. In The Prosperity of Vice, the influential French economist Daniel Cohen shows that violence, rather than peace, has been the historical accompaniment to prosperity. Peace in Europe came only after the barbaric wars of the twentieth century, not as the outcome of economic growth. What will happen this time for today's eagerly Westernizing emerging nations? Cohen guides us through history, describing the European discovery of the “philosopher's stone”: the possibility of perpetual growth. But the consequences of addiction to growth are dire in an era of globalization. If a billion Chinese consume a billion cars, the future of the planet is threatened. But, Cohen points out, there is another kind of globalization: the immaterial globalization enabled by the Internet. It is still possible, he argues, that the cyber-world will create a new awareness of global solidarity. It even may help us accomplish a formidable cognitive task, as immense as that realized during the Industrial Revolution—one that would allow us learn to live within the limits of a solitary planet.
The growth of the economy and the spread of prosperity are increasingly seen as problematic rather than positive - a trend Daniel Ben-Ami has termed 'growth scepticism'. Prosperity is accused of encourage greed, damaging the environment, causing unhappiness and widening social inequalities. Ferraris for all: A defence of economic progress is a rejoinder to the growth sceptics. Using examples from a range of countries, including the US, the author argues that society as a whole benefits from greater affluence. Action is needed - but to increase abundance and spread it worldwide, not to limit prosperity, as the sceptics would have it. The lively and provocative hardback edition was published to widespread coverage in 2010, and triggered debate and dissent in equal measure.
This book is the culmination of roughly seven years of joint research be tween us. We have both been interested in income inequality measurement for a considerably longer period of time. One author (Ryu) has a back ground in physics. While he was working on his Ph. D. in Physics at M. I. T. he became acquainted with Robert Solow. Professor Solow introduced Ryu to economics. After finishing his Ph. D. in physics, Ryu went on to the Uni versity of Chicago where Arnold Zellner guided him to a dissertation on using orthonormal basis and maximum entropy as estimation methods in econometric applications. The precise definition and examples of orthonormal basis (ONB) and maximum entropy (ME) methods will be given in the book. As it turns out, a natural application of these methods is the study of income distribution. Professor Zellner suggested that Ryu look at some of my joint work with Robert Basmann on functional forms of Lorenz curves as one starting place to do his own research. Ryu requested some of our data and asked for several of our papers with the express pur pose of introducing functional forms of Lorenz curves that Ryu felt would do a better job of approximating the empirical Lorenz curve. Thus, our first introduction was essentially one of Ryu trying to invent a better mousetrap. The interested reader can review the results given in Basmann et al. (1990) and Chapter Four of this book to see if Ryu succeeded.
This 2006 book shows through accessible argument and numerous examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores rationality and its connections to morality. It argues that in defending their model of rationality, mainstream economists implicitly espouse contestable moral principles. Part II concerns welfare, utilitarianism and standard welfare economics, while Part III considers important moral notions that are left out of standard welfare economics, such as freedom, rights, equality, and justice. Part III also emphasizes the variety of moral considerations that are relevant to evaluating policies. Part IV then introduces technical work in social choice theory and game theory that is guided by ethical concepts and relevant to moral theorizing. Chapters include recommended readings and the book includes a glossary of relevant terms.
Organizing his work thematically to explore important ideas and trends that have influenced the social sciences since World War II, Bell charts the rise and fall of major developments in the field and presents a comprehensive survey of the progress of the social sciences over this thirty-five year period.
Scholars in philosophy, law, economics and other fields have widely debated how science, environmental precaution, and economic interests should be balanced in urgent contemporary problems, such as climate change. One controversial focus of these discussions is the precautionary principle, according to which scientific uncertainty should not be a reason for delay in the face of serious threats to the environment or health. While the precautionary principle has been very influential, no generally accepted definition of it exists and critics charge that it is incoherent or hopelessly vague. This book presents and defends an interpretation of the precautionary principle from the perspective of philosophy of science, looking particularly at how it connects to decisions, scientific procedures, and evidence. Through careful analysis of numerous case studies, it shows how this interpretation leads to important insights on scientific uncertainty, intergenerational justice, and the relationship between values and policy-relevant science.
For almost as long as economics has been a profession, the role of natural resources in the promotion of economic growth has been among the core issues of development theory. Some newer theories suggest that natural riches produce institutional weaknesses as various social groups attempt to capture the economic rents derived from the exploitation of natural resources. Since the 1960s, some analysts have argued that resource-rich developing countries have grown more slowly than other developing countries. Nevertheless, we find ourselves in a time when conventional wisdom again postulates that natural resources are indeed riches. This book brings together a variety of analytical perspectives, ranging from econometric analyses of economic growth to historical studies of successful development experiences in countries with abundant natural resources. The evidence suggests that natural resources are neither a curse nor destiny. Natural resources can actually spur economic development when combined with the accumulation of knowledge for economic innovation. Furthermore, natural resource abundance need not be the only determinant of the structure of trade in developing countries. In fact, the accumulation of knowledge, infrastructure, and the quality of governance all seem to determine not only what countries produce and export, but how firms and workers produce any good.
This will help us customize your experience to showcase the most relevant content to your age group
Please select from below
Login
Not registered?
Sign up
Already registered?
Success – Your message will goes here
We'd love to hear from you!
Thank you for visiting our website. Would you like to provide feedback on how we could improve your experience?
This site does not use any third party cookies with one exception — it uses cookies from Google to deliver its services and to analyze traffic.Learn More.