Malcolm Baker of Harvard University reviews “The Battle for the Soul of Capitalism” by John C. Bogle,. The EconLit Abstract of the reviewed work begins “Explores how to restore integrity to corporate and investment America and how to protect small investors' interests, offering a host of practical reforms. Discusses what went wrong, why it went wrong, and how to return an aspect of American capitalism to its owners, focusing on corporate America, investment America, and mutual fund America. Bogle is founder and former CEO of Vanguard Mutual Funds. Index.”
Alix Peterson Zwane of Google.org reviews “Global Trade and Poor Nations: The Poverty Impacts and Policy Implications of Liberalization” by Bernard Hoekman, Marcelo Olarreaga,. The EconLit Abstract of the reviewed work begins “Ten papers consider the linkages between trade and poverty and the need for complementary measures to assist the poorest countries to benefit from global trade opportunities. Papers discuss the challenges to reducing poverty through trade reform--an overview (Bernard Hoekman and Marcelo Olarreaga); estimating the effects of global trade reform (Hiau Looi Kee, Alessandro Nicita, and Olarreaga); country studies of Ethiopia (Nicita); Madagascar (Nicita); Zambia (Jorge F. Balat, Irene Brambilla, and Guido G. Porto); Cambodia (Isidro Soloaga); Vietnam (Aylin Isik-Dikmelik); Bolivia (Gabriel Lara and Soloaga); and Nicaragua (Ania I. Gomez and Soloaga); and development and trade agreements--beyond market access (Hoekman). Hoekman is Research Manager of the International Trade team in the World Bank Development Research Group and Research Fellow at the Centre for Economic Policy Research. Olarreaga is Senior Economist in the World Bank's Development Research Group and Research Affiliate at the Centre for Economic Policy Research. Index.”
Mordechai E. Kreinin of Michigan State University reviews “The Evolving Global Trade Architecture” by Dilip K. Das,. The EconLit Abstract of the reviewed work begins “Examines the evolution of the multilateral trade regime in the ever-changing global economic environment, particularly during the World Trade Organization era and the ongoing Doha Round. Discusses development, developing economies, and the multilateral trade regime; necessity for a development round; special treatment and policy space for the developing economies in the multilateral trade regime; the Fifth Ministerial Conference--the wheels come off at Cancun; the entrance of the developing economies--transforming the landscape of the multilateral trade regime; the Sixth Ministerial Conference--the lean Hong Kong harvest; and the Doha Round--a disenchanting evolutionary process. Das is a scholar, writer, and consultant to supranational organizations. Bibliography; index.”
Ronald B. Davies of University College Dublin reviews “Multinational Corporations and Foreign Direct Investment: Avoiding Simplicity, Embracing Complexity” by Stephen D. Cohen,. The EconLit Abstract of the reviewed work begins “Examines the debate surrounding the nature and effects of foreign direct investment (FDI) and multinational corporations (MNCs), and analyzes these phenomena in order to resolve the long-standing stalemate. Discusses a better approach to understanding FDI and MNCs; defining the subject--subtleties and ambiguities; from obscurity to international economic powerhouse--the evolution of MNCs; heterogeneity--the many kinds of FDI and MNCs and their disparate effects; perceptions and economic ideologies; why companies invest overseas; where MNCs invest and don't invest, and why; effects of FDI on less developed countries--vagaries, variables, negatives, and positives; why and how MNCs have altered international trade; MNCs versus the nation-state--whether sovereignty has been outsourced; the international regulation of MNCs--why there is no multilateral FDI regime; the case for FDI and MNCs; the case against FDI and MNCs; an agnostic conclusion--“it depends”; and an agenda for future action. Cohen is Professor in the School of International Service at American University. Index.”
Thomas Prusa of Rutgers University reviews “Globalization and Its Enemies” by Daniel Cohen,. The EconLit Abstract of the reviewed work begins “Explores globalization throughout history to determine how it has worked during three instances in the past, why the enemies of globalization oppose it, and why globalization does not always work for the poorest countries in the world. Discusses the birth of the north-south axis; moving from one globalization to another; the new world economy; the clash of civilizations; indigenous growth; the idea of the empire and globalization; and AIDS and debt. Cohen is Professor of Economics at the Ecole Normale Superieure and the University of Paris I. Index.”
