If each of us could get all the food, clothing, and toys we want without working, no one would study economics. Unfortunately, most of the good things in life are scarce—we can’t all have as much as we want. Thus scarcity is the mother of economics. Microeconomics is the study of how individuals and firms make themselves as well off as possible in a world of scarcity and the consequences o…
First and foremost, this is a book about economic growth and long-run economic development. The process of economic growth and the sources of differences in economic performance across nations are some of the most interesting, important and challenging areas in modern social science. The primary purpose of this book is to introduce graduate students to these major questions and to the theo…
You are just beginning your study of economics, but let us fast-forward to the end of your first economics course. How will your study of economics affect the way you see the world? The final exam is over. You are sitting at a restaurant table, waiting for your friends to arrive. The place is busy and loud as usual. Looking around, you see small groups of people sitting and talking animated…
This book is concerned with production and related economic issues. Generally speaking, production consists of the transformation of factors of production into products. The way in which the production is carried out—the production process—is outlined in Fig. 1.1. First, the factors of production (also called input) are taken to a production plant, which is where the actual production …
HIS book is the outcome of an invitation by the Warden and Fellows of All Souls to deliver the Chichele Lectures for 1966. The lectures as delivered were four in number. But since then I have added three more in order to make the coverage more adequate. My objective is very limited. I concentrate solely on the history of the main propositions of the theory of development·as they would ap…
Since the 1990s, several developing economies have, to varying degrees, embraced “financial globalisation”, broadly defined as a set of poli- cies that involve allowing for greater openness to cross-border capital flows as well as greater market access to foreign financial institutions. Developing economies that have become increasingly dependent on and able to attract foreign private savin…
The city has emerged in recent years as an indispensable concept for many of the struggles for social justice we are all engaged in—it’s a place where theory meets practice, where the neighborhood organizes against global capitalism, where unequal divisions based on race and class can be mapped out block by block and contested, where the micropolitics of gender and sexual orientation are su…
The 2007–09 financial crisis has once again put finance back on the agenda. This book examines financial systems and – albeit indirectly – argues that the crisis is the logical outcome of neoliberal capitalism. The main objective of this study then is to demystify the process (or processes) of neoliberalization. More concretely it focuses on the European case study where historically aver…
Ask any business, large or small, to identify one of its most important assets and it is bound to identify its confidential and proprietary information or ‘trade secrets’. This is because it is in the nature of businesses to try to secure a competitive advantage over rivals and inventing the proverbial ‘better mouse- trap’ is one way to do so. Frequently, businesses that invent or crea…
South–South Cooperation (SSC), through enhanced collaboration amongst the countries comprising the Global South, has often been on the front pages since early 1970s, when the United Nations Conference on Trade and Development (UNCTD) promoted the New International Economic Order (NIEO). However, the birth of the Global South as an entity could perhaps be traced to a 1949 speech, when US Presi…
In March 2009, British Prime Minister Gordon Brown called for a “global new deal whose impact can stretch from the villages of Africa to reforming the financial institutions of London and New York—and giving security to hard-working families in every country.” The prime minister proclaimed the need to “work for a more stable world where we defeat not only global terrorism but global pov…
International Political Economy (IPE) is a central component of the interdisciplinary field of International Studies. Its current version is only about three decades old. IPE combines primarily the relevant parts of the disciplines of Political Science and Economics. It also draws on relevant facets of other disciplines such as Sociology, Geography, and Women’s Studies to deepen and broaden t…
ITIS WIDELY BELIEVED that politics and economics are separate and largely unconnected; that individual freedom is a political problem and material welfare an economic problem; and that any kind of political arrangements can be combined with any kind of economic arrangements. The chief contemporary man- ifestation of this idea is the advocacy of "democratic socialism" by many who condemn out of …
How did Western economic learning come to claim status as a separate discipline? When – and how – did it begin to define and organize its own field of specialization, vocabulary, areas of interest and methods of study? What kind of methodological problems were raised by the attempt to make economic knowledge a real science? What ties were there between the study of production, exchange and …
The subject of this study is Rosa Luxemburg’s contribution to economic theory. It arose out of materials gathered for a broader monograph, on the economic views of the Polish–German socialist, that was abandoned by the author. Such a narrowing of the subject-matter may nevertheless have some practical advantages. At a certain stage of research, one of the fundamental duties of the historian…