Motivated by the ongoing controversy surrounding corporate tax, this article presents a study that explores stakeholder expectations of corporate tax in the context of UK business. We conduct a qualitative analysis of in-depth interviews with representatives of community groups, as well as interviews with those representing business groups. We then identify eight themes that together describe “what” companies need to do, “how” they need to do it, and “why” they need to do it, if they wish to appeal to a (...) wide group of interested parties. We discuss our findings based on the corporate social responsibility literature and propose novel ways for community groups and business groups to connect on the topic of corporate tax, suggesting opportunities and themes for dialogue and potential steps to co-create solutions in a stakeholder society. (shrink)

In response to the IABS conference theme to “advise practitioners,” this paper is framed in terms of two questions that have been found to be critical to practitioners. These are “what is Corporate Responsibility and how to do it” and “what is the value of Corporate Responsibility.” The paper uses theories from within the academic literature to develop a model to answer these two practitioner-based questions. An empirical framework based upon the model is developed and tested with a study (...) of customers of a financial service organisation in the UK. (shrink)

This essay is a literature review journey of ancient Chinese texts, including Confucius' Analects, Sima Qian's Records of the Grand Historians of China, Pan Ku's The History of the Former Han Dynasty, and official historical texts of subsequent dynasties. Confucius is not against the accumulation of wealth as long as it is acquired through moral means. Sima Qian, the greatest Chinese historian, appreciates the contribution of successful private enterprises towards the betterment of economy by its efficient usage of resources (...) and his opinion is strikingly similar to modern economic theories such as F. A. Hakey's ideas on free market economy. Their standpoints are, however, rejected by all later official view which emphasizes "All land and resources belong to the King." Starting from Pan Ku' proposal on the classification of social hierarchy, businessmen belong to the bottom stratum of the social ladder. The money-making businessmen of the common people is portrayed as "immoral" or even "illegal," but when the profit goes to the King or when the business is state-owned, it is taken as reasonable and highly acceptable. The Chinese King is the controller of most profitable and important businesses in major industries and mining as well as the distributor of most valuable resources. All official view emphasizes the stability of the state, for then the control of the country can be ensured and the power of the King can be consolidated. (shrink)

How were the Greeks of the sixth century BC able to invent philosophy and tragedy? In this book Richard Seaford argues that a large part of the answer can be found in another momentous development, the invention and rapid spread of coinage which produced the first ever thoroughly monetised society. By transforming social relations, monetisation contributed to the ideas of the universe as an impersonal system and of the individual alienated from his own kin and from the gods. Seaford argues (...) that an important precondition for this monetisation was the Greek practice of animal sacrifice, as represented in Homeric Epic, which describes a premonetary world on the point of producing money. This book combines social history, economic anthropology, numismatics and the close reading of literary, inscriptional, and philosophical texts. Questioning the origins and shaping force of Greek philosophy, this is a major book with wide appeal. (shrink)

Money is a symbol. Beginning with this simple notion, we have completed a qualitative study of how money exists in people’s everyday lives and how it is used symbolically. A review of the financial, economic, psychological, and semiotic literature shows that even though money is written and talked about exhaustively, little symbol theory appears in economic writing, and we rarely found money mentioned in semiotic texts. We used a qualitative, phenomenological approach to identify critical thematic (...) elements and underlying structures of participants’ experience. We also incorporated an accepted symbol-structure template in our analysis of the functions, emotions, actions, and reactions in the transactions our participants described. Participants refer to money both as wealth in the abstract and as concrete amounts about to be used. Our analysis of money in the abstract describes a structure of experience involving belonging, privacy and secrecy, unequal distribution, quantitative uncertainty, reflections of life history, and values. Our analysis of money in the concrete reveals a symbolic intention and a variety of “Others” engaged in the symbolic action. (shrink)

"Shell offers admirably close readings [which are] often brilliant... Summary could do little more than hint at the riches laid open."-- The Eighteenth Century "A remarkable piece of work. Valuable for a wide range of readers from the expert to the inquiring generalist."-- Religious Studies Review In Money, Language, and Thought , Marc Shell explores the interactions between linguistic and economic production as they inform discourse from Chretien de Troyes to Heidegger.

The fortunes and misfortunes of Shylock and Antonio are pervaded with economic and legal ideas. Both characters tend to overlap and confuse in several dimensions–the most celebrated one is to believe that the Jew is the merchant–and are alternatively victim and victimizer. The analysis of the play focusing in money and contract, economics and the law, market and morality, allows us to delve into the nuances of one of the most engaging characters in the history of literature and (...) to ponder the classical liberal message of justice and charity. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Journal of the History of Ideas 62.1 (2001) 59-79 [Access article in PDF] Money and Sovereignty in Early Modern France Jotham Parsons [The mint official] must above all seek integrity in the moneys, on which our features are imprinted and on which the general good depends. For what would be safe if our image were offended, and if that which a subject ought to venerate in his heart (...) were immediately violated by a sacrilegious hand? 1Early modern French commentators on money and monetary policy were fond of quoting this very late antique chancery formula; 2 it even appears in the epigraph to one unpublished commonplace book on the subject from the early seventeenth century. 3 Its popularity was no doubt due partly to the fact that classical literature contained few other theoretical statements on the practicalities of issuing money. 4 It also showed how deeply classical humanism had shaped economic thought, as it had done to all of French political culture. This was apparent as early as 1514 in Guillaume Budé's scholarly classic, De Asse et partibus ejus. 5 By 1600 these influences had ensconced themselves so firmly that economic writers found it nearly impossible to talk about money without a [End Page 59] full panoply of classical erudition. 6 In France the second half of the sixteenth century saw the rise of a specialized, expert, and increasingly systematic tradition of monetary thought. Despite its classical vocabulary, this economic literature was in many ways "modern" in its methods, ambitions, and subject. While developing an account which aspired to a scientific explanation of commercial society and of how government and money interacted, the French commentators came to a partial realization of how radically their own society differed from those which had gone before. In this respect the prevailing climate of thought about money influenced even a writer as non-technical as Michel de Montaigne.Traditionally, scholarly treatment of early modern French economic texts has focused on a relatively small range of issues and authors. One such issue, the origins of the "quantity theory of money" (with Jean Bodin as its hero), is notable for its sterility, since that concept was not and could not have been meaningful to contemporaries. 7 The origin and development of "mercantilism" or, more broadly, of "political economy" in general, has proven a more fruitful subject of inquiry. 8 Undeniably, the changing relationships among governments, merchants, and the economy were a major public issue and, in the seventeenth century, a major site of theoretical reflection on the nature of political power generally. Even so, an excessive concentration on mercantilism is dangerous, for however one defines it, it was not the first, and for a long time not the most significant, economic discourse in France. Rather, from the 1560s well into the seventeenth century, French discussions of economic issues centered on very concrete problems brought about by the government's obligation to issue and maintain a stable currency. 9 While one would search this literature in vain for the specific doctrines of modern economics, I argue that it did represent a real achievement in the early modern understanding of commerce and the state. Though they have not received their due from scholars, the writers who took part in these debates formed a large and influential school with close ties to the actual institutions of government. 10 The French monetary theorists did an enormous amount [End Page 60] to set the stage for the mercantilist era. They developed a detailed notion of monetary economics as a specialized discipline, and above all they placed money and economic policy in the context of a multi-national system of commercial states. In so doing, they sought to comprehend and control not just money but the modern state itself.Early modern money was perched uncomfortably between commodity and fiat. Bewildering varieties of coins circulated, composed of all sorts of alloys. The government assigned a face value for each coin which it authorized to circulate in the abstract accounting unit called the "money of account." 11 This value was almost always greater than... (shrink)

