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General Interest...................................2-3
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Global Economy................................ 4-5
Political Economy..............................6-7
Economic Development.................7-8
Social Economics............................ 10-11

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Use code S18ECON to receive
a 20% discount on all ISBNs
listed in this catalog. Tyranny Comes Home The Myth of Millionaire
The Domestic Fate of U.S. Tax Flight
Visit to order online. Visit
Militarism How Place Still Matters for the Rich
for information on phone Christopher J. Coyne and Cristobal Young
orders. Books not yet published Abigail R. Hall
or temporarily out of stock will be As U.S. states consider raising taxes
charged to your credit card when Many Americans believe that foreign on their wealthiest residents, there
they become available and are in military intervention is central to is a very real concern that these high
the process of being shipped. protecting our domestic freedoms. rollers will board their private jets
But Christopher J. Coyne and and fly away, taking their wealth
Abigail R. Hall urge engaged citizens with them. In The Myth of Millionaire to think again. Under certain Tax Flight, Cristobal Young examines
stanforduniversitypress conditions, policies, tactics, and a trove of data on millionaires
technologies that are used overseas and billionaires and distills down
Blog: stanfordpress.
in the name of national defense are surprising insights. While economic
re-imported to America, changing elites have the resources and capacity
Were celebrating 125 years of the national landscape and increas- to flee high-tax places, their actual
publishing! One year after the ing the extent to which we live in a migration is surprisingly limited.
university opened its doors, the first police state. Ongoing economic potential is
Stanford book,TheTariff Controversy tied to the place where the rich
in the United States, 17891833, was Coyne and Hall examine this pattern
which they dub the boomerang become successful, and that success
published in 1892.Follow us on social
media throughout the academic effectconsidering a variety of ultimately diminishes both the
year for the latest onspecial events rich cases that include the rise of incentive and desire to migrate.
and offers to commemorate the state surveillance, the militarization This important book debunks a
anniversary of one of the oldest U.S. of domestic law enforcement, the powerful idea that has driven fiscal
university presses.
expanding use of drones, and torture policy for years, clearing the way
Learn more
in U.S. prisons. Synthesizing research for a new era.
and applying an economic lens, they With grace, sophistication, and
develop a generalizable theory to unprecedented data, this important
predict and explain a startling trend. book feeds public debates on inequality,
Tyranny Comes Home unveils a new public policy, and the health of
American democracy.
aspect of the symbiotic relationship
between foreign interventions and Martin Gilens,
author of Affluence and Influence
domestic politics.
264 pages, April 2018
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Bernie Madoff and the Crisis Hive Mind WTF?!
The Public Trial of Capitalism How Your Nations IQ Matters So An Economic Tour of the Weird
Colleen P. Eren Much More Than Your Own Peter T. Leeson
Bernie Madoff s arrest could not Garett Jones This rollicking tour through a
have come at a more darkly poetic Hive Mind provocatively argues museum of the worlds weirdest
moment. In the midst of a horrid that differences in national IQ practices is guaranteed to make you
recession, Madoff s story was a media can explain many cross-country say, WTF?! Did you know that
magnet, voraciously consumed inequalities. Expertly synthesizing preowned wives were sold at auction
by a justice-seeking public. Bernie research from psychology, economics, in nineteenth-century England?
Madoff and the Crisis goes beyond management, and political science, How about the fact that, for 250
purely investigative accounts to Garett Jones finds that people who years, Italy criminally prosecuted
examine how and why Madoff do well on standardized tests are, cockroaches and crickets?
became the epicenter of public in fact, better poised to take on
Join WTF?!s cast of colorful char-
fury and titillation. Colleen P. Eren the challenges of todays economy.
acters as they navigate the museum,
analyzes media coverage of this Whats more, intelligent neighbors
led by guide and economist Peter
landmark case alongside original good qualities rub off on one
T. Leeson. From one exhibit to the
interviews with dozens of journalists another, creating positive
next, youll learn how to use eco-
and editors, the SEC Director of spillovers. And thus, the worker
nomic thinking to reveal the hidden
Public Affairs, and Bernie Madoff bees in every nation create a hive
sense behind seemingly senseless
himself. Turning the mirror back mind with a power all its own. Jones
human behaviorincluding your
onto society, Eren locates Madoff leaves readers with policy-oriented
own. Leeson shows that far from
within a broader reckoning about conclusions and hopeful speculation:
irrational or accidents of history,
free market capitalism. Through measures like better nutri-
humanitys most outlandish rituals
A sweeping comment on our society tion and schooling we may be able to
are ingenious solutions to pressing
at large, which created and upheld raise IQ. If we do so worldwide, it is
problemsdeveloped by clever
the kill-or-be-killed finance ethos, possible that this period of massive
people, driven by incentives, and
and thereby produced the twenty- global inequality will be a short
first century version of a Wall Street tailor-made for their time and place.
season in human history.
serial killer. The most interesting book I have
Perhaps the years most important read in years! WTF?! is like
Erin Arvedlund,
author of Too Good to Be True:
economics book, both for the develop- Freakonomics on steroids.
