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Economic Development, Crime, and Policing: Global Perspectives (International Police Executive Symposium Co-Publications)
by Frederic Lemieux Garth Den Heyer Dilip K. DasThe 22nd Annual Meeting of the International Police Executive Symposium was held in August 2012 at the United Nations Plaza in New York. Chaired by Dr. Garth den Heyer, the symposium focused on the links between economic development, armed violence, and public safety. Drawn from these proceedings, Economic Development, Crime, and Policing: Global P
Economic Dignity
by Gene SperlingFrom one of our wisest and most influential economic thinkers, the only person to serve as Director of the National Economic Council under two Presidents, a profound big-picture vision of why the promotion of dignity should be the singular end goal by which we chart America's economic futureWhen Gene Sperling was in charge of coordinating the shaping and execution of the US government's economic policy in the Obama White House, he found himself surprised and dismayed when serious people in Washington worried out loud to him that the Obama focus on health care was a distraction because it was "not focused on the economy." How, he asked, was millions of Americans' fear that they were a single pink slip or a loved one's serious illness away from financial ruin somehow not considered an economic issue? To him, it was just one more example of a more profound truth he witnessed in his many years in our national economic debate: that when it comes to America's economic policy, there is too little focus on what the end goal should be.Too often, he found that our economic debate confused ends and means; that we measured economic success by metrics like GDP instead of whether the economy was succeeding in lifting up the sense of meaning, purpose, fulfillment, and security of people. Too often, he found debates framed by old divisions or pro-market ideology that increasingly failed to capture whether economic policy was fostering exploitation, economic insecurity, and disillusionment that were too often invisible within our current framework. Now more than ever, at a moment when the very capacity of modern capitalism to avoid accelerating inequality, a hollowed-out middle class, and structural poverty is being questioned, we need to step back and reflect on our ultimate goals.Economic Dignity is Sperling's effort to do just that - to frame our thinking about the way forward in a time of wrenching economic change. His argument combines moral and intellectual seriousness with actual high-level policy experience. Economic dignity, Sperling maintains, can be seen as resting on three pillars. The first: the capacity to care for family without economic deprivation denying people the capacity to experience its greatest joys - the birth of one's children, the companionship of a loving partner, the love of family and friends, the fulfillment that comes from providing. The second: the right to the pursuit of potential and purpose, including the right to first and second chances - the right to a life of active striving. The third: economic participation with respect and without domination and humiliation. All three pillars are rooted in the highest and most noble values of the American project. But getting there is the rub, and in Economic Dignity, Sperling offers paths that policymakers and citizens can follow for years to come. As he puts it, if you live in times when major steps forward are needed, it is important to be clear on your destination - or at least to know the North Star that is guiding you. His answer, in two words, is economic dignity.
Economic Diplomacy and Foreign Policy-making
by Charles ChatterjeeThis book aims to identify what components are needed for economic diplomacy in today’s rapidly changing world, looking at the nature, focus and tenets of economic diplomacy, and the differences between economic diplomacy and commercial diplomacy. Further, it considers the new kind of diplomacy that will be required for emerging markets, in contrast to maintaining the traditional techniques used for economic diplomacy between states. The author emphasises the negotiating techniques necessary for successfully engaging in economic diplomacy in the current diplomatic atmosphere. Importantly, it also discusses how to pursue economic diplomacy at international fora and with regard to private foreign investments. Lastly, it addresses the role of non-governmental organisations in economic diplomacy. Given its scope, the book will benefit not only practicing diplomats, but also graduate students.
The Economic Dynamics of Law
by David M. DriesenThis book offers a dynamic theory of law and economics focused on change over time, aimed at avoiding significant systemic risks (like financial crises and climate disruption) and implemented through a systematic analysis of law's economic incentives and how people actually respond to them. This theory offers a new vision of law as fundamentally a macro-level enterprise establishing normative commitments and a framework for numerous private transactions, rather than as an analogue to a market transaction. It explains how neoclassical law and economics sparked decades of deregulation culminating in the 2008 financial collapse. It then shows how economic dynamic theory helps scholars and policymakers make wise choices about how to avoid future catastrophes while keeping open a robust set of economic opportunities, with individual chapters addressing the law and economics of financial regulation, contract, property, intellectual property, antitrust, national security and climate disruption.
