Economic-union Books

As far as introductory economics texts go, Sloman is about as difficult as it gets. Nonetheless, it is very readable, and explains (relatively) difficult concepts in a straight-forward, lucid style. Also, it is an ideal text for those students planning to study economics further because within each chapter it has a 'basic' treatment of the issues at hand, and then follows it with an optional 'intermediate' treatment that builds upon the former one. This is an excellent idea in that it gives students the option of advancing far more quickly and easily than by using a 'standard' textbook approach. Further, the content is 'more intelligent' than in your average text - e.g., its chapter on general equilibrium contains material on Pareto Optimality (often left out of texts), and it has an entire chapter devoted alternative theories of the firm (always left out of texts).

In short, this text will challenge first year university students, but will also reward them with greater insight than will the average introductory textbook.

I concur with the assessment of Mr. Mariyani-Squire. This is an excellent text. Although quite challenging in places for an introductory text, the author organizes material in such a way that students can cover the basics and then extend/apply them. For students who want to go beyond the basics, the book provides additional material and illustrations. Particularly helpful are: the many sections throughout the book where concepts are listed in summary form; and the definitions of key terms printed at the bottom of each page. I use this in an International Baccalaureate (Higher Level) economics class with IB Diploma high school seniors in their second year of economics study. Since the book is written primarily for students in the U.K., it allows U.S. students to apply concepts using examples beyond their own country.

This was a interesting book,but it can come of a little dry ecspecially at the end. It is just Bobby Kennedy's version of how the committee got started and what happened.I was interested on both sides of the story so I'm also reading Jimmy Hoffa's autobiography which goes into the comittee as well.It's amazing how Bobby can makes some of the statments about crime that he does with the Kennedy's being so crooked themselves??

This is a marvelous peek inside Robert Kennedy's efforts against corrupt labor unions. I had long been intrigued with the whole RFK-Jimmy Hoffa "feud," so this was a treat for me. Robert Kennedy's writing style is at once humorous and pragmatic. He provides a detailed account of the inner workings of the McClellan Committee. Moreover, he meticulously describes the corruption within the labor organizations, with particular emphasis on Jimmy Hoffa. A word of warning: When I use words like "detailed" and "meticulously," I'm being serious. The book is a must for anyone interested in RFK, Jimmy Hoffa, the McClellan Committee, or American labor history; but someone who wants an action movie packaged as a book, will probably be disillusioned. Having said that, I loved the book. I highly recommend it.

This critical study of the euro, written by a respected French economist, should make sense to every trade union member. Throughout the eurozone, growth is weak, unemployment high and rising, and investment stagnant. Yet society needs full employment: without it, we cannot end all its by-products, poverty, crime, corruption, bad health, illiteracy, lack of skills. When workers are in work, they can prevent all these evils.
Rosa shows that unemployment is high because macro-economic policy, not Brown�s micro, supply-side, fiddling, decides employment levels, and the European Union has the wrong macro policy. Euro-fundamentalists, including the Labour Government, cling to a fixed overvalued currency - pound or euro - cutting real wages, revenues and growth, and raising unemployment. The resulting excessive interest rates deflate the real economy of production and inflate the casino economy of speculation.
In the 1930s, France clung to the Gold Standard and suffered hugely; Britain floated the pound, and did better. In the 1990s, countries like Britain that left the ERM grew faster and had lower inflation than France, which stayed in.
Capitalists argue that welfare spending and �labour market inflexibility� cause permanent �structural� unemployment, so you can only increase growth by raising unemployment enough to cut wages. Rosa demolishes this �Eurosclerosis� argument. He shows that in 1989, the last year before the Maastricht Treaty�s monetarism was imposed, the French economy grew by 4%, although welfare payments and the labour market stayed the same.
We need a policy for growth, of floating exchange rates and cutting short-term interest rates down to zero. The OECD estimates that in France, for instance, cutting exchange rates would add 2% growth, and cutting 2% interest rates by 2% would add 0.5% growth, creating 320,000 jobs a year.
Rosa notes that the euro is Europe�s worst mistake since deflationary policy turned the 1929 crisis into a decade of depression. He stresses that the euro�s economic failings don�t bother the EU�s leaders, because they expressly conceived it as an �economic� way to lock us into the single European state, since they know they could never do it through winning our democratic consent.

