This article discusses the interplay of public policy and market-driven initiatives to improve farm animal welfare. Over the last couple of decades, the notion of ‘market-driven animal welfare’ has become popular, but can the market deliver the FAW that consumers and politicians expect? Using the Danish pork sector as the empirical setting, this article studies efforts to improve private FAW standards following changes to general regulations. The analysis shows that ethical misgivings regarding the adequacy of (...) current and prospective FAW standards are tempered by the economic considerations that guide the practices of some actors. The study also shows that efforts to improve FAW standards are contingent on collaboration and coordination across globalised markets among actors with divergent interests. The findings have important implications for market practices and public policy in relation to FAW. (shrink)

​This book describes argumentative tools and strategies that can be used to guide policy decisions under conditions of great uncertainty. Contributing authors explore methods from philosophical analysis and in particular argumentation analysis, showing how it can be used to systematize discussions about policy issues involving great uncertainty. The first part of the work explores how to deal in a systematic way with decision-making when there may be plural perspectives on the decision problem, along with unknown consequences (...) of what we do. Readers will see how argumentation tools can be used for prioritizing among uncertain dangers, for determining how decisions should be framed, for choosing a suitable time frame for a decision, and for systematically choosing among different decision options. Case studies are presented in the second part of the book, showing argumentation in practice in the areas of climate geoengineering, water governance, synthetic biology, nuclear waste, and financial markets. In one example, argumentation analysis is applied to proposals to solve the climate problem with various technological manipulations of the natural climate system, such as massive dispersion of reflective aerosols into the stratosphere. Even after a thorough investigation of such a proposal, doubt remains as to whether all the potential risks have been identified. In such discussions, conventional risk analysis does not have much to contribute since it presupposes that the risks have been identified, whereas the argumentative approach to uncertainty management can be used to systematize discussions. (shrink)

Public decisions on environmental risk have traditionally been weighed in terms of the principle of efficiency and its methodologies, such as cost-benefit and risk-benefit analysis. These original essays argue for moving beyond the market paradigm toward making policy that incorporates environmental values. Scholars representing a broad range of disciplines present a thorough analysis and methodological investigation of environmental risk and the potential for integrating environmental values into the policymaking process. They address the normative and theoretical roots (...) of environmental risk, describe the distinct domain that exists for environmental values as opposed to economic values, and look at the conflicts between economic and environmental values within the applied context of the NIMBY (not in my back yard) phenomenon. (shrink)

Many large corporations now have written codes of ethics to guide the business/marketing activities of employees. The purpose of this study was to determine the frequency and types of topics which are covered in the ethics policy statements of large U.S. corporations. The results indicated that the topics covered most often (respectively) were: misuse of funds/improper accounting, conflicts of interest, political contributions, and confidential information. It is concluded that in addition to written ethics policy statements, top management should (...) communicate ethical values and demonstrate by example. (shrink)

It is reported that medical students both in the U.S. and Poland have experience of interacting with pharmaceutical company representatives (pharma reps) during their school years. Studies have warned that the interaction typically initiated by the pharma reps’ general gift-giving eventually leads to the quid pro quo relationship between the pharma company and the future doctors, the result of which is that the doctors will prescribe their patients drugs in favor of the pharma company. Built upon the existing finding, this (...) research engages in analysis with three foci. The first is to compare attitudinal differences of the American and Polish medical students as they interact with pharma reps. Second, it investigates the role of the different economic and cultural elements (respectively in the U.S. and Poland) in the students’ attitudinal differences. Last, it suggests that the medical schools in both countries should have strict policies and effective education curriculum to help their students better prepare to interact ethically with pharma reps. Since there has been no direct comparative cultural analysis of this kind which is known in a published literature or report, the authors believe that the paper will serve as a catalyst for further research in the area. (shrink)

Predicting terrorist attacks with prediction markets has been accused of being immoral. While some of these concerns are about the likely effectiveness of prediction markets on terrorism (PMsoT), this paper discusses the three main reasons why even effective prediction markets on terrorism might be considered immoral. We argue that these three reasons establish only that PMsoT cause offense and/or fleeting mild harm, and that, even taken together, they do not constitute serious harm. The moral issues considered are that PMsoT: 1) (...) create character-affecting perverse incentives, 2) desensitise society to tragic events, and 3) disrespect important ideals. In addition to arguing against the force of these three potential moral problems, it is also argued that societies and governments already endorse intelligence-gathering methods that are clearly more immoral than PMsoT in the relevant respects. We also argue that some circumstances require governments to cause non-serious harm to some people in order to protect and promote the rights and welfare of its citizens. We conclude that a government’s obligation to protect and promote the rights and welfare of its citizens outweighs the non-serious harm that could be caused by effective PMsoT. As a result, we recommend that the likelihood of PMsoT being effective is investigated more closely. (shrink)

In this paper, we investigate the impact of economic policy uncertainty on the conditional dependence between China and U.S. stock markets by employing the Copula-mixed-data sampling framework. In the case of EPU, we consider the global EPU, the American EPU, and the China EPU. The empirical analysis based on the Shanghai Stock Exchange Composite index in China and the S&P 500 index in the U.S. shows that the tail dependence between China and U.S. stock markets is symmetrical, and (...) the t Copula outperforms alternative Copulas in terms of in-sample goodness of fit. In particular, we find that the t Copula-MIDAS model with EPU dominates the traditional time-varying t Copula in terms of in-sample fitting. Moreover, we observe that both the GEPU and AEPU have a significantly positive impact on the conditional dependence between China and U.S. stock markets, whereas CEPU has no significant impact. The tail dependence between China and U.S. stock markets exhibits an increasing trend, particularly in the recent years. (shrink)