David Colander of Middlebury College reviews “Do Economists Make Markets? On the Performativity of Economics” by Donald MacKenzie, Fabian Muniesa, Lucia Siu,. The EconLit Abstract of the reviewed work begins “Ten papers, most originally presented at a workshop held at the Ecole Nationale Superieure des Mines de Paris in August 2004, explore the potential of the notion of performativity in economics. Papers discuss the social construction of a perfect market--the strawberry auction at Fontaines-et-Sologne (Marie-France Garcia-Parpet); whether economics is performative--option theory and the construction of derivatives markets (Donald MacKenzie); decoding finance--articulation and liquidity around a trading room (Vincent-Antonin Lepinay); how to do things with experimental economics (Francesco Guala); economic experiments and the construction of markets (Fabian Muniesa and Michel Callon); markets made flesh--performativity, and a problem in science studies, augmented with consideration of the Federal Communications Commission auctions (Philip Mirowski and Edward Nik-Khah); which way is up on Callon (Petter Holm); the properties of markets (Timothy Mitchell); whether statistics “perform” the economy (Emmanuel Didier); and what it means to say that economics is performative (Callon). MacKenzie is Professor of Sociology, and Siu is a doctoral student in sociology, at the University of Edinburgh. Muniesa is Researcher and Teacher at the Ecole des Mines de Paris. Index.”
Gale A. Boyd of Duke University reviews “Emergence and Survival of New Businesses: Econometric Analyses” by Oliver Falck,. The EconLit Abstract of the reviewed work begins “Examines the determinants of new business formation and their survival, and considers whether business startups, especially in the service sector, will create employment and thereby generate growth. Discusses the effects of new business formation on industry growth; new businesses and regional development; new business formation by industry over space and time; new business survival by industry over space and time; and a microeconometric survival analysis of new businesses. Falck is with the Ifo Institute for Economic Research. Index.”
Ernie Goss of Creighton University reviews “The Economics of Casino Gambling” by Douglas M. Walker,. The EconLit Abstract of the reviewed work begins “Explores the economic effects of casino gambling, particularly the economic growth and the social costs that may accompany legalized casino gambling. Papers discuss casino gambling and economic growth; misconceptions about casinos and growth; evidence on the growth effects of gambling; relationships among U.S. gambling industries; the social costs of gambling; miscellaneous social cost issues; problems in gambling research; and using research to inform policy. Walker is in the Department of Economics at Georgia College. Index.”
Terry Calvani of Freshfields Bruckhaus Deringer LLP reviews “European Antitrust Law: Prohibitions, Merger Control and Procedures” by Lorenzo Federico Pace,. The EconLit Abstract of the reviewed work begins “Examines current European Community antitrust and merger control rules in their historical context, considering both the economic foundations and guiding principles of the law. Discusses cartels and the process of European integration; European antitrust powers; Article 81 EC; Article 82 EC; Articles 81 and 82 EC applied to the member states; vertical aspects of European antitrust law; the bodies and institutions of the European antitrust enforcement system; the antitrust enforcement system established by the European Community Treaty; the antitrust enforcement system established by Regulation 1/03; European merger control; and the merger control system established by Regulation 139/04. Pace is Associate Professor of European Union Law at the University of Camerino. Bibliography; index.”
Miguel N. Foguel of Instituto de Pesquisa Economica Aplicada reviews “Minimum Wages and Social Policy: Lessons from Developing Countries” by Wendy V. Cunningham,. The EconLit Abstract of the reviewed work begins “Systematically explores the minimum wage as a policy tool for decreasing poverty and redressing social inequities in the developing country context. Discusses context and framework; minimum wage institutions in Latin America and the Caribbean--what are they and who earns them; the worker--how minimum wages affect other wages and employment; the households--the minimum wage as an antipoverty tool; the state--the minimum wage implications for public expenditures; and the international community--lessons from their experiences. Index.”