A powerful deconstruction of humanity’s most influential invention, from the acclaimed economists J. W. Mason and Arjun Jayadev.Money is everywhere in our daily lives. It lurks in the swipe of a card at the grocery store, in looming student-loan debts, in the prices of things we want, and in our subconscious navigation of the modern world. Money is an invisible convenience that saves us, as a society, the hassle of bartering for goods and services—a reflection, in ...

One of the most pressing issues in development today is the employment challenge in low- and middle-income countries. As more young people enter the labor force—and as structural transformation unfolds amid deindustrialization, technological disruption, and global competition—the question of how to create sufficient decent jobs has become central to the economic future of the Global South. Although this is a shared challenge across developing regions, it is particularly acute in Africa, wh...

With a new title (following the successful first edition of Nations and Firms in the Global Economy), this second edition undergraduate textbook combines the dual perspectives of international economics and international business, providing a complete overview of the changing role of nations and firms in the global economy. International Economics and Business covers the key concepts typically included in an introductory course on the global economy, supported by contemporary case studies ...

The welfare state has been under attack for decades, but now more than ever there is a need for strong social protection systems—the best tools we have to combat inequality, support social justice, and even improve economic performance. In this book, José Antonio Ocampo and Joseph E. Stiglitz bring together distinguished contributors to examine the global variations of social programs and make the case for a redesigned twenty-first-century welfare state.The Welfare State Revisi...

*What were the causes of the financial and economic crises of 2008-2009?*What intellectual and policy mistakes prevented academics and policymakers from anticipating the crisis?*What is the future of financial regulation both domestic and international?*What role did global macroeconomic imbalances play in the run-up to the crisis?*What is the future of the export-led growth model and what are the implications for developing countries?*To what extent will government remain involved in the eco...

Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed a...

The Oxford Handbook of Structural Transformation addresses the economics of structural transformation around the world. It deals with major themes, which include history and context, critical issues and concepts, methodological foundations, main theoretical approaches, policy issues, some illuminating country experiences of structural transformation, and important debates on the respective roles of the market and the state in that process. The historical record provides a challeng...

Economic growth, inflation, and interest rates have declined in Asia, just as they have in the United States and Europe. Sustaining Economic Growth in Asia explores the relevance to several Asian economies of the diagnosis known as “secular stagnation.” Leading experts on the region discuss the fiscal and monetary policy challenges of reviving growth without generating domestic financial imbalances. The essays on innovation, demographics, spillovers, and various policy proposals a...

Envisioning 2060 is a collection of articles by some of the world's greatest economists and authors. Its carefully planned chapters encompass all major aspects of the evolving global economy-with a particular emphasis on emerging markets and economies-painting a wholesome picture for the contemporary reader, of what our world might grow to look like in the next forty years if we succeed or fail at addressing the myriad challenges confronting us today.

Leading governments undertook extraordinary measures to offset the 2008 economic crisis, shoring up financial institutions, stimulating demand to reverse recession, and rebalancing budgets to alleviate sovereign debt. While productive in and of themselves, these solutions were effective because they were coordinated internationally and were matched with sweeping global financial reforms. Unfortunately, coordination has weakened after these initial steps, indicating one of the crisis's adve...

New Perspectives on Structural Change is a comprehensive edited volume that outlines both the historical roots and state-of-the-art debates on the role of structural change in the process of economic development, including both orthodox and heterodox perspectives and contributions from prominent scholars in this field. The volume consists of four main sections. The first section covers the theoretical foundations of the structural change literature. The second section presents an ...

Strong growth and remarkable social progress over the past two decades have made Brazil one of the world’s leading economies, despite the deep recession that the economy is now emerging from. However, inequality remains high and fiscal accounts have deteriorated substantially, calling for wide-ranging reforms to sustain progress on inclusive growth. A better focus of social expenditures towards the poor would reduce inequality and ensure sustainability of public debt at the same time. This...