Product Description
Global population aging is an inevitable feature of the final stages of the demographic transition, a worldwide combination of low fertility and low mortality that result in older, more slowly growing--even shrinking--populations. This trend raises the concurrent risks of rising dependency ratios of the elderly on the working-age population, and falling global saving rates as the growing retired population begins not to save after a lifetime of working. This lecture explains how the purported risks of global aging can be contained through foresight and prudent public policy, and also how these trends will affect the Third World countries. ... Read more

Customer Reviews (1)

Get and read this short and compelling book.Yes, you SHOULD be concerned.
This short book should not only raise real concerns about the economic future of the world, but of your own plans for yourself and especially your children and grandchildren.Ronald Lee uses some very interesting charts and very tightly written prose to show how the combination of rising life expectancies and lower fertility rates are leading us into an unsustainable social support system.

Folks, it isn't that the GOP wants you to be poor or take away your social security, it is simple arithmetic that makes us face the fact that if there are fewer younger people to support each old person AND that old person will stop being economically productive for decades before the shuffle off this mortal coil, that something will have to give.The intergenerational transfer genie is running out of magic wishes.

This is a short book and one every serious adult and young adult needs to read and get their mind around as we are forced to come to grips with what the world is facing.Or we can be a bunch of grasshoppers in a world with no more ants.
... Read more

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As the twentieth century draws to a close and the rush to globalization gathers momentum, political and economic considerations are crowding out vital ethical questions about the shape of our future. Now, Hans Kung, one of the world's preeminent Christian theologians, explores these issues in a visionary and cautionary look at the coming global society.

How can the new world order of the twenty first century avoid the horrors of the twentieth? Will nations form a real community or continue to aggressively pursue their own interests? Will the Machiavellian approaches of the past prevail over idealism and a more humanitarian politics? What role can religion play in a world increasingly dominated by transnational corporations? Kung tackles these and many other questions with the insight and moral authority that comes from a lifetime's devotion to the search for justice and human dignity. Arguing against both an amoral realpolitik and an immoral resurgence of laissez faire economics, Kung defines a comprehensive ethicfounded on the bedrock of mutual respect and humane treatment of all beingsthat would encompass the ecological, legal, technological, and social patterns that are reshaping civilization. If we are going to have a global economy, a global technology, a global media, Kung argues, we must also have a global ethic to which all nations, and peoples of the most varied backgrounds and beliefs, can commit themselves. "The world," he says, "is not going to be held together by the Internet."

For anyone concerned about the world we are creating, A Global Ethic for Global Politics and Economics offers equal measures of informed analysis, compassionate foresight, and wise counsel. ... Read more

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… an outstanding achievement … very much a geographers perspective on globalisation — and for that it is a testament to the scope and innovativeness to be found in recent research in economic geography … a major contribution to how we understand both the discipline of economic geography and the world of globalisation Gordon L. Clark, Halford Mackinder Professor of Geography, University of Oxford

The Reader is a rich and diverse collection of more than 50 contributions written by most of the leading economic geographers of the 1990s. I can unconditionally recommend this Reader for any course in Economic Geography … no other product on the market can compete in terms of quality and coverage. Rolf Sternberg, University of Cologne

This Reader, in ranging from questions of globalization to local development, from production to consumption, and from markets to institutions, gives an excellent idea of the many advances made in economic geography in recent years. Michael Storper, University of California, Los Angeles

Over the past few years, economic geography has undergone a major revival and expansion. Combining over 50 specially edited papers, The Economic Geography Reader brings together many of the key contributions in this revival. This international Reader focuses on the evolving economic geography of the advanced capitalist economies of Europe, North America and the Pacific Rim within the framework of economic globalisation. The book spans the economic geographies of globalisation, new spaces of production and consumption, new landscapes of work and the restructuring of welfare, and includes a specially written introductory chapter, section overviews, and suggested further reading. An important statement on economic geography today, this book provides an indispensable resource for undergraduates in economic geography, regional economics and other related social sciences. ... Read more

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Gain a better understanding of today's global financial crisis, its possible causes and potential consequences with the thoroughly revised PRINCIPLES OF ECONOMICS, 6E: GLOBAL FINANCIAL CRISIS EDITION by economic expert John B. Taylor and Akila Weerapana. Completely updated chapters emphasize the latest developments in monetary policy, economic fluctuations, money and inflation, and capital and financial markets.As former Undersecretary of the Treasury for International Affairs and one of the most respected voices in economics today, author John Taylor provides unique insights and a strong international perspective on today's issues with updated data through the Obama Administration. Clearly written, concise coverage of current economic theories provides refreshing examples, engaging applications, and Aplia homework solution to ensure your understanding of economic developments as they happen. ... Read more

Customer Reviews (7)

Superb service!
I mistakenly ordered the wrong book and TonyText was swift in responding to my request to cancel my order.I will definitely order again from this seller.

Econnomics
Read the first chapter and never got to finish the class. Hope the textbook is used next term.

Very well written book.
Fantastic book !!!!
Really a fun to read because it contains so many real-case examples. I graduated in math and read this book just for my personal interest. I wanted a book on economics that explained all the basic stuff, but at a level that was deep enough to challenge me. And this book gave me what I wanted : I started reading it and couldn 't stop until the end.
A reviewer had the remark that there was a lack of mathematics. It is true that really advanced math is avoided, however that does not make the text less rigorous beause all the concepts are cleary explained by using graphs and very basic algebra.
(If this book was about advanced abstract math itself, I would agree that graphs is not a rigorous way to proof things, but this is a book on economics, though, and it goes rather deep for a basic course)
And if you like more math (as I do in fact), you can easily derive the mathematical explanations straight away from the very clearly written text. What is more important however is the fact that this book really learns you how to think like an economist.

I also very much like the editing style, repeated definitions in the left and right marging, a lot of illustrations, a lot of interesting real life case studies, enough space on each page to make your personal annotations... I wish every textbook was like this ...
This book succeeds very well in explaining clearly with enough rigor the basic principles of economics.

thanks.

