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The postwar ‘golden age’ of economic growth also built up American and
European welfare states. This settlement was challenged in the 1970s by
the ‘losers’, a coalition of business, taxpayers, consumers, ideologists
and social scientists. From this core of discontent, market liberalism
retrieved the intellectual and political hegemony it had previously lost,
and continued to advance across the globe until its recent crisis. The
course investigates the origins, attributes, and drivers of this
movement, its successes, failures, and prospects. The focus is on the
formation and consequences of policy norms.
* Core readings – make sure you read them
[gb]=currently available on Google Books
(incomplete)
[ao]=digital copy will be made available
(incomplete – others may also be provided)
Primary text:
One: Social Democracy and its Crisis
Slide show (full size)
Slide show (6 per page)
Watchword: security
Primary texts:
Franklin D. Roosevelt
Excerpt
from 11 January 1944 message to Congress on the State of the Union
Readings:
- Alesina, Alberto, and Glaeser,
Edward L., Fighting Poverty in the US and Europe : A World of
Difference (
Oxford,
2004), chs. 1, 6-7.
- Barr, Nicholas, ‘Economic Theory and the
Welfare State: A Survey and Interpretation’, Journal of
Economic Literature, 30
(1992), pp. 741-80.
- Benabou, R. and Tirole, J., ‘Belief in a Just World and Redistributive
Politics’, Quarterly Journal of Economics, 121 (2006), pp.
699-746.
- Eichengreen, Barry, ‘Institutions and Economic
Growth: Europe after World War II’, in Crafts, Nicholas and Toniolo, Gianni (eds.), Economic Growth
in Europe since 1945 (1996),
pp. 38-72.
- Esping-Andersen, Gøsta, The Three Worlds of Welfare Capitalism (1990), chs.
2-3.
- *Farley, Reynolds, The New American
Reality (1996), ch. 3, ‘The 1970s: A Turning Point in the
Nation’s Economy and Whom it Rewards’.
- Freeman, Richard B. America
Works : The Exceptional U.S. Labor Market (New York, 2007).[gb]
- Fong, Christina M.,
Bowles, Samuel, and Herbert Gintis,
‘Reciprocity and the Welfare State’, in Bowles, Samuel et al.
(eds.), Moral Sentiments and Material Interests: The Foundations
of Cooperation in Economic Life (Cambridge, Mass, 2005).
- Fraser, Steve, and Gerstle,
Gary (eds.), The Rise and Fall of the New Deal Order,
1930-1980 (Princeton,
1989), Introduction.
- Glyn, Andrew, Capitalism Unleashed (2006), ch. 5,
‘Labour’s Retreat’.
- *Hacker, Jacob S. The
Divided Welfare State : The Battle over Public and Private Social
Benefits in the United States (Cambridge, 2002),e sp. Chs. 4-5.
- International
Labour Organization, World of Work Report 2009: The Global
Jobs Crisis and Beyond (Geneva,
2009), ch. 2. ‘Making Finance Work for the
Real Economy: Challenges for Policy’. [online]
- Marmor, Theodore R., Mashaw, Jerry
L. and Harvey, Philip, America's
Misunderstood Welfare State : Persistent Myths, Enduring Realities (New
York, 1992), chs. 1-2.
- *Offer, Avner,
’Contract Ambiguity and the Welfare State’
(unpublished paper, 2009).
- *Pierson, Paul, Dismantling the
Welfare State?: Reagan, Thatcher and the Politics of Retrenchment (Cambridge, 1995), chs.
1-2, 6. [gb]
Exam question: Was social
democracy an historical aberration?
Two: ‘The Great Disruption’ Slide show (full size)
Slide show (6 per page)
Watchword: respect.
Primary Texts:
a. Women
b. Civil rights
c. Crime
Readings:
- Elsner, Alan, Gates of Injustice : The
Crisis in America’s Prisons (Upper Saddle River, NJ, 2004).
- *Fukuyama, Francis, The
Great Disruption : Human Nature and the Reconstitution of Social
Order (London, 1999).