Excellent, Excellent, Excellent - The author provides the reader with an informative insight into why the EU is making a big mistake by adopting the Euro. The EU is clearly not an optimal single currency area yet political correctness has ruled the day. Without a strong political union the Euro is heading for failure and with a strong political union the EU is heading for the inefficiencies most smart multinational companies have long since abandoned. The Euro could become a perfect example of a good thing (free trade) taken too far by the feel good politics of the left trying to strong arm the rest of the world away from the dollar. This book is a must read for all interested in the Euro, but make sure you're not in a rush as the translation from the French can leave you scratching your head at times.

Asia and Europe are becoming more and more important to one another, and yet scholarship about their relations remains thin. This book fills an important gap, by offering a comprehensive and timely analysis of the economic linkages among the key protagaonists from the two regions. It is especially important for developing theoretically based understandings about the nature of regionalism and region-to-region relations, providing alternative readings from among key perspectives. Written in an elegant style and replete with detailed information and useful tables, this book is a must for those interested in Asia, Europe and the political economy of regional issues.

In a world economy dominated by Europe, North America and East Asia, competition and contention among the three regions (the `Triad') shape global economic relations to a significant extent. How the triadic relationships unfold in the future will have a major impact on the distribution of power, wealth and opportunity for the citizens of these regions, and for the world at large.

The economic relationship between the European Union (EU) and East Asia is becoming an important structural feature of the world economy, and Christopher M. Dent, Senior Lecturer in Economics and European Studies at the University of Lincolnshire and Humberside makes a commendable effort at drawing together the threads of the emerging EU - East Asian inter-regional tapestry.

Dent's latest book offers a thorough analysis of the present state of Eurasian economic relations, and their historical development, primarily in a post-war context. He examines bilateral, inter-regional and multilateral dimensions of EU - East Asia `economic diplomacy' with frequent reference to the wider triadic framework. Developments at the sub-national, state and regional level that influence the EU - East Asia economic relationship are identified.

In the concluding sections to most chapters, different theoretical perspectives from the field of international political economy are applied to enhance the reader's understanding of the substantive issues covered. The theoretical perspectives chosen from the field of international political economy - neorealism, neoliberalism, and Marxism - serve to highlight the strengths and weaknesses inherent in each approach.

The first chapter sets out the theoretical perspectives and introduces some of the economic themes echoed throughout the text. Following an overview of recent events up to 1998 in EU-East Asia economic relations, Dent details the development of `economic diplomacy' between the EU and the Association of Southeast Asian Nations (ASEAN), Japan, China, Taiwan and Hong Kong, and South Korea. These relationships are all subjected to a rigourous treatment, backed up with a good many statistical and economic data presentations.

The economic development prospects and future challenges facing the East Asian states are reviewed, with consideration to the impact and implications of the 1997-1998 financial crises that enveloped Asia. The role of regionalism in both East Asia and Europe, and the evolution of inter-regional co-operation mechanisms also are covered. The inter-regional dimension provided by the Asia-Europe Meetings (ASEM), is discussed, as are challenges related to its future development. The concluding chapter considers the future prospects of the EU-East Asia economic relationship.

Dent's principal argument is that the EU must give greater priority to the promotion of its economic relationship with East Asia, a relationship that could have a significant impact on the international economic system in the twenty-first century. As the weakest component of the triadic link, the EU risks future `geoeconomic marginalisation' as the transpacific axis endures into the twenty-first century. Dent argues that the EU and major East Asian powers therefore must assume greater responsibilities for managing the international economic order, in part to counter the continuing influence of the United States in the global economy.

The text demands a careful reading, as Dent has peppered important insights throughout the narrative. A short review cannot do the study justice, but his treatment of EU - China relations is noteworthy. Dent makes a convincing case that China's accession to the WTO will have an unprecedented impact on international economic relations.

