: In its response to pressures to rationalize health care resource allocation, the American health care system has embraced managed care without concurrent comprehensive health care reform, either in the form of the centralized tax-based systems found in Europe and Canada or that of the Clinton reform plan. What survives is managed care without managed competition, employer mandates, or universal access. Two problems inherent in the incentive structure of managed care plans developed in the absence of comprehensive health care reform (...) work against the public interest. First, sacrifices in terms of medical innovation and quality of care may not be offset by greater equity in the distribution of health care. Second, such managed care plans fail to address the need for long-term accountability. (shrink)

The moral economics of the Islamic Action Front, the partisan wing of the original Jordanian Muslim Brotherhood, is both defined and compromised by internal inconsistency. Similar to others that might be classified as a socially conservative, religiously-oriented political party, the Islamic Action Front pledges a paternalist commitment to the poor only to undermine the already limited prospects of such paternalism through the adoption of charity-based approaches to social welfare and through their more general advocacy for economic liberalization, free markets, (...) capital mobility, and private initiative. How can one best explain both the contradictions constituting the Islamic Action Front’s economics and the political implications contained within such an economic agenda? This article will review the intersection of local class structure, party ideology, and history so to furnish an answer. (shrink)

In his sociological works Pareto developed a theory of cyclical social change within the general equilibrium framework. Building on an earlier propositional formalization, we translate Pareto's theory into a series of simultaneous equations and simulate the equation system. The dynamic behavior of the simulation is consistent with Pareto's predictions and demonstrates the internal logic of the theory.

Understanding what types of issues working adults perceive as ethical in their workplaces will allow better teaching of business ethics. This study reports findings of a thematic analysis of 764 ethical challenges described by working adults in a part-time MBA program and combines its findings with the other published studies on perceptions of ethical issues in the workplace. The results indicate that most people are assured about what they describe as ethical transgressions although experts might disagree. It also highlights certain (...) issues and contexts as being more frequently perceived than others. Ideas for future research in this area are also explored. (shrink)

The ArgumentThis introductory essay describes some intellectual intersections between the history and sociology of science and the history and sociology of accounting. These intersections suggest a potential field of inquiry that concerns itself explicitly with science and economic calculation, a potential that is partly realized in the essays that follow. It is possible to describe a broad shift from concerns for the scientific credentials of accounting to a recognition of the constitutive role that accounting plays for science. In other (...) words the so-called cultural hegemony of the scientist is giving way to that of the accountant. This shift has a number of loosely related but complementary elements. The first is to be found in some recent historical work that links ideals of scientific objectivity to administrative and political values. A second element is a body of work that is critical of theorydominant approaches to experiment and concerns itself with laboratory practice in social context. A third element is an emerging interest in the economics of science. I argue that such a program is weak where it abstracts from processes of economic calculation, and this suggests the fourth element: a contextual approach to economic calculation to be found in sociologically informed accounting research. In the light of these four elements, the essay concludes by considering directly the implications of accounting for science, particularly given recent initiatives to make science more accountable. (shrink)

The pursuit of happiness is a long-enshrined tradition that has recently become the cornerstone of the American Positive Psychology movement. However, “happiness” is an over-worked and ambiguous word, which, it is argued, should be restricted and only used as the label for a brief emotional state that typically lasts a few seconds or minutes. The corollary proposal for positive psychology is that optimism is a preferable stance over pessimism or realism. Examples are presented both from psychology and economics that illustrate (...) the dangers of optimism, and in which better outcomes can occur with a pessimistic stance. A more sophisticated approach is then presented in which, in relation to well-being and quality of life, neither optimism nor pessimism is seen as inherently better than the other, but, rather, in which psychological flexibility may contribute optimally to health and well-being. (shrink)

The popular press has claimed that Secretary of the Interior James Watt bases his philosophy of environmental management on his religious views as a charismatic Christian. An examination of Watt’s published statements indicates: his philosophy of environmental management sterns largely from economic and political considerations; he has a relatively simple ecotheology based on concepts such as God providing creation as a blessing for mankind, and mankind having a stewardship responsibility to use resources to provide for people; his ecotheology does (...) not incorporate any characteristically charismatic ideas; and his ecotheology does not strongly parallel that of conservative Christian theologians who have written on environmental issues. This analysis suggests that for the new “Christianpolitic” as a whole, there is a danger of confusing the scriptural with the cultural and political in the area of environmental ethics. If a Christian ecotheology is going to be used for environmental decision making, it should be developed fully and represent scripture accurately and completely. (shrink)

