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Economics 2018

New and Forthcoming Titles pau l m i lg r o m

time. Earth at Risk is an in-depth, detailed account of the challenge our world faces, coupled with provocative suggestions of a path forward. Chapter after chapter provides essential context of the threats, grist for the debate over how

e ct hri ceaat l ai snsge t a l e a r nand i nthe g valuation g osoodcsioecti eyt y CLAUDE HENRy, a physicist

turned economist, is a professor of sustainable development at Sciences Po Paris and at Columbia University.

He is also currently president of the

Scientific Council of the Institute of Sustainable Development and International Relations.

LAURENCE TUbIANA

is

the founder and director of the Insti-

— John F. Kerry, Former U.S. Secretary oF State “The authors are ideally situated to understand the ins and outs of

the climate crisis, and in this book they deliver an insightful overview, one that will be useful to any student of our dilemma.”

— Bill m c KiBBen, aUthor oF The end of naTure

“Earth at Risk is uncomfortable but essential reading. Our planet and the life

it sustains face imminent peril from humankind’s success. As the authors make abundantly clear, it is now up to humankind to redefine success, to reinvent

economics, to develop a new global ethos of caring and sharing and, above all, to take with fierce urgency, the bold steps necessary to avert disaster.”

— Stephen heintz, preSident, rocKeFeller BrotherS FUnd

pr ces

tute of Sustainable Development and International Relations and professor

“A must-read for everyone concerned over humanity’s future on Earth.

and director of the Sustainable Devel-

Henry and Tubiana are clear: a global transformation to sustainability is our only

opment Center at Sciences Po Paris.

path to equity and prosperity. The situation is dire, but they provide overwhelming

She was the special representative of

evidence that we have the solutions we need—we must now adopt them. A

the French minister of foreign affairs

remarkable achievement, balancing risk and pragmatic hope in a perfect mix.”

for the 2015 Paris Climate Conference

— Johan rocKStröm, StocKholm UniverSity

(COP-21) and French ambassador for climate negotiations.

why some previous efforts failed, why others succeeded, and how,

a u c t io n D e s ig n i n ma r ke t s w i t h C o m p le x C o n s t ra i n t s UNIVERSITY PRESS / NEw YORk

drawing from the lessons of both kinds of experience, the world can achieve sustainable development in the future.”

— Scott Barrett, colUmBia UniverSity

Jacket design: Noah Arlow Jacket photo: © Dreamstime

COLUMBIA

Natural Capital and the Quest for Sustainability

“In Earth at Risk, Henry and Tubiana do more than explain why action is urgently needed to conserve the world’s natural capital. They also explain

earth at risk

c r e at i n g a d ls ec oavrenri nn gg

to confront them, and required reading for policy makers wrestling with reality.”

heNry and tubiaNa

“Claude Henry and Laurence Tubiana have written a critical book at a critical

c h r ist i a n go l l i e r

cup.columbia.edu Printed in the U.S.A.

COLUMBIA

“A critical book at a critical time.”— John F. Kerry

earth at

risk Natural Capital and the Quest for Sustainability

Claude heNry and l aureNCe tubiaNa

Co lumbia Unive r si t y P r ess c u p. c o l u m b i a . e d u

WE ARE SQUAN

our planet’s natural capita sity, water and soil, and clim at a blistering pace. Major be made to steer our plane away from our current, do Though technology has be drivers of the current trend able development, it is als essential tools for remedyin Risk maps out the necessar sustainability, detailing the science and technology, al institutional design, and ec can and must be put to use ronmental catastrophe.

Claude Henry and Laurence with a measure of the costs damage—the erosion of bi water, and soil pollution; a reaching effects of climate then consider the solutions now available or close on th that may lead to a more sust trajectory. What community ket-based tools can be use sustainable development? H able energy and energy sto help us decrease our use o How can we substitute ag the damaging chemical met trialized agriculture? Is inter ment on climate goals poss on the experience of the m climate negotiation of the de Risk shows what a world or the principles of sustainabil like, no matter how optimist at the present moment. Thou obstacles remain to the rea significant transition, Henry present the case for collec and change that build m implementation and action.


