Anthony Garratt, Kevin Lee, M. Hashem Pesaran, and Yongcheol Shin
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199296859
- eISBN:
- 9780191603853
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199296855.003.0004
- Subject:
- Economics and Finance, Econometrics
This chapter describes a specific theoretical framework for the macroeconomic modelling of a small open economy, emphasizing stock-flow equilibria, accounting identities, and arbitrage conditions. It ...
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This chapter describes a specific theoretical framework for the macroeconomic modelling of a small open economy, emphasizing stock-flow equilibria, accounting identities, and arbitrage conditions. It describes how the framework can be embedded within a macroeconometric model, noting the testable restrictions on the long-run relations suggested by the theory.Less
This chapter describes a specific theoretical framework for the macroeconomic modelling of a small open economy, emphasizing stock-flow equilibria, accounting identities, and arbitrage conditions. It describes how the framework can be embedded within a macroeconometric model, noting the testable restrictions on the long-run relations suggested by the theory.
Daniel K. Finn (ed.)
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780199858354
- eISBN:
- 9780199949472
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199858354.001.0001
- Subject:
- Religion, Religion and Society
Caritas in veritate (Charity in Truth) is the “social” encyclical of Pope Benedict XVI, one of many papal encyclicals over the last 120 years that address economic life. This volume ...
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Caritas in veritate (Charity in Truth) is the “social” encyclical of Pope Benedict XVI, one of many papal encyclicals over the last 120 years that address economic life. This volume analyzes the situation of the Church and the theological basis for Benedict’s thinking about the person, community, and the globalized economy. This book engages Benedict’s analysis of “relation,” the characteristics of contemporary social and economic relationships, and the implications of a relational, Trinitarian God for daily human life. Crucial here is the Pope’s notion of “reciprocity,” an economic relationship characterized by help freely given, but which forms an expectation that the recipient will “reciprocate,” either to the donor or, often, to someone else. This “logic of gift,” Benedict argues, should influence daily economic life, especially within what he calls “hybrid” firms, which make a profit and invest a share of that profit in service to needs outside the firm. Similarly, development—whether of an individual or of a nation—must be integral, neither simply economic nor personal nor psychological nor spiritual, but a comprehensive development that engages all dimensions of a flourishing human life. The chapters engage, extend, and critique Benedict’s views on these issues, as well as his call for deeper dialogue and a morally based transformation of social and economic structures.Less
Caritas in veritate (Charity in Truth) is the “social” encyclical of Pope Benedict XVI, one of many papal encyclicals over the last 120 years that address economic life. This volume analyzes the situation of the Church and the theological basis for Benedict’s thinking about the person, community, and the globalized economy. This book engages Benedict’s analysis of “relation,” the characteristics of contemporary social and economic relationships, and the implications of a relational, Trinitarian God for daily human life. Crucial here is the Pope’s notion of “reciprocity,” an economic relationship characterized by help freely given, but which forms an expectation that the recipient will “reciprocate,” either to the donor or, often, to someone else. This “logic of gift,” Benedict argues, should influence daily economic life, especially within what he calls “hybrid” firms, which make a profit and invest a share of that profit in service to needs outside the firm. Similarly, development—whether of an individual or of a nation—must be integral, neither simply economic nor personal nor psychological nor spiritual, but a comprehensive development that engages all dimensions of a flourishing human life. The chapters engage, extend, and critique Benedict’s views on these issues, as well as his call for deeper dialogue and a morally based transformation of social and economic structures.
Malanima Paolo, Astrid Kander, and Paul Warde
- Published in print:
- 2014
- Published Online:
- October 2017
- ISBN:
- 9780691143620
- eISBN:
- 9781400848881
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691143620.003.0010
- Subject:
- Economics and Finance, Economic History
This chapter examines the role of energy in the economic growth of twentieth-century Europe. It considers the interrelationships of factors of production in order to identify the general features of ...