The Rise and Fall of Bernie Madoff ment specialist and the general reader.
Steven D. Levitt,
Fred Thompson, co-author of the bestselling
224 pages, 2017 Governance
9781503602724 Paper $25.95 $20.76 sale Freakonomics book series
224 pages, 2015 264 pages, 2017
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Making Money Discreet Power Globalization Under and
How Taiwanese Industrialists How the World Economic Forum After Socialism
Embraced the Global Economy Shapes Market Agendas The Evolution of Transnational
Gary G. Hamilton and Christina Garsten and Capital in Central and
Cheng-shu Kao Adrienne Srbom Eastern Europe
Beginning in the 1950s, Tawian rapidly In Discreet Power, Christina Garsten Besnik Pula
industrialized, becoming a tributary and Adrienne Srbom undertake The post-communist states of Central
to an increasingly borderless East an ethnographic study of the World and Eastern Europe have gone from
Asian economy. In this book, Gary G. Economic Forum (WEF). Granted being among the worlds most closed,
Hamilton and Cheng-shu Kao show access to one of the primary autarkic economies to some of the
how Taiwanese businesspeople have agenda-setting organizations of our most export-oriented and globally
played a tremendous, unsung role day, they situate the WEF within an integrated. Besnik Pula reaches
in their nations continuing ascent. emerging system of discretionary deep into the regions history and
Drawing on over 30 years of research governance, in which organizations comparatively examines its long-run
and more than 800 interviews, they craft ideas and whisper them into industrial development to explain
tell these industrialists stories. The the ears of formal authorities in this shift. In the 1970s, Central and
picture that emerges is one of agile order to garner significant sway. Yet, Eastern European socialist leaders
neo-capitalists, caught in the flux of the WEF has no formal mandate intensified engagements with the
a rapidly changing landscape, who to implement its positions. It must capitalist West, which challenged
tirelessly endeavor to profit on it. convince others to advance chosen the Stalinist developmental model
Making Money reveals its subjects to causes and implement suggestions, in favor of exports and transnational
be at once producers of economic rendering its position quite fragile. integration. A new reliance on
globalization and its byproducts. Garsten and Srbom argue that the exports launched the integration of
While the future of Taiwanese busi- WEF must be viewed relationally as Eastern European industry into value
ness is uncertain, the durability of a brokering organization that lives chains that cut across the East-West
demand-led capitalism is not. between the market and political political divide. This book enriches
Hamilton and Kao are the only schol- spheresand that extends its reach our understanding of a regional shift
ars who could tell such a comprehen- through associated individuals and while also explaining the distinct
sive and in-depth story about Taiwans groups. They place the WEF in the international roles that Central
export-oriented manufacturing sector context of a broader shift, arguing and Eastern European states have
from its 1960s origins to the present. that networks across business, poli- assumed in the globalized
Ho-Fung Hung, tics, and civil society organizations twenty-first century.
Johns Hopkins University, and author are becoming increasingly powerful
of The China Boom 280 pages, July 2018
agents in global relations. 9781503605138 Cloth $65.00 $52.00 sale
320 pages, 2017
272 pages, June 2018
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Intra-Industry Trade Breaking the WTO Sweet Talk
Cooperation and Conflict in the How Emerging Powers Disrupted Paternalism and Collective Action
Global Political Economy the Neoliberal Project in North-South Trade Relations
Cameron G. Thies and Kristen Hopewell J. P. Singh
Timothy M. Peterson The world economic order has been Developed nations strive to create
Our understanding of trade has upended by the rise of the BRIC the impression that their hearts and
not kept pace with its changing nations and the attendant decline pockets bleed for the developing
nature. Existing models, rooted in of the United States international world. However, five hundred years
Ricardos theories, describe trade influence. This book provides a of colonial racism and post-colonial
between parties that offer different groundbreaking analysis of how paternalism undermine trade nego-
commodities and operate accord- power shifts in the world economic tiations. While urging developing
ing to the logic of comparative order have played out in the World countries to participate in trade, the
advantage. However, intra-industry Trade Organization. Historically, global North offers empty deals to
tradeinternational trade of the the U.S. has pressured other coun- partners in the global South that
same or similar commodities, in tries to open their markets while it regards as unequal. Using mixed
which foreign and domestic brands maintaining its own protectionist methods, J. P. Singh exposes the actual
competeis increasingly prevalent. policies. But, over the course of the position beneath the Norths image of
This book argues that our focus on Doha Round negotiations in 2008, benevolence and empathy: Join in the
the total volume of trade, rather China, India, and Brazil challenged type of trade that developed countries
than its composition, is misplaced. Americas hypocrisy. Negotiations offer or be cast aside. He then reveals
Trade composition matters, not collapsed as these developing states a path forward for developing nations,
just because it gives us a fuller demanded that all members of the showing how they can garner truly
understanding of how trade works, WTO live up to the principles of favorable concessions.
