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Archive for the 'Economics' Category

Friday, July 1st, 2016

A Media Roundup for “The Evolution of Money”

The Evolution of Money

“The reason I think we need a new theory of money is because traditional theories either emphasise one side of money only (such as bullionism vs chartalism) or more or less ignore its properties altogether (like mainstream economics). And they take the relationship with number for granted, which I think is a mistake. It is the most obvious feature of money, and in many ways the most important.” — David Orrell

This week, our featured book is The Evolution of Money, by David Orrell and Roman Chlupatý. For our final post of the week, we’ve collected a number of the best articles and interviews by and about David Orrell, Roman Chlupatý, and The Evolution of Money.

First, you can read an adapted excerpt from The Evolution of Money at Evonomics:

Environmental conflict is therefore hardwired into the design of our monetary system—built for funding wars with kings and empires and now, as Klein documents, with the planet (one that, if it continues, the planet will win—it’s bigger). Dazzling us with number, it distracts us from the costs. This, rather than ideology, is why the GDP produced in a city like Beijing is booming, but people are leaving because they can’t breathe the air (and why, a little late, the National Congress of the Communist Party wrote the goal of an “ecological civilization” into its constitution in 2012). Like a toxic algal bloom on a lake, the economy is doing fine, but it is asphyxiating everything around it.

99Bitcoins has a great interview with David Orrell on cryptocurrency:

“The reason I think we need a new theory of money is because traditional theories either emphasise one side of money only (such as bullionism vs chartalism) or more or less ignore its properties altogether (like mainstream economics). And they take the relationship with number for granted, which I think is a mistake. It is the most obvious feature of money, and in many ways the most important.” — David Orrell

Adbusters featured “The True Value of Money,” an article by David Orrell:

A peculiar feature of orthodox economics is that money is treated as an inert medium of exchange, with no special properties of its own. As a result, money is largely excluded from macroeconomic models, which is one reason the financial crisis of 2007/8 was not predicted (it involved money). In many respects, when viewed through the lens of quantum physics, money behaves a lot like matter – and acknowledging that behavior promises to do to economics what quanta did for physics.

(more…)

Thursday, June 30th, 2016

Why Money Is Undermining Our Financial System

The Evolution of Money

“And this is exactly where the current problem lies: central banks – and their peers, commercial banks – still operate in a one-dimensional universe where readiness to spend has been muted. On the one hand, we now have those who have, who are thus trustworthy and who can therefore reach into the honeypot of cheap credit. But these largely own what they want and who instead of spending on things invest – thus the asset bubble and also the increasing gap between rich and poor. On the other, we have those who want to spend but don’t have the means or access to credit.” — Roman Chlupatý

This week, our featured book is The Evolution of Money, by David Orrell and Roman Chlupatý. Today, we are happy to present an interview with Roman Chlupatý from Euronews, in which Chlupatý explains why we live in “a world where one of a few certainties is that while we don’t know when the next [economic] crisis will come, we know for sure that it will.” Watch the video or read the text in full below.

We live in a time of great monetary abnormality. Not only are the European Central Bank and the Bank of Japan prescribing negative interest rates to prop up their failing economies but the Swedish central monetary authority is doing the same – despite the fact that its national economy is growing at a solid rate. And as if this were not enough, the Fed’s Janet Yellen, who was expected to increase rates three to five times this year on her quest for normalcy, has mentioned earlier this year that negative rates in the US – meaning banks charging interest from those depositing money with them – are still a possibility.

What does this mean? Seven and a half years after the so-called crisis broke out with the collapse of investment bank Lehmann Brothers, old recipes and ways of thinking are out of breath. They certainly did help to avert the worst – just imagine what would for instance have happened in the UK if ATMs had stopped giving out cash, a situation that was mere hours away – but they did so at the cost of a 57 trillion dollar-increase in debt, as consultancy McKinsey points out, and at the cost of inflating speculative bubbles all around. (more…)

Wednesday, June 29th, 2016

The Changing Faces of Money

The Evolution of Money

“Indeed, one of the things holding back the adoption of cybercurrencies including bitcoin is that they do not conform with traditional ideas about money. But is the problem with bitcoin, or have our ideas about money failed to keep up with its evolution?” — David Orrell

This week, our featured book is The Evolution of Money, by David Orrell and Roman Chlupatý. In “The Changing Faces of Money,” David Orrell looks at the rise of cybercurrencies and what they can tell us about what money actually is.