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This chapter examines the role of energy in the economic growth of twentieth-century Europe. It considers the interrelationships of factors of production in order to identify the general features of a shared experience of growth, rather than to illuminate the local differences. The chapter first explains how development blocks contributed to GDP growth before discussing seven long-run propositions, including the strong growth of capital stock and catch-up with the leader of capital–GDP ratios; machinery increased more than GDP, labor, and other capital; and falling and converging energy intensity in the twentieth century. The chapter concludes with an overview of the link between energy intensity and economic structure. It argues that it was the third industrial revolution that was behind most of the increasing economic efficiency of energy consumption after the 1970s.Less
This chapter examines the role of energy in the economic growth of twentieth-century Europe. It considers the interrelationships of factors of production in order to identify the general features of a shared experience of growth, rather than to illuminate the local differences. The chapter first explains how development blocks contributed to GDP growth before discussing seven long-run propositions, including the strong growth of capital stock and catch-up with the leader of capital–GDP ratios; machinery increased more than GDP, labor, and other capital; and falling and converging energy intensity in the twentieth century. The chapter concludes with an overview of the link between energy intensity and economic structure. It argues that it was the third industrial revolution that was behind most of the increasing economic efficiency of energy consumption after the 1970s.
Richard Alba and Nancy Foner
- Published in print:
- 2015
- Published Online:
- October 2017
- ISBN:
- 9780691161075
- eISBN:
- 9781400865901
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691161075.003.0003
- Subject:
- Sociology, Migration Studies (including Refugee Studies)
This chapter looks at the economic situations of the immigrants. They have uprooted themselves in the search for better economic prospects, but profound changes in the economic structures of the rich ...
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This chapter looks at the economic situations of the immigrants. They have uprooted themselves in the search for better economic prospects, but profound changes in the economic structures of the rich societies of the West in recent years raise serious doubts about whether their aspirations will be fulfilled and therefore about the starting point for the next generation. The chapter then explores the implications of growing labor market inequality and precarious work for the economic incorporation of immigrants, including rates of labor force participation, unemployment, and risks of poverty. The emphasis is on how immigrants are doing compared to natives in the countries where they live, with the emphasis on low-status immigrants.Less
This chapter looks at the economic situations of the immigrants. They have uprooted themselves in the search for better economic prospects, but profound changes in the economic structures of the rich societies of the West in recent years raise serious doubts about whether their aspirations will be fulfilled and therefore about the starting point for the next generation. The chapter then explores the implications of growing labor market inequality and precarious work for the economic incorporation of immigrants, including rates of labor force participation, unemployment, and risks of poverty. The emphasis is on how immigrants are doing compared to natives in the countries where they live, with the emphasis on low-status immigrants.
Malanima Paolo, Astrid Kander, and Paul Warde
- Published in print:
- 2014
- Published Online:
- October 2017
- ISBN:
- 9780691143620
- eISBN:
- 9781400848881
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691143620.003.0007
- Subject:
- Economics and Finance, Economic History
This chapter considers the role that energy played in the industrial growth in nineteenth-century Europe. The economies of Europe grew more rapidly during the nineteenth century than at any previous ...
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This chapter considers the role that energy played in the industrial growth in nineteenth-century Europe. The economies of Europe grew more rapidly during the nineteenth century than at any previous period in history. This was not simply a consequence of the doubling of the population; per capita income rose as well. Given these facts it is hardly surprising that energy consumption also increased dramatically. Consumption of coal seems to have been a key part of economic growth, as measured by per capita income, and cheap energy was a necessary condition of the industrial revolution. The chapter first considers how coal development blocks contributed to growth in Europe during the period before discussing a number of long-run propositions, such as the strong complementarity between energy and capital. It concludes with an assessment of the link between energy intensity and economic structure.Less
This chapter considers the role that energy played in the industrial growth in nineteenth-century Europe. The economies of Europe grew more rapidly during the nineteenth century than at any previous period in history. This was not simply a consequence of the doubling of the population; per capita income rose as well. Given these facts it is hardly surprising that energy consumption also increased dramatically. Consumption of coal seems to have been a key part of economic growth, as measured by per capita income, and cheap energy was a necessary condition of the industrial revolution. The chapter first considers how coal development blocks contributed to growth in Europe during the period before discussing a number of long-run propositions, such as the strong complementarity between energy and capital. It concludes with an assessment of the link between energy intensity and economic structure.
