In 2015, the world was rocked by the revelation that Volkswagen, the world's largest automaker, had been systematically cheating on emissions tests for its diesel vehicles. The scandal involved over 11 million vehicles worldwide, and led to fines, recalls, and a major blow to Volkswagen's reputation. But how did this happen? At the heart of the matter was a failure of corporate governance. Volkswagen's management structure, which gave its CEO enormous power and limited oversight by the board of directors, created an environment where unethical behavior could thrive. Specifically, Volkswagen had developed a software "defeat device" that would reduce emissions during testing, but then switch off during regular driving, allowing the vehicles to emit harmful pollutants at levels far above legal limits. This was not only illegal, but also a breach of ethical standards that should have been caught by the company's internal controls. Unfortunately, those internal controls were weak, in part because of the way Volkswagen was organized. The company was controlled by a group of families and other stakeholders, who had more power than the shareholders, and who were reluctant to challenge management decisions. This created a culture of deference to the CEO, who in turn was focused on profits and market share above all else. Academic research has shown that the Volkswagen scandal is not unique, and that weak corporate governance can lead to a range of negative outcomes, from financial fraud to environmental damage. For example, studies by leading scholars such as Lucian Bebchuk and Jesse Fried have shown that companies with dual-class share structures, like Volkswagen, are more likely to engage in unethical behavior and less likely to respond to shareholder pressure. But there are also solutions. Research by Nell Minow and others has shown that independent directors, strong shareholder rights, and a commitment to ethical values can help prevent governance failures and improve corporate performance. By exploring these and other topics related to corporate governance, students can gain a deeper understanding of how companies operate, and how they can contribute to a more ethical and sustainable business world.

Andrew Ross Sorkin's "Too Big to Fail" is a gripping account of the financial crisis that shook the world economy to its core. With unprecedented access to the key players involved, Sorkin takes us behind the scenes of secret meetings in South Korea, the corridors of Washington, and the corner office at Lehman Brothers. The book is a real-life thriller, revealing never-disclosed details and the decisions made on Wall Street that sowed the seeds of the debacle. This is a must-read for anyone interested in the world of finance, politics, and the fate of the global economy. Recommended for finance enthusiasts, political science students, and anyone interested in understanding the causes and consequences of the 2008 financial crisis. This book provides a moment-by-moment account of how the crisis developed into a global tsunami, with unprecedented access to the key players involved. It sheds light on the decisions made on Wall Street that led to the collapse of Lehman Brothers and the subsequent bailout of the world's biggest banks. Anyone looking to gain insights into the workings of the finance industry and the role of politics in shaping the global economy will find this book a fascinating read.

Are you fascinated by current world events and the interactions between nations, cultures, and societies? Do you want to explore the complexities of global politics and diplomacy? If so, studying International Relations at university undergraduate level might be the perfect fit for you. International Relations is a dynamic and ever-changing field of study that examines the relationships between countries and how they interact with each other on a global scale. It delves into the complexities of international politics, economics, and culture, and explores how these factors shape the world we live in. One of the most appealing aspects of studying International Relations is the opportunity to learn about real-life examples of international relations at work. From the UN peacekeeping missions to the Paris Climate Agreement, you will learn about some of the most significant events and agreements in modern history. You will also get to study the works of well-known academic figures such as Joseph Nye and Samuel Huntington, who have contributed groundbreaking theories to the field. At the undergraduate level, typical majors and modules include International Political Economy, Global Governance, and International Security. You can also specialize in areas such as Middle Eastern Studies or Human Rights, depending on your interests. For example, you could study the role of women in conflict resolution in the Middle East or analyze the impact of climate change on global security. After completing your degree, there are numerous potential career paths you could take. You could work in government agencies or think tanks, consulting firms, or international organizations such as the United Nations or the World Bank. You could also work in the private sector, with companies such as Google or ExxonMobil, who have a global presence and need employees with an understanding of international relations. To succeed in this field, it's helpful to have a strong interest in current world events and a desire to understand how they fit into the bigger picture. Strong analytical and critical thinking skills are also crucial, as is the ability to communicate effectively and work well in a team. So if you're passionate about global issues and want to make a positive impact on the world, studying International Relations at university undergraduate level could be the perfect choice for you.

