Economy & Finance

A definitive reframing of the economic, institutional, and intellectual history of the managerial eraThe twentieth century was the managerial century in the United States. An organizational transformation, from entrepreneurial to managerial capitalism, brought forth what became a dominant narrative: that administrative coordination by trained professional managers is essential to the efficient running of organizations both public and private. And yet if managerialism was the apotheosis of administrative efficiency, why did both its practice and the accompanying narrative lie in ruins by the end of the century? In The Corporation and the Twentieth Century, Richard Langlois offers an alternative version: a comprehensive and nuanced reframing and reassessment of the economic, institutional, and intellectual history of the managerial era. Langlois argues that managerialism rose to prominence not because of its inherent superiority but because of its contingent value in a young and rapidly developing American economy. The structures of managerialism solidified their dominance only because the century's great catastrophes of war, depression, and war again superseded markets, scrambled relative prices, and weakened market-supporting institutions. By the end of the twentieth century, Langlois writes, these market-supporting institutions had reemerged to shift advantage toward entrepreneurial and market-driven modes of organization. This magisterial new account of the rise and fall of managerialism holds significant implications for contemporary debates about industrial and antitrust policies and the role of the corporation in the twenty-first century.

This book presents how Chinese multinational enterprises are engaging with, defining and implementing corporate social responsibility (CSR) reporting practices under the Belt and Road Initiative. It is suitable for researchers and postgraduate students in the fields of CSR, accounting, and developing countries, especially China.

In this landmark book, Scott Page redefines the way we understand ourselves in relation to one another. The Difference is about how we think in groups--and how our collective wisdom exceeds the sum of its parts. Why can teams of people find better solutions than brilliant individuals working alone? And why are the best group decisions and predictions those that draw upon the very qualities that make each of us unique? The answers lie in diversity--not what we look like outside, but what we look like within, our distinct tools and abilities. The Difference reveals that progress and innovation may depend less on lone thinkers with enormous IQs than on diverse people working together and capitalizing on their individuality. Page shows how groups that display a range of perspectives outperform groups of like-minded experts. Diversity yields superior outcomes, and Page proves it using his own cutting-edge research. Moving beyond the politics that cloud standard debates about diversity, he explains why difference beats out homogeneity, whether you're talking about citizens in a democracy or scientists in the laboratory. He examines practical ways to apply diversity's logic to a host of problems, and along the way offers fascinating and surprising examples, from the redesign of the Chicago "e;El"e; to the truth about where we store our ketchup. Page changes the way we understand diversity--how to harness its untapped potential, how to understand and avoid its traps, and how we can leverage our differences for the benefit of all.

How the euro survived a series of crises, and how to make it more resilientThe euro has survived crises unimagined at its founding: the financial meltdown of 2007-2009, the sovereign debt crisis of 2010-2012, the pandemic, and the Russian invasion of Ukraine. The European Central Bank fought these crises with dramatic policy innovations, buying up vast amounts of debt, and providing large loans to banks. But now everyone expects the ECB to intervene routinely, and the euro is more fragile as a result. Crisis Cycle recounts this history and offers recommendations for restoring a durable monetary union. Monetary and fiscal policy are intertwined, especially in a currency union like the eurozone. Member states can be tempted to borrow and spend too much, and then count on the ECB to rescue them by printing money to buy their bonds. To avoid these disincentives, the ECB was founded with a narrow mandate: use interest rates to pursue price stability, and don't buy sovereign debt. Debt and deficit rules would keep countries from getting into trouble. The ECB's emergency innovations brought back these disincentives. How can the EU avoid larger and larger bailouts? The authors argue that Europe needs a a joint fiscal institution that can provide temporary help to sovereigns, a resolution mechanism so sovereign default is a motivating possibility, and bank reform that ensures sovereign default will not bring down the financial system. This timely book shows how to restore the euro's ambitious and effective founding framework. The unique group of authors combine extensive policy experience and authoritative academic credentials.

Examining why society should pool and spread the financial risk that individual families now bear.   Over the past sixty years, businesses and government have increasingly offloaded financial risk onto US households. The toll has pushed tens of millions of people to the financial breaking point, worsened social inequity, and jeopardized US democracy. In Sharing Risk, consumer advocate and scholar Patricia A. McCoy draws on the nation's traditions of risk sharing to argue that society should lift up families by pooling and spreading the financial risks that they now must bear alone.    Most policy discussions of financial stress on households look at the milestones of economic well-being in isolation: making ends meet, homeownership, quality health care, financing college, and a secure retirement. McCoy offers the first integrated examination of how risk sharing can enable families to realistically achieve all five goals without sacrificing one for another. She makes specific policy recommendations and shows how risk sharing, with its long and venerable history that includes Social Security and the Affordable Care Act, would provide economic well-being for all.

This book introduces readers to behavioral finance applied to wealth management. It explains essential behavioral biases and their damaging consequences including financial bubbles, and Prospect Theory. Additionally, it establishes fundamental rules for improving the structuring and protection of wealth. Despite its practical and didactic aspects, the book is accessible without sacrificing the depth of the subject. Aimed at students, asset managers, financial advisors, and investors, the book explores the behavioral approach on financial decisions and examines the psychology around investor behavior.

This timely and interdisciplinary book deals with urban marginality as a multi-faceted process of urban transformation that engenders a wide range of experiences world-wide.

The book provides an in-depth view into luxury Made in Italy, from historical roots, heritage and tradition to major forces of change and innovative, entrepreneurial adaptations in the twenty-first century.

This book argues that the prevailing view of colonialism needs to be rethought. It focuses on the experiences of the South Indian working class, large numbers of which came to Malaya in the early years of the twentieth century, emigrating from socially, economically, and environmentally inhospitable south India.

This book explores the relationship between China and international norms through the lens of The Belt and Road Initiative (BRI).

This book proposes that the solution to growing burden of carbon emission lies within the technology innovation as continued advancements in processes make businesses lean and smart.

This book analyses the progress, gains, and effects of Chinese overseas ports through in-depth and systematic studies of numerous cases in Europe and Latin America.

This book assesses the rapidly changing landscape of digital finance regulation. Focusing on the laws of banking-finance, tax, insurance, intellectual property and international commercial arbitration, it delves into the regulation of crypto-digital assets. A book of keen interest to scholars as well as legal practitioners.

This book develops a methodological framework for measuring the efficiency of regional integration and the integration profile of member states. It includes rich case studies, which offer a comparative analysis of ten integrations spanning four continents. The book shows the importance of regional economic integration in the world economy.

This book establishes the significance of carbon accounting in today's environmental management practices. It provides a comprehensive exploration of the subject, with a specific focus on the Chinese context and sheds light on how carbon accounting practices are being integrated into corporate and national strategies.

This book demystifies ESG by providing empirical insights from the unique perspective of China, shedding light on the impact of ESG on financial performance and corporate governance. It investigates the impact of environmental expertise, social variability, and board governance model on firm performance.

This book examines the current state of capitalism in relation to the advance of ICTs, considering the ways in which the rise of the internet has shaped capitalism - or otherwise - and the implications of our increasingly digital society for social capital and the possible forms of resistance to the problematic aspects of capitalism.

This book outlines the contours of economics grounded in real-world phenomena and experiences by outlining the foundations of a Grounded Economics. This book provides a consistent framework to grasp the economy as an unfolding process.

Taking up the concept of vulnerability, this book examines the gendered impact of market-based procurement practices.