John Broome’s Climate Matters is a timely, elegant, and accessible book. His book is deliberately interdisciplinary, as is much of his work in moral philosophy more generally. The discussion of what should be done, and by whom, to prevent the adverse effects of climate change is informed by many years of philosophical engagement with economic theory, especially problems arising in the conceptualization and technical implementation of cost-benefit analysis.The central arguments in the book are informed as well by a longstanding (...) engagement with climate change science. Broome brings to bear a perspective forged in the work of his role as a lead author—and occasional critic—of the report of Working Group III of the .. (shrink)

Historically Wales has been regarded as a country with relatively low levels of school exclusion, particularly in comparison with England. This has been used as an indicator of Wales’ commitment to the UN Convention on the Rights of the Child, which foregrounds a rights-based agenda that would argue school exclusion is a consequence of broader socio-economic structures than individual actions. However, simple analyses may mask a different picture of school exclusions in Wales. In this article, we study more detailed (...) information on formal school exclusions by looking at ‘instances’ of school exclusion, which considers the frequency and length of formal school exclusions in Wales, and alongside recorded school absence. The article also demonstrates that the pupils ‘at risk’ of formal school exclusion varies by when they experience school exclusion during their educational lifecourse. The article concludes by highlighting that patterns of school exclusion are complex, and that interpretation of these patterns depends on what kind of measure of school exclusion is used. By publishing these results, the article hopes to persuade policymakers and practitioners to re-examine their processes of exclusion to ensure they are commensurate with the law and to prevent unnecessary school exclusions. (shrink)

This article investigates relationships between countries' legal traditions and their quality of life as measured by a number of widely reported social indicators; in so doing it also offers a critique of a highly influential body of work which is widely cited in the literatures of corporate governance, economics and finance. That body of work has shown, inter alia, statistically significant relationships between legal traditions and various proxies for investor protection. We show statistically significant relationships between legal traditions and various (...) proxies for societal health. Our comparative evidence suggests that the interests of investors are not congruent with the interests of wider society, and that the criteria for judging the effectiveness of approaches to corporate governance should be broadened. (shrink)

This article argues that current economic upheaval should be understood as a problem of domination, in two respects: the ‘dyadic’ domination of one actor by another, and the ‘structural’ domination of individuals by a diffuse, decentralized, but nevertheless human-made system. Such domination should be contested through specifically democratic political mobilization, through institutions and practices that expand the political agency of citizens themselves. The article advances this argument by synthesizing two traditions of political thought. It reconstructs radical democratic theory from (...) the Progressive Era. These thinkers in turn help to reinforce contemporary debates in neorepublican thought, resolving disputes over the scope of domination and the relationship between domination and democracy. This synthesis offers a novel normative framework for diagnosing and responding to the current combination of economic upheaval and political dysfunction. (shrink)

IntroductionLarge corporations—from Apple to Volkswagen—are powerful; whereas their customers are much less powerful. But many observers believe that information and communication technologies are giving consumers weapons to level the playing field. Is this really true?From Theory to the Reality of Economic PowerTechnology and economic power share one characteristic: economic theory has long ignored them.Starting with the industrial revolution, technology has been the first driver of economic growth. But it is only a couple of centuries later (...) that economic theory gave it the place it deserves—as an engine of economic cycles.In classical economic theory, economic power did not exist. Market mechanisms excluded it—many suppliers sell to many buyers without any mutual influence and without any say on price. The only exception was monopolies, and their power was evil.The emergence of the modern corporation, the multiplication of oligopolies, and the Depression were all needed to slowly dem. (shrink)

Populistic political discourse often portrays ethnic minorities as threats to the majority society. However, the deeper characteristics of perceived threats have not been sufficiently empirically investigated. The goal of this study is to identify the similarities and differences in intergroup threats perceived by Slovak majority from Roma, Muslims, and ethnic Hungarian minorities. The participants included 1244 adults who were instructed to write the first five associations that came to mind when thinking about one of the minorities. Our findings indicate that (...) power threat was dominant from the Hungarian minority and safety threat from the Roma and Muslim minorities. Moreover, the safety threat from the Roma minority related mainly to theft and violence, while from Muslims it was terrorism. Mapping and addressing specific threats associated with different minorities can help explain misperceptions and reduce prejudice against them. (shrink)