- Flamm, Michael W., Law and Order : Street
Crime, Civil Unrest, and the Crisis of Liberalism in the 1960s (New
York, 2005).
- Furstenberg,
Frank F., 'The Fading Dream: Prospects for Marriage in the Inner
City' in Anderson, Elijah and Massey, Douglas S. (eds.), Problem of the Century: Racial Stratification in the United States (New York, 2001), ch. 8 [gb]
- *Bosworth, Mary, Explaining
U.S. Imprisonment (Thousand Oaks, CA , 2010), chs. 5-6.
- Gottfredson, Michael R., and Hirschi,
Travis, A General Theory of Crime (Stanford, Calif,
1990), esp. ch. 5. [gb]
- Hemenway, David, Private Guns,
Public Health (Ann Arbor,
2004). [gb]
- [Moynihan
Report] United States. Dept. of Labor. Office of Policy Planning
and Research, The Negro Family : The Case for National Action ([Washington],
1965).
- Offer, Avner, The
Challenge of Affluence:Self-Control and
Well-Being in the USA and Britain since 1850 (Oxford, 2006), Chs.
11-14.
- Rosenfeld, Richard, ‘The Case of the
Unsolved Crime Decline’, Scientific American, 290 (2004), pp. 82-90.
[online; AO]
- Schelling, Thomas, Micromotives and Macrobehavior (New York, 1978), ch.
4., ‘Sorting and Mixing: Race and Sex’.
- Simon, Jonathan, Governing
Through Crime: How the War on Crime Transformed American Democracy
and Created a Culture of Fear (New York, 2007). [available
online – see SOLO]
- Schulman, Bruce and Zelizer, Julian eds., Rightward Bound: Making
America Conservative in the 1970s (Cambridge, Mass, 2008). [gb]
- Smeeding, Timothy ‘Poor People
in Rich Nations: The United States in Comparative Perspective’, Journal
of Economic Perspectives, 20 (2006), pp. 69-90.
- Waquant, Loic, Punishing
the Poor: The Neoliberal Government of Social Insecurity (Durham, NC, 2009).
- *Wilson, William
J., The Truly Disadvantaged : The Inner City, the Underclass, and
Public Policy (Chicago ; London: University of Chicago Press,
1987), chs. 1-2, 7.
- Zimring, Franklin E., The
Great American Crime Decline (New York ; Oxford, 2007), ch. 8 [gb]
Supplementary
- Field, Simon, `Trends in Crime and their
Interpretation: A Study of recorded Crime in Post-war England and
Wales
’,
Home Office Research Study 119 (1990)
[ao]
- Freeman, Richard B., ‘Crime and the Labour Market’ in The
Economic Dimensions of Crime,
ed. Nigel Fielding, Alan Clarke and Robert Witt (2000), pp. 150-175.
- Levitt, Steven D., and Venkatesh, Sudhir Alladi, ‘An Economic
Analysis of a Drug-Selling Gang’s Finances’, Quarterly Journal of
Economics, vol. 115, 3 (2000),
pp. 755-789.
- Lykken, David T., ‘The American Crime Factory’,
Psychological Inquiry, vol. 8, 3 (1997), 261-270. [ao]
- *Massey, Douglas S., and Denton, Nancy A., American Apartheid:
Segregation and the Making of the Underclass (Cambridge, Mass, 1993).
- Miller, Jerome, Search and Destroy: African-American Males
in the Criminal Justice System (1996)
- van Dijk, Jan J.M., ‘Understanding
Crime Rates: On the Interactions Between the Rational Choices of Victims
and Offenders’, British Journal of Criminology, vol. 34, no. 2 (1994), 105-121
Examination
question: Do the components of ‘the great disruption’ have common causes?
Three: Anger
Slide show (full size)
Slide show (6 per page)
Watchword: 
Texts:
- Robert Staughton,
and Lynd, Helen Merrell, Middletown in Transition : A Study
in Cultural Conflicts (New York,
1937), ch. 12.