Economic Effects of Product Liability and Other Litigation Involving the Safety and Effectiveness of Pharmaceuticals
by Steven GarberLiability effects on the economic performance of the pharmaceutical industry play a prominent role in the debate about the economic effects of product liability in the United States. The author analyzes incentive effects on company decisions, implications for economic outcomes such as drug safety and effectiveness, and suggests how public policy changes could mitigate liability-based sources of inefficient decisions of pharmaceutical companies.
Economic Evaluation, Cost-Benefit Analysis, Economic Ethics: A Review with Regard to Climate Change – Figures in the Sustainability Discourse (Environmental Humanities: Transformation, Governance, Ethics, Law)
by Felix EkardtWith cost-benefit analysis, economic sciences cultivate a specific decision-making procedure, which has also been partially adopted in politics. Although economists do not experience the approach as normative, on closer examination the approach can be identified as an economic ethics. The present philosophical and at the same time transdisciplinary (with special legal and economic components) treatment examines the persuasive power of this approach using climate change as an example, as the most important sustainability issue. The objections raised against the economisation of decision-making with regard to the utilitarian tradition, such as the criticism of the orientation towards weighing up options, the alleged lack of distributive justice or the tendency to describe people in behavioural science as selfish, are hardly or not at all convincing on closer examination. In several respects, however, it turns out that cost-benefit analysis faces insoluble problems. Firstly, the theoretical basis of (hidden normative) cost-benefit analysis in philosophical empiricism does not seem tenable. This means the idea of empiricism that normative questions must be transformed into questions of factual (countable and reproduceable) preferences of people. Secondly, there are massive collisions of cost-benefit analysis with a liberal-democratic constitutional law, whose principles are universal ethical principles. This concerns both freedom rights (which must not depend on the ability of humans to pay) and the model of democracy and respect for the rule of law. Thirdly, insoluble problems of application arise for cost-benefit analyses, which are particularly (but not only) apparent in the context of climate protection, in general considerations as in the case of legislation as well as in individual analyses, as done when constructing a coal-fired power plant. A strongly deflated cost-benefit analysis could nevertheless contribute factual material – such as partial aspects of decision consequences that can actually be depicted in monetary terms – to ethical or legal decision-making processes. In this respect the approach appears helpful and complementary, but not beyond that.
Economic Foundations of International Law
by Eric A. Posner Alan O. SykesThe ever-increasing exchange of goods and ideas among nations, as well as cross-border pollution, global warming, and international crime, pose urgent questions for international law. Here, two respected scholars provide an intellectual framework for assessing these pressing legal problems from a rational choice perspective. The approach assumes that states are rational, forward-looking agents which use international law to address the actions of other states that may have consequences for their own citizens, and to obtain the benefits of international cooperation. It further assumes that in the absence of a central enforcement agency-that is, a world government-international law must be self-enforcing. States must believe that if they violate international agreements, other states will retaliate. Consequently, Eric A. Posner and Alan O. Sykes devote considerable attention to the challenges of enforcing international law, which begin with the difficulties of determining what it is. In the absence of an international constitution, the sources for international law are vague. Lawyers must rely on statements contained in all manner of official documents and on simple observation of states’ behavior. This looseness leads international institutions such as the United Nations to deliver conflicting interpretations of the law’s most basic principles. The authors describe the conditions under which international law succeeds or fails, across a wide range of issues, including war crimes, human rights, international criminal law, principles of state responsibility, law of the sea, international trade regulation, and international investment law.
Economic Foundations of Law
by Stephen J. SpurrThe third edition of Economic Foundations of Law introduces readers to the economic analysis of the major areas of the law: property law, torts, contracts, criminal law, civil procedure, corporation law and financial markets, taxation, and labor law. No prior knowledge of law is required, but a prior course in the principles of microeconomics would be quite helpful. The text opens with a review of the basic principles of price theory and an overview of the legal system, to ensure readers are equipped with the tools necessary for economic analysis of the law. The third edition provides expanded or new coverage of key topics including intellectual property law, how the creation of new forms of property rights affects the conservation of species such as elephants and fish, controversies involving liability for medical malpractice and class actions, the transformation of personal injury litigation by the intervention of insurance companies as plaintiffs, how to predict the outcome of litigation with game theory, an economic analysis of the ownership and use of guns, bankruptcy law and the economics of bank regulation. Comprehensive and well-written, this text is a compelling introduction to law and economics that is accessible to both economics and law students.