A comparative historical perspective shows how globalization and the specificities of China’s rapid growth era limit its hegemonic potential in the twenty-first century global economy. Although state capitalism and openness to foreign capital facilitated China’s economic transformation, interactions among three forms of capital—state, private, and foreign—have produced developmental dynamics that constrain China’s capacity to assume the position of the world’s economic hegemon. These include the compromised competitiveness of China’s corporate sector due to the domination of state-owned enterprises, limits (...) on the ability of Chinese firms to develop leading transnational corporations, and early openness to and continued dependence on foreign capital. Moreover, the party-state’s efforts to ameliorate these constraints arouse external suspicion rather than support a Chinese-led hegemonic order based on consent and shared interests. These historically conditioned realities should temper expectations that China is converging teleologically toward a familiar hegemonic role in the international economy. (shrink)

Ethical oaths for bankers, economists and managers are increasingly seen as successful instruments to ensure more responsible behaviour. In this article, we reflect on the nature of ethical oaths. Based on John Austin's speech act theory and the work of Emmanuel Levinas, we introduce a performative concept of ethical oaths that is characterised by (1) the existential self-performative of the one I want to be, which is (2) demanded by the public context. Because ethical oaths are (3) structurally threatened by (...) the possibility of infelicity or failure, we stress (4) the behavioural aspect of ethical oaths in economics and business. We conclude that a performative concept of ethical oaths can contribute to more ethical behaviour in economics and business, because the performative involves action and behaviour. At the same time, it becomes clear that a radical new perspective on the nature, function and limitation of oaths is needed. (shrink)

Behavioral research has revealed how normal human cognitive processes can tend to lead us astray. But do these affect economic researchers, ourselves? This article explores the consequences of stereotyping and confirmation bias using a sample of published articles from the economics literature on gender and risk aversion. The results demonstrate that the supposedly ‘robust’ claim that ‘women are more risk averse than men’ is far less empirically supported than has been claimed. The questions of how these cognitive biases arise (...) and why they have such power are discussed, and methodological practices that may help to attenuate these biases are outlined. (shrink)

In the economic debate, power is defined and studied mainly as an interpersonal relation occurring out of perfect competition. This is a consequence of the combination of methodological individualism and the assumption of competition as a natural and everlasting coordinating mechanism, operating without any sort of coercion. This methodology, however, is not adequate to analyze the forms of social coercion that characterize capitalism. " Economics and Power" criticizes the main theories of power developed in economic (...) literature, analyzing ultraliberal contractualism to radical political economics, and ultimately suggesting a Marxist conception of power and coercion in capitalism. Palermo s ontological argument is rooted in the philosophy of critical realism.This unique volume presents his main finding as being that the essential coercive mechanism of capitalism is competition. Capitalist power is not caused by a lack of competition, but by the central role it plays in this mode of production. Following this, the chapters reconstruct a Marxian conception of power where it is analyzed as a social relation and argues that perfect competition does in fact exist under the disguise of capitalist power. This book criticizes the construct of power and the underlying ideas surrounding perfect competition. This book is of interest to those who study political economy, as well as economic theory and philosophy. ". (shrink)

This book analyzes the links between political economics, governance structures and the distribution of political power in economic policy making. The book theoretically explains and empirically quantifies these interactions. The analysis includes both public good policies and redistributive policies. Part I of the book presents the conceptual foundations of political-economic bargaining and interest group analysis. After presenting the underlying theory, Part II of the book examines ideology, prescription and political power coefficients; Part III analyzes a number (...) of specific structures; and Part IV presents a framework for political econometrics with a number of empirical applications and testable hypotheses. In all four parts of the book, four analytical dimensions of public policy are distinguished: governance structures, political economy, mechanism design and incidence. (shrink)

The economic God -- Liturgical power -- The practice of hierarchy -- Instrumental cause -- Anthropology of office.

(2014). The economic debate on power: a Marxist critique. Journal of Economic Methodology: Vol. 21, No. 2, pp. 175-192. doi: 10.1080/1350178X.2014.907440.

Power, Prose, and Purse is an edited collection of essays that draw connections between literature, economics and law. The essays discuss novels that explore the time period between the Industrial Revolution and the Great Depression and analyze the insights that novelists may offer to law and economics, while noting the tensions among these paradigms.

Upshot: Massumi innovatively interlinks poststructuralist theory with ideas from cognitive psychology and Luhmann’s systems theory to deconstruct rational choice as the founding myth of the liberal economy. His politically charged constructivism explores socio-economic reproduction as a process of constant re-stabilization between the openness of affective response and the closure of rationality. Defying social determination, Massumi shows how affect can constitute a source of potential change when modulated trans-individually in response to political events.