Werner Hildenbrand
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780198292111
- eISBN:
- 9780191596537
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292112.003.0004
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Microeconomics
The author argues that the standard equilibrium model of economics is devoid of empirical content and that a theory based on individual rationality derived from introspection provides no explanations ...
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The author argues that the standard equilibrium model of economics is devoid of empirical content and that a theory based on individual rationality derived from introspection provides no explanations of real world phenomena. He suggests that the way forward lies in deriving predictions from empirical facts and then testing for the presence of these facts. This is contrary to current practice.Less
The author argues that the standard equilibrium model of economics is devoid of empirical content and that a theory based on individual rationality derived from introspection provides no explanations of real world phenomena. He suggests that the way forward lies in deriving predictions from empirical facts and then testing for the presence of these facts. This is contrary to current practice.
Tom Scott
- Published in print:
- 1998
- Published Online:
- October 2011
- ISBN:
- 9780198206446
- eISBN:
- 9780191677120
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206446.003.0001
- Subject:
- History, European Early Modern History, Economic History
Much of the force of contemporary regionalism in Europe derives from its critique of a hegemonic political culture which characterizes states without a devolved structure of power. There is now a ...
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Much of the force of contemporary regionalism in Europe derives from its critique of a hegemonic political culture which characterizes states without a devolved structure of power. There is now a widespread perception that only a regional framework for political, cultural, and economic activity can overcome the rigidities of the nation-state or, for that matter, of bureaucratic centralism in Brussels. This book investigates whether a sense of regional identity, defined by economic criteria, can be discerned on the southern Upper Rhine in the period from the mid-fifteenth to the late sixteenth century. It examines whether natural regions and frontiers exist at all, and if so, how they should be defined. It also considers the economic structure of the Upper Rhine in the light of competition over resources and their distribution. It applies theories of centrality to see whether they can explain the incidence of rural competition in crafts and marketing for the traditional urban centres.Less
Much of the force of contemporary regionalism in Europe derives from its critique of a hegemonic political culture which characterizes states without a devolved structure of power. There is now a widespread perception that only a regional framework for political, cultural, and economic activity can overcome the rigidities of the nation-state or, for that matter, of bureaucratic centralism in Brussels. This book investigates whether a sense of regional identity, defined by economic criteria, can be discerned on the southern Upper Rhine in the period from the mid-fifteenth to the late sixteenth century. It examines whether natural regions and frontiers exist at all, and if so, how they should be defined. It also considers the economic structure of the Upper Rhine in the light of competition over resources and their distribution. It applies theories of centrality to see whether they can explain the incidence of rural competition in crafts and marketing for the traditional urban centres.
Christopher Dow
- Published in print:
- 2000
- Published Online:
- November 2003
- ISBN:
- 9780199241231
- eISBN:
- 9780191596179
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199241236.003.0003
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Any such study as this one on recessions necessarily makes assumptions about the causal structure of the economy, and about the nature of underemployment or overfull employment. These involve ...
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Any such study as this one on recessions necessarily makes assumptions about the causal structure of the economy, and about the nature of underemployment or overfull employment. These involve much‐argued theoretical questions, and this chapter discusses three of the issues concerned: Sect. 3.1 states assumptions about the basic causal structure of the economy; Sect. 3.2 considers the continuing shift implicit in steady growth in the price of factor input relative to that of output, and how this mechanism operates; Sect. 3.3 discusses the phenomenon of persistent underemployment, which it argues is a stable state, which implies that the economy lacks any general power of self‐adjustment of the sort that would restore high employment. The discussion is more heterodox than novel, since defining the assumptions that are made involves taking a view on a number of controversial issues. There are two short appendices: Appendix A3.l is a note on the theoretical discussion about the features of the economic system that allow the possibility of unemployment; Appendix A3.2 summarizes the case against the High Real Wage theory of unemployment.Less
Any such study as this one on recessions necessarily makes assumptions about the causal structure of the economy, and about the nature of underemployment or overfull employment. These involve much‐argued theoretical questions, and this chapter discusses three of the issues concerned: Sect. 3.1 states assumptions about the basic causal structure of the economy; Sect. 3.2 considers the continuing shift implicit in steady growth in the price of factor input relative to that of output, and how this mechanism operates; Sect. 3.3 discusses the phenomenon of persistent underemployment, which it argues is a stable state, which implies that the economy lacks any general power of self‐adjustment of the sort that would restore high employment. The discussion is more heterodox than novel, since defining the assumptions that are made involves taking a view on a number of controversial issues. There are two short appendices: Appendix A3.l is a note on the theoretical discussion about the features of the economic system that allow the possibility of unemployment; Appendix A3.2 summarizes the case against the High Real Wage theory of unemployment.
