economists and the powerful convenient theories distorted facts ample rewards

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Economists And The Powerful

Author : Norbert H Ring
ISBN : 9780857285461
Genre : Business & Economics
File Size : 78. 44 MB
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This study explores the workings of the modern global economy – in which competition is imperfect and influence of power is ubiquitous – and reveals the vast difference between the true workings of capitalism and the myths that mainstream economics would have us believe.

Why Nations Fail

Author : Daron Acemoglu
ISBN : 9781847654618
Genre : Business & Economics
File Size : 63. 24 MB
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Shortlisted for the Financial Times and Goldman Sachs Business Book of the Year Award 2012. Why are some nations more prosperous than others? Why Nations Fail sets out to answer this question, with a compelling and elegantly argued new theory: that it is not down to climate, geography or culture, but because of institutions. Drawing on an extraordinary range of contemporary and historical examples, from ancient Rome through the Tudors to modern-day China, leading academics Daron Acemoglu and James A. Robinson show that to invest and prosper, people need to know that if they work hard, they can make money and actually keep it - and this means sound institutions that allow virtuous circles of innovation, expansion and peace. Based on fifteen years of research, and answering the competing arguments of authors ranging from Max Weber to Jeffrey Sachs and Jared Diamond, Acemoglu and Robinson step boldly into the territory of Francis Fukuyama and Ian Morris. They blend economics, politics, history and current affairs to provide a new, powerful and persuasive way of understanding wealth and poverty.

Economics 2 0

Author : Norbert Häring
ISBN : 0230612431
Genre : Business & Economics
File Size : 55. 50 MB
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Economists can help shape monetary policy, global policy and even how much you pay for a new pair of shoes. For example, do you know who benefits the most from globalization? How do fitness studios and providers of Internet access earn most of their money?: from the laziness and irrationality of their customers. This book features contributions from top thinkers in the economic field from around the world, such as Philippe Aghion, Paul Krugman, Daniel Gros, and George Lowenstein. It also includes chapters on: Financial Markets: Are They Completely Efficient or Totally Nuts (rational vs. emotional), and The Art of Selling: How marketers use consumer decision making data to sell us products we don't need. This text makes an impressive case for the argument that economics is not a dry science and that economics principles impact much of our day to day life. Completely without formulas and theoretical ballast, the authors present current findings of prominent economists and expand the economic knowledge of their readers. They manage to make complex relationships clear.

Recursive Macroeconomic Theory

Author : Lars Ljungqvist
ISBN : 026212274X
Genre : Business & Economics
File Size : 62. 88 MB
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Recursive methods offer a powerful approach for characterizing and solvingcomplicated problems in dynamic macroeconomics. Recursive Macroeconomic Theory provides both anintroduction to recursive methods and advanced material, mixing tools and sample applications. Thesecond edition contains substantial revisions to about half the original material, and extensiveadditional coverage appears in seven chapters new to this edition. The updated and added materialcovers exciting new topics that further illustrate the power and pervasiveness of recursivemethods.Significant improvements to original chapters include a better treatment of the existence ofrecursive equilibria, an enhanced account of the supermartingale convergence theorem, and anextended treatment of an optimal taxation problem in an economy in which there are incompletemarkets. Completely new coverage in the second edition includes an introductory chapter, which givesan overview of the themes uniting the diverse topics treated throughout the book. Two new chaptersoffer a self-contained account of the optimal growth model and some of its basic applications inmacroeconomics and public finance. Other new chapters cover such topics as how to formulate andcompute Stackelberg or Ramsey plans in linear economies, sustainable risk-sharing equilibria withoutcommitment, and the application of recursive contracts to topics in international trade. Mostchapters conclude with exercises and the book includes two technical appendixes covering functionalanalysis and control and filtering.

An Evolutionary Theory Of Economic Change

Author : Richard R. Nelson
ISBN : 0674041437
Genre : Business & Economics
File Size : 52. 64 MB
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This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Imperialism

Author : J. A. Hobson
ISBN : 9781596059481
Genre : History
File Size : 61. 4 MB
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In his Preface to the 1902 first edition of Imperialism: A Study, imperial critic J.A. Hobson demonstrates his prophetic talents by noting, just as the Victorian age was ending and World War I was brewing, that "Imperialism has been adopted as a more or less conscious policy by several European States and threatens to break down the political isolation of the United States." Though the book speaks mostly of British imperialism of the period, Hobson inevitably explores the general principals-and hidden motives-of imperialist policy. Hobson covers: . the commercial value of imperialism . imperialism as an outlet for population . economic parasites of imperialism . imperialist finance . moral and sentimental factors . and much more. With imperialism again a hot topic in the political arena, Hobson's treatise continues to lend invaluable, necessary insight into a complex ideology. British writer JOHN ATKINSON HOBSON (1858-1940) was an historian and economist as well as a popular lecturer on the topics. His other books include The Evolution of Modern Capitalism (1894), The Economics of Distribution (1900), The Economics of Unemployment (1922), and the autobiographical Confessions of an Economic Heretic (1938).

Competitive Advantage Of Nations

Author : Michael E. Porter
ISBN : 9781451651492
Genre : Business & Economics
File Size : 60. 37 MB
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Now beyond its eleventh printing and translated into twelve languages, Michael Porter’s The Competitive Advantage of Nations has changed completely our conception of how prosperity is created and sustained in the modern global economy. Porter’s groundbreaking study of international competitiveness has shaped national policy in countries around the world. It has also transformed thinking and action in states, cities, companies, and even entire regions such as Central America. Based on research in ten leading trading nations, The Competitive Advantage of Nations offers the first theory of competitiveness based on the causes of the productivity with which companies compete. Porter shows how traditional comparative advantages such as natural resources and pools of labor have been superseded as sources of prosperity, and how broad macroeconomic accounts of competitiveness are insufficient. The book introduces Porter’s “diamond,” a whole new way to understand the competitive position of a nation (or other locations) in global competition that is now an integral part of international business thinking. Porter's concept of “clusters,” or groups of interconnected firms, suppliers, related industries, and institutions that arise in particular locations, has become a new way for companies and governments to think about economies, assess the competitive advantage of locations, and set public policy. Even before publication of the book, Porter’s theory had guided national reassessments in New Zealand and elsewhere. His ideas and personal involvement have shaped strategy in countries as diverse as the Netherlands, Portugal, Taiwan, Costa Rica, and India, and regions such as Massachusetts, California, and the Basque country. Hundreds of cluster initiatives have flourished throughout the world. In an era of intensifying global competition, this pathbreaking book on the new wealth of nations has become the standard by which all future work must be measured.

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