To reduce CO2 emissions requires greater reliance on renewable sources of energy for generating electricity, especially adoption of large-scale wind generation. This study investigates possible approaches and/or policies that increase efficient use of renewable energy and reduce greenhouse gas emissions in a cost effective manner. We develop a constrained optimization model of two electricity systems to identify the impact of increasing wind generating capacity and examine how carbon prices (taxes, allowances) impact the penetration of wind power into the electricity (...) grids. Rather than employ engineering cost functions, marginal cost functions are estimated using hourly offer data from the Alberta Electric System Operator. We determine optimal removal of coal generating facilities as greater levels of wind capacity are installed in an integrated Alberta-BC electricity system; and examine the economic costs and institutional incentives that affect the ability to store intermittent wind-generated power in BC’s hydro reservoirs during low demand. The marginal shadow price of storage is zero, whichindicates that there is more than enough water behind the dams given Alberta’s relatively small demand for storage and limited intertie transmission capacity. (shrink)

According to Marx’s unfinished critique of political economy, capitalist relations of production rely on what Marx refers to in Capital as ‘the mute compulsion of economic relations’. The aim of this article is to demonstrate that this constitutes a distinct form of economic power which cannot be reduced to either ideology or violence, and to provide the conceptual groundwork for a systematic theory of capital’s mute compulsion.

The main claim of the study is that technocratic public administration based on knowledge as a key element of power, significantly affects the idea of what is objective and what is objectivity. I explore how scientific objectivity as part of a scientific ethos has been evolving on the example of economic knowledge. A key institutional feature of economic knowledge is that it includes in fact two relatively autonomous epistemic cultures: academic one, connected to the production of knowledge (...) in academia and expert-administrative one developing in public and corporate governance systems. The peculiarity of knowledge demanded and functioning in public administration is instrumentality (a possibility to be transformed into technology) and an exeptional focus on quantification. As a result ‘governing by number’ becomes a key social technology and at the same time numbers seem to embody objectivity. I show that economic knowledge in public administration involves an inevitable and deepening ontological gap with ‘objective reality’. The state needs not true but effective knowledge: the task of administrating does not presuppose a realistic representation of the administrated object, but rather seeks to simplify it, to plan it, or even to construct. Thus, unlike scientific knowledge, the objectivity of knowledge in administrative practices has almost nothing to do with the object (in sense of truthfulness, representation). Meanwhile, ongoing need for academic economic knowledge to be used into the state administration and its further development in a fundamentally alien sphere leads to a significant deformation of scientific ethos, which is a crucial regulatory element in the scientific knowledge production. Erosion affects both aspects of objectivity as an ontological principle and as an ‘epistemic virtue’. Against this background, objectivity as an ‘epistemic virtue’ has been transformed into the ‘technique of distancing’ and the principle of technical impersonality, which imply eventually the replacement of the ‘knowledge self’ by a technical system. (shrink)

Part One defends the thesis, first advanced by Aristotle, that the conclusion of practical reasoning is an action, and argues for its philosophical significance. Opposition to the thesis rests on a contestable way of distinguishing between acts and contents of reasoning and on a picture of normative principles as external to the actions that fall under them. The resulting view forces us to choose between the efficacious, world-changing character of practical thought and its subjection to objective rational standards. This is (...) a false choice. Aristotle's own understanding of the thesis points the way to an alternative conception of practical reason on which it is at once a power to effect changes in the world and to get things right. Practical reasoning endows the action performed on its basis with a principle that is not imposed on it from outside: instead, it makes the action what it is. Properly understood in terms of the relevant acts of a rational subject, the thesis is defensible and philosophically attractive. Furthermore, it helps us understand the continuity and discontinuity that exists between the motions of human beings and those of other animals, as Aristotle showed. (shrink)

One of the main economic debates taking place in late-nineteenth and early-twentieth-century America was between supporters of protectionism and advocates of free-trade policies. Protectionists won this debate, as the 1897 Dingley Tariff raised tariff rates to record highs. An analysis of this outcome highlights the overlapping interests of Republican politicians and business groups. Both of these groups endorsed particular economic arguments in favour of protectionism. Contemporary studies by academic economists informed the debates surrounding protectionist policies at this time, (...) and also analysed the impacts of these policies. Evidence from politicians, business owners, and economists provides a broad view of who favoured protectionist policies in turn-of-the-century America. This analysis also focuses on how the impacts of these policies were studied and presented in contemporary academic and public discourse. (shrink)