Manufacturing Morals

The Values of Silence in Business School Education

Author: Michel Anteby

Publisher: University of Chicago Press

ISBN: 022609250X

Category: Business & Economics

Page: 272

View: 6613

Corporate accountability is never far from the front page, and as one of the world’s most elite business schools, Harvard Business School trains many of the future leaders of Fortune 500 companies. But how does HBS formally and informally ensure faculty and students embrace proper business standards? Relying on his first-hand experience as a Harvard Business School faculty member, Michel Anteby takes readers inside HBS in order to draw vivid parallels between the socialization of faculty and of students. In an era when many organizations are focused on principles of responsibility, Harvard Business School has long tried to promote better business standards. Anteby’s rich account reveals the surprising role of silence and ambiguity in HBS’s process of codifying morals and business values. As Anteby describes, at HBS specifics are often left unspoken; for example, teaching notes given to faculty provide much guidance on how to teach but are largely silent on what to teach. Manufacturing Morals demonstrates how faculty and students are exposed to a system that operates on open-ended directives that require significant decision-making on the part of those involved, with little overt guidance from the hierarchy. Anteby suggests that this model—which tolerates moral complexity—is perhaps one of the few that can adapt and endure over time. Manufacturing Morals is a perceptive must-read for anyone looking for insight into the moral decision-making of today’s business leaders and those influenced by and working for them.
Release

The End of Alchemy: Money, Banking, and the Future of the Global Economy

Author: Mervyn King

Publisher: W. W. Norton & Company

ISBN: 0393247031

Category: Business & Economics

Page: 368

View: 9141

“Mervyn King may well have written the most important book to come out of the financial crisis. Agree or disagree, King’s visionary ideas deserve the attention of everyone from economics students to heads of state.” —Lawrence H. Summers Something is wrong with our banking system. We all sense that, but Mervyn King knows it firsthand; his ten years at the helm of the Bank of England, including at the height of the financial crisis, revealed profound truths about the mechanisms of our capitalist society. In The End of Alchemy he offers us an essential work about the history and future of money and banking, the keys to modern finance. The Industrial Revolution built the foundation of our modern capitalist age. Yet the flowering of technological innovations during that dynamic period relied on the widespread adoption of two much older ideas: the creation of paper money and the invention of banks that issued credit. We take these systems for granted today, yet at their core both ideas were revolutionary and almost magical. Common paper became as precious as gold, and risky long-term loans were transformed into safe short-term bank deposits. As King argues, this is financial alchemy—the creation of extraordinary financial powers that defy reality and common sense. Faith in these powers has led to huge benefits; the liquidity they create has fueled economic growth for two centuries now. However, they have also produced an unending string of economic disasters, from hyperinflations to banking collapses to the recent global recession and current stagnation. How do we reconcile the potent strengths of these ideas with their inherent weaknesses? King draws on his unique experience to present fresh interpretations of these economic forces and to point the way forward for the global economy. His bold solutions cut through current overstuffed and needlessly complex legislation to provide a clear path to durable prosperity and the end of overreliance on the alchemy of our financial ancestors.
Release

The Political Economy of Tax Reform

Author: Takatoshi Ito,Anne O. Krueger

Publisher: University of Chicago Press

ISBN: 9780226387000

Category: Business & Economics

Page: 358

View: 4762

The rapid emergence of East Asia as an important geopolitical-economic entity has been one of the most visible and striking changes in the international economy in recent years. With that emergence has come an increased need for understanding the problems of interdependence. As a step toward meeting this need, the National Bureau of Economic Research joined with the Korea Development Institute to sponsor this volume, which focuses on the complexities of tax reform in a global economy. Experts from Taiwan, Korea, the Philippines, Japan, and Thailand, as well as the United States, Canada, and Israel examine the major tax programs of the 1980s and their domestic and international economic effects. The analyses reveal similarities between the United States and countries in East Asia in political constraints on policy making, and taken together they show how growing interdependence interacts with domestic economic and political concerns to affect issues as politically vital as tax reform. Economists, policymakers, and members of the business community will benefit from these studies.
Release