new and forthcoming

This past year started on a sad note, with the death of Kenneth J. Arrow. Arrow was admired by all who knew him for his limitless curiosity, his extraordinary breadth of work, and his kindness and humility—qualities appreciated anew each year at the annual Kenneth J. Arrow lecture at Columbia University, which Arrow attended and participated in up to the 2016 lecture from John Geanakoplos. In December 2017, Columbia celebrated his memory with a special day-long symposium that gathered world-renowned economists to reflect on how Arrow’s work shaped their own. The event culminated with the 10th annual Arrow lecture from Glenn C. Loury, prefaced by moving opening remarks from Arrow’s sister Anita Summers, Professor Emerita of the Wharton School. The lecture series continues to produce outstanding books, including Paul Milgrom’s Discovering Prices: Auction Design in Markets with Complex Constraints and Christian Gollier’s Ethical Asset Valuation and the Good Society, both published in 2017. Other partnerships with Columbia University are likewise productive. Our longstanding Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization series adds another book in 2018: The Welfare State Revisited, edited by series editors José Antonio Ocampo and Joseph E. Stiglitz. The Press is also happy to announce a new series with the Center on Global Energy Policy, edited by Jason Bordoff, which provides an independent and nonpartisan platform for timely analysis and recommendations to address today’s most pressing energy challenges. The series is off to a very strong start with three new books: The Fracking Debate: The Risks, Benefits, and Uncertainties of the Shale Revolution, by Daniel Raimi; The Art of Sanctions: A View from the Field, by Richard Nephew; and Crude Volatility: The History and the Future of Boom-Bust Oil Prices, by Robert McNally. The Press continues to be a leader in environmental economics and the economics of climate change. New books include Claude Henry and Laurence Tubiana’s Earth at Risk: Natural Capital and the Quest for Sustainability, which considers the innovations in science, technology, law, and economics that can be used to avert environmental catastrophe, and Lawrence Goulder and Marc Hafstead’s Confronting the Climate Challenge: U.S. Policy Options, which in William Nordhaus’s words “shows brilliantly how the United States can tackle the climate challenge effectively, using the fiscal system to slow climate change while protecting those who are vulnerable to the costs of a rapid transformation of the energy system.” Also coming in 2018 are Parkash Chander’s Game Theory and Climate Change and Coping with the Climate Crisis: Mitigation Policies and Global Coordination, edited by Rabah Arezki, Patrick Bolton, Karim El Aynaoui, and Maurice Obstfeld. Finally, we are delighted to announce the publication of Michael Grossman’s Determinants of Health: An Economic Perspective, which brings together the foundational health economist’s most important papers along with his own discussions of subsequent research. To accompany this, the Press has also reissued his classic 1972 monograph, The Demand for Health: A Theoretical and Empirical Investigation. Wishing you enjoyable reading, Bridget Flannery-McCoy, editor in economics 2

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CONTENTS

New and Forthcoming

New and forthcoming............................................3

c h r ist i a n go l l i e r

Ordering information.......................................... 19

e ct hri ceaat l ai snsge t a l e a r nand i nthe g valuation g osoodcsioecti eyt y

Best of the backlist................................................ 16

Manuscript queries and proposals can be sent to the following editor:

Ethical Asset Valuation and the Good Society Christian Gollier

Bridget Flannery-McCoy (bmf2119@columbia.edu) editor in economics. For a complete listing of Columbia’s titles or for more information about any book in this catalog, visit our website cup.columbia.edu. Most titles in this catalogue published by Columbia University Press are available worldwide from the press. If no UK price appears for a title, it is most likely available from Columbia only in the United States, its possessions, and Canada. Titles published by the Chinese University Press, the University of Tokyo Press, Auteur Press, Transcript-Verlag, and the Social Science Research Council are available from Columbia only in North America. To order titles from these publishers in other parts of the world, please contact each press directly.

Christian Gollier offers a powerful method for transforming societal goals of shared prosperity into the cornerstone of financial decision making. Ethical Asset Valuation and the Good Society builds a bridge between welfare economics and finance theory to provide a framework for establishing what asset prices should be on the basis of moral values. $30.00 / £24.95 cloth 978-0-231-17042-0 2017 248 pages

Kenneth J. Arrow Lecture Series

pau l m i lg r o m

c r e at i n g a d ls ec oavrenri nn gg

pr ces

Discovering Prices

Auction Design in Markets with Complex Constraints Paul Milgrom

a u c t io n D e s ig n i n ma r ke t s w i t h C o m p le x C o n s t ra i n t s

Paul Milgrom describes how auctions can be used to discover prices and guide efficient resource allocations. Milgrom roots his new theories in real-world examples (including the ambitious U.S. incentive auction of radio frequencies, whose design he led) and provides economists with crucial new tools for solving complex resource allocation problems. $28.00 / £22.95 cloth 978-0-231-17598-2 2017 248 pages

Kenneth J. Arrow Lecture Series

For more information visit: cup.columbia.edu

3


new and forthcoming

e debate over how

f naTure

planet and the life the authors make

ccess, to reinvent

ring and, above all,

avert disaster.”

rotherS FUnd

uture on Earth.

inability is our only

ovide overwhelming

w adopt them. A

e in a perfect mix.”

verSity

hey also explain

he world can

e.”

rSity

Natural Capital and the Quest for Sustainability

n why action is

ed, and how,

“A critical book at a critical time.”— John F. Kerry

earth at risk

and outs of

ul overview, one

ma.”

heNry and tubiaNa

book at a critical

allenge our world

ard. Chapter after

estling with reality.”

y oF State

earth at

risk

Confronting the Climate Challenge

WE ARE SQUANDERING

our planet’s natural capital—its biodiversity, water and soil, and climate stability— at a blistering pace. Major changes must

Natural Capital and the Quest for Sustainability be made to steer our planet and people

away from our current, doomed course. Though technology has been one of the

drivers of the current trend of unsustainable development, it is also one of the

U.S. Policy Options

essential tools for remedying it. Earth at

Risk maps out the necessary transition to sustainability, detailing the innovations in

science and technology, along with law,

institutional design, and economics, that can and must be put to use to avert environmental catastrophe.