The Changing Faces of Money
By David Orrell

The question, “what is money?” is one that never seems to go away. Were medieval bills of exchange money? How about fiat currencies? Its latest manifestation tends to focus on cybercurrencies such as bitcoin – are they as good as regular coins?

To some techno-enthusiasts the answer is a resounding yes, but to many people it is less clear. This skepticism was captured by former Federal Reserve chairman Alan Greenspan, who once told Bloomberg, “I do not understand where the backing of bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it’s a government or an individual.”

Indeed, one of the things holding back the adoption of cybercurrencies including bitcoin is that they do not conform with traditional ideas about money. But is the problem with bitcoin, or have our ideas about money failed to keep up with its evolution? (more…)

Tuesday, June 28th, 2016

The Evolution of Money: Origins

The Evolution of Money

“Money has been one of mankind’s most successful inventions (it is no coincidence that to “coin” means to “invent”). Indeed, it is one of the things that best expresses our humanity.” — David Orrell and Roman Chlupatý

This week, our featured book is The Evolution of Money, by David Orrell and Roman Chlupatý. To start the week’s feature, we are happy to present an excerpt from “Origins,” the first chapter of The Evolution of Money.

Monday, June 27th, 2016

Book Giveaway! The Evolution of Money, by David Orrell and Roman Chlupatý

The Evolution of Money

“Even though money is something we all use every day, talking about it, defining it, and explaining are extremely arcane things to do. The tone is important, and The Evolution of Money goes about its task in a readable, breezy style that does not become glib.” — Paul Vigna, coauthor of The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order

This week, our featured book is The Evolution of Money, by David Orrell and Roman Chlupatý. Throughout the week, we will be featuring content about the book and its authors on our blog as well as on our Twitter feed and our Facebook page.

We are also offering a FREE copy of The Evolution of Money. To enter our book giveaway, simply fill out the form below with your name and preferred mailing address. We will randomly select our winners on Friday, July 1st at 1:00 pm. Good luck, and spread the word!

Friday, May 20th, 2016

“National Income” in the Encyclopaedia Of the Social Sciences

Economic Thought and The Power of a Single Number

“According to Kuznets, the purpose of the economic system was to provide the citizens of a country with goods and services. What was decisive in the recording of national income was the moment at which individuals in the economic cycle achieved their income. Kuznets had a clear and realistic concept: national income had to be thought of in terms of the incomes individuals get, and not as the total value of production.” — Philipp Lepenies

This week, we are featuring two exciting new economics titles: Economic Thought: A Brief History, by Heinz Kurz, and The Power of a Single Number: A Political History of GDP, by Philipp Lepenies. For the final post of the feature, we are happy to present a short excerpt from The Power of a Single Number, in which Lepenies tells the story of how Simon Kuznets got his conception of national income into the 1933 edition of the Encyclopaedia Of The Social Sciences.

“National Income” in the Encyclopaedia Of the Social Sciences (1933)
Philipp Lepenies

It was thanks to his brother that Kuznets—not well known among researchers for his work on national income—was entrusted with the entry for the Encyclopaedia of the Social Sciences. Salomon Kuznets was one of the editor’s closest members of staff, and awarded the contract to Simon, who seized the opportunity to present his view of the topic. His entry presented what was, until then, the most comprehensive methodological and theoretical statement on national income. As opposed to most of the other publications on national income, his was not aimed at an expert audience. It was written in a generally comprehensible way, and made do with few technical details. With this, Kuznets was able to get his views across to a wide audience.

For Kuznets, it was not only income (which could be calculated as consumption, its distribution, and the value of production) that made up the figure national income. He added a fourth category, “income enjoyed,” or the sum total of all subjective feelings, which each individual has in his dual function as producer and consumer. In so doing, Kuznets extended the range of interpretation of national income with a subjective component: the satisfaction resulting from one’s own economic activity. Such feelings, however, were not measurable, so in order to quantify national income, one had to concentrate on the cruder benchmarks of income received and consumed. (more…)

Thursday, May 19th, 2016

The Principle of Effective Demand

Economic Thought and The Power of a Single Number

“Consumption and savings depend first and foremost on the level of national income, but what decides the latter? This is the crucial question. Keynes answered: it is the level of investment demand. Investors, not consumers (alias savers), are the active element in the economic system.” — Heinz Kurz

This week, we are featuring two exciting new economics titles: Economic Thought: A Brief History, by Heinz Kurz, and The Power of a Single Number: A Political History of GDP, by Philipp Lepenies. Today, we are happy to present a short excerpt from Economic Thought, in which Heinz Kurz breaks down John Maynard Keynes’s “principle of effective demand.”

