Why do American state economies grow at such vastly different rates and manifest such wide differences in living standards? Volatile States identifies the sources of rising living standards by examining the recent economic and fiscal history of the American states. With new insights about the factors that contribute to state economic success, the book departs from traditional analyses of economic performance in its emphasis on the role of volatility. Volatile States identifies institutions and policies that are key determinants of economic success and illustrates the considerable promise of a mean-variance criterion for assessing state economic performance. The mean-variance perspective amends applications of growth models that rely on the mobility of productive factors keyed to income levels alone. Simply measuring the level of growth in state economies reveals an incomplete and perhaps distorted picture of performance. Taking the volatility of state economies explicitly into account refines the whole notion of "economic success." This book is essential reading for economists, political scientists, and policy-makers who routinely confront questions about the consequences of alternative institutional arrangements and economic policy choices. W. Mark Crain is Professor of Economics and Research Associate, James M. Buchanan Center for Political Economy, George Mason University.
In Empire of Debt, maverick financial writers Bill Bonner and Addison Wiggin provide you with the first in-depth look at how the American character has shifted to accommodate its new imperial role; how we have abandoned the private virtues of personal liberty, economic freedom, and fiscal restraint; and how the government has gained control of public life and the economy.
An updated look at the United States' precarious position given the recent financial turmoil In The New Empire of Debt, financial writers Bill Bonner and Addison Wiggin return to reveal how the financial crisis that has plagued the United States will soon bring an end to this once great empire. Throughout the book, the authors offer an updated look at the United States' precarious position given the recent financial turmoil, and discuss how government control of the economy and financial system-combined with unfettered deficit spending and gluttonous consumption-has ravaged the business environment, devastated consumer confidence, and pushed the global economy to the brink. Along the way, Bonner and Wiggin cast a wide angle lens that looks back in history and ahead to the coming century: showing how dramatic changes in the economic power of the United States will inevitably impact every American. Reveals the financial realities the United States currently faces and what the ultimate outcome may be Weaves together the worlds of politics, economics, and personal finance in a way that underscores the severity of the situation Addresses the events leading up to the implosion of the U.S. financial system Looks ahead to help you avoid the pitfalls presented by a weaker United States Other titles by Bonner: Empire of Debt, Financial Reckoning Day, and Mobs, Messiahs, and Markets Other titles by Wiggin: I.O.U.S.A., Demise of the Dollar, and Financial Reckoning Day The United States is heading down a difficult path. The New Empire of Debt clearly shows how this has happened and discusses what you can do to overcome the financial challenges that will arise as the situation deteriorates.
Taxing behavior deemed "politically incorrect" has long been a convenient way for politicians to fund programs benefiting special interest groups, to the public's disadvantage. Government policy toward various goods - drugs, tobacco and alcohol, for example - has been locked into a regulatory cycle of tax and taboo. Support for legalizing other substances is buttressed by the revenue-generating power of so-called "sin" taxesi And the products subjected to excise taxation have varied from soft drinks, fishing gear and margarine to airline tickets, telephone calls and gasoline. Taxing Choice thoroughly addresses the costs and benefits of these predatory public policies.Shughart notes that the record of such punitive selective taxation has been anything but successful, hindering economic progress and failing to deliver the promised social benefits. In addition, the costs of selective taxes fall disproportionately on lower-income people, while more politically powerful interest groups benefit. At the same time, such policies are a poor way to raise funding for public services, and foster political corruption and self-serving bureaucracies accountable to no one. Indeed, policies discriminating against certain products may represent ominous trends easily extended into virtually every facet of people's lives. One can envision policies proscribing foods, sun bathing, obesity, and even books, films, and political and religious beliefs deemed "dangerous."Part I is devoted to the political economy of selective taxation. Contributors trace the history and politics of selective excise taxes in the United States, discussing the range of products that have been subject to such taxation from the founding period to the present. Part II explains how these taxes emerge in a political marketplace with opposing pressure groups scrambling for wealth transfers in their own favor. Part III looks at taxes on specific products as well as such banning policies as Prohibition and the war on drugs. Constitutional, economic, and civil liberty issues, including civil asset forfeiture and product liability, are discussed in Part IV. With the accelerating national debate over tax reform and the downsizing of government, Taxing Choice is a timely and far-reaching contribution to a debate of great interest to economists, policymakers, historians, sociologists, and taxpayers in general.
Macroeconomics: Principles and Policy remains a proven leader in the world of economics. Since introducing the aggregate supply/aggregate demand model as a fundamental tool for learning economics over two decades ago, William J. Baumol and Alan S. Blinder continue to equip students with the knowledge and tools they need to apply modern economics to their world--now and in the future. This is all the more true today, as the U.S. economy enters its first recession in more than a decade.
Traditional public policy and welfare economics have held that market failures are common, requiring the intervention of government in order to serve and protect the public good. In Beyond Politics, William C. Mitchell and Randy T. Simmons carefully scrutinize this traditional view through the modern theory of public choice. The authors enlighten the relationship of government and markets by emphasizing the actual rather than the ideal workings of governments and by reuniting the insights of economics with those of political science. Beyond Politics traces the anatomy of government failure and a pathology of contemporary political institutions as government has become a vehicle for private gain at public expense. In so doing, this brisk and vigorous book examines a host of public issues, including social welfare, consumer protection, and the environment. Offering a unified and powerful perspective on the market process, property rights, politics, contracts, and government bureaucracy, Beyond Politics is a lucid and comprehensive book on the foundations and institutions of a free and humane society.
