2019 Columbia University Press Economics Catalog

BEST OF THE BACKLIST

Economics 2019

New and Forthcoming Titles

To save 30% on economics titles, order online at cup.columbia.edu and enter code CONF.

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

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1

TABLE OF CONTENTS

NEW AND FORTHCOMING

Ten Years After the Crash

New and Forthcoming...........................................2 Best of the Backlist .............................................14

Financial Crises and Regulatory Responses

New in Paperback...............................................19

Ordering Information.......................................... 19

Edited by Sharyn O'Halloran and Thomas Groll

Manuscript queries and proposals can be sent to Myles Thompson (mt2112@columbia.edu), senior editor for business and economics.

For a complete listing of Columbia’s titles or for more information about any book in this catalog visit our website at cup.columbia.edu.

Most titles in this catalog published by Columbia University Press are available worldwide from the press. If no United Kingdom price appears for a title, it is most likely available from Columbia only in the United States, its possessions, and Canada.

Titles published by Agenda Publishing, ibidem Press, Chinese University Press, and Tulika Books 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.

Ten Years After the Crash is an innovative analysis of the financial crisis and its ongoing influence on the global regulatory, financial, and political landscape, with timely discussions of the key issues for our economic future. It brings together a range of expert and practitioner perspectives, including the Nobel Prize winner Joseph Stiglitz, former congressman Barney Frank, former treasury secretary Jacob Lew, and Steve Cutler, general counsel of JP Morgan Chase during the financial crisis. $35.00 / £27.00 cloth 978-0-231-19284-2 August 2019 384 pages

Renewable Energy A Primer for the Twenty-First Century

Bruce Usher

Bruce Usher provides a primer for readers of all levels on the coming energy transition and its global consequences. He provides a concise yet comprehensive explanation for the extraordinary growth in wind and solar energy; the trajectory of the transition from fossil fuels to renewables; and the implications for industries, countries, and the climate. $20.00 / £14.99 paper 978-0-231-18785-5 $60.00 / £47.00 cloth 978-0-231-18784-8 2019 224 pages / 34 illus.

Columbia University Earth Institute Sustainability Primers

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New and Forthcoming

City of Workers, City of Struggle

Threatening Property

Edited by Joshua B. Freeman

Elizabeth A. Herbin-Triant

Race, Class, and Campaigns to Legislate Jim Crow Neighborhoods

How Labor Movements Changed New York

From the founding of New Amsterdam until today, working people have helped create and re-create the City of New York through their struggles.

Starting with artisans and slaves in colonial New York and ranging all the way to twenty-firstcentury gig-economy workers, this book tells the story of New York’s labor history anew. $40.00 / £30.00 cloth 978-0-231-19192-0 June 2019 320 pages

Columbia Studies in the History of U.S. Capitalism

Elizabeth A. Herbin-Triant explores what the split over residential–segregation laws reveals about competing versions of white supremacy and about the position of middling whites in a region dominated by elite planters and businessmen. An illuminating work of social and political history, Threatening Property puts class front and center in explaining conflict over the expansion of segregation laws into private property. $35.00 / £27.00 paper 978-0-231-18971-2 $105.00 / £81.00 cloth 978-0-231-18970-5 May 2019 336 pages

Columbia Studies in the History of U.S. Capitalism

Banking on Freedom

The Federal Reserve and Its Founders

Black Women in U.S. Finance Before the New Deal

Money, Politics, and Power Richard Naclerio

Shennette Garrett-Scott

Between 1888 and 1930, African Americans opened more than a hundred banks and thousands of other financial institutions. In Banking on Freedom, Shennette Garrett-Scott explores this rich period of black financial innovation and its transformative impact on U.S. capitalism through the story of the St. Luke Bank in Richmond, Virginia, the first and only bank run by black women. $35.00 / £27.00 paper 978-0-231-18391-8 $105.00 / £81.00 cloth 978-0-231-18390-1 May 2019 296 pages

Columbia Studies in the History of U.S. Capitalism

For more information, visit cup.columbia.edu

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 in its first 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. $25.00 paper 978-1-911116-78-2 $70.00 cloth 978-1-911116-03-5 2018 288 pages / 20 illus.

