Routledge Advances in Economic Policy – serie

The main novelty of the Fourth Industrial Revolution is the entry of robots and Artificial Intelligence into the production process. This phenomenon could potentially generate high levels of unemployment, or even full unemployment, and therefore calls for innovative public policies.This book adopts an agnostic position on the size of the future impact of technological progress on employment but proposes a thought experiment built on a full unemployment scenario, which focuses on the consequences that these policies might have for people’s well-being, with particular reference to the provision of a universal Basic Income (UBI). Relying on some of the principles and models of Behavioral and Happiness Economics, it is argued that implementing a UBI that does not change over time may increase well-being inequality. A policy mix that combines a rising basic income with other measures is therefore recommended.This book marks a significant contribution to the literature on economic policy, labor economics, the economics of well-being and happiness, and behavioral economics.

The main novelty of the Fourth Industrial Revolution is the entry of robots and Artificial Intelligence into the production process. This phenomenon could potentially generate high levels of unemployment, or even full unemployment, and therefore calls for innovative public policies.This book adopts an agnostic position on the size of the future impact of technological progress on employment but proposes a thought experiment built on a full unemployment scenario, which focuses on the consequences that these policies might have for people’s well-being, with particular reference to the provision of a universal Basic Income (UBI). Relying on some of the principles and models of Behavioral and Happiness Economics, it is argued that implementing a UBI that does not change over time may increase well-being inequality. A policy mix that combines a rising basic income with other measures is therefore recommended.This book marks a significant contribution to the literature on economic policy, labor economics, the economics of well-being and happiness, and behavioral economics.

Public policies are usually carefully designed to address a particular problem, but they are also shaped and influenced by the sociocultural heritage of a particular country. This volume explores the origins of economic and other public policies in Central and Eastern Europe.This region makes for a particularly interesting case because after going through a major system change – transitioning from a command economy into a market economy – many of the key policies were written anew. The contributors to this book look at key policy areas at the intersection of state and private sectors, including industrial, pension, energy, and competition policies. The chapters examine key questions such as: how did these policies evolve from the time of transition to their final form? What were the main drivers of policy conduct and factors influencing major policy choices? How does the historical context impact contemporary policy space? Throughout the volume, an institutional approach is adopted, according to which policies are perceived as the outcome of top‑down design, filtered through social institutions inherited from the past. With this approach, this book presents a long‑running assessment, over 30 years, of policymaking in transition economies, which were subject to profound changes throughout the period.This book will be of interest to readers in institutional economics, policy studies, transition economies, and the recent history of Eastern Europe.

Public policies are usually carefully designed to address a particular problem, but they are also shaped and influenced by the sociocultural heritage of a particular country. This volume explores the origins of economic and other public policies in Central and Eastern Europe.This region makes for a particularly interesting case because after going through a major system change – transitioning from a command economy into a market economy – many of the key policies were written anew. The contributors to this book look at key policy areas at the intersection of state and private sectors, including industrial, pension, energy, and competition policies. The chapters examine key questions such as: how did these policies evolve from the time of transition to their final form? What were the main drivers of policy conduct and factors influencing major policy choices? How does the historical context impact contemporary policy space? Throughout the volume, an institutional approach is adopted, according to which policies are perceived as the outcome of top‑down design, filtered through social institutions inherited from the past. With this approach, this book presents a long‑running assessment, over 30 years, of policymaking in transition economies, which were subject to profound changes throughout the period.This book will be of interest to readers in institutional economics, policy studies, transition economies, and the recent history of Eastern Europe.

The greatest challenge humanity faces in the 21st century is the climate crisis. A successful green transition towards a sustainable economy requires various policy initiatives, including promoting innovation, financing, and tax incentives for selected activities, cheap credit, and subsidies. To achieve these aims, a massive redistribution of capital will be necessary, requiring cooperation between public and private sectors, the States, and civil society.This book introduces the idea of a “Sustainable Development Convention”. A convention is a form of social production and shared knowledge that establishes collective reality. The Sustainable Development Convention is proposed in opposition to the neoliberal convention, according to which pure market coordination is superior to State coordination. The Sustainable Development Convention intends to effect a radical change in both the mission and actions of the State, developing new economic policy tools and institutions focusing on the green transition. In particular, the transition calls for a complete reordering of financial systems and capital flows, making the actions of development banks ever more critical. Development banks have been essential institutions in promoting public policies worldwide – their credit and other forms of finance and cooperation have been central tools in catching-up processes for developing and emerging economies. In times of structural change, such as the green transition, development banks are required to play a central role.This book marks a significant addition to the literature on development banks, the green transition, the political economy of climate change, and economic and monetary policy.