Economics Rules

Why Economics Works, When It Fails, and How to Tell the Difference

Author: Dani Rodrik

Publisher: Oxford University Press, USA

ISBN: 0198736894

Category: Economic policy

Page: 176

View: 7921

The economics profession has become a favourite punching bag in the aftermath of the global financial crisis. Economists are widely reviled and their influence derided by the general public. Yet their services have never been in greater demand. To unravel the paradox, we need to understand both the strengths and weaknesses of economics. This book offers both a defence and critique of economics. Economists' way of thinking about social phenomena has greatadvantages. But the flexible, contextual nature of economics is also its Achilles' heel in the hands of clumsy practitioners.
Release

Why Gender Matters in Economics

Author: Mukesh Eswaran

Publisher: Princeton University Press

ISBN: 1400852374

Category: Business & Economics

Page: 408

View: 5525

Gender matters in economics—for even with today's technology, fertility choices, market opportunities, and improved social norms, economic outcomes for women remain markedly worse than for men. Drawing on insights from feminism, postmodernism, psychology, evolutionary biology, Marxism, and politics, this textbook provides a rigorous economic look at issues confronting women throughout the world—including nonmarket scenarios, such as marriage, family, fertility choice, and bargaining within households, as well as market areas, like those pertaining to labor and credit markets and globalization. Mukesh Eswaran examines how women’s behavioral responses in economic situations and their bargaining power within the household differ from those of men. Eswaran then delves into the far-reaching consequences of these differences in both market and nonmarket domains. The author considers how women may be discriminated against in labor and credit markets, how their family and market circumstances interact, and how globalization has influenced their lives. Eswaran also investigates how women have been empowered through access to education, credit, healthcare, and birth control; changes in ownership laws; the acquisition of suffrage; and political representation. Throughout, Eswaran applies sound economic analysis and new modeling approaches, and each chapter concludes with exercises and discussion questions. This textbook gives readers the necessary tools for thinking about gender from an economic perspective. Addresses economic issues for women throughout the world, in both developed and developing countries Looks at both market and nonmarket domains Requires only a background in basic economic principles Includes the most recent research on the economics of gender in a range of areas Concludes each chapter with exercises and discussion questions
Release

Insurance and Behavioral Economics

Improving Decisions in the Most Misunderstood Industry

Author: Howard C. Kunreuther,Mark V. Pauly,Stacey McMorrow

Publisher: Cambridge University Press

ISBN: 0521845726

Category: Business & Economics

Page: 338

View: 8360

This book examines the behavior of individuals at risk and insurance industry policy makers involved in selling, buying and regulation.
Release

The Color Factor

The Economics of African-American Well-Being in the Nineteenth-Century South

Author: Howard Bodenhorn

Publisher: Oxford University Press, USA

ISBN: 019938309X

Category: African Americans

Page: 320

View: 9463

This is the first full-length study of how colour intersected with polity, society and economy in the nineteenth century South. Although legal historians have explored how early Americans legally defined and contested race, that literature has overlooked or downplayed the middle ground occupied by a sizeable mixed-race population of antebellum free people. These were the 'talented tenth' long before W.E.B. Dubois coined the term.
Release

Illiberal Reformers

Race, Eugenics, and American Economics in the Progressive Era

Author: Thomas C. Leonard

Publisher: Princeton University Press

ISBN: 1400874076

Category: Business & Economics

Page: 264

View: 6106

In Illiberal Reformers, Thomas Leonard reexamines the economic progressives whose ideas and reform agenda underwrote the Progressive Era dismantling of laissez-faire and the creation of the regulatory welfare state, which, they believed, would humanize and rationalize industrial capitalism. But not for all. Academic social scientists such as Richard T. Ely, John R. Commons, and Edward A. Ross, together with their reform allies in social work, charity, journalism, and law, played a pivotal role in establishing minimum-wage and maximum-hours laws, workmen's compensation, antitrust regulation, and other hallmarks of the regulatory welfare state. But even as they offered uplift to some, economic progressives advocated exclusion for others, and did both in the name of progress. Leonard meticulously reconstructs the influence of Darwinism, racial science, and eugenics on scholars and activists of the late nineteenth and early twentieth centuries, revealing a reform community deeply ambivalent about America's poor. Illiberal Reformers shows that the intellectual champions of the regulatory welfare state proposed using it not to help those they portrayed as hereditary inferiors but to exclude them.
Release

British Economic Growth, 1270–1870

Author: Stephen Broadberry,Bruce Campbell,Alexander Klein,Mark Overton,Bas van Leeuwen