This 2000 text applies modern advances in game theory to the analysis of competition policy and develops some of the theoretical and policy concerns associated with the pioneering work of Louis Phlips. Containing contributions by leading scholars from Europe and North America, this book observes a common theme in the relationship between the regulatory regime and market structure. Since the inception of the new industrial organization, economists have developed a better understanding of how real-world markets operate. (...) These results have particular relevance to the design and application of anti-trust policy. Analyses indicate that picking the most competitive framework in the short run may be detrimental to competition and welfare in the long run, concentrating the attention of policy makers on the impact on the long-run market structure. This book provides essential reading for graduate students of industrial and managerial economics as well as researchers and policy makers. (shrink)

This paper seeks to examine the relationship and the interaction between institutions, policy and the labour market in the light of the ideas of the first generation of institutional economists, who, in contrast to neoclassicals, conceived of the economy as a nexus of institutions, underlining, therefore, the significant role of institutional and non-market factors in the functioning of an economic system. They also criticised those who define (economic) welfare only in terms of efficiency and satisfaction of consumer (...) interests; institutionalists instead focus on issues related to justice, human self-development and labourers' welfare. In addition, early institutionalists paid considerable attention to the institutional framework of the labour market. In particular, the first generation of institutional economists highlighted the importance of institutions and other non-market parameters in determining the level of wages and employment (e.g. the role of the bargaining power of workers and employers). Furthermore, they made substantial contributions towards the field of labour policy and they were pioneers in the formulation of economic and social policy. Specifically, various modern institutions and labour market policies, such as unemployment benefits, industrial training and active employment policies, were implemented in the US, during the first decades of the 20th century, after the recommendation of the institutional labour economists. Therefore, their ideas, besides being interesting from a historical point of view, may also be useful in today's analysis of workers' problems and the functioning of modern labour markets. (shrink)

We empirically analyze the impact of economic uncertainty due to the COVID-19 pandemic on the trading volume of each sector in the S&P 500 index. Wavelet coherence analysis is carried out using economic policy uncertainty data and the trading volume of each sector in the S&P 500 index from July 2004 to September 2020. Furthermore, we apply multifractal detrended fluctuation analysis to the trading volume series of all sectors. The wavelet coherence analysis shows that the COVID-19 (...) pandemic has substantially influenced trading volume in all sectors. However, the impact of the pandemic is different from that during the global financial crisis in some sectors, such as information technology, consumer discretionary, and communication services. Because of the lockdown taken to suppress COVID-19, increased remote working and remote learning are the main reasons for these results. Additionally, according to the MF-DFA analysis, the trading volume of all the sectors has clear multifractal characteristics, and they are all nonpersistent. Specifically, trading volumes of the real estate and materials sector are highly correlated, whereas the trading volumes of industry and information technology sectors are comparatively less correlated. (shrink)

ABSTRACT The financial crisis was in large part caused, prolonged, and worsened by a series of government actions and interventions. The housing boom and bust that precipitated the crisis were enabled by extraordinarily loose monetary policy. After the housing boom came to an end, the Federal Reserve misdiagnosed financial markets' uncertainty about the location and value of risky subprime mortgage‐backed securities as being, instead, a liquidity problem, and it took inappropriate compensatory actions that had side effects that included raising (...) the price of oil. Finally, in mid‐September 2008, the government's ad‐hoc bailouts, and the unpredictable terms of the proposed tarp legislation, appear to have caused a sharp spike in uncertainty in the financial markets. (shrink)

This paper further extends the existing GARCH-MIDAS model to deal with the effect of microstructure noise in mixed frequency data. This paper has two highlights. First, according to the estimation of the long-term volatility components of the GARCH-MIDAS model, rAVGRV is adopted to substitute for the RV estimator. rAVGRV uses the rich data sources in tick-by-tick data and significantly corrects the impact of the microstructure noise on volatility estimation. Second, besides introducing macroeconomic variables, deposits in financial institutions, industrial value-added, and (...) M2), Chinese Economic Policy Uncertainty index and Infectious Disease Equity Market Volatility Tracker are introduced in the long-run volatility component of the GARCH-MIDAS model. As indicated by the results of this paper, the rAVGRV-based GARCH-MIDAS is slightly better than the RV model-based GARCH-MIDAS. In addition to the common macroeconomic variables significantly impacting stock market volatility, CEPU also substantially impacts stock market volatility. Nevertheless, the effect of EMV on the stock market is insignificant. (shrink)

European integration has increased to encompass security-related policies. One such policy is defense industry policy, which traditionally has been a national concern rooted in defense and security policy. Efforts have been made since the 1990s to create a European defense industry market. However, there have been different ideas of how this goal should be achieved or which model for state—industry relations the market should rest on. Using Sweden to illustrate the development, this article argues that (...) for the Europeanization of defense industry policy, marketization has played a vital role. Building on official documents and interviews, the article analyzes the efforts to create a European defense industry market, marketization of Swedish defense industry policy, and the increased interaction between Swedish and European defense industry policy processes. The analysis also shows domestic challenges that the processes of Europeanization and marketization have brought about. (shrink)

This article aims to examine the Lithuanian housing policy system, with a special emphasis on social housing issues. This study is based on 20 semi-structured interviews with the decision makers and recipients of social housing. The analysis reveals the issues related to access to social housing, management and administration issues, problems related to stigmatisation of social housing recipients, and their overall satisfaction with the provided support.The study shows that accessing social housing and living in social housing is not (...) an easy task. Social housing recipients have to wait in queues for a long time, experience stigmatisation and constant fear that they may lose their social housing due to a strict income monitoring. On the other hand, the municipality tries to provide friendly strategies to solve individual cases and looks for the best solutions possible to meet the needs of social housing recipients. The findings show that massive privatisation in Lithuania created a dualistic housing market favouring home ownership and marginalising social housing as a safety net for the most vulnerable people. At the same time, a massive home ownership society formed a safety net for many, with family ties playing a crucial role. Housing safety is offered as a part of social assistance programs for the most vulnerable parts of the population. (shrink)