Raaj K. Sah and Joseph E. Stiglitz
- Published in print:
- 2002
- Published Online:
- January 2005
- ISBN:
- 9780199253579
- eISBN:
- 9780191601682
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199253579.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
One of the concerns of this book is with government policies towards food and other agricultural goods, and with how a government treats producers in the rural sector and consumers in the urban ...
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One of the concerns of this book is with government policies towards food and other agricultural goods, and with how a government treats producers in the rural sector and consumers in the urban sector. Governments – both in LDCs (less developed countries) and in several developed countries – play an active role in setting food prices received by farmers and the food prices paid by city-dwellers. Therefore, it is important to identify what are the salient characteristics of LDCs relevant to such policies, what the stated objectives of these policies are, and what the alternative instruments at a government’s disposal are for attaining these objectives. Accordingly, as a basis for the methods used in the book, this chapter addresses the stated objectives of food-related policies, puts agricultural policies in perspective, and gives an account of the economic structure of LDCs.Less
One of the concerns of this book is with government policies towards food and other agricultural goods, and with how a government treats producers in the rural sector and consumers in the urban sector. Governments – both in LDCs (less developed countries) and in several developed countries – play an active role in setting food prices received by farmers and the food prices paid by city-dwellers. Therefore, it is important to identify what are the salient characteristics of LDCs relevant to such policies, what the stated objectives of these policies are, and what the alternative instruments at a government’s disposal are for attaining these objectives. Accordingly, as a basis for the methods used in the book, this chapter addresses the stated objectives of food-related policies, puts agricultural policies in perspective, and gives an account of the economic structure of LDCs.
Glanmor Williams
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780192852786
- eISBN:
- 9780191670565
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780192852786.003.0003
- Subject:
- History, British and Irish Early Modern History
This chapter describes the social and economic structure of Wales which followed the Restoration in 1660. Welsh society attached considerable importance to rank, title, and birth. The social ...
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This chapter describes the social and economic structure of Wales which followed the Restoration in 1660. Welsh society attached considerable importance to rank, title, and birth. The social hierarchy was based on widely accepted social conventions, durable and extensive family ties, and, most important of all, wealth and the possession of land. It discusses significant social and economic changes in industry which acquired a greater degree of diversification. Entrepreneurs of wit and imagination had introduced advanced technical and scientific methods which helped to increase production. Internal and overseas trade also witnessed a period of modest expansion. The economy, bereft of large-scale capital, was still backward and underdeveloped. The majority of the population still lived at the subsistence level and was periodically burdened by harvest failures, local famines, and vicious assaults by infectious diseases.Less
This chapter describes the social and economic structure of Wales which followed the Restoration in 1660. Welsh society attached considerable importance to rank, title, and birth. The social hierarchy was based on widely accepted social conventions, durable and extensive family ties, and, most important of all, wealth and the possession of land. It discusses significant social and economic changes in industry which acquired a greater degree of diversification. Entrepreneurs of wit and imagination had introduced advanced technical and scientific methods which helped to increase production. Internal and overseas trade also witnessed a period of modest expansion. The economy, bereft of large-scale capital, was still backward and underdeveloped. The majority of the population still lived at the subsistence level and was periodically burdened by harvest failures, local famines, and vicious assaults by infectious diseases.
Wim Blockmans
- Published in print:
- 1999
- Published Online:
- October 2011
- ISBN:
- 9780198204022
- eISBN:
- 9780191676093
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198204022.003.0009
- Subject:
- History, Economic History
The endeavour of rulers to create a uniform, more centralized, state was as marked in the Low Countries in the later Middle Ages as it was in the neighbouring monarchies. This policy met with only ...
