Governments issue debt for good and bad reasons. While the good reasons—intertemporal tax-smoothing, fiscal stimulus, and asset management—can explain some of the increases in public debt in recent years, they cannot account for all of the observed changes. Bad reasons for borrowing are driven by political failures associated with intergenerational transfers, strategic manipulation, and common pool problems. These political failures are a major cause of overborrowing though budgetary institutions and fiscal rules can play a role in mitigating governments’ tendencies to overborrow. While it is difficult to establish a clear causal link from high public debt to low output growth, it is likely that some countries pay a price—in terms of lower growth and greater output volatility—for excessive debt accumulation.
The last time global sovereign debt reached the level seen today was at the end of the Second World War, and this shaped a generation of economic policymaking. International institutions were transformed, country policies were often draconian and distortive, and many crises ensued. By the early 1970s, when debt fell back to pre-war levels, the world was radically different. It is likely that changes of a similar magnitude -for better and for worse - will play out over coming decades. Sovereign Debt: A Guide for Economists and Practitioners is an attempt to build some structure around the issues of sovereign debt to help guide economists, practitioners and policymakers through this complicated, but not intractable, subject. Sovereign Debt brings together some of the world's leading researchers and specialists in sovereign debt to cover a range of sub-disciplines within this vast topic. It explores debt management with debt sustainability; debt reduction policies with crisis prevention policies; and the history with the conjuncture. It is a foundation text for all those interested in sovereign debt, with a particular focus real world examples and issues.
The New York Times bestseller that gives readers a paradigm-shattering new way to think about motivation from the author of When: The Scientific Secrets of Perfect Timing Most people believe that the best way to motivate is with rewards like money—the carrot-and-stick approach. That's a mistake, says Daniel H. Pink (author of To Sell Is Human: The Surprising Truth About Motivating Others). In this provocative and persuasive new book, he asserts that the secret to high performance and satisfaction-at work, at school, and at home—is the deeply human need to direct our own lives, to learn and create new things, and to do better by ourselves and our world. Drawing on four decades of scientific research on human motivation, Pink exposes the mismatch between what science knows and what business does—and how that affects every aspect of life. He examines the three elements of true motivation—autonomy, mastery, and purpose-and offers smart and surprising techniques for putting these into action in a unique book that will change how we think and transform how we live.
This is a classic edition of Hugh Wagner’s influential overview of the biopsychological underpinnings of human motivation. It includes a new foreword written by Michael Richter who reflects on Wagner’s 20 years of teaching, writing and research in the field of biopsychology and promises an engaging, succinct and accessible introductory text that remains relevant and useful to students today. The Psychobiology of Human Motivation explores what directs our behaviour, from basic physiological needs like hunger and thirst to more complex aspects of social behaviour like altruism. Wagner explores the limits of biological explanations and shows how humans can influence ‘basic’ physiological drives in order to adapt to a complex social environment. An accessible, engaging resource strengthened by many applied examples, Wagner’s text continues to be integral reading for undergraduate students seeking a solid introduction to the psychology of human motivation across the social and behavioural sciences.
Shay was still angry but shrugged nonchalantly as if to say, it’s not that big of a deal. “So, what am I wrong about?” “You’re not going to want to hear this, but I have to tell you anyway.” Liam paused before finishing. “You might be working hard, but you’re not doing it for the company.” “What the hell does that mean?” Shay wanted to know. Knowing that his adversary might punch him for what he was about to say, Liam responded. “You’re doing it for yourself.” New York Times best-selling author Patrick Lencioni has written a dozen books that focus on how leaders can build teams and lead organizations. In The Motive, he shifts his attention toward helping them understand the importance of why they’re leading in the first place. In what may be his edgiest page-turner to date, Lencioni thrusts his readers into a day-long conversation between rival CEOs. Shay Davis is the CEO of Golden Gate Alarm, who, after just a year in his role, is beginning to worry about his job and is desperate to figure out how to turn things around. With nowhere else to turn, Shay receives some hard-to-swallow advice from the most unlikely and unwanted source—Liam Alcott, CEO of a more successful security company and his most hated opponent. Lencioni uses unexpected plot twists and crisp dialogue to take us on a journey that culminates in a resolution that is as unexpected as it is enlightening. As he does in his other books, he then provides a straightforward summary of the lessons from the fable, combining a clear explanation of his theory with practical advice to help executives examine their true motivation for leading. In addition to provoking readers to honestly assess themselves, Lencioni presents action steps for changing their approach in five key areas. In doing so, he helps leaders avoid the pitfalls that stifle their organizations and even hurt the people they are meant to serve.
Drugspeak The Analysis of Drug Discourse describes the way in which conversations between drug users vary and change according to context and circumstance in ways that suggest that there is no single truth about the state we call addicted. The central thesis of the book is that the explanations that drug users give for their drug use make sense not so much as sources of facts, but as primarily functional statements shaped by a climate of moral and legal censure. Consequently the significance of drug conversations lies not in their literal semantics but in the purposes such conversations serve. The argument raises a number of fundamental issues about the performative rather than the informative nature of language, about the nature of the scientific facts concerning drug use, and about the very nature of science itself. Starting with a general overview of the problems arising from a mechanistic and deterministic view of science, the book identifies a need for a new approach to the un
George Orwell set out ‘to make political writing into an art’, and to a wide extent this aim shaped the future of English literature – his descriptions of authoritarian regimes helped to form a new vocabulary that is fundamental to understanding totalitarianism. While 1984 and Animal Farm are amongst the most popular classic novels in the English language, this new series of Orwell’s essays seeks to bring a wider selection of his writing on politics and literature to a new readership. In Why I Write, the first in the Orwell’s Essays series, Orwell describes his journey to becoming a writer, and his movement from writing poems to short stories to the essays, fiction and non-fiction we remember him for. He also discusses what he sees as the ‘four great motives for writing’ – ‘sheer egoism’, ‘aesthetic enthusiasm’, ‘historical impulse’ and ‘political purpose’ – and considers the importance of keeping these in balance. Why I Write is a unique opportunity to look into Orwell’s mind, and it grants the reader an entirely different vantage point from which to consider the rest of the great writer’s oeuvre. 'A writer who can – and must – be rediscovered with every age.' — Irish Times
