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Author: Anwar Shaikh
Publisher: Oxford University Press
ISBN: 0199390657
Category : Business & Economics
Languages : en
Pages : 1019
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Book Description
Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.
Author: Anwar Shaikh
Publisher: Oxford University Press
ISBN: 0199390657
Category : Business & Economics
Languages : en
Pages : 1019
Get Book Here
Book Description
Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains as their point of departure and base of comparison. There is no imperfection without perfection. In Capitalism, Anwar Shaikh takes a different approach. He demonstrates that most of the central propositions of economic analysis can be derived without any reference to standard devices such as hyperrationality, optimization, perfect competition, perfect information, representative agents, or so-called rational expectations. This perspective allows him to look afresh at virtually all the elements of economic analysis: the laws of demand and supply, the determination of wage and profit rates, technological change, relative prices, interest rates, bond and equity prices, exchange rates, terms and balance of trade, growth, unemployment, inflation, and long booms culminating in recurrent general crises. In every case, Shaikh's innovative theory is applied to modern empirical patterns and contrasted with neoclassical, Keynesian, and Post-Keynesian approaches to the same issues. Shaikh's object of analysis is the economics of capitalism, and he explores the subject in this expansive light. This is how the classical economists, as well as Keynes and Kalecki, approached the issue. Anyone interested in capitalism and economics in general can gain a wealth of knowledge from this ground-breaking text.
Author: Eoin McGuirk
Publisher:
ISBN:
Category :
Languages : en
Pages : 83
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Book Description
Do economic shocks cause civil conflict? Evidence at the country level is ambiguous. We study the impact of plausibly exogenous shocks to world food prices on civil conflict in Africa using panel data at the level of a 0.5 degree grid cell. We find that higher prices lead to fewer civil conflict battles in cells that produce food, and more civil conflict battles in cells that consume food. We interpret this as evidence that negative income shocks cause civil conflict, as rising prices increase income for producers and decrease income for consumers in real terms. The result is consistent with a model that allows for a distinction between two varieties of conflict. In food-producing cells, higher prices reduce civil conflict battles over the control of territory (what we call "factor conflict") and increase smaller-scale conflict over the appropriation of surplus ("output conflict"). This difference arises because higher prices raise the opportunity cost of soldiering for producers, while also inducing net consumers to appropriate increasingly valuable surplus as their real wages fall. In food-consuming cells, higher prices increase both forms of conflict, as poor consumers turn to soldiering and appropriation in order to maintain a minimum consumption target. We corroborate the model's predictions on output conflict using both cell-level data on violence and looting and geocoded survey data on theft and physical assault. Ignoring distinctions between consumer and producer effects leads to attenuated estimates. Projected price changes from 2010-2050 are expected to substantially increase both forms of conflict.
Author: Elena G. Popkova
Publisher: Emerald Group Publishing
ISBN: 1787699951
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This book analyses the role of crisis or "conflicts" within socio-economic systems and advocates the concept of a "conflict-free" system as the landmark of global economic development.
Author: Patcharaporn Leepipatpiboon
Publisher: International Monetary Fund
ISBN:
Category :
Languages : en
Pages : 42
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Book Description
Macroeconomic Shocks and Conflict
Author: Nathan Fiala
Publisher:
ISBN: 9781109233681
Category :
Languages : en
Pages : 126
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Book Description
The effect of defense spending and the environment on economic growth remains an open question in the development literature. In order to better understand the impact of these on development, this dissertation looks first at the effect of defense spending on an economy, and then at the effects of an environmental change on an economy. First, using a Vector Error Correction model and accounting for the double-counting of past investment in durable military goods, how disaggregated elements of defense spending affect economic growth in the U.S. from 1976 to 2007 is explored. In the short-run, only defense consumption is statistically significant and positively affects the economy with a slightly larger effect than federal government expenditures. In the long-run, defense equipment and software retards growth, while defense consumption and investment in structures promotes it. Then, how security spending can depend on institutions, such as property rights and social norms is explored using a model of negotiated peace. New gross domestic production values and growth rates without security activities are constructed for 134 countries for the years 1991 to 2005 to identify the effect of including these activities in GDP and the potential production loss from security spending beyond a "minimum level" is calculated. In order to explore environmental effects, the lagged first and second order effects of rainfall shocks for a balanced data set of 110 countries from 1982 to 1999 are explored, along with differential effects by region and GDP components. Finally, the effect of property rights institutions for improving the ability of farmers to prepare for shocks is explored.
