What is democracy? How does it work? What are its strengths - and its shortcomings? Two-thirds of the world's population, in over 100 countries, live under governments that claim to be democratic. Yet few of those governments live up to the ideals of democracy, or respect its key principles and institutions. Here, author Eamonn Butler defines democracy, explains its purposes, and shows the difference between genuine democracy and the many sham versions that currently exist. He outlines the history of democracy and the benefits it brings. But he also points out the many myths about it that blind us to its limitations. And he explains why it's important to have a clear understanding of democracy - and how easily it can be lost or abused when people do not properly understand it. Importantly, he asks why so many people today have become disillusioned with democratic politics - and what, if anything, can be done about it. This lucid and fascinating book provides a straightforward introduction to democracy, enabling anyone to understand it - even if they've never experienced it.

An Introduction to Democracy

Politics & Social Sciences

Butler, Eamonn

Politics & Government

London Publishing Partnership

Why did the West become rich? Was it the product of institutions, culture, and economic policies? Or were foreign expansion, imperialist exploitation and the slave trade the keys to prosperity? In this book, Kristian Niemietz takes the reader beyond the 'Culture War' debates around the legacy of the British Empire, and looks at the economics of imperialism. By examining the empirical work of modern historians of colonialism, as well as the views of contemporary figures ranging from Adam Smith to Karl Marx, Niemietz explores a debate which has raged for three centuries and is only growing more contentious. Drawing on data from various European colonial empires, Niemietz casts doubt on the claim - popular among both 19th-century imperialists and modern-day progressives - that empire was a crucial factor in the West's rise to prosperity. Instead, he shows that - its immorality aside - Western colonialism was simply bad economics. Far from being a story of plunder leading to sustained growth, the story of empire is an all too familiar tale of vested interests using the state to secure private benefits while leaving the taxpayer to foot the bill.

Imperial Measurement: A Cost–Benefit Analysis of Western Colonialism

Business & Money

Niemietz, Kristian

Economics

Unions Resurgent? The Past, Present and Uncertain Future of Trade Unions in Britain

Shackleton, J. R.

This book presents a novel approach to the reform of the world's financial system, starting with the basic question, what is a financial system for? It shows that the existing system has become far more complicated than it needs to be to discharge its functions - and dangerously unstable into the bargain. It proposes some drastic remedies. "The Future of Finance: The LSE Report" is the work of a group of leading academics, financiers, journalists and officials from the UK's Financial Services Authority, the Bank of England and the Treasury. They met twelve times, for what many of those present described as the best and most searching discussions they had ever participated in. The first author is Adair Turner, chair of the Working Party of the G20 Financial Stability Board reporting to the G20 Summit in November 2010; the others are major international players in policymaking or public debate. Reviews "The UK has been at the epicentre of both the financial crisis and the ongoing debate over the future of finance. Here the leading figures in that debate tell us how to think about the process of financial reform. Their thoughts deserve the widest possible audience, not just in Britain but in the United States and globally." Barry Eichengreen ‐ University of California, Berkeley "A preoccupation with public good is what distinguishes this book from others about the crisis. The authors take a broader perspective in exploring new approaches for understanding the functions of banks and financial markets. It is particularly refreshing to see the London School of Economics re‐establishing its traditional leadership in social sciences research oriented towards social welfare advancement." Jean Charles Rochet ‐ University of Zurich and Toulouse School of Economics "As we look forward to the reform of the financial system, there is a need for a more fundamental review of the nature of financial intermediation, its scope and size. This volume is in the best traditions of the LSE in weaving together the perspectives of academics and policymakers to address a topic of great importance. It is a must read for anyone who wishes to delve deeper into the policy issues." Hyun Song Shin ‐ Princeton University

The Future of Finance: The LSE Report

Turner, Adair

Woolley, Paul

Haldane, Dr. Andrew

An Enterprise Map of Ethiopia

Sutton, John

Kellow, Nebil

There can be few everyday financial issues more important than the price of houses. Whether we own one and worry about its value or aspire to own one and are frustrated by their high prices, nobody can avoid the issue. In the UK, while prices have fluctuated during our lifetimes, overall they have risen steadily and sometimes spectacularly. The accepted wisdom is that houses are a safe and excellent investment for the long term. But are they really as good an investment as we believe? Might the future be different from the past? Are houses really so safe? This book looks at house prices over the long term in several countries -- including the UK, the US, France, Holland, Norway, Germany and Australia -- to find out what has happened to house prices and why. The author illustrates his findings with authoritative data on trends and provides intriguing details including a century-long index of UK house prices, an analysis of the value of the White House and a fascinating four-hundred-year story of houses in Amsterdam. - To what extent are we right to view our houses as an investment as well as a home?- If prices can rise for decades and then fall for more than a whole generation, then what does the future hold? - If prices rise further, will houses become unaffordable for many young people? How will that affect our society? - If they crash, will that endanger our banks once more? - Are politicians, policymakers and regulators prepared for the true range of possibilities? Anybody who owns a house, wants to own a house or follows the prices and economics of housing will find this book an accessible, fascinating and door-opening read. Neil Monnery studied at Oxford and Harvard Business School. He worked for many years at The Boston Consulting Group as a Director and Senior Vice President and is now active in business, investing and research.