Publisher: Cambridge University Press

ISBN: 1107070783

Category: Business & Economics

Page: 461

View: 9407

This is the first systematic quantitative account of British economic growth from the thirteenth century to the Industrial Revolution.
Release

Institutions and the Path to the Modern Economy

Lessons from Medieval Trade

Author: Avner Greif

Publisher: Cambridge University Press

ISBN: 9780521480444

Category: Business & Economics

Page: 503

View: 3059

This 2006 book presents a unifying concept of the term institution.
Release

GDP

A Brief but Affectionate History

Author: Diane Coyle

Publisher: Princeton University Press

ISBN: 1400873630

Category: Business & Economics

Page: 184

View: 8051

Why did the size of the U.S. economy increase by 3 percent on one day in mid-2013—or Ghana's balloon by 60 percent overnight in 2010? Why did the U.K. financial industry show its fastest expansion ever at the end of 2008—just as the world’s financial system went into meltdown? And why was Greece’s chief statistician charged with treason in 2013 for apparently doing nothing more than trying to accurately report the size of his country’s economy? The answers to all these questions lie in the way we define and measure national economies around the world: Gross Domestic Product. This entertaining and informative book tells the story of GDP, making sense of a statistic that appears constantly in the news, business, and politics, and that seems to rule our lives—but that hardly anyone actually understands. Diane Coyle traces the history of this artificial, abstract, complex, but exceedingly important statistic from its eighteenth- and nineteenth-century precursors through its invention in the 1940s and its postwar golden age, and then through the Great Crash up to today. The reader learns why this standard measure of the size of a country’s economy was invented, how it has changed over the decades, and what its strengths and weaknesses are. The book explains why even small changes in GDP can decide elections, influence major political decisions, and determine whether countries can keep borrowing or be thrown into recession. The book ends by making the case that GDP was a good measure for the twentieth century but is increasingly inappropriate for a twenty-first-century economy driven by innovation, services, and intangible goods.
Release

The Health Gap

The Challenge of an Unequal World

Author: Michael Marmot

Publisher: Bloomsbury Publishing

ISBN: 1408857987

Category: Literary Collections

Page: 400

View: 8163

There are dramatic differences in health between countries and within countries. But this is not a simple matter of rich and poor. A poor man in Glasgow is rich compared to the average Indian, but the Glaswegian's life expectancy is 8 years shorter. The Indian is dying of infectious disease linked to his poverty; the Glaswegian of violent death, suicide, heart disease linked to a rich country's version of disadvantage. In all countries, people at relative social disadvantage suffer health disadvantage, dramatically so. Within countries, the higher the social status of individuals the better is their health. These health inequalities defy usual explanations. Conventional approaches to improving health have emphasised access to technical solutions – improved medical care, sanitation, and control of disease vectors; or behaviours – smoking, drinking – obesity, linked to diabetes, heart disease and cancer. These approaches only go so far. Creating the conditions for people to lead flourishing lives, and thus empowering individuals and communities, is key to reduction of health inequalities. In addition to the scale of material success, your position in the social hierarchy also directly affects your health, the higher you are on the social scale, the longer you will live and the better your health will be. As people change rank, so their health risk changes. What makes these health inequalities unjust is that evidence from round the world shows we know what to do to make them smaller. This new evidence is compelling. It has the potential to change radically the way we think about health, and indeed society.
Release

