This book provides an introduction to advanced macrodynamics, viewed as a di- quilibriumtheoryof?uctuatinggrowth. Itbuildsonanearlierattempttoreformulate 1 the foundations of macroeconomics from the perspective of real markets diseq- librium and the con?ict over income distribution between capital and labor. It does so, not because it wants to support the view that this class con?ict is inevitable, but with the perspective that an understanding of this con?ict may help to formulate socio-economic principles and policies that can help to overcome class con?ict at least in its cruder forms or that can even lead to rationally understandable proce- 2 dures and rules that turn this con?ict into a consensus-driven interaction between 3 capitalists or their representatives and the employable workforce. The book starts from established theories of temporary equilibrium positions, the forces of real growth, and the con?ict over income distribution, represented by basic modeling approaches, which it considers in detail in its Part I in order to prepare the ground for their integration in Part II of the book. In this way we inspect what types of models of disequilibrium, income distribution, and real growth we have at our disposal, as models that have proved to be of real interest and sound from a rigorous modeling perspective.
Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume IV explores theory.
. . . this volume is a valuable collection that will provide much interest to both policy-makers and academics.' - Simon Sosvilla-Rivero, Economic Journal Money, Inflation and Employment examines issues of economic policy and theory through a series of original essays written in recognition of Sir James Ball's seminal contribution to macroeconomic modelling, forecasting and economic policy making. Contributions by leading policy makers focus primarily on the UK economy, with papers by Jeremy Bray, MP, on managing the economy, Alan Budd, Chief Economic Adviser to the Treasury, on exchange rate policy, Sir Terence Burns, Permanent Secretary to the Treasury, on the Treasury's responsibilities and character, and Bill Robinson on the effects of North Sea oil.
In this book on disequilibrium, growth and labor market dynamics we take predominantly a macroeconomic perspective. We present a working model that can easily be varied in different directions in order to subsume innovations in the literature on macroeconomics, old and new, and to contribute to important currently discussed macroeconomic issues. Our working model is set up in a way that there is a close relationship between our presented dynamic models and modern macro econometric models with disequilibrium both in the labor and the goods markets. One of our objectives is, therefore, to narrow the gap between theoretical and applied structural macrodynamic model building. We hope that the book will be a useful reference for all researchers, academic teachers and practitioners of macroeconomic and macro econometric model building who are interested in economic dynamics, independently of whether they use equilibrium or disequilibrium methods in their own research. We base this hope on the fact that our approach contains a number of unique features. The emphasis on the identification and analysis of the basic feedback mechanisms at work in modern macro economies. A detailed study of the partial as well as integrated dynamic interaction between these feedback mechanisms that consti tute the interdependence of markets and sectors of the modern macro economy. The rela tionship between the macroeconomic framework of our working model and the Walrasian, Non-Walrasian and New-Keynesian reformulations of macroeconomics.
This title was first published in 2003. Economists have had increasing success in arguing the merits of market-based approaches to environmental problems. By making polluting expensive, market-based approaches provide polluters with incentives to clean up, rather than mandates to stop polluting. These approaches include pollution taxes, transferable emissions permits and subsidies for pollution abatement. The purpose of this volume is to explore the situations where Command and Control (CAC) may not be all bad, and in fact might even have some advantages over market-based instruments (MBI).
All capitalist economies experience fluctuations in employment and economic activity around a long-term growth rate. How is this cyclical pattern of growth to be explained? Are the causes of fluctuations in output and employment to be found outside the system or are they intrinsic to the system? Will the long-term growth rate correspond to the growth of the labour force? It is the search for answers to these questions which motivates Peter Skott's analysis.
This new textbook provides students with a comprehensive and accessible introduction to the subject of security studies, with a strong emphasis on the use of case studies. In addition to presenting the major theoretical perspectives, the book examines a range of important and controversial topics in modern debates, covering both traditional military and non-military security issues, such as proliferation, humanitarian intervention, food security and environmental security. Unlike most standard textbooks, the volume also offers a wide range of case studies – including chapters on the USA, China, the Middle East, Russia, Africa, the Arctic, the Middle East, Europe and Latin America – providing detailed analyses of important global security issues. The 34 chapters contain pedagogical features such as textboxes, summary points and recommended further reading and are divided into five thematic sections: Conceptual and Theoretical Military Security Non-Military Security Institutions and Security Case Studies This textbook will be essential reading for all students of security studies and highly recommended for students of critical security studies, human security, peace and conflict studies, foreign policy and International Relations in general.
