A distinguished Yale economist and legal scholar’s argument that law, of all things, has the potential to rescue us from the next economic crisis. After the economic crisis of 2008, private-sector spending took nearly a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach whose proven success is too rarely acknowledged. Harking back to New Deal regulatory agencies, Listokin proposes that we take seriously law’s ability to function as a macroeconomic tool, capable of stimulating demand when needed and relieving demand when it threatens to overheat economies. Listokin makes his case by looking at both positive and cautionary examples, going back to the New Deal and including the Keystone Pipeline, the constitutionally fraught bond-buying program unveiled by the European Central Bank at the nadir of the Eurozone crisis, the ongoing Greek crisis, and the experience of U.S. price controls in the 1970s. History has taught us that law is an unwieldy instrument of macroeconomic policy, but Listokin argues that under certain conditions it offers a vital alternative to the monetary and fiscal policy tools that stretch the legitimacy of technocratic central banks near their breaking point while leaving the rest of us waiting and wallowing.

Bsrd A. Andreassen is Professor at the Norwegian Center for Human Rights and Director of Research (human rights and development) at the Law Faculty, University of Oslo. --

The effect on developing countries of the arrival of foreign direct investment (FDI) has been a subject of controversy for decades in the development community. The debate over the relationship between FDI in developing countries and the progress of these countries towards human development is an ongoing and often heated one. Adopting an interdisciplinary perspective combining insights from international investment law, human rights law and economics, this book offers an original contribution to the debate. It explores how improvements ...

In this book Ian Goldin shows how the understanding of how nations escape poverty and achieve economic and social progress has changed as the pendulum has swung from arguments for state-led development to a preoccupation with market forces.

This book provides an in-depth investigation of the link between human capital and economic growth. The authors take an innovative approach, examining the determinants of economic growth through a historical overview of the concept of human capital. The text fosters a deep understanding of the connection between human capital and economic growth through the exploration of different theoretical approaches, a review of the literature, and the application of nonlinear estimation techniques to a comprehensive data set. The authors discuss nonparametric econometric techniques and their application to estimating nonlinearities—which has emerged as one of the most salient features of empirical work in modeling the human capital-growth relationship, and the process of economic growth in general. By delving into the topic from theoretical and empirical standpoints, this book offers an insightful new view that will be extremely useful for scholars, students, and policy makers.

Most law and development books focus on "what went wrong". Eyes on the Prize is an exception: it focuses on "what went right" in Singapore's transformation from squalid colony to successful growth-oriented, capitalist state. It questions the efficacy and nature of the role of law in the forty-year transformation, in the light of traditional and neo-traditional theories of law and development. It has not been the "rule of law" as such that has contributed to Singapore's development. Rather it has been law as the embodiment of "mature policy" of a goal-oriented, politically stable, educated, largely non-corrupt, communitarian and authoritarian state bureaucracy, which was grafted onto the remnants of the previous colonial administrative structures. Dr Carter examines Singapore's economic development in relation to labour law, land law, and intellectual property law, testing these against key aspects of law and development theories. While analyses of the former challenge the law and development convergence theory, that of intellectual property law uncovers the transforming impact of global influences such as the WTO. As such, the book provides a novel and balanced account for the student of law and economic development.

Although deeply contested in many ways, the concept of human dignity has emerged as a key idea in fields such as bioethics and human rights. It has been largely absent, however, from literature on development studies. The essays contained in The Practice of Human Development and Dignity fill this gap by showing the implications of human dignity for international development theory, policy, and practice. Pushing against ideas of development that privilege the efficiency of systems that accelerate economic growth at the expense of human persons and their agency, the essays in this volume show how development work that lacks sensitivity to human dignity is blind. Instead, genuine development must advance human flourishing and not merely promote economic betterment. At the same time, the essays in this book also demonstrate that human dignity must be assessed in the context of real human experiences and practices. This volume therefore considers the meaning of human dignity inductively in light of development practice, rather than simply providing a theory or philosophy of human dignity in the abstract. It asks not only “what is dignity” but also “how can dignity be done?” Through a unique multidisciplinary dialogue, The Practice of Human Development and Dignity offers a dialectical and systematic examination of human dignity that moves beyond the current impasse in thinking about the theory and practice of human dignity. It will appeal to scholars in the social sciences, philosophy, and legal and development theory, and also to those who work in development around the globe. Contributors: Paolo G. Carozza, Clemens Sedmak, Séverine Deneulin, Simona Beretta, Dominic Burbidge, Matt Bloom, Deirdre Guthrie, Robert A. Dowd, Bruce Wydick, Travis J. Lybbert, Paul Perrin, Martin Schlag, Luigino Bruni, Lorenza Violini, Giada Ragone, Steve Reifenberg, Elizabeth Hlabse, Catherine E. Bolten, Ilaria Schnyder von Wartensee, Tania Groppi, Maria Sophia Aguirre, and Martha Cruz-Zuniga