A Modern View Of Aggregate Demand and AggregateSupply
This is one of the only texts that uses the inflation rate on the vertical axis of the As-Ad diagram. This is a more modern approach to these curves than the standard approach which
places price level on the vertical axis. Professor Taylor explains Economics in a very clear and interesting way.
It's definitely one of the best Principles books on the market.

I thought Economics dealt with math?
I find this book very helpful in supplimenting the REALY economics I learn in class.The book uses superfluous language to describe simple mathematical concepts.The book is adequate for a high school class, butno serious Econ student. ... Read more

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Customer Reviews (13)

Perhaps Ecnomic Hitman Was Better...
After rave reviews of the first book, Confessions of an Economic Hitman, I decided to give this book a chance.Unfortunately, without reading the first, this book was hard to follow for me.

It wasn't that this book is a continuation of the original book but it expanded on the ideas and research shared in the original.However, those who aren't econ students or history buffs or conspiracy theorists, this could be difficult.

At times, the terms thrown at the reader felt foreign even if written in plain English.To sum this book up, there is an evil empire out there and globalization (world domination) is the game.Enslaving the world with debt, the world being third-world developing nations.

The books chapters basically covers/exploits/shares all the bad stuff these economic hitmen have done around the world and how this evil empire of corporations are profiting off of capitalism and exploitation.

I'd say, its much easier to watch both Zeitgeist movies but if your really into this stuff, I'd skip this book and pick up Confessions instead.

The Economic Empire
This book is a compilation from various authors and is a companion volume to A Game as Old as Empire: The Secret World of Economic Hit Men and the Web of Global Corruption.

The selection of topics centers around finances and global corporate power.

Some of the tools for corporate tax evasion are listed. "Transfer pricing" and "round-trips" are two of the more prominent vehicles.
Profit laundering through tax havens is another.

Chapter 4 "BCCI's Double Game" by Lucy Komisar alone makes this book a "must read". The names associated with that bank make for strange bedfellows to say the least!

Another current topic is the real motivation for invading Iraq. It has nothing to do with WMD's and it's a case of history repeating itself.

After reading about the exploitations related to institutions like the IMF, World Bank and other international entities, the reader is treated to some promising developments in the final chapter.
Individual community ordinances to regulate corporations on a local level and a call for corporate charters are two examples.

This is an excellent book for any reader interested in the financial and economic aspects of the American Empire.

Absolute Truth
I have read many books in my time and, every once in a while, a book comes along that really shines light on things. This is one of those books. The shocking evidence that comes from this book would make any stomach turn. This is a must read for anyone interested in power structures. For political junkies, it may be very interesting to read about the different power structures offered by political ideology (e.g. Marxism, liberalism, conservatism, etc). These different ideologies taught to us in higher education tell us about how power structures should be. But what this book offers is more. It explains how power structures are, not how they should be...

Shocking
After reading this I can see why we are in such economic trouble. This will shine a light on the failure of our leaders and how the 700billion bailout will only keep everything "Business as usual" God help us all!

This should be required reading...
But--do not read this book if your mind is not open to hearing the truth about how things really are. If you are at all curious about how the world works, then this book will certainly begin to answer the questions you have. You should read this in tandem with John Perkins' "Confessions of an Economic Hit Man". ... Read more

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MySearchLab provides students with a complete understanding of the research process so they can complete research projects confidently and efficiently. Students and instructors with an internet connection can visit www.MySearchLab.com and receive immediate access to thousands of full articles from the EBSCO ContentSelect database. In addition, MySearchLab offers extensive content on the research process itself–including tips on how to navigate and maximize time in the campus library, a step-by-step guide on writing a research paper, and instructions on how to finish an academic assignment with endnotes and bibliography.­

A popular examination of the processes and structures of political economic relationships in an interdependent global economy.

Product Description
The Travels of a T-Shirt in the Global Economy has been lauded by the New York Times, Financial Times, and reviewers worldwide. Translated in fourteen languages, Travels has received numerous awards for its frank and nuanced discussion of global economic realities.  Now updated and revised--including a discussions of environmental issue--this fascinating book illustrates crucial lessons in the debate on globalization.

The major themes and conclusions from the first edition are intact, but in  response to questions from readers and students around the world, the second edition now includes:

• Updates on the people, businesses, and politics involved in the production of the T-shirt.
• Discussions of environmental issues related to both international trade and the T-shirt's life story.
• A look at the maturing of the anti-globalization movement, and the recent shift in public opinion against internationalism.

Customer Reviews (39)

an important book
This book was recommended to me by a friend.It is an insight into the global economy that is so well written and clearly explained that it should be required reading in high schools and colleges for Americans to understand the implications of individual responsibility of choices in many aspects of life such as jobs, shopping, travel, voting and you name it!

What all of us SHOULD know, before we buy...
The Travels of a T-Shirt in the Global Economy, by Economist Pietra Rivoli, is my second "where do t-shirts come from and how do they fit in the global economy" book.The first was a much slimmer publication, T-Shirt: One small item, one giant impact (also reviewed).This book certainly goes into greater detail, particularly regarding the economic and societal forces affecting the production of cotton, the history of mechanization in production and processing cotton, the affect of the fabric industry on workers and the work environment, and the "last stage" of a T-shirts life in the US, as extraordinary numbers of cast-off clothes are shipped to entrepreneurs in Africa to resell as serviceable clothing, then finally recycled as rags or as raw material to make, once again, into T-shirts.

Here are some of the interesting snippets from this book:

"It takes a little over a third of a pound of cotton lint to produce a T-shirt, maybe 15 cents' worth, so an acre of West texas farmland can produce about 1,200 T-shirts each year" (p. 62).

