The Economics of Keynes and Uncertainty in Theory
Rediscovering Common Sense
Modern academic and political establishments generally accept Keynesian economics as the primary theoretical work regarding The General Theory of Employment, Interest, and Money by John Maynard Keynes. However, the discipline of economics has been unable to fully understand Keynes’s ideas, even after almost a century of intense scrutiny since its publication in 1936. This book argues that this is due to the field’s failure to recognize the central theme of Keynes’s ideas, uncertainty. When people do not have all the relevant information on which to base their decisions, they can…
For nearly a century, economics has failed to fully understand Keynes’s ideas. This book argues that this is due to a failure to recognize his central theme: uncertainty. It builds upon Keynes’s ideas on uncertainty and conventions to offer an alternative view of his work.
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This book offers various insights on current hot topics in development economics. The authors address the questions of gender effects, leapfrogging, the factors determining the production frontiers of countries, and the respective roles of financial, monetary and fiscal policies in fostering the development of countries. They also question one of the strategies utilized by policy makers in poor countries: development through trade and financial globalization. They ask whether education has really been a factor in development, and look at the role of those who return to the country after studying…
This book offers insights on current topics in development economics. The authors question common strategies like financial globalization and ask whether education has really been a factor in development. They address gender effects, leapfrogging, and the role of fiscal policy.
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Monetary Policy and Financial Stability
Challenges before and after the Global Financial Crisis
This book explores how monetary policy contributes to the efficient allocation of resources, with special reference made to the contribution of the effective workings of the financial system. It argues that the stability of the financial system promotes the smooth functioning of the payment systems and the effective transmission of monetary policy, thus promoting the achievement of monetary policy objectives. The interrelated issues addressed here include the ways various monetary policy objectives are achieved, their effective presentation to the public, and the strategic role of money growth in…
This book explores how monetary policy and a stable financial system promote growth. Analyzing central bank responses to the global financial crisis, it offers insights for students, researchers, and practitioners into the unending quest to reconcile growth and stability.
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This collection of essays provides a readable, non-technical publication which offers a comprehensive presentation of international economics and macroeconomics issues, trends, data, and likely developments. Readers will learn about Industry 4.0, immigration, productivity and monetary policy, among other pressing topics.
This readable, non-technical collection offers a comprehensive guide to international economics and macroeconomics. Explore pressing topics from Industry 4.0 and immigration to productivity and monetary policy.
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Beyond Capitalism
New Social Architectures
This book is about systemic change in what we consider as capitalism. Far beyond qualifications such as Industry 4.0, the view presented here is that the very structures of capitalism are currently being displaced, and that the present digital revolution is as deep in its impact as the industrial revolution was when it emerged from the agricultural age. Another mode of production is being built, and we are facing a transformation of labor relations, surplus-value extraction, means of production, the role of money and credit, the concept of national borders,…
The digital revolution isn’t just updating capitalism—it’s forging a new system. As profound as the industrial revolution, this transformation is born from the convergence of global crises. This book reveals the world that comes next.
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Even before achieving victorious peace in the war against the Russian aggressor, the process of economic recovery has begun in Ukraine. The purpose of this monograph is to explore the possibilities of the post-war revival of the main sectors of the Ukraine’s economy based on positive world experience and advanced technologies. To obtain practically applicable results, highly qualified researchers from various universities and research centres of Ukraine were involved. The main focus of the monograph is the study of the problems of the transformation and post-war reconstruction of the economy…
This monograph explores the post-war revival of Ukraine’s economy based on world experience and advanced technologies. It offers practical recommendations for participants in reconstruction, while its approaches can be adapted for any country building a new economic model.
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Did you know that the first paid holiday was introduced by Germany in 1903? Or that Frank L. Baum wrote “The Wizard of Oz” inspired by the march of Ohioan unemployed upon Washington D.C.? Or that, until 1974, married American women could not own a credit card without their husbands’ approval? All these things and many more you can find in the book “A Moral History of Monetary and Fiscal Policies”, written by the National Bank of Romania’s Chief Economist Valentin Lazea. The volume targets specialists in history, economics or…
Did the Gold Standard era exploit the working class? Did orthodox macroeconomic policies lead to Nazism? Was Ceausescu wrong to repay all external debt?
“A Moral History of Monetary and Fiscal Policies” by Valentin Lazea tackles these provocative questions and many more.
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The Stock Market Boom and Crash of 1929 Was Not a Bubble
A Book of Readings
In the aftermath of the stock market crash of 1929, Yale University Economics Professor Irving Fisher remained steadfast in his view that the boom in prices had been warranted, pointing to the myriad innovations of the 1920s, including the introduction of the electric unit drive and utility-supplied power. Dismissed by most, this view has since given way to Alan Greenspan’s view of irrational exuberance. This book presents a series of contemporary and period writings which rehabilitate the fundamentals view, showing why Irving Fisher was right. Whereas Fisher was unable to…
After the 1929 crash, Yale Professor Irving Fisher argued the boom was warranted. While his view was dismissed in favor of “irrational exuberance,” this book shows why Fisher was right, pointing to the Smoot-Hawley Tariff as the cause of both the boom and the crash.
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Efficiency and Volatility Dynamics of Bangladesh’s Stock Market
A Macroeconometric Analysis
This book contributes to empirical finance by comprehensively analysing an emerging stock market, employing modern econometric techniques. The most central and fascinating area of financial economics is probably the efficiency and volatility of the stock market – however, studies of emerging economies are relatively limited in this area. The rising importance of stock market globalisation has increased interest in emerging markets. This book leads the way for an emerging market perspective, as it explores the issue of efficiency and volatility of the stock market in Bangladesh by employing both…
This essential guide uses modern econometrics to analyze the efficiency and volatility of emerging stock markets, offering a crucial perspective for investors, academics, and policymakers in developing economies.
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This book serves to define and promote the concept of smart specialization. As such, it is not only theoretical, but also presents a practical process performed in a specific country and the results thereof. It offers recommendations for activities of the European Commission regarding smart specialization processes in the future, and will appeal to policy makers, professionals who develop strategic documents, advisors, bridging organizations, and all who are involved in research and innovation, from professors to entrepreneurs.
This book defines and promotes smart specialization, combining theory with a practical case study and its results. It offers policy recommendations and will appeal to policymakers, professionals, researchers, and entrepreneurs involved in innovation.
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Factors of EU Economic Growth
A Multi-Level Investigation
This book will appeal to scholars and policymakers who deal with and/or are conducting research on the factors of economic growth. At present, there is no unified growth model that is feasible for every investigation. As such, this volume offers key insights into the factors that are most relevant in explaining growth variation at country, regional and metropolitan levels. In order to acquaint the reader with the concepts related to the subject, two theoretical chapters detail the schools of thought and the models that were formulated in the past. Three…
This book offers key insights into the factors explaining economic growth variation at country, regional, and metropolitan levels. It presents an up-to-date, multi-level investigation for the European Union, with policy-oriented results to help close the gaps between EU regions.
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£39.99
The volume consists of twelve chapters that represent updated and revised versions of papers presented at the 11th International Conference on Finance and Banking which took place at Silesian University - School of Business Administration in Karviná, Czech Republic on 17 – 18 October 2007. The chapters are arranged in three thematic parts focusing on exchange rates, financial markets and monetary policy. The purpose of the book is to identify effects of the European monetary integration in financial systems of original, new and potential euro area member countries. The book…
This book identifies effects of the European monetary integration on the financial systems of euro area member countries. It presents a rich collection of original studies by scholars, central bankers, and practitioners on the most relevant issues debated today.
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Economic Growth
Theory and Practice
Today, the average person in the world lives a more comfortable life compared to the richest people in the last century and, in fact, their life is more comfortable than even the kings of the previous centuries. We owe this situation first and foremost to the high growth rates that gained momentum after the industrial revolution. Although high welfare level is not dependent upon economic growth alone, it is a prerequisite for welfare. Nobody craves equality in poverty. In this book, in addition to the theoretical development of economic growth,…
Economic growth is a prerequisite for welfare. This book analyses the theoretical development, sources, and potential effects of economic growth using various methods. It will serve as an essential reference work for researchers and policy makers.
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£70.99
The New Deal was a radical attempt on the part of the Roosevelt Administration to restore full employment and growth to the US economy. It consisted of (i) the National Industrial Recovery Act of 1933 and (ii) the National Labor Relations Act of 1936. These two pieces of legislation have been decried and dismissed by the economics profession with the most vociferous critic being Milton Friedman. This book provides a more accurate account of the causes of its failure, one that, while favorable to the underlying motives, is critical of…
While favorable to the New Deal’s motives, this book is critical of its implementation. It argues the Great Depression was caused by a technological shock that gapped productivity and income. The New Deal sought to close this gap, but its policies were doomed from the start.
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£66.99
This book concentrates on the topic of research on Chinese blockchain payment system development strategies. At the same time, the book provides a deep and thorough fundamental theoretical framework to understand blockchain technology and its developing role in payment systems. The strategy of China as the fastest growing economy should provide vital important insights for countries all over the world. The main content of this book is based on the three major economic theories of "the ternary paradox theory", "the free currency theory" and "the transaction cost theory". Taking the…
This book details China’s strategy for blockchain payment systems, providing a theoretical framework for its developing role. Analyzing the efficiency, cost, and risk of blockchain in cross-border payments, it offers policy suggestions and vital insights for countries worldwide.
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