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How inflation and deflation fears shape American democracy. Many foundational moments in American economic history—the establishment of paper money, wartime price controls, the rise of the modern Federal Reserve—occurred during financial panics as prices either inflated or deflated sharply. The government's decisions in these moments, intended to control price fluctuations, have produced both lasting effects and some of the most contentious debates in the nation's history. A sweeping history of the United States'economy and politics, Shock Values reveals how the American state has been shaped by a massive, ever-evolving effort to insulate its economy from the real and perceived dangers of price fluctuations. Carola Binder narrates how the pains of rising and falling prices have brought lasting changes for every generation of Americans. And with each brush with price instability, the United States has been reinvented—not as a more perfect union, but as a reflection of its most recent failures. Shock Values tells the untold story of prices and price stabilization in the United States. Expansive and enlightening, Binder recounts the interest-group politics, legal battles, and economic ideas that have shaped a nation from the dawn of the republic to the present.

Globalization: A Key Idea for Business and Society analyzes today's process of global integration. Globalization is seen as a complex phenomenon, the drivers of which are of a technological, institutional, cultural and, not least, political nature.The book includes a historical analysis of the rise, and fall, of the “first globalization” wave which took place between the end of the Napoleonic Wars and the Great War. The chapters focus on the measurement of the global integration process, on the in-depth analysis of the above mentioned “drivers”, and on some of the actors playing a relevant role in the process itself – multinational companies and governments as owners of global companies. The conclusion of the book provides a perspective on the current “globalization backlash”, its determinants and possible future alternative scenarios.This book is an ideal resource for students and practitioners interested in past, present and future globalization.

Tracing the evolution of economic ideas in the context of the economic history and economic policy issues in Greece, this book examines the history of modern Greek economic thought from the War of Independence from Ottoman rule in 1821 until the present.The book explores how native, religious-oriented economic thought was secularized and merged with different economic discourses during successive historical periods. It traces how the dissemination of French and German economic thought in the 19th century was followed by British and US influences in the 20th century. The institutionalization of economics as a discipline in the 1920s and its internationalization after 1971, with their effects on the emergence of modern mainstream and heterodox thought, are also discussed. Finally, reference is made to contemporary Greek economic thought in the frame of European Union economic thinking.This book will be of interest to readers in the history of economic thought, economic history, intellectual history, Greek history, and modern European history more broadly.

Accounting for the Holocaust: Enabling the Final Solution reveals how accounting practices allowed the attempted annihilation of Jews by the German Nazis and the Italian Fascists to be carried out with machine-like efficiency and devoid of any moral considerations.This largely hidden aspect of the Holocaust will allow a wide range of readers, both academic and across many sectors of the general population, to understand how the systematic murder of more than six million Jews was expedited by accounting practices and the information that these produced by allowing the humanity of those killed to be denied when they became mere numbers in a process. Readers will gain a new understanding of how the enactment of the scale of the Holocaust was made possible by the way in which accounting practices as “technologies of death” were used to reduce Jews to a life without value. The numerical calculations, techniques, and reports that constitute accounting practices allowed the systematic murder of Jews to be drained of any considerations that would imply that the numbers and costings were related to prescient human beings. These technologies of death also allowed those who managed and organised the murder of Jews to absolve themselves of the actual killings.

Economists measure the effects of immigration through the yardstick of income. This book offers a broad survey of the conventional approach but in addition, also considers better measures of welfare or well-being and provides a detailed description and evaluation of policies - rules, regulations and implementation. The book offers a long, historical perspective on the development of population density in the Netherlands. It begins with the history of the Netherlands: geological and cultural formation of the land - and water - and population development. The Netherlands is unique in that much of the land is man-made, in particular the western part, which is, economically speaking, the most developed area. It is also special for its very high population growth rate that took off during the 19th century. The key argument of the book is that population size is irrelevant for income per capita, that land is a binding constraint in the Netherlands and that negative external effects of increasing population size lead to welfare losses from further population growth, whether by natural growth or by immigration. At present, the battle for scarce land is intense and bitter, with a strong clash between developers who want to build houses, farmers who do not want to give up farming and conservationists who increasingly find support in the courts for insufficiently caring for the natural environment. The book combines a general analysis of population density, both theoretical and empirical, with an in-depth presentation of actual policies in a country with intense pressure on available land.

