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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 accessible and engaging textbook provides an introduction to the equations that have defined economics and shaped the global economy. It not only presents the ideas, concepts, and applications that underpin these equations, but also places them within their broader social and historical contexts. Simple mathematical examples and illustrations of the real-world application of the equations are combined with an overview of the implications to give a complete understanding of the power and importance of each equation. It will be relevant to economics students wishing to broaden their understanding of mathematics, mathematical economics, applied economics, and the history of economic thought.

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 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 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.

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.

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.

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.

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.

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 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.

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.

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 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.

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 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 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 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 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 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 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 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 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 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 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, 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, 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.