Lawrence Goulder and Marc Hafstead

Claude Henry and Laurence Tubiana Claude Henry and Laurence Tubiana begin

with a measure of the costs of ecological damage—the erosion of biodiversity; air,

water, and soil pollution; and the widereaching effects of climate change—and then consider the solutions that are either now available or close on the horizon and that may lead to a more sustainable global

trajectory. What community-driven or mar-

ket-based tools can be used to promote sustainable development? How can renew-

able energy and energy storage advances help us decrease our use of fossil fuels? How can we substitute agroecology for the damaging chemical methods of industrialized agriculture? Is international agreement on climate goals possible? Building

Natural Capital and the Quest for Sustainability

Claude heNry and l aureNCe tubiaNa

COLUMBIA

Earth at Risk

on the experience of the most significant climate negotiation of the decade, Earth at Risk shows what a world organized along the principles of sustainability could look like, no matter how optimistic it may seem at the present moment. Though formidable obstacles remain to the realization of this significant transition, Henry and Tubiana present the case for collective initiatives and change that build momentum for implementation and action.

Earth at Risk shows what a world organized along the principles of sustainability could look like, building on the experience of the 2015 Paris Climate Conference. Though formidable obstacles remain, Claude Henry and Laurence Tubiana present the case for collective initiatives and change that build momentum for implementation and action.

Confronting the Climate Challenge presents a unique framework for evaluating the impacts of U.S. climate-policy options. Lawrence Goulder and Marc Hafstead demonstrate that these policies—if designed correctly—not only can reduce emissions at low cost but also can avoid burdening low-income households or especially vulnerable industries.

$35.00 / £27.95 cloth 978-0-231-16252-4

2017 376 pages 48 illus.

2017 376 pages

$65.00 / £54.95 cloth 978-0-231-17902-7

Determinants of Health

The Demand for Health

Michael Grossman

Michael Grossman

An Economic Perspective

An Economic Perspective

This collection of Michael Grossman’s most important papers adds essential background and depth to his work on economic determinants of public health. It contextualizes the issues and addresses the larger stakes of his work. Determinants of Health explains how the economic choices people make influence health and health behaviors.

A seminal work in health economics first published in 1972, Michael Grossman’s The Demand for Health introduced a new theoretical model for determining the health status of the population. His work uniquely synthesized economic and public health knowledge and has catalyzed a vastly influential body of health economics literature..

$80.00 / £66.95 cloth 978-0-231-17812-9

$20.00 / £15.95 paper 978-0-231-179010-3

2017 832 pages 22 illus.

$60.00 / £49.95 cloth 978-0-231-17900-3

2017 216 pages

4

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New and Forthcoming

A New Foreign Policy

Sovereign Wealth Funds in Resource Economies

Beyond American Exceptionalism

Institutional and Fiscal Foundations

Jeffrey D. Sachs

Khalid Alsweilem and Malan Rietveld

Jeffrey D. Sachs presents timely and achievable plans to foster global economic growth and shift from war making to peacemaking. A New Foreign Policy explores both the danger of the “America first” mindset and the concrete steps the United States must take to build a multipolar world that is prosperous, peaceful, fair, and resilient.

Sovereign Wealth Funds in Resource Economies explains the fiscal rules and institutional structures that can make SWFs thrive, providing a practical and theoretical guide to their optimal use in resource-revenue management. Khalid Alsweilem and Malan Rietveld's institutional perspective examines both investment and disbursement strategies.

$17.95 / £14.95 cloth 978-0-231-18848-7

$65.00 / £54.95 cloth 978-0-231-18354-3

2018 128 pages

2017 304 pages 14 illus.

The New Frontiers of Sovereign Investment THE NEW

FRONTIERS OF

Edited by Malan Rietveld and Perrine Toledano

How Much

INEQUALITY Is Fair?

Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

SOVEREIGN INVESTMENT

How Much Inequality Is Fair? Mathematical Principles of a Moral, Optimal, and Stable Capitalist Society

Venkat Venkatasubramanian

Edited by MALAN RIETVELD & PERRINE TOLEDANO

The New Frontiers of Sovereign Investment combines the insights and experience of academic economists and practitioners from several funds to survey a diverse financial landscape and the challenging questions facing a broad range of SWFs today. This book provides a sorely needed practical look at how these funds work—and how they should work. $65.00 / £54.95 cloth 978-0-231-17750-4

V E N K AT V E N K ATA S U B R A M A N I A N

How Much Inequality Is Fair? synthesizes concepts from economics, political philosophy, game theory, information theory, statistical mechanics, and systems engineering into a mathematical framework for a fair free-market society. Venkat Venkatasubramanian compares his theory’s predictions to actual inequality data and discusses its implications.

2017 312 pages 20 illus.

$60.00 / £49.95 cloth 978-0-231-18072-6

2017 304 pages 35 illus.

For more information visit: cup.columbia.edu

5


new and forthcoming

Law and the Wealth of Nations Finance, Prosperity, and Democracy Tamara Lothian

The Fracking Debate

THE FRACKING DEBATE

The Risks, Benefits, and Uncertainties of the Shale Revolution Daniel Raimi

THE RISKS, BENEFITS, AND UNCERTAINTIES OF THE SHALE REVOLUTION

DANIEL RAIMI

Tamara Lothian shows a path to the reconstruction of the economy in the service of both growth and inclusion that would reignite economic growth by democratizing the market. Law and the Wealth of Nations offers a progressive approach to the supply side of the economy and proposes innovation in our fundamental economic arrangements.

Daniel Raimi gives a balanced and accessible view of oil and gas development, clearly and thoroughly explaining the key issues surrounding the shale revolution. The Fracking Debate provides the evidence and context that have so frequently been missing from discussion of the future of oil and gas production.

