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John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
The economic history of revolutionary France is still a neglected area in studies of the Revolution of 1789. Whilst some attention has been given to the condition of the peasants, the urban working classes and the financial crisis of the Ancient Régime, there has been a general tendency to regard economic factors as external and somewhat peripheral to the truly political nature of the Revolution. This book is designed to redress the balance, providing a clear, accessible, and thought-provoking guide to the economic background to the French Revolution. Professor Aftalion analyses the policies followed by successive revolutionary assemblies, examining in detail taxation, the confiscation of church property, the assignats, and the siege economy of the Terror. He shows how decisions taken in 1789 by the Constituent Assembly inevitably led to a deepening financial and economic crisis, and to increasingly radical and disastrous policies. The study is important also for its exposure of many of the economic fallacies propounded both at the time by many Frenchmen and later by many modern historians.
Why our workplaces are authoritarian private governments—and why we can’t see it One in four American workers says their workplace is a “dictatorship.” Yet that number almost certainly would be higher if we recognized employers for what they are—private governments with sweeping authoritarian power over our lives. Many employers minutely regulate workers’ speech, clothing, and manners on the job, and employers often extend their authority to the off-duty lives of workers, who can be fired for their political speech, recreational activities, diet, and almost anything else employers care to govern. In this compelling book, Elizabeth Anderson examines why, despite all this, we continue to talk as if free markets make workers free, and she proposes a better way to think about the workplace, opening up space for discovering how workers can enjoy real freedom.
Learning the Left examines the ways in which young people and adults learned (and continue to learn) the tenets of liberal politics in the United States through the popular media and the arts from the turn of the twentieth century to the present. This collection of essays foregrounds mass culture as an educational site; it is hoped that this focus on the history of the civic functions of the popular media and arts will begin a much-needed conversation among a variety of scholars, notably historians of education.
This text covers the basic theory and computation for mathematical modeling in linear programming. It provides a strong background on how to set up mathematical proofs and high-level computation methods, and includes substantial background material and direction. Paris presents an intuitive and novel discussion of what it means to solve a system of equations that is a crucial stepping stone for solving any linear program. The discussion of the simplex method for solving linear programs gives an economic interpretation to every step of the simplex algorithm. The text combines in a unique and novel way the microeconomics of production with the structure of linear programming to give students and scholars of economics a clear notion of what it means, formulating a model of economic equilibrium and the computation of opportunity cost in the presence of many outputs and inputs.
Makes correlations between success and geography, explaining how such rising centers of innovation as San Francisco and Austin are likely to offer influential opportunities and shape the national and global economies in positive or detrimental ways.