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We live in an age of serial asset bubbles and spectacular busts. Economists, policymakers, central bankers and most people in the financial world have been blindsided by these busts, while investors have lost trillions. Economists argue that bubbles can only be…

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This book provides a comprehensive survey of the major developments in monetary theory and policy from David Hume and Adam Smith to Walter Bagehot and Knut Wicksell. In particular, it seeks to explain why it took so long for a theory of central banking to…
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The economy uncertain, education in decline, cities under siege, crime and poverty spiraling upward, international relations roiling: we look to leaders for solutions, and when they don't deliver, we simply add their failure to our list of woes. In doing do, we…

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The collapse that began in 2008 continues to burden the world economy. David Kotz, one of the few academic economists to predict it, argues that the ongoing crisis is not simply the aftermath of financial panic and severe recession but is a structural crisis of…

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The Millennium Development Goals have recently passed their review deadline and the international community is consequently beginning to debate the future of the United Nations development policy. As a result, a new academic critique of the subject is essential.…

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For businesses large and small, investment in digital technologies is now a priority essential for success. Digitizing Government provides practical advice for understanding and implementing digital transformation to increase business value and improve client…

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Che Guevara is an iconic figure, four decades after his death. Yet his most significant contribution is largely unknown--his work as a member of the Cuban government is rarely discussed. This book explores his impact…

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Adonis Yatchew provides simple and flexible (nonparametric) techniques for analyzing regression data. He includes a series of empirical examples with the estimation of Engel curves and equivalence scales, scale economies, household gasoline consumption, housing…
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The aim of this book is to make more widely available a body of recent research activity that has become known as applied general equilibrium analysis. The central idea underlying this work is to convert the Walrasian general equilibrium structure (formalized in…