Author: Deepankar Basu
Publisher: Taylor & Francis
ISBN: 1000246000
Category : Business & Economics
Languages : en
Pages : 359
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Book Description
This book presents a comprehensive overview of three key areas: heterodox macroeconomics, development economics and classical political economy. It offers an alternative macroeconomic framework to analyse policies with an emphasis on issues of equity and justice. With contributions by leading economists from across the world, it examines the growth and distribution of income; trade and finance in developing countries; classical political economy and Marxist theory; dualism in the US economy; economic crisis; and agrarian economy in poor countries. It explores themes such as the effect of an exogenous shock to wage share; Harrodian instability and Steindlian solutions; economics and politics of social democracy; the role of power in the macroeconomy; economic development through the promotion of domestic value chains; and reflections on primitive accumulation. Going beyond the neo-classical tradition, the volume opens up a new vista of economics by discussing unexplored questions. It provides a refreshing treatment of time-tested ideas as well as discussions of recent developments and current research. A major intervention in heterodox macroeconomics and a tribute to macroeconomist Amit Bhaduri, this book will be useful to scholars and researchers of economics, political economy, development studies, sociology, political science, public administration, economic theory, economic history, economic geography and critical studies, as well as professionals, economists and policymakers.
Author: Antonio Ciccone
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Louis Kriesberg
Publisher: Rowman & Littlefield
ISBN: 9780742544239
Category : Family & Relationships
Languages : en
Pages : 452
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Book Description
A fourth edition of this textbook is now available. This popular, highly regarded, and comprehensive book synthesizes pertinent theories and evidence about diverse conflicts. Kriesberg examines the strategies that partisans and intermediaries can use to minimize the destructiveness of these conflicts. Not only does he examine large-scale forces that affect the various stages of conflict, but also the elements that contribute to constructive transformations at each stage. The diverse conflicts discussed are; the American civil rights struggle, the struggle for women's rights, apartheid in South Africa, labor-management relations, Palestinian-Israeli relations, protecting the environment, the Cold War, and countering terrorism, as well as conflicts in Northern Ireland, Chiapas, Mexico, and Sri Lanka. In addition to updating the conflicts examined in earlier editions, this new edition examines current issues, pertaining to ethical concerns, ideological and religious developments, and the changing global role of the United States.
Author: Ben Goldsmith
Publisher: Emerald Group Publishing
ISBN: 0857240056
Category : Political Science
Languages : en
Pages : 314
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Book Description
Presents the research on economic factors affecting peace and war. This title includes theoretical perspectives on the economic foundations of peace, violence and war within countries, connections between international trade and inter-state conflict, and the role of legal/institutional factors in international and internal conflict.
Author: Mr.Bjoern Rother
Publisher: International Monetary Fund
ISBN: 1475535783
Category : Social Science
Languages : en
Pages : 43
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Book Description
In recent decades, the Middle East and North Africa region (MENA) has experienced more frequent and severe conflicts than in any other region of the world, exacting a devastating human toll. The region now faces unprecedented challenges, including the emergence of violent non-state actors, significant destruction, and a refugee crisis bigger than any since World War II. This paper raises awareness of the economic costs of conflicts on the countries directly involved and on their neighbors. It argues that appropriate macroeconomic policies can help mitigate the impact of conflicts in the short term, and that fostering higher and more inclusive growth can help address some of the root causes of conflicts over the long term. The paper also highlights the crucial role of external partners, including the IMF, in helping MENA countries tackle these challenges.