but also because intra-industry free trade. Probing the tensions Singhs blockbuster offers fresh insight
trade increases the likelihood of between the WTOs liberal principles into international trade negotiations,
peaceful relations and cooperation and the underlying reality of power where those in the developing world
between states. politics, Kristen Hopewell explores who do not stand up for themselves,
what the Doha conflict tells us about eyes openare sweetly taken to the
This study is the first to do full cleaners. A penetrating, sobering,
justice, both theoretically and the current and coming balance of
power in the global economy. skillful, and alarming work.
empirically, to the increasing
importance of intra-industry trade. I. William Zartman,
Hopewells analysis is invaluable The Johns Hopkins University,
Well-informed, cogently argued, to understanding one of global and co-author of The Global
and methodologically sophisticated. neoliberalisms key institutions. Power of Talk
Han Dorussen,
University of Essex Peter Evans, 264 pages, 2017
University of California, Berkeley 9781503601048 Paper $24.95 $19.96 sale
208 pages, 2015 288 pages, 2016
9780804791335 Cloth $55.00 $44.00 sale 9781503600591 Paper $27.95 $22.36 sale


The High Cost of Self-Regulation and SECOND EDITION

Good Intentions Human Progress Democracy and

A History of U.S. Federal How Society Gains When Political Ignorance
Entitlement Programs We Govern Less Why Smaller Government
John F. Cogan Evan Osborne is Smarter

Federal entitlement programs are Most of us are familiar with free-

Ilya Somin
strewn throughout the pages of U.S. market competition: the idea that One of the biggest problems with
history, springing from the noble society and the economy benefit modern democracy is that most of
purpose of assisting people who are when people are left to self-regulate, the public is ignorant of politics and
destitute through no fault of their testing new ideas in pursuit of government. Many people under-
own. Yet as federal entitlement profit. Less known is the fact that stand that their votes are unlikely to
programs have grown, so too have this theory arose after arguments change the outcome of an election
their inefficiency and their cost. for the scientific method and and dont see the point in learning
freedom of speech had gone main- much to contribute little.
The High Cost of Good Intentions is
streamand that all three share a
the first comprehensive history of The second edition of Democracy
common basis. It was long thought
these federal entitlement programs. and Political Ignorance fully updates
that society was better left to
Combining economics, history, its analysis to include new and vital
organize itself through free markets
political science, and law, John F. discussions on the implications of
as opposed to political institutions.
Cogan reveals how the creation of the Big Sort for politics, the link
But, over the twentieth century, we
entitlements brings forth a steady between political ignorance and the
became less confident in the notion
march of liberalizing forces that disproportionate political influence of
of a self-regulating socioeconomy.
cause entitlement programs to the wealthy, assessment of proposed
Evan Osborne traces the rise and
expand. This process is as visible new strategies for increasing political
fall of this once-popular concept.
in the eighteenth and nineteenth knowledge, and up-to-date survey data
He argues thatas society becomes
centuries as in the present day. His on political ignorance during recent
more complexself-regulation
work provides a unifying explana- elections. Ilya Somin mines the depths
becomes more efficient and can
tion for the evolutionary path of the current state of ignorance in
once again serve our economy well.
