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State and Local Pensions
by Alicia H. MunnellIn the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause.Alicia H. Munnell draws on both her practical experience and her research to provide a broad perspective on the challenge of state and local pensions. She shows that the story is big and complicated and cannot be viewed through a narrow prism such as accounting methods or the role of unions.By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well.Munnell's analysis concludes that the plans in serious trouble need a major overhaul. But even the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
State and Local Pensions
by Alicia H. MunnellIn the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause.Alicia H. Munnell draws on both her practical experience and her research to provide a broad perspective on the challenge of state and local pensions. She shows that the story is big and complicated and cannot be viewed through a narrow prism such as accounting methods or the role of unions.By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well.Munnell's analysis concludes that the plans in serious trouble need a major overhaul. But even the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
State and Local Public Finance
by Ronald C. FisherNow in its 4th edition, State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. For this new edition, there is a focus on the most important services provided in the state-local sector: education, health and welfare, public safety, and transportation. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behaviour and policies of state and local governments. The author presents detailed descriptions of significant institutions. Modern economic theory is applied to examine the way these institutions are used to produce and finance services, and to provide evaluation of alternative policies. Although the emphasis is on U.S. institutions and issues, much of the economic analysis can be applied to any federal system or to fiscal decentralization. This fully revised new edition sees updates throughout to data, topics, and applications. The Headlines and Applications sections reflect the most current policy issues affecting state and local governments. These include the effects of the Great Recession on state and local governments, changes in the tax treatment of internet purchases, the Affordable Care Act and implications for Medicaid spending by state governments, demographic changes and the implications for state-local finances, the implications of changes in automobile technology for transportation financing, and the potential for increased gambling activity. This text will continue to be invaluable reading for those who study public finance, local government finance, urban economics and public policy and public administration.
State and Local Public Finance
by Ronald C. FisherState and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. This fifth edition maintains its focus on key local services such as education, health care, and transportation and brings in new coverage of land use and housing, applications from behavioral economics, and more international comparisons. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behavior and policies of state and local governments. Modern economic theory is applied to examine the way key institutions are used to produce and finance services and to provide evaluation of alternative policies. This stalwart text will continue to be invaluable reading for those who study public finance, local government finance, urban economics, public policy, and public administration.
State And Local Public Finance (Fourth Edition)
by Ronald C. FisherNow in its 4th edition, State and Local Public Finance provides a comprehensive and sophisticated analysis of state and local government public finance practices and issues, using the basic tools of economics. For this new edition, there is a focus on the most important services provided in the state-local sector: education, health and welfare, public safety, and transportation. This textbook provides an examination and analysis of public finance practices and problems in a federal fiscal system, focusing on the fiscal behavior and policies of state and local governments. The author presents detailed descriptions of significant institutions. Modern economic theory is applied to examine the way these institutions are used to produce and finance services, and to provide evaluation of alternative policies. Although the emphasis is on U. S. institutions and issues, much of the economic analysis can be applied to any federal system or to fiscal decentralization. This fully revised new edition sees updates throughout to data, topics, and applications. The Headlines and Applications sections reflect the most current policy issues affecting state and local governments. These include the effects of the Great Recession on state and local governments, changes in the tax treatment of internet purchases, the Affordable Care Act and implications for Medicaid spending by state governments, demographic changes and the implications for state-local finances, the implications of changes in automobile technology for transportation financing, and the potential for increased gambling activity. This text will continue to be invaluable reading for those who study public finance, local government finance, urban economics and public policy and public administration.
State and Municipal Bonds (Routledge Revivals)
by William L. RaymondWith twenty-one years’ experience in the investment bond business, Raymond uses his experience in this study to demonstrate the key issues related to state, county, municipal and district bonds through the use of the most recent data of the time. Originally published in 1923, this version was republished in 1936 to ensure that all figures and arguments were up-to-date. This title will be of interest to students of Business, Economics and Finance.