Questo volume raccoglie i saggi che Carlo M. Cipolla ha via via pubblicato tra il 1945 e il 1985, e trae il suo titolo dal saggio che – come è chiarito dallo stesso autore – meglio rappresenta il suo modo di intendere e vedere lo sviluppo dell'Europa occidentale dal X al XIX secolo (con riferimento alla rivoluzione comunale, a quella industriale e a quella scientifica). I tanti temi affrontati – tra i quali il declino dell'Italia e degli imperi, le professioni, le epidemie, la moneta, lo sviluppo demografico, le fluttuazioni economiche – inducono il lettore a riflettere sul processo che portò l'Europa al centro del mondo. Comune a tutti questi lavori è il gusto della chiarezza dell'esposizione e il rigore del ragionamento oltre alla sensibilità per il lato umano della storia economica.

Traditionally, there has been a long and sustained interest in studying the history of economic ideas in France. Interest appeared to wane after World War II, but in recent decades, there has been a marked renaissance of interest and research in the contributions of French-speaking authors. Drawing on the flow of recent research, this book presents a new assessment of the history of political economy in France incorporating both novel presentations of some traditional subjects and topics that are not usually studied.This first volume deals with the history of political economy in France in the Age of Enlightenment. After presenting a kind of “review of the troops” and some main developments inherited from preceding centuries, the chapters are devoted to P. de Boisguilbert's foundation of liberal political economy; J. Law's monetary theory and policy; the many strands of “commerce politique”; the theoretical developments of F. Quesnay and the physiocratic movement; and A.-R.-J. Turgot's, J.-J.-L. Graslin's and M.-J.-A.-N. Caritat de Condorcet's sensationist political economy. The volume then examines some political critiques of liberal political economy and goes on with a study of the first attempts to quantify economic variables and to formalise the economic discourse. It concludes with a chapter on the importance of translations into French of books published abroad, and with the main institutional and theoretical developments which happened during the French Revolution.A History of Economic Thought in France will be invaluable reading for advanced students and researchers of the history of economic thought, political economy, intellectual history and French history.

Traditionally, there has been a long and sustained interest in studying the history of economic ideas in France. Interest appeared to wane after World War II, but in recent decades, there has been a marked renaissance of interest and research in the contributions of French-speaking authors. Drawing on the flow of recent research, this book presents a new assessment of the history of political economy in France incorporating both novel presentations of some traditional subjects and topics that are not usually studied.This second volume analyses the evolution of political economy during the long nineteenth century, combining an assessment of both liberals and their opponents. Its first part covers the most outstanding contributions to political economy in the age of industry, from the founding fathers (L.-C.-C. Destutt de Tracy and J. –B. Say) until the pre-World War I period, including that of A.-A. Cournot, J. Dupuit, the French liberal economists, and L. Walras. The volume then outlines the critiques of liberal political economy, focusing on the analyses of J.-C.L.S. de Sismondi, C.-H. de Saint-Simon and his followers, and the successive generations of socialist and associationist authors, not forgetting the sociological critique. A substantial postlude concludes the volume with a survey of recent developments of French economic thought up to the present day.A History of Economic Thought in France will be invaluable reading for advanced students and researchers of the history of economic thought, political economy, intellectual history and French history.

Arthur Spiethoff (1873–1957), an economist of the German Historical School of Economics, is best known for his theory of the business cycle. Despite Spiethoff calling for a unified reading of his work, his epistemological thinking has received less attention. This book addresses that gap by analysing Spiethoff's theory of the business cycle in the light of his epistemological views. Putting Spiethoff's work in context, the book also investigates the most significant features of the evolution of the “research programme” of the German Historical School of Economics, with particular reference to the relationships between Schmoller, Sombart, Weber and Spiethoff. In addition, Spiethoff's work is compared with some of the scientific orientations of the current debates: on the epistemological side, the book examines the relationship between Spiethoff's views and some contemporary thinking on scientific realism, as well as methodological pluralism in social sciences. And, more broadly, it emphasises the analytical relevance of the historical approach in explaining the economic imbalances of contemporary capitalism, questioning the idea, widespread in the neoclassical approach, that taking historical specificities into account makes it hard to achieve a theoretically effective attitude. This book is a significant addition to the literature on the German Historical School of Economics and the history of economic thought, business cycle theory and macroeconomics more broadly.

