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Forced to embrace a post-carbon future, or risk serious damage to the planet, we have begun a race for alternatives to the scarce resources that previous generations relied on. In this book, Jonathan Moses and Anne Brigham consider how best we might negotiate the world's scarce pool of natural resources, and avoid the pitfalls of the past.
In order to shift the world's consumption from one set of scarce natural resources to another, they show the need for management regimes that are both politically, as well as environmentally, sustainable. They propose an alternative way to think about resource management for the future, one based on the collective ownership of (stewardship over) nature, and one where the rents resulting from this ownership, like the resources that produce them, belong to the people. Using case studies from particular markets, they demonstrate how such a management model might work to protect our common heritage and allow communities to secure the benefits we can and should expect from scarce resources - our natural dividend.
The nature of conservative ideology is and will continue to be warmly contested. In this short history, Mark Garnett contends that the disagreements have been particularly strong in the instance of British conservatism because the ideological label continues to be used by a prominent political party. Whether hostile or friendly in intent, commentators on conservatism have found it difficult to avoid the assumption that British 'conservatism' must, at all times, be reflected at least to some degree in the policy platforms of the Conservative Party.
This book presents an account of British conservatism which avoids the usual confusion between the ideology and the stated principles of a party which prides itself on an ability to change its views according to circumstances. It shows, since the Tory Party adopted the name 'Conservative' in the 1830s it has become increasingly difficult to associate its varying positions with a coherent 'conservative' position, so that it is more profitable to discuss its ideological history from the perspective of liberalism and nationalism. This argument is presented by tracing the histories of the party and the ideology in separate chapters, whose themes and cast of characters rarely coincide.
During four decades of fast-paced economic growth, China's ascent has reverberated across the full social spectrum, from international relations to technology, from trade to global health, from academia to climate change. Despite disrupting the long-established cultural and political constructs of the postwar liberal international order, Beijing's power remains uneven and limited internationally, whereas the rise of China has been the object of much frenzied reaction within Western civil society. The hostility and new cold war with the United States is a major factor in fuelling debate and speculation.
This book explores the uncertainties and dilemmas China's rise has fuelled for both the US-sponsored liberal order and the Chinese communist elites that are responsible. It provides the tools to understand the contemporary political and media turmoil about China, its causes and its trajectories. It interprets the rise of China through the lenses of global politics and the uneven and combined development of capitalism and its encounter with the authoritarian, one-party system of the Chinese polity.
Well-designed industrial policies can improve a nation's economic performance. Using a range of tools, such as subsidies, tax incentives, infrastructure development, protective regulations, and R&D support, governments are able to support specific industries or economic activities.
Steve Coulter examines the patterns of industrial policymaking across late capitalist societies. Drawing on case studies from a range of countries, each with different growth models, national capabilities, policy traditions, and political/welfare state regimes, he is able to offer a nuanced comparative assessment of states' responses to specific economic challenges. The book draws broad conclusions about the trajectories of industrial policy and highlights key technical and political drivers that policymakers consider when addressing whether best practice should centre on general or nationally-specific approaches. The book also focuses on fresh challenges and opportunities for industrial policy and questions the sustainability of current policy practice.
Syed Mansoob Murshed has been at the forefront of research in the rational choice approach to conflict. His pioneering work over many years has demonstrated that armed conflict is inseparable from inequality and economic development.
This book brings together Murshed's key economic writings on conflict and includes work on conflict causation, sustaining peace agreements, the relationship of conflict and economic progress, the trade-conflict nexus, the effects of conflict on financial deepening and fiscal capacity, as well as case studies of everyday violence and transnational terrorism. The essays cover both theoretical ideas, critical literature reviews, mathematical modelling, and cross-national and subnational econometric empirical analysis.
The enduring nature of war and conflict and uneven economic outcomes make Murshed's work of lasting significance.