- ‘The Baptist Faith and
Message’,
a. Guns
b. Race and politics
c. Religion
d. ‘Individualism’
Readings
· Albelda, Randy Pearl, Folbre,
Nancy, and Center for Popular Economics (U.S.), The War on the Poor :
A Defense Manual (New York: New Press, 1996). [ao]
· Almond, Gabriel A. , Sivan, Emmanuel ,
and Appleby, R Scott, ‘Fundamentalism: Genus and Species’, in Marty,
Martin E. and Appleby, R. Scott (eds.), Fundamentalisms
Comprehended, vol. 5,
Fundamentalisms (
Chicago,
1995), pp. 399-424.
· Ansolabehere, Stephen, Rodden,
Jonathan, and Snyder, James M.
Jr., ‘Purple America’, Journal of Economic Perspectives, 20
(2006), p. 97–118.
· Bellah, Robert N., Habits of the Heart :
Individualism and Commitment in American Life (Berkeley, 1985), ch.
6. ‘Individualism’.
· Bennett, David Harry, The Party of Fear : From Nativist Movements to the New Right in American
History (Chapel Hill, NC, 1988), ch. 15.
· Cutler, D. M., Glaeser, E. L., and Norberg, K. E., ‘Explaining the Rise in Youth
Suicide’, Harvard - Institute of Economic Research, Harvard Institute of
Economic Research Working Papers, Discussion Paper no. 117 (Cambridge,
MA, 2001).
· Edsall, Thomas Byrne, and Edsall,
Mary D., Chain Reaction : The Impact of Race, Rights, and Taxes on
American Politics (New York ;
London, 1991).
· *Frank, Thomas, What’s the Matter with
Kansas?
: How Conservatives Won the Heart of
America
(
New
York,
N.Y.,
2004).
· Greeley, Andrew M. and Hout, Michael, The Truth About Conservative Christians : What They Think and What
They Believe (Chicago, 2006).
· Herbert J. Gans, Middle
American Individualism : The Future of Liberal Democracy (New York,
1988).
· Greeley, Andrew and Hout, Michael, The
Truth about Conservative Christians (Chicago, 2006), chs. 4, 8-10.
· Harcourt, Bernard E., Guns, Crime and Punishment in
America (New York, 2002).
· Hemenway, David, Private Guns, Public Health (Ann Arbor, 2004).
· Martin Gilens, Why Americans
Hate Welfare : Race, Media, and the Politics of Antipoverty Policy (Chicago,
1999), esp. ch. 3 [gb]
· *Iannacone, Laurence R., ‘Heirs to the
Protestant Ethic? The Economics of American Fundamentalists’, in Marty,
Martin E. and Appleby, R. Scott (eds.), Fundamentalisms and the
State: Remaking Polities, Economies, and Militance, vol. 3, Fundamentalisms (
Chicago,
1993), pp. 342-366.
· Kasser, Tim, and Kanner,
Allen, Psychology and Consumer Culture : The Struggle for a Good
Life in a Materialistic World (
Washington,
D.C., 2003), esp. ch. 2.
· *Lieven,
Anatol,
America
Right or Wrong : An Anatomy of American Nationalism (
London,
2004)., chs. 3-4.
· Neiwert, David A., The Eliminationists : How Hate Talk Radicalized the
American Right (Sausalito, CA, 2009), ch.
8.
· Phillips, Kevin P., The Emerging Republican Majority (Garden City, N.Y, 1970).
· Phillips, Kevin P., American Theocracy (
New
York, 2006), Part II, esp. ch.
4.
· * Rubin, Zick and Peplau, Letitia Anne, ‘Who Believes in a Just World?’, Journal
of Social Issues, 31, 3 (1975).
[JSTOR]
· Seligman, Martin- E. P., ‘Why Is There So Much Depression
Today? The Waxing of the Individual and the Waning of the Commons’, in
Ingram, R. E. (ed.), Contemporary Psychological Approaches to
Depression (New York, 1990), pp.