Central banks now stand between societies and collapse, but are they still democratic? Two decades of financial crises have dramatically expanded central banks'powers. In 2008, and then again in 2020, unelected banking officials found themselves suddenly responsible for the public welfare—not just because it was necessary but based on an idea that their independence from political systems would insulate them from the whims of populism. Now, as international crises continue and the scope of monetary interventions grows in response, these bankers have become increasingly powerful. In Balance of Power, economist and historian Éric Monnet charts the rise of central banks as the nominally independent—but unavoidably political—superpowers of modern societies. This trajectory, Monnet argues, is neither inevitable nor unstoppable. By embracing the political natures of today's central banks, we can construct systems of accountability for how they interact with states and societies. Monnet shows that this effort will do more than guard against unjust power; it will put the banks to work for greater, more democratic ends. With existential challenges looming and the work of the Federal Reserve and European Central Bank more important than ever, Balance of Power offers a trenchant case for what this century's central banks can—and must—become.

With the rise of modern behavioural economics and increasing interest in subjective well-being research, the question of the relationship between economics and psychology has again been brought to the fore. Drawing on the history of economic thought, this book explores the historical relationship between the two disciplines. The book opens with a description of the primary philosophical foundations for early arguments supporting the interplay between economics and psychology. Both classical economists and other prominent pre-marginalists writers are examined in this context. The ensuing discussion explores the marginalist revolution and how well-known economists like Jevons and Edgeworth, influenced by pre-marginalist writers, incorporated ideas and findings from psychology. The book then describes how, following the so-called “Paretian turn”, early neoclassical economists attempted to expel psychological concepts from economic analysis. Combined with the increasing formalization, the influence of the classical physics scientific ideal, and the impact of positivism, this methodological stance became dominant in modern mainstream economics. In contrast, non-mainstream traditions continued to acknowledge the significance of psychology in their economic analysis. This tradition includes inter alia the so-called old behavioural economics, mainly of Herbert Simon and George Katona. The revival of psychology in economics came mainly with the emergence and development of new behavioural economics as a distinct branch during the last few decades. The trend was further assisted by the emergence of the economics of subjective well-being. Finally, the book briefly explores the state of the current debate concerning the relationship between economics and psychology. This book will be invaluable reading to anyone interested in the history of the study of economics and psychology, as well as of great interest to students and scholars of history of economic thought, psychological economics, behavioural economics and the history and philosophy of social sciences.

This book considers a central issue of our time: the relationship between the macroeconomic objectives of political parties in democratic countries and the legal framework of market economies. The impressive panel of contributors examines social-democratic policies on cartels, market concentration and competition in different European countries, spanning a hundred-year period (specifically the interwar period, the initial postwar period, the 1960s and 1970s, the 1980s and 1990s, and the 2000s).This thought-provoking volume challenges the dominant belief that the EU's economic system and competition policy were mainly influenced by neoliberal economic thinking, instead showing that Keynesian and social-democratic positions played a major role in the emergence of this system.It will be valuable reading for advanced students, researchers and policymakers interested in modern economic history, industrial organization, political economy, European legal history and political science.

The classics heavily influenced many aspects of European modern culture, yet it is not easy to trace their intellectual power on any author. In this volume, Gloria Vivenza takes on the impressive task of examining how philosophy, history, literature, politics, and ethics all played a part in shaping Adam Smith's thought as a scholar, philosopher, and economist.This book will be of interest to advanced students and researchers in the history of economic thought, the history of philosophy, moral philosophy, political theory, and the Enlightenment.