Of relevance to the current effort to launch a new round of trade negotiations, Dent considers the EU-US initiative to include new issues (environment, investment, labour, etc.) traditionally regarded as matters of domestic economic policy as unwelcome by China. Given its sensitivity to managing its own internal affairs, and the existing suspicions among developing countries about the inclusion of new issues, China becomes a formidable force against the further extension of the multilateral trading system. Mr. Pascal Lamy, EC Trade Commissioner, has acknowledged this recently, and urged that a new round be launched if possible before the formal WTO accession of China is completed.

Dent also points out that it is likely China will request WTO dispute panels targeting the EU anti-dumping regime, and deploy other multilateral instruments to further open the EU market for its products. In this regard, China will be joining with other states in the region, such as Indonesia, which are becoming more determined to overturn the European and American anti-dumping regimes. It is clear that access to the EU textile and clothing market, among others, will be a flash point in the future.

He also takes note of the key role in Chinese domestic and foreign economic policymaking played by the provincial authorities. The internal dynamics of Chinese political economy are rarely highlighted in western policymaking circles, where it is still assumed that Beijing really does hold all the power cards. Dent, however, realises this is a flawed perspective and proposes an eyes-open approach to engaging in economic diplomacy with China. Brussels would do well to heed him on this point, and take his counsel on developing a more robust engagement strategy for reinforcing the EU in East Asia as a whole.

Students of International Economic Relations, and Asian and European Studies will find the volume offers insights to the challenges facing East Asia, and the potential role the EU can play in the region.

I appreciate the author of providing very valuable stories of the Dachen Withdraw and the crisis of Jinmen and Mazu in 1955 and 1958. This part of history is very little known to the people of Taiwan. Should the history textbook of Taiwan include more details of these events?

Chapter 4 "To the Nuclear Brink" in 1954 US considered the ultimate disposition of Taiwan and Penghus unsettled. One of the option Washington had is to place Taiwan under U.N. trusteeship. US considered the offshore islands just off the coast of mainland were legally Chinese territory. I never heard of these concepts until lately. When Chiang Kai-Shek authorized the use of the atomic weapons against his people on the mainland the US National Security Council members were speechless. KMT and CKS demonized CCP when I was in Taiwan. I guess that will make the killing more justly. It is interested to me that these events happened 50 years ago is revived again. I heard China does not want Jinmen and Mazu because they fear that Taiwan will move further away from China. Taiwan has no interest in Jinmen and Mazu either.

On page 149 in 1955 president Eisenhower learned that preference of Taiwanese, in order, is independence, reunion with Japan, joining with Communist China. The mainlander and CKS always consider the Taiwanese are the traitors, because of Taiwanese's affection with Japanese. CKS treated the Chinese in Manchuria as traitors too. When he dispatched the representatives to accept Manchuria from Soviet Union and Japan he did not allow any Manchurian to be the representative. I knew Manchurian were discriminated from the top government positions in Taiwan when CKS was in power.

This book is an example of how the end of the Cold War has helped American history be less "Americancentric". We think one thing, but along comes Chinese and Soviet sources that help us have a more balanced view of the past. The book traces the relationship between the U.S., U.S.S.R. and China from 1945-1972. It is well researched and well argued and for the most part balanced. I felt there could have been a little clearer discussion of what lead up to the Nixon visit to China in 1972, It still seemed to just happen. A must for those interested in the cold war, China and Soviet communism and the such.

This is am excellent book! It makes me very proud to be a member of IBEW Local Union 3. The story was written very, very well!!

Harry Van Arsdale, Jr's remarkable contribution to the history of New York City and the American labor movement is revealed in Gene Ruffini's new book. Harry Van Arsdale, Jr. was truly a "man of all seasons"; greatly admired by friends and foes alike for his ability to get many continuous leaders to work cooperatively for the greater good of the city and nation. Van Arsdale's well-honed ability to use his moderation, patience and personal relationships with such diverse personalities as Nelson Rockefeller, Martin Luther King, John F. Kennedy, and other labor leaders like George Meany, to achieve workable results is unmatched by his contemporaries in Van Arsdale's years of labor and civic leadership from the 1930's to his death at his humble home in Flushing, New York in 1986.

