Known for its clarity, comprehensiveness, and balance, the latest edition of A History of Economic Theory and Method continues that tradition of excellence. Ekelund and Hébert’s survey provides historical and international contexts for how economic models have served social needs throughout the centuries—beginning with the ancient Greeks through the present time. The authors not only trace ideas that have persisted but skillfully demonstrate that past, discredited ideas also have a way of spawning critical thinking and encouraging new directions in economic analysis. Coverage that distinguishes the Sixth Edition from its predecessors includes a detailed analysis of economic solutions by John Stuart Mill and Edwin Chadwick to problems raised by the Industrial Revolution; the role of psychology and “experiments” in understanding demand and consumer behavior; discussions of modern economic theory as it interrelates with other social sciences; and a close look at the historical development of the critical role of entrepreneurship, both in its productive and unproductive variants. The authors’ creative approach gives readers a feel for the thought processes of the great minds in economics and underscores key ideas impacting contemporary thought and practice. Well-crafted discussions are further enriched by absorbing examples and figures. Thorough suggested reading lists give options for more in-depth explorations by interested readers.
This book establishes a chronological trace of the entrepreneur as treated in economic literature in order to give a more wholesome perspective to contemporary writings and teachings on entrepreneurship. It focuses on the nature and role of the entrepreneur, and of entrepreneurship, as revealed in economic literature as early as the eighteenth century, when Richard Cantillon first coined the term 'entrepreneur'. The authors then trace how Joseph Schumpeter's perspective, among other’s, on entrepreneurship came to dominate the world's understanding of the term. Due to Schumpeter’s dominant influence, entrepreneurship has come to occupy a primary role in the theory of economic development. In this book Hébert and Link discuss various key topics including the German Tradition, the Austrian and the English School of thought as well as individuals such as Alfred Marshall and Jeremy Bentham. The historical survey also illustrates the tension that often exists between "theory" and "practice" and how it has been difficult for economic theory to assimilate a core concept that plays a vital role in social and economic change. Finally, the book exposes the many different facets of entrepreneurship as they have been perceived by some of the great economists throughout the ages.
This landmark research volume provides the first detailed history of entrepreneurship in Britain from the nineteenth century to the present. Using a remarkable new database of more than nine million entrepreneurs, it gives new understanding to the development of Britain as the world’s ‘first industrial nation’. Based on the first long-term whole-population analysis of British small business, it uses novel methods to identify from the 10-yearly population census the two to four million people per year who operated businesses in the period 1851–1911. Using big data analytics, it reveals how British businesses evolved over time, supplementing the census-derived data on individuals with other sources on companies and business histories. By comparing to modern data, it reveals how the late-Victorian period was a ‘golden age’ for smaller and medium-sized business, driven by family firms, the accelerating participation of women and the increasing use of incorporation as significant vehicles for development. A unique resource and citation for future research on entrepreneurship, of crucial significance to economic development policies for small business around the world, and above all the key entry point for researchers to the database which is deposited at the UK Data Archive, this major publication will change our understanding of the scale and economic significance of small businesses in the nineteenth century.
This fifth edition of ANNUAL EDITIONS: ENTREPRENEURSHIP provides convenient, inexpensive access to current articles selected from the best of the public press. Organizational features include: an annotated listing of selected World Wide Web sites; an annotated table of contents; a topic guide; a general introduction; brief overviews for each section; a topical index; and an instructor’s resource guide with testing materials. USING ANNUAL EDITIONS IN THE CLASSROOM is offered as a practical guide for instructors. ANNUAL EDITIONS titles are supported by our student website, www.dushkin.com/online.
Among the great pitchers in baseball history, Charles "Deacon" Phillippe and Samuel "The Schoolmaster" Leever are hardly household names. But during the first decade of the twentieth century, these two Pittsburgh Pirates were among the most celebrated pitchers in the majors. From 1900 through 1906, they posted a combined record of 261 victories against 131 losses for a win-loss percentage of .666. During the years Deacon and the Schoolmaster pitched together, the Pirates never finished out of the first division, won four National League pennants, and came in second four times. Without flamboyance or controversy to color their legacy, their fame faded quickly after their playing days. But they remain among the most important players in the history of the club.
