Template-Type: ReDIF-Article 1.0 Author-Name: Warren Samuels Author-X-Name-First: Warren Author-X-Name-Last: Samuels Title: Can neoclassical economics be social economics? Abstract: The question is both intriguing and important but, it is argued, impossible of a conclusive single-clear cut answer. Much depends on the specification of each of the schools and of what economics as intellectual inquiry is all about. Among other points, it is recognized that neoclassical economics is already a form of social economics; that both forms of economics are sets of tools and stories and not Truth; that the two schools can be seen as either contradictory or supplementary; that the economy is so multifaceted as to give rise to and sustain divergent sets of tools and stories; that there is a difference between the formal content of neoclassicism and what neoclassisists accept; that both schools have to be understood within a larger context; and that neither school has a single valuation agenda. Journal: Forum for Social Economics Pages: 1-4 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778860 File-URL: http://hdl.handle.net/10.1007/BF02778860 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:1-4 Template-Type: ReDIF-Article 1.0 Author-Name: Ingrid Rima Author-X-Name-First: Ingrid Author-X-Name-Last: Rima Title: Can neoclassical economics be social economics? Abstract: This retrospective suggests that it is best not to generalize that there is invariably a dichotomy between neoclassical and social economics, but to address the question in terms of individual economic thinkers. Belief in the virtues of the market and concern about identifying determinate optimal equilibrium solutions to problems does not necessarily preclude systematic criticism of the excesses of competition and recommendation of controls in the interest of the social whole. While Alfred Marshall, the founder of the neoclassical tradition, was typically reticent about offering policy prescriptions, this is not the case for his successor, A.C. Pigou. Analogously, there are contemporary thinkers, in particular Ronald Coase and William Baumol, who are neoclassical in their search for optimal free market solutions with full cognizance of the sometimes adverse effects of the price system. But the same claim cannot be made on behalf of “new classicals,” for their research program is to construct artificial or “robot” economic systems based on postulates of market clearing and self interest. Their quest for technical sophistication conceals an inherent ideological anti-policy bias. Journal: Forum for Social Economics Pages: 5-13 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778861 File-URL: http://hdl.handle.net/10.1007/BF02778861 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:5-13 Template-Type: ReDIF-Article 1.0 Author-Name: John Elliott Author-X-Name-First: John Author-X-Name-Last: Elliott Author-Name: Hans Jensen Author-X-Name-First: Hans Author-X-Name-Last: Jensen Title: Can neoclassical economics become social economics? Abstract: This essay has both a general and a specific purpose. Its general purpose is to pose the question: Can neoclassical economics be social economics? Its answer to this general question is: Yes, but only if it abandons its methodological soul; that is, by abandoning methodological individualism, positivism, and ahistoricism, and expressly and systematically adopting a methodological perspective which is holistic, normative, and historical. Its specific purpose is to identify and examine the major elements in the economics of one leading figure in the historical development of neoclassical economics who self-consciously attempted to combine, to paraphrase Schumpeter, a neoclassical head with a social economics heart: Alfred Marshall. Journal: Forum for Social Economics Pages: 15-37 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778862 File-URL: http://hdl.handle.net/10.1007/BF02778862 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:15-37 Template-Type: ReDIF-Article 1.0 Author-Name: E. Weintraub Author-X-Name-First: E. Author-X-Name-Last: Weintraub Title: Can neoclassical economics be social economics? A comment Journal: Forum for Social Economics Pages: 39-40 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778863 File-URL: http://hdl.handle.net/10.1007/BF02778863 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:39-40 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Heilbroner Author-X-Name-First: Robert Author-X-Name-Last: Heilbroner Title: Economics as an explanation system: Comments on neoclassical, social and other economic theories Journal: Forum for Social Economics Pages: 41-46 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778864 File-URL: http://hdl.handle.net/10.1007/BF02778864 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:41-46 Template-Type: ReDIF-Article 1.0 Author-Name: Elba Brown-Collier Author-X-Name-First: Elba Author-X-Name-Last: Brown-Collier Title: The fundamental difficulty in basing macroeconomic policy on microeconomic theory Abstract: Microeconomic theory is the theory of individual choice. For macroeconomic problems to be analyzed and solutions proposed with microeconomic theory, such problems must be capable of being defined in individualistic terms. It is argued that individuals can never perceive truly social problems requiring collective action in a manner consistent with the requirements of microeconomic theory. Even reformulating microeconomic theory to allow for interpersonal comparisons of utility, individuals may not be able to perceive the nature of social concerns in a manner necessary to support individually motivated actions bringing forth a solution. Journal: Forum for Social Economics Pages: 47-55 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778865 File-URL: http://hdl.handle.net/10.1007/BF02778865 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:47-55 Template-Type: ReDIF-Article 1.0 Author-Name: Arnold McKee Author-X-Name-First: Arnold Author-X-Name-Last: McKee Title: More on economics and religion Journal: Forum for Social Economics Pages: 57-61 Issue: 1 Volume: 26 Year: 1996 Month: 1 X-DOI: 10.1007/BF02778866 File-URL: http://hdl.handle.net/10.1007/BF02778866 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1996:i:1:p:57-61 Template-Type: ReDIF-Article 1.0 Author-Name: Bruce Malina Author-X-Name-First: Bruce Author-X-Name-Last: Malina Title: Embedded economics: The irrelevance of Christian fictive domestic economy Abstract: When reading the New Testament, the modern historically-minded interpreter would do well to keep in view that early Christian traditions emerged in the advanced agrarian societies of the first-century, eastern Mediterranean. In these societies, kinship and political institutions, roles, and norms determined economic and religious institutional behavior. That is, religious and economic structures were always embedded in either the kin group or the political group. Hence, to understand the “economic” assumptions and behaviors described in the New Testament, the interpreter must develop scenarios that fit the document’s historical and social context; the alternative is a necessarily anachronistic and ethnocentric reading. This essay articulates some basic perspectives entailed in historically and culturally sensitive interpretations of Old Testament and New Testament passages dealing with “economics”. The methodology employed here is a broadly based “social scientific criticism,” focusing on reading theory and cultural anthropology. Journal: Forum for Social Economics Pages: 1-20 Issue: 2 Volume: 26 Year: 1997 Month: 1 X-DOI: 10.1007/BF02770061 File-URL: http://hdl.handle.net/10.1007/BF02770061 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1997:i:2:p:1-20 Template-Type: ReDIF-Article 1.0 Author-Name: Jeff Lipkes Author-X-Name-First: Jeff Author-X-Name-Last: Lipkes Title: Religion and the reception of marginalism in Britain Abstract: Did their religious beliefs play any role in the interest British economists took in marginal utility theory in the final third of the Nineteenth Century? I contrast the beliefs of the leading economists—Mill and his followers—who were unsympathetic to marginalism with the beliefs of those economists who embraced it. Mill’s followers were themselves sharply divided on key methodological questions, and I ask whether or not this division, too, may owe something to differing religious beliefs. I conclude, provisionally, that religion may indeed have played a significant role in determining the methodological predisposition of British economists between 1860 and 1900. Journal: Forum for Social Economics Pages: 21-42 Issue: 2 Volume: 26 Year: 1997 Month: 1 X-DOI: 10.1007/BF02770062 File-URL: http://hdl.handle.net/10.1007/BF02770062 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1997:i:2:p:21-42 Template-Type: ReDIF-Article 1.0 Author-Name: David Gerber Author-X-Name-First: David Author-X-Name-Last: Gerber Title: Law, values and economic thought: Notes for a research agenda Abstract: This essay suggests that law, economic thought and moral/religious values may be related in ways that condition how each functions. It sketches the potential value of investigating this triad by looking at two patterns of interaction and locating each in a specific narrative context taken from the development of competition law in Europe. In one, law functions as a transforming bridge between religious/moral values and economic thought, while in the other the three domains of thought and discourse combine to create structural synergies that dialectically influence each in return. Journal: Forum for Social Economics Pages: 43-51 Issue: 2 Volume: 26 Year: 1997 Month: 1 X-DOI: 10.1007/BF02770063 File-URL: http://hdl.handle.net/10.1007/BF02770063 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1997:i:2:p:43-51 Template-Type: ReDIF-Article 1.0 Author-Name: George Rejda Author-X-Name-First: George Author-X-Name-Last: Rejda Title: Social insurance and social justice—Another look at the antipoverty effects of social insurance programs Abstract: This paper analyzes social insurance programs in the United States to determine if they support the principles of social justice, with special emphasis on the principle of preferential treatment of the poor. The paper also examines the antipoverty effects of social insurance programs. The major conclusions are the following: (1) social insurance programs generally are consistent with the principles of social justice, but parts of certain programs clearly violate the norms of social justice; (2) social insurance programs are especially powerful in reducing the poverty rate and poverty gap for the elderly, but are generally ineffective in reducing the poverty rate for single-parent families with related children under age 18; (3) social insurance programs have only a minor impact in reducing the poverty rate among married-couple families with related children under age 18; and (4) although the Social Security payroll results in a small increase in the poverty rate, social insurance programs are especially effective in reducing income inequality. Journal: Forum for Social Economics Pages: 53-68 Issue: 2 Volume: 26 Year: 1997 Month: 1 X-DOI: 10.1007/BF02770064 File-URL: http://hdl.handle.net/10.1007/BF02770064 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1997:i:2:p:53-68 Template-Type: ReDIF-Article 1.0 Author-Name: Warren Samuels Author-X-Name-First: Warren Author-X-Name-Last: Samuels Author-Name: Sylvia Samuels Author-X-Name-First: Sylvia Author-X-Name-Last: Samuels Title: The university as a social economy: Jane Smiley’sMoo Abstract: Jane Smiley's novel, Moo, is reviewed for the models of social economy portrayed therein. The models are those of the faculty, university governance, and the students, as well as the total social economy and valuation process to which the foregoing contribute. The basic story, portrayed in part through tales of the lives and foibles of individuals, is one of resource allocation, organization and control, distribution of gains and sacrifices, and the working out of the purposes, values, and objectives of an institution. Also covered is the tale of a faculty economist who lives his life along the lines of the self-interested rationality model. Journal: Forum for Social Economics Pages: 69-78 Issue: 2 Volume: 26 Year: 1997 Month: 1 X-DOI: 10.1007/BF02770065 File-URL: http://hdl.handle.net/10.1007/BF02770065 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:26:y:1997:i:2:p:69-78 Template-Type: ReDIF-Article 1.0 Author-Name: Timothy Yeager Author-X-Name-First: Timothy Author-X-Name-Last: Yeager Title: The new institutional economics and its relevance to social economics Abstract: There has been a quiet revolution in economic theory, led by the New Institutionalists. Pioneered by Douglass C. North, this group argues that institutions are the main determinants of economic performance, yet neoclassical economics has no role for institutions. Contrary to many misconceptions, this theory of institutions can be integrated with neoclassical economics, leaving mainstream economic theory in tact, but broader and more relevant. The purpose of this article is twofold. First, the main arguments of the New Institutionalists are summarized. Second, the bridge between institutions and social economics is explored. The article concludes by arguing that the New Institutional approach is fruitful, and that the theory will gradually be integrated with neoclassical economics, until the two merge into a single body of theory. Journal: Forum for Social Economics Pages: 1-17 Issue: 1 Volume: 27 Year: 1997 Month: 1 X-DOI: 10.1007/BF02779067 File-URL: http://hdl.handle.net/10.1007/BF02779067 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1997:i:1:p:1-17 Template-Type: ReDIF-Article 1.0 Author-Name: Wallace Peterson Author-X-Name-First: Wallace Author-X-Name-Last: Peterson Title: Class warfare American style Abstract: The idea of class warfare, which originated with Karl Marx, frightens Americans. But the form of class warfare that exists in America is not Marxian in nature. Rather, its source is hard-right conservatives, who have stood Marx on his head, using the power of government and power in the marketplace to shift the distribution of income and wealth increasingly in favor of those at the top of the income ladder. The shift toward greater inequality has accelerated since 1973. Changes in taxes to favor those at the top have been primarily responsible for this. Turning this trend around rests with heterodox economists, as mainstream economics has no interest in wealth and income distribution. The first step is to restore faith in activist government. Journal: Forum for Social Economics Pages: 19-28 Issue: 1 Volume: 27 Year: 1997 Month: 1 X-DOI: 10.1007/BF02779068 File-URL: http://hdl.handle.net/10.1007/BF02779068 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1997:i:1:p:19-28 Template-Type: ReDIF-Article 1.0 Author-Name: Reuben Slesinger Author-X-Name-First: Reuben Author-X-Name-Last: Slesinger Title: Stewardship and economic organization: The ethical emphasis in business Abstract: Never before has the American business community been challenged to justify and support its ethical standards as today. Hearings before government agencies, attacks by public interest groups, and emphasis on consumer interests have raised serious questions concerning the moral code of industry, the social responsibility of the business community, and what lies ahead for the business firm as it behaved in the past. Somehow much of the public believes that corporate responsibility has been compromised, and that regard for profits has become a way of life that overlooks humane and societal considerations. Management must recognize that it is invested with a definite ethical and moral, as well as legal, responsibility to demonstrate the highest traits of business leadership in its stewardship role. Anything short of such a standard may be catastrophic for the future of the American enterprise system. Journal: Forum for Social Economics Pages: 29-40 Issue: 1 Volume: 27 Year: 1997 Month: 1 X-DOI: 10.1007/BF02779069 File-URL: http://hdl.handle.net/10.1007/BF02779069 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1997:i:1:p:29-40 Template-Type: ReDIF-Article 1.0 Author-Name: James Brock Author-X-Name-First: James Author-X-Name-Last: Brock Author-Name: Joy Jensen Author-X-Name-First: Joy Author-X-Name-Last: Jensen Title: Book reviews Journal: Forum for Social Economics Pages: 41-50 Issue: 1 Volume: 27 Year: 1997 Month: 1 X-DOI: 10.1007/BF02779070 File-URL: http://hdl.handle.net/10.1007/BF02779070 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1997:i:1:p:41-50 Template-Type: ReDIF-Article 1.0 Author-Name: Philippe Méral Author-X-Name-First: Philippe Author-X-Name-Last: Méral Title: Future generations and economic activities: The case of the social discount rate Abstract: The objective of this article is to show the difficulties economists have when they try to answer the following question: What can economists do to promote a fair and “safe” economic development? Or otherwise said: what should we do to promote more equity between generations in an environmental perspective? The purpose of this article is not to develop new tools or policies but to give an overview of some theoretical and practical problems linked to the connection between environment, intergenerational justice and economic activities. The first section focuses on the reasons for the need to develop a reflection about intergenerational equity in the economics of the environment. The second section investigates some related theoretical problems, and the third section shows the practical difficulties economists have when dealing with intertemporal economic decisions; that is, trying to take intergenerational equity into account—in particular the choice of a discount rate for public investments. Journal: Forum for Social Economics Pages: 1-14 Issue: 2 Volume: 27 Year: 1998 Month: 1 X-DOI: 10.1007/BF02802865 File-URL: http://hdl.handle.net/10.1007/BF02802865 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1998:i:2:p:1-14 Template-Type: ReDIF-Article 1.0 Author-Name: Claudia Natenzon Author-X-Name-First: Claudia Author-X-Name-Last: Natenzon Title: What do we one the future? the construction of a better present Abstract: The debt-to-the-future issue is discussed taking into account that it is not simply a poetic or innocent statement but a present complex problem. An analytical approach through the issue of risk and uncertainty might allow us to delimit our reflection. At the same time, it might become the main axis in the reality we face today, since risk, reliability, and uncertainty appear as characteristic features of modern society. Participatory processes, as manifestations of post-normal science, are proposed as a way to cope with uncertainty. Journal: Forum for Social Economics Pages: 15-21 Issue: 2 Volume: 27 Year: 1998 Month: 1 X-DOI: 10.1007/BF02802866 File-URL: http://hdl.handle.net/10.1007/BF02802866 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1998:i:2:p:15-21 Template-Type: ReDIF-Article 1.0 Author-Name: Mohammed Dore Author-X-Name-First: Mohammed Author-X-Name-Last: Dore Title: A libertarian theory of rights and future generations Abstract: The central question in preserving the rights of future generations is how to ground a theory of rights that is also acceptable to the present generation, including staunch Republicans, without self-contradiction. Such a theory of rights consists of the three principles of a minimalist liberatarian theory (that of Robert Nozick), and demonstrates that environmental degradation is a violation of this theory of rights; a theory that is compatible with a free enterprise corporate culture. It is shown that no appeal to liberalism is necessary. It is shown that the case is not based on some ideals of justice but on three politically conservative principles that all modern societies accept as being fundamental to the continuation of those societies. Journal: Forum for Social Economics Pages: 23-35 Issue: 2 Volume: 27 Year: 1998 Month: 1 X-DOI: 10.1007/BF02802867 File-URL: http://hdl.handle.net/10.1007/BF02802867 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1998:i:2:p:23-35 Template-Type: ReDIF-Article 1.0 Author-Name: Megan Maloney Author-X-Name-First: Megan Author-X-Name-Last: Maloney Title: Scarcity in the Danner-MeeksForum exchange: Supplying the demand for clarity Abstract: The dialog on scarcity in the Fall 1995 issue of the Forum exemplifies the problems inherent in cross-disciplinary communication. Careful analysis of this dialog between Peter Danner and M. Douglas Meeks reveals an equivocal use of the crucial term in question: “scarcity.” By pointing out these various shades of meaning and demonstrating the negative effects of linguistic confusion on the Danner-Meeks dialog, this article seeks to show how clarity and precision in the use of the term “scarcity” can open important avenues for further interdisciplinary reflection on this fundamental economic principle. Journal: Forum for Social Economics Pages: 37-55 Issue: 2 Volume: 27 Year: 1998 Month: 1 X-DOI: 10.1007/BF02802868 File-URL: http://hdl.handle.net/10.1007/BF02802868 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1998:i:2:p:37-55 Template-Type: ReDIF-Article 1.0 Author-Name: Anne Winkler Author-X-Name-First: Anne Author-X-Name-Last: Winkler Title: Gender and family issues in the workplace Edited by Francine D. Blau and Ronald G. Ehrenberg Journal: Forum for Social Economics Pages: 57-59 Issue: 2 Volume: 27 Year: 1998 Month: 1 X-DOI: 10.1007/BF02802869 File-URL: http://hdl.handle.net/10.1007/BF02802869 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1998:i:2:p:57-59 Template-Type: ReDIF-Article 1.0 Author-Name: Arnold McKee Author-X-Name-First: Arnold Author-X-Name-Last: McKee Title: A rejoinder to Malina on biblical economics Journal: Forum for Social Economics Pages: 61-65 Issue: 2 Volume: 27 Year: 1998 Month: 1 X-DOI: 10.1007/BF02802870 File-URL: http://hdl.handle.net/10.1007/BF02802870 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:27:y:1998:i:2:p:61-65 Template-Type: ReDIF-Article 1.0 Author-Name: James Brock Author-X-Name-First: James Author-X-Name-Last: Brock Title: Remembering Walter Adams Journal: Forum for Social Economics Pages: 1-3 Issue: 1 Volume: 28 Year: 1998 Month: 1 X-DOI: 10.1007/BF02746411 File-URL: http://hdl.handle.net/10.1007/BF02746411 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1998:i:1:p:1-3 Template-Type: ReDIF-Article 1.0 Author-Name: William Hayes Author-X-Name-First: William Author-X-Name-Last: Hayes Title: Remembering William Waters Journal: Forum for Social Economics Pages: 5-6 Issue: 1 Volume: 28 Year: 1998 Month: 1 X-DOI: 10.1007/BF02746412 File-URL: http://hdl.handle.net/10.1007/BF02746412 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1998:i:1:p:5-6 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O’Boyle Author-X-Name-First: Edward Author-X-Name-Last: O’Boyle Title: The duty of the firm in selling to the poor: A question of the person, justice, and subsidiarity Abstract: Mainstream economists do not address the question of the duty of the firm in selling to the poor. To them the issue is normative, and they have taken pains to delimit economics as a positive discipline. They separate value and fact, and engage themselves in questions relating to what is and not what should be. Forensic economists hold a different view. Firms are liable for damages due not just to deception and fraud but to negligence as well, and governments have consumer protection agencies to examine cases involving the duty of the firm well beyond deception and fraud. Social economists reject the argument based on libertarianism and individualism that the firm has only one purpose: increasing shareholder value. Social economists view the firm as having several constituencies — shareholders, managers, workers, customers, suppliers, neighbors, partners — and duties associated with each one. Those duties are grounded in the virtue of justice: to render to another that which is owed. The firm has a duty to its customers, its suppliers, and its employees deriving from the principle of equivalence; to its shareholders and employees from the principle of distributive justice; to its competitors and neighbors from the principle of contributive justice. This article argues that the firm has a special duty in selling to the poor which is grounded in the person of the one who is poor, the three principles of economic justice, and the principle of subsidiarity. Mainstream economists address poverty apart from consumer behavior as if the two were unrelated. This article brings the two together and in so doing helps throw light on the question of the duty of the firm in selling to the poor. Journal: Forum for Social Economics Pages: 7-21 Issue: 1 Volume: 28 Year: 1998 Month: 1 X-DOI: 10.1007/BF02746413 File-URL: http://hdl.handle.net/10.1007/BF02746413 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1998:i:1:p:7-21 Template-Type: ReDIF-Article 1.0 Author-Name: James Henderson Author-X-Name-First: James Author-X-Name-Last: Henderson Title: The Cambridge challenge to the Ricardian analysis of poverty Abstract: The Ricardian economists’ famous model of economic growth employed the Malthusian population doctrine, the law of diminishing returns, and the classical or iron law of wages. This analysis was based on utilitarian moral philosophy. The gloomy Stationary State conclusions of the Ricardian growth model — maldistribution of income and widespread poverty — were challenged by both economists and moral philosophers. A particularly important challenge was that offered by William Whewell (1794--1866), Professor of Moral Philosophy and the dominant figure at the University of Cambridge. Whewell is remembered today for his early contributions to mathematical economics. This article begins with a review of the Ricardian growth model. Next, Whewell’s system of moral philosophy is examined and the scientific and religious basis of Whewell’s antagonism to Ricardian economics is considered. After considering Whewell’s treatment of agricultural progress, economic classes, and rent doctrine, his own model of economic growth is analyzed. Finally, Whewell’s appraisal of the duty of government to those harmed by development is explored. Journal: Forum for Social Economics Pages: 23-34 Issue: 1 Volume: 28 Year: 1998 Month: 1 X-DOI: 10.1007/BF02746414 File-URL: http://hdl.handle.net/10.1007/BF02746414 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1998:i:1:p:23-34 Template-Type: ReDIF-Article 1.0 Author-Name: Philip Chmielewki Author-X-Name-First: Philip Author-X-Name-Last: Chmielewki Title: Responsibility within civil society and range of urban poverty Abstract: The decentralized, subsidiary action of the urban poor within the neighborhood articulates the responsibility of these citizens within the metropolis. This article makes use of the work of J. Habermas, R. Blank, and W.J. Wilson in order to show how such citizen action on the part of the poor can, in the face of devastation, be resistant, communal, located action. Collaborative engagement assists them in coming to their own vision and in determining their world’s material and symbolic framework. In their collaboration and through the resulting interpretive community, they achieve a responsibility which engages them in caring for the future of the common life. Upon the basis of their action from within their neighborhoods, the urban poor, as they rebuild their neighborhoods, move into civil society so that the entire metropolis may benefit. Journal: Forum for Social Economics Pages: 35-44 Issue: 1 Volume: 28 Year: 1998 Month: 1 X-DOI: 10.1007/BF02746415 File-URL: http://hdl.handle.net/10.1007/BF02746415 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1998:i:1:p:35-44 Template-Type: ReDIF-Article 1.0 Author-Name: Kathy Dean Author-X-Name-First: Kathy Author-X-Name-Last: Dean Author-Name: Kevin Christ Author-X-Name-First: Kevin Author-X-Name-Last: Christ Title: Welfare reform: A game theoretic perspective Abstract: Traditionally, the debate over welfare reform has been infused with passion and driven by ideology, but reform itself has proceeded in careful steps. In recent years, however, the status quo has been dramatically altered as the need for fundamental change has become apparent as the starting point for reform. Using the state of Wisconsin’s aggressive approach to welfare reform as a model of what is administratively possible, we portray reform as an n-person iterated coordination game in order to examine potential outcomes under the larger rubric of ratinal decision-making and utility maximization. In so doing, we demonstrate that game theory offers an alternative framework for dissecting and discussing complex social issues such as welfare reform. Journal: Forum for Social Economics Pages: 45-60 Issue: 1 Volume: 28 Year: 1998 Month: 1 X-DOI: 10.1007/BF02746416 File-URL: http://hdl.handle.net/10.1007/BF02746416 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1998:i:1:p:45-60 Template-Type: ReDIF-Article 1.0 Author-Name: John Powell Author-X-Name-First: John Author-X-Name-Last: Powell Title: Race, poverty, and urban sprawl: Access to opportunities through regional strategies Abstract: This article attempts to demonstrate the need for social justice and urban civil rights advocates to focus on sprawl as well as concentrated poverty. The article posits that these are as much civil rights issues as environmental or land use issues and that sprawl has frustrated civil rights efforts. Indeed, there is strong evidence that racialized concentrated poverty is both a cause and product of sprawl and that, due to this interrelationship, concentrated poverty cannot be addressed without addressing sprawl. To examine this relationship, the author explores how the phenomena of gentrification and cities. Finally, the author argues that concentrated poverty and sprawl are regional issues that can only be addressed on a regional level; therefore, it is a mistake for social justice and urban civil rights advocates to leave the regional discussion to environmentalists and land use planners. Journal: Forum for Social Economics Pages: 1-20 Issue: 2 Volume: 28 Year: 1999 Month: 1 X-DOI: 10.1007/BF02833980 File-URL: http://hdl.handle.net/10.1007/BF02833980 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1999:i:2:p:1-20 Template-Type: ReDIF-Article 1.0 Author-Name: David Rusk Author-X-Name-First: David Author-X-Name-Last: Rusk Title: Saving neighborhoods by saving farms: Metropolitan congregations united for St. Louis challenges urban sprawl Abstract: Critics usually decry urban sprawl's impact on the natural geograph— polluted air and water, vanishing farmlands, forests and open spaces. However, urban sprawl's effect onhuman geography has been even greater, as exemplified by metro St. Louis. With the region's urbanized land growing at seven times the rate of urbanized population, sprawl accelerated the decline of the central city and older, built-out suburbs (St. Louis lost over half its population since mid-century), increased economic segregation and stagnation (10 percent in 20 years by one measure) even as racial barriers were slowly lowered, and widened fiscal disparities among local governments (St. Louis City's property evaluation shrank by over 70 percent in 35 years). Inner-city and older-suburb coalitions, like Metropolitan Congregations United for St. Louis, are now joining environmental advocates to lobby for new state growth management laws. “We cannot win the ‘inside game’ without winning the ‘outside game,’” church leader explained. Journal: Forum for Social Economics Pages: 21-31 Issue: 2 Volume: 28 Year: 1999 Month: 1 X-DOI: 10.1007/BF02833981 File-URL: http://hdl.handle.net/10.1007/BF02833981 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1999:i:2:p:21-31 Template-Type: ReDIF-Article 1.0 Author-Name: Myron Orfield Author-X-Name-First: Myron Author-X-Name-Last: Orfield Title: Metropolitics: A regional agenda for community and stability Abstract: The problem of urban sprawl is explored in terms of its effects on the concentration of poverty, the decline of inner suburbs, and the distribution of economic and other benefits toward the “favored quarters” of a region. Also considered are the costs of the polarization that is symptomatic of urban sprawl, the benefits of regional cooperation and obstacles to attaining that cooperation. Journal: Forum for Social Economics Pages: 33-49 Issue: 2 Volume: 28 Year: 1999 Month: 1 X-DOI: 10.1007/BF02833982 File-URL: http://hdl.handle.net/10.1007/BF02833982 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1999:i:2:p:33-49 Template-Type: ReDIF-Article 1.0 Author-Name: Paul Gottlieb Author-X-Name-First: Paul Author-X-Name-Last: Gottlieb Title: Do economists have anything to contribute to the debate on urban sprawl? (and would anbody listen to them if they did?) Abstract: This essay explores reasons for the relative shortage of work by economists on the subject of urban sprawl. I argue that a correct economic understanding of the sprawl issue is difficult to communicate. Meanwhile, a simplified caricature of economic thinking on sprawl has emerged. It argues that decentralized, low-density development has been chosen by the “free market”, therefore the problem signified by the word sprawl does not exist. This argument, made in the name of economics but not always by economists, has served to polarize the detabe as much as to enlighten it. I propose an alternative understanding of the economics of sprawl that provides common ground for debate among economists, planners, and politicians. Journal: Forum for Social Economics Pages: 51-64 Issue: 2 Volume: 28 Year: 1999 Month: 1 X-DOI: 10.1007/BF02833983 File-URL: http://hdl.handle.net/10.1007/BF02833983 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:28:y:1999:i:2:p:51-64 Template-Type: ReDIF-Article 1.0 Author-Name: D. Tab Rasmussen Author-X-Name-First: D. Author-X-Name-Last: Tab Rasmussen Author-Name: J. Rehg Author-X-Name-First: J. Author-X-Name-Last: Rehg Title: The evolutionary context of human economics Abstract: Non-human animals are faced with intricate choices demanding rational decisions in order to ensure that they gross energetic and nutritional returns sufficient to cover the costs of movement, predator defense, reproduction, and physiological maintenance. The study of these complex relationships (ecology) is similar in many ways to the study of human economics, and the similarity perhaps reflects underlying common mechanisms relevant to the origins of human economy. In the behavioral sciences, extrapolating from non-human primates to humans is potentially hazardous—one runs the risk of excessively anthropomorphizing non-human species, of implying hard-wired genetic control for humans, or of making up “just so” stories to explain human attributes by facile analogy to non-humans. Despite these problems, there is growing recognition that an ability to make intricate, rational, economic-type decisions predicated on context is an attribute shared by many non-human and human beings alike. Palaeoanthropology illuminates the unique evolutionary and cultural history of human beings, which when integrated with ecological and behavioral studies, may allow us to generate hypotheses about origins and distinctive attributes of human economy. Journal: Forum for Social Economics Pages: 1-15 Issue: 1 Volume: 29 Year: 1999 Month: 1 X-DOI: 10.1007/BF02761669 File-URL: http://hdl.handle.net/10.1007/BF02761669 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:1999:i:1:p:1-15 Template-Type: ReDIF-Article 1.0 Author-Name: Mark Lutz Author-X-Name-First: Mark Author-X-Name-Last: Lutz Title: Distinguishing characteristics of ahuman economics Abstract: What are the requirements for an economics that is compatible with, and affirmative of, a meaninful image of human nature? Where does conventional economic theory show its most glaring deficiencies in this respect? What are the core human values that need to inform economic thought capable of guiding us in the design and construction of a more humane economic system? Why is the bulk of contemporary heterodox economic thinking antagonistic to the project of a human-centered economics? These are the basic questions addressed and explored in this article. Journal: Forum for Social Economics Pages: 17-45 Issue: 1 Volume: 29 Year: 1999 Month: 1 X-DOI: 10.1007/BF02761670 File-URL: http://hdl.handle.net/10.1007/BF02761670 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:1999:i:1:p:17-45 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Danner Author-X-Name-First: Peter Author-X-Name-Last: Danner Author-Name: Edward O’Boyle Author-X-Name-First: Edward Author-X-Name-Last: O’Boyle Title: Personalist economics is human economics because it puts the human person at the center of economic affairs Abstract: The hard core of conventional economics consists of a set of four main premises regarding the economy. Simply put they are the law of nature, the individual, certainty, and contracts. Juxtapositioned to these four premises of conventional economics, there are four from personalist economics: institutions, the person, uncertainty and status. In sharp constrast with the overwhelming majority of our contemporaries in economics whose views on economic affairs are grounded in individualism, we think about economic affairs in a market system in terms of personalism. Personalist economics is human economics because it puts the human person at the center of economic affairs. Here our presentation focuses on three central economic activities: consumption, work and leisure. In addressing these activities we emphasize that (1) human persons are materialized spirits and (2) human nature is two dimensional — individual and social. In our remarks we rely heavily on Emmanuel Mounier and John Paul II. Journal: Forum for Social Economics Pages: 47-61 Issue: 1 Volume: 29 Year: 1999 Month: 1 X-DOI: 10.1007/BF02761671 File-URL: http://hdl.handle.net/10.1007/BF02761671 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:1999:i:1:p:47-61 Template-Type: ReDIF-Article 1.0 Author-Name: Albino Barrera Author-X-Name-First: Albino Author-X-Name-Last: Barrera Title: Economic life, rights, and obligations: Perspectives from theological teleology Abstract: Even while acknowledging the autonomy of “laws” specific to economics, theology situates the view of economics as a “means-ends” science of human choices within an unavoidable overarching moral order. After all, economic life is merely part of a much larger personal quest for happiness. Thus, the efficient selection of means for particular ends necessarily takes place within the context of objective standards of economic rights and obligations as part of human nature. The teleological perspectives of theology add much to our understanding of economic life by providing the warrants for these rights and obligations. Journal: Forum for Social Economics Pages: 63-74 Issue: 1 Volume: 29 Year: 1999 Month: 1 X-DOI: 10.1007/BF02761672 File-URL: http://hdl.handle.net/10.1007/BF02761672 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:1999:i:1:p:63-74 Template-Type: ReDIF-Article 1.0 Author-Name: James Horner Author-X-Name-First: James Author-X-Name-Last: Horner Title: A world that works: Building blocks for just and sustainable society Trent Schroyer, Editor Journal: Forum for Social Economics Pages: 75-78 Issue: 1 Volume: 29 Year: 1999 Month: 1 X-DOI: 10.1007/BF02761673 File-URL: http://hdl.handle.net/10.1007/BF02761673 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:1999:i:1:p:75-78 Template-Type: ReDIF-Article 1.0 Author-Name: William Charron Author-X-Name-First: William Author-X-Name-Last: Charron Title: Greeks and games: Forerunners of modern game theory Abstract: Modern game theory is connected with its ancient Greek originals in three respects. 1. The notion of rationality operative in game theory is the formal notion of consistency, whether of beliefs, desires, or choices. Just as Aristotle’s formal logic is the first system for determining the consistency of beliefs, so his practical syllogism is the first device to affirm a deductive connection of rational choice with desire and belief. Modern rational choice theory is the fulfillment of the idea of the deductive practical syllogism. 2. Interest in generating measurements of attitudinal states is found in Plato and Epicurus. Kant revived the project in arguing that such measurements could be generated from an agent’s willingness to assume risk. This is the core of the expected utility theory of von Neumann and Morgenstern. 3. Thucydides had a deep understanding of the logic of individual rational choice in strategic situations, where each agent must make the effort to influence, to anticipate, or to adapt to the decisions of other(s) to serve its own interests. Modern game theory formalizes the sorts of strategic problem Thucydides depicts and analyses in his history. Journal: Forum for Social Economics Pages: 1-32 Issue: 2 Volume: 29 Year: 2000 Month: 1 X-DOI: 10.1007/BF02779101 File-URL: http://hdl.handle.net/10.1007/BF02779101 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:2000:i:2:p:1-32 Template-Type: ReDIF-Article 1.0 Author-Name: David Ellerman Author-X-Name-First: David Author-X-Name-Last: Ellerman Title: The Arrow-Debreu model: How math can hide a fatal conceptual error Abstract: I argue that math, like love, can cover a multitude of sins, and I use the neoclassical object of adoration, the Arrow-Debreu model, as the case in point. It is commonplace that the Arrow-Debreu (AD) model of general equilibrium does not describe the real world, but it is equally commonplace to accept it as representing the pure logic of the competitive capitalist economy in an idealized world free of transactions costs. I show that the AD model fails even as an idealized model; it actually mistakes the logic of pure capitalism. Unlike McKenzie’s model of idealized general equilibrium under constant returns to scale, Arrow and Debreu claim to have shown the existence of competitive equilibrium under decreasing returns to scale and positive pure profits. The AD model (again unlike the McKinzie model) needs to assign the profits to individuals and this is done using the notion of “ownership of the production set.” But this notion suffers from a fatal ambiguity. If Arrow and Debreu interpret it to mean “ownership of a corporation” then a simple argument in the form “labor can hire capital or capital can hire labor” defeats the alleged necessity of assigning residual claimancy to the corporation. A given corporation may or may not end up exploiting a set of production opportunities (represented by a production set) depending on whether it hires in labor and undertakes production or hires out its capital to others (all by assumption at the parametrically given prices). In the latter case, residual claimancy is elsewhere. There is no such property right as “ownership of a production set” in a private property market economy. The legal party which purchases or already owns all the inputs used up in production has the defensible legal claim on the outputs: there is no need to also “purchase the production set.” At any set of prices that allow positive pure profits, anyone in the idealized AD model could bid up the price of the inputs and thus try to reap a smaller but still positive profit. Therefore,pace Arrow and Debreu, there could be no equilibrium with positive pure profits. In the Appendix, the property rights fallacy that afflicts the AD model is shown to also afflict orthodox capital theory and corporate finance theory. Journal: Forum for Social Economics Pages: 33-48 Issue: 2 Volume: 29 Year: 2000 Month: 1 X-DOI: 10.1007/BF02779102 File-URL: http://hdl.handle.net/10.1007/BF02779102 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:2000:i:2:p:33-48 Template-Type: ReDIF-Article 1.0 Author-Name: James Henderson Author-X-Name-First: James Author-X-Name-Last: Henderson Title: Should economists count?—The Dickensian view Abstract: This paper considers Charles Dickens’ charge that by relying too exclusively on statistics, political economists simply cannot understand the human dimension of the questions they examine and the policies they propose to reform economic conditions. Particular attention, is paid to three of Dickens’ writings: his 1836 “Full Report of the First Meeting of the Mudfog Association for the Advancement, of Everything;” his 1853 Christmas story, “The Chimes;” and finally, his 1854 novelHard Times, where these questions were a central theme. Journal: Forum for Social Economics Pages: 49-59 Issue: 2 Volume: 29 Year: 2000 Month: 1 X-DOI: 10.1007/BF02779103 File-URL: http://hdl.handle.net/10.1007/BF02779103 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:2000:i:2:p:49-59 Template-Type: ReDIF-Article 1.0 Author-Name: Patrick Welch Author-X-Name-First: Patrick Author-X-Name-Last: Welch Title: Thomas Carlyle on the use of numbers in economics Abstract: Thomas Carlyle’s criticism of economics goes far beyond his epithet, “Dismal Science.” One aspect of economics that attracted his attention was its use of numbers in both theories and empiricisms. Here is explored his attacks on economist’s use of arithmetic in explaining human behavior, and statistics in addressing the condition of the working class. Journal: Forum for Social Economics Pages: 61-74 Issue: 2 Volume: 29 Year: 2000 Month: 1 X-DOI: 10.1007/BF02779104 File-URL: http://hdl.handle.net/10.1007/BF02779104 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:29:y:2000:i:2:p:61-74 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Nikitin Author-X-Name-First: Pavel Author-X-Name-Last: Nikitin Author-Name: John Elliott Author-X-Name-First: John Author-X-Name-Last: Elliott Title: Freedom and the market Abstract: Those who believe that the free market is positively related to both economic efficiency and individual freedom are prone to regard resistance to the establishment of the global market essentially free from any serious sociopolitical constraint as a politically insignificant expression of impatience, ignorance, and hypocrisy. This article attempts to endow the manifestation of discontent with the status quo evident in public protests in Seattle and Washington DC with political significance through explicating it as an expression of a fundamental conflict between economic efficiency and individual freedom inherent in the global implementation of the principle of self-regulating markets. This analysis of the antiglobalization movement is conducted from the perspective of the theoretical foundation of the evaluation of the dynamics of capitalism by Polanyi, Hayek, and Keynes, and its conclusions are brought to bear upon the validity of their contesting views of the relationship between economic efficiency and individual freedom. Journal: Forum for Social Economics Pages: 1-16 Issue: 1 Volume: 30 Year: 2000 Month: 1 X-DOI: 10.1007/BF02802941 File-URL: http://hdl.handle.net/10.1007/BF02802941 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2000:i:1:p:1-16 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Prasch Author-X-Name-First: Robert Author-X-Name-Last: Prasch Title: Some flaws in the doctrine of classical liberalism: Reviewing Charles Murray’sWhat it means to be a libertarian: A personal interpretation Abstract: In the course of a review of Charles Murray’sWhat It Means to Be a Libertarian, the following paper presents a critique of some of the assumptions underlying the political economy and laissez-faire policy recommendations of modern libertarian thought. After considering the role and importance of asymmetric information, relative immobility of labor, and unemployment in the formation of labor and consumption goods markets, this paper concludes that there is a positive role for the state in the construction of just and efficient markets. The paper argues that a regime of laissez-faire would be most unlikely to result in enhanced economic growth and prosperity, to say nothing of the more extravagant claims that Murray makes, such as a diminution of racism, crime, and welfare dependence, with an enhanced sense of community and family values. Journal: Forum for Social Economics Pages: 17-29 Issue: 1 Volume: 30 Year: 2000 Month: 1 X-DOI: 10.1007/BF02802942 File-URL: http://hdl.handle.net/10.1007/BF02802942 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2000:i:1:p:17-29 Template-Type: ReDIF-Article 1.0 Author-Name: Edward Fitzsimmons Author-X-Name-First: Edward Author-X-Name-Last: Fitzsimmons Author-Name: Beverly Kracher Author-X-Name-First: Beverly Author-X-Name-Last: Kracher Author-Name: Katie Woods Author-X-Name-First: Katie Author-X-Name-Last: Woods Title: Managed care, quality of care, and patient rights Abstract: The growth of managed care has been accompanied by calls for increased government regulation because HMOs and other forms of managed care are seen by the public as more concerned about controlling costs than with protecting the rights of patients to quality care. This paper applies a theory of health care rights and clinical evidence of managed care quality in an analysis of public opinion about managed care. The paper concludes that there is no persuasive evidence that managed care has resulted in a general deterioration in the quality of care and that, with one exception, restrictions imposed by managed care plans are consistent with a theory of health care rights. The paper concludes with the recommendation that public policy should dispense with attempts to fine tune managed care and address an unquestionable violation of health care rights, the failure to guarantee a minimum standard of care to some 43 million Americans. Journal: Forum for Social Economics Pages: 31-46 Issue: 1 Volume: 30 Year: 2000 Month: 1 X-DOI: 10.1007/BF02802943 File-URL: http://hdl.handle.net/10.1007/BF02802943 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2000:i:1:p:31-46 Template-Type: ReDIF-Article 1.0 Author-Name: Sherryl Kasper Author-X-Name-First: Sherryl Author-X-Name-Last: Kasper Author-Name: Gerald Smith Author-X-Name-First: Gerald Author-X-Name-Last: Smith Author-Name: Albino Barrera Author-X-Name-First: Albino Author-X-Name-Last: Barrera Title: Book reviews Journal: Forum for Social Economics Pages: 47-57 Issue: 1 Volume: 30 Year: 2000 Month: 1 X-DOI: 10.1007/BF02802944 File-URL: http://hdl.handle.net/10.1007/BF02802944 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2000:i:1:p:47-57 Template-Type: ReDIF-Article 1.0 Author-Name: Morris Altman Author-X-Name-First: Morris Author-X-Name-Last: Altman Title: A revisionist view of the economic implications of child labor regulations Abstract: The conventional neoclassical wisdom predicts that banning, restricting, or improving the working conditions of child labor will increase the costs of production, thereby diminishing the competitiveness of those jurisdictions that legislate against child labor. However, from a behavioral theoretical perspective this need not be the case when a productivity differential favoring adult labor exists which at least compensates for the pay differential between child and adult labor, and where the increased cost of child labor is compensated for by their increased productivity. In this case, legislating against child labor will not have the negative economic consequences predicted by the conventional wisdom. The cost of such restrictions, however, will then fall largely on the family income of affected families unless compensated for by sufficient increases in real adult wages, increases in the adult labor force participation rate, or other sources of income. Journal: Forum for Social Economics Pages: 1-23 Issue: 2 Volume: 30 Year: 2001 Month: 1 X-DOI: 10.1007/BF02828500 File-URL: http://hdl.handle.net/10.1007/BF02828500 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2001:i:2:p:1-23 Template-Type: ReDIF-Article 1.0 Author-Name: Michael Smith Author-X-Name-First: Michael Author-X-Name-Last: Smith Title: What have the FTA and the NAFTA done to the Canadian labor market? Abstract: A central concern with respect to globalization is its effects on institutions. Institutions are thought to provide protections against the casual damage inflicted by market processes and, in various ways, to contribute toward aggregate economic efficiency. The effects of the Canada-United States Free Trade Agreement and the North American Free Trade Agreement on the Canadian labor market and its institutions provide a useful case study of the effects of globalization because Canadian trade is so heavily concentrated with the United States. In this paper I show that, while the agreements imposed considerable costs on employees in some manufacturing industries, overall, Canadian institutions have not been substantially changed by the agreements. Where those institutions have changed, other factors have been much more important. Journal: Forum for Social Economics Pages: 25-50 Issue: 2 Volume: 30 Year: 2001 Month: 1 X-DOI: 10.1007/BF02828501 File-URL: http://hdl.handle.net/10.1007/BF02828501 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2001:i:2:p:25-50 Template-Type: ReDIF-Article 1.0 Author-Name: Jon Wisman Author-X-Name-First: Jon Author-X-Name-Last: Wisman Title: Creative destruction and labor's options Abstract: New technology, the fall of Eastern European socialism, new international trade agreements, and a resurgence of classical liberalism have greatly augmented the pace of capitalism's creative destruction. The principal benefits of this process have come in the form of new, better, and less-expensive consumer goods. But this process also generates a generalized sense of insecurity that most afflicts labor. Yet, the dominant ideology that has accompanied this latest burst of creative destruction has not been terribly sympathetic to labor's plight. After analyzing the character of this most recent burst of creative destruction, this paper explores the various options available to labor within a generally hostile ideological climate. The principle focus is on how labor's most promising options may not be found primarily in restablishing constrants upon markets, but rather in gaining greater control over production in the form of greater participation in both firm decision-making and ownership. Journal: Forum for Social Economics Pages: 51-76 Issue: 2 Volume: 30 Year: 2001 Month: 1 X-DOI: 10.1007/BF02828502 File-URL: http://hdl.handle.net/10.1007/BF02828502 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2001:i:2:p:51-76 Template-Type: ReDIF-Article 1.0 Author-Name: Wilfred Dolfsma Author-X-Name-First: Wilfred Author-X-Name-Last: Dolfsma Title: Economists as subjects: Toward a psychology of economists Abstract: Economists can reflect on their own field of research and themselves in a number of ways. The philosophy of science has long been the dominant way to reflect on the work of scientists, to be joined in more recent times by both the sociology of science and the rhetoric of science. In this paper I do not argue that these approaches are wrong, but I do argue that they should be complemented with a study of the individual scientist. A psychology of economists, in other words, is called for. One important theory in recent psychological literature (social learning/cognitive theory) is introduced as an instance to indicate what kind of suggestions concerning the reflective position of individual scientists might be derived. It would be preferable from this perspective that scientists set high standards for themselves, have an open mind to what happens in different disciplines, and set high standards by which to judge others. Then follows a discussion where some potential objections to the approach in general, or to the specific psychological theory in particular, are refuted. Journal: Forum for Social Economics Pages: 77-88 Issue: 2 Volume: 30 Year: 2001 Month: 1 X-DOI: 10.1007/BF02828503 File-URL: http://hdl.handle.net/10.1007/BF02828503 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:30:y:2001:i:2:p:77-88 Template-Type: ReDIF-Article 1.0 Author-Name: William Dugger Author-X-Name-First: William Author-X-Name-Last: Dugger Title: Remembering John E. Elliott Journal: Forum for Social Economics Pages: 1-2 Issue: 1 Volume: 31 Year: 2001 Month: 1 X-DOI: 10.1007/BF02746856 File-URL: http://hdl.handle.net/10.1007/BF02746856 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2001:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O’Boyle Author-X-Name-First: Edward Author-X-Name-Last: O’Boyle Title: Remembering Joseph M. Becker, S.J. Journal: Forum for Social Economics Pages: 3-6 Issue: 1 Volume: 31 Year: 2001 Month: 1 X-DOI: 10.1007/BF02746857 File-URL: http://hdl.handle.net/10.1007/BF02746857 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2001:i:1:p:3-6 Template-Type: ReDIF-Article 1.0 Author-Name: Muhammad Islam Author-X-Name-First: Muhammad Author-X-Name-Last: Islam Author-Name: Wassim Shahin Author-X-Name-First: Wassim Author-X-Name-Last: Shahin Title: Applying economic methodology to the war on terrorism Abstract: The application of economic methodology to the problem of terrorism is discussed. Theoretical and empirical results are discussed with particular focus on the September 11 attack and the retaliatory response by the United States. Economists have relied on the rational agent model to derive testable hypotheses regarding the behavior of terrorists. The rational agent model postulates that terrorists respond to incentives, including media publicity, and the model predicts that when the net marginal benefit from one type of terrorist activity is diminished, terrorists will substitute into alternative modes of terrorism. Empirical results demonstrating that such substitutions indeed occur are discussed. Therefore, policy designed to reduce a particular form of terrorism, such as increased airport security to prevent airplane hijackings, may simply result in terrorists choosing alternative modes of terrorism. Empirical evidence demonstrating that terrorism is cyclical in nature is also discussed. Evidence on substitution and cycles suggests that following temporary reduction in terrorist activity after retaliation against terrorists and their infrastructure, terrorists are able to successfully regroup and attack using alternative means. Therefore, the current US focus on fighting terrorism on all fronts and over the long haul is the correct approach. Journal: Forum for Social Economics Pages: 7-26 Issue: 1 Volume: 31 Year: 2001 Month: 1 X-DOI: 10.1007/BF02746858 File-URL: http://hdl.handle.net/10.1007/BF02746858 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2001:i:1:p:7-26 Template-Type: ReDIF-Article 1.0 Author-Name: Milan Zafirovski Author-X-Name-First: Milan Author-X-Name-Last: Zafirovski Title: Sociology of economics or sociology of economy? theoretical-methodological arguments for sociological economics Abstract: This paper makes a proposal for reintroducing sociological or social economics into contemporary economic science. Such a reintroduction is proposed to be substantive, by analyzing the social structuring of the economy, and formal, by including sociological/social economics in the current (JEL) classification system of economic disciplines (code A.15). Both epistemological and ontological arguments can be presented to support the proposal. Epistemological arguments invoke the presence of essential components of sociological economics in the development of economic thought, and ontological arguments stress the role of social factors in economic life. In this paper I present primarily epistemological (theoretical-methodological) arguments for sociological economics, and secondarily ontological ones. I show that the present designation, sociology of economics, is something different from sociological or social economics in that the former refers to economic epistemology (knowledge) and the latter to economic ontology (reality). I conclude that, in addition to a sociology of economic science, we need a sociology of economic life. Journal: Forum for Social Economics Pages: 27-58 Issue: 1 Volume: 31 Year: 2001 Month: 1 X-DOI: 10.1007/BF02746859 File-URL: http://hdl.handle.net/10.1007/BF02746859 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2001:i:1:p:27-58 Template-Type: ReDIF-Article 1.0 Author-Name: Donald Wellington Author-X-Name-First: Donald Author-X-Name-Last: Wellington Author-Name: Sourushe Zandvakili Author-X-Name-First: Sourushe Author-X-Name-Last: Zandvakili Title: The globalization of poverty according to Malthus Abstract: Malthus began publishing in economics two centuries ago. His thoughts on income distribution and poverty are profound. Recently, more original findings on these issues have appeared, but can be viewed as rediscovering Malthus. His thought remains germane to the present debate on poverty and his foresight deserves respect. Journal: Forum for Social Economics Pages: 59-71 Issue: 1 Volume: 31 Year: 2001 Month: 1 X-DOI: 10.1007/BF02746860 File-URL: http://hdl.handle.net/10.1007/BF02746860 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2001:i:1:p:59-71 Template-Type: ReDIF-Article 1.0 Author-Name: Kishor Thanawala Author-X-Name-First: Kishor Author-X-Name-Last: Thanawala Title: Economics, environment and equity Abstract: Although allocation of scarce resources among alternative uses to satisfy unlimited human wants in the positivist framework (a la Lionel Robbins)has been a focus of economists for a long time, awareness of resource scarcity in the ecological sense and discussion of the relevant issues in the context of distributive justice, as well as intergenerational equity, are of more recent vintage. A perspective encompassing judicious use of natural resources inevitably leads to a discussion which includes ecological, economic and ethical dimensions. This essay examines the contributions included in a recent book. Journal: Forum for Social Economics Pages: 73-79 Issue: 1 Volume: 31 Year: 2001 Month: 1 X-DOI: 10.1007/BF02746861 File-URL: http://hdl.handle.net/10.1007/BF02746861 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2001:i:1:p:73-79 Template-Type: ReDIF-Article 1.0 Author-Name: Tony Fu-Lai Yu Author-X-Name-First: Tony Author-X-Name-Last: Fu-Lai Yu Title: The economics of Frank H. Knight: An Austrian interpretation Abstract: This paper interprets, in the modern Austrian economics perspective, Frank H. Knight's three core contributions; namely, economic methodology, theories of human action, uncertainty and entrepreneurship. Though Knight is regarded as one of the founding fathers of the Chicago School of economics, this paper argues that Knight's contributions are essentially Austrian. Influenced by William James, Henri Bergson and Max Weber, Knight's subjectivist economics can be seen as a link between Carl Menger and Ludwig von Mises in the history of Austrian subjectivism. This paper further suggests that Knight may be more appropriately located in the Austrian-German School, for the reason that the term “Austrian School” is too narrow to accommodate german influences. This paper concludes that Knight's legacies have left much to be appreciated by neoclassical mainstream economists in general and Austrian economists in particular. Journal: Forum for Social Economics Pages: 1-23 Issue: 2 Volume: 31 Year: 2002 Month: 1 X-DOI: 10.1007/BF02779057 File-URL: http://hdl.handle.net/10.1007/BF02779057 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2002:i:2:p:1-23 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O'Boyle Author-X-Name-First: Edward Author-X-Name-Last: O'Boyle Title: Contributions of German and American jesuits to economics: The last 100 years Abstract: This article focuses on the contributions of six economists schooled in the Jesuit tradition. Four are Jesuit priests: Heinrich Pesch and Oswald von Nell-Breuning who are German, and Bernard Dempsey and Joseph Becker who are American. Two others, Goetz Briefs and William Waters, are lay persons who are referred to as “Jesuits without collars.” Five have direct ties to one another. Von Nell Breuning was a student of Pesch, as was Briefs. Waters was a student of Briefs, and Dempsey was influenced by Pesch and von Nell-Breuning. All five are solidarist economists who think about economics and economic affairs in a distinct way which originates with Pesch. Today they would be called personalist economists. The distinctive work of these six Jesuits is barely visible in the ranks of academic economists. Their contributions should be highlighted before they are lost forever to those who sense there is something inadequate about mainstream economics. Journal: Forum for Social Economics Pages: 25-43 Issue: 2 Volume: 31 Year: 2002 Month: 1 X-DOI: 10.1007/BF02779058 File-URL: http://hdl.handle.net/10.1007/BF02779058 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2002:i:2:p:25-43 Template-Type: ReDIF-Article 1.0 Author-Name: Mathew Forstater Author-X-Name-First: Mathew Author-X-Name-Last: Forstater Title: “Jobs for all”: Another dream of the rev. Dr. Martin Luther King, Jr. Abstract: The Rev. Dr. Martin Luther King, Jr. wrote extensively on economic matters, especially unemployment policy. King supported a federal job guarantee for anyone ready and willing to work. He believed it would provide employment and income security, as well as increased public and community services. Dr. King's writings on employment are reviewed and discussed. His policy proposals are just as relevant today as they were when they were first put forward some forty years ago. Journal: Forum for Social Economics Pages: 45-53 Issue: 2 Volume: 31 Year: 2002 Month: 1 X-DOI: 10.1007/BF02779059 File-URL: http://hdl.handle.net/10.1007/BF02779059 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2002:i:2:p:45-53 Template-Type: ReDIF-Article 1.0 Author-Name: Barry Keating Author-X-Name-First: Barry Author-X-Name-Last: Keating Title: Policy guidelines for providing telecommunication access in developing economies Abstract: Economic literature and historical experience indicate a causal relationship between telecommunications and a country's development. This article, using structural microeconomic theory, outlines policies that will contribute to optimal accessibility and penetration of new telecommunication technology. Deregulation, privatization, licensing, and interconnection are discussed. Grass roots organizations and the urban/suburban “universal access” problem are included in a section on the digital divide. Journal: Forum for Social Economics Pages: 55-68 Issue: 2 Volume: 31 Year: 2002 Month: 1 X-DOI: 10.1007/BF02779060 File-URL: http://hdl.handle.net/10.1007/BF02779060 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2002:i:2:p:55-68 Template-Type: ReDIF-Article 1.0 Author-Name: Alison Aughinbaugh Author-X-Name-First: Alison Author-X-Name-Last: Aughinbaugh Author-Name: Deborah Figart Author-X-Name-First: Deborah Author-X-Name-Last: Figart Author-Name: Peter Danner Author-X-Name-First: Peter Author-X-Name-Last: Danner Title: Book reviews Journal: Forum for Social Economics Pages: 69-77 Issue: 2 Volume: 31 Year: 2002 Month: 1 X-DOI: 10.1007/BF02779061 File-URL: http://hdl.handle.net/10.1007/BF02779061 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:31:y:2002:i:2:p:69-77 Template-Type: ReDIF-Article 1.0 Author-Name: Nancy Bertaux Author-X-Name-First: Nancy Author-X-Name-Last: Bertaux Author-Name: Hervé Queneau Author-X-Name-First: Hervé Author-X-Name-Last: Queneau Title: The social economics of job security Abstract: Using a social economics perspective, this essay examines the positive and negative effects of job security, insecurity and the perceptions thereof on the welfare of workers, organizations, and society, as well as policy options that could