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In January 1976, Raymond Barre, the first President of The Geneva Association, and Orio Giarini, its first Secretary General, founded The Geneva Papers on Risk and Insurance with the main goal of supporting and encouraging research in the economics of risk and insurance. At that time, research in the field of insurance was still embryonic and insurance was regarded as peripheral social activity. When sustained economic growth gained traction, the function of insurance gradually emerged as a key contributor to economic development. By integrating uncertainty into economic theory and benefiting from the progress of both financial economics and decision theory, research developed further in the field of insurance economics and risk management, and is now prolific. The Geneva Papers on Risk and Insurance undeniably contributed to this evolution and its impact on research in insurance has largely exceeded what its two founding members could have expected. This volume is a special collection of papers celebrating 40 Years of The Geneva Papers on Risk and Insurance. The collection looks back at the storied history of The Geneva Papers on Risk and Insurance and features papers from some of the esteemed authors who have contributed to the journal in its lifetime. This collection of papers highlights just a few of the many themes addressed in the papers published by the journal since it was created. Nevertheless, the selection exemplifies the richness and variety of topics the field of insurance covers.

This book illustrates the challenges that regulators and policy makers have faced in the transition from the ‘old'network industries to the new digital ecosystem. It succinctly describes the evolution of digital economy, its main actors, notably global digital platforms, as well as its interactions, interdependences, and trade-offs. Eventually, it proposes insights about why public rules are needed, what kind of rules could be more effective, fair, and efficient, and who should pose and enforce them. The book is opened by an introduction, dealing with Digital Transformation, Big Techs, and Public Policies, which provides a general conceptual and thematic framework to the following analysis but could be also read as a stand-alone paper. The following chapters are grouped in two parts: I. The Evolution of Digital Markets and Digital Rights, and II. Regulating Big Tech's Impact on Market and Society. The secondary title - the European approach – has a twofold meaning. It highlights the fact that this work has a clear focus on EU law and policy - although the economic and institutional issues addressed are global phenomena, common to all world's economies. In addition, it also underlines that European digital policy is not yet complete and effective. This book intends to provide a small contribution to the ongoing policy making process, as well as to the wider academic and policy debate.

Whatever happened to the money supply? This book explains how the analysis of monetary and credit aggregates is undertaken at the Bank of England, the European Central Bank and (as an example of a developing country) the Bank of Tanzania. The book also explores how this analysis relates to these central banks'monetary policy strategies and how it feeds into policymaking. An editorial introduction provides the intellectual and historical background – from the contributions of key economists such as Milton Friedman and Jacques Polak, to monetary targeting and inflation targeting – and argues that central banks and policy analysts would be foolish to neglect the insights monetary analysis can offer. The papers compiled in Monetary Analysis at Central Banks demonstrate just how useful and varied those insights are.

A comprehensive overview of current research in the field of trade, payments and debt. Grossman and Helpman provide a non-technical review of the literature on technological deteminants of trade. Thisse and Fujita discuss current work on the spatial configuration of economic activities. Robert Findlay tracks world trade from 1000 to 1750, while Robert Baldwin surveys the impact of international trading alliances. In his Presidential paper, the World Bank Vice-President Michael Bruno looks at the pattern of debt crises and economic recovery. The sustainability of external debt in Africa is examined by Daniel Cohen. Alberto Giovannini's argues the case for flexible exchange rates.

The Global Diamond Industry: Economics and Development brings together a collection of papers covering various aspects of the diamond industry including economics, law, history, sociology and development across two volumes.

In an era where technology is evolving at breakneck speed and populist movements are reshaping political landscapes, the regulation of market participants stands at a critical crossroads. The future of antitrust — once a relatively stable domain of law and policy — is now caught in a fierce battle between traditional doctrines and emerging approaches that seek to address the new realities of our time. This book delves into this struggle, offering a thought-provoking exploration of how antitrust laws have evolved, how they are being challenged, and what is at stake for the future. Through a unique lens that juxtaposes the legacies of Louis Brandeis, Robert Bork, and Joseph Schumpeter, this book offers an insightful analysis of the forces shaping the future of antitrust. By tracing the historical evolution of antitrust law through economic theory and examining the ongoing debates that define today's regulatory environment, the author provides a comprehensive yet accessible guide to the competing schools of thought in this critical field. This is a highly valuable resource for a diverse readership interested in the future of competition law and the broader regulation of innovation, from legal experts to students of law and economics, as well as professionals and policymakers navigating the complexities of market regulation.