In this case study book we present authentic case studies of selected mid-sized companies from Europe with market leading positions in a transformational context for management. Alle case studies have been elaborated on the basis of the integrated case method (ICM) in intense cooperation with the companies and the respective top management. This novel approach to case research and teaching has been developed throughout the EU funded ERASMUS+ project ECASA (European CAse Study Alliance). Case study learning and teaching offers students and lecturers a great opportunity for class discussions on prevailing topics. Case studies can be used for individual and group work. The structure of the cases allows lecturers to use it in different contexts regarding exercises and educational objectives. Case teaching provides an interactive and challenging environment, involving diverse perspectives and complex interdependencies that trigger thoughts and discussions about practical business challenges.

Microeconomic Principles and Problems offers a comprehensive introduction to all major perspectives in modern microeconomics, including mainstream and heterodox approaches. By providing multiple views of markets and how they work, readers will be better able to understand and analyze the complex behaviors of consumers, firms, and government officials, as well as the likely impact of a variety of economic events and policies.Most principles textbooks cover only mainstream economics and neglect the rich contextual analysis of heterodox economists. Heterodox material is presented as complementary to mainstream economics: understanding both approaches yields the deepest level of understanding. The book covers standard models, and includes substantial coverage of existing economic realities, featuring case studies and descriptive data. The book includes some coverage of all major heterodox schools of thought. This second edition incorporates new and expanded material on international trade (including disintegration and Brexit), climate issues and perspectives including degrowth, inter-temporal exchanges and games, non-market exchanges, trends in job opportunities, the rising cost of education, the gig economy, social media as an industry, and updated examples and cases. The book's suite of digital resources has also been revised to ensure examples and activities are relevant to each part of the book.Written in an engaging style focused on real-world examples, this groundbreaking book brings economics to life. It offers the most contemporary and complete package for any pluralist microeconomics class.

•A Foyles Top 10 Read for March and one of Glamour's Best Books of March•Longlisted for the inaugural Women's Prize for Non-Fiction'A galvanising takedown of neoliberalism's'free market'logic, one rooted in as much history as it is in current events'NAOMI KLEIN'A must-read for anyone keen to put the demos back in democracy'YANIS VAROUFAKISEverything you know about capitalism is wrong.Free markets aren't really free. Record corporate pro­fits don't trickle down to everyone else. And we aren't empowered to make our own choices – they're made for us every day.In Vulture Capitalism, acclaimed journalist Grace Blakeley takes on the world's most powerful corporations by showing how the causes of our modern crisis are the intended result of our capitalist system. It's not broken, it's working exactly as planned. From JPMorgan to Boeing, Henry Ford to Richard Nixon, Blakeley shows us exactly where late-stage capitalism has gone wrong.Searing, explosive and timely, Vulture Capitalism is the book you need to understand what is happening in the world around you – and what you can do to change it.'Read this book if you want to make fundamental changes to the world'HA-JOON CHANG'If you've ever wondered why you (and everyone you know) feel so out of control of the world around you, this book will give you the answer'ASH SARKAR

International relations since the end of the Cold War have been relatively uneasy, yet we should not discount the fact that the intensity of conflicts has decreased compared to the situation in both the first and second halves of the 20th century. This book explores international security relations as the pandemic subsides and the war in Ukraine escalates, offering a good description of the main actors and the background of current threats.It lays the theoretical foundations for security economics, analyses U.S. foreign policy, introduces China as a new superpower and signals Russia as a great power in decline. It concludes by pointing out the pitfalls of exporting democracy and presenting the paradox of progress. The author asserts that we should not be alarmed that international relations are shifting. Following the Cold War, the U.S. achieved clear strategic and economic superiority, however, China, Russia, India and other great powers remain strong players that must be taken seriously.The book shows that asymmetric warfare often ends with the weaker side winning and the stronger one losing and being discredited. Different examples of this outcome include the American War in Vietnam (1965-73), the Soviet Union's defeat in Afghanistan (1979-1990), and the U.S. getting mired in the wars of Afghanistan and Iraq. The war in Ukraine is a demonstration of the illusion of an imperial power that believes it can impose its will on other nations, even against their will.The book will be a useful resource for academics, students and researchers, as well as policymakers and professionals interested in issues related to international security and defense.