As policy innovation is essential for upscaling responsible innovation, understanding its relationship to value change(s) occurring or sought in sociotechnical systems is imperative. In this study, we ask: what are the different types of values in the policy process? And, how does value change influence policy innovation? We propose a disaggregation of values and value change based on a four-stream variant of the multiple streams framework (MSF), a conceptual lens increasingly used for explaining policy innovation in (...) sociotechnical transitions. Specifically, we posit that the values that ‘govern’ problem framing, policy design, political decision making, and technological diffusion can evolve relatively independently, potentially leading to value conflict. We apply this framework to the ongoing case of the market-based economic dispatch of electricity (MBED) policy in the Indian energy transition using content analysis. We find that the MBED scheme—with its emphasis on efficiency (problem), economic principles (policy), low-cost dispatch (technology), and centralization (politics)—attempts value change in each stream. Each instance of value change is, however, widely contested, with the ensuing value conflicts resulting in significant opposition to this policy innovation. We conclude that a disaggregation of values based on the MSF can facilitate an analysis of value change and value conflict in sociotechnical transitions and lay the foundation for systematically studying the relationships among technological change, value change, and policy change. (shrink)

This paper provides a marketing ethics analysis that addresses the practice of selling genetic tests directly to the consumer. It details the complexity of this emergent sector by articulating the panoply of evolving ethical/social questions raised by this development. It advances the conversation about DTC genetic testing by reviewing the business and healthcare literature concerning this topic and by laying out the inherent ethical complications for consumers, marketers, and regulators. It also points to several possible public and company (...) class='Hi'>policy adjustments. Because this area is relatively new and incredibly dynamic, its current discussion is necessarily an exercise in the “logic of discovery” rather than the “protocol of validation”. The paper serves as a primer for the types of GT being promoted. It also calls for a public discourse in the academic and general community to uncover and define the ethical guidelines and systemic adjustments necessary to create fairness in the various DTC transactions occurring between genetic test sellers and the buyers/clients of their services. (shrink)

Sustainable development goals are aligning marketing innovations to meet sustainability interventions. Recently, marketing has evolved to incorporate sustainability in outreach objectives. Heightened literature on the interplay between sustainability, innovations, and marketing demands a holistic understanding to guide future research direction. The current review bridges the research gap using quantitative performance analysis and qualitative intellectual structure analysis. The thematic and content analysis points towards permeating sustainability focus across the business verticals and value chain for differentiated brand positioning and (...) sustainability-based competitive advantage. The emergent conceptual framework underpins the moderated-mediation role of sustainability and economic enablers with marketing initiatives to promote business innovations beneficial to all stakeholders. The sustainability-aligned innovations in products and processes reflect in gaining cost advantage, revenue generation, access to newer markets, and differentiation. It can be inferred from the study that sustainability and conducive marketing strategies can co-create value across the value chain, providing tangible and non-tangible corporate payoffs. This cross-section in the research domain calls for environmental and business focus at the micro and macro levels, supported by pro-business strategies, system efficiencies, productivity, and technological changes in synergy with the societal landscape. The findings discern strategic directions for practitioners to chart out an organizational portfolio centered around marketing innovations to create business value for the shareholders and sustainability value for the stakeholders, ecosystem, and society. The conceptual framework can help academicians comprehend the business model around sustainability, innovations, and marketing. The evolutionary mapping of the research domain can be used to discern corporate or macro-level policies and transcend reforms aligned to the dynamic market/stakeholder expectations. (shrink)

This paper analyses Australian policy makers’ use of quantification and technologies of government to implement the project of Australian wheat export market liberalisation. I draw upon policy documents to analyse how quantification has been used to construct a simplified, governable conception of the wheat industry. Policy makers, I suggest, acted upon this constructed reality through assemblages of technologies such as performance objectives, audit, cost-benefit analysis and econometric modelling to facilitate wheat export market deregulation. In (...) addition, this paper shows how quantification was used to delegitimise the social consequences of deregulation and marginalise farmers’ opposition to this shift. Thus, the erasure of the social world enabled policy makers to construct economic objectives such as efficiency and productivity as serving the national interest. (shrink)

Non-Invasive Prenatal Testing is a technology which provides information about fetal genetic characteristics very early in pregnancy by examining fetal DNA obtained from a sample of maternal blood. NIPT is a morally complex technology that has advanced quickly to market with a strong push from industry developers, leaving many areas of uncertainty still to be resolved, and creating a strong need for health policy that reflects women’s social and ethical values. We approach the need for ethical policy-making (...) by studying the use of NIPT and emerging policy in the province of Ontario, Canada. Using an adapted version of constructivist grounded theory, we conducted interviews with 38 women who have had personal experiences with NIPT. We used an iterative process of data collection and analysis and a staged coding strategy to conduct a descriptive analysis of ethics issues identified implicitly and explicitly by women who have been affected by this technology. The findings of this paper focus on current ethical issues for women seeking NIPT, including place in the prenatal pathway, health care provider counselling about the test, industry influence on the diffusion of NIPT, consequences of availability of test results. Other issues gain relevance in the context of future policy decisions regarding NIPT, including funding of NIPT and principles that may govern the expansion of the scope of NIPT. These findings are not an exhaustive list of all the potential ethical issues related to NIPT, but rather a representation of the issues which concern women who have personal experience with this test. Women who have had personal experience with NIPT have concerns and priorities which sometimes contrast dramatically with the theoretical ethics literature. These findings suggest the importance of engaging patients in ethical deliberation about morally complex technologies, and point to the need for more deliberative patient engagement work in this area. (shrink)