1-9 . [ao]
· Scott, Charity ‘Belief in a
Just World: A Case Study in Public Health Ethics,’ Hastings Center
Report 38, no. 1 (2008), pp. 16-19. [ao]
· *Teixeira, Ruy (ed.), Red, Blue, and Purple America: The
Future of Election Demographics (Washington, 2008), esp. chs. 3-6 [gb]
· Tropman, John E., Does America
Hate the Poor? : The Other American Dilemma : Lessons for the 21st
Century from the 1960s and the 1970s (Westport, Conn. ; London,
1998), chs. 1, 9, 10. [q] [or Waquant, previous session]
· Twenge, J. M., ‘The Age of Anxiety? Birth Cohort
Change in Anxiety and Neuroticism, 1952-1993’, Journal of
Personality and Social Psychology,
79 (2000), 1007-10021.
· Schulman, Bruce and Zelizer,
Julian eds., Rightward Bound: Making America Conservative in the 1970s (Cambridge, Mass, 2008). [gb]
Examination Question: The shift to individualism
--- cause or effect?
Four: Against taxation
Slide show (full size)
Slide show (6 per page)
Watchword: "Government is not a solution to our problem,
government is the problem." [Reagan inaugural]
Text: Wanniski, Jude, The Way the World Works (1978), ch. 6, or Wanniski, Jude, ‘Taxes, Revenues, and the
"Laffer Curve"’, The Public
Interest, 50 (Winter 1978).
a. Policy objectives of business campaign
b. Underlying principles
· Chait, Jonathan, The Big Con: Crackpot
Economics and the Fleecing of America (New York, 2007).
· Drew, Elizabeth, Politics and Money : The New Road to
Corruption (New York, 1983).
· Easton, Nina, Gang of Five: Leaders at the Centre of the
Conservative Crusade (New York, 2000), chs.
3, 16 [about Gover Norquist]
· Edsall, Thomas Byrne, The New
Politics of Inequality (New York, 1984).
· Harvey, David, A Brief History of Neoliberalism (Oxford, 2005), chs. 1-3.
· Hacker, Jacob S., The Great Risk Shift: the Assault on
American Jobs, Families, Health Care and Retirement and How You Can Fight
Back (Oxford, 2006), esp. chs. 1-3, 6.
· Hudson, William E., The Libertarian Illusion : Ideology,
Public Policy, and the Assault on the Common Good (Washington, DC,
2008).
· Kaiser, Robert G., So Damn Much Money :
The Triumph of Lobbying and the Corrosion of American Government (New York, 2009).
· Lakoff, George, Moral Politics : How Liberals and
Conservatives Think, 2nd ed. edn. (Chicago,
2002), chs. 1-2, 5-6.
· McGirr, Lisa, Suburban Warriors
: The Origins of the New American Right (Princeton, N.J., 2001), esp. chs. 4-6. [gb]
· Micklethwait, John, and Wooldridge, Adrian, The
Right Nation : Conservative Power in America (New York, 2004), esp. chs.
9-10.
· Narveson, Jan, The Libertarian
Idea (Philadelphia, 1988).
· Norquist, Grover Glenn Leave Us
Alone : Getting the Governments Hands Off Our Money, Our Guns, Our Lives,
(New York, 2008).
· Philliips, Kevin, Wealth and
Democracy (New York, 2002), chs. 7, 8,
· Phillips-Fein, Kim, Invisible Hands: The Making of the
Conservative Movement from the New Deal to Reagan (New York, 2009).
· Sears, David O., and Citrin,
Jack, Tax Revolt : Something for Nothing in California (Cambridge, Mass ; London, 1982).
· Sutton, Francis X. et al., The American Business Creed (Cambridge MA, 1956).
Examination question: Is
Libertarianism an illusion?
Five: Empire and War. Slide show (full size)
Slide show (6 per page)
Watchword: evil empire
Texts:
· Stanley Kubrick, ‘Dr Strangelove’ [film]
· Robert McNamara, ‘The Fog of War’ [film]
· Graham Greene, The Quiet American (1955), esp. pt. two, ch.
