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State and local government fiscal systems have increasingly become vulnerable to economic changes. Over the past three decades, state and local deficits during economic recession have been larger and deeper each time. The impact of the Great Recession and its aftermath...
A review of the headlines of the past decade seems to show that disasters are often part of capitalist systems: the high-tech bubble, the Enron fraud, the Madoff Ponzi scheme, the great housing bubble, massive lay-offs, and a widening income gap. Disenchantment with the...
The topic of Entrepreneurial Finance involves many issues, including but not limited to the risks and returns to being an entrepreneur, financial contracting, business planning, capital gaps and the availability of capital, market booms and busts, public policy and...
This volume critically re-examines the profession's understanding of asset bubbles in light of the global financial crisis of 2007-09. It is well known that bubbles have occurred in the past, with the October 1929 crash as the most demonstrative example. However, the...
Undergraduate economics students begin and end their study of economics with the simple claim that economics is value free. Only in a policy role will values and beliefs enter into economic work; there can be little meaningful dialogue by economists about such personal...
India's remarkable economic growth in recent years has made it one of the fastest growing economies in the world. Its rapid growth, however, has been accompanied by widening regional disparities, poverty, malnutrition, and socio-political instability. Understanding...
An intense debate has played out in recent years regarding how to implement a so-called "flexicurity system"-a labor market reform that combines flexibility, particularly in the hiring and firing process of firms, with security in the employment and income of the...
Adam Smith and Friedrich Hayek saw the liberty principle as focal and accorded it strong presumption, but their wisdom invokes how little we can know. In Knowledge and Coordination, Daniel Klein re-examines the elements of economic liberalism. He interprets Hayek's...
More than two millennia ago the famous Chinese general Sun Tzu wrote the classic work on military strategy, The Art of War. Now, in a new edition of Sun Tzu and the Art of Business, Mark McNeilly shows how Sun Tzu's strategic principles can be applied to twenty-first...
Ours is the most dynamic era in human history. The benefits of four centuries of technological and organizational change are at last reaching a previously excluded global majority. This transformation will create large-scale opportunities in richer countries like the...
This book explains why moral beliefs can and likely do play an important role in the development and operation of market economies. It provides new arguments for why it is important that people genuinely trust others-even those whom they know don't particularly care...
As we enter the 2010s, the global economy is becoming increasingly integrated. International trade has been growing rapidly, an ostensibly irresistible trend that was only temporarily disrupted by the 2008-09 global recession. Globalization has become associated with a...
Sovereign wealth funds are a growing and dynamic force in international finance. The shifting international economic relations from capital rich states gives them new power in influencing the global agenda. Despite controlling trillions of dollars in the biggest...
This collection of essays by Ruttan and Hayami spans their long career in the economics of technical and institutional change. At both a theoretical and empirical level, their analysis of induced innovation provides a solid foundation for understanding how and why...
Tomas Sedlacek has shaken the study of economics as few ever have. Named one of the "Young Guns" and one of the "five hot minds in economics" by the Yale Economic Review, he serves on the National Economic Council in Prague, where his provocative writing has achieved...
Few sectors of the global economy have experienced the dynamic and structural change that has occurred over the past several decades in banking and financial services or as much turbulence and damage to the economy and to ordinary people. Regulatory and technological...
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