This article examines the conventional Rehnist interpretation of active labor market policy in Sweden during the period from the war to the early 1970s and asks how it relates to the basic principles of evidence-based social science research.It is shown that the interpretation is misleading, reproducing and communicating material, stories, and images that were supplied bysome of the leading Swedish actors rather than producing an analysis based on the empirical examination of actual developments.The conclusion of the article (...) offers suggestions for an alternative evidencebased interpretation of the Swedish case. (shrink)

As China and the United States strive to be the primary global leader in AI, their visions are coming into conflict. This is frequently painted as a fundamental clash of civilisations, with evidence based primarily around each country’s current political system and present geopolitical tensions. However, such a narrow view claims to extrapolate into the future from an analysis of a momentary situation, ignoring a wealth of historical factors that influence each country’s prevailing philosophy of technology and thus their (...) overarching AI strategies. In this article, we build a philosophy-of-technology-grounded framework to analyse what differences in Chinese and American AI policies exist and, on a fundamental level, why they exist. We support this with Natural Language Processing methods to provide an evidentiary basis for our analysis of policy differences. By looking at documents from three different American presidential administrations––Barack Obama, Donald Trump, and Joe Biden––as well as both national and local policy documents (many available only in Chinese) from China, we provide a thorough comparative analysis of policy differences. This article fills a gap in US–China AI policy comparison and constructs a framework for understanding the origin and trajectory of policy differences. By investigating what factors are informing each country’s philosophy of technology and thus their overall approach to AI policy, we argue that while significant obstacles to cooperation remain, there is room for dialogue and mutual growth. (shrink)

The diagnosis of idiopathic short stature refers to children who are considerably shorter than average without any identified medical reason. The US Food and Drug Administration authorised marketing of recombinant human growth hormone for ISS in 2003, while the European Medicines Agency refused it in 2007. This paper examines the arguments for these decisions as detailed in selected FDA and EMA documents. It combines argumentative analysis with an approach to policy analysis called ‘What’s the problem represented to (...) be’. It argues that the FDA presents its approval as an argument for equity of access to the treatment, describing short stature as a potential disadvantage, and assuming that height normalisation is a clinically meaningful result. The EMA, instead, refuses marketing authorisation with an argument that there is an imbalance of risks and benefits, describing ISS as a healthy condition, and arguing that hGH should provide some psychosocial and/or quality of life benefits to children with ISS other than height gain. This paper then discusses how these arguments could be read through different models of disability, particularly through the medical model of disability and the relational, experiential, and cultural understandings of disability. (shrink)

The field of labor market policy (LMP) is a highly contested issue because it directly addresses the power relations between labor and capital. Therefore, it is often in the center of political and...

In this paper, we employ what we term as ‘the ethical dimension in political market orientation ’ framework to underline how an integration of information from relevant stakeholder groups can inform the formulation of market-oriented, yet ethical policies. Against the backdrop of India’s Look East Policy, we undertake a critical analysis of historic economic data from 1980 to 2014 in the states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland and Tripura, often termed as the Seven (...) Sisters because of their interdependence. Our analysis of the data, using time-series methods, reveals that policy changes ensuing from the economic reforms of 1990s and the initiation of the LEP in 1991 have resulted in regional income convergence in North-Eastern India. A key contribution of our work emanates from the fact that we determine two structural breaks endogenously from long time-series data, thereby identifying three distinct policy regimes, rather than specifying exogenous breaks based on historic and theoretical conjectures. Overall, our work offers both conceptual insights into processes that enable ethical and inclusive policy making, as well as empirical evidence emerging from stochastic convergence of incomes per capita for the Seven Sister states in the North-Eastern region in India, to illustrate how regional economic inequality can be reduced through targeted market-oriented policies. (shrink)

We design an agent based Monte Carlo model of antibiotics research and development to explore the effects of the policy intervention known as Market Entry Reward on the likelihood that an antibiotic entering pre-clinical development reaches the market. By means of sensitivity analysis we explore the interaction between the MER and four key parameters: projected net revenues, R&D costs, venture capitalists discount rates, and large pharmaceutical organizations' financial thresholds. We show that improving revenues may be more (...) efficient than reducing costs, and thus confirm that this pull-based policy intervention effectively stimulates antibiotics R&D. (shrink)

In California Dental Association v. FTC, 119 S. Ct. 1604, the U.S. Supreme Court reviewed a decision by the U.S. Court of Appeals for the Ninth Circuit that a nonprofit affiliation of dentists violated section 5 of the Federal Trade Commission Act, 15 U.S.C.A. § 45, which prohibits unfair competition. The Court examined two issues: the Federal Trade Commission's jurisdiction over the California Dental Association ; and the proper scope of antitrust analysis. The Court unanimously held that CDA was (...) subject to FTC's jurisdiction, but split 5-4 in its finding that the district court's use of abbreviated rule-of-reason analysis was inappropriate.CDA is a voluntary, nonprofit association of local dental societies. It boasts approximately 19,000 members, who constitute roughly threequarters of the dentists practicing in California. Although a nonprofit, CDA includes for-profit subsidiaries that financially benefit CDA members. CDA gives its members access to insurance and business financing, and lobbies and litigates on their behalf. Members also benefit from CDA marketing and public relations campaigns. (shrink)

