The Republic of Beliefs


Book Description

"[This book] argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, most important, considering that laws are simply words on paper, why are they effective? Basu offers a provocative alternative to how the relationship between economics and real-world law enforcement should be understood. Basu summarizes standard, neoclassical law and economics before looking at the weaknesses underlying the discipline. Bringing modern game theory to bear, he develops a 'focal point' approach, modeling not just the self-interested actions of the citizens who must follow laws but also the functionaries of the state: the politicians, judges, and bureaucrats enforcing them. He demonstrates the connections between social norms and the law and shows how well conceived ideas can change and benefit human behavior. For example, bribe givers and takers will collude when they are treated equally under the law. And in food support programs, vouchers should be given directly to the poor to prevent shop owners from selling subsidized rations on the open market. Basu provides a new paradigm for the ways that law and economics interact: a framework applicable to both less developed countries and the developed world"--Jacket.




The Republic of Beliefs


Book Description

A leading economist offers a radically new approach to the economic analysis of the law In The Republic of Beliefs, Kaushik Basu, one of the world's leading economists, argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, most important, considering that laws are simply words on paper, why are they effective? Basu offers a provocative alternative for how the relationship between economics and real-world law enforcement can be understood. Basu summarizes standard, neoclassical law and economics before looking at the weaknesses underlying the discipline. Bringing modern game theory to bear, he develops a "focal point" approach, modeling not just the self-interested actions of the citizens who must follow laws but also the functionaries of the state—the politicians, judges, and bureaucrats—enforcing them. He demonstrates the connections between social norms and the law and shows how well-conceived ideas can change and benefit human behavior. For example, bribe givers and takers will collude when they are treated equally under the law. And in food support programs, vouchers should be given directly to the poor to prevent shop owners from selling subsidized rations on the open market. Basu provides a new paradigm for the ways that law and economics interact—a framework applicable to both less-developed countries and the developed world. Highlighting the limits and capacities of law and economics, The Republic of Beliefs proposes a fresh way of thinking that will enable more effective laws and a fairer society.




The Republic of Beliefs


Book Description

A leading economist offers a radically new approach to the economic analysis of the law In The Republic of Beliefs, Kaushik Basu, one of the world's leading economists, argues that the traditional economic analysis of the law has significant flaws and has failed to answer certain critical questions satisfactorily. Why are good laws drafted but never implemented? When laws are unenforced, is it a failure of the law or the enforcers? And, most important, considering that laws are simply words on paper, why are they effective? Basu offers a provocative alternative to how the relationship between economics and real-world law enforcement should be understood. Basu summarizes standard, neoclassical law and economics before looking at the weaknesses underlying the discipline. Bringing modern game theory to bear, he develops a "focal point" approach, modeling not just the self-interested actions of the citizens who must follow laws but also the functionaries of the state—the politicians, judges, and bureaucrats—enforcing them. He demonstrates the connections between social norms and the law and shows how well-conceived ideas can change and benefit human behavior. For example, bribe givers and takers will collude when they are treated equally under the law. And in food support programs, vouchers should be given directly to the poor to prevent shop owners from selling subsidized rations on the open market. Basu provides a new paradigm for the ways that law and economics interact—a framework applicable to both less-developed countries and the developed world. Highlighting the limits and capacities of law and economics, The Republic of Beliefs proposes a fresh way of thinking that will enable more effective laws and a fairer society.




Reforging the White Republic


Book Description

During Reconstruction, former abolitionists in the North had a golden opportunity to pursue true racial justice and permanent reform in America. But after the sacrifice made by thousands of Union soldiers to arrive at this juncture, the moment soon slipped away, leaving many whites throughout the North and South more racist than before. Edward J. Blum takes a fresh look at the reasons for this failure in Reforging the White Republic, focusing on the vital role that religion played in reunifying northern and southern whites into a racially segregated society. A blend of history and social science, Reforging the White Republic offers a surprising perspective on the forces of religion as well as nationalism and imperialism at a critical point in American history.




This Republic of Suffering


Book Description

NATIONAL BESTSELLER • NATIONAL BOOK AWARD FINALIST • An "extraordinary ... profoundly moving" history (The New York Times Book Review) of the American Civil War that reveals the ways that death on such a scale changed not only individual lives but the life of the nation. An estiated 750,000 soldiers lost their lives in the American Civil War. An equivalent proportion of today's population would be seven and a half million. In This Republic of Suffering, Drew Gilpin Faust describes how the survivors managed on a practical level and how a deeply religious culture struggled to reconcile the unprecedented carnage with its belief in a benevolent God. Throughout, the voices of soldiers and their families, of statesmen, generals, preachers, poets, surgeons, nurses, northerners and southerners come together to give us a vivid understanding of the Civil War's most fundamental and widely shared reality. With a new introduction by the author, and a new foreword by Mike Mullen, 17th Chairman of the Joint Chiefs of Staff.




