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Nature and Economic Society: A Classical-Keynesian Synthesis (Routledge Frontiers of Political Economy)
Par Tony Aspromourgos. 2024
This book focuses on the interrelationship between nature and the human economy. Building upon his decades of research into classical…
and Keynesian economics, Tony Aspromourgos here turns his attention to the interrelationship between nature and the human economy. The result is a tightly argued, concise but comprehensive interpretation of that vital issue, undertaken in the framework of a Classical-Keynesian synthesis. The classical dimension is utilization of a surplus approach to production and distribution, and the Keynesian dimension, incorporation of demand-side determination of economic activity levels and growth. In this conception the human economy is understood as a circular flow but an incompletely circular system: crucially dependent upon nature both as a source of finite non-renewable and exhaustible resources for human production and consumption and as the destination or ‘sink’, also finite, for the waste and pollution from that production and consumption. This is an introductory account of the subject, providing maximum accessibility by presupposing only basic knowledge of economic analysis and only elementary algebra, but including a wide-ranging guide to further and more advanced relevant literature. Part I provides a comprehensive overview of the Classical-Keynesian approach, in the usual manner of economic analysis, without systematic incorporation of nature. Part II then incorporates the various dimensions of the natureeconomy interrelationship. This book will be of great interest to readers of economic theory, economics and the environment, and heterodox economics.Economics and Psychology: An Uneasy History (Routledge Advances in Behavioural Economics and Finance)
Par Stavros Drakopoulos, Ioannis Katselidis. 2024
With the rise of modern behavioural economics and increasing interest in subjective well-being research, the question of the relationship between…
economics and psychology has again been brought to the fore. Drawing on the history of economic thought, this book explores the historical relationship between the two disciplines. The book opens with a description of the primary philosophical foundations for early arguments supporting the interplay between economics and psychology. Both classical economists and other prominent pre-marginalists writers are examined in this context. The ensuing discussion explores the marginalist revolution and how well-known economists like Jevons and Edgeworth, influenced by pre-marginalist writers, incorporated ideas and findings from psychology. The book then describes how, following the so-called “Paretian turn”, early neoclassical economists attempted to expel psychological concepts from economic analysis. Combined with the increasing formalization, the influence of the classical physics scientific ideal, and the impact of positivism, this methodological stance became dominant in modern mainstream economics. In contrast, non-mainstream traditions continued to acknowledge the significance of psychology in their economic analysis. Thistradition includes inter alia the so-called old behavioural economics, mainly of Herbert Simon and George Katona. The revival of psychology in economics came mainly with the emergence and development of new behavioural economics as a distinct branch during the last few decades. The trend was further assisted by the emergence of the economics of subjective well-being. Finally, the book briefly explores the state of the current debate concerning the relationship between economics and psychology. This book will be invaluable reading to anyone interested in the history of the study of economics and psychology, as well as of great interest to students and scholars of history of economic thought, psychological economics, behavioural economics and the history and philosophy of social sciences.Integral Economics: Releasing the Economic Genius of Your Society (Transformation and Innovation)
Par Ronnie Lessem, Alexander Schieffer. 2010
Why on earth is economics perceived to come in only one or at best two different a-cultural if not a-moral…
guises? There are real, and many, alternatives to the economic mainstream. The trouble is, of course, that they are hidden from us. In Integral Economics Ronnie Lessem and Alexander Schieffer pave the way for a sustainable approach to economics, building on the richness of diverse economic approaches from all over the globe. By introducing the most evolved economic perspectives and bringing them into creative dialogue they argue that neither individual enterprises nor wider society will be transformed for the better without a new economic perspective. Here, they introduce a comprehensive framework based on the same 'Four Worlds' model that is applied to enterprise and research in their earlier works. Given the richness of even mainstream economic theory reviewed in this book, let alone the variety of alternative approaches introduced, it is frustrating that policymakers and business practitioners are impoverished by a lack of apparent economic