In the first part of this book, we treat interacting and small open economies. We do this from an historical perspective, starting from the Classical model of the gold standard and the specie-flow mechanism and aim to show there that the Dornbusch IS-LM-PC approach, with or without rational expectations, can still be considered as a (if not the) core contribution to contemporaneous open economy macrodynamics, also on the level of structural macroeconometric model building. In the second part we then extend this analysis to the incorporation of more disequilibrium on the real markets, prominent further feedback channels of the macrodynamic literature and integrated macromodel building. We start from the closed economy, consider large open economies in a fixed exchange rate system, small open economies subject to high capital mobility, and finally two large interacting economies like the USA and Euroland. Our macrofounded approach extends and integrates non-market clearing traditions to macrodynamics and can be usefully compared with the New Keynesian approaches which are generally rigorously microfounded, but often much more limited in scope in capturing full market and agent interactions.
An attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using tools from dynamic analysis, the text introduces a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing equilibrium dynamics.
From the war on terror to the global financial crisis, traditional concepts of world politics are being challenged on a daily basis. In these uncertain times, the study of international relations and the forces that shape them have never been more important. Written specifically for students who are approaching this subject for the first time, World Politics is the most accessible, coherent and up-to-date account of the field available. It covers the historical backdrop to today’s political situations, the complex interactions of states and non-state actors, the role of political economy, human security in all its forms, and the ways in which culture, religion and identity influence events. World Politics takes a new approach that challenges traditional interpretations, and will equip students with the knowledge and the confidence needed to tackle the big issues.
How can the successful development of some former Third World countries be explained, while other developing countries have remained stagnant or worse, have deteriorated into failed states? This book offers a history of the economics of development. De Haan examines how the right mix of policies and evolving insights in development economics have impacted certain countries with the progression from low-income to middle-income, and even high-income status. In particular middle-income countries encounter hindrances to transit into high-income countries. The challenges of low-income countries and those of fragile and failed states is elaborated as well. Due attention is given to successive generations of development economists, economic growth models and international trade theories to provide academic background to the evolution or stagnation of developing countries. The author’s own experience in development aid is woven into the text, making this book important and entertaining reading for researchers, students of development economics, international trade and international aid.
With a bold vision and a distinctive message, Reddy stipulates that international peacekeeping can be designed and implemented using the principles of restorative justice. To prove this, Reddy discusses the congruence of crime, armed conflict and violent disorder, critiquing restorative justice and its nuanced character as a suitable application to complex civil wars. This book provides a comprehensive survey of peace operations and then focuses on the cases of Somalia and Bougainville. The comparison between their societal contexts, their conflicts, peace operations and final outcomes are crucial to this argument. Furthermore, this shows how the constraining, maximising and emergent values of restorative justice can be applied in a peacekeeping setting, from the overall command level through to the behaviours of deployed peacekeepers - with direct contemporary application. This sharp study makes for evocative reading as it introduces the new concept of regeneration as key to any restoratively arranged peace operation. Military, police, NGO and civilian peacekeeper practitioners, as well as academic theorists, can use this unique work to produce better and more lasting results for conflict ridden communities.
The author notes in the preface that an opportunity for significant cuts in nuclear and conventional forces by major global powers has appeared. Presenting the evidence that the West can cope successfully with disarmament, he identifies policies which need to be adopted for that end.
This book presents an empirically grounded alternative to prevailing macroeconomic orthodoxy. Using evidence from behavioral economics and insights from Keynesian and institutionalist traditions, it is essential reading for graduate students, researchers and professional economists who have become critical of graduate-level macroeconomic theory"--
Joseph Halevi, Geoff Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume I analyses the contributions of Keynes, Harrod and Kalecki.
This book, the first of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia’s greatest ever economist. An insightful biography is accompanied with Swan’s most prominent articles to provide a broad view of his life and work. Particular attention is given to the famous Swan Diagram, known among macroeconomists worldwide, Swan’s four zones of economic unhappiness, his view of how economies grew based on capital deepening and technical progress, and the Solow-Swan model of economic growth. This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to students and researchers interested in the history of economic thought.
This book explains why complex systems research is important in understanding the structure, function and dynamics of complex natural and social phenomena. It illuminates how complex collective behavior emerges from the parts of a system, due to the interaction between the system and its environment. Readers will learn the basic concepts and methods of complex system research. The book is not highly technical mathematically, but teaches and uses the basic mathematical notions of dynamical system theory, making the book useful for students of science majors and graduate courses.