$35.00 / £27.95 cloth 978-0-231-17466-4

$30.00 / £24.95 cloth 978-0-231-18486-1

2017 416 pages

2017 280 pages 30 illus.

Center on Global Energy Policy Series

The Art of Sanctions THE

ART

OF

rober t mcnally

A View from the Field Richard Nephew

A View from the Field

crude

Crude Volatility

The History and the Future of Boom-Bust Oil Prices Robert McNally

VOLATILITY

Richard Nephew

The hisTory and The FuTure oF Boom-BusT oil Prices

The Art of Sanctions offers a practical framework for planning and applying sanctions based on two critical factors: pain and resolve. Focusing on lessons learned from sanctions on Iran and Iraq, Richard Nephew provides policymakers with practical guidance on how to measure and respond to pain and resolve to achieve successful sanctions regimes. $35.00 / £27.95 cloth 978-0-231-18026-9

Crafting an engrossing journey from the Pennsylvania oil fields of the 1860s to today's Middle East, Crude Volatility shows how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Robert McNally explains how oil became so central to our world and why it is subject to such extreme price fluctuations.

2017 232 pages

$35.00 / £27.95 cloth 978-0-231-17814-3

Center on Global Energy Policy Series

2017 336 pages

6

Center on Global Energy Policy Series

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New and Forthcoming

The Welfare State Revisited

Edited by José Antonio Ocampo and Joseph E. Stiglitz

EFFICIENCY, FINANCE, AND VARIETIES OF

INDUSTRIAL POLICY Guiding Resources, Learning, and Technology for Sustained Growth

e di t ed b y

Akbar Noman & Joseph E. Stiglitz

Efficiency, Finance, and Varieties of Industrial Policy

Guiding Resources, Learning, and Technology for Sustained Growth Edited by Akbar Noman and Joseph E. Stiglitz

The welfare state has been under attack for decades, but now more than ever we need strong social programs to combat inequality, support social justice, and even improve economic performance. This book brings together distinguished contributors to examine global variations of social programs and make the case for a redesigned welfare state.

This volume revisits the role of industrial policy, discussing the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India’s experience with industrial policy in the banking and private sector.

$70.00 / £58.95 cloth 978-0-231-18544-8

$70.00 / £58.95 cloth 978-0-231-18050-4

2018 384 pages 65 illus.

2016 528 pages 113 illus.

Initiative for Policy Dialogue at Columbia:

Initiative for Policy Dialogue at Columbia:

Challenges in Development and Globalization

Challenges in Development and Globalization

TOO LITTLE, TOO L ATE The Quest to Resolve Sovereign Debt Crises

Too Little, Too Late

Toward a Just Society

The Quest to Resolve Sovereign Debt Crises

Joseph Stiglitz and Twenty-First Century Economics

Edited by Martin Guzman, José Antonio Ocampo, and Joseph E. Stiglitz

Edited by Martin Guzman

Martin Guzman, José Antonio Ocampo, & Joseph E. Stiglitz, Editors

The current approach to resolving sovereign debt crises does not work: sovereign debt restructurings come too late and do too little. Providing guidance for those who intend to take up reform, this book assesses the relative merits of various debt-restructuring proposals, especially in relation to the main deficiencies of the current nonsystem. $70.00 / £58.95 cloth 978-0-231-17926-3

This collection of essays reflects on how modern economics has been shaped by Joseph Stiglitz. High-profile authors spanning microeconomics, macroeconomics, inequality, development, law and economics, and public policy take up the central debates and discoveries of the field and provide insights on the future directions of academic economics.

2016 312 pages 13 illus.

$75.00 / £62.95 cloth 978-0-231-18672-8

Initiative for Policy Dialogue at Columbia:

2018 640 pages 57 illus.

Challenges in Development and Globalization

For more information visit: cup.columbia.edu

7


new and forthcoming

Game Theory and Climate Change

Coping with the Climate Crisis

Parkash Chander

Mitigation Policies and Global Coordination

Rabah Arezki, Patrick Bolton, Karim El Aynaoui, Maurice Obstfeld

Parkash Chander argues that we can make progress on the climate-change impasse through incorporating the insights of game theory. Chander offers economic and game-theoretic interpretations of both the Kyoto Protocol and the Paris Agreement and discusses the policy recommendations his framework generates.

Coping with the Climate Crisis brings together leading experts from academia and policy circles to explore issues related to the implementation of the COP21 Paris Agreement and the challenges of accelerating the transition toward sustainable development. The book synthesizes the key insights of climate change economics in an accessible guide.

$70.00 / £58.95 cloth 978-0-231-18464-9

$60.00 / £49.95 cloth 978-0-231-18756-5

2018 336 pages 19 illus.

2018 208 pages 30 illus.

The Economics of Airlines

The Economics of Arms

Volodymyr Bilotkach

Keith Hartley

This book explores the economic realities of the airline industry, how airlines compete, how they develop their business, and how demand and cost structure, coupled with the complex regulatory regime, produces the airline industry we see today. Volodymyr Bilotkach provides an unrivaled analysis of how the airline industry makes and loses money.

This book explains how the arms industry makes its money. Keith Hartley offers an authoritative nontechnical introduction to the economics of arms industries and considers future trends, such as whether arms industries are better under state or private ownership, and how they can meet the challenge of new threats in different forms.

