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.

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.

In "Bad Samaritans," economist Ha-Joon Chang challenges the conventional wisdom of free-market globalization and its champions like Thomas Friedman. Using humor and historical examples, Chang argues that protectionism and government intervention are the true keys to prosperity for today's economic superpowers. He exposes the myths of free-market ideology, including the hypocrisy of patent and copyright protection, and the false assumption that centrally planned economies stifle growth. This provocative and contrarian history of global capitalism will challenge your assumptions and make you think twice about the policies we force on developing nations. Recommended for students of economics, political science, and global studies, as well as anyone interested in the history and politics of globalization and economic justice. This book will appeal to those who question the orthodoxies of free-market capitalism and want to explore alternative models of economic development. It will also be of interest to activists and policymakers concerned with the impact of globalization on developing nations and the role of government in promoting economic growth. Chang's engaging style and irreverent wit make this a thought-provoking and accessible read for anyone seeking a deeper understanding of the complex issues surrounding global capitalism.

Robert Frank's "The High-Beta Rich" exposes the untold story of the high-beta rich and their impact on the American economy. With vivid storytelling, Frank takes readers inside the mortgaged mansions, blown-up balance sheets, and repossessed Bentleys and Gulfstreams. The book highlights how the top 1% of the population, who control more than a third of the country's wealth, are becoming an increasingly unstable force in the economy, wreaking havoc on communities, employment opportunities, and government finances. This engrossing read is a must for anyone interested in understanding the national consequences of high-beta wealth. Recommended for economics and business students, policymakers, and anyone interested in understanding the impact of wealth inequality on the economy and society. The book's insights into the volatile nature of high-beta wealth and its consequences for communities, employment opportunities, and government finances make it an important read for those concerned with economic stability and social justice. The book's vivid storytelling and analysis of the lives of the high-beta rich also make it an entertaining read for anyone interested in the lifestyles of the wealthy.

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.

How did the Winnebago tribe of Nebraska turn their extreme poverty into prosperity through self-determination? Learn how their success story is inspiring Harvard's Project on Indigenous Governance and Development.

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.

Libertarianism is a political philosophy that values individual liberty and minimal government intervention. Its roots go back to the European Enlightenment and American independence in the 18th century. Libertarians believe in the principle of self-ownership and negative freedom, which means freedom from interference by others, especially the government. They advocate for a minimal state that only provides protection against force, theft, fraud, and enforcement of contracts, without public services such as health and education. Although critics argue that we need positive freedom, which includes access to things like decent housing, healthcare, and education, libertarianism's influence can be felt every time people attack big government or the nanny state. Learning about libertarianism can help students understand different political philosophies and develop critical thinking skills.

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.

Nobel Prize-winning economist Joseph E. Stiglitz's best-selling book "The Price of Inequality" is a powerful indictment of America's growing inequality and its corrosive effects on our economy, democracy, and system of justice. Stiglitz argues that politics, not just market forces, have shaped this vicious circle of inequality, and he exposes the efforts of well-heeled interests to compound their wealth at the expense of true, dynamic capitalism. With characteristic insight, Stiglitz offers a vision for a more just and prosperous future, supported by a concrete program to achieve that vision. Recommended for students of economics, political science, and sociology, as well as anyone concerned about the growing inequality and lack of opportunity in America. This book is particularly relevant to those interested in the role of politics in shaping market forces, the effects of inequality on our economy and democracy, and the need for concrete policy solutions to address these issues. It may also be of interest to activists and advocates working towards greater economic and social justice.

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.

The Great Depression was a significant global economic crisis that lasted from 1929 to the late 1930s, leading to severe consequences for people worldwide. From the US stock market collapse to failed banks, bankruptcy, and the rise of Hitler's Nazi Party, this period marked a significant turning point in world history. Learning about this critical historical event can provide you with a comprehensive understanding of the economic concepts that govern our lives today. Through exploring the Great Depression, you can develop critical thinking, analytical skills, and a sense of how economic policies shape our world. By understanding the past, we can learn to make better decisions in the future.

Former Goldman Sachs executive, Roger Ng, has been sentenced to 10 years in prison for his role in the 1MDB scandal. The scandal involved the looting of billions of dollars from Malaysia's sovereign wealth fund, leading to massive fines for Goldman and rocking Malaysian politics. Ng had denied the charges, but prosecutors argued he played a key role in a corruption scheme that took funds intended for development projects and used them for bribes and personal gain. Learn more about this audacious scheme and its impact on global institutions.

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.

Have you ever wondered what goes on in the minds of judges as they make decisions in our legal system? In 'The Behavior of Federal Judges', a political scientist, an economist, and a judge team up to unravel the mystery of judicial decision-making. Through statistical analyses and a labor-market model, they reveal how judges are motivated by both financial and non-financial factors, and how ideology plays a role in decision-making at different levels of the federal judiciary. This book offers a fascinating insight into the complex world of judicial behavior, dispelling traditional legalist and political science theories. Join the authors on a journey to uncover the truth behind the robes." Recommended for law students, legal professionals, political scientists, and anyone interested in the workings of the American legal system. This book provides a unique perspective on judicial decision-making, using a labor-market model to explore the motivations of judges. It dispels traditional legalist and political science theories, highlighting the role of ideology in decision-making at different levels of the federal judiciary. This book is relevant to those interested in the intersection of law and economics, as well as those interested in understanding the complexities of the judicial system. It offers a fascinating insight into the minds of judges, and how they navigate the intricate web of legal and ideological factors that shape their decisions.

