Author: Biz India

Book Review: A Textbook of Cultural Economics

Author: Ruth Towse Publisher: Cambridge University Press – 600 pages Book Review by: Sonu Chandiram The term ‘cultural economics’ is likely a new one to most readers and if you are one of those who have not come across it before, the simplest definition is that it is the economics of the arts, heritage, and the creative industries. The arts are of several types. Three of the most common ones are: literature, the performing arts, and visuals arts. Heritage refers to what has been inherited and these are typically shown in museums and other historical places. The creative industries...

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Book Review: Financial Markets and Institutions – A European Perspective, 3rd edition

Authors: Jakob de Haan, Sander Osterloo, and Dirk Schoenmaker Publisher: Cambridge University Press – 528 pages Book Review by: Sonu Chandiram Whenever a book goes into its third edition, chances are good that its first two editions were well received. This is also an indication that the previous editions were financially successful for the publisher. It costs a lot of money to print and distribute thousands, or even tens of thousands (or more) copies of books, so typically, additional editions are not produced without good reason. Exceptions to this are religious and scientific books. This most current edition released...

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Book Review: Trade, Investment, Innovation, and Their Impact on Access to Medicines – An Asian Perspective

(This book is part of the Cambridge Series on International Trade and Economic Law) Author: Locknie Hsu Publisher: Cambridge University Press – 459 pages Book Review by: Sonu Chandiram Generally, Asian countries, particularly developing ones, seek to keep prices of locally-developed and manufactured medicines low enough to be affordable to their average local consumer. On the other hand, pharmaceutical companies in developed countries, particularly in the United States and in Europe, need to ensure that prices of medicines they export to Asian countries are at levels that enable them to make a reasonable profit margin as a return on...

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Book Review: The Origins, History and Future of the Federal Reserve

Editors: Michael D. Bordo and William Roberds Publisher: Cambridge University Press – 431 pages Book Review by: Sonu Chandiram In October 1907, the New York Stock Exchange index fell almost 50 percent from its peak in the previous year. This massive and deep plunge was called the Panic of 1907. There were numerous runs on banks and trust companies during the three-week period beginning in mid-October. That this steep drop in stock prices happened during a time of economic recession made it even worse. Runs on the banks depleted their money supplies, and the Panic of 1907 eventually spread...

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Book Review: Unveiling the North Korean Economy – Collapse and Transition

Author: Byung-Yeon Kim Publisher: Cambridge University Press – 329 pages Book Review by: Sonu Chandiram In this book, the author South Korean Professor Byung-Yeon Kim of Seoul National University, writes about North Korea in his Introduction, in a succinct nutshell: “…regardless of scenario, the collapse of the (North Korean) socialist economy and its transition to a market economy appear to be inevitable.” Recent attention on North Korea has grown much in recent months and weeks, with its supreme leader and absolutely powerful dictator Kim Jong-un firing off a spate of test missiles into the Sea of Japan and over...

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