The Myth of Achievement Tests

The GED and the Role of Character in American Life

Author: James J. Heckman,John Eric Humphries,Tim Kautz

Publisher: University of Chicago Press

ISBN: 022610012X

Category: Business & Economics

Page: 472

View: 4024

Achievement tests play an important role in modern societies. They are used to evaluate schools, to assign students to tracks within schools, and to identify weaknesses in student knowledge. The GED is an achievement test used to grant the status of high school graduate to anyone who passes it. GED recipients currently account for 12 percent of all high school credentials issued each year in the United States. But do achievement tests predict success in life? The Myth of Achievement Tests shows that achievement tests like the GED fail to measure important life skills. James J. Heckman, John Eric Humphries, Tim Kautz, and a group of scholars offer an in-depth exploration of how the GED came to be used throughout the United States and why our reliance on it is dangerous. Drawing on decades of research, the authors show that, while GED recipients score as well on achievement tests as high school graduates who do not enroll in college, high school graduates vastly outperform GED recipients in terms of their earnings, employment opportunities, educational attainment, and health. The authors show that the differences in success between GED recipients and high school graduates are driven by character skills. Achievement tests like the GED do not adequately capture character skills like conscientiousness, perseverance, sociability, and curiosity. These skills are important in predicting a variety of life outcomes. They can be measured, and they can be taught. Using the GED as a case study, the authors explore what achievement tests miss and show the dangers of an educational system based on them. They call for a return to an emphasis on character in our schools, our systems of accountability, and our national dialogue. Contributors Eric Grodsky, University of Wisconsin–Madison Andrew Halpern-Manners, Indiana University Bloomington Paul A. LaFontaine, Federal Communications Commission Janice H. Laurence, Temple University Lois M. Quinn, University of Wisconsin–Milwaukee Pedro L. Rodríguez, Institute of Advanced Studies in Administration John Robert Warren, University of Minnesota, Twin Cities
Release

Exchange Rate Regimes in the Modern Era

Author: Michael W. Klein,Jay C. Shambaugh

Publisher: MIT Press

ISBN: 0262258331

Category: Business & Economics

Page: 266

View: 5598

The exchange rate is sometimes called the most important price in a highly globalized world. A country's choice of its exchange rate regime, between government-managed fixed rates and market-determined floating rates has significant implications for monetary policy, trade, and macroeconomic outcomes, and is the subject of both academic and policy debate. In this book, two leading economists examine the operation and consequences of exchange rate regimes in an era of increasing international interdependence.Michael Klein and Jay Shambaugh focus on the evolution of exchange rate regimes in the modern era, the period since 1973, which followed the Bretton Woods era of 1945--72 and the pre-World War I gold standard era. Klein and Shambaugh offer a comprehensive, integrated treatment of the characteristics of exchange rate regimes and their effects. The book draws on and synthesizes data from the recent wave of empirical research on this topic, and includes new findings that challenge preconceived notions.
Release

EconLit (1969-present)

the American Economic Association electronic bibliographic database of worldwide economics literature : abstracted and indexed with alphanumeric classification system : guide

Author: American Economic Association,Journal of Economic Literature

Publisher: N.A

ISBN: N.A

Category: Business & Economics

Page: 34

View: 5157

Release

Global Tax Fairness

Author: Thomas Pogge,Krishen Mehta

Publisher: Oxford University Press

ISBN: 0191038628

Category: Business & Economics

Page: 384

View: 519

This book addresses sixteen different reform proposals that are urgently needed to correct the fault lines in the international tax system as it exists today, and which deprive both developing and developed countries of critical tax resources. It offers clear and concrete ideas on how the reforms can be achieved and why they are important for a more just and equitable global system to prevail. The key to reducing the tax gap and consequent human rights deficit in poor countries is global financial transparency. Such transparency is essential to curbing illicit financial flows that drain less developed countries of capital and tax revenues, and are an impediment to sustainable development. A major break-through for financial transparency is now within reach. The policy reforms outlined in this book not only advance tax justice but also protect human rights by curtailing illegal activity and making available more resources for development. While the reforms are realistic they require both political and an informed and engaged civil society that can put pressure on governments and policy makers to act.
Release

Cooperative Microeconomics

A Game-Theoretic Introduction

Author: Hervé Moulin

Publisher: Princeton University Press

ISBN: 1400864143

Category: Business & Economics

Page: 466

View: 765

Over the past fifty years game theory has had a major impact on the field of economics. It was for work in game theory that the 1994 Nobel Prize in Economics was awarded. Although non-cooperative game theory is better known, the theory of cooperative games has contributed a number of fundamental ideas to microeconomic analysis. Cooperative Microeconomics is the definitive textbook on these contributions. Designed to be used by undergraduate and graduate students, the book provides a thorough introduction and overview of its subject. Hervé Moulin distinguishes among three primary modes of cooperation: cooperation by direct agreements; cooperation by just, equitable compromise; and cooperation by decentralized behavior. This tri-modal methodology is applied successively to the exchange of private goods, the fair division of unproduced commodities, the cooperative production of private and public goods, and cost-sharing. Moulin proposes an elementary and self-contained exposition (supplemented by over 125 exercises) of the main cooperative concepts for microeconomic analysis, including core stability, deterministic solutions (such as the Shapley value), and several broad principles of equity (such as the No Envy and Stand Alone tests). The book also covers the most important failures of the decentralized behavior: the tragedy of the commons and the free rider problem in the provision of public goods. Cooperative Microeconomics is the first book of its kind, and it will be widely used in courses in microeconomics and game theory. Originally published in 1995. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Release