Agenda Publishing

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New and Forthcoming

The New Stock Market

Flawed Capitalism

Merritt B. Fox, Lawrence R. Glosten, and Gabriel V. Rauterberg

David Coates

The Anglo-American Condition and Its Resolution

Law, Economics, and Policy

The New Stock Market covers a wide range of issues, including the practices of high-frequency traders, insider trading, manipulation, short selling, broker-dealer practices, and trading, venue fees, and rebates. The book illuminates both the existing regulatory structure of our equity–trading markets and how we can improve it. $65.00 / £50.00 cloth 978-0-231-18196-9 2019 408 pages

Flawed Capitalism traces the history of the United States and United Kingdom economies through their New Deal and then Reaganite and Thatcherite periods, showing how the weakening of labor and deregulation of business culminated in the 2008 financial crisis. David Coates makes the case for the transatlantic creation of a new social settlement, based on greater inc0me equality and social justice—a less flawed capitalism. $35.00 cloth 978-1-9111-1633-2 2018 288 pages

Agenda Publishing

Alexander Hamilton on Finance, Credit, and Debt

Creditworthy

A History of Consumer Surveillance and Financial Identity in America

Richard Sylla and David J. Cowen

Josh Lauer Creditworthy

a His t o ry o f C o ns um e r s urv e il l a nCe a nd fina nC ia l

Josh Lauer

id e nt it y in a m e r iCa

Winner of the SSN Book Award from the Surveillance Studies Network

$30.00 / £24.00 cloth 978-0-231-18456-4

Josh Lauer explores the evolution of credit reporting from its nineteenth-century origins to the rise of the modern consumer–data industry.

Creditworthy charts how credit reporting grew from an industry that relied on personal knowledge of consumers to one that employs sophisticated algorithms to determine trustworthiness, highlighting the role that commercial surveillance has played in monitoring Americans' economic lives.

2018 360 pages

$35.00 / £27.00 cloth 978-0-231-16808-3

This book traces the development of Alexander Hamilton’s financial thinking, policies, and actions through a selection of his writings. The financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system, guiding readers through Hamilton’s distinguished career.

2017 368 pages /19 illus.

Columbia Studies in the History of U.S. Capitalism

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New and Forthcoming

Confronting Inequality

Toward a Just Society

Jonathan D. Ostry, Prakash Loungani, and Andrew Berg

Edited by Martin Guzman

Joseph Stiglitz and Twenty-First Century Economics

How Societies Can Choose Inclusive Growth

Foreword by Joseph E. Stiglitz

Inequality has drastically increased in many countries around the globe over the past three decades. The widening gap between the very rich and everyone else is often portrayed as an unexpected outcome or as the tradeoff we must accept to achieve economic growth. In this book, three International Monetary Fund economists show that this increase in inequality has in fact been a political choice—and explain what policies we should choose instead to achieve a more inclusive economy.

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. $75.00 / £60.00 cloth 978-0-231-18672-8 2018 640 pages / 57 illus.

$30.00 / £24.00 paper 978-0-231-17469-5 $90.00 / £70.00 cloth 978-0-231-17468-8 2019 192 pages

The Welfare State Revisited

Edited by José Antonio Ocampo and Joseph E. Stiglitz

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

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

Ethical Asset Valuation and the Good Society Christian Gollier

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.

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.

$70.00 / £54.00 cloth 978-0-231-18544-8

$30.00 / £24.00 cloth 978-0-231-17042-0

2018 384 pages / 65 illus.

2017 248 pages

Initiative for Policy Dialogue at Columbia:

Kenneth J. Arrow Lecture Series

Challenges in Development and Globalization

For more information, visit cup.columbia.edu

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New and Forthcoming

Degrowth

Game Theory and Climate Change

Giorgos Kallis

Parkash Chander

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.

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.

$23.00 paper 978-1-911116-80-6

2018 344 pages / 19 illus.

$70.00 / £54.00 cloth 978-0-231-18464-9

$70.00 cloth 978-1-911116-79-0 2018 176 pages

Agenda Publishing

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

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

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

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

Population Ethics for a Diminishing Planet

turned economist, is a professor of sustainable development at Sciences

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

Po Paris and at Columbia University.

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

He is also currently president of the

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

“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,

LAURENCE TUbIANA

is

to take with fierce urgency, the bold steps necessary to avert disaster.”