Economic Foundations of Law second edition
by Stephen SpurrEconomic Foundations of Law (2nd ed.) provides an economic analysis of the major areas of the law: property law, torts, contracts, criminal law, civil procedure, corporation law and financial markets, taxation and labor law. In line with current trends in legal scholarship, discussion is focused on economic principles such as risk aversion, efficiency, opportunity cost, moral hazard, rent-seeking behaviour and economies of scale. Accessible, comprehensive and well written, this book uses extensive practical examples and explanations to illustrate key points. There are numerous applications to lawyers and the legal profession, with detailed discussions of subjects as diverse as the proposed market for transplantable human organs, the market for adoptions, the market for bail bonds, the unanticipated effects of Megan’s law, and issues of racial profiling. Fully updated and revised, a new chapter on labor law has also been included.
Economic Freedom and Social Justice: The Classical Ideal of Equality in Contexts of Racial Diversity (Palgrave Studies in Classical Liberalism)
by Wanjiru NjoyaThis book analyses the egalitarian foundations of equality law from a classical liberal perspective by asking two central questions: does justice ideally demand equality? Are differences in abilities among people in some sense unfair? The book examines these questions in the context of racial diversity. Racial justice as a component of social justice is often considered to be so emotionally and morally compelling that its implications for economic freedom are rarely subjected to critical scrutiny. In defending the classical ideal of formal equality in contexts of racial diversity this book questions the ethical status of egalitarian social and moral ideals. Economic Freedom and Social Justice argues that egalitarian ideals, like all subjective value judgements, must be subjected to critical intellectual inquiry rather than treated axiomatically. Drawing upon the legal framework in the UK and other common law jurisdictions, this book shows some of the ways in which egalitarian ideals, in addition to resting on false premises, are costly, harmful, and ultimately inimical to justice and liberty. The book argues that legal entitlements and policy guidelines constructed upon notions of racial equity are wrongly constituted as the main prism through which liberal market democracies govern private relationships, including the employment relationship. Written in a clear and forthright style, this book will be of interest to students and scholars in law, economics, philosophy and political economy.
Economic Gangsters: Corruption, Violence, and the Poverty of Nations
by Ray Fisman Edward MiguelGetting inside the heads of the developing world’s dictators, warlords, and corrupt politiciansMeet the economic gangster. He's the United Nations diplomat who double-parks his Mercedes on New York City streets at rush hour because the cops can't touch him—he has diplomatic immunity. He's the Chinese smuggler who dodges tariffs by magically transforming frozen chickens into frozen turkeys. The dictator, the warlord, the unscrupulous bureaucrat who bilks the developing world of billions in aid. The calculating crook who views stealing and murder as just another part of his business strategy. And, in the wrong set of circumstances, he might just be you.In Economic Gangsters, Raymond Fisman and Edward Miguel take readers into the secretive, chaotic, and brutal worlds inhabited by these lawless and violent thugs. Join these two sleuthing economists as they follow the foreign aid money trail into the grasping hands of corrupt governments and shady underworld characters. Spend time with ingenious black marketeers as they game the international system. Follow the steep rise and fall of stock prices of companies with unseemly connections to Indonesia's former dictator. See for yourself what rainfall has to do with witch killings in Tanzania—and more.Fisman and Miguel use economics to get inside the heads of these "gangsters," and propose solutions that can make a difference to the world's poor—including cash infusions to defuse violence in times of drought, and steering the World Bank away from aid programs most susceptible to corruption.In a new postscript, the authors look at how economists might use new tools to better understand, and fight back against, corruption and violence in the aftermath of the 2008 financial crisis. Take an entertaining walk on the dark side of global economic development with Economic Gangsters.
Economic Impacts of Intellectual Property-Conditioned Government Incentives
by Hefa Song Dan Prud'HommeThis book provides new insights into the economic impacts, strategic objectives and legal structures of an emerging branch of government incentives conditioned on meeting intellectual property-related requirements. Despite becoming more common in recent years, such incentives - ranging from patent fee subsidies and patent box tax deductions to inventor remuneration schemes - are still under-researched. A diverse range of analytical methods, including econometric analyses, case studies and comparative legal analysis, are used to study these incentives in countries in Europe and China. Scholars, policymakers and practitioners can benefit from the conceptual and practical insights as well as policy recommendations provided.
