The nine essays in this posthumous volume are linked by a recurring theme - an affirmation of the integrity and viability of the small society and culture in the economic blocs and political federatio
This paperback edition consists of the first three parts of Allen and Kenen's major book, Asset Markets, Exchange Rates, and Economic Integration. These three parts stand alone, as the authors intended and as reviewers have commented. In parts four and five of that volume they extend their model to two countries trading with the outside world and analyze questions of economic integration. The authors synthesize and extend recent developments in international monetary theory using a general model of an open economy that trades goods and assets with the outside world. The model embodies the asset market or portfolio approach to analyzing balance-of-payments adjustment. Exchange rates are determined in the short run by conditions in the asset markets and in the long run by conditions in the goods markets. The goods markets include an export good, and import good, and a nontradeable good. Allen and Kenen show that different assumptions about the substitutability between goods or between as
This book offers a theoretical and unified explanation of how prices are determined in practice. Pricing, as observed in real life, turns out to be almost discriminatory. Four broad areas are covered: the spatial pricing of bulky products (Part I); the intertemporal pricing of storable goods, exhaustible resources, new durables, and nonstorable goods and services (Part II); two-part tariffs, commodity bundling, tie-ins, and nonlinear prices in general (Part III); and pricing of goods of different quality (Part IV). Each essay contains an introductory chapter describing the business practices that are to be rationalized and evaluated. This is the first unified treatment of a recent and growing body of literature in the 'new industrial organization' field. It fills the gap between textbook microeconomics and real-life antitrust cases. The treatment is as nontechnical and down to earth as possible to permit a wide audience for this comprehensive discussion of industrial pricing.
What can reason (or more broadly, thinking) do for us and what can't it do? This is the question examined by Herbert A. Simon, who received the 1978 Nobel Prize in Economic Sciences "for his pioneerin
The Nobel Prize winner writes here on current issues of prevailing concern to every American citizen and taxpayer, displaying the powers of analysis and expression that have made him one of the most w
This volume is intended to provide a survey of thought about exchange-rate determination as it emerged in the decade of the 1970s. This survey differs from many, however, in that the field itself is in a state of rapid change. Understanding the changes and the reasons for them is therefore essential if the reader is to have a basis for understanding future advances in knowledge and the further evolution of the system. The survey is also intended to reach non-specialist professional economists whose balance-of-payments theory was learned before the 1970s, as well as to provide graduate students and advanced undergraduates with an up-to-date account of the field. In most respects, the theory of exchange-rate determination is based upon an analytical structure equivalent to that analyzing the determinants of the balance of payments under fixed exchange rates. The difference is that the shifts in excess demand for foreign exchange lead to quantity adjustments under fixed rates and price ad
In 1973, the world moved from fixed exchange rates, pegged to the gold standard or an agreed-upon currency, to the floating system of flexible exchange rates, constrained only by the occasional interv
In the past decade, a number of Third World countries have emerged from their economic status as sources of raw materials or as sweatshops in which low-wage, low-skilled workers produced goods for the
This book provides a clear and concise summary of the present state of the theory of inflation accounting for students and practitioners. It describes all of the main alternative methods of inflation accounting and illustrates them, using simple numerical examples. The theoretical and practical aspects of each method are discussed, in order to give the reader the framework within which he can evaluate the relative merits of the various practical solutions to the inflation accounting problem which are now being implemented in the UK, USA and elsewhere throughout the English-speaking world. The emphasis throughout is on a comparison of the relative merits of alternative systems, rather than aiming to give a single 'best' solution. Indeed the latter aim is seen as most probably illusory, because different types of accounting information may be needed for different purposes.
First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of
Even a decade after the end of the 1914–1918 war, economic theory assumed that the world was tranquil and orderly. By 1939 an economic slump without parallel, allied to the re-emergence of military ambition in Europe, had brought economic theorists face to face with reality. In this classic book, first published in 1967, Professor Shackle provides a study, in exact and professional language, of the precise nature, structure, presuppositions, language and inter-relations of the theories which were formulated in these fourteen years - unparalleled in the whole history of economics except perhaps by the years of the Physiocrats and Adam Smith. These theories are not prototypes on the way to something better but are of essential and permanent importance.
Discusses the new emphasis on leadership in the modern world, emphasizing the necessity for inspiration, motivation, concern for other people, trust, autonomy, cooperation, productivity, and integrity
Tens of thousands of professionals have attended David W. Merrill's acclaimed "Style Awareness Workshops" The goal: improvement of interpersonal effectiveness skills-inspiring better communication, im
"[T]he only really sure way to beat inflation is to cut off inflation at the root. . . Milton Friedman [presents his strategy against] inflation in his penetrating . . . book . . . This is controversi
Economists have long treated technological phenomena as events transpiring inside a black box and, on the whole, have adhered rather strictly to a self-imposed ordinance not to inquire too seriously into what transpires inside that box. The purpose of Professor Rosenberg's work is to break open and examine the contents of the black box. In so doing, a number of important economic problems be powerfully illuminated. The author clearly shows how specific features of individual technologies have shaped a number of variables of great concern to economists: the rate of productivity improvement, the nature of learning processes underlying technological change itself, the speed of technology transfer, and the effectiveness of government policies that are intended to influence technologies in particular ways. The separate chapters of this book reflect a primary concern with some of the distinctive aspects of industrial technologies in the twentieth century, such as the increasing reliance upon
The patterns and course of contact between traders from Europe and the Indian populations are described and both English and French sources are used to reveal the competition between the two groups of