$23.00 / £19.00 paper 978-1-911116-14-1

$23.00 / £19.00 paper 978-1-911116-24-0

$75.00 / £62.95 cloth 978-1-911116-13-4

$75.00 / £62.95 cloth 978-1-911116-23-3

2017 176 pages

2017 176 pages

Agenda Publishing

Agenda Publishing

8

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New and Forthcoming

Everyday Economics

The History of Economics

A User's Guide to the Modern Economy

A Course for Students and Teachers

Steve Coulter

Roger E. Backhouse and Keith Tribe

This book explores the role played by the individual in the economy, in particular, how the individual experiences the economy. It shows the role of government, markets, and welfare in shaping our lives, providing an overview of the workings of the economy that takes as its starting point the interface between the individual and the system.

Roger E. Backhouse and Keith Tribe present a broad introduction to the history of economic thought that provides much-needed context behind the development of ideas and a guide through the original writings of major economists. They seek to emphasize a diversity that is sometimes suppressed in more conventional textbooks.

$30.00 / £24.95 paper 978-1-911116-36-3

$30.00 / £24.95 paper 978-1-911116-70-7

$95.00 / £79.95 cloth 978-1-911116-35-6

$95.00 / £79.95 cloth 978-1-911116-69-1

2017 288 pages

2017 320 pages

Agenda Publishing

Agenda Publishing

An Economic History of Europe Since 1700

Behavioural Economics

Vera Zamagni

Graham Mallard

Vera Zamagni provides a new economic history of Europe from the birth of industrialization to the financial crisis and its aftermath. The remarkable story of European economic growth is set within the wider context of world economic progress and alongside developments in Asia, Eastern Europe, and the United States to provide an up-to-date survey.

This book introduces behavioural economics, explaining its approach and methodology and assessing its successes and weaknesses. Graham Mallard explores how it has advanced our understanding of human preferences and decision making and the ways in which findings from behavioural economics have been used to alter the decisions people make.

$30.00 / £24.95 cloth 978-1-911116-39-4

$23.00 / £19.00 paper 978-1-911116-41-7

$90.00 / £74.95 cloth 978-1-911116-38-7

$70.00 / £58.95 cloth 978-1-911116-40-0

2017 320 pages

2017 176 pages

Agenda Publishing

Agenda Publishing

For more information visit: cup.columbia.edu

9


new and forthcoming

Planning for Crisis

The Paradox of Risk

Strategy and Management Theory and the Impact of Economic Uncertainty

Leaving the Monetary Policy Comfort Zone Ángel Ubide

Carol M. Connell

Carol M. Connell investigates how theorists have drawn from economic recessions to inform strategies for institutional management and growth in times of crisis. She explores research and theory from economics, the behavioral and social sciences, finance, and business management devoted to limiting the effects of economic downturns.

The Paradox of Risk contends that central banks’ fear of inflation and risk taking has hampered their efforts to revive global prosperity. Ángel Ubide mobilizes a wealth of research on the experience from the last decade, urging policymakers to leave their "comfort zone," embrace risk taking, and take bolder action to brighten economic prospects.

$95.00 / £79.95 cloth 978-1-911116-05-9

$23.95 / £19.95 paper 978-0-88132-719-9

2017 320 pages

2017 170 pages

Agenda Publishing

Peterson Institute for International Economics

Marginalism

The Market

Matthew Watson

Matthew Watson unpacks the concept of the market to ask what does it really mean to allow ourselves to submit to market forces. This book provides a deeper appreciation of the dominant economic language of our time, challenging the idea that we can simply defer to the “logic of the market.” $27.00 / £23.00 paper 978-1-911116-61-5

Bert Mosselmans

The notion of marginalism is central to modern economic theory. Its emergence in the 1870s underpinned the change from classical economics to modern (micro)economics. This book explores the origins of the concept, its development, and its role in modern economics and shows why the marginalist approach is much more than a set of mathematical rules.

$90.00 / £74.95 cloth 978-1-911116-60-8

$23.00 / £19.00 paper 978-1-911116-67-7

2017 208 pages

$70.00 / £58.95 cloth 978-1-911116-66-0

Agenda Publishing

2018 192 pages

Agenda Publishing

10

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New and Forthcoming

Degrowth

The Federal Reserve and its Founders

Giorgos Kallis

Money, Politics, and Power Richard Naclerio

Giorgos Kallis summarizes the core elements of degrowth, a critique of the idea (and ideology) of economic growth. Kallis grounds degrowth squarely within the field of ecological economics and, in addition to outlining its key ideas, explores what it would take for an economy to transition to a position that enabled it to prosper without growth.

Richard A. Naclerio investigates the events that surrounded the U.S. Federal Reserve's creation and the bankers, financiers, and economists who shaped its role over the next century. He sheds new light on the making of one of the world's most important financial institutions and how it came to have such crucial national and international influence.

$23.00 / £19.00 paper 978-1-911116-80-6

$70.00 / £58.95 cloth 978-1-911116-03-5

$70.00 / £58.95 cloth 978-1-911116-79-0

2018 288 pages 20 illus.

2018 176 pages

Agenda Publishing

Agenda Publishing

$25.00 / £20.00 paper 978-1-911116-78-2

Civil Economy

Analysing Corruption

Another Idea of the Market

An Introduction Dan Hough

Luigino Bruni and Stefano Zamagni

Luigino Bruni and Stefano Zamagni, advocate for a civil economy, which places well-being, virtue, and the common good alongside more familiar economic goals. This book explores the civil economy approach's origins and development, examines its pioneers and main representatives, and explains the many different fields of application.

