Download or read book How Individual Rationality Can Cause Political Constraint that Inhibit Financial Support written by Tobias Rentschler and published by . This book was released on 2020-11-18 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2013 in the subject Politics - International Politics - Topic: Miscellaneous, grade: 1,7, University of Freiburg, course: Rational Choice and Neo-Institutionalism, language: English, abstract: The aim of this paper is to analyse the reaction of Germany to the sovereign debt crisis and its policy stance using Rational Choice as an explanatory device. It is suggested, that a very rational approach is employed both by the government and the public. However, with the incisive need to support Greece to prevent an outspread of the crisis, the German government lost public support albeit acting rational in its national interest. This paper claims, that missing and wrong communication by the government caused a discrepancy that alienated the public from the national interpretation of the issue. The paper concludes with a recommendation on how the German government should deal with the Euro crisis domestically to tackle the pressing issue effectively. Building upon Axelrod's theory on interstate cooperation, there will be little difficulty to explain Germany's approach to solve the crisis. When it became obvious, however, that Greece would need support or otherwise the crisis could likely spread across Europe, the German government found it hard to raise support for this unpopular policy. Looking into theory, Putnam may offer a good insight why German politics hold a stern position when it comes to financial support, which can be said to follow rational choice. This is true, even after it was more then apparent on a national level that support was necessary and indeed beneficial to German interest. Trying to connect Axelrod's ideas with those of Putnam, it is likely that public opinion within Germany deprives the government of much needed leeway. It is highly suggested that German domestic constraints on state sponsored aid for Greece heavily influence German politics, inhibiting decisive rational choices on the national level. Looking closer

Download or read book How Individual Rationality can cause Political Constraint that inhibit Financial Support written by Tobias Rentschler and published by GRIN Verlag. This book was released on 2020-12-07 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2013 in the subject Politics - Other International Politics Topics, grade: 1,7, University of Freiburg, course: Rational Choice and Neo-Institutionalism, language: English, abstract: The aim of this paper is to analyse the reaction of Germany to the sovereign debt crisis and its policy stance using Rational Choice as an explanatory device. It is suggested, that a very rational approach is employed both by the government and the public. However, with the incisive need to support Greece to prevent an outspread of the crisis, the German government lost public support albeit acting rational in its national interest. This paper claims, that missing and wrong communication by the government caused a discrepancy that alienated the public from the national interpretation of the issue. The paper concludes with a recommendation on how the German government should deal with the Euro crisis domestically to tackle the pressing issue effectively. Building upon Axelrod’s theory on interstate cooperation, there will be little difficulty to explain Germany’s approach to solve the crisis. When it became obvious, however, that Greece would need support or otherwise the crisis could likely spread across Europe, the German government found it hard to raise support for this unpopular policy. Looking into theory, Putnam may offer a good insight why German politics hold a stern position when it comes to financial support, which can be said to follow rational choice. This is true, even after it was more then apparent on a national level that support was necessary and indeed beneficial to German interest. Trying to connect Axelrod’s ideas with those of Putnam, it is likely that public opinion within Germany deprives the government of much needed leeway. It is highly suggested that German domestic constraints on state sponsored aid for Greece heavily influence German politics, inhibiting decisive rational choices on the national level. Looking closer on the second level, it appears that the German public also derives its stance from a mostly rational interpretation of the sovereign debt crisis, giving not much heed to the European cause or symbolic traditions, but now inhibits rational decisions on the national level. As the public is susceptible to a rational approach to the issue, this discrepancy results from a communication problem.