The purpose of this book is three-fold. The first purpose is to posit that the fundamental substance of the universe is energy, and that energy is required (consumed) for any material transformation, or information transmission. The labor theory of value, articulated by the physiocrats and elaborated by Adam Smith, David Ricardo, J.B. Say and Karl Marx was a rough first approximation of the value creation process, in the 17th and 18th centuries, but is now obsolete. Labor is now (mostly) performed by machines, not by humans (or animals). The second aim of the book is to argue that the economy is a living (open) system -- an “island of order” –that exists far from both thermodynamic and economic equilibrium. Order is achieved by dissipating a flux of exergy. Economists frequently emphasize the equilibrium assumption, introduced originally by Leon Walras in 1854. But in reality, biological systems and human social systems are dissipative cycles, far from both thermodynamic equilibrium, and economic equilibrium, yet stable and capable of evolution, driven by the solar exergy flux. The third aim of the book is to re-emphasize, that – being open – the economic system cannot be regarded as a collection of individual competitive utility-maximizing transactions. There are, increasingly, important possibilities for cooperation instead of competition. Moreover third party effects, both “bads” (externalities) and the “public good” (happiness) – need to be incorporated into the socio-economic decision making process.
In the context of the changing nature of universities, this book discusses the progression of enterprise and entrepreneurship education, and conceptualises ‘best practice’ with the aim of enhancing teaching and support for entrepreneurs. Including an overview of entrepreneurship, teaching entrepreneurship, enterprising universities and industrial ecosystems, the author also discusses stakeholder theory and analysis, concluding with a perspective on effective and enterprising learning spaces. An insightful read for researchers, educators and policy-makers, this comprehensive overview provides up-to-date literature and case studies to describe the need for entrepreneurship education, its growth, the influence of key institutional stakeholders, and the future of programme delivery and assessment.
Grant B. Cooper is remembered as one of the most prolific attorneys of twentieth-century America. He made courtroom history in his effort to secure the first death penalty conviction under the Little Lindbergh Law. He became internationally known as the attorney for Dr. Bernard Finch, who was accused of murdering his wife, and as the attorney for the infamous Sirhan Sirhan, the man who assassinated presidential candidate Robert F. Kennedy. An exceptional man both in and out of the courtroom, Grant was born into a family that has served the United States for generations. He soared as a charismatic, intelligent attorney unafraid of taking on the politics and policework driven by the mob in 1940s Los Angeles, then characterized by the United States Attorney General as “the most corrupt city in America.” Grant etched himself into America’s history as one of the finest attorneys this country has ever known. Scrupulously researched and epic in scope, Grant Justice brings alive not only the most scandalous trials of the 1900s, but the man who made them his life.
Using documents previously unavailable in English, the authors present a cohesive and original picture of French economic thought that solidly documents the contributions of Dupuit and his colleagues. Ekelund and Hebert build their argument by focusing on the development of economic theory in the peculiar milieu of postrevolutionary France in an attempt to identify the essence of the French contribution and the extent to which the French legacy benefited other economists of international acclaim. They conclude that the kinds of issues in economic theory and policy that Dupuit and his colleagues found arresting and worthy of analysis in the nineteenth century are still pertinent today and will continue to interest economists into the twenty-first century. This seminal work will be of great importance to historians of economics and all economists interested in the foundations of modern microeconomics.
Economics can help us understand the evolution and development of religion, from the market penetration of the Reformation to an exploration of today's hot-button issues including evolution and gay marriage. This startlingly original (and sure to be controversial) account of the evolution of Christianity shows that the economics of religion has little to do with counting the money in the collection basket and much to do with understanding the background of today's religious and political divisions. Since religion is a set of organized beliefs, and a church is an organized body of worshippers, it's natural to use a science that seeks to explain the behavior of organizations—economics—to understand the development of organized religion. The Marketplace of Christianity applies the tools of economic theory to illuminate the emergence of Protestantism in the sixteenth century and to examine contemporary religion-influenced issues, including evolution and gay marriage. The Protestant Reformation, the authors argue, can be seen as a successful penetration of a religious market dominated by a monopoly firm—the Catholic Church. The Ninety-five Theses nailed to the church door in Wittenberg by Martin Luther raised the level of competition within Christianity to a breaking point. The Counter-Reformation, the Catholic reaction, continued the competitive process, which came to include "product differentiation" in the form of doctrinal and organizational innovation. Economic theory shows us how Christianity evolved to satisfy the changing demands of consumers—worshippers. The authors of The Marketplace of Christianity avoid value judgments about religion. They take preferences for religion as given and analyze its observable effects on society and the individual. They provide the reader with clear and nontechnical background information on economics and the economics of religion before focusing on the Reformation and its aftermath. Their analysis of contemporary hot-button issues—science vs. religion, liberal vs. conservative, clerical celibacy, women and gay clergy, gay marriage—offers a vivid illustration of the potential of economic analysis to contribute to our understanding of religion.