Anyone studying the history of New York must read this book, as Van Arsdale was the visionary not only behind many of labor achievements in the latter half of the 20th century, but many of the historic compromises of New York and American political life - from his victories in the Great Depression; to his fights against gangsters and communists; to his courage, and that of his union, Local 3 of the International Brotherhood of Electrical Workers (IBEW), in the face of false criminal charges; to his role in New Deal social reforms; to his personal interventions to save New York from economic collapse in the 1970s.

The book offers new detail, found no where else, of Van Arsdale's influential role in one news making event after another as well as new information on his relationships with every President from FDR (one of Van Arsdale's heroes), to his famous denunciation of Ronald Reagan for breaking the air traffic controllers union. The accounts of Van Arsdale's influence and struggles, with New York City's Mayors from Lindsay to Koch, who were often anti-union, alone makes this book vital reading for anyone interested in the City's politics over the past 40 years.

Modest and unassuming, Van Arsdale was unique as a labor leader; he did not simply build his union local (and other unions), but created a fraternity dedicated to a living "brotherhood" among working men and women in New York City. Van Arsdale's vision of brotherhood and his practical solutions to settling disputes between labor and management, to reaching agreement between political parties, and to ending fights between factions within his own union, would lead him to achieve not only good wages and benefits for his electrical union members and many other unions, but also broad educational and social programs. Throughout his tenure as a "giant" among American labor leaders, Van Arsdale emphasized that union workers had to not only keep up their expertise in their particular tradecraft but also needed formal academic credentials to bolster labor's role in developing the nation. He would go out of his way to encourage an educated workforce.

His early on organizing of Local 3 as a hybrid vertical/horizontal union is typical of his pragmatic approach to social and political problems. To this day this hybrid union model has served its members well and is emulated by labor organizers worldwide. Electrical workers in New York City revere Van Arsdale as a "saint".

The book reveals that at all times, and in all he did, he did so with an eye and a mind to benefiting every working man and woman. This important book chronicles the life of a most successful "pragmatic idealist".

It is a little disconcerting to follow the review of such a distinguished authority as Herr Tietmeyer but here goes.

The Annual Hayek Lecture Series is one of the major events of the year for the Institute of Economic Affairs, the London based free market think-tank. In 1999 the Institute invited Herr Otmar Issing, previously member of the board at the Bundesbank and currently an Executive member of the European Central Bank, to deliver the lecture. Professor Her Issing chose as his subject, Hayek, Currency Competition and European Monetary Union.

It is instructive some thirteen weeks after the introduction of the Euro to revisit this text and see how his argument holds up.

The lecturer begins with an acknowledgement of Hayek's contributions in several areas of politics and economics before consideration of his seminal paper for the IEA, "Choice in Currency: A Way to Stop Infation", and the later paper, "Denationalisation of Money".

In what follows Issing lays out as he sees it the essential concepts of Hayek's proposal before proceeding to establish through carefully argued analysis, a connection with the single European currency.

In his conclusions to the paper Issing suggests that having a single European Central Bank and a single European currency are the true heirs to hayek's legacy given that they will accomplish what Hayek himself had set out as his ultimate objectives.

Issing's case here is a travesty of the Hayek proposal, based as it is on the selective interpretation and misuse of the texts to substantiate his argument. In fact, if anything the single currency will do more harm than good as it is now in use in a European Union which does not have a single market, and where there are many barriers to internal trade and factor mobility. The so-called independence of the central bank is a falsehood. Consider the similar independence of the Bundesbank when Chancellor Kohl established the exchange rate between East and West German currencies. The continued high level of unemployment in the East of that country is a lingering testament to that political interference.

Similarly, the independence of the Central Bank cannot be guaranteed as the current jockying for positions by the French President, among others shows.