"Globalization's critics continue to charge that the price of cheap T-shirts is high indeed.Sweatshops spawned by global capitalism exploit the poor and the powerless, forcing people without alternatives to work in prison-like conditions for pennies a day.The factory villages also destroy traditional family structures and cultures, and weaken indigenous agriculture.In short, the critics claim, the cheap T-shirts from China are a victory for US consumers and for corporate profits, but a failure for humanity" (p. 72).However, Rivoli demonstrates that the truth is more complicated.If the textile industry allows young women to escape the drudgery and toil of life, marriage, children, and death on the farm, having an opportunity to develop their own life, perhaps with educational opportunities, is this all negative?Rivoli writes, "Like their sisters in time, textile and clothing workers in China today have low pay, long hours, and poor working conditions.Living quarters are cramped and rights are limited, the work is boring, the air is dusty, and the noise is brain numbing.The food is bad, the fences are high, and the curfews are inviolate.As generations of mill girls and seamstresses from Europe, America, and Asia are bound together by this common sweatshop experience - controlled, exploited, overworked, and underpaid - they are bound together too by one absolute certainty, shared across both oceans and centuries.This beats the hell out of life on the farm [last sentence italicized by author]" (p. 90).

"When the benefits of cheaper T-shirts for millions across the country are placed alongside the costs of job loss for a few thousand in a North Carolina mill town, the public's internal calculator often works much differently than does an economist's....Even when it looks futile, Americans seem to want to try" (p. 150-1).

I found the final chapter on "castoff T-shirts" fascinating.Who hasn't taken those extra clothes to their local charity, to help cloth the poor?

They were probably sold by the ton, shipped to Africa, and sold again.

"Observers have sharply conflicting views about the global trade in castoff T-shirts.Is the recycled clothing business a villainous industry - a shadowy network that exploits the goodwill of charities and their donors, and suffocates the apparel industries in developing countries under the mountains of castoffs?Or is it a great industry, a model of nimble, free market dynamism that channels charitable impulses into clothing for the poor? (p. 176-7).In Tanzania, these castoff clothes are called "mitumba" - clothing thrown away by Americans and Europeans, including many T-shirts (p. 190).

"Donated clothing quickly makes its way to mitumba markets, though the trade becomes more illicit and hidden.Researchers in Sweden cite evidence from several countries that suggests donated clothing is unlikely to reach those who have a true physical need for clothing but instead is rapidly sent into the markets.Researchers have also found that clothing intended for refugees in Asia efficiently enters the market.Clothing given away in this manner will still enrich a middleman, but it will be an illegal one.And whether we like it or not, charities are no match for markets when it comes to giving people the clothing that they need or want.trailer loads and ship loads of clothing are often donated following natural disasters such as hurricanes, but without people... to match clothing with customers, most of these donations rot in warehouses.Charities are ill-equipped to provide the sorting, grading, and distribution functions so ably provided..., and so most disaster relief organizations nearly beg thewell-intentioned not to send clothing to disaster areas" (p. 202-3).

Interesting stuff.This book is another one in the genre of giving the reader a deeper, richer understanding of where things come from, and why.I also read a book recently about the cut flower industry (Flower Confidential: The Good, the Bad, and the Beautiful.The similarities here are very interesting.

Fascinating Look at the Connections and Complexities of Globalization
As an economist telling the story of t-shirt bought at an American drugstore, Pietra Rivoli weaves together a narrative of the connections and complexities of globalization.Arguing that the life of her t-shirt is not influenced heavily by markets, Rivoli instead insists that history, politics, and creative strategies of market avoidance are the major factors determining this life cycle, which is composed of four journeys. Cotton is grown and harvested in the United States before being sent to China. Once there, the cotton is spun into fabric and perhaps at the same factory or another location, the fabric is then made into a t-shirt.At this point, the t-shirt comes back to the U.S., where it is bought, sold, and eventually thrown out or donated to a thrift store.And what turns out to be perhaps the most interesting part of the book, our (Americans) used clothing is sent around the world, particularly to African countries.The selling and buying of used American t-shirts has created a new industry and market that only typifies the worldwide links that globalization creates.

A serendipitous mix of ecological conditions, policies, economics, and history facilitated the U.S.'s rise to cotton dominance.To start, cotton factories and innovation in the growing, harvesting, and manufacture of the crop helped give the U.S. advantage of any other cotton producing country.Slave labor was, as Rivoli states, "the first significant American `public policy' that served to protect cotton growers from the perils of operating in a competitive market...a risk growers were loathe to assume" (pg. 11).Other countries, such as India and China did not yet have a modern market that would enable them to compete with American cotton production.Even though the U.S. did not have to rely on a labor market and could instead use slave labor in the cotton fields, Rivoli suggests that the U.S. also had in place "institutions necessary to support factory-style cotton production," those being chiefly property rights, incentive structures, what she calls "governance" and what will and continues to play a major role in cotton production and in the modern, American textile industry.

Rivoli makes a strong argument that the avoidance of the labor market was a successful and enduring strategy of earlier cotton producers.This is a technique that continues today in an interesting way.No longer do cotton producers have to rely on any manual labor on the farms.As cotton production shifted from the southern U.S. to the largest cotton producing state of Texas (environmental and technological reasons primarily) and as the main example of the Reinsch farm illustrates, an eighty-seven year old man can now work his 1,000 acre cotton farm essentially alone, with the use of different technologies that have enabled him to produce about 500,000 pounds of cotton that will make 1.3 million t-shirts.Partnerships with local schools, such as Texas Tech University, which specialize in various cotton production methods, along with tractors and other machinery allow for the extensive harvesting of cotton fields.Even with government sponsored initiatives, such as the Bracero Program that allowed Mexican laborers to enter the country for agricultural work (started in 1942), farm machinery could do the work of many men in various weather conditions.Furthermore, genetically modified cotton seeds have given even more advantages to growers, even though the safety of certain genetically engineered crops and food still remains questionable.Rivoli's discussion of Monsanto's monopoly on genetically modified crops and products aimed at creating the most efficient cotton growing is one of the highlights of the book, one that deserved more attention.Monsanto's questionable tactics raise concerns over the freedom for producers of any crop to maintain a sense of detachment from Monsanto's ever widening political and economic grasp.

