The extreme protectionism that contributed to a collapse of world trade in the 1930s is examined in light of the recent economic crisis. The recent economic crisis--with the plunge in the stock market, numerous bank failures and widespread financial distress, declining output and rising unemployment--has been reminiscent of the Great Depression. The Depression of the 1930s was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade. Although policymakers today claim that they will resist the protectionist temptation, recessions are breeding grounds for economic nationalism, and countries may yet consider imposing higher trade barriers. In Trade Policy Disaster, Douglas Irwin examines what we know about trade policy during the traumatic decade of the 1930s and considers what we can learn from the policy missteps of the time. Irwin argues that the extreme protectionism of the 1930s emerged as a consequence of policymakers' reluctance to abandon the gold standard and allow their currencies to depreciate. By ruling out exchange rate changes as an adjustment mechanism, policymakers turned instead to higher tariffs and other means of restricting imports. He offers a clear and concise exposition of such topics as the effect of higher trade barriers on the implosion of world trade; the impact of the Smoot-Hawley tariff of 1930; the reasons some countries adopted draconian trade restrictions (including exchange controls and import quotas) but others did not; the effect of preferential trade arrangements and bilateral clearing agreements on the multilateral system of world trade; and lessons for avoiding future trade wars.
A new approach for introducing unemployment into the New Keynesian framework. The past fifteen years have witnessed the rise of the New Keynesian model as a framework of reference for the analysis of fluctuations and stabilization policies. That framework, which combines the rigor and internal consistency of dynamic general equilibrium models with such typically Keynesian assumptions as monopolistic competition and nominal rigidities, makes possible a meaningful, welfare-based analysis of the effects of monetary policy rules. But the conspicuous absence of unemployment from the standard New Keynesian model has given rise to both criticism and attempts to rectify this anomaly. In this book, Jordi Galí, one of the major contributors to the New Keynesian literature, offers a new approach to introducing unemployment into that framework. Galí's approach involves a reinterpretation of the labor market in the standard New Keynesian model with staggered wage setting (rather than a modification or extension of the model, as has been proposed by others). The resulting framework preserves the convenience of the representative household paradigm and allows one to determine the equilibrium levels of employment, the labor force, and hence the unemployment rate conditional on the monetary policy in place. Galí develops the basic model, embedding it in a standard New Keynesian framework with staggered price and wage setting; revisits the relationship between economic fluctuations and efficiency through the lens of the new model, developing a measure of the output gap; and analyzes the relation between unemployment and the design of monetary policy.
The new edition of a classic text that concentrates on developing general methods for studying the behavior of classical systems, with extensive use of computation. We now know that there is much more to classical mechanics than previously suspected. Derivations of the equations of motion, the focus of traditional presentations of mechanics, are just the beginning. This innovative textbook, now in its second edition, concentrates on developing general methods for studying the behavior of classical systems, whether or not they have a symbolic solution. It focuses on the phenomenon of motion and makes extensive use of computer simulation in its explorations of the topic. It weaves recent discoveries in nonlinear dynamics throughout the text, rather than presenting them as an afterthought. Explorations of phenomena such as the transition to chaos, nonlinear resonances, and resonance overlap to help the student develop appropriate analytic tools for understanding. The book uses computation to constrain notation, to capture and formalize methods, and for simulation and symbolic analysis. The requirement that the computer be able to interpret any expression provides the student with strict and immediate feedback about whether an expression is correctly formulated. This second edition has been updated throughout, with revisions that reflect insights gained by the authors from using the text every year at MIT. In addition, because of substantial software improvements, this edition provides algebraic proofs of more generality than those in the previous edition; this improvement permeates the new edition.
Interdisciplinary perspectives on the science, politics, and ethics of the 2013-2015 Ebola virus disease outbreak. The 2013-2015 outbreak of the Ebola virus disease (EVD) was a public health disaster: 28,575 infections and 11,313 deaths (as of October 2015), devastating the countries of Guinea, Liberia, and Sierra Leone; a slow and mismanaged international response; and sensationalistic media coverage, seized upon by politicians to justify wrongheaded policy. And yet there were also promising developments that may improve future responses to infectious disease epidemics: the UN Security Council's first involvement in a public health event; a series of promising clinical treatments and vaccines for EVD; and recognition of the need for a global public health system to deal with epidemics that cross national borders. This volume offers a range of perspectives on these and other lessons learned, with essays on the science, politics, and ethics of the Ebola outbreak. The contributors discuss topics including the virology and management of EVD in both rich and poor nations; the spread of the disease (with an essay by a leader of Médecins Sans Frontières); racist perceptions of West Africa; mainstream and social media responses to Ebola; and the ethical issue of whether to run clinical trials of experimental treatments during an outbreak. ContributorsChristian L. Althaus, Daniel G. Bausch, Adia Benton, Michael J. Connor, Jr., Kim Yi Dionne, Nicholas G. Evans, Morenike Oluwatoyin Folayan, Stephen Goldstein, Bridget Haire, Patricia C. Henwood, Kelly Hills, Cyril Ibe, Marjorie Kruvand, Lisa M. Lee, Maimuna S. Majumder, Alexandra L. Phelan, Annette Rid, Cristine Russell, Lara Schwarz, Laura Seay, Michael Selgelid, Tara C. Smith, Armand Sprecher
"Accessible overview of gain of function, virological research that seeks to alter features of a pathogen, and what it might mean for the future of biological research"--
All about bilingualism, in science and in life: the benefits and controversies, the individual experience, and the social significance.Nearly half the world's people are bilingual, but many have no clear understanding of what—aside from being fluent in more than one language—bilingualism means. This lively introduction by linguist Penelope Gardner-Chloros covers everything a bilingual (or curious monolingual) individual might want to know. The book discusses how bilingualism affects brain development and performance in the young and old, its social and political significance throughout time and around the globe, and how people experience and describe it. Gardner-Chloros looks at how both children and adults, become bilingual, how this affects learning, and what it means to be a bilingual family or family member. Drawing on the latest research, she offers a comprehensive but accessible account of the cognitive effects of bilingualism, and how the bilingual brain differs from the monolingual one. With the help of real examples, she outlines the impact of bilingualism on everyday speech and writing, from formal literature to social media, and lets speakers of various languages and backgrounds describe, in their own words, their experience of bilingualism and its impact on their lives. Informative, engaging, and wide-ranging, Bilingualism is the indispensable resource on a common but little understood phenomenon of far-reaching personal, social, political, and historical significance.