Although there is no overt ideological battle in the twenty-first century, citizens in every latitude register growing dissatisfaction with the results delivered by their governments. In the West they increasingly turn to populist forces to seek an easy respite to the frustration caused by the failures of democracy. Other models of governance, such as China's 'autocratic capitalism', rest on technocratic command and control methods that are disdained in the West but whose global appeal is growing mostly due to their perceived ability to deliver. No matter how and where they are practised, these alternatives seem to offer only partial and unsatisfactory answers to increasingly complex questions of governance. In a world ravaged by pandemics and climate crises, migration flows and cyberwars, rigid rule-making imparted from above or populist over-simplifications brewing from below can only represent the extremes of a more sophisticated picture of governing processes.
In this book, Fabrizio Tassinari seeks to rediscover the methods, practices and limits of good governance. By taking inspiration from the Nordic region, where democratic governance has delivered some of its most impressive feats, he shows that populism and technocracy are not the causes of our political malaise; they represent skewed by-products of the most basic instincts in our body politic. They need not be suppressed but channelled and reconciled in our practices of governing.
The airline industry is fundamental to the workings of the global economy. Yet, ironically for an industry of such sheer scale and economic muscle, profit margins are razor thin and many airlines struggle to break even. The precarious economics of the sector were fully revealed when Covid-19 grounded flights across the world prompting many national carriers to seek government bailouts, while smaller airlines collapsed.
In this updated and expanded new edition Volodymyr Bilotkach explains the economic realities of the airline industry and the challenges that the sector now faces after the seismic impact of the Covid-19 pandemic. The impact of such a large-scale external shock on the industry is considered across each of its sectors and for each of its primary economic determinants. The book also includes new material on changes to cost structures, the pricing of add-on services, cargo, airport slot allocation and the impact of climate change.
The book remains a comprehensive introduction to the economics of airlines, how carriers compete, how they develop their business, and how demand and cost structure, coupled with the complex regulatory regime, produces the industry we see today.
The question of free will has preoccupied philosophers for millennia. In recent years the debate has been reinvigorated by the findings of neuroscience and, for some, the notion that we have free will has finally been laid to rest. Not so, says Raymond Tallis. In his quest to reconcile our practical belief in our own agency with our theoretical doubts, Tallis advances powerful arguments for the reality of freedom.
Tallis challenges the idea that we are imprisoned by laws of nature that wire us into a causally closed world. He shows that our capacity to discover and exploit these laws is central to understanding the nature of voluntary action and to reconciling free will with our status as material beings.
Bringing his familiar verve and insight to this deep and most intriguing philosophical question, one that impacts most directly on our lives and touches on nearly every other philosophical problem - of consciousness, of time, of the nature of the natural world, and of our unique place in the cosmos - Tallis takes us to the heart of what we are. By understanding our freedom he reveals our extraordinary nature more clearly.
Austerity has dominated economic debate since the financial crisis of 2008. Governments have implemented austerity policies by reducing their spending on goods and services, increasing taxation and cutting welfare budgets. John Fender explains how austerity (or 'fiscal consolidation') works in theory and how it has played out in practice especially in the UK and the eurozone. He provides a clear and rigorous guide to the principles and mechanisms of austerity economics and offers a balanced account of the economic thinking behind contentious policy decisions.
Boris Johnson has said that the UK government 'has absolutely no intention of returning to the 'A-word'', but with the Covid-19 crisis likely to result in much more government debt, it will be difficult to avoid more austerity. Understanding the impact of austerity policies is more important than ever and this book offers a first step on that path. For anyone seeking answers to such questions as: 'What can we learn from the UK's economic history that is relevant to current policy?', 'Is austerity ever necessary or desirable?' and 'Can the harmful effects of austerity programmes be mitigated?' then this book will be welcome reading.
The term 'market' originally portrayed a public space for economic transactions but the term has since evolved into an abstract and disputed idea. Despite modern markets seemingly omnipresent nature, their specific geographies have undergone relatively little analysis.
This collection of new essays rediscovers the physical space that markets inhabit and explore how the impact of political, social and economic factors determine the shape of a particular market space. The essays present new research from the fields of geography, economics, political economy and planning and provide valuable case study material to show how markets are contested, constructed and placed. Rather than separate markets from the surrounding society and state, these essays connect markets to their wider context and showcase how economic geography can combine with other disciplines to throw new light on spaces of exchange.