Having said that, this book provides a stimulating look inside the mind of a central banker, whose mindset now reflects that of the institution that employs him. Despite the attempted hijacking of the ideas of a great economist, this book deserves to be read by anyone with an interest in monetary economics.

Once again Otmar Issing has demonstrated his brilliance with this profound and insightful lecture, which debunks many myths surrounding currency competition while, at the same time, reaffirming the value of a currency firmly rooted in a culture of price stability. It is a real pleasure to read. It should be required reading for students of monetary econmics and all those interested in the conduct of monetary policy.

I had the extreme pleasure to read this presentation on the overall situation,insight,and ways to solve the questions surrounding the ever-so inpertainant russian economy
I also will tell you that anyone who wants to have an understandig of what is in the mind-set of russian economists and reformists,then please,take the time to invest in this fine
literary work.
grigory a yavlinsky has accomplished yet another difficult task-
and he is,I think(by the reading material that I have read)will be and should be the answer to rebuilding the vast post-soviet economy's sectors,inside and out,this,among other things, is the true way to russian financial security,and this book is definitly the "bible" of works surrounding the russian economy.

Yavlinsky warns the reader at the outset of this approach to the Russian transition that the methodology of Incentives and Institutions is more theoretical (mathematical) than his previous works on the Russian transition like 500 Days (1992). The problem in Russia hinges on prohibitive distancing of "owner" (state) control from the management in the Soviet system discussed in Part One, and the conflict of interest of insider control since privatization discussed in Part Two. Part one proposes that: 1) Hierarchical property rights are incompatible with democracy, and 2) Hierarchical property rights and innovations under an "isolated dictator" is incompatible with market allocation of capital. The second requires dictatorial isolation ex ante and ex post in that he never observes the "price." This seems a rather naïve and strict assumption. Part two discusses the path dependence of current insider ownership and its consequences. In both cases the problem is one of incentive compatibility for managers faced with opportunities in the official and unofficial sectors.

Part Three takes these intuitions and presents ideas and proposals for improving the situation. This section focuses on social contract, democratic efficacy, institutional development, and federal decentralization. First they claim "the collapse of communism, caused as it was by the path-dependent spontaneous process, has resulted in the entrenchment of a socioeconomic paradigm that effectively blocks further movement in the direction of a conventional market economy." The social contract of the old system is the paternalism of serfdom followed by communism's "de facto serfdom." The new contract is corporatism at the top, and Hobbesian jungle at the bottom. Political democracy, foreign investment, and market economy are Braguinsky and Yavlinsky's solutions. The failure of this is that, while they get to some of the core of the problem, the "solutions" are self-evident and address "What is to be done?" when the real question is "How to do it?"

Secondly, the authors claim that democracy is not only compatible with reform, but necessary in Russia because of Communism's involvement in economics and politics. The tilt in that balance of power burned both bridges. Why is this not the case in China? They claim that liberalization was not a calculated process as in China (or during NEP in Russia). Another claim is that models of government failure require irrational voters, lack of competition or prohibitive transaction costs. However failed reform is analytically compatible with excessive competition, particularly if it is among reform groups.

Third, they emphasize the role of institutions in competition and eventual growth. They suggest that a "Federal Property Protection Service" form to enforce private property rights directly with firms rather than intermediating government, bureaucracy and industry. This service interacts with firms and is (loosely) accountable to the government. The suggestion is that for a flat fee this FPPS will provide property protection to those who pay. But this sits on a razor's edge. On the one side, the question is of what happens to those who cannot pay the flat fee, and on the other, if it is affordable to everyone, how the service will cover its expenses.

Fourth, they discuss proposals for the decentralization and governmental integrity. As much as the authors beg not to compare Russia to China, their proposals for decentralization and parallel what is done in China with TVEs. Decentralization would be compatible with the FPPS only if special interests in that area do not represent "too large" a share of the total area income. Coalitions of regional enforcement services would form to avoid size bias and allow local FPPS to self-insure against idiosyncratic differences costs and revenues. This scheme relies on the practicality of the FPPS.