that nearly all federal entitlement America and reveals it as a major prob-
programs have followed over the Osbornes argument and ability to lem for democracy. He weighs various
past 200 years, tracing both their connect disparate tidbits expanded options for solving this problem,
shared past and the financial risks my own knowledge a great deal. provocatively arguing that political
they pose for future generations. Gary Wolfram, ignorance is best mitigated and its
Hillsdale College
512 pages, 2017 effects lessened by decentralizing and
9781503603547 Cloth $45.00 $36.00 sale 272 pages, January 2018 limiting government.
9780804796446 Cloth $65.00 $52.00 sale
312 pages, 2016
9780804799317 Paper $27.95 $22.36 sale

Selfish Libertarians and The Rise and Fall of Boom Towns
Socialist Conservatives? Urban Economies Restoring the Urban
The Foundations of the Lessons from San Francisco American Dream
LibertarianConservative Debate and Los Angeles Stephen J. K. Walters
Nathan W. Schlueter and Michael Storper, Thomas In Boom Towns, Stephen J. K. Walters
Nikolai G. Wenzel Kemeny, Naji Makarem, diagnoses the root causes of urban
Selfish Libertarians and Socialist and Taner Osman decline in order to prescribe remedies
Conservatives? presents a lively This book challenges many conven- that will enable cities to thrive once
debate about the essential ques- tional notions about economic again. Arguing that commonplace
tions that divide two competing development and sheds new light on explanations for urban decay mis-
political philosophies. Nikolai G. its workings. We must understand the understand the nature of our towns,
Wenzel, a libertarian, and Nathan interactions of three major components Walters reconceives of cities as dense
W. Schlueter, a conservative, economic specialization, human accumulations of capital in all of its
explore the fundamental similari- capital formation, and institutional formsplaces that attract people by
ties and differences between their factorsto determine how well a making their labor more productive
respective positions. Over a series regional economy will cope with and their leisure more pleasurable.
of pointcounterpoint chapters, new opportunities and challenges. Using vivid evocations of iconic
their engaging dialogue introduces Drawing on economics, sociology, towns and the people who crucially
readers to the foundations of each political science, and geography, the affected their destinies, Walters shows
stance. The authors explore three authors argue that the economic how public policy measures which
hot-button cases: marriage, immi- development of metropolitan regions aim to revitalize often do more harm
gration, and education. Compact, hinges on previously underexplored than good. He then outlines a more
accessible, and complete with capacities for organizational change promising set of policies to remedy
suggestions for further reading, in firms and networks of people. the capital shortage that continues to
this book is an ideal teaching tool afflict many cities and needlessly limit
This lively and exhaustively docu- their residents opportunities.
and primer. mented study tells the story of how
Schlueter and Wenzel explore the two representative urban regions This book is just the sort of intellec-
conflict and kinship between con- have carried on the ancient and tual capital that can make the world
servatism and libertarianism with ever-new competition for commerce a better place.
a degree of scholarship that shames and hegemony. Matthew Mitchell,
the thin debate foisted upon Amer- Kevin Starr, Library of Law and Liberty
icans by so many talking heads. University of Southern California
224 pages, 2014
Jim DeMint, INNOVATION AND TECHNOLOGY IN 9780804781633 Cloth $27.95 $22.36 sale
President, The Heritage Foundation THE WORLD ECONOMY
232 pages, 2016 328 pages, 2015
9781503600287 Paper $24.95 $19.96 sale 9781503600669 Paper $29.95 $23.96 sale

BRICS or Bust? Manipulating Globalization THIRD EDITION

Escaping the Middle-Income Trap The Influence of Bureaucrats on The Economic Approach to Law
Hartmut Elsenhans and Business in China Thomas J. Miceli
Salvatore Babones Ling Chen The third edition of this seminal
Economic growth has slowed or Beginning in the 2000s, the Chinese textbook is thoroughly updated to
stalled in Brazil, Russia, India, China,state shifted from attracting foreign include recent cases and the latest
and South Africa. BRICS or Bust? investment to promoting technologi- scholarship, with particular attention
argues that economic catch-up requires cal competitiveness of domestic firms, paid to torts, contracts, property
investment in the productivity of leading local bureaucrats to compete rights, and the economics of crime.
ordinary citizens. Diverging from for resources in government budget, A new chapter organization, ideal for
the popular narrative of increased funding, and tax breaks. While bu- quarter- or semester-long courses,
reaucrats built coalitions to motivate
liberalization, this book argues specifi- strengthens the books focus on uni-
cally for direct government investment businesses to upgrade in some cities, fying themes in the field. As Miceli
in human infrastructure; policies that in others, vested interests within the tells a cohesive, analytical story
increase wages and the bargaining government deprived businesses of about law from a distinctly economic
power of labor; and the strategic use resources and left them in a desperate perspective, exercises and problems
of exchange rates to encourage export- race to the bottom. In Manipulating encourage students to deepen their
led growth. Globalization, Ling Chen argues that knowledge. A companion website
the roots of coalitional variation lie in with a full suite of resources for both
Though strategies like full employment, students and professors is available at
the type of foreign firms with which
mass education, and progressive
local governments forged alliances.