Download or read book Complex Economics written by Alan Kirman and published by Routledge. This book was released on 2010-09-13 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economic crisis is also a crisis for economic theory. Most analyses of the evolution of the crisis invoke three themes, contagion, networks and trust, yet none of these play a major role in standard macroeconomic models. What is needed is a theory in which these aspects are central. The direct interaction between individuals, firms and banks does not simply produce imperfections in the functioning of the economy but is the very basis of the functioning of a modern economy. This book suggests a way of analysing the economy which takes this point of view. The economy should be considered as a complex adaptive system in which the agents constantly react to, influence and are influenced by, the other individuals in the economy. In such systems which are familiar from statistical physics and biology for example, the behaviour of the aggregate cannot be deduced from the behaviour of the average, or "representative" individual. Just as the organised activity of an ants’ nest cannot be understood from the behaviour of a "representative ant" so macroeconomic phenomena should not be assimilated to those associated with the "representative agent". This book provides examples where this can clearly be seen. The examples range from Schelling’s model of segregation, to contributions to public goods, the evolution of buyer seller relations in fish markets, to financial models based on the foraging behaviour of ants. The message of the book is that coordination rather than efficiency is the central problem in economics. How do the myriads of individual choices and decisions come to be coordinated? How does the economy or a market, "self organise" and how does this sometimes result in major upheavals, or to use the phrase from physics, "phase transitions"? The sort of system described in this book is not in equilibrium in the standard sense, it is constantly changing and moving from state to state and its very structure is always being modified. The economy is not a ship sailing on a well-defined trajectory which occasionally gets knocked off course. It is more like the slime described in the book "emergence", constantly reorganising itself so as to slide collectively in directions which are neither understood nor necessarily desired by its components.

Download or read book Words Objects and Events in Economics written by Peter Róna and published by Springer Nature. This book was released on 2020-09-03 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.

Download or read book Financial Crises Explanations Types and Implications written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2013-01-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.

Download or read book Microeconomics in Context written by Neva Goodwin and published by Routledge. This book was released on 2015-12-07 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microeconomics in Context lays out the principles of microeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Macroeconomics in Context, the book is uniquely attuned to economic realities. The "in Context" books offer affordability, accessible presentation, and engaging coverage of current policy issues from economic inequality and global climate change to taxes. Key features include: --Clear explanation of basic concepts and analytical tools, with advanced models presented in optional chapter appendices; --Presentation of policy issues in historical, institutional, social, political, and ethical context--an approach that fosters critical evaluation of the standard microeconomic models, such as welfare analysis, labor markets, and market competition; --A powerful graphical presentation of various measures of well-being in the United States, from income inequality and educational attainment to home prices; --Broad definition of well-being using both traditional economic metrics and factors such as environmental quality, health, equity, and political inclusion; --New chapters on the economics of the environment, taxes and tax policy, common property and public goods, and welfare analysis; --Expanded coverage of high-interest topics such as behavioral economics, labor markets, and healthcare; --Full complement of instructor and student support materials online, including test banks and grading through Canvas.

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Rationality in Politics and its Limits written by Terry Nardin and published by Routledge. This book was released on 2017-10-02 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: The word ‘rationality’ and its cognates, like ‘reason’, have multiple contexts and connotations. Rational calculation can be contrasted with rational interpretation. There is the rationality of proof and of persuasion, of tradition and of the criticism of tradition. Rationalism (and rationalists) can be reasonable or unreasonable. Reason is sometimes distinguished from revelation, superstition, convention, prejudice, emotion, and chance, but all of these also involve reasoning. In politics, three views of rationality – economic, moral, and historical – have been especially important, often defining approaches to politics and political theory such as utilitarianism and rational choice theory. These approaches privilege positive or natural law, responsibilities, or human rights, and emphasize the importance of culture and tradition, and therefore meaning and context. This book explores the understanding of rationality in politics and the relations between different approaches to rationality. Among the topics considered are the limits of rationality, the role of imagination and emotion in politics, the meaning of political realism, the nature of political judgment, and the relationship between theory and practice. This book was originally published as a special issue of Global Discourse.

Download or read book Financial Crises written by Mr.Stijn Claessens and published by International Monetary Fund. This book was released on 2014-02-19 with total page 754 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lingering effects of the economic crisis are still visible—this shows a clear need to improve our understanding of financial crises. This book surveys a wide range of crises, including banking, balance of payments, and sovereign debt crises. It begins with an overview of the various types of crises and introduces a comprehensive database of crises. Broad lessons on crisis prevention and management, as well as the short-term economic effects of crises, recessions, and recoveries, are discussed.