This textbook introduces students to the field of corruption analysis and the challenges facing its researchers. Dan Hough provides an authoritative and engaging introduction to a subject that remains the largest public policy challenge that the state faces in many parts of the world.

$20.00 / £16.00 paper 978-1-911116-004

$85.00 / £70.95 cloth 978-1-911116-54-7

$30.00 / £24.95 paper 978-1-911116-55-4

$65.00 / £54.95 cloth 978-1-911116-01-1

2017 256 pages

2017 160 pages

Agenda Publishing

Agenda Publishing

For more information visit: cup.columbia.edu

11


new and forthcoming

The Money Laundering Market

Facing Up to Low Productivity Growth

Regulating the Criminal Economy

Edited by Jeromin Zettelmeyer and Adam Posen

Edited by Killian McCarthy

This volume takes an integrated look at money laundering, by considering the laws, the launderers, and the new economics of money laundering in the digital age. $90.00 / £74.95 cloth 978-1-911116-43-1 2017 288 pages

Agenda Publishing

This volume analyze the impact of sustained lower productivity growth on public finances, social protection, trade, capital flows, wages, and inequality. It concludes that slow productivity growth could aggravate inequality and increase concentration of market power and also proposes ways that countries can cope with these consequences. $23.95 / £19.95 paper 978-0-88132-731-1 2018 175 pages

Peterson Institute for International Economics

Sustaining Economic Growth in Asia

The Democratic Developmental State

Edited by Jérémie CohenSetton, Thomas Helbling, and Adam Posen

North-South Perspectives

Edited by Chris Tapscott, Tor Halvorsen, and Teresita Cruz-Del Rosario

Sustaining Economic Growth in Asia explores the relevance to several Asian economies of the diagnosis known as “secular stagnation.” Leading experts discuss the fiscal and monetary policy challenges of reviving growth without generating domestic financial imbalances in essays on innovation, demographics, spillovers, and various policy proposals.

The concept of a democratic developmental state is part of the current development discourse advocated by international aid agencies, deliberated on by academics, and embraced by policymakers in many emerging economies in the global South. This volume investigates these attempts to establish a new and more inclusive conceptualization of the state.

$23.95 / £19.95 paper 978-0-88132-733-5

$45.00 / £37.95 paper 978-3-8382-1045-2

2018 175 pages

2018 302 pages

Peterson Institute for International Economics

ibidem Press

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New and Forthcoming

World on the Move

Poverty in a Rich Society

Consumption Patterns in a More Equal Global Economy

The Case of Hong Kong

Edited by Maggie Lau and David Gordon

Paolo Mauro and Tomas Hellebrandt Assisted by Jan Zilinsky

The world is poised on the threshold of economic changes that will reduce the income gap between the rich and poor on a global scale. Tomas Hellebrandt and Paolo Mauro detail how this important moment in world history will unfold and serve as a warning to policymakers to prepare for the profound effects on the world economy and the planet. $23.95 / £19.95 paper 978-0-88132-716-8 2016 166 pages

Peterson Institute for International Economics

This book brings together some of Hong Kong’s and the U.K.’s leading experts to examine poverty in Hong Kong. It advances the theory and practice of poverty and social exclusion measurement, and will inspire comparative research and policy analyses for better policy initiatives. $52.00 / £43.95 cloth 978-962-996-788-8 2017 210 pages

The Chinese University Press

Managing Expatriates

Cornerstone Investors

Edited by Heiko Rüger, Deniz Ones, and Brenton Wiernik

Philippe Espinasse

Success Factors in Private and Public Domains

A Practice Guide for Asian IPOs

This volume examines the individual, social, and environmental factors that contribute to the success of expatriate employees. Using data from large-scale studies from both the public and private sectors, contributors provide valuable insights into expatriate success with implications for both theoretical understanding and practical management.

Philippe Espinasse explains the process of gathering cornerstone investors in connection with IPOs and other equity offerings. This essential guide contains key information on the legal framework for cornerstone investors in Hong Kong, Malaysia, and Singapore and offers practical advice on how best to structure and conduct a cornerstone offering.

$60.00 / £49.95 cloth 978-3-8474-2031-6

$45.00 / £37.95 cloth 978-988-8455-84-3

2017 300 pages

2018 256 pages

Barbara Budrich Publishers

Hong Kong University Press

For more information visit: cup.columbia.edu

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new and forthcoming

Fixing Inequality in Hong Kong

The Contradictions of Capital in the TwentyFirst Century

Yue Chim Richard Wong

The Piketty Opportunity

Edited by Pat Hudson and Keith Tribe

Fixing Inequality in Hong Kong argues that universal retirement support, minimum wage, and standard hours of work are of limited effect in alleviating inequality. Comparing Hong Kong with Singapore, Richard Wong shows that Hong Kong needs a new long-term strategy, recommending more investment in education and immigration policy reforms.

This volume builds upon the renewed interest in the long-run global development of wealth and inequality stimulated by Thomas Piketty. It brings together an international team of leading economic historians and economists to provide a comprehensive overview of the theory, practice, and policy of inequality and its place in the modern world order.