choice - between a seemingly failing capitalism and an already failed communism. The 'villains of the piece' in relation to this lack of choice are not so much the financial community and governments, though they do have much to answer, but the schools of economics and the business schools, that have created the very social ethos, the philosophical principles, and the mathematical models, that influence events. Integral Economics is partly addressed to academics and students in those very schools, who have either realized the error of their ways, or, less dramatically, are curious to explore whether our businesses and communities could be run in a different way. It will be welcomed by informed senior practitioners, eager to understand the current rethink of economic theory and practice and to discover how to position themselves, their organizations, and their society within a new framework.The banking and financial sector has expanded dramatically in the last forty years, and the consequences of this accelerated growth…
have been felt by people around the world. European Banks and the Rise of International Finance examines the historical origins of the financialised world we live in by analysing the transformations in world finance which occurred in the decade from the first oil crisis of 1973, until the debt crisis of 1982. This a crucial and formative decade for understanding the modern financial landscape, but it is still mostly unexplored in economic and financial history. The availability of new archival evidence has allowed for the re-examination of issues such as the progressive privatisation of international financial flows to Less Developed Countries, especially in Latin America and South-East Asia, and its impact on the expansion of the European banking sector, and for the development of an invaluable financial and political history. This book is well suited for those interested in monetary economics and economic history, as well as those studying international political economy, banking history and Financial history.Science, Religion and Society: An Encyclopedia of History, Culture, and Controversy
Par Gary Laderman, Arri Eisen. 2010
This unique encyclopedia explores the historical and contemporary controversies between science and religion. It is designed to offer multicultural and…
multi-religious views, and provide wide-ranging perspectives. "Science, Religion, and Society" covers all aspects of the religion and science dichotomy, from humanities to social sciences to natural sciences, and includes articles by theologians, religion scholars, physicians, scientists, historians, and psychologists, among others. The first section, General Overviews, contains essays that provide a road map for exploring the major challenges and questions in science and religion. Following this, the Historical Perspectives section grounds these major questions in the past, and demonstrates how they have developed into the six broad areas of contemporary research and discussion that follow. These sections - Creation, the Cosmos, and Origins of the Universe; Ecology, Evolution, and the Natural World; Consciousness, Mind, and the Brain; Healers and Healing; Dying and Death; and Genetics and Religion - organize the questions and research that are the foundation of the enormous interest, and controversy, in science and religion today.Full Employment in a Free Society: A Report (The Works of William H. Beveridge)
Par William Beveridge. 1960
Beveridge defined full employment as a state where there are slightly more vacant jobs than there are available workers, or…
not more than 3% of the total workforce. This book discusses how this goal might be achieved, beginning with the thesis that because individual employers are not capable of creating full employment, it must be the responsibility of the state. Beveridge claimed that the upward pressure on wages, due to the increased bargaining strength of labour, would be eased by rising productivity, and kept in check by a system of wage arbitration. The cooperation of workers would be secured by the common interest in the ideal of full employment. Alternative measures for achieving full employment included Keynesian-style fiscal regulation, direct control of manpower, and state control of the means of production. The impetus behind Beveridge's thinking was social justice and the creation of an ideal new society after the war. The book was written in the context of an economy which would have to transfer from wartime direction to peace time. It was then updated in 1960, following a decade where the average unemployment rate in Britain was in fact nearly 1.5%.Can It Happen Again?: Essays on Instability and Finance (Routledge Classics)
Par Hyman Minsky. 2016
In the winter of 1933, the American financial and economic system collapsed. Since then economists, policy makers and financial analysts…