Download or read book The Politics Industry written by Katherine M. Gehl and published by Harvard Business Press. This book was released on 2020-06-23 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading political innovation activist Katherine Gehl and world-renowned business strategist Michael Porter bring fresh perspective, deep scholarship, and a real and actionable solution, Final Five Voting, to the grand challenge of our broken political and democratic system. Final Five Voting has already been adopted in Alaska and is being advanced in states across the country. The truth is, the American political system is working exactly how it is designed to work, and it isn't designed or optimized today to work for us—for ordinary citizens. Most people believe that our political system is a public institution with high-minded principles and impartial rules derived from the Constitution. In reality, it has become a private industry dominated by a textbook duopoly—the Democrats and the Republicans—and plagued and perverted by unhealthy competition between the players. Tragically, it has therefore become incapable of delivering solutions to America's key economic and social challenges. In fact, there's virtually no connection between our political leaders solving problems and getting reelected. In The Politics Industry, business leader and path-breaking political innovator Katherine Gehl and world-renowned business strategist Michael Porter take a radical new approach. They ingeniously apply the tools of business analysis—and Porter's distinctive Five Forces framework—to show how the political system functions just as every other competitive industry does, and how the duopoly has led to the devastating outcomes we see today. Using this competition lens, Gehl and Porter identify the most powerful lever for change—a strategy comprised of a clear set of choices in two key areas: how our elections work and how we make our laws. Their bracing assessment and practical recommendations cut through the endless debate about various proposed fixes, such as term limits and campaign finance reform. The result: true political innovation. The Politics Industry is an original and completely nonpartisan guide that will open your eyes to the true dynamics and profound challenges of the American political system and provide real solutions for reshaping the system for the benefit of all. THE INSTITUTE FOR POLITICAL INNOVATION The authors will donate all royalties from the sale of this book to the Institute for Political Innovation.

Download or read book Analyzing Oppression written by Ann E. Cudd and published by Oxford University Press. This book was released on 2006 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text presents an integrated theory of social oppression, which tackles the fundamental question: if there is no natural hierarchy among humans, why are some cases of oppression so persistent? It argues that the explanation lies in the coercive co-opting of the oppressed to join in their own oppression.

Download or read book An Inquiry Into the Nature and Causes of the Wealth of Nations written by Adam Smith and published by . This book was released on 1822 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Policy and Choice written by William J. Congdon and published by Brookings Institution Press. This book was released on 2011 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that public finance--the study of the government's role in economics--should incorporate principles from behavior economics and other branches of psychology.

Download or read book Modeling Politics with Economic Tools written by Mr.Jan-Peter Olters and published by International Monetary Fund. This book was released on 2001-01-01 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whereas the economics discipline possesses a highly refined theoretical apparatus to analyze the effects of government behaviour on the economy, it has not (yet) managed to fully develop a positively formulated "economic theory of politics" that would permit the integration of the decision-making processes of voters, parties and governments with those of consumers and firms. Considerable recent advances notwithstanding, the large and heterogeneous body of literature has (so far) remained outside the economic mainstrain. The paper surveys the main approaches used to endogenize democratic elements and assesses the underlying reasons for researchers' renewed interest in this field.

Download or read book American Public Policy written by B. Guy Peters and published by CQ Press. This book was released on 2018-08-02 with total page 523 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is an in-depth yet quite accessible overlook of public policy in the United States...With this updated version, Peters’ text keeps up with the ever-changing world of American public policy while still giving students the tools to better understand this process." —Michael E. Bednarczuk, University of Wisconsin-Milwaukee This updated edition of American Public Policy provides a comprehensive yet accessible overview of the policy-making process from procedural approaches and policy instruments to in-depth analysis of specific policy issues. The Eleventh Edition considers how policy has been impacted by recent economic and political developments. Not shying away from the complexity of governmental procedure, Peters ensures that the mechanisms of the policy process are understandable through insightful discussions of topical policy areas. Give your students the SAGE edge! SAGE edge offers a robust online environment featuring an impressive array of free tools and resources for review, study, and further exploration, keeping both instructors and students on the cutting edge of teaching and learning. Learn more at edge.sagepub.com/peters11e. Bundle American Public Policy, 11e with any of the following texts for only $5 more! Issues for Debate in American Public Policy, 19e: Use bundle ISBN 978-1-5443-4592-5 The CQ Press Writing Guide for Public Policy: Use bundle ISBN 978-1-5443-4141-5

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Download or read book The Behavioral and Social Sciences written by National Research Council and published by National Academies Press. This book was released on 1988-02-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume explores the scientific frontiers and leading edges of research across the fields of anthropology, economics, political science, psychology, sociology, history, business, education, geography, law, and psychiatry, as well as the newer, more specialized areas of artificial intelligence, child development, cognitive science, communications, demography, linguistics, and management and decision science. It includes recommendations concerning new resources, facilities, and programs that may be needed over the next several years to ensure rapid progress and provide a high level of returns to basic research.