Cartels, a combination of two or more companies working together to control prices and restrict competition, have been a hot topic in the economic and political world for centuries. From De Beers, the infamous diamond cartel, to OPEC, the global oil cartel, these organizations have a profound impact on the world's economy and politics. Some cartels, such as De Beers, have been able to maintain their control for decades, while others, like the American sugar cartel in the early 20th century, have been dissolved for violating antitrust laws. So, what makes a cartel legal or illegal? Economist Joseph Stiglitz explains that legal cartels are those that operate within a framework of laws and regulations, while illegal cartels engage in anti-competitive behavior, such as price fixing or market division. Legal cartels, like De Beers, have the potential to increase efficiency and innovation in the market. Illegal cartels, on the other hand, can lead to increased prices for consumers and a decline in market competition. The factors that determine the legality of a cartel also include government intervention, consumer protection, and market conditions. For example, OPEC, while considered a legal cartel, operates within strict regulations set by the governments of its member countries. It's important to understand the impact that cartels have on the global economy and politics. By exploring the complexities and nuances of legal and illegal cartels, you'll take a step further in gaining a deeper understanding of economics and political systems.

In Uneasy Street, Rachel Sherman delves into the lives of fifty affluent New Yorkers, including hedge fund financiers and corporate lawyers, to uncover their perspectives on privilege and wealth. Contrary to popular belief, these "liberal elites" feel conflicted about their position in a highly unequal society and wish to be seen as "normal." They avoid talking about money and compare themselves to those with more, rather than less. Sherman argues that this ethical distinction between "good" and "bad" wealthy people perpetuates economic inequality and has become ordinary and acceptable to the rest of us. This thought-provoking book challenges our assumptions about the wealthy and their role in society. Recommended for students of sociology, economics, and political science, as well as anyone interested in exploring the complex relationship between wealth and privilege. The book sheds light on how the wealthy perceive their own position in society and how their beliefs perpetuate economic inequality. It is also relevant to professionals in finance, law, and other industries that intersect with wealth and privilege. Finally, Uneasy Street is a must-read for anyone concerned with social justice and the widening gap between rich and poor.

The concept of the "Prisoner's Dilemma" has been studied for over 60 years for its insights into political, military, and economic affairs. The scenario involves two criminals who must decide whether to cooperate or betray each other, with each facing different consequences based on their actions. This dilemma highlights the conflict between self-interest and cooperation, and how rational individuals acting in their own self-interest can bring about the worst-case scenario. Learning about this concept can help students understand the importance of cooperation and the dangers of solely focusing on individual self-interest. It also has practical applications in fields such as politics, economics, and international relations. By exploring this concept through reading, reflection, and self-directed projects, students can gain a deeper understanding of human behavior and decision-making.

Fred Block and Margaret Somers' book "The Power of Market Fundamentalism" delves into the paradox of why free-market ideas have persisted despite their failures. Drawing from Karl Polanyi's work, the authors explain how the free market championed by market liberals never existed and why markets cannot be self-regulating. The book reveals the theoretical flaws of market principles and how they threaten social life when public goods are subjected to market principles. This intellectually stimulating read is perfect for students interested in economics, political science, and sociology. Recommended for students of economics, political science, and sociology, "The Power of Market Fundamentalism" is a thought-provoking analysis of the paradoxical persistence of free-market ideas despite their failures. Fred Block and Margaret Somers' book extends Karl Polanyi's work to explain how markets cannot be self-regulating and why they require ongoing state action. The authors reveal the theoretical flaws of market principles and how they endanger social life when public goods are subjected to market principles. This book is relevant to professionals in public policy, business, and finance, as well as those interested in exploring the intersection of politics and economics.

In the world we live in, there are many problems that we can't solve alone, but only as a collective group. This is known as a collective action problem. It's a situation where we all share a common goal, but we need everyone to contribute in order to achieve it. Whether it's reducing air pollution, protecting endangered species, or promoting a culture of body positivity, collective action problems require coordination and collaboration. By understanding the underlying structure of these problems and exploring potential solutions like social norms, legal sanctions, and tax incentives, we can learn how to tackle these challenges and make a positive impact on the world. Not all problems are worth solving, but by identifying the ones that are, we can work together to create a better future for ourselves and for generations to come.