This article provides an in-depth analysis of a conversational exchange initiated by a customer’s price question in real-life business-to-business sales encounters. The analysis focusses on when the customer requests a price, what that implies as well as how the price discussion is conducted. Marketing literature usually considers product/service price to be an obstacle that the salesperson needs to overcome; we demonstrate that the price question is a positive signal for the salesperson. By requesting the price, the customer claims sufficient (...) understanding of the offer, recognition of the service value and a readiness to move to the next phase in the meeting. The salesperson initiates an insert expansion to tailor the price to her or his customer and then informs the price in an expanded clausal response to build customer value. The conversation analytic study was based on a dataset of 13 video-recorded B2B sales meetings in Finland. (shrink)

In his early career, Kenneth Millar, better known as Ross Macdonald, emulated the style of Dashiell Hammett and Raymond Chandler. By the 1960s he had established himself as a distinct voice in the hardboiled genre. In his Lew Archer series, he conveys the complexity of his characters and settings primarily by the use of metaphors. In his 1966 novel Black Money the device performs three functions. In the case of minor characters, the author uses metaphors to comment on Californian (...) society. Concurrently, metaphors describing major characters allow him to develop their dramatic arcs, whereas the recurring elements of the leitmotif serve to demonstrate the narrating detective’s growing concerns with the ongoing investigation. Arguably, it was Macdonald’s use of metaphors that helped define his unique voice. (shrink)

Why are people interested in money? Specifically, what could be the biological basis for the extraordinary incentive and reinforcing power of money, which seems to be unique to the human species? We identify two ways in which a commodity which is of no biological significance in itself can become a strong motivator. The first is if it is used as a tool, and by a metaphorical extension this is often applied to money: it is used instrumentally, in (...) order to obtain biologically relevant incentives. Second, substances can be strong motivators because they imitate the action of natural incentives but do not produce the fitness gains for which those incentives are instinctively sought. The classic examples of this process are psychoactive drugs, but we argue that the drug concept can also be extended metaphorically to provide an account of money motivation. From a review of theoretical and empirical literature about money, we conclude that (i) there are a number of phenomena that cannot be accounted for by a pure Tool Theory of money motivation; (ii) supplementing Tool Theory with a Drug Theory enables the anomalous phenomena to be explained; and (iii) the human instincts that, according to a Drug Theory, money parasitizes include trading (derived from reciprocal altruism) and object play. (Published Online April 5 2006) Key Words: economic behaviour; evolutionary psychology; giving; incentive; money; motivation; play; reciprocal altruism. (shrink)

The impact of “love of money” on different aspects of consumers’ ethical beliefs has been investigated by previous research. In this study we investigate the potential impact of “love of money” on a manager’s ethical decision-making in marketing. Another objective of the current study is to investigate the potential impacts of extrinsic and intrinsic religiosity on ethical marketing decision-making. We also include ethical judgments as an element of ethical decision-making. We found “love of money”, both dimensions of (...) religiosity, and ethical judgment to have significant impacts on ethical intentions in a marketing situation. In addition to providing an important contribution to the business ethics literature, the findings also have important managerial implications. (shrink)

Based on the proven maxim that "money makes the world go round", this study, drawing from Shakespeare's texts, presents a lexicon of common words as well as a variety of familiar familial and cultural sitations in an economic context. Making constant recourse to well-known material from Shakespeare's plays, Turner demonstrates that terms of money and value permeate our minds and lives even in our most mundane moments. His book offers a new, humane, evolutionary economics that fully expresses the (...) moral, spiritual, and aesthetic relationships among persons, and between humans and nature. Playful and incisive, Turner's book offers a way to engage the wisdom of Shakespeare in everyday life in a trenchant prose that is accessible to scholars and to the general reader. (shrink)

Sales in supermarkets have contributed greatly to growth in Fairtrade, but the literature suggests there may be tensions between Fairtrade principles and the commercial practices which characterise UK supermarket value chains. This article explores these tensions through an analysis of supermarket value chains for Fairtrade coffee, cocoa, bananas and fresh fruit. It finds considerable variation in UK supermarket approaches in terms of scale and scope of commitment to Fairtrade and in the nature of relationships with Fairtrade suppliers. In some (...) cases supermarket involvement has the potential both to expand and deepen the impact of Fairtrade, whereas in others it threatens to undermine the ability of Fairtrade to support long-term processes of development. The findings indicate that a more nuanced approach to supermarket Fairtrade is required, with recommendations for actions that could be taken to maximise the opportunities and minimise the risks. (shrink)

Organised crime is chameleonic in nature. It is transnational, dynamic, overlapped criminal activities and pervasive in nature. In the same way, money laundering is the predicate offence and it is naturally linked to other organised crimes. After the cold war, this nexus culminated during the occurrence of 9/11 in particular which was a lethal combination of money laundering and terrorist financing. This combination is currently being experienced by Pakistan; where various terrorist groups are involved with direct and indirect (...) support of proceeds from drug trafficking, assassination, land grabbing, arms smuggling and various other organised crimes routing through the abusage of financial and non-financial channels and support to terrorism. This has left serious socio-politico and economic consequences in the south Asian region and global as well. The researcher found very limited evidence of money laundering characteristics in the existing research literature on Pakistan. Thus to carry out research work on the subject was need of the hour in Pakistan. This led the researcher to find out root causes and existing weaknesses at the regime’s end in countering financial crime and financing of terrorism. (shrink)