alleviate the negative socio-economic consequences of job insecurity. The essay questions perceived job insecurity as a device to increase worker effort, both on efficiency and ethical grounds. It also suggests that increased perceptions of job insecurity have adversely affected workers' well-being and have undesirable macroeconomic and social effects. Public policy makers and researchers should examine ways to minimize the negative consequences associated with involuntary job loss. They should also consider to what extent both limiting firms' ability to layoff workers and providing incentives to firms that downsize to use alternatives to layoffs are socially desirable. Journal: Forum for Social Economics Pages: 1-19 Issue: 1 Volume: 32 Year: 2002 Month: 1 X-DOI: 10.1007/BF02747262 File-URL: http://hdl.handle.net/10.1007/BF02747262 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2002:i:1:p:1-19 Template-Type: ReDIF-Article 1.0 Author-Name: Paul Killerby Author-X-Name-First: Paul Author-X-Name-Last: Killerby Author-Name: Joe Wallis Author-X-Name-First: Joe Author-X-Name-Last: Wallis Title: Social capital and social economics Abstract: The “discovery” of social capital in the early 1990s led to an upsurge of research into the economic impact of social cohesion and governmental effectiveness. This paper outlines key developments in the social capital literature over the past 13 years. It then examines theory and evidence of the links between social cohesion, quality of governance, economic performance and human welfare. The literature indicates that social capital makes a measurable contribution to economic development and overall wellbeing, particularly in developing countries. Partly in response to this emerging body of evidence, there has been increased interest in the application of community development principles to economic development initiatives. This paper argues that the advent of social capital theory represents a partial convergence between social economics and mainstream economics, and signifies an increased acceptance that economic activity cannot be meaningfully “disembedded” from social and political context. Journal: Forum for Social Economics Pages: 21-32 Issue: 1 Volume: 32 Year: 2002 Month: 1 X-DOI: 10.1007/BF02747263 File-URL: http://hdl.handle.net/10.1007/BF02747263 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2002:i:1:p:21-32 Template-Type: ReDIF-Article 1.0 Author-Name: Mieke Meurs Author-X-Name-First: Mieke Author-X-Name-Last: Meurs Author-Name: Stanka Dobreva Author-X-Name-First: Stanka Author-X-Name-Last: Dobreva Author-Name: Veska Kouzhouharova Author-X-Name-First: Veska Author-X-Name-Last: Kouzhouharova Title: Transition to market economics: Employment and informal activity in rural areas Abstract: According to the neo-liberal model, the high levels of unemployment and collapsing real wages of transition will reallocate labor to new activities. But whether and how households actually reallocate labor is the subject of growing debate. We use survey data from Bulgaria to develop a typology of rural households based on their labor allocation characteristics. We find a diversity of outcomes. A significant share of households experience no change in labor allocation, some shift labor to own commercial enterprises, but a significant minority are displaced from the emerging market economy. Potential for informal activity among these households appears limited. Of great concern is the regional concentration of such households. Journal: Forum for Social Economics Pages: 33-42 Issue: 1 Volume: 32 Year: 2002 Month: 1 X-DOI: 10.1007/BF02747264 File-URL: http://hdl.handle.net/10.1007/BF02747264 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2002:i:1:p:33-42 Template-Type: ReDIF-Article 1.0 Author-Name: James Weaver Author-X-Name-First: James Author-X-Name-Last: Weaver Title: Globalization with a human face Abstract: This paper has six parts. The first part defines globalization. The second discusses globalization eras. The third discusses the irreversibility and inevitability of globalization. The fourth section discusses the benefits and costs of globalization. The fifth section asks what is to be done. The sixth section contains my conclusions. Journal: Forum for Social Economics Pages: 43-50 Issue: 1 Volume: 32 Year: 2002 Month: 1 X-DOI: 10.1007/BF02747265 File-URL: http://hdl.handle.net/10.1007/BF02747265 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2002:i:1:p:43-50 Template-Type: ReDIF-Article 1.0 Author-Name: Julian Reiss Author-X-Name-First: Julian Author-X-Name-Last: Reiss Title: Causality in macroeconomics Kevin D. Hoover Journal: Forum for Social Economics Pages: 51-54 Issue: 1 Volume: 32 Year: 2002 Month: 1 X-DOI: 10.1007/BF02747266 File-URL: http://hdl.handle.net/10.1007/BF02747266 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2002:i:1:p:51-54 Template-Type: ReDIF-Article 1.0 Author-Name: Mark White Author-X-Name-First: Mark Author-X-Name-Last: White Title: Kantian dignity and social economics Abstract: Many social economists endorse the ethics of Immanuel Kant, specifically his emphasis on the dignity of humanity and the equal respect due all persons. Based on these tenets, Kant mandates a social outlook in which concern for others, characterized by negative duties of respect and positive duties of beneficence, are broadly required of all rational agents. However, some of the positions that social economists derive from Kantian dignity actually violate it, such as support for a welfare state and opposition to the institution of wage employment. I will show that both of these positions are inconsistent with the traditional understanding of Kantian dignity, suggesting that social economists should either ground their positions on a different concept of dignity, or revise them to remain consistent with Kant's specific sense of dignity. Journal: Forum for Social Economics Pages: 1-11 Issue: 2 Volume: 32 Year: 2003 Month: 1 X-DOI: 10.1007/BF02779075 File-URL: http://hdl.handle.net/10.1007/BF02779075 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2003:i:2:p:1-11 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Prasch Author-X-Name-First: Robert Author-X-Name-Last: Prasch Title: Are economists amoral? Contemporary economic thought and the distinction between values and prices Abstract: Underlying the “clash of cultures” between economists and the rest of the citizenry is a way of thinking about rationality, consumer choice and policy that periodically reveals a confusion between values and prices on the side of economists. Lawrence Summers' famous memo on the underpollution of the Third World was a case in point. Sadly, this was not an isolated incident. On the contrary, mainstream economists are conditioned, by the categories they employ, to regularly conflate value with price. This is particularly the case when it comes to theorizing about consumer choice and the meaning(s) to be ascribed to the set of market prices that emerge from the aggregate of these choices. This paper explores the dimensions of the problem and suggests other frameworks of choice that can enrich our understanding of consumer behavior and the significance of the set of prices that emerge in the market. Journal: Forum for Social Economics Pages: 13-22 Issue: 2 Volume: 32 Year: 2003 Month: 1 X-DOI: 10.1007/BF02779076 File-URL: http://hdl.handle.net/10.1007/BF02779076 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2003:i:2:p:13-22 Template-Type: ReDIF-Article 1.0 Author-Name: Clive Beed Author-X-Name-First: Clive Author-X-Name-Last: Beed Title: The relevance of christian fictive domestic economy Abstract: The theologian, Bruce Malina, argued in this journal (1997) that the Bible is not relevant to economics in the contemporary world. This paper contends the contrary. A body of economists and social theologians hold that a set of consistent socio-economic principles and ethics underlying the long history of the Biblical texts can be applied to the modern world, and are so intended to apply. An assumption of this group is that the Bible depicts the word of God interpreted and ultimately written down by people in their day and age. It is the socio-economic warrants in principle contained in this material that are relevant today. The argument here has two aspects. One questions Malina, concluding that he does not sustain his conclusions. The second aspect is to illustrate something of the methodology and conclusions of the economist/social theologian group that asserts the relevance of Biblical principle to contemporary society. Journal: Forum for Social Economics Pages: 23-39 Issue: 2 Volume: 32 Year: 2003 Month: 1 X-DOI: 10.1007/BF02779077 File-URL: http://hdl.handle.net/10.1007/BF02779077 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2003:i:2:p:23-39 Template-Type: ReDIF-Article 1.0 Author-Name: Kazuya Ishii Author-X-Name-First: Kazuya Author-X-Name-Last: Ishii Title: An economics for development and peace: With a particular focus on the thought of Ernst F. Schumacher Abstract: Ernst F. Schumacher'sSmall is Beautiful seems thoroughly persuasive even at the turn of the century, as reckless material development is increasingly recognized as a threat to peace. This article describes how his thought was influenced by Mahatma Gandhi. Gandhi's and Schumacher's ways of thinking are considered as alternative development theorees, different from any of those stemming from laissez-faire economics or Marxism. The formulation and proliferation of Schumacher's ideas about intermediate technologies are traced in both Indian and global contexts, to evaluate their sufficiency as bases for development. Moreover, their implications for contemporary economics are discussed, with the assistance of Amartya K. Sen's concepts of “capability,” “sympathy” and “commitment,” which are in clear contrast to the conventional concept of “economic man.” Finally, it is concluded that Schumacher's alternative development theories and practices, as well as Sen's economics, may play important roles in development and peace studies in the 21st century. Journal: Forum for Social Economics Pages: 41-55 Issue: 2 Volume: 32 Year: 2003 Month: 1 X-DOI: 10.1007/BF02779078 File-URL: http://hdl.handle.net/10.1007/BF02779078 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2003:i:2:p:41-55 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O'Boyle Author-X-Name-First: Edward Author-X-Name-Last: O'Boyle Title: Income gap between poor families and others: Signs of individual freedom or proof of social inequality? Abstract: In 2001 the mean income deficit for poor families was $7,231. The mean income surplus for nonpoor families was $57,841. The sum of those two estimates—$65,072—represents what we call the family income gap. Between 1993 and 2000—the period marking the longest expansion in U.S. economic history—the real family income gap grew on average by $1,143 every year. Journal: Forum for Social Economics Pages: 57-65 Issue: 2 Volume: 32 Year: 2003 Month: 1 X-DOI: 10.1007/BF02779079 File-URL: http://hdl.handle.net/10.1007/BF02779079 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:32:y:2003:i:2:p:57-65 Template-Type: ReDIF-Article 1.0 Author-Name: Laura Taylor Author-X-Name-First: Laura Author-X-Name-Last: Taylor Author-Name: Mary Wrenn Author-X-Name-First: Mary Author-X-Name-Last: Wrenn Title: Forging new relationships: Social capital in the transistion Abstract: A theory of transitional economies is now emerging, much of which is evolutionary-institutional in nature and hence very critical of the naïveté of socalled shock therapy and the economic reasoning that supported it. Indeed it has become apparent that changing the formal rules of the game, difficult as this may be, is far from sufficient. The informal rules of the game, the customs and norms of the social order, are critical to the operation of the economy. These informal rules are often implicit or tacit, and therefore very difficult to reach on a policy level. This paper seeks to apply the concept of social capital to the transitional economic process using the former Soviet republic of Russia to draw attention to the complex issues of governance and legitimacy that are too often neglected in economic discourse. Journal: Forum for Social Economics Pages: 1-11 Issue: 1 Volume: 33 Year: 2003 Month: 1 X-DOI: 10.1007/BF02778961 File-URL: http://hdl.handle.net/10.1007/BF02778961 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2003:i:1:p:1-11 Template-Type: ReDIF-Article 1.0 Author-Name: David Ellerman Author-X-Name-First: David Author-X-Name-Last: Ellerman Title: The responsibility principle and the democratic firm Abstract: The recent Enron-type scandals have reinvigorated the corporate governance debate. The purpose of this paper is to situate that debate in a much older and more fundamental debate about the organization of production. This paper presents a modern reconstruction of a property rights argument for the democratic firm (a firm whose legal members are the people working in it). The old “fruits of their labor” argument is reformulated using the ordinary responsibility principle that legal responsibility is to be imputed to whoever is in fact responsible. Far from conflicting with private property, the responsibility principle provides grounds for the just appropriation of private property. However, there is a conflict with the legal contract for the renting of human beings, the employment contract, in view of thede facto nontransferability of responsibility. This recognition of the invalidity of the employment contract can be independently arrived at using a modern reconstruction of an inalienable rights argument from the Reformation and Enlightenment. Finally these arguments are applied to the corporate governance debate to suggest a rechartering of corporations so that shareholders become debt-holders and the people working in a corporation become its legal members. Journal: Forum for Social Economics Pages: 13-22 Issue: 1 Volume: 33 Year: 2003 Month: 1 X-DOI: 10.1007/BF02778962 File-URL: http://hdl.handle.net/10.1007/BF02778962 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2003:i:1:p:13-22 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Dimand Author-X-Name-First: Robert Author-X-Name-Last: Dimand Author-Name: Indra Hardeen Author-X-Name-First: Indra Author-X-Name-Last: Hardeen Title: Barbara Wooteen's lament for economics and vision of a social economics Abstract: The British social economist Barbara Wootton (1897--1988), engaged in a searching critique of the narrowness and abstraction of Neoclassical orthodoxy in herLament for Economics (1938), which was provoked by Robbins'Essay on the Nature and Significance of Economic Science, and in her reply to Hayek'sThe Road to Serfdom. Her participation in Beveridge's wartime “brains trust” resulted in her Fabian Society pamphlet,Full Employment (1943). This paper examines Wootton's critique of Neoclassical Economics; her vision of a broader, more realistic social economics; her attempts to apply that vision of social economics inThe Social Foundations of Wages Policy (1955), andIncomes Policy (1974), and parallels between her work and North American developments in social economics. *** DIRECT SUPPORT *** A03DH034 00003 Journal: Forum for Social Economics Pages: 23-32 Issue: 1 Volume: 33 Year: 2003 Month: 1 X-DOI: 10.1007/BF02778963 File-URL: http://hdl.handle.net/10.1007/BF02778963 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2003:i:1:p:23-32 Template-Type: ReDIF-Article 1.0 Author-Name: Jouni Paavola Author-X-Name-First: Jouni Author-X-Name-Last: Paavola Title: Environmental decisions and theories of justice: Implications for economic analysis and policy practice Abstract: This article examines the implications of pluralism for environmental decision-making and governance in the globalizing world. It first discusses how environmental governance is needed to deal with environmental conflicts and interdependencies caused by the attributes of environmental resources and their users. The article argues that globalization engenders large-scale interdependencies and conflicts that involve increasingly heterogeneous individuals and organizations. The article suggests that the resulting radical pluralism will underline the role of justice in providing reasons and justifications for collective environmental decisions and will shift emphasis from distributive justice to procedural justice. The article concludes by discussing solutions that would take justice concerns into account in environmental governance. *** DIRECT SUPPORT *** A03DH034 00004 Journal: Forum for Social Economics Pages: 33-43 Issue: 1 Volume: 33 Year: 2003 Month: 1 X-DOI: 10.1007/BF02778964 File-URL: http://hdl.handle.net/10.1007/BF02778964 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2003:i:1:p:33-43 Template-Type: ReDIF-Article 1.0 Author-Name: Rudy Fichtenbaum Author-X-Name-First: Rudy Author-X-Name-Last: Fichtenbaum Title: Is there a natural level of capacity utilization? Abstract: Previous studies of the Phillips Curve using capacity, utilization have estimated NAIRCU to be in the neighborhood of 82%. These studies estimate NAIRCU by imposing the restriction that there is no stable long run relationship between capacity utilization and the rate of inflation. The authors of these studies test the validity of this restricted model by estimating a model of the Phillips Curve, which has no supply-side variables. However, the actual estimates of NAIRCU are derived from restricted models, which include supply side variables. This article replicates these findings and then tests the validity of the restriction using a correctly specified model. An important finding is that the restriction is not valid and therefore the models used to produce estimates of NAIRCU are misspecified. Our findings call into question the existence of a vertical long run Phillips Curve. The implications of our findings are that the FED was overly cautious in raising interest rates to slow the economy and that the policy of pursuing “full employment” is still viable. Journal: Forum for Social Economics Pages: 45-62 Issue: 1 Volume: 33 Year: 2003 Month: 1 X-DOI: 10.1007/BF02778965 File-URL: http://hdl.handle.net/10.1007/BF02778965 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2003:i:1:p:45-62 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Danner Author-X-Name-First: Peter Author-X-Name-Last: Danner Title: The economic spin Abstract: In business today “spinning” typically has a negative connotation. But it's more basic meaning, as a counter-twisting action producing multipurpose threads, actually better describes economic acts and relations. It especially illustrates Adam Smith's basic insight into the economic act as blending the mutual self-interests of buyers and sellers, of workers and employers, of borrowers and lenders. This meaning is obviously evident in private economic actions but it is also implicit in public undertakings. Indeed, just a few “look-sees” into the histories of national economies demonstrate the conclusion that where economic “weaving and spinning” interests are most effective, their economies evolve most productively and where not, they don’t. Journal: Forum for Social Economics Pages: 1-17 Issue: 2 Volume: 33 Year: 2004 Month: 1 X-DOI: 10.1007/BF02745494 File-URL: http://hdl.handle.net/10.1007/BF02745494 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2004:i:2:p:1-17 Template-Type: ReDIF-Article 1.0 Author-Name: Charles Wilber Author-X-Name-First: Charles Author-X-Name-Last: Wilber Title: Ethics, human behavior and the methodology of social economics Abstract: Social economists differ among themselves but are united in rejecting the rational actor model. They insist that individuals are more than economic actors; they arepersons with ethical values who live in community. That agreement over fundamentals leads social economists to embrace a methodological approach that differs substantially from the mainstream of economics. They (sometimes explicitly but usually implicitly), engage in a special form of storytelling known in the philosophy of social science as pattern modeling. Instead of using a pre-existing theoretical framework, such as rational choice theory, to logically construct a story, this type of story is constructed empirically from the bottom up through the use of case studies. The article concludes with a specific consideration of Albert Hirschman's methodology to illustrate the storytelling approach of a first rate and well-recognized social economist. Journal: Forum for Social Economics Pages: 19-50 Issue: 2 Volume: 33 Year: 2004 Month: 1 X-DOI: 10.1007/BF02745495 File-URL: http://hdl.handle.net/10.1007/BF02745495 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2004:i:2:p:19-50 Template-Type: ReDIF-Article 1.0 Author-Name: Phillip O’Hara Author-X-Name-First: Phillip Author-X-Name-Last: O’Hara Title: A new family-community social structure Abstract: The purpose of this paper is to examine whether a new family-community social structure of accumulation (FSSA) has emerged in the Unites States to contribute to long-wave growth and development through the early decades of the 21st century. Institutions that promote system-functions or public goods are required for sustainable growth and development. Three dimensions of the potential FSSA institutions are examined in this paper, within the context of the systemic circuit of social capital: (a) stability within families, (b) trust and association in the community, and (c) the degree of relative equality. Overall, the findings are that a new FSSA does not currently operate in the US because the emerging family type is not promoting sufficient stability, trust has diminished to low levels, and structural inequality has continued to rise. These factors have negatively impacted long-term economic performance through several transmission mechanisms, which are analyzed in the paper. Journal: Forum for Social Economics Pages: 51-80 Issue: 2 Volume: 33 Year: 2004 Month: 1 X-DOI: 10.1007/BF02745496 File-URL: http://hdl.handle.net/10.1007/BF02745496 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2004:i:2:p:51-80 Template-Type: ReDIF-Article 1.0 Author-Name: Matthew Isham Author-X-Name-First: Matthew Author-X-Name-Last: Isham Title: A quantification of minimum floor space requirements Abstract: In order to live and maintain life, people require some amount of shelter as protection against nature's elements. This paper investigates minimum areas required for shelter. To this end, standards of floor space for households consisting of one to five persons and available from the World Wide Web were obtained for locations in the United States, Canada, Scotland, England, Denmark, India, Hong Kong, Thailand and refugee camps. While some variation exists among regions, particularly for larger households, plotted data indicate a convergence to a minimum requirement of about 140 square feet for single-person households Journal: Forum for Social Economics Pages: 81-90 Issue: 2 Volume: 33 Year: 2004 Month: 1 X-DOI: 10.1007/BF02745497 File-URL: http://hdl.handle.net/10.1007/BF02745497 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:33:y:2004:i:2:p:81-90 Template-Type: ReDIF-Article 1.0 Author-Name: Raymond Saulnier Author-X-Name-First: Raymond Author-X-Name-Last: Saulnier Title: Eisenhower's economic strategy: Promoting growth and personal freedom by creating conditions favorable to the operation of a market-based economy Abstract: Here is considered the substance and goals of President Dwight D. Eisenhower's economic initiatives. The intention of these initiatives was to shift the relationship between public and private efforts in a way that would strengthen the underpinnings of the market-based and market-directed entrepreneurial economy, as well as enhance personal freedom. Also considered are the success of the initiatives, how the economy fared under the initiatives, and how the prospect for growth and improvement in the economy has been borne out since Eisenhower's administration. Journal: Forum for Social Economics Pages: 1-8 Issue: 1-2 Volume: 34 Year: 2004 Month: 1 X-DOI: 10.1007/BF02747500 File-URL: http://hdl.handle.net/10.1007/BF02747500 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:34:y:2004:i:1-2:p:1-8 Template-Type: ReDIF-Article 1.0 Author-Name: George Rejda Author-X-Name-First: George Author-X-Name-Last: Rejda Author-Name: Joseph Haley Author-X-Name-First: Joseph Author-X-Name-Last: Haley Title: Construction of an economic index to measure the causes of economic insecurity Abstract: This paper is an updated study on the causes of economic insecurity in the United States. The authors have constructed an aggregate composite index that measures objectively the major causes of economic insecurity (CEI) in the United States. The CEI index consists of 11 variables that can cause economic insecurity. The time period under investigation is 1960 through 2001. A rising CEI index indicates that the causes of economic insecurity in the United States have increased in relative importance, which results in an increase in economic insecurity. Conversely, a falling CEI index indicates that the causes of economic insecurity have declined in relative importance, which results in a reduction of economic insecurity. However, despite substantial economic growth in the American economy from 1960 through 2001, the CEI index overall showed little improvement. The major conclusion is that the CEI index was 9 percent higher in 2001 than it was in 1960. This result was due largely to the increase in divorce, violent crime, rising out-of-pocket expenditures for health care, inflation, and unemployment. The results for subperiods are dramatically different, and we think more interesting, than the overall results. During the 1960s, there was a small decline in the CEI index. The 1970s showed a dramatic increase in the CEI index, which reflected both high unemployment rates and inflation rates during this period. The 1980s experienced fluctuating levels in the index but little overall change, and the 1990s experienced a sharp decline in the CEI index due largely to a robust economy. The CEI index has increased more recently, which reflects largely the recent 2001 business recession. The correlation coefficient of the CEI index with the University of Michigan's well-known Index of Consumer Sentiment is −676. This figure shows that as the CEI index rises, consumer sentiment about the American economy becomes pessimistic and negative. Journal: Forum for Social Economics Pages: 9-30 Issue: 1-2 Volume: 34 Year: 2004 Month: 1 X-DOI: 10.1007/BF02747501 File-URL: http://hdl.handle.net/10.1007/BF02747501 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:34:y:2004:i:1-2:p:9-30 Template-Type: ReDIF-Article 1.0 Author-Name: Daniel Fairchild Author-X-Name-First: Daniel Author-X-Name-Last: Fairchild Title: Does the minimum wage help the poor? Abstract: Conventional economics frequently employs abstract analysis, including questionable assumptions regarding human behavior, together with highly quantitative methodology. While these techniques do not provide a full picture of economic life, conventional economic analysis has provided important insights and predictive power, at least during certain historical periods. The effects of minimum wage laws have been analyzed extensively by conventional economists over the past quarter century. That analysis, much of it empirical, has produced important insights into the effects of the minimum wage on the poor. In this article, I survey that vast body of research and address whether the poor are better off due to the minimum wage. I conclude the minimum wage does not unambiguously help the poor, and may do more harm than good to this segment of the nation's population. Journal: Forum for Social Economics Pages: 31-42 Issue: 1-2 Volume: 34 Year: 2004 Month: 1 X-DOI: 10.1007/BF02747502 File-URL: http://hdl.handle.net/10.1007/BF02747502 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:34:y:2004:i:1-2:p:31-42 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O'Boyle Author-X-Name-First: Edward Author-X-Name-Last: O'Boyle Title: Principles of economic justice: Marketplace and workplace applications Abstract: Mainstream economics argues that ethical standards are essentially relative, that they differ from one person to the next, and are entirely outside the limits of legitimate inquiry for economic science. Our view is that there are certain objective ethical standards to be applied that parallel the three modes of human interaction in economic affairs: person to person, superior to subordinate, and member to group. Those standards are given by the principle of equivalence, principle of distributive justice, and principle of contributive justice. Journal: Forum for Social Economics Pages: 43-60 Issue: 1-2 Volume: 34 Year: 2004 Month: 1 X-DOI: 10.1007/BF02747503 File-URL: http://hdl.handle.net/10.1007/BF02747503 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:34:y:2004:i:1-2:p:43-60 Template-Type: ReDIF-Article 1.0 Author-Name: Michael Casson Author-X-Name-First: Michael Author-X-Name-Last: Casson Title: Franchising the american elementary and secondary educational system Abstract: To solve the education “woes” of the U.S., many experts have looked to both command economies (standardized curriculum), and competitive markets (e.g. school choice and school vouchers), for answers. This normative research explores an optimal mix between market economies and command economies in education through the use of the business-format franchising structure. Franchising, an organizational form lying between the extremes of markets and hierarchies, would establish a standardized curriculum composed of those components of education that are deemed essential to the educational growth of our students. At the same time, franchising allows for levels of autonomy for educational institutions that would enable them to effectively target the additional needs and preferences of their local area, which in turn develops competitive markets in which schools compete for student enrollment thereby remedying the moral hazard problem. Finally, two additional characteristics that make this format attractive in tackling the problems in education are its continuous transfer of “know how” and its regular technical assistance. In the context of education, these characteristics translate into necessary links between educational theory and practice as well as national research and training grounds for teachers and administrators. Journal: Forum for Social Economics Pages: 61-70 Issue: 1-2 Volume: 34 Year: 2004 Month: 1 X-DOI: 10.1007/BF02747504 File-URL: http://hdl.handle.net/10.1007/BF02747504 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:34:y:2004:i:1-2:p:61-70 Template-Type: ReDIF-Article 1.0 Author-Name: Margrethe Winslow Author-X-Name-First: Margrethe Author-X-Name-Last: Winslow Title: The environmental Kuznets curve revisited once again Abstract: In the past decade, considerable attention has been paid to the hypothesized inverted U-shaped relationship between income level and environmental quality, known as the environmental Kuznets curve (EKC). An overview of empirical studies of this relationship finds limited evidence for an EKC. The strongest evidence is with urban SO2 concentrations. A close examination of a seminal paper in this field, which first reported the relationship between income level and SO2 concentrations, finds the relationship weak at best. Given the limited evidence for an EKC, why is it still accepted as fact? This article suggests that it both serves the interests of powerful groups in society, and it corresponds to a notion that wealthy people care more about environmental quality than do poor people. Journal: Forum for Social Economics Pages: 1-18 Issue: 1 Volume: 35 Year: 2005 Month: 1 X-DOI: 10.1007/BF02746011 File-URL: http://hdl.handle.net/10.1007/BF02746011 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2005:i:1:p:1-18 Template-Type: ReDIF-Article 1.0 Author-Name: Khandakar Elahi Author-X-Name-First: Khandakar Author-X-Name-Last: Elahi Title: Economic inequality and paretian welfare economics: Some insinuating questions Abstract: This paper examines the academic soundness of the Pareto welfare criterion as a normative rule for evaluating alternative economic inequality scenarios and suggests that the criterion has several weaknesses, which weaken its usefulness. First, the Pareto principle is of limited use in the inequality debate because labor markets hardly satisfy the conditions of perfect competition, the pivotal assumption of the theory. Second, the proposition that competitive equilibrium leads to the “common good” of society is difficult to defend. Third, the Paretian welfare economics barely answers the questions society demands, because perfect competition does not guarantee fairness in the determination of relative prices in the initial situation of income distribution. Fourth, in the distribution theory, the marginal productivity principle determines the rewards to the factors of production. If we assume that rent, wage and interest incomes are determined by this theory, then questions arise about how profits, the potentially huge surpluses generated by the businesses, are distributed. Fifth, income distribution, being a public policy topic, is a political issue. However, Pareto's primary motivation in formulating the principle was to alienate the income distribution debate from political and policy discourses. Finally, by invoking the Pareto principle, economists are in fact avoiding the real issues of the public debate on personal distribution of income. Personal income distribution truly refers to division of income generated by a group of people working together and therefore, ought to be analysed with reference to the sector of employment. Thus, Tommy Franks' earning should be compared with that of a private, while an ordinary worker's salary should be compared with that of the CEO. History testifies that the public earning structure is much more equitable than that of the private sector. This poses a very serious question: Which earning structure reflects improvement in social welfare: public or private? Journal: Forum for Social Economics Pages: 19-36 Issue: 1 Volume: 35 Year: 2005 Month: 1 X-DOI: 10.1007/BF02746012 File-URL: http://hdl.handle.net/10.1007/BF02746012 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2005:i:1:p:19-36 Template-Type: ReDIF-Article 1.0 Author-Name: Tae-Hee Jo Author-X-Name-First: Tae-Hee Author-X-Name-Last: Jo Title: Neoliberalism as an asocial ideology and strategy in education Abstract: There have been many neoliberal education reforms around the world. At the bottom line, those reforms are intended to modify the education system based upon market principles. Reviewing and contrasting various perspectives on education (Adam Smith, Marxists, Veblen, Dewey, and neoclassicists), I argue that: 1) neoliberalism is an asocial ideology of the ruling class in the capitalist system, 2) neoliberalism justifies and propagates market principles in education, 3) there is a discontinuity between classical liberalism and neoliberalism, and 4) when it comes to Korean education reforms, neoliberalism has two contradictions and counter-movements which hinder the realization of market principles in education. Journal: Forum for Social Economics Pages: 37-58 Issue: 1 Volume: 35 Year: 2005 Month: 1 X-DOI: 10.1007/BF02746013 File-URL: http://hdl.handle.net/10.1007/BF02746013 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2005:i:1:p:37-58 Template-Type: ReDIF-Article 1.0 Author-Name: Wilfred Dolfsma Author-X-Name-First: Wilfred Author-X-Name-Last: Dolfsma Title: Consumption in a vacuum Abstract: In recent years, economics has paid increasing attention to the phenomenon of consumption. Insights from outside of the mainstream and from outside of economics proper have found inroads as well. Largely neglected in previous decades, consumption theory in economics was the exclusive domain for technical discussions only for a long time, as the articles selected by the late Kevin Lancaster show. Consumption of many goods is, however, highly symbolic—consumption behavior is in large part about institutionalized communication where instrumental considerations do not necessarily play an important role. Some of the most promising ideas that can be developed further in economics to better understand consumption behavior are presented. Journal: Forum for Social Economics Pages: 59-67 Issue: 1 Volume: 35 Year: 2005 Month: 1 X-DOI: 10.1007/BF02746014 File-URL: http://hdl.handle.net/10.1007/BF02746014 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2005:i:1:p:59-67 Template-Type: ReDIF-Article 1.0 Author-Name: Joe Wallis Author-X-Name-First: Joe Author-X-Name-Last: Wallis Title: Coaching and the supply of hope:The Economics of commitment and a case study of supported employment services Abstract: Coaching and hope are related to supported employment provision. Journal: Forum for Social Economics Pages: 1-20 Issue: 2 Volume: 35 Year: 2006 Month: 1 X-DOI: 10.1007/BF02746429 File-URL: http://hdl.handle.net/10.1007/BF02746429 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2006:i:2:p:1-20 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O’Boyle Author-X-Name-First: Edward Author-X-Name-Last: O’Boyle Title: Classical economics and the Great Irish Famine:A study in limits Abstract: The Great Irish Famine resulted from two massive failures: the blight that destroyed the potato crop and the non-interventionism of the English government. The first failure, which also occurred in other European countries, was devastating for the Irish who depended on the potato as their main source of nourishment. The second failure was a human failure because English government policy was instructed by classical economics to let the market clear the surplus population from the land and was reinforced by the anti-Irish racism common in England at the time, even among classical economists, notably Nassau Senior and J.S. Mill. Journal: Forum for Social Economics Pages: 21-53 Issue: 2 Volume: 35 Year: 2006 Month: 1 X-DOI: 10.1007/BF02746430 File-URL: http://hdl.handle.net/10.1007/BF02746430 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2006:i:2:p:21-53 Template-Type: ReDIF-Article 1.0 Author-Name: Augendra Bhukuth Author-X-Name-First: Augendra Author-X-Name-Last: Bhukuth Title: The brokerage system in the brick kiln industry in Tamil Nadu, India Abstract: We have led a survey in brick kilns in the state of Tamil Nadu, India, to study the phenomenon of intermediation in the process of recruiting seasonal migrants who are employed for implementing the production. Henceforth, we show that intermediaries play a central role in this industry by simultaneously coordinating the actions of the supply and demand of labor and credit in the interlinked credit-labor market. The role of brokers in this industry is ambiguous in the sense that they are at the same time close to workers and yet they are subjugated to employers. There are two kinds of brokers: the broker-brokers and the broker-workers. The former have better bargaining power than the later, so they are in a better position to defend their employers' interest than the broker-workers. Journal: Forum for Social Economics Pages: 55-74 Issue: 2 Volume: 35 Year: 2006 Month: 1 X-DOI: 10.1007/BF02746431 File-URL: http://hdl.handle.net/10.1007/BF02746431 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:35:y:2006:i:2:p:55-74 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Why Meso? On “Aggregation” and “Emergence”, and Why and How the Meso Level is Essential in Social Economics Abstract: Simplistic aggregation in idealized “markets” versus structural emergence in complex and path-dependent processes have always marked a “continental divide” between neoclassical mainstream economics and all kinds of evolutionary and institutional social economics. This paper deals with institutional, or structural, emergence and argues that the meso level (to be specific) is the proper aggregate level for social economic analyses of complex systems and processes. Also, neo-Schumpeterian economists have stressed recently the issue of an “institutional trajectory” taking place on the meso economic level. This paper argues that the creative ideas of a Schumpeterian entrepreneur are not a sufficient explanation in this case. Using an evolutionary interpretation of a simple game-theoretic formalism (the Folk Theorem), the paper strives to demonstrate that the meso level, as the proper level of institutional emergence, must and can be endogenously explained from a process of interactive problem-solving of interdependent agents, in their struggle for coordination under strong uncertainty. It will be illustrated that a meso-sized socio-economic group co-evolves, and is constituted, together with the institution that in turn serves as the solution to the coordination problem. The practical and policy implications of the argument are discussed. Journal: Forum for Social Economics Pages: 1-16 Issue: 1 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-0001-3 File-URL: http://hdl.handle.net/10.1007/s12143-007-0001-3 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:1:p:1-16 Template-Type: ReDIF-Article 1.0 Author-Name: John Henry Author-X-Name-First: John Author-X-Name-Last: Henry Title: “Bad” Decisions, Poverty, and Economic Theory: The Individualist and Social Perspectives in Light of “The American Myth” Abstract: Social outcomes are analyzed either by placing responsibility for those outcomes on the individual or to locate the cause in a specific social factor -- discrimination. Here, I argue that individual decision-making cannot be the cause of poverty, illustrative of one outcome, and that commentary specifying a particular social factor is insufficient to address the fundamental, underlying cause of poverty. Rather, one must examine the nature of the economic system that lies at the root of such issues. In the process of developing the argument, it is shown that the individualist explanation of poverty is linked to the neoclassical framework, and that this individualist explanation is a product of the (capitalist) economic system itself which then induces an ideology both privileging such an explanation and preventing the development of satisfactory theory that would inform proper policy. An example of this point is drawn from the 1960’s “war on poverty” program. Journal: Forum for Social Economics Pages: 17-27 Issue: 1 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-0005-z File-URL: http://hdl.handle.net/10.1007/s12143-007-0005-z File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:1:p:17-27 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Mann Author-X-Name-First: Stefan Author-X-Name-Last: Mann Title: Comparing Interpersonal Comparisons in Utility Theory and Happiness Research Abstract: Social scientists are reluctant to make explicit interpersonal comparisons of well-being. However, implicit comparisons are made on a surprisingly regular basis. These comparisons are based on the wealth and the Kaldor--Hicks concept in utility theory and on self-reported well-being in happiness research. Taking a utilitarian stance, this paper tests the ethical foundations of both principles. While self-reported well-being serves as an acceptable proxy for utilitarian decision-making, the Kaldor--Hicks concept does not appear so. Implications for evaluating policies are outlined. Journal: Forum for Social Economics Pages: 29-42 Issue: 1 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-0003-1 File-URL: http://hdl.handle.net/10.1007/s12143-007-0003-1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:1:p:29-42 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Kemp Author-X-Name-First: Robert Author-X-Name-Last: Kemp Title: Medical Dominance and Institutional Change in the Delivery of Health Care Services Abstract: This paper puts the theory of medical dominance, as it understood as a sociological theory of historical change, into a broader theory of institutional change of the delivery of medical care. The application of medical dominance theory to three institutional contexts (Australia, USA, and Canada) is reviewed. The possibility of progressive institutional change in the delivery of medical care is addressed, as well as the type of technological innovation that might accompany such institutional change. The concept of medical dominance is useful to explain the dominant characteristics supporting the institution of medical practice. However, an explanatory theory of the evolution of health care delivery should be linked to the instrumentally warranted standards for medical care. These standards are then discussed. Journal: Forum for Social Economics Pages: 43-51 Issue: 1 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-0004-0 File-URL: http://hdl.handle.net/10.1007/s12143-007-0004-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:1:p:43-51 Template-Type: ReDIF-Article 1.0 Author-Name: Patrick Welch Author-X-Name-First: Patrick Author-X-Name-Last: Welch Title: How Can US Schools Desegregate After the End of Busing? Abstract: The end of busing of primary and secondary school students has been a major setback for integration of public schools in the USA. The purpose of this paper is not to offer an alternative to busing; regrettably, no obvious alternative stands out. Rather, it is to offer some social, legal and economic background to help the reader consider, and perhaps propose, realistic alternatives that would reduce both racial and economic segregation in our schools and society. The paper is divided into three sections. The first offers background information useful for better understanding and evaluating the end of busing and school resegregation. The second section focuses on an important parallel between racial and economic discrimination. The closing section introduces considerations important for anticipating reactions to, and the costs and benefits of, alternatives to busing for reintegrating schools, as well as several recommendations to which those considerations can be applied. Journal: Forum for Social Economics Pages: 53-62 Issue: 1 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-0006-y File-URL: http://hdl.handle.net/10.1007/s12143-007-0006-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:1:p:53-62 Template-Type: ReDIF-Article 1.0 Author-Name: Wayne Edwards Author-X-Name-First: Wayne Author-X-Name-Last: Edwards Author-Name: Tara Natarajan Author-X-Name-First: Tara Author-X-Name-Last: Natarajan Title: Rigidities, Living Conditions, and Institutions in the Far North Abstract: The remoteness and geography of Alaska create service access rigidities that are difficult to overcome. The delivery of basic services like healthcare, police protection, and justice are often inadequate in rural places. The continued employment of neoclassical assumptions in policy making is a primary reason policies fail to overcome the barriers. A broader scope of analysis can inform the issues faced by rural residents and provide insight into alternate solutions. Journal: Forum for Social Economics Pages: 63-72 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-9003-4 File-URL: http://hdl.handle.net/10.1007/s12143-007-9003-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:63-72 Template-Type: ReDIF-Article 1.0 Author-Name: Ramya Vijaya Author-X-Name-First: Ramya Author-X-Name-Last: Vijaya Title: Trade, Job Losses and Gender: A Policy Perspective Abstract: This paper presents a gender perspective of the Trade Adjustment Assistance (TAA) program. The TAA is the primary US policy to assist the transition of workers displaced due to trade related economic restructuring. In comparison to the relatively substantial research on gendering trade policies in developing economies there is very limited focus on gendering policy responses to trade in the US. We argue that there is a specific gender trend in the trade-displacement patterns in the US which calls for a gender sensitive policy response. We examine the TAA in light of this trend and offer some suggestions for a gendered approach to providing assistance to workers negotiating an increasingly flexible global labor market. Journal: Forum for Social Economics Pages: 73-85 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-9000-7 File-URL: http://hdl.handle.net/10.1007/s12143-007-9000-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:73-85 Template-Type: ReDIF-Article 1.0 Author-Name: Michael Casson Author-X-Name-First: Michael Author-X-Name-Last: Casson Title: Reducing Teacher Moral Hazard in the U.S. Elementary and Secondary Educational System through Merit-pay: An Application of the Principal--Agency Theory Abstract: America’s elementary and secondary educational system is faced with an inefficiency stemming from a basic problem associated with unobservability: moral hazard. In this case, the teacher (agent) has an incentive to exert less effort (given cost associated with more work) if the school district (principal) cannot distinguish between low student performance due to a lack of teacher effort and low student performance due low student quality (random variable). This research develops an optimal incentive scheme that guarantees the teacher a fixed payment, plus a variable payment that would be a function of teacher ‘action’ variables thereby reducing moral hazard. Journal: Forum for Social Economics Pages: 87-95 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-9004-3 File-URL: http://hdl.handle.net/10.1007/s12143-007-9004-3 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:87-95 Template-Type: ReDIF-Article 1.0 Author-Name: Mary Wrenn Author-X-Name-First: Mary Author-X-Name-Last: Wrenn Title: What is Heterodox Economics? Conversations with Historians of Economic Thought Abstract: Since its intellectual inception, the development of the economics discipline has been accompanied by divergence of thought. Through the years, particularly in the latter half of the twentieth century, a fissure has emerged within the discipline, sociologically dividing conventional, mainstream economics from the dissention of heterodox economics. The nature of that division, however, as well as the nature of heterodox thought is unclear. Historians of economic thought would seem to be uniquely suited to specify the nature of heterodox economics and the mechanism of its marginalization. Although anecdotal, personal interviews with historians of economic thought provide a breadth and depth of study not available through surveys with an immediacy not allowed by doctrinal examination. The purpose of this study and intent of this paper is to reveal the ways that orthodox and heterodox economics differ, whether heterodox economics has any clear research program other than criticizing the limits of the more orthodox view, and what aspects of heterodox economics remain underdeveloped, all through the lens of the historian of economic thought. Journal: Forum for Social Economics Pages: 97-108 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-9002-5 File-URL: http://hdl.handle.net/10.1007/s12143-007-9002-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:97-108 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Gassler Author-X-Name-First: Robert Author-X-Name-Last: Gassler Title: Political and Social Economics: Beyond Orthodoxy and Heterodoxy Abstract: Economists face at least two problems when they try to go interdisciplinary. One is how to adapt their theory where the original set of assumptions may fail to apply. This is a particular problem for economists who carry the “default” neoclassical model around in their heads. This paper outlines a map for keeping track of assumptions when doing interdisciplinary work. A second problem is how to take a theory designed for one discipline and turn it into something intelligible to practitioners of another. One needs a common language, and it is argued that general systems theory might help, even though it is not a complete language. The map proposed here provides a unified way to compare and contrast the approaches of different orthodox and heterodox traditions and better see what problems they are most suited to addressing. Journal: Forum for Social Economics Pages: 109-125 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-9006-1 File-URL: http://hdl.handle.net/10.1007/s12143-007-9006-1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:109-125 Template-Type: ReDIF-Article 1.0 Author-Name: Irene Staveren Author-X-Name-First: Irene Author-X-Name-Last: Staveren Title: Christian Economic Thought in The Netherlands Abstract: The objective of this paper is to provide an insight into the ethics in the works of Christian economists in The Netherlands. The paper starts with a brief review of some key texts by Dutch Christian economists representing faith-based organizations. The next section presents a summary of (Dutch) Christian ethics, distinguishing four approaches: motivation, values, institutions, and instrumentalism. The following section will discuss some recent scholarly texts by Dutch Christian economists. It will be shown that three of the four ethical approaches are represented in these writings. In a comparison of the texts, the faith-based civil society economic thought seems to remain closer to the Christian ethics tradition. The last section will explain this gap by showing how, in faith-based civil society, morality is largely understood as being part and parcel of the economy, whereas in the academic economic literature, morality is largely regarded as belonging to the private sphere. Journal: Forum for Social Economics Pages: 127-141 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-0002-2 File-URL: http://hdl.handle.net/10.1007/s12143-007-0002-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:127-141 Template-Type: ReDIF-Article 1.0 Author-Name: John Tiemstra Author-X-Name-First: John Author-X-Name-Last: Tiemstra Title: The Social Economics of Globalization Abstract: There is general agreement on the moral values that globalization should serve. These are widespread prosperity and economic growth, ecological sustainability, and cultural diversity. Proponents believe that neoliberal globalization will achieve these goals, while the critics believe that globalization undermines them. An institutionalist theory that recognizes the reality of economic power and choice posits that globalization enhances the power of the business sector at the expense of the government and moral--cultural sectors. Policies for redressing this imbalance are discussed. Journal: Forum for Social Economics Pages: 143-159 Issue: 2 Volume: 36 Year: 2007 Month: 1 X-DOI: 10.1007/s12143-007-9001-6 File-URL: http://hdl.handle.net/10.1007/s12143-007-9001-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:36:y:2007:i:2:p:143-159 Template-Type: ReDIF-Article 1.0 Author-Name: Clifford Poirot Author-X-Name-First: Clifford Author-X-Name-Last: Poirot Author-Name: Samuel Pavel Author-X-Name-First: Samuel Author-X-Name-Last: Pavel Title: The State, Public Policy and Heterodox Economics: An Introduction Abstract: While most heterodox economists endorse some amount of policy activism, there is no unified conception of the state and public policy in heterodox economics. To help clarify the similarities and differences within heterodoxy -- and between heterodox and mainstream economics -- a panel addressing this subject was convened in 2007 at the Annual Meeting of the Association for Institutional Thought. This article introduces the essays prepared for that symposium. They include an examination of the position of Marx and Engels, a clarification of the institutionalist views of Veblen and Commons, an outline of the perspective of Post Keynesian Institutionalism, and an account of some essential contributions of Classical Pragmatism (a major school of thought within the philosophy of science). The collection advances what Robert Heilbroner called “the worldly philosophy” by seeking to understand the role of the state in a world where institutions, defined broadly as social habits, adjust to other institutions. Journal: Forum for Social Economics Pages: 1-12 Issue: 1 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-007-9010-5 File-URL: http://hdl.handle.net/10.1007/s12143-007-9010-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:1:p:1-12 Template-Type: ReDIF-Article 1.0 Author-Name: John Henry Author-X-Name-First: John Author-X-Name-Last: Henry Title: The Theory of the State: The Position of Marx and Engels Abstract: Marx and Engels developed their position on the state in the context of their attempt to understand and analyze society in general, in particular, capitalist society. Over the course of five decades of examination, their argument was refined, partly due to their historic investigations, partly due to the work of others, specifically by Lewis Henry Morgan, and partly due to political developments, in particular the Paris Commune of 1871. Essentially, their concluding statement on the substance of the state was that this socially determined arrangement was constituted by the instruments of coercion, both physical and ideological, with which the dominant economic class coerced other social classes. In developing their ideas, Marx and Engels distinguished between the state and government, though they clearly saw a symbiotic relationship between these structures in class societies. In the course of their investigations, they differentiated their position from those of liberal, anarchist, and other socialist commentators. Journal: Forum for Social Economics Pages: 13-25 Issue: 1 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-007-9011-4 File-URL: http://hdl.handle.net/10.1007/s12143-007-9011-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:1:p:13-25 Template-Type: ReDIF-Article 1.0 Author-Name: Timothy Wunder Author-X-Name-First: Timothy Author-X-Name-Last: Wunder Author-Name: Thomas Kemp Author-X-Name-First: Thomas Author-X-Name-Last: Kemp Title: Institutionalism and the State: Founding Views Reexamined Abstract: Economists in the institutional tradition have spent a great deal of time dealing with the notions of governance and the state. Yet that school of thought has yet to develop a complete unified theory of either governance or the state. In the work Commons and Veblen we see very different levels of analysis and commentary on these issues. Both authors are recognized as founding thinkers in the Institutional school yet they differ on how they use their methods and they have differing ideas about the usefulness of the state. Still, considered together they present a fairly complete and useable set of ideas about how governance and the state work. This essay summarizes, clarifies, and somewhat expands on the views held by Commons and Veblen with the view of moving towards a clear and concise institutional theory of the state. Journal: Forum for Social Economics Pages: 27-42 Issue: 1 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-008-9012-y File-URL: http://hdl.handle.net/10.1007/s12143-008-9012-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:1:p:27-42 Template-Type: ReDIF-Article 1.0 Author-Name: Charles Whalen Author-X-Name-First: Charles Author-X-Name-Last: Whalen Title: Toward ‘Wisely Managed’ Capitalism: Post-Keynesian Institutionalism and the Creative State Abstract: Post-Keynesian Institutionalism (PKI), a synthesis of post Keynesian and institutional economics, emerged in the USA as a strand of evolutionary economics in the early 1980s and has attracted increasing attention in recent years. This article examines milestones in the development of PKI, devoting particular attention to the tradition’s conception of the role of the state. The first section identifies antecedents to PKI in the writings of John R. Commons and John Maynard Keynes. The second describes how PKI emerged against the backdrop of increasing dissatisfaction with neoclassical Keynesianism in the era of stagflation. The third summarizes the subsequent contributions of Hyman P. Minsky, whose work was a model of PKI in the 1980s and 1990s. The final two sections outline PKI’s contemporary characteristics and identify elements of an agenda for future research. PKI has always been about achieving a more humane form of capitalism, which requires the state to play a creative role in shaping economic life. Journal: Forum for Social Economics Pages: 43-60 Issue: 1 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-008-9014-9 File-URL: http://hdl.handle.net/10.1007/s12143-008-9014-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:1:p:43-60 Template-Type: ReDIF-Article 1.0 Author-Name: Clifford Poirot Author-X-Name-First: Clifford Author-X-Name-Last: Poirot Title: Is Pragmatism Good for Anything? Towards a Theory of Impractical Economics Abstract: This article discusses the relationship between classical pragmatism, political economy and economic policy. Classical pragmatism is contrasted with vulgar meanings and uses of the term pragmatism. Classical pragmatism aims at a deep, substantive theoretical understanding of real-world economic systems and supports application of well-warranted claims to knowledge to improve the human condition. The article reviews the contributions of the founder of pragmatism, Charles Sanders Peirce, to the areas of ontology and epistemology as well as their further development by contemporary classical pragmatist philosopher Susan Haack. Hilary Putnam’s argument that we can have ethics without ontology and objectivity without objects is then critiqued. We need ethics based on an ontology that is rooted in actual human experience; this provides better guidance for evaluating policy proposals. The paper concludes by discussing the affinity of classical pragmatism with different approaches to political economy and policy. Journal: Forum for Social Economics Pages: 61-76 Issue: 1 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-008-9013-x File-URL: http://hdl.handle.net/10.1007/s12143-008-9013-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:1:p:61-76 Template-Type: ReDIF-Article 1.0 Author-Name: Steven Pressman Author-X-Name-First: Steven Author-X-Name-Last: Pressman Title: Robert Heilbroner and the Growing Concern with Poverty in the US Abstract: This paper examines Robert Heilbroner’s 1950 article in Harper’s Magazine on poverty in the USA. It argues that this piece was the first attempt to raise popular concerns about poverty in the USA after World War II, and in many ways sought to do what John Kenneth Galbraith’s The Affluent Society and Michael Harrington’s The Other America accomplished. Heilbroner was not successful in bringing the issue before poverty to public attention because he wrote at a time of great economic growth and at a time before TV brought images and ideas to a large fraction of the American public. He also wrote in a very conservative era, where McCarthyism reared its ugly head and where calls to eradicate poverty were met with intimations of a Communist conspiracy. Journal: Forum for Social Economics Pages: 77-83 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-007-9007-0 File-URL: http://hdl.handle.net/10.1007/s12143-007-9007-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:77-83 Template-Type: ReDIF-Article 1.0 Author-Name: Dieter Bögenhold Author-X-Name-First: Dieter Author-X-Name-Last: Bögenhold Title: Economics, Sociology, History: Notes on Their Loss of Unity, Their Need for Re-integration and the Current Relevance of the Controversy between Carl Menger and Gustav Schmoller Abstract: We are experiencing a situation of increasing criticism of the state in which economics is being represented nowadays. One of the remarks is that economics has become too formalized and too abstract and that the state of discipline has become increasingly unable to express many phenomena of “real life” with its concrete socioeconomic specifica. Criticism has found a way to get cumulated in different terms of economic pluralism. The claim for fostering interdisciplinary research which we also find nowadays reflects the diagnosis that our islands of shared knowledge have become too fragmented. When reflecting what is going on in recent times a view back to the end of the nineteenth century may help to contextualize recent debate. Looking at the debate between Carl Menger and Gustav Schmoller which was later classified as the first battles in social sciences helps to sort up arguments which are still on the agenda, inductive versus deductive methods or empirism versus abstract theorizing. Journal: Forum for Social Economics Pages: 85-101 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-007-9005-2 File-URL: http://hdl.handle.net/10.1007/s12143-007-9005-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:85-101 Template-Type: ReDIF-Article 1.0 Author-Name: Joseph Eisenhauer Author-X-Name-First: Joseph Author-X-Name-Last: Eisenhauer Title: An Economic Definition of the Middle Class Abstract: The concept of a middle class is prevalent in both common parlance and the social sciences; concern is frequently expressed that the middle class is shrinking, and politicians often position themselves as champions of the middle class. Yet the phrase “middle class” is extremely ambiguous; no consensus exists on either the upper bound or the lower bound separating the middle class from other classes. The present paper employs the government’s official poverty line as the demarcation between the poor and the middle class, and develops an equivalent distinction to separate the middle class from the wealthy. Based on the new definition, the paper provides some rough empirical estimates of the size of the American middle class over the 1989--2004 period. Journal: Forum for Social Economics Pages: 103-113 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-007-9009-y File-URL: http://hdl.handle.net/10.1007/s12143-007-9009-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:103-113 Template-Type: ReDIF-Article 1.0 Author-Name: Geoffrey Schneider Author-X-Name-First: Geoffrey Author-X-Name-Last: Schneider Title: Comparative Institutional Advantage and the Appropriate Development Model for Sub-Saharan Africa Abstract: The theory of comparative institutional advantage posits that certain types of firms locate production facilities in a particular location and avoid other locations due to unique institutional advantages and disadvantages. In sub-Saharan Africa, neoliberal policies, weak and corrupt states, and Transnational Corporations have created a particularly destructive variant of capitalism. African capitalism generates little in the way of economic growth, rewards mainly the TNC and the African elites, and undermines Africa’s economic future via activities that are utterly extractive in nature. African capitalism is facilitated directly by the WTO, the structural adjustment policies of the IMF and the World Bank, and the institutional structures of African economies. After outlining the problems with African capitalism as currently structured, the paper goes on to suggest an alternative to this model involving experimental, embedded, grass roots development efforts that build on domestic cultural institutions that would generate significantly more positive outcomes for the people of sub-Saharan Africa. By abandoning neoliberal policies, it might be possible to create a better economic model that would build on community-centered institutional strengths to benefit a greater proportion of the population. Journal: Forum for Social Economics Pages: 115-124 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-008-9015-8 File-URL: http://hdl.handle.net/10.1007/s12143-008-9015-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:115-124 Template-Type: ReDIF-Article 1.0 Author-Name: Rojhat Avsar