Safe as Houses?: A Historical Analysis of Property Prices

Monnery, Neil

Since the collapse of the Soviet Union in 1991, Russia has made enormous strides toward creating a free market. In just over twenty years, the country's economy has been completely transformed. Today, most Russian companies have been privatized and the country has developed fully functioning capital markets. Indeed, over the course of the past two decades, the Russian equity market has, on more than one occasion, been the world's best-performing stock market. While the country and its leadership continue to face great structural hurdles that must be overcome, recent progress has been nothing short of remarkable. This book brings together some of the world's most successful Russia-dedicated portfolio managers, economists and market participants to share their personal experiences in this dynamic market. Each of these professionals has a long-term relationship with Russia and has lived as well as worked in Russia: they have many years of experience in the country's financial markets.Indeed, many of the contributors to this book have been active in Russia since the very inception of the market and each is uniquely qualified to offer a personal and authoritative account of Russia's journey toward capitalism. The book is divided into two parts, one giving a more general overview of the market's development and the other focusing on the personal experiences of Russia's capitalist pioneers. Each chapter offers a clear historical description of principal developments, while the personal touch enhances the reader's understanding of how market forces developed, how obstacles were overcome, and how so many market participants have been able to reap great rewards in one of the world's most dynamic emerging markets. The contributors also discuss the road ahead, examining both the positive and the negative factors that will affect the Russian economy in the years ahead.

In From the Cold: The Rise of Russian Capitalism

With the financial crisis continuing after five years, people are questioning why economics failed either to send an adequate early warning ahead of the crisis or to resolve it quickly. The gap between important real-world problems and the workhorse mathematical model-based economics being taught to students has become a chasm. Students continue to be taught as if not much has changed since the crisis, as there is no consensus about how to change the curriculum. Meanwhile, employer discontent with the knowledge and skills of their graduate economist recruits has been growing. This book examines what economists need to bring to their jobs, and the way in which education in universities could be improved to fit graduates better for the real world. It is based on an international conference in February 2012, sponsored by the UK Government Economic Service and the Bank of England, which brought employers and academics together. Three themes emerged: the narrow range of skills and knowledge demonstrated by graduates; the need for reform of the content of the courses they are taught; and the barriers to curriculum reform.While some issues remain unresolved, there was strong agreement on such key issues as the strengthening of economic history, the teaching of inductive as well as deductive reasoning, critical evaluation and communication skills, and a better alignment of lecturers' incentives with the needs of their students.

What's the Use of Economics?: Teaching the Dismal Science After the Crisis

At independence in 1961, Sierra Leone was a severely underdeveloped country. During the celebrations of their fiftieth anniversary, Sierra Leoneans reflected on the fact that they had failed to make much progress in modernizing and developing their country. The per capita annual income of the country was still below $350. Sierra Leoneans made a new commitment to create an environment that would foster rapid economic growth that is sustained and widely beneficial to their own citizens. In brief, they announced a new determination to improve economic governance and economic management. All of the book's contributors are experts in their respective fields and the majority of them also have a deep knowledge of Sierra Leone, its history, the aspirations of its people and the policymaking challenges that the country faces. Many of the chapters address policy reform issues in specific areas: namely, the financial sector, export promotion, technical and vocational education and training, minerals, agriculture and food security, customary land tenure, the justice system as a whole, and the education of women and improvement in their employment prospects.Sierra Leone has been weak in coherent policy formulation and policy implementation. The message of this unique book on the country is that policymakers can greatly improve the country's economic growth prospects by designing and implementing policies over which they have adequate control. What is basically required is for Sierra Leoneans to understand what kinds of policies need to be implemented and then put in place management and governance arrangements that create the capacity to design and fully implement those policies.

Economic Challenges and Policy Issues in Early Twenty-First-Century Sierra Leone

For centuries, many people have been convinced of the healing nature of hot mineral springs. The Romans constructed elaborate bathing facilities throughout their empire to utilise these waters. Immersion was reputed to cure a large variety of illnesses, including such diverse conditions as paralysis, forgetfulness, sciatica and leprosy. The profusion of infirm and disabled visitors seeking relief in the waters attracted an assortment of practitioners and spas became thriving medical marketplaces. By focusing on Britain's premier spa at Bath, this book examines how and why 'taking the waters' was regarded as an efficacious therapy by both patients and practitioners; and how and why Bath's Mineral Water Hospital, one of the earliest voluntary hospitals to be established in the UK, ultimately became a world-renowned centre for the study and treatment of rheumatic diseases. In recent decades, the medical profession has largely forsaken its interest in spas. So is there any scientific evidence that drinking or bathing in hot mineral waters has a therapeutic effect, or is it just a glorified placebo? Read this book and discover the answer, and a great deal more.

Diseased, Douched and Doctored: Thermal Springs, Spa Doctors and Rheumatic Diseases

Rolls, Roger

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