ABSTRACTThis article explores how neoliberal and populist elements were initially fused in US political talk to legitimize the expansion of corporate power and socioeconomic inequality that has occurred over recent decades. Applying neo-Gramscian critical semiotic analysis to speeches, news texts and legislative statements about the 1981 Reagan economic plan, I illustrate how a distinctive neoliberal-populist discourse articulates signs of ‘the American people’ with signs of market individualism, and further connects these signs to the neoliberal political project’s policy (...) moves to roll back state protections and deliver large tax cuts. Neoliberal populism is a paradigmatic instance of what Stuart Hall has termed the ‘trans-coding’ of distinct semantic elements to form a new hegemonic discourse. Through neoliberal-populist signifying processes, people who are deemed unable or unwilling to inhabit market-centric subjectivities, or to promote policies defined as ‘free market,’ are ideologically drawn outside the perimeters of social esteem and political legitimacy. These processes have created obstacles to imagining a unified, politically effective opposition to the neoliberal project in the United States. Moreover, by ideologically constructing ‘the American people’ as anti-statists in the realm of economic and social welfare policy, neoliberal-populist discourse makes it difficult to articulate democratic values and practices with the state as a mechanism through which greater economic equality and substantive democracy could be realized. My analysis illuminates the immediate historical roots of a public discourse with deep anchors in popular common sense which continues to pervade official US policy talk. The cultural resonance and political influence of neoliberal-populist discourse help to explain the persistence of the neoliberal project in the USA. (shrink)

Many Western countries have introduced market principles in healthcare. The newly introduced financial instrument of “care-intensity packages” in the Dutch long-term care sector fit this development since they have some characteristics of a market device. However, policy makers and care providers positioned these instruments as explicitly not belonging to the general trend of marketisation in healthcare. Using a qualitative case study approach, we study the work that the two providers have done to fit these instruments to their (...) organisations and how that enables and legitimatises market development. Both providers have done various types of work that could be classified as market development, including creating accounting systems suitable for markets, redefining public values in the context of markets, and starting commercial initiatives. Paradoxically, denying the existence of markets for long-term care and thus avoiding ideological debates on the marketisation of healthcare has made the use of market devices all the more likely. Making the market invisible seems to be an operative element in making the market work. Our findings suggest that Dutch long-term care reform points to the need to study the ‘making’ rather than the ‘liberalising’ of markets and that the study of healthcare markets should not be confined to those practices that explicitly label themselves as such. (shrink)

India has produced several drafts of data policies. In this work, they are referred to [1] JBNSCR 2018, [2] DPDPR 2018, [3] NSAI 2018, [4] RAITF 2018, [5] PDPB 2019, [6] PRAI 2021, [7] JPCR 2021, [8] IDAUP 2022, [9] IDABNUP 2022. All of them consider Artificial Intelligence (AI) a social problem solver at the societal level, let alone an incentive for economic growth. However, these policy drafts warn of the social disruptions caused by algorithms and encourage the careful (...) use of computational technologies in various social contexts. Hence, the emerging data society and its implications in India's social contexts demand immense social science attention, which needs to be improved in the policy drafts, primarily because they are creations of industry stakeholders, technocrats, bureaucrats, and experts from tech schools. In the larger social milieu of digital infrastructure emerging, the fundamental question is whether India's national philosophy envisioned in the Indian constitution is reflected in the policy papers. The paper enquires whether the national data policy upholds the core values dispersed through the philosophy of the Indian constitution, which, among other things, is not confined only to inclusion, diversity, rights, liberty, justice and equality. By focusing on constitutional values, the paper seeks to offer a broader and more critical understanding of India's approach to AI policy by bringing together analyses of a wide array of policy documents available in the public realm. (shrink)

The chapter sets forth a conceptual model of a comparative institutional approach to law and economics that can help make the meaningful alternatives known to society. The driving force behind such an approach is the need to come to grips with the interrelations between legal and economic processes. Consistent with the thrust of old and new institutional economics, institutional structure cannot merely be assumed away or taken as given; rather, institutions must be the subject of study involving a comparison of (...) the effects of institutional alternatives on our environment, natural resources, and use of land. The chapter includes a discussion of the i) constitutional, ii) institutional, and iii) economic-impact stages of choice, focusing on four different means of social control that serve to allocate society’s scarce resources, namely the market sector, the public sector, the communal sector, and the openaccess resource sector. Environmental, natural resource, and land-use examples are included in the analysis of each stage of choice in exploring the consequences of fashioning remedies within the market sector, the public sector, the communal sector, or leaving resources in the open-access resource sector. It presents a perspective that avoids the rhetorical policy stance of “government versus the market” by showing that economic performance is driven by i) law, ii) technology and iii) social norms. In this, the state stands as an essential complement to the market sector, the public sector, and the communal sector and not a substitute for them; each exists through the active role of government not by government forbearance.Ce chapitre présente un modèle conceptuel d’une approche institutionnelle comparative en analyse économique du droit, aidant à faire connaître d’autres alternatives à la société. Cette approche permettra d’approfondir, les interrelations entre les processus économiques et juridiques. Selon les principes de l’ancienne et de la nouvelle économie institutionnelle, la structure des institutions ne peut pas être supposée donnée ou absente de l’analyse. Plutôt, les institutions doivent être l’objet d’étude, et l’on doit s’attacher à comparer les effets des différentes alternatives sur l’environnement, les ressources naturelles et l’utilisation de la terre. Ce chapitre contient une discussion des étapes de choix constitutionnels, institutionnels et des impacts économiques. Il se concentre sur quatre moyens différents de contrôle social, qui servent à allouer des ressources rares de la société, notamment le marché, le secteur public, le secteur de communautés, le secteur des ressources d’accès libre. Les exemples environnementaux, ceux des ressources naturelles, et de l’utilisation des terres sont considérés dans l’analyse de chacune des étapes de choix, en analysant les conséquences de la confection de remèdes au sein respectivement, du secteur de marché, du secteur public, du secteur des communautés, ou lorsque l’on laisse libre les ressources du secteur d’accès libre. Il fournit une perspective qui évite les positions rhétoriques de politiques “Etat versus marché” en montrant que la performance économique est liée au droit, à la technologie et aux normes sociales. Dans cette perspective, l’Etat est considéré comme un complément essentiel du marché, du secteur public, du secteur communal et non comme un substitut; chacun de ces secteurs existe à travers le rôle actif de l’Etat. (shrink)