From the cotton fields of Texas, the cotton is sent to China, where workers spin the cotton, knit it into cloth, cut it into pieces, and then sew it to form a t-shirt.Here, the story focuses heavily on the working conditions in the various clothing factories that have been springing up all over China.Rivoli's glimpse into the lives of factory workers seems almost standard, at least for anyone with any knowledge about sweatshops.In the chapter, "Cotton Comes to China," Rivoli writes about several experiences she had when visiting the Shanghai Brightness Number 3 Garment Factory.Workers are subject to harsh working conditions, make little money, and work tremendously long hours.The next few chapters deal mainly with reasons why China, and other Asian countries have become preferred destinations for the manufacture of t-shirts and other apparel.This "race to the bottom" refers to the idea of making as much profit out of a product for the least amount of money; accordingly, sweatshop like factories are places in which these garments can be cheaply produced through the hard work of low paid staff.Throughout this section, Rivoli makes excellent comparisons between modern Chinese workers and English cotton mill laborers at the beginning of the industrial revolution.This comparative aspect does not seem to suggest any earlier stages of globalization, but rather that distinct historical processes are similar to the same ones today and also that history has had a profound affect on today's modern economic and political practices.

Once the cotton is fashioned into t-shirts, they are shipping back to the U.S. to be sold to consumers.Here, Rivoli presents another interesting and less noticed aspect of the global clothing trade, that being the "governance" of the U.S. textile industry.The American textile and apparel trade, according to Rivoli, "is one of the most managed and protected manufacturing trade in U.S. history" (pg. 143).While this section is of interest, it is the most complex and confusing due to the shear number of different textile policies that have been influenced by political interests.Rivoli does an outstanding job of presenting two different sides of contention in the textile industry, one who would rather see textile manufacturing remain in the U.S. and not outsourced to other countries, and the other that is more "pro-trade" in relation to places like China, which quotas for textile imports to the U.S. were lifted as of 2009.This section provides the most examples that relate to the overall argument that the cotton industry's success is tied to market avoidance because as is clearly shown, policies enacted to protect American cotton growers and producers have played a far bigger role than any market interactions.

The last section and part of the t-shirt's life cycle focuses on an emerging market of donated clothing.Specifically, an American company is profiled that buys bulk donated clothing and then sells it to customers all over the world.These sellers of donated clothing must be very adept at knowing what their customers want and most often they are; they must satisfy the need for certain kinds of clothing, Japanese buyers might covet certain t-shirts, while European buyers are looking for particular jeans.The phrase that sums up these few chapters is, "one man's trash is another man's treasure."After the clothing is bought by foreign buyers, it continues to trickle down to the local economies, where second hand shirts from wealthy American's, some with sport's team logos other's with trendy designs, are sold by small entrepreneurs at community marketplaces.

As an economist, Rivoli's take on the global economy is refreshingly broad and incorporates much historical and political background.My major complaint is the lack of focus on the cultural aspect of the life cycle of a t-shirt.While the reader can imagine how certain political or economic factors as a result of the production, manufacturing, selling, and redistributing of a t-shirt could have a profound affect on local, regional, and national cultures, but it is left mostly vague with a focus on other topics.Nonetheless, the clear, informative, and well written book is a must read for anyone interested in contemporary issues in globalization, politics, or economics.The overall strength of the book, as I have stated before, is highlighting how connected the world, especially when policies of one entity, whether business or government affect practices, processes, economics, and politics places on the other side of the world.

Disappointment
I thought that this book would be very interesting given the topic. I also especially had high expectations from reviews I have read and everyone seems to think it is the best book. I found it very very hard to keep my attention when reading. The book dragged on and on. I don't think that it connected very well and it is definitely not "thrilling" like I have heard it being described as. The book did have valuable information but I do not think that it was executed wrong. It really was a big disappointment because I really wanted to like this book!

Spinning a Political Thread
Understanding how the threads of a T-shirt are woven out of political desires to retain power by leaders anywhere in the world may not be shocking, but the author's scholarship and approach delivers a balanced account of free trade and job protection and the unexpected outcomes.Learning about the mitumba markets of Africa adds to the completeness of the story of fibre into t-shirt and to its end as either rag or used article of clothing. Despite the full review of all the academic studies and literature related to the topic, the prose never strays into to academic-speak and the organization of the iconic t-shirt's story from birth to death from a non-abstract perspective makes it a compelling read.In many ways it is similar to Kurlansy's studies of cod or salt; but the insights about free trade bear more weight than just an historical perspective about what happenned with textiles from a macro-economic perspective. Highly recommended.rw ... Read more

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The book presents all major subjects in international monetary theory, foreign exchange markets, international financial management and investment analysis. It is relevant to real world problems in the sense that it provides guidance on how to solve policy issues as well as practical management tasks. This in turn helps the reader to gain an understanding of the theory and refines the framework.Various topics are interlinked so the book adopts a systematic treatment of integrated materials relating different theories under various circumstances and combining theory with practice. The text examines issues in international monetary policy and financial management in a practical way, focusing on the identification of the factors and players in foreign exchange markets and the international finance arena. The textbook can be used in graduate and advanced undergraduate programmes in these areas.The second edition incorporates two new chapters, integrating new materials, data, and recent developments. ... Read more

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Reforestation and avoiding deforestation are methods of harnessing nature to tackle global warming - the greatest challenge facing humankind. In this book, Colin Hunt deals comprehensively with the present and future role of forests in climate change policy and practice.

