Regulation and Economic Analysis


Book Description

Regulation and Economic Analysis: A Critique Over Two Centuries argues that long experience with the practice of regulation creates a broad anti-intervention consensus among economists. This consensus is based on comparison of real intervention to real markets rather than an ideological preconception. It is shown that economic theory can support all possible positions on intervention. Much theory is too abstract to support any policy position; many arguments about how intervention might help contain qualifications expressing doubts about whether the potential can be realized; many theories illustrate the drawbacks of intervention. The vast literature on these issues concentrates either on specific cases or polemics that exaggerate both sides of the argument. Regulation and Economic Analysis seeks to show the depth of the discontent, develop interpretations of economic theory that follow from skepticism about statism and provide selected illustrations. The discussion begins with examination of general equilibrium theory and proceeds to discuss market failure with stress on monopoly and particularly what is deemed excessive concern with predatory behavior. International trade issues, transaction costs, property rights, economic theories of government, the role of special institutions such as contracts, the defects of macroeconomic and equity arguments for regulating individual markets, environmental economics and the defects of public land management policies are examined.




The Collected Scientific Papers of Paul A. Samuelson


Book Description

It is a measure of Professor Samuelson's preeminence that the sheer scale of his work should be so much taken for granted, observes a reviewer in the Economist who goes on to note that a cynic might add that it would have been better for Professor Samuelson to write less merely to give others a chance to write at all.These volumes contain virtually all of Professor Paul A. Samuelson's contributions to economic theory through mid-1964 - a total of 129 papers. Included are his classic articles on such topics as revealed preference, factor-price equalization, and public goods; as well as some articles which until now have only been privately circulated or "buried" in Festschriften, such as "Market Mechanisms and Maximization" and "The Structure of a Minimum Equilibrium System." The articles have been grouped together into five books, compiled in two volumes. The books, in turn have been divided into sections, each of which contains articles on the same or closely related topics. Within the sections the articles are arranged chronologically. The graduate student and professional economist will welcome The Collected Scientific Papers of Paul A. Samuelson as a valuable addition to their libraries.




The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes


Book Description

History comes alive in this fascinating story of opposing views that continue to play a fundamental role in today's politics and economics. "The Big Three in Economics" traces the turbulent lives and battle of ideas of the three most influential economists in world history: Adam Smith, representing laissez faire; Karl Marx, reflecting the radical socialist model; and John Maynard Keynes, symbolizing big government and the welfare state. Each view has had a significant influence on shaping the modern world, and the book traces the development of each philosophy through the eyes of its creator. In the twenty-first century, Adam Smith's "invisible hand" model has gained the upper hand, and capitalism appears to have won the battle of ideas over socialism and interventionism. But author Mark Skousen shows that, even in the era of globalization and privatization, Keynesian and Marxian ideas continue to play a significant role in economic policy.




Economic Policy and Inflation in the United States


Book Description

Pamphlet on economic policy and inflation in the USA - comments on legislation and discusses developments since the enactment of the employment act of 1946 through 1974. Statistical tables.




The Welfare State and Equality


Book Description

Monograph on the determinants of public expenditure for social security and welfare in affluent societys - explores the interplay of affluence, economic system, political system and welfare state ideology, and considers the effect of social structure on divergent spending patterns, particularly in the OECD countries. Bibliography pp. 139 to 147.




Monthly Labor Review


Book Description

Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.




Accessions List


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Author and Title Catalog


Book Description







In the Shadow of the Garrison State


Book Description

War--or the threat of war--usually strengthens states as governments tax, draft soldiers, exert control over industrial production, and dampen internal dissent in order to build military might. The United States, however, was founded on the suspicion of state power, a suspicion that continued to gird its institutional architecture and inform the sentiments of many of its politicians and citizens through the twentieth century. In this comprehensive rethinking of postwar political history, Aaron Friedberg convincingly argues that such anti-statist inclinations prevented Cold War anxieties from transforming the United States into the garrison state it might have become in their absence. Drawing on an array of primary and secondary sources, including newly available archival materials, Friedberg concludes that the "weakness" of the American state served as a profound source of national strength that allowed the United States to outperform and outlast its supremely centralized and statist rival: the Soviet Union. Friedberg's analysis of the U. S. government's approach to taxation, conscription, industrial planning, scientific research and development, and armaments manufacturing reveals that the American state did expand during the early Cold War period. But domestic constraints on its expansion--including those stemming from mean self-interest as well as those guided by a principled belief in the virtues of limiting federal power--protected economic vitality, technological superiority, and public support for Cold War activities. The strategic synthesis that emerged by the early 1960s was functional as well as stable, enabling the United States to deter, contain, and ultimately outlive the Soviet Union precisely because the American state did not limit unduly the political, personal, and economic freedom of its citizens. Political scientists, historians, and general readers interested in Cold War history will value this thoroughly researched volume. Friedberg's insightful scholarship will also inspire future policy by contributing to our understanding of how liberal democracy's inherent qualities nurture its survival and spread.