Economic Inequality and Poverty: International Perspectives (Routledge Revivals Ser.)
by Lars OsbergThis title was first published in 1991: This collection focuses on the concepts and measurements of inequality, poverty, the concentration of wealth, and the implications of these issues for social policies. A special feature of this work is the international comparisons of the evidence on economic inequality.
Economic Justice: Philosophical and Legal Perspectives
by Helen M. Stacy Win Chiat LeeThe economic impact of the U. S. financial market meltdown of 2008 has been devastating both in the U. S. and worldwide. One consequence of this crisis is the widening gap between rich and poor. With little end in sight to global economic woes, it has never been more urgent to examine and re-examine the values and ideals that animate policy about the market, the workplace, and formal and informal economic institutions at the level of the nation state and internationally. Re-entering existing debates and provoking new ones about economic justice, this volume makes a timely contribution to a normative assessment of our economic values and the institutions that active those norms. Topics covered by this volumes essays range from specific or relatively small-scale problems such as payday lending and prisoners' access to adequate healthcare; to large-scale such as global poverty, the free market and international aid. Economic Justice will stimulate and provoke philosophers, policy makers, the engaged readers who and better outcomes from financial institutions and more effect distribution of economic goods.
Economic Justice and Liberty: The Social Philosophy in John Stuart Mill’s Utilitarianism (Routledge Studies in the History of Economics #157)
by Huei-chun SuThis new book reopens the debate on theories of justice between utilitarian theorists and scholars from other camps. John Rawls’ 1971 publication of A Theory of Justice put forward a devastating challenge to the long-established dominance of utilitarianism within political and moral philosophy, and until now no satisfactory and comprehensive utilitarian reply has yet been put forward. By expounding John Stuart Mill’s system of knowledge and by reconstructing his utilitarianism, Huei-chun Su offers a fresh and comprehensive analysis of Mill’s moral philosophy and sheds new light on the reconciliation of Mill’s idea of justice with both his utilitarianism and his theory of liberty. More than a study of Mill, this book uses a systematic framework to draw a comparison between Mill’s theory of justice and those of John Rawls, Amartya Sen, and Friedrich von Hayek. It hence establishes common ground between different schools of thought in the fields of economics and philosophy, and enables more effective dialogue. This book will be indispensable both to those interested in Mill’s moral philosophy and to those seeking a solid theoretical basis for analyzing the idea of justice, as well as to anyone with an interest with the history of economics, economic philosophy and the history of economic thought more generally.
Economic Justice and Natural Law
by Gary ChartierGary Chartier elaborates a particular version of economic justice rooted in the natural law tradition, explaining how it is relevant to economic issues and developing natural law accounts of property, work, and economic security. He examines a range of case studies related to ownership, production, distribution, and consumption, using natural law theory as a basis for staking positions on a number of contested issues related to economic life and highlighting the potentially progressive and emancipatory dimension of natural law theory.
Economic Law Reforms in the ASEAN Emerging Economies: A Review of Three Decades’ Paths (Kobe University Monograph Series in Social Science Research)
by Terukazu Suruga Phanhpakit Onphanhdala Yuka KanekoThis book reviews the periodic changes in the legal policies of the late-developing ASEAN countries, often known as the CLMV countries (Cambodia, Laos, Myanmar, and Vietnam), in their continuous path toward globalization after the collapse of the socialist bloc. The book also identifies the characteristics of the legal reforms in their present stage guided by the common framework under the ASEAN Economic Community (AEC) moving toward 2025.The first stage is illustrated by the ASEAN-style utilization of foreign investments as reflected in all investment laws and policies of CLMV countries in the 1990s, which featured entry control (as “sticks”) and investment incentives (as “carrots”). Those controls and incentives were the means to induce investors to assume various performance requirements to contribute to industrial policies. The second stage witnessed a shift toward enhanced liberalization as an endeavor toward the WTO accession during the 2000s, as seen in the integrated investment laws that appealed for the national treatment of foreign investors. At the same time, those investment laws emphasized the substantive provisions (e.g., fair and equitable treatment and indirect expropriation) and procedural protections (e.g., provision of Investor–State Dispute Resolution mechanisms) as an appeal for stabilization of the investment climate. The third stage of legal policy, as evidenced by the recent amendments to the investment laws, is newly focused on environmental and social considerations, which seems to be an indispensable response to the increasing social protests against the negative impacts of investment promotion. Simultaneously, the means of administrative controls over investors, established in the first stage, are uniquely utilized for the realization of new goals.