The author provides signposts for the way ahead in climate change policy and offers practical examples of forestry's role in climate change mitigation in both developed and tropical developing countries. Chapters on measuring carbon in plantations, their biodiversity benefits and potential for biofuel production complement the analysis. He also discusses the potential for forestry in climate change policy in the United States and other countries where policies to limit greenhouse gas emissions have been foreshadowed. The author employs scientific and socio-economic analysis and lays bare the complexity of forestry markets. A review of the workings of carbon markets, based both on the Kyoto Protocol and voluntary participation, provides a foundation from which to explore forestry's role. Emphasis is placed on acknowledging how forests' idiosyncrasies affect the design of markets for sequestered carbon. The realization of forestry's potential in developed countries depends on the depth of cuts in greenhouse gas emissions, together with in-country rules on forestry. An increase in funding for carbon retention in tropical forests is an immediate imperative, but complexities dictate that the sources of finance will likely be dedicated funds rather than carbon markets.

This timely and comprehensive book will be of great value to any reader interested in climate change. Policy-makers within international agencies and governments, academics and students in the fields of geography, economics, science policy, forestry, development studies as well as carbon market participants and forest developers in the private sector will find it especially useful. ... Read more

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Product Description
The highly respected text, now updated with a substantial postscript reflecting on recent conditions in the US and global economy.

The US economy faced the prospect of a serious recession even prior to the September 11 terrorist attacks. The afflictions that had deepened under both Bill Clinton and George W. Bush—wage stagnation, rising inequality, wildly inflated stock markets—sharpened further. The highly unstable conditions that Clinton handed Bush were hardly noticed amid the near-universal praise for the economic stewardship of Clinton and his supposed policy maestro, Federal Reserve Chair Alan Greenspan.

Contours of Descent reveals how these variants of neo-liberal economics, which lavish favors on multinationals and capitalists while allowing living standards for ordinary people to fall, operate in the US and less developed countries, and explores policies for economic growth with increased equality. ... Read more

Customer Reviews (14)

not innovative but gets the story right
I love looking at the back cover of a book before making the decision to actually read it, as this provides me with some expectations on the quality of the arguments it contains. I was very impressed to see that late Andrew Glyn from Oxford and Dani Rodrik from Harvard had praised "Contours of Descent". The former was a great British political economist who later wrote a very solid book on recent developments in capitalism himself ("Capitalism Unleashed"). The latter is a very distinguished mainstream economist who, with the likes of Stiglitz, manages to look at issues with a great deal of nuance.

Did "Contours of Descent" really deliver? Well, the book is pretty well argued indeed. It provides some healthy antidote to the view, prevalent among many American liberals, that Clinton's economic policy was a great success. Pollin shows that the expansion of the Clinton years was nothing more than a "hollow boom" that was primarily based on an unsustainable foundation of a stock market bubble; brought no benefit to people on the lower end of the income distribution; and brought about a painful aftermath. The analysis of neoliberalism and its repercussions is well done. I especially liked the fact that Pollin sometimes frames the discussion using concepts that he dubs the "problems" of Keynes, Marx and Polanyi. Not only does this make the reasoning more memorable, but it might also broaden the horizons of some readers regarding the history of economic thought.

Pollin not only describes the problem in the US and in the developing nations, but sketches out some noteworthy alternatives, as well. That is where the book becomes problematic. It feels somewhat incomplete, particularly in this day and age. The policy alternatives are not very detailed or innovative and the reader might want to pursue them elsewhere. For instance, when discussing growth in the developing countries, the author largely refers to Ha-Joon Chang's arguments in his seminal"Kicking Away the Ladder". The reader would learn much more by reading "Kicking Away the Ladder" itself. Secondly, a lot has happened since 2003 making the book slightly dated. For instance, the up to date story of Argentina provides an even stronger condemnation of the Washington Consensus since Argentina has had very impressive growth since showing IMF the door. Furthermore, the Washington Consensus has largely lost its PR battle and, with regard to development, the ideological environment has changed considerably.

Nevertheless, the book's age possesses an interesting angle: it is quite fun to find some prophetic assertions in the book, such as the costliness of the Iraq war, the dangers of deregulated financial markets and the nascent housing bubble, etc.

Even though slightly dated, and not very innovative, "Contours of Descent" is still valuable. It provides a good overview of the performance of neoliberalism as well as its incarnations in Clinton and Bush economic policies. Moreover, it offers some decent alternatives and provides some direction to those who might want to pursue the issue further. As its narrative is very accessible, reading it was a pleasure.

Not what I expected, but still good
I was expecting more a walk through the time period and a detailed pulling apart of neoliberalism. What I got was comparable to sniping. Pollin deftly presents the case as to why the Clinton Years were overrated, and theoriginal arguments he makes are quite compelling. And the case against the Clinton administration merely continuing the work of Reagan-Bush is quite damning.
Most importantly it's one of maybe half a dozen economics books that is READABLE

It's not exactly what i was expecting, but works as an excellent primer of the folly of Neoliberalism

Good But Already Dated
"Contours of Descent" is a critical re-examination (from a left/Keynesian perspective) of economic policy under Bill Clinton.The book also looks at the American economy during Bush's first term, and sizes up the impact of neo-liberalism on the developing world.The broad aim is to identify trends -- such as globalization and financial deregulation -- that are reducing growth and generating inequality in the U.S. and elsewhere.Among the findings:

-- Real wages of American workers have been stagnant since the 1970s, despite large productivity gains.The gap between rising productivity and flat real wages has generated higher returns to capital, thus fueling inequality in the U.S.

-- Wage stagnation is a result of the declining power of American workers, who have been undermined by anti-union policies at home and by competition from newly industrializing countries in Asia.In effect, globalization has increased the size of capitalism's "reserve army of the unemployed."

-- The short-lived economic "boom" of the late 1990s had nothing to do with the internet.It was caused by an artificial and unsustainable stock market bubble that boosted consumer spending and (eventually) investment.When the bubble collapsed, the American economy slid into recession.

-- Growth rates in the developing world dropped after neo-liberal reforms were imposed on/adopted by developing countries in the 1980s and '90s.