Is there a relation between the increasing extension of markets and market norms to previously non-market goods, and the growth of environmental problems? This chapter explores two competing answers: market-endorsing positions that argue that a source of environmental problems lies in the absence of markets in environmental goods and that the extension of markets or market modes of valuation to environmental goods offers the most effective way of protecting them; market-skeptical positions that deny that the (...) extension of markets will protect environmental goods or more strongly that markets and increasing marketization are themselves a source of environmental problems. These positions offer distinct perspectives on market mimicking instruments in environmental policy making, such as cost-benefit analysis, and on the development of new markets, for example in emission rights and biodiversity offsets. The issues raised include questions about value commensurability, justice, epistemic limits to planning and markets, and environmental limits to growth. (shrink)

Little is known about how farms and markets are connected. Identifying critical gaps and central hubs in food systems is of importance in addressing a variety of concerns, such as navigating rapid shifts in marketing practices as seen during the COVID-19 pandemic and related food shortages. The constellation of growers and markets can also reinforce opportunities to shift growing and eating policies and practices with attention to addressing racial and income inequities in food system ownership and access. With this research, (...) we compare network methods for measuring centrality and sociospatial orientations in food systems using two of America’s most high-producing agricultural counties. Though the counties are adjacent, we demonstrate that their community food systems have little overlap in contributing farms and markets. Our findings show that the community food system for Yolo County is tightly interwoven with Bay Area restaurants and farmers’ markets. The adjacent county, Sacramento, branded itself as America’s Farm-to-Fork capital in 2012 and possesses network hubs focused more on grocery stores and restaurants. In both counties, the most central actors differ and have been involved with the community food system for decades. Such findings have implications beyond the case studies, and we conclude with considerations for how our methods could be standardized in the national agricultural census. (shrink)

This paper analyzes and compares different policy scenarios as well as discusses price elasticities and willingness to pay and to accept using revealed preference data from the French new-car market in 2014 by means of a cross-nested logit model. We focus particularly on electric and hybrid vehicles. We use interactions between the cost and the household income to analyze the sensitivity towards different policy scenarios per income level. Results show that the willingness to pay and to accept (...) obtained in our study is consistent with the real-market conditions. We also find that the most effective scenario to increase the market shares of new sold electric vehicles is that of a major technological advance such as a decrease in price due to cheaper manufacturing costs and an increase in driving range, rather than a policy-based scenario. In addition, the market segment that has more potential to increase the market shares of electric vehicle purchase is the middle-income level. In the paper, we discuss how to overcome the difficulties of working with revealed preference data, and propose multiple imputations to impute the attributes of the unchosen alternatives, by drawing from their empirical distributions. (shrink)

There is a growing literature in neuroethics dealing with the problem of cognitive neuroenhancement for healthy adults. However, discussions on this topic have tended to focus on abstract theoretical positions while concrete policy proposals and detailed models are scarce. Furthermore, discussions tend to rely solely on data from the US, while international perspectives are mostly neglected. Therefore, there is a need for a volume that deals with cognitive enhancement comprehensively in three important ways: a) with conceptual implications stemming from (...) different points of view; b) with ethical, social and legal perspectives that would not be limited to one part of the world but reflect on the current situation in countries in Africa, Asia, Australia, Europe, North America and South America; and c) with discussions of concrete law and policy options. Contributors for the conceptual implications section will elaborate an important general issue (e.g. ethical acceptability of direct-to-consumer-marketing in case of cognitive enhancement drugs). Contributors for international perspectives section will provide a clear discussion on normative issues and cultural values, along with an analysis of empirical data on public attitudes on cognitive enhancement and/or prevalence (specific to the country in question). Contributors for law and policy section will offer a justification for the general policy type they argue for (1. prohibition, 2. discourage use, 3. laissez-faire, 4. encourage use, and 5. mandatory use) in the case of specific cognitive enhancement measure. Furthermore, they would evaluate the possible impact of a detailed regulatory model on consumption and demand, fairness in competitive settings and the social pressure to enhance. (shrink)

Although typically invisible, neoliberal policies and ideologies are often at the root of why farmers markets struggle to offer affordable prices for consumers, sufficient income for farmers, and expand socially and environmentally sustainable food systems. Argentinian ferias francas, a variation on farmers markets, offer a unique case to examine how they may be designed to alleviate these issues by challenging neoliberalism through legislative mechanisms. Ferias francas emerged as an explicitly anti-neoliberal, grassroots response to Argentina’s expansion of neoliberal agricultural policies that (...) stimulated global agribusiness and displaced small-scale farmers. Organizers partnered with municipal, provincial, and national governments to develop legislation to support small-scale farmers and to make the network of ferias competitive with global agribusiness. I ask, how can organizers expand farmers markets’ potential to fulfill the social and environmental goals of agri-food movements, given neoliberal capitalism’s constraints and contradictions? I analyze feria legislation by situating it in its social and historical context, and comparing legislative mechanisms to core elements of neoliberalism in the economy and in the everyday mentalities of agri-food activists. I find that mechanisms such as setting prices lower than neighboring supermarkets and establishing uniform prices for feria goods contest some aspects of neoliberalism. However, the ferias also reproduce neoliberalism, and are still subject to the price standards set under the global neoliberal agroeconomy, raising questions about their prospects for sustainability under neoliberal capitalism. This analysis of feria legislation makes neoliberalism’s influence on farmers markets visible and highlights legislative mechanisms that address some of its harmful effects. (shrink)

The primary aim of the text is to introduce the reader to the relationship between economics and ethics and to the application of economic ethics in the evaluation of the market. The reader will gain insight into: * The ethical and methodological strategy of economics and criticism of the core assumptions that underpin the economic defense of free market operation. * The characteristics of different ethical theories (utilitarianism, duty and rights ethics, justice and virtue ethics) that can be (...) used to evaluate the free market. * How to apply economics in conjunction with ethical theories to evaluate economic trends and policies that promote the free operation of the market and are subject to public debate. These insights will help to develop the reasoning and analytical skills needed to criticize economic analysis as well as to apply ethical concepts to moral issues in economic policy. (shrink)