Capitalism is under attack. Defenders say that capitalism has raised billions of people from poverty. But a central activity of capitalism today, Wall Street style, is speculation (gambling), using other people’s money, and privatizing the profits while socializing the debts. Skeptics argue that capitalism has redistributed the wealth of the planet in favor of a very few, meanwhile leaving the planet in bad shape and leaving billions of people out in the cold. Wealth is now extremely mal-distributed, opportunity is far from equal, and upward social mobility has declined significantly in recent decades. This book reviews the evidence and arguments pro and con in considerable detail. The evidence is mixed. The main virtue of capitalism is its emphasis on competition as a driver of innovation and, thus, of economic growth. It is true that economic growth has accelerated in recent centuries, and it is true that billions of people have been lifted from poverty. But it is not necessarily true that intense “winner take all” competition in the marketplace is the explanation for growth. Neoclassical economic theory posits that self-interest is the primary motive for all economic decisions, leaving little room for cooperation and even less for altruism. The theory applies to an unrealistic “model” of human behavior, known as Homo economicus or “economic man”, whose characteristic activity is buying or selling. The reason for using the adjective word “social” – as in socialism” or “social service” or “social democracy” -- is, essentially, to deny those postulates of standard economic theory. Real humans are not rational utility maximizers (whatever that is) and very often do things that are not in their own personal best interests. This can happen because other interests, such as family loyalty, professional, religious, or patriotic duty, may take precedence. Real people rarely behave like Homo economicus, who has rivals but no friends. He (or she) does not trust anyone, hence cannot cooperate with others, and can never create, or live in, a viable social system (or marriage). Yet social systems, ranging from families and tribes to firms, cities, and nations do (and must) exist or civilization cannot exist. A viable social system must not allow “winner takes all”. It must reallocate some of the societal wealth being created by competitive activities to support the young, the old and the weak, because all of those people have equal rights, if not the same luck or the same skills. Both competition and cooperation have important roles to play. A hybrid capitalism involving both is the only viable solution. The book ends with a specific suggestion, namely Universal Basic Income, or UBI.
In 2011, Emerick, an ordained minister in the United Methodist Church and a licensed clinical social worker, embarked on a self-directed study to educate himself about the nation's principal political disputes. He discovered that America's dominant political and economic theories...are... pitting the demands of the individual against the needs of the community. But in the Constitution's preamble... the concerns of individual liberty and the general welfare are given equal weight, and a more equitable national philosophy will...combine the two. [He] also... discovers, contrary to the opinions of many, that the federal government's active role in fiscal affairs can have a stimulating effect...and trickle-down economics has largely been a failure... [Emerick] makes an... attempt to reconcile political polarities, offering a way to structure an economy that...he calls a 'Preamble Economy'. In the second part of the book, the author argues that Christianity has drifted away from the true ministry of Jesus, replacing his core message of love with errant institutional doctrine. [Emerick] singularly focuses on the sayings of Jesus... the book includes a collection of all of them-in order to excavate that teaching. "Emerick writes in unfailingly lucid prose, and his command of the issues is notable..." Kirkus Reviews
HIV/AIDS: Global Frontiers in Prevention/Intervention provides a comprehensive overview of the global HIV/AIDS epidemic. The unique anthology addresses cutting-edge issues in HIV/AIDS research, policymaking, and advocacy. Key features include: · Nine original essays from leading scholars in public health, epidemiology, and social and behavioral sciences · Comprehensive information for individuals with varying degrees of knowledge, particularly regarding methodological and theoretical perspectives · A look into the future progression of HIV transmission and scholarly research HIV/AIDS: Global Frontiers in Prevention/Intervention is will serve as a precious resource as a textbook and reference for the university classroom, libraries, and researchers
This volume is a study of the development of the idea that human social behaviour is governed by laws comparable to the laws of natural science. The author sets out to provide a clear account of the arguments put forward from the sixteenth to the nineteenth centuries about the nature and possibility of social laws. Although analytical rather than historical in approach, the discussions are always informed by a knowledge of the relevant context and sufficient detail is provided to characterise the views in question accurately. The critical expositions of the views are presented elegantly and succinctly, in a way which reveals their bearing on the problems involved - problems which are still the subject of lively debate today. The book, which is written with great clarity and balance, will be of interest to students and specialists in the history of ideas, philosophy, law, religion and the histories and methodologies of the different social sciences.