Abstract:What if a prostitute had expressed the idea of individual rights to property based on labor, even before John Locke? The London Jilt presents Cornelia, a prostitute who endorses her stigmatized job on the grounds that sexual labor is the same as any other profession. By analyzing self-ownership embodied in the prostitute figure, I claim that The London Jilt significantly anticipates Locke's labor theory. Cornelia adopts the emerging discourse of labor and property and situates prostitutes as economic subjects who turn (...) female sexuality into profits. This fiction also reveals marriage is an unfair financial trade that exploits women's sexual labor. (shrink)

This article examines the historically contentious relationship between the financial market and the public as discussed in academic literature, financial journalism and prescriptive how-to invest handbooks during the late 19th and early 20th centuries. Although financial markets thrive off active public participation, speculating at stock and commodity exchanges has been a sanctioned ritual reserved for a privileged minority. We argue that the financial establishment’s intent to control market access through financial entry-barriers (such as exchange membership fees and margin requirements) (...) has been part of a bigger story we need to understand: a history of delegitimating uninitiated ‘lay speculators’ through the construction of exclusionary narratives about unfit amateur investors and morally corrupt publics. We conceptualize this process as an ongoing and delicate boundary-making exercise contributing to a market participation discourse that has been characterized by a set of reductive binaries, such as those of insider–outsider, professional–amateur and speculator–gambler. We show, however, that attempts to delineate popular participation in financial markets through these binaries have been complicated by the idea that besides being a force of market instability and collective irrationality, the public was a largely untapped source of liquidity. We argue that today’s discourse on public participation in financial markets resuscitates these simplified narratives and propose a more nuanced view of non-professional market participants being both destabilizers and liquidity-providers. (shrink)

MARX'S CRISES THEORY: SCARCITY, LABOR AND FINANCE by Michael Perelman New York: Praeger, 1987. 250 pp., $37.95 Perelman shows that Marx assigns a major role to money in bringing about instability under capitalism. The ideology of cheap credit promotes malinvestment and overproduction, which cause the economic crises that will eventually lead to the revolution that will overthrow capitalism. Yet cheap credit serves the interests of capitalists and the state. After a survey of the nineteenth? and twentieth?century literature on (...) Marx's monetary theory, parallels between that theory and the views of Austrian?school economists are pursued. (shrink)

The standard argument for the claim that rational preferences are transitive is the pragmatic money-pump argument. However, a money-pump only exploits agents with cyclic strict preferences. In order to pump agents who violate transitivity but without a cycle of strict preferences, one needs to somehow induce such a cycle. Methods for inducing cycles of strict preferences from non-cyclic violations of transitivity have been proposed in the literature, based either on offering the agent small monetary transaction premiums or (...) on multi-dimensional preferences. This paper argues that previous proposals have been flawed and presents a new approach based on the dominance principle. (shrink)

A friend, correspondent and intellectual successor to David Ricardo, John Ramsay McCulloch forged his reputation in the emerging field of political economy by publishing deeply researched articles in Scottish periodicals and the Encyclopaedia Britannica. From 1828 he spent nearly a decade as professor of political economy at the newly founded University of London, thereafter becoming comptroller of the Stationery Office. Perhaps the first professional economist, McCulloch had become internationally renowned by the middle of the century, recognised for sharing his ideas (...) through lucid lecturing and writing. The present reference work, first published in 1845, reflects McCulloch's extraordinarily wide reading across subjects relating to his field of expertise. Featuring sections on foundling hospitals and slavery, as well as money and prices, the bibliography is annotated throughout with McCulloch's frank assessments. Several other works written or edited by McCulloch are also reissued in the Cambridge Library Collection. (shrink)

Examining the emergence, in the inter-war years, of what came to be called 'Keynesian macroeconomics'. This study accepts the novelty of the latter, as represented by the IS-LM model, which in various forms came to dominate the sub-discipline for three decades. It argues, however, that this model did not represent a radical change in economic thinking but rather an extremely selective synthesis of those which had permeated the preceding literature, including Keynes's own contributions to it, not least the General (...) Theory. Hence the book questions the appropriateness of thinking of this development as the outcome of a 'Keynesian Revolution' in economic thought, partly because the most radical aspects of Keynes's own intended contribution were excluded from it, but mainly because IS-LM is better viewed as the end result of twenty years or more of intellectual development to which many others besides Keynes contributed. (shrink)

This paper aims to explore the complex manner in which Martin Amis defines the state of addiction–as the sustained collapse of objectivity and subjectivity for any inhabitant of a social system–as well as how the systemic patterns of life impose, imprint, and perpetuate themselves upon the individual.

This study explores the effect of a short ethics intervention—a chapter of business ethics in a business course—on perceptions of business courses and personal values toward making money and making ethical decisions and Monetary Intelligence. Since attitudes predict intentions and behaviors, Monetary Intelligence, a form of social intelligence, is defined as the extent to which individuals monitor their own monetary motive, behavior, and cognition; apply the information to evaluate critical concerns and options; select strategies to achieve financial goals; and (...) reach ultimate success and subjective well-being. I theorize that the affective aspect of MI is unrelated to perceptions of “course work,” yet it is positively related to their “personal values” toward making money, but negatively related to making ethical decisions. Individuals with high MI have low interests in making money, but high levels of intrinsic religiosity and recall of the Ten Commandments and high interests in making ethical decisions and making the grade. Based on data from multiple panels and multiple sources, this study provides the following discoveries. Contrary to expectations, there are no differences in students’ perceptions of course work and their personal values toward making money and making ethical decisions between two measures—before and after the ethics intervention. Results of this study not only provide empirical supports for the bright side of theory of Monetary Intelligence but also reveal a new paradox—recall of the Ten Commandments is positively related to making ethical decisions, but negatively related to making money. Results illustrate important theoretical, empirical, and practical implications to the literature of money attitudes, religiosity, intrinsic motivation, and business ethics. (shrink)

