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Subject: Economics

Freedom, Authority and Economics: Essays on Michael Polanyi's Politics and Economics

Edited by R. T. Allen

October 2016 / ISBN: 978-1-62273-131-2
Availability: In stock
$60 £48 €55

This edited volume of original contributions deals with the economic and political thought of Michael Polanyi. Requiring little prior knowledge of Polanyi, this volume further develops a somewhat neglected side of Polanyi's work. In particular it examines the 'tacit integration', of subsidiary details into focal objects or actions as central to all knowing and action. It traces ontological counterparts in the structures of comprehensive entities and complex actions, and a multi-level universe in which lower levels have their boundary conditions, the extents to which they apply, determined by those of the next higher level, whilst each possessing its own laws or operative principles. This schema of 'dual control' preserves the reality and relative autonomy of each level, and its interactions with others, against the various reductions. The essays in this volume also employ and develop important additional concepts and distinctions such as: 'corporate' and 'spontaneous' order; 'public' and 'private' liberties; 'general' and 'specific authority'; and 'moral inversion'; which, as the essays show, are necessary for understanding and maintaining a free society and the freedom of institutions within it. Among the topics treated with them are: more of the prerequisites of freedom in public liberties dedicated to principles and transcendent values; totalitarianism and society as spontaneous order; the balance of general and specific authority in society and particular institutions; reductionism, totalitarianism and consumption in consumer societies, as moral inversions; the mutual interactions of economics and politics as distinct and autonomous but interacting levels; the sociological aspects of economics; and Polanyi's own contributions to sociology. Although, as indicated, Polanyi has his special terms, the essays in this volume, like his works, give them meaning with concrete examples and so avoid merely shuffling a mass of abstractions. Together the essays show that his work is a rich seam of ideas and inspiration for yet further extension and application.

Marketing & Economics

An integrative approach to making effective business decisions in the global marketing world.

Sultan Kermally

July 2016 / ISBN: 978-1-62273-104-6
Availability: In stock
$40 £28 €30

This book bridges the disciplines of economics and marketing and brings them to bear on the analysis of contemporary business problems. The world has changed dramatically over the last four decades. Sociologically, technologically, economically and politically speaking the world is changing at an increasing pace. The spread of ideas and values are reinforcing the impact of globalization on various business operations and activities. As the late Peter Drucker once remarked: “while you were out the world changed.” To make sense of to the world we live in, we are compelled to draw from diverse disciplines and subjects.This book focuses on the contributions of economics and marketing. The basic principles, theories and issues of economics are selected and are integrated with key elements and principles of marketing. Marketers, in conventional as well as in digital markets, are encouraged to integrate marketing with economics in order to make successful and effective business decisions. Marketing and Economics are subjects dealing with business – business of private firms, not-for-profit organisations and that of government. Economics involves allocation of scarce resources. Scarcity in economics is relative scarcity, scarcity in relation to demand. Written in a casual, accessible language and taking very little for granted, this book is for anyone who is curious about economics and marketing. It provides the essential analytical framework necessary for thriving in today's business. In its diverse chapters it covers topics such as offshoring, the circular economy, benchmarking, mergers and acquisitions, knowledge and innovation, services industries, customer relationships, advertising and communication, among others. It is particularly well suited to undergraduates in business or economics and its fresh perspectives on today's challenges would be of interest to business managers and marketing professionals.

Understanding DSGE models

Theory and Applications

Celso Jose Costa Junior, São Paulo School of Economics, Brazil

June 2016 / ISBN: 978-1-62273-038-4
Availability: In stock
$70 £58 €65

While the theoretical development of DSGE models is not overly difficult to understand, practical application remains somewhat complex. The literature on this subject has some significant obscure points. This book can be thought of, firstly, as a tool to overcome initial hurdles with this type of modeling. Secondly, by showcasing concrete applications, it aims to persuade incipient researchers to work with this methodology. In principle, this is not a book on macroeconomics in itself, but on tools used in the construction of this sort of models. It strives to present this technique in a detailed manner, thereby providing a step by step course intended to walk readers through this otherwise daunting process. The book begins with a basic Real Business Cycle model. Subsequently various frictions are gradually incorporated into a standard DSGE model: imperfect competition; frictions in prices and in wages ; habit formation; non-Ricardian agents; adjustment cost in investment; costs of not using the maximum installed capacity; and finally, Government.

The Challenge of Credit Supply

American Problems and Solutions, 1650-1950

Michael Anthony Kirsch

March 2016 / ISBN: 978-1-62273-056-8
Availability: In stock
$65 £50 €55

This book is for anyone seeking a succinct and accessible treatment of the most pivotal financial and monetary policies throughout American history from 1650-1950. But it is especially written for those who desire an intricate and detailed knowledge of how and why these policies worked with respect to the supply of adequate credit for economic development. A thorough examination of key credit institutions and their specific powers, functions, mechanisms, context, and economic impact brings the reader to a recognition of which policies and institutions were successful and unsuccessful in supporting the economy and preventing crisis. Its extensive use of primary sources, period literature, and carefully chosen quotations allows the reader to participate in the original discussion and issues that faced Americans in each era. This vivid account leads to a unique grasp of relationships between essential facts, ideas, and time periods. The reader is rewarded with the rare experience of seeing the evolution of three hundred years of policy development as an integrated process. The book’s content will be new and provoking to the academic, policy maker, and economist, but is presented in a manner and style ensuring comprehension for a general audience and those new to the topics involved. Many of the lessons learned in the course of the investigation are relevant and applicable to modern economic and financial policies.

Boom and Bust: Ecuador’s Financial Rollercoaster

The interplay between finance, politics and social conditions in 20th Century Ecuador

Pablo R. Izurieta Andrade

December 2015 / ISBN: 978-1-62273-470-2
Availability: In stock
$50 £38 €45

Throughout the history of Ecuador, the ambivalent evolution of major political and social events such as the stability of serving presidents, coups and even war, has coincided with changes in the financial environment. The product of careful historical study, "Boom & Bust: Ecuador’s Financial Rollercoaster" combines evidence from prior studies with original research, including data from the Central Bank of Ecuador, unpublished diplomatic papers and documents from the personal archives of relevant historical figures. A central finding is that the export performance of Ecuador's three primary commodities - cacao, bananas and oil - has significantly shaped 20th-century Ecuadorian history. Synthesis of old and new insights reveals how the state of the nation’s economy has frequently determined the outcome of critical events. All the while, the strength, immediacy and direction of the relationships examined has varied. The book would appeal to anyone with an interest in Ecuador's recent history as well as specialists and scholars of Latin American economic and political history.

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