This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.

An account of the rise of the New York penitentiary system at a time when the United States was garnering international acclaim for its penal methods. Beginning with Newgate, an ill-fated institution built in New York City and named after the famous British prison, the author describes the development of such well-known institutions as Auburn Prison and Sing Sing, and ends with the establishment of Clinton Prison at Dannemora. In the process, he analyzes the activities and motives of such penal reformers as Thomas Eddy, the Quaker merchant who was chiefly responsible for the founding of the penitentiary system in New York; Elam Lynds, whose unsparing use of the lash made him one of the most famous wardens in American history; and Eliza W. Farnham, who attempted to base the treatment of convicts upon the pseudoscience of phrenology. The author focuses on the history of the Auburn penal system, the especially harsh and repressive regime of which was copied throughout the world in the nineteenth century.

Old Newgate Road runs through the tobacco fields of northern Connecticut that once drove the local economy. It’s where Cole Callahan spent his youth, in a historic white colonial in which he hasn’t set foot in thirty years—not since he was a teenager, when one night his father murdered his mother in a fit of rage. Now Cole has returned to discover his elderly father, freed from prison, living alone in their old home and succumbing to dementia. Matters grow even more complicated when Cole’s rabble-rousing son Daniel is expelled from high school. So Cole summons Daniel to Connecticut to work in the tobacco fields—Cole’s own job growing up. Forced together, these three generations of men must contend with the sinister history they share—and desperately try to invent a future that isn’t doomed by it.

London 1664. Harry Lytle has just discovered he has a young cousin, Anne Giles. But he's had the pleasure of meeting her for the first time as a corpse. Harry sets out to track down Anne's killer, but he must follow a trail of blood, conspiracy and corruption that takes him to the dark and murky corners of Restoration London.

Contains considerable information on prison reform efforts.