This highly topical book presents a new theory on the characteristics of entrepreneurial knowledge. It explores the recent shift among professional economists and scholars in their evaluation of the debate of socialism. Socialism, Economic Calculation and Entrepreneurship presents an application of Israel M. Kirzner’s theory of entrepreneurship to the theory of the impossibility of socialism. It discusses the influence of the fall of socialism, with particular reference to the evolution of economic thought.
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On Some Fundamental Issues in 21st Century Political Economy
Spencer J. Pack
Spencer Pack compares and contrasts Aristotle’s, Smith’s and Marx’s theoretical systems on six fundamental issues: exchange value, money, capital, character, government, and change. This book also provides insights on issues concerning the continuing development of world money, saving, managerial capitalism, corrupt governments, and various secular and religious movements for social change.
Living with Declining Living Standards
Global threats can be expected to cause a global environmental crisis and declining living standards for most people. Threats analyzed include poverty, cultural, economic, political and religious fundamentalism, consumption, population increase and degradation of the global ecosystem. Chapters on the United States, China and Zambia illustrate difficulties that high, middle and low income countries face in addressing such threats. The final chapter examines the type of transformational change required just to reduce the rate and magnitude of future decline.
Patrick A. McNutt
In this insightful book, Patrick McNutt explores the meaning of law within a political environment, and advances many new ideas and concepts first addressed in his earlier book Law, Economics and Antitrust.
Jean-François Bourg and Jean-Jacques Gouguet
This timely book offers a critical interpretation of the traditional social and economic accounts of sport. It provides an incisive analysis of professional sport and defines alternative foundations to the present model. The authors demonstrate that professional sport is an extremely complex phenomenon encompassing many unique factors depending on its global reach, financing and organization.
Lessons from Developing Countries
Paola Profeta and Simona Scabrosetti
This unique book in a relatively under-researched subject area will prove essential reading for academics, researchers and practitioners focusing on political economy, public finance and the economics of taxation.
Privatizing by Groping for Stones
Since the 1980s, there has been a global wave of transfer of state assets to private hands. China is a relatively late participant of this worldwide trend, yet, in the last decade it has emerged as one of the largest privatizing countries. Shu-Yun Ma argues that China’s privatization is not based on any grand blueprint; rather, it is privatization by ‘groping for stones to cross the river’, a well-known metaphor often attributed to Deng Xiaoping, meaning that the reform simply proceeds on a trial-and-error basis without being guided by any theory.
Wilhelm Röpke is best known for his decisive intellectual contributions to the economic reforms that took post-war West Germany from ruin to riches within a decade. In this informative book, Samuel Gregg presents Röpke as a sophisticated économiste-philosophe in the tradition of Adam Smith, who was as much concerned with exploring and reforming the moral, social and intellectual foundations of the market economy, as he was in examining subjects such as business-cycles, trade-policy, inflation, employment, and the welfare state. By situating Röpke’s ideas in the history of modern Western economic thought, Samuel Gregg illustrates that while Röpke’s ‘neoliberalism’ departed from much nineteenth-century classical liberal thought, it was also profoundly anti-Keynesian and contested key aspects of the post-war Keynesian economic consensus.
Values, Markets and the State
Edited by Geoffrey Brennan and Giuseppe Eusepi
This book makes a rational and eloquent case for the closer integration of ethics and economics. It expands upon themes concerned with esteem, self-esteem, emotional bonding between agents, expressive concerns, and moral requirements.
Peter A.G. van Bergeijk
The book presents an overview of the general aspects of trade uncertainty, a central element in the analysis of economic diplomacy, illustrating that some instruments, such as sanctions (both positive and negative), increase trade uncertainty, whilst others – multilateral trade policy, for instance – aim to reduce this uncertainty. Commercial policy and bilateral economic diplomacy are explored, and economic sanctions analysed. An extensive review of the literature and empirical investigations of 161 sanctions and the commercial relationships of 37 countries provide topical and empirical perspectives on how international diplomacy may both be a cost and a benefit of the key drivers of productivity growth. Finally, policy conclusions are drawn, and a future research agenda presented.