Have you ever wondered why some CEOs earn hundreds of times more than their employees? In recent years, the topic of excessive CEO compensation has gained widespread attention and sparked intense debate. While some argue that CEOs deserve high pay for their leadership and contributions to their companies' success, others believe that such compensation is unjustified and contributes to economic inequality. In this write-up, we will explore the justifications for and advances in the area of excessive CEO compensation, and discuss the impact it has on the economy and society at large. One common argument in favor of excessive CEO compensation is that it serves as an incentive for CEOs to work harder and make better decisions. Supporters of this view believe that the promise of a large salary and bonuses motivates CEOs to maximize their companies' profits and shareholder value. However, critics argue that this argument is flawed, as there is little evidence to suggest that higher pay leads to better performance. In fact, some studies have found that excessive CEO compensation can lead to short-term thinking, risk-taking, and unethical behavior. In recent years, there have been several advances in the area of excessive CEO compensation. One significant development is the increased attention and scrutiny placed on CEO pay by shareholders, activists, and the media. This has led to a greater focus on the link between CEO pay and company performance, as well as the need for greater transparency and accountability in executive compensation. Another development is the rise of shareholder activism, in which investors use their power to influence companies' decisions on CEO pay and other issues. To fully understand the topic of excessive CEO compensation, it is important to be familiar with certain academic terms and concepts. One such term is "pay ratio," which refers to the ratio of CEO pay to median employee pay. Another important concept is "stock options," which are a form of executive compensation that gives CEOs the right to buy company stock at a set price. Additionally, "agency theory" is a key concept that is used to explain and resolve issues in the relationship between CEOs and their companies' shareholders. Several leading academics have made significant contributions to the study of excessive CEO compensation. One of these scholars is Lucian Bebchuk, a professor at Harvard Law School who has written extensively on the topic. Bebchuk argues that excessive CEO pay can lead to a misalignment of interests between executives and shareholders, and calls for reforms to address this issue. Another important academic in this area is Steven N. Kaplan, a professor at the University of Chicago Booth School of Business. Kaplan's research focuses on the link between CEO pay and company performance, and he has found that the relationship between the two is more complex than previously thought. Excessive CEO compensation is a complex and controversial topic that has significant implications for the economy and society.

The Imperial College Business School conducted a study that reveals the wealth gap in the US has grown faster than in Europe, and the primary cause of this phenomenon is the significant increases in stock market prices. The research aims to explore the reasons behind the growing wealth inequality in the US and identify the necessary actions to address it.

In "The Curse of Cash," Kenneth Rogoff, a world-renowned economist, presents a radical idea: getting rid of most paper money to fight crime, tax evasion, and financial crises. With a record $1.4 trillion in US dollars alone, paper money is feeding a massive underground economy, crippling monetary policy, and making us poorer and less safe. Rogoff offers a plan to phase out most paper money, leaving small-denomination bills and coins in circulation, and addresses the issues the transition will pose. This thought-provoking book is a must-read for anyone interested in economics, finance, politics, and social justice. Recommended for students of economics, finance, and political science, as well as professionals in banking, law enforcement, and policy-making, "The Curse of Cash" sheds light on the hidden costs and dangers of paper money and proposes a bold solution to some of the world's biggest problems. By exploring the links between cash, crime, corruption, terrorism, and economic inequality, Rogoff challenges us to rethink our assumptions about money and value, and to consider the implications of a cashless society for privacy, security, and social welfare. This book is also relevant to anyone interested in global affairs, technology, and the future of money.

When we think of governance, we often imagine a group of officials making decisions on behalf of a larger population. But there's another approach to governance that's gaining attention: multi-stakeholder governance. What is multi-stakeholder governance, and how does it differ from traditional forms of governance? At its core, multi-stakeholder governance is about collaboration between different groups of stakeholders to make decisions that affect them all. Instead of a top-down approach, where decisions are made by a single group, multi-stakeholder governance involves a variety of stakeholders, including government officials, non-governmental organizations, businesses, and community members. One of the key benefits of multi-stakeholder governance is that it can lead to more effective and equitable decision-making. By bringing together diverse perspectives and experiences, multi-stakeholder governance can help ensure that everyone's voice is heard and that decisions reflect the needs and concerns of all stakeholders. This approach can be particularly effective in addressing complex issues that require a broad range of expertise and input. But multi-stakeholder governance isn't without its challenges. Collaboration can be difficult, and finding common ground among different stakeholders can be a time-consuming and complex process. In addition, power imbalances can arise, with some stakeholders having more influence or resources than others. Despite these challenges, multi-stakeholder governance has gained traction in a variety of sectors, from environmental management to public health. For example, the Forest Stewardship Council (FSC) is a multi-stakeholder governance initiative that promotes responsible forest management by bringing together environmental, social, and economic stakeholders. The Global Alliance for Vaccines and Immunization (GAVI) is another multi-stakeholder initiative that works to increase access to immunization in low-income countries. Leading academics in the field of multi-stakeholder governance include Elinor Ostrom, who won the Nobel Prize in Economics in 2009 for her work on the governance of common-pool resources, and Mark Anner, who has researched multi-stakeholder governance in global supply chains. In conclusion, multi-stakeholder governance is a unique approach to decision-making that emphasizes collaboration and inclusivity. While it presents some challenges, it has the potential to be a powerful tool for addressing complex issues and ensuring that all voices are heard. By exploring examples such as the FSC and GAVI, and learning from leading academics such as Ostrom and Anner, students can gain a deeper understanding of this important concept and its potential to make a positive impact in the world.

