This chapter details the vital role of Indigenous trade and investment in promoting sustainable development. Firstly, it discusses the prerequisite for Indigenous trade, emphasizing a nation-building approach centred on the significance of robust tribal infrastructure. The chapter then addresses the barriers hindering Indigenous inter-tribal trade, including state, or provincial interference in tribal jurisdiction, poor tribal governance, Canada’s failure to honour its Jay Treaty obligations, the lack of Indigenous foreign trade zones, the exclusion of Indigenous traditional knowledge (TK) from intellectual property (IP) regimes, and historical challenges in trade financing. Additionally, the chapter explores Indigenous trade and commerce engagements with non-Indigenous enterprises, both with and without federal permission, highlighting the implications, challenges, and opportunities involved. By examining these aspects, the chapter advocates for empowering Indigenous nations through trade and investment, fostering economic opportunities while preserving cultural heritage, and working towards sustainable development by creating a strong economic baseline.

This chapter explores the structure–culture–agency interplay in the English language learning context of Cancun, Mexico. The body of empirical data is analysed through CR-grounded linguistic ethnography. Of specific interest are three Mexican students’ reflexive deliberations and strategies to position themselves in relation to the English language, its symbolic and economic value, and to broader structural and cultural forces, in the fulfilment of their goals. Analysis of the findings reveals the powerful influence of social class distribution partly based on ethnicity, and the role of language learner reflexivity in the adoption of diverse approaches to English language learning. The study of reflexivity in this chapter shows how agentive processes lead to different degrees of investment and successes, including resistance to and acceptance of the necessity for English in relation to Cancun’s social and economic context. Analysis also reveals English as the language of the dominant yet not fully accepted North American culture, and how it is seen a paramount tool in the fulfilment of personal and communal projects in the context of Cancun.

This chapter explores the emergence of Inter-Asian Law (IAL) through the lens of multilayered investment agreements. It argues that the Association of Southeast Asian Nations (ASEAN)-centered regime has driven the normative evolution of IAL, which has diverged from Western approaches rooted in the Washington Consensus. The study examines how Asian countries are developing their own legal models, reducing dependence on American and European rules, and strengthening Asia’s influence in shaping international law. Focusing on investment law, the chapter highlights the pragmatic incrementalism of ASEAN and the Regional Comprehensive Economic Partnership in legal approaches. It analyzes the development of investment issues across three waves of global regionalism, as well as the evolving investment frameworks of the Asia-Pacific. Hence, the research demonstrates how IAL reflects Asian approaches to global governance and offers alternatives to conventional Western-dominated models for developing countries.

The proponents of the ‘convenient solution’ discussed in Chapter 3 see the cost of climate action as one of government investment in new infrastructure. However, as there is not time for this to scale sufficiently, we must think differently about cost. Voluntarily restraining ourselves from emitting activities may save us money, but in most cases at present, purchasing equipment compatible with zero emissions costs more than the emitting alternative. Eventually, governments will legislate to ban emissions, by which time we will only compare the costs of different emissions-free alternatives. On the journey to that point, governments can aim to help us change by subsidising zero-emissions projects or taxing emitting activities. Carbon pricing has proved to be politically impossible, due to competition in trade and the high costs it would place on householders. Instead, we can all re-think the timescale of our purchasing decisions and recognise that paying for the higher costs of emissions-free options today is in reality an investment in the future, like a pension or savings account, aiming to avoid the far worse costs of a global war over food.

In an age where change accelerates at an exponential pace, the world is grappling with a unique and volatile set of challenges. Mohamed El-Erian, the foreword author of our first publication (Reimagining Philanthropy in the Global South: From Analysis to Action in a Post-COVID World), uses the term “permacrisis” to describe the compounding issues of climate change, geopolitical instability, and technological disruption that now dominate the global landscape. These crises have revealed the fragility of systems once deemed resilient, highlighting the urgent need for transformative financing approaches to support sustainable development and achieve lasting systemic change in an ever-evolving world. This book explores the promise of catalytic capital and the emerging dynamics of development finance in this new global landscape.

This chapter offers a comprehensive overview of China’s economic transformation over the past four decades. It traces the dramatic growth in China’s GDP – from a modest base in 1990 to a global powerhouse in 2023 – and examines the contributions of capital, labor, and productivity. The chapter juxtaposes optimistic and cautious expert forecasts, highlighting challenges such as a structural slowdown, decelerating productivity, and the risks of excessive investment in real estate. It also explores the evolving dynamics of state control, the impact of global trade shifts, and the role of innovation and industrial policy in shaping future growth. Additionally, the analysis delves into demographic trends, particularly the implications of the “demographic dividend” turning into a deficit and the complexities of forecasting in a rapidly changing economic environment. Overall, the chapter sets the stage for a broader discussion on the policy reforms and strategic shifts necessary for sustaining China’s long-term economic progress.