$65.00 / £54.95 cloth 978-988-8390-62-5

$95.00 / £79.95 cloth 978-1-911116-10-3

2017 288 pages

2017 256 pages

Hong Kong University Press

Agenda Publishing

$30.00 / £24.95 paper 978-1-911116-11-0

Karl Marx’s ‘Capital’ and the Present

Capitalism, Socialism, and Property Rights

Four Essays

Why Market Socialism Cannot Substitute the Market

C. P. Chandrasekhar

Foreword by Prabhat Patnaik

This book presents four lectures on Marx's Capital, delivered by C. P. Chandrasekhar on Volume 1's anniversary: "Capital and the Critique of Bourgeois Political Economy"; "Order and Anarchy in the Capitalist System"; 'Revisiting Capital in the Age of Finance"; and "Marx's Capital and the Current Crisis in Capitalism." $19.00 / £14.95 cloth 978-81-93401-56-9

Mateusz Machaj

Mateusz Machaj offers an in-depth examination of one of the defining issues that separates capitalism from socialism—the system of ownership or property rights—to highlight fundamental problems in the market socialism model. He shows that the mechanism of efficiency in market socialism is unable to play the part ascribed to it by its theoreticians.

2018 112 pages

$90.00 / £74.95 cloth 978-1-78821035-5

Tulika Books

2018 240 pages

Agenda Publishing

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New and Forthcoming

Currency Conflict and Trade Policy

The New Politics of Trade

A New Strategy for the United States

Lessons from TTIP Alasdair R. Young

C. Fred Bergsten and Joseph E. Gagnon

C. Fred Bergsten and Joseph E. Gagnon trace the history, causes, and effects of currency manipulation and analyzes a range of policy responses that the United States could adopt. The book is an indispensable guide to a complex and serious problem and what might be done to solve it. $25.95 / £20.95 paper 978-0-88132-726-7

Alasdair Young analyzes the Transatlantic Trade and Investment Partnership negotiations and explores why they have proved so difficult to conclude. He sheds light on the limits of transatlantic cooperation and teases out the implications for the UK in post-Brexit trade negotiations and for facing a more protectionist stance from the United States.

2017 230 pages

$23.00 / £19.00 paper 978-1-911116-75-2

Peterson Institute for International Economics

$85.00 / £70.95 cloth 978-1-911116-74-5

2017 192 pages

Agenda Publishing

The Political Economy of Brexit

Banking's Final Exam Stress Testing and BankCapital Reform

Edited by David Bailey and Leslie Budd

Morris Goldstein

This collection of essays explores the ramifications of the Brexit decision for the UK and European economies. These essays provide an important first step in assessing the threats and challenges that a Brexit poses for the UK and wider EU economy and will be welcome reading for anyone in search of some rigor and clarity amid the hyperbole.

In Banking’s Final Exam, one of the world’s leading experts on banking regulation concludes that financial institution stress tests suffer from fundamental weaknesses, leading to a false sense of security about the soundness of the banking system. Some can be corrected within the existing bank-capital regime, but others will require bold reforms.

$25.00 / £20.00 paper 978-1-911116-64-6

$23.95 / £19.95 paper 978-0-88132-705-2

$85.00 / £70.95 cloth 978-1-911116-63-9

2017 350 pages

2017 192 pages

Peterson Institute for International Economics

Agenda Publishing

For more information visit: cup.columbia.edu

15


best of the backlist

Moral Hazard in Health Insurance

Speculation, Trading, and Bubbles

Amy Finkelstein

José A. Scheinkman

With Kenneth J. Arrow, Jonathan Gruber, Joseph P. Newhouse, and Joseph E. Stiglitz

With Kenneth J. Arrow, Patrick Bolton, Sanford J. Grossman, and Joseph E. Stiglitz

Drawing on research from both the original RAND Health Insurance Experiment and her own research, including a 2008 Health Insurance Experiment in Oregon, Amy Finkelstein presents compelling evidence that health insurance does indeed affect medical spending and encourages policy solutions that acknowledge and account for this.

In this book, José A. Scheinkman offers new insight into the mystery of bubbles. Noting some general characteristics of bubbles—such as the rise in trading volume and the coincidence between increases in supply and bubble implosions— Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations.

$19.95 / £14.95 cloth 978-0-231-16380-4

$19.95 / £14.95 cloth 978-0-231-15902-9

2014 160 pages

2014 128 pages

Kenneth J. Arrow Lecture Series

Kenneth J. Arrow Lecture Series

The Arrow Impossibility Theorem Eric Maskin and

Amartya Sen

With Kenneth J. Arrow,

Partha Dasgupta, Prasanta K. Pattanaik, and Joseph E. Stiglitz

j o s e p h e . st i g l i t z a n d bruce c. greenwald

c r e at i n g a learning society

Creating a Learning Society

A New Approach to Growth, Development, and Social Progress Joseph E. Stiglitz and Bruce C. Greenwald

a new approach to growth, development, and social progress

With Robert M. Solow, and Michael Woodford

In this book Eric Maskin and Amartya Sen explore the implications of Kenneth J. Arrow’s pathbreaking “impossibility theorem.” Sen considers its ongoing utility, exploring the theorem’s value and limitations in relation to recent research on social reasoning, and Maskin discusses how to design a voting rule that gets us closer to the ideal—given the impossibility of achieving the ideal.

To understand how countries grow and develop, it is essential to know how they learn and become more productive and what government can do to promote learning. In Creating a Learning Society, Joseph E. Stiglitz and Bruce C. Greenwald cast light on the significance of this insight for economic theory and policy.