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The endeavour of rulers to create a uniform, more centralized, state was as marked in the Low Countries in the later Middle Ages as it was in the neighbouring monarchies. This policy met with only partial success. The administration of taxation in the Valois (and, later, Habsburg) territories in the Low Countries was partially unified from 1470 onwards, but after the 1520s the provinces reverted once again to their distinctive fiscal systems. The attempts of the central government to control the regional and local receivers were largely unsuccessful. Repeated proposals to introduce general systems of taxation, especially proportional taxes on trade and on capital, were aborted as a result of the opposition of representative institutions dominated by the large cities. Local and regional particularism, combined with a very low level of centralization, continued to characterize the two separate political and fiscal systems which emerged after the revolt of the Netherlands in the 1570s. This chapter examines regional differences within the Low Countries during the Middle Ages, with a view both to detecting the reasons for the long-term ‘failure’ of the central government and understanding the relationship of the economic structure to the fiscal system.Less
The endeavour of rulers to create a uniform, more centralized, state was as marked in the Low Countries in the later Middle Ages as it was in the neighbouring monarchies. This policy met with only partial success. The administration of taxation in the Valois (and, later, Habsburg) territories in the Low Countries was partially unified from 1470 onwards, but after the 1520s the provinces reverted once again to their distinctive fiscal systems. The attempts of the central government to control the regional and local receivers were largely unsuccessful. Repeated proposals to introduce general systems of taxation, especially proportional taxes on trade and on capital, were aborted as a result of the opposition of representative institutions dominated by the large cities. Local and regional particularism, combined with a very low level of centralization, continued to characterize the two separate political and fiscal systems which emerged after the revolt of the Netherlands in the 1570s. This chapter examines regional differences within the Low Countries during the Middle Ages, with a view both to detecting the reasons for the long-term ‘failure’ of the central government and understanding the relationship of the economic structure to the fiscal system.
Laura Hein
- Published in print:
- 2005
- Published Online:
- March 2012
- ISBN:
- 9780520243477
- eISBN:
- 9780520931572
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520243477.003.0006
- Subject:
- History, Asian History
In the 1950s, Ōuchi Hyōe's group was centrally involved in several policy debates over how to institutionalize higher standards of living for all Japanese. Most crucially, they were determined to ...
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In the 1950s, Ōuchi Hyōe's group was centrally involved in several policy debates over how to institutionalize higher standards of living for all Japanese. Most crucially, they were determined to reshape the economy rather than simply enlarge it. Thus, beginning with the 1946 plan they co-authored at the Ministry of Foreign Affairs, the Ōuchi group argued for changing the nature of capitalism in Japan so that both wealth and opportunity would be more evenly distributed among Japanese. The Ōuchi group emphasized new labor and social welfare policies and changes in consumer behavior. The theoretical issue behind the economists' concern was that of a dual economic structure, and Arisawa Hiromi is credited with coining the equivalent Japanese term, nijū kōzō. In the final analysis, Ōuchi and the others believed that an equitable economy could evolve out of rationalized and reformed capitalism.Less
In the 1950s, Ōuchi Hyōe's group was centrally involved in several policy debates over how to institutionalize higher standards of living for all Japanese. Most crucially, they were determined to reshape the economy rather than simply enlarge it. Thus, beginning with the 1946 plan they co-authored at the Ministry of Foreign Affairs, the Ōuchi group argued for changing the nature of capitalism in Japan so that both wealth and opportunity would be more evenly distributed among Japanese. The Ōuchi group emphasized new labor and social welfare policies and changes in consumer behavior. The theoretical issue behind the economists' concern was that of a dual economic structure, and Arisawa Hiromi is credited with coining the equivalent Japanese term, nijū kōzō. In the final analysis, Ōuchi and the others believed that an equitable economy could evolve out of rationalized and reformed capitalism.
Mark Robert Rank
- Published in print:
- 2004
- Published Online:
- April 2010
- ISBN:
- 9780195101683
- eISBN:
- 9780199894048
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195101683.001.0001
- Subject:
- Social Work, Social Policy
Despite its enormous wealth, the United States leads the industrialized world in poverty. One Nation, Underprivileged unravels this disturbing paradox by offering a different understanding of ...