The State and Revolution
by V. I. LeninLenin's most important and controversial theoretical textLenin&’s booklet The State and Revolution struck the world of Marxist theory like a lightning bolt. Written in the months running up to the October Revolution of 1917, Lenin turned the traditional socialist concept of the state on its head, arguing for the need to smash the organs of the bourgeois state to create a &‘semi-state&’ of soviets, or workers&’ councils, in which ordinary people would take on the functions of the state machine in a new and radically democratic manner.This new edition includes a substantial introduction by renowned theorist Antonio Negri, who argues for the continued relevance of these ideas.
State and Social Welfare, The: The Objectives of Policy (Routledge Studies In The Political Economy Of The Welfare State Ser.)
by Thomas Dorothy WilsonAims to review the issues raised by the state provision of social benefits and to examine the principles on which their provision may be deemed to rest.
State And Society In Brazil: Continuity And Change
by John D Wirth Edson De Nunes Thomas BogenschildThis volume grew out of a conference series sponsored jointly by the Stanford-Berkeley Joint Center for Latin American Studies and the Instituto Universitario de Pesquisas do Rio de Janeiro (IUPERJ). Entitled "Opportunities and Constraints in Peripheral Industrial Society: The Case of Brazil," the first conference was held in Nova Friburgo in July 1983 and was followed up by another at Berkeley in late January 1984. In the course of our discussions, the subject matter widened so that a new title was chosen for this book. Also,in the interim, as Brazil made the transition to democracy and returned to economic growth, many topics on the agenda for the 1980s emerged in clearer focus, so that the chapters have all been sharpened and upgraded. In the division of labor that produced this book, Nunes coordinated the project at Berkeley and in Brazil, while Wirth and Bogenschild did the editing.
State and Statehood in the Global South: Theoretical Approaches and Empirical Studies
by Miriam Fahimi Elmar Flatschart Wolfram SchaffarThis book focuses on critical approaches to the state and state theory in the Global South. In light of the reemergence of the post-colonial and peripheral state as a crucial institution and actor in the 21st century’s capitalist world-system, the book examines the nature, functions and development dynamics of the state in the periphery, as well as its constituting interests and struggles. Drawing on the works of Poulantzas and Gramsci, dependency and world-systems theory, as well as the regulation school and the German Ableitungsdebatte, stategraphy and critical realism, it analyzes the development of different theoretical perspectives on the state, elaborates on their theoretical, ontological and epistemological presuppositions, and illustrates their methodological, practical and ethical implications. The book is divided into three parts, the first of which provides an overview of recent global capitalist developments and challenges for state theory and lays the theoretical, ontological and hermeneutic foundation for studies of the state and statehood in the Global South. In turn, the second part introduces readers to different schools of state theory, including critical theory and materialism, as well as approaches derived from postcolonial, anthropological, and feminist thought. Lastly, the third part presents various empirical studies, highlighting concrete methodological and practical experiences of conducting critical state theory.
The State and the Economy Under Capitalism (Fundamentals Of Pure And Applied Economics Ser.)
by A. PrzeworskiFirst published in 2001. Routledge is an imprint of Taylor & Francis, an informa company.
The State and the Farmer (Routledge Library Editions: Agribusiness and Land Use #23)
by Peter Self Herbert J. StoringOriginally published in 1987, this book is written primarily for planners, public administrators and project managers in countries or international agencies considering a development strategy in which agribusiness and rural enterprise projects are viewed as a desirable policy instrument for generating employment and income. It makes available the background and methodology of project analysis so that agribusiness and rural enterprise project can be designed, implemented and reviewed effectively in a wide range of circumstances. It outlines how to establish objectively the potential and limitations of agribusiness and rural enterprise projects; provides guidelines for deciding whether a project can be effective; considers the policy issues relating to such projects and suggests techniques for judging project performance.
The State and the Private Sector in Latin America
by Mauricio FontThis book follows ten political economic histories since the 1970s, showing how different forms of partnership have developed, flourished or declined over the time. The author's argument is supported by rich empirical material. It places partnership schemes in a broader social context and provides a deep insight into the phenomenon.