An example of special interest protection is provided by this study's general equilibrium theory that explains income distribution with goods markets, factor markets, lobbies, political parties and voters all pursuing their self interests.
Unhyped and therefore unnoticed, technology is altering the behavior and mission of city halls, statehouses, schools, and federal agencies across America. From transportation to education to elections to law enforcement (or, as we're now referring to it, 'homeland security'), the digital revolution is transforming government and politics, slashing bureaucracies; improving services; producing innovative solutions to some of our nation's thorniest problems; changing the terms of the Left/Right political debate; and offering ordinary people access to a degree of information and individual influence until recently accessible only to the most powerful citizens, finally redeeming the Founding Fathers' original vision for our democracy, and enriching American life and society in the process. Based on interviews with over 500 leading politicians, researchers, technology industry CEOs and leaders, futurists and front-line public employees, Government 2.0 journeys across America and overseas to demonstrate the promise and perils of this emerging world and offer a likely road map to its implementation. You'll hear from technology executives preparing for an onrushing future when, for many citizens, most government interactions could take place on private-sector websites; from bureaucrats like OSHA's Ed Stern fighting to get their agencies to adopt expert systems technology; from William Bennett, whose virtual education company offers a glimpse into one possible future of American education; and from Governor Jeb Bush and former Mayor Rudolph Giuliani as they endeavor to overcome bureaucratic inertia to provide more open, efficient, and effective governments. Rich with anecdotes and case studies, Government 2.0 is a must read for every entrepreneur frustrated by paperwork, every parent who's sick of being surprised by bad report cards, every commuter stuck in traffic, every activist trying to fight City Hall, and every taxpayer who cares about the future of government.
Provides a comprehensive theoretical and practical framework for informing budget decisions based on the efficiency and effectiveness of service delivery. The authors enliven the text with references to their original research and personal experiences with performance measurement, citizen satisfaction surveys, and financial management practices. This edition includes increased coverage of cost accounting procedures and of citizen participation in performance management.
The chapters in this book explore reasons for the decline of "Rust Belt" cities and the often innovative responses of local leaders and entrepreneurs that are helping to revive these areas.
Alexander Hamilton wrote that “the judiciary, from the nature of its functions, will always be the least dangerous to the political rights of the Constitution.” If only that were true. The Founding Fathers wanted the judicial branch to serve as a check on the power of the legislative and executive, and gave the Supreme Court the responsibility of interpreting the Constitution in a way that would safeguard individual freedoms. In some cases, like Brown V. Board of Education and United States V. Lopez, the Court fulfilled its role, protecting us from racial discrimination and the heavy hand of the federal government. But sadly, the Supreme Court has also handed down many destructive decisions on cases you probably never learned about in school. In The Dirty Dozen, two distinguished legal scholars shed light on the twelve worst cases, which allowed government to interfere in your private contractual agreements; curtail your rights to criticize or support political candidates; arrest and imprison you indefinitely, without filing charges; and seize your private property, without compensation, when someone uses the property for criminal activity—even if you don’t know about it! This is not a book just for lawyers. It’s for all Americans who want to understand how the Supreme Court can affect our right to life, liberty, and the pursuit of happiness. This paperback edition includes a new preface, “Guns, Bailouts, and Empathetic Judges,” which highlights new and critical issues that have arisen since the book’s initial edition was published in 2008.
This book presents a distinctive version of a contractarian approach to law and justice. The work argues that law and justice are social norms that arise from a process of social evolution, and are binding only if and to the extent that they are mutually beneficial. It explicitly rejects accounts of law and justice that are based on morality, on the basis that morality itself is only legitimately founded on mutual advantage. But it also rejects most existing versions of contractarianism, which are based on ideas of hypothetical agreements by rational contractors, in favour of an approach that is based on actually existing social norms, but advocates critically examining these norms and discarding those that are not truly mutually beneficial. The first half of the book develops the approach, while the second half explores some of its implications for law. It argues for a left-libertarian approach to property, an approach largely based on the common law of tort, contract and criminal law, and a rejection of most statutory law, which is based not on mutual advantage but rather on benefiting some at the expense of others. However, it ultimately recognises that there are those who want a more extensive state than this approach allows, and advocates a strong form of federalism to allow this, provided robust exit rights are provided. The book combines political philosophy, economics and law into an approach that is broadly libertarian but distinctive in many respects. It will be of interest to scholars in all three of those disciplines.
This new edition of Financial Management of Health Care Organizations offers an introduction to the most-used tools and techniques of health care financial management, including health care accounting and financial statements; managing cash, billings and collections; making major capital investments; determining cost and using cost information in decision-making; budgeting and performance measurement; and pricing. Now completely updated, this book provides students with the practical, up-to-date tools they need to succeed in this dynamic field. Provides an introduction to the most-used tools and techniques of health care management. Additional questions and problems for the chapters. Updated perspectives throughout the text. Instructor's Manual available on CD-ROM including all exhibits in PowerPoint and Excel, answers to all problems in PowerPoint and Excel, and working spreadsheet models of exhibits and selected problems for classroom use. Accompanying website features links to related websites, glossary, and downloadable Instructor's Manual and sample chapters. www.blackwellpublishing.com/zelman
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