This book takes a comparative law and economics approach to explore the role of public and private actors in regulating generative artificial intelligence. The book provides an introduction and context for the creation of new generative AI technologies, now understood to be the chief goal of the leading AI companies. As autonomous ‘super-intelligences', these technologies are still an unknown entity which nevertheless have profound implications for liberal democracy, consumer choice mechanisms, mutual trust, and political legitimacy. This book explores the deep challenges posed for lawmakers and how we can achieve an optimal form of regulation and governance of such unreliable technologies. Chapters investigate possible hybrid modes of regulation, such as a co-regulatory approach between private AI companies and public actors in addressing the issue of misinformation spread. It also explores mixed types of regulation toward research on new forms of AI, arguing that different levels of systemic risk posed by different technologies must be accounted for. Different contemporary and historical contexts for the regulation of unprecedented technical innovation are also considered, and new suggestions for policy are presented. This book is a timely resource which will be of interest to researchers and practitioners in economic governance, law and regulation, artificial intelligence, and comparative law.

This book examines the contemporary state of the capitalist economyand its future trajectory in a world characterized by multiple crises from population growth to ecological damage. Setting an understanding of modern capitalism in global historical context, chapters consider the uncertainty of capitalism's future and argues that capitalism must adapt dramatically to survive.. The book examines the major problems that a capitalist system faces, including inequality, organized crime, uncontrolled technological development, polarizing geopolitics, food security and climate change. To address these multifaceted challenges andminimize the impact of capitalism in exacerbating them, the book discusses the potential viability of a ‘steady state'economic model and a de-growth approach to the global economy. It also considers various alternative models for the future, including eco-socialism and participatory socialism. This book deftly weaves together perspectives on a wide variety of issues and will be a useful resource for scholars interested in Marxist economics and heterodox economics, political economy, economic development and economic thought.

This open access book connects Jane Jacobs's celebrated urban analysis to her ideas on economics and social theory. While Jacobs is a legend in the field of urbanism and famous for challenging and profoundly influencing urban planning and design, her theoretical contributions – although central to her criticisms of and proposals for public policy – are frequently overlooked even by her most enthusiastic admirers. This book argues that Jacobs's insight that “a city cannot be a work of art” underlies both her ideas on planning and her understanding of economic development and social cooperation. It shows how the theory of the market process and Jacobs's theory of urban processes are useful complements – an example of what economists and urbanists can learn from each other. This Jacobs-cum-market-process perspective offers new theoretical, historical, and policy analyses of cities, more realistic and coherent than standard accounts by either economists or urbanists.

This book explores China's tax system- one of the largest in the world, it operates on a quite different logic in taxing income, property and capital gains compared with most other countries. In an effort to reduce income inequality and continue to drive robust growth, a lively debate about the reform of China's tax system is taking place. In this book, some of China's most prominent thinkers on the topic share their insights and proposals. This book will interest scholars of the Chinese economy, business analysts and scholars of taxation policy.

This book examines the role of the Arctic in Iceland's foreign and security policies from the end of the Cold War to the present. Based on extensive research and drawing on approaches from the fields of history and international relations, it shows that Iceland's Arctic policies have gone through multiple phases during this period, all of which have been heavily influenced by external geopolitical factors, including its relationship with the United States, the 2008 financial crisis, the rise of China, and the Ukrainian crisis. It also demonstrates how Iceland's strategic position in the North Atlantic has important repercussions for the United States, Russia and China. With an emphasis on geopolitics, nation branding, and governance, this book will appeal to scholars and students of Arctic policies, geopolitics and international relations.

The metaverse is undergoing rapid and transformative changes, yet it has thus far lacked a comprehensive scholarly examination from a global and comparative standpoint. The publication addresses existing gaps by introducing fresh perspectives and frameworks across various domains within the metaverse, including law, economics, and finance. Drawing upon the expertise of an international cohort of scholars and practitioners, this volume illuminates emerging interdisciplinary insights with global relevance, facilitating a comparative analysis of diverse aspects of the metaverse. Timely and essential, this book contributes significantly to the metaverse literature, addressing urgent issues in this evolving landscape.

This book explores the dynamics of the Chinese labor market, the largest in the world. The sheer scale of rural laborers living in cities is the ultimate engine driving the fastest urbanization the world has ever seen. Today, the country faces a series of new challenges as it tries to address problems of unemployment and under-employment. These include population ageing, automation, the increasing use of AI on the factory floor and other workplaces and Chinese manufacturers'move up the value chain. The book presents an empirically rich and analytically rigorous account of how these challenges might be met. It will be of interest to labor economists, scholars of Chinese manufacturing, and researchers of the Chinese economy.