A Republic of Mind and Spirit


Book Description

In the nineteenth and early twentieth centuries, Mexicans and Americans joined together to transform the U.S.-Mexico borderlands into a crossroads of modern economic development. This book reveals the forgotten story of their ambitious dreams and their ultimate failure to control this fugitive terrain. Focusing on a mining region that spilled across the Arizona-Sonora border, this book shows how entrepreneurs, corporations, and statesmen tried to domesticate nature and society within a transnational context. Efforts to tame a 'wild' frontier were stymied by labour struggles, social conflict, and revolution. Fugitive Landscapes explores the making and unmaking of the U.S.-Mexico border, telling how ordinary people resisted the domination of empires, nations, and corporations to shape transnational history on their own terms. By moving beyond traditional national narratives, it offers new lessons for our own border-crossing age.




A Crisis of Beliefs


Book Description

How investor expectations move markets and the economy The collapse of Lehman Brothers in September 2008 caught markets and regulators by surprise. Although the government rushed to rescue other financial institutions from a similar fate after Lehman, it could not prevent the deepest recession in postwar history. A Crisis of Beliefs makes us rethink the financial crisis and the nature of economic risk. In this authoritative and comprehensive book, two of today’s most insightful economists reveal how our beliefs shape financial markets, lead to expansions of credit and leverage, and expose the economy to major risks. Nicola Gennaioli and Andrei Shleifer carefully walk readers through the unraveling of Lehman Brothers and the ensuing meltdown of the US financial system, and then present new evidence to illustrate the destabilizing role played by the beliefs of home buyers, investors, and regulators. Using the latest research in psychology and behavioral economics, they present a new theory of belief formation that explains why the financial crisis came as such a shock to so many people—and how financial and economic instability persist. A must-read for anyone seeking insights into financial markets, A Crisis of Beliefs shows how even the smartest market participants and regulators did not fully appreciate the extent of economic risk, and offers a new framework for understanding today’s unpredictable financial waters.




Evangelicals Incorporated


Book Description

A new history explores the commercial heart of evangelical Christianity. American evangelicalism is big business. For decades, the world’s largest media conglomerates have sought out evangelical consumers, and evangelical books have regularly become international best sellers. In the early 2000s, Rick Warren’s The Purpose Driven Life spent ninety weeks on the New York Times Best Sellers list and sold more than thirty million copies. But why have evangelicals achieved such remarkable commercial success? According to Daniel Vaca, evangelicalism depends upon commercialism. Tracing the once-humble evangelical book industry’s emergence as a lucrative center of the US book trade, Vaca argues that evangelical Christianity became religiously and politically prominent through business activity. Through areas of commerce such as branding, retailing, marketing, and finance, for-profit media companies have capitalized on the expansive potential of evangelicalism for more than a century. Rather than treat evangelicalism as a type of conservative Protestantism that market forces have commodified and corrupted, Vaca argues that evangelicalism is an expressly commercial religion. Although religious traditions seem to incorporate people who embrace distinct theological ideas and beliefs, Vaca shows, members of contemporary consumer society often participate in religious cultures by engaging commercial products and corporations. By examining the history of companies and corporate conglomerates that have produced and distributed best-selling religious books, bibles, and more, Vaca not only illustrates how evangelical ideas, identities, and alliances have developed through commercial activity but also reveals how the production of evangelical identity became a component of modern capitalism.




What We Owe Each Other


Book Description

From one of the leading policy experts of our time, an urgent rethinking of how we can better support each other to thrive Whether we realize it or not, all of us participate in the social contract every day through mutual obligations among our family, community, place of work, and fellow citizens. Caring for others, paying taxes, and benefiting from public services define the social contract that supports and binds us together as a society. Today, however, our social contract has been broken by changing gender roles, technology, new models of work, aging, and the perils of climate change. Minouche Shafik takes us through stages of life we all experience—raising children, getting educated, falling ill, working, growing old—and shows how a reordering of our societies is possible. Drawing on evidence and examples from around the world, she shows how every country can provide citizens with the basics to have a decent life and be able to contribute to society. But we owe each other more than this. A more generous and inclusive society would also share more risks collectively and ask everyone to contribute for as long as they can so that everyone can fulfill their potential. What We Owe Each Other identifies the key elements of a better social contract that recognizes our interdependencies, supports and invests more in each other, and expects more of individuals in return. Powerful, hopeful, and thought-provoking, What We Owe Each Other provides practical solutions to current challenges and demonstrates how we can build a better society—together.




Understanding Plato's Republic


Book Description

Understanding Plato’s Republic is an accessible introduction to the concepts of justice that inform Plato’s Republic, elucidating the ancient philosopher's main argument that we would be better off leading just lives rather than unjust ones Provides a much needed up to date discussion of The Republic's fundamental ideas and Plato's main argument Discusses the unity and coherence of The Republic as a whole Written in a lively style, informed by over 50 years of teaching experience Reveals rich insights into a timeless classic that holds remarkable relevance to the modern world