Taking notice of race is both risky and inevitable, in medicine no less than in other endeavors. The literature on race as a classifying tool in clinical research poses this core dilemma: On the one hand, race can be a useful stand-in for unstudied genetic and environmental factors that yield differences in disease expression and therapeutic response. On the other hand, racial distinctions have social meanings that are often pejorative or worse, especially when these distinctions are cast as culturally (...) or biologically fixed. Our country's troubled past in this regard and the persistence of race-related disadvantage should keep us on notice about this hazard. Yet paying attention to race in order to ameliorate past wrongs sometimes supports the quest for social justice, as Dorothy Roberts points out in this issue. And at times, as Jay Cohn and Raj Bhopal note, attention to race can make a therapeutic difference, to the point of saving lives. (shrink)

The paper reviews statistical models for money, wealth, and income distributions developed in the econophysics literature since the late 1990s. By analogy with the Boltzmann-Gibbs distribution of energy in physics, it is shown that the probability distribution of money is exponential for certain classes of models with interacting economic agents. Alternative scenarios are also reviewed. Data analysis of the empirical distributions of wealth and income reveals a two-class distribution. The majority of the population belongs to the lower (...) class, characterized by the exponential (“thermal”) distribution, whereas a small fraction of the population in the upper class is characterized by the power-law (“superthermal”) distribution. The lower part is very stable, stationary in time, whereas the upper part is highly dynamical and out of equilibrium. (shrink)

Source: Author: Marwan Kadhim Mohammed, Wan Roselezam Wan Yahya Martin Amis's manipulation of the patriarchal concept of power is a notable indication of his transgressive attitudes that raise remarkable questions about the human identity. Transgressing power investigates the violation of the normal and familiar trends of literature in order to circulate a new discourse by which a new identity is reframed. Hence, the study of power in Martin Amis's novels, as an important technique of identity re-definition, is not taken (...) into consideration in the light of Foucault's theory of power. The objective of this study is to examine the role applied by transgression as a technique of subverting the common discourse of power in the field of identity re-formation. The study investigates the concept of power manipulated in Amis's Money to define the identity of the 'New Man'. Accordingly, the Foucauldian theory of power is taken as a framework of this study. The study reveals a conclusion in which the transgressive aspects of power are effectively utilized by Amis to re-define the identity of his protagonist in the novel. Although John Self-has finally lost his name and fortune, which are necessary demands to define one's self-in the patriarchal society, he finds his own new identity away from the materialistic norms of the common discourse. ]]>. (shrink)

Since 1997 there has been a significant increase in the number and percentage of Kansas farmers who are women. Using Reskin and Roos’ model of “job queues and gender queues” I analyze changes in the agricultural industry in Kansas that resulted in more women becoming “principal farm operators” in the state. I find there are three changes largely responsible for women increasing their representation in the occupation: an increase in the demand for niche products, a decrease in the average farm (...) size, and greater societal acceptance of women as farmers. This study adds to the growing literature on women principal farm operators in developed countries, and is among the first to explore why women are becoming a larger percentage of the occupation in the United States. (shrink)

The paper reviews statistical models for money, wealth, and income distributions developed in the econophysics literature since the late 1990s. By analogy with the Boltzmann-Gibbs distribution of energy in physics, it is shown that the probability distribution of money is exponential for certain classes of models with interacting economic agents. Alternative scenarios are also reviewed. Data analysis of the empirical distributions of wealth and income reveals a two-class distribution. The majority of the population belongs to the lower (...) class, characterized by the exponential (“thermal”) distribution, whereas a small fraction of the population in the upper class is characterized by the power-law (“superthermal”) distribution. The lower part is very stable, stationary in time, whereas the upper part is highly dynamical and out of equilibrium. (shrink)

Any fundamental examination of managerial practices must consider a philosophical conundrum at the heart of market exchange. Economically, the opportunity for profit seems to demand somebody else’s loss, and ethically, we must not take advantage of others’ misfortune. In a market system involving a multiplicity of stakeholders, profit opportunities may arise in which relationships between winners and losers are distant, indirect, or even nonexistent; their motives are multivalent; and their market participation may be intentional or accidental. Reflecting two decades later (...) upon several cases arising from the 9/11/2001 terrorist attacks, this paper describes several examples of profiting from loss that demonstrate the ubiquity and variety of the problem. It also invokes numerous bodies of literature that demonstrate the inherent complexity and interdisciplinarity of the problem and the absence of determinative principles to answer the question of when it is justifiable to profit from loss. The paper positions casuistry, the ancient philosophical art of case analysis that resembles modern business pedagogy, as a complement to ethical theory. The Loss Agency-Division of Benefits framework developed in the paper demonstrates the value of philosophy to managerial practices when economic theory is insufficient for ethically classifying and evaluating forms of profiting from loss. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:What Is Literature? What Is Art?Integrating Essence and HistoryJerry Farber (bio)I. Aesthetic ExperienceThere remains a widespread belief among literature professors that literature doesn't exist; that is, that it has no stable, transhistorical identity. The very term "literature," we are reminded, shifts its meaning from one century to another. And even if someone should insist that, when they talk about literature, they're not talking about (...) writings in general or a familiarity with books or whatever else the term "literature" may have signified in the past, but only about those texts that one might consider aesthetic, what has this person gained? Not much—since a literature professor who, in recent decades, has turned for answers to the philosophical study of aesthetics will have been likely to confront either a Wittgensteinian dismantling of "art" or, more commonly these days, an institutional theory that defines "art" not on the basis of any properties that it might possess or of any function that it might serve, but solely on the basis of its relation to a cultural institution that, in return, is identified in relation to "art." One might be forgiven for concluding that to follow this quest for essence from "literature" to "aesthetic" or "art" is to go from one sinking ship to another.So literature—as Terry Eagleton, for example, has continued to insist through two editions of his widely read Literary Theory: An Introduction1 —doesn't exist. Which makes it awkward to be a literature professor and helps to explain why so many of us have tried to reinvent ourselves as professors of something else. But this is by no means a mere problem of academic nomenclature, since more than a few of us continue to believe on some level (a level obviously below the graduate level) that there is something there all the same, something that is more stable and less culturally contingent than our theories tell us it is. We just don't know how to legitimize that belief. This dilemma tends to be reflected one way or another in [End Page 1] our teaching. We may repress any essentialist qualms and seek a lofty theoretical consistency as cultural historians for whom aesthetics is merely one more thing to situate—and we pass this disbelief in literature on to our students. Or we may learn to live with cognitive dissonance and pass that on to our students. Literature is hardly alone among the arts in its identity problem, but it does seem to have a more advanced case.Someone came for a job interview on my campus a few years ago, fresh out of a fairly prestigious doctoral program. He made his presentation and then mentioned during the question period afterward that, in his classes, he did make an effort not to ignore a text's aesthetic qualities. He stopped, looked around apprehensively, and said, "I know the term's problematic, of course...""So how do you resolve that?" I asked.He shrugged. "I don't know really."Nonetheless, just as there has been a "return of the aesthetic" in broader terms, books and articles have been appearing from the mid-90s on, arguing for or heralding a reemergence of the aesthetic in literary study.2 Certainly this makes sense, if only as a way of trying to shore up our precarious position in the academy, since, as has been repeatedly observed, literary study, in the absence of any delimiting aesthetic criterion, simply dissolves into other disciplines. And if literature doesn't exist, why spend money on literature professors? Why not hire real historians, sociologists, philosophers, psychologists, etc., to do those more respectable and definable things we keep claiming we do? But still, practical motives aside, what is to be the theoretical basis for any return to literary aesthetics? Can this merely be a matter of fashion? Will "the return of the repressed" do as a justification?The time has come, I think, not to revert to a simple, blind faith in "literature" and "art," but to find a way of reconciling our stubborn essentialist belief, on one hand, and our constructionist perspective, on the other—a way of understanding and teaching literature... (shrink)