Risk is an ever-present feature of life in a complex world, and it is important for societies to manage it in a just and efficient manner. One way to reduce risk is to assign responsibility for the associated harm. In this book, economist Thomas J. Miceli examines harm and responsibility from an economic perspective. The book focuses on how responsibility affects people's incentives to refrain from causing unnecessary harm to achieve what economists call optimal deterrence. Secondarily, it is concerned with the quest for justice. Defining this is part of the journey. Does it mean compensating victims for unavoidable losses? Does it involve punishing wrongdoers in proportion to the harm they have caused? Is there a clear answer? The book addresses these questions and more, explaining how, in some cases, these objectives will align with deterrence and in others they will not. The book discusses the ways that the law, tempered by religious and social norms, strikes a balance between these goals. The principal areas of law that assign legal responsibility are tort law (for accidental harms) and criminal law (for intentional harms). There exist vibrant economic theories of both, and this volume draws on this literature. One theme that emerges is the role of causation in determining responsibility. Attributing responsibility for a given harm to the party that caused it seems both morally just (because it embodies personal responsibility), and economically desirable (because it achieves deterrence in the most direct manner). And yet the law departs from this prescription in any number of ways, both by limiting the responsibility of some who caused harm and by expanding responsibility to some who did not. The book offers readers coherent economic explanations for these departures from a purely causal basis for legal responsibility. Author Thomas J. Miceli clarifies causation as reciprocal in nature and therefore not a uniquely defined concept. This means that when an action by A causes harm to B, the question is not how to restrain A but rather: whether A has the legal right to take the action in question or whether B has the right to prevent it. There will be a harm either way; the relevant question is which party should bear it. This insight ultimately leads to the fundamental problem of defining harm. In most conflicts this can be straightforward—as when A punches B—but in others it is more challenging. For example, when does free speech become hate speech? Where is the line drawn? The book concludes by drawing out the implications of this fundamental ambiguity over the meaning of harm, what that means for the law, and what economic theory has to say about it.

This book offers a deparochial account of global justice and addresses disenchantment stemming from its West-centricity and provincial theoretical formulations. As the recurring global poverty debate restricts the duties of alleviating poverty and inequality to the developed world, this book attempts to broaden the spectrum of duties to the superrich of the developing world. Drawing from the case study of India's superrich as an exemplar of the potent agency of rising powers, the book examines the structural relationship between unbridled affluence and the (un)realisation of the human rights of the poor. It contends that India's superrich, like their counterparts in other powerful developing countries, both contribute as well as benefit from the highly decentralised global economic order that (re)produces affluence of the few and deprivation of the many within these countries. In doing so, this book argues that the superrich have a positive duty to alleviate poverty and reduce inequality beyond their free-standing moral responsibility for philanthropy.

This textbook offers a starting point for the education of attorneys and other legal professionals about the potential impact of artificial intelligence (AI) on the law, as well as a forum for discussing artificial intelligence's legal and ethical concerns. Intended for classroom use, this book will help students, legal professionals and policymakers alike. AI is swiftly transforming the world, including the legal system. Legal applications to areas such as ethics, human rights, climate change, labor law, health, social protection, inequality, lethal autonomous weapons, the criminal justice system and autonomous vehicles, contract drafting, legal investigation, criminal analysis and evidence investigation, utilize AI. As AI becomes more sophisticated, its impact on the law will likely increase.

Nearly one-third of US workers must obtain a license from a government agency to perform their jobs legally. This impacts employees across all areas, including lawyers, doctors, and accountants, as well as florists, hairdressers, physical therapists, and plumbers. The justification for occupational licensing is that potential consumers allegedly lack the information and knowledge to judge the competence of a service provider. This necessitates a licensing system built to ensure that customers are served by people who have received adequate training and certification in their profession. While there are recognizable benefits of occupational licensing, the training and certification requirements create barriers to entry for employees or those entering the profession. These barriers can limit competition, raise service costs, and restrict consumer access to essential services. Recent empirical work suggests that consumers have incurred these costs without being adequately protected from incompetent or unscrupulous service providers. This book addresses this situation head on. In light of occupational licensing's shortcomings, the authors of this book propose and analyze constructive reforms, assessing their effects on key professions such as law, medicine, and finance. Chapters identify the significant costs of current policies and they recommend practical reforms that rely more on market forces. The resulting book provides new ways to reduce licensing costs without compromising service quality.