Over the past decade the European Union has faced threats to its currency, borders and unity. Covid-19, which began its inexorable spread across Europe in February 2020, is the latest crisis to test the Union's resilience.
Luuk van Middelaar's compelling analysis of the EU's response to the pandemic details how events and decisions unfolded, how crisis solutions were improvised in a situation of deep uncertainty, and the lessons it must learn if it is to continue to protect its citizens.
As member states shut their borders and scrambled for supplies, the European Union at first appeared irrelevant. But once shaken from its torpor by a public cry for help, the EU has coordinated a formidable response to the chaos, including an unprecedented level of financial assistance. This reaction, argues van Middelaar, demonstrates the Union's enduring strength and how it has learnt to deal with real world events. Indeed, the EU's response to the pandemic reveals how far it has come on its journey from regulatory body to geopolitical actor. The pandemic highlighted that Europe's next challenge will most likely come from its uneasy position between a strategically assertive China and a more self-centred United States. Facing this will require a greater political will than that mustered in the health emergency. To become a true power among powers, Van Middelaar contends, Europe must give firmer political shape to its own historical and cultural identity.
In 1969 a small group of US scholars began discussing the possibility of starting a consortium of Western European Studies programmes. Europe was increasingly becoming an object of study and it was felt that greater coordination of the intellectual effort would help avoid duplication and further the acceleration of research. So began the Council for European Studies.
In commemoration of the founding of the Council fifty years ago, this volume brings together some of the most influential Europeanists writing today to take stock of the subject and to consider the most fruitful avenues for future research. With European democracy seemingly under threat from populism on the left and the right, the economies of countries still struggling to emerge from a decade of recession and stagnating growth, environmental concerns paramount and the quest for social cohesion a distant goal, the contributors to this volume bring their insight to bear on the fertile ground that the EU and the continent more broadly offer researchers.
The contributors - drawn from 52 institutions across the globe - present a wide range of perspectives on Europe's past and present, and the key challenges facing its future, such as immigration, multiculturalism, nationalism and integration. Although it remains to be seen whether Europeans will continue to promote the dream of union or whether they will retreat back into their nation states, these essays offer valuable insights into how Europe might respond and the changing nature of what it means to be a European.
Pushed by the Covid-19 crisis, the UK government has borrowed massively to save jobs, businesses and the economy from collapse, making a mockery of the austerity policies that it had championed for a decade. As a result, the role of the state is now in sharp focus. The contributors to this volume assess what that role should be and how it should be harnessed for the good of the British people in all four of its nations. Together they present policy proposals capable of generating a new social settlement and a long-term, equitable economic recovery post-pandemic. It offers both a vision of a future Britain and a roadmap to getting there.
The music industry is one of the most dynamic and fascinating business sectors. Its business model has had to evolve and adapt to continually changing technologies that impact at every level from distribution to artist management. Its latest challenge has been the closure of live music venues during the Covid-19 pandemic.
The second edition of this much used introduction to the economic workings of the music business has been updated to include analysis of the impact of the pandemic as well as new trends in the industry, such as the increasing dominance of tech companies and big data and the growing importance of collective management organizations as market players, which has impacted on new business contracts. At a time when live performance outstrips music sales as the primary source of income for today's musicians, this new edition also examines how different stakeholder positions have shifted.
The book remains a rigorous presentation of the industry's business model, the core sectors of publishing, recording and live music, and the complex myriad of licensing and copyright arrangements that underpin the industry. The revenue streams of recording companies are analysed alongside the income stream of artists to show how changing formats and distribution platforms impact both industry profit margins and artists' earnings.
This introduction to one of the key areas of behavioural economics Social Preferences explains in clear, nontechnical language how particular groups of experiments have been used by behavioural economists to shed light on the processes of economic decision making. These include bargaining games, trust games and public good games. The significance of determinants such as punishment, sanctioning, emotion, cooperation, reciprocity, leadership, framing and cross-cultural differences are demonstrated and explained, and students are provided with the understanding and resources needed to replicate the experiments themselves.
Banks have been at the heart of economic activity for centuries, but since the 2008 financial crisis scrutiny of their activities and regulation of their actions has become the focus of fervent academic, policy and political activity. This focus takes for granted the existence and nature of banks.