Freuds Arbeit über Vergänglichkeit wird in den Kontext der Auseinandersetzung mit Endlichkeit und Sterblichkeit gestellt, wie sie in Literatur und bildender Kunst bis in die Gegenwart hinein geführt wird. Dabei zeigt sich, dass die Spannung zwischen carpe diem und memento mori in Freuds Text als Spannung zwischen manischer Verleugnung und depressiver Reaktion – also in der Sprache der Psychoanalyse – wieder auftaucht. Es wird gefragt, inwiefern der leicht manische Einschlag, den Freuds Verteidigung des Genusses des Schönen angesichts der Vergänglichkeit annimmt, (...) auch dem Umstand geschuldet sein könnte, dass er sich dem Thema Verlust, insbesondere der sicher geglaubten kulturellen Errungenschaften, nicht aus einer Perspektive der Theorie der Objektbeziehungen nähert. Mit Bezug auf Roger Money-Kyrle lässt sich zeigen, dass auf diese Weise ein Weg eröffnet wird, dem Ringen um Genuss und Freude angesichts der Vergänglichkeit, die zum einen in der verstreichenden Zeit und zum anderen in der menschlichen Destruktivität begründet liegt, konzeptionell eine andere Wendung zu geben. Ferner wird die Vergänglichkeit zusammen mit dem psychoanalytischen Konzept der Nachträglichkeit diskutiert. Hier rückt die spezifische Zeitlichkeit in den Fokus und es eröffnet sich eine neue Perspektive, die für eine kurze Reflexion der Popularität von Vanitas-Topoi in der Gegenwartskunst genutzt wird. (shrink)

Freuds Arbeit über Vergänglichkeit wird in den Kontext der Auseinandersetzung mit Endlichkeit und Sterblichkeit gestellt, wie sie in Literatur und bildender Kunst bis in die Gegenwart hinein geführt wird. Dabei zeigt sich, dass die Spannung zwischen carpe diem und memento mori in Freuds Text als Spannung zwischen manischer Verleugnung und depressiver Reaktion – also in der Sprache der Psychoanalyse – wieder auftaucht. Es wird gefragt, inwiefern der leicht manische Einschlag, den Freuds Verteidigung des Genusses des Schönen angesichts der Vergänglichkeit annimmt, (...) auch dem Umstand geschuldet sein könnte, dass er sich dem Thema Verlust, insbesondere der sicher geglaubten kulturellen Errungenschaften, nicht aus einer Perspektive der Theorie der Objektbeziehungen nähert. Mit Bezug auf Roger Money-Kyrle lässt sich zeigen, dass auf diese Weise ein Weg eröffnet wird, dem Ringen um Genuss und Freude angesichts der Vergänglichkeit, die zum einen in der verstreichenden Zeit und zum anderen in der menschlichen Destruktivität begründet liegt, konzeptionell eine andere Wendung zu geben. Ferner wird die Vergänglichkeit zusammen mit dem psychoanalytischen Konzept der Nachträglichkeit diskutiert. Hier rückt die spezifische Zeitlichkeit in den Fokus und es eröffnet sich eine neue Perspektive, die für eine kurze Reflexion der Popularität von Vanitas-Topoi in der Gegenwartskunst genutzt wird. (shrink)

Selfhood and the Soul is a collection of new and original essays in honour of Christopher Gill, Emeritus Professor of Ancient Thought at the University of Exeter. Although they all share the same concern - the experience of being a person and the question of how best to live - as in the work of the honorand himself they are distinguished by a diversity of approach and subject matter, taking the reader on a journey from ancient philosophy to medical writing (...) via discussions of topics as varied as money, love, free will, and cookery. (shrink)

Odd Langholm has previously given us three important book-length studies on price and value, wealth and money in the Aristotelian tradition, and the Aristotelian analysis of usury. The present work is an effort to integrate virtually all the secondary literature on economic speculation by every significant figure who studied or taught at Paris during its golden age. This is no mere compilation of prior research, however. The author has made detailed examinations of unedited manuscripts and rare incunabula in (...) order to present a panorama of diverse speculators, each with his own intellectual genotype. In offering new interpretations and important nuances to previously established conclusions, this work may well serve as an indispensable reference for future investigations into medieval and early modern economic thought. (shrink)