While this book ventures to areas that are only beginning to be economically analyzed, it focuses on what is wrong, and what is to be done, not really providing practical, realistic solutions for how to accomplish the goals of transition. The answer lies not in theory, but in the real cultural, social, and economic realities of Russia today and how specific organizations can arise from the norms that are accepted and practiced in Russia.

Alaolmolki has written a great introduction to a part of the world whose strategic importance is becoming clearer as time goes on. The book covers all of the former Soviet "-Stans," like Kazakh, Uzbek,Kyrgyz, etc. and provides brief introductory histories on them and their populations. It also covers contenders for regional supremacy which includes the traditional Russia, Iran and Turkey and newer regional players like China and the US. Interestingly, one learns that the goal of US Middle Eastern policy seems more intent on keeping Iran weak and unstable more than anything else. "Life After the Soviet Union" serves as a good, short-and-sweet introduction to a fascinating (to me, anyway) part of our planet. I read it for personal pleasure and to expand my own knowledge of the area, and though it is a poli-sci text it is very readable. Very much recommended.

If you have an academic or casual interest in the Newly Independent states, this book is a gem. I purchased it for my own reading and enjoyment, and found it a pleasurable read. It covers economic and political issues with brevity and clarity, and provides an excellent quick look at these states. I recommend it to anyone, as the reading level is not as pedantic as some political science books tend to be and could as easily be enjoyed by a casual reader as a student of political science.

Peter Drucker, the father of management science, serves up another multi-layered delight. ``The New Realities,'' published in 1990, is a book acknowledging the arrival of ``the knowledge society.'' Don't be put off because the book is at least 14 years old. Any person who wants to be better informed about the Information Age circa 2004 would do well to read this work.
Drucker brings so much in his writing. Just reading his definitions makes one pause and think. Try this one on knowledge (page 251 of the paperback edition) -- ``Knowledge is information that changes something or somebody -- either by becoming grounds for action, or by making an individual (or an institution) capable of different and more effective action.'' Adding...``And this little of the new `knowledge' accomplishes.''
Provocative chapter headings include ``The End of FDR's America,'' ``Now That Arms Are Counterproductive,'' ``The Post-Business Society,'' and ``When the Russian Empire Is Gone'' (yes, he saw it coming.). Drucker is provocative but he's no partisan. Can anyone tell if Drucker is a Republican, a Democrat or neither? I can't. Perhaps one day he'll tell us.
The greatest thing about Drucker is that for all his conceptualizing he doesn't forget the human dimensions of what he's writing about. Here's an example (p. 206) -- ``And still the knowledge society -- with a social mobility that threatens to become rootlessness, with its `other half,' its dissolution of the ties of farm and small town and their narrow horizons -- needs community, freely chosen yet acting as a bond.''
The book's conclusion is not what I would describe as a grand slam. Yet the last paragraph is, as one might expect, a thought-provoker. It is Drucker pointing out the need for a new philosophical synthesis.
An excellent book. I recommend it.

In the current world, almost everyone is a specialist. With a minor ailment, a patient may have to visit with several medical professionals before receiving an accurate diagnosis and treatment. Peter Drucker is the exception to that rule when it comes to social, governmental, organizational, and personal trends. He notices what is going on in each area, points out where the current direction is a dead end, and asks clear questions that point us toward creating our own solutions. Although this book was first published in 1989, it is more current now than before. The main reason is that so many of the social, political, organizational, and personal debates and experiments of the last ten years were first framed in this remarkable, ground-breaking work. I recently reread this book, and was struck that I understand what to do with it now much more than I did ten years ago when I first read it. Whether your interest is the Internet, entrepreneurship, lean manufacturing, charitable organizations, having less government, or more personal responsibility, this book is an essential guide. You will enjoy reading his prediction of the end of the Soviet empire only months before it ceased to exist. His crystal ball has been very clear so far. We need this clarity especially now as many of the first initiatives that he proposes have been successfully completed. The design is in this book for deciding what to do now.