This handbook brings together scholars from various disciplines and from around the world to examine the history, characteristics, effects, viability and implementation of basic income. The first edition of this book contributed a comprehensive treatment of multiple aspects of the basic income debate. This updated, expanded edition tackles new topics that are becoming increasingly prominent in the global debate. New chapters are devoted to recent research on the history of basic income; the development and peacemaking potential of basic income in conflict zones; municipal experiments in the United States; requirements for pilot projects and experiments; and the public health implications of basic income. Existing chapters on the implementation of basic income have also been substantially updated to take account of new research on microsimulation, land value tax, local currencies, and blockchain technology and cryptocurrency, along with new material on the increasing use ofopinion polls and the difficulties related to that. New political and ethical perspectives on the role of trade unions and their increasing engagement with the basic income debate are also introduced, while the section on pilot projects and experiments has been updated to cover recent political developments. Fully updated to reflect new global developments in the basic income debate, this handbook will be of interest to researchers, teachers and research-oriented policymakers in a range of fields.

This book states that the seventh information revolution is the intelligent Internet, and 5G is the foundation of the seventh information revolution. This book gives a clear introduction to the three major scenarios, six characteristics, core technologies, and global landscape of 5G, and answers'What is true 5G?'​This book also gives an in-depth explanation of 5G-enabled traditional industries, and outlines the profound changes that 5G will bring to transportation, medical, industry, and agriculture. Finally, the author made bold assumptions about the opportunities and challenges that human society faces in the post-5G era. For readers who want to fully understand 5G, this book provides an important reference and is a must-have book.

This book explores the impact of'Fintech'on the information asymmetry between the financial regulator and the markets. It details the growing regulatory mismatch and how Fintech exacerbates the “pacing problem”, where the regulator struggles to keep up with innovation. With information as a point of reference, the book adds a new perspective on the latest phenomenon in financial innovation and presents a novel framework for navigating structural changes in the financial sector. Based on this analysis, a number of proposals to reduce the information gap and avoid regulatory mismatch are discussed. Thereby, new and promising regulatory concepts, such as regulatory sandboxes and SupTech applications are also covered. This book provides a practical framework for regulatory responses to financial innovation. It will be relevant to researchers and practitioners interested in financial technology and regulation.

The book is the beginning of new interdisciplinary research series at the intersection of international relations, diplomacy, law, economics, and politics on the basis of global digital transformation. Digital international relations form a new mode of interaction between states and in terms of solving the most pressing problems of modernity. Law, economics, diplomacy and education are selected as key areas of human activity that can become the sphere of perspective research of digital international relations. This book will interest diplomats, scholars of international relations, and of international law.

This book offers an alternative to perspectives of distributive justice which fail to resolve economic inequality and exacerbate social problems by ignoring the real causes of inequality. The main impact of the book is to highlight the importance of self-ownership and private property, showing how market participation advances liberty and prosperity. The idea that we should pay reparations to disadvantaged racial groups as compensation for historical injustice is deeply contested. The debates often focus on the practical implications of paying reparations, but overlook more fundamental questions about the meaning of justice. What is justice? What are the implications of wealth redistribution for individual liberty and the rule of law? This book answers these questions through an analysis of classical liberal perspectives in law, philosophy and economics. The book questions whether economic inequality stems from historical injustice, and explores the wider implications of attempting to create equal outcomes through legislative mandates. The book argues that free markets, resting on libertarian rights, are the best way to help disadvantaged members of society and to create the conditions more likely to advance economic equality. The book will be of interest to researchers and students of economics, law, politics and philosophy.

This book is a primer on economics of competition law by a Commissioner based on cases of the Competition Commission of India (CCI). It presents economic theories in lucid ways while providing an in depth economic analysis of the cases dealt by CCI and in the process, it blends the diversity of responses by including the orders upheld by majority and minority. In essence. It is a unique work that addresses the gap between competition law and economics.

