Classic Books Library presents this brand new edition of “The Federalist Papers”, a collection of separate essays and articles compiled in 1788 by Alexander Hamilton. Following the United States Declaration of Independence in 1776, the governing doctrines and policies of the States lacked cohesion. “The Federalist”, as it was previously known, was constructed by American statesman Alexander Hamilton, and was intended to catalyse the ratification of the United States Constitution. Hamilton recruited fellow statesmen James Madison Jr., and John Jay to write papers for the compendium, and the three are known as some of the Founding Fathers of the United States. Alexander Hamilton (c. 1755–1804) was an American lawyer, journalist and highly influential government official. He also served as a Senior Officer in the Army between 1799-1800 and founded the Federalist Party, the system that governed the nation’s finances. His contributions to the Constitution and leadership made a significant and lasting impact on the early development of the nation of the United States.

Following the death of Kim Jong Il, North Korea has entered a period of profound transformation laden with uncertainty. This authoritative book brings together the world's leading North Korea experts to analyze both the challenges and prospects the country is facing. Drawing on the contributors' expertise across a range of disciplines, the book examines North Korea's political, economic, social, and foreign policy concerns. Considering the implications for Pyongyang's transition, it focuses especially on the transformation of ideology, the Worker's Party of Korea, the military, effects of the Arab Spring, the emerging merchant class, cultural infiltration from the South, Western aid, and global economic integration. The contributors also assess the impact of North Korea's new policies on China, South Korea, the United States, and the rest of the world. Comprehensive and deeply knowledgeable, their analysis is especially crucial given the power consolidation efforts of the new leadership underway in Pyongyang and the implications for both domestic and international politics. Contributions by: Nicholas Anderson, Charles Armstrong, Bradley Babson, Victor Cha, Bruce Cumings, Nicholas Eberstadt, Ken Gause, David Kang, Andrei Lankov, Woo Young Lee, Liu Ming, Haksoon Paik, Kyung-Ae Park, Terence Roehrig, Jungmin Seo, and Scott Snyder.

Major epidemics of the last two decades (SARS, H1N1, MERS, Ebola and Zika) have been followed by increases in inequality (Furceri, Loungani, Ostry and Pizzuto, 2020). In this paper, we show that the extent of fiscal consolidation in the years following the onset of these pandemics has played an important role in determining the extent of the increase in inequality. Episodes marked by extreme austerity—measured using either the government’s fiscal balance, health expenditures or redistribution—have been associated with an increase in the Gini measure of inequality three times as large as in episodes where fiscal policy has been more supportive. We survey the evidence thus far on the distributional impacts of the COVID-19 pandemic, which suggests that inequality is likely to increase in the absence of strong policy actions. We review the case made by many observers (IMF 2020; Stiglitz 2020; Sandbu 2020b) that fiscal support should not be withdrawn prematurely despite understandable concerns about high public debt-to-GDP ratios.