Measuring Capital in the New Economy

Measuring Capital in the New Economy PDF

Author: Carol Corrado

Publisher: University of Chicago Press

Published: 2009-02-15

Total Pages: 602

ISBN-13: 0226116174

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As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.

Leveraged

Leveraged PDF

Author: Moritz Schularick

Publisher: University of Chicago Press

Published: 2022-12-13

Total Pages: 318

ISBN-13: 022681694X

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An authoritative guide to the new economics of our crisis-filled century. Published in collaboration with the Institute for New Economic Thinking. The 2008 financial crisis was a seismic event that laid bare how financial institutions’ instabilities can have devastating effects on societies and economies. COVID-19 brought similar financial devastation at the beginning of 2020 and once more massive interventions by central banks were needed to heed off the collapse of the financial system. All of which begs the question: why is our financial system so fragile and vulnerable that it needs government support so often? For a generation of economists who have risen to prominence since 2008, these events have defined not only how they view financial instability, but financial markets more broadly. Leveraged brings together these voices to take stock of what we have learned about the costs and causes of financial fragility and to offer a new canonical framework for understanding it. Their message: the origins of financial instability in modern economies run deeper than the technical debates around banking regulation, countercyclical capital buffers, or living wills for financial institutions. Leveraged offers a fundamentally new picture of how financial institutions and societies coexist, for better or worse. The essays here mark a new starting point for research in financial economics. As we muddle through the effects of a second financial crisis in this young century, Leveraged provides a road map and a research agenda for the future.

After the New Economy

After the New Economy PDF

Author: Doug Henwood

Publisher:

Published: 2004

Total Pages: 269

ISBN-13: 9781920769185

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Rarely a day went by in the dizzy 1990s without some will-paid pundit heralding the triumphant arrival of a New Economy. According to these financial mavens, an unprecedented technological and organisational revolution had extinguished the threat of recession forever. Though much of the rhetoric sounds ridiculous today, few analysts have explored how the New Economy moment emerged from deep within America's economic and ideological machinery - instead, they've preferred to treat it as an episode of mass delusion. Now, with customary irreverence and acuity, journalist Doug Henwood dissects the New Economy, arguing that the delirious optimism was actually a manic set of variations on ancient themes, all promoted from the highest of places. Claims of New Eras have plenty of historical precedents; in this latest act, our modern mythmakers held that technology would overturn hierarchies, democratising information and finance and leading inexorably to a virtual social revolution. But, as Henwood vividly demonstrates, the gap between rich and poor has never been so wide, wealth never so concentrated. lessthan-lustrous reality beneath the gloss of the 1990s boom.

The Founders and Finance

The Founders and Finance PDF

Author: Thomas K. McCraw

Publisher: Harvard University Press

Published: 2012-10-08

Total Pages: 561

ISBN-13: 0674071352

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In 1776 the United States government started out on a shoestring and quickly went bankrupt fighting its War of Independence against Britain. At the war’s end, the national government owed tremendous sums to foreign creditors and its own citizens. But lacking the power to tax, it had no means to repay them. The Founders and Finance is the first book to tell the story of how foreign-born financial specialists—immigrants—solved the fiscal crisis and set the United States on a path to long-term economic success. Pulitzer Prize–winning author Thomas K. McCraw analyzes the skills and worldliness of Alexander Hamilton (from the Danish Virgin Islands), Albert Gallatin (from the Republic of Geneva), and other immigrant founders who guided the nation to prosperity. Their expertise with liquid capital far exceeded that of native-born plantation owners Washington, Jefferson, and Madison, who well understood the management of land and slaves but had only a vague knowledge of financial instruments—currencies, stocks, and bonds. The very rootlessness of America’s immigrant leaders gave them a better understanding of money, credit, and banks, and the way each could be made to serve the public good. The remarkable financial innovations designed by Hamilton, Gallatin, and other immigrants enabled the United States to control its debts, to pay for the Louisiana Purchase of 1803, and—barely—to fight the War of 1812, which preserved the nation’s hard-won independence from Britain.