Economic Liberties and the Constitution
by Bernard H. SieganIn this seminal work, Bernard Siegan traces the history of onstitutional protection for economic liberties in the United States. He argues that the law began to change with respect to economic liberties in the late 1930s. At that time, the Supreme Court abdicated much of its authority to protect property rights, and instead condoned the expansion of state power over private property.Siegan brings the argument originally advanced in the .first edition completely up to date. He explores the moral position behind capitalism and discusses why former communist countries flirting with decentralization and a free market (for instance, China, Cambodia, Vietnam, and Laos) have become more progressive and prosperous as a result. He contrasts the benefits of a free, deregulated economy with the dangers of over-regulation and moves towards socialized welfare most specifically as happened during Franklin Roosevelt's presidency. Supporting his thesis with historical court cases, Siegan discusses the past and present status of economic liberties under the Constitution, clarifies constitutional interpretation and due process, and suggests ways of safeguarding economic liberties.About the original edition, Doug Bandow of Reason noted, "Siegan has written a vitally important book that is sure to ignite an impassioned legal and philosophical debate. The reason the necessity for protecting economic liberty is no less than that guaranteeing political and civil liberty." Joseph Sobran of the National Review wrote, "Siegan...makes a powerful general case for economic liberty, on both historical and more strictly empirical grounds.... Siegan has done a brilliant piece of work, not only where it was badly needed, but where the need had hardly been recognized until he addressed it." And Edwin Meese remarked that, "This timely and important book shows how far we have drifted from protecting basic liberties that the Framers of the Constitution sought to secure. I recommend it highly." This new, completely revised edition of Economic Liberties and the Constitution will be essential reading for students of economics, history, public policy, law, and political science.
Economic Losses and Mitigation after an Employment Termination: Theory, Applications, and Case Studies
by Dwight StewardThis Palgrave Pivot provides a conceptual and practical discussion of the factors that comprise a standard economic damage model in an employment termination case. This book discusses the economic factors and assumptions that comprise an economic damages model in an employment termination case. It also provides a discussion of the valuation of employee fringe benefits and employee stock option valuations. Background on the concept of discounting and discussions of the required information in employment cases are also provided. Readers are able to see the analysis in action, with case studies revolving around highly skilled individuals, less skilled individuals, public sector employees, highly educated individuals, managers and executives, and defamation and damage to reputation.
Economic Objects and the Objects of Economics
by Peter Róna László ZsolnaiThis book examines the nature of economic objects that form the subject matter of economics, and studies how they resemble or differ from the objects studied by the natural sciences. It explores the question of whether economic objects created by modern economics sufficiently represent economic reality, and confronts the question whether tools, techniques and the methodology borrowed from the natural sciences are appropriate for the analysis of economic reality. It demonstrates the unsustainability of rational choice theory. It looks at economic agents, such as individuals, groups, legally constituted entities, algorithms, or robots, how they function and how they are represented in economics. The volume further examines the extent, if any, that mathematics can represent the objects of the economy, such as supply and demand, equilibrium, marginal utility, or the money supply as they actually occur in the economy, and as they are represented in economics. Finally, the volume explores whether the subject matter of economics – however defined – is the proper subject of theoretical knowledge, whether economics is an analytic or a descriptive discipline, or if it is more properly seen in the domain of practical reason. Specifically, the book looks at the importance and the ambiguity of the ontology of modern economics, temporality, reflexivity, the question of incommensurability, and their implications for economic policy.