Partha Dasgupta

the founder and director of the Insti-

— Stephen heintz, preSident, rocKeFeller BrotherS FUnd

tute of Sustainable Development and

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

International Relations and professor 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, 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

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

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

earth at risk

CLAUDE HENRy, a physicist

heNry and tubiaNa

Time and the Generations

$28.00 / £22.00 cloth 978-0-231-16012-4

COLUMBIA

WE ARE SQUANDERING

our planet’s natural capital—its biodiversity, water and soil, and climate stability—

at a blistering pace. Major changes must be made to steer our planet and people away from our current, doomed course.

Though technology has been one of the

Natural Capital and the Quest for Sustainability drivers of the current trend of unsustainable development, it is also one of the 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.

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 market-based tools can be used to promote

sustainable development? How can renewable 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 agree-

Claude heNry and l aureNCe tubiaNa

cup.columbia.edu

How should we evaluate the ethics of procreation, especially the environmental consequences of reproductive decisions on future generations, in a resource-constrained world? The culmination of a half century of engagement with population ethics, Partha Dasgupta’s masterful Time and the Generations blends economics, philosophy, and ecology to offer an original lens on the difficult topic of optimum global population.

risk Natural Capital and the Quest for Sustainability

COLUMBIA UNIVERSITY PRESS / NEw YORk Printed in the U.S.A.

earth at

Earth at Risk

ment on climate goals possible? Building 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. $35.00 / £27.00 cloth 978-0-231-16252-4 2017 376 pages

June 2019 320 pages / 9 illus.

Kenneth J. Arrow Lecture Series

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New and Forthcoming

Confronting the Climate Challenge

Coping with the Climate Crisis

U.S. Policy Options

Mitigation Policies and Global Coordination

Lawrence Goulder and Marc Hafstead

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

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. $60.00 / £47.00 cloth 978-0-231-18756-5

Confronting the Climate Challenge presents a unique framework for evaluating the effects 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. $65.00 / £50.00 cloth 978-0-231-17902-7 2017 376 pages / 48 illus.

2018 232 pages / 30 illus.

Energy Kingdoms

The Economy of the Gulf States

Oil and Political Survival in the Persian Gulf

Matthew Gray

Jim Krane

In Energy Kingdoms, Jim Krane takes readers inside the Gulf monarchies to consider the conundrum facing these states. He traces the history of their energy use and policies, looking in particular at how energy subsidies have distorted demand.

Oil exports are the lifeblood of their politicaleconomic systems—and the basis of their strategic importance—but domestic consumption has begun eating into exports while climate change threatens to render the region uninhabitable.

Covering the period since 1945, with a focus on the last twenty years, Matthew Gray outlines the main factors that have shaped the political economies of Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates. His analysis includes problems of state formation and ruling–elite legitimacy, the role of oil and energy, the challenges of economic geography, the wider international political setting and its effects, and constraints to economic reform.

$32.00 / £25.00 cloth 978-0-231-17930-0

$25.00 paper 978-1-788210-01-0

2019 224 pages

$90.00 cloth 978-1-788210-00-3

Center on Global Energy Policy Series

2019 224 pages

Agenda Publishing

For more information, visit cup.columbia.edu

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New and Forthcoming

The State Strikes Back

Sustaining Economic Growth in Asia

The End of Economic Reform in China?

Edited by Jérémie CohenSetton, Thomas Helbling, and Adam Posen

Nicholas R. Lardy

In The State Strikes Back the renowned China scholar Nicholas R. Lardy argues that China’s future growth prospects could be bright but are shadowed by the specter of resurgent state dominance, which has begun to diminish the vital role of the market and private firms in China’s economy. $23.95 / £18.99 paper 978-0-88132-737-3 2019 200 pages

Peterson Institute for International Economics

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. $23.95 / £19.95 paper 978-0-88132-733-5 2018 175 pages

Peterson Institute for International Economics

Is the Chinese Economy a Miracle or a Bubble?

The Making of a Periphery

How Island Southeast Asia Became a Mass Exporter of Labor

Lawrence Juen-yee Lau

Ulbe Bosma

Juen-yee Lau discusses Chinese economic development over the past decades. Lau evaluates the relative importance of different sources of growth for the Chinese economy and scrutinizes the strategy of reform and development at various stages. Based on a comprehensive account of China’s macroeconomy, Lau addresses the question of whether Chinese economic growth is an extraordinary “miracle” or an implausible economic “bubble.”

