The Uses and Abuses of Economics


Book Description

Terence Hutchison has made a unique contribution to debates in the history of economic thought and in economic methodology. The material collected here - much of which is appearing for the first time - includes some of the most significant and provocative parts of this contribution. Working from the principle that an idea that offends no one is not worth entertaining, the essays selected here offer a major reinterpretation of what has been called `the Smithian Revolution', and especially of Ricardo, plus a re-assessment of subjectivism and the methodology of the Austrian school.




The Uses and Abuses of Economics


Book Description




The Uses and Abuses of Weaponized Interdependence


Book Description

" How globalized information networks can be used for strategic advantage Until recently, globalization was viewed, on balance, as an inherently good thing that would benefit people and societies nearly everywhere.Now there is growing concern that some countries will use their position in globalized networks to gain undue influence over other societies through their dominance of information and financial networks, a concept known as “weaponized interdependence.” In exploring the conditions under which China, Russia, and the United States might be expected to weaponize control of information and manipulate the global economy, the contributors to this volume challenge scholars and practitioners to think differently about foreign economic policy, national security, and statecraft for the twenty-first century. The book addresses such questions as: What areas of the global economy are most vulnerable to unilateral control of informationand financial networks? How sustainable is the use of weaponized interdependence? What are the possible responses from targeted actors? And how sustainable is the open global economy if weaponized interdependence becomes a default tool for managing international relations? "







The Uses and Abuses of Economics


Book Description

Terence Hutchison has made a unique contribution to debates in the history of economic thought and in economic methodology. The material collected here - much of which is appearing for the first time - includes some of the most significant and provocative parts of this contribution. Working from the principle that an idea that offends no one is not worth entertaining, the essays selected here offer a major reinterpretation of what has been called `the Smithian Revolution', and especially of Ricardo, plus a re-assessment of subjectivism and the methodology of the Austrian school.




The Political Economy of Wasta: Use and Abuse of Social Capital Networking


Book Description

The term ‘wasta stems from the Arabic root for ‘middle’ or ‘medium’ and describes the phenomenon of using ‘connections’ to find job, government services or other favors to circumvent bureaucracy or bypass the system as a whole. The effects of ‘wasta’ may be both positive or negative, and is not a phenomenon that is particular to the Arab or Muslim world, but also to many other cultures and regions of the world, with similar concepts popularly known as ubuntu, guanxi, harambee, naoberschop, or “old boy network” used in African, Chinese and European societies. By its very nature ‘wasta’ is an area of grey or even black information, and, like corruption to which it is most often associated, is hard to assess although country corruption perception indexes attempt to provide a quantifiable basis. In the final analysis such ratings are based on perceptions of corruption, and this perception may vary strongly depending on different societal structures and cultural modes, whether these are extended family systems, tribal, clans or more atomized societies where relationships are essentially transactional and rule based. In a western perspective where ‘wasta’ may be considered as a form of corruption, in other societies it may be perceived as something ‘natural’ and not criminal, and using one's ‘wasta’ in tribal societies to help clan members is seen as a duty. The difference stems from the 'innocent ' use of ‘wasta’ to make introductions, as opposed to its abuse in placing unqualified persons in positions .The volume brings together academics and professional experts to examine a range of multi-faceted social, economic and political issues raised by the use and abuse of social networking, covering various topics like: ‘wasta’ interpersonal connections in family and business ties, The relationship between inequality-adjusted human development and corruption perception indexes in the Gulf region, ‘wasta’ and business networking, assessing the economic cost of ‘wasta’, ‘wasta’ and its impact on quality oriented education reform and the perceptions of young people, The use of ‘wasta’ to overcome socio-cultural barriers for women and men The volume also offers insights into social relations and ethics, and how the use of ‘wasta’ contradicts with common held religious principles, along with some country studies on Islamic principles and the use of ‘wasta’. Mohamed Ramady is a Visiting Associate Professor, King Fahd University of Petroleum and Minerals, Saudi Arabia.













The Economic Analysis of Substance Use and Abuse


Book Description

Conventional wisdom once held that the demand for addictive substances like cigarettes, alcohol, and drugs was unlike that for any other economic good and, therefore, unresponsive to traditional market forces. Recently, however, researchers from two disparate fields, economics and behavioral psychology, have found that increases in the overall price of an addictive substance can significantly reduce both the number of users and the amounts those users consume. Changes in the "full price" of addictive substances—including monetary value, time outlay, effort to obtain, and potential penalties for illegal use—yield marked variations in behavioral outcomes and demand. The Economic Analysis of Substance Use and Abuse brings these distinctive fields of study together and presents for the first time an integrated assessment of their data and results. Unique and innovative, this multidisciplinary volume will serve as an important resource in the current debates concerning alcohol and drug use and abuse and the impacts of legalizing illicit drugs.