This book provides an engaging introduction to economics through a literary lens. Drawing on writers such as James Joyce, George Eliot, Edith Wharton, Jane Austen, Charlotte Bronte, and Elizabeth Gaskell, each chapter is framed around a quote from a classic text of English literature that helps tease out a key economic concept and demonstrate its broader relevance. While rigorous, the book is virtually free of technical language and aims to give a concise overview of all the main topics in contemporary economics – from supply and demand, pricing, labour markets, externalities, and game theory, to environmental and behavioural economics, fiscal policy and business cycles, modern approaches to macroeconomics and economic growth.Interweaving literary examples with easy-to-follow explanations and reflective tasks, the book takes an interdisciplinary approach to economics and literature that requires no prior knowledge in either camp, but which illuminates patterns of real-world behaviour observed by novelists and economists alike. This concise and accessible book will be a valuable tool for students embarking on introductory economics courses, economics modules in business studies, and interdisciplinary courses more broadly, as well as the general reader interested in building their knowledge of economics.

This book provides a novel in-depth study of the early pandemic response policy at the intersection of political economy and law. It explores: (1) whether the responses to COVID-19 were democratically accountable; (2) the ways in which new surveillance and enforcement techniques were adopted; (3) the new monetary and fiscal policies which were implemented; (4) the ways in which employed and unemployed persons were differently impacted by the new policies; and (5) how companies were economically sustained through the pandemic. A compelling look at what happens to societies when disaster strikes, this book will be of interest to legal scholars, political scientists and economists.

This book, the second of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia's greatest ever economist. Some of Swan's most prominent articles are presented alongside analysis of his work from leading historians of economic thought to provide a broad and insightful view of his work. Particular attention is given to Swan's work on the balance of payments, economic development, capital accumulation, and the neoclassical growth model. This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to students and researchers interested in the history of economic thought and those that want to understand the foundations of modern macro, trade, and neoclassical economics.

This book explores China's hukou system, by which individuals are registered in a specific geographic region, and the prospects for reform. The history of the hukou system and its instrumental role in Chinese urbanization and labor markets is explained, and readers get a sense of what issues are prioritized by Chinese policymakers as they contemplate reform or change to this system, from hukou-based labor market discrimination, inequality of opportunity, multi-dimensional poverty of rural migrants, the public health consequences of non-hukou migration, and old age insurance for migrants without hukous. The author concludes with a stirring and practical call for hukou reform, articulating a cost-benefit model and providing an array of policy suggestions. This book will interest scholars of Chinese society, demographics and future urbanization.

This book shows how modern political, economic and moral theory, including our ideas of liberty and individualism, are trapped in 17th century notions of intuitive reasoning and not informed by modern scientific understanding. Brian Ellis starts with a re-appraisal of the founding of the United Nations and the political and economic policies of the post-war reconstruction period. He then shows how this period, despite its many faults, embodied a philosophy more closely embedded in scientific realism than dominant theories of either left or right today. He goes on to develop this philosophy, meticulously, demolishing theories of Rawls, Nozick and others along the way. The result is a philosophy that investigates how a society actually works, supports evidence-based economics and can better enable human beings to flourish. It is a philosophy that can also accommodate the historical differences between societies and their different, but parallel, development strategies over time.

This edited collection presents an economic history of Catalonia and its economic crises, from Roman times to the political difficulties of the present day. It considers how the strong identity of the Catalan people has been reinforced in critical episodes such as the commercial revolution of the Late Medieval Age, the 1640 rebellion, the Succession War of 1705-1714, the industrial revolution of the eighteenth and nineteenth centuries, and the strong repression during early Francoism. The book also explores how historical parallels from Catalonia's past might shed light on the long-term consequences of the Great Recession of 2007-9 and recovery in the EU, showing how the typical Mediterranean approach of adjusting to crises by depreciating currencies and expanding public deficits has been less straightforward during the most recent financial crisis. A particularly deep slump has contributed to fostering the claim for independence of Catalonia in recent times, echoing larger dissatisfaction with EU monetary policy. With a comprehensive overview of major events in Catalonian economic history and their broader implications to European political economy and development, this book will be of interest to students and academics in economic history, social history, and monetary economics.

This book, inspired partly by journalism's failure to raise early warning flags in the run up to financial crises and by the rise of (economic) populism in recent years, puts forward a framework for economic journalism. It argues that that independent quality economic journalism is essential to the functioning of both the market and democracy but is under threat, and explores questions raised by the decline of media trust: what is the value of economic journalism? And how can journalists change their practices to counter this decline? The book takes a global approach with one chapter focusing on European integration and concludes with an outlook on the future of economic journalism, and the financing of journalism more widely.