In recent years, money, finance, and the economy have emerged as central topics in literary studies. The Cambridge Companion to Literature and Economics explains the innovative critical methods that scholars have developed to explore the economic concerns of texts ranging from the medieval period to the present. Across seventeen chapters by field-leading experts, the book highlights how, throughout literary history, economic matters have intersected with crucial topics including race, gender, sexuality, nation, empire, and the environment. It also explores (...) how researchers in other disciplines are turning to literature and literary theory for insights into economic questions. Combining thorough historical coverage with attention to emerging issues and approaches, this Companion will appeal to literary scholars and to historians and social scientists interested in the literary and cultural dimensions of economics. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Poetry in TheoryBob Perelman (bio)Home MoviesWhen my wife and I went to Guatemala in 1975 for our honeymoon, our eyes were opened to novel states of affairs. Money, for instance, was not continuous, but was kept in place only sporadically and with the broadest hints of violence. In Guatemala City, sixteen-year-old Mayan kids in army camouflage with submachine guns were stationed on every street corner where there was (...) a bank. But the local remained thoroughly distant from any would-be universal. An elderly middle-aged Mayan man at a market outside the capital balked rather indignantly when I gave him a paper bill to pay for the chair we had agreed I would buy; the woman at the stand next to him urged him to accept the money saying. “Se sirve! Se sirve!” (It—paper money—works! It works!)Nor was geography continuous. Knowledge of the country was both guarded and somewhat fantastic. It was impossible to obtain a map of the interior (guerrilla trouble). We spent one long afternoon negotiating our way into a bureaucratic building where, after signing our names in a notebook, we were allowed a glimpse at some antique maps that, in my memory at least, verged on watercolors. We hooked up with a Chinese archeologist from Iowa State who directed us to Sayache, which we reached after a six-hour busride and a trip across the Uxamachinto River in a mahogany dugout. There was one hotel in town, owned by a man who was also mayor, judge, and, clearly, king. He joined us for dinner. In the dining room we saw an old map that showed Guatemala with a large bulge stretching northeast to the Gulf of Mexico. The longlasting territorial dispute between Guatemala and Britain that resulted in the creation of British Honduras, which then became Belize, had been finally resolved, at least on this framed print which showed Belize as fully dissolved into Guatemala. When I asked the mayor about the map he replied that Belize belonged to Guatemala, had always been part of Guatemala. In response to some tentative question of mine about negotiation or tactics, he said of Belize, pounding his fist on the table, “Tomalo!” (Take it!)Alien, Point-Blank, Green, and ActualThe vagaries of mapping and the intermittent condition of value that these old home movies demonstrate strike me as suggestive for figuring the relations between poetry to its institutional or generic neighbors, theory and literary criticism. In a larger and more theoretically committed piece I would want to specify the different discursive regimes with some precision, but here I will use “theory” as a shorthand for everything that goes on in literature departments, even though this shortcircuits the large conflicts currently raging about the nature of the profession; “poetry,” in this same shorthand, should therefore equal what gets taught and reproduced in creative writing departments and writing workshops, though ultimately I will be proposing a differently oriented writing as what I want for poetry. But for now the words on the map will be “poetry” and “theory”—even if they also flood me with defensiveness and apathy, especially when it comes to theory. “Theory”? Postcolonial studies? Marxism? Queer theory? Deconstruction? Cultural studies? Film studies? It feels as if I were to introduce a specialist in gender in [End Page 158] eighteenth-century German theater as someone working with “words.” The desire to make discursive sentences wanders off...But one negative specific comes quickly to mind. I do not intend a binding allegory in which some primitive or pristine “Guatemala” stands for “poetry”—quite the contrary. There are, unfortunately in my view, many such constructions in which poetry is one or another brand of elemental exoticism. Poetry as a natural, irrational, sensuous, intuitive, musical, sonic bastion is an idea that is still widely diffused. One well-known example, which forced itself to mind as soon as I thought of those Guatemalan scenes, occurs in Wallace Stevens’s “Arrival at the Waldorf,” which ends by invoking an “alien, point-blank, green, and actual Guatemala.” Of course, it is a complex poem and as I read it, checking the context of the remembered line, my... (shrink)

In lieu of an abstract, here is a brief excerpt of the content:A Decade of Teaching Classics in a Massachusetts Prison CHARLES ROWAN BEYE From 1972 until 1982, I volunteered as a teacher in a degree-granting program of liberal arts at the college level in Norfolk State Prison, a medium security prison in Walpole, Massachusetts. Medium security means that the men were not confined to their cells except when there were routine security checks, such as taking attendance which occurred several (...) times a day, or at night when there was a lights-out policy, or whenever the surveillance system of the prison went on alarm. Other than that, the men could work in various shops, or in the prison garden, or, among other things, they could take classes. The men who were incarcerated at Norfolk had been determined not to pose too great a threat to the other inmates, nor to be liable to try to break out in escape attempts that would damage others; the more intractable men were in the maximum security prison down the road, confined to their cells. There had always been shop classes or other kinds of instruction which would train the men into skilled manual labor. I taught in a program that was radically different. It was the dream of an extraordinary woman named Elizabeth Barker who was an old fashioned lefty, a woman of the old money Brahmin class of Boston society, who like so many of her kind had no money any longer, the only indication of her social status being a marbles-in-the-mouth accent, an indifference to money, clothing styles, social distinction, and an arrogance that made her assume that the rest of the world hung on her every word. She was the soul of kindness and generosity, one of the few persons I have met who deserved the accolade of a “true Christian,” although she was insisarion 26.3 winter 2019 tent upon proclaiming her militant atheism. She was also a tremendous bore. I once had the misfortune to drive her back from the prison to Boston. Talking incessantly, in a kind of monotone, relentlessly insisting upon a position that I had agreed with when we started the drive, it was all I could do after a half hour to keep from reaching over, opening the door, and pushing her out. But, God love her, she performed a miracle at Norfolk. Mrs. Barker subscribed to a belief that I soon adopted once I started teaching in her program which was that all people, apart from outright psychopaths, are redeemable, that a teaching relationship offers compassion, instruction, and most of all, a belief in the student, that in itself redeems the student, in this case, the prisoner, from self-hatred, lack of esteem or purpose, and general despair. Conventionally, prisons are run on a mixture of punishment and rehabilitation. At the crudest level you have the concept of solitary confinement, then there is the idea of “at hard labor” where prisoners spend their days breaking rocks under supervision, or as in England at the turn of the century, spending the entire day walking endlessly up a revolving drum with stairs. The lightest so-called punishment is simply the fact of incarceration. The theory is that if you are confined to a prison for so many months, years, the horror of this endurance makes you into a better person because you have had time to realize that you don’t want this to happen again. Relatives of a criminal’s victims are often on hand at parole board hearings because they want the sentence to go on longer, for the prisoner to “suffer more.” Rehabilitation, on the other hand, usually involves teaching skills, on the most basic level, reading and writing, then woodworking, metal work, car repair, on the theory that many males commit crimes because they have no legitimate way to earn money in our economy. Mrs. Barker saw a higher kind of rehabilitation that led into her notion of redemption. The liberal arts, art, music, literature, philosophy, science were in her mind the nourishment of the soul without which no one can truly be said to live. The idea, as you can imag2 a decade of teaching classics in... (shrink)