Cryptocurrency investors are at risk of gambling-related harms, with online gambling outlets accepting crypto wagers posing even greater threats. A new study by the University of Bristol and the University of East London highlights the lack of regulation, risk of fraud, and extreme price volatility as emerging crypto risks. The study explores the intersection of cryptocurrency investing and gambling, citing evidence that shows how crypto trading is associated with increased gambling activity and high-risk stock trading. Cryptocasinos present a double danger, allowing gamblers to bet on sophisticated online gambling products using volatile cryptocurrencies as the source of funds.

If you have a passion for making a positive impact on society and shaping the world we live in, then a career in public policy might be the perfect fit for you. Public policy professionals work in a wide range of fields, from government and non-profit organizations to international organizations and think tanks. Their work involves analyzing social and economic issues, developing policies, and implementing solutions that address complex problems facing society. One of the most appealing aspects of a career in public policy is the opportunity to make a tangible difference in people's lives. Public policy professionals can work on issues such as climate change, poverty, education, and healthcare, among others. For instance, they can advocate for environmental protection policies that reduce greenhouse gas emissions and mitigate the impact of climate change, or they can develop programs that increase access to healthcare services for underserved communities. As a public policy professional, your typical duties might include conducting research, analyzing data, and working with stakeholders to develop policies that address a specific issue or problem. You may also be responsible for evaluating the effectiveness of existing policies and proposing improvements. Depending on your interests and strengths, you can specialize in a particular area of public policy, such as healthcare, education, environmental policy, or international relations. To pursue a career in public policy, you typically need a bachelor's degree in a relevant field, such as political science, economics, or public administration. Some popular undergraduate programs and majors in this field include Bachelor of Arts in Political Science, Bachelor of Science in Public Policy, Bachelor of Arts in Economics and Bachelor of Science in Public Administration. In addition to academic credentials, public policy professionals need certain personal attributes to be successful. These include strong analytical and critical thinking skills, excellent communication and interpersonal skills, and a commitment to public service and social justice. The job prospects for public policy professionals are excellent, with a wide range of employers across the public and private sectors. Some notable employers in this field include the United Nations, the World Bank, the International Monetary Fund, the Environmental Protection Agency, and the U.S. Department of State..

As a high school student, you may have heard of the term "trickle-down economics." This concept was introduced in the 1980s, when President Ronald Reagan's administration implemented policies to stimulate the US economy. The key academic concepts here are tax cuts and their impact on the government's revenue, the economy, and people's lives. By understanding these concepts, you can learn how economic policies affect society, and how to analyze them critically. Moreover, by exploring this topic, you can develop your research and writing skills, and engage with current events that may impact your future. While there is no clear answer as to whether trickle-down economics is an effective policy, exploring this topic can provide valuable insights into economic theory and current political discourse. So why not explore this fascinating topic further and discover new perspectives on economic growth?

Technology has been a driving force in shaping our world and shaping the future. With the advancement of technology, come new challenges and opportunities. One such challenge is the taxation of technology. Did you know that technology companies are among the largest tax evaders in the world? According to a study by the European Commission, the top 30 tech companies in the EU pay an effective tax rate of just 9.5%, compared to the average 23.2% for other companies. This raises questions about the fairness and sustainability of our tax systems in the digital age. Leading academics in the field, such as Gabriel Zucman and Matthew Kirshner, have proposed solutions such as a global minimum tax rate for multinational companies and a tax on digital revenues. They argue that such measures are necessary to ensure that technology companies pay their fair share and to fund public goods, such as education and infrastructure, that are essential for technological progress. But what are the potential consequences of such measures? Some experts, such as Alex Cobham, warn that a global minimum tax rate could lead to a race to the bottom, as countries compete to lower their tax rates to attract investment. Others, such as Dhammika Dharmapala, argue that a tax on digital revenues could hurt innovation and stifle competition. As young academics, it is important to explore these issues and to think critically about the role of technology and taxes in shaping our future. By exploring these themes and developing your critical thinking skills, you can become informed citizens and active participants in shaping the future of technology and taxes.