The State and the Stork: The Population Debate and Policy Making in US History
by Derek S. Hoff&“A powerful model of how to understand the complex array of issues that will shape the political economy of population in the future.&”—American Historical Review From the founders&’ fears that crowded cities would produce corruption, luxury, and vice to the zero population growth movement of the late 1960s to today&’s widespread fears of an aging crisis as the Baby Boomers retire, the American population debate has always concerned much more than racial composition or resource exhaustion, the aspects of the debate usually emphasized by historians. In The State and the Stork, Derek Hoff draws on his extraordinary knowledge of the intersections between population and economic debates throughout American history to explain the many surprising ways that population anxieties have provoked unexpected policies and political developments—including the recent conservative revival. At once a fascinating history and a revelatory look at the deep origins of a crucial national conversation, The State and the Stork could not be timelier. &“Hoff has done a real service by bringing to the foreground the economic dimension of U.S. debates over population size and growth, a topic that has been relegated to the shadows for too long.&”—Population and Development Review &“After decades of failed efforts by the scientific community to alert the public to the environmental dangers of population growth and overpopulation, a first-rate historian has finally detailed both the arguments and their policy implications . . . Everyone interested in population should read The State and the Stork. This is an incredibly timely book.&”—Paul R. Ehrlich, author of The Population Bomb
The State as Utopia
by Jürgen BackhausThis book examines utopias in classical political economy and is based on the papers presented by leading scholars at the 22nd Heilbronn Symposium in the Economics and the Social Sciences. The book focuses on the tension between the State and utopia (the State as utopia vs. utopia instead of a state). The contributors also study the question of whether seafaring and landlocked states visualize the commonwealth differently and develop different utopias, and it is concluded they do not. The volume therefore follows the refutation of the Schumpeterian Hypothesis that more concentrated industries stimulate innovation. Though the hypothesis is refuted it still remains important, the chapters argue, because it charts out an entire research program, serves as a benchmark of definite public and private sector boundaries, and defines the grammar of discourse for constitutional economic policy in OECD states. These themes are explored in detail through contributions by economists, philosophers, and social historians. The contributors examine utopias hitherto never or rarely reviewed in the English language, making this book of interest to students and scholars in economics, political science and the history of economic thought.
State Bank of India: Transforming a State Owned Giant
by Rajiv Lal Rachna TahilyaniFebruary 2011: O.P. Bhatt reflected contentedly on his five-year term as Chairman of State Bank of India (SBI), India's largest commercial bank. He had led SBI on a journey of transformation from an old, hierarchical, transaction oriented, government bank to a modern, customer focused, and technologically advanced universal bank. In 2006, when Bhatt assumed leadership, SBI had been losing market share for over two decades to private and foreign banks. Analysts and industry observers had predicted that at the prevailing growth rates ICICI Bank, a private bank launched in 1994, would overtake SBI in terms of deposits in four years. However, by 2010, SBI had more than doubled its profits, deposits and advances; regained market share and won the Asian Banker Achievement award for the strongest bank in the Asia Pacific region.
State Bank of India: Transforming a State Owned Giant
by Rachna Tahilyani Rajiv LalFebruary 2011: O.P. Bhatt reflected contentedly on his five-year term as Chairman of State Bank of India (SBI), India's largest commercial bank. He had led SBI on a journey of transformation from an old, hierarchical, transaction oriented, government bank to a modern, customer focused, and technologically advanced universal bank. In 2006, when Bhatt assumed leadership, SBI had been losing market share for over two decades to private and foreign banks. Analysts and industry observers had predicted that at the prevailing growth rates ICICI Bank, a private bank launched in 1994, would overtake SBI in terms of deposits in four years. However, by 2010, SBI had more than doubled its profits, deposits and advances; regained market share and won the Asian Banker Achievement award for the strongest bank in the Asia Pacific region.
