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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.
During the nineteenth century, the United States entered the ranks of the world's most advanced and dynamic economies. At the same time, the nation sustained an expansive and brutal system of human bondage. This was no mere coincidence. Slavery's Capitalism argues for slavery's centrality to the emergence of American capitalism in the decades between the Revolution and the Civil War. According to editors Sven Beckert and Seth Rockman, the issue is not whether slavery itself was or was not capitalist but, rather, the impossibility of understanding the nation's spectacular pattern of economic development without situating slavery front and center. American capitalism—renowned for its celebration of market competition, private property, and the self-made man—has its origins in an American slavery predicated on the abhorrent notion that human beings could be legally owned and compelled to work under force of violence. Drawing on the expertise of sixteen scholars who are at the forefront of rewriting the history of American economic development, Slavery's Capitalism identifies slavery as the primary force driving key innovations in entrepreneurship, finance, accounting, management, and political economy that are too often attributed to the so-called free market. Approaching the study of slavery as the originating catalyst for the Industrial Revolution and modern capitalism casts new light on American credit markets, practices of offshore investment, and understandings of human capital. Rather than seeing slavery as outside the institutional structures of capitalism, the essayists recover slavery's importance to the American economic past and prompt enduring questions about the relationship of market freedom to human freedom. Contributors: Edward E. Baptist, Sven Beckert, Daina Ramey Berry, Kathryn Boodry, Alfred L. Brophy, Stephen Chambers, Eric Kimball, John Majewski, Bonnie Martin, Seth Rockman, Daniel B. Rood, Caitlin Rosenthal, Joshua D. Rothman, Calvin Schermerhorn, Andrew Shankman, Craig Steven Wilder.
Winner of the American Sociological Association PEWS Award (1995) for Distinguished Scholarship The Long Twentieth Century traces the epochal shifts in the relationship between capital accumulation and state formation over a 700-year period. Giovanni Arrighi masterfully synthesizes social theory, comparative history and historical narrative in this account of the structures and agencies which have shaped the course of world history over the millennium. Borrowing from Braudel, Arrighi argues that the history of capitalism has unfolded as a succession of "long centuries"—ages during which a hegemonic power deploying a novel combination of economic and political networks secured control over an expanding world-economic space. The modest beginnings, rise and violent unravel-ing of the links forged between capital, state power, and geopolitics by hegemonic classes and states are explored with dramatic intensity. From this perspective, Arrighi explains the changing fortunes of Florentine, Venetian, Genoese, Dutch, English, and finally American capitalism. The book concludes with an examination of the forces which have shaped and are now poised to undermine America's world power.
In this provocative and intricate analysis of the postbellum southern economy, Gavin Wright finds in the South’s peculiar labor market the answer to the perennial question of why the region remained backward for so long. After the Civil War, Wright explains, the South continued to be a low-wage regional market embedded in a high-wage national economy. He vividly details the origins, workings, and ultimate demise of that distinct system. The post-World War II southern economy, which created today’s Sunbelt, Wright shows, is not the result of the evolution of the old system, but the product of a revolution brought on by the New Deal and World War II that shattered the South’s stagnant structure and created a genuinely new, thriving order.
Samuel Beckett, the recipient of the 1969 Nobel Prize for Literature and one of the greatest writers of our century, first published these ten short stories in 1934; they originally formed part of an unfinished novel. They trace the career of the first of Beckett’s antiheroes, Belacqua Shuah. Belacqua is a student, a philanderer, and a failure, and Beckett portrays the various aspects of his troubled existence: he studies Dante, attempts an ill-fated courtship, witnesses grotesque incidents in the streets of Dublin, attends vapid parties, endures his marriage, and meets his accidental death. These early stories point to the qualities of precision, restraint, satire, and poetry found in Beckett’s mature works, and reveal the beginning stages of Beckett’s underlying theme of bewilderment in the face of suffering.
Analysis of Latin America's economy focusing on development, covering the colonial roots of inequality, boom and bust cycles, labor markets, and fiscal and monetary policy. Latin America is richly endowed with natural resources, fertile land, and vibrant cultures. Yet the region remains much poorer than its neighbors to the north. Most Latin American countries have not achieved standards of living and stable institutions comparable to those found in developed countries, have experienced repeated boom-bust cycles, and remain heavily reliant on primary commodities. This book studies the historical roots of Latin America's contemporary economic and social development, focusing on poverty and income inequality dating back to colonial times. It addresses today's legacies of the market-friendly reforms that took hold in the 1980s and 1990s by examining successful stabilizations and homemade monetary and fiscal institutional reforms. It offers a detailed analysis of trade and financial liberalization, twenty–first century-growth, and the decline in poverty and income inequality. Finally, the book offers an overall analysis of inclusive growth policies for development—including gender issues and the informal sector—and the challenges that lie ahead for the region, with special attention to pressing demands by the vibrant and vocal middle class, youth unemployment, and indigenous populations.
This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
"The challenges facing agriculture are plenty. Along with the world's growing population and diminishing amounts of water and arable land, the gradual increase in severe weather presents new challenges and imperatives for producing new, more resilient crops to feed a more crowded planet in the twenty-first century. Innovation has historically helped agriculture keep pace with earth's social, population, and ecological changes. In the last 50 years, mechanical, biological, and chemical innovations have more than doubled agricultural output while barely changing input quantities. The ample investment behind these innovations was available because of a high rate of return: a 2007 paper found that the median ROI in agriculture was 45 percent between 1965 and 2005. This landscape has changed. Today many of the world's wealthier countries have scaled back their share of GDP devoted to agricultural R&D amid evidence of diminishing returns. Universities, which have historically been a major source of agricultural innovation, increasingly depend on funding from industry rather than government to fund their research. As Upton Sinclair wrote of the effects industry influences, "It is difficult to get a man to understand something when his salary depends upon his not understanding it." In this volume of the NBER Conference Report series, editor Petra Moser offers an empirical, applied-economic framework to the different elements of agricultural R&D, particularly as they relate to the shift from public to private funding. Individual chapters examine the sources of agricultural knowledge and investigate challenges for measuring the returns to the adoption of new agricultural technologies, examine knowledge spillovers from universities to agricultural innovation, and explore interactions between university engagement and scientific productivity. Additional analysis of agricultural venture capital point to it as an emerging and future source of resource in this essential domain"--
Papers of the National Bureau of Economic Research conference held at Dartmouth College on May 8-9, 2009.