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A leading economist's exploration of what our economic arrangements might look like if we applied basic principles without ideological blinders. There is nothing wrong with economics, Dean Baker contends, but economists routinely ignore their own principles when it comes to economic policy. What would policy look like if we took basic principles of mainstream economics seriously and applied them consistently? In the debate over regulation, for example, Baker—one of the few economists who predicted the meltdown of fall 2008—points out that ideological blinders have obscured the fact there is no “free market” to protect. Modern markets are highly regulated, although intrusive regulations such as copyright and patents are rarely viewed as regulatory devices. If we admit the extent to which the economy is and will be regulated, we have many more options in designing policy and deciding who benefits from it. On health care reform, Baker complains that economists ignore another basic idea: marginal cost pricing. Unlike all other industries, medical services are priced extraordinarily high, far above the cost of production, yet that discrepancy is rarely addressed in the debate about health care reform. What if we applied marginal cost pricing—making doctors' wages competitive and charging less for prescription drugs and tests such as MRIs? Taking Economics Seriously offers an alternative Econ 101. It introduces economic principles and thinks through what we might gain if we free ourselves from ideological blinders and get back to basics in the most troubled parts of our economy.
Dubin (economics, California Institute of Technology) presents nine previously unpublished studies in applied economics. Themes range widely. They include the demand for NFL football, the valuation of a technology patent, a statistical analysis of the additive and multiplicative hypotheses of multiple exposure synergy for cohort and case-controlled studies, concentration and competition in the chemotherapy drug market, the allocation of police services in rural Alaska, and financial market reaction to the fast food hamburger health scare of 1993. Emphasis is placed on applications, but attention is also given to the econometric and statistical issues for more advanced readers. c. Book News Inc.
The first part deals with philosophies that have had a significant input, positive or negative, on the search for truth; it suggests that scientific and technological are either stimulated or smothered by a philosophical matrix; and it outlines two ontological doctrines believed to have nurtured research in modern times: systemism (not to be mistaken for holism) and materialism (as an extension of physicalism). The second part discusses a few practical problems that are being actively discussed in the literature, from climatology and information science to economics and legal philosophy. This discussion is informed by the general principles analyzed in the first part of the book. Some of the conclusions are that standard economic theory is just as inadequate as Marxism; that law and order are weak without justice; and that the central equation of normative climatology is a tautology–which of course does not put climate change in doubt. The third and final part of the book tackles a set of key concepts, such as those of indicator, energy, and existence, that have been either taken for granted or neglected. For instance, it is argued that there is at least one existence predicate, and that it is unrelated to the so-called existential quantifier; that high level hypotheses cannot be put to the test unless conjoined with indicator hypotheses; and that induction cannot produce high level hypotheses because empirical data do not contain any transempirical concepts. Realism, materialism, and systemism are thus refined and vindicated. ​
A calculation of the social returns to innovation /Benjamin F. Jones and Lawrence H. Summers --Innovation and human capital policy /John Van Reenen --Immigration policy levers for US innovation and start-ups /Sari Pekkala Kerr and William R. Kerr --Scientific grant funding /Pierre Azoulay and Danielle Li --Tax policy for innovation /Bronwyn H. Hall --Taxation and innovation: what do we know? /Ufuk Akcigit and Stefanie Stantcheva --Government incentives for entrepreneurship /Josh Lerner.
A companion volume to Basic Economics discusses the application of economics to such world problems as medical care, discrimination, and the development of nations, examining economic policies in terms of their immediate and longer-term repercussions.
This Volume Is A Collection Of Contributions Made By Internationally Recognized Academicians, Either Suggest Refinements And Expansions To The Existing Tool Kit For Economic Analysis, Or Suggest Improved Methods To Conceptualise Issues Or Analyse The Economic Implications Of Delivery Mechanisms And The Institutions In Which They Are Embedded. A Valuable Reference Book For Students, Academicians And Policymakers.
An overview of the role played by federalism in anti-poverty policy and in poverty law.
We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that wasn’t the case—economists simply didn’t have the necessary information or statistical tools to understand the ever more complicated modern economy. With Political Arithmetic, Nobel Prize–winning economist Robert Fogel and his collaborators tell the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking—Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover’s interest in business cycles as President Harding’s commerce secretary, and the catastrophic economic failures of the Great Depression—and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making. The product of a lifetime of studying the workings of economies and skillfully employing the tools of economics, Political Arithmetic is simultaneously a history of a key period of economic thought and a testament to the power of applied ideas.
In this book, the author builds on decades of complex research to examine the gender pay gap and the unequal distribution of labor between couples in the home. The author argues that although public and private discourse has brought these concerns to light, the actions taken - such as a single company slapped on the wrist or a few progressive leaders going on paternity leave - are the economic equivalent of tossing a band-aid to someone with cancer. These solutions, the author writes, treat the symptoms and not the disease of gender inequality in the workplace and economy. Here, the author points to data that reveals how the pay gap widens further down the line in women's careers, about 10 to 15 years out, as opposed to those beginning careers after college. She examines five distinct groups of women over the course of the twentieth century: cohorts of women who differ in terms of career, job, marriage, and children, in approximated years of graduation - 1900s, 1920s, 1950s, 1970s, and 1990s - based on various demographic, labor force, and occupational outcomes. The book argues that our entire economy is trapped in an old way of doing business; work structures have not adapted as more women enter the workforce. Gender equality in pay and equity in home and childcare labor are flip sides of the same issue, and the author frames both in the context of a serious empirical exploration that has not yet been put in a long-run historical context. This book offers a deep look into census data, rich information about individual college graduates over their lifetimes, and various records and sources of material to offer a new model to restructure the home and school systems that contribute to the gender pay gap and the quest for both family and career. --
One of the alleged benefits of the recent global movement to strengthen intellectual property rights (IPRs) is that such reforms accelerate transfers of technology between countries. Branstetter, Fisman, and Foley examine how technology transfer among U.S. multinational firms changes in response to a series of IPR reforms undertaken by 12 countries over the 1982-99 period. Their analysis of detailed firm-level data reveal that royalty payments for intangibles transferred to affiliates increase at the time of reforms, as do affiliate research and development (R & D) expenditures and total levels of foreign patent applications. Increases in royalty payments and R & D expenditures are more than 20 percent larger among affiliates of parent companies that use U.S. patents more extensively prior to reform and therefore are expected to value IPR reform most. This paper--a product of Trade, Development Research Group--is part of a larger effort in the group to understand the global impact of stronger intellectual property rights.