In The Making of a Periphery, Ulbe Bosma draws on new archival sources from the colonial period to the present to demonstrate how high demographic growth and a long history of bonded labor relegated Southeast Asia to the margins of the global economy. $65.00 / £50.00 cloth 978-0-231-18852-4 June 2019 304 pages

Columbia Studies in International and Global History

$55.00 cloth 978-988-237-095-1 June 2019 480 pages

Chinese University Press

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New and Forthcoming

Dispossession, Deprivation, and Development

Poverty in a Rich Society

The Case of Hong Kong

Essays for Utsa Patnaik

Edited by Maggie Lau and David Gordon

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 cloth 978-962-996-788-8 2017 210 pages

Edited by Arindam Banerjee and C. P. Chandrasekhar

Agrarian transition, exploitative production relations, bondage in the agriculture and informal sectors, food insecurity, and poverty are among the central concerns that have marked the work of the eminent economist and author Utsa Patnaik. This festschrift attempts to engage with the theoretical frameworks, historical analyses, and developmental questions that her remarkable academic contributions have raised.

Chinese University Press

$43.00 / £34.00 cloth 978-81-937329-1-5

2018 280 pages

Tulika Books

Industrial Policy and Economic Transformation in Africa

A People's History of India 14

Economic History of India, AD 1206-1526, the Period of the Delhi Sultanate and the Vijayanagara Empire

Edited by Akbar Noman and Joseph E. Stiglitz

This book explores the vital role that active government policies can play in transforming African economies. Contributors discuss government policies that traverse all economic sectors, including finance, information technology, and agriculture. This collection features studies of current policy in many parts of the world, examining their risks and rewards and what they mean for sub-Saharan Africa. $65.00 / £50.00 cloth 978-0-231-17518-0 2015 328 pages

Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization

For more information, visit cup.columbia.edu

Irfan Habib

This volume is devoted to the economic and social history of India from the thirteenth to the fifteenth century. It describes the agrarian order, urban economy, and trading world during the Delhi Sultanate (1206–1398), the subsequent period of political divisions, and conditions in the Vijayanagara Empire, which flourished during this period in south India. $15.00 / £12.95 paper 978-81-934015-7-6 2018 132 pages

Tulika Books

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New and Forthcoming

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

The Political Economy of Brexit

Auction Design in Markets with Complex Constraints

Edited by David Bailey and Leslie Budd

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

Sovereign Wealth Funds in Resource Economies

Institutional and Fiscal Foundations Khalid Alsweilem and Malan Rietveld

This collection of essays explores the ramifications of the Brexit decision for the UK and European economies. Contributors provide an important first step in assessing the threats and challenges that a Brexit poses for the UK and wider EU economies and will be welcome reading for anyone in search of some rigor and clarity amid the hyperbole. $25.00 paper 978-1-911116-64-6 $85.00 cloth 978-1-911116-63-9 2017 192 pages

Agenda Publishing

The New Frontiers of Sovereign Investment THE NEW

FRONTIERS OF

Edited by Malan Rietveld and Perrine Toledano

SOVEREIGN INVESTMENT Edited by MALAN RIETVELD & PERRINE TOLEDANO

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.

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 / £50.00 cloth 978-0-231-18354-3

$65.00 / £50.00 cloth 978-0-231-17750-4

2017 304 pages / 14 illus.

2017 312 pages / 20 illus.

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New and Forthcoming

The Economics of Construction

The Gig Economy Alex de Ruyter and Martyn Brown

Stephen Gruneberg and Noble Francis

Stephen Gruneberg and Noble Francis present an up-to-date analysis of the construction industry’s business model and the risks and challenges the industry faces in the twenty-first century. The books covers the many distinctive features of the economics of the industry, such as how firms use cost-reduction rather than profit–maximizing behavior, the processes of tendering and procurement, and the often cyclical nature of demand. $25.00 paper 978-1-788210-15-7

The “gig economy” covers people self-employed,who work for hire; those on temporary, short-term contracts; and those on zero-hours contracts. Proponents of flexible working arrangements point to the opportunities the gig economy offers to unlock the potential of those who cannot work full-time and note that technology is changing the nature of work. Opponents fear that it is driven by the corporate need to cut costs and reduce the administrative burden and legal responsibilities that accompany a permanent workforce.