The Principle of Effective Demand
Heinz Kurz

Let us now have a closer look at Keynes’s view that the economic system is typically not fully utilizing its productive resources—it is not “supply-constrained,” as neoclassical economists contend, but “demand-constrained” (except during booms). More specifically, Keynes’s “principle of effective demand” means that there is no reason to assume that aggregate investment demand will always be large enough to employ all of an economy’s productive resources. To see this we must turn to how he determined the two components of private domestic aggregate effective demand—consumption and investment expenditures.

Before doing so, it should be noted that Keynes conceived savings (correctly) as the nondemand of goods and services. The saver keeps a part of his or her money income and does not spend it, that is, does not buy goods. Savings in themselves involve “leakages” in the stream of expenditures and pose the problem of sufficient effective demand. The praise Adam Smith had showered upon the “frugal man” was justified only to the extent to which the saver was at the same time an investor, who spent the saved sums not on consumption goods (food, beverages, clothing, etc.) but instead on investment goods (plant and equipment, raw materials, etc.). In this perspective investments involve “injections” into the stream of expenditures and may compensate for the leakages stemming from savings. (more…)

Wednesday, May 18th, 2016

What It’s All About: A Short Primer on GDP

Economic Thought and The Power of a Single Number

“The success of gross national product and GDP is based on the fact that, with them, politicians were from the outset able to pursue a whole array of goals beyond just documenting economic processes.’” — Philipp Lepenies

This week, we are featuring two exciting new economics titles: Economic Thought: A Brief History, by Heinz Kurz, and The Power of a Single Number: A Political History of GDP, by Philipp Lepenies. Today, we have excerpted “What It’s All About: A Short Primer on GDP,” in which Lepenies quickly summarizes what exactly GDP (and GNP) are, and previews the ways that this “statistical construct became a matter of politics.”

Tuesday, May 17th, 2016

Introducing “Economic Thought”

Economic Thought and The Power of a Single Number

“Does this mean that economics preserves everything that is correct and valuable and disposes of everything that is wrong and misleading? Is the market for economic ideas a perfectly functioning selection mechanism? Unfortunately, the answer is no.’” — Heinz Kurz

This week, we are featuring two exciting new economics titles: Economic Thought: A Brief History, by Heinz Kurz, and The Power of a Single Number: A Political History of GDP, by Philipp Lepenies. Today, we are happy to present Heinz Kurz’s introduction to Economic Thought, in which he lays out his project (“A history of economic thought in some 200 pages? Impossible!”), and explains why understanding how our views of economics have changed over time is crucial in informing our current views of the economy and how it works.

Monday, May 16th, 2016

Book Giveaway! “Economic Thought” and “The Power of a Single Number”

Economic Thought and The Power of a Single Number

On Economic Thought: “An enjoyable and well-organized history of economic thought, which will attract many readers to this highly readable treatise on the ‘dismal science.’” — Amartya Sen, Harvard University

On The Power of a Single Number: “The Power of a Single Number is beautifully written and easily accessible to anyone who wants to know more about what lies behind the world’s most powerful number.” — Robert H. Wade

This week, we are featuring two exciting new economics titles: Economic Thought: A Brief History, by Heinz Kurz, and The Power of a Single Number: A Political History of GDP, by Philipp Lepenies. Throughout the week, we will be featuring content about both books and their authors on our blog as well as on our Twitter feed and our Facebook page.

We are also offering a FREE copy of both Economic Thought and The Power of a Single Number. To enter our book giveaway, simply fill out the form below with your name and preferred mailing address. We will randomly select our winners on Friday, May 20th at 1:00 pm. Good luck, and spread the word!