Author-X-Name-First: Rojhat Author-X-Name-Last: Avsar Title: A Critique of ‘Neoliberal Autonomy’: The Rhetoric of Ownership Society Abstract: The rhetoric of the Ownership Society defined by the Cato Institute has been integral to framing the motivation behind the Social Security reform introduced by George W. Bush. This motivational frame involves a fierce advocacy of what we will call ‘neoliberal autonomy’ in a Hayekian and Friedmanite sense. For Hayek and Friedman, the social adequacy component of Social Security is problematized in the name of self-reliance and individual choice, which rejects any authoritative standards as morally indefensible. Nevertheless, the rhetoric of the Ownership Society, though it glorifies the neoliberal notion of autonomy, does not explicitly question the moral basis of Social Security. Rather, by defining the terms of debate, it frames the meaning of Social Security along neoliberal lines in an attempt to make a supposedly detached economic case for private retirement accounts. In this ‘pro-privatization’ framework, the social adequacy component of the Social Security system fades away as individual equity, or actuarial fairness, comes to the fore as the chief theme. We suggest a ‘pro-social’ rhetoric that recognizes the pursuit of social standards as providing the element of autonomy. Journal: Forum for Social Economics Pages: 125-134 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-008-9016-7 File-URL: http://hdl.handle.net/10.1007/s12143-008-9016-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:125-134 Template-Type: ReDIF-Article 1.0 Author-Name: Sourushe Zandvakili Author-X-Name-First: Sourushe Author-X-Name-Last: Zandvakili Title: Advances in Inequality Measurement and Usefulness of Statistical Inference Abstract: Assessment of inequality measurement is the focus for this survey. All measures of inequality must be evaluated based on a set of desirable properties. More importantly, the usefulness of statistical inference for measures of inequality needs examination. Journal: Forum for Social Economics Pages: 135-145 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-008-9018-5 File-URL: http://hdl.handle.net/10.1007/s12143-008-9018-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:135-145 Template-Type: ReDIF-Article 1.0 Author-Name: Mark Lutz Author-X-Name-First: Mark Author-X-Name-Last: Lutz Title: Revisiting the Relevance of International Trade Theory Abstract: Probably one of the most controversial contributions to the literature of international trade theory was offered by the late social economist John Culbertson. In his view, low wage competition among corporations in a world characterized by capital mobility and massive trade deficits undermines the foundation trade theory based on David Ricardo’s celebrated notion of comparative advantage. Instead, there are several good reasons to believe that international trade with China, India, Vietnam, etc. will be governed by absolute advantage. The current essay is dedicated to the virtually ignored work of Culbertson, and it is meant as an invitation for social economists to critically evaluate the argument and in the process make an attempt to point out where it goes wrong. Journal: Forum for Social Economics Pages: 147-164 Issue: 2 Volume: 37 Year: 2008 Month: 1 X-DOI: 10.1007/s12143-007-9008-z File-URL: http://hdl.handle.net/10.1007/s12143-007-9008-z File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:37:y:2008:i:2:p:147-164 Template-Type: ReDIF-Article 1.0 Author-Name: James Stanfield Author-X-Name-First: James Author-X-Name-Last: Stanfield Author-Name: Michael Carroll Author-X-Name-First: Michael Author-X-Name-Last: Carroll Title: The Social Economics of Neoliberal Globalization Abstract: The recent period of intensive and extensive development of global economic integration, or globalization, has reached a crossroads. The regime of the neoliberal Great Capitalist Restoration is not sustainable and fundamental governance changes must be made. This paper adds perspective to the choices that must be made at this critical juncture of the global social economy by applying the master concepts of Schumpeter’s Creative Destruction and Polanyi’s Protective Response. Journal: Forum for Social Economics Pages: 1-18 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9031-8 File-URL: http://hdl.handle.net/10.1007/s12143-008-9031-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:1-18 Template-Type: ReDIF-Article 1.0 Author-Name: Samuel Cameron Author-X-Name-First: Samuel Author-X-Name-Last: Cameron Title: Widening the Economic Approach to Hatred Abstract: The economics of hate is a barely developed field. There is one paper overtly on the topic by Glaeser and several related papers on racism. war and other important topics. This paper considers the scope for taking the economic analysis of hate beyond the narrow confines of the neoclassical approach by Glaeser and those working in cognate areas. Journal: Forum for Social Economics Pages: 19-29 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9024-7 File-URL: http://hdl.handle.net/10.1007/s12143-008-9024-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:19-29 Template-Type: ReDIF-Article 1.0 Author-Name: Niccolo Caldararo Author-X-Name-First: Niccolo Author-X-Name-Last: Caldararo Title: Primitive and Modern Economics: Derivatives, Liquidity, Value, Panic and Crises, A Uniformitarian View Abstract: This paper investigates aspects of economics in the context of complex society and the nature of investment devices in cross-cultural comparison, placing special attention on the new global issues of money, hedge fund contracts, derivatives and other risk-spreading concepts and practices. The function of these are compared to the behavior of the inventors and practitioners in other cultures. Similarities are noted with religious formulators and the process of conversion and the operation of the market and credit paralleled with the concept of Mana. This work provides a context for understanding contemporary human economic behavior. Novel structures of symbolic worth are associated with individual presentation and performance. Clearly concepts of value and credit have been changing in modern financial culture. Indeed, they have been expressing forms that have traditionally been associated with primitive economics. An understanding of the current financial and social losses resulting from the subprime collapse is presented along with a means to counter it. Journal: Forum for Social Economics Pages: 31-51 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9029-2 File-URL: http://hdl.handle.net/10.1007/s12143-008-9029-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:31-51 Template-Type: ReDIF-Article 1.0 Author-Name: Carmine Gorga Author-X-Name-First: Carmine Author-X-Name-Last: Gorga Title: Concordian Economics: Tools to Return Relevance to Economics Abstract: With the help of planes and solids, this paper presents an enlargement of the field of observation of economic theory. Through this transformation, the distribution of ownership rights to money and wealth assumes a central position in economic analysis. Thus social relevance is returned to economics. The validity of this operation is confirmed by the return of the millenarian field of economic justice to its traditional function as guidance to economic policy. The paper then presents four sets of economic rights and responsibilities that offer the potential of translating principles of economic justice into the complexities of the modern world. Journal: Forum for Social Economics Pages: 53-69 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9017-6 File-URL: http://hdl.handle.net/10.1007/s12143-008-9017-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:53-69 Template-Type: ReDIF-Article 1.0 Author-Name: D. Meador Author-X-Name-First: D. Author-X-Name-Last: Meador Title: Comment on “What is Heterodox Economics? Conversations with Historians of Economic Thought” Abstract: The Comment on Wrenn’s article “What is Heterodox Economics?” suggests that the inability of heterodox economists to define their field arises from an as yet unrecognized and different metaphysical foundation than that of orthodox economics. Journal: Forum for Social Economics Pages: 71-73 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9019-4 File-URL: http://hdl.handle.net/10.1007/s12143-008-9019-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:71-73 Template-Type: ReDIF-Article 1.0 Author-Name: Mary Wrenn Author-X-Name-First: Mary Author-X-Name-Last: Wrenn Title: Response to the Comment: “What is Heterodox Economics? Conversations with Historians of Economic Thought” Abstract: The comment to “What is Heterodox Economics? Conversations with Historians of Economic Thought” spotlights critical issues in the possibility and probability of articulation and proposes a compelling argument in the explanation of the “inability of heterodoxy to define itself...” The core argument suggests that heterodox groups of economic thought cannot successfully articulate the nature of its varied programs until it recognizes and articulates the metaphysically and ontologically different system of knowledge which serves as the foundation for heterodox thought. Journal: Forum for Social Economics Pages: 75-78 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9020-y File-URL: http://hdl.handle.net/10.1007/s12143-008-9020-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:75-78 Template-Type: ReDIF-Article 1.0 Author-Name: John Davis Author-X-Name-First: John Author-X-Name-Last: Davis Title: Justifying Human Rights: Economics and the Individual Abstract: This paper examines the relationship between the individual conception in economics and the justification of economic rights as human rights. It briefly describes the nature of economic rights, and argues that the Homo economicus conception constitutes a barrier to justifying them. The paper then offers an alternative conception of the individual as socially embedded, and argues that it offers an adequate basis for the justification of economic rights. On this alternative conception individuals are enduring beings who have personal identities. Journal: Forum for Social Economics Pages: 79-89 Issue: 1 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9022-9 File-URL: http://hdl.handle.net/10.1007/s12143-008-9022-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:1:p:79-89 Template-Type: ReDIF-Article 1.0 Author-Name: Geoffrey Schneider Author-X-Name-First: Geoffrey Author-X-Name-Last: Schneider Title: Teaching Heterodox Economics: Introduction to the Special Issue Abstract: This introduction to the special issue of the Forum for Social Economics on teaching heterodox economics provides an overview of the papers in this volume. The papers demonstrate that heterodox economists are particularly gifted at explaining the dynamics of the real world economy; therefore, heterodox economics instruction often specializes in, and benefits from, immersing students into real world situations. Heterodox economists push pedagogic boundaries by directly confronting students with real-world data and situations. In the process, students achieve a rich understanding of the world as it is and not as a hypothetical myth. The overview of papers is followed by suggestions for future work on teaching heterodox economics, and acknowledgments of those who made this special issue possible. Journal: Forum for Social Economics Pages: 91-96 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9055-8 File-URL: http://hdl.handle.net/10.1007/s12143-009-9055-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:91-96 Template-Type: ReDIF-Article 1.0 Author-Name: Jonathan Wight Author-X-Name-First: Jonathan Author-X-Name-Last: Wight Title: Sociability and the Market Abstract: This paper addresses two classroom activities for exploring sociability and the role it plays in market and non-market allocations. Adam Smith’s moral sentiments theory provides a conceptual framework for understanding such behavior. In the Desert Island activity students have conversations about competing allocation methods (e.g., rationing, lottery, competition, brute force) that provide a backdrop for learning about market mechanisms and behavioral economics. Beginning students consistently pick egalitarian distributions that signal the implicit willingness to share for reasons that might be instinctual, reputational or other. Fairness in allocations mimics that found in the playing of the Ultimatum Game. The results suggest that economic instructors can successfully bring into the classroom concepts of sociability and the roles it serves in human institutions when introducing a new and different institution—the market. Journal: Forum for Social Economics Pages: 97-110 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9034-0 File-URL: http://hdl.handle.net/10.1007/s12143-009-9034-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:97-110 Template-Type: ReDIF-Article 1.0 Author-Name: Elizabeth Moorhouse Author-X-Name-First: Elizabeth Author-X-Name-Last: Moorhouse Title: Teaching the Implicit Assumptions Underlying Firm Behavior in the Neoclassical Model Abstract: The neoclassical model imposes narrow assumptions on firm behavior and in the process hides implicit assumptions regarding the behavior of individuals. Although the firm is a complicated organization composed of many individuals, the neoclassical model simplifies its behavior to one objective—the maximization of profits. This assumption implicitly assumes that individuals within the firm subordinate their own self-interest for the firm’s benefit. A classroom activity is described which assists students in discerning whether the assumption of profit maximization fits reality. Journal: Forum for Social Economics Pages: 111-116 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9037-x File-URL: http://hdl.handle.net/10.1007/s12143-009-9037-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:111-116 Template-Type: ReDIF-Article 1.0 Author-Name: Eric Hake Author-X-Name-First: Eric Author-X-Name-Last: Hake Title: Change and Continuity in the American Macroeconomy, 1929-2007: Exercises for Principles of Macroeconomics Abstract: This article provides a series of exercises based on statistics about the American macroeconomy. These exercises were designed to introduce students to the institutionalist perspective, promote basic historical literacy, and help the student develop their skills with the Microsoft Excel software program. Journal: Forum for Social Economics Pages: 117-128 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9040-2 File-URL: http://hdl.handle.net/10.1007/s12143-009-9040-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:117-128 Template-Type: ReDIF-Article 1.0 Author-Name: Paddy Quick Author-X-Name-First: Paddy Author-X-Name-Last: Quick Title: A Value-Added Approach to Macroeconomics Abstract: Focusing on the “value-added” approach to computing Gross National Product encourages students to see their role as a producers, rather than only as consumers. It also offers an alternative approach the distribution of income between labor and capital from that provided by marginal productivity theory. Journal: Forum for Social Economics Pages: 129-134 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9041-1 File-URL: http://hdl.handle.net/10.1007/s12143-009-9041-1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:129-134 Template-Type: ReDIF-Article 1.0 Author-Name: Christopher Magee Author-X-Name-First: Christopher Author-X-Name-Last: Magee Title: Do Professors’ Opinions Affect Students? Abstract: This paper estimates the effect that professors’ opinions have on changes in student opinions during introductory economics classes. The paper shows that students are more likely to change their opinion during the course of the semester if their initial response differs from that of the professor, and this result emerges even after controlling for students’ tendency to move toward the consensus opinion held by all the economics professors. Students are also more likely to change their opinions if they differ from the opinions of their classmates, and the estimates show that in the aggregate, classmate opinions matter more than professor opinions do. The data also show that students choose which section to attend at least partly based on how closely their pre-class opinions match those of the professor. These results have important implications for both heterodox and orthodox economists. Journal: Forum for Social Economics Pages: 135-151 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9025-6 File-URL: http://hdl.handle.net/10.1007/s12143-008-9025-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:135-151 Template-Type: ReDIF-Article 1.0 Author-Name: Robin Bartlett Author-X-Name-First: Robin Author-X-Name-Last: Bartlett Author-Name: Marianne Ferber Author-X-Name-First: Marianne Author-X-Name-Last: Ferber Author-Name: Carole Green Author-X-Name-First: Carole Author-X-Name-Last: Green Title: The Committee on Economic Education: Its Effect on the Introductory Course and Women in Economics Abstract: The percentage of women economics majors has stagnated for decades. This is creating a bottleneck in the pipeline of female economists. The Committee on Economic Education (CEE) of the American Economic Association (AEA) is charged with fostering economic understanding and effective teaching. An examination of its structure, membership and activities over the past 35 years, however, suggests that it has narrowed the scope of economic ideas presented in introductory economics and has not convinced instructors of the benefits of a more active learning environment. The task of engaging students in the search for greater knowledge has largely been left to heterodox “visionaries,” members of the profession who have tried to find ways to make economics courses more interesting and inviting to all students, and especially to under-represented groups. We conclude that the CEE’s membership and structure contribute to the small percentage of the increasingly female undergraduate population who major in economics. Journal: Forum for Social Economics Pages: 153-172 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9038-9 File-URL: http://hdl.handle.net/10.1007/s12143-009-9038-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:153-172 Template-Type: ReDIF-Article 1.0 Author-Name: Julie Nelson Author-X-Name-First: Julie Author-X-Name-Last: Nelson Author-Name: Neva Goodwin Author-X-Name-First: Neva Author-X-Name-Last: Goodwin Title: Teaching Ecological and Feminist Economics in the Principles Course Abstract: It can be difficult to incorporate ecological and feminist concerns into introductory courses, when one is also obliged to teach neoclassical analysis. In this essay we briefly describe how one might extend existing “multi-paradigmatic” approaches to feminist and ecological concerns, and then present an new alternative approach that may be more suitable for some students. This “broader questions and bigger toolbox” approach can be applied in both microeconomics and macroeconomics introductory classrooms. Journal: Forum for Social Economics Pages: 173-187 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9033-1 File-URL: http://hdl.handle.net/10.1007/s12143-009-9033-1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:173-187 Template-Type: ReDIF-Article 1.0 Author-Name: K. Powlick Author-X-Name-First: K. Author-X-Name-Last: Powlick Title: The Value of Advanced Interdisciplinary Classes for Students of Economics: Case Study of a 300-Level Class on Gender in the Economy Abstract: Interdisciplinary classes are valuable to students of economics for many reasons. This paper discusses three reasons why such classes, at an advanced level, are useful and important for students of economics. First, interdisciplinary classes have the potential to encourage theory building and critical thinking, especially through the use of primary sources. Second, interdisciplinary classes also provide students with a richer empirical understanding of the world, beyond the narrowly quantitative data used in most economics research. Fostering a ‘constructivist’ view of data, this facilitates future economists building the tools to tell marginalized stories. Lastly, interdisciplinary classes can create a diverse learning environment that facilitates peer learning about difficult subjects such as race, class, and gender. A case study of a 300-level class titled Gender in the Economy, in which a diverse group of students from backgrounds in women’s studies, economics, business, and American studies came together to study the economic history of gender, is used to explore such benefits. Journal: Forum for Social Economics Pages: 189-200 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9053-x File-URL: http://hdl.handle.net/10.1007/s12143-009-9053-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:189-200 Template-Type: ReDIF-Article 1.0 Author-Name: Daniel Leclerc Author-X-Name-First: Daniel Author-X-Name-Last: Leclerc Author-Name: Ed Ford Author-X-Name-First: Ed Author-X-Name-Last: Ford Author-Name: E. Ford Author-X-Name-First: E. Author-X-Name-Last: Ford Title: A Constructivist Learning Approach to Income Inequality, Poverty and the “American Dream” Abstract: In the constructivist approach to economic education, an understanding of economic reality is built on the student’s own economic experiences. The process results in active and engaged learning. This paper reports on in-class experiments aimed at developing a learning module focused on income inequality and poverty. How much income is required to maintain a modest, middle income, poverty line or “American Dream” living standard? Journal: Forum for Social Economics Pages: 201-208 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9039-8 File-URL: http://hdl.handle.net/10.1007/s12143-009-9039-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:201-208 Template-Type: ReDIF-Article 1.0 Author-Name: Corrado Andini Author-X-Name-First: Corrado Author-X-Name-Last: Andini Title: Teaching Keynes’s Principle of Effective Demand within the Real Wage vs. Employment Space Abstract: This paper reviews several models for teaching Keynes’s principle of effective demand with a special focus on a framework that is familiar to advanced undergraduate students of macroeconomics: the real wage vs. employment space. It is argued that existing approaches to teaching Keynes’s principle of effective demand reflect a tension between two goals: being true to Keynes and translating the effective-demand principle into a story about real wages and employment within a single graphical space. Our main contribution consists of presenting an extended version of a model originally proposed by Lavoie (Rev Radic Polit Econ, 35(2):166--182, 2003), which seems to be a reasonable compromise between these two goals. Journal: Forum for Social Economics Pages: 209-228 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9035-z File-URL: http://hdl.handle.net/10.1007/s12143-009-9035-z File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:209-228 Template-Type: ReDIF-Article 1.0 Author-Name: KimMarie McGoldrick Author-X-Name-First: KimMarie Author-X-Name-Last: McGoldrick Author-Name: Janice Peterson Author-X-Name-First: Janice Author-X-Name-Last: Peterson Title: Public Scholarship and Economics: Engaging Students in the Democratic Process Abstract: Public scholarship is an emerging pedagogical practice that integrates teaching, research, and service in ways that expand student learning by tackling critical, topical problems and generating real solutions. This paper describes the use of a course on women and the economy in two widely disparate institutions to demonstrate the process of integrating public scholarship in economics. Journal: Forum for Social Economics Pages: 229-245 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9036-y File-URL: http://hdl.handle.net/10.1007/s12143-009-9036-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:229-245 Template-Type: ReDIF-Article 1.0 Author-Name: Paul Susman Author-X-Name-First: Paul Author-X-Name-Last: Susman Title: Transformation through the Brigades Abstract: Teaching critical thinking skills beyond a formulaic, positivist set of questions is a central challenge in radical political economy and critical geography. Grounded in historical consciousness and a quest for human emancipation, critical thinking emerges as part of praxis, the reflective combination of theory and practice. Drawing on Gramsci and Freire, this paper presents the example of the Bucknell Brigades in which students learn about community based initiatives and work with an NGO grounded in community defined projects. The Brigades push the boundaries of most service-learning based in most social service agencies by offering a glimpse of historical consciousness, praxis, critical thinking, all with an emancipatory perspective. Journal: Forum for Social Economics Pages: 247-262 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-008-9026-5 File-URL: http://hdl.handle.net/10.1007/s12143-008-9026-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:247-262 Template-Type: ReDIF-Article 1.0 Author-Name: Dawn Richards Elliott Author-X-Name-First: Dawn Author-X-Name-Last: Richards Elliott Title: What is the Comparative Advantage of the Service Learning Pedagogy? Insights from Development Economics Abstract: We rely on the Kolb learning cycle and the experiences from two development economics class to analyze the comparative advantage of service learning pedagogy. We hypothesize that service learning is uniquely positioned to improve learning outcomes in applied/policy-oriented specializations. We conceptualize learning outcomes from a discipline-specific perspective where service hours are directly linked to the course content. We argue that the sustainability of service learning in applied/policy-oriented disciplines is limited by journal-entry orthodoxy and short-term costs. Emotive journal entries often encourage an “everything goes” response which threatens the credibility of service learning and limits its use in specializations that value objectivity. Service hours imply costs to faculty and students that exceed those of traditional approaches. This can serve as a disincentive for course adaptation, despite the decline in these costs over time, and enrollment. Our analysis encourages instructors to explore alternatives to the widely used journal-entry and to seek opportunities to inform students of the expected long-run benefit/cost tradeoffs. We encourage administrators to support faculty who teach classes that are predisposed to service learning in ways that can reduce short-run costs. With its comparative advantage and the united efforts across the academy, we expect that in the long-run service experiences will routinely be used to complement traditional lectures in applied/policy-oriented classrooms across the academy. Journal: Forum for Social Economics Pages: 263-278 Issue: 2-3 Volume: 38 Year: 2009 Month: 1 X-DOI: 10.1007/s12143-009-9051-z File-URL: http://hdl.handle.net/10.1007/s12143-009-9051-z File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:38:y:2009:i:2-3:p:263-278 Template-Type: ReDIF-Article 1.0 Author-Name: Geoffrey Schneider Author-X-Name-First: Geoffrey Author-X-Name-Last: Schneider Author-Name: Paul Susman Author-X-Name-First: Paul Author-X-Name-Last: Susman Title: Uneven Development and Grounded Comparative Institutional Advantage: Lessons from Sweden and Mondragon Abstract: In this paper we use the theory of grounded comparative institutional advantage to analyze the possibilities for progressive development in the face of the uneven development patterns endemic to neoliberal capitalist development. We demonstrate that efforts to promote institutional structures to spur regional development, such as Swedish efforts to create high wage jobs via education, training, and technology diffusion, and the Mondragon Cooperative’s efforts to create and preserve manufacturing jobs via education, technology development and cooperative organization, can be a countervailing power to the forces of capitalist uneven development, if the state becomes a major allocator of investment funds. To succeed in creating stable, progressively-oriented industries in a region within a capitalist economy, there must be cushions for firms against downturns and sectoral shifts, mechanisms for the creation of cutting edge technologies, and a commitment to reallocate investment to key industries. Otherwise the forces of uneven development, spatially and sectorally, will tend to prevail. While the models developed by Sweden and Mondragon hold promise, this approach requires a major political commitment to the region, and a willingness to embrace some of the vagaries of international capitalism. Journal: Forum for Social Economics Pages: 1-11 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-008-9027-4 File-URL: http://hdl.handle.net/10.1007/s12143-008-9027-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:1-11 Template-Type: ReDIF-Article 1.0 Author-Name: Irene Staveren Author-X-Name-First: Irene Author-X-Name-Last: Staveren Title: Home Care Reform in the Netherlands: Impacts on Unpaid Care in Rotterdam Abstract: The 2007 change in the law of home care for household help in the Netherlands concerns competitive tendering at municipal level. This has reduced quality and choice for care receivers. In this paper, I report from a small survey in the city of Rotterdam on the impact of the law change on unpaid home carers. The results show that the burden for unpaid carers has increased whereas the quality of paid care as perceived by the unpaid carers has declined. This calls into question whether the reform has met its objectives: improving participation of people with needs for household help and improving efficiency in service delivery. Journal: Forum for Social Economics Pages: 13-21 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9042-0 File-URL: http://hdl.handle.net/10.1007/s12143-009-9042-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:13-21 Template-Type: ReDIF-Article 1.0 Author-Name: Alan Duhs Author-X-Name-First: Alan Author-X-Name-Last: Duhs Author-Name: Laura Davidoff Author-X-Name-First: Laura Author-X-Name-Last: Davidoff Title: Capabilities, Rights and Justice in the Context of Australian Aboriginal Welfare Policy Abstract: Since white settlement of Australia in 1788, the Aboriginal community has remained a conspicuously disadvantaged minority group. Decades of Federal and State government welfare policies have not prevented alcoholism, domestic violence and unemployment from undermining life in Aboriginal communities. Radically different policies are now being trialled, in recognition that a social emergency exists and in recognition that ‘money for nothing’ welfare handouts have not succeeded in developing human capabilities in Aboriginal communities. Despite the 2008 ‘sorry day’ apology, emotional hurts still run deep, and perceived injustices continue to impact upon the recognition of Aboriginal rights and the advancement of Aboriginal capabilities. Journal: Forum for Social Economics Pages: 23-31 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9048-7 File-URL: http://hdl.handle.net/10.1007/s12143-009-9048-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:23-31 Template-Type: ReDIF-Article 1.0 Author-Name: Janet Spitz Author-X-Name-First: Janet Author-X-Name-Last: Spitz Title: CEO Gender and the Malt Brewing Industry: Return of the Beer Witch, Ale-Wife, and Brewster Abstract: Beer companies may not come to mind as a warm and welcoming environment for women in management. Indeed, few other mainstream industries utilize advertising as openly hostile to women. Yet in contrast to the 2% CEO positions held by women in Fortune 500 firms, 20% of U. S. large and medium sized malt brewing companies are headed by women. Historical research reveals that Ale-Wives, or Brewsters, held ownership of beer making as a spiritual as well as nutritional contribution to village life for some 20,000 years in a broad array of cultures and geographic locales. Dark Age witch hunts combined with sanitation spoilage to allow the Church and monasteries to wrest control of this high status and lucrative activity; industrial revolution mechanization completed the process of moving beer brewing firmly into the hands of men. Contemporary Microbrewer and Craft Beer concern with sustainable production and community, and thus a possibly more spiritual focus beyond consumption of the product itself, may help explain this female malt brewing leadership regression to the mean. Journal: Forum for Social Economics Pages: 33-42 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9047-8 File-URL: http://hdl.handle.net/10.1007/s12143-009-9047-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:33-42 Template-Type: ReDIF-Article 1.0 Author-Name: Cristina Matos Author-X-Name-First: Cristina Author-X-Name-Last: Matos Title: Unreformed or Hybrid? Accounting for Pension Arrangements Diversity in the EU Abstract: EU27 pension systems are diverse and different from textbook ideal-type. They are hybrids because they combine public and private pension features. Over a century, public and private pensions have been designed and reformed simultaneously. We examine how the history of those reforms can explain the emergence of existing hybrid pension arrangements. Journal: Forum for Social Economics Pages: 43-51 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9050-0 File-URL: http://hdl.handle.net/10.1007/s12143-009-9050-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:43-51 Template-Type: ReDIF-Article 1.0 Author-Name: Mark White Author-X-Name-First: Mark Author-X-Name-Last: White Title: Adam Smith and Immanuel Kant: On Markets, Duties, and Moral Sentiments Abstract: This note points out a neglected parallel between the philosophies of Adam Smith and Immanuel Kant related to their views on self-interest, morality, and society. First, I explain the distinction between Kant’s perfect and imperfect duties, and how they result from his moral philosophy. Next, I summarize Smith’s two major perspectives on human behavior, as presented in The Theory of Moral Sentiments and The Wealth of Nations, and discuss the apparent conflict between them. Finally, I use Kant’s two types of duties, along with his concept of the kingdom of ends, to explicate my interpretation of the relationship between Smith’s two strains of thought. By explaining these dual aspects of Kant’s ethical system in relation to Smith, I hope to give a new perspective on the apparent duality in Smith’s thought, as well as help bring out the oft-neglected social aspects of Kant’s. Journal: Forum for Social Economics Pages: 53-60 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9043-z File-URL: http://hdl.handle.net/10.1007/s12143-009-9043-z File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:53-60 Template-Type: ReDIF-Article 1.0 Author-Name: Bruce McDaniel Author-X-Name-First: Bruce Author-X-Name-Last: McDaniel Title: “The Social and Instuitional Economics of the Original Schumpeter” Abstract: ASSA Paper. ASA Session on Schumpeter Journal: Forum for Social Economics Pages: 61-65 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9049-6 File-URL: http://hdl.handle.net/10.1007/s12143-009-9049-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:61-65 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O’Boyle Author-X-Name-First: Edward Author-X-Name-Last: O’Boyle Title: Bill Waters on Schumpeter Abstract: Bill Waters’ dissertation “Entrepreneurship, Dualism, and Causality: An Appreciation of the Work of Joseph A. Schumpeter” completed at Georgetown University in 1952 is significant for two reasons. The first is clear enough from the very beginning: Schumpeter and the entrepreneur. The other comes to light through hindsight: Bill brings to bear an understanding of economic affairs which is personalist rather than individualist or collectivist in nature. In short, Bill sees as the main activating force in economic affairs not the impersonal forces of the market, not the central planning board, but the person who innovates, who acts bolding in economic affairs, the banker who creates credit, and the capitalist who supplies old funds. Thus the Waters’ dissertation says much not only about Schumpeter but also about Bill himself. His dissertation is his only book-length publication. Journal: Forum for Social Economics Pages: 67-75 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9046-9 File-URL: http://hdl.handle.net/10.1007/s12143-009-9046-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:67-75 Template-Type: ReDIF-Article 1.0 Author-Name: Frederic Jennings Author-X-Name-First: Frederic Author-X-Name-Last: Jennings Title: Toward a Horizonal Theory of Justice: Efficiency, Equity, Rights and Capabilities in a Free Market Economy Abstract: The theory of planning horizons and their relation to pricing, conscience and learning has been explored in some detail in terms of efficiency attributes and ecological health (Jennings 2003, Journal of Economic Issues 39:365-373, 2005, 2007a, b, 2008a). This paper addresses the equity implications of planning horizons in terms of the social role and importance of justice, rights and capabilities in a free market economy. From my earlier work, cooperation—not competition—is seen as the means to longer and broader horizons in an efficiency frame, mitigating any alleged tradeoff against equity issues. The impact of longer horizons on fairness and justice in terms of intentions and outcomes along with rights and capabilities still remains unexplored. This paper reviews the normative aspects of planning horizons, showing how ethical and ecological conscience spreads with horizon effects, strengthening goals of fairness and the internalization of social effects. In this setting, capabilities and empowerment are enhanced by respect for human rights, as social conscience spreads through interhorizonal complementarities. The features of a long-horizon world differ from myopic contexts, specifically in the relation of efficiency to other goals. This paper examines that difference in terms of its equity aspects, with regard to social justice and the role of rights and capabilities in economic cultures. Journal: Forum for Social Economics Pages: 77-87 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9045-x File-URL: http://hdl.handle.net/10.1007/s12143-009-9045-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:77-87 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Ashford Author-X-Name-First: Robert Author-X-Name-Last: Ashford Title: Broadening the Right to Acquire Capital with the Earnings of Capital: the Missing Link to Sustainable Economic Recovery and Growth Abstract: This article presents a proposal to broaden the right to acquire capital with the earnings of capital as a means of promoting sustainable economic recovery and growth. It would open the markets for real and financial capital acquisition more fully and competitively to poor and working people (1) to distribute more broadly the earnings of capital and (2) to profitably employ more capital and labor. Both the recession and the strategies advanced to promote economic recovery may be viewed as responses to the prospect of inadequate present and future earning capacity of both consumers and producers (1) to purchase what can physically be produced and (2) to repay existent and anticipated debt obligations. To increase the prospects of sufficient, sustainable earning capacity, the proposal advanced in this article would extend to all people the same protections and benefits presently provided by government that facilitate market transactions whereby capital is acquired with the earnings of capital primarily for well-capitalized people. Although in theory, all people in a market economy are able to acquire capital with the earnings of capital, reliable empirical data reveal that as a practical matter, the major determinant of the ability of individuals to acquire capital with the earnings of capital is the existing distribution of capital ownership. The theory of “binary” economic growth underlying this proposal holds that the market return on capital is positively related to the distribution of capital acquisition with the earnings of capital. The prospect of a broader distribution of capital acquisition with the earnings of capital carries with it the prospect of more broadly distributed earning capacity in future years, which in turn will provide the market incentives to profitably employ more capital and labor in earlier years. The idea that the broader distribution of capital acquisition with the earnings of capital will promote growth is not found in any of the widely accepted theories and models of economic growth such as those proposed by Schumpeter, Solow, Roemer, and Lucas. By opening to all people the institutions of corporate finance, banking, insurance, government loans and guaranties, and monetary policy (the very institutions presently relied upon by the Federal Government to stimulate the economy) the practical ability to acquire capital with the earnings of capital can be more broadly extended to all people with the result that greatly enhanced prospects for greater and more broadly distributed earning capacity and growth can be reasonably expected and realized by all. Journal: Forum for Social Economics Pages: 89-100 Issue: 1 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9052-y File-URL: http://hdl.handle.net/10.1007/s12143-009-9052-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:1:p:89-100 Template-Type: ReDIF-Article 1.0 Author-Name: Reza Fazeli Author-X-Name-First: Reza Author-X-Name-Last: Fazeli Author-Name: Rafat Fazeli Author-X-Name-First: Rafat Author-X-Name-Last: Fazeli Title: The Impact of the Welfare State and Social Policy on the Working Population: The Recent British Experience Abstract: This paper focuses on financing the welfare state expenditures in the UK. It offers a comprehensive analysis of social expenditures and taxes paid by the working population families, and an estimation of the net benefits received by them. While the subsequent analysis of the welfare state and its development primarily concentrates on the British experience, it has a broader application to other OECD countries. The UK as the most egalitarian “liberal market economy,” offers an interesting case for the study of the interaction between the welfare state expansion and economic growth. In terms of her capitalist economic structure, (interaction between market and economy) she is relatively closer to the USA and other Angelo-Saxon (liberal market) economies. In terms of her level of social expenditures, she is much closer to the European “social market economies” than the USA and other more egalitarian “liberal market economies.” Journal: Forum for Social Economics Pages: 101-125 Issue: 2 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-008-9023-8 File-URL: http://hdl.handle.net/10.1007/s12143-008-9023-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:2:p:101-125 Template-Type: ReDIF-Article 1.0 Author-Name: Guilherme Pires Author-X-Name-First: Guilherme Author-X-Name-Last: Pires Author-Name: John Stanton Author-X-Name-First: John Author-X-Name-Last: Stanton Author-Name: Ioannis-Dionysios Salavrakos Author-X-Name-First: Ioannis-Dionysios Author-X-Name-Last: Salavrakos Title: The Interaction of Foreign Direct Investment with Electronic Commerce in Less Developed Countries Abstract: This paper argues that the international growth of e-commerce (whether business--business, business--consumer or consumer--business) can increase a critical technology infrastructure gap that disadvantages less-developed countries (LDCs) in their future e-commerce participation. This gap is linked to the type as well as the volume of foreign direct investment (FDI) which economies at different levels of development attract. The macro technical, legal and socio-economic problems that entwine FDI inflow and e-commerce growth in LDCs, reducing e-commerce attractiveness and also making FDI less attractive, are classified. Governments must recognise this interdependence, pin-point the types of macro constraints operating in their particular economy that curb FDI in e-commerce attracting investment and prioritise the desirability and incentives offered to the various types of FDI infrastructure. Journal: Forum for Social Economics Pages: 127-143 Issue: 2 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-008-9021-x File-URL: http://hdl.handle.net/10.1007/s12143-008-9021-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:2:p:127-143 Template-Type: ReDIF-Article 1.0 Author-Name: Ariel Dvoskin Author-X-Name-First: Ariel Author-X-Name-Last: Dvoskin Author-Name: German Feldman Author-X-Name-First: German Author-X-Name-Last: Feldman Title: The Exchange Rate and Inflation in Argentina: A Classical Critique of Orthodox and Heterodox Policy Prescriptions Abstract: In this paper we present an alternative framework to neoclassical theory of international trade and exchange rate determination. Our model, inspired in the classical tradition, provides support for the assertion that an exchange rate policy aiming to improve national competitiveness and to bring about a sustained trade surplus is a viable option. In fact, the success of this strategy does not depend on the effectiveness of monetary sterilization —as many argentinean heterodox authors claim— but on the ability to overcome the boundaries imposed by the evolution of the domestic wage rate and the potential emergence of competitive devaluations. In the particular case of Argentina, the introduction of export taxes on land-intensive commodities, in which the economy has absolute advantages, brings an additional policy tool that can make both the exchange rate target and the workers claims consistent. Journal: Forum for Social Economics Pages: 145-169 Issue: 2 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-008-9030-9 File-URL: http://hdl.handle.net/10.1007/s12143-008-9030-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:2:p:145-169 Template-Type: ReDIF-Article 1.0 Author-Name: Panayotis Michaelides Author-X-Name-First: Panayotis Author-X-Name-Last: Michaelides Author-Name: John Milios Author-X-Name-First: John Author-X-Name-Last: Milios Author-Name: Angelos Vouldis Author-X-Name-First: Angelos Author-X-Name-Last: Vouldis Author-Name: Spyros Lapatsioras Author-X-Name-First: Spyros Author-X-Name-Last: Lapatsioras Title: Emil Lederer and Joseph Schumpeter on Economic Growth, Technology and Business Cycles Abstract: This paper compares Joseph Schumpeter and Emil Lederer with respect to their visions concerning the notions of economic growth, technology and business cycles. Their theoretical investigations in a number of thematic areas seem to converge to similar views. More precisely, both Schumpeter and Lederer regard the capitalist economy as a dynamic system where the introduction of innovations is its distinctive characteristic. In such a system, static analysis based on the concept of equilibrium is useful as an expository device to describe the adjustment mechanisms of the economic system. They also paid attention to the emergence of large oligopolistic firms and considered this development as being interwoven with technological progress. Both economists used similar arguments to emphasize the link between economic development and technological change. In their analyses, Schumpeter and Lederer referred to psychological factors motivating the entrepreneur, in order to explain the forces that set in motion the process of innovation and thus economic development. The concept of technological unemployment is also described in a similar manner by both of them. Regarding the issue of business cycles, Schumpeter and Lederer considered them to be a result of endogenous processes within a capitalist economy. Lederer in his late works, argued in a way analogous to Schumpeter, that economic fluctuations are caused from the disruptions created by innovations, which are introduced discontinuously into the economic system. Conclusively, Schumpeter and Lederer delivered theses which are similar in scope and conclusions probably because they were developed in the same social, political, theoretical and ideological environment and were also well acquainted with each other’s ideas. Journal: Forum for Social Economics Pages: 171-189 Issue: 2 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9032-2 File-URL: http://hdl.handle.net/10.1007/s12143-009-9032-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:2:p:171-189 Template-Type: ReDIF-Article 1.0 Author-Name: Klaus Mohn Author-X-Name-First: Klaus Author-X-Name-Last: Mohn Title: Autism in Economics? A Second Opinion Abstract: A popular claim among critics is that economic science is suffering from autism, a severe developmental disorder characterised by impairments in social relations and communication, combined with rigid and repetitive behaviour. So far, this allegation has not been substantiated. This essay explores the claim of autism in economics based on modern schemes of diagnostics. A key finding is that the structure of the critique against mainstream economics bears a striking resemblance to the structure of the diagnostic criteria for autism. Based on an examination of three groups of key symptoms, I conclude that the required set of criteria for the autism diagnosis are not met. However, there are parallels which may serve as constructive reminders for the future development and application of economic theories and models. Journal: Forum for Social Economics Pages: 191-208 Issue: 2 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-008-9028-3 File-URL: http://hdl.handle.net/10.1007/s12143-008-9028-3 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:2:p:191-208 Template-Type: ReDIF-Article 1.0 Author-Name: Michel Zouboulakis Author-X-Name-First: Michel Author-X-Name-Last: Zouboulakis Title: Trustworthiness as a Moral Determinant of Economic Activity: Lessons from the Classics Abstract: This paper reviews the way that social norms and ethical values in general, and trustworthiness in particular, is perceived to affect the behavior of economic agents in view of the work of Adam Smith, Nassau William Senior and John Stuart Mill. Classical Political economists held that economic actions are context-dependent and thus constantly under the influence of social norms and values. It is further suggested here that Classical Economists had established that trustworthiness acts as a general ethical precondition for the efficient behaviour of the markets and an important asset of the national social capital. Journal: Forum for Social Economics Pages: 209-221 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9057-6 File-URL: http://hdl.handle.net/10.1007/s12143-009-9057-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:209-221 Template-Type: ReDIF-Article 1.0 Author-Name: Andreia Tolciu Author-X-Name-First: Andreia Author-X-Name-Last: Tolciu Title: The Economics of Social Interactions: An Interdisciplinary Ground for Social Scientists? Abstract: Social interaction models, i.e. the changing sequence of actions between individuals who modify their behavior under the influence of their peers, have rarely enjoyed as high a profile in economic analysis as they do today. However, the literature growth has not been accompanied by a process of academic consolidation. The difficulties encountered in research are largely but not entirely the result of data constraints. The main argument of this article is that the source of problems may be traceable to the lack of a complementary approach between economics and other disciplines. The difficulties presented by the deficit in academic exchange among social scientists are compounded by the current analytical framework, which still concentrates on the fundamental, but mutually exclusive, traditions of thought: homo oeconomicus and homo sociologicus. In spotlighting these ideas, this article reviews the economic body of literature on social interactions and their effect on individual unemployment status. Two directions in current research are analyzed: the impact of social (work) norms on unemployment and the role of social networks in the job search process. The theoretical and methodological challenges encountered in research suggest that the future of social interactions models might be found at the crossroads of economics and other social sciences. Journal: Forum for Social Economics Pages: 223-242 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-009-9058-5 File-URL: http://hdl.handle.net/10.1007/s12143-009-9058-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:223-242 Template-Type: ReDIF-Article 1.0 Author-Name: Calvin Blackwell Author-X-Name-First: Calvin Author-X-Name-Last: Blackwell Author-Name: Michael McKee Author-X-Name-First: Michael Author-X-Name-Last: McKee Title: Is There a Bias Toward Contributing to Local Public Goods? Cultural Effects Abstract: A series of experiments was designed and implemented to investigate cross-cultural differences in preferences for contributing to local public goods. The research investigates differences between contributions made by participants from the United States, Russia and Kazakhstan. In these experiments each participant has three options: keep money for herself, contribute to a public good that benefits a small group (the local good), or contribute to a public good that benefits the entire group (the global good). The researchers find significant differences in contribution patterns across the three cultures, and find that all participants contribute significantly more to the small group public good than to the large group public good. Journal: Forum for Social Economics Pages: 243-257 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-010-9073-6 File-URL: http://hdl.handle.net/10.1007/s12143-010-9073-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:243-257 Template-Type: ReDIF-Article 1.0 Author-Name: Janet Knoedler Author-X-Name-First: Janet Author-X-Name-Last: Knoedler Author-Name: Geoffrey Schneider Author-X-Name-First: Geoffrey Author-X-Name-Last: Schneider Title: An Institutionalist Vision of a Good Economy Abstract: The current crisis in global capitalism and the wide-ranging problems that have been caused by the promulgation of a regime of deregulation of goods, services, and labor markets across the globe, but especially in the United States over the past thirty years, may indeed prove to be the end of the neoliberal era. Thus it is an opportune time to reconsider how the global economy could be restructured along more equitable and progressive lines. This paper will present the institutionalist vision of just such a good economy, building on the ideas of Veblen, Ayres, Commons, and Galbraith. The institutionalist vision of a good economy is productive but also non-invidious, democratic but also pragmatic, egalitarian but also efficient. The good economy must therefore be embedded in key social institutions, and be regulated appropriately to preserve the most beneficial social and cultural institutions. The good economy must, furthermore, be a full-employment economy, with jobs available to all who are capable of making productive contributions to their society and to enable those who labor to work in decent conditions. Finally, the good economy must provision all its members with the necessary means of subsistence for them to achieve their human aims. Journal: Forum for Social Economics Pages: 259-267 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-010-9064-7 File-URL: http://hdl.handle.net/10.1007/s12143-010-9064-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:259-267 Template-Type: ReDIF-Article 1.0 Author-Name: Al Campbell Author-X-Name-First: Al Author-X-Name-Last: Campbell Title: Marx and Engels’ Vision of a Better Society Abstract: Notwithstanding their much noted aversion to detailing the nature of a post-capitalist society, Marx and Engels indeed have a broad vision of such a better society that both runs through and informs their entire lives' work. It is rooted in their concepts of the inherently social nature of humans and potential authentic human development in accord with human nature, and the negation by humans as the active agents of history of the barriers posed to that development. This paper discuses their dialectic approach to defining a better society, their concept of human nature that it rests on, and finally specifies a number general aspects they give for a better future socialist society. Journal: Forum for Social Economics Pages: 269-278 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-010-9075-4 File-URL: http://hdl.handle.net/10.1007/s12143-010-9075-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:269-278 Template-Type: ReDIF-Article 1.0 Author-Name: Marc Hayford Author-X-Name-First: Marc Author-X-Name-Last: Hayford Author-Name: Anastasios Malliaris Author-X-Name-First: Anastasios Author-X-Name-Last: Malliaris Title: Asset Prices and the Financial Crisis of 2007--09: An Overview of Theories and Policies Abstract: The financial crisis of 2007--09 has led to a rethinking of the role of monetary and financial regulatory policy. It has also called into question the benefits of financial innovation and monetary policy that focuses solely on inflation and the output gap. This paper discusses financial instabilities in general, the recent financial crisis as well as the appropriate role of monetary and financial regulatory policy in dealing with asset bubbles. The paper concludes by evaluating appropriate policies to reduce the economic impact of future financial crises. Journal: Forum for Social Economics Pages: 279-286 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-010-9062-9 File-URL: http://hdl.handle.net/10.1007/s12143-010-9062-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:279-286 Template-Type: ReDIF-Article 1.0 Author-Name: David Zalewski Author-X-Name-First: David Author-X-Name-Last: Zalewski Title: Securitization, Social Distance, and Financial Crises Abstract: Because the process of securitizing home mortgages played a critical role in precipitating the recent financial crisis, it is widely agreed that this market must be reformed to prevent future collapses. Most proposals focus on improving the dissemination of information among securitization participants, and on strengthening incentives to discourage excessive risk-taking. This paper argues that because securitization involves the commodification of the lending relationship, it reinforces the type of self-interested behavior that often undermines regulatory efforts. What are needed are structural reforms that encourage moral behavior by narrowing the social distance between lenders and borrowers. This can be accomplished by a return to traditional banking lending, supplemented by the use of covered bonds to loosen credit constraints and to help financial intermediaries manage market risk. Journal: Forum for Social Economics Pages: 287-294 Issue: 3 Volume: 39 Year: 2010 Month: 1 X-DOI: 10.1007/s12143-010-9063-8 File-URL: http://hdl.handle.net/10.1007/s12143-010-9063-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:39:y:2010:i:3:p:287-294 Template-Type: ReDIF-Article 1.0 Author-Name: Phillip O’Hara Author-X-Name-First: Phillip Author-X-Name-Last: O’Hara Title: Stanfield’s Concepts of Social and Political Economy: Introduction to the Special Issue Abstract: This introduction to the special issue of the Forum for Social Economics discusses the conceptual advances made by James Ronald Stanfield that are critical to the future of social and political economy. We introduce the papers by Stanfield and O’Hara, which provide an overview of the conceptual advances. We then introduce the concepts of historical specificity, as well as policy and governance, and how they are need to be seen as interlinked into the cultural and institutional environment. The concept of the disembedded economy is then analysed and related to the papers by Kunibert Raffer and Doug Brown. This is followed by the concept of the economic surplus, and the notion of the surplus as a fund for social change, which is discussed by Mary Wrenn in her paper. The concept of reciprocity, nurturance and love is then linked to Edward O’Boyle’s paper, which sees close parallels between his own personalist economics and Stanfield’s inquiry. The final concept to be introduced is Stanfield’s notion of institutional change and transformation, which John Marangos scrutinises in the rapid changes happening in Central and Eastern Europe. The future of social and political economy is then explored relative to the need to understand and change the world for the better through analysing the core problems that successively emerge through historical time. Journal: Forum for Social Economics Pages: 1-5 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9068-3 File-URL: http://hdl.handle.net/10.1007/s12143-010-9068-3 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:1-5 Template-Type: ReDIF-Article 1.0 Author-Name: James Stanfield Author-X-Name-First: James Author-X-Name-Last: Stanfield Title: Some Social Economics Concepts for Future Research Abstract: Under the guidance of a recrudescent nineteenth century ideology, the governance of the global economy has been profoundly altered in the past three decades; indeed, a veritable Great Capitalist Restoration has emerged. It is important to view the transitioning economies and emerging market economies as part of this massive shift in governance. The concept of economic surplus offers a useful perspective on the political economy of governance regimes. Karl Polanyi’s post-Marxian view of lives and livelihood provides important insight into the nature of the Great Capitalist Restoration, its ideologically-driven impetus, and its eventual foundering on the shoals of instability, insecurity, inequality, and social and ecological unsustainability. The ineluctable crisis of the Great Capitalist Restoration provides another opportunity to construct a viable democratic economic future, one that avoids the pitfalls that brought down the corporate-welfare state, and offers more than inauthentic, joyless commodity consumption. To build the Road to this Future, we will need a powerful heterodox economic analysis of agency and governance, guided by a vision of an economy which is subordinate to the lives it provisions. Journal: Forum for Social Economics Pages: 7-17 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9065-6 File-URL: http://hdl.handle.net/10.1007/s12143-010-9065-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:7-17 Template-Type: ReDIF-Article 1.0 Author-Name: Phillip O’Hara Author-X-Name-First: Phillip Author-X-Name-Last: O’Hara Title: Economic Surplus, Social Reproduction, Nurturance and Love Abstract: This paper examines the contributions of James Ronald Stanfield to social and political economy. We start the analysis with Stanfield’s contribution to institution building through his education of PhD students, building a graduate program in political economy, and through the associations of social and political economy. Then we go on to scrutinise his creative developments and applications of the notions of economic surplus and social reproduction. This is followed by his extensive work on Karl Polanyi and the disembedded economy. Finally we explore his path-breaking analysis of the great capitalist restoration, the nurturance gap and love. Stanfield was one of the greatest institutionalists and social economists of the last hundred years, and these four areas of energetic creativity are his prime achievements in the area. Journal: Forum for Social Economics Pages: 19-40 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9072-7 File-URL: http://hdl.handle.net/10.1007/s12143-010-9072-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:19-40 Template-Type: ReDIF-Article 1.0 Author-Name: Kunibert Raffer Author-X-Name-First: Kunibert Author-X-Name-Last: Raffer Title: Neoliberal Capitalism: A Time Warp Backwards to Capitalism’s Origins? Abstract: The global economy’s neoliberal transformation recalls Polanyi’s analysis of the great transformation. Present policies of destroying the welfare state or breaking resistance to substantial real wage reductions, strongly recall the 1930s, Speenhamland and Vienna succumbing to the attack of political forces powerfully sustained by economic arguments. Brought about deliberately, “globalisation” is the preferred neoliberal argument. Deregulation, reducing public economic influence, the WTO-system and multilateral treaties lock-in present policies, reducing future governments’ options of change and preventing the return of Keynesianism. Privatisation opens huge private profit opportunities mostly realised at substantial costs to individuals or social costs, as the British railway system or boosting private pension funds illustrate. State intervention is generally condemned, but bailing-out speculators is welcome. Seen as dangerous to neoliberal capitalism, democracy is rolled back. These developments and economic crisis have again given rise to right-wing movements. The attack on Keynesian welfare policies occurred as predicted by Kalecki in 1943. The effects of neoliberalism are discussed in detail at the examples of trade policy, the liberalisation of capital accounts (promoted by the IMF in open breach of its own constitution), and the attack on the public pension system, which opens a riskless bonanza to private investors. Journal: Forum for Social Economics Pages: 41-62 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9070-9 File-URL: http://hdl.handle.net/10.1007/s12143-010-9070-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:41-62 Template-Type: ReDIF-Article 1.0 Author-Name: Doug Brown Author-X-Name-First: Doug Author-X-Name-Last: Brown Title: The Polanyi-Stanfield Contribution: Reembedded Globalization Abstract: This essay describes and interprets J. Ron Stanfield’s analysis of Karl Polanyi. Stanfield has helped to clarify Polanyi’s “double-movement” thesis by arguing that the double movement of self-regulating market forces and the protective response is essentially about freedom versus security. These insights provide an analysis that takes Polanyi into the twenty-first century by developing a theory of “reembedded globalization.” This is not something that Polanyi experienced before his death in 1964. Corporate globalization and the escalation of free-market rhetoric have led to a new round of disembedding since the 1970s, and this is evident by both the top-down, corporate globalization of privatization, deregulation, and marketization, as well as, by the challenges to it from the “movement of movements” coalescing around the World Social Forum. The most conspicuous evidence of this neo-protective response and its challenge to corporate-driven market forces is that between the security needs of the world’s globalization victims and the freedom of transnational corporations to make profits anywhere and in any way throughout the world. Understanding the clash in this way suggests that for humanity to save itself, it must struggle to reembed globalization and put security ahead of unbridled freedom. Reembedding globalization requires asserting democratic security ahead of the economic freedom of big business. Journal: Forum for Social Economics Pages: 63-77 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9066-5 File-URL: http://hdl.handle.net/10.1007/s12143-010-9066-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:63-77 Template-Type: ReDIF-Article 1.0 Author-Name: Edward O’Boyle Author-X-Name-First: Edward Author-X-Name-Last: O’Boyle Title: The Acting Person: Social Capital and