This book examines the development of social support systems in the Modern age in the rural areas of the city-states of Northern Italy. This investigation achieves two main purposes: first, it allows researchers to understand the role occupied concretely by welfare and micro-credit activities in the political and socio-economic panorama of rural Northern Italy; secondly, it verifies to what extent the formation of a more or less structured support system influenced the establishment of local identity and the rooting of individuals. The book brings together perspectives from different fields of research ranging from economic and political history to the study of the history of ecclesiastical institutions, as well as integrating recent research on the anthropological value of welfare actions and the use of multiple historical sources. It considers how the retreat of the welfare activity of the State, associated with a depopulation of the rural areas of the peninsula and a steady increase of poverty into social fringes that were previously not affected by economic problems, pushes us to investigate more carefully the dynamics that in the Ancien Régime gave shape to the support activities against indigence and poverty. This book will be of interest to academics and students working in economic history and social history.

This book explores the challenges China has faced during its economic restructuring, including trade wars, rising costs of labor and land, climate change, recalcitrant state-owned enterprises, an aging population and other problems. Since its historic reform and opening up, China has achieved and sustained remarkable economic growth driven primarily by manufacturing and the real estate industry. As the country continues to move up the supply chain,'Made in China,'once synonymous with poor quality, but has come to mean advanced technologies. China's future economic growth and its success in economic restructure will depend crucially on the dynamic evolution of the country's comparative advantages. Contributors examine how the dynamic evolution of China's comparative advantages can help the country overcome two closely related problems: heavy dependence on low value-added exports and the prospects of falling into the middle-income trap. The book willbe of value to researchers interested in China's economic development and policies.

This open access handbook is distinguished by its emphasis on international energy, rather than domestic energy policies or international geopolitic aspects. Addressing key topics such as energy production and distribution, renewables and corporate energy structures, alongside global energy trends, regional case studies and emerging areas such as the digitalization of energy and energy transition, this handbook provides a major new contribution to the field of international energy economics. Written by academics, practitioners and policy-makers, this handbook is a valuable and timely addition to the literature on international energy economics. This book was published open access with the support of Eni.

This book assesses the impacts of the right within the US and UK, forty years on from their initial effects upon economic and social orthodoxies. It argues that one way of understanding the main developments in the political economies of the major Anglophone countries during these decades is to see them as a conservative reaction to the New Deal and the Welfare State, and the associated growth in state intervention, expenditure and regulation. The recent rise in ‘authoritarian populism'can be seen as a popular response to the policies associated with this reaction, the response being exploited by populist demagogues like Donald Trump, Boris Johnson and Marine Le Pen. Written in a lively and engaging manner, this book will be of interest to academics and students in politics, economics, sociology and contemporary history, as well as general readers.

This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions from a number of leading economists in the field. It provides a comprehensive overview of the current academic and policy challenges surrounding R&D as well as of the state-of-the-art modelling techniques.The book brings to the forefront outstanding issues related to the assessment of the macroeconomic impact of R&D policies and its modelling. It speaks to the rising importance of R&D and innovation policy, and the proliferation of macroeconomic models featuring endogenous technological change.The contents of this book will be of interest to both academic and policy audiences working in the fields of R&D and innovation.

This book integrates Working Capital Management, Trade Credit, and Supply-Chain Finance in a comprehensive framework, illustrated by dozens of case studies, including a leading case which explains how improved working capital practices have led to over U$1 billion in savings for a large company. The General Model of Working Capital Management consolidates the aspects of these subjects spread across different disciplines, such as finance, accounting, operations, marketing, and more. It includes enough material to make the book accessible to a broad audience, from introductory undergraduate courses to business executives. Offering managerial lessons to optimize companies'cash flow, case studies run the whole gamut, from the small business owner who cried in an executive class when realizing how bad working capital management almost destroyed his business to the significance of Amazon's and Tesco's negative cash conversion cycle for their expansion. Formal models include the relationship between market power and value extraction through changes in payment terms for consumers and suppliers, in-kind finance, and trade credit with asymmetric competing retailers. The book also explores how just-in-time strategies developed under capital constraints to limit working capital investments; they are more than the search for production efficiency. Finally, the chapter about the greening of supply chains describes how companies that can extract resources from their supply chain or act as trade credit lenders have a crucial role in mitigating climate change.