Cultural Evolution

Society, Technology, Language, and Religion

Author: Peter J. Richerson,Morten H. Christiansen

Publisher: MIT Press

ISBN: 026231830X

Category: Psychology

Page: 504

View: 4591

Over the past few decades, a growing body of research has emerged from a variety of disciplines to highlight the importance of cultural evolution in understanding human behavior. Wider application of these insights, however, has been hampered by traditional disciplinary boundaries. To remedy this, in this volume leading researchers from theoretical biology, developmental and cognitive psychology, linguistics, anthropology, sociology, religious studies, history, and economics come together to explore the central role of cultural evolution in different aspects of human endeavor.The contributors take as their guiding principle the idea that cultural evolution can provide an important integrating function across the various disciplines of the human sciences, as organic evolution does for biology. The benefits of adopting a cultural evolutionary perspective are demonstrated by contributions on social systems, technology, language, and religion. Topics covered include enforcement of norms in human groups, the neuroscience of technology, language diversity, and prosociality and religion. The contributors evaluate current research on cultural evolution and consider its broader theoretical and practical implications, synthesizing past and ongoing work and sketching a roadmap for future cross-disciplinary efforts.ContributorsQuentin D. Atkinson, Andrea Baronchelli, Robert Boyd, Briggs Buchanan, Joseph Bulbulia, Morten H. Christiansen, Emma Cohen, William Croft, Michael Cysouw, Dan Dediu, Nicholas Evans, Emma Flynn, Pieter François, Simon Garrod, Armin W. Geertz, Herbert Gintis, Russell D. Gray, Simon J. Greenhill, Daniel B. M. Haun, Joseph Henrich, Daniel J. Hruschka, Marco A. Janssen, Fiona M. Jordan, Anne Kandler, James A. Kitts, Kevin N. Laland, Laurent Lehmann, Stephen C. Levinson, Elena Lieven, Sarah Mathew, Robert N. McCauley, Alex Mesoudi, Ara Norenzayan, Harriet Over, Ju ̈rgen Renn, Victoria Reyes-García, Peter J. Richerson, Stephen Shennan, Edward G. Slingerland, Dietrich Stout, Claudio Tennie, Peter Turchin, Carel van Schaik, Matthijs Van Veelen, Harvey Whitehouse, Thomas Widlok, Polly Wiessner, David Sloan Wilson.
Release

Political Economy in Macroeconomics

Author: Allan Drazen

Publisher: Princeton University Press

ISBN: 0691188009

Category: Business & Economics

Page: N.A

View: 643

Originally, economics was called political economy, and those studying it readily accepted that economic decisions are made in a political world. But economics eventually separated itself from politics to pursue rigorous methods of analyzing individual behavior and markets. Recently, an increasing number of economists have turned their attention to the old question of how politics shape economic outcomes. To date, however, this growing literature has lacked a cogent organization and a unified approach. Here, in the first full-length examination of how political forces affect economic policy decisions, Allan Drazen provides a systematic treatment, organizing the increasingly influential "new political economy" as a more established field at the highly productive intersection of economics and political science. Although he provides an extraordinarily helpful guide to the recent explosion of papers on political economy in macroeconomics, Drazen moves far beyond survey, giving definition and structure to the field. He proposes that conflict or heterogeneity of interests should be the field's essential organizing principle, because political questions arise only when people disagree over which economic policies should be enacted or how economic costs and benefits should be distributed. Further, he illustrates how heterogeneity of interests is crucial in every part of political economy. Drazen's approach allows innovative treatment--using rigorous economic models--of public goods and finance, economic growth, the open economy, economic transition, political business cycles, and all of the traditional topics of macroeconomics. This major text will have an enormous impact on students and professionals in political science as well as economics, redefining how decision makers on several continents think about the full range of macroeconomic issues and informing the approaches of the next generation of economists.
Release