Economics and Finance

This book brings together scholars from the fields of politics, philosophy, sociology, anthropology and economics, to explore pathways towards implementing a Basic Income in Australia. It is the first book of its kind to outline avenues for implementation of a basic income specifically for Australia and responds to a gap in the existing basic income literature and published titles to provide a distinct standpoint in the exploration of basic income within the Australian contemporary policy landscape. The first section of the book outlines some of the continuing substantive and philosophical issues regarding BI implementation. In the second section of the book, authors offer practical strategies and models for progressing BI in Australia.

• Offers a comprehensive discussion of all the important aspects of the Basic Income debate for academics, policymakers and interested individuals
  
• Compares Pilot Projects and Basic Income experiments across the world, addressing case studies from Canada and the USA, Brazil, Iran, Namibia, India, Switzerland, Finland and The Netherlands
• Assesses the differing effects of Basic Income schemes and Basic Income in 5 key areas: employment market effects, social effects, economic effects, ecological effects and gender effects

Global developments in basic income have reinvigorated political debates on the necessity of progressing to universal basic income implementation. Basic income is a powerful strategy for addressing poverty gaps and growing inequality. This book provides new insights and strategies from an Australian political economy perspective to respond to implementation challenges and distributive justice. The book positions the disability dimension and disability pensions in relation to basic income to explore strategies for strengthening universal provisions. It illustrates the need for socially just conditions and adequate financing to underpin redistribution as a way of safeguarding the sustainability of basic income.

This book examines the evolution of basic income policy and research in advanced economies and is divided into two parts. The first section considers the development of basic income as a social policy initiative in advanced (OECD) nations from the 1960s to today.  It reviews what the negative income tax experiments accomplished, their limitations, and what they can lend to the design and implementation of basic income pilots or a full blown basic income program today. It also considers important developments and research in poverty and economic inequality and in technological change and labour market adjustment over the last half century. The second section focuses on the Canadian case, where the prospects for basic income are perhaps among the most promising. In addition to a review of Mincome and its lessons and limitations, this section considers important developments in poverty research by the Economic Council of Canada and the Canadian Senate in the 1960s,attempts at welfare reform, and the policy initiatives to develop a basic income for elderly Canadians that has endured to this day. Many of the important social and technological developments that are reviewed in the first part will be discussed in more detail with specific reference to the Canadian case. The evolution of the important policy innovations―the National Child Benefit and its successors and the Poverty Reduction Strategy―are outlined in detail and linked to other, more modest, income support initiatives such as the federal sales tax credit that provide a potential foundation for a comprehensive basic income plan in Canada.  Research, including recent microsimulation studies of a basic income, are critically reviewed.  Although the COVID-19 pandemic has increased interest in basic income to support those hardest hit, the book argues for careful design of basic income policies in its aftermath rather than simplistic adoption of emergency pandemic measures.   

This book is Karl Widerquist’s first statement of the “indepentarian” theory of property, called, “Justice as the Pursuit of Accord” (JPA). It argues the natural-rights-based arguments for unequal private property have failed to establish that institution as right. It is a legal privilege, inconsistent with the maximum equal freedom from interference. The book discusses how to establish and maintain a property system that best promotes freedom from interference. Paying taxes and obeying regulations is part of the purchase price of the right to control, use, or use-up any good made partly out of natural resources (i.e. all goods), because doing so interferes with people who control, use, or use-up fewer natural resources. A sufficient portion of that tax revenue has to be redistributed in the form of a Universal Basic Income to ensure the property system is in the interest of everyone.

Although modern society is a global one, centered on the economic ideology of neo-liberalism, the negative effects of social polarization caused by this are quite severe. It is also urgent to come up with alternative solutions to the problems of labor reduction and wage labor. Moreover, the expansion of productivity through collaboration between humans and artificial intelligence also presents a challenge. An interdisciplinary study on the meaning and restructuring of labor is therefore needed.