This open access book uses an interdisciplinary approach that not only focuses on social organization but also analyzes how societies and ecological settings were interwoven. How did early modern indigenous Sami inhabitants in interior northwest Fennoscandia build institutions for governance of natural resources? The book answers this question by exploring how they made decisions regarding natural resource management, mainly with regard to wild game, fish, and grazing land and illuminate how Sami users, in a changing economy, altered the long-term rules for use of land and water in a self-governance context. The early modern period was a transforming phase of property rights due to fundamental changes in Sami economy: from an economy based on fishing and hunting to an economy where reindeer pastoralism became the main occupation for many Sami. The book gives a new portrayal of how proficiently and systematically indigenous inhabitants organized and governed natural assets and how capable they were in building highly functioning institutions for governance.

The University of Chicago has been and continues to be one of the most important global centres for economics. With six chapters on themes in Chicago economics and 33 chapters on the lives and work of Chicago economists, this volume shows how economics became established at the University, how it produced some of the world's best-known economists, including Frank Knight, Milton Friedman and Robert Lucas, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, this volume provides economists – especially those interested in macroeconomics and the history of economic thought – with an in-depth analysis of Chicago economics.

This book, the first of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia's greatest ever economist. An insightful biography is accompanied with Swan's most prominent articles to provide a broad view of his life and work. Particular attention is given to the famous Swan Diagram, known among macroeconomists worldwide, Swan's four zones of economic unhappiness, his view of how economies grew based on capital deepening and technical progress, and the Solow-Swan model of economic growth. This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to students and researchers interested in the history of economic thought.

This book examines financial vulnerability: a state in which a person or household cannot absorb any substantial spending or negative income shock without substantial financial and ultimately broader harm such as job loss, emotional harm, or mental illness. The focus of the book is on the experiences of low- income and modest income Canadian families – families which, by virtue of being in the lower income brackets, are particularly at risk of experiencing financial hardship. Looking at vulnerability from a conceptual and empirical lens, this book offers a framework to better understand the complex and interdependent ways in which financial vulnerability emerge and can be addressed. By locating its analysis of individual and household financial management in wider community, cultural, and economic contexts, this book seeks to offer holistic policy recommendations to reduce financial vulnerability, with implications that go beyond Canada and to other developed countries.

This book asks anew whether there really was European integration before 1914. By focussing on quantitative (economic indicators) and qualitative data (the international regulation of patents, communication networks, social policy and plant protection), the authors re-evaluate European integration of the time and address the politics of seemingly apolitical cooperation. The authors show that European integration was multifaceted and cooperation less the result of intent, than of incentives. National polities and international regimes co-shaped each other. The result is a book that achieves two things: offer stand-alone chapters that shed light on specific developments and – these read altogether – develop a bigger picture. It will be of interest to researchers and students of economic history, as well as those interested in the history of internationalism and globalisation.

This book examines how international trade can be utilised to build a sustainable future. It highlights how international trade and climate regimes can work together to put in place a Green New Deal. The potential of mega-regional trade agreements to aid climate change mitigation and power the energy transition is explored in relation to the energy section, with a particular focus on clean technology. Broader perspectives are provided by an analysis of international trading systems in the Caribbean and Pacific Islands and a review of climate change law and policy in Brazil, Russia, India, and China. This book aims to provide an interdisciplinary understanding of how green trade can be achieved. It will be relevant to researchers and policymakers interested in international trade and environmental economics.

Composite indices are used by national and international organisations, as well as governments and corporations, to track various performance aspects of a country's economy and its people, evaluate progress, and engage constructively in policy dialogue; and they have long proven useful as communication tools and inputs into decision-making and policymaking. Modern Indices for International Economic Diplomacy compiles a spectrum of relevant indices for development and well-being used in benchmarking across nations, namely the OECD Better Life Index, the Gini Index, the Gender Equality/Inequality Index, the International Energy Security Risk Index, the Big Mac Index, the Country Risk Index, the Corruption Perceptions Index, and the Global Terrorism Index. The book will be relevant to practitioners, policymakers, researchers, and students interested in the topic of international economic relationships.

This book exposes, for the first time in modern scholarship, the role that the rise of the Carry Trade played in British financial crises between 1825 and 1866, how in reaction the Bank of England improved its management of monetary policy after 1866 and how those lessons have been forgotten since the 1970s. Britain is one of the few major capitalist economies in the world to have avoided policy-induced systemic financial crises for more than 100 years of its history—between 1866 and 1973. Beforehand, it suffered a series of serious banking panics, in 1825, 1837, 1847, 1857-58 and 1866. Since the 1970s banking instability has returned again, with the global financial crisis of 2007-09 hitting Britain hard. Economists and policymakers have asked what can be learnt from Britain's experience of the disappearance and reappearance of crises to help efforts to prevent future ones. This book answers that question with a major reassessment of Britain's financial history over the past two centuries. It does so by applying the long-neglected ideas of the British Banking School to explain how crises can occur because of the Carry Trade. This book is essential reading for economists and historians of modern Britain, practitioners and policymakers, as well as anyone who is affected by financial crises and their consequences.