Historians estimate that between 10 and 15 thousand Jews were hiding out in Warsaw before the outbreak of the Warsaw Uprising. One of the aid organizations, the Jewish National Committee received a larger amount of money in late July but managed to distribute only some of it. Then rest went for various forms of aid during the fighting and after the uprising fall—for those who survived. The Varsovians’ attitude towards the Jews varied. The civilian authorities tried to help all (...) who found themselves in extreme conditions, Poles and Jews. Many Jews bravely fought in many battles in the city along with their Polish compatriots and their fate is presented in the article. (shrink)

The subject of the study is color symbolism in F. Fitzgerald’s novel «The Great Gatsby» in the aspect of an ambivalent understanding of the conceptual solution in the use of a certain color in creating images of characters, in describing the setting and semantic content of the ideological content of the work and its screen interpretations. The object of study is color as a meaning-forming concept in literature and cinema, the symbolism of color. The work of Francis S. Fitzgerald (...) «The Great Gatsby» is of interest in the study of the influence of color palette. The main research methods are analytical and comparative historical. The color concepts of F. S. Fitzgerald's book “The Great Gatsby” and film adaptations are comprehended. This work by F. S. Fitzgerald is of interest to the modern Russian reader and viewer due to the fact that the problems raised in the novel are still relevant today. The writer touches on the popular theme of the American dream in literature and cinema. The story of the main characters is a vivid example of the illusory nature of this dream, and the lifestyle of the characters and their worldview demonstrate spiritual emptiness and cold indifference to everything except money and wealth. The scientific novelty of the article lies in the study of the ambivalence of perception of the coloristic solution of the images of characters in the book in comparison with its screen interpretations. The author comes to the conclusion that F. S. Fitzgerald in the novel «The Great Gatsby» uses a color palette in creating images of characters and describing the scene in such a way that the ambiguity in the perception of color most unexpectedly and sharply emphasizes the problems raised and becomes the basis for rethinking the ideological content of the work. (shrink)

The literature on Base of the Pyramid strategies emphasizes that creating social value requires collaborative, multi-stakeholder business approaches. However, there is limited understanding of how businesses can successfully coordinate such value creation processes in the developing economies that face significant institutional voids. This study adopts a business model perspective for analyzing social value creation processes that span organizational boundaries. We introduce a novel, theoretically grounded business model framework that helps conceptualize social value by locating the various loci of value (...) creation, and the stakeholders that partake in creating and capturing this value. We subsequently analyze the mechanisms of social value creation in M-Pesa, a renowned boundary-spanning mobile money system that has advanced financial inclusion among tens of millions of users in Kenya. The results show that information and communications technology can help advance social value creation by reducing the cost of coordinating boundary-spanning business models that integrate diverse societal stakeholders. The results further point to uneven distributional outcomes in self-governing social value creation strategies where the focal firm plays a coordinating role. (shrink)

This paper analyses the discourse surrounding a high-profile sexual assault case in South Korea. While most research on language and sexual violence has focused on the media portrayal or online resistance movement, not much has focused on the language and the law. Using Critical Discourse Analysis and rhetoric, this present paper seeks to show the importance of value of paying closer attention to legal decision-making process, showing how this can make a significant contribution to the literature. The analysis reveals (...) two distinctive discourses at work. One is that victims must embody and display certain characteristics as a ‘pure and destroyed’ individual in order to avoid being dismissed or appearing untrustworthy. The second is that the perpetrators represent themselves as victims seeking to makes it the goal of the court to protect the perpetrators’ rights, rather than those of the victims. (shrink)

Robert King Merton’s article published in Science popularized the Matthew Effect: “For to everyone who has, more will be given and he will grow rich; but from the one who has not, even what he has will be taken away”. The Matthew Effect prevails at the individual, organization-industry, and country-global levels. This interdisciplinary review connects the Holy Bible with agency theory, tournament theory, corporate social responsibility, prospect theory, behavioral economics, the psychology of money, and business ethics in the (...) class='Hi'>literature. I expand the Matthew Effect, incorporate prospect theory and the love of money, and develop a multi-level theory of the Matthew Effect in Monetary Wisdoms: Individual decision-makers apply their deep-rooted values as a lens, frame the critical concerns in the immediate and omnibus contexts, and maximize expected utility and ultimate serenity-happiness across people, context, and time at the individual, organization-industry, and country-global levels. The rich serve God, enjoying the ultimate joy and happiness. The poor serve mammon, destroying their lives. The rich get richer. The poor get poorer. Scholars of business ethics and CSR must explore this phenomenon in future studies. (shrink)

Socio-economic life may differ in terms of cultures and beliefs. Today, it is seen that it is impossible for socio-economic life not to be affected by the rapidly developing digitalization. Digitalization proclaims its dominance in most areas of social life, but especially in economic fields its effect is thought to be more different because economic development is the basis of the digital development. Due to digital economic models based on informational, global and network organizations, people interact with more people than (...) in traditional society. Thus, people contribute to the creation of a real competitive environment by participating in economic processes on a more comprehensive and egalitarian basis. Economic models supported by technological communication tools, e-mails, networks and innovative software are getting stronger day by day and spread to most areas of social life. The effect of digitalization on the economic field prepares the ground for important discussions especially in the relationship between religion and economic life. New forms of shopping such as e-commerce and crypto money that emerged as a result of digital developments are closely related to the approach of religion to economic innovation. Should religion or religious people take a stand in the face of new economic models and crypto money developing in the digitalization environment? Has the sociological role of religion in socio-economic life changed with digitalization? What is the functional dimension of crypto money in the relationship between socio-economic life and religion? The answers to such questions are a matter of curiosity. In this study, research will be made within the framework of the problems whose answers are the subject of curiosity. The main purpose of this study is to reveal the equivalence of crypto money, one of the new economic models in social life, and its relationship with religion, which is human and social capital, in an environment where digitalization is rapidly developing. Methods used in this study are literature review, field research and interviews with people using cryptocurrency. According to the findings, it has been observed that people are exposed to religious concerns when using crypto money. There have even been those who think that the losses in cryptocurrencies are also related to ignoring religious sensitivities. As a result, crypto money will make its presence felt more and more in the new world order and this situation should be considered in terms of religious sociological dimensions. It is seen that it will be beneficial to develop the crypto money, which has emerged as a new generation money and has many types, in line with the general economic models and to be developed in a way that will eliminate the concerns of the religious in this context. (shrink)

