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Fields R: After the Break

After the Break

America's Economy in a World That Walked Away

Routledge Revivals

Originally published in 1976, this penetrating analysis of British industry in the second half of the twentieth century discusses the lessons of failure and indicates the way back to success for British management. The author's experience in government and industry as a Cabinet Minister and Deputy President of the Confederation of British Industry reveals insights into high-level policy decisions and fundamental business truths. Hitherto unpublished ministerial directives and behind-the-scenes glimpses of historic meetings set the back-drop of authentic involvement against which policy mistakes are viewed and a recovery plan is projected. Suggestions are made for a more efficient working relationship between government and industry and comparisons made with industrial management and strategy in the EU.

What Has Gone Wrong in Industrial Britain Since the War?

Blueprint for Industrial Survival

Most of us think about money every day. But how many of us know how it actually works?Every morning, someone unassumingly types numbers into a spreadsheet, hits enter and creates millions of pounds. Somewhere deep underground, a machine most of us will never see props up the entire British economy. And hidden in a vault nearby are individual banknotes worth £100 million each. These are just some of the surprising truths about how money works.The Bank of England know more about the money system than most - after all, it is their job to keep it running smoothly. Now, for the first time, two of its economists take you deep into their vaults to tell you the inside story of money.They explain how ordinary banks are able to create money from scratch, and what stops that descending into chaos. They explore what causes inflation and why one country tried to solve rising prices by asking its citizens to cut all banknotes in half. They uncover how a baby hippo briefly became a global currency, and what that says about the future of money. And they reveal what goes on inside the Bank of England during a banking crisis, and why it means your money is safer now than ever before.Along the way, they explore how money is changing today - and what new technologies like crypto mean for its future. The result is a lively and surprising guide to how money is supposed to work, what happens when it doesn't, and where it might be going next.

The Surprising Truth About How Money Works

Money: The Inside Story

ADVANCED MACROECONOMICS (2ND ED)

A blueprint for an economy that delivers true shared prosperity and inclusive growth. How can we address economic inequality? Most proposed solutions ask the rich to pay higher taxes to benefit the poor. But the rich have the political power to control whether redistribution happens and are unlikely to tolerate such arrangements. Therefore, Francesco Caselli argues, what's needed is a system that generates wealth equitably at the source: an economy that retains free markets but replaces traditional corporations with worker-managed cooperatives, where every employee has an equal say in company governance. Cooperatives in the Twenty-First Century shows that properly designed worker coops can match the productivity of conventional firms while sharing the resulting prosperity more evenly. Hardly a radical, Caselli mobilizes decades of orthodox economics research to distill the principles required for cooperatives to succeed: He explains how to implement worker democracy, structure management, address worker discipline, and protect the rights of those who leave the coop, among other matters. If a coop follows these principles, it will be "incentive-compatible"-that is, each member will work hard because it will be in their interest to do so. Crucially, this coop system does not assume worker altruism. A well-designed cooperative will succeed even if every worker is a purely selfish Homo economicus. Effective worker coops are not the stuff of utopian fantasy: Spain's Mondragon federation, for example, has been around for seventy years and employs over 70,000 workers. But coops are still rarer than they should be. Caselli's meticulous, accessible recommendations offer a vision of a more equal economic future and detail how we can get from here to there.

How Worker-Managed Companies Can Curb Inequality and Support Free Markets

Cooperatives in the Twenty-First Century

Saving Africa's Future

We Are the World

Creating Prosperity Through Freedom, Order, and Innovation

How Nations Win

A fresh interpretation of the Enlightenment that reshapes our understanding of political economy and its intellectual foundations.The origins of political economy are often told as a story of increasing certainty, rationality, and scientific progress. But what if its earliest thinkers were instead preoccupied with uncertainty? In Doubtful Knowledge, Richard Adelman offers a striking new interpretation of eighteenth-century political economy by tracing its roots to the skeptical philosophy of the European Enlightenment.Moving between Scotland and France, Adelman reveals how figures including David Hume, Adam Smith, Denis Diderot, Jean Le Rond d'Alembert, François Quesnay, and the Physiocrats developed a shared understanding of the limits of human knowledge. Rather than presenting markets or societies as systems that could be fully understood or controlled, they emphasized the complexity of the social world, the fallibility of human judgment, and the need for intellectual humility. Through close readings of major philosophical and political-economic texts, Adelman demonstrates that skepticism was not peripheral to early political economy but fundamental to its emergence. Challenging long-held assumptions about the history of economics and Enlightenment thought, Doubtful Knowledge reframes debates about commerce, governance, progress, and human nature.By bringing together intellectual history, literary studies, philosophy, and the history of political economy, Adelman offers a compelling account of how eighteenth-century thinkers understood knowledge itself--and why their questions remain relevant to contemporary discussions about economics, politics, and the limits of expertise.

Skepticism and the Birth of Political Economy

Doubtful Knowledge

This book reframes the question of how Africa industrializes, and is the first to address a key challenge facing African economies today: achieving structural transformation alongside decarbonization, i.e. industrializing and greening simultaneously, rather than sequentially as earlier developers did. 

Drawing on primary fieldwork across five national economies - Ethiopia, Mauritius, Morocco, Nigeria, and South Africa - and six strategic sectors, accounting for 40% of Africa's GDP and a third of its population, Arkebe Oqubay advances the concept of Green Productive Transformation, in which structural economic change and decarbonization are treated as mutually constitutive imperatives rather than competing objectives. The comparative evidence demonstrates that where government policy, industrial hubs, and firm capabilities are strategically aligned, productive transformation and green transformation reinforce each other; where they are not, industrial growth follows the path of least environmental resistance, producing carbon lock-in. 

Just transition and energy transition frameworks are designed primarily with industrialized economies in mind. This book challenges the utility of these frameworks for Africa, and instead advances a domestically-driven alternative, grounded in structural transformation theory, green industrial policy, and the political economy of late development. No single green pathway exists for Africa: the evidence presented here reveals conditional pathways shaped by national context, sectoral configuration, and policy choice. A green, productive Africa is not an inevitable outcome of global technological change, but it is genuinely within reach, and the first step is getting the analysis right.

Greening African Economic Development

Phenomenal World Books

A critical history of the US dollar's dominance in the world economy--and what has kept China's currency from overtaking it. The dollar is the primary currency of the world economy. With China now rivaling the United States on the world stage, a critical question hangs in the balance: will the Chinese renminbi challenge the status of the dollar and, in doing so, deprive America of its "exorbitant privilege"? In GreenbackEmpire, Ho-fung Hung offers a powerful account of why, even as American shares of global production, ownership, and trade continue to decline, its currency has retained the support of governments and investors around the world. For six decades, Hung shows, the dominance of the dollar has rested on the security umbrella that the US offers to the world's wealthiest countries--including oil producers. To these countries, support for the value of the dollar is tantamount to maintaining US protection. While China has become a serious geopolitical and economic rival to the US, the Chinese state's airtight control of its financial system has delayed the free trading of the renminbi, limiting the currency's internationalization. In short, the same strategy that engineered growth in China's economy is restraining its currency's rise in opposition to the dollar. Hung's Greenback Empire is an essential history of the dollar's prowess, indispensable for understanding the future of the global monetary system.

After the Break

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