Sustainable Development Abstract: Ron Stanfield has had a long and distinguished career as a social economist and commentator on the social economy. Of special concern to us in this article are Stanfield’s interests in social capital, sustainable development, and nurturance which we refer to as caring. We also take up several other virtues including sympathy, benevolence, and generosity that have been part of the economics literature from the time of Smith’s Moral Sentiments along with the associated vices of heartlessness, insensitivity, meanness, greediness, and others. This article attempts to show that (1) adding social capital to the machine-like individual of mainstream economics results in the acting person of personalist economics who becomes more fully a human person through social interactions that foster the development of several virtues or less fully a human person through other interactions that instill certain vices; and that (2) in matters relating to sustainability, becoming more fully a human person calls especially for the practice of the virtues of justice and moderation. In addition we have suggested a framework for thinking about sustainable development in terms of actuating and limiting principles and for developing critical values or performance standards for sustainable development that are person-centered. Journal: Forum for Social Economics Pages: 79-98 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9067-4 File-URL: http://hdl.handle.net/10.1007/s12143-010-9067-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:79-98 Template-Type: ReDIF-Article 1.0 Author-Name: Mary Wrenn Author-X-Name-First: Mary Author-X-Name-Last: Wrenn Title: The Economic Surplus as a Fund for Social Change and Postneoliberal Governance Abstract: The central problem in capitalism today is not one of scarce resources clashing against innate, insatiable wants. Rather, the modern problem of monopoly capitalism is one of abundance of production clashing against scarcity of consumers. Indeed, sustaining growth while fighting against excess capacity proves to be the biggest battle in business today, fought by the capitalist power structure with the tools of neoliberalism and globalization. The economic surplus, roughly sketched, represents that gap between productive resources and consumption, and thus represents the abundance that is possible given current technology. The argument set forth is that the economic surplus remains a powerful tool in describing economic relationships and social justice issues within the context of the Great Capitalist Restoration, but more importantly, that the economic surplus represents a tool for social change. The potential for socially just amelioration and change within post-neoliberal governance is explored with explicit reference to the qualitative and instrumental framework proposed by Ron Stanfield in his somewhat overlooked but incredibly important piece, “The Fund for Social Change” (1992). Journal: Forum for Social Economics Pages: 99-117 Issue: 1 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9071-8 File-URL: http://hdl.handle.net/10.1007/s12143-010-9071-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:1:p:99-117 Template-Type: ReDIF-Article 1.0 Author-Name: Georgios Argitis Author-X-Name-First: Georgios Author-X-Name-Last: Argitis Author-Name: Stella Michopoulou Author-X-Name-First: Stella Author-X-Name-Last: Michopoulou Title: Are Full Employment and Social Cohesion Possible Under Financialization? Abstract: Unemployment and unequal income distribution were singled out by J.M. Keynes, in the General Theory, as major faults of capitalist economies. This paper argues that there is a negative relationship between financialization and unemployment. In particular, we develop a simple Post Keyneian/Kaleckian model and explore distribution as well as institutional channels through which financialization might have negatively affected the employment performance of capitalist economies, undermining the social cohesion and egalitarian development. Furthermore, we argue that in the face of financialization full employment is likely to be attainable under the institutionalization of an Employer of Last Resort (hereafter ELR) policy strategy. Journal: Forum for Social Economics Pages: 139-155 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9078-1 File-URL: http://hdl.handle.net/10.1007/s12143-010-9078-1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:139-155 Template-Type: ReDIF-Article 1.0 Author-Name: Anton Oleinik Author-X-Name-First: Anton Author-X-Name-Last: Oleinik Title: Market as a Weapon: Domination by Virtue of a Constellation of Interests Abstract: The neoclassical approach toward explaining domination in the market is confronted with the approach of critical theory. Special attention is paid to domination by virtue of a constellation of interests in the market. This requires a particular technique for imposing will, namely conditional access to the market field. Interactions are modeled taking a field of domination composed of three organizational actors, one of them performing the function of drawing boundaries and controlling access. The concept of territoriality as spatially embedded power is applied to organization studies. Only one actor in the field has the ability to maximize its satisfaction, the two others minimize missed opportunities. Journal: Forum for Social Economics Pages: 157-177 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9081-6 File-URL: http://hdl.handle.net/10.1007/s12143-010-9081-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:157-177 Template-Type: ReDIF-Article 1.0 Author-Name: Shankaran Nambiar Author-X-Name-First: Shankaran Author-X-Name-Last: Nambiar Title: Capabilities and Constraints Abstract: Sen’s capability approach emphasises the importance of freedom and choice in leading the life that one values. This paper seeks to argue that, nonetheless, the capability approach is fully cognisant of the constraints that restrict individuals from achieving capabilities. Since the achievement of capabilities is set within a social context, and also because the constraints to capability-achievement are often of a social nature, it is useful to keep in mind the social context. An account of the capability approach that places adequate stress on the constraints that confront individuals and the institutional context will describe their situation more accurately; it will also be of more use for policy purposes. Journal: Forum for Social Economics Pages: 179-195 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9082-5 File-URL: http://hdl.handle.net/10.1007/s12143-010-9082-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:179-195 Template-Type: ReDIF-Article 1.0 Author-Name: Kavous Ardalan Author-X-Name-First: Kavous Author-X-Name-Last: Ardalan Title: On the Role of Paradigms in Understanding Economic Globalization Abstract: Any adequate analysis of economic globalization necessarily requires fundamental understanding of the worldviews underlying the views expressed with respect to the nature and role of economic globalization. This paper is based on the premise that any worldview can be associated with one of the four basic paradigms: functionalist, interpretive, radical humanist, and radical structuralist. It argues that any view expressed with respect to economic globalization is based on one of the four paradigms or worldviews. It, therefore, discusses four views with respect to the nature and role of economic globalization which correspond to the four broad worldviews. The paper emphasizes that the four views expressed are equally scientific and informative; they look at the nature and role of economic globalization from a certain paradigmatic viewpoint. Emphasizing this example in the area of economic globalization, the paper concludes that there are opportunities for each paradigm to benefit from contributions coming from the other three paradigms. Journal: Forum for Social Economics Pages: 197-219 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-009-9054-9 File-URL: http://hdl.handle.net/10.1007/s12143-009-9054-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:197-219 Template-Type: ReDIF-Article 1.0 Author-Name: Prateek Goorha Author-X-Name-First: Prateek Author-X-Name-Last: Goorha Title: Some Insights on Religion from Public Goods Economics Abstract: This paper provides a theoretical discussion on what analytical insight is gained by viewing religion as both a pure and impure public good. It suggests that organized religion converts a public good into an excludable club good and can be viewed as providing both an access regime for this club good as well as acting as an intermediary. Interestingly, this drives a wedge between the ardent and moderate adherents of a religion. It also presents an analysis of trust in social relationships when organized religion works to provide a credible signal of trustworthiness. Journal: Forum for Social Economics Pages: 221-231 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9080-7 File-URL: http://hdl.handle.net/10.1007/s12143-010-9080-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:221-231 Template-Type: ReDIF-Article 1.0 Author-Name: Zoran Slavnic Author-X-Name-First: Zoran Author-X-Name-Last: Slavnic Title: Struggle for Survival in the Deregulated Market: Re-commodification and Informalisation of the Taxi Sector in Stockholm Abstract: This paper investigates the process of the informalization of the Swedish taxi industry, focusing on how this process has been manifested in Stockholm’s taxi market. This process has been analysed partly in its particular, local and sector-specific context, as it has been affected by the deregulation of the taxi sector, and partly in its relationship to the broader context of economic and political changes to which all contemporary capitalistic (welfare) states are exposed. This study raises questions about actual common sense discourses on the issue of irregularities in the taxi industry, and offers an alternative perspective both on the ongoing process of informalization, and on the role of various economic actors in that process, including the state. Journal: Forum for Social Economics Pages: 233-251 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-009-9060-y File-URL: http://hdl.handle.net/10.1007/s12143-009-9060-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:233-251 Template-Type: ReDIF-Article 1.0 Author-Name: Mark Pernecky Author-X-Name-First: Mark Author-X-Name-Last: Pernecky Author-Name: Thomas Richter Author-X-Name-First: Thomas Author-X-Name-Last: Richter Title: Keynes’ Preface to the German Edition of the General Theory: Nazi Sympathies or Methodological Empathies? Abstract: In the (1936) preface to the German edition of The General Theory of Employment, Interest and Money, Keynes contrasts his methodology with that of Classical laissez-faire economics. He also compares and contrasts his methodology with German economics, which members of the German Historical School had heavily influenced. Unfortunately, some view Keynes as arguing in this Preface that his theory could more deductively apply to fascism than to laissez-faire economies. This would suggest an endorsement of Nazism. Of course, any support offered for Nazism should be condemned. However, instead of displaying Nazi sympathies, this paper argues that the Preface more likely supports the widespread methodological rejection in German economics of deducing laissez-faire outcomes from Classical postulates. Furthermore, Keynes criticizes the more inductive approach of many German economists, and states that he provides them with the theoretical framework which they could deductively apply to their totalitarian economy. Keynes should be read as arguing that his theoretical framework would prove more applicable to a totalitarian system than would a theory based on Classical laissez-faire economics. Comments in the Preface which seem to some to support Nazism should be taken, then, as support for the applicability of his theory to such a system. Keynes’ methodological arguments in the prefaces to the other editions, which reflect his overall methodological approach in the General Theory, his familiarity with German economics, his support for liberal economic and political institutions, and his anti-Nazism, all support this alternative interpretation. An earlier version of this paper was presented at the Midwest Economics Association Meetings in Chicago on March 16, 2008. Journal: Forum for Social Economics Pages: 253-264 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-009-9056-7 File-URL: http://hdl.handle.net/10.1007/s12143-009-9056-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:253-264 Template-Type: ReDIF-Article 1.0 Author-Name: David George Author-X-Name-First: David Author-X-Name-Last: George Title: A Convoluted Path Abstract: In the first part of this paper, I described the events that led me from psychology into economics, and how the Association for Social Economics provided the ideal setting for someone attracted to economics but who disagreed with the normative conclusions of the mainstream. In the second part, I suggest three areas that will be of increasing importance in the near future—addictive behaviors, rising inequality, and global warming—each of which social economists are particularly well-suited to tackle. Journal: Forum for Social Economics Pages: 265-272 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9061-x File-URL: http://hdl.handle.net/10.1007/s12143-010-9061-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:265-272 Template-Type: ReDIF-Article 1.0 Author-Name: Charles Whalen Author-X-Name-First: Charles Author-X-Name-Last: Whalen Title: Minsky Goes to Buffalo—and Takes on the Economics Establishment Abstract: This essay is based on remarks presented by the author at The Fourth Bi-Annual Cross-Border Post Keynesian Conference, Buffalo State College, on October 9, 2009. It addresses the economic challenges facing Buffalo, New York, and countless other American cities, especially in the Northeast and Midwest; draws on the writings of Hyman Minsky to offer an interpretation of what many now call the Great Recession, which began in late 2007; and challenges the image of Minsky presented by mainstream economists and journalists, with special attention to a recent lecture by Paul Krugman. The essay closes by returning to Buffalo, where—as Minsky anticipated in the 1990s—the economic fate of working families depends largely on the outcome of a national struggle over the shape of future U.S. economic transformation. Journal: Forum for Social Economics Pages: 273-280 Issue: 2 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9074-5 File-URL: http://hdl.handle.net/10.1007/s12143-010-9074-5 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:2:p:273-280 Template-Type: ReDIF-Article 1.0 Author-Name: Valeria Sodano Author-X-Name-First: Valeria Author-X-Name-Last: Sodano Title: The New Division of Labor in the Globalized Economy: Women’s Challenges and Opportunities Abstract: The way in which the new international division of labor (NIDL) in the globalized economy affects gender inequalities has not been sufficiently explored yet. The body of literature on commodity chains that has attempted to assess the welfare effects of the NIDL, especially in less developed countries, has paid sparse attention to gender issues. Globalization has entailed the deverticalization of commodity supply chains and the emergence of highly concentrated financial groups and transnational companies linked to a network of firms operating as affiliates and suppliers, namely the global commodity chains. The NIDL could worsen gender inequality, due to the particular organizational strategies in global commodity chains that privilege power, instead of trust and market exchange, as the major form of governance and means for resource allocation. Because women represent the poorest swathe of the world’s population, they suffer the most from the growing wealth inequality and the concentration of power produced by the NIDL. Moreover, because of the traditional sexual division of labor and because of their low status in society, women are the most harshly exploited subjects in the system. The general conclusion of the paper is that in the NIDL the main means of resource allocation are not competitive markets, as often suggested by the GCV literature and mainstream economics, but are instead power relations that ultimately stem from the patriarchal culture of violence and domination. Journal: Forum for Social Economics Pages: 281-298 Issue: 3 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-011-9096-7 File-URL: http://hdl.handle.net/10.1007/s12143-011-9096-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:3:p:281-298 Template-Type: ReDIF-Article 1.0 Author-Name: John Posey Author-X-Name-First: John Author-X-Name-Last: Posey Title: The Local Economy Movement: An Alternative to Neoliberalism? Abstract: The economic turmoil of the last 2 years has shown that hyper-globalized capitalism is inherently crisis prone, and that it has been unable to create sustainable prosperity. Unfortunately, the left has failed to convincingly refute Margaret Thatcher’s assertion that “there is no alternative.” There is, however, a growing social movement that aims to promote small, locally-scaled enterprises. This essay argues that the local economy movement can potentially provide a unifying principle for a new progressive agenda. However, localizers must take seriously the possible loss of gains from trade. In addition, it is important to resist a naive localism that romanticizes the local while ignoring action at other scales. Journal: Forum for Social Economics Pages: 299-312 Issue: 3 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-011-9097-6 File-URL: http://hdl.handle.net/10.1007/s12143-011-9097-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:3:p:299-312 Template-Type: ReDIF-Article 1.0 Author-Name: Berhanu Nega Author-X-Name-First: Berhanu Author-X-Name-Last: Nega Title: Short Changing the Value of Democracy for Economic Development in Africa Abstract: Official donor policy towards Africa seems to be informed by the twin requirements of alleviating poverty on the one hand and ensuring respect for human rights and democratization on the other. In practice, when these interests conflict, as they usually do in Africa, donors tend to choose to continue supporting dictatorships, arguing that economic development will eventually lead to democratization. This paper argues that this faulty reasoning is a product of modernization theory that has had undue influence in western policy circles. Based on a broad survey of the literature, the paper shows that there is no theoretical or empirical basis for the claim that authoritarian regimes would provide better economic performance than democracies in general and particularly in Africa. Furthermore, available evidence suggests that the lack of democratization (defined broadly to include the substance of democracy such as government accountability and basic freedoms in addition to meaningful democratic elections) is a key constraint on economic and social development in Africa. Finally, the paper argues that even when the empirical case to establish a definite causal relationship between democratization and development cannot be ascertained, a very strong case can be made for prioritizing democratization for the long term societal transformation of the continent. Journal: Forum for Social Economics Pages: 313-334 Issue: 3 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-011-9089-6 File-URL: http://hdl.handle.net/10.1007/s12143-011-9089-6 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:3:p:313-334 Template-Type: ReDIF-Article 1.0 Author-Name: Anna Carabelli Author-X-Name-First: Anna Author-X-Name-Last: Carabelli Author-Name: Mario Cedrini Author-X-Name-First: Mario Author-X-Name-Last: Cedrini Title: The Economic Problem of Happiness: Keynes on Happiness and Economics Abstract: By stressing the substantial continuity of vision between John Maynard Keynes’s early unpublished essays and his more mature writings, the paper discusses Keynes’s ethics and focuses on his thoughts about happiness. In particular, we emphasize the anti-utilitarianism of Keynes’s vision and his belief that material wealth is but a precondition to enjoy the possibilities of a good life, and direct attention to problems of incommensurability raised by the multidimensional nature of happiness as considered by Keynes. We then argue that the rediscovery of Keynes’s legacy in this respect may be a precious counterweight to the most controversial aspects of today’s happiness research. Journal: Forum for Social Economics Pages: 335-359 Issue: 3 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-010-9085-2 File-URL: http://hdl.handle.net/10.1007/s12143-010-9085-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:3:p:335-359 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Ashford Author-X-Name-First: Robert Author-X-Name-Last: Ashford Title: Economics, Democracy, and the Distribution of Capital Ownership Abstract: This article holds that widespread, practical access to capital acquisition is essential for sustainable widespread economic prosperity and democracy. The founders of the U.S.A. agreed that sustainable democracy required widespread ownership of land to provide a viable earning capacity sufficient to support robust participation in democratic government. The importance of widespread land ownership to individual prosperity and sustainable democracy was supported not only by the prevailing philosophical views of property, it was also apparent to the common man and woman. Compared to Europe, America offered widespread access to land ownership, higher wages, better work conditions, cheaper staples and greater individual freedom, equal opportunity, prosperity, and political participation. This conviction that widespread access to ownership is a necessary condition for widespread prosperity and sustainable democracy continued throughout most of the nineteenth century, but today public discourse reveals virtually no trace of this once universally held opinion. This article suggests that the disappearance of this conviction can be traced to an erroneous view shaped by neoclassical economics and Keynesian economics. According to this view, (1) the disappearance of the American frontier and industrialization made the goal of widespread capital ownership either impractical or of little or no economic significance and (2) by way of technological advance, sufficient earning capacity and consumer demand to promote growth and sustain democracy can be achieved, without widespread ownership, primarily through jobs and welfare. Although differing in many respects, both mainstream schools, along with Adam Smith’s classical economics, share one common but unstated economic assumption: the broader distribution of capital acquisition (in itself) has no fundamental relationship to the fuller employment of people and capital, the broader distribution of greater individual earning capacity, and growth. Contemporary thinking, shaped by these economic schools, also tacitly assumes that widespread capital ownership is not essential for the sustainable individual earning capacity needed to support robust democracy. This erroneous “ownership-neutrality assumption” (1) contradicts both the views of America’s founders and the colonial experience, and (2) provides theoretical justification for structuring capital markets and capital acquisition transactions to unfairly and dysfunctionally favor existing owners at the expense of broader ownership distribution, more widely shared prosperity, greater efficiency, ecologically friendly growth, and a vital democracy. America’s conscientious founders would be shocked by the diminished importance of the distribution of ownership in the mainstream analysis of prices, efficiency, production, growth, and democracy. Rather than enhancing democracy, they would view the “ownership-neutrality assumption” of mainstream economics as contributing to its deterioration and corruption. They would openly search for economic analysis built on an alternate assumption more consistent with their understanding of the requisite conditions for sustainable democracy. This article advances an economic analysis that suspends the ownership-neutrality assumption, replaces it with a “broader-ownership-growth assumption,” and suggests a voluntary market strategy for substantially broadening capital ownership, enhancing individual earning capacity, and providing the widespread economic prosperity needed for robust democracy. Journal: Forum for Social Economics Pages: 361-370 Issue: 3 Volume: 40 Year: 2011 Month: 1 X-DOI: 10.1007/s12143-011-9092-y File-URL: http://hdl.handle.net/10.1007/s12143-011-9092-y File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:40:y:2011:i:3:p:361-370 Template-Type: ReDIF-Article 1.0 Author-Name: Dimitris Milonakis Author-X-Name-First: Dimitris Author-X-Name-Last: Milonakis Title: Introduction by the Guest Editor of the Special Issue Journal: Forum for Social Economics Pages: 4-5 Issue: 1 Volume: 41 Year: 2012 Month: 4 X-DOI: 10.1080/07360932.2012.703539 File-URL: http://hdl.handle.net/10.1080/07360932.2012.703539 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:1:p:4-5 Template-Type: ReDIF-Article 1.0 Author-Name: Thanasis Maniatis Author-X-Name-First: Thanasis Author-X-Name-Last: Maniatis Title: Marxist Theories of Crisis and the Current Economic Crisis Abstract: Abstract This paper uses data from the US economy and finds that among Marxist theories of crisis the marxian law of the falling rate of profit as a result of the increasing composition of capital explains the crisis of the 1970s and the end of the “golden age” of capital accumulation. Despite the dramatic increase in the rate of surplus value and the limited fall in the capital-output ratio profitability has not recovered sufficiently during the neoliberal period due to the survival of lagging capitals and the increasing use of unproductive labor. Financialization is one of the effects of low profitability. In the recent years financial bubbles the associated wealth effects and the significant increase in the debt of all domestic sectors raised aggregate demand and provided the stimulus for the anemic growth of the period. The break of the bubbles implies the return to the weak fundamentals of the real economy and possibly a deep and prolonged period of stagnation and crisis. Journal: Forum for Social Economics Pages: 6-29 Issue: 1 Volume: 41 Year: 2012 Month: 4 X-DOI: 10.1007/s12143-010-9076-3 File-URL: http://hdl.handle.net/10.1007/s12143-010-9076-3 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:1:p:6-29 Template-Type: ReDIF-Article 1.0 Author-Name: Angelos T. Vouldis Author-X-Name-First: Angelos T. Author-X-Name-Last: Vouldis Author-Name: Panayotis G. Michaelides Author-X-Name-First: Panayotis G. Author-X-Name-Last: Michaelides Author-Name: John G. Milios Author-X-Name-First: John G. Author-X-Name-Last: Milios Title: Emil Lederer’s Theory of Economic Fluctuations and the Role of Financial Institutions Abstract: Abstract Emil Lederer was characterized as the “leading academic socialist of Germany in the 1920’s” by Joseph Schumpeter and was a highly respected economist of his time. However, most aspects of his work remain totally unexplored. This paper focuses on Emil Lederer’s theory of economic fluctuations defending the thesis that certain aspects of Lederer’s conceptualization of economic fluctuations underwent considerable modifications when his 1925 article Konjunktur und Krisen is compared with his 1938 book Technical Progress and Unemployment, a shift unacknowledged so far in the literature. In his first attempt to tackle the issue, in Konjunktur und Krisen (1925), Lederer had constructed an explanation consistent with the so-called “disproportionality theory” introduced by Tugan-Baranowsky (codified as “early Lederer”). However, Lederer’s conception of the business cycle during the 1930s and especially in his major work Technical Progress and Unemployment underwent considerable modifications. Lederer’s (1938) analysis is, apparently, very ‘Schumpeterian’ (codified as “late Lederer”). In this version of his theory, the cycle is explained by supply-side factors, and more specifically by technical change. Additionally, Lederer’s view on the role of financial institutions (credit and banks) with regards to business cycles is analysed. Lederer avoided attributing a causative role to monetary factors. The interrelation between ‘real’ factors and financial institutions constitutes an essential element in his analysis of the business cycle. Journal: Forum for Social Economics Pages: 30-45 Issue: 1 Volume: 41 Year: 2012 Month: 4 X-DOI: 10.1007/s12143-010-9086-1 File-URL: http://hdl.handle.net/10.1007/s12143-010-9086-1 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:1:p:30-45 Template-Type: ReDIF-Article 1.0 Author-Name: Alexandre Abreu Author-X-Name-First: Alexandre Author-X-Name-Last: Abreu Title: The New Economics of Labor Migration: Beware of Neoclassicals Bearing Gifts Abstract: Abstract Until the emergence of the New Economics of Labor Migration (NELM) in the 1980s, migration scholars were largely divided into two main theoretical camps, viz. the neoclassical and historical-structural approaches to migration. Against this background, the NELM presented itself as a theoretical ‘third way’ between the two latter approaches, and purported to reconcile agency and structure in a way previously unachieved by either of them. While those pretensions gained a fair amount of acceptance and popularity, this paper argues that they are fundamentally misleading, and that the NELM is little more than a slightly more sophisticated avatar of the neoclassical approach to migration, whose fundamental weaknesses it has not, and cannot, shed. This paper further argues that, in so doing, the NELM effectively constitutes migration theory's own instance of economics imperialism, i.e. the attempt to advance the fundamental tenets of neoclassical economics (methodological individualism and the assumption of optimizing rationality) within the context of the study and interpretation of various social phenomena. In order to put forth these arguments, this paper provides a summary presentation of the standard neoclassical theory of migration, the historical-structural heterodoxy and the NELM; highlights why it is that the NELM should be regarded as a ‘reworked’ version of the neoclassical theoretical framework and discusses its inception in the context of the ‘information-theoretic revolution’ in economics; and argues for a new and improved ‘historical-structural synthesis’ as a more satisfactory alternative to both the NELM and the standard neoclassical theory. Journal: Forum for Social Economics Pages: 46-67 Issue: 1 Volume: 41 Year: 2012 Month: 4 X-DOI: 10.1007/s12143-010-9077-2 File-URL: http://hdl.handle.net/10.1007/s12143-010-9077-2 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:1:p:46-67 Template-Type: ReDIF-Article 1.0 Author-Name: Matilde Adduci Author-X-Name-First: Matilde Author-X-Name-Last: Adduci Title: Neoliberalism and Class Reproduction in India: The Political Economy of Privatisation in the Mineral Sector in the Indian State of Orissa Abstract: Abstract Recent years have witnessed a process of integration of the Indian Union within the new international economic order, characterised by the ascendance of neoliberalism. Orissa, historically one of the Indian states mostly affected by severe poverty and economic stagnation though richly endowed with natural resources, has enthusiastically endorsed the neo-liberal project, implementing all the relevant national policies related to it. In the last 15 years, while the economic policy of the State of Orissa has been thus increasingly shaped according to the neoliberal guidelines recommended by the Centre, the disturbing socio-economic scenario of the State has not changed significantly. This paper aims to highlight how specific power relations in the State of Orissa are reproducing themselves in the course of the transition of the Indian Union towards the neoliberal order. This paper aims to consider as an example of this process the privatisation policies in the mining sector, namely the main economic sector of Orissa. Moving from the fundamental role historically played by Orissa within the Indian Union as a supplier of raw materials to the pan-Indian market, the paper intends to highlight the rentier character of the Orissan dominant class, traditionally capable of performing a basic intermediary function in the provision of raw materials to the Indian market. Once taken into account the socio-economic role historically played by the local dominant class in Orissa within the context of the wider capitalist dynamics at work at the all-Indian level, the paper will focus on the scenario which came into being since the start of the neoliberal economic reforms in 1991. The major shifts in the mineral policy at the central level since 1991 will be taken into account and, within this context, the implementation of privatisation policy in the mineral sector in Orissa will be analysed, with special reference its socio-economic implications. The paper aims to highlight the way in which the State of Orissa has broadened its traditional role, becoming an important supplier of raw material not only to the all-Indian market, but to the international market in general. It will be argued as well that, in continuity with the past, the intermediary function of the local dominant class in this process has remained fundamental. Therefore the paper aims to argue that the current scenario supports the proposition that the unfolding of neoliberal dynamics in Orissa opened the way for the creation of new spaces of social reproduction for the local dominant class and, with them, for the reproduction of old relations of power and social domination in the State. Journal: Forum for Social Economics Pages: 68-96 Issue: 1 Volume: 41 Year: 2012 Month: 4 X-DOI: 10.1007/s12143-011-9091-z File-URL: http://hdl.handle.net/10.1007/s12143-011-9091-z File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:1:p:68-96 Template-Type: ReDIF-Article 1.0 Author-Name: Satoshi Miyamura Author-X-Name-First: Satoshi Author-X-Name-Last: Miyamura Title: Emerging Consensus on Labour Market Institutions and Implications for Developing Countries: From the Debates in India Abstract: Abstract This paper makes a critical intervention to on-going theoretical and policy debates in the economic analysis of labour market institutions (LMIs) in the context of recent debates in India. It focuses on the internal inconsistency of mainstream economic analyses of LMIs, in particular those based on the new institutional economics (NIE) approach, and what appears to be an emerging policy consensus on LMIs within the World Bank and the International Labour Organization (ILO). The paper draws out the possible ideological parallels in these two developments, despite different intellectual origins and intentions of those engaged in these debates. A corresponding modification in policy debates in India is observed in the shifting perspectives from the Second National Commission on Labour (SNCL) to the National Commission for Enterprises in the Unorganised Sector (NCEUS). The apparent emerging consensus in both the theoretical literature and policy debates reveals the tendency for researchers to focus on labour market outcomes and phenomenal forms of LMIs rather than the structures, processes, agencies and relations that underpin them. While this can be seen as an advancement from the traditional distortionist-institutionalist dichotomy, the tendency of this consensus to explain the persistence of seemingly inefficient institutions within the micro-level choice theoretic framework and its appeal to policy agendas on good governance, social capital, trust and civil society, render it vulnerable to appropriation by the mainstream. The paper argues that the emerging consensus on LMIs is an inadequate framework to inform effective policy propositions, and highlights the scope and opportunity for a political economy alternative. Journal: Forum for Social Economics Pages: 97-123 Issue: 1 Volume: 41 Year: 2012 Month: 4 X-DOI: 10.1007/s12143-011-9099-4 File-URL: http://hdl.handle.net/10.1007/s12143-011-9099-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:1:p:97-123 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Economic Development, State, Policy, and Social Well-Being -- Welcoming the Forum's Double Issue 2--3/2012 Journal: Forum for Social Economics Pages: 129-130 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1080/07360932.2012.740331 File-URL: http://hdl.handle.net/10.1080/07360932.2012.740331 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:129-130 Template-Type: ReDIF-Article 1.0 Author-Name: Nikolaos Karagiannis Author-X-Name-First: Nikolaos Author-X-Name-Last: Karagiannis Author-Name: Zagros Madjd-Sadjadi Author-X-Name-First: Zagros Author-X-Name-Last: Madjd-Sadjadi Title: A New Economic Strategy for the USA: A Framework of Alternative Development Notions Abstract: Abstract This paper seeks to provide a new economic strategy for the United States while considering a range of development-related impediments to the country’s recent economic performance. It is argued here that strategic industrial policy needs to come to the center stage if local production growth, competency upgrading, and competitiveness improvement are to be aggressively pursued. The first section outlines the present context of the US economy by discussing economic and socio-cultural aspects. The second main section frames an alternative development paradigm for the United States. Policy recommendations are discussed in the third section. Some brief conclusions end the paper. Journal: Forum for Social Economics Pages: 131-165 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-011-9094-9 File-URL: http://hdl.handle.net/10.1007/s12143-011-9094-9 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:131-165 Template-Type: ReDIF-Article 1.0 Author-Name: Morris Altman Author-X-Name-First: Morris Author-X-Name-Last: Altman Title: The Living Wage, Economic Efficiency, and Socio-Economic Wellbeing in a Competitive Market Economy Abstract: Abstract Conventional economic wisdom views a Living Wage as costly in term of economic efficiency and competitiveness. I argue, based on x-efficiency theory, that higher wages need not cause any economic harm and can, on the contrary, generate higher levels of material wellbeing. Higher wages can be expected to induce x-efficiency and technological change cost offsets. In this context, an effective living wage, one that is above some subsistence minimum, can have a net efficiency effect on the economy. Therefore, a living wage greater than the wage rate generated by the free market cannot be predicted to generate economic harm. With the institutional parameters in place to realize a living wage, the economic pie can be expected to grow to accommodate the living wage. Journal: Forum for Social Economics Pages: 166-186 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-011-9095-8 File-URL: http://hdl.handle.net/10.1007/s12143-011-9095-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:166-186 Template-Type: ReDIF-Article 1.0 Author-Name: Rojhat B. Avsar Author-X-Name-First: Rojhat B. Author-X-Name-Last: Avsar Title: On the Pro-Social Security Rhetoric Abstract: Abstract We propose to reframe Social Security to offer a coherent anti-privatization rhetoric that has not been fully provided in the contemporary literature. The dissatisfaction that motivated this study centers on the observation that the prevalent anti-privatization rhetoric exposes the drawbacks of Private Retirement Accounts (PRAs), but this rhetoric itself doesn't satisfactorily explain why the current Social Security system is more desirable. In reframing Social Security, we will follow a two-stage strategy. First, we will articulate the desirability of Social Security grounded in the function it serves in a way PRAs are not suited for serving: being a social income insurance scheme whose provision inherently favors the least fortunate in a Rawlsian fashion. Second, we will concentrate how Social Security provides this non-market choice by drawing on the unique resources not entirely available to the market. Journal: Forum for Social Economics Pages: 187-205 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-010-9083-4 File-URL: http://hdl.handle.net/10.1007/s12143-010-9083-4 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:187-205 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Mann Author-X-Name-First: Stefan Author-X-Name-Last: Mann Author-Name: Miriam Gairing Author-X-Name-First: Miriam Author-X-Name-Last: Gairing Title: Does Libertarian Paternalism Reconcile Merit Goods Theory with Mainstream Economics? Abstract: Abstract In the wake of Musgrave's move to question the absolute hegemony of individual preferences for normative economics in the 1950's by propounding the existence of merit goods, a recent book by Thaler and Sunstein is now making a similar claim under the label of ‘libertarian paternalism’. This paper tackles the question of why the framework of libertarian paternalism has received a so much more friendly reception among economists than the theory of merit goods. The main reason is a better foundation, not only for the conditions under which paternalism may be justified but also for the tools that should be applied, utilizing transaction cost theory. Journal: Forum for Social Economics Pages: 206-219 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-010-9084-3 File-URL: http://hdl.handle.net/10.1007/s12143-010-9084-3 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:206-219 Template-Type: ReDIF-Article 1.0 Author-Name: Kavous Ardalan Author-X-Name-First: Kavous Author-X-Name-Last: Ardalan Title: Globalization and State: Four Paradigmatic Views Abstract: Abstract Any adequate analysis of globalization and state necessarily requires fundamental understanding of the worldviews underlying the views expressed with respect to the nature and role of globalization and state. This paper is based on the premise that any worldview can be associated with one of the four basic paradigms: functionalist, interpretive, radical humanist, and radical structuralist. It argues that any view expressed with respect to globalization and state is based on one of the four paradigms or worldviews. It, therefore, discusses four views with respect to the nature and role of globalization and state which correspond to the four broad worldviews. The paper emphasizes that the four views expressed are equally scientific and informative; they look at the nature and role of globalization and state from a certain paradigmatic viewpoint. Emphasizing this example in the area of globalization and state, the paper concludes that there are opportunities for each paradigm to benefit from contributions coming from the other three paradigms. Journal: Forum for Social Economics Pages: 220-251 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-010-9079-0 File-URL: http://hdl.handle.net/10.1007/s12143-010-9079-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:220-251 Template-Type: ReDIF-Article 1.0 Author-Name: Robert W. Dimand Author-X-Name-First: Robert W. Author-X-Name-Last: Dimand Author-Name: Robert H. Koehn Author-X-Name-First: Robert H. Author-X-Name-Last: Koehn Title: Guy Routh's Heterodox Critique of Economic Methodology Abstract: Abstract Guy Routh was an outstandingly incisive and severe critic of mainstream economic theory's abstraction, class bias, and empirical irrelevance. Routh's The Origin of Economic Ideas (1975 1989), with such chapter titles as “The Preposterous Origins” and “From Propaganda to Dogma”, was described by Robert Heilbroner as “irreverent, original, controversial, and delightful” while J. K. Galbraith expressed his “utmost enjoyment” and “utmost approval” of the book. Routh's trenchant critique of mainstream theorizing and his vision of an empirically-grounded alternative have been largely forgotten since his death in 1993, but deserve the attention of heterodox and especially of institutionalist and social economists. Journal: Forum for Social Economics Pages: 252-262 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-011-9088-7 File-URL: http://hdl.handle.net/10.1007/s12143-011-9088-7 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:252-262 Template-Type: ReDIF-Article 1.0 Author-Name: Luigi Bosco Author-X-Name-First: Luigi Author-X-Name-Last: Bosco Title: Competition for Power and Altruism Abstract: Abstract The paper analyzes the trade-off between power and altruism by using an experimental framework which involved a group of experimental agents, undergraduate students of the University of Siena. The results show that the introduction into the experimental structure of a tournament for the power appreciably altered the behaviour of agents. More specifically the degree of altruism, measured by the dictator offers, significantly decreased when the agents were able to trade altruism for power. The results were more clear-cut and robust in the case of the dictator game, but also in the case of the ultimatum game the introduction of the tournament for power altered the behavior of subjects. A significant gender effect emerged. Journal: Forum for Social Economics Pages: 263-296 Issue: 2-3 Volume: 41 Year: 2012 Month: 7 X-DOI: 10.1007/s12143-011-9087-8 File-URL: http://hdl.handle.net/10.1007/s12143-011-9087-8 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:41:y:2012:i:2-3:p:263-296 Template-Type: ReDIF-Article 1.0 Author-Name: Geoff Schneider Author-X-Name-First: Geoff Author-X-Name-Last: Schneider Author-Name: Daniel Underwood Author-X-Name-First: Daniel Author-X-Name-Last: Underwood Title: Introduction to Teaching Social Economics Journal: Forum for Social Economics Pages: 1-4 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2013.780379 File-URL: http://hdl.handle.net/10.1080/07360932.2013.780379 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:1-4 Template-Type: ReDIF-Article 1.0 Author-Name: Daniel A. Underwood Author-X-Name-First: Daniel A. Author-X-Name-Last: Underwood Title: Critical Thinking and Applied Political Economy: Towards Understanding the Social Construction of Reality Abstract: Abstract This article provides a design template to construct a macroeconomics course using a multiparadigmatic approach using discovery based learning. Students use alternative paradigms--Classical, Keynesian, Institutionalist, Marxist, Monetarist, Schumpterian--to explore forces explaining the business cycle. They access and manipulate primary economic data to evaluate distributional outcomes using applied political economy; the use of alternative paradigms to systematically trace out how economic science is used to support policies directing the distribution of income. The course capstone applies economic paradigms and data analysis to evaluate policy propositions related to contemporary macroeconomic issues. Journal: Forum for Social Economics Pages: 5-23 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2012.726146 File-URL: http://hdl.handle.net/10.1080/07360932.2012.726146 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:5-23 Template-Type: ReDIF-Article 1.0 Author-Name: Mark Lautzenheiser Author-X-Name-First: Mark Author-X-Name-Last: Lautzenheiser Author-Name: Yavuz Yaşar Author-X-Name-First: Yavuz Author-X-Name-Last: Yaşar Title: Krugman Meets Marx and Keynes at the Baby-Sitting Co-op Abstract: Abstract Paul Krugman tells the story of the Capitol Hill baby-sitting co-op as a means of introducing readers to the economics of recessions. We take the story from where Krugman stops and develop it by presenting different aspects of a monetary economy with the help of a graphical analysis. This is done with the introduction of history of economic thought to the curriculum by visiting monetary theories of Karl Marx's Capital (1867) and John Maynard Keynes's A Treatise on Money (1930). The benefit of using these two sources is twofold. First, it is possible to find a common theory in both Marx and Keynes's writings to explain the baby-sitting co-op story. Second, it is possible to move beyond the story and introduce other aspects of a monetary economy such as endogenoity of money, industrial and financial circulation of money, etc. In addition, a graphical framework is developed as teaching aid. Journal: Forum for Social Economics Pages: 24-37 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1007/s12143-011-9090-0 File-URL: http://hdl.handle.net/10.1007/s12143-011-9090-0 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:24-37 Template-Type: ReDIF-Article 1.0 Author-Name: Kevin Furey Author-X-Name-First: Kevin Author-X-Name-Last: Furey Title: A Reading on Money and Money Creation Abstract: A difficulty in teaching undergraduate courses from a non-orthodox perspective is the lack of written material to draw upon. This reading, written for an introductory macroeconomics course, is an attempt to fill a small part of that void by providing a discussion of money creation from an endogenous money perspective. By focusing on the ability of banks to engage in asset and liability management, the reading makes it easy for students to comprehend why investment is never constrained by a lack of saving. For those who are compelled to also present the orthodox perspective, the question is which view to discuss first. Based on readings in cognitive science, unveiling the non-orthodox material first will greatly increase the chances students will analyze social problems from a non-orthodox perspective. Consequently, this reading is designed to be the student's first encounter with the subject of money and money creation. Orthodox textbooks usually omit from their balance sheets the two items that allow banks to make loans without excess reserves. By presenting the non-orthodox view first, students easily see the problems with the orthodox money multiplier approach. Journal: Forum for Social Economics Pages: 38-58 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2013.770775 File-URL: http://hdl.handle.net/10.1080/07360932.2013.770775 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:38-58 Template-Type: ReDIF-Article 1.0 Author-Name: Aaron Pacitti Author-X-Name-First: Aaron Author-X-Name-Last: Pacitti Author-Name: W. Scott Trees Author-X-Name-First: W. Scott Author-X-Name-Last: Trees Title: Minimum Wages and Economic Justice: A Classroom Exercise Abstract: Abstract This paper presents a classroom exercise for an introductory economics course that allows students to discover the economic and social impacts of working for minimum wages. Students are asked to estimate a budget necessary for both a desirable and sustainable standard of living for those earning a minimum wage income. By engaging in active learning on topics such as economic justice, normative economic policy, living wages, and non-material needs, the exercise is an effective vehicle for integrating social economics into a principles course; and offers an opportunity to augment traditional economic pedagogy. Extensions, variations, and a suggested assessment tool for the exercise are also provided. Journal: Forum for Social Economics Pages: 59-69 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2012.684099 File-URL: http://hdl.handle.net/10.1080/07360932.2012.684099 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:59-69 Template-Type: ReDIF-Article 1.0 Author-Name: Timothy Wunder Author-X-Name-First: Timothy Author-X-Name-Last: Wunder Title: But That Is Unfair Professor: Using a Grade Structure to Help Students Understand Income Quintiles Abstract: Abstract Economic instructors exploring issues of income disparities will often be facing students who are apathetic towards the topic. Although income disparities have grown in the US, the university experience is still overwhelmingly dominated by students coming from middle and upper class families who will rarely have personal experiences with poverty which may be part of the reason why so many students lack interest. By suggesting that a flat uniform grade distribution system will be used in the class, students often become frightened by the inevitable outcome that a large percent of the class will automatically receive low grades. This emotional reaction can then be used as an anchoring point for students to recognize the inevitability of poverty with respect to capitalist systems. This method almost always provokes heated and interesting classroom conversations and forces many students to rethink the issue of income inequality in the US. Journal: Forum for Social Economics Pages: 70-87 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2012.684100 File-URL: http://hdl.handle.net/10.1080/07360932.2012.684100 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:70-87 Template-Type: ReDIF-Article 1.0 Author-Name: Genna R. Miller Author-X-Name-First: Genna R. Author-X-Name-Last: Miller Title: Teaching Feminist Economics through Student-Written Diaries Abstract: Abstract As a heterodox, economics paradigm, feminist economics seeks to improve women’s economic status and reduce the androcentric bias in economics. Thus, teaching feminist economics involves teaching students different ways of analyzing social inequalities and how to access more emotionally connected aspects of human behavior. This article argues that using student-written ‘gender diaries’ serves as an important pedagogical device for teaching feminist economics, because diaries enable students to more fully consider social inequalities and critique the masculine-centered features of neoclassical economics. Furthermore, when the diary approach is used in tandem with traditional lectures, this may serve to challenge gendered pedagogical dualisms which pose lectures and diaries in gendered oppositions to one another rather than envisioning them as complementary human ways of teaching. A case-study is presented from a “Women in the Economy” course in which students kept a gender diary. An analysis of a survey of the students indicates that the majority of students found the diary to be both a pleasurable and useful pedagogical device, and recommended continued use of the diary specifically for this course. Students were less enthusiastic in recommending the diary for use in other economics courses. Journal: Forum for Social Economics Pages: 88-112 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2012.685746 File-URL: http://hdl.handle.net/10.1080/07360932.2012.685746 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:88-112 Template-Type: ReDIF-Article 1.0 Author-Name: Elizabeth Moorhouse Author-X-Name-First: Elizabeth Author-X-Name-Last: Moorhouse Title: Examining the Unique Characteristics of Economics: A Description of a Student Assignment Abstract: Abstract This article discusses a classroom activity which introduces students to the knowledge creation process in the field of economics. Although the assignment was used in an upper level history of economic thought class, it could be tailored to fit almost any broadly themed course in the field. Economics is a discipline that faithfully adheres to a particular approach—one based on self-interest and contractual exchange; ideas that deviate from this approach are often overlooked by economists or deemed outside the discipline. Likewise, arguments made without the use of core assumptions or mathematical models are screened out as not truly being economics. Due to this allegiance to a specific form of argument, economics has developed unique characteristics. The class activity asks students to think about the implications of these characteristics and identity economic models and theories that exemplify them. Journal: Forum for Social Economics Pages: 113-121 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2012.698292 File-URL: http://hdl.handle.net/10.1080/07360932.2012.698292 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:113-121 Template-Type: ReDIF-Article 1.0 Author-Name: Geoff Schneider Author-X-Name-First: Geoff Author-X-Name-Last: Schneider Title: Student Evaluations, Grade Inflation and Pluralistic Teaching: Moving from Customer Satisfaction to Student Learning and Critical Thinking Abstract: Faculty at universities that place significant weight on student evaluations often report that they give out easy grades, avoid controversial material and dumb down courses in order to get higher student evaluations. Unfortunately, research on student learning indicates that challenging courses, especially those that challenge students' existing mental models, facilitate greater learning. Meanwhile, research on student evaluations indicates that grading more easily and teaching easier courses has, at best, a small impact on student evaluations. Thus, ironically, faculty perceptions about student evaluations are more problematic than student evaluations themselves. In order to improve the quality of teaching, it is important for universities to develop a system for evaluating teaching that emphasizes (and rewards) the degree of challenge and learning that occurs in courses. This can be achieved by altering student evaluation forms to emphasize the amount students learn and the amount of work they do in a course. Additional possibilities include the development of a more robust system of peer evaluation of teaching and of teaching materials. Given that heterodox economists teaching pluralistic material tend to challenge the status quo, it is particularly important for an evaluation system to reward teaching that challenges students' perceptions of the world. Otherwise heterodox teachers will not be evaluated fairly. Journal: Forum for Social Economics Pages: 122-135 Issue: 1 Volume: 42 Year: 2013 Month: 3 X-DOI: 10.1080/07360932.2013.771128 File-URL: http://hdl.handle.net/10.1080/07360932.2013.771128 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:1:p:122-135 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: The Development, Equity, Diversity, and Justice Issue Journal: Forum for Social Economics Pages: 137-139 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2013.834636 File-URL: http://hdl.handle.net/10.1080/07360932.2013.834636 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:137-139 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Forum Best-Paper Award Journal: Forum for Social Economics Pages: 140-140 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2013.834637 File-URL: http://hdl.handle.net/10.1080/07360932.2013.834637 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:140-140 Template-Type: ReDIF-Article 1.0 Author-Name: Hengameh Hosseini Author-X-Name-First: Hengameh Author-X-Name-Last: Hosseini Author-Name: Hamid Hosseini Author-X-Name-First: Hamid Author-X-Name-Last: Hosseini Title: Ethical Principles that Make the World and its Economy More Equal Abstract: Abstract No doubt, the global economic (and political) structure is very unequal. The paper begins by demonstrating the various dimensions of this inequality as they relate to economic measures such as per capita GDP, degree of consumption and ownership, health measures, education, and power and influence in various global organizations such as the United Nations (UN), World Trade Organization (WTO), International Monetary Fund (IMF), and others. Next, the paper, supporting a more equal global economic and political structure, investigates the various instruments in welfare economies and ethics theory that can be utilized to justify a sort of distributional change that could lead to more global equality. Finding various economic and ethical instruments associated with utilitarianism, Pareto Optimality and the Hicks--Kaldor compensation test less than satisfactory in dealing with and advocating sufficient global distributional changes, we will investigate ethical principles developed by John Rawls in both his 1971 The Theory of Justice and his 1999 The Law of Peoples, Sen's capability approach, the debate between Rawls and Sen regarding their ethical principles, and whether or not those ethical principles can justify necessary global distributional changes. As we will argue, although the principles developed by Sen and Rawls can be utilized to justify global distributional changes to a degree, they cannot advocate a global difference principle that can justify sufficient global distributional changes. Attempt is made to develop a global difference principle that can justify and advocate more drastic distributional changes. Journal: Forum for Social Economics Pages: 142-166 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2012.694139 File-URL: http://hdl.handle.net/10.1080/07360932.2012.694139 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:142-166 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Sai-wing Ho Author-X-Name-First: Peter Author-X-Name-Last: Sai-wing Ho Title: Rethinking Trade and Development: A Developmentalist Perspective Abstract: Abstract In one of the longest lasting debates in economics, mainstream economists still basically rest their position regarding trade and development policies on the static principle of comparative advantage, while relying on fancier econometric techniques to find empirical support. This paper draws attention to dynamic considerations, first emphasizing Smith's observation that there was more scope for division of labor in manufactures than in primary production. Prebisch noted that primary products generally have lower income elasticity of demand than manufactures. In a global context where some countries undertook industrial development ahead of others, these would generate the trade patterns that Ricardo predicted. Investment would flow from the industrial center to the periphery to augment primary production as Mill anticipated. Through the dominance of backwash over spread effects, international inequalities would widen à la Mrydal. International dualism, especially in a technological sense, would be aggravated à la Singer. To counter such uneven development, developmentalists such as Hamilton, List, Prebisch, Myrdal, and Singer advocated technological acquisitions and industrial development on the part of the less-developed countries or regions. Contrary to mainstream portrayal they did not simply advocate protectionism. Instead, their policy suggestions were nuanced and sophisticated, and included both non-trade and trade instruments, means of building technological capabilities, and (for those writing after World War II) considerations of how to sensibly direct and regulate the activities of multinational corporations. These policy ideas appear to neatly link up with those drawn from case studies of East Asian development undertaken by some researchers that are outside of the economics mainstream. Journal: Forum for Social Economics Pages: 167-180 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2012.682316 File-URL: http://hdl.handle.net/10.1080/07360932.2012.682316 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:167-180 Template-Type: ReDIF-Article 1.0 Author-Name: Prosper F. Bangwayo-Skeete Author-X-Name-First: Prosper F. Author-X-Name-Last: Bangwayo-Skeete Author-Name: Precious Zikhali Author-X-Name-First: Precious Author-X-Name-Last: Zikhali Title: Explaining Self-Declared Social Tolerance for Human Diversity in Latin America and the Caribbean Abstract: Abstract Social tolerance enables heterogeneous persons to find harmony in their differences. This has been shown to reduce the likelihood of inter- and intra-group conflicts, thereby creating an environment conducive for economic and social development. This paper examines socio-economic factors that influence individual differences in social tolerance in Latin America and the Caribbean. Being mindful of the fact that there are socio-cultural differences between Latin America and the Caribbean, five dimensions of social tolerance are investigated: tolerance for racial and religious dissimilarity, homosexuals, AIDS victims and immigrants. Using the 2005 World Values Survey data, we simultaneously estimate tolerance towards these groups using multivariate probit models. Education is found to positively and significantly enhance all five dimensions of social tolerance, suggesting that policies meant to enhance social tolerance should be directed towards improving educational systems. Overall, the analysis underscores heterogeneity of factors affecting self-declared tolerance of the selected social groups. Thus, analyses of social tolerance and ensuing policies should be developed specific to a particular dimension of tolerance. Journal: Forum for Social Economics Pages: 181-206 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2012.714713 File-URL: http://hdl.handle.net/10.1080/07360932.2012.714713 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:181-206 Template-Type: ReDIF-Article 1.0 Author-Name: James M. Cypher Author-X-Name-First: James M. Author-X-Name-Last: Cypher Title: Constructing Projects of National Development in Latin America? Abstract: Abstract This article analyzes technology-related development in Latin America from a heterodox perspective based in Institutionalist and Structuralist Economics. Since the 1970s, the lack of systematic national projects designed to institutionalize endogenous innovation capabilities in the region has constituted a critical structural impediment to development. Eschewing the creation of public goods, most nations in Latin America abandoned important incipient efforts to develop technological autonomy as undertaken during the state-led industrialization period. This article highlights poorly understood but relatively successful aspects of the import substitution industrialization (ISI) strategy on technological advancement in the state-led era. Recently, neoliberalism's monolithic grip has been loosened. Brazil has undergone somewhat of a paradigmatic shift while advancing toward the creation of a national innovation system (NIS), thereby offering important lessons for other Latin American nations. Mexico, in contrast, shows no indication of attaining autonomous technological capabilities. The attainment of such capabilities in highly industrialized countries, and fast developing Asian nations, partially resulted from the construction of a NIS. The creation of a NIS embodies an interactive and interdependent process: it entails the joint and combined participation of scientists and others involved in research and development (R&D) activities in (1) the public and private sectors and (2) universities. These elements combine with agents of the state empowered to finance and coordinate the construction and maintenance of the NIS. The construction of a NIS has induced "increasing returns" in production processes. As Furtado emphasized, supply-enhancing technological capacity must be met by inclusive demand-enhancing policies that embed the vast underlying population in the growth process. Journal: Forum for Social Economics Pages: 207-230 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2012.682315 File-URL: http://hdl.handle.net/10.1080/07360932.2012.682315 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:207-230 Template-Type: ReDIF-Article 1.0 Author-Name: Geoffrey Schneider Author-X-Name-First: Geoffrey Author-X-Name-Last: Schneider Author-Name: Berhanu Nega Author-X-Name-First: Berhanu Author-X-Name-Last: Nega Title: Democracy, Development and Comparative Institutional Advantage in Africa Abstract: Development in Africa has been stalled for decades in a vicious cycle of poverty, underdevelopment, corruption, and conflict. In this paper, we argue that donors should focus on democracy and accountability