This edited volume, the third in a three-volume set, discusses implications of The Fourth Industrial Revolution (4IR) in Africa. By rebuilding natural ecosystems, linking billions to digital networks, and better managing assets, the world may be able to undo the damage done by the industrial revolutions. There are, however, significant concerns that institutions will not be able to adapt, that governments will not adopt and regulate new technologies to reap their benefits, that power shifts will result in serious new security threats, that inequality will increase, and that societies will break apart. Written by an international panel of experts, analyzes the potential of smart technology across sectors and industries in Africa to bring about long-term, sustainable growth.  

The book Post-Independence Development in Africa: Decolonisation and Transformation Prospects revisits the development debates and development realities in Africa. This is achieved by offering theoretical comments about post-independence development in Africa and by providing historical details pertaining to the development approaches adopted in Africa immediately after independence in the 1960s and mid-70s. Sitting at the intersection of two sets of scholarly literature, namely; literature on development and literature on development discourses and practices in Africa, the book comprises a mixture of detailed sector-specific accounts of the status of development on the continent. The chapters in the book also contribute to clarifying how the two strands of literature intersect using several case studies across Africa.

The second in a three-volume series, this edited volume discusses post-independence economic inclusion in selected African countries. While human development indices rise and poverty rates fall across the African continent, facilitated by recent technological and innovation development which reaches previously inaccessible regions, indicators continue to lag in several crucial areas. Economic and social inclusion, therefore, remains at the forefront of development discussions across the continent. Using a variety of case studies underpinned by multidisciplinary research approaches, the chapters in this book explore a wide range of economic and financial inclusion issues from all aspects; from benefits and challenges to the steps that need to be taken to improve the level of economic inclusion on the continent. Governments, development agencies, non-governmental organizations with a bias toward development, students, and university lecturers will all find this book interesting.

This Palgrave Pivot second edition argues that basic income is, in fact, affordable. The contributors approach the topic from the perspectives of three different countries—Canada, Switzerland, and Australia—to overcome objections that a universal program to keep all citizens above the poverty line would be too expensive to implement. They assess the complex array of revenue sources that can make universal basic income feasible, from the underestimated value of public program redundancies to new and so far, unaccounted publicly owned assets.

This book addresses the most widespread forms of financial crime today, namely corporate fraud, corruption, tax fraud, the shadow economy, informal entrepreneurship, money laundering, international informal capital flows, cybercrimes, and cryptocurrency scams. Given the rapid rise of digitalization, especially due to the COVID-19 pandemic, there has been a huge surge in financial crime, especially in the form of cybercrime, which affects people’s financial security. Hence, the aim of this book is to stress the connected nature of financial crime and good governance, in order to achieve the most positive, sustainable development of society.

This book presents an original interpretation of the building history of London in terms of its evolving political economy. Each of the seven ages of the city from the Roman to the modern, are portrayed through their monumental buildings, concentrating in particular on their symbolic purpose as expressions of the status and authority of those who built them. The concluding synthesis explores how these successive layers of building can be seen to be a product of the evolving class structure, the changing distribution of wealth, and the shifting struggle for political power within the city and the nation. Although the focus is on London, the analysis is applicable to any urbanized economy at any stage of development.

This book offers unique insight into London as a landscape of power and as a city that has assumed a succession of identities over the last two millennia. It will be relevant to students and researchers interested in urban economy, economic history, and thepolitical economy.

This Handbook discusses the use of public-private partnerships in law enforcement and security. Written by international experts across multiple disciplines, chapters include case studies and cross-sectional industry-wide studies of private security performance in comparison with public police and collaborated experiences of the two sectors. The Handbook uses existing experiences and public economics to suggest how to improve security and social welfare through greater competition and cooperation between public and private security. This volume provides an integrated framework to assist policymakers in both public and private agencies. This Handbook will be an important reference for scholars in public economics, public administration, criminology, and criminal justice, as well as professionals and policymakers in the public and private sectors.