This book investigates the struggles for hegemony, and a possible ‘crisis of crisis management’ at the core of Italy’s political economy. With a specific focus on the conflict over the 2012 labour market reform, the book also explores the country’s trajectory in the area of economic and social reproduction. It presents a framework for critical policy analysis that draws on cultural political economy and explores its potential synergies with complementary approaches such as historical materialist policy (...) class='Hi'>analysis and critical discourse analysis. Readers will gain an understanding of crisis dynamics in the aftermath of 2008, and insights into related political reactions. The book will also help them develop the analytical tools needed to make sense of these puzzling phenomena. (shrink)

Written by four recognized experts with senior experience in research and government, this text is the first comprehensive survival kit for students and practitioners of economic policy. It is set to become an indispensable resource for everyone involved or interested in modern economic policy. Academic scholars willing to engage in policy discussions and students at graduate or advanced undergraduate levels will find it an essential bridge to the policy world. What makes the book unique is that (...) it combines like no other, facts-based analysis, state-of-the art theories and models, and insights from first-hand policy experience at national and international levels. The book has grown out of ten years of experience teaching economic policy at the graduate level. It provides an intellectually coherent framework to understand the potentialities and limits of economic policy. It addresses positive dimensions, normative dimensions and political-economy constraints. It fills an important gap by reconciling in each major policy area stylized facts of recent economic history, key questions faced by contemporary policymakers, and essential lessons from theory which are captured and explained in a clear, concise, and self-contained way. All major areas of domestic and international policymaking are covered: fiscal policy, monetary policy, international finance and exchange-rate policy, tax policy, and long-term growth policies. The book concludes with a special chapter on the lessons of the financial crisis. The authors are intellectually non-partisan and they draw examples from various countries and experiences; from emerging markets to developing economies, shedding light when necessary on local specificities such as European Union rules and instruments. Economic Policy: Theory and Practice is the essential guide to economic policy in the new post-crisis context. (shrink)

The care for older and disabled people has been described as a core area of the Nordic model. The Nordic countries’ welfare model has also been described as women friendly, as women are not forced to make harder choices than men between work and family. The Swedish eldercare system has, during the last several decades, undergone significant changes. Previously, eldercare could be described as universal, meaning a publicly provided, comprehensive, high-quality service available to all citizens according to need and not (...) based on the ability to pay. In later years transformation of eldercare has been influenced by neoliberal politics, which emphasize economic efficiency and cost reduction through competition. Eldercare has become a more diverse multidimensional system, and a private market for home-based eldercare has been created. The numbers of eldercare providers have increased considerably, and new ways of organizing eldercare have been established. In January 2009, the Act on System of Choice in the Public Sector was introduced. The Act was supposed to provide an opportunity for interested municipalities and county councils to expose their publicly provided services to market competition, and to enable users to choose their providers. This article aims to illustrate how neoliberal reasoning dominated the policy process leading to adoption of the Act on System of Choice in the Public Sector. With the use of a discursive policy analysis the authors specifically explore how neoliberal logic dominated, and also how choice and equality were understood and interpreted in the policy process. They conclude that the neoliberal turn in eldercare claiming to centre on the individual choice of persons in need of care runs the risk of creating unequal care that decentres the eldercare worker and creates precarious work situations. (shrink)

The New Keynesian framework has emerged as the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. It is the backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, and provides the theoretical underpinnings of the inflation stability-oriented strategies adopted by most central banks throughout the industrialized world. This graduate-level textbook provides an introduction to the New Keynesian framework and its applications (...) to monetary policy. Using a canonical version of the New Keynesian model as a reference framework, Jordi Galí explores issues pertaining to the design of monetary policy, including the determination of the optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the implications for monetary policy are addressed, with a special emphasis on the desirability of inflation targeting policies.The most up-to-date and accessible introduction to the New Keynesian framework available Uses a single benchmark model throughout Concise and easy to use Includes exercises An ideal resource for graduate students, researchers, and market analysts. (shrink)

Recent decades have seen a resurgence of contractarian thinking about the nature and origins of the state. Scholars in this tradition ask what constraints rational, self-interested actors might deliberately impose upon themselves. In response, Hobbes, Rousseau, Locke, and other early contractarians answered that laws of property were an attractive alternative to “the war of all against all.” More recently, James Buchanan, Russell Hardin, Mancur Olson, Gordon Tullock, and others have used contractarian principles to justify laws that solve a variety of (...) Prisoner's Dilemmas and other collective-action problems. And in the distributional realm, John Rawls and others have applied contractarian analysis to investigate how material wealth ought to be allocated among people. (shrink)

Demographic Analysis - Selected Concepts, Tools, and Applications presents basic definitions, practical techniques, and methods, as well as examples of studies based on the usage of demographic analysis in various institutions and economic entities. The volume covers studies related to population distribution, urbanization, migration, population change and dynamics, aging, longevity, population theories, and population projections. It is an asset to academic and professional communities interested in advancing knowledge on diverse populations in various contexts such as public policies, public (...) services, education, and labor markets. The book aims to help students of demography as well as practitioners of other fields of social sciences and people in government, business, and nonprofit organizations. (shrink)

Storage and Commodity Markets is primarily a work of economic theory, concerned with how the capability to store a surplus affects the prices and production of commodities. Its focus on the behaviour, over time, of aggregate stockpiles provides insights into such questions as how much a country should store out of its current supply of food considering the uncertainty in future harvests. Related topics covered include whether storage or international trade is a more effective buffer and whether stockpiles are more (...) useful in raw or processed form. Several chapters are devoted to analysing such government programmes as price bands, buffer stocks, and strategic reserves. This material is in the domain of applied welfare analysis with public finance. Because the theory presented is sufficiently general, it should be of interest to macroeconomists studying aggregate inventories or savings and to those in operations research studying inventory and pricing policies of large firms. (shrink)