taxation are not especially contro-
Cities that initially attracted large Micelis carefully written text is rich
versial, none of the BRICS have truly
global firms with a significant share with many well-selected examples. It
embraced them. Examining barriers
of exports were more likely to expe- covers the basic areas of lawtorts
to implementation, Elsenhans and (accidents), contracts, crime, property,
rience manipulation from vested
Babones find that the main obstacle to and litigationas well as the subject
interests down the road compared
such reforms is an absence of political of antitrust, and furnishes a valuable
to those that attracted smaller foreign
will, stemming from closely guarded guide to students for further reading.
firms. Chen advances a new theory I know of no better book for its
elite privilege under the current laws.
of economic policies in authoritarian intended audience.
BRICS or Bust? is a short, incisive
regimes and informs debates about
read that underscores the need for Steven Shavell,
the nature of Chinese capitalism. Harvard Law School
demand-driven growth and why it
has yet to be achieved. STUDIES OF THE WALTER H. 448 pages, 2017
9781503600065 Cloth $90.00 $72.00 sale
240 pages, May 2018
128 pages, 2017 9781503604797 Cloth $50.00 $40.00 sale
9780804799898 Paper $12.99 $10.39 sale


SECOND EDITION Reframing Finance Pricing Credit Products
Money Well Spent New Models of Long-Term Robert L. Phillips
A Strategic Plan for Smart Investment Management
Philanthropy In the wake of the 2008 financial
Ashby Monk, Rajiv Sharma, crisis, it became apparent that pricing
Paul Brest and Hal Harvey and Duncan L. Sinclair loans in a way that is profitable for
Philanthropy is a booming business, Beneficiary organizationslike pen- lenders and sensitive to risk is any-
with hundreds of billions of dollars sion funds, sovereign wealth funds, thing but simple. Robert L. Phillips
committed to the social sector each endowments, and foundationsare worked with major banks and financial
year. Money Well Spent, an award- seeking ways to mitigate the risk of services companies for more than a
winning guide on how to structure their investments and make better decade to help them improve their
philanthropy so that it really makes financial decisions. This book argues pricing capabilities. This book draws
a difference, offers a comprehensive that institutional investors would on his experience, as well as the latest
and crucial resource for individual better serve their long-term goals academic research, to demonstrate
donors, foundations, non-profits, by putting money into large-scale, how lenders can apply the proven
and scholars. future-facing projects such as infra- techniques of price optimization, such
structure, green energy, innovation as market segmentation, targeting
Paul Brest and Hal Harvey draw
in agriculture, and real estate devel- customers, and machine learning and
on the experiences of hundreds
opment. Drawing on key contribu- optimization, to responsibly improve
of foundations and non-profits to
tions in economic sociology, social the profitability of their loans. It
explain how to deliver on every
network theory, and economics, the is a go-to resource for academics
dollar. They present the essential
book conceptualizes a collaborative and professionals alike, particularly
tools to help readers create and test
model of investment that is already lenders who are looking for ways to
effective plans for achieving demon-
becoming increasingly common: do better business in an increasingly
strable results. Brest and Harvey
large investors contribute more competitive (and regulated) market.
tackle thorny issues, such as how
to choose among different forms of directly to private market assets, Bob Phillips is the preeminent au-
funding, how to measure progress, while financial intermediaries seek thority on and intellectual father of
to foster co-investment partnerships, price optimization in retail banking.
and when to abandon a project that
better aligning incentives for all. As banks globally are implementing
isnt working. The second edition data-driven approaches to pricing,
accounts for a decade of progress: a Finally, a manifesto for the future this is required reading.
rise in impact investing, the advent of finance that is informed, has
Frank Rohde,
of pay-for-success programs, the vision, and takes seriously what can CEO, Nomis Solutions
maturation of impact evaluation, be accomplished in the long-term.