Are you a current or aspiring Ph.D. student determined to overcome the challenges that lie ahead? Do not let statistics discourage you, because this comprehensive guide is here to help you defy the odds and reach the pinnacle of academic achievement. With failure rates hovering between 40% and 50%, it is crucial to equip yourself with the right skills to ensure your success.

In this book, you will embark on a transformative journey toward becoming a confident and accomplished scholar. This book takes a meticulous approach, addressing the six essential skills every Ph.D. student must possess: research, writing, presentation, time management, persistence, and collaboration. Each chapter delves into the significance of these skills within the Ph.D. process, explores the necessary competences, and provides practical strategies for their acquisition.

Armed with numerous tips, tricks, and actionable advice, this invaluable resource empowers you to optimize your performancethroughout your Ph.D. journey. Within these pages, you will discover how to assess your current skill set, identify areas for improvement, and develop a personalized academic development plan. With the aid of many informative figures and tables, you will find quick and easy access to expert guidance.

Do not let uncertainty and self-doubt hinder your progress. “Unlocking PhD Success” is your roadmap to triumph, supporting you every step of the way as you conquer the challenges of doctoral studies. Embrace this book as your trusted companion, and unlock your full potential as an exceptional Ph.D. candidate.

This book is about the crises of the world economy that have occurred from the 1970s to the present day. It makes the specific case that the global economy has experienced six crises during this 50-year period. Crises of the global economy are periods of substantial slowdown in world economic activity—as measured by investment, industrial production, trade, or unemployment—in which many national economies are technically in recession. To pose the existence of crises of the global economy implies that the world economy is a real entity with its own dynamics; it implies also that the usual approach that views national economies as the appropriate units of economic analysis has major limitations. The author provides data illustrating the global and regional manifestations of these crises of the world economy, elaborates on the concepts of world economy and economic crisis, and discusses the theories that have been used to explain them. The book shows how these recurrent global crises are discrete, countable phenomena, distinct states of an entity that can be appropriately referred to as the world or global economy, or world capitalism.

This book explores multifaceted dimensions of economic crisis management including strategies and trends post-crisis. It examines the constraints and opportunities shaping the future of economics, social science and policy making, providing various economic models and paradigms. Featuring the best papers presented at the 2022 International Conference of Economic Scientific Research - Theoretical, Empirical and Practical Approaches (ESPERA), this book explores topics of highest interest such as energy crisis, inflation, fiscal and monetary policy, food security, safety and sustainability, the future of work, global financial systems, sovereign debt sustainability, digital currencies, supply chain disruptions, and cybersecurity, among others. Through the discussion of these topics, this book bridges the gap between theory and practice in economic crisis management and it is useful for scholars, researchers, academics, and policymakers.

This book analyses contemporary and future conditions of global finance and capitalism in an age of catastrophe. It illuminates the links between various crises that have beset the world economy in recent decades and sets these in philosophical context, drawing on the work of Marx, Bataille and Baudrillard to forge new understandings of the impact of capitalist hegemony on society and nature.

The book introduces the concept of the ‘over’ as a lens through which to reflect on capitalist excess and its negative consequences, such as over-accumulation of goods, over-pollution of the environment, and over-speculation of capital. In particular, it shines a light on the trends of financialization and stagflation, with chapters examining increasingly embedded features of the world economy such as hyper-inflation, the dominance of advanced economy central banks, the phenomenon of repurchase agreements, new asset managers for the ultra-wealthy and index funds to show how capitalist structures continue to drive inequality, ecological breakdown, and geopolitical precarity on a global scale. With a rigorous philosophical and theoretical framework, this book will appeal to political economists, Marxist economists and scholars interested in theories of capitalism.

This book, the first of two volumes, comes to life through the transcription of captivating classroom lectures spanning several years, providing a comprehensive overview of the core topics within Austrian economics. With a focus on microeconomics, it explores foundational ideas within Austrian economics, including human action, entrepreneurship, competition theory, and price theory, to give readers a deep understanding of each topic unravelling complex economic concepts with clarity and precision. Economic uncertainty, rationality, marginal utility, productivity, exchange interactions, valuation, price determination, and monopoly are also discussed. Through a seamless blend of theory and real-world examples, readers are invited to challenge conventional wisdom and explore the implications of Austrian economics on society and individual freedom.