3/II.
a. Imperial ambitions.
b. Technology and empire.
c. Imperial overstretch?
Readings:
- Bacevich, Andrew, ‘Social Work with Guns’, London
Review of Books, 17 Dec.
2009.
- Brzezinski, Zbigniew, The Choice : Global Domination or Global Leadership (New York, 2004).
- Chomsky, Noam, Hegemony or Survival
: America’s Quest for Global Dominance (London, 2004).
- Edelstein, Michael, ‘War and the American
Economy in the Twentieth Century’, in Engerman,
Stanley L. and Gallman, Robert E. (eds.), The
Cambridge Economic History of the
United
States
. Volume 3. The Twentieth Century, vol. 3 (
Cambridge,
New York
and
Melbourne,
2000), pp. 329-405. [gb]
- Edgerton, David E.H., Warfare
State: Britain, 1920-1970 (Cambridge, 2006), ch. 6. ‘The warfare
state and the ‘white heat’, 1955-1970’. [gb]
- Enthoven, Alain C., and Smith, K. Wayne, How
Much Is Enough? : Shaping the Defense Program, 1961-1969 (New York, 1971), esp. ch. 6. [gb]
- Fishback, Price, ‘Seeking Security in the Post-War
Era’, in Price Fishback, et al., Government
and the American Economy: A New History (Chicago, 2007), ch.
17.
- Halberstam, David, The Best and the Brightest (London, 1972), ch.
8.
- Higgs, Robert, ‘The Cold War Economy:
Opportunity
Costs, Ideology, and the Politics of Crisis’, Explorations in
Economic History, 31
(1994), pp. 283-312.
- Mann, Michael, Incoherent
Empire (New York, 2003), chs 1, 9. [gb]
- Nye, Joseph S., Soft Power : The
Means to Success in World Politics (New York, 2004).
- Stelzer, Irwin M. (ed.), Neoconservatism (London, 2004).
- Todd, Emmanuel, After
the Empire: The Breakdown of the American Order (London, 2003), ch. 16. ‘Confront the Strong or Attack the Weak?’
Examination
question: Why has America resorted repeatedly to ‘hard power’?
Six: Rational expectations.
Slide show (full size)
Slide show (6 per page)
Watchword:
Science
Primary
Texts: ‘Essentials of Objectivism’ [appendix to Ayn Rand, Atlas Shrugged (1957) [Signet edition]
Adam Curtis, ‘The Trap’ [BBC documentary series]
a.
Rational Choice
b. Public Choice
c. Efficient markets
d. Rational Expectations and New Classical
Macro
Readings:
- Allingham, Michael, Choice Theory : A Very
Short Introduction (Oxford, 2002).
- Bernstein, Peter, Capital Ideas (New York, 1992), ch.
11. [alternative to Justin Fox below]
· *Buchanan, James M. ‘Public
Choice: The Origins and Development of a Research Program’, Center for
Study of Public Choice, George Mason University (Fairfax, VA, 2003).
· Blyth, Mark, Great Transformations:
Economic Ideas and Institutional Change in the Twentieth Century (Cambridge, 2002), chs. 5-6.
· Buchanan, James M., and Musgrave, Richard Abel, Public Finance and Public Choice : Two Contrasting Visions of the
State (Cambridge, Mass. ;
London, 1999).
- Bleaney, M.F., The Rise and Fall of
Keynesian Economics: An Investigation of its Contribution to
Capitalist Development (Basingstoke, 1985), ch. 3.
- Fox, Justin, The Myth of the
Rational Market (New York,
2009), chs. 5-6.
- *Freidman, Milton and Freidman, Rose, Capitalism
and Freedom (Chicago,
1962).
- Friedman, Milton and Friedman, Rose D., Free
to Choose: A Personal Statement (London, 1990).
- Glyn, Andrew, Capitalism Unleashed:
Finance, Globalization and Welfare (Oxford, 2006).