throughout the world have been haunted by the question of whether "It" can happen again. In 2008 "It" very nearly happened again as banks and mortgage lenders in the USA and beyond collapsed. The disaster sent economists, bankers and policy makers back to the ideas of Hyman Minsky – whose celebrated 'Financial Instability Hypothesis' is widely regarded as predicting the crash of 2008 – and led Wall Street and beyond as to dub it as the 'Minsky Moment'. In this book Minsky presents some of his most important economic theories. He defines "It", determines whether or not "It" can happen again, and attempts to understand why, at the time of writing in the early 1980s, "It" had not happened again. He deals with microeconomic theory, the evolution of monetary institutions, and Federal Reserve policy. Minsky argues that any economic theory which separates what economists call the 'real' economy from the financial system is bound to fail. Whilst the processes that cause financial instability are an inescapable part of the capitalist economy, Minsky also argues that financial instability need not lead to a great depression. This Routledge Classics edition includes a new foreword by Jan Toporowski.Paranormal America (second edition): Ghost Encounters, UFO Sightings, Bigfoot Hunts, and Other Curiosities in Religion and Culture
Par F. Mencken, Christopher Bader, Joseph Baker. 2017
The untold account of the countless Americans who believe in, or personally experience, paranormal phenomena such as ghosts, Bigfoot, UFOs…
and psychics Given the popularity of television shows such as Finding Bigfoot, Ghost Hunters, Supernatural, and American Horror Story, there seems to be an insatiable public hunger for mystical happenings. But who believes in the paranormal? Based on extensive research and their own unique personal experiences, Christopher Bader, Joseph Baker and Carson Mencken reveal that a significant number of Americans hold these beliefs, and that for better or worse, we undoubtedly live in a paranormal America. Readers will join the authors as they participate in psychic and palm readings, and have their auras photographed, join a Bigfoot hunt, follow a group of celebrity ghost hunters as they investigate claims of a haunted classroom, and visit a support group for alien abductees. The second edition includes new and updated research based on findings from the Baylor Religion survey regarding America’s relationship with the paranormal. Drawing on these diverse and compelling sources of data, the book offers an engaging account of the social, personal, and statistical stories of American paranormal beliefs and experiences. It examines topics such as the popularity of paranormal beliefs in the United States, the ways in which these beliefs relate to each other, whether paranormal beliefs will give rise to a new religion, and how believers in the paranormal differ from “average” Americans. Brimming with fascinating anecdotes and provocative new findings, Paranormal America offers an entertaining yet authoritative examination of a growing segment of American religious culture.A new era is emerging in which a group of quantitative methods featuring characteristics of multidimensional comparative analysis (MCA) and…
multi-criteria decision-making analysis (MCDA) can be used to automate objective decision-making processes. This book introduces the character of the criteria (desirable, non-desirable, motivating, demotivating, and neutral) to MCDA and MCA methods. It presents the author’s own developed methods, the preference vector method (PVM), for solving multi-criteria problems in decision making; and, vector measure construction method (VMCM), which is dedicated to solving typical problems in the field of multidimensional comparative analysis. All methods are explained step by step with relevant examples, primarily in the fields of economics and management.Einführung in die Energiewirtschaft: Ressourcen und Märkte
Par Hans-Wilhelm Schiffer. 2023
Studierende und interessierte Leser/innen erhalten eine Einführung in die Mechanismen der Energiewirtschaft. Dies beginnt mit den Rohstoffressourcen, deren Verfügbarkeit und…
der Preisbildung. Szenarien der weltweiten Energieversorgung führen zu nationalen Betrachtungen der Märkte für Öl, Erdgas, Braunkohle, Steinkohle sowie Elektrizität und der wachsenden Bedeutung erneuerbarer Energien. Zahlreiche Grafiken und Schaubilder veranschaulichen die Zusammenhänge und Wirkungen. Besonderheiten, bemerkenswerte Sachverhalte oder aus der Sicht der Praxis besonders relevante Fragestellungen sind im Text besonders gekennzeichnet. Der Autor bringt eine umfangreiche Praxiserfahrung mit, die er in dieses Buch einfließen lässt.This book examines green transition and circular economy in the fields of building design and Real Estate management. By outlining…
windows for seizing the opportunity to integrate circular approaches in current building practices, the book provides information tools to support building stakeholders (e.g. building designer and managers, manufacturers, Real Estate owners, maintenance operators, facility managers, etc.) in: (i) understanding circular re-strategies (e.g. reuse, remanufacturing, repurposing, etc.), the related requirements and the pre-conditions for their implementation within building design and management practices; (ii) reviewing design approaches at the product and building scale, also highlighting new circularity-related contents for the Briefing Documents; (iii) developing circular organizational and contract models for the procurement of Facility Management services, also integrating new circularity-related contents in Invitations to Tenders (ITTs); and (iv) assessing the quality and the effectiveness of circular practices, also highlighting circularity performance metrics and indicators in the context of corporate sustainability reporting.The Physics of Wall Street: A Brief History of Predicting the Unpredictable
