Murray C. Kemp is one of Australia's foremost economists. He has held positions across the world including London School of Economics, U.C. Berkeley, Columbia University, McGill University, MIT, and latterly Macquarie University. Kemp was a Member of Council for the Econometric Society and was a Distinguished Fellow of the Economics Society of Australia. He has served as President of the International Economics and Finance Society. In 1987 he was awarded the Humboldt Foundation Prize.
This book brings together several essays on the current state of the theory of international trade. As the book's title suggests, the essays are critical of several major components of the existing theory; thus, the Ricardian principle of comparative advantage, the ancient and widely accepted belief that international free trade is potentially beneficial for all countries, and the more recently developed normative analysis of international transfers (foreign aid, war indemnities) are shown to be seriously defective.
E. H. Carr is widely remembered as an influential theorist of international relations. The scourge of inter-war idealists, he became the best-known Briton in a generation of predominantly American political realists. But Carr's realism differed greatly from that of his contemporaries: a vigorous advocate of social and economic planning and friend of the Soviet Union, he stood closer to Lenin than to Morgenthau. In this book Charles Jones makes sense of Carr's distinctive form of realism by examining his rhetoric and the reciprocal relationship between theory and policy-making in his writings. Close attention is paid to the period from 1936, when Carr left the Foreign Office, through his subsequent career as a one-man foreign ministry at Aberystwyth, the Ministry of Information, and above all The Times, culminating in the final frustration of his schemes for continued British world power in 1947.
Paul J.J. Welfens and Holger C. Wolf While the economies of Asia and, more recently, South as well as North America have enjoyed sustained high growth, the growth performance of western Europe and in particular continental Europe has been rather modest. Coupled with sizable improvements in labor productivity and - at best - steady capital productivity, growth proved insufficient to sustain employment levels, much less to replicate the US job creation success. Relative inflation performance has been much better: in the run-up to European Monetary Union inflation rates have dramatically converged towards the lower end of the distribution while risk premia on formerly high inflation economies have fallen. Yet, looking forward, the undoubted success in achieving price stability is mitigated by the lackluster growth -and in particular employment -performance. Indeed, the relative little attention paid to initiatives directed at raising economic growth is startling, not only in the light of the US policy record but also in light of the remarkable rebound of those European economies which have aggressively tackled the structural problems, most prominently the UK and Ireland.