This chapter investigates the strategic investments by Saudi Arabia, Qatar, and the UAE toward non-hydrocarbon-based energy sources. This move marks a critical juncture in the region’s energy policy landscape. Driven by a multifaceted agenda – reducing reliance on hydrocarbons, mitigating carbon emissions, and fostering a more diversified and industrially productive economy – the Gulf states are actively pursuing renewable and nuclear energy solutions. Their path, however, is fraught with obstacles, and this chapter critically examines the institutional barriers with the potential to significantly impede their progress.

This final chapter ties together the lessons gleaned from the preceding analyses of statutory and contractual reversion models to present broad principles for lawmakers to apply when considering implementing reversion mechanisms in their jurisdictions. These principles are pitched at a suitably abstract level, cognisant of the different issues faced across different creative markets and jurisdictions. They cover elements like protecting reversion mechanisms against subversion by rightsholders and ensuring reversion mechanisms are industry specific. We close the chapter, and the book, with a provocation as to what an effective reversion system might look like, drawn from Giblin’s prior work in ‘A New Copyright Bargain’ (2018).

Research in political science, economics, and public policy has primarily examined two types of government housing programs. The first involves low-income public housing in advanced industrialized nations like the United States, United Kingdom, and Japan, where beneficiaries receive subsidized rental housing or housing benefits without property rights. In contrast, research from cities in Latin America, sub-Saharan Africa, and South Asia has focused on policies that grant land titles to residents of slums and informal settlements, providing property rights without additional housing benefits. I focus on a third type of program, understudied yet prevalent in low- and middle-income countries, including India: subsidized homeownership. It is theoretically distinct from rental programs or those accommodating informal settlements because it involves a large in-kind transfer and property rights. I argue that these initiatives uniquely influence how citizens invest in the future, escape poverty, develop agency (or what I call dignity) in social relationships, and wield power in local politics. To support this theory, I outline a multi-method study across three different programs.

This chapter explores housing as a foundation for wealth accumulation, emphasizing its dual role as both a consumable resource and an investment. My theoretical contributions are twofold: First, I argue that property rights can transform in-kind transfers into flexible, reliable wealth transfers, enabling recipients to invest in themselves and their children, regardless of the housing’s location. Second, I demonstrate how housing transfers reduce uncertainty and encourage future-oriented investments, thereby driving long-term wealth accumulation. Using three housing programs as case studies, I show that beneficiaries invest in human or physical capital, improving their employment prospects and income. I also examine mechanisms such as relocation, borrowing capacity, and time horizons, finding strong evidence for the latter two. Overall, the large changes to beneficiaries' economic behavior and outcomes suggest the possibility for important psychological, social, and political effects, which I explore in Chapters 4 and 5.

Chapter 5 builds on the observational findings from the previous chapter to test the hypotheses using two survey experiments performed on a sample of British Labour voters. The first experiment manipulates the selective incentives available to members by changing the cost of joining. Not surprisingly, people are more interested in joining when fees are low. The second experiment manipulates the party’s instrumental incentives by stating members can (or cannot) select party leaders and parliamentary candidates, as well as attend events where they may formally participate in determining the party’s future policy direction. The findings support the hypotheses generated by Chapter 2’s formal model: decentralization increases membership, conditional on voter-party alignment.

The First World War marked a shift from liberalism and internationalism to a period characterised by nationalisation, ethnicisation of citizenship, and economic protectionism. The art market’s history aligns with these narratives, highlighting the fragmentation of a European trade zone and the disruption of a transnational trade equilibrium. The war prompted significant structural transformations in these markets, with Germany seeing a surge in art investment as a hedge against inflation. In Britain, art sales were driven by tax obligations and national service investments. Conversely, the French market struggled, facing stagnation and a focus on preserving existing collections due to the threat of destruction. Neutral countries such as the Netherlands and Switzerland maintained stable art markets, fostering avant-garde movements and serving as hubs for buyers and sellers. The year 1914 catalysed structural transformations in these markets, highlighting how modern warfare altered art’s perception, value, and trade.

In the light of the growing interest in crypto-assets and the quest for their institutionalisation, we examine the role that they can play as investable assets useful in standard portfolio problems when asset returns are predictable. In particular, we study whether a mix of macroeconomic factors and crypto-specific predictors can be combined to produce accurate and economically valuable pooled forecasts. With reference to Bitcoin data, we uncover that crypto returns are predictable out-of-sample. Moreover, when this crypto-asset is made available to a mean-variance optimising investor, it generates large risk-adjusted realised performance gains irrespective of the assumed risk aversion. The results on the predictability of cryptocurrencies are robust to a generalisation to Litecoin and Ripple, although on a shorter 2015–2020 sample. However, results turn mixed and come to depend on the assumed risk aversion, when we investigate the power of forecast combinations to generate economic value from the entire pool of cryptocurrencies.