This book is the outcome of a workshop at Michigan State University on the career of A. Allan Schmid offering a collection of original essays that explore several approaches to understanding the impact of alternative legal-economic institutions.

The book's objective is to explore the challenge of thinking methodically - in a theoretically and empirically informed way - about alternative forms of capitalism. What are the most effective ways to conceptualize the existing models of capitalism that have captured the public imagination and are currently floating around in the public debate? How can one mobilize empirical analysis and theory in thinking about the realm of possibilities and about the future of economic order, but avoid the twin perils of scientism and historicism? This book is an attempt to respond to these and related challenges. First, it delves into the substantive aspect of the debate, taking a closer look at a set of particular forms and models of capitalism that are currently discussed both in mass media and in academic circles as plausible, or at least possible, alternatives to the status quo: Crony, State, Regulatory, and Entrepreneurial Capitalisms. By elaborating and clarifying those models, it engages in a heuristic exercise that leads to a better understanding of the task of conceptualizing and assessing, in a theoretically informed way, the diversity of forms of capitalism. Second, the book takes a step further, looking at the epistemic, theoretical and methodological dimensions of the discussion: What is involved, more precisely, in our classifying and theorizing of capitalist systems and their historical evolution? What is the epistemic basis for building plausible conjectures about the future evolution of an economic system? What are the logical and methodological parameters of our endeavors that deal with economic systems, or with the problem of continuity and change in comparative economic systems? Offering an original approach to the problem of alternative forms of capitalism, this book will be of great interest to scholars working in the field of comparative political economy.

Describing and analyzing the links between monetary policy and economic governance in small countries in both Western and Eastern Europe, this interdisciplinary volume demonstrates how interest groups shape monetary policy decisions in increasingly globalized financial markets. The contributors' findings hold great relevance even for large contries like the United States, which are now struggling with the challenges of internationalization. A diverse group of political scientists and economists, the contributors contend that although the small states have limited options, they are nonetheless able to make choices that enable their export industries to flourish in an environment of increasing internationalization. The authors conclude that lack of control over the future shape of monetary union in Europe is not inimical to future prosperity.

Political instability has characterised the modern history of Iraq, which has proven itself as a complex state to govern. However, the creation of a federal system in 2005 offers the potential for change and a deviation from a past characterised by authoritarian government, brutality and war. The Iraqi Federation explores why and how Iraq became a federal state, and analyses how the process of formation impacts on the operation of the Iraqi federal system. It argues that the different approaches taken by various federal theorists in the past, particularly William H. Riker’s bargain theory, are insufficient to explain the formation of the Iraqi federation completely. The process of the establishment of a federal Iraq must be understood in the context of its unique history and cultural specificity, as well as in the context of the other new federal models that have appeared since the end of the Cold War, including Belgium, the Russian Federation, Ethiopia, Bosnia and Herzegovina and Nigeria. Drawing on interviews with contemporary political players in Iraq, this book helps to deepen our understanding of how one of the newest federal states operates in a practical sense. By linking the new federal models to the classic federal theory, it also provides a unique contribution to theories on federal state formation. It will therefore be of great interest to students and scholars of Middle East Politics, as well as those studying Federalism.

Debate over the important concept of externality has influenced our perception of the role of governing authorities and has become central to our appraisal of the ecology-economy connection. Despite this, it remains hazy as a concept. This book examines ideas of externality and some of the ways that these have influenced and should continue to influence economics. The difficult issue of defining or characterising externalities is tackled and the effect that externality theory has had on major economic issues is investigated. The author provides a distinctive and non-technical survey of the various methodological approaches taken by economists to the issue of externalities. He fully explains and analyses the ideas lying behind the theory and looks at the failure of some markets to reconcile individual and social costs and benefits. The book's major theme is an exploration of institutional inefficiency and the implications of incorporating organizational costs into economic models.

A collection of articles that includes both refereed articles and review essays of books in the history of economic thought and methodology. It highlights research the historiography and methodology of the English Poor Laws, behavioural economics, and the socialist calculation debate; as well as AD Roy and portfolio theory.

Papers presented at the National Seminar on New Developmental Paradigms and Challenges in Western and Central India, held at Ahmedabad in 2003.