This book is pathbreaking! 296 pages, June 2018
and the emergence of a new genera- Gordon L. Clark, 9780804787208 Cloth $65.00 $52.00 sale
tion of mega-donors. Oxford University
312 pages, July 2018 216 pages, 2017
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The Power of Economists Organizing Organic Culture and Commerce
within the State Conflict and Compromise in an The Value of Entrepreneurship
Emerging Market in Creative Industries
Johan Christensen
Michael A. Haedicke Mukti Khaire
Market-oriented reforms have been
one of the major political and eco- Tracing the history of the organic Art and business are often described
nomic trends of the late twentieth food sector, Michael A. Haedicke as worlds apart, even diametric
and early twenty-first centuries. Yet charts the development of two opposites. And yet, these realms are
some countries have embraced them competing narratives. Social activists close cousins in creative industries
more than others. To help explain contend that organics can break where firms bring cultural goods
this, Johan Christensen examines up the power of big agribusiness. to market, attaching price tags to
one major influencer: the entrench- Alternatively, professionals who are music, paintings, theater, literature,
ment of U.S.-trained, neoclassical steeped in the culture of business film, and fashion.
economists in political institutions. emphasize the potential of market
Building on theories of value
growth for fostering better behe-
Christensen uses comparative case construction and cultural production,
moths. Independent food store
studies of New Zealand, Ireland, Culture and Commerce details the
owners are then left to reconcile
Norway, and Denmark to show how processes by which artistic worth is
these notions as they hone their
economists affected tax policies. In decoded, translated, and converted
business strategies.
countries where economic experts to economic value. Case studies of
held powerful positions, neoclassical Haedicke looks at how these groups firms from Chanel and Penguin
economics broke through with make sense of their everyday work, to tastemakers like the Sundance
greater force. Drawing on interviews particularly when individuals Institute and the Pritzker Prize
with policy elites, he examines the overcome conflicting narratives by illuminate how creative entrepre-
specific ways in which economists creating new cultural concepts and neurs influence our sense of value,
shaped reforms, relying on an activ- organizational forms. At once an shifting consumer behavior and our
ist approach to policymaking and account of the sectors development culture in deep, surprising ways.
the perceived utility of their science and an analysis of individual choices In this wonderful and intellectually
to drive change. within it, Organizing Organic charts ambitious book, Mukti Khaire re-
A finely tuned and deeply knowl- the organic movements attempt thinks culture at the intersection of
edgeable account of the influence of to negotiate ethical values and economics and sociology. With care-
economists over public policy in four economic productivity. fully instantiated case studies, she
countries. A page-turner on tax policy leavens our understanding of how
Rich with detail and broad insights, art and culture have worked, should
is surely an event to celebrate. this is a marvelous contribution. work, and will work.
Mark Granovetter, Tim Hallett,
Stanford University Rohit Deshpande,
Indiana University
Harvard Business School
232 pages, 2017 240 pages, 2016
9781503600492 Cloth $65.00 $52.00 sale 9780804795906 Cloth $60.00 $48.00 sale 280 pages, 2017
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The Moral Power of Money Financializing Poverty
adoption. A nominal
Morality and Economy in the Labor and Risk in Indian
Life of the Poor Microfinance handling fee applies
Ariel Wilkis Sohini Kar for all physical
copy requests.
Looking beneath the surface of Microfinance is the business of
seemingly ordinary social interac- giving small, collateral-free loans to
tions, The Moral Power of Money poor borrowers that are paid back
investigates the forces of power and in frequent intervals with interest.
morality at play, particularly among While for-profit microfinance
the poor. Drawing on fieldwork in a institutions (MFIs) promise social
slum of Buenos Aires, Ariel Wilkis and economic empowerment, they
argues that money is a critical have mainly succeeded at enfolding
symbol used to negotiate not only the poorespecially womeninto
material possessions, but also the the vast circuits of global finance.
political, economic, class, gender, Financializing Poverty ethnographi-
and generational bonds between cally examines how the emergence
people. Through vivid accounts, he of MFIs has allowed financial
proposes a new concept of moral institutions in the city of Kolkata,
capital based on different kinds, or India, to capitalize on the poverty
pieces, of money. This book builds of its residents. As the network of
an original theory of the moral finance increasingly incorporates
sociology of money, providing the the poor, the inclusive dimensions
tools for understanding the role of microfinance are continuously
money plays in social life today. met with rigid forms of credit risk
This remarkable ethnography opens management that reproduce the
a window into everyday popular very inequality the loans are meant
politics and solidarities, offering to alleviate. Moreover, despite being
lessons beyond the case of Argentina collateral-free loans, the use of
and into peoples moneyworlds and life insurance to manage the high
moral orders more broadly. mortality rates of poor borrowers
Bill Maurer, has led to the collateralization of
author of How Would
You Like To Pay?
life itself.
256 pages, July 2018
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