Building the New Economy

Building the New Economy PDF

Author: Alex Pentland

Publisher: MIT Press

Published: 2021-10-12

Total Pages: 475

ISBN-13: 026254315X

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How to empower people and communities with user-centric data ownership, transparent and accountable algorithms, and secure digital transaction systems. Data is now central to the economy, government, and health systems—so why are data and the AI systems that interpret the data in the hands of so few people? Building the New Economy calls for us to reinvent the ways that data and artificial intelligence are used in civic and government systems. Arguing that we need to think about data as a new type of capital, the authors show that the use of data trusts and distributed ledgers can empower people and communities with user-centric data ownership, transparent and accountable algorithms, machine learning fairness principles and methodologies, and secure digital transaction systems. It’s well known that social media generate disinformation and that mobile phone tracking apps threaten privacy. But these same technologies may also enable the creation of more agile systems in which power and decision-making are distributed among stakeholders rather than concentrated in a few hands. Offering both big ideas and detailed blueprints, the authors describe such key building blocks as data cooperatives, tokenized funding mechanisms, and tradecoin architecture. They also discuss technical issues, including how to build an ecosystem of trusted data, the implementation of digital currencies, and interoperability, and consider the evolution of computational law systems.

Real Estate Finance in the New Economy

Real Estate Finance in the New Economy PDF

Author: Piyush Tiwari

Publisher: John Wiley & Sons

Published: 2014-01-29

Total Pages: 288

ISBN-13: 1118836626

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The financial deregulation of the last quarter century has meantlarge flows of funds around the world seeking the highestrisk-adjusted return for investors. Real estate is now establishedas an important asset class and advances in information technologyprovide the necessary tools to complement global developments inreal estate finance and investment. A variety of investment vehicles have emerged, andReal EstateFinance in the New Economy examines these along withfinancing and risk in the context of globalization, deregulationand an increasingly integrated international world economy byexploring questions like: How have real estate financial structures evolved as economiesgrow and become internationalised? What role do economic change and financial systems play in thedevelopment of real estate investment? Are the risks associated with the ‘new economy’really new? What is the future direction for real estate financing? The authors develop an economic framework for discussions onindividual financial products to examine how real estate financialstructures change with economic growth and internationalisation andalso to show how developments in real estate finance impacteconomic growth.

Finance Markets, the New Economy and Growth

Finance Markets, the New Economy and Growth PDF

Author: Luigi Paganetto

Publisher: Routledge

Published: 2017-11-30

Total Pages: 196

ISBN-13: 1351158279

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The existence of significant differences in the organization of the US and European financial markets prompts a number of important questions. Firstly, is it possible to determine the type of institutions that are more conducive to growth? Secondly, did the financial markets play a key role in securing the growth and prosperity of the US during the 1990s? A third issue is the effect of the recent changes in the organization of the financial markets. The last issue addressed relates to the effects on investment and growth of the different corporate governance structures that prevail in the various countries. By exploring the differences between the financial markets in the US and Europe this book helps the reader assess the role of financial markets in securing investment and growth.

Financing Economic Development in the 21st Century

Financing Economic Development in the 21st Century PDF

Author: Sammis B. White

Publisher: Routledge

Published: 2014-12-18

Total Pages: 375

ISBN-13: 1317470508

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The fully revised new edition of this textbook presents a well-balanced set of economic development financing tools and techniques focused on our current times of economic austerity. While traditional public sector techniques are evaluated and refocused, this volume emphasizes the role of the private sector and the increasing need to bring together different techniques and sources to create a workable financial development package. The chapters address critical assessments of various methods as well as practical advice on how to implement these techniques. New chapters on entrepreneurship, the changing nature of the community banking system, and the increasing need for partnerships provides critical insights into the ever-evolving practice of economic development finance.

The New Economy and Economic Growth in Europe and the US

The New Economy and Economic Growth in Europe and the US PDF

Author: David B. Audretsch

Publisher: Springer Science & Business Media

Published: 2002-04-10

Total Pages: 370

ISBN-13: 9783540431794

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There are many issues relating to the new economy in Europe and the USA that are unexplored. Here, the authors present innovative theoretical and empirical analysis on Internet dynamics, productivity growth and organizational changes in selected OECD countries. New empirical findings related to telecommunications, Internet and growth also are presented. Based on the theoretical and empirical analyses, various policy options are developed. Policy measures, both at the regional and national levels, can stimulate structural change, knowledge diffusion and economic growth. Different governance strategies for the Internet and e-commerce are identified from a global perspective.