What do anarchists want? It seems easier to classify them by what they don't want, namely, the organizations of the State, and to identify them with rioting and protest rather than with any coherent ideology. But with demonstrations like those against the World Bank and the International Monetary Fund being blamed on anarchists, it is clear that an explanation of what they do stand for is long overdue.
This text poses a challenge to traditional economic theory, arguing that people do not act in expectation of monetary gain alone, nor do they work solely to get paid. It aims to show that higher monetary compensation crowds-out motivation, and offering higher pay makes people less committed to their work, and may reduce their performance. The first part of the book examines the crowding-out effect and the motivational spill-over effect. A large number of applications to constitutional questions, various policy issues and the organization of firms is explored in the second part. In the last part is a discussion of the substantial consequences for policy making and economic theory.
What are the goals of monetary policy and how are they transmitted? Top scholars summarize recent evidence on the roles of money in the economy, the effects of information, and the growing importance of nonbank financial institutions.
This text presents a comprehensive treatment of the most important topics in monetary economics, focusing on the primary models monetary economists have employed to address topics in theory and policy. It covers the basic theoretical approaches, shows how to do simulation work with the models, and discusses the full range of frictions that economists have studied to understand the impacts of monetary policy. Among the topics presented are money-in-the-utility function, cash-in-advance, and search models of money informational, portfolio, and nominal rigidities credit frictions the open economy and issues of monetary policy
A Monetary History of the United States 1867 - 1960
Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: "The long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues."