"A century defined by climate change, shifting global alliances, and remote work requires a reinvention of industry in America"--
A fascinating and beautifully illustrated account of trying to conceive in both the past and the present.Inspired by the author’s own experiences, Conceiving Histories brings together history, personal memoir, and illustration to investigate the culturally hidden experience of trying to conceive. In elegant, engaging prose, Isabel Davis explores the combination of myth, fantasy, science, and pseudo-science that the (un)reproductive body encounters in pursuit of a viable pregnancy. The book chronicles the trying-to-conceive lifecycle arc from sex education at school, through the desire to be a parent, into the specifics of trying and struggling to conceive. It also looks back at conception throughout history to open a new vista on what we live with today.A central argument of Davis’s is that historical people lived with the unknown just like we do but were more explicitly able to acknowledge it. In an age of assistive reproductive technologies, the act of embracing uncertainty seems difficult. Although the topic of not conceiving is potentially painful, this is not a grim book; more than grief, it is motivated by curiosity, wonder, compassion, and even humor. With 108 full-color illustrations, Conceiving Histories is also a beautiful material object, an intentionally playful antidote and supplement to online search engines—the resort of so many embroiled in fertility challenges.
"A first-ever publication of Frederick Kiesler's manifesto from 1945, transcribed and annotated, accompanied with original illustrations and introduced with an essay by Spyros Papapetros"--
A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies--analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy--and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
How digital social reading apps are powerfully changing—and nurturing—the way we read.Conventional wisdom would have us believe that digital technology is a threat to reading, but in Digital Social Reading, Federico Pianzola argues that reading socially through digital media can help people grow a passion for reading and, in some cases, even enhance text comprehension. Digital social reading (DSR) is a term that encompasses a wide variety of practices related to the activity of reading and using digital technologies and platforms (websites, social media, mobile apps) to share thoughts and impressions about books with others. This book is the first systematization of DSR practices, drawing on case studies from Wattpad, AO3, and Goodreads on a worldwide scale.Using a combination of qualitative and computational methods, Pianzola offers fresh insight into the reading experience on the scale of big data. He discusses the impact of digital technology on reading skills and shows that a change of methodological perspective is necessary to understand the positive potential of DSR for promoting reading more broadly. He argues that it is not just the medium that changes, but also the context and the attitudes of readers. He also believes that grassroots media and open, bottom-up communities are crucial to the success of many reading practices today, especially with young audiences.
"Pearce explores a new theory of play, to help us get at the question: How do we know we are playing? The book is broken into three parts: the first explores a variety of concepts derived from social theory, the second shows how we can apply these frames in practice, and the third part then focuses on a series of specific case studies and examples"--
"A new paradigm of research, policy, and practice that acknowledges the multiple scales at which we live every day-addresses, streets, and neighborhoods"--
"This book presents real-life opportunities that can be unleashed with AI working alongside a human partner"--
"The book discusses an empirically-based approach to constructing macroeconomic models"--
"A critical history of how Taiwan rose to global prominence in high-tech manufacturing"--
The first anthology of texts on the luminary contemporary artist David Hammons.David Hammons is a collection of essays on the one of the most important living Black artists of our time, David Hammons (b. 1943). Documenting five decades of visual practice from 1982 to the present, the book features contributions from scholars, artists, and cultural workers, and includes numerous images of the artist and his work that are not widely available. Contributions include essays from cultural critics including Guy Trebay and Greg Tate; artists Coco Fusco and Glenn Ligon; and scholars such as Robert Farris Thompson, Alex Alberro, and Manthia Diawara.A star of the West Coast Black Arts Movement in the 1960s and the winner of a Prix de Rome prize as well as a MacArthur Fellowship, David Hammons rose to fame in Los Angeles with his body prints, in which he used his entire body as a printing plate. His later work engaged with materials that he found in urban environments—from greasy brown paper bags, discarded hair from barber shops, and empty bottles of cheap wine—which he turned into things of wonder while also commenting on a country’s neglect of its citizens. In this volume, a new generation of scholars, Tobias Wofford, Abbe Schriber, and Sampada Aranke, broaden the theoretical mapping of Hammons’s career and its impact, challenging viewers to imagine, in the words of Aranke, “how to see like Hammons.”
"A collection of often iconoclastic essays on a number of key Renaissance artists"--
"Covers all fixed income instruments, the basis of their analysis, the portfolio strategies with them, and portfolio management"--
"The aim of this book is to provide the simplest formulations that can be derived "from first principles" with simple arguments"--
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