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Despite its enormous wealth, the United States leads the industrialized world in poverty. One Nation, Underprivileged unravels this disturbing paradox by offering a different understanding of American poverty. It debunks many of Americans' most common myths about the poor, while at the same time providing a new framework for addressing this enormous social and economic problem. The author shows that the fundamental causes of poverty are to be found in America's economic structure and political policy failures, rather than individual shortcomings or attitudes. He establishes for the first time that a significant percentage of Americans will experience poverty during their adult lifetimes, and firmly demonstrates that poverty is an issue of vital national concern. Ultimately, the author provides the reader with a new paradigm for understanding poverty, and outlines a set of strategies that will reduce the phenomenon in America. One Nation, Underprivileged represents a starting point for rekindling a national focus upon America's most vexing social and economic problem.Less
Despite its enormous wealth, the United States leads the industrialized world in poverty. One Nation, Underprivileged unravels this disturbing paradox by offering a different understanding of American poverty. It debunks many of Americans' most common myths about the poor, while at the same time providing a new framework for addressing this enormous social and economic problem. The author shows that the fundamental causes of poverty are to be found in America's economic structure and political policy failures, rather than individual shortcomings or attitudes. He establishes for the first time that a significant percentage of Americans will experience poverty during their adult lifetimes, and firmly demonstrates that poverty is an issue of vital national concern. Ultimately, the author provides the reader with a new paradigm for understanding poverty, and outlines a set of strategies that will reduce the phenomenon in America. One Nation, Underprivileged represents a starting point for rekindling a national focus upon America's most vexing social and economic problem.
Edmund S. Phelps
- Published in print:
- 1990
- Published Online:
- November 2003
- ISBN:
- 9780198283331
- eISBN:
- 9780191596766
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198283334.003.0007
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter and the previous one review two schools of thought on the role of non‐monetary forces acting through non‐monetary channels in the generation of macroeconomic fluctuations. The subject in ...
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This chapter and the previous one review two schools of thought on the role of non‐monetary forces acting through non‐monetary channels in the generation of macroeconomic fluctuations. The subject in this chapter is the ‘structuralist school’, which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy. The structuralists offer a theory of a sort of real wage ‘rigidity’ in which a downward shock to labour demand forces a decrease in employment, thus an increase in unemployment. The structuralist school also points to a rich variety of operating assets used in production, such as customers and employees as well as plant and equipment, with the result that there no longer exists an aggregate production function to which the demand for labour is tightly connected.Less
This chapter and the previous one review two schools of thought on the role of non‐monetary forces acting through non‐monetary channels in the generation of macroeconomic fluctuations. The subject in this chapter is the ‘structuralist school’, which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy. The structuralists offer a theory of a sort of real wage ‘rigidity’ in which a downward shock to labour demand forces a decrease in employment, thus an increase in unemployment. The structuralist school also points to a rich variety of operating assets used in production, such as customers and employees as well as plant and equipment, with the result that there no longer exists an aggregate production function to which the demand for labour is tightly connected.
Carsten Herrmann-Pillath
- Published in print:
- 2019
- Published Online:
- March 2019
- ISBN:
- 9780198829911
- eISBN:
- 9780191868368
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198829911.003.0028
- Subject:
- Political Science, Comparative Politics
This chapter approaches China’s sequence of transformations in the ‘short’ twentieth century between the collapse of empire 1911 and World Trade Organization entry in 2001 against the background of ...
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This chapter approaches China’s sequence of transformations in the ‘short’ twentieth century between the collapse of empire 1911 and World Trade Organization entry in 2001 against the background of discussing the nature of the Imperial from which this arduous and violent process started out. During that period, immense political efforts were directed at tackling the perceived legacy of social and cultural impediments to economic modernization and building national strength, though with radically different means, such as switching from Maoism to reform policies in 1978. The chapter analyses core features of change such as the role of the rural sector, the weak penetration of society by formal bureaucratic institutions of the state, and the interaction between institutional change and transformation of social structure. After detailing major aspects of recent economic reforms, the key conclusion is that throughout the twentieth century until present times, economic transformation remains inextricably intertwined with the secular process of modern state building.Less
This chapter approaches China’s sequence of transformations in the ‘short’ twentieth century between the collapse of empire 1911 and World Trade Organization entry in 2001 against the background of discussing the nature of the Imperial from which this arduous and violent process started out. During that period, immense political efforts were directed at tackling the perceived legacy of social and cultural impediments to economic modernization and building national strength, though with radically different means, such as switching from Maoism to reform policies in 1978. The chapter analyses core features of change such as the role of the rural sector, the weak penetration of society by formal bureaucratic institutions of the state, and the interaction between institutional change and transformation of social structure. After detailing major aspects of recent economic reforms, the key conclusion is that throughout the twentieth century until present times, economic transformation remains inextricably intertwined with the secular process of modern state building.
