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This study investigates the nature of the impact of globalization on the Indian state. It takes as its point of departure the thesis, set out in the introductory essay, that globalization has resulted in the erosion of the economic and welfare roles of the state. According to the author, the shift to liberalization, the resurgence of the private sector, and the acceleration of growth rate paradoxically 'empowered' and 'enabled' the state. He argues that the examination of the quantitative data strongly points to the continued expansion of the economic and welfare roles of the state, rather than decline. Therefore, the retrenchment of the state does not have much merit. He emphasizes on the fundamental continuity in the key functions of the state. He concludes by saying that the state is lagging behind in the areas of internal security, education and health, and makes suggestions for institutional reforms.
Companies like Google and Apple heralded the information revolution, and opened the doors for Silicon Valley to grow into an engine of dazzling technological development, that today champions the free market that engendered it against the supposedly stifling encroachment of government regulation. But is that really the case? In this sharp and controversial expose, The Entrepreneurial State, Mariana Mazzucato debunks the pervasive myth that the state is a laggard, bureaucratic apparatus at odds with a dynamic private sector. Instead she reveals in case study after case study that, in fact, the opposite is true: the state is our boldest and most valuable innovator. The technology revolution would never have happened without support from the US Government. The breakthroughs--GPS, touch-screen displays, the Internet, and voice-activated AI--that enabled legendary Apple products to be smart successes were, in fact, all developed with support from the state. Mazzucato reveals that many successful entrepreneurs like Steve Jobs integrated state-funded technological developments into their products and then reaped the rewards themselves. The algorithm behind Google’s search engine was initially sponsored by NASA. And 75% of NMEs--new, often-ground-breaking drugs not derivative of existing substances--trace their research to National Institutes of Health (NIH) labs. The American government, it turns out, has been enormously successfully at stimulating scientific and technological advancement. But by 2009, just some months following the Great Recession--the US government, constrained by austerity measures, started disinvesting from its holdings in research fields like health, energy, electronics. The trend is likely to continue, and the repercussions of these policies could wreak havoc on our technology and science sectors. But Mazzucato remains optimistic. If managed correctly, state-sponsored development of Green technology, for instance, could be as efficacious as suburbanization & post-war reconstruction in the mid-twentieth century, and unleash a wide-spread golden age in the global economy. The limitations of natural resources and the threat of global warming could become the most powerful driver of growth, employment, and innovation within just one generation--but to be successful, the Green Revolution will depend on the initiatives of proactive governments. By not admitting the State’s role in economic and technological progress, we are socializing only the risks of investing in innovation, while privatizing the rewards in the hands of only a few businesses. This, Mazzucato argues, hurts both future of innovation and equity in modern-day capitalism. For policy-makers, Silicon Valley start-up founders, venture-capitalists, and economists alike, The Entrepreneurial State stirs up much needed debate and offers up a brilliant corrective to spurious beliefs: to thrive, American businesses have always and will need to depend on the support of our country’s most audacious entrepreneur, the state.
Porter challenges the powerful ideology of "Globalism" that is widely subscribed to by the US national security community. Globalism entails visions of a perilous shrunken world in which security interests are interconnected almost without limit, exposing even powerful states to instant war. Globalism does not just describe the world, but prescribes expansive strategies to deal with it, portraying a fragile globe that the superpower must continually tame into order. Porter argues that this vision of the world has resulted in the US undertaking too many unnecessary military adventures and dangerous strategic overstretch. Distance and geography should be some of the factors that help the US separate the important from the unimportant in international relations. The US should also recognize that, despite the latest technologies, projecting power over great distances still incurs frictions and costs that set real limits on American power. Reviving an appreciation of distance and geography would lead to a more sensible and sustainable grand strategy.
A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.
Challenges popular conceptions about the 40th president's administration and legacy, arguing that subsequent presidents and conservative policymakers have exploited the country's misunderstandings of Reagan's achievements to promote risky agendas. Reprint.