Classical liberalism has typically sought to maintain as much room as possible for the exercise of personal initiative in the face of the encroachment of states. This book explores these questions of coercion and authority in the context of the size and scope of the state and argues that the state and its agents should be held to the same moral rules as are the individuals it rules over. The book considers how a distinct feature of the state is its police or coercive power, about which one may ask how the state acquires it and what if anything would justify its use. It considers the implication that there is nothing inherent about state agents that entitles one to behave in ways that we would not accept from a private actor, and how once that argument is made, the state's claim to authority is weakened. The author also discusses the extent to which democracy has been thought to provide any sort of justification for coercion or authority. This book will be of interest to academics and students of political philosophy, especially classical liberalism, and legal philosophy.

This book outlines the origins of Danish Capitalism and prosperity, from a poor and devastated minor state in the 19th century to a consolidated universal mixed economy welfare state at the end of the 20th century. The book argues that firm-based innovation drove Danish prosperity and redistributive capacity. It is a comprehensive but manageable examination of the institutions and choices that shaped a highly innovative and wealthy nation. The book relies on history and economic theory, presents commonly accepted narratives and theories, and contributes new explanations. Therefore, the book also traces both antecedents and the current state of 20th-century capitalism in Denmark and particular outcomes and critical institutions such as firm age, the labor market, and pension schemes. The book will be of interest to academics in business history and economic policy, as well as policymakers and all those interested in mixed economy studies.

This book explores the impacts of current mining licensing regimes in Africa and how they influence sustainable development principles. International law and conventions on mining are used as a lens to examine a regionalized perspective of the history of mining law and customary land law. Alternative approaches are then suggested, through a comparative and sovereignty-based study of mining laws and policies, to see how the challenge of uneven development can be combatted using minerals.This book aims to highlight how mineral possessions can transform communities if the economic policies, customary law structures, and the geopolitical landscape guarantee inclusivity and equal partnerships. It will be relevant to researchers and policymakers interested in mineral economics, mining law, and African economies.

Digital ecosystems formed on the basis of digital platforms are significantly transforming modern reality. Today it is difficult to imagine life without LinkedIn, Facebook, or Amazon. The total income generated by them is estimated at trillions of dollars. Digital platforms are the main driving force of the digital economy. The impact and growth of digital platforms on social and economic processes today is difficult to overestimate. The pandemic has further deepened their influence on society, as almost all social communication and economic activity has moved to online format on digital platforms. The growth of the share of digital platforms in various segments of the economy was so rapid that regulators around the world were not ready for such large-scale transformations. All this has caused a number of crisis phenomena, when IT giants have grown into an independent branch of “power”, which has direct access to the personal and financial data of millions of citizens, and moreover,have the opportunity to directly influence them. This monograph is a unique publication in which, for the first time, a large-scale and sufficiently deep team of experts and scientists from various countries of the world studied in detail the multidimensional phenomenon of the “platform economy” and the measures taken by states to regulate these processes. The book will be interesting to a wide range of readers interested in the problems of the development of digital platforms and the developing branch of law and science – the law of digital platforms.

This Palgrave Pivot provides a conceptual and practical discussion of the factors that comprise a standard economic damage model in an employment termination case. This book discusses the economic factors and assumptions that comprise an economic damages model in an employment termination case. It also provides a discussion of the valuation of employee fringe benefits and employee stock option valuations. Background on the concept of discounting and discussions of the required information in employment cases are also provided. Readers are able to see the analysis in action, with case studies revolving around highly skilled individuals, less skilled individuals, public sector employees, highly educated individuals, managers and executives, and defamation and damage to reputation.

This book examines the need for greater legal coherence within international trade negotiations between the European Union (EU) and external trade relations. An introspective analysis of EU trade law and policy is presented that highlights the complex issue of EU unity. A particular focus is given to the Doha Round and the General Agreement on Trade in Services, with empirical analysis placing the negotiations not just within the context of international trade law, but also within broader social and political contexts. This book aims to provide an interdisciplinary understanding of the EU's international trade negotiations. It will be relevant to researchers and policy-makers interested in international trade and EU law.