This book offers an accessible and engaging synthesis of Austrian economics that redefines the topic within modern economics. It will be relevant to students, teachers, and scholars of many other academic institutions around the world, interested in the approach of the Austrian School of economics and its relevance in today’s ever-evolving world.

Democratic political systems are often thought to be preferable to all others for supporting liberty. Around the world, nations that are more democratic tend to be freer across various aspects of life and human experience. This book undertakes a social scientific analysis of this claim and finds it to be wanting.

The reality of democratic systems does not adhere to popular rhetoric. One of the key reasons for this is that our system is an entangled system, one in which the realm of the political and commercial are so intertwined that they cannot be easily separated. Businessmen have political interests, and politicians have commercial interests. The implication of this entanglement is that alleviating the problems that emerge in democratic systems is not a simple matter of rolling back damaging interventions. Due to the logic of entanglement, returning to a “free market” is not possible in most cases.

The authors pull economics back to its classical roots to analyze the social orders that best allow people to live together. The world is not constantly aiming at placidity, as the prevailing economics of equilibrium would have us think. We live in a world of change and turbulence, so our social science requires a framework that deals with this turbulence robustly. Classical economists beginning with Adam Smith sought to uncover which forms of human association allowed us to live better together. The authors explain Smith’s observations, asking the same sorts of questions of readers today. Because the baseline assumption of entanglement does not allow one to divide the world so clearly into two distinct structures, the authors parallel Smith’s approach, focusing on forms of association rather than political or commercial structures. Focusing on human association, the authors help readers uncover the manifold structures humans have devised that allow them to tame the turbulence and live lives more harmoniously with others.

This book analyzes the competitiveness of European regions and presents forecasts for 2030 and 2100 under different climate scenarios. It examines the economic impact of climate change from a regional economic perspective and sheds light on various factors that influence regional competitiveness and development. Furthermore, the authors derive reflections on EU climate policy and policy recommendations from the empirical results, which will help both scientists and regional decision-makers to implement policy measures and develop successful adaptation processes for the regions and countries of the EU to climate change.

This book, the second of two volumes, provides a comprehensive overview of the core topics within Austrian economics. With a focus on macroeconomics, it explores foundational ideas within Austrian economics, including monetary and banking theory, law, capital theory, business cycles, the relationship between the market and the state, and interventionism. These ideas are contextualized within the history of economic thought, in particular the work of Ludwig von Mises. The Keynesian system, reform to the banking system, wages, social order, fiscal policy, and the political economy of ethics are also discussed.

This book offers an accessible and engaging synthesis of Austrian economics that redefines the topic within modern economics. It will be relevant to students and researchers interested in Austrian economics and the political economy.

This book offers a deep-dive analysis of the period of globalization from the late 1980s to the present through the lens of long wave theory. It traces how the end of the Cold War transformed the base of the global economy, doubling the working-class producing profits, and its superstructure, reestablishing US monopolar dominance. It explores how the ‘hyper-globalization’ of the period up to 2008 has transitioned into a new long wave of de-globalization, stagnation and multi-polar conflict. The book focuses particularly on the looming and actual wars – in trade, tech, and military terms –intertwined with world economics as the twenty-first century progresses.

The book addresses three overarching themes: globalization versus de-globalization, great power conflict versus cooperation, and trade/tech integration versus competition. It examines the shift from stagnating conditions in the late 1970s to the resurgent hyper-global capitalism of the 2000s after the integration of the former Centrally Planned Economies (CPEs) into the world market, leading to, but not ending with, the 2008 Great Financial Recession. Globalization is analysed in depth at both a national and global level, with insights on the diverging paths of US and China forming a central focus of the chapters. The book provides a comparative analysis of US and Chinese economic development and discusses how globalization inevitably produced de-globalization: reversing trends towards the integration of production, trade and finance that have defined the world economy over the last three decades. This book will be of interest to scholars and students in areas including political economy, macroeconomics, war studies, international relations and more.