Mood and optimism have been demonstrated to influence risk-taking decisions; however, the literature on mood, optimism, and decision-making is mixed and conducted primarily with western samples. This study sought to address this gap in the literature by examining the impact of mood and dispositional optimism on risk-taking and whether these associations differed between undergraduate students from the United States and the People’s Republic of China. Both samples completed a dispositional optimism questionnaire and an autobiographical mood induction task. They (...) were then tasked with choosing to complete the Raven’s Advanced Progressive Matrices reasoning task on easy, medium, or hard difficulty for hypothetical money. Selecting harder difficulties was interpreted as more risk-taking due to a higher chance of failure. More positive mood and higher dispositional optimism were associated with decreased risk-taking, i.e., selecting easier puzzle difficulties, in the American sample but increased risk-taking decisions, i.e., selecting harder difficulties, in the Chinese sample. These findings suggest that the effect of mood and optimism on decision-making may differ by nationality and/or culture. (shrink)

Epistemologists are interested in what makes beliefs well justified. Even before considering competing theories of epistemic justification, however, we should ask what sort of valuational structure we are trying to explain. If, as far as epistemic justification is concerned, beliefs are like bank accounts, then all beliefs are comparable: just as in any bank account there must be more, less, or as much money as in any other, one belief must be better, worse, or as good as any other. (...) Contemporary epistemologists take for granted the assumption that beliefs are comparable in the same way that bank accounts are comparable: bank accounts have balances, sprinters have personal bests for the 100-meter dash, and beliefs have degrees of justifiedness. Alternatively, we could understand the justificatory status of a belief to be more like the expensiveness of a restaurant. Consider a concept of restaurant expensiveness on which the expensiveness of a restaurant is determined by the range of prices for meals at that restaurant. If meals at Restaurant A are $25 to $50 and meals at B are $10 to $20, then A is more expensive than B. Restaurant C, however , is neither more nor less expensive than A. Nor is it equally expensive, for there are restaurants that are more expensive than C that are not more expensive than A . Some evaluative concepts, like this concept of restaurant expensiveness, do not reduce values to single numbers. If epistemic justification is like this, then there may be pairs of beliefs such that neither is better justified than the other, but nor are they equally well justified. Such beliefs would be incomparable. While incomparability is familiar in the ethics literature, it has not previously been explored in epistemology. I discuss the implications of allowing for incomparability in epistemology, both for theories of epistemic justification and theories of knowledge. (shrink)

The literature on the politics of science and on science policy is dominated by information about large and highly industrialized countries. For example, models of the different forms of science policy administration and management tend to derive from French, U.S., and British exemplars. Yet in the mid-1990s there is a growing number of small nations, all of which are seeking to harness research communities to the cause of socioeconomic development, while still extracting "value for money" from science budgets. (...) This article uses the case study approach—focusing on the political economy of the politics of science in the Irish Republic, chiefly since the 1950s-to analyze the problems faced by science policy agencies and the scientific community in small nations. The study offers analogies and possible insights into the politics of research policy in other small nations ; it also aims to throw light on emerging research policy trends even in bigger countries as the "bargain" between the funders and the performers of research becomes more and more explicit and increasingly subject to economic justifications. (shrink)

Money and support tend to flow in the direction of economics, science, and other academic departments that demonstrate measurable "progress." The humanities, on the other hand, offer more abstract and uncertain outcomes. A humanist's objects of study are more obscure in certain ways than pathogens and cells. Consequently, it seems as if the humanities never truly progress. Is this a fair assessment? By comparing objects of science, such as the brain, the galaxy, the amoeba, and the quark, with objects (...) of humanistic inquiry, such as the poem, the photograph, the belief, and the philosophical concept, Volney Gay reestablishes a fundamental distinction between science and the humanities. He frees the latter from its pursuit of material-based progress and restores its disciplines to a place of privilege and respect. Using the metaphor of magnification, Gay shows that, while we can investigate natural objects to the limits of imaging capacity, magnifying cultural objects dissolves them into noise. In other words, cultural objects can be studied only within their contexts and through the prism of metaphor and narrative. Gathering examples from literature, art, film, philosophy, religion, science, and psychoanalysis, Gay builds a new justification for the humanities. By revealing the unseen and making abstract ideas tangible, the arts create meaningful wholes, which itself is a form of progress. (shrink)

DESPITE ITS PROMINENCE IN BOTH BIBLICAL AND CLASSICAL LITERATURE, the moral category of luxury has been lost in contemporary Christian ethics. To address the spending of one's money as a moral act, I propose recovering the category. A survey of the history of the term illustrates its particular place in a set of economic virtues and vices, and suggests that its "defenders" in the eighteenth century rely on arguments that are antithetical to a virtue ethics perspective and are (...) called into question by contemporary science and experience. But what counts as luxury? I conclude with a beginning casuistry in the context of the contemporary economy, suggesting that "cheap" goods may be luxuries but shared public goods are not. (shrink)

In the absence of access to formal credit, informal contracts with independent investors give the small ranchers of the Lower Amazon an acceptable means through which to surmount the high investment hurdle of starting a cattle herd. These contracts – called sociedades – allow small ranchers to raise an outside investor's cattle in return for a portion of the offspring and are commonplace in the cattle production systems of the Amazon. But, notwithstanding a vast literature on cattle production in (...) the Amazon, informal contracts have been largely overlooked. This paper presents the results of a field survey and financial analysis for informal contracts on small ranches in the Lower Amazon. In the results, we suggest that informal contracts are an important means of cattle herd start-up and herd production for small ranchers. Internal rates of returns in cattle production under these contracts are in the range of –7 to –12% for the small rancher and 12% for the investor. The net present value of the contract to the small rancher ranges from –R$1219 to –R$8599 and from R$1681 to R$8845 for the investor, for a 10-year period, depending on herd size. Financial returns contracts are sensitive to the contract design – e.g., to who pays health costs – and to beef prices. The small ranchers have a negative IRR, lose money, and bear all the risk of loss, yet persist in using this form of herd development. We surmise that this is due to the non-financial benefits of cattle ownership and the lack of access to formal credit structures. In conclusion, although outside the formal economy and apparently financially unrewarding, these contracts are an important mechanism by which the small ranchers on the Amazon Floodplains create cattle herds. (shrink)