In Regulating Banks, Andrew Whitworth looks one stage deeper to question what a bank really is, and what the implications of that are. He argues that the institutional form of a bank represents the political compromise of a specific time and place - and can therefore change. This has implications for financial stability. Far from creating stability, he argues, the regulatory impulse of policy-makers inevitably leads to greater financial instability.
Whitworth examines the postwar period of UK banking to show how regulation influences the nature of banks as much as their behaviour. Regulation, by changing the nature of what is regulated, encourages banks and other actors over time to alter their behaviour, which leads to future boom and bust cycles. These cycles then require further regulation to rein in the disruption their new pattern of behaviour inevitably instigates.
Regulating Banks reveals the cyclical nature of banking regulation, the inherent mismatch between political impulses and market reactions, and the price banks, banking and society pay for such instability.
The advent of new digital currencies has challenged our notions about money, its function and purpose, and our faith in the financial and banking structures that underpin its legitimacy. Oonagh McDonald charts the spectacular rise of cryptocurrencies over the past decade and considers the opportunities and threats that cryptocurrencies pose to existing fiat currencies. This revised edition includes a new chapter dealing with the high-profile bankruptcies of the recent 'crypto winter'.
The book considers how regulatory bodies have been slow to respond to a technology that is evading existing regulatory frameworks. Urgent and more robust protection is needed from fraudulent initial coin offerings, scams and hacks. Throughout her analysis, McDonald shows that trust is fundamental to the operation of finance and that this will ultimately protect commercial bank money from the threat of new digital currencies. The book offers readers an insightful appraisal of the future of money and the challenges facing regulatory bodies.
Running down 'do-gooders' has become a popular pastime in recent years. Journalists and academics alike have lampooned and criticized philanthropists and big donors for their charitable activities, which are often characterized as a means of self-aggrandisement or tax evasion.
Yet, it is widely acknowledged that philanthropy - from the establishment of Carnegie libraries in the nineteenth century to the recent global health interventions of the Gates Foundation - has played a critical role in both developed and developing societies.
In an impassioned defence of the role of philanthropy in society, Beth Breeze tackles the main critiques levelled at philanthropy and questions the rationale for undermining and disparaging philanthropic acts. She contends that although it might be flawed, philanthropy is a sector that ought to be celebrated and championed so that an abundance of causes and interests can flourish.
Elinor Ostrom was the first woman to win the Nobel Prize in economics and her achievement has generated renewed interest in the Bloomington School research program in institutional economics and political economy.
These new essays showcase Ostrom's extensive and lasting influence throughout economics and the wider social sciences. They contextualize the Bloomington School within schools of economic thought and show how Ostrom's distinct methodology is used in policy-making and governance. Case studies are used to illustrate the value of civic involvement within public policy, a method pioneered by Ostrom and the Bloomington School.
The book provides a valuable resource for those keen to understand Ostrom's approach, especially when applied to policy-making and wider application in the social sciences. Readers new to the Bloomington School will be introduced to its central areas of research while those already familiar will appreciate its subtle connections to other disciplines and research agendas.
The benefits of globalization have long been trumpeted by right-wing and centre-left politicians and is enshrined in the neoliberal consensus of western democracies. However, in recent years, conservative rhetoric has turned increasingly anti-globalization. Ray Kiely examines this new trend, in particular the discourse of 'winners' and 'losers' of globalization that has emerged since the financial crisis, and which has been used by conservative politicians in the United States and the UK to reflect real and imagined threats to domestic economies and national identity.
The book examines new US and UK conservative movements (alongside earlier traditions) and the development of conservative ideas, in particular projects for renewal, that have shaped responses to globalization that challenge neoliberal and third way approaches. The nostalgia for a former supposed age of economic and societal harmony, which has characterized this conservative anti-globalization response is given particular attention. The popular mantras of deregulation and economic nationalism that loomed large in both the election of Donald Trump and the UK's Brexit vote are shown to be potent examples of the success of this new conservative (anti-)globalization rhetoric.
As well as examining the changing nature of Anglo-American conservatism, the book also offers an insightful account of the wider resurgence of populism.