Tuesday, December 1st, 2015

RMB Inclusion into SDR: Hyperbole and Reality

The China Boom

The following is a guest post by Ho-fung Hung, author of The China Boom: Why China Will Not Rule the World:

RMB Inclusion into SDR: Hyperbole and Reality
By Ho-fung Hung

As widely expected, IMF decided on Monday to accept RMB, the Chinese currency, into the currency basket that made up its Special Drawing Rights (SDR), rendering the RMB the fifth currency in the basket after USD, euro, British pound, and Japanese yen. Predictably, many will hail the inclusion as a triumph of China’s global financial power, even though they might never hear of SDR until last month and still don’t know what SDR exactly is. If we put RMB’s inclusion in the SDR in its proper historical and global context, we would find that such inclusion does not actually mean much to the Chinese and world economy in the long run. It may even bring some immediate troubles to China’s slowing economy.

The Rise, Fall, and Brief Revival of SDR

IMF created the SDR in 1969 to solve the problem of the inadequacy of hard currencies, such as US dollar and gold, necessary to maintain the Bretton Woods monetary order. Such order was constructed in the Bretton Woods Conference of 1944 and was anchored on the gold convertibility of USD under 1 ounce of gold to 35 USD rate, as well as fixed exchange rates of major currencies with the USD. To warrant the stability of this order, central banks of major capitalist countries needed to accumulate sizeable foreign exchange reserves so that they could intervene to protect their currencies’ peg with the USD at times of currency crisis. The rapid expansion of the world economy in the 1960s fomented a shortfall of USD and gold that jeopardized the stability of the Bretton Woods order. The invention of the SDR is an IMF attempt to tackle such shortfall. (more…)

Wednesday, October 28th, 2015

International Climate Negotiations

Green Capital

“Over the years, the agendas for climate conferences have tackled new issues, even though the negotiations may have been at a standstill or even backsliding in terms of coordinating actions to reduce greenhouse gas emissions. New topics, such as climate change adaptation, the transfer of low-carbon technology, and innovative financial mechanisms, have been introduced through ad hoc working groups without really opening up new perspectives. The march toward increased cooperation in reducing emissions will be facilitated if these general categories are linked to specific questions that participants have raised, by suggesting they join concrete action programs to come up with solutions.” — de Perthuis and Jouvet

This week, our featured book is Green Capital: A New Perspective on Growth, by Christian de Perthuis and Pierre-André Jouvet, translated by Michael Westlake. The 2015 United Nations Climate Change Conference will be held in Paris from November 30 to December 11 of this year. De Perthuis and Jouvet look back at the complicated history of international climate negotiations and try to outline the contours of the “ideal” future climate agreement in the thirteenth chapter of their book, which we have excerpted here.

Don’t forget to enter our book giveaway for a chance to win a free copy of Green Capital!

Tuesday, October 27th, 2015

Introducing Green Capital

Green Capital

“Despite the supportive discourse of international organizations like the OECD and the World Bank, which has lent credibility to the idea of “green growth,” these new environmental concerns remain on the periphery of political and economic decision making. Worse, following the deep recession of 2008–2009, the outlook of decision makers has shortened: what counts now is a rapid return to growth and the reduction of unemployment. As for the color of growth, they seem to say, we’ll think about that later!” — de Perthuis and Jouvet

This week, our featured book is Green Capital: A New Perspective on Growth, by Christian de Perthuis and Pierre-André Jouvet, translated by Michael Westlake. Today, we are happy to present the introduction to Green Capital, in which de Perthuis and Jouvet explain the necessity and possibility of including and prioritizing climate policy in larger policy discussions, as well as giving a quick run-through of the topics that their book covers.

Don’t forget to enter our book giveaway for a chance to win a free copy of Green Capital!

Monday, October 26th, 2015

Book Giveaway! Green Capital: A New Perspective on Growth

Green Capital

Green Capital takes us on a salutary journey through biodiversity, water shortages, the energy transition, and much more to stress the importance of ‘natural capital.’ The book provides an accessible discussion of the economic value of the environment and of the tragedy of the commons, and it explains why, despite our reluctance to employ them, price signals are necessary to create the right incentives. A call for greater environmental awareness and more common sense, Green Capital is a must-read for all those interested in environmental policy issues.” — Jean Tirole, Toulouse School of Economics and Nobel Laureate in Economics

This week, our featured book is Green Capital: A New Perspective on Growth, by Christian de Perthuis and Pierre-André Jouvet, translated by Michael Westlake. Throughout the week, we will be featuring content about the book and its authors on our blog as well as on our Twitter feed and our Facebook page.