"Contours of Descent" is intelligent, thought-provoking, and jargon-free.The analysis of the stock market bubble of the late 1990s is eerily reminiscent of the recent housing bubble. which emerged only after the book was written.However, no issue is discussed in depth, and the chapter on the developing world -- a huge topic -- is laughably superficial.The book is also seriously dated, having been written in 2003.

Solid left-Keynesian critique, falters on broad social vision
I studied at the University of Massachusetts Amherst, where Robert Pollin teaches and works at the Political Economy Research Institute, and I am generally sympathetic to his work on such topics as living wages and financial market regulation. I've used this book as a text for my introductory macroeconomics course.

The book is well-written; beginning each chapter with a hook, often taken from a popular source, such as an article, editorial, or political speech, Pollin proceeds to demolish conservative arguments about the `ideal' 1990's economy. The tone of the book is evenhanded and reasonable, yet makes a solid, persuasive case.
The basic argument of the book is two-fold: first, the neoliberal policies pursued during the Clinton years (and the first two years of the Bush administration) have led to an increase in economic inequality, both in the US and elsewhere in the world, through institutions and agreements such as the IMF, the World Bank, the WTO, and NAFTA. Second, the prosperity of the Clinton years and the slump of the Bush years are simply two sides of the same coin, for both result from the increased economic volatility that results from neoliberal policies of deregulated financial markets, and the lack of effective government action to stabilize aggregate demand, as well as a basic antipathy towards worker's rights.

As should be clear from the summary above, the main theoretical apparatus of the book is quite close to what Keynes argues in The General Theory and elsewhere, and what left-leaning economists who followed Keynes have developed since the 1930's. Pollin makes his approach clear in the first chapter, where he addresses what he considers three major problems with unregulated market capitalism, associated with three great figures in economics, which Pollin dubs "The Marx Problem", "The Keynes Problem", and "The Polanyi Problem". Now, before delving into these problems, I should say, it takes a certain amount of verve to summarize the entire work of these great minds in a few paragraphs, and by doing so, one is certainly setting oneself up for a critique.

Let's start with where Pollin is the strongest, which is with his argument on "The Keynes Problem". Here Pollin delivers a wonderfully concise treatment of one of Keynes' arguments, which is that because business ventures are uncertain, financial markets developed to enable firms to have more flexibility and to manage risk. However, these
markets not only provide a means for turning society's savings into productive investment, they provide venues for speculation, which leads to a great deal of instability. Keynes argues that investment is the most volatile part of aggregate demand. Thus, if we want a more stable economy, in which destructive business cycles are minimized, effective regulation of financial markets and other government intervention in the economy are essential.

Pollin is also on solid ground with his treatment of "The Polanyi Problem", in which he argues that free markets tend to produce outcomes which are quite unfair. To solve this problem, markets must be "embedded in social norms and institutions that promote broadly accepted notions of the common good." This argument, which many New Deal
liberals, including Keynes himself, shared, brought about many reforms, labor laws, minimum wage and strong wage growth, and welfare state policies. To implement these, strong growth was needed in the government. According to Pollin's figures, government spending as percentage of GDP went from 8% in 1913 to 38% in 1992. Unfortunately,
Pollin is not as clear as he might have been in this section. He mentions that markets generate `inequitable' outcomes, but there is no real discussion of what this means in a concrete way.

However, it is when Pollin turns to Marx that he falters, arguing that "The Marx Problem" is that workers have less power than employers when it comes to bargaining for wages. As a result, international competition and pressure from unemployed and underemployed workers tends to bring wage levels down. That's "The Marx Problem"?Shouldn't an old dynamic of capitalism that was discussed by many other economists, including William Petty in the 17th century and Adam Smith in the 18th century, be attributed to someone else besides Marx? Surely one of Marx's more original contributions to economics should be given such an impressive title.

How can we explain Pollin's anemic treatment of Marx? After all, Pollin studied with Paul Sweezy, and even wrote a nice retrospective on Sweezy recently. (See http://www.counterpunch.org/pollin03062004.html)

There is no mention of exploitation, or the tendency of competition to lower the rate of profit, perhaps precipitating a crisis, nor of anything like `dialectical materialism', themes which loom large in the Marxian literature. One is tempted to conclude that Pollin has not read much beyond "The Communist Manifesto", and perhaps not even to the end of that.

Indeed, Pollin goes into considerable detail in discussing the rate of productivity growth in the U.S., showing that for substantial periods of time, including much of the 1980's and 1990's, the rate of productivity growth was increasing, while wages were in fact falling. Pollin notes that rising productivity does not guarantee higher wages.
This is all especially interesting in the context of what Marx calls `the rate of surplus value', which is frequently called simply the rate of exploitation: e = s/v, the surplus value divided by the value of labor power which the worker receives as a wage. This rate of surplus value is similar to the rate of productivity used in the mainstream
economics literature (let us hold aside for the moment the price / value distinction and other esoteric points). It is clear from the above that the rate of exploitation may rise even as wages fall -- indeed, Marx argues that this is a major tendency of the capitalist class process. However, the rate of exploitation may rise when wages remain constant, if there is an increase in the intensity of labor. The rate of exploitation may rise even if wages rise, if the increase in the intensity of labor outweighs the effect of the wage increase.

Even when discussing third world sweatshops, Pollin does not use the concept of surplus, nor discuss exploitation, except in the most general of terms, and always to mean wages that are `too low', never to mean the problem of someone who did not produce surplus value who appropriates that surplus value -- Marx's definition of
exploitation. The lack of understanding of class and exploitation seriously impairs Pollin's ability to clearly explain the sources of inequality in the U.S. economy in relation to globalization.

Pollin is quite good when he discusses and critiques mainstream economists' glowing treatment of the economic performance of the 1990's. His discussion of the causes of the stock market boom, which, as he notes, is heavily influenced by the work of Lawrance Evans' "Why the Bubble Burst", is also quite good. But do not expect more than
a liberal view of how to reform capitalism.