State Building and Development
by Keijiro Otsuka Takashi ShiraishiWhy does a huge income gap still exist between developed and developing countries? Plausible causes on the surface may be the difference in technology, the quality of human resources, and economic institutions, but on the deeper level the gap reflects the success and failure of state building which is vital for economic development. This book provides cutting-edge knowledge on state building, economic development, and democratization based on case studies of Japan, ASEAN, South Asia, and selected countries in sub-Saharan Africa. The book examines the interaction between land policies and the state building in sub-Saharan Africa. It also pays special attention to corruption, which affects the relationship between the state and the development, and decentralization, which exerts influences on the contentious politics. Finally, the book also sheds new light on the failure and success of industrial policies based on a literature review and a case study of the rapidly growing pharmaceutical industry in Bangladesh. This book is one of the few studies which squarely addresses state building and economic development, and will be of use to those interested in this subject, development practitioners, and policymakers in developing countries.
State Building and Social Policies in Developing Countries: The Political Economy of Development (Routledge Studies in Development Economics)
by Rashed Al Mahmud TitumirThis book moves away from the orthodox neoliberal paradigm to suggest a new framework linking social policy with citizenship and transformation. The interjection of nation-building, public society and public provisioning to the study of education, healthcare and employment caters to the needs of citizens equitably. By combining and coagulating these three broad arenas of politico-economic discussion, this book takes a new approach to the analysis of social policymaking in developing countries to indicate the drivers and triggers of transformation. It makes comprehensive, thorough critical comparisons between the trajectories of developed and developing countries, finds out the gaps in transformation, and suggests drivers for changes. The intentions of social policymaking, as proposed in the book, are to curb the growing inequalities in the forms of class, power and marginalisation. The chapters on education focus on provisioning of public goods for skills formation, innovation and citizenship education. The sections on healthcare centre on universal healthcare as opposed to universal health coverage by analysing access, healthcare seeking behaviour, price setting, market provisioning etc. For the chapters on employment, propositions are posited regarding expansion of productive capacity, factor mobility and social security to ensure work for all. Besides theorising education, healthcare and employment based on public provisioning by the people’s state, underwritten by a public society, the book provides feasible solutions through data sourced from all major international organisations. In addition, it recognises the unique post-colonial struggles and aspirations of the developing countries, and accordingly resorts to defining the above normative principles, reflecting nuances, subtleties and peculiarities. This book is a continuation of Fiscal and Monetary Policies in Developing Countries: State, Citizenship and Transformation (Routledge) and will draw the attention of scholars and researchers who wish to gain a deeper understanding of, and pragmatic solutions to, social policies that address the transformational pathways of developing countries, accentuated by the COVID-19 pandemic.
The State, Business, and Industrial Change in Canada
by Michael M. AtkinsonThe late twentieth century has seen profound changes in the character of the international economic order. According to the authors of this study, Canada has failed to come to terms with those changes. Our industrial policy is diffuse, ad hoc, and sectoral. Michael Atkinson and William Coleman argue that in order to analyse Canada's industrial policy effectively, particular attention must be given to industry organization, state structures, and systems of interest intermediation at the sectoral level. To make such an analysis they introduce the concept of policy network, and apply it to three types of industrial sectors: the research-intensive sectors of telecommunications manufacturing and pharmaceuticals; the rapidly changing sectors of petrochemicals and meat processing; and the contracting and troubled sectors of textiles, clothing, and dairy processing. Through the lens of these sectors Coleman and Atkinson shed considerable light on the intersection of political considerations and policy development, and offer a new base on which to move forward in planning for economic growth.
State-Business Relations and Economic Development in Africa and India (Routledge Studies in Development Economics)
by Kunal SenWhen the state and business interact effectively they can promote a more efficient allocation of scarce resources, appropriate industrial policy and a more effective and prioritised removal of key obstacles to growth, than when the two sides fail to co-operate or engage in harmful collusion. This book, based on original empirical research undertaken in Africa and India, addresses what constitutes the effectiveness of state-business relations, what explains their formation and evolution over time and whether effective state-business relations matter for economic performance. Analysing the effects of state-business relations on economic performance at both the macro and micro levels, the book concludes that where effective state-business relations are established – either through formal or informal institutional patterns and relationships – the growth effects are generally positive. Establishing, sustaining and renewing effective state-business relations are political processes. The better organized the business community and the government are for purposes of such relations, the more effective state-business relations will be in negotiating growth enhancing policies. The book is of interest to researchers in the fields of development studies, management, economics and political science.