Economic Perspectives on Government (Foundations of Government and Public Administration)
by Keith Dowding Brad R. Taylor“Dowding and Taylor offer student and scholar alike a clear and compelling perspective on the foundations of political economy. Their narrative coherently frames the scholarship of the last half century, and persuasively applies it to the recurring problems facing groups, markets, and whole societies.”—Kenneth A. Shepsle, Harvard University, USAThis book introduces and applies the economic way of thinking to public policy and public administration. It provides a non-technical introduction and assumes no prior economic or mathematical training but looks closely at the methodological and normative assumptions underlying economic analysis. It provides a deep understanding of the method than a simple technical presentation would allow. After introducing the basic assumptions of the economic method, the book considers the analysis of market failure, the role of government in a market economy, behavioural economics, bargaining in government, bureaucracy, interest groups, and levels of government. By providing a balanced introduction to and overview of economic approaches to government, the book will be useful to undergraduate and postgraduate students in public administration and public policy, as well as academics and practitioners in these fields interested in the application of the economic way of thinking.
Economic Policy and Equity
by Vito TanziDuring the past decade, income gaps have widened in many parts of the world, industrial as well as developing. These have heightened concern about equity issues in economic policymaking. Equity and growth can be complementary: investment in human capital, for example, can boost growth in the long run. But choices are not always so easy. If growth and equity do not go hand in hand, when and how should governments ensure that the size of the pie increases and that everybody gets a fair share? This volume brings together the views not only of senior policymakers and academics but also of religious leaders and labor leaders from around the world who participated in an unprecedented IMF conference on the topic in June 1998. Contents include: Stanley Fischer, A View from the IMF IMF Fiscal Affairs Department, Should Equity Be a Goal of Economic Policy? Amartya Sen, Economic Policy and Equity: An Overview Anthony Atkinson, Equity Issues in a Globalizing World: The Experience of OECD Countries Lawrence Summers, Equity in a Global Economy Equity-Oriented Policymaking: Country Experience Eduardo Aninat and others, Addressing Equity Issues in Policymaking: Grzegorz Kolodko, Equity Issues in Policymaking in Transition Economies Anibal Cavaco Silva, Political Economy and the Equity-Policy Agenda Alberto Alesina, Too Large and Too Small Governments Enrique Iglesias, Equity Issues in Latin America Vito Tanzi is director of the Fiscal Affairs Department of the IMF. Ke-young Chu is a senior advisor and Sanjeev Gupta is a division chief in the department. An International Monetary Fund Book
Economic Policy in the Digital Age: How Technology is Challenging the Principles of the Market Economy (Contributions to Economics)
by Jörg J. DötschThis book addresses how digital technology is challenging the principles of the market economy and the consequences for economic policy. Applying the approach of the Freiburg School as a heuristic perspective, the study examines the concrete effects of digital technology on the price system and monetary policy, the openness of markets, the role of private property, and labour markets. It highlights the emergence of digital innovations such as digital currencies, digital goods, artificial intelligence, digital platforms and the sharing economy and discusses the challenges these innovations pose for economic governance and the development of adequate economic policy instruments. This comprehensive overview provides a basic understanding of the scope of the digital transformation and addresses a wide scale of important aspects of e.g. competition and trade policy, the impact of robotisation on labour market policy, and how economic policy must incorporate social aspects. The book appeals to scholars and students of economics, public management professionals, and anyone interested in the challenges of digitalisation in the context of economic policy.
Economic Psychology: An Introduction (Journal Of Psychology Ser.)
by Erich Kirchler Erik HoelzlEconomic Psychology is the only up-to-date, English-language textbook that provides a comprehensive overview of theoretical topics in economic psychology and their relevance in applied fields. Written by two leading psychologists, the book looks at how people make decisions on the use of scarce resources, in particular money, from a psychological perspective. Starting with decision making and lay theories as basic building blocks of economic behaviour, the authors go on to explore three major markets where economic behaviour occurs as an interaction between individuals and companies or institutions - consumer markets, labour markets and financial markets - before considering the challenges of collective cooperation and economic prosperity. Featuring numerous applied examples throughout, each chapter also includes an overview, a summary, figures, key terms, student questions and suggestions for further reading. This introduction is an essential resource for advanced undergraduate and postgraduate courses on economic psychology, behavioural economics and social psychology.
The Economic Psychology of Incentives
by Alexander PepperThis book proposes a revised theory of agency, drawing on ideas from behavioural economics and built on more robust assumptions about human behaviour than the standard principal-agent model. The book proposes new design principles for executive pay, but also explains the difficulties in changing current executive pay practices.