Par James Weatherall. 2013
A look inside the world of &“quants&” and how science can (and can&’t) predict financial markets: &“Entertaining and enlightening&” (The…
New York Times). After the economic meltdown of 2008, Warren Buffett famously warned, &“beware of geeks bearing formulas.&” But while many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. Taking us from fin-de-siècle Paris to Rat Pack–era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, James Owen Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The crisis was partly a failure of mathematical modeling. But even more, it was a failure of some very sophisticated financial institutions to think like physicists. Models—whether in science or finance—have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn&’t understand their purpose, and didn&’t care. It was a catastrophic misuse of science. The solution, however, is not to give up on models; it&’s to make them better. This book reveals the people and ideas on the cusp of a new era in finance, from a geophysicist using a model designed for earthquakes to predict a massive stock market crash to a physicist-run hedge fund earning 2,478.6% over the course of the 1990s. Weatherall shows how an obscure idea from quantum theory might soon be used to create a far more accurate Consumer Price Index. The Physics of Wall Street will change how we think about our economic future. &“Fascinating history . . . Happily, the author has a gift for making complex concepts clear to lay readers.&” —BooklistThe Routledge Handbook of Commodification (Routledge International Handbooks)
Par Bertrand Elodie. 2023
Some goods are freely traded as commodities without question or controversy. For other goods, their commodification – their being made…
available in exchange for money, or their being subject to market valuation and exchange – is hotly contested. “Contested” commodities range from labour and land, to votes, healthcare, and education, to human organs, gametes, and intimate services, to parks and emissions. But in the context of a market economy, what distinguishes these goods as non-commodifiable, or what defines them as contestable commodities? And why should their status as such justify restricting the market choices of rationally consenting parties to otherwise voluntary exchanges? This volume draws together wide-ranging, interdisciplinary research on the legitimate scope of markets and the kinds of goods that should be exempt therefrom. In bringing diverse answers to this question together for the first time, it finally identifies commodification studies as a unique field of scholarly research in its own right. In so doing, it fosters interdisciplinary dialogue, advances scholarship, and enhances education in this controversial, important, and growing field of research. Contemporary theorists who examine this question do so from across the disciplinary spectrum and ground their answers in diverse scholarly literature and divergent methodological approaches. Their arguments will be of interest to scholars and students of philosophy, economics, law, political science, sociology, policy, feminist theory, and ecology, among others. The contributors to this volume take diverse and divergent positions on the benefits of markets in general and on the possible harms of specific contested markets in particular. While some favour free markets and others regulation or prohibition, and while some engage in more normative and others in more empirical analysis, the contributors all advance nuanced and thoughtful arguments that engage deeply with the complex set of moral and empirical questions at the heart of commodification studies. This volume collects their new and provocative work together for the first time.From the Monastery to the City: Hildegard of Bingen and Francis of Assisi (Past Light on Present Life: Theology, Ethics, and Spirituality)
Par Roger Haight, SJ, Alfred Pach III, and Amanda Avila Kaminski. 2024
This volume brings together texts of the twelfth-century Hildegard of Bingen and the early-thirteenth-century Francis of Assisi to represent religious…
spirituality after the Gregorian Reform and just prior to or simultaneous with the formation of universities in Western Europe. In an extraordinary way, Hildegard embodies monastic theology and spirituality and provides a contrast to the new thing that would be created with the study of theology in the new Aristotelian idiom of the universities. But equally in contrast to the Benedictine Hildegard, the thirteenth century witnessed a renewed enthusiasm for a more literal following of Christ in a life of penitence and poverty. This is a life of dependence, not on a superior and enclosed community but on the compassion of society at large. Francis would join this movement on his own terms, attract a following, and gradually formulate a spirituality that sent signals of the need to reform individual lives and the institutions of the Church. These two authors, then, are not joined here because of any shared similarity but to help illustrate two quite different spiritualities that animated the lively European twelfth and thirteenth centuries.Critical Game Theory: Humanistic and Radical Alternatives to the Mainstream