State Capital and Private Enterprise: The Case of the UK National Enterprise Board (Routledge Library Editions: Public Enterprise and Privatization)
by Daniel C. KramerTo what extent can governments supplement private venture capitalists and stimulate the economy by providing money to new entrepreneurs as well as existing enterprises? The UK’s National Enterprise Board (NEB) attempted to do just this, and whilst it gained most publicity through its efforts to bail out ailing giants such as British Leyland and Rolls Royce Aerospace, much of its attention was actually directed to smaller ventures. Originally published in 1988 Professor Kramer reports that the NEB’s record of success was surprisingly good, and that many flourishing undertakings would not be in business today had it not been for the NEB’s efforts. The author goes further, and after discussing the political and economic issues involved in according public aid to private enterprises on a case by case basis, he argues that not only should the UK revive its NEB, but that other countries, notably the United States, could benefit by establishing their own versions of it. Indeed, throughout, the author’s perspective as an outsider makes him peculiarly alive to the relevance of the UK example to a whole range of international cases. As the first scholarly, full-length study of the NEB, this book will be of value to those interested in the relationships between venture capitalists generally and the enterprises in which they take equity. It will also interest those studying the relationship between holding companies and their subsidiaries.
State Capitalism: How the Return of Statism is Transforming the World
by Joshua KurlantzickThe end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism Joshua Kurlantzick ranges across the world - China, Thailand, Brazil, Russia, South Africa, Turkey, and more - and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.
State-centric to Contested Social Governance in Korea: Shifting Power (Routledge Studies on Modern Korea)
by Hyuk-Rae KimIn this interdisciplinary study of governance, Hyuk-Rae Kim traces how civil society and NGOs have evolved over time, how they differ in motivation from their Western counterparts, and the role civil society NGOs have played in consolidating democracy as the governance system in Korea changes from a state-centric to a contested one. This book presents civil society's rise in Korea through in-depth analyses of today's most pressing issues, in order to chart the shifting role of a formerly state-centric to a contested governance system in modern Korea. With detailed case studies and policy discussions, this book explores the role of NGOs in campaigning for political reform and the eradication of political corruption; the provision of public goods and services; challenging the government’s policies on migration; tackling the issue of North Korean refugees and human rights; and the provision of regional environmental governance. These case studies demonstrate that the state is no longer the sole guardian and provider of public institutions and goods and underline the growing role of civil society in Korea. Both a study of contested governance and an exploration of contemporary Korean society, this book will be of imminent interest to students and scholars alike of Korean politics, East Asian politics, governance, and civil society.
The State, Class and Developmentalism in South Korea: Development as Fetish (Routledge Advances in Korean Studies)
by Hae-Yung SongThis book problematises the statist underpinnings of the concept of the ‘developmental state,’ in terms of both state–society and national–global relations, challenging the notion that the state is the agent of national development qua being autonomous from the domestic and global economies. Presenting a thorough and comprehensive critical assessment of the extant approaches and theories of the Korean developmental state in particular, this book demonstrates that the existing literature, including Marxist critiques, only inadequately and partially challenge statism. It examines how statism reinforces and is reinforced by ‘Third World Developmentalism’, the idea that ‘development’ is in itself a positive goal and that a nationally autonomous mode of development should be promoted as a means of empowerment. In opposition, this book offers a critique of statism by constructing an alternative theoretical framework, extending Marx’s concept of commodity fetishism to state–society and national–global relations. Drawing on a new theoretical framework and significant Korean literature, The State, Class and Developmentalism in South Korea offers a novel historical interpretation and critique of the developmental state in the Korean context. As such, it will be useful to students and scholars of Asian studies, Development Studies and International Political Economy.