The analysis focuses on the manner in which public authorities in Romania have carried out their role of supporting artistic creation, as well as on the institutional and financial instruments put into practice for this purpose. First, it is about exposing the contradictory logics that grounds the public action in supporting arts and artists and understanding the character of the State intervention in the cultural field, pointing up its oscillations between mediator and cultural agent roles, neutral and valorizing instance, (...) artistic and social rationales. Secondly, a comparative analysis points out to what extent the State intervention, especially using as instrument the direct subsidy, responds to the assumed role of supporting artistic creation and if it has contributed and is able to contribute to the development of the artistic sector and, implicitly, to the improvement of the artists’ social and professional status, in the actual context of an internationalized art and a free and global art market. (shrink)

Analyses of market-based reforms of state schooling have occasionally acknowledged positional elements in parental demand, but none has fully examined their nature and implications. Contrary to the normal predictions of orthodox economic analysis, competition in positional markets can result in inefficient outcomes. Predominantly relying upon recent British experience, we examine the extent to which compulsory schooling can be viewed as a positional good and explore its implications for policy. In particular, we consider whether policies targeting increases in (...) parental choice assist a rise in the overall level of educational attainment. (shrink)

Background and Aim: Global trends and national policies have made internationalization and paying attention to the international markets of higher education inevitable on the one hand and becoming a legal requirement of Iranian medical sciences universities on the other hand. Therefore, the main goal of this article was to show, by examining the experience of international marketing of higher education in Tehran University of Medical Sciences, what are the futures of international marketing of higher education in medical sciences? Materials and (...) methods: in this documented data and the views, knowledge and lived experiences of the beneficiaries of the University of Medical Sciences were the basis of the study, and in the following, the methods of documentary studies, trend analysis, brainstorming, expert panel, theme analysis and scenario planning were used. Results: The most important achievement of this article is that among the challenges facing the international marketing of higher education in the University of Medical Sciences, two driving forces have the highest importance and uncertainty in shaping the future of this issue, including: sustainable security and cultural development. Conclusion: The normalization of political and economic relations with the world along with appropriate cultural development inside and outside the university and acceptance of cultural, racial, religious, intellectual, ethnic and gender differences strengthens the marketing process of higher education. In such a situation, the risk of investing in providing international higher education will be reduced. Therefore, the most expensive and the most important uncertainty facing the country's universities in international marketing is the attitude and approach of science and technology governance to the relations and structure governing the international system. (shrink)

Well-intended natural resource policies that ignore the complexity of socio-ecological systems too often threaten local values and opportunities for sustainable development. Upland areas throughout Indonesia provide examples of complex socio-ecological systems experiencing rapid socio-economic and environmental transformations in response to interactions between development policies and local agendas. Broad natural resource policies influence socio-ecological systems in different ways. In some cases, there are converging national and local goals, while in others the goals of national policy conflict with local aspirations. This (...) study identifies how broadscale policies could respond to the unique characteristics of upland areas to optimise development outcomes and avoid unintended risks for people and the landscape. The theory of reflexive modernity is utilised to illustrate how two national policies, the Community Forestry initiative and the Irrigation Reservoir program, largely discount the complexity of local values in the uplands of Pagar Alam, Indonesia. We identify local farmer aspirations through an analysis of development narratives and relate how they are impacted upon by the two policies. Our findings indicate that dominant development goals and associated sustainability pathways diverge in a range of ways from local farmer values and aspirations. We suggest that policymakers take more consideration of four interacting elements, namely: local ecological traits; local values and institutions; the multiple development pathways; and exogenous market drivers that affect local development, to promote sustainability and increase the likelihood of achieving all desired policy outcomes. (shrink)

A highly transmittable and pathogenic viral infection, COVID-19, has dramatically changed the world with a tragically large number of human lives being lost. The epidemic has created psychological resilience and unbearable psychological pressure among patients and health professionals. The objective of this study is to analyze investor psychology and stock market behavior during COVID-19. The psychological behavior of investors, whether positive or negative, toward the stock market can change the picture of the economy. This research explores Shanghai, Nikkei (...) 225, and Dow Jones stock markets from January 20, 2020, to April 27, 2020, by employing principal component analysis. The results showed that investor psychology was negatively related to three selected stock markets under psychological resilience and pandemic pressure. The negative emotions and pessimism urge investors to cease financial investment in the stock market, and consequently, the stock market returns decreased. In a deadly pandemic, the masses were more concerned about their lives and livelihood and less about wealth and leisure. This research contributes to the literature gap of investors’ psychological behavior during a pandemic outbreak. The study suggests that policy-makers should design a plan to fight against COVID-19. The government should manage the health sector’s budget to overcome future crises. (shrink)

At the heart of China's remarkable economic growth is a new economic system, which has emerged out of radical reforms in virtually all areas of economic activity. Understanding this system is the key to understanding the Chinese economy. This book, the culmination of many years of research in Hong Kong and China, is a comprehensive account of these systemic reforms, as well as of their transferability to other economies in transition. The starting-point of Dr Chai's analysis is a careful (...) examination of the structural elements of China's new economic system, focusing particularly on the decentralization of property rights in both the agricultural and industrial sectors. There follows a detailed analysis of changes in the functional elements of the system: its price and financial mechanisms. An assessment of the open-door policy also considers the twin impact of the liberalization of China's foreign trade and foreign investment regimes. Finally, China: Transition to a Market Economy highlights the increasingly important role of the non-state sector in facilitating economic growth and structural transformation. It will be essential reading for any student or researcher concerned with the Chinese economy, or with transition economies in general. (shrink)