as a first priority in development aid. We use the theory of comparative institutional advantage to identify the key institutions that are most likely to facilitate economic development in communities in the modern world. These institutions include an efficient non-corrupt government sector. Subsequently, we discuss how a lack of democracy and accountability inevitably undermines development efforts and investment, referring especially to the Ethiopian experience but also considering the experiences of other African dictatorships. Finally, we discuss how donors, by emphasizing democracy and accountability along with other policies that support democratic institutions, have a greater chance of effectively contributing to African economic development. Journal: Forum for Social Economics Pages: 231-247 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2013.782560 File-URL: http://hdl.handle.net/10.1080/07360932.2013.782560 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:231-247 Template-Type: ReDIF-Article 1.0 Author-Name: Jason Patalinghug Author-X-Name-First: Jason Author-X-Name-Last: Patalinghug Title: The Right to Organize in the Philippine Business Process Outsourcing Industry Abstract: Abstract There has been some concern over the past few years that nations with emerging economies are sacrificing human dignity over economic progress. An emerging market such as the Philippines has to deal with a host of economic, social, and political issues as its economy develops. One of the issues that concern those who are involved in human rights advocacy is labor rights. The purpose of this paper is to investigate the labor rights issues surrounding the Philippine business process outsourcing (BPO) industry, specifically the right to organize. It also aims to investigate how the changing structure of the Philippine economy has affected the labor rights of its people. This paper will use the BPO industry in the Philippines as a case study. This paper will also try to compare the Philippine experience with those of other countries in order to put its findings in context. Finally, the paper shall examine the effects of globalization on workers' ability to organize and advocate for their rights. Journal: Forum for Social Economics Pages: 248-256 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1080/07360932.2012.682317 File-URL: http://hdl.handle.net/10.1080/07360932.2012.682317 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:248-256 Template-Type: ReDIF-Article 1.0 Author-Name: Aristidis P. Bitzenis Author-X-Name-First: Aristidis P. Author-X-Name-Last: Bitzenis Author-Name: Andreas Andronikidis Author-X-Name-First: Andreas Author-X-Name-Last: Andronikidis Author-Name: Pyrros D. Papadimitriou Author-X-Name-First: Pyrros D. Author-X-Name-Last: Papadimitriou Title: Does 'New Regionalism Theory' Explain the Complementary Role of Foreign Direct Investment and Trade Activity in the Central and Eastern European Region? The Case of Bulgaria Abstract: Abstract In this paper we attempt to contribute to the ongoing debate about new and old regionalism. First, we focus on the presentation of regional initiatives in the Central & East European (CEE) region and on specific motives behind Foreign Direct Investment (FDI) and trade expansion in CEE countries. Then, through empirical research and the analysis of regional initiatives we found that FDI and trade are complementary to each other, while FDI is a characteristic of new regionalism signifying deeper integration. On the other hand, geographical proximity still plays an important role in trade and investment suggesting that elements from both old and new regionalism are apparent in the CEE region. Only a small number of advanced countries participate in a few regional initiatives. However, membership in regional initiatives - if isolated - does not directly and/or simultaneously imply deep integration (new regionalism). Journal: Forum for Social Economics Pages: 257-280 Issue: 2-3 Volume: 42 Year: 2013 Month: 8 X-DOI: 10.1007/s12143-011-9093-x File-URL: http://hdl.handle.net/10.1007/s12143-011-9093-x File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:2-3:p:257-280 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: The Methodology and Economics Reform Issue, plus a Symposium on "Smith (Vernon) on Smith (Adam)" Journal: Forum for Social Economics Pages: 281-282 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.863994 File-URL: http://hdl.handle.net/10.1080/07360932.2013.863994 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:281-282 Template-Type: ReDIF-Article 1.0 Author-Name: Vernon L. Smith Author-X-Name-First: Vernon L. Author-X-Name-Last: Smith Title: Adam Smith: From Propriety and Sentiments to Property and Wealth Abstract: "Why return to Adam Smith?" Because we learn that he had fresh-for-today insights, derived from a modeling perspective that was never part of economic analysis. Smith wrote two classics: The Theory of Moral Sentiments (1759; hereafter Sentiments); and An Inquiry into the Nature and Causes of the Wealth of Nations (1776; hereafter Wealth). In Sentiments it is argued that human sociability in close-knit groups is governed by the "propriety and fitness" of conduct based on sympathy. This non-utilitarian model provides new insights into the results of 2-person experimental "trust" and other games that defied the predictions of traditional game theory in the 1980s and 90s, and offers testable new predictions. Moreover, Smith shows how the civil order of "property" grew naturally out of the rules of propriety. Property together with what I call Smith's Discovery Axiom then enabled his break-through in Wealth that defined the liberal intellectual and practical foundation of two centuries of Western economic growth. Journal: Forum for Social Economics Pages: 283-297 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.798241 File-URL: http://hdl.handle.net/10.1080/07360932.2013.798241 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:283-297 Template-Type: ReDIF-Article 1.0 Author-Name: Jonathan B. Wight Author-X-Name-First: Jonathan B. Author-X-Name-Last: Wight Title: Sentiments and Motivations in Adam Smith and Vernon Smith Abstract: Vernon Smith (VS) discovered Adam Smith (AS) late in his professional career, and has adopted ideas from The Theory of Moral Sentiments to explain findings in experimental economics. Most important is the theorized link between moral sentiments and the evolution of property rights and law as foundations for commerce. VS's encounter with AS, while not new, provides a compelling look at the modern laboratory of social science through the lens of the Enlightenment, and cannot easily be encapsulated within a utilitarian framework. This paper provides an overview and commentary on VS's approach. Journal: Forum for Social Economics Pages: 298-301 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.841588 File-URL: http://hdl.handle.net/10.1080/07360932.2013.841588 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:298-301 Template-Type: ReDIF-Article 1.0 Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: From Propriety to Property, or is it the Other Way Round? Abstract: If we acknowledge that Adam Smith's two major works are related, we will be better equipped to appreciate the features of the economy we live in. The shift from a close-knit community to a more extensive range of economic relations, however, involves qualitative changes that question Vernon Smith's linear causation from propriety to property and human betterment. Journal: Forum for Social Economics Pages: 302-306 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.839953 File-URL: http://hdl.handle.net/10.1080/07360932.2013.839953 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:302-306 Template-Type: ReDIF-Article 1.0 Author-Name: B. Jane Clary Author-X-Name-First: B. Author-X-Name-Last: Jane Clary Title: Vernon Smith's Explanation of Moral Sentiments Abstract: This paper is a comment on Vernon Smith's paper, Adam Smith: from propriety and sentiments to property and wealth. This paper argues that while Vernon Smith is correct in his analysis that Adam Smith's theory of human nature, as expressed in The Theory of Moral Sentiments, provides a much more accurate model of behavior than does that of utility maximization, Vernon Smith's analysis can be much enriched by including a more complete explanation of Adam Smith's model of human behavior to include an analysis of prudence, justice, beneficence, and self-command. Journal: Forum for Social Economics Pages: 307-310 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.841589 File-URL: http://hdl.handle.net/10.1080/07360932.2013.841589 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:307-310 Template-Type: ReDIF-Article 1.0 Author-Name: Peter M. Spiegler Author-X-Name-First: Peter M. Author-X-Name-Last: Spiegler Author-Name: William Milberg Author-X-Name-First: William Author-X-Name-Last: Milberg Title: Methodenstreit 2013? Historical Perspective on the Contemporary Debate Over How to Reform Economics Abstract: The general failure of economists to predict the financial crash of 2008 has given rise to a wide-ranging debate over the need for methodological reform. But has this debate been adequate to the task at hand? We introduce a framework for classifying methodological debates according to their scope. The scope of debate is especially important in a time of economic crisis, when it is unclear what kind of disciplinary reforms are needed. We find that the current debate is confined largely to the methodological level, taking the incumbent ontology and epistemology as given. We contrast the current debate with two other moments of internal questioning in economics--the Methodenstreit of the 1880s and Keynes' innovations of the 1930s. These were more fundamental, ontological debates, and the contrast with the current debate indicates that reform in economics is likely to be minimal and slow in the wake of the crisis. Journal: Forum for Social Economics Pages: 311-345 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.814089 File-URL: http://hdl.handle.net/10.1080/07360932.2013.814089 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:311-345 Template-Type: ReDIF-Article 1.0 Author-Name: Ann E. Davis Author-X-Name-First: Ann E. Author-X-Name-Last: Davis Title: Panglossian Paradox: How Paradigmatic Purity Compromises Policy Effectiveness Abstract: Ethical systems are embedded in paradigms. The call for an ethical approach to economics must ultimately address the nature and critique of the existing paradigm, rather than focus simply on individual behavior or policy prescriptions. The existing paradigm has its own ethical norms and foundations, even if not widely understood or acknowledged. The norms and paradigm must shift together as part of the same process of critique. Journal: Forum for Social Economics Pages: 346-358 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2013.769893 File-URL: http://hdl.handle.net/10.1080/07360932.2013.769893 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:346-358 Template-Type: ReDIF-Article 1.0 Author-Name: Charles J. Whalen Author-X-Name-First: Charles J. Author-X-Name-Last: Whalen Title: Core Concepts of Institutionalist Public Finance: Problem Solving, Institutional Analysis, Strategic Choice, and Stakeholder Engagement Abstract: Citizens and policymakers in many nations are becoming increasingly concerned about large budget deficits and mounting long-term fiscal policy challenges. At the same time, slow economic growth in the United States and Europe is causing some people to demand more government spending (and lower taxes) and others to question the efficacy of fiscal policy. Against that backdrop, institutional economists are exhibiting renewed interest in the field of public finance. This article responds by outlining four core concepts of institutionalist public finance: problem solving, institutional analysis, strategic choice, and stakeholder engagement. What distinguishes the perspective of institutionalism from that of neoclassical economics, today's dominant economic paradigm, is described in the course of the discussion. The core concepts of institutionalist public finance offer a coherent approach to the study of fiscal policy questions. Those concepts were first fashioned decades ago, but remain relevant: institutionalism continues to provide a solid basis for constructive analyses of fiscal challenges. Journal: Forum for Social Economics Pages: 359-378 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2012.727360 File-URL: http://hdl.handle.net/10.1080/07360932.2012.727360 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:359-378 Template-Type: ReDIF-Article 1.0 Author-Name: Robert D. Auerbach Author-X-Name-First: Robert D. Author-X-Name-Last: Auerbach Title: "The Benefits of Capitalism and Freedom Will Survive the Financial Crisis and This Seminar" Abstract: My meeting and subsequent long association with my mentor and friend, Milton Friedman, some of his contributions to economics, public policy, and the Chicago School, are described. The meeting with Friedman was due to a late night passenger in my Checker cab, Abram Lincoln Harris, Jr, a prominent economist whom, I was told, was a founder of the Association of Social Economics that cosponsored the seminar where this paper was presented. I had studied under Abba Lerner at Roosevelt University. Lerner was instrumental in bringing Keynesian economics to the United States. Due to the intervention of Harris and Friedman I was able to study under outstanding economists at the University of Chicago without paying tuition. Descriptions of Friedman's views, including his negative income tax that led to the passage of the largest means-tested anti-poverty program in the United States and some of his other views on the efficient market and rational expectations theories are described. His belief in the benefits of capitalism and freedom will survive this financial crisis under conditions I describe. Journal: Forum for Social Economics Pages: 379-385 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2012.701377 File-URL: http://hdl.handle.net/10.1080/07360932.2012.701377 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:379-385 Template-Type: ReDIF-Article 1.0 Author-Name: Charles Whalen Author-X-Name-First: Charles Author-X-Name-Last: Whalen Title: Core Concepts of Institutionalist Public Finance: Problem Solving, Institutional Analysis, Strategic Choice, and Stakeholder Engagement Journal: Forum for Social Economics Pages: 386-386 Issue: 4 Volume: 42 Year: 2013 Month: 11 X-DOI: 10.1080/07360932.2012.740337 File-URL: http://hdl.handle.net/10.1080/07360932.2012.740337 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:42:y:2013:i:4:p:386-386 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Author-Name: Cecilia Winters Author-X-Name-First: Cecilia Author-X-Name-Last: Winters Author-Name: Phil O'Hara Author-X-Name-First: Phil Author-X-Name-Last: O'Hara Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: Fairness, Transparency, and Conflict-of-Interest Policies Journal: Forum for Social Economics Pages: 3-6 Issue: 1 Volume: 43 Year: 2014 Month: 4 X-DOI: 10.1080/07360932.2014.901811 File-URL: http://hdl.handle.net/10.1080/07360932.2014.901811 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:1:p:3-6 Template-Type: ReDIF-Article 1.0 Author-Name: Irene van Staveren Author-X-Name-First: Irene van Author-X-Name-Last: Staveren Author-Name: Ellen Webbink Author-X-Name-First: Ellen Author-X-Name-Last: Webbink Author-Name: Arjan de Haan Author-X-Name-First: Arjan Author-X-Name-Last: de Haan Author-Name: Roberto Foa Author-X-Name-First: Roberto Author-X-Name-Last: Foa Title: The Last Mile in Analyzing Wellbeing and Poverty: Indices of Social Development Abstract: Development practitioners worldwide increasingly recognize the importance of informal institutions-such as norms of cooperation, non-discrimination, or the role of community oversight in the management of investment activities-in affecting well-being, poverty, and even economic growth. There has been little empirical analysis that tests these relationships at the international level. This is largely due to data limitations: few reliable, globally representative data sources exist that can provide a basis for cross-country comparison of social norms and practice, social trust, and community engagement. The International Institute of Social Studies now hosts a large database of social development indicators compiled from a wide range of sources in a first attempt to overcome such data constraints, at a low cost (http://www.IndSocDev.org). The Indices of Social Development are based on over 200 measures from 25 reputable data sources for the years 1990 to 2010.These measures are aggregated into six composite indices: civic activism, interpersonal safety and trust, inter-group cohesion, clubs and associations, gender equality, and inclusion of minorities. Not all data sources provide observations for indicators in each country, but together these data sources allow for comprehensive estimates of social behavior and norms of interaction across a broad range of societies, and increasingly with possibilities to track changes over time. This paper presents the database, highlights the differences, similarities, and complementarities with other measures of well-being, including those around income poverty, multidimensional poverty, and human development. Journal: Forum for Social Economics Pages: 8-26 Issue: 1 Volume: 43 Year: 2014 Month: 4 X-DOI: 10.1080/07360932.2013.780980 File-URL: http://hdl.handle.net/10.1080/07360932.2013.780980 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:1:p:8-26 Template-Type: ReDIF-Article 1.0 Author-Name: Edsel Beja Author-X-Name-First: Edsel Author-X-Name-Last: Beja Title: Yet, Two More Revisions to the Human Development Index Abstract: The Inequality-adjusted Human Development Index (IHDI) was adopted in the 20th anniversary edition of the Human Development Reports, in 2010. In using a penalty set-up for the calculations of the IHDI, however, the results overestimated the adjustments. This article suggests a revision to the procedure in order to harmonize the calculations with the underlying attainment set-up of the Human Development Index and minimize the bias in the adjustments. This article also suggests an extension to the IHDI, specifically the inclusion of a subjective measure of inequality in the calculation of the IHDI. Journal: Forum for Social Economics Pages: 27-39 Issue: 1 Volume: 43 Year: 2014 Month: 4 X-DOI: 10.1080/07360932.2013.833129 File-URL: http://hdl.handle.net/10.1080/07360932.2013.833129 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:1:p:27-39 Template-Type: ReDIF-Article 1.0 Author-Name: Jennifer Moreale Author-X-Name-First: Jennifer Author-X-Name-Last: Moreale Author-Name: John Levendis Author-X-Name-First: John Author-X-Name-Last: Levendis Title: IQ and Economic Development: A Critique of Lynn and Vanhanen Abstract: We re-examine Lynn and Vanhanen's argument that gross domestic product (GDP) depends upon IQ. We argue that their analysis suffers from three types of biases, each of which would tend to erroneously favor their hypothesis. Despite this stacked deck, we find that their results are rather fragile. Rather, education has a stronger impact on GDP than does IQ, whose effect we find to be insignificant. In other words, it is a country's actual human capital, rather than its potential human capital, which determines its GDP. In short, we are unable to replicate their results. Journal: Forum for Social Economics Pages: 40-56 Issue: 1 Volume: 43 Year: 2014 Month: 4 X-DOI: 10.1080/07360932.2012.747977 File-URL: http://hdl.handle.net/10.1080/07360932.2012.747977 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:1:p:40-56 Template-Type: ReDIF-Article 1.0 Author-Name: W. Parker Wheatley Author-X-Name-First: W. Parker Author-X-Name-Last: Wheatley Title: Consumption, Credit, and Institutions: Using Field Research and Theory to Consider Poverty Alleviation Abstract: This paper discusses the role of social, institutional, and psychological factors in the consumption and borrowing behavior of low-income households, and makes arguments in favor of policy interventions to alleviate some of the challenges of these households. Focus group evidence and findings on the current behaviors and borrowing patterns of low-income families are provided to support and motivate this perspective on consumption and policy. While the data are drawn from a specific region, the observations and findings could be generalized to other communities after accounting for different cultural and social characteristics. This research provides an in-depth understanding of the challenges confronted by low-income individuals at achieving their economic desires for lives of basic dignity, explores both economic and non-economic motivations, and provides insights useful for policy deliberation and model development. Journal: Forum for Social Economics Pages: 57-96 Issue: 1 Volume: 43 Year: 2014 Month: 4 X-DOI: 10.1080/07360932.2012.732018 File-URL: http://hdl.handle.net/10.1080/07360932.2012.732018 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:1:p:57-96 Template-Type: ReDIF-Article 1.0 Author-Name: John Hall Author-X-Name-First: John Author-X-Name-Last: Hall Title: Thorstein Veblen and His European Contemporaries, 1880-1940: A Study of Contemporary Sociologies Journal: Forum for Social Economics Pages: 97-99 Issue: 1 Volume: 43 Year: 2014 Month: 4 X-DOI: 10.1080/07360932.2013.819267 File-URL: http://hdl.handle.net/10.1080/07360932.2013.819267 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:1:p:97-99 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Welcome to the Gender, Elderly, and Needs Issue of the Forum for Social Economics #2-2014 Journal: Forum for Social Economics Pages: 101-103 Issue: 2 Volume: 43 Year: 2014 Month: 8 X-DOI: 10.1080/07360932.2014.922734 File-URL: http://hdl.handle.net/10.1080/07360932.2014.922734 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:2:p:101-103 Template-Type: ReDIF-Article 1.0 Author-Name: Edward J. O'Boyle Author-X-Name-First: Edward J. Author-X-Name-Last: O'Boyle Title: Origins of the Association for Social Economics Journal: Forum for Social Economics Pages: 104-106 Issue: 2 Volume: 43 Year: 2014 Month: 8 X-DOI: 10.1080/07360932.2014.905106 File-URL: http://hdl.handle.net/10.1080/07360932.2014.905106 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:2:p:104-106 Template-Type: ReDIF-Article 1.0 Author-Name: Ori Zax Author-X-Name-First: Ori Author-X-Name-Last: Zax Author-Name: Mosi Rosenboim Author-X-Name-First: Mosi Author-X-Name-Last: Rosenboim Author-Name: Tal Shavit Author-X-Name-First: Tal Author-X-Name-Last: Shavit Title: Effects of Expected Effort on Females in the Labor Market Abstract: We introduce expectations regarding the amount of exerted effort by males and females into the "standard" labor market equilibrium. Using a theoretical model, we show that the gender wage gap increases when the expected effect is incorporated into the model. Based on a survey, we find that there are inaccurate expectations regarding the amount effort exerted by males and females. We argue that biased expectations lead to paying females lower wages and a higher gender wage gap than should be expected on the basis of effort exerted. We suggest marketing females' efforts as a policy tool to counteract these biased expectations. Journal: Forum for Social Economics Pages: 107-122 Issue: 2 Volume: 43 Year: 2014 Month: 8 X-DOI: 10.1080/07360932.2012.709317 File-URL: http://hdl.handle.net/10.1080/07360932.2012.709317 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:2:p:107-122 Template-Type: ReDIF-Article 1.0 Author-Name: Joshua D. Pitts Author-X-Name-First: Joshua D. Author-X-Name-Last: Pitts Author-Name: Charles Kroncke Author-X-Name-First: Charles Author-X-Name-Last: Kroncke Title: Educational Attainment and the Gender Wage Gap: A Comparison of Young Men and Women in 1984 and 2007 Abstract: This study pools data from two sources to investigate the role of educational attainment in determining the gender wage gap. The empirical analysis reveals that the returns to education remained largely unchanged for young men but declined significantly for young women over the period 1984-2007. We find significant evidence of a decline in the returns to a Bachelor's degree for young women as well as evidence of increasing wage inequality over time among young men and women with a Bachelor's degree. Also, in 2007, the gender wage gap between young men and women was largest for those with a Bachelor's degree. Further, our analysis suggests that young women with a college education may confront more discrimination in the labor market than young women without a college education. We conclude that promoting educational attainment among young women may be a necessary but not sufficient condition for addressing the gender wage gap. Journal: Forum for Social Economics Pages: 123-155 Issue: 2 Volume: 43 Year: 2014 Month: 8 X-DOI: 10.1080/07360932.2012.736077 File-URL: http://hdl.handle.net/10.1080/07360932.2012.736077 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:2:p:123-155 Template-Type: ReDIF-Article 1.0 Author-Name: Frederic L. Pryor Author-X-Name-First: Frederic L. Author-X-Name-Last: Pryor Title: What Do the Elderly Do? Abstract: The most direct way to find out what elderly Americans do is to study how they occupy their time and, if they are still in the labor force, in what occupations can they be found. This essay focuses on three key issues regarding the activities of those 65 and over: their average use of time in 41 different activities, especially how they employ the greater discretionary time available to them in comparison to younger adults; the factors underlying their rising participation in the labor in the first decade of the twenty-first century; and the occupations that elderly men and women are most likely to be found and how this has changed. Journal: Forum for Social Economics Pages: 156-180 Issue: 2 Volume: 43 Year: 2014 Month: 8 X-DOI: 10.1080/07360932.2012.747978 File-URL: http://hdl.handle.net/10.1080/07360932.2012.747978 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:2:p:156-180 Template-Type: ReDIF-Article 1.0 Author-Name: Roger A. McCain Author-X-Name-First: Roger A. Author-X-Name-Last: McCain Title: Why Need is "A Word We Cannot Do Without" in Economics Abstract: Economists in the neoclassical tradition do their best to avoid using the word "need." Social economists have traditionally been more open to discussions of need. Philosophic discussions of need are also scarce but nevertheless helpful. This essay will argue that need is "a word we cannot do without" in economics, and not only in social economics. Need is objective, satiable, and absolute, by contrast with want or preference as it is defined in neoclassical economics. With this clarification, 1) it is reasonable that public policy should consider need as well as want and aim to satisfy some needs, and 2) for some purposes, such as the economics of health care, conventional demand cannot be understood without the concept of need. Thus, even the narrower purposes of neoclassical economics cannot be achieved without clarifying and using the concept of need, in addition to the more usual motivational assumptions of neoclassical economics. Journal: Forum for Social Economics Pages: 181-196 Issue: 2 Volume: 43 Year: 2014 Month: 8 X-DOI: 10.1080/07360932.2012.709318 File-URL: http://hdl.handle.net/10.1080/07360932.2012.709318 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:2:p:181-196 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Forum for Social Economics The "Contemporary Phase of Capitalism" Issue #3-2014 Journal: Forum for Social Economics Pages: 197-198 Issue: 3 Volume: 43 Year: 2014 Month: 12 X-DOI: 10.1080/07360932.2014.957517 File-URL: http://hdl.handle.net/10.1080/07360932.2014.957517 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:3:p:197-198 Template-Type: ReDIF-Article 1.0 Author-Name: Luiz Carlos Bresser-Pereira Author-X-Name-First: Luiz Carlos Author-X-Name-Last: Bresser-Pereira Title: Inequality and the Phases of Capitalism Abstract: We live in a capitalist world characterized by economic inequality. Inequality is a real curse, but it does not have to always increase. In different phases of capitalism, it may be increasing, constant, or decreasing, depending on the dominant type of technical progress (capital-using, capital-neutral, or capital-saving), on the organizational capacity of the workers, on the competition from other countries with lower wages, and on the prevailing degree of democracy. But distribution faces an economic constraint: the expected profit rate must remain attractive to business entrepreneurs. From the mid-twentieth century, we would expect technological progress to change from neutral to capital-saving, which would allow wages to increase at a faster rate than productivity. Indeed, this happened in the Golden Years of capitalism, but such progress stalled in the succeeding neoliberal years, dominated as they were by a class coalition of rentier capitalists and financiers. Journal: Forum for Social Economics Pages: 199-222 Issue: 3 Volume: 43 Year: 2014 Month: 12 X-DOI: 10.1080/07360932.2014.887589 File-URL: http://hdl.handle.net/10.1080/07360932.2014.887589 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:3:p:199-222 Template-Type: ReDIF-Article 1.0 Author-Name: Alessandro Caiani Author-X-Name-First: Alessandro Author-X-Name-Last: Caiani Author-Name: Andrea Fumagalli Author-X-Name-First: Andrea Author-X-Name-Last: Fumagalli Author-Name: Stefano Lucarelli Author-X-Name-First: Stefano Author-X-Name-Last: Lucarelli Title: Contemporary Capitalism as a New Monetary Economy of Production: The Logic of Conventions, M&A, and LBOs Abstract: The main changes of new capitalism concern mainly two spheres: the new technological paradigm and valorization process and the importance of finance. The main feature of the prevailing finance-led growth regime during the first decade of new millennium is then presented. In this perspective, particular attention is given to the analysis of the evolution and the logic characterizing mergers and acquisitions and leverage buyouts. After describing the main features of the contemporary accumulation paradigm, we therefore proceed to the reformulation of the schemes of monetary circuit by taking into account the structural changes induced by contemporary capitalism. Journal: Forum for Social Economics Pages: 223-253 Issue: 3 Volume: 43 Year: 2014 Month: 12 X-DOI: 10.1080/07360932.2013.867891 File-URL: http://hdl.handle.net/10.1080/07360932.2013.867891 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:3:p:223-253 Template-Type: ReDIF-Article 1.0 Author-Name: John Levendis Author-X-Name-First: John Author-X-Name-Last: Levendis Title: The Macroeconomic Consequences of Mixing Sunnis and Shias: A Bayesian Errors-in-Variables Approach Abstract: How damaging is the Sunni/Shia split to the economies of Islamic countries? Is it better to be one or the other? Or is it better to have an even balance between the two? Answering these questions is complicated by the fact that the data are often missing or imprecisely measured. We employ the technique of Bayesian data augmentation to circumvent these two problems, and find that properly controlling for these features in the data leads to drastically different conclusions than what is found using ordinary least squares. We find that there is nothing in the differential nature of Sunni or Shia Islam to make one more economically prosperous than the other. Nor do we find any support for the popular hypothesis that Sunnis and Shias cannot mix. Journal: Forum for Social Economics Pages: 254-274 Issue: 3 Volume: 43 Year: 2014 Month: 12 X-DOI: 10.1080/07360932.2013.787639 File-URL: http://hdl.handle.net/10.1080/07360932.2013.787639 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:3:p:254-274 Template-Type: ReDIF-Article 1.0 Author-Name: Andrew John Brennan Author-X-Name-First: Andrew John Author-X-Name-Last: Brennan Author-Name: Phillip Anthony O'Hara Author-X-Name-First: Phillip Anthony Author-X-Name-Last: O'Hara Title: Eco-Sufficiency & Global Justice Journal: Forum for Social Economics Pages: 275-280 Issue: 3 Volume: 43 Year: 2014 Month: 12 X-DOI: 10.1080/07360932.2014.945756 File-URL: http://hdl.handle.net/10.1080/07360932.2014.945756 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:43:y:2014:i:3:p:275-280 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: The Well-being, Happiness, and Trust Issue of the Forum for Social Economics Journal: Forum for Social Economics Pages: 1-2 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2015.994315 File-URL: http://hdl.handle.net/10.1080/07360932.2015.994315 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 Author-Name: Edsel L. Beja Author-X-Name-First: Edsel L. Author-X-Name-Last: Beja Title: Empirics on the Long Run Relationship Between Economic Growth and Happiness Abstract: The paper finds a statistically significant positive but very small long-run relationship between economic growth and happiness. Reading the evidence as such can mean a rejection of the Easterlin Paradox. The trivial size of the estimated relationship nonetheless indicates little economic significance, if at all. The paper, in turn, argues that using economic significance rather than statistical significance in the evaluation of the evidence can actually lead to a confirmation of the Easterlin Paradox. Journal: Forum for Social Economics Pages: 3-17 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2014.963637 File-URL: http://hdl.handle.net/10.1080/07360932.2014.963637 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:3-17 Template-Type: ReDIF-Article 1.0 Author-Name: Chiara Piovani Author-X-Name-First: Chiara Author-X-Name-Last: Piovani Author-Name: Nursel Aydiner-Avsar Author-X-Name-First: Nursel Author-X-Name-Last: Aydiner-Avsar Title: The 2008/09 Economic Crisis: The Impact on Psychological Well-Being in the USA Abstract: The 2008/09 economic crisis has been the worst crisis of capitalism since the Great Depression. The causes and implications of the so-called "Great Recession" have been widely documented, but the effects of the crisis on psychological well-being have only received limited attention. Using state-level data, this paper aims to assess empirically the impact of the 2008/09 crisis on several indicators of mental health in the USA. The results indicate that unemployment and income levels have a significant and detrimental impact on mental health. This implies that social protection systems-and in particular labor market programs-play a paramount role in reducing the adverse impact of the crisis on mental health. Journal: Forum for Social Economics Pages: 18-45 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2014.964743 File-URL: http://hdl.handle.net/10.1080/07360932.2014.964743 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:18-45 Template-Type: ReDIF-Article 1.0 Author-Name: Alexander Lascaux Author-X-Name-First: Alexander Author-X-Name-Last: Lascaux Title: Symposium on 'Trust' Journal: Forum for Social Economics Pages: 46-47 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2015.994334 File-URL: http://hdl.handle.net/10.1080/07360932.2015.994334 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:46-47 Template-Type: ReDIF-Article 1.0 Author-Name: Sonja Grabner-Kräuter Author-X-Name-First: Sonja Author-X-Name-Last: Grabner-Kräuter Author-Name: Sofie Bitter Author-X-Name-First: Sofie Author-X-Name-Last: Bitter Title: Trust in online social networks: A multifaceted perspective Abstract: In recent years, online social networks (OSNs) have gained great popularity and are now among the most frequently visited sites on the Web. Although security standards and practices are an increasing focus of attention, participants still reveal great amounts of sensitive information in the Web 2.0 environment. Obviously, online social networking takes place in a context of trust. However, trust is a concept with many facets and dimensions. To facilitate trust research in OSNs this article aims at clarifying the role of trust and the relevance of facets of trust, social capital and embeddedness in OSNs. First, the focus is on the individual's decision to trust and on processes through which trust actually emerges. Subsequently, trust is viewed as a structurally embedded asset or a property of relationships and networks that helps to shape interaction patterns within OSNs. A conceptual framework is developed that integrates theoretical concepts from the trust literature, social network and social capital theory, and helps to map different trust-related issues in OSNs. Journal: Forum for Social Economics Pages: 48-68 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2013.781517 File-URL: http://hdl.handle.net/10.1080/07360932.2013.781517 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:48-68 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Author-Name: Henning Schwardt Author-X-Name-First: Henning Author-X-Name-Last: Schwardt Title: From Emergent Cooperation to Contextual Trust, and to General Trust: Overlapping Meso-Sized Interaction Arenas and Cooperation Platforms as a Foundation of Pro-Social Behavior Abstract: We identify and elaborate some critical factors and mechanisms that foster the emergence of cooperative behavioral patterns. Through institutionalization, which solves social dilemmas through habituation, these factors and mechanisms provide the foundation of contingent cooperation and contextual trust in specific interaction 'arenas' and 'meso'-sized 'platforms' (and related carrier groups) in these. This, then, may in turn support the emergence of general trust in the whole population, i.e., across all specific arenas and platforms. The emergence of institutions of cooperation may gain traction more easily in smaller arenas. This, and the transfer, spillover, or generalization to other arenas and platforms, is by no means determined, and the analytical foundation we offer permits to account for the different levels of cooperation, general trust, and socioeconomic performance observable in real-world economies (varieties of capitalisms). Directions of future research, as well as a policy focus, are provided as well. Journal: Forum for Social Economics Pages: 69-86 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2014.980751 File-URL: http://hdl.handle.net/10.1080/07360932.2014.980751 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:69-86 Template-Type: ReDIF-Article 1.0 Author-Name: Alexander Lascaux Author-X-Name-First: Alexander Author-X-Name-Last: Lascaux Title: Crowding Out Trust in the Informal Monetary Relationships: The Curious Case of the Hawala System Abstract: Trust, along with other influential norms of cooperation, has been traditionally viewed as an important coordination mechanism stabilizing expectations of the participants in the informal economic exchanges. Drawing on the example of the informal value transfer system called hawala, this paper, however, shows that the role of safeguard against opportunism in the informal monetary settings is much more reliably performed by the instruments of social control. Norms of control embedded in community beliefs and common social practices among the hawala members entirely replace trusting attitudes, rendering them superfluous for the purpose of protecting financial interests of clients and intermediaries in this informal system of monetary exchanges. Journal: Forum for Social Economics Pages: 87-107 Issue: 1 Volume: 44 Year: 2015 Month: 4 X-DOI: 10.1080/07360932.2014.954250 File-URL: http://hdl.handle.net/10.1080/07360932.2014.954250 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:1:p:87-107 Template-Type: ReDIF-Article 1.0 Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: Theory, Power and the Project of a Neoliberal Society: An Introduction to the Special Issue Abstract: The paper points to the key topics that emerge from the papers in the special issue. It argues that neoliberalism is not a mere ideology but a project for a market-centered society. Its neglect of the social costs arising from low growth and unequal distribution and its disregard for democracy are the outcome of such a project. Consequently, an alternative to neoliberalism requires an assessment of the overall project rather than a mere critique of its theoretical foundations. Journal: Forum for Social Economics Pages: 109-114 Issue: 2 Volume: 44 Year: 2015 Month: 8 X-DOI: 10.1080/07360932.2015.1036093 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1036093 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:109-114 Template-Type: ReDIF-Article 1.0 Author-Name: Riccardo Fiorentini Author-X-Name-First: Riccardo Author-X-Name-Last: Fiorentini Title: Neoliberal Policies, Income Distribution Inequality and the Financial Crisis Abstract: In the last 20 years, the within countries income and wealth inequality has continuously increased. This trend largely depends on the diffusion of neoliberal policies which, along with financial globalization, is among the causes of the recent international financial crisis. Neoliberal financial globalization (Washington Consensus) went along with reforms of labour and financial markets which caused income and wealth concentration to rise. All this contributed to the growth of debt bubbles in several countries and, after 1990, gave rise to a series of local financial crises that eventually ended in the global crisis of 2008. The austerity-based response of the EU governments to the crisis is another example of policies prescription based on neoliberal theories that cannot work. The example of Latin America countries, which in the 2000s abandoned the Washington Consensus view and have been able to reduce inequalities, shows us that alternatives to neoliberal policies are feasible. Journal: Forum for Social Economics Pages: 115-132 Issue: 2 Volume: 44 Year: 2015 Month: 8 X-DOI: 10.1080/07360932.2014.951376 File-URL: http://hdl.handle.net/10.1080/07360932.2014.951376 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:115-132 Template-Type: ReDIF-Article 1.0 Author-Name: Maria Lissowska Author-X-Name-First: Maria Author-X-Name-Last: Lissowska Title: Is Poverty and Inequality Actually Good for Growth? Abstract: This paper aims to provide some evidence on the not necessarily positive impact of poverty and inequality on growth. It follows the line of argument that these features of society, while actually creating pressure for efficiency and enabling more savings, may impede sustainable growth. The recent financial crisis and the following period of austerity have made these arguments highly relevant. The findings of the empirical analysis of this paper are that inequality in the context of consumerism and easy credit may lead to over-borrowing and excessive consumption, which is ultimately detrimental to its sustainability. Poverty also causes deterioration in general trust, disabling smooth cooperation with lower transaction costs. Inequality existing in a given society deepens this effect. Journal: Forum for Social Economics Pages: 133-158 Issue: 2 Volume: 44 Year: 2015 Month: 8 X-DOI: 10.1080/07360932.2014.951377 File-URL: http://hdl.handle.net/10.1080/07360932.2014.951377 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:133-158 Template-Type: ReDIF-Article 1.0 Author-Name: Alice N. Sindzingre Author-X-Name-First: Alice N. Author-X-Name-Last: Sindzingre Title: Whatever Inconsistencies and Effects? Explaining the Resilience of the Policy Reforms Applied to Developing Countries Abstract: Why is 'neoliberalism' still a predominant framework within economics and policy-making? This paper considers the mix of theoretical assumptions, causalities and policies known as the 'Washington consensus', focusing on developing countries. First, it analyses their main elements, resilience and effects (the 'lost decades in spite of policy reform'). Second, it examines the reasons of this resilience and argues that a reason is their adaptive capacity via constant exchanges between facts and conceptual assumptions, because this mix is constituted of heterogeneous elements (from neoclassical theory, ad hoc models or empirics-based policy-making): inconsistency is a core feature and as such its correction is irrelevant. These 'adaptive inconsistencies' are consolidated by the simultaneous theoretical/policy dimension of the mix. Its cognitive resilience is reinforced by the irrefutability of causations and the cause/effect time lag ('after current costs, there will be gains', e.g. growth), and is not challenged by the social costs of policies. Journal: Forum for Social Economics Pages: 159-178 Issue: 2 Volume: 44 Year: 2015 Month: 8 X-DOI: 10.1080/07360932.2014.951378 File-URL: http://hdl.handle.net/10.1080/07360932.2014.951378 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:159-178 Template-Type: ReDIF-Article 1.0 Author-Name: Claus Thomasberger Author-X-Name-First: Claus Author-X-Name-Last: Thomasberger Title: Europe at a Crossroads: Failed Ideas, Fictional Facts, and Fatal Consequences Abstract: The crisis of the European Monetary Union has revealed the weakness and the fragility of the European integration process. The paper examines the institutional changes which are at the root of the instability. What are the driving forces behind the introduction of the euro? What role do theoretical considerations play in this process? What influence on European integration has been exerted by neoliberal beliefs and convictions? Relying on an approach that combines basic insights of Gunnar Myrdal with Karl Polanyi's idea of a "double movement," it concentrates on the institutional transformation that is at the basis of the European integration process. The relationship between (misleading) ideas and facts is at the center of the study. It examines the influence of ideas and theoretical models on European integration, the Single Market Program, the Maastricht process, the increasing imbalances since the introduction of the euro, and the strategies applied during the recent crisis. Journal: Forum for Social Economics Pages: 179-200 Issue: 2 Volume: 44 Year: 2015 Month: 8 X-DOI: 10.1080/07360932.2014.951379 File-URL: http://hdl.handle.net/10.1080/07360932.2014.951379 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:179-200 Template-Type: ReDIF-Article 1.0 Author-Name: Damien Cahill Author-X-Name-First: Damien Author-X-Name-Last: Cahill Title: Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown / The New Way of the World: On Neoliberal Society / Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics/ The Great Persuasion: Reinventing Free Markets Since the Depression Journal: Forum for Social Economics Pages: 201-210 Issue: 2 Volume: 44 Year: 2015 Month: 8 X-DOI: 10.1080/07360932.2015.1027718 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1027718 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:2:p:201-210 Template-Type: ReDIF-Article 1.0 Author-Name: Frederic Beach Jennings Author-X-Name-First: Frederic Beach Author-X-Name-Last: Jennings Title: Atoms, Bits, and Wits: A New Economics for the Twenty-First Century--Part I Abstract: Part I: Three elementary components of economics are atoms, bits, and wits. The economics of atoms is familiar to economists, in the production of physical outputs treated as substitutes in consumption. The relation of value to scarcity with atoms is that abundance reduces the worth of material goods. The realm of bits is less understood; the issues appear in network effects, where abundance augments the worth of intangibles. The economics of networks is social: conflicts of interest (substitution) are balanced with concerts of value (complementarity) in combination. But in information networks--the realm of bits--substitution cedes to complementarity and competition defers to cooperation as efficient. Journal: Forum for Social Economics Pages: 213-233 Issue: 3 Volume: 44 Year: 2015 Month: 12 X-DOI: 10.1080/07360932.2014.933116 File-URL: http://hdl.handle.net/10.1080/07360932.2014.933116 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:3:p:213-233 Template-Type: ReDIF-Article 1.0 Author-Name: Franklin Obeng-Odoom Author-X-Name-First: Franklin Author-X-Name-Last: Obeng-Odoom Title: Africa: On the Rise, but to Where? Abstract: Africa's hitherto negative image is now being rapidly replaced by a new persona: 'Africa on the rise'. Developed mainly from Africa's growth experience, this re-imaging of Africa has generated considerable interest even among Africanists concerned that the continent has often been the target of crisis jokes. Even more notably, the rebranding of Africa has gained traction in corridors of power and centres of finance. For this latter group, however, the narrative signals more than a cultural repackaging. It is about confirming that Africa is ripe and ready to host investment and to open up markets in areas where they did not exist or existed but were not capitalist in form. Either way, however, the 'Africa on the rise' narrative achieves a major political and economic goal. Neglecting ethical questions about sustainable jobs, inequality and ecological crisis, while extolling the virtues of capital accumulation, it extends a particular neoliberal ideology which favours people with market power, not the majority with precarious positions or their relationship with nature. Journal: Forum for Social Economics Pages: 234-250 Issue: 3 Volume: 44 Year: 2015 Month: 12 X-DOI: 10.1080/07360932.2014.955040 File-URL: http://hdl.handle.net/10.1080/07360932.2014.955040 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:3:p:234-250 Template-Type: ReDIF-Article 1.0 Author-Name: Heba E. Helmy Author-X-Name-First: Heba E. Author-X-Name-Last: Helmy Title: Smith on Ancient Egypt and the Arab Islamic World: A Tale of Two Statist Models Abstract: This paper endeavors to portray Egypt, the Arab, and Islamic worlds in the eyes of Adam Smith as implied in his work An Inquiry into the Nature and Causes of the Wealth of Nations from the perspective of the extent and desirability of state intervention in the economy. In other words, the paper attempts to analyze why Smith's stance on ancient Egypt changed from an example of opulence to an eighteenth-century Egypt that--together with other Arab and Islamic countries--represents a model with many challengeable aspects, although the extent of the state action was remarkable in both models, the ancient and the contemporary. Our premise is that Smith did not defend or attack the models based on the extent of state intervention in the economy, but on whether its intervention was conducive to, first, raising the person's well-being and, second, promoting the morals of Smith's "commercial" society. Journal: Forum for Social Economics Pages: 251-283 Issue: 3 Volume: 44 Year: 2015 Month: 12 X-DOI: 10.1080/07360932.2014.974648 File-URL: http://hdl.handle.net/10.1080/07360932.2014.974648 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:3:p:251-283 Template-Type: ReDIF-Article 1.0 Author-Name: Brian Chi-ang Lin Author-X-Name-First: Brian Chi-ang Author-X-Name-Last: Lin Title: Institutional Fundraising: An Analysis of Taiwan's Religious Enterprises Abstract: In Taiwan, one could observe that several prominent religious groups such as Tzu Chi (founded by Master Cheng Yen in 1966), Fo Guang Shan (founded by Master Hsing Yun in 1967), and Dharma Drum Mountain (founded by the late Master Sheng Yen in 1989) have been constantly growing. These religious groups have not only attracted regular donors but also wealthy people within society and have been very successful in raising funds. Above all, they have established for themselves a worldwide reputation and become multinational religious enterprises. To analyze the fundraising performance of the aforementioned religious groups, this paper introduces some new concepts of institutions and also suggests several propositions on fundraising, entrepreneurship, and institutions. This paper points out that Taiwan's religious enterprises are an outgrowth of powerful fundraising performance. Once the religious groups enter the stage of institutional change, the amount of funds collected becomes the dominant exogenous variable and religious entrepreneurship becomes endogenous. Over time, this dynamic process has further promoted entrepreneurship. Again, entrepreneurship becomes the dominant exogenous variable and the funds accumulate at an increasing rate. Eventually, the religious enterprises emerge. Journal: Forum for Social Economics Pages: 284-296 Issue: 3 Volume: 44 Year: 2015 Month: 12 X-DOI: 10.1080/07360932.2014.996584 File-URL: http://hdl.handle.net/10.1080/07360932.2014.996584 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:44:y:2015:i:3:p:284-296 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Welcome to the History of Thought Issue of the Forum, 1-2016 Journal: Forum for Social Economics Pages: 1-2 Issue: 1 Volume: 45 Year: 2016 Month: 2 X-DOI: 10.1080/07360932.2016.1156291 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1156291 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 Author-Name: Edward J. O'Boyle Author-X-Name-First: Edward J. Author-X-Name-Last: O'Boyle Author-Name: Patrick J. Welch Author-X-Name-First: Patrick J. Author-X-Name-Last: Welch Title: Tracing the Origins of Personalist Economics to Aristotle and Aquinas Abstract: Personalist Economics has identified a central problem in Neoclassical Economics that originates in its representation of the economic agent as homo economicus and its grounding in individualism. Both flaws are directly addressed by Personalist Economics that has a different perspective on human nature as set forth in Personalism. Our remarks are presented in three sections. In the first section we address why individualism is an unsatisfactory philosophical foundation for modern economic theory. In the second section we trace the origins of Personalist Economics to Aristotle and Aquinas. While others, such as Heinrich Pesch and Joseph Schumpeter, played important roles in the evolution of Personalist Economics, here our efforts are restricted to the contributions of Aristotle and Aquinas. In the third section we explore how, in terms of 18 tenets, Personalist Economics and a Personalist economy differ from Mainstream Economics and the individualistic market economy. Journal: Forum for Social Economics Pages: 3-18 Issue: 1 Volume: 45 Year: 2016 Month: 2 X-DOI: 10.1080/07360932.2015.1016083 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1016083 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:3-18 Template-Type: ReDIF-Article 1.0 Author-Name: Motohiro Okada Author-X-Name-First: Motohiro Author-X-Name-Last: Okada Title: Vilfredo Pareto on Labor: A Critical Re-examination Abstract: This article comprehensively examines Vilfredo Pareto's thoughts on labor and highlights their significance within his body of work. Like the other pioneers in neoclassical economics, Pareto disregarded worker subjectivity toward labor performance and the resulting variability in the substance of labor. Thus emasculating the human traits of labor, in his theory of pure economics, Pareto identified the nature of labor exchange with that of the exchange of nonhuman objects, thereby subsuming the former under his general equilibrium system. This neoclassical principle of rationalizing the market determination of labor exchange on its deindividuation governed Pareto's speculations throughout his work. Even his arguments in applied economics in favor of worker solidarity and strikes were grounded on this principle. It remained the basis for Pareto's opinions on actual labor relations. Pareto's frustration here turned him into an anti-unionist, but it also helped to mold his prime ideas regarding sociology and his awareness of the limits of economics. However, Pareto's adherence to his former concept of labor exchange contradicting its nature became a chief cause of his failure to integrate his economic thinking with its sociological counterpart and occasioned his sympathy with Fascism. Thus, this article concludes that Pareto's thoughts on labor profoundly affected his entire body of thought and that their flaw is not exclusive to him but inherent in neoclassical economics. Journal: Forum for Social Economics Pages: 19-40 Issue: 1 Volume: 45 Year: 2016 Month: 2 X-DOI: 10.1080/07360932.2015.1036764 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1036764 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:19-40 Template-Type: ReDIF-Article 1.0 Author-Name: Rafi Amir-ud-Din Author-X-Name-First: Rafi Author-X-Name-Last: Amir-ud-Din Author-Name: Asad Zaman Author-X-Name-First: Asad Author-X-Name-Last: Zaman Title: Failures of the “Invisible Hand” Abstract: Despite many failures of the invisible hand both empirically and theoretically, it continues to be vigorously asserted and widely believed. We document the failures and explain why it continues to be asserted despite these failures. Journal: Forum for Social Economics Pages: 41-60 Issue: 1 Volume: 45 Year: 2016 Month: 2 X-DOI: 10.1080/07360932.2015.1019536 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1019536 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:41-60 Template-Type: ReDIF-Article 1.0 Author-Name: Anup Dash Author-X-Name-First: Anup Author-X-Name-Last: Dash Title: An Epistemological Reflection on Social and Solidarity Economy Abstract: Social and Solidarity Economy (SSE) is emerging as life affirming solutions to the global crises through the multiple ways people locally reinvent economic life on the margins of the capitalist system based on values of solidarity, reciprocity and sustainability. Although the SSE builds on a strong foundation of real practices and institutions of economic transformation as the way forward for us, this paper argues that this world of practice is in need of its theory to frame discourses and engage with the bigger picture with confidence as an alternative to the dominant economic paradigm. The author argues that the orthodox economics, with its ontological construct of the homo economicus, Cartesian dichotomy and logical positivist epistemology severely constrains our abilities to understand and appreciate economic alternatives based on ‘other’ rationalities. Hence, there is a need for an epistemological revolution to construct a coherent theoretical framework from the wreckages of the neoclassical economics for the SSE. This paper seeks to outline the basic structure and the key elements of the ontological and the epistemological framework for this ‘science-in-the-making’ as a step to stimulate further debate for a paradigm revolution. Journal: Forum for Social Economics Pages: 61-87 Issue: 1 Volume: 45 Year: 2016 Month: 2 X-DOI: 10.1080/07360932.2014.995194 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995194 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:61-87 Template-Type: ReDIF-Article 1.0 Author-Name: Frederic Beach Jennings Author-X-Name-First: Frederic Beach Author-X-Name-Last: Jennings Title: Atoms, Bits, and Wits: A New Economics for the Twenty-First Century—Part II Abstract: Learning also affects the organization of economic activity as a “force locomotif” of growth. Bounded rationality opens a theory of planning horizons as an ordinal measure of wits. The realm of wits shines a novel light on the nature of interdependence, since the balance of substitution and complementarity is horizonal: longer and broader horizons shift this balance away from substitution in favor of complementarity, augmenting concerts of interest over conflicts in social relations. Atoms, bits, and wits are modeled to show why substitution only applies to short-run atoms; a case for complementarity rises from both increasing returns and bits, where wits strengthen the case for cooperation as efficient. With complementarity, competition—not collusion—stifles output. The social and institutional implications of this are addressed theoretically in this paper. Journal: Forum for Social Economics Pages: 88-109 Issue: 1 Volume: 45 Year: 2016 Month: 2 X-DOI: 10.1080/07360932.2014.933117 File-URL: http://hdl.handle.net/10.1080/07360932.2014.933117 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:88-109 Template-Type: ReDIF-Article 1.0 Author-Name: Francesco Burchi Author-X-Name-First: Francesco Author-X-Name-Last: Burchi Author-Name: Pasquale De Muro Author-X-Name-First: Pasquale Author-X-Name-Last: De Muro Title: Special Issue “Capability Approach and Multidimensional Well-being in High-income Countries” Abstract: This article is the Introduction to the Special Issue on “Capability Approach and Multidimensional Well-being in High-income Countries”. The volume offers an in-depth investigation of the major methodological challenges faced in the attempt to measuring and analyzing well-being in high-income countries and portrays people's well-being conditions in different European countries. It contains seven papers, which are an interesting combination of theoretical, methodological, and empirical works. The common denominator is the endorsement of Amartya Sen's capability approach as conceptual framework guiding the analysis. Journal: Forum for Social Economics Pages: 111-119 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.995195 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995195 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:111-119 Template-Type: ReDIF-Article 1.0 Author-Name: Francesco Burchi Author-X-Name-First: Francesco Author-X-Name-Last: Burchi Author-Name: Pasquale De Muro Author-X-Name-First: Pasquale Author-X-Name-Last: De Muro Title: Measuring Human Development in a High-Income Country: A Conceptual Framework for Well-Being Indicators Abstract: This paper is concerned with the construction of an appropriate conceptual framework for measuring human development with a focus on high-income countries. Too often, the measurement exercise is based on a purely empirical basis where indicators simply reflect data availability and “conventional wisdom”. This is likely to misguide policy-makers. We deal with two core points for the construction of a conceptual framework: (a) specification of the theoretical approach and (b) identification of the relevant categories of indicators. The paper endorses the capability approach which is the theoretical underpinning of human development. In line with this perspective, it offers a view of the relationships between key concepts such as human development, well-being, capabilities, and functionings. Based on this framework, it then tries to identify which typology of indicators is more suitable for measuring people's functionings. Building on a multidisciplinary literature, we classify indicators as input, output, outcome, and impact indicators, and conclude that outcome indicators are the best solution for measuring functionings. Finally, the paper provides examples of theoretically robust indicators and argues for a focus on more advanced functionings in high-income countries. Journal: Forum for Social Economics Pages: 120-138 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.995196 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995196 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:120-138 Template-Type: ReDIF-Article 1.0 Author-Name: Polly Vizard Author-X-Name-First: Polly Author-X-Name-Last: Vizard Author-Name: Liz Speed Author-X-Name-First: Liz Author-X-Name-Last: Speed Title: Examining Multidimensional Inequality and Deprivation in Britain Using the Capability Approach Abstract: There is growing interest in the development and application of the capability approach as a basis for multidimensional inequality and deprivation analysis. This article contributes to the growing body of literature in this area by examining how the capability approach is being operationalised as a basis for national equality and human rights monitoring in Britain, using the Equality Measurement Framework (EMF). The EMF is a capability-based analytical tool that evaluates social inequalities across ten domains of freedom and opportunity (or capability) and three critical aspects of inequality (functionings, treatment and autonomy). The current article provides a conceptual overview of the EMF and sets out some of the latest findings against selected Framework indicators drawn from a number of different domains. The substantive findings reveal patterns of inequality and deprivation within a range of critical areas of life, including life, physical security, standard of living, participation, individual life and identity, expression and self-respect. Journal: Forum for Social Economics Pages: 139-169 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.997267 File-URL: http://hdl.handle.net/10.1080/07360932.2014.997267 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:139-169 Template-Type: ReDIF-Article 1.0 Author-Name: Francesco Burchi Author-X-Name-First: Francesco Author-X-Name-Last: Burchi Author-Name: Chiara Gnesi Author-X-Name-First: Chiara Author-X-Name-Last: Gnesi Title: A Review of the Literature on Well-Being in Italy: A Human Development Perspective Abstract: In recent years, a large literature on indicators of well-being and quality of life has emerged. While all these indicators are an important step toward the recognition of well-being as a multidimensional phenomenon, they are often rooted in very different approaches—when we can identify a relevant “theoretical” framework—such as basic needs, happiness, or capability approach, and vary significantly in terms of statistical quality. This paper has a twofold objective: (1) to analyze the state of the art of the literature on well-being in Italy; (2) to examine this literature from a human development perspective. Thus, we investigate the pros and cons of the existing approaches/indicators and assess whether they are rooted in the human development approach. This is deemed necessary for the final goal of constructing a context-based indicator of human development for Italy and its territorial units. Journal: Forum for Social Economics Pages: 170-192 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.995197 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995197 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:170-192 Template-Type: ReDIF-Article 1.0 Author-Name: Martina Lavagnini Author-X-Name-First: Martina Author-X-Name-Last: Lavagnini Author-Name: Antonella Mennella Author-X-Name-First: Antonella Author-X-Name-Last: Mennella Title: Decent Work in Italy: The Basic-Relations-Fairness Proposal Abstract: This paper is a contribution to the debate on “decent work,” developed here as an instrument for measuring human development. The concept, conceived by International Labour Organization in 1999 is interpreted here in line with Sen's capability approach. The main idea on which the proposal is based is that work “can be a liberator” [Sen, A. (1999) Development as freedom, Oxford: Oxford University Press] unless working defects prevent that. Elements identified in the basic-relations-fairness proposal are grouped into three profiles that are prioritized into two levels. Working defects are highlighted as a distance from the actual to the desired labor condition; when not possible, good qualities of labor are counted as an approach to the desired situation. The proposal is first presented theoretically, and then the case of Italy is taken as an empirical field of application, using data from different sources. The empirical evidence also portrays the conditions of macro-areas in the different dimensions of decent work. Finally, according to the Contu-De Muro 2012 methodology, a synthetic indicator of decent work dimensions is built by combining basic profile variables. Journal: Forum