Neoliberalism is a term we often hear thrown around, but do you really understand what it means? At its core, neoliberalism is an economic philosophy that emphasizes the importance of individual liberty and the freedom of markets. It argues that markets can produce their own philosophy, and therefore we should look at the world through the eyes of the market. While some see neoliberalism as a way to deliver public services through privatisation over state control, others argue that it leads to uncontrolled globalisation that puts corporations above nations. Understanding neoliberalism can help you develop critical thinking skills and a deeper understanding of the way state and market interact with our aspirations. By exploring this concept, you'll be better equipped to navigate the world and make informed decisions that affect your life.

Are you interested in making a difference in the world? Do you want to be part of the team that shapes and influences the policies that affect our lives? If you answered yes, then a career as a Policy Analyst might be perfect for you! Policy Analysts are professionals who work to research, analyze, and develop policies that impact a wide range of industries and sectors. They are responsible for identifying the issues, analyzing data, and making recommendations to improve policies and programs. They work in various fields such as healthcare, education, social welfare, environmental protection, and more. As a Policy Analyst, you could work on projects that range from improving public transportation to developing new healthcare policies. You could also be involved in researching and analyzing data on social and economic trends, as well as working with policymakers to develop and implement new policies. One exciting aspect of this career is the potential for specialization. You could choose to focus on a specific area, such as environmental policy, healthcare policy, or education policy. This allows you to become an expert in your chosen field and make a significant impact on the issues that matter most to you. To become a Policy Analyst, you will typically need a Bachelor's degree in a related field such as Political Science, Public Administration, or Economics. Some popular undergraduate programs and majors include Public Policy, International Relations, and Sociology. Helpful personal attributes for this career include excellent analytical skills, strong communication skills, and the ability to work well in a team. You should also have a passion for research and a desire to make a positive impact on society. Job prospects for Policy Analysts are excellent, with many opportunities available in both the public and private sectors. Some notable employers include the United Nations, World Bank, International Monetary Fund, and various government agencies such as the Department of Homeland Security and the Environmental Protection Agency. In conclusion, a career as a Policy Analyst offers an exciting and rewarding opportunity to make a difference in the world. With a wide range of potential specializations and excellent job prospects, this career is perfect for those who are passionate about research, analysis, and making a positive impact on society. So what are you waiting for? Start exploring this exciting career today!

Do you have a passion for making a difference in the world? Are you interested in working in a field that allows you to travel and experience different cultures while helping others? If so, a career as an International Development Specialist may be the perfect fit for you! As an International Development Specialist, you will work to improve the quality of life for people in developing countries. This can include anything from providing access to clean water and healthcare, to promoting economic growth and sustainable development. You will work with local communities, governments, and organizations to identify needs and develop solutions that are tailored to each unique situation. One of the most appealing aspects of this career is the opportunity to make a meaningful impact on people's lives. Imagine working on a project that provides a village with clean drinking water for the first time, or helping to establish a microfinance program that empowers women to start their own businesses. These are just a few examples of the types of projects that International Development Specialists work on every day. Typical duties of an International Development Specialist can vary depending on the specific area of focus. Some may specialize in healthcare, while others may focus on education or environmental sustainability. However, all International Development Specialists share a common goal of improving the lives of people in developing countries. To become an International Development Specialist, you will typically need a Bachelor's degree in a relevant field such as International Relations, Economics, or Environmental Studies. Many universities offer specific programs in International Development that can provide you with the necessary skills and knowledge to succeed in this field. In addition to formal education, there are several personal attributes that can be helpful in this career. These include strong communication skills, cultural sensitivity, and the ability to work well in a team. Fluency in a second language is also highly desirable. Job prospects for International Development Specialists are strong, with many opportunities available in both the public and private sectors. Notable employers include the United Nations, World Bank, and various non-governmental organizations such as Save the Children and Oxfam. In the long term, the outlook for this career is positive as the need for sustainable development and poverty reduction continues to grow. So if you're looking for a career that allows you to make a difference in the world while experiencing new cultures and environments, consider becoming an International Development Specialist.

In his book, Robert Bork offers a unique perspective on antitrust law that challenges conventional wisdom. He argues that these laws, often thought to protect consumers, actually do the opposite by favoring inefficient small businesses. Bork also delves into the societal tensions between liberty and equality that are reflected in antitrust law. This book is a must-read for anyone interested in economics, law, or politics, as it sheds new light on an important and often misunderstood topic. Recommended for students of law, economics, and political science, as well as anyone interested in understanding the impact of antitrust law on consumers and small businesses. The insights offered by Bork's analysis of the societal tensions between liberty and equality are also relevant to those studying sociology and philosophy. This book is particularly relevant to those interested in the intersection of law and economics, and the role of government in regulating business practices. It is also a valuable resource for entrepreneurs and small business owners seeking to understand the impact of antitrust laws on their industry.