Dr. Niko Tinbergen was well known as a naturalist and a student of animal behaviour in England, on the Continent and in the United States. Ever since he was a young student in Holland he had been curious about nature, and in this book he sets out some of the facts that 25 years of curiosity gave him. As a biologist, anything living was his province—the bee-killing wasps and the digger wasps of the Dutch sand dunes; the Snow Bruntings and Phalaropes of Greenland; Hobbies and other hawks; moths and butterflies in various parts of England and Holland; Black-headed Gulls of the Ravenglass nature reserve, Cumberland, the Kittiwakes and Eider Ducks of the Farne Islands off the coast of Northumberland. Readers cannot fail to be struck—and possibly sometimes amused—by the patience and ingenuity shown in the field studies undertaken by Dr. Tinbergen and his fellow naturalists—and which are now passed on for the benefit and interest of his readers. The studies were always undertaken seriously, but this did not prevent Dr. Tinbergen from writing about them in the liveliest way; he realised that quite often he and his friends must have seemed to onlookers to be very curious naturalists indeed.
Economic theory may be speculative, but its impact is powerful and real. Since the 1970s, it has been closely associated with a sweeping change around the world--the "market turn." This is what Avner Offer and Gabriel Soderberg call the rise of market liberalism, a movement that, seeking to replace social democracy, holds up buying and selling as the norm for human relations and society. Our confidence in markets comes from economics, and our confidence in economics is underpinned by the Nobel Prize in Economics, which was first awarded in 1969. Was it a coincidence that the market turn and the prize began at the same time? The Nobel Factor, the first book to describe the origins and power of the most important prize in economics, explores this and related questions by examining the history of the prize, the history of economics since the prize began, and the simultaneous struggle between market liberals and social democrats in Sweden, Europe, and the United States. The Nobel Factor tells how the prize, created by the Swedish central bank, emerged from a conflict between central bank orthodoxy and social democracy. The aim was to use the halo of the Nobel brand to enhance central bank authority and the prestige of market-friendly economics, in order to influence the future of Sweden and the rest of the developed world. And this strategy has worked, with sometimes disastrous results for societies striving to cope with the requirements of economic theory and deregulated markets
Public policy can be considered a design science. It involves identifying relevant problems, selecting instruments to address the problem, developing institutions for managing the intervention, and creating means of assessing the design. Policy design has become an increasingly challenging task, given the emergence of numerous ‘wicked’ and complex problems. Much of policy design has adopted a technocratic and engineering approach, but there is an emerging literature that builds on a more collaborative and prospective approach to design. This book will discuss these issues in policy design and present alternative approaches to design.
Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a new age economy.
Government economic planning - the impact on economic development, the social implications and the best techniques of centralization. Comparison (18 tables) of planning processes. Bibliography pp. 143-146.
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