for Social Economics Pages: 193-212 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.995198 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995198 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:193-212 Template-Type: ReDIF-Article 1.0 Author-Name: Matteo Mazziotta Author-X-Name-First: Matteo Author-X-Name-Last: Mazziotta Author-Name: Adriano Pareto Author-X-Name-First: Adriano Author-X-Name-Last: Pareto Title: Methods for Constructing Non-Compensatory Composite Indices: A Comparative Study Abstract: Composite indices are being more and more used to measure multidimensional phenomena in social sciences. Considerable attention has been devoted in recent years to the methodological issues associated with index construction, such as non-compensability and comparability of the data over time. The aim of this paper is to compare two non-additive approaches: the Mazziotta--Pareto Index (MPI) and the Weighted Product (WP) method. The MPI is a nonlinear composite index that rewards the units with ‘balanced’ values of the individual indicators. The WP method implicitly penalizes the ‘unbalance’ and allows building, for each unit, two closely interrelated composite indices: a ‘static’ index for space comparisons and a ‘dynamic’ index for time comparisons. The MPI entails an equal weighting of the indicators, and only relative time comparisons are allowed. The indices based on the WP method give more weight to low values, and allow for both absolute and relative time comparisons. An application to indicators of well-being in the Italian regions in 2006 and 2011 is presented. Journal: Forum for Social Economics Pages: 213-229 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.996912 File-URL: http://hdl.handle.net/10.1080/07360932.2014.996912 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:213-229 Template-Type: ReDIF-Article 1.0 Author-Name: Nicole Rippin Author-X-Name-First: Nicole Author-X-Name-Last: Rippin Title: Multidimensional Poverty in Germany: A Capability Approach Abstract: The German government decided to use Amartya Sen's capability approach as the conceptual framework for the national ‘Poverty and Wealth Reports’ but concluded at the same time that the purely income-based at-risk-of-poverty rate (AROPR) is a satisfactory instrument to operationalise the capability approach. This decision made the latter the official measure to analyse poverty in Germany. This paper studies the question whether this conclusion is indeed justified by introducing two different multidimensional poverty measures to operationalise the capability approach. A thorough empirical analysis compares the poverty evaluations of the three poverty measures over time. It reveals that they differ considerably with regard to poverty trends, the identification of the most deprived and the impact of location, especially regarding West and East Germany, which may have considerable implications for targeting and demonstrates that there is indeed an urgent need for multidimensional poverty measures that complement the traditional AROPR. Journal: Forum for Social Economics Pages: 230-255 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.995199 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995199 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:230-255 Template-Type: ReDIF-Article 1.0 Author-Name: Matteo D'Emilione Author-X-Name-First: Matteo Author-X-Name-Last: D'Emilione Author-Name: Luca Fabrizi Author-X-Name-First: Luca Author-X-Name-Last: Fabrizi Author-Name: Giovanna Giuliano Author-X-Name-First: Giovanna Author-X-Name-Last: Giuliano Author-Name: Paolo Raciti Author-X-Name-First: Paolo Author-X-Name-Last: Raciti Author-Name: Simona Tenaglia Author-X-Name-First: Simona Author-X-Name-Last: Tenaglia Author-Name: Paloma Vera Vivaldi Author-X-Name-First: Paloma Author-X-Name-Last: Vera Vivaldi Title: Multidimensional Approach to an Analysis of Individual Deprivation: The MACaD Model and the Results of Empirical Investigation Abstract: The aim of this paper is to present a model of capability measurement, called MACaD (Multidimensional Analysis of Capabilities Deprivation), which is based on the observation of a list of functionings in a sample of people through an empirical analysis. Within the theoretical framework of the capability approach developed by Amartya K. Sen, we introduce an analytical definition of the concept of functioning that encompasses individual agency. Furthermore, we develop a multidimensional index based on the counting approach which allows us to represent individuals within a Cartesian space. Empirical analysis is carried out through a specific questionnaire administered to more than 500 individuals living in the Municipality of Rome 10. We have focused our attention on specific subgroups of our sample (households with children), a peculiar life dimension (expressing emotions) and capabilities transformation deficit. Journal: Forum for Social Economics Pages: 256-282 Issue: 2-3 Volume: 45 Year: 2016 Month: 8 X-DOI: 10.1080/07360932.2014.995200 File-URL: http://hdl.handle.net/10.1080/07360932.2014.995200 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:2-3:p:256-282 Template-Type: ReDIF-Article 1.0 Author-Name: Rebecca Rasch Author-X-Name-First: Rebecca Author-X-Name-Last: Rasch Title: Measuring the Middle Class in Middle-Income Countries Abstract: In the development literature, a growing middle class is often hailed as an indicator of healthy economic development and a shift away from poverty (Montgomery, M. R. 2008. The urban transformation of the developing world. Science, 319, 761–764). How safe are these middle-class citizens though from falling back into poverty? Ravallion (2010. The developing world's bulging (but vulnerable) “Middle class”. World Development, 38, 445–454. doi:10.1016/j.worlddev.2009.11.007) suggests that although the middle classes, as defined by absolute incomes, are growing in developing countries, most members are still highly vulnerable and only marginally better off than their “poor” counterparts. Is income then, the best measure of middle class, if one hopes to categorise the middle class as a group that is shielded from the harsh realities of poverty? In this predominantly descriptive analysis, I compare the size of the middle class across six countries using five distinct measures: three absolute income measures, one relative income measure and one socio-economic measure. For each measure, I calculate the percentage of the working-age population that would fall into the middle class using a per-capita income and an equivalised income measure, yielding ten distinct middle-class measures for each country. Next I test the strength of the correlations between the income and socio-economic measures, and question whether measures of the middle class based solely on per-capita income are truly capturing the desired population. Journal: Forum for Social Economics Pages: 321-336 Issue: 4 Volume: 46 Year: 2017 Month: 10 X-DOI: 10.1080/07360932.2015.1044258 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1044258 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:4:p:321-336 Template-Type: ReDIF-Article 1.0 Author-Name: Elizabeth A. Moorhouse Author-X-Name-First: Elizabeth A. Author-X-Name-Last: Moorhouse Title: The Many Dimensions of Gender Equality and Their Impact on Economic Growth Abstract: This study explores the multidimensional nature of gender equality and its influence on economic growth across 64 countries from 2000–2011 using an endogenous growth model. After controlling for standard growth correlates, the empirical results show that countries that protect the economic rights of women experience higher real GDP per capita growth rates. Furthermore, after controlling for a country’s religious affiliation, the importance of religion to the lives of people living in a country had a negative influence on economic growth. Intensely held religious beliefs are strongly correlated with gender inequitable views. These attitudes might serve as an important channel through which these gender biases are institutionalized in economic practices and act to slow economic growth. Journal: Forum for Social Economics Pages: 350-370 Issue: 4 Volume: 46 Year: 2017 Month: 10 X-DOI: 10.1080/07360932.2017.1309672 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1309672 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:4:p:350-370 Template-Type: ReDIF-Article 1.0 Author-Name: Hao Chen Author-X-Name-First: Hao Author-X-Name-Last: Chen Author-Name: Jianwei Chen Author-X-Name-First: Jianwei Author-X-Name-Last: Chen Author-Name: Wence Yu Author-X-Name-First: Wence Author-X-Name-Last: Yu Title: Influence Factors on Gender Wage Gap: Evidences from Chinese Household Income Project Survey Abstract: By constructing a gender wage gap evolution model, this paper examines the source and evolutionary process of gender wage inequality from a theoretical perspective. The purpose of this study is thoroughly investigating the factors affecting the gender wage inequality from the perspective of gender discrimination and variations in non-gender endowments. Based on the Chinese Household Income Project Survey Data, this study indicates that: (1) since companies continue to re-evaluate the gender endowment value of gender, the gender wage inequality exhibits an endogenous sustainability and self-reinforcing effect. (2) The gender wage gap of urban residents is derived mainly from the top tier of wages, while the gender wage gap of the migrant people is mainly determined from the bottom rung of wages. (3) Female age has a ‘U-curve’ impact on gender wage inequality from the standpoint of non-gender endowment differences, and the female age has an ‘inverted U-curve’ impact on gender wage inequality as a result of discrimination. (4) Female appearance and actual work hours are insufficient to affect the changing trend of gender wage inequality; however, h-register location and marital status are still considered to be very important. Journal: Forum for Social Economics Pages: 371-395 Issue: 4 Volume: 46 Year: 2017 Month: 10 X-DOI: 10.1080/07360932.2017.1356346 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1356346 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:4:p:371-395 Template-Type: ReDIF-Article 1.0 Author-Name: Kevin W. Capehart Author-X-Name-First: Kevin W. Author-X-Name-Last: Capehart Title: Toward an Improved Definition of the Wealthy Abstract: A definition of the wealthy was proposed in this journal [Eisenhauer, J. G. (2008). An economic definition of the middle class. Forum for Social Economics, 37, 103–113]. According to the definition, “the wealthy” are people who could live poorly for a year while living off the interest on their wealth. This paper suggests a more general definition of the wealthy, which encompasses that definition as well as ones based on the ability to live at higher standards of living than the poverty level over longer periods of time than one year while living off interest income alone. Previous empirical work is revisited to show new insights offered by the new definition. The evidence points to the reemergence of a rentier class. Journal: Forum for Social Economics Pages: 337-349 Issue: 4 Volume: 46 Year: 2017 Month: 10 X-DOI: 10.1080/07360932.2017.1363072 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1363072 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:4:p:337-349 Template-Type: ReDIF-Article 1.0 Author-Name: Phillip Anthony O’Hara Author-X-Name-First: Phillip Anthony Author-X-Name-Last: O’Hara Title: In Celebration of Cecilia Winters’ Scholarly Life Journal: Forum for Social Economics Pages: 319-320 Issue: 4 Volume: 46 Year: 2017 Month: 10 X-DOI: 10.1080/07360932.2017.1380057 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1380057 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:4:p:319-320 Template-Type: ReDIF-Article 1.0 Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: Managing Editor’s Editorial Journal: Forum for Social Economics Pages: 1-1 Issue: 1 Volume: 48 Year: 2019 Month: 1 X-DOI: 10.1080/07360932.2019.1578103 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1578103 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:1:p:1-1 Template-Type: ReDIF-Article 1.0 Author-Name: Milford Bateman Author-X-Name-First: Milford Author-X-Name-Last: Bateman Title: Introduction Journal: Forum for Social Economics Pages: 2-21 Issue: 1 Volume: 48 Year: 2019 Month: 1 X-DOI: 10.1080/07360932.2015.1056201 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1056201 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:1:p:2-21 Template-Type: ReDIF-Article 1.0 Author-Name: Philip Mader Author-X-Name-First: Philip Author-X-Name-Last: Mader Author-Name: Sophia Sabrow Author-X-Name-First: Sophia Author-X-Name-Last: Sabrow Title: All Myth and Ceremony? Examining the Causes and Logic of the Mission Shift in Microfinance from Microenterprise Credit to Financial Inclusion Abstract: This contribution assesses the shift in the mission of microfinance from providing small loans for entrepreneurship to the broader agenda of financial inclusion. Three leading organisations' publications inform a discourse analysis, which allows the strategic shift to be analysed using two theoretical frames from organisational sociology: instrumental rationalism and sociological institutionalism. The proclaimed shift in strategy is found to consist less of rational innovation towards the aim of poverty alleviation than of “myth and ceremony” for the sake of organisational self-preservation. Journal: Forum for Social Economics Pages: 22-48 Issue: 1 Volume: 48 Year: 2019 Month: 1 X-DOI: 10.1080/07360932.2015.1056204 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1056204 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:1:p:22-48 Template-Type: ReDIF-Article 1.0 Author-Name: Jesse Hembruff Author-X-Name-First: Jesse Author-X-Name-Last: Hembruff Author-Name: Susanne Soederberg Author-X-Name-First: Susanne Author-X-Name-Last: Soederberg Title: Debtfarism and the Violence of Financial Inclusion: The Case of the Payday Lending Industry Abstract: The official development literature is replete with studies about the alleged benefits of financial inclusion in reducing poverty in the global South. Few analyses have sought to critically explore advanced forms of financial inclusion in the global North, particularly with regard to the highly lucrative and controversial payday lending industry in the USA. This article fills this void by examining the political economic landscape of payday lending in Ohio. In contrast to the mainstream literature, our analysis suggests that the payday lending industry is not a natural feature of the market that has led to universal benefits for all. Instead, we argue that payday lending not only benefits private creditors at the expense of the working poor, but also that the latter have been made to rely on these expensive loans to meet basic subsistence needs largely through the structural violence of labor market restructuring and neoliberal forms of governance, such as workfarism and ‘debtfarism.’ Journal: Forum for Social Economics Pages: 49-68 Issue: 1 Volume: 48 Year: 2019 Month: 1 X-DOI: 10.1080/07360932.2015.1056205 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1056205 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:1:p:49-68 Template-Type: ReDIF-Article 1.0 Author-Name: Milford Bateman Author-X-Name-First: Milford Author-X-Name-Last: Bateman Title: South Africa's post-apartheid microcredit experiment: moving from state-enforced to market-enforced exploitation Abstract: The international donor community arrived in post-apartheid South Africa in the early 1990s to restructure the economy along neoliberal lines. One of the most important of the interventions it promoted was microcredit, which was widely seen as one of the principal self-help solutions to the exceptionally high levels of unemployment and poverty that prevailed in the Black South African community. In spite of an early ‘boom-to-bust’ episode in the early 2000s and worrying evidence it was actually further impoverishing far more Black South African's than it was actually helping escape from poverty and unemployment, the microcredit model did not lose its international support: if anything, this support was expanded as the international development community desperately sought to ensure the survival of the microcredit model and therefore also the centrality of self-help and individual entrepreneurship as the only way out of poverty for the poor. This article shows how and why the microcredit model was supported so strongly by the international development community and South African financial community in spite of its manifestly calamitous impact on Black South African community. Overall, I conclude, microcredit can be viewed as South Africa's own sub-prime-style disaster which, like the original US version, has mainly served to benefit a tiny financial elite working within and around the microcredit sector, whilst simultaneously destroying many of the most important pillars of the economy and society. Journal: Forum for Social Economics Pages: 69-97 Issue: 1 Volume: 48 Year: 2019 Month: 1 X-DOI: 10.1080/07360932.2015.1056202 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1056202 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:1:p:69-97 Template-Type: ReDIF-Article 1.0 Author-Name: Will Butcher Author-X-Name-First: Will Author-X-Name-Last: Butcher Author-Name: James Galbraith Author-X-Name-First: James Author-X-Name-Last: Galbraith Title: Microfinance Control Fraud in Latin America Abstract: Over the past three decades, the global microfinance industry has witnessed phenomenal growth in terms of the numbers of borrowers and the total gross loan portfolio outstanding. An application of the criminologists' perspective and Black's theory of control fraud to the global microfinance industry reveals a high degree of overlap between the common characteristics of control frauds and the characteristics of the microfinance industry and suggests that the sector provides a criminogenic environment suitable to Ponzi-type dynamics, including an imperative of growth, misrepresentation of financial and operating performance, a reputation for integrity and innovativeness, concentration in unregulated markets and areas most conducive to accounting fraud, non-transparency and secrecy, dubious accounting methods, lobbying in favor of deregulation, attempts to suborn controls such as accountants, lawyers, regulators, and rating agencies, executive use of the company for personal gain, excessive risk taking at the expense of investors' capital, warnings raised but ignored, and, finally, inevitable collapse. Regulatory interventions are needed to prevent predatory lending and over-indebtedness of poor microfinance borrowers in Latin America and elsewhere. Such regulation, while necessary to protect the poor, is not well liked by the investment community as it places microfinance institutions under local scrutiny, reduces the profitability of the sector, and limits opportunities for control fraud. Journal: Forum for Social Economics Pages: 98-120 Issue: 1 Volume: 48 Year: 2019 Month: 1 X-DOI: 10.1080/07360932.2015.1056203 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1056203 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:1:p:98-120 Template-Type: ReDIF-Article 1.0 Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: Introduction Journal: Forum for Social Economics Pages: 309-310 Issue: 4 Volume: 48 Year: 2019 Month: 10 X-DOI: 10.1080/07360932.2019.1661675 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1661675 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:4:p:309-310 Template-Type: ReDIF-Article 1.0 Author-Name: Jude E. Kyoore Author-X-Name-First: Jude E. Author-X-Name-Last: Kyoore Author-Name: Iddisah Sulemana Author-X-Name-First: Iddisah Author-X-Name-Last: Sulemana Title: Do Educational Attainments Influence Attitudes Toward Gender Equality in Sub-Saharan Africa? Abstract: Although there is a plethora of literature on gender equality and women empowerment, studies on whether (and to what extent) educational attainments affect people’s attitudes toward gender equality are lacking. This is particularly true for Africa, a mostly male-dominated continent. In this article, we use data from the Wave 6 of the World Values Survey to empirically examine the relationship between educational attainments and attitudes toward gender equality among people in 5 countries in Africa–Ghana, Nigeria, Rwanda, South Africa, and Zimbabwe. Our results, based on different measures of gender equality and econometric specifications, consistently reveal that the higher the level of education acquired, the more liberal and favorable the individual’s attitudes are toward gender equality. Journal: Forum for Social Economics Pages: 311-333 Issue: 4 Volume: 48 Year: 2019 Month: 10 X-DOI: 10.1080/07360932.2018.1509797 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1509797 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:4:p:311-333 Template-Type: ReDIF-Article 1.0 Author-Name: Bret Anderson Author-X-Name-First: Bret Author-X-Name-Last: Anderson Author-Name: Elizabeth Dore-Welch Author-X-Name-First: Elizabeth Author-X-Name-Last: Dore-Welch Author-Name: Kristin Johnson Author-X-Name-First: Kristin Author-X-Name-Last: Johnson Title: Think Globally, Teach Locally: Experiencing the Foreign Aid Debate Through Service Learning Abstract: Novel curricular strategies are required if institutions want all students to actively experience the benefits of global knowledge and civic engagement, as financial and practical commitments frequently make study abroad inaccessible to many students. In this paper, we outline an innovative service-learning course, where local action coupled with an international target, offered a parallel and novel learning strategy that capitalized on the strengths of experiential education, while providing a practical and more inclusive student engagement opportunity available to a larger subset of students. We also describe our teaching strategy, which emphasizes the social context of the classroom: discovery, self-exploration, and shared learning. Together, service learning and a critical pedagogy can better help students relate to the otherwise abstract processes of foreign aid. In 2013 and 2014, approximately 30 undergraduate students participated in a student-led outreach project soliciting bicycle donations to support human development efforts in Uganda and Ghana. In addition to making reasonable progress toward learning outcomes during the two-year pilot, we found that the everyday challenges our students encountered in their service-learning project were microcosms for some of the large-scale, global challenges that foreign aid delivery faces. Journal: Forum for Social Economics Pages: 334-353 Issue: 4 Volume: 48 Year: 2019 Month: 10 X-DOI: 10.1080/07360932.2016.1222946 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1222946 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:4:p:334-353 Template-Type: ReDIF-Article 1.0 Author-Name: Ashley J. Provencher Author-X-Name-First: Ashley J. Author-X-Name-Last: Provencher Author-Name: Smita Ramnarain Author-X-Name-First: Smita Author-X-Name-Last: Ramnarain Title: Class Debates in Intermediate Microeconomics: Social Economics and Pluralist Perspectives Abstract: This paper proposes the use of class debates in an intermediate-level microeconomics course to introduce early to mid-career undergraduate students to socially embedded and pluralist perspectives, political-economic processes, and policy analyses. Using data from three semesters of class debates in an intermediate microeconomics course, we argue that this activity is a beneficial way to stimulate student interest in social economics, especially in the ethical, political economy, and economic justice aspects of economics and policy. We carried out three allied activities: participation in the debate, a learning self-assessment survey, and a five-page memo providing a balanced analysis of the policy conundrums surrounding the issue under discussion. We discuss three aspects of these class debates relevant to social economists: student attention to processes of knowledge construction, cognizance of power in socioeconomic life, and engagement with economic justice and ethics. Journal: Forum for Social Economics Pages: 354-372 Issue: 4 Volume: 48 Year: 2019 Month: 10 X-DOI: 10.1080/07360932.2018.1447494 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1447494 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:4:p:354-372 Template-Type: ReDIF-Article 1.0 Author-Name: Riccardo Evangelista Author-X-Name-First: Riccardo Author-X-Name-Last: Evangelista Title: Calls for change. The scientific status of economic theory and the future of democracy: A review of three recent contributions Abstract: After the last financial crisis, economic theory and economists have largely lost their credibility. Not having been able to foresee and explain the recession, they have clearly shown that a deep methodological reform of the discipline is necessary. With its restrictive assumptions and the self-referentiality of formal models, mainstream economics has indeed become highly unrealistic and therefore unable to face the deep and evident problems of capitalistic society. The books reviewed in this paper try to criticize economic theory from three closely related points of view: the technical drift that has endangered democracy and annulled the role of citizens in public choices, the sometimes obscure role of economists and the way through which articles of low scientific relevance are published, and finally the decisive role of the Nobel Prize in economics to legitimize the market turn begun in the 1970s. Considering such a discouraging picture, it is necessary to ask whether there is still hope for reforming economics and if, possibly returning to the classics of economic thought, it is still possible to carry out a struggle based on ideas and not on dogmatic prejudices. Journal: Forum for Social Economics Pages: 373-382 Issue: 4 Volume: 48 Year: 2019 Month: 10 X-DOI: 10.1080/07360932.2018.1492430 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1492430 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:4:p:373-382 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Kesting Author-X-Name-First: Stefan Author-X-Name-Last: Kesting Title: Rigor in Economics means Pluralism Abstract: The two books under review could not be more different in terms of their main subject matter and writing style, but their central message is exactly the same: only a pluralist economics is scientifically rigorous and explanatorily honest and fruitful. Both books underpin this important point in their own ways. While Fullbrook draws on a wide range of history of thought in economics, philosophy and the sciences, his epistemological argument is relatively easy to grasp and full of catch phrases. Marchionatti and Cedrini on the other hand review the century long methodological dispute between economists and economic anthropologists. Their treatment of these debates is very detailed. So, it can be a bit of a struggle at times to follow the intricacies of the defensive arguments used by anthropologists in their battles against imperial attacks by economists. However, by providing an outline of the basic arguments at the start and a concluding summary at the end of most of their chapters the authors make these debates very comprehensive while offering a very thorough historical comparative overview of economic imperialism and the defences of its anthropological opponents. In critiquing its philosophical foundation, Fullbrook argues convincingly that the mainstream narrative in economics is ideologically biased and conceptually too narrow to investigate economic behaviour based on social bonds, inter-subjectivity and real freedom. To allow for such analysis, he concludes, we will need to move towards true pluralism of methods in economics. Journal: Forum for Social Economics Pages: 383-393 Issue: 4 Volume: 48 Year: 2019 Month: 10 X-DOI: 10.1080/07360932.2018.1432496 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1432496 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:4:p:383-393 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Mann Author-X-Name-First: Stefan Author-X-Name-Last: Mann Title: Introduction Journal: Forum for Social Economics Pages: 217-218 Issue: 3 Volume: 48 Year: 2019 Month: 7 X-DOI: 10.1080/07360932.2016.1197843 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1197843 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:3:p:217-218 Template-Type: ReDIF-Article 1.0 Author-Name: Maxime Desmarais-Tremblay Author-X-Name-First: Maxime Author-X-Name-Last: Desmarais-Tremblay Title: The Normative Problem of Merit Goods in Perspective Abstract: In his Theory of Public Finance (1959), Musgrave invented the concept of merit wants to describe public wants that are satisfied by goods provided by the government in violation of the principle of consumer sovereignty. Starting from Musgrave’s mature discussion (1987), I construct two categories to classify the explanations of merit goods. The first strand of thought attempts to justify merit goods within the New welfare economics, by modifying its assumptions to accommodate irrationality, uncertainty, lack of information, and psychic externalities. The second category encompasses more radical departures from consumer sovereignty, drawn from philosophical critiques of economics. In the third part of the paper, I argue that the two strands might be represented by a non-individualistic social welfare function. I also show how this solution echoes Musgrave’s early views on public expenditures before he coined the concept of merit wants. From an historical perspective, the survival of the concept highlights the persistence of a social point of view in welfare economics. Journal: Forum for Social Economics Pages: 219-247 Issue: 3 Volume: 48 Year: 2019 Month: 7 X-DOI: 10.1080/07360932.2016.1196593 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1196593 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:3:p:219-247 Template-Type: ReDIF-Article 1.0 Author-Name: Mark D. White Author-X-Name-First: Mark D. Author-X-Name-Last: White Title: Nudging Merit Goods: Conceptual, Normative, and Practical Connections Abstract: Mainstream economics has traditionally maintained a respect for preferences and the choices that individuals make based on them. But recent advances in psychology and behavioral economics have led scholars and policy-maker to doubt if people make wise choices in their own interests. Based on this, libertarian paternalists endorse choice interventions—nudges—designed to steer people to decisions that will better promote their interests. However, the complex, multifaceted, and subjective nature of interests implies that policy-makers are imposing externally chosen interests for people’s own when designing nudges. In this sense, policy-makers are treating the interests they choose to advance like merit goods as described by Richard Musgrave, goals or ends that are explicitly judged by policy-makers to be worth advancing even if they are not ranked highly or chosen consistently by individuals themselves. This paper will make explicit the conceptual and normative connections between nudges and merit goods, arguing that nudges can be considered delivery mechanisms for merit goods, and recommending that libertarian paternalists abandon their claim to be advancing people’s true interests and instead adopt the objective theories of good used to justify merit goods. Journal: Forum for Social Economics Pages: 248-263 Issue: 3 Volume: 48 Year: 2019 Month: 7 X-DOI: 10.1080/07360932.2016.1196594 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1196594 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:3:p:248-263 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Mann Author-X-Name-First: Stefan Author-X-Name-Last: Mann Author-Name: Maurício Reinert Author-X-Name-First: Maurício Author-X-Name-Last: Reinert Author-Name: Grace Botelho Pain Author-X-Name-First: Grace Author-X-Name-Last: Botelho Pain Author-Name: Marcio Noveli Author-X-Name-First: Marcio Author-X-Name-Last: Noveli Title: Children’s Snacks, their Ads and Consumer Sovereignty Abstract: The concept of sovereign consumer preferences is challenged from three sides: child consumers, unhealthy food and advertising. The two theoretical concepts of merit goods and libertarian paternalism are implemented in order to classify situations in which full consumer sovereignty does not apply. An empirical analysis of ads for children’s snacks reveals the libertarian paternalist perspective as helpful for understanding the demand for and justification of ‘soft’ governmental intervention in the case of the advertised snacks, whilst the ads for these snacks may well be demerit goods. The banning or heavy taxation of these ads is therefore advocated. Journal: Forum for Social Economics Pages: 264-280 Issue: 3 Volume: 48 Year: 2019 Month: 7 X-DOI: 10.1080/07360932.2016.1196595 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1196595 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:3:p:264-280 Template-Type: ReDIF-Article 1.0 Author-Name: Franklin Obeng-Odoom Author-X-Name-First: Franklin Author-X-Name-Last: Obeng-Odoom Title: Oil, Local Content Laws and Paternalism: Is Economic Paternalism Better Old, New or Democratic? Abstract: Although paternalism has long been studied, the ‘new paternalism’ has received relatively little attention, and much less attention in the oil and gas industry where interferences into preferences centre more strongly on the supply, rather than on the demand, side. The ‘choice architects’ in Ghana have succeeded in nudging local businesses to go into the provision of services for the oil industry and the supply of goods and services needed in the petroleum sector. Yet, the new paternalism in the petroleum industry has had major limitations too, including re-enforcing systemic inequality and labour exploitation, while paying scant attention to the destruction of local content. These problems can only be addressed through systemic redistribution, structural transformation of the economy, comprehensive social protection and deliberate interventions for ecological sustainability. In this process of social change, an embrace of old paternalism will not do neither will asserting a new paternalism as the philosophy behind local content laws and policies. A philosophy and praxis of democratic paternalism provide a surer path for more effective transformation. Journal: Forum for Social Economics Pages: 281-306 Issue: 3 Volume: 48 Year: 2019 Month: 7 X-DOI: 10.1080/07360932.2016.1197844 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1197844 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:3:p:281-306 Template-Type: ReDIF-Article 1.0 Author-Name: Kaushik Basu Author-X-Name-First: Kaushik Author-X-Name-Last: Basu Title: Discrimination as Focal Point: Markets and Group Identity Abstract: This paper presents a theory of discrimination for markets in which there are complementarities between different tasks. It is shown that, in such a setting, even when groups are a priori identical, employers will end up discriminating against certain groups. Group discrimination serves the purpose of creating a focal point in a market game. In this model, the free market, far from curbing discrimination, nurtures it, and thereby creates the need for purposive policy intervention. It is argued that with the rise of technology the problem of discrimination as focal point will get more acute and we will have to think in terms of affirmative action or a system of taxation and subsidy to support groups that get excluded. Journal: Forum for Social Economics Pages: 128-138 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1307132 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1307132 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:128-138 Template-Type: ReDIF-Article 1.0 Author-Name: Sandy Baum Author-X-Name-First: Sandy Author-X-Name-Last: Baum Title: Student Debt: Rhetoric and Reality Abstract: The general perception of a student debt “crisis” misses the reality that most education borrowing improves people’s lives by increasing educational opportunities. Higher income people carry more student debt than lower income people. However, specific groups of people and specific types of debt cause serious difficulties. Default rates are disturbingly high, but the biggest problems are among students who do not complete their programs and among those who attended for-profit institutions. Finding solutions to the very real problems requires pinpointing the problems, targeting the solutions, and recognizing the responsibilities of both borrowers and taxpayers. The most important strategy for ameliorating student debt problems is preventing people from borrowing for programs they are unlikely to complete and institutions that won’t serve them well. Major steps for dealing with existing debt include an improved income-driven payment system that appropriately supports borrowers while expecting most to repay their debts in full and improving the structures surrounding the repayment and collection processes. Other potential policy modifications could ameliorate the difficulties facing borrowers even without total overhaul of the system. Journal: Forum for Social Economics Pages: 206-220 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1307133 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1307133 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:206-220 Template-Type: ReDIF-Article 1.0 Author-Name: David Colander Author-X-Name-First: David Author-X-Name-Last: Colander Title: Ignorance and Economics Abstract: Ignorance—or the limits in our knowledge, is a major issue in economics. This paper argues that economic policy should be treated as an art and craft, much as engineers do in their own field, and not as a science. This in turn leads to a number of simple rules that could guide methodology in our field, such as understanding our work as that of problem solvers, not truth seekers, and recognizing the ad hoc nature of our models and other heuristics. We would also be well advised to add a fudge factor to our policy recommendations and be more creative in thinking about policy. Journal: Forum for Social Economics Pages: 139-144 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1307134 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1307134 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:139-144 Template-Type: ReDIF-Article 1.0 Author-Name: Kassia Antoine Author-X-Name-First: Kassia Author-X-Name-Last: Antoine Author-Name: Raju Jan Singh Author-X-Name-First: Raju Jan Author-X-Name-Last: Singh Author-Name: Konstantin M. Wacker Author-X-Name-First: Konstantin M. Author-X-Name-Last: Wacker Title: Poverty and Shared Prosperity: Let’s Move the Discussion Beyond Growth Abstract: Some authors argue that it is enough to focus on growth to achieve lower poverty and greater shared prosperity. Policy-makers are warned that any effort to make growth more equal would be a distraction at best and could even be detrimental. Achieving the World Bank target of a 3% poverty rate by 2030 will require, however, more targeted policies favoring the poorest segments of the population. But what would be these policies? While studies investigating determinants of GDP growth have been numerous, less is known about factors influencing household incomes at the lowest segments of the income distribution. This paper estimates income drivers for the poorest two income quintiles drawing on a panel of 117 countries over the period 1967–2011. Its results suggest that maintaining macroeconomic stability as well as investing in human and physical capital would not only be associated with faster overall economic growth, but also with even faster income growth for the poorest segments of the population. This paper confirms the central role overall economic growth should play in any strategy to reduce poverty. Its results suggest, however, that in addition policy-makers may have instruments to tweak the distribution of the benefits of faster economic growth in favor of the households at the bottom of the income distribution. There thus need not be a trade-off between inequality and growth. Journal: Forum for Social Economics Pages: 192-205 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1307135 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1307135 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:192-205 Template-Type: ReDIF-Article 1.0 Author-Name: Christian E. Weller Author-X-Name-First: Christian E. Author-X-Name-Last: Weller Author-Name: Jeffrey B. Wenger Author-X-Name-First: Jeffrey B. Author-X-Name-Last: Wenger Title: Can Income Diversification Explain the Growing Entrepreneurship Gap by Age? Abstract: Entrepreneurship has declined among households younger than 50 years, while it has grown among older households over the past few decades. We hypothesize that this divergence results from younger households having less diversified income from sources unrelated to business income such as capital income and annuity income than is the case for older households. Using data from the Federal Reserve’s Survey of Consumer Finance, we calculate descriptive and multivariate statistics. We find that income diversification from capital income has declined for both younger and older households, while the role of income diversification in people working as entrepreneurs has fallen among younger households and stayed constant among older ones. We also find some tentative evidence that income diversification from Social Security and annuity income plays a role in determining entrepreneurship for older households, but has no effect among younger households. Our results suggest that cash income, unrelated to risky business income, plays a crucial role in determining entrepreneurship and could explain the divergent entrepreneurship experience between younger and older households. Journal: Forum for Social Economics Pages: 145-159 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1307136 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1307136 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:145-159 Template-Type: ReDIF-Article 1.0 Author-Name: Mark A. Dutz Author-X-Name-First: Mark A. Author-X-Name-Last: Dutz Author-Name: Lucas Ferreira Mation Author-X-Name-First: Lucas Ferreira Author-X-Name-Last: Mation Author-Name: Stephen D. O’Connell Author-X-Name-First: Stephen D. Author-X-Name-Last: O’Connell Author-Name: Robert D. Willig Author-X-Name-First: Robert D. Author-X-Name-Last: Willig Title: Economy-wide and Sectoral Impacts on Workers of Brazil’s Internet Rollout Abstract: We study the effect of Brazil’s staggered Internet rollout between 2000 and 2014 on municipality employment and wages. We use a new annual data-set on Internet availability from the Brazil school census, with the assumption that the share of schools that have Internet access in each municipality reflects general accessibility of Internet connections. We combine these data with Brazil’s rich matched employer–employee survey (RAIS), which contains annual occupation and wage earnings information for all formally employed workers in Brazil across all sectors, including primary, secondary, and tertiary industry groups. We consider both contemporaneous and lagged effects. We find that increased Internet access has no statistically significant net effect on aggregate employment and has a negative effect on average wages, with a reduction in measures of wage dispersion. Brazil’s Internet rollout results in employment shifts from sectors with more limited expansion opportunities (wholesale and retail trade, public administration and largely publicly owned utilities, that jointly comprise almost half of the formal workforce in 2010) to sectors with more output expansion opportunities. Employment effects are positive and most pronounced in manufacturing, transport and storage, finance and insurance, and hospitality industry groups. In the manufacturing sector, Internet access induces positive employment and wage effects in both medium- and high-skill occupations. Journal: Forum for Social Economics Pages: 160-177 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1307137 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1307137 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:160-177 Template-Type: ReDIF-Article 1.0 Author-Name: Sabina Alkire Author-X-Name-First: Sabina Author-X-Name-Last: Alkire Author-Name: Christoph Jindra Author-X-Name-First: Christoph Author-X-Name-Last: Jindra Author-Name: Gisela Robles Aguilar Author-X-Name-First: Gisela Author-X-Name-Last: Robles Aguilar Author-Name: Ana Vaz Author-X-Name-First: Ana Author-X-Name-Last: Vaz Title: Multidimensional Poverty Reduction Among Countries in Sub-Saharan Africa Abstract: This paper focuses on changes in multidimensional poverty, as measured by the Global Multidimensional Poverty Index (Global MPI) in Sub-Saharan Africa. Using data for 35 countries, we describe the changes in the level, intensity and composition of multidimensional poverty at the national level. For a subset of countries we discuss results at the sub-national level and provide a brief comparison to changes in income poverty. Our findings suggest that 30 countries, home to 92% of the population in our sample, significantly reduced multidimensional poverty as measured by the Global MPI for at least one comparison and significantly reduced the share of poor people. Looking within countries, we find different patterns of poverty reductions, with some countries reducing poverty for the poorest regions, while poorer regions in other countries do not seem to benefit from the general reduction in poverty to the same extent. When comparing trends in income and multidimensional poverty reduction we find significant differences, indicating that a holistic approach to poverty reduction should look at both, multidimensional and income poverty. Journal: Forum for Social Economics Pages: 178-191 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1310123 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1310123 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:178-191 Template-Type: ReDIF-Article 1.0 Author-Name: Quentin Wodon Author-X-Name-First: Quentin Author-X-Name-Last: Wodon Title: Social Economics, Poverty, and Human Development: Conceptual Approaches, Empirical Analysis, and Policy Abstract: How vulnerable groups fare in society and how they are affected by public policy have long been topics of high interest among social economics researchers. This is why poverty and human development were chosen as the themes for the program of sessions organized by the Association for Social Economics at the 2017 annual meetings of the Allied Social Sciences Associations in Chicago. Among three dozen papers presented at those sessions, seven were selected for inclusion in this proceedings issue. While two of the papers are theoretical or conceptual, respectively on discrimination in markets and ignorance in economics, most of the papers are empirical. They cover issues related among others to entrepreneurship, employment, the measurement of poverty, growth and shared prosperity, and finally student debt. Together the papers provide valuable contributions to the field of social economics and the topics that many researchers in the field as well as readers of this journal care about. Journal: Forum for Social Economics Pages: 121-127 Issue: 2 Volume: 46 Year: 2017 Month: 4 X-DOI: 10.1080/07360932.2017.1311800 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1311800 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:2:p:121-127 Template-Type: ReDIF-Article 1.0 Author-Name: F. Gregory Hayden Author-X-Name-First: F. Author-X-Name-Last: Gregory Hayden Title: Using the Social Fabric Matrix to Establish Corporate Accounting Consistent with Normative Criteria Regarding Climate Change Abstract: During the past 30 years, an elaborate literature has developed to integrate the concepts about social norms with the concepts of law. During that same period, climate change impacts became more pronounced and citizens became aware of and concerned about those impacts. This paper explains how the rules governing corporate accounting need to be revised in order to change the accounting systems of production corporations, so those systems reflect social norms and climate change impacts. The paper uses the social fabric approach to explain why the accounting change is needed and how it should be organized in order to allow public agencies to effectively carry out environmental rules and regulations. The double-entry accounting system currently used by production corporations is not structured to record the contribution of their investment and production activities to climate change. The Federal Reserve and US Treasury, as the world's most powerful monetary authorities, need to be involved in bringing about climate change remediation, but that is not possible without an accounting system that provides relevant indicators. Today regulators and corporations are impeded by an accounting system that does not take into consideration the ecological impacts. This paper explains how new accounts that record ecological impacts can be designed and integrated into traditional accounts (without converting to single-entry accounting) in order to demonstrate the environmental impact of particular corporate activities and to provide monetary authorities with the socio-ecological indicators for effective climate change remediation. Journal: Forum for Social Economics Pages: 64-86 Issue: 1 Volume: 47 Year: 2018 Month: 1 X-DOI: 10.1080/07360932.2014.1002517 File-URL: http://hdl.handle.net/10.1080/07360932.2014.1002517 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:1:p:64-86 Template-Type: ReDIF-Article 1.0 Author-Name: Hendrik Van den Berg Author-X-Name-First: Hendrik Author-X-Name-Last: Van den Berg Title: Mainstream Economics' Flight from Complexity Abstract: By the late 1800s, Walras' mathematical model of a market system and Marshall's detailed description of individual markets captured the thought processes of most economists, and since then the quest for mathematical precision and the emphasis on mechanics over realism have further narrowed the scope of economic analysis. This paper examines several specific cases where overly simplistic and unrealistic models dominate despite evidence that the real world is more complex and fundamentally different from what the models suggest. For example, macroeconomists simplify their analysis by requiring mathematically tractable microfoundations of macroeconomic outcomes. Econometric practice has shifted toward single equation estimation models and away from systems of equations, often arbitrarily using instrumental variables to isolate simple relationships from systemic influences. Even economic growth theory uses static aggregate equilibrium models to explain inherently complex dynamic relationships. Among the probable causes of mainstream economics' retreat from real world complexity is the power of culture, which pushes economists to close ranks around unrealistic paradigms. These tendencies are reinforced by the active urging of wealthy interests who protect their privilege in the status quo of monopoly capitalism. The paper concludes with a call for heterodox economists to actively push our field out of its unrealistic and unproductive methodological box by undertaking all economic analysis from a holistic perspective and clearly positioning economic discussions and issues in the interconnected economic/social/natural spheres of human existence. In short, heterodox economists must undertake the difficult task of pushing our profession to respect and appreciate complexity. Journal: Forum for Social Economics Pages: 8-31 Issue: 1 Volume: 47 Year: 2018 Month: 1 X-DOI: 10.1080/07360932.2015.1028085 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1028085 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:1:p:8-31 Template-Type: ReDIF-Article 1.0 Author-Name: Claudius Gräbner Author-X-Name-First: Claudius Author-X-Name-Last: Gräbner Title: Formal Approaches to Socio-economic Analysis—Past and Perspectives Abstract: This paper is motivated by the observation that (1) socio-economic analysis uses significantly less formalisms than mainstream economics and (2) that there exist numerous situations in which socio-economics could benefit from a more formal analysis. This is particularly the case when institutions play an important role in the system to be investigated. Starting with a broad conception of formalism, this paper introduces and discusses five different formal approaches regarding their adequateness for socio-economic analysis: The Social Fabric Matrix Approach, the Institutional Analysis and Development Framework, System Dynamics, (Evolutionary) Game Theory and Agent Based Computational Modelling. Every formalism entails implicit ontological and epistemological tendencies that have to be reflected on if the formalism should contribute to a better understanding of the system under investigation. The above-mentioned formalisms are no exception. Therefore, this paper pays particular attention to these tendencies. In the end, antagonisms and possible convergences among the formalisms are discussed. Journal: Forum for Social Economics Pages: 32-63 Issue: 1 Volume: 47 Year: 2018 Month: 1 X-DOI: 10.1080/07360932.2015.1042491 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1042491 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:1:p:32-63 Template-Type: ReDIF-Article 1.0 Author-Name: Saeed P. Langarudi Author-X-Name-First: Saeed P. Author-X-Name-Last: Langarudi Author-Name: Michael J. Radzicki Author-X-Name-First: Michael J. Author-X-Name-Last: Radzicki Title: A Simulation Model of Katouzian's Theory of Arbitrary State and Society Abstract: This paper represents an initial effort to model the volatile behavior of Iran's socio-political-economic system. More specifically, Homa Katouzian's theory of Iranian political economy—a well-established descriptive theory of Iran's unstable economic development—is translated into a system dynamics model, tested for internal consistency, and used for policy analysis. Simulation results confirm Katouzian's claim that periodic episodes of significant arbitrary power are key to understanding the historically less-than-optimal behavior of the Iranian socioeconomic system. They also confirm the significance of oil revenue, economic sanctions, and civil resistance on Iranian economic development. Of note is that experimentation with the model reveals that educational policies that generate increased respect for the law by Iranian citizens can significantly improve the behavior of the Iranian socioeconomic system. The paper concludes with suggestions for future research. Journal: Forum for Social Economics Pages: 115-152 Issue: 1 Volume: 47 Year: 2018 Month: 1 X-DOI: 10.1080/07360932.2015.1051076 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1051076 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:1:p:115-152 Template-Type: ReDIF-Article 1.0 Author-Name: Tara Natarajan Author-X-Name-First: Tara Author-X-Name-Last: Natarajan Title: Formal Methods for Integrated Socioeconomic Analysis: An Introduction to the Special Issue Abstract: I am pleased to bring you this special issue of the Forum for Social Economics devoted to exploring formal methods that can be used to delineate and analyze socioeconomic complexity using holistic and integrated frameworks. Examples of such frameworks are: The social fabric matrix approach (SFM-A), originally social fabric matrix (Hayden, 1982, 2006), institutional analysis and development (IAD) framework (Ostrom, 2005), systems dynamics (SD) (Forrester, 1968, 1985), and more recently, agent-based computational modeling (ABM) (Chen, 2012; Elsner et al., 2014 Chapter 9). I will briefly discuss the SFM-A and IAD frameworks, first, in order to provide the context for a synopsis of the articles in this special issue. Journal: Forum for Social Economics Pages: 1-7 Issue: 1 Volume: 47 Year: 2018 Month: 1 X-DOI: 10.1080/07360932.2015.1073606 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1073606 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:1:p:1-7 Template-Type: ReDIF-Article 1.0 Author-Name: Panayotis Giannakouros Author-X-Name-First: Panayotis Author-X-Name-Last: Giannakouros Author-Name: Lihua Chen Author-X-Name-First: Lihua Author-X-Name-Last: Chen Title: A problem-solving approach to data analysis for economics Abstract: Data analysis for formal methods is constrained due to the lengthy dominance of the econometric view within economics. Best practice in statistics suggests a shift in emphasis from making statements about the sampling distribution of numerical data summaries to seeking data summaries that communicate well. The process philosophy perspective informing the original institutionalists and also evident in the tradition of Keynes is amenable to drawing from current developments in the field of statistics toward this goal. Compared to the econometric approach, it emphasizes data analysis over statistical inference, problem- solving over theory testing, and algorithmic over analytic mathematics. In the choice of tools made possible by current technology, it favors general purpose tools that are adaptable. It favors the instrumental efficacy of computational thinking, visualization, exploration, and discovery over the ceremonial aspects of the mathematical rhetoric of economics. It also encourages the attention to ethics and assumptions stressed by statisticians. Our aim is to provide an overview of the philosophical foundation and intellectual history of an alternative to the econometric view and to give some examples of how it might be applied to the data needs of formal methods for social economics. Journal: Forum for Social Economics Pages: 87-114 Issue: 1 Volume: 47 Year: 2018 Month: 1 X-DOI: 10.1080/07360932.2015.1078737 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1078737 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:1:p:87-114 Template-Type: ReDIF-Article 1.0 Author-Name: Roger Lee Mendoza Author-X-Name-First: Roger Lee Author-X-Name-Last: Mendoza Title: Why Any Seatbelt Mandate is an Infinitely Iterated Prisoner’s Dilemma: A Health Economics Perspective Abstract: Among the most controversial of public health measures are those that restrict people’s freedom of choice presumably for the purpose of protecting their own health and safety. Mandatory use of automobile seatbelts can inspire allusions to the “tyranny of health” and the ‘health police.” This study revisits state seatbelt legislation, which is in force in all but one state of the USA. In modeling seatbelt mandates as indefinitely repeated Prisoner’s Dilemma (PD) games, the study qualifies and overcomes the limitations of conventional interest group and expressive voting theories. It indicates why and how utility-maximizing players, particularly carmakers, insurance companies, consumer advocates and regulators, may choose to cooperate, even in instances where mutual defection would bring each of them higher payoffs. The study suggests why state seatbelt mandates endure, despite ongoing concerns that they undermine individual autonomy or that their social costs outweigh the benefits of law-enforcement. The evolution and mediating effects of reputation and reciprocity in otherwise highly contestable healthcare decisions are consequently explored. Finally, the study identifies the implications of indefinitely repeated games on the continuing nature of strategic relationships and for mitigating conflict over traffic safety regulation, regardless of time and place. Journal: Forum for Social Economics Pages: 194-215 Issue: 2 Volume: 48 Year: 2019 Month: 4 X-DOI: 10.1080/07360932.2016.1160254 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1160254 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:2:p:194-215 Template-Type: ReDIF-Article 1.0 Author-Name: Abdulla Galadari Author-X-Name-First: Abdulla Author-X-Name-Last: Galadari Title: Sustainable Economics: Understanding Market and Government Roles Abstract: There has always been a debate on the roles of government and market for economic growth and development. Economic development encompasses more than just growth; it seeks the betterment of the standard of living and higher Human Development Index. There is no single strategy that would be considered the best solution for economic development. Market role and government intervention are both necessary for economic development. Since the economy is dynamic, then the policies adopted need to change according to the circumstances. It is argued that government intervention is sometimes necessary to ensure basic economic development, even if it essentially fails in economic growth in the short-term. Nonetheless, a good solution between the roles of market and government is through finding a dynamic equilibrium point between them. Therefore, the best policy is a policy that is resilient to change. Journal: Forum for Social Economics Pages: 176-193 Issue: 2 Volume: 48 Year: 2019 Month: 4 X-DOI: 10.1080/07360932.2017.1356345 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1356345 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:2:p:176-193 Template-Type: ReDIF-Article 1.0 Author-Name: Nikolaos Karagiannis Author-X-Name-First: Nikolaos Author-X-Name-Last: Karagiannis Title: Towards a New Economic Development Framework for the United States: The Challenge of the Developmental State Approach Abstract: The paper seeks to frame a new economic development strategy for the United States while taking into consideration a range of impediments to the country’s recent macroeconomic performance. In constructing such a framework, special emphasis is being placed on three key themes: (1) a pragmatic discourse on the “appropriate” developmental policy action by the Federal government, (2) emphasis on strengthening local production lines, and (3) the importance of adopting a long-term perspective. The main focus of the paper is to describe what policy approach might be advisable to boost, rejuvenate, and reposition the production lines of the USA and make the country’s economy more dynamic by effectively employing explicit and thorough developmental state action: this argument is advanced here as a necessary framework for support of selected industries of high potential and achievability in the United States. Journal: Forum for Social Economics Pages: 147-175 Issue: 2 Volume: 48 Year: 2019 Month: 4 X-DOI: 10.1080/07360932.2018.1497521 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1497521 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:2:p:147-175 Template-Type: ReDIF-Article 1.0 Author-Name: Robert F. Garnett Author-X-Name-First: Robert F. Author-X-Name-Last: Garnett Title: Smith after Samuelson: Care and Harm in a Socially Entangled World Abstract: In “The Economic Machine and the Invisible Hand” (2009), Murray Milgate argues that the mechanistic thrust of twentieth-century economics owes more to Paul Samuelson than to Adam Smith inasmuch as Samuelson’s Economics “unambiguously associated the invisible hand with the efficiency of perfectly competitive equilibrium.” The textbook model of perfect competition, though analytically a special case, conveys an ideologically potent vision of economic life as atomistic, amoral, and exclusively market-based. This essay presents a prima facie case for two related claims: (1) the textbook view of Adam Smith’s economics ignores the analytic symmetries and complementarities between Smith’s Theory of Moral Sentiments (TMS) and Wealth of Nations (WN) and thus misrepresents the structure and implications of Smith’s moral philosophy, and (2) TMS and WN both theorize the behavioral, institutional, and ethical foundations for and enduring pathologies of extensive cooperation in commercial societies characterized by structural inequality, factionalism, elitism, ethnocentrism, and corruption. Journal: Forum for Social Economics Pages: 125-136 Issue: 2 Volume: 48 Year: 2019 Month: 4 X-DOI: 10.1080/07360932.2019.1601122 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1601122 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:2:p:125-136 Template-Type: ReDIF-Article 1.0 Author-Name: Zoe Sherman Author-X-Name-First: Zoe Author-X-Name-Last: Sherman Title: Interrogating the Analogy of the Marketplace of Ideas, Interpreting the First Amendment Abstract: An oft-cited argument for the speech rights guaranteed in the First Amendment to the United States Constitution is that free trade in the metaphorical marketplace of ideas is a route toward truth. That is, competition in the market should lead to the success of the best ideas and the demise of falsehoods. But this metaphorical marketplace of ideas coexists with a literal marketplace of ideas in which communications professionals provide the speech and assemble the audiences that clients pay for. The literal marketplace is an arena in which those who pay pursue advantages in shaping communications in their own favor, not an arena structured to support the pursuit of an objective truth. The clash between the metaphorical and literal marketplaces of ideas bears importantly on first amendment jurisprudence. I apply this clashing marketplaces framework to two important first amendment cases of the past decade, Citizens United and Janus. Journal: Forum for Social Economics Pages: 137-146 Issue: 2 Volume: 48 Year: 2019 Month: 4 X-DOI: 10.1080/07360932.2019.1601123 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1601123 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:2:p:137-146 Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: Introduction Journal: Forum for Social Economics Pages: 123-124 Issue: 2 Volume: 48 Year: 2019 Month: 4 X-DOI: 10.1080/07360932.2019.1614274 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1614274 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:48:y:2019:i:2:p:123-124 Template-Type: ReDIF-Article 1.0 Author-Name: Mario Seccareccia Author-X-Name-First: Mario Author-X-Name-Last: Seccareccia Author-Name: Eugenia Correa Author-X-Name-First: Eugenia Author-X-Name-Last: Correa Title: Supra-National Money and the Euro Crisis: Lessons from Karl Polanyi Abstract: The paper seeks to examine some of the key features of Karl Polanyi’s ideas explaining the collapse of the pre-Great Depression unregulated market system by using his broad framework of analysis, as developed in The Great Transformation and published over 70 years ago, to explain the present Eurozone crisis. Emphasis is placed on the two key institutions of the pre-Depression era, namely haute finance and the gold standard, as well as his heterodox views on the nature and origin of money to shed light on the evolving crisis within the Eurozone. On the basis of Polanyi’s insights, the paper concludes that the cause of the latter crisis is similar and it lies primarily in the adoption of stateless or supra-national money that is even more restrictive on the behaviour of national authorities than the conditions imposed under the gold standard. The current situation of quasi-permanent austerity in the Eurozone is the inevitable consequence of its monetary architecture, and it will remain a long-term feature of Europe, unless significant institutional changes are put in place to bridge the gap between money and the state. Journal: Forum for Social Economics Pages: 252-274 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2015.1075896 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1075896 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:252-274 Template-Type: ReDIF-Article 1.0 Author-Name: Alberto Botta Author-X-Name-First: Alberto Author-X-Name-Last: Botta Title: The Complex Inequality–Innovation–Public Investment Nexus: What We (Don’t) Know, What We Should Know and What We Have to Do Abstract: In this paper, we deal with the complex relationship connecting inequality to innovation, and the ways through which public investment can affect it. We first stress that inequality and innovation may interact in many different ways. The positive relation that part of the economic theory often assumes to exist between (initially) rising inequality and improving innovation performances emerges as only one among many other far less virtuous dynamic trajectories. We then analyse the specific case of the US. We put emphasis on the possible perverse effects that the financialization of the US economy may have on the inequality–innovation nexus. We note that the US developmental state—very often neglected by the economic literature—can effectively mitigate such undesirable outcomes. According to our interpretation of recent developments in the US economy, the widespread belief in the positive pro-innovation effects of fierce cut-throat remuneration systems may prove to be ungrounded. Journal: Forum for Social Economics Pages: 275-298 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2016.1150867 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1150867 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:275-298 Template-Type: ReDIF-Article 1.0 Author-Name: William Waller Author-X-Name-First: William Author-X-Name-Last: Waller Title: Public Policy Adrift: Veblen’s Blind Drift and Neoliberalism Abstract: This paper considers the factors that currently shape and direct public policy formation in the United States. The paper begins by articulating the general position of institutionalists with regard to the purpose of public policy analysis and formulation. Next, a discussion of Thorstein Veblen’s view is presented focusing on his rejection of meliorative tendencies in the economy and the meaning of his concept of blind drift as applied to the likely direction of ongoing social processes. Then, we explore a contemporary analysis of the belief in the role of meliorative trends in contemporary social and economic policy analysis and discussions by James K. Galbraith. Then, we examine Philip Mirowski’s recent analysis of the shaping of the direction of public policy debate by what he refers to as the neoliberal thought collective as a mitigating factor to the blind drift suggested by Thorstein Veblen. Journal: Forum for Social Economics Pages: 223-233 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2016.1176948 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1176948 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:223-233 Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: Corrigendum Journal: Forum for Social Economics Pages: 318-318 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2016.1195137 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1195137 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:318-318 Template-Type: ReDIF-Article 1.0 Author-Name: Morris Altman Author-X-Name-First: Morris Author-X-Name-Last: Altman Title: Policy Consequences of Multiple Equilibria and the Indeterminacy of Economic Outcomes in a Boundedly Rational World: Closing the System with Non-Economic Variables Abstract: In the conventional economic wisdom, the notion of unique equilibria that are efficient and Pareto optimal dominates the modeling discourse. Hebert Simon proposed an alternative analytical framework where the notion of multiple and sustainable equilibria is critical. Multiple equilibrium is the crucial stylized fact of economic life that requires better understanding and modeling. Of particular significance, Simon touched on the importance of institutions and differential power relationships in affecting economic outcomes. But this modeling approach was not well developed by Simon. Following from his contributions, further develop the notion of multiple equilibria especially in the realm of production with an emphasis on x-efficiency theory. I bring to bear the importance of institutional parameters (including power relationships), culture, norms, ethics, and moral sentiments to the determination of economic outcomes. In the model developed here, boundedly rational decision-makers’ choices are contextualized and constrained by complex environmental factors. No one choice is either inevitable or economically efficient. A multiplicity of outcomes is possible and sustainable inclusive of those that are suboptimal. Much depends on individual preferences and institutional design. This has significant implication for institutional design and policy. Journal: Forum for Social Economics Pages: 234-251 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2016.1211027 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1211027 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:234-251 Template-Type: ReDIF-Article 1.0 Author-Name: Michele Cangiani Author-X-Name-First: Michele Author-X-Name-Last: Cangiani Title: A comment on Anup Dash, “An Epistemological Reflection on Social and Solidarity Economy”, , 45–1, 2016, pp. 61–87 Journal: Forum for Social Economics Pages: 299-301 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2016.1229632 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1229632 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:299-301 Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: Response to Michele Cangiani Journal: Forum for Social Economics Pages: 302-304 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2016.1268968 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1268968 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:302-304 Template-Type: ReDIF-Article 1.0 Author-Name: Michalis Nikiforos Author-X-Name-First: Michalis Author-X-Name-Last: Nikiforos Author-Name: Gennaro Zezza Author-X-Name-First: Gennaro Author-X-Name-Last: Zezza Title: Towards an Understanding of the Greek Crisis and the Flawed Analyses of the Levy Economics Institute’s Publications: A Reply Journal: Forum for Social Economics Pages: 311-314 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2017.1334569 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1334569 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:311-314 Template-Type: ReDIF-Article 1.0 Author-Name: Nikolaos Karagiannis Author-X-Name-First: Nikolaos Author-X-Name-Last: Karagiannis Author-Name: C. J. Polychroniou Author-X-Name-First: C. J. Author-X-Name-Last: Polychroniou Title: Towards an Understanding of the Greek Crisis and the Flawed Analyses of the Levy Economics Institute’s Publications: A Rejoinder Journal: Forum for Social Economics Pages: 315-317 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2017.1334570 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1334570 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:315-317 Template-Type: ReDIF-Article 1.0 Author-Name: Nikolaos Karagiannis Author-X-Name-First: Nikolaos Author-X-Name-Last: Karagiannis Author-Name: C. J. Polychroniou Author-X-Name-First: C. J. Author-X-Name-Last: Polychroniou Title: Towards an Understanding of the Greek Crisis and the Flawed Analyses of the Levy Economics Institute’s Publications Journal: Forum for Social Economics Pages: 305-310 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2017.1334571 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1334571 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:305-310 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Welcome to the - of the , 3-2017 Journal: Forum for Social Economics Pages: 221-222 Issue: 3 Volume: 46 Year: 2017 Month: 7 X-DOI: 10.1080/07360932.2017.1335268 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1335268 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:3:p:221-222 Template-Type: ReDIF-Article 1.0 Author-Name: Fabien Eloire Author-X-Name-First: Fabien Author-X-Name-Last: Eloire Title: The Bourdieusian Conception of Social Capital: A Methodological Reflection and Application Abstract: This paper is on social capital and the meaning that Bourdieu has given to this concept in his Notes provisoires, published in 1980. He considered social capital as one of the most important forms of capital, along with economic capital and cultural capital. Even though he did not propose an explicit measure of social capital, so it remained in a conceptual state, he promoted an innovative research programme. Our contribution is to propose a generic method to empirically measure and test hypotheses on social capital, based on Bourdieu's work. We aim at creating an analytical framework that places this concept at the centre of the Bourdieusian theoretical approach. For this purpose, we combine two sociological tools that relate to two different sociological traditions, namely social network analysis and multiple correspondence analyses. Thus, our paper describes the ways to combine field and network analyses, and illustrates this with an empirical study. Journal: Forum for Social Economics Pages: 322-341 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2015.1028084 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1028084 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:322-341 Template-Type: ReDIF-Article 1.0 Author-Name: Frédéric Lebaron Author-X-Name-First: Frédéric Author-X-Name-Last: Lebaron Title: Pierre Bourdieu, Geometric Data Analysis and the Analysis of Economic Spaces and Fields Abstract: In this paper, we discuss the current relevance of geometric data analysis (GDA) in a new state of the field of economics where social science disciplines interested in economic phenomena tend to converge. We argue that this methodology can respond to the growing need to seek for more solid empirical foundations, and to adopt a multidimensional approach in social economics. We begin by setting out the basic principles of GDA methodology, which clearly distinguish descriptive and inferential moments of the research. Then, we show why and how Bourdieu used these methods in the studies he carried out in France in a variety of economic spaces and fields: lifestyle and consumption, corporate management, the individual housing market and publishing. We stress that GDA helps us to formalise the configuration and dynamics of economic institutions, groups and interests in a truly multidimensional and pluralistic way compared to standard methods used by mainstream economics. Journal: Forum for Social Economics Pages: 288-304 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2015.1043928 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1043928 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:288-304 Template-Type: ReDIF-Article 1.0 Author-Name: Anne Jourdain Author-X-Name-First: Anne Author-X-Name-Last: Jourdain Title: Analysing the Symbolic Economy with Pierre Bourdieu: The World of Crafts Abstract: The world of crafts belongs to the ‘economy of symbolic goods’ identified by Pierre Bourdieu. The theoretical aim of this article is to show that Bourdieu’s analytical framework and methods are particularly useful to comprehend the structure of the diverse French craft economy and to understand the different ways in which symbolic and economic dimensions combine. First, the use of quantitative and qualitative methods (especially geometric data analysis) enables to highlight the structure of the world of crafts which remains divided between a traditional pole and a contemporary pole. Then, the apparent opposition between economic and symbolic aspects of crafts, represented by the two poles, is qualified by pointing out the different forms of ‘denial of the economy’ adopted by artist-craftsmen according to their economic and social characteristics. Finally, the article shows how economic and symbolic dimensions combine through the symbolic construction of the economic value of craft products. Journal: Forum for Social Economics Pages: 342-361 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2015.1075895 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1075895 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:342-361 Template-Type: ReDIF-Article 1.0 Author-Name: Asimina Christoforou Author-X-Name-First: Asimina Author-X-Name-Last: Christoforou Title: Connecting Theory with Practice: Lessons from Bourdieu Journal: Forum for Social Economics Pages: 278-287 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2016.1187190 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1187190 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:278-287 Template-Type: ReDIF-Article 1.0 Author-Name: Alberto Botta Author-X-Name-First: Alberto Author-X-Name-Last: Botta Title: Financial and Capital Account Liberalization, Financial Development and Economic Development: A Review of Some Recent Contributions Abstract: This article presents a review of some recent contributions on the relation between global finance and economic development in emerging economies. It first, stresses the growing consensus among economists on the financial instability that financial and capital account liberalization can possibly cause in emerging economies. It then outlines and compares two alternative strategies to tame such instability. The comparison is between the “good-institutions need-to-come-first” approach put forward by some mainstream economists, and the request for a deeper reform of the existing monetary system advocated by heterodox economists. Journal: Forum for Social Economics Pages: 362-377 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2017.1383286 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1383286 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:362-377 Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: List of Reviewers for the Forum, 2012–2017 Journal: Forum for Social Economics Pages: 386-389 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2018.1450339 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1450339 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:386-389 Template-Type: ReDIF-Article 1.0 Author-Name: Steven Pressman Author-X-Name-First: Steven Author-X-Name-Last: Pressman Title: Ingrid Hahne Rima (1925–2015) Journal: Forum for Social Economics Pages: 378-385 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2018.1463625 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1463625 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:378-385 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Managing Editor’s Editorial Journal: Forum for Social Economics Pages: 277-277 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2018.1463682 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1463682 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:277-277 Template-Type: ReDIF-Article 1.0 Author-Name: Meltem Odabaş Author-X-Name-First: Meltem Author-X-Name-Last: Odabaş Author-Name: Fikret Adaman Author-X-Name-First: Fikret Author-X-Name-Last: Adaman Title: Engaging with Social Networks: The Bourdieu-Becker Encounter Revisited Abstract: Economic implications of social networks are of great importance and economic motives may well play crucial roles in network formation and dissipation. Although historically speaking the mainstream economics' attention to the subject had rather been limited, in the previous couple of decades, the economics discipline developed its own branch of social network analysis and incorporated in their analysis individuals' networking decisions based on a standard Beckerian cost-benefit calculus. In understanding the scope of this new branch in economics discipline to incorporate social dimensions of the economy, this article aims to bring a Bourdieusian critique toward this approach, given that Bourdieu had been critical to a Beckerian cost-benefit reductionism in decision-making and had himself developed his own approach to social relations. Journal: Forum for Social Economics Pages: 305-321 Issue: 3-4 Volume: 47 Year: 2018 Month: 10 X-DOI: 10.1080/07360932.2014.970568 File-URL: http://hdl.handle.net/10.1080/07360932.2014.970568 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:3-4:p:305-321 Template-Type: ReDIF-Article 1.0 Author-Name: Ying Zhen Author-X-Name-First: Ying Author-X-Name-Last: Zhen Title: English Proficiency and Earnings of Foreign-Born Immigrants in the USA from 1980 to 2000: The Effect of Minority-Language Enclaves Abstract: This paper compares the importance of English proficiency (EP) on earnings among the foreign-born immigrants from 1980 to 2000 and shows its importance varied over time. The key issue examined is changes in the impact of being in a minority-language enclave and its interactions with the return to EP. Results show that the negative effects of enclaves were the greatest in 1990 and such effects were significantly stronger among those fluent English speakers. The relationship between EP and the enclave effects is explored, which confirms their strong interaction in 1990. However, the evidence of fluent speakers' large migrations from enclaves between 1990 and 2000 is not strong, as of the 24 foreign language groups, 13 showed decreases in fluency in enclaves relative to non-enclaves, while 11 showed increases in fluency in enclaves relative to non-enclaves. This may relate to non-wage benefits of living in enclaves, such as social benefits. Journal: Forum for Social Economics Pages: 329-349 Issue: 4 Volume: 45 Year: 2016 Month: 10 X-DOI: 10.1080/07360932.2015.1026920 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1026920 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:4:p:329-349 Template-Type: ReDIF-Article 1.0 Author-Name: Caroline Shenaz Hossein Author-X-Name-First: Caroline Shenaz Author-X-Name-Last: Hossein Title: Money Pools in the Americas: The African Diaspora’s Legacy in the Social Economy Abstract: Money pools are ancient African traditions that speak to the functionality of getting things done by a historically oppressed group of people. The analysis for this study is based on 583 interviews in five Caribbean countries: Haiti, Grenada, Jamaica, Trinidad and Tobago, and Guyana. African traditions of collectives reveal that Black people have long had money pools that focused on helping people thrive in commerce, including during the hard times of slavery and colonization. This research argues that throughout the Caribbean indigenous banking systems—with localized names such as susu, partner, meeting-turn, box-hand and sol—are long-standing ancient traditions that historically and currently are taking a bold stand against exclusionary financial systems. African-Caribbean people have an important legacy on the social economy through money pools. The ways in which persons of African descent organize in the social economy is vital to unravelling the market fundamentalist view that there is only a singular way to do business in society. Journal: Forum for Social Economics Pages: 309-328 Issue: 4 Volume: 45 Year: 2016 Month: 10 X-DOI: 10.1080/07360932.2015.1114005 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1114005 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:4:p:309-328 Template-Type: ReDIF-Article 1.0 Author-Name: Nunzia Nappo Author-X-Name-First: Nunzia Author-X-Name-Last: Nappo Title: Interactions on Job and Employee Effort within Italian Social Cooperatives Abstract: The aim of this paper is to analyse, using a standard ordered probit model, the correlates of worker effort within Italian social cooperatives. The main assumption of the paper is that employee effort depends not only on standard variables that explain effort but also on employees’ interpersonal relationships on the job. The analysis adds a new piece of evidence to the extant literature on effort, i.e. the impact of on-the-job interpersonal relationships on effort. The results show that there exists a positive correlation between the quantity and quality of worker relations within the social enterprise with customers, volunteers, colleagues and superiors and effort. Journal: Forum for Social Economics Pages: 350-372 Issue: 4 Volume: 45 Year: 2016 Month: 10 X-DOI: 10.1080/07360932.2016.1187189 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1187189 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:4:p:350-372 Template-Type: ReDIF-Article 1.0 Author-Name: Berhanu Nega Author-X-Name-First: Berhanu Author-X-Name-Last: Nega Author-Name: Geoffrey Schneider Author-X-Name-First: Geoffrey Author-X-Name-Last: Schneider Title: Africa Rising? Short-Term Growth vs. Deep Institutional Concerns Abstract: Research on development has moved away from short-term performance to long-term determinants of success. This paper identifies historical factors that shaped the development of key institutions, the degree to which these institutions affected past economic outcomes and, more importantly, which ones are influencing contemporary performance. We first look at the trend in long-term economic performance for the continent compared with other regions of the world. The paper then evaluates the various explanations provided by the standard development model to explain this performance for Africa. The paper shows that the most important long-term determinant of economic and social performance in the continent has been the nature of the distribution of power, which shaped the distribution of economic resources. Furthermore, the paper argues that the distribution of power and the institutions that ensure this distribution were shaped by a number of historical events whose impact still endures. Journal: Forum for Social Economics Pages: 283-308 Issue: 4 Volume: 45 Year: 2016 Month: 10 X-DOI: 10.1080/07360932.2016.1200108 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1200108 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:45:y:2016:i:4:p:283-308 Template-Type: ReDIF-Article 1.0 Author-Name: Constance André-Aigret Author-X-Name-First: Constance Author-X-Name-Last: André-Aigret Author-Name: Robert W. Dimand Author-X-Name-First: Robert W. Author-X-Name-Last: Dimand Title: Populism versus Economic Expertise: J. Laurence Laughlin Debates William (Coin) Harvey Abstract: William Harvey’s best-selling Coin’s Financial School made the bimetallist case for free coinage of silver through a fictitious debate in which leading bankers, politicians, and economists were humiliated by a young bimetallist. One of Harvey’s targets, J. Laurence Laughlin, challenged Harvey to a real debate, in which populist critique of established authority was confronted with an emphatic defense of monetary orthodoxy and academic expertise by an economist who, though founder of the University of Chicago’s economics department and of the Journal of Political Economy, had a problematic claim to speak for the economics discipline as a whole. Journal: Forum for Social Economics Pages: 164-172 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451760 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451760 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:164-172 Template-Type: ReDIF-Article 1.0 Author-Name: Ilene Grabel Author-X-Name-First: Ilene Author-X-Name-Last: Grabel Title: Reflections on the Economics Profession, the Neoliberal Conjuncture, and the Emerging Democratic Crisis: An Analysis in the Spirit of Albert O. Hirschman Abstract: How might Albert O. Hirschman have us theorize the culpability of the economics profession in the profound anti-democratic impulses that have taken root in so many parts of the world? In my reading, Hirschman would want to hold the profession accountable for having produced the unfolding democratic crisis. He was a profound critic of the pursuit of institutional and policy coherence, such as embodied in the utopian neoliberal project, and the associated pursuit of theoretical purity. Hirschman tied grand, systemic thinking to the hubris of the economics profession. He emphasized in particular, the need for humility, patience, and recognition of the epistemic limitations of the profession and the ineluctable complexity of social systems. Journal: Forum for Social Economics Pages: 173-183 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451761 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451761 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:173-183 Template-Type: ReDIF-Article 1.0 Author-Name: Melanie G. Long Author-X-Name-First: Melanie G. Author-X-Name-Last: Long Title: Pushed into the Red? Female-headed Households and the Pre-crisis Credit Expansion Abstract: In the lead-up to the 2008 Financial Crisis, average household debt grew significantly. Some evidence suggests that female-headed households may have been disproportionally represented in this increase in indebtedness. This analysis uses Survey of Consumer Finance data from 1995 to 2013 to investigate whether female-headed households experienced greater growth in debt during the pre-crisis credit expansion relative to male-headed households and whether this debt persisted post-crisis. The results indicate that female-headed households account for most of the growth in mortgage debt among lower income households during the credit expansion. Younger female household heads exhibited greater growth in average educational debt than young male household heads prior to the crisis, and growth in educational debt post-crisis was larger for older female household heads. This rising indebtedness among lower income female-headed households was not accompanied by sustained wealth or income growth, leading to increases in leverage and financial fragility. Journal: Forum for Social Economics Pages: 224-236 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451762 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451762 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:224-236 Template-Type: ReDIF-Article 1.0 Author-Name: Julie A. Nelson Author-X-Name-First: Julie A. Author-X-Name-Last: Nelson Title: The Complicity of Economics Abstract: Economics has long promoted an image of agents who profit and consume for their own individual benefit without any kind of responsibility for each other, and who rationally evaluate means but not ends. This contribution explores the relationship between the expanding influence of the homo economicus image and the rise of Donald Trump. Journal: Forum for Social Economics Pages: 214-219 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451763 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451763 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:214-219 Template-Type: ReDIF-Article 1.0 Author-Name: James K. Galbraith Author-X-Name-First: James K. Author-X-Name-Last: Galbraith Title: Pecuniary Valuation in the Age of Trump Abstract: Pecuniary valuation is the peculiar characteristic of present-day American political life, with no better illustration than our incumbent president. This paper considers the responsibility of economists for this condition, in light of the inequality dynamics that helped to produce the 2016 election outcome. I show that states with the greatest increases of inequality from 1990 to 2014 invariably voted for the Democratic candidate, Hillary Clinton, while states with smaller inequality increases generally voted for Donald Trump. This outcome reflected an underlying rebellion against the professional elites. Though members of those same elites, economists have greatly undermined the reputation of this class, because their doctrines work to deny the utility of other professionals—scientists, engineers, lawyers, accountants—who serve a regulatory function in the market system. Economists therefore serve as enablers of the oligarchy, of the predator class, of the systems of direct rule under which we live. Journal: Forum for Social Economics Pages: 158-163 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451764 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451764 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:158-163 Template-Type: ReDIF-Article 1.0 Author-Name: Stephan Pühringer Author-X-Name-First: Stephan Author-X-Name-Last: Pühringer Author-Name: Walter O. Ötsch Author-X-Name-First: Walter O. Author-X-Name-Last: Ötsch Title: Neoliberalism and Right-wing Populism: Conceptual Analogies Abstract: The paper compares neoliberal market-fundamentalism and right-wing populism on the basis of its core patterns of thinking and reasoning. Hence we offer an analysis of the work of important founders of market-fundamental economic thinking (particularly von Mises) and an established definition of populism (demonstrated by the example of arguments brought forward by leading populists, like Trump). In doing so, we highlight conceptual resemblances of these two approaches: Both assume a dually divided world that is split into only two countervailing parts. Right-wing populism shows a society split into two groups, fighting against each other. In a similar vein, neoliberal market-fundamentalists argue that there are only two possible countervailing economic and societal orders. We argue that the categorical analogies between neoliberal market-fundamentalism and right-wing populism could provide the basis for a new form of authoritarian neoliberalism. Journal: Forum for Social Economics Pages: 193-203 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451765 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451765 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:193-203 Template-Type: ReDIF-Article 1.0 Author-Name: Richard D. Author-X-Name-First: Richard D. Author-X-Name-Last: Title: Democracy and the (Ir)responsibility of Economics Journal: Forum for Social Economics Pages: 220-223 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451766 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451766 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:220-223 Template-Type: ReDIF-Article 1.0 Author-Name: Asimina Christoforou Author-X-Name-First: Asimina Author-X-Name-Last: Christoforou Author-Name: Fikret Adaman Author-X-Name-First: Fikret Author-X-Name-Last: Adaman Title: Democratisation of Economic Research and Policy by Building a Knowledge Commons: Inspiration from Cooperatives Abstract: We argue that the virtual reality of homo economicus dominates our economic theories and policies, producing inefficient and unjust outcomes and thus leading to wasteful use or/and unequal distribution of resources. Thus we believe there is need to incorporate substantive aspects of human life and well-being as well as to embrace the plurality of people’s values, priorities and rationalities. To this end, we propose the democratisation of economic research and policy by building a knowledge commons and drawing inspiration from cooperatives. We begin our analysis by envisioning knowledge as a commons where all interested parties within science and society participate and deliberate on the basis of democratic principles and practices. To concretise our arguments, we introduce the historical example of cooperatives, which can play a prefigurative and transformational role by fostering democratic participation, redistribution and reciprocity. We describe specific ways in which these alternative economies can inspire economists to democratise research and policy. Journal: Forum for Social Economics Pages: 204-213 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451767 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451767 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:204-213 Template-Type: ReDIF-Article 1.0 Author-Name: Richard McIntyre Author-X-Name-First: Richard Author-X-Name-Last: McIntyre Title: The Development of Social Economy in France Since 1945 Abstract: The social economy is large and legally embedded in France yet its institutions and practices are poorly understood in the English-speaking world. The roots of the social economy lie in pre-Marxian socialism, the labor movement, and social Catholicism. Marginalized after World War II, the theory and practice of social economy made a comeback with the “second left” of the 1970s and 1980s, including a particular emphasis on self-management or “autogestion.” With new legal support for cooperatives and growing academic interest in social economy, the future is promising. At the same time, the collapse of the Socialist Party and the liberal trend of the main union federation supporting social economy are worrisome. Journal: Forum for Social Economics Pages: 253-261 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451768 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451768 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:253-261 Template-Type: ReDIF-Article 1.0 Author-Name: Christian E. Weller Author-X-Name-First: Christian E. Author-X-Name-Last: Weller Author-Name: Angela Hanks Author-X-Name-First: Angela Author-X-Name-Last: Hanks Title: The Widening Racial Wealth Gap in the United States after the Great Recession Abstract: African-Americans consistently have a lot less wealth than whites. This impedes their economic mobility as they have fewer resources to start a business, pay for their children’s education and move to a new neighborhood for a new job or better education. The concurrent labor market and housing market decline during and after the Great Recession of 2007–2009 measurably widened this racial wealth gap. In the years after the Great Recession, African-Americans had about one-tenth the wealth of whites. Significant wealth gaps exist by age, education, marital status, and income. The implication is that African-Americans continue to face substantial obstacles in the labor, housing and credit markets to rebuilding their wealth and significantly close the wealth gap. The racial wealth gap in 2016 consequently was still much wider than before the Great Recession. Journal: Forum for Social Economics Pages: 237-252 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451769 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451769 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:237-252 Template-Type: ReDIF-Article 1.0 Author-Name: Zoe Sherman Author-X-Name-First: Zoe Author-X-Name-Last: Sherman Title: Commodified Attention, Commodified Speech, and the Rejection of Expertise Abstract: In this paper I aim to consider some aspects of the system of communications within which expertise may be created and accepted … or rejected. For speech to be recognized as an expression of expertise, it has to be recognized as making a legitimate truth claim grounded in something other than, and broader than, the speakers’ narrow self-interest. Almost by definition, the content of the truth claims made by an expert are difficult for the nonexpert to assess. To recognize expertise must be an expression of trust. The communications system we inhabit has two features that corrode that trust: commodified access to attention and commodified speech. The advertising industry and the media that serve it treat our attention as a commodity. Attention sellers have developed into niche marketers and attention buyers have developed the practice of placing narrowly targeted orders for eyes and ears. As a result, we are grouped into such different attention clusters, it is nearly impossible for anyone to be recognized as a trustworthy speaker by members of multiple clusters. In addition, much of what we hear is said by people who speak on behalf of others to earn a paycheck. We are continually confronted with speech that is untethered from any authentic speaker—it is neither fully the speech of the buyer nor of the paid producer—and we encounter this speech as members of bundles that are increasingly disjoint from one another. These are not conducive conditions for the cultivation of broadly recognized expertise. Journal: Forum for Social Economics Pages: 184-192 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451770 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451770 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:184-192 Template-Type: ReDIF-Article 1.0 Author-Name: Chata Male Author-X-Name-First: Chata Author-X-Name-Last: Male Author-Name: Quentin Wodon Author-X-Name-First: Quentin Author-X-Name-Last: Wodon Title: Girls’ Education and Child Marriage in West and Central Africa: Trends, Impacts, Costs, and Solutions Abstract: Within the context of women’s lack of empowerment, the issues of child marriage and low educational attainment for girls are prominent, especially in West and Central Africa. Using survey data for 21 of the 25 countries in West and Central Africa, this article analyzes trends over time in educational attainment for girls and child marriage. Over the last two and a half decades, not accounting for differences in population sizes between countries, according to the latest DHS and MICS surveys available in each country, completion rates increased on average by 24 points, 14 points, and 8 points at the primary, lower secondary, and upper secondary levels, respectively. The prevalence of child marriage decreased by about 8 points over that period. Clearly, progress at the secondary level has been weaker than at the primary level, probably in part due to the persistence of high rates of child marriage in many countries. The article suggests that ending child marriage should improve girls’ educational attainment, and conversely, improving girls’ educational attainment should help reduce child marriage. This, in turn, could have major impacts toward contributing to empowering women more broadly. A review of impact evaluations for pilot interventions suggests how ending child marriage and improving educational attainment for girls could be done, with potentially large economic benefits not only for girls and their future household, but also for the region as a whole. Journal: Forum for Social Economics Pages: 262-274 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1451771 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1451771 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:262-274 Template-Type: ReDIF-Article 1.0 Author-Name: George F. DeMartino Author-X-Name-First: George F. Author-X-Name-Last: DeMartino Title: Editor’s Introduction, FSE Papers and Proceedings Journal: Forum for Social Economics Pages: 153-157 Issue: 2 Volume: 47 Year: 2018 Month: 4 X-DOI: 10.1080/07360932.2018.1456478 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1456478 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:47:y:2018:i:2:p:153-157 Template-Type: ReDIF-Article 1.0 Author-Name: Karl H. Müller Author-X-Name-First: Karl H. Author-X-Name-Last: Müller Title: Expanding Socio-economics in Four Dimensions Abstract: During the last decades the rapid progress in the fields of complex modelling and simulationor in the cognitive and the life sciences was not accompanied by a similar advancement of the socio-economic research tradition itself. Socio-economics as a hybrid field for the complex dynamics of modern societies across their micro-, meso- and macro-levels has still a long way to go in order to reach its full potential. The present article provides a general outline for expanding and advancing socio-economics along four different dimensions which should be able to produce a significant take-off for socio-economic theories, models, methods and mechanisms. Journal: Forum for Social Economics Pages: 26-51 Issue: 1 Volume: 46 Year: 2017 Month: 1 X-DOI: 10.1080/07360932.2015.1094744 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1094744 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:1:p:26-51 Template-Type: ReDIF-Article 1.0 Author-Name: Reinhold Hedtke Author-X-Name-First: Reinhold Author-X-Name-Last: Hedtke Title: Special Issue “Perspectives of Social Economics Today”: European Contributions Journal: Forum for Social Economics Pages: 1-2 Issue: 1 Volume: 46 Year: 2017 Month: 1 X-DOI: 10.1080/07360932.2016.1211957 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1211957 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 Author-Name: Werner Nienhueser Author-X-Name-First: Werner Author-X-Name-Last: Nienhueser Title: Socio-economic Research in Personnel versus Personnel Economics Abstract: This paper argues that personnel economics is still dominated by the assumptions of orthodox microeconomics, and also that newer fields such as transaction cost theory are far removed from socio-economics. Personnel economics is characterised by assumptions of unbounded rationality, stable preferences and functioning markets; power differences are seen as unimportant for explanations. By contrast, a socio-economic perspective works with the assumption of bounded rationality; it takes preferences into account, assumes that markets are characterised by ‘non-equilibrium’ states and power differences. The paper outlines a socio-economic mode of explanation and suggests that any explanation should include assumptions about three theoretical mechanisms: pursuit of utility, power and sense-making. Journal: Forum for Social Economics Pages: 104-119 Issue: 1 Volume: 46 Year: 2017 Month: 1 X-DOI: 10.1080/07360932.2014.961498 File-URL: http://hdl.handle.net/10.1080/07360932.2014.961498 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:1:p:104-119 Template-Type: ReDIF-Article 1.0 Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Social Economics and Evolutionary Institutionalism Today Abstract: This paper discusses theoretical and methodological elements that constitute social economics. It also considers those elements for evolutionary (Veblenian) institutional economics. It investigates how these “heterodoxies” may further converge. Such convergence would probably not trigger a complete unification, but lead to a broadly defined common research program and a strategy for joint “heterodox” survival, in face of the ranking game of the neoclassical “mainstream” and of the dominant powers supporting it as the discipline providing ideological legitimization. A common denominator of “heterodoxies” in terms of real-world orientation, direct interdependency and interaction of agents (social decision situations), appropriate complexity, and the treatment of values is drafted. Theoretical concepts discussed include complex and open systems, individual agency, institutions, embeddedness, networks, social reform, and process orientation. Formal methodological developments considered are complex modeling, game theory, or computer simulations. We arrive at a more formal common basis, which we term socio-economics. We also consider the relations of evolution and institutions, the institutional dichotomy, and the theory of institutional change. The monism of the “market” of the “mainstream” turns out to dissolve into the institutional diversity of real-world network forms, which helps explaining real-world forms of markets, hierarchies, or spatial clusters. Focuses of “heterodox” convergence will have to be the related “microfoundations” and “macrofoundations” projects, integrating an interdisciplinary “naturalistic” approach to genetic-cultural co-evolution of cooperation, and social reform. While modern socio-economics makes “heterodoxies” leading in economic research, their future still appears open between ideological cleansing and extinction through the mainstream, and proactive paradigmatic pluralism. Journal: Forum for Social Economics Pages: 52-77 Issue: 1 Volume: 46 Year: 2017 Month: 1 X-DOI: 10.1080/07360932.2014.964744 File-URL: http://hdl.handle.net/10.1080/07360932.2014.964744 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:1:p:52-77 Template-Type: ReDIF-Article 1.0 Author-Name: Steve Fleetwood Author-X-Name-First: Steve Author-X-Name-Last: Fleetwood Title: From Labour Market Institutions to an Alternative Model of Labour Markets Abstract: This post-disciplinary article goes beyond orthodox labour economics and combines insights from the ‘socio-economics of labour markets’ (SELM), and critical realism (CR), to develop a SELMCR perspective, which is then used to create an alternative conception of labour market institutions and an alternative model of labour markets, i.e. the SELMCR model. Journal: Forum for Social Economics Pages: 78-103 Issue: 1 Volume: 46 Year: 2017 Month: 1 X-DOI: 10.1080/07360932.2014.970567 File-URL: http://hdl.handle.net/10.1080/07360932.2014.970567 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:1:p:78-103 Template-Type: ReDIF-Article 1.0 Author-Name: Simon Niklas Hellmich Author-X-Name-First: Simon Niklas Author-X-Name-Last: Hellmich Title: What is Socioeconomics? An Overview of Theories, Methods, and Themes in the Field Abstract: The term socioeconomics is widely used, even though it is often connoted to quite divergent understandings about what it actually describes. It sometimes appears as an umbrella term for a range of quite successful but diverse and occasionally antagonistic approaches that cannot easily be combined. Sometimes it is applied to rather specific scientific endeavors. This paper is not conceptual, i.e., it concludes with some moderate considerations about optional ways to advance a consolidation of socioeconomics only. In first instance, it is intended to provide some orientation in the diverse field and discusses distinctions that can be made between major theoretical and methodological currents, subject areas, and understandings of the purpose of socioeconomics. Journal: Forum for Social Economics Pages: 3-25 Issue: 1 Volume: 46 Year: 2017 Month: 1 X-DOI: 10.1080/07360932.2014.999696 File-URL: http://hdl.handle.net/10.1080/07360932.2014.999696 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:46:y:2017:i:1:p:3-25 Template-Type: ReDIF-Article 1.0 Author-Name: Cecilia Winters Author-X-Name-First: Cecilia Author-X-Name-Last: Winters Title: Introduction Journal: Forum for Social Economics Pages: 1-2 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2016.1222948 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1222948 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:1-2 Template-Type: ReDIF-Article 1.0 Author-Name: Peter Gardella Author-X-Name-First: Peter Author-X-Name-Last: Gardella Title: Religions and the living wage Abstract: This paper argues that global economic justice can best be advanced by religious leaders, beginning with Pope Francis, advocating for a living wage. The idea of a living wage—that every full-time worker should be paid enough to support a family—grows from deep roots in biblical, Jewish, Roman Catholic, and Protestant thought. Those roots developed through the work of Catholic thinkers, especially Pope Leo XIII and John A. Ryan, who was a doctoral student under Richard T. Ely, an Episcopalian. Today, such diverse scholars as Amartya Sen, Ramzi Mabsout, and Martha Nussbaum offer new supports to the call for a living wage. Building on the capabilities approach to development advanced by Sen and Nussbaum, the paper contends that a living wage fosters capabilities. Building on Mabsout’s concept of “ethical realism”, this paper presents religious traditions as the means whereby one special capability—the intuitive grasp of justice that Mabsout sees as crucial—can be fostered. Informed by the religious history presented here, readers of this paper should see why ethical realism demands that the standard of a living wage be met. In recent decades, increasing inequality has led to coalitions of religious activists seeking a living wage. To make such coalitions effective, the paper will urge that Pope Francis and other religious leaders lead boycotts and seek political actions on behalf of a global living wage. Journal: Forum for Social Economics Pages: 3-23 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2015.1072097 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1072097 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:3-23 Template-Type: ReDIF-Article 1.0 Author-Name: Oren M. Levin-Waldman Author-X-Name-First: Oren M. Author-X-Name-Last: Levin-Waldman Title: Refocusing the Minimum Wage Debate: Overcoming Management Failure and Achieving the High Road Abstract: Early supporters of the minimum wage couched their arguments in terms of achieving greater productivity and efficiency. Some of the early management theorists like Frederick Winslow Taylor talked about how overall efficiency could be improved if management undertook to make second-class workers into first-class workers. The efficiency wage argument put forth by Sidney Webb held that a minimum wage would actually encourage managers to invest in their workers’ human capital. This paper refocuses the debate on the issues that the minimum wage really speaks to: the type of society that we want to be. On the basis of CPS data, I show that the effective minimum wage population is considerably larger than commonly supposed, and that today’s unskilled workers are no different than the unskilled industrial workers during Taylor’s time. Therefore, Taylor’s argument about making second-class workers into first-class workers through efficiency wages still has application to today’s growing low-wage labor market. Journal: Forum for Social Economics Pages: 24-50 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2015.1121837 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1121837 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:24-50 Template-Type: ReDIF-Article 1.0 Author-Name: Veronika Dolar Author-X-Name-First: Veronika Author-X-Name-Last: Dolar Title: Are We Teaching Outside the Box? A National Survey on Teaching the Minimum Wage in Undergraduate Economics Classes Abstract: The purpose of this paper is to study how professors in the US teach about the minimum wage. Results of a survey suggest that almost all instructors cover the topic of minimum wage in their introductory courses and tend to cover this topic in a similar manner to how it is covered in introductory textbooks: by focusing on the employment effects of the minimum wage in the neoclassical model. In addition, instructors have relatively conservative views about the minimum wage effect and tend to agree that the minimum wage negatively impacts low-skilled workers. Finally, there seems to be a small “liberal bias” where instructors who are in favor of the minimum wage are less likely to teach the standard labor supply-demand model, and a larger “conservative bias” where instructors who tend to believe in the negative impact of a minimum wage are less likely to discuss the assumption of monopsony in the labor market. Journal: Forum for Social Economics Pages: 51-74 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2015.1103769 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1103769 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:51-74 Template-Type: ReDIF-Article 1.0 Author-Name: Liam C. Malloy Author-X-Name-First: Liam C. Author-X-Name-Last: Malloy Title: The minimum wage, bargaining power, and the top income share Abstract: Much of the argument in support of the minimum wage is its ability to lift workers out of poverty. But the minimum wage also has the potential to influence the relative bargaining power between (non-union) workers and firms and historically this was one of its main purposes. In this paper, we review how the minimum wage can improve workers’ bargaining position. We use a state-level panel data set that exploits differences in the minimum wage at the state level to show that higher minimum wages, along with unionization rates and higher top marginal tax rates, are successful in reducing overall income inequality, mainly by reducing the share of income going to the top 1% of the income distribution. Journal: Forum for Social Economics Pages: 75-98 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2016.1155468 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1155468 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:75-98 Template-Type: ReDIF-Article 1.0 Author-Name: Stefan Mann Author-X-Name-First: Stefan Author-X-Name-Last: Mann Title: Individual Utility Effects of Minimum Wages in a New Activity-Choice Framework Abstract: A new model combining occupational and consumption choices into activity choices is applied to estimate the effect of a minimum wage on utility levels. It is shown that utility is affected negatively by a minimum-wage boundary, regardless of whether the individual concerned switches to a different job or to self-employment, or whether he leaves the working sector to pursue activities in the unpaid or consumer sector. So long as wages remain the main tool for redistributing wealth, there will be an unavoidable trade-off between utility maximisation and distributional equality. Journal: Forum for Social Economics Pages: 99-108 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2014.946944 File-URL: http://hdl.handle.net/10.1080/07360932.2014.946944 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:99-108 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Derrell Author-X-Name-First: Robert Author-X-Name-Last: Derrell Author-Name: Cecilia Winters Author-X-Name-First: Cecilia Author-X-Name-Last: Winters Title: Minimum Wages Journal: Forum for Social Economics Pages: 109-113 Issue: 1 Volume: 49 Year: 2020 Month: 1 X-DOI: 10.1080/07360932.2016.1236029 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1236029 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:1:p:109-113 Template-Type: ReDIF-Article 1.0 Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: Introduction Journal: Forum for Social Economics Pages: 115-116 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2020.1757221 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1757221 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:115-116 Template-Type: ReDIF-Article 1.0 Author-Name: Wandinecia Tariang Author-X-Name-First: Wandinecia Author-X-Name-Last: Tariang Author-Name: Eugene D. Thomas Author-X-Name-First: Eugene D. Author-X-Name-Last: Thomas Title: Poverty and Inequality in the Matrilineal Society of Meghalaya in the North-Eastern Region of India Abstract: Poverty, inequality and deprivation between men and women are some of the most crucial disparities in many societies and this is particularly so in India. Poverty status of women in particular has often received wide attention among economists and policy thinkers. Feminisation of poverty has been linked to a perceived rise in the number of female-headed households and this study is no exception in this respect. With the rise in female-headship and their vulnerability to poverty, it is typically expected that female-headed households face a higher risk of being poor vis-à-vis the male-headed households. The state of Meghalaya, in the north-eastern part of India, boasts of a predominant tribal population consisting of three major tribal groups, namely, the Khasis, the Jaintias and the Garos. These tribal groups are some of the few surviving matrilineal communities with one of the strongest matrilineal kinship systems in the world. Poverty in the state of Meghalaya, resides mainly in the rural areas. This paper makes an empirical analysis of the status of poverty and inequality among the female-headed and male-headed households in the matrilineal state of Meghalaya. Journal: Forum for Social Economics Pages: 117-138 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2018.1441047 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1441047 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:117-138 Template-Type: ReDIF-Article 1.0 Author-Name: Nkechi S. Owoo Author-X-Name-First: Nkechi S. Author-X-Name-Last: Owoo Author-Name: Monica P. Lambon-Quayefio Author-X-Name-First: Monica P. Author-X-Name-Last: Lambon-Quayefio Author-Name: Nicole Amara Onuoha Author-X-Name-First: Nicole Amara Author-X-Name-Last: Onuoha Title: Effects of Higher Spousal Earnings on Women's Social Empowerment in Ghana Abstract: Existing research shows that access to employment and earnings appears to have ambiguous effects on women’s bargaining power and subsequent empowerment. This study explores the effect of higher relative earnings by women on the likelihood of social empowerment and examines to what extent the relationship is moderated by husbands’ education levels. The 2008 and 2014 rounds of the Ghana Demographic and Health Survey are used for the analyses, and a Probit regression model, with interaction effects, is employed as a base model. In order to account for potential selectivity bias, a propensity matching technique is also employed. Findings indicated a strong positive relationship between wives’ higher earnings in Ghanaian households and a higher probability of social empowerment. The relationship appears to be moderated, to a significant extent, by partners’ education—the presence of educated husbands widens the social empowerment gap between women who earn more than their husbands and women who do not. Although the effect of differential earnings on social empowerment is smaller once selectivity was controlled for, the positive relationship is consistent. Other findings highlighted the role of various occupations, age at marriage, education, religion as contributory factors to women’s empowerment in Ghana, with attendant implications for policy. Journal: Forum for Social Economics Pages: 139-165 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2019.1627671 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1627671 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:139-165 Template-Type: ReDIF-Article 1.0 Author-Name: Quentin Wodon Author-X-Name-First: Quentin Author-X-Name-Last: Wodon Author-Name: Chata Malé Author-X-Name-First: Chata Author-X-Name-Last: Malé Author-Name: Adenike Onagoruwa Author-X-Name-First: Adenike Author-X-Name-Last: Onagoruwa Title: A simple approach to measuring the share of early childbirths likely due to child marriage in developing countries Abstract: Child marriage has large negative effects on the girls who marry early and their children, as well as communities and societies as a whole. Ending child marriage is a target under the Sustainable Development Goals, but investments to delay the age at first marriage remain limited in countries where child marriage is widespread. As part of a broader argument to make the economic case for ending child marriage, this article provides a simple approach for measuring the share of early childbirths likely due to child marriage in developing countries. This estimation matters because many of the negative impacts of child marriage on development outcomes for the girls who marry early and their children are through early childbirths—having a child before the age of 18 (for a mother), or being born of a mother younger than 18 (for a child). The estimates provided in this article suggest that most early childbirths in developing countries are likely due to child marriage. Journal: Forum for Social Economics Pages: 166-179 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2017.1311799 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1311799 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:166-179 Template-Type: ReDIF-Article 1.0 Author-Name: Nathanael Ojong Author-X-Name-First: Nathanael Author-X-Name-Last: Ojong Author-Name: Amon Simba Author-X-Name-First: Amon Author-X-Name-Last: Simba Title: Trust-Building Mechanisms in Group-Based Microfinance: A Cameroonian Perspective Abstract: While trust is critical to microlending groups, much less is known about the vital factors and mechanisms that foster its emergence in microlending groups. This paper examines the practices of trust building and use in microlending groups. The results suggest that trust is produced and developed in microlending groups through a combination of calculative, prediction, intentionality, capability and transference mechanisms. These mechanisms are not mutually exclusive but act together to build trust. Though trust has general characteristics, whether and how it is formed and developed in microlending groups depends on context-specific factors such as informal debt relations. Trust among group members is bolstered by multiplex relations of social events, neighbourhood, and friendship. The paper suggests that the unbanked population has a rich informal credit history. Journal: Forum for Social Economics Pages: 180-201 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2018.1479648 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1479648 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:180-201 Template-Type: ReDIF-Article 1.0 Author-Name: Clement Tisdell Author-X-Name-First: Clement Author-X-Name-Last: Tisdell Author-Name: Serge Svizzero Author-X-Name-First: Serge Author-X-Name-Last: Svizzero Title: The Ability in Antiquity of Some Agrarian Societies to Avoid the Malthusian Trap and Develop Abstract: This article presents a simple economic theory (and associated evidence) to explain how some early agriculturally based preindustrial societies developed despite most of their population being subject to Malthusian dynamics. Their development depended on a dominant class limiting its membership and extracting an economic surplus which it could use (among other things) to accumulate capital and advance knowledge thereby adding to this surplus. The evolution of urban centers facilitated this development process. Extraction of the agricultural surplus prevented increased population from dissipating this surplus and curtailing development. Examples are given of early economically extractive and non-inclusive societies which were long lasting. Their persistence is at odds with the views of some contemporary development economists about the development prospects of these types of societies. Journal: Forum for Social Economics Pages: 202-227 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2017.1356344 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1356344 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:202-227 Template-Type: ReDIF-Article 1.0 Author-Name: Alice Nicole Sindzingre Author-X-Name-First: Alice Nicole Author-X-Name-Last: Sindzingre Title: Drivers of Change in Global Financial Governance and Domestic Policies: A Review Essay Journal: Forum for Social Economics Pages: 228-238 Issue: 2 Volume: 49 Year: 2020 Month: 4 X-DOI: 10.1080/07360932.2019.1585273 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1585273 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:2:p:228-238 Template-Type: ReDIF-Article 1.0 Author-Name: Paolo Ramazzotti Author-X-Name-First: Paolo Author-X-Name-Last: Ramazzotti Title: Introduction Journal: Forum for Social Economics Pages: 239-240 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2020.1793077 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1793077 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:239-240 Template-Type: ReDIF-Article 1.0 Author-Name: Luiz Carlos Bresser-Pereira Author-X-Name-First: Luiz Carlos Author-X-Name-Last: Bresser-Pereira Title: Financing COVID-19, Inflation and the Fiscal Constraint Abstract: The COVID-19 pandemic is producing an economic depression that, however, could be substantially reduced if the state in each country, besides making the required health spending, compensates the companies and households that are losing with the social distance and lockdown policies. Governments, however, limit their expenditures not to increase the public debt. There is, however, the possibility that central banks buy new securities from the Treasury to finance such exceptional spending. Considering several economic constraints that policymakers face, this policy will not conflict with the inflation constraint. Money is an endogenous variable that does not cause but just validates a going inflation. It conflicts partially with the fiscal constraint, but avoids the increase in the public debt. And, in this case, it does not have the bad consequences of fiscal indiscipline—excess demand that, successively, causes increases in imports and current account deficits that appreciate the national currency, accelerate inflation, and lead to currency crises. Monetary financing of the COVID-19 will not cause any of these three evils. Journal: Forum for Social Economics Pages: 241-256 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2020.1792176 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1792176 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:241-256 Template-Type: ReDIF-Article 1.0 Author-Name: Eric A. Schutz Author-X-Name-First: Eric A. Author-X-Name-Last: Schutz Title: Planetary Eco-Collapse and Capitalism: A Contemporary Marxist Perspective Abstract: This article considers the continuing relevance of Karl Marx’s analysis of capitalism for understanding today’s on-going eco-collapse of planet Earth. Marx’s view of the relationship between natural and economic reproduction and his notion of the metabolic rift brought about by capitalism constitute a view of ecological and social destruction as codetermined. The systemic processes generating profit through competition, monopoly, the sales effort, work, and addictive consumerism destroy natural habitats, climate cycles, and the social environment. They create anomalous tipping points through increasingly extreme droughts, floods, rising sea levels, global warming, species extermination, and socially a declining quality of life, alienation and inequality. To rectify these extreme events, we need to promote systemic change through democratizing the economy, promoting alternative renewable energy resources, expanding mass and pedestrian-based transit, moving into humane urban and village-based residences, enlivening the local economy, and emphasizing environmental repair and resource recycling. Journal: Forum for Social Economics Pages: 257-280 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2018.1556177 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1556177 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:257-280 Template-Type: ReDIF-Article 1.0 Author-Name: Jon D. Wisman Author-X-Name-First: Jon D. Author-X-Name-Last: Wisman Title: Marx, the Predisposition to Reject Markets and Private Property, and Attractive Alternatives to Capitalism Abstract: Ever since capitalism came to be recognized as a new economic system, its principal institutions of private property and markets have had vociferous critics, of whom none was more wide-ranging and influential than Karl Marx. Marx claimed that not only were private property and markets critical to creating an ideological patina of freedom behind which, as in slavery and feudalism, a small class extracted from the mass of producers practically all output above that necessary for bare subsistence, they were also corrupting. Yet, Marx recognized that capitalism, unlike earlier exploitative systems, was radically dynamic, producing unprecedented wealth, while transforming not only all it inherited from the past, but also its own nature so as to eventually empower even the producers, who he believed would abandon these capitalist institutions. This article claims Marx was correct in identifying the core problem of capitalism to be its extreme inequality in the ownership and control of the means of production, but that finding fault with private property and markets has been a mistake that has impeded the generation of an attractive and viable alternative to capitalism. It concludes with an outline of an alternative which would eliminate the core problem of exploitation due to unequal ownership and control of the means of production, while retaining roles for private property and markets. It would entail two components: Guaranteed employment at living wages and democratic worker control of firms. Journal: Forum for Social Economics Pages: 281-298 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2018.1468798 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1468798 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:281-298 Template-Type: ReDIF-Article 1.0 Author-Name: Katia Caldari Author-X-Name-First: Katia Author-X-Name-Last: Caldari Title: From “Planning” to “Programming”: A Lost Opportunity for the European Project? Abstract: Economic planning developed in France soon after WWII, initially as a way to face the problems of reconstruction