With interest in topics such as climate change, energy security, and alternative energy sources being at an all-time high, the effects of today's decisions now rest on the shoulders of future generations. There are no easy answers to our energy issues, so costs and benefits must be considered when evaluating all energy alternatives; alongside that, prices must be right and need to reflect the full social costs to society of a given source of energy. Energy Economics outlines the fundamental issues and possible solutions to the challenges of energy production and use, and presents a framework for energy decisions based upon sound economic analysis. It considers market forces and policy goals, including economic prosperity, environmental protection, and other considerations that affect societal well-being. This book focuses on both energy choices and the impact of these choices on market performance, environmental conditions, and sustainability. The initial section covers the fundamental economic concepts for analyzing energy markets. Following this, a detailed analysis of established energy sources, specifically fossil fuels and nuclear energy, leads into consideration of energy alternatives such as renewable energy and next-generation alternatives. Electricity production and regulatory trends are covered in depth. The final section considers policy: environmental considerations, sustainability, and energy security. The concluding chapter is a comprehensive vision for our energy future. Drawing on current energy headlines, perspectives familiar from the popular press, and views outside economics, this text sharpens students' ability to understand, evaluate, and critique policy using appropriate economic analysis. The text builds a foundation that culminates in a view of a comprehensive energy policy that improves upon the vacillations of past decades.
As a whole this book adds the ‘Keynes’-component (K) to the Goodwinian vision of a ‘MKS-System’. It first provides a reconsideration of prominent past approaches towards the formation of Keynesian macrodynamics. Ultimately it aims to integrate Marx's Distributive Cycle and aspects of Schumpeter's reformulation of socialism and democracy theory, with Keynes' macro-theory of a ‘Tripartite Market Hierarchy’. This regards financial markets as being at the top, followed by goods markets which in turn are followed by the weakest element, the labor markets. It is completed by certain repercussions that influence the central causal nexus of these three fundamental macro-markets in the longer-run.
A brand new collection of state-of-the-art guides to more effective supply chain management… 4 pioneering books, now in a convenient e-format, at a great price! 4 up-to-the-minute books help you build and optimize agile, flexible, efficient global supply chains — in the face of any challenge! As a supply chain or operations professional, you face unprecedented challenges in delivering the agile, resilient, efficient supply chain your company needs. This indispensable 4-book package gives you unprecedented resources, best practices, tools, and case studies for managing each of these challenges. Global Macrotrends and Their Impact on Supply Chain Management shows how to manage supply and demand in the face of massively disruptive emerging societal, technological, geopolitical, and environmental macro trends. You’ll find a complete decision framework and practical tools, insights, and guidance for systematically mitigating new risks and building long-term competitive advantage. Step by step, you’ll walk through assessing and responding to population growth, migration, urbanization; socioeconomic change, global connectivity, environmental issues, geopolitics, growing scarcity, transportation congestion, aging infrastructure, and more. Next, Supply Chain Network Design helps you use strategic network design techniques to drive dramatic new savings throughout your supply chain. The authors, who are experts at IBM and Northwestern University, combine rigorous principles and practical applications, helping you optimize the right number, location, territory, and size of warehouses, plants, and production lines; and optimize product flow through even the most complex global supply chains. They help you manage tradeoffs such as cost vs. service level, improve operational decision-making through analytics; and re-optimize regularly for even greater savings. Then, Demand and Supply Integration shows how to implement world-class demand forecasting management, and effectively integrate it into comprehensive Demand and Supply Integration (DSI) processes. You’ll learn how to recognize failures of demand/supply integration, approach Demand Forecasting as a management process, and choose and apply the best forecasting techniques. You’ll discover how to thoroughly reflect market intelligence in forecasts; measure forecasting performance; implement advanced demand forecasting systems; manage Demand Reviews, and more. Finally, The Supply Chain Management Casebook brings together 30 up-to-date, focused case studies illuminating every aspect of modern supply chain management — from procurement to warehousing, strategy to risk management, IT to supplier selection and ethics. Contributors present key challenges in industries ranging from pharmaceuticals to fashion, and preview issues ranging from the “limits of lean” to the potential of 3-D printing. Both qualitative and quantitative cases are included; quantitative cases are supported by completed numerical solutions, and, where applicable, associated spreadsheets. From supply chain experts Chad W. Autry, Thomas J. Goldsby, John E. Bell, Michael Watson, Sara Lewis, Peter Cacioppi, Jay Jayaraman, Mark A. Moon, and Chuck Munson
What is the life of a Palestinian worth to intellectuals in Canadian universities and news media? Analyzing the Israel Effect documents and analyzes the discursive and organizational methods by which public criticism of Israel’s oppression of the Palestinians is silenced in Canada, as experienced through ten episodes in the life of the author over a thirty-year period from 1990-2020 in interaction with his university and local and national Canadian news media. As a sociological work the book is a critical autoethnography. But it is also an atrocity tale, a horror story of institutional self-censorship amounting to the abrogation of intellectual responsibility by those specifically charged with upholding it. In the end, the book is a crossover between academic treatise and journalistic exposé, “a historical narrative written by an academic from the standpoint of a political participant-observer” (Rajan Philips). The Israel Effect itself is analyzed as a three-tier propaganda industry. Hasbara is produced in Israel (Tier 1), disseminated to Israel Lobby groups around the world (Tier 2) and independently re-produced, actively and passively, by the “intellectual” institutions – universities and news media (Tier 3). This book is about the non-Jewish, non-Zionist institutions of Tier 3, the onlookers to war crimes, ethnic cleansing and, arguably, genocide, as in Gaza in October-November 2023. This work stands as a compelling testament to the importance of preserving freedom of expression, and the vital role intellectuals play in challenging injustice and promoting transparency. It is ideal for scholars, activists, and anyone seeking to understand the complexities of political activism and the power dynamics behind public discourse.
