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An analysis of Thomas Schelling's work entitled 'Strategy of Conflict' is provided. It is believed that Schelling played an important role in stimulating the development of non-cooperative game theory by focusing on the critical importance of information and commitment in strategic dynamics. An analysis of economics' place in the social sciences is also presented.

The review of the book 'Pay without Performance: The Unfulfilled Promise of Executive Compensation' written by Lucian Bebchuk and Jesse Fried is presented.

The review of the book 'Unemployment: Macroeconomic Performance and the Labour Market' written by Richard Layard, Stephen Nickell and Richard Jackman is presented. The future trends of economic research are discussed.

The review of the book 'Global Capital Markets: Integration, Crisis and Growth,' written by Maurice Obstfeld and Alan Taylor is presented.

The examination of the risks of the end of human civilization due to asteroid impacts, global climate change, bioterrorism and a nuclear catastrophe in Richard Posner's book 'Catastrophe: Risk and Response' is presented.

The review of the collection of essays on the post-communist economic transition of Russia, in Andrei Shleifer's new book 'A Normal Country,' is presented.

The analysis of relationships between buyers and sellers in the era of outsourcing, based on Thomas L. Friedman's book 'The World is Flat: A Brief History of the Twenty-First Century' is presented.

The impact of the Federal Deposit Insurance Corporation Improvement Act of 1991 on the trends of the regulation of banking operations in the United States is examined, based on the views expressed by Gary Stern and Ron Feldman in their book 'Too Big to Fail: The Hazards of Bank Bailouts.'

Eighteenth-century economist Adam Smith's reputation as the founder of modern economics has endured since the 1800s and he has long been recognized by economic theoreticians as being an economic liberal. The commentary on his work has increased at an accelerating pace since 1976. A study evaluates primarily those writings that seek to interpret Smith as a critic of capitalism and locate his work and views in a historical context.