$19.95 / £14.95 cloth 978-0-231-15328-7

2014 680 pages Charts: 45,

2014 1686 pages

Kenneth J. Arrow Lecture Series

Kenneth J. Arrow Lecture Series

16

$34.95 / £27.95 cloth 978-0-231-15214-3

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best of the backlist

The Age of Sustainable Development

Foreword by

ban Ki-moon

ECONOMIC THOUGHT

Jeffrey D. Sachs

A BRIEF HISTORY

Foreword by Ban Ki-moon

Economic Thought A Brief History Heinz D. Kurz

Translated by Jeremiah Riemer

THE AGE OF SUSTAINABLE DEVELOPMENT EDwARD O. wilSOn

JEFFREY D. SACHS

HEINZ D. KURZ

Jeffrey D. Sachs presents a compelling and practical framework for how global citizens can use a holistic way forward to address the seemingly intractable worldwide problems of persistent extreme poverty, environmental degradation, and political-economic injustice. Sachs offers readers, students, activists, environmentalists, and policy makers the tools, metrics, and practical pathways they need to address these issues through sustainable development.

In this concise yet comprehensive history, Heinz D. Kurz traces the long arc of economic thought from its emergence in ancient Greece to its systematic presentation among the classical thinkers of the late eighteenth and early nineteenth centuries to the influential work of scholars such as Paul Samuelson and Kenneth J. Arrow. $20.00 / £14.95 paper 978-0-231-17259-2 $27.00 / £21.95 cloth 978-0-231-17258-5 2017 224 pages

$39.95 / £32.95 paper 978-0-231-17315-5 2015 544 pages

JEFFREY D. SACHS

BUILDING THE NEW AMERICAN ECONOMY

SMART, FAIR, & SUSTAINABLE

FOREWORD BY BERNIE SANDERS

Building the New American Economy Smart, Fair, and Sustainable

Jeffrey D. Sachs Foreword by Bernie Sanders

ec end on an om ge geo ffr re ey i e Hea s d l

tHr How eat tH ens e n our egle pro ct o spe f na rit tur y e

“My candidate for most important book in current circulation.”

Jeffrey D. Sachs shows how the United States can find a path to renewed economic progress that is fair and environmentally sustainable. Sachs explores issues including infrastructure, trade deals, energy policy, and income inequality, providing illuminating and accessible explanations of the forces at work and specific policy solutions. $12.95 / £9.95 paper 978-0-231-8405-2

Endangered Economies

How the Neglect of Nature Threatens Our Prosperity Geoffrey Heal

One of the founders of environmental economics clearly and passionately demonstrates that the only way to achieve long-term economic growth is to protect our environment. After painting a stark picture of our current state, Geoffrey Heal outlines simple solutions that have already proven effective in conserving nature and boosting economic growth.

$17.95 / £14.95 cloth 978-0-231-18404-5

$35.00 / £27.95 cloth 978-0-231-18084-9

2017 152 pages

2016 240 pages

For more information visit: cup.columbia.edu

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best of the backlist

HOW CHINA IS BUILDING A GLOBAL CURRENCY

THE PEOPLE’S

M NEY

The People’s Money

How China Is Building a Global Currency Paola Subacchi

Jonathan Schwabish

The People's Money introduces readers to China's monetary system, mapping its evolution over the past century and, particularly, its transformation since Deng Xiaoping took power in 1978. Paola Subacchi shows that the key to understanding China's economic predicament lies in past and future strategies for the renminbi. $35.00 / £27.95 cloth 978-0-231-17346-9 2016 256 pages

Ac h i e v i ng Be t t e r A n d cl e A n e r grow t h

BETTER PRESENTATIONS

A Guide for Scholars, Researchers, and Wonks Jonathan Schwabish

A Guide for Scholars, Researchers, and Wonks

PA O L A S U B A C C H I

The economics of Air PolluTion in chinA

Better Presentations

Following three core principles—visualize, unify, and focus—Better Presentations describes how to visualize data effectively, find and use images appropriately, choose sensible fonts and colors, edit text for powerful delivery, and restructure a written argument for maximum engagement and persuasion. With a range of clear examples for what to do (and what not to do), Jonathan Schwabish provides the best techniques to display work and the best tactics for winning over audiences. $24.95 / £19.95 paper 978-0-231-17521-0 $75.00 / £62.95 cloth 978-0231-17520-3 2016 192 pages

The Economics of Air Pollution in China Achieving Better and Cleaner Growth Ma Jun

Governing Access to Essential Resources GOVERNING A C C E S S to ESSENTIAL RESOURCES

Edited by Katharina Pistor and Olivier De Schutter

Edited by

k at h a r i n a p i s t o r and olivier de schutter

mA Jun

The Economics of Air Pollution in China makes the case that the trade-off between growth and environment is not inevitable. In his ambitious proposal to tackle severe air pollution, Ma Jun argues that in targeting pollution, China has a real opportunity to undertake significant structural economic reforms that would support long-term growth.

This book argues that essential resources ought to be governed by a combination of Voice and Reflexivity: the ability of social groups to choose the rules by which they are governed and the opportunity to question one's own preferences in light of competing claims and to accommodate them in a collective learning process.

$65.00 / £54.95 cloth 978-0-231-17494-7

$60.00 / £49.95 cloth 978-0-231-17278-3

2016 312 pages 87 illus.

2015 392 pages 14millus.

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