- Greenspan, Alan, The
Age of Turbulence : Adventures in a New World (New York, 2007), ch. 2, ‘The Making of an Economist’.
- *Hoover, Kevin D., The
New Classical Macroeconomics : A Sceptical Inquiry (Oxford, 1990).
- *Hoover, Kevin D., The New
Classical Macroeconomics (Aldershot, 1992), vol. 1, Introduction, select
articles.
- Klamer, Arjo, The
New Classical Macroeconomics: Conversations with the New Classical
Economists and their Opponents (Brighton, 1984), Introduction and ch.
1.
- Krugman, Paul, Peddling Prosperity (1994), chs.
1-3, 8.
- Krugman, Paul, ‘How did Economists Get it So
Wrong?’, New York Times Magazine, 8 Sept. 2009.
- van Overtveld, Johan, The Chicago School : How the University of
Chicago Assembled the Thinkers Who Revolutionised Economics and Business (St. Paul, Minn,
2006), ch. 6.
- Lerner, Melvin J. and
Miller, Dale T. ‘Just World Research and the Attribution Process:
Looking Back and Ahead’, Psychological Bulletin, 85 (1978),
pp. 1030-1051.
- Mirowski, Philip and Plehwe, Dieter, The Road from Mont Pèlerin : The Making of the Neoliberal Thought London:
Harvard University Press, 2009).
- Stigler, George J., ‘The Theory of
Economic Regulation’, Bell Journal of Economics, 2 (1971), pp. 137-146.
- Snowdon, Brian, and Vane, Howard R., Modern
Macroeconomics : Its Origins, Development and
Current
State (
Cheltenham,
2005), chs. 5-6. See interviews with Lucas
and Prescott.
- *Taleb, Nassim, The Black Swan : The Impact of
the Highly Improbable (London, 2007).
Examination
question: Why does high theory carry high authority?
Seven: From Theory to Policy
Watchword:
‘When a measure becomes a target, it ceases to be a measure’ [Goodhart’s Law]
Texts:
- Williamson, John, ‘What Washington Means by
Policy Reform’, in Williamson, John (ed.), Latin
American Adjustment: How Much has Happened? (Washington, DC, 1990)
a. Washington Consensus
b. New
Public Management
Readings:
Washington Consensus
- Amadae, S. M., Rationalizing Capitalist
Democracy: The Cold War Origins of Rational Choice Liberalism (2003), ch. 1.
- Gershman, John and Irwin, Alec,
‘Getting a Grip on the Global Economy’, in Jim Yong Kim, Joyce V.
Millen, Alec Irwin and Jogb Gershman (eds.), Dying for Growth: Global
Inequality and the Health of the Poor (Monroe, Maine: Common
Courage Press, 2000), pp. 11-43.
- Jan Kregel,
‘The Discrete Charm of the Washington Consensus’, Levy Economics
Institute (Annandale-on-Hudson, NY, 2008)
- Krogstad, Erlend,
‘The Post-Washington Consensus: Brand New Agenda or Old Wine in a
New Bottle?’ Challenge, 50 (2007), pp. 67-85.
http://club.filltong.net/upload/down/202/thepost-washintonconsensus.pdf
- Krugman, Paul, Peddling Prosperity (1994), pt. 1 and ch.
8.
- Prasad, Monica, The Politics of
Free Markets: the Rise of Neoliberal Economic Policies in Britain,
France, Germany and the United States (Chicago and London, 2006), ch. 2.
- *Rodrik, Dani, ‘Goodby Washington Consensus, Hello Washington Confusion’, Journal of
Economic Literature, vol . 44, Dec. (2006).
- *Stiglitz,
Joseph E., Globalization and Its Discontents (
London,
2002), chs. 3. 8.
- *Zagha, Roberto, Nankani, Gobind T., and World Bank., Economic
Growth in the 1990s : Learning from a Decade of Reform (Washington, DC, 2005).
