In recent years central bankers have placed new emphasis on communication with financial markets and the general public. They have done this not only through the traditional channel of monetary policy pronouncements but also by increasing the quantity of information they make public. Yet as central banks strive to provide more and clearer information about the outlook for the economy, they must balance their capacity to steer economic expectations with their natural caution about committing to future monetary policy paths.
Late nineteenth-century Britain saw an extraordinary surge in patent disputes over the new technologies of electrical power, lighting, telephony, and radio. These battles played out in the twin tribunals of the courtroom and the press. In Patently Contestable, Stathis Arapostathis and Graeme Gooday examine how Britain’s patent laws and associated cultures changed from the 1870s to the 1920s. They consider how patent rights came to be so widely disputed and how the identification of apparently solo heroic inventors was the contingent outcome of patent litigation.
Running since 1997 and continuing today, the Townsend Thai Project has tracked millions of observations about the economic activities of households and institutions in rural and urban Thailand. The project represents one of the most extensive datasets in the developing world. Chronicles from the Field offers an account of the design and implementation of this unique panel data survey.
Public economics studies how government taxing and spending activities affect the economy—economic efficiency and the distribution of income and wealth. This comprehensive text on public economics covers the core topics of market failure and taxation as well as recent developments in both policy and the academic literature. It is unique not only in its broad scope but in its balance between public finance and public choice and its combination of theory and relevant empirical evidence.
Many developing countries find it difficult to raise the revenue required to provide such basic public services as education, health care, and infrastructure. Complicating the policy challenges of taxation in developing countries are issues that most developed countries do not face, including widespread corruption, tax evasion and tax avoidance, and ineffective political structures. In this volume, experts investigate crucial challenges confronted by developing countries in raising revenue.
In Giving Kids a Fair Chance, Nobel Prize-winning economist James Heckman argues that the accident of birth is the greatest source of inequality in America today. Children born into disadvantage are, by the time they start kindergarten, already at risk of dropping out of school, teen pregnancy, crime, and a lifetime of low-wage work. This is bad for all those born into disadvantage and bad for American society.
McDonald’s promises to use only beef, coffee, fish, chicken, and cooking oil obtained from sustainable sources. Coca-Cola promises to achieve water neutrality. Unilever has set a deadline of 2020 to reach 100 percent sustainable agricultural sourcing. Walmart has pledged to become carbon neutral. Today, big-brand companies seem to be making commitments that go beyond the usual “greenwashing” efforts undertaken largely for public relations purposes.
The assembly line was invented in 1913 and has been in continuous operation ever since. It is the most familiar form of mass production. Both praised as a boon to workers and condemned for exploiting them, it has been celebrated and satirized. (We can still picture Chaplin’s little tramp trying to keep up with a factory conveyor belt.) In America’s Assembly Line, David Nye examines the industrial innovation that made the United States productive and wealthy in the twentieth century.
Over the last few years, the financial sector has experienced its worst crisis since the 1930s. The collapse of major firms, the decline in asset values, the interruption of credit flows, the loss of confidence in firms and credit market instruments, the intervention by governments and central banks: all were extraordinary in scale and scope. In this book, leading economists Randall Kroszner and Robert Shiller discuss what the United States should do to prevent another such financial meltdown.