The idea of a guaranteed minimum income has been central to British social policy debates for more than a century. Since the First World War, a variety of market economists, radical activists, and social reformers have emphasized the possibility of tackling poverty through direct cash transfers between the state and its citizens. As manufacturing employment has declined and wage inequality has grown since the 1970s, cash benefits and tax credits have become an important source of income for millions of working-age households, including many low-paid workers with children. The nature and purpose of these transfer payments, however, remain highly contested. Conservative and New Labour governments have used in-work benefits and conditionality requirements to 'activate' the unemployed and reinforce the incentives to take low-paid work - an approach which has reached its apogee in Universal Credit. By contrast, a growing number of campaigners have argued that the challenge of providing economic security in an age of automation would be better met by paying a Universal Basic Income to all citizens. Transfer State provides the first detailed history of guaranteed income proposals in modern Britain, which brings together intellectual history and archival research to show how the pursuit of an integrated tax and benefit system has shaped UK public policy since 1918. The result is a major new analysis of the role of cash transfers in the British welfare state which sets Universal Credit in a historical perspective and examines the cultural and political barriers to a Universal Basic Income.
Using strategic supply chain network design, companies can achieve dramatic savings from their supply chains. Now, experts at IBM and Northwestern University have brought together both the rigorous principles and the practical applications you need to master. You’ll learn how to use supply chain network design to select the right number, location, territory, and size of warehouses, plants, and production lines; and optimize the flow of all products through your supply chain even if extends around the globe. The authors present better ways to decide what to manufacture internally, where to make these products, which products to outsource, and which suppliers to use. They guide you in more effectively managing tradeoffs such as cost vs. service level, improving operational decision-making by integrating analytics throughout supply chain management; and re-optimizing regularly for even greater savings. Supply Chain Network Design combines best practices, the latest methods in optimization and analytics, and cutting-edge case studies: everything you need to maximize the value of supply chain network design. ¿ Replete with examples, cases, and best practices. Emerging Trends in Global Supply Chain Management fully illuminates the game-changing issues supply chain decision-makers now face. Three seasoned practitioners provide state-of-the-art answers and insights into questions like: How do you manage supply and demand in a world marked by demographic and economic shifts that turn your supply and demand markets upside down? How do you secure the supplies you need to sustain and grow your business when resources are severely constrained? Focusing on emerging societal, technological, geopolitical, and environmental macro trends that will powerfully impact every supply chain, they present a complete decision framework for anticipating and solving tomorrow's supply chain problems. Decision-makers will find practical tools, insights, and guidance for systematically mitigating risks and building long-term supply chain-based competitive advantage.
Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction between households, firms and government across labour, goods, money, bonds and equities markets. Chiarella and Flaschel demonstrate how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. In addition it investigates complex macrodynamic feedback mechanisms.
This book, the second of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia’s greatest ever economist. Some of Swan’s most prominent articles are presented alongside analysis of his work from leading historians of economic thought to provide a broad and insightful view of his work. Particular attention is given to Swan’s work on the balance of payments, economic development, capital accumulation, and the neoclassical growth model. This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to students and researchers interested in the history of economic thought and those that want to understand the foundations of modern macro, trade, and neoclassical economics.
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