Pollin ends by discussing what we need, in the words of Robert Heilbroner: `a slightly imaginary Sweden' -- meaning, of course, a highly-regulated market economy overseen by a democratic government. The reader cannot help but wonder, are there no new ideas? Are we completely out of fresh perspectives? If one is searching for something that could perhaps revitalize popular movements across the globe with a new vision of how to create a better society, my advice is, keep looking, but if one is searching for a solid liberal critique of the excesses of the roaring 90's, this is it.

Settling Accounts
Clinton boosters have not been shy about touting the Arkansas playboy's economic record while in office. After all, didn't he balance the budget after years of stunning deficits. And didn't unemployment stats fall to near record lows, with negligible inflation, no less.Wasn't capital also included, with equity prices rising to record highs. Yeah, good times for everyone, courtesy our 42ndpresident. Maybe his zipper had occasional problems, but the economy didn't.

Anyone looking to get beyond the hype with a real take on those years should pick up Pollin's nifty little scorecard. Sure, it's filled with graphs and stats, but how else can the hype be debunked without them. They put the record in historical perspective, and what comes out is not nearly so impressive as what went in. If you feel that somehow you were no better off in 2000 than you were in 1993, don't feel alone. In fact, the Clinton yacht left most of us behind, as the big picture shows. One thing for sure, Pollin will not be on the DLC's list of 2007 must-read's. ... Read more

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Economics and the Global Environment investigates if and how environmental resources, such as global climate, genetic diversity, and transboundary pollution can be managed in an international system of sovereign states without a Global Environment Protection Agency. It also considers traditional international economics--theory and policy--and explores how they can be expanded to accommodate environmental values. Until recently, trade theory and trade policy neglected pollution and environmental degradation. This situation has changed dramatically, and the controversial and corrosive issues of trade and the environment are given careful analysis. ... Read more

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Traditionally the international economics course has primarily been aimed at students working on an economics major.Today, a broad range of courses in global economic issues and policies are drawing students from a number of disciplines, such as accounting, marketing, political science, and business.This well-known author team created Global Economic Issues and Policies to address the growing needs of students that might experience this subject for the first time.The goal of the text is to emphasize current public-policy issues, which will be used to illustrate essential concepts of international trade and finance.The authors focused their theoretical discussions by staying within the guidelines of the basic economic principles. ... Read more

Customer Reviews (3)

Horrible
Horrrrible quality! The seller said it was in quality but it wasn't! The spine was broken and there is ALOT of writing inside!!

Quick response
Textbook product...but shipper had great response,arrived in outstanding condition and saved me a ton of money compared to other sites.

Very Impressed
I was pleased with this transaction. They were very fast with shipping it out and it was as they said it would be. I would definitely buy from them again. ... Read more

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Clever arguments based on totally flawed premises
The trouble with this book is that the premises are completely false. There will be no global warming. This does not mean that there are not many issues to tackle on this planet, the first one, in my opinion, is getting rid of banksters, Timmys and the likes. When we get some more sense, we can spend time on the far future.
In other words, there are more pressing matters.

A Must-Read for the 21st Century
To start off with, I must say that if we were to decide to elect a world government at some point in the near future and author Cleo Paskal ran for office I would not only vote for her, I would offer to be on her campaign team. The depth and breadth of her grasp of the coming effects of what she calls 'Environmental Change' (a much broader and more appropriate term than the more commonly used 'global warming' or 'climate change) is phenomenal.

I learned so much in this relatively short but very dense and impeccably researched book that put much of what I read in the news into perspective. I also benefited from the crash course in geopolitics that she delivers and appreciated her ability to hold both macro and micro-perspectives of the changes that have occurred in our past and that are to come in the future.

Her chart on page 244 is a must-read for anyone in the world who has a position of governance or influence. It is a brilliant synthesis of four aspects of preparedness for the potential hazards of the environmental changes that we are in the middle of and can expect more and more of. She describes three aspect of preparedness: 'Reinforce, Rescue, and Recovery' or preparation FOR potential disasters, planning for rescue when they occur, and the repair and cleanup afterward (which of course includes 'reinforce' in the event of another disastrous event). For each of these three aspects, there are four segments of society that must be involved and act according to their domain: Governments, the Private Sector, Society (NGO's, faith-based groups, community organizations, neighbourhoods, etc) and the Media. She goes on to give examples of how some nations have excelled in some areas but come up short in others.

Western nations have a complacency that some other lesser-developed nations do not have and this could put us in a very bad position if a disaster happens (she cites Hurricane Katrina in New Orleans).

One could apply this chart to the recent Haitian earthquake and it is easy to see where Haiti excelled and where they came up short (obviously in the 'reinforce aspect)

Cleo Paskal believes that we should be proactive rather than reactive in anticipating environmental change. She referred, for example, to the effects of thawing permafrost and the damage that is already causing current infrastructure. For example, rail lines built on permafrost are buckling under the thawing earth, something not previously accounted for that MUST be accounted for as new infrastructure is built. This was something that I'd not thought of before.

I could type pages about this book, how informative and enlightening and intelligent it was and it's ability to open my eyes to the possible opportunities and potential difficulties we are going to be facing as communities, nations and global citizens. I think the chief benefit for me, having read many books on this topic previously, was the global perspective, the concern with 'environmental change' as opposed to just carbon emissions, which many other books on this topic focus on and the influence of geopolitics on world events. The concept of nationalist capitalism that the author describes (China for one practices this) was very illuminating as well.

This book was not written to incite fear but rather to inform in a broad sense and provide very clear and practical prescriptions so that we can weather the upcoming environmental storms as well as we can. This is why I hope that anyone and everyone who has some 'clout' on whatever scale gets to read it and digest the ideas therein and hopefully help guide our good ship planet earth into a long future.