"Political economy themes have - directly and indirectly - been a central concern of law and legal scholarship ever since political economy emerged as a concept in the early seventeenth century, a development which was re-inforced by the emergence of political economy as an independent area of scholarly enquiry in the eighteenth century, as developed by the French physiocrats. This is not surprising in so far as the core institutions of the economy and economic exchanges, such as property and contract, are legal institutions.In spite of this intrinsic link, political economy discourses and legal discourses dealing with political economy themes unfold in a largely separate manner. Indeed, this book is also a reflection of this, in so far as its core concern is how the law and legal scholarship conceive of and approach political economy issues"--
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"This book should be mandatory reading for all scholars concerned with Christian origins ... nothing of comparable importance has been written for at least a decade." - Freethinker For more than a century scholars have been examining the Gospels and other traditions about the life of Jesus to determine their historical accuracy. Although the results of these scholarly efforts are sometimes controversial, the consensus among researchers today is that the four Evangelists'' accounts cannot be taken at face value. In fact, a team of more than 100 scholars called the Jesus Seminar has come to the conclusion that on average only about 18 percent of the four Gospels is historically accurate.An active member of the Jesus Seminar, Dr. Robert M. Price presents the fruits of this important historical research in this fascinating discussion of early Christianity. As the title suggests, Price is none too optimistic about the reliability of the Gospel tradition as a source of accurate historical information about the life of Jesus. Indeed, he feels that his colleagues in the Jesus Seminar are much too optimistic in their estimate of authentic material in the Gospels. After an introduction to the historical-critical method for nonspecialists and a critique of the methods used by the Jesus Seminar, Price systematically discusses the narrative and teaching materials in the Gospel, clearly presenting what is known and not known about all of the major episodes of Jesus'' life. He also examines the parables for authenticity as well as Jesus'' teachings about the Kingdom of God, repentance, prayer, possessions and poverty, the Atonement, and many other features of the Gospels.Written for the general reading public in a lively and accessible style, Dr. Price''s highly informative discussion will be of interest to anyone who has wondered about the origins of Christianity.
The focus on poverty and inequality in development discourse has generally been an acknowledgement of the gaps between the poor and the affluent. This is seen as an economic condition linked to livelihoods and employment deprivation, or a condition rooted in the broader socio-cultural moorings of the society creating entitlement and capability deprivations. However, the issue here is how inequality concerns impact and are reflected in public policies. What are the drivers that determine the interests and structural coalitions that shape government welfare agendas, and in turn public policies on inequality? The processes shaping the conceptualization of inequality concerns within the policy framework have not been adequately comprehended in the development discourse. This involves a focus on policies that address the need for human capital development (e.g. social sector policies like health, education, and employment and livelihoods). However, it also requires a focus on institutions and processes that can impact the ability of people to influence public policies affecting them directly and their ability to build and protect their assets, and to gain access to public and private resources and services. Policy legislation is, in other words, also a product of different interests represented in the policy domain and the structural coalitions through which interests become represented, such as political parties and civil society groups, and how this determines the politics of state action, particularly in federal-parliamentary systems like India. In the process of governance, this creates an institutional landscape of competing pressures that forms the core politics of public policy formulation and public service provision. This paper discusses the institutional internalization of the politics in public policy legislation in India to address inequality. Constituting a major characteristic of the ‘patronage democracy’ witnessed in the country, public policy legislation reflects the politically construed institutional internalization of concerns. The policies not only reflect equality concerns, but also involve a comprehension of equality within the framework of citizen demands for development and inclusion, and the political rationalization of what can secure electorate support.
A common critique of globalization is that it causes economic segmentation and even disintegration of the national economy. Quite to the contrary, Baldev Raj Nayar provides a thorough empirical treatment of India’s political economy that challenges this critique by demonstrating that, on balance, both state and market have functioned to attenuate such a disintegrative impact and to accentuate economic integration. The active role of the Indian state in the areas of economic planning, fiscal federalism, and tax reform has resulted in improved economic integration and not increased segmentation. Similarly, his investigation of trade, investment, entrepreneurship, and migration suggests tendencies inherent in the market in favor of economic integration, especially when assisted by the state. While globalization has its benefits, such as higher economic growth, and costs, such as external shocks, Nayar’s findings show that India has benefited from globalization more than it has been victimized by it. Globalization and India’s Economic Integration shows how globalization’s pressures favoring efficiency paradoxically induced the state to push for consolidation on a pan-Indian scale in the area of fiscal federalism and to advance the cause of the common market through reforming the indirect tax system; meanwhile, the state has pressed forward with social inclusiveness as never before in its economic planning. For another, the market, too, has been instrumental, because of its widened scope and its inherently expanding character, in strengthening economic integration through trade expansion, diffusion of industry, and increased inter-state migration. Nayar’s groundbreaking work will interest students, scholars, and specialists of India, South Asia, globalization, and political economy.