European Union (EU), European Community (EC) and the Eurozone are complex political and economic concepts that are closely intertwined and often used interchangeably. However, they are not exactly the same thing. Understanding the differences between these three concepts is crucial for anyone interested in the study of European politics and economics. The European Community was established in 1957 with the signing of the Treaty of Rome. It was created to promote economic cooperation between European countries and to help create a common market. The European Community consisted of three main institutions: the European Commission, the Council of the European Union, and the European Parliament. In 1993, the Maastricht Treaty transformed the European Community into the European Union. The EU expanded the scope of cooperation between European countries, now covering a wider range of policy areas such as justice, foreign policy, and defense. The EU has 27 member countries and operates through the same three institutions as the European Community. The Eurozone, on the other hand, is a monetary union within the EU that consists of 19 countries that have adopted the euro as their currency. The purpose of the Eurozone is to promote economic integration and stability in Europe through the use of a common currency. Leading academics in the field, such as John Peterson and Andrew Moravcsik, have made significant contributions to our understanding of the EU, EC and the Eurozone. Peterson's work focuses on the development of the EU's institutional structure and its impact on member states, while Moravcsik's research examines the EU's decision-making processes and its role in global governance. So, what makes these three concepts different from each other? The European Community was established to promote economic cooperation, the EU expanded the scope of cooperation to cover a wider range of policy areas, and the Eurozone is a monetary union within the EU that uses a common currency. By understanding the differences between the EU, EC, and Eurozone, students can gain valuable insights into the workings of the European Union and the impact it has on its member states.

Enter the mind of Adam Smith, the father of modern economics, and explore his magnum opus, 'The Wealth of Nations'. This classic work, considered the first modern work of economics, delves into the nature and causes of wealth in society. Smith's insights on political economy and moral philosophy continue to shape economic thought today. With an unabridged and illustrated eBook report, readers can navigate through Smith's complex ideas with ease. Discover the antidote to superstition and enthusiasm with 'The Wealth of Nations'." Recommended for students of economics, political science, and philosophy, as well as anyone interested in the history of economic thought. This book provides a foundational understanding of modern economics and the role of government in shaping economic policy. Additionally, those interested in the intersection of morality and economics will find Smith's insights on the subject thought-provoking. The book is also valuable for professionals in the fields of finance and business, as it offers a historical perspective on the evolution of economic systems. Overall, 'The Wealth of Nations' is a must-read for anyone seeking to deepen their understanding of economics and its impact on society.

Are you passionate about the environment and the future of our planet? Do you want to make a real difference in the world? Then studying Climate Change Policy might just be the perfect field of study for you! Climate Change Policy is an interdisciplinary field that combines science, politics, economics, and law to address one of the most pressing issues of our time: global warming. As a student in this field, you'll gain a deep understanding of the science behind climate change, as well as the policies and strategies needed to mitigate its effects and adapt to its impacts. One of the most exciting aspects of studying Climate Change Policy is the real-world impact you can have. From designing renewable energy policies to developing sustainable transportation systems, the work of Climate Change Policy experts has a direct impact on the health of our planet and the well-being of future generations. As a student in this field, you'll have the opportunity to engage in cutting-edge research and innovation, working with top academics and experts in the field. You'll explore the latest academic discourse and learn from well-known figures like Naomi Klein, Bill McKibben, and Michael Mann, who have made significant contributions to the field. At the undergraduate level, you'll typically take courses in Environmental Science, Economics, Political Science, and Law, among others. Specializations can include topics like Climate Change Adaptation, Energy Policy, Environmental Law, and Sustainability. You'll also have the opportunity to gain hands-on experience through internships and research projects. The potential career paths for Climate Change Policy graduates are vast and varied. You could work for government agencies, non-profit organizations, or private companies, designing and implementing policies to reduce greenhouse gas emissions and promote sustainability. You could also work in academia, researching and teaching about climate change and its impacts. Notable employers in this field include the United Nations, the World Bank, and the Environmental Protection Agency, among others. To succeed in this field, you'll need to be passionate about the environment and committed to making a difference in the world. You should also have strong analytical and critical thinking skills, as well as excellent communication and teamwork abilities. If you're ready to take on the challenge of addressing climate change head-on, then studying Climate Change Policy might just be the perfect fit for you!

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.

Ever wondered why corruption levels vary in African countries? A new study suggests that the legacy of colonial rule may be partly to blame. Find out how British colonial rule may have fostered the corruption of local elites (chiefs) and undermined society's trust in them. Discover the significant welfare implications of this on agriculture, natural resources, mining royalties, public goods, and economic development in many African societies.