This is an exceedingly long short book, stretching at least fifty thousand years into the past and who knows how many into the future." So begins Visions of the Future, the prophetic new book by eminent economist Robert Heilbroner. Heilbroner's basic premise is stunning in its elegant simplicity. He contends that throughout all of human history, despite the huge gulf in social organization, technological development, and cultural achievement that divides us from the earliest known traces of homo sapiens, there have really only been three distinct ways of looking at the future. During a period Heilbroner refers to simply as the Distant Past, stretching from prehistory to the appearance of modern nation-states in seventeenth century Europe, there was no notion of a future measurably and materially different from the present or the past. From the Stone Age to the Bronze, Mesopotamia and Egypt to Greece and Rome, and throughout the Middle Ages, a continuum of cultures and civilizations shared one defining expectation--the absence of any expectation of material progress for the great masses of people. Heilbroner maintains that it was not until the first stirrings of the period he refers to as Yesterday, spanning from roughly 1700 to 1950, that the future entered into human consciousness as a great beckoning force. Capitalism, continually reinvigorated by the seemingly endless forward march of science and an evolving sense of democracy, appeared to promise all levels of society some expectation of a future at least somewhat better than the past. It was this unwavering faith in the superiority of the future that separated Yesterday from the age we have now entered, that of Today. While we are still driven towards tomorrow by the same forces that determined the recent past, the lessons of Hiroshima and Chernobyl, the chaos in the former Soviet Union, the stagnation of the West, and the anarchic rage unleashed in our inner cities and in hot spots around the globe have brought on a palpable anxiety that is quite apart from both the resignation of the Distant Past or the bright optimism of Yesterday. In a brilliant conclusion drawing together the threat of nuclear blackmail, global warming and the growing commodification of life represented by video games, voice mail, and VCRs, Visions of the Future issues a call to face the challenges of the twenty-first century with a new resolve strengthened by the inspiration of our collective past.
Human Action—a treatise on laissez-faire capitalism by Ludwig von Mises—is a historically important and classic publication on economics, and yet it can be an intimidating work due to its length and formal style. Choice: Cooperation, Enterprise, and Human Action, however, skillfully relays the main insights from Human Action in a style that will resonate with modern readers. The book assumes no prior knowledge in economics or other fields, and, when necessary, it provides the historical and scholarly context necessary to explain the contribution Mises makes on a particular issue. To faithfully reproduce the material in Human Action, this work mirrors its basic structure, providing readers with an enjoyable and educational introduction to the life's work of one of history's most important economists.
Understanding Money Mechanics provides the intelligent layperson with a concise yet comprehensive overview of the theory, history, and practice of money and banking, with a focus on the United States. Although the author considers himself an Austrian school economist, most of the material in this book is a neutral presentation of historical facts and an objective description of the mechanics of money creation in today's world. This book is intended to be a reference for all readers, whether "Austrian" or not, and to bridge the gap by providing a crash course in the necessary theory and history while keeping the discussion tethered to current events. Understanding Money Mechanics covers numerous topics, including the classical gold standard, the Fed's open market operations, changes in central bank policy since the coronavirus, the economics of Bitcoin, and a critique of Modern Monetary Theory (MMT).
Local Business Voice provides the first scholarly and systematic history of the Chambers of Commerce from early historical origins in the eighteenth century up to the present date. Based on new archival information, it provides exhaustive coverage of all UK and Irish chambers, as well as detailed examination of early Chambers in the U.S., including New York, Charleston, and Boston, and early Chambers in Quebec and Jamaica. The book traces the importance of early tax protests and anger as motivating forces through interrelation with the American Revolution. It traces the emergence of service bundles, such commercial arbitration, coffee and reading rooms, and information and consultancy services as critical to the Chambers' unique market position. Some of the services had a unique status as trust goods, exploiting the chambers' USP as high status mutual non-profit organisations. It demonstrates the challenges for the Chambers as independent voluntary bodies in increasing partnerships with governments and competition with rival institutions, and also gives critical overview of key lobbies, such as over the Jay Treaty, tax expansion, the Corn Laws, tariff reform and free trade, municipal socialism, and modern regulatory burdens. There is also extensive analysis of chamber membership and motivation, tracking changes in structure by firm size, sector and corporate and management structures. The growth of small firm membership, and the value of business networks and (in the early chambers) religious adherence, are shown as key mediums for recruitment, and maintaining commitment. A definitive account of all local chambers including data appendices and detailed assessment of their significance, the book will be an enduring resource and foundation for research into the Chambers of Commerce's origins, historical development, and modern position.
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