$70.00 cloth 978-1-788210-14-0

$25.00 paper 978-1-7882-1005-8

2018 240 pages

$70.00 cloth 978-1-7882-1004-1 2018 192 pages

agenda Publishing

agenda Publishing

The Resource Curse

The Money Laundering Market

S. Mansoob Murshed

Regulating the Criminal Economy Edited by Killian McCarthy

The “resource curse” or “paradox of plenty,” refers to the long-established notion central in development economics that countries rich in natural resources, particularly minerals and fuels, perform less well economically than countries with fewer natural resources. This volume explores the complexities of this idea and the debates that surround it, including the benefits and costs of export-led growth and the empirical evidence of the effects of natural– resource dependence on growth. $25.00 paper 978-1-911116-49-3 $70.00 cloth 978-1-911116-48-6 2018 192 pages

Agenda Publishing

For more information, visit cup.columbia.edu

An estimated $3.5 trillion passes through the market for money laundering annually. This represents 80% of the world’s illegal income. By ‘cleaning’ the ill-gotten gains of the criminal economy, money launderers keep crime profitable and illegal activities, including terrorist organizations, funded.

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 cloth 978-1-911116-43-1 2018 288 pages

Agenda Publishing

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New and Forthcoming

The Power of Finance

International Policy Rules and Inequality

Financialization and the Real Economy

Implications for Global Economic Governance

Malcolm Sawyer

Malcolm Sawyer explores the pervasive forms that financialization has taken, its rise as a global phenomenon, its impact on economic growth, its transformative effect on businesses, and the costs that we pay as consumers. Sawyer, a leading authority on financialization, provides an overview of the development of financialization and its role both as an enabler and as a driver of inequality. $35.00 cloth 978-1-911116-95-0

Edited by José Antonio Ocampo

In this book, contributors scrutinizes how the rules of global economic governance—or the lack thereof—determine the extent and growth of inequality. They provide an in-depth examination of the rules governing foreign-investment protection, cross-border financial flows, and intellectual property rights, as well as the lack of standards governing international taxation and the channels through which they might affect inequality.

2019 320 pages

$75.00 / £58.00 cloth 978-0-231-19084-8

Agenda Publishing

2019 304 pages

Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization

Rethinking Global Labour

Transatlantic Speculations

Ronaldo Munck

Hannah Catherine Davies

Towards a New Social Settlement

Ronaldo Munck offers a sober appraisal of how globalization has created a new global working class through the massive acceleration of capital accumulation and, concomitantly, increased the insecurity and precarious nature of most employment. Munck suggests that we are now moving beyond categories of North and South as workers of the world share the effects of global capitalism and the lessons to be learned. $30.00 paper 978-1-788211-05-5

Globalization and the Panics of 1873

The year 1873 was one of financial crisis. A boom in railway construction had spurred a bull market— but when the boom turned to bust, transatlantic panic quickly became a worldwide economic downturn. In Transatlantic Speculations, Hannah Catherine Davies offers a new lens on the panics of 1873 and nineteenth-century globalization by exploring the ways in which contemporaries experienced a tumultuous period that profoundly challenged notions of economic and moral order.

$90.00 cloth 978-1-788211-04-8

$65.00 / £50.00 cloth 978-0-231-18556-1

2018 288 pages

2018 248 pages

Agenda Pubishing

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New and Forthcoming

Rescuing Retirement

The Price of Football

A Plan to Guarantee Retirement Security for All Americans

The Finance and Economics of the Beautiful Game

Teresa Ghilarducci and Tony James

Kieran Maguire

As professional football’s popularity has grown, so has its monetary value. Kieran Maguire looks at the different ways in which professional football operates as a business—how clubs make their money or, more commonly, lose it. In particular, he analyzes how success is measured by the different and often competing stakeholders in football clubs—owners, managers, fans, players, commercial partners, and the media.