We are also offering a FREE copy of Green Capital. To enter our book giveaway, simply fill out the form below with your name and preferred mailing address. We will randomly select our winners on Wednesday, October 28th at 5:00 pm. Good luck, and spread the word!

Monday, August 24th, 2015

The Economic Risks of Climate Change

In the following segment from The Leonard Lopate Show, Michael Oppenheimer and Geoffrey Heal, two contributors to Economic Risks of Climate Change: An American Prospectus, discuss their econometric research on human responses to climate, and explain private sector risk-assessment tools:

Economic Risks of Climate Change

Thursday, July 9th, 2015

Thursday Fiction Corner: Henry George and Leo Tolstoy

A Portrait of Henry George, Owned by Leo Tolstoy

Welcome to the Columbia University Press Thursday Fiction Corner! This week, in honor of our new series of Russian literature in translation, the Russian Library, editorial intern Beatrice Collison has delved into the fascinating connections between Leo Tolstoy and the subject of a recent Columbia UP book: Henry George.

Henry George and Leo Tolstoy
By Beatrice Collison

Last month’s feature on the book Henry George and the Crisis of Inequality: Progress and Poverty in the Gilded Age, by Edward T. O’Donnell, emphasized the similarities between contemporary America and that of the “Gilded Age” of the late 19th century, an era marked by rapid progress at the same time as crippling poverty. In 1879, Henry George’s bestselling book Progress and Poverty called out this inequality as unjust, and went on to propose a solution. As 21st century America continues to face many of the same problems as the “Gilded Age,” some scholars and biographers find themselves looking back to Progress and Poverty and to its author for lessons, or even answers. As O’Donnell urges us to reexamine George, perhaps it is fitting to consider other great thinkers of that era, who dealt with persisting questions about inequality, individualism, and laissez-faire government, to name a few. Besides George, there are many American names of that age that come to mind, from Mark Twain (who coined the term “gilded age”) to John D. Rockefeller. As we were reminded earlier this month during a visit to Russia to promote our new series of Russian translations, another, somewhat unexpected name comes up in conjunction with George; this would be Leo Tolstoy, who owned a portrait of George. He also happened to be one of George’s most devoted supporters and admirers—and the admiration was mutual.

It is not too difficult to see some basic similarities in both men’s lives and experiences that may have contributed to this reciprocal fondness. Though they lived through the “Gilded Age” in different countries—George in the US, and Tolstoy in Russia—both George and Tolstoy were highly attuned to similar forms of social and economic inequality in their respective societies; the same hypocrisy appeared to them, though different events. George lived through some of the United States’ greatest feats of the century (the unveiling of the Statue of Liberty, the completion of the Atlantic Cable, and the opening of the Brooklyn Bridge, for instance), but also saw the extreme poverty that lay just beneath the surface, a poverty that the privileged attempted to justify by arguments ranging from religious to scientific (social Darwinism comes to mind). Tolstoy lived through similar times of inequality, including many years of political, economic, and social unrest in Russia. He was alive when serfdom was still legal, as well as when it was outlawed—though many of the same injustices persisted even after the emancipation of serfs in 1861. Tolstoy in fact writes about George’s political philosophy in relation to the politics and immorality of serfdom. Clearly, he believed that Russia experienced many similar problems to the US, and that George’s philosophy could be useful not just to Americans. (more…)

Tuesday, June 16th, 2015

Why Henry George Matters in This Second Gilded Age — Edward T. O’Donnell

Henry George and the Crisis of Inequality

The following post is by Edward T. O’Donnell, author of Henry George and the Crisis of Inequality: Progress and Poverty in the Gilded Age:

What value does the story of Henry George, a self-taught economist from the late nineteenth century, hold for Americans living in the early 21st century? Quite a lot, if we stop to consider the ways in which contemporary American society has come to resemble America in the late-nineteenth century, a period popularly known as the Gilded Age. As in our times, that era was marked by a dramatic increase in income inequality. It also witnessed a sharp and disturbing rise in the numbers of Americans living in poverty, even as Wall Street boomed and overall productivity soared. The Gilded Age was also marked by a surge in the size and power—and political influence—of large corporations and banks. And the politics of late-nineteenth century American society were characterized by extreme partisanship and paralysis. Indeed, the parallels between then and now are so striking that many contemporary progressive reformers, activists, and commentators have taken to referring to the era in which we now live as the Second Gilded Age.