Par Wayne Eastman. 2024
The models in mainstream game theory generally assume that actors act according to a single, consistent utility function. Empirical studies,…
common sense, and humanistic wisdom all suggest that that assumption is too simple. This book starts with an assumption that actors are controlled by diverse, inconsistent forces and demonstrates that introducing this level of complexity allows for the creation of a wide array of critical game theory models that can help to attain new insights into nature, human nature, human institutions, and human behaviour. Along with a review of existing critical game theory, the book will focus on surfacing and explaining an array of potential critical game theory approaches (including Leftist/Neo-Marxist, Empirical, Entropic, Four Temperaments, and Neurodivergence). As a rule, these models will not be mathematically tractable—but the more complex accounts of interactions that they suggest will often be truer to life, more resonant in humanistic terms, and more compelling as bases for action and for change than mainstream models are. For each chapter, the first part will present a story or case, followed by discussions and explanations couched in nontechnical terms, without the use of matrices. In the third part of each chapter, matrices along with game trees and programs will be used before the last part summarizes the findings. The vision of critical game theory advanced in the book will be of significant interest to researchers in an array of theoretical and applied disciplines, including but not limited to literature, psychology, political science, economics, computer science, ethics, business ethics, law, and law and economics.Heterodox Economics and Global Emergencies: Voices from Around the World (Routledge Frontiers of Political Economy)
Par Eurydice Fotopoulou, Ariane Agunsoye, Thoralf Dassler, Jon Mulberg. 2024
From the financial crash to the climate emergency and Covid, this book demonstrates that recent crises have had unequal impacts,…
that they require a heterodox approach to economics for their understanding, and new ways of thinking are needed to address them. Drawing on a variety of heterodox and radical perspectives and global voices, including those from India, Africa, and South America, this collection explores the causes and impacts of global emergencies from a wide array of viewpoints. The first section outlines how the pandemic has shown up the biases of orthodox thought and policy, particularly its Eurocentric and patriarchal focus on the urban, formal economy. It outlines how adding an international dimension to institutional analysis uncovers systematic inequalities in the responses to emergencies, and how new paradigms can provide better alternatives. The massive interventionism worldwide has led to renewed interest in the global financial system, and also in Marxian approaches to money. The second section of the book therefore considers a range of alternative approaches to the study of finance – from Marx to Minsky – which are currently being revisited. The collection concludes with a suggestion for heterodox economics pedagogy, since changing economics education is vital for future dissemination of real-world ideas. The book will be of interest to a variety of researchers and postgraduate students, and lecturers, especially in the fields of development, health, labour and feminist economics, also international political economy and heterodox economics.This book sheds new light on the general equilibrium theory of Léon Walras (1834–1910) from a historical perspective. Walras's construction…
of general equilibrium theory marked the dawn of modern economics, and the theory was greatly developed in the 20th century. However, Walras's own intentions and ideas behind the theory are still not fully understood. This book aims to clarify the intellectual background of Walras’s economics by delving into his original writings, which have not received much attention until now. Part 1 of the book reconsiders the relationship between Walras and his predecessors, Adam Smith (1723–1790), Jean-Baptiste Say (1767–1832), and Achylle Nicolas Isnard (1749–1803), who are believed to have had a decisive influence on Walras's general equilibrium theory. In Part 2, the book explores Walras's views on the labor market, entrepreneurship, and non-selfish human nature, including concepts like sympathy, which have been overlooked in his general equilibrium theory and subsequently misunderstood to this day. Walras’s economic thought is one of the foundational sources of modern economics. An accurate and in-depth understanding of it will provide a new perspective on the problems faced by modern economics and open future possibilities for economics as a social science. This book offers new insights not only to researchers and students of the history of economics but also to all those interested in the origins of modern economics.Providing a comparative analysis of Central and Eastern European economies, this book explores the economic impacts of populism in those…