- Published in print:
- 2008
- Published Online:
- March 2013
- ISBN:
- 9780226560120
- eISBN:
- 9780226560144
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226560144.003.0004
- Subject:
- History, American History: 20th Century
This chapter focuses on the launch of the local economic planning program and the War on Poverty to address employment problems in Philadelphia in the 1950s. It explains that federal anti-poverty ...
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This chapter focuses on the launch of the local economic planning program and the War on Poverty to address employment problems in Philadelphia in the 1950s. It explains that federal anti-poverty groups assumed that in a high-growth macroeconomic environment, job training could reduce poverty by improving individual skills and changing behavioral characteristics without addressing the structure of the economy. The chapter also highlights the Opportunities Industrialization Centers' rejection of the central premise of postwar manpower policy and expanded its reach to include questions of economic structure and security. It also explains some of the reasons behind the failure of both programs.Less
This chapter focuses on the launch of the local economic planning program and the War on Poverty to address employment problems in Philadelphia in the 1950s. It explains that federal anti-poverty groups assumed that in a high-growth macroeconomic environment, job training could reduce poverty by improving individual skills and changing behavioral characteristics without addressing the structure of the economy. The chapter also highlights the Opportunities Industrialization Centers' rejection of the central premise of postwar manpower policy and expanded its reach to include questions of economic structure and security. It also explains some of the reasons behind the failure of both programs.
James I. Charlton
- Published in print:
- 1998
- Published Online:
- May 2012
- ISBN:
- 9780520207950
- eISBN:
- 9780520925441
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520207950.003.0003
- Subject:
- Anthropology, Medical Anthropology
This chapter notes that the idea that people with disabilities are powerless and poor is uncontestable. Every socioeconomic indicator says so. That the vast majority of people with disabilities are ...
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This chapter notes that the idea that people with disabilities are powerless and poor is uncontestable. Every socioeconomic indicator says so. That the vast majority of people with disabilities are poor, without many of the basic necessities to live a full and independent life, is primarily a function of class. Political-economic, cultural, family, gender, racial, ideological, religious, and legal structures are all interdependent. The political-economic structure, though, tends to position people, groups, belief systems, social structures, and ideologies in relation to each other. In terms of oppression, it is both a producer and product of systems of domination and subordination and of ideologies of superiority and inferiority.Less
This chapter notes that the idea that people with disabilities are powerless and poor is uncontestable. Every socioeconomic indicator says so. That the vast majority of people with disabilities are poor, without many of the basic necessities to live a full and independent life, is primarily a function of class. Political-economic, cultural, family, gender, racial, ideological, religious, and legal structures are all interdependent. The political-economic structure, though, tends to position people, groups, belief systems, social structures, and ideologies in relation to each other. In terms of oppression, it is both a producer and product of systems of domination and subordination and of ideologies of superiority and inferiority.
Daniel W. Drezner
- Published in print:
- 2017
- Published Online:
- January 2018
- ISBN:
- 9781501709180
- eISBN:
- 9781501712777
- Item type:
- chapter
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9781501709180.003.0004
- Subject:
- Political Science, Asian Politics
This chapter analyzes the impact of the rise of the Chinese economy on the international economic structure. While looking at the rapid growth of the Chinese economy, analysis reveals that China has ...