If we are indeed living in a Second Gilded Age, then we can gain important insights into potential solutions to our economic, social, and political problems by taking a close look at the first Gilded Age. In particular, it is instructive to examine the people who emerged in this period to demand reforms—many of which were enacted in the subsequent Progressive Era. Henry George was one of these figures and he gained an enormous following among a wide cross section of American society.

George was a little-known journalist living in California in the 1870s when, moved by the aforementioned troubling trends of the Gilded Age, he began to study economics and history with an eye toward writing a book. The result of this effort was a book published in 1879 titled Progress and Poverty. The book is still in print and available in many languages. As its title suggests, George focused on a vexing question: why amidst so much material and technological progress was poverty increasing? This was, George warned, “the riddle which the Sphinx of Fate puts to our civilization, and which not to answer is to be destroyed.”

The book became a best seller and launched George as one of the era’s best-known and most influential reformers. The solution George proposed—a “single-tax” on land values—appealed to some of his followers. But far more were drawn to and inspired by the broad claims he made regarding American’s republican heritage and values. And here we see where George speaks to the concerns of our age.

(more…)

Friday, April 10th, 2015

The Greening of Asia: Businesses’ Role in the World’s Biggest-Ever Environmental Clean-Up

The Greening of Asia

“The best way to move forward is in a three-way partnership, where government sets clear and forceful policies, business creates and invests in products and services to help clean up the environmental mess and civil society acts as an arbiter to see that governments and businesses do what they say.” — Mark L. Clifford

This week our featured book is The Greening of Asia: The Business Case for Solving Asia’s Environmental Emergency, by Mark L. Clifford. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page. Today, in the final day of the week’s feature, we are happy to present an excerpt from an article written by Mark Clifford in The World Financial Review in which he discusses how “[t]he challenge of improving Asia’s environment has been translated into business opportunities.”

The Greening of Asia: Businesses’ Role in the World’s Biggest-Ever Environmental Clean-Up
Mark L. Clifford

The East is Black. That, at least, is the conventional wisdom of anyone who has seen pictures of Beijing’s shrouded skies, India’s fetid rivers and the steel mills and cement kilns which blanket much of the countryside with a pall of smog.

Sadly, this dystopian image of Asia’s environmental misery is all too accurate. In China alone, 1.2 million people a year die prematurely from air pollution. Skies in some Indian cities are even dirtier. Large parts of the region are in danger of running out of clean water. Clusters of cancer villages testify to the human cost of fast economic development.

If this sounds like an environmental nightmare, it is. Asia is home to 4.3 billion people, six out of every ten people in the world, as well as to some of the fastest-growing economies. What’s been good for economic growth has come at a high cost for the environment.

Asia’s strategy seemed to be summed up as “get dirty, get rich, get clean.” (more…)

Thursday, April 9th, 2015

Mark Clifford discusses how companies are confronting environmental emergencies in Asia

The Greening of Asia

This week our featured book is The Greening of Asia: The Business Case for Solving Asia’s Environmental Emergency, by Mark L. Clifford. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page. In the video from ChinaFile below, Clifford discusses the many and varied responses of companies throughout Asia to the region’s environmental crises.

The Greening of Asia from ChinaFile on Vimeo.

Wednesday, April 8th, 2015

From Black to Green: Asia’s Challenge

The Greening of Asia

“Just as Asia’s developed economies in Japan, Korea, Taiwan, Hong Kong, and Singapore adjusted to higher wages by improving productivity and relying on better education and more innovation, so Asia will find a way to profitably do more with less in an era of resource constraints.” — Mark Clifford

This week our featured book is The Greening of Asia: The Business Case for Solving Asia’s Environmental Emergency, by Mark L. Clifford. Throughout the week, we will be featuring content about the book and its author on our blog as well as on our Twitter feed and our Facebook page. In Mark Clifford’s conclusion, excerpted below, he gives a quick overview of how various countries, cities, and businesses in Asia are responding to environmental challenges, and argues that “Asia will find a way to profitably do more with less in an era of resource constraints.”