New Public Management
- *Drechsler,
Wolfgang, ‘The Rise and Demise of the New Public Management’, Post-Autistic
Economics Review, 32
(2005). [online]
- Eliassen, Kjell A. and Sitter, Nick, Understanding Public Management (London:
SAGE, 2007).
- Enthoven, Alain C., Theory
and Practice of Managed Competition in Health Care Finance (Amsterdam,
1988).
- *Ferle, Ewan et
al., The Oxford Handbook of Public Management (Oxford, 2005), chs.
1-2, 20-21.
- Greer, Patricia, Transforming Central Government
: The Next Steps Initiative (Buckingham, 1994).
- Lane, Jan-Erik, New
Public Management (London, 2000), chs.
7, 10, Conclusion. [gb]
- Marsden, David, French,
Stephen and Kubo, Katsuyuki., Does
Performance Pay De-Motivate, and Does It Matter? (London, 2001).
[ao]
- *Osborne, David and Gaebler, Ted, Reinventing Government : How the Entrepreneurial Spirit Is
Transforming the Public Sector (Reading, Mass ; Wokingham:
Addison-Wesley, 1992).
- *Brooks, Richard, ‘The
Bourn Complicity’, Private Eye (18 Sept. 2008 2008), pp. 17-23. [ao]
- Shaoul, Jean, ‘The Private
Financing Initiative or the Public Funding of Private Profit?’ in
Graeme A. Hodge and Carsten Greve (eds.), The Challenge of Public-Private
Partnerships : Learning from International Experience (Cheltenham, 2005), pp. 190-206. [gb]
- Suleiman, Ezra N. and
Waterbury, John, The Political Economy of Public Sector Reform
and Privatization (Boulder, 1990), Introduction.
Examination
question: Evaluate the theoretical underpinning of the ‘Washington
Consensus’ or the ‘New Public Management’
Eight: Crisis and Prospect
Watchword: liberalisation
a. Prospects for Reform?
b. Prospects of Collapse?
Readings:
- *Cassidy, John, How
Markets Fail : An Atlas of Economic Irrationality (New York:
Farrar Straus and Giroux, 2009).
- Khoury, Sarkis J., The Deregulation of the World Financial Markets : Myths,
Realities and Impact (London, 1990), chs.
1-2, 3, 5. [q]
- *Leggett,
Jeremy, The Empty Tank: Oil, Gas, Hot Air and the Coming Global
Financial Catastrophe (New York, 2005).
- Lomborg, Bjørn Cool It! : The Skeptical Environmentalist’s Guide to Global
Warming (London, 2007). Or his Solutions for the world's
biggest problems : costs and benefits (Cambridge, 2007)
- Monbiot, George, Captive
State : The Corporate Takeover of Britain (Basingstoke, 2000).
- Orlov, Dmytry,
‘Closing the “Collapse Gap”: The USSR was Better Prepared for
Collapse than the US’, Energy Bulletinhttp://www.energybulletin.net/node/23259
[extended in
Reinventing
Collapse : The Soviet Example and American Prospects (Gabriola Island, B.C, 2008). ]
- Rhode, Paul Webb and Toniolo,
Gianni, The Global Economy in the 1990s: A Long-Run
Perspective (Cambridge, 2006), ch. 1 [and others by interest] [gb]
- Sachs, Jeffrey
D., ‘Rethinking Macroeconomics’, Capitalism and Society, 4, 3
(2009), article 3.
-
Shiller, Robert, Irrational Exuberance (2nd edn. 2005), esp. ch.
3.
-
Stern, Nicholas and Adger, W. Neil, The Stern Review Report on
the Economics of Climate Change (Cambridge, 2006).
- Weitzman, Martin, ‘A Review of the Stern
Review on the Economics of Climate Change’, Journal of Economic Literature, 45 (Sept. 2007), 703-724.
- Wolf, Martin, ‘Asia’s Revenge’, Financial
Times, 8 October 2008; ibid, ‘Global Imbalances Threaten the
Survival of Liberal Trade’ Financial Times, 2 December 2008.
[ao]
Examination question: Can we expect market
forces to correct market crises?
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