(I have also recently read Stewart Brand's newest book "Whole Earth Discipline: an Ecopragmatist's Manifesto" and enjoyed it immensely. It's focus was on the potential of technology to help us adapt to environmental change so a positive, although very different, companion to this book if you enjoy this topic. As a very vocal environmentalist since the sixties (and author of the Whole Earth Catalogue) it was very interesting to hear him retract some of his former views based on new knowledge).

eye opening
important read for any person. information need in our world. more to saving the planet beyond your prius parked out front...

Herding Cats
The strength of this book lies in Paskal's capacity to relate a broad set of disparate and dynamic physical and social scientific findings into a coherent projection about the future. She does a surprisingly good job of herding cats. This well-crafted projection calls for an immediate set of policy responses which make sense. Because of the urgency of the writing andthe author's sense of humor, this book is a page-turner. I recommend it to academics and non-academics interested in the relationship between international law and the use of force.
-Noah Weisbord, Visiting Assistant Professor of Law, Duke Law School ... Read more

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Humanity is risking the health of the natural environment through a myriad of interventions, including the atmospheric emission of trace gases such as carbon dioxide, the use of ozone-depleting chemicals, the engineering of massive land-use changes, and the destruction of the habitats of many species. It is imperative that we learn to protect our common geophysical and biological resources. Although scientists have studied greenhouse warming for decades, it is only recently that society has begun to consider the economic, political, and institutional aspects of environmental intervention. To do so raises formidable challenges of data modeling, uncertainty, international coordination, and institutional design.

Attempts to deal with complex scientific and economic issues have increasingly involved the use of models to help analysts and decision makers understand likely future outcomes as well as the implications of alternative policies. This book presents in detail a pair of models of the economics of climate change. The models, called RICE-99 (for the Regional Dynamic Integrated model of Climate and the Economy) and DICE-99 (for the Dynamic Integrated Model of Climate and the Economy) build on the authors' earlier work, particularly their RICE and DICE models of the early 1990s. They can help policy makers design better economic and environmental policies. ... Read more

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An excellent cutting edge book on a vital issue.
The scientific community has developed an overwhelming concensus that global warming is occuring, and is caused at least in part by human activity.William Nordhaus has led the way in studying the potential economic cosequences of global warming, and this book should be considered essential reading for those who are more than a little interested in topic (and shouldn't we all be?).Nordhaus describes past work on the economic costs of global warming, uses a summing-up approach to arrive at estimates of damage costs for greenhouse gas emissions, then compares these results to abatement cost estimates for various policy options.This allows cost-benefit analysis to inform the reader and policymakers about the economic effectiveness of different responses to the problem of global warming.

While some people may question the doom-and-gloom scenarios of activists on this issue, the general criticism leveled by economists critiquing Nordhaus' past work is that he has been, if anything, too conservative in his approach and his assumptions.In the present work, Nordhaus has reduced the rate of discounting for more distant future economic values, increased the range of costs considered, and increased the complexity of his model, thereby strengthening the results of his analysis.

The ideal reader for this book will have some background in economics and statistical analysis, allowing him to fully appreciate the quality of Nordhaus' work, but readers less schooled in these disciplines will be able to glean much valuable information from Nordhaus' approachable descriptions of the problem, the analysis, and the conclusions.Again, William Nordhaus is the acknowledged leader in researching costs of global warming."Warming the World: Economic Models of Global Warming" should find its way to college classrooms and private bookshelves alike.

Replace assumption with knowledge.
The author assumes as factual the uses of ozone eating chemicals and destruction wrought by emissions of trace gases. Hence the possibility opens up to discuss the tremendously complex ways in which the problems need to be addressed. It will come as a complete surprise to both the author and the unsuspecting reader that there are no problems which need such complex and costly remedies. There is no gain in sacrificing the public's wealth on avoiding risks which do not exist. All the money spent contributes to is the material well-being of those involved in addressing the man-made catastrophe predictions. This volume is long on words and short on intellectual honesty. ... Read more

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Wilk and his colleagues draw upon their own international field experience to examine how food systems are changing around the globe. The authors offer a cultural perspective that is missing in other economic and developmental studies, and provide rich ethnographic data on markets, industrial production, and food economies. This new book will appeal to professionals in economic and environmental anthropology: economic development, agricultural economics, consumer behavior, nutritional sciences, environmental sustainability, and globalization studies. ... Read more

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Speed is not the Only Issue
I am the editor of this book, so this is not an unbiased review by any means. This is indeed a collection of academic papers, presented at a conference, which were edited to make them work together as a book. I worked very hard to make sure the papers are free of jargon and are written in a style which should be accessible to any educated reader.

It is no news that there are some serious problems with our global food system. Not only are there a lot of hungry people on the planet (still over a billion), but now the number of severely overweight humans is about equal to the number who go to bed hungry at least a few times a week. Farmers everywhere are in trouble, and the quality of the food we are all eating is questionable at best. So what is the answer? How do we fix it?

The Slow Food movement has a very attractive answer, and they have been effective in getting a lot of people to think about the alternatives to mass-produced factory foods, about returning to food of high quality made by people who care. Most of the authors in this book are sympathetic to the goals of slow food. But that does not mean we should suspend our critical thinking either, and many of us wonder if slow food is really another 'Arts and Crafts' movement, if it really addresses the needs of poor people and problems of justice and cultural diversity.

So the papers in this book ask tough questions, and in the end we try to redefine the issue. Quality food is more than an issue of slow vs fast. ... Read more

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"Aspen Policy Books" is a series devoted to developing new thinking on U.S. national security policy. This book, a collection of papers prepared for the 2009 summer Aspen Strategy Group conference, addresses the critical intersection of the global financial recession and its potential impact on America's foreign policy and national security. The authors explore the possible shift in global power, the changing relationship between the U.S. and China, and the impact on America's development policy. They also assess the capacity of domestic and international institutions to respond to the crisis. ... Read more

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