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This chapter analyzes the impact of the rise of the Chinese economy on the international economic structure. While looking at the rapid growth of the Chinese economy, analysis reveals that China has yet to challenge the United States as the anchor of the global financial system: the renminbi remains negligible in international financial transactions. Indeed, since the 2007–8 global financial crisis, the U.S. dollar has expanded its importance relative to the renminbi in global finance. The chapter suggests that the renminbi is far from becoming a significant international reserve currency and that the United States will continue to dominate the regional financial order. In trade relations, however, the chapter establishes the significant importance of the Chinese market for economies throughout East Asia.Less
This chapter analyzes the impact of the rise of the Chinese economy on the international economic structure. While looking at the rapid growth of the Chinese economy, analysis reveals that China has yet to challenge the United States as the anchor of the global financial system: the renminbi remains negligible in international financial transactions. Indeed, since the 2007–8 global financial crisis, the U.S. dollar has expanded its importance relative to the renminbi in global finance. The chapter suggests that the renminbi is far from becoming a significant international reserve currency and that the United States will continue to dominate the regional financial order. In trade relations, however, the chapter establishes the significant importance of the Chinese market for economies throughout East Asia.
Stephen Wilson
- Published in print:
- 1984
- Published Online:
- February 2021
- ISBN:
- 9780197100523
- eISBN:
- 9781800340992
- Item type:
- chapter
- Publisher:
- Liverpool University Press
- DOI:
- 10.3828/liverpool/9780197100523.003.0010
- Subject:
- Religion, Judaism
This chapter discusses economic antisemitism. Many contemporaries explained the revival of antisemitism as a primarily economic phenomenon, as a means by which rational economic interests were ...
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This chapter discusses economic antisemitism. Many contemporaries explained the revival of antisemitism as a primarily economic phenomenon, as a means by which rational economic interests were defended or pursued. Henri Maret, director of Le Racial, argues that the characteristics of contemporary antisemitism were “incontestably economic. People do not detest the Jews because they belong to a different race or to a different religion, but quite simply because it is believed that they are accumulating wealth, and this is coveted.” Many features of the antisemitism of the period confirm the validity of this economic interpretation. Antisemites very often directed their attacks against Jews as the agents of capitalism, as bankers, speculators, and monopolists. More generally, “Jewish domination” was held to be responsible for the general economic crisis of the later decades of the nineteenth century, and for long-term changes in economic structure. Despite all this, however, analysis of antisemitic ideology and action suggests that it was a reaction to economic phenomena of a less rational kind than the simplistic psychology of some contemporary observers assumed.Less
This chapter discusses economic antisemitism. Many contemporaries explained the revival of antisemitism as a primarily economic phenomenon, as a means by which rational economic interests were defended or pursued. Henri Maret, director of Le Racial, argues that the characteristics of contemporary antisemitism were “incontestably economic. People do not detest the Jews because they belong to a different race or to a different religion, but quite simply because it is believed that they are accumulating wealth, and this is coveted.” Many features of the antisemitism of the period confirm the validity of this economic interpretation. Antisemites very often directed their attacks against Jews as the agents of capitalism, as bankers, speculators, and monopolists. More generally, “Jewish domination” was held to be responsible for the general economic crisis of the later decades of the nineteenth century, and for long-term changes in economic structure. Despite all this, however, analysis of antisemitic ideology and action suggests that it was a reaction to economic phenomena of a less rational kind than the simplistic psychology of some contemporary observers assumed.
Simon Guy and John Henneberry
- Published in print:
- 2004
- Published Online:
- March 2012
- ISBN:
- 9781861344458
- eISBN:
- 9781447301868
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781861344458.003.0012
- Subject:
- Sociology, Urban and Rural Studies
This chapter examines the ways in which decision-making processes in the property market affect the shape and distribution of investment in different property markets across Great Britain. It ...
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This chapter examines the ways in which decision-making processes in the property market affect the shape and distribution of investment in different property markets across Great Britain. It identifies the economic and social structures within the wider property market, and explores the way that they interact to produce property-market trends. The chapter evaluates how the capacity of local development agents and business actors to negotiate different responses within wider market structures varies between cities and regions, and examines the terms of engagement of urban policy with local property development in different urban contexts.Less
This chapter examines the ways in which decision-making processes in the property market affect the shape and distribution of investment in different property markets across Great Britain. It identifies the economic and social structures within the wider property market, and explores the way that they interact to produce property-market trends. The chapter evaluates how the capacity of local development agents and business actors to negotiate different responses within wider market structures varies between cities and regions, and examines the terms of engagement of urban policy with local property development in different urban contexts.