and then as a standard tool of French economic policy. With the establishment of the Common Market in 1958, France tried unsuccessfully to extend her indicative planning approach to the other European partners; accordingly, France adopted a particularly cautious attitude: the term “indicative planning” was substituted with the more neutral “programming” whereas several distinctive aspects of her original planning approach were relaxed or discharged. The main aim of this paper is to inquire into the consequences of this shift from planning to programming and to show how this replacement was far from being just semantic and that it involved instead important changes of substance. Journal: Forum for Social Economics Pages: 299-315 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2019.1688670 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1688670 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:299-315 Template-Type: ReDIF-Article 1.0 Author-Name: Farah Naz Author-X-Name-First: Farah Author-X-Name-Last: Naz Title: Understanding Human Well-being: How could Sen’s Capability Approach Contribute? Abstract: The division of theoretical work into two broad areas of social and economic theory kept the social and economic domains separated from each other for a long time. Sen’s major contribution in the field of economics is to resist the desocialization of economics. In capability approach (CA), Sen shifted the focus in the field of economics and development studies from an exaggerated emphasis on growth toward issues of personal well-being, agency, and freedom. However, despite having many promising features, Sen’s CA also has its own weaknesses when considered on its own. The aim of this paper was to identify the potential as well as the limits of CA for the conceptualization and assessment of human well-being. The paper concludes that in order to use CA to construct an empirically grounded assessment of well-being, one needs to adopt carefully designed procedural methods for the selection of relevant capabilities. Journal: Forum for Social Economics Pages: 316-331 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2016.1222947 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1222947 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:316-331 Template-Type: ReDIF-Article 1.0 Author-Name: Vítor Neves Author-X-Name-First: Vítor Author-X-Name-Last: Neves Title: The Theory of Social Costs of K. William Kapp: Some Notes on Sebastian Berger’s The Social Costs of Neoliberalism Abstract: In the last few years, there has been a revival of interest in the work of K. William Kapp. The recent publication of The Social Costs of Neoliberalism: Essays on the Economics of K. William Kapp, by Sebastian Berger, provides us an excellent opportunity to revisit Kapp’s work on social costs. In this short paper, I discuss three issues: (1) the definition of social costs; (2) the relationship between Kapp’s approach to social costs and neoliberalism; and, finally, (3) the valuation problem. It is expected that this may contribute to stimulate further research interest and debate on Kapp’s work. Journal: Forum for Social Economics Pages: 332-344 Issue: 3 Volume: 49 Year: 2020 Month: 7 X-DOI: 10.1080/07360932.2018.1481127 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1481127 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:3:p:332-344 Template-Type: ReDIF-Article 1.0 Author-Name: Franklin G. Mixon Author-X-Name-First: Franklin G. Author-X-Name-Last: Mixon Title: Introduction to the Symposium on the Economics of Religion Abstract: This article introduces the six essays comprising this symposium on the economics of religion. The essay by Carvalho presents an economic model highlighting the “social role” of sacrifice in religious clubs that extends the seminal research on the clubs nature of religious groups. Next, the essay by Gill demonstrates how land use restrictions by government can work to infringe upon religious liberty, and why such restrictions may be implemented by local governments. The essay by Boettke, Hall and Sheehan re-examines, in a modern empirical context, the conceptual argument of Adam Smith, that either monopoly or oligopoly in religion is productive of a dangerous religious zeal that does not exist in a society where competition in religion flourishes. The essay by Bridges and Mixon asserts that changes to the Puritan religious doctrines related to church membership represented a relatively successful market response by Puritan theologians to declining church membership and attendance in seventeenth century colonial America. The essay by Sandonà explores Pope Francis’ critique of “money idolatry,” his rejection of “trickle-down” economics, his support of inclusive institutions, and his thoughts on a movement toward a green economy. Lastly, the essay by Solari contends that reference to natural law renders the central points of liberalism—freedom and individual property—non-comparable to the equivalent notions supported by Catholicism, thus affecting the Catholic approach to capitalism manifest in various moments of the nineteenth and twentieth centuries. These essays offer a fresh, interdisciplinary view on some of the more historical and modern issues that are being investigated by researchers in this genre. Journal: Forum for Social Economics Pages: 345-356 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2018.1474373 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1474373 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:345-356 Template-Type: ReDIF-Article 1.0 Author-Name: Jean-Paul Carvalho Author-X-Name-First: Jean-Paul Author-X-Name-Last: Carvalho Title: Sacrifice and Sorting in Clubs Abstract: In club models of religion, sacrifices demanded by religious groups promote efficient production of club goods by screening out free riders. An alternative, complementary view is that religious clubs provide a means of sorting, matching individuals with similar characteristics. Sorting differs from screening in that it operates on traits that do not directly affect club goods production. This article explores the role of sacrifice in sorting among religious clubs when individuals prefer to interact with their own type. Despite this own-type bias, the usual free-rider problem in club goods production can inhibit sorting among groups. Prohibitions and demands for stigmatizing behavior can solve this problem. Costly sacrifices are demanded, not by groups catering to the majority, but by those attracting rare/exotic types. The rarer the type, the more costly the sacrifice required to achieve sorting. Journal: Forum for Social Economics Pages: 357-369 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2015.1125383 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1125383 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:357-369 Template-Type: ReDIF-Article 1.0 Author-Name: Anthony Gill Author-X-Name-First: Anthony Author-X-Name-Last: Gill Title: The Political Economy of Religious Property Rights Abstract: Religious liberty is generally thought to apply to rights of conscience. However, acting upon one’s beliefs also involves numerous other civil liberties including the right to assemble, as well as the right to own and use real estate. I assert that the successful operation and growth of religious movements requires well-specified and protected private property rights. However, in recent decades, one of the major threats to religious freedom has been an attack on the property rights of religious denominations, particularly smaller and less organized ones. In addition to common Not in my backyard complaints, I assert two additional reasons for this phenomenon: (1) the tax-exempt status of religious groups dis-incentivizes politicians from giving out building permits to congregations; and (2) the growth of private and homeschooling incentivizes politicians concerned with protecting public school funding from granting land use permits that could facilitate alternative educational facilities. Journal: Forum for Social Economics Pages: 370-391 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2015.1128347 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1128347 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:370-391 Template-Type: ReDIF-Article 1.0 Author-Name: Peter J. Boettke Author-X-Name-First: Peter J. Author-X-Name-Last: Boettke Author-Name: Joshua C. Hall Author-X-Name-First: Joshua C. Author-X-Name-Last: Hall Author-Name: Kathleen M. Sheehan Author-X-Name-First: Kathleen M. Author-X-Name-Last: Sheehan Title: Was Adam Smith Right About Religious Competition? Abstract: Adam Smith famously argued that increased competition in religion would result in more religious tolerance and that the benefits of competition in the marketplace would also be seen in religious instruction when many religious sects are tolerated. We use a cross-section of a maximum of 167 countries to explore whether increased religious competition results in less governmental regulation of religion and less governmental favoritism of religion. Our measure of religious regulation and favoritism comes from the Association of Religion Data Archives. Our empirical analysis also explores the influence of economic and political factors, including the size of the economy, openness of trade, legal origins, education, the amount of checks and balances on the government, and the role of democracy. Journal: Forum for Social Economics Pages: 392-401 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2015.1133440 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1133440 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:392-401 Template-Type: ReDIF-Article 1.0 Author-Name: Robert Shaw Bridges Author-X-Name-First: Robert Author-X-Name-Last: Shaw Bridges Author-Name: Franklin G. Mixon Author-X-Name-First: Franklin G. Author-X-Name-Last: Mixon Title: The Economics of Conversion and Salvation: An Examination of Puritanism’s Halfway Covenant Abstract: Why would Colonial America’s Puritan theologians introduce a product differentiation-related doctrinal change—the Halfway Covenant—that would lower the price of eternal salvation to many of its potential congregants (believers)? Following Hébert, Tollison, and Mixon, this study argues that the Halfway Covenant can be viewed, at least in part, as a market response by Puritan theologians to doctrinal competition—one that would increase Puritan church membership and attendance. Among the church’s competitors were Quakers and Baptists, and vocal critics within the church, such as Anne Hutchinson. Secondary competition to church doctrine was represented by so-called counter-magic, or good magic, particularly during episodes of witchcraft hysteria. Journal: Forum for Social Economics Pages: 402-413 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2015.1133439 File-URL: http://hdl.handle.net/10.1080/07360932.2015.1133439 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:402-413 Template-Type: ReDIF-Article 1.0 Author-Name: Stefano Solari Author-X-Name-First: Stefano Author-X-Name-Last: Solari Title: Roman Catholicism and the Founding Principles of Liberalism: Liberty and Private Property Abstract: Liberalism and political economy stimulated the Roman Catholic Church’s specific theoretical position in relation to social philosophy and social economics. The paper analyses encyclical letters and other papal documents, as well as the writings of other Catholic scholars, to identify the theoretical premises used to distinguish the Church’s position from liberalism. Despite some common roots and conceptual similarities, the reference to natural law renders the central points of liberalism (freedom and individual property) non-comparable to the equivalent notions supported by Catholicism, affecting the Catholic approach to capitalism manifest in various moments of the nineteenth and twentieth centuries. As compared to other religions, the defining characteristic of Catholicism is the persistence of the hierarchy’s role in defining the moral order. Despite its perceived intrusion on individual autonomy, this is also found to have some positive effects on the development of the political economy. Some microeconomic interpretation of the issues at stake is supplied. Journal: Forum for Social Economics Pages: 414-429 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2017.1402358 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1402358 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:414-429 Template-Type: ReDIF-Article 1.0 Author-Name: Luca Sandonà Author-X-Name-First: Luca Author-X-Name-Last: Sandonà Title: Francis’ Economic Thought: His Case for an Inclusive Economy Abstract: This paper examines Francis’ economic thought that is at the centre of international public debate. Francis elaborates four pillars: critique of money idolatry; rejection of the trickle-down theory; support of inclusive institutions; introduction of a green economy. My analysis points out Francis wakes up the interest for social economics because he originally communicates the philosophy behind it. In fact, Francis pointed out the necessity of a change of economics in the perspective of social values. Journal: Forum for Social Economics Pages: 430-445 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2017.1279557 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1279557 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:430-445 Template-Type: ReDIF-Article 1.0 Author-Name: Raluca Necula Author-X-Name-First: Raluca Author-X-Name-Last: Necula Author-Name: Stefan Mann Author-X-Name-First: Stefan Author-X-Name-Last: Mann Title: The Renaissance of Fasting—Evidence from a Religious Location in Europe Abstract: Considered as one of the most religious countries in Europe, Romania draws attention due to a large number of rules and prohibitions in fasting periods in terms of consumption and social behaviour. The study begins with a brief phenomenology of fasting, eventually focusing on Lent, the longest and harshest period of fasting for Romanian Orthodox Christians. The month of March is the only month of the year that usually falls entirely within the fasting period, permitting our analysis of the consumption of animal products and alcohol, products which are to be abstained from. We develop the hypothesis that the growing availability of food over time in Romania is leading to an increasing willingness to fast. Although we find clear evidence of fasting during Lent, the time trend of non-consumption is non-linear but identical for alcohol, animal products and meat. The analysis also shows affluent food supplies in the time after fasting as making fasting more attractive. The qualitative part of the study uses objective hermeneutics to illustrate and complement the statistical analysis. We conclude that the willingness to fast only emerges with a time lag after the availability of food increases, because the experience of oversupply is also an essential ingredient for making fasting an attractive option. Journal: Forum for Social Economics Pages: 446-464 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2019.1656663 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1656663 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:446-464 Template-Type: ReDIF-Article 1.0 Author-Name: Waseem Khan Author-X-Name-First: Waseem Author-X-Name-Last: Khan Author-Name: Mohammed Jamshed Author-X-Name-First: Mohammed Author-X-Name-Last: Jamshed Author-Name: Sana Fatima Author-X-Name-First: Sana Author-X-Name-Last: Fatima Author-Name: Aruna Dhamija Author-X-Name-First: Aruna Author-X-Name-Last: Dhamija Title: Determinants of Income Diversification of Farm Households’ in Uttar Pradesh, India Abstract: This article investigates the determinants of diversified income sources in farm households in Uttar Pradesh, India. Data has been collected from 220 randomly selected respondents through structured questionnaires. This study analyzed the effect of farmers’ characteristics, farm characteristics, institutional factors, and perceived climate risk on income sources diversification adopted by farm households. A logistic regression model was developed and tested based on responses collected from survey data. The findings revealed that education, family size, land size, proper infrastructure for livestock, adequate production technology, information sources, access to market, and climatic risk are significant variables affecting diversification. The implication of the study suggests that farm household needs to adopt a concentric strategy which requires policy intervention on focused research, knowledge dissemination, infrastructural development, and agricultural technical institutions setups to improve livelihood. Journal: Forum for Social Economics Pages: 465-483 Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2019.1666728 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1666728 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:465-483 Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: List of Reviewers for the Forum, 2018–2019 Journal: Forum for Social Economics Pages: I-II Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2020.1844410 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1844410 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:I-II Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: Correction Journal: Forum for Social Economics Pages: III-IV Issue: 4 Volume: 49 Year: 2020 Month: 10 X-DOI: 10.1080/07360932.2020.1821456 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1821456 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:49:y:2020:i:4:p:III-IV Template-Type: ReDIF-Article 1.0 Author-Name: John Bryan Davis Author-X-Name-First: John Bryan Author-X-Name-Last: Davis Title: The status of the concept of identity in economics Abstract: The subject of this special issue of the Forum for Social Economics is ‘Identity, Institutions, and Power.’ As an introduction and as background for how the papers in the issue address this complex subject, I briefly discuss the contested status of concept of identity in economics. Just as economics as a whole is contested in regard to its theories, goals, and methods, so is the interpretation of the concept of identity. I close with brief comments on how the papers employ the concept in connection with their analyses of economic institutions and power relationships. Journal: Forum for Social Economics Pages: 1-9 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2020.1752764 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1752764 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:1-9 Template-Type: ReDIF-Article 1.0 Author-Name: Florence Gallois Author-X-Name-First: Florence Author-X-Name-Last: Gallois Author-Name: Cyril Hédoin Author-X-Name-First: Cyril Author-X-Name-Last: Hédoin Title: From Identity to Agency in Positive and Normative Economics Abstract: This paper argues about the importance to reflect over what constitutes the identity of the economic agent, both from the perspective of positive and normative economics. Regarding the former, we suggest that several aspects of social and personal identity are essential to explain market coordination on the basis of the existence of communities. Regarding the latter, we claim that the evaluation of social states through the aggregation of individual utilities depends on a commitment over an account of who the economic agent is. Journal: Forum for Social Economics Pages: 10-26 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2017.1394897 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1394897 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:10-26 Template-Type: ReDIF-Article 1.0 Author-Name: Aurelie Charles Author-X-Name-First: Aurelie Author-X-Name-Last: Charles Title: Social Stratification in the United States: Lessons to Reconcile the Self and Others in Economic Theory and Practice Abstract: Drawing on the identity literature across social sciences, this paper investigates the nature of social stratification by identity groups in the US society as a potential cause and consequence of the Great Recession. The recent experience of the US society reflects the exacerbation of class, race and gender stratification since the 1980s. In effect, the consumerist society has reinforced the historical stratification of social identities with white men in high-paid, high-social status managerial and financial occupations at the top and black women in low-paid, low-status service occupations at the bottom. Learning from this experience, this paper calls for a deconstruction of the neoclassical individual in economic theory and policy into a representation of the individual at the unique intersection of multiple social identities changing over time and space. As such, each individual is a unique combination of evolving identities in a stratified society where the other can become part of the self. In effect, the particularity of the capitalist society is to have reduced the individual to its top identity which has led to the rejection of human diversity within the self and to the exacerbation of stratification within the society. Therefore, the paper concludes on the importance for economic actors, at the individual level, to reconcile the self and others to avoid that group behaviour overtakes resource allocation over time. Journal: Forum for Social Economics Pages: 27-39 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2017.1394898 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1394898 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:27-39 Template-Type: ReDIF-Article 1.0 Author-Name: Giuseppina Autiero Author-X-Name-First: Giuseppina Author-X-Name-Last: Autiero Author-Name: Annamaria Nese Author-X-Name-First: Annamaria Author-X-Name-Last: Nese Title: Ethnic and Academic Identity: What Role for Children’s Scholastic Effort? Abstract: Recent scholarly analysis has focussed on the role that ethnic identity plays in individual economic performances and particularly on how the identification with the culture of home and host countries influences immigrants’ and their children’s labour market outcomes. This paper focuses on the influence of ethnic and personal identity on adolescents’ scholastic effort. We partly draw on Akerlof and Kranton’s contributions in that they recognize the influence of social identity on children’s choice of effort. Nevertheless, in our model, ethnic and personal traits directly determines scholastic effort, which is in line with a strand of the psychology literature. An empirical model consistent with the theoretical one is estimated using the 1970 British Cohort Study, which contains information on how pupils see school and, hence, allows to derive an accurate measures of individual scholastic effort. It provides further useful information in order to identify relevant explanatory factors like the locus of control-characterizing personal traits—and to control for potentially confounding factors. The results corroborate the hypothesis that ethnicity and personal traits other than the socio-economic variables usually considered in the literature—play an important role in determining effort in school. Journal: Forum for Social Economics Pages: 40-60 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2017.1394899 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1394899 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:40-60 Template-Type: ReDIF-Article 1.0 Author-Name: Christopher A. Hartwell Author-X-Name-First: Christopher A. Author-X-Name-Last: Hartwell Title: Identity and the Evolution of Institutions: Evidence from Partition and Interwar Poland Abstract: This paper advances a logical, if possibly controversial, thesis: institutional design is inherently a product of identity, at both the individual and group level. Building on recent advances in identity economics and new institutional economics, this research shows how identity can be used to explain institutional genesis and the persistence of “inefficient” institutions. Applying this model to Poland in the ninnettenth and early twentieth centuries, it is evident that the identity-based institutional building which had served individuals so well under occupation in Poland resulted in “inefficient” institutions, unsuited for the changing external environment. Only taking an identity lens to the Polish experience can we see a satisfactory explanation for the failure of institutions in interwar Poland. Journal: Forum for Social Economics Pages: 61-82 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2017.1394900 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1394900 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:61-82 Template-Type: ReDIF-Article 1.0 Author-Name: Pierre Lacour Author-X-Name-First: Pierre Author-X-Name-Last: Lacour Title: Searching for a Personal Identity Capability in Narratives of Commitment in Fiction Literature Abstract: Sen’s work on commitment, rationality and social identity has given rise to an abundant literature. Building on Sen’s distinction of the fourth aspect of the self (a self able to scrutinize the reasons motivating her or his choices) and on Sen’s capability framework, Davis’ view of personal identity development hinges on a special capability, the personal identity capability. As people opt to develop this personal identity capability, they maintain an account of themselves in their interactions with others through evolving self-narratives.  In this paper, I find evidence of this personal identity capability in two self-narratives of commitment in fiction literature, that of Signoles, the main character of one of Maupassant’s short stories, Coward, and that of Sethe, a character of Morrison’s novel Beloved. Although both of these narratives remain a claim without consequences for the future development of both characters’ capabilities, they exhibit the function Davis assigns them: providing an account of changes in their personal identity these individuals undergo following a commitment or a choice implied by a commitment. Journal: Forum for Social Economics Pages: 83-107 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2018.1449761 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1449761 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:83-107 Template-Type: ReDIF-Article 1.0 Author-Name: Merve Burnazoglu Author-X-Name-First: Merve Author-X-Name-Last: Burnazoglu Title: An Identity-Based Matching Theory Approach to Integration Abstract: This paper aims to explain immigration and integration behavior in complex economic system using a framework that emphasizes social identity mechanisms. Immigration concerns individuals’ move from one society to another. Integration concerns the evolution of migrants’ identities and of consequent behaviors in the matching processes between immigrants and social groups in host countries. I suggest that we switch the basis for motivation to form matching from price to social identities and explain migrants’ interactions in host countries in individual-to-group types of interactions rather than the individual-to-individual types of interactions that standard approach employs. Thus, I propose a shift from an isolated individual economic approach through the market mechanism to an identity-based matching theory approach to integration. Journal: Forum for Social Economics Pages: 108-123 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2017.1406387 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1406387 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:108-123 Template-Type: ReDIF-Article 1.0 Author-Name: Hardy Hanappi Author-X-Name-First: Hardy Author-X-Name-Last: Hanappi Author-Name: Edeltraud Hanappi-Egger Author-X-Name-First: Edeltraud Author-X-Name-Last: Hanappi-Egger Title: Social Identity and Class Consciousness Abstract: The current economic crisis proves how deep the contradictions inherent in contemporary capitalism really are. At the same time it is evident that the financial crisis goes hand in hand with a social crisis, since an increasing number of people lost trust in governments, trade unions, and other representative institutions. A main reason why the European Left nevertheless faces severe challenges in attracting supporters seems to be an experienced loss of what has been called ‘working class identity’ in earlier times. This development has been fueled by the continuing debate on ‘identity constructions’ as proposed, e.g. by post-modernist scholars referring to ‘fluid’ and ambiguous concepts of identity and strictly denying any social categorization. So, there is a gap between the loss of working-class identity on one hand and the focus on merely social identities on the other hand. To bridge this gap the two trajectories have to be linked. Thus, it is proposed to reflect the whole discussion on ‘working class identity’ in the light of exploitation referring to classical political economy, but additionally to integrate social identity constructions by reviving the concept of alienation. Journal: Forum for Social Economics Pages: 124-151 Issue: 1 Volume: 50 Year: 2021 Month: 1 X-DOI: 10.1080/07360932.2018.1447495 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1447495 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:1:p:124-151 Template-Type: ReDIF-Article 1.0 Author-Name: Hardy Hanappi Author-X-Name-First: Hardy Author-X-Name-Last: Hanappi Author-Name: Manuel Scholz-Wäckerle Author-X-Name-First: Manuel Author-X-Name-Last: Scholz-Wäckerle Title: Evolutionary Political Economy: Content and Methods Abstract: In this paper we present the major theoretical and methodological pillars of evolutionary political economy. We proceed in four steps. Aesthetics: In chapter 1 the immediate appeal of evolutionary political economy as a specific scientific activity is described. Content: Chapter 2 explores the object of investigation of evolutionary political economy. Power: The third chapter develops the interplay between politics and economics. Methods: Chapter 4 focuses on the evolution of methods necessary for evolutionary political economy. Journal: Forum for Social Economics Pages: 157-174 Issue: 2 Volume: 50 Year: 2021 Month: 4 X-DOI: 10.1080/07360932.2017.1287748 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1287748 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:157-174 Template-Type: ReDIF-Article 1.0 Author-Name: Michael W.M. Roos Author-X-Name-First: Michael W.M. Author-X-Name-Last: Roos Title: Modeling Radical Uncertainty and Anticipating Uncertain Change with Models Abstract: In this paper, I argue that agent-based modeling and simulation in a complexity framework can be useful scientific tools to think about the uncertain future. I will argue that the usefulness of this approach depends on its capability to generate surprise and discuss what conditions are needed for surprises to happen. The main value of agent-based models and simulations is to produce possible futures. This is the anticipation function of a model. It is important to emphasize that anticipating possible futures is different from predicting the most likely future evolution of some variables and requires a different understanding of what the science of economics can achieve. Therefore, I will discuss some epistemological thoughts related to the economic study of uncertain futures. Building on these foundations, the paper presents three methodological approaches of how agent-based models and simulations could be used to anticipate potential futures. Journal: Forum for Social Economics Pages: 175-193 Issue: 2 Volume: 50 Year: 2021 Month: 4 X-DOI: 10.1080/07360932.2016.1229631 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1229631 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:175-193 Template-Type: ReDIF-Article 1.0 Author-Name: Stephanie Seguino Author-X-Name-First: Stephanie Author-X-Name-Last: Seguino Title: Inequality and Economic Stratification: Reflections on Bromley, Piketty, and Obeng-Odoom Abstract: The rise of economic inequality is a major global problem, one that economists have an important role in explaining and addressing through policy. Despite increased availability of data, our theoretical understanding of the dynamics of inequality, its persistence, and policies to address this problem remain in their infancy. The new subfield of stratification economics focuses on intergroup inequality by race and gender and offers a useful lens through which to explore the complexity of interacting systems of inequality. This article evaluates three recently published books on inequality through that lens. Journal: Forum for Social Economics Pages: 243-251 Issue: 2 Volume: 50 Year: 2021 Month: 4 X-DOI: 10.1080/07360932.2020.1864433 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1864433 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:243-251 Template-Type: ReDIF-Article 1.0 Author-Name: Alice Nicole Sindzingre Author-X-Name-First: Alice Nicole Author-X-Name-Last: Sindzingre Title: Concept and Causation: Issues in the Modelling of Institutions Abstract: The article analyses the conditions of the accurate modelling of ‘institutions’, including more realistic models such as computational ones. In particular, modelling is challenged by the composite nature of the concept of institution and the associated causations. Collective behaviour undoubtedly exhibits regularities, which are clarified by models. Yet, the concept of institution is not a unitary entity that has a stable reference across time and space and is a term in unambiguous causalities; therefore it may not be a cause or outcome that is computable from agents’ attributes and behavioural rules. Also, agents behave according to the rules that have been assigned to them by the modeller. Yet in the ‘real world’, individuals may depart from social norms without any ‘reason’ (‘rationality’): models under-address the cascade of cognitive processes that underlies the emergence of institutions and the context-dependence of their relevance for individuals. Journal: Forum for Social Economics Pages: 194-213 Issue: 2 Volume: 50 Year: 2021 Month: 4 X-DOI: 10.1080/07360932.2016.1263230 File-URL: http://hdl.handle.net/10.1080/07360932.2016.1263230 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:194-213 Template-Type: ReDIF-Article 1.0 Author-Name: Anastasia C. Wilson Author-X-Name-First: Anastasia C. Author-X-Name-Last: Wilson Title: Intersectional Occupational Crowding: Labor Market Stratification Amongst Women Workers in New Orleans Abstract: This descriptive paper examines racial and gender patterns of employment in New Orleans Louisiana using the 2018 American Communities Survey microdata in the context of the post-Katrina economy, with a focus on women workers. This paper reviews the literature on occupational crowding, and then uses a simple measure of crowding to analyze the local labor market focusing on an intersectional lens to examine patterns by race and ethnicity, gender, as well as additionally important dimensions of citizenship and age. A review of the literature shows the proliferation of these low-wage service occupations as associated with the redevelopment trajectory of New Orleans, as well as broader trends in the service economy. This paper then discusses how such a case study in the context of the “New New Orleans” can help to pose further research questions about occupational crowding, including methodologies for measurement, the relationship between crowding patterns and changes in service work, and how specific local and regional policy and redevelopment decisions shape crowding patterns. Journal: Forum for Social Economics Pages: 232-242 Issue: 2 Volume: 50 Year: 2021 Month: 3 X-DOI: 10.1080/07360932.2021.1899015 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1899015 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:232-242 Template-Type: ReDIF-Article 1.0 Author-Name: Tabitha Knight Author-X-Name-First: Tabitha Author-X-Name-Last: Knight Title: Gender and Public Spending: A Conceptual Model of Employment, an Empirical Application, and Paths for Future Work Abstract: With a focus on the role of public spending, this paper provides a comprehensive model of employment incorporating direct and indirect employment effects with both supply and demand-side determinants. While the pathways within the model function for both genders, the magnitudes of the effects differ strongly for women and men, especially in regard to public spending on infrastructure. Applying the model to data from the United States, I explore potential ramifications of public spending options in regard to gender equality in employment. Finally, detailed paths for future work are provided which aim to direct future studies so as to expand the knowledge of the implications of public policy options to improve women’s relative welfare. I conclude that connections between the economic and the social spheres cannot be ignored without significant detrimental outcomes for women’s welfare. Journal: Forum for Social Economics Pages: 214-231 Issue: 2 Volume: 50 Year: 2021 Month: 4 X-DOI: 10.1080/07360932.2018.1441048 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1441048 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:214-231 Template-Type: ReDIF-Article 1.0 Author-Name: Torsten Heinrich Author-X-Name-First: Torsten Author-X-Name-Last: Heinrich Author-Name: Claudius Gräbner Author-X-Name-First: Claudius Author-X-Name-Last: Gräbner Title: Introduction to the symposium “The Complexity of Institutions: Theory and Computational Models” Journal: Forum for Social Economics Pages: 153-156 Issue: 2 Volume: 50 Year: 2021 Month: 4 X-DOI: 10.1080/07360932.2020.1752765 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1752765 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:2:p:153-156 Template-Type: ReDIF-Article 1.0 Author-Name: Elias Jabbour Author-X-Name-First: Elias Author-X-Name-Last: Jabbour Author-Name: L. F. de Paula Author-X-Name-First: L. F. Author-X-Name-Last: de Paula Title: Socialization of Investment and Institutional Changes in China: A Heterodoxy Approach Abstract: In this paper, we show that economic development in China can be analyzed by the cyclical emergence of institutions that delimit a continuous reorganization of activities between the State and private sectors in the economy. For this purpose, we develop a ‘developmentalist approach’—based on the contributions of John M. Keynes, Alexander Gerschenkron, Ignacio Rangel and Albert Hirschman—that aims at understanding the formation of a policy space suitable for the socialization of investment in China under an international environment characterized by the financial globalization. Journal: Forum for Social Economics Pages: 316-329 Issue: 3 Volume: 50 Year: 2021 Month: 7 X-DOI: 10.1080/07360932.2020.1747517 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1747517 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:316-329 Template-Type: ReDIF-Article 1.0 Author-Name: Zhi Wang Author-X-Name-First: Zhi Author-X-Name-Last: Wang Author-Name: Lefteris Giovanis Author-X-Name-First: Lefteris Author-X-Name-Last: Giovanis Title: China Special Issue A Introduction: Economic Growth, Social Policy, and Technological Development Abstract: China’s rapid economic development has attracted the interest of many scholars following its emergence as the world’s second largest economy and stimulated research into the underlying factors that may have made this development difficult to overlook. In advancing research, papers included in Issue A help with refining our understanding of the forces that have been driving China’s social-economic, political, and technological developments, addressing the related issues, thus, advancing the social economic literature in its influence in the world, specifically, within the China context. Journal: Forum for Social Economics Pages: 253-256 Issue: 3 Volume: 50 Year: 2021 Month: 7 X-DOI: 10.1080/07360932.2020.1841666 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1841666 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:253-256 Template-Type: ReDIF-Article 1.0 Author-Name: Lorenzo Compagnucci Author-X-Name-First: Lorenzo Author-X-Name-Last: Compagnucci Author-Name: Dominique Lepore Author-X-Name-First: Dominique Author-X-Name-Last: Lepore Author-Name: Francesca Spigarelli Author-X-Name-First: Francesca Author-X-Name-Last: Spigarelli Title: Exploring the Foreign Exposure of Chinese Science Parks in a Triple Helix Model Abstract: This exploratory study sheds light on the role of Chinese science parks (SPs) in fostering the foreign exposure of the actors of a Triple Helix Model (THM) for innovation. Linking the Chinese ‘Go Global’ strategy to the SPs policy, a conceptual model is developed on the basis of the existing literature. The model is applied by analysing the modes of international exposure of 14 SPs. The paper finds that Chinese policy makers have widely established SPs to become key drivers for domestic technology transfer under the control of the government. On the other hand, China still lags behind advanced countries in most areas of the technology industry. Indeed, innovation is a complex process, which also implies international links. Nevertheless, the majority of SPs do not provide evidence of linking THM actors to the foreign context. Zhongguancun Science Park and Yangling Agricultural Hi-tech Industries Demonstration Zone provide interesting insights regarding a variety of international modes which may be replicable to foster the innovation capacity of the country. Journal: Forum for Social Economics Pages: 330-354 Issue: 3 Volume: 50 Year: 2021 Month: 7 X-DOI: 10.1080/07360932.2020.1759440 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1759440 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:330-354 Template-Type: ReDIF-Article 1.0 Author-Name: Shuanping Dai Author-X-Name-First: Shuanping Author-X-Name-Last: Dai Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Shrinking Trust in Growing China: A Trade-Off Between Fast Growth, Change and Institutionalized Cooperation? Abstract: Emergence and growth, or deterioration, of general trust, endogenously depend on socio-economic transformations. This paper attempts to explain a shrinking general trust in China, against the background of its ‘reform-opening up’ phase, by means of repeated prisoners’ dilemma games on networks. We find that the more anonymous large-scale interaction arenas for immigrants in the boom regions, where lack of new, more appropriate network structures for them to substitute their lost rural home networks, resulted in higher uncertainty, integration failure, and less trust and cooperation. The general increase of social and geographical distance may have driven China from an ‘acquaintance society’ to a ‘stranger society’ with a lower general trust and institutionalized cooperation. A network model that addresses the interaction ‘deep structure’ of the socio-economy then may provide a potential strategic option for China to recover earlier high general trust. Journal: Forum for Social Economics Pages: 297-315 Issue: 3 Volume: 50 Year: 2021 Month: 7 X-DOI: 10.1080/07360932.2020.1747516 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1747516 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:297-315 Template-Type: ReDIF-Article 1.0 Author-Name: Alicia Girón Author-X-Name-First: Alicia Author-X-Name-Last: Girón Title: Obituary Eugenia Correa Journal: Forum for Social Economics Pages: 355-356 Issue: 3 Volume: 50 Year: 2021 Month: 5 X-DOI: 10.1080/07360932.2021.1928528 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1928528 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:355-356 Template-Type: ReDIF-Article 1.0 Author-Name: Franklin Obeng-Odoom Author-X-Name-First: Franklin Author-X-Name-Last: Obeng-Odoom Title: Afro-Chinese Labour Migration Abstract: Labour migration is, perhaps, the most widely discussed economic issue today. Yet, its underpinning theory and its empirical tests have remained largely Western-centric. In turn, the causes, effects, and policy options for the substantial, but widely neglected, Afro-Chinese labour migration, are poorly understood. By systematising existing data, this article shows that Afro-Chinese labour migration experience is far more complex than what neoclassical economics suggests. Driven, or, at least moulded, not so much by the migrant as a rational utility-maximising individual but by holistic processes of ‘circular, combined and cumulation causation’, Afro-Chinese migration, and Afro-Chinese relations, more generally, have contributed to economic growth, but at the cost of much socio-spatial displacement, and socio-ecological degradation. Added to these social costs is widespread labour exploitation. So, the insidious attempts by the state, business enterprise, corporate finance, and capital to consider migration as a ‘spatial fix’ for economic growth are questionable. Seeking to wall out migrants, embarking on widespread surveillance, pursuing migrant scape-goating, and framing migration as a Malthusian problem are, however, not a panacea. The social costs of migration need to be directly redressed, among others, by redesigning the institutions that shape the conditions of labour. Doing so would require leaving behind neoclassical economics theories of migration and exposing their vested interests. Social economics theories and theorising that more comprehensively address the labour migration problematique and strongly emphasise the coupling of migration, economic, and social policy can usefully be considered as alternatives. Journal: Forum for Social Economics Pages: 276-296 Issue: 3 Volume: 50 Year: 2021 Month: 7 X-DOI: 10.1080/07360932.2020.1724554 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1724554 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:276-296 Template-Type: ReDIF-Article 1.0 Author-Name: Nikolaos Karagiannis Author-X-Name-First: Nikolaos Author-X-Name-Last: Karagiannis Author-Name: Moula Cherikh Author-X-Name-First: Moula Author-X-Name-Last: Cherikh Author-Name: Wolfram Elsner Author-X-Name-First: Wolfram Author-X-Name-Last: Elsner Title: Growth and Development of China: A Developmental State ‘With Chinese Characteristics’ Abstract: The aim of the paper is twofold: 1. to examine the identities and differences of the Chinese model of the developmental and entrepreneurial state ‘with Chinese characteristics’ with the general East Asian developmental state model, and 2. to derive some perspectives for the future of the particular Chinese model of the developmental state. The paper is structured as follows. The first main section briefly discusses China’s growth performance and policies since World War II with respect to the country’s development efforts. Subsequent sections analyse aspects of the particular economic development framework of China, based on an interventionist heterodox developmental state argument, and describe some critical development policy areas that emanate from such an argument—placing great emphasis on industrial targeting—while taking the country’s socio-cultural and politico-institutional traits into consideration. Some conclusions end the paper. Journal: Forum for Social Economics Pages: 257-275 Issue: 3 Volume: 50 Year: 2021 Month: 7 X-DOI: 10.1080/07360932.2020.1747515 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1747515 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:3:p:257-275 Template-Type: ReDIF-Article 1.0 Author-Name: Peterson K. Ozili Author-X-Name-First: Peterson K. Author-X-Name-Last: Ozili Title: Financial inclusion research around the world: A review Abstract: This paper provides a comprehensive review of the recent evidence on financial inclusion from all the regions of the World. It identifies the emerging themes in the financial inclusion literature as well as some controversy in policy circles regarding financial inclusion. In particular, I draw attention to some issues such as optimal financial inclusion, extreme financial inclusion, how financial inclusion can transmit systemic risks to the formal financial sector, and whether financial inclusion and exclusion are pro-cyclical with changes in the economic cycle. The key findings in this review indicate that financial inclusion affects, and is influenced by, the level of financial innovation, poverty-levels, the stability of the financial sector, the state of the economy, financial literacy, and regulatory frameworks which differ across countries. Finally, the issues discussed in this paper opens up several avenues for future research Journal: Forum for Social Economics Pages: 457-479 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2020.1715238 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1715238 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:457-479 Template-Type: ReDIF-Article 1.0 Author-Name: Yan Liang Author-X-Name-First: Yan Author-X-Name-Last: Liang Title: Functional Income Distribution, Demand Driven Growth and the Middle Income Trap: The Case of China Abstract: It is critical for China to develop its domestic market demand and to engage in technological innovations to escape the Middle Income Trap. However, evidence suggests that China has been experiencing rising functional income inequality, manifested in the declining labor share in national income until very recently. The paper argues that functional inequality contributes to worsening income inequality. This in turn reduces average consumption propensity and dampens the consumption share of GDP. Further, the ‘market effect’ of income inequality could be more pronounced than the ‘price effect’, disincentivizing further innovations. Therefore, to gain growth momentum and graduate from the MIT, China must address functional income inequality through policy measures. Journal: Forum for Social Economics Pages: 386-397 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2020.1787186 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1787186 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:386-397 Template-Type: ReDIF-Article 1.0 Author-Name: Benjamin Wilson Author-X-Name-First: Benjamin Author-X-Name-Last: Wilson Author-Name: Neal Wilson Author-X-Name-First: Neal Author-X-Name-Last: Wilson Author-Name: Sierra Martin Author-X-Name-First: Sierra Author-X-Name-Last: Martin Title: Using GIS to Advance Social Economics Research: Geocoding, Aggregation, and Spatial Thinking Abstract: The political, social, and economic conditions which lead to inequality, poverty, and health disparities have distinct spatial footprints. Geographic information systems (GIS) are a collection of tools that can aid the social economist in the investigation of such phenomena. Geocoding is a technical procedure that matches attribute data to spatial features in GIS. This analysis of social economy discusses the possibilities of spatial analysis and the technical process of geocoding. Using 15 years of address level pediatric data from a local children’s hospital, a novel iterative geocoding process is applied for the purpose of investigating the relationship between household environments and health outcomes. This procedure adheres to traditional standards for geocoding (positional accuracy, completeness, and repeatability) while producing multiple spatial data sets that can be associated with a range of environmental and socioeconomic variables related to human health. Describing this technical procedure contributes to a growing methodological toolbox for applying GIS to research in social economics. Journal: Forum for Social Economics Pages: 480-504 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2018.1509798 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1509798 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:480-504 Template-Type: ReDIF-Article 1.0 Author-Name: Anita Pelle Author-X-Name-First: Anita Author-X-Name-Last: Pelle Author-Name: András London Author-X-Name-First: András Author-X-Name-Last: London Author-Name: Éva Kuruczleki Author-X-Name-First: Éva Author-X-Name-Last: Kuruczleki Title: The European Union: A Dynamic Complex System of Clubs Comprised by Countries Performing a Variety of Capitalism Abstract: The EU can be regarded as a club where integration is the main club good. For decades, club convergence applied; however, currently there is insufficient level of convergence. The club theory approach becomes increasingly significant with Brexit and the remaining EU-27 heading towards a multi-speed Europe. Overall, the economy of the EU constructs a complex system implying the existence of sub-systems: clubs within the club. Dynamism is an inherent feature of the system. There are outside effects as well as factors influencing the system from inside, many of the latter rooting in the various capitalism models of the member states. In this work we analyse how the varieties of capitalism is related to convergence and complexity in the EU. In this context, the EU is an entity interpreted as a dynamic complex system of clubs comprised by countries performing a variety of capitalism. Journal: Forum for Social Economics Pages: 530-552 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2019.1601121 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1601121 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:530-552 Template-Type: ReDIF-Article 1.0 Author-Name: Zhi Wang Author-X-Name-First: Zhi Author-X-Name-Last: Wang Author-Name: Lefteris Giovanis Author-X-Name-First: Lefteris Author-X-Name-Last: Giovanis Title: China Special Issue B Introduction: Cultural Distance, Households, Innovation, and Cultural Industry Abstract: Special Issue B continues to address a set of research questions to complement Special Issue A which focused on China’s rapid economic growth and the associated challenges. Examples discussed include unbalanced domestic growth, Africa-China migration, a game theoretic perspective on cooperation, and industry structure and policy changes. Critically, Issue B identifies opportunities as well as uncertainties for Chinese enterprises and institutions in their quest to become the world’s leading economy. Specifically, papers examine issues related to the China Multinational Corporations (CMNC), workforce mobility, technological innovation, and the economic development of cultural industry, specifically, the film industry, all of which are having a profound impact on China’s economic landscape. Their research focus includes: CMNC sociocultural distance and its impact on cross-border replication of activities; socio-political decisions in relation to innovation efficiency; the ‘middle-income trap’ and its effect on workforce mobility and ‘functional inequality’. The frameworks, models, and theories discussed in these papers should help scholars to gain a better understanding of some of the social determinants of economic decisions as they relate to China’s economic development. Journal: Forum for Social Economics Pages: 357-362 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2020.1838937 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1838937 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:357-362 Template-Type: ReDIF-Article 1.0 Author-Name: Zhi Wang Author-X-Name-First: Zhi Author-X-Name-Last: Wang Author-Name: Bo Zhou Author-X-Name-First: Bo Author-X-Name-Last: Zhou Author-Name: Stuart Horsburgh Author-X-Name-First: Stuart Author-X-Name-Last: Horsburgh Title: Cultural Distance and Cross-Border Replication of China Multinational Corporations Abstract: The growing research interest in sociocultural issues in relation to global economic activity motivates this article to postulate a set of behavioural mechanisms that contribute to the debate on cultural distance and Multinational Corporations (MNC) cross-border replication production of economic activity. The empirical tests draw on a data base comprising 289 managers (R&D and product development professionals) employed by China MNC (CMNC) subsidiaries operating across 150 countries. First, the results reveal a negative relationship between cultural distance and CMNC cross-border replication. Second, the negative coefficients are moderated by social norms, reciprocity, and prosocial behaviours in cooperation. Finally, in using the moderator and mediator in the analysis, the results demonstrate that the mediator variables (capacity for cross-cultural adaptation, and language) positively lead to CMNC replication, and subsidiary operating years and managerial experience significantly moderate cultural distance. The findings support the model that contributes to the extant literature by demonstrating sociocultural determinants of economic growth. Journal: Forum for Social Economics Pages: 363-385 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2020.1787857 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1787857 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:363-385 Template-Type: ReDIF-Article 1.0 Author-Name: Raghu Bir Bista Author-X-Name-First: Raghu Bir Author-X-Name-Last: Bista Title: Grasping Climate Vulnerability in Western Mountainous Nepal: Applying Climate Vulnerability Index Abstract: This study examines the relationship among the magnitude of climate vulnerability, location, and altitude of the catchment areas of Sot Khola subwater basin in western mountainous Surkhet, Nepal, by building Climate Vulnerability Index (CVI) and by using clusters based on the primary data sources. A household survey covering adaptive, sensitive, and exposure levels was conducted in 642 households of the catchment areas for the primary data set. The study has built the CVI of Sot Khola subwater basin’s catchment areas, which provides sufficient evidence of heterogeneity in vulnerabilities of households across locations and altitude of the catchment areas. In all clusters, all households are vulnerable at different levels. About 69% households in all clusters are vulnerable, and of them 31% households are highly vulnerable. The lower cluster of the catchment areas (Lekhagaon and Kunathari) are more vulnerable than the upper cluster of the catchment areas (Gadhi), except the lower cluster of Gadhi. Therefore, the altitude and magnitude of climate change vulnerability have negative correlation in case of water-induced disasters. In case of climate change vulnerability, households’ socioeconomic characteristics and magnitude of climate change vulnerability have also negative correlation. Journal: Forum for Social Economics Pages: 553-568 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2019.1619607 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1619607 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:553-568 Template-Type: ReDIF-Article 1.0 Author-Name: Nursel Aydiner-Avsar Author-X-Name-First: Nursel Author-X-Name-Last: Aydiner-Avsar Author-Name: Chiara Piovani Author-X-Name-First: Chiara Author-X-Name-Last: Piovani Title: The Gender Impact of Unemployment on Mental Health: A Micro Analysis for the United States Abstract: In the last thirty years, in the context of structural changes in the global economy, mental health has become a major public health concern worldwide. Using the National Health Interview Survey (NHIS) data for 2013 and 2014, this article evaluates the relationship between the labor market and psychological well-being in the United States from a gender perspective. More specifically, this article uses a logit regression methodology to estimate the impact of unemployment on the likelihood of developing depression and anxiety for both men and women. The findings of this analysis indicate that unemployment has a similar, negative effect on the mental health of both men and women. This is consistent with the predictions of the dual breadwinner model, on the basis of which both men and women shoulder the financial responsibilities of the household, and is relevant for policy considerations. Journal: Forum for Social Economics Pages: 505-529 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2018.1535991 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1535991 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:505-529 Template-Type: ReDIF-Article 1.0 Author-Name: Simplice A. Asongu Author-X-Name-First: Simplice A. Author-X-Name-Last: Asongu Author-Name: Uchenna R. Efobi Author-X-Name-First: Uchenna R. Author-X-Name-Last: Efobi Author-Name: Ibukun Beecroft Author-X-Name-First: Ibukun Author-X-Name-Last: Beecroft Title: Aid in Modulating the Impact of Terrorism on FDI: No Positive Thresholds, No Policy Abstract: We investigate how foreign aid dampens the effects of terrorism on FDI using interactive quantile regressions. The empirical evidence is based on 78 developing countries for the period 1984–2008. Bilateral and multilateral aid variables are used, while terrorism dynamics entail: domestic, unclear, transnational and total number of terrorist attacks. The main finding is that foreign aid cannot be used as a policy tool to effectively address a hypothetically negative effect of terrorism on FDI. The positive threshold we cannot establish is important for policy makers because it communicates a cut-off point at which foreign aid completely neutralizes the negative effect of terrorism on FDI. From the conditioning information set, we also establish for the most part that the effects of GDP growth, infrastructural development and trade openness are an increasing function of FDI. Policy implications are discussed. Journal: Forum for Social Economics Pages: 432-456 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2018.1434676 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1434676 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:432-456 Template-Type: ReDIF-Article 1.0 Author-Name: Jan Fransen Author-X-Name-First: Jan Author-X-Name-Last: Fransen Title: Lock-in and New Path Development of China Commodity City: The Role of Policies Abstract: China Commodity City (Yiwu) has evolved from a poor, isolated region into one of the world largest mass-producers of low-tech products. This study applies the concept of path dependence in order to trace Yiwu’s industrial development trajectory. It zooms in on factors leading towards lock in, path extension and path creation. The study identifies multiple factors leading towards a lock-in and possible path decay. At the same time, related diversification and industrial policies such as the China Belt and Road Initiative enable path extension. New path creation is however less likely in the nearby future. While China moves towards a knowledge economy, innovation policies in Yiwu have not yet been successful, as they don’t specifically target low-tech family firms, implementation capacity is limited, instruments are not well targeted and institutional incentives are diffuse. To create an alternative innovation-driven industrial pathway, the study recommends landscape pressure and multilevel experimentation. Journal: Forum for Social Economics Pages: 398-413 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2020.1804432 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1804432 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:398-413 Template-Type: ReDIF-Article 1.0 Author-Name: James McMahon Author-X-Name-First: James Author-X-Name-Last: McMahon Title: Selling Hollywood to China Abstract: From the 1980s to the present, Hollywood’s major distributors have been able to redistribute U.S. theatrical attendance to the advantage of their biggest blockbusters and franchises. At the global scale and during the same period, Hollywood has been leveraging U.S. foreign power to break ground in countries that have historically protected and supported their domestic film culture. For example, Hollywood’s major distributors have increased their power in such countries as Mexico, Canada, Australia and South Korea. This paper will analyze a pertinent ‘test case’ for Hollywood’s global power: China and its film market. Not only does China have a film-quota policy that restricts the number of theatrical releases that have a foreign distributor (∼20 to 34 films per year), the Communist Party has helped the Chinese film business grow to have steady film releases and its own movie star system. Theoretically, China would be a prime example of a film market that would need to be opened with the assistance of the U.S. government. Empirically, however, the case of Chinese cinema might be a curious exception; we can investigate how a political economic strategy rooted in explicit power is reaching a limit. Hollywood is, potentially without any other option, taking a more friendly, collaborative approach with China’s censorship rules and its quota and film-production laws. Journal: Forum for Social Economics Pages: 414-431 Issue: 4 Volume: 50 Year: 2021 Month: 10 X-DOI: 10.1080/07360932.2020.1800500 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1800500 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:50:y:2021:i:4:p:414-431 Template-Type: ReDIF-Article 1.0 Author-Name: William Waller Author-X-Name-First: William Author-X-Name-Last: Waller Title: A Reconsideration of William Dugger’s Analysis of Power Abstract: In 1980, William Dugger published an article entitled “Power: An Institutional Framework of Analysis.” In doing so, he was following a long tradition in social and institutional economic analysis. This framework is the foundation for a good portion of Dugger’s later work and is a major theoretical achievement in institutional economics. This article will examine Dugger’s theoretical development of power. Dugger’s framework begins as a method of analysis that is built on a theory of power in general: that power is discretion exercised by individuals within the context of the roles they occupy in social institutions. Dugger initially applies this to a particular context—the US corporate economy of the 1980s. Later work by Dugger considers the exercise of power in other contexts. This later work provides insight into the ability of his framework of analysis to comprehend the situating of power in other specific historical contexts. Journal: Forum for Social Economics Pages: 95-111 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2017.1370603 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1370603 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:95-111 Template-Type: ReDIF-Article 1.0 Author-Name: Samuel Rosenberg Author-X-Name-First: Samuel Author-X-Name-Last: Rosenberg Title: The ‘Administered Labor Market’ Reconsidered Abstract: This article examines the continued relevance of William Dugger’s theory of the ‘Administered Labor Market’ written in the early 1980s. The white-collar ‘administered labor market’ of the ‘old economy’ continues to exist alongside the more ‘market-oriented’ labor markets of the ‘new economy’. While long-term employment relationships are somewhat less common, white-collar workers still build their careers primarily through promotions within their companies rather than by changing firms. While contingent compensation is more prevalent, wage structures are still relatively rigid particularly in larger, older firms. The changes which have occurred in ‘administered labor markets’ are more ‘matters of degree’ than ‘matters of kind’. Journal: Forum for Social Economics Pages: 112-129 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2018.1458328 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1458328 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:112-129 Template-Type: ReDIF-Article 1.0 Author-Name: Alexander Dunlap Author-X-Name-First: Alexander Author-X-Name-Last: Dunlap Title: From Primitive Accumulation to Modernized Poverty: Examining Flush toilets through the Four Invaluation Processes Abstract: This paper examines the normalized power and social effects of flush-toilets. Beginning by laying a theoretical foundation with the concepts of structural violence, primitive accumulation, and modernized poverty, the section continues by outlining William Dugger’s four invaluation processes as a framework of approach. Then, a brