economism bad economics and the rise of inequality

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Economism

Author : James Kwak
ISBN : 9781101871201
Genre : Business & Economics
File Size : 70. 59 MB
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Here is a bracing deconstruction of the framework for understanding the world that is learned as gospel in Economics 101, regardless of its imaginary assumptions and misleading half-truths. Economism: an ideology that distorts the valid principles and tools of introductory college economics, propagated by self-styled experts, zealous lobbyists, clueless politicians, and ignorant pundits. In order to illuminate the fallacies of economism, James Kwak first offers a primer on supply and demand, market equilibrium, and social welfare: the underpinnings of most popular economic arguments. Then he provides a historical account of how economism became a prevalent mode of thought in the United States—focusing on the people who packaged Econ 101 into sound bites that were then repeated until they took on the aura of truth. He shows us how issues of moment in contemporary American society—labor markets, taxes, finance, health care, and international trade, among others—are shaped by economism, demonstrating in each case with clarity and élan how, because of its failure to reflect the complexities of our world, economism has had a deleterious influence on policies that affect hundreds of millions of Americans.

Shadow Networks

Author : Francisco Louçã
ISBN : 9780192563286
Genre : Business & Economics
File Size : 44. 70 MB
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The 2007-08 financial crisis surprised many economists and the public. But how did the crisis come about, why was it so deep, and why has the clean-up been so slow and painful? Many accounts of the crisis focus on renegade activity in marginal financial sectors. Shadow Networks challenges this pervading view and sets out to demonstrate that, far from a dissident branch, the shadow finance that initiated the crisis is tightly networked with, and highly profitable for, bank-based finance. The collapse was not an accident, but baked into the system of finance from the start. Shadow Networks traces the complex web of power that caused crisis and gives vivid descriptions of the actors in the quarter century leading up to 2007 to explain how the now decade-long crisis took shape. Shadow Networks: Financial Disorder and the System that Caused Crisis is a probing examination of the roles of the powerful elite. It traces the networks and institutions that support a finance-focused, market centered model of economy and society from their ascendancy to their surprising resilience in the face of manifest failures.

The Rise And Fall Of Political Orders

Author : Richard Ned Lebow
ISBN : 9781108610582
Genre : Political Science
File Size : 73. 86 MB
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Drawing on political theory, comparative politics, international relations, psychology and classics, Ned Lebow offers insights into why social and political orders form, how they evolve, and why and how they decline. Following The Tragic Vision of Politics and A Cultural Theory of International Relations, this book thus completes Lebow's trilogy with an original theory of political order. He identifies long- and short-term threats to political order that are associated respectively with shifts in the relative appeal of principles of justice and lack of self-restraint by elites. Two chapters explore the consequences of late-modernity for democracy in the United States, and another chapter, co-authored with Martin Dimitrov, the consequences for authoritarianism in China. The Rise and Fall of Political Orders forges new links between political theory and political science via the explicit connection it makes between normative goals and empirical research.

Licence To Be Bad

Author : Jonathan Aldred
ISBN : 9780241325445
Genre : Business & Economics
File Size : 71. 38 MB
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Over the past fifty years, the way we value what is 'good' and 'right' has changed dramatically. Behaviour that to our grandparents' generation might have seemed stupid, harmful or simply wicked now seems rational, natural, woven into the very logic of things. And, asserts Jonathan Aldred in this revelatory new book, it's economics that's to blame. Licence to be Bad tells the story of how a group of economics theorists changed our world, and how a handful of key ideas seeped into our decision-making and, indeed, almost all aspects of our lives. Aldred reveals the extraordinary hold of economics on our morals and values. Economics has corrupted us. But if this hidden transformation is so recent, it can be reversed. Licence to be Bad shows us where to begin.

The Inequality Trap

Author : William Watson
ISBN : 9781442637245
Genre : Capitalism
File Size : 87. 10 MB
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Argues that focusing on inequality is an error because much inequality is "good," the reward for thrift, industry, and invention, and also a trap because it leads us to fixate on the top end of the income distribution rather than on those at the bottom who need help most. Asserts that responding to growing inequality by fighting capitalism rather than poverty may lead to both more poverty and less equality.

The Age Of Increasing Inequality

Author : Lars Osberg
ISBN : 9781459413139
Genre : Business & Economics
File Size : 75. 75 MB
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Canada is in a new era. For 35 years, the country has become vastly wealthier, but most people have not. For the top 1%, and even more forthe top 0.1%, the last 35 years have been a bonanza. Canadians know very well that there's a huge problem. It's expressed in resistance to tax increases, concerns over unaffordable housing, demands for higher minimum wages, and pressure for action on the lack of good full time jobs for new graduates. This book documents the dramatic and rapid growth in inequality. It identifies the causes. And it proposes meaningful steps to halt and reverse this dangerous trend. Lars Osberg looks separately at the top, middle and bottom of Canadian incomes. He provides new data which will surprise, even shock, many readers. He explains how trade deals have contributed to putting a lid on incomes for workers. The gradual decline of unions in the private sector has also been a factor. On the other end of the scale, he explains the growing high salaries for corporate executives, managers, and some fortunate professionals. Lars Osberg believes that increasing inequality is bad for the country, and its unfairness is toxic to public life. But there is nothing inevitable about this, and he points to innovative measures that would produce a fairer distribution of wealth among all Canadians.

Contending Approaches To The Political Economy Of Taiwan

Author : Edwin A. Winckler
ISBN : 0873327713
Genre : Business & Economics
File Size : 40. 13 MB
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This work compares IT parks in China, India, Malaysia, Singapore, Taiwan, and Hawaii, in search of strategies that policy makers can employ to reduce the Global Digital Divide, advance distributional equity, and soften some of the negative effects of economic globalization.

Income Distribution

Author : Michael Sattinger
ISBN : NWU:35556032613648
Genre : Income distribution
File Size : 49. 96 MB
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With increasing interest in the distribution of income generated by movements towards more inequality, this three-volume set presents an essential collection of previously published articles by leading scholars, which provide a key to understanding this important and controversial area. Volume I considers the problems of measurement and description and explores theories explaining the shape of distribution; it investigates explanations of the upper tail in terms of hierarchies and organisations and presents research on the dynamics of incomes. Volume II considers the determinants of an individual's income on the one hand and analyses the factors influencing the entire distribution on the other. Non-labour income and policies that influence distribution are discussed in volume III.This collection will be of great interest to economists, statisticians and policymakers concerned with understanding the complex determinants of income distribution and inequality in our societies.

The Price Of Inequality

Author : Joseph Stiglitz
ISBN : 9780718197391
Genre : Social Science
File Size : 76. 53 MB
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Nobel Laureate Joseph Stiglitz explains why we are experiencing such destructively high levels of inequality - and why this is not inevitable The top 1 percent have the best houses, the best educations, the best doctors, and the best lifestyles, but there is one thing that money doesn't seem to have bought: an understanding that their fate is bound up with how the other 99 percent live. Throughout history, this is something that the top 1 percent eventually do learn - too late. In this timely book, Joseph Stiglitz identifies three major causes of our predicament: that markets don't work the way they are supposed to (being neither efficient nor stable); how political systems fail to correct the shortcomings of the market; and how our current economic and political systems are fundamentally unfair. He focuses chiefly on the gross inequality to which these systems give rise, but also explains how inextricably interlinked they are. Providing evidence that investment - not austerity - is vital for productivity, and offering realistic solutions for levelling the playing field and increasing social mobility, Stiglitz argues that reform of our economic and political systems is not just fairer, but is the only way to make markets work as they really should. Joseph Stiglitz was Chief Economist at the World Bank until January 2000. He is currently University Professor of the Columbia Business School and Chair of the Management Board and Director of Graduate Summer Programs, Brooks World Poverty Institute, University of Manchester. He won the Nobel Prize for Economics in 2001 and is the best-selling author of Globalization and Its Discontents, The Roaring Nineties, Making Globalization Work and Freefall, all published by Penguin.

International Development

Author : Bruce Currie-Alder
ISBN : 9780191651694
Genre : Business & Economics
File Size : 22. 33 MB
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Thinking on development informs and inspires the actions of people, organizations, and states in their continuous effort to invent a better world. This volume examines the ideas behind development: their origins, how they have changed and spread over time, and how they may evolve over the coming decades. It also examines how the real-life experiences of different countries and organizations have been inspired by, and contributed to, thinking on development. The extent to which development 'works' depends in part on particular local, historical, or institutional contexts. General policy prescriptions fail when the necessary conditions that make them work are either absent, ignored, or poorly understood. There is a need to grasp how people understand their own development experience. If the countries of the world are varied in every way, from their initial conditions to the degree of their openness to outside money and influence, and success is not centred in any one group, it stands to reason that there cannot be a single recipe for development. Each chapter provides an analytical survey of thinking about development that highlights debates and takes into account critical perspectives. It includes contributions from scholars and practitioners from the global North and the global South, spanning at least two generations and multiple disciplines. It will be a key reference on the concepts and theories of development - their origins, evolution, and trajectories - and act as a resource for scholars, graduate students, and practitioners.

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