Part II of this book focuses on financial markets, markets in which funds are trans-
ferred from people who have an excess of available funds to people who have a short-
age. Financial markets such as bond and stock markets are crucial to promoting
greater economic efficiency by channeling funds from people who do not have a pro-
ductive use for them to those who do. Indeed, well-functioning financial markets are
a key factor in producing high economic growth, and poorly performing financial
markets are one reason that many countries in the world remain desperately poor.
The discipline of economics has developed principles, theories, and
models that isolate the most important determinants of economic events.
In constructing a model, economists make assumptions to eliminate unnecessary
detail to reduce the complexity of economic behavior. Once
modeled, economic behavior may be presented as a relationship between
dependent and independent variables. The behavior being explained is
the dependent variable; the economic events explaining that behavior are
the independent variables.
This is the eighth book of the papers I have collected, on a fairly narrow range of topics in economics - international economy, questions of international finance, financial history and history economic (including some specialized topics such as multinational corporations and the Marshall Plan).
This is the eighth book of my collected papers, each on a fairly narrow range of topics within economics
— international economics, international financial questions, financial history and economic history
(including some specialized topics such as the multinational corporation and the Marshall Plan). The
exercise has strong overtones of narcissism, which makes me uneasy, but may serve a useful purpose
in assembling in convenient locations work that would otherwise remain scattered and in part lost (as
perhaps it should be).
Economics is a social science that studies individu-
als and organizations engaged in the production, dis-
tribution, and consumption of goods and services.
The goal is to predict economic occurrences and to
develop policies that might prevent or correct such
problems as unemployment, inﬂation, or waste in the
The purpose of this guide is to explain in simple terms, the twenty economic
indicators followed by most investors and analysts. The next time you hear these
terms in the media and or financial press, you can use the information in this guide
to evaluate their potential effect on the economy and ultimately your portfolio.
When the Editorial and Programme Director of the Institute
of Economic Affairs asked me to write the foreword to this new
edition of Cento Veljanovski’s The Economics of Law, I accepted his
invitation immediately and with great pleasure. A book I had long
wanted to see back in print, to benefi t both new generations of
students and practising lawyers and economists as yet unfamiliar
with the area, would soon once again be available.
Security has been a human concern since the dawn of time. With the rise of the digital society, information security has rapidly grown to an area of serious study and ongoing research. While much research has focused on the technical aspects of
computer security, far less attention has been given to the management issues of information risk and the economic concerns facing firms and nations.
The Economics LTSN invited me to write a case study discussing the challenges and rewards of teaching economics to MBA (Master of Business Administration) students. Why a case study about MBA teaching? Certainly, it is an important market and has grown rapidly. More to the point, teaching MBA students poses particular challenges, but equally can be exceptionally rewarding
The aim of this book is to bring students of economics and finance who have only an introductory background in mathematics up to a quite advanced level in the subject, thus preparing them for the core mathematical demands of econometrics, economic theory, quantitative finance and mathematical economics, which they are likely to encounter in their final-year courses and beyond. The level of the book will also be useful for those embarking on the first year of their graduate studies in Business, Economics or Finance.
Rapid economic growth is the only sustainable foundation for the elimination of poverty. However, only strategies that include agricultural development can establish strong links between overall growth and reduction in poverty. Most strategies that seek rapid industrialization at the expense of agriculture, even if the intent is to alleviate poverty, actually slow down economic growth and increase levels of poverty. In a country with many impoverished people, policymaker must address both growth and poverty through an.......
In an age of uncertainty, peering 15 years into the future may seem like hubris. But ignoring long-term
trends—demographic, economic, corporate—is an even less attractive option. Understanding the long-term future is vital in ensuring that strategies are sustainable, that opportunities are identified at an early stage and that challenges are addressed beforethey become insurmountable.
This report assesses likely changes to the global economy, to eight major industries and to corporate structures between now and 2020. Our research drew on three main initiatives....
Iam happy to present the second English edition of Money,
Bank Credit, and Economic Cycles. Its appearance is particularly
timely, given that the severe financial crisis and resulting
worldwide economic recession I have been forecasting,
since the first edition of this book came out ten years ago, are
now unleashing their fury.
The ﬁrst edition of this book appeared in 1946. Eight translations were made of it, and there were numerous paperback editions. In a paperback of 1961, a new chapter was added on rent control, which had not been speciﬁcally considered in the ﬁrst edition apart from government price-ﬁxing in general. A few statistics and illustrative references were brought up to date. Otherwise no changes were made until now. The chief reason was that they were not thought necessary.
“There never lived at the same time,” wrote Ludwig von Mises, “more than
a score of men whose work contributed anything essential to economics.”1
One of those men was Carl Menger (1840–1921), professor of political
economy at the University of Vienna and founder of the Austrian School of
The latest edition of International Economics improves and builds upon the popular
features of previous editions. The graphs, tables and statistics are of course all updated, but
also added are improved sections on topics including:
• new developments in international trade agreements and the latest round of
international trade talks
• international financial crisis
• a new section on current controversies in the international monetary system
The relationship between political democracy and economic growth has been a center of debate in the past fifty years. A corpus of cross-country research has shown that the theoretical divide on the impact of democratic versus authoritarian regimes on growth is matched by ambiguous empirical results, resulting in a consensus of an inconclusive relationship. Through this paper we challenge this consensus.