Speaking to Americans’ growing anxiety about their ability to retire, Rescuing Retirement provides answers to anyone wanting to understand the growing movement to protect a period of life once considered a deserved time of rest and creativity and offers a practical guide to the future of secure retirement. $24.95 / £20.00 cloth 978-0-231-18564-6 2018 184 pages

$25.00 paper 978-1-911116-90-5 $90.00 cloth 978-1-911116-89-9 August 2019 224 pages

Agenda Publishing

Facing Up to Low Productivity Growth

The Democratic Developmental State

North-South Perspectives

Edited by Adam Posen and Jeromin Zettelmeyer

In this volume, a dozen renowned scholars analyze the impact of sustained lower productivity growth on public finances, social protection, trade, capital flows, wages, inequality, and, ultimately, politics in the advanced industrial world. They conclude that slow productivity growth could lead to unpredictable and possibly dangerous new problems, aggravating inequality and increasing concentration of market power. Facing Up to Low Productivity Growth also proposes ways that countries can cope with these consequences. $23.95 / £18.99 paper 978-0-88132-731-1

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

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 policy makers in many emerging economies in the global South.

This volume investigates these attempts to establish a new and more inclusive conceptualization of the state. $45.00 paper 978-3-8382-1045-2 2018 302 pages

ibidem Press

2018 175 pages

Peterson Institute for International Economics

For more information, visit cup.columbia.edu

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Determinants of Health

The Demand for Health

An Economic Perspective

A Theoretical and Empirical Investigation

Michael Grossman

Michael Grossman

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 / £62.00 cloth 978-0-231-17812-9

$20.00 / £14.99 paper 978-0-231-179010-3

2017 832 pages / 22 illus.

$60.00 / £47.00 cloth 978-0-231-17900-3 2017 216 pages

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

Too Little, Too Late

Rethinking Investment Incentives

The Quest to Resolve Sovereign Debt Crises

Trends and Policy Options

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

Edited by Ana Teresa Tavares-Lehmann, Perrine Toledano, Lise Johnson, and Lisa Sachs

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 / £54.00 cloth 978-0-231-17926-3 2016 312 pages / 13 illus.

This collection illustrates the different types and uses of investment initiatives worldwide. By combining economic analysis with development effects, regulatory issues, and policy options, these essays show how to increase the mobility of capital to better attract, direct, and retain investments and how to craft policy to ensure incentives endure. $65.00/ / £50.00 cloth 978-0-231-17298-1 2016 368 pages

Initiative for Policy Dialogue at Columbia: Challenges in Development and Globalization

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Capital and the Common Good

World on the Move

Consumption Patterns in a More Equal Global Economy

How Innovative Finance Is Tackling the World's Most Urgent Problems

Paolo Mauro and Tomas Hellebrandt

Georgia Levenson Keohane

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 policy makers 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

Despite social and economic advances around the world, poverty and disease persist. While governments commit to addressing these challenges, traditional public and philanthropic dollars are not enough. Georgia Levenson shows how techniques from the world of finance can raise capital for social investments today. $29.95 / £24.00 cloth 978-0-231-17802-0 2016 264 pages

Columbia Business School Publishing

Peterson Institute for International Economics

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

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

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.

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

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

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. $26.00 / 20.00 paper 978-0-231-7347-6

$35.00 / £27.00 cloth 978-0-231-18084-9

$35.00 / £27.00 cloth 978-0-231-17346-9

2016 240 pages

2016 256 pages

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Genealogy of American Finance

The Age of Sustainable Development

Foreword by

ban Ki-moon

Robert E. Wright and Richard Sylla

Jeffrey D. Sachs

Foreword by Ban Ki-moon

THE AGE OF SUSTAINABLE DEVELOPMENT “My candidate for most important book in current circulation.”

EDwARD O. wilSOn

JEFFREY D. SACHS

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. $39.95 / £30.00 paper 978-0-231-17315-5 2015 544 pages

The Genealogy of American Finance offers readers an in-depth history of how fifty financial corporations came to dominate the U.S. banking system and their impact on the nation’s political, social, and economic growth. A story that spans more than two centuries of war, crisis, and opportunity, this account reminds readers that American banking was never a fixed enterprise but has evolved in tandem with the country. $60.00 / £47.00 cloth 978-0-231-17026-0 2015 336 pages / 300 Illus.