countries in the region which have seen some form of populist rule. Populism has been thriving in the new member states of the EU ever since the outburst of the global financial and economic crisis, but unlike the cases of Latin America, Brexit or the Trump administration, the emphasis has not been on trade protectionism or unsustainable macroeconomic policies in these countries. This book demonstrates that studying macroeconomic variables such as fiscal balance or current account positions cannot tell the whole story of the economic consequences of populism. Instead, a more nuanced scrutiny of who gets what under populist rule is required. Adopting the ideational definition of populism, the volume shows that Central and Eastern European populists have heavily reshaped redistributive policies; yet, they have not neglected the budget constraint of the general government. Instead, there has been a tendency to disregard the institutional constraints of decision-making in the economy and, in turn, to redefine the regulatory framework and property rights structure of the respective economies. This innovative edited volume will be of interest to readers in political economy and political science who wish to better understand the impacts of populism.In the era of complex healthcare challenges, the question arises: Can health cooperatives be the catalysts for transformation in the…
healthcare system? This research monograph delves into this thought-provoking query, exploring the potential of health cooperatives as influential entities in the future of healthcare. Despite advancements, healthcare systems still need help with sustainability, equality, costly therapies and various other segments. This monograph aims to dissect the notion of "Healthy lives and well-being for everyone," protracted by policymakers and proponents of the existing healthcare setup. Researchers, cooperative professionals, healthcare practitioners, decision-makers, patients, policy developers, librarians and booksellers will find this book relevant and interesting to read. The captivating narrative is supported by analysing 20 countries across five continents, explaining their historical and modern notion of the context and health cooperatives' development. It also sheds light on the significance of modern cooperatives in the current healthcare landscape. In addition, the monograph offers insights into multiple case studies of health-oriented cooperatives showing their diversity and flexibility in operations. This research monograph paves the way for envisioning a future where health cooperatives have the potential to play an important role in addressing various challenges affecting positive societal changes.Introduction to Stochastic Processes Using R
Par Shailaja Deshmukh, Sivaprasad Madhira. 2023
This textbook presents some basic stochastic processes, mainly Markov processes. It begins with a brief introduction to the framework of…
stochastic processes followed by the thorough discussion on Markov chains, which is the simplest and the most important class of stochastic processes. The book then elaborates the theory of Markov chains in detail including classification of states, the first passage distribution, the concept of periodicity and the limiting behaviour of a Markov chain in terms of associated stationary and long run distributions. The book first illustrates the theory for some typical Markov chains, such as random walk, gambler's ruin problem, Ehrenfest model and Bienayme-Galton-Watson branching process; and then extends the discussion when time parameter is continuous. It presents some important examples of a continuous time Markov chain, which include Poisson process, birth process, death process, birth and death processes and their variations. These processes play a fundamental role in the theory and applications in queuing and inventory models, population growth, epidemiology and engineering systems. The book studies in detail the Poisson process, which is the most frequently applied stochastic process in a variety of fields, with its extension to a renewal process. The book also presents important basic concepts on Brownian motion process, a stochastic process of historic importance. It covers its few extensions and variations, such as Brownian bridge, geometric Brownian motion process, which have applications in finance, stock markets, inventory etc. The book is designed primarily to serve as a textbook for a one semester introductory course in stochastic processes, in a post-graduate program, such as Statistics, Mathematics, Data Science and Finance. It can also be used for relevant courses in other disciplines. Additionally, it provides sufficient background material for studying inference in stochastic processes. The book thus fulfils the need of a concise but clear and student-friendly introduction to various types of stochastic processes.