This book examines the presence of stochastic and deterministic convergence in ten series of greenhouse gases, aerosol precursors, and aerosols across 29 industrialized and emerging countries from 1820 to 2018. The author utilizes the Panel Analysis of Nonstationarity in Idiosyncratic and Common Components (PANIC) method for the empirical exercise. The analysis reveals strong evidence of stochastic convergence patterns in the series of log per capita emissions for black carbon, carbon monoxide, ammonia, non-methane volatile organic compounds, and nitrogen oxides, demonstrated by the existence of pairwise cointegration among individual series.

Regarding deterministic convergence, the book provides compelling evidence of convergence in per capita emissions for black carbon, carbon monoxide, ammonia, non-methane volatile organic compounds, nitrogen oxides, and sulfur dioxide. There is also moderate evidence of convergence in per capita emissions for carbon dioxide, nitrous oxide, and organic carbon, and weaker evidence for methane emissions.

The findings have significant implications for environmental policy, particularly in light of the observed deterministic convergence in emissions.

This book contains eight empirical applications of the median voter model. There exists a large literature in economics explaining public policy outcomes using the median voter model.  The papers in this volume contribute to our understanding of how the institutional context of voting matters for collective decision-making. The authors of this volume apply the median voter model in a variety of different contexts, from testing the interest group orientation of government spending to voting by members of the National Collegiate Athletic Association. Chapters also focus on the political economy of: state-level psychedelic drug legalization, bank entry restrictions, public pension reform, state renewable portfolio standards, automobile insurance regulation, and profits in the dialysis market.

Neoliberalism is a politico-economic framework that emphasizes deregulation, free trade, and minimal government intervention in the economy; further, it suggests that social issues are best addressed through market mechanisms. Responsibilization occurs when individuals internalize responsibility for addressing problems caused by large social structures, and is a salient instrument in the inculcation of neoliberal ideology. This monograph examines ethical consumption within the context of cultural neoliberalism. Using a qualitative approach, the book is organized around a series of interviews with self-identified ethical consumers and their experiences of responsibilization. The chapters explore the spaces in which these consumers deploy their efforts, the ways they attempt to shape the market through their economic agency, the ideologies that inform their approach, and the way they conceptualize their own identities as ethical consumers. Revealing the dilemmas intrinsic in the undertaking of ethical consumption, including instances of role strain, role conflict, and the frustration and sense of futility consumers can feel in the face of the global capitalist juggernaut, this volume provides a nuanced view of the behavior of the ethical consumer. As such, it will be of interest to researchers and students across the disciplines of economics, sociology, politics, and business.

This edited volume examines the legal and economic world of the Romans through concepts, structures, and objects that reveal practices of standardization and localism. It explores the myriad ways in which the Roman Empire became an integrated political, social and economic system.  

Split across two volumes, the collection addresses the dynamic interaction between Rome and its provinces in developing institutions crucial to societal and economic development.  It challenges notions of uniformity, demonstrating how tensions between imperial standardization and local cultures could both drive innovative legal and economic practices and hinder empire-wide integration. The chapters explore broad questions from various disciplinary perspectives, including ancient economic history, law, papyrology, epigraphy and archaeology. Contributions cover diverse topics such as weights, measures, and coinage, legal practices, taxation, and cultural symbols. Each chapter investigates how, even as local communities adopted practices associated with Rome as a ruling power, local customs could, in turn, influence practices across the Empire. 

By illuminating these reciprocal relationships, this book recontextualizes Roman standardization—not merely as a tool of imperial domination but as evidence of diverse socioeconomic practices and cross-cultural exchanges. It will be a valuable resource for scholars of ancient economic history, classical archaeology, and ancient law, as well as anyone interested in the economy and culture of Ancient Rome.