Columbia Business School Publishing

A New Foreign Policy

Economic Risks of Climate Change

Beyond American Exceptionalism

An American Prospectus

Trevor Houser, Solomon Hsiang, Robert Kopp, Kate Larsen, Michael Delgado, Amir Jina, Michael Mastrandrea, Shashank Mohan, Robert MuirWood, D. J. Rasmussen, James Rising, Paul Wilson

Jeffrey D. Sachs

Jeffrey D. Sachs provides the blueprint for a new foreign policy that embraces global cooperation, international law, and aspirations for worldwide prosperity—not nationalism and gauzy dreams of past glory. He argues that America’s approach to the world must shift from military might and wars of choice to a commitment to shared objectives of sustainable development.

This prospectus is based on a critically acclaimed independent assessment of the economic risks posed by climate change commissioned by the Risky Business Project. Contributors examine the distribution of escalating climate-change risk across the country and assess their effects on aspects of the economy as varied as hurricane damages and violent crime.

$17.95 / £13.99 cloth 978-0-231-18848-7

$60.00 / £47.00 cloth 978-0-231-7456-5

2018 272 pages

2015 384 pages

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ECONOMIC THOUGHT A BRIEF HISTORY

Economic Thought

Better Presentations

A Brief History Heinz D. Kurz

Translated by Jeremiah Riemer

BETTER PRESENTATIONS

A Guide for Scholars, Researchers, and Wonks Jonathan Schwabish

A Guide for Scholars, Researchers, and Wonks

Jonathan Schwabish

HEINZ D. KURZ

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 / £14.99 paper 978-0-231-17259-2 $27.00 / £21.00 cloth 978-0-231-17258-5 2017 224 pages

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 of 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 / £20.00 paper 978-0-231-17521-0

$75.00 / £58.00 cloth 978-0231-17520-3 2016 192 pages

EFFICIENCY, FINANCE, AND VARIETIES OF

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

e dite d by

Akbar Noman & Joseph E. Stiglitz

Efficiency, Finance, and Varieties of Industrial Policy

Guiding Resources, Learning, and Technology for Sustained Growth

Morals and Markets THE DEVELOPMENT OF LIFE INSURANCE IN THE UNITED STATES

Viviana A. Rotman Zelizer Foreword by Kieran Healy

Morals and Markets

The Development of Life Insurance in the United States

Viviana A. Rotman Zelizer Foreword by Kieran Healy

Edited by Akbar Noman and Joseph E. Stiglitz

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’s and India’s experiences with industrial policy in the banking and private sectors. $70.00 / £58.00 cloth 978-0-231-18050-4 2016 528 pages / 113 illus.

First published in 1979, Morals and Markets is a pathbreaking study exploring the development of life insurance in the United States. Viviana A. Rotman Zelizer combines economic history and a sociological perspective to advance a novel interpretation of the life– insurance industry. As Zelizer shows, the evolution of the industry in the United States matched evolving attitudes toward death, money, family relations, property, and personal legacy.

Initiative for Policy Dialogue at Columbia:

$30.00 / £24.00 paper 978-0-23-18335-2

Challenges in Development and Globalization

$90.00 / £70.00 cloth 978-0-23-18334-5

For more information, visit cup.columbia.edu

2017 264 pages

Legacy Editions

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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 / £14.99 cloth 978-0-231-16380-4

$19.95 / £14.99 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 / £14.99 cloth 978-0-231-15328-7

2014 680 pages / 45 Illus.

2014 168 pages

Kenneth J. Arrow Lecture Series

$34.95 / £27.00 cloth 978-0-231-15214-3

Kenneth J. Arrow Lecture Series

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Crude Volatility

cup.columbia.edu

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

$26.00 / £20.00 paper 978-0-231-17815-0 $35.00 / £27.00 cloth 978-0-231-17814-3 April 2019 336 pages

Center on Global Energy Policy Series

The Fracking Debate

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

$20.00 / £14.99 paper 978-0-231-18487-8 $30.00 / £24.00 cloth 978-0-231-18486-1 August 2019 280 pages

Center on Global Energy Policy Series

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

$28.00 / £22.00 paper 978-0-231-18073-3 $60.00 / £47.00 cloth 978-0-231-18072-6 June 2019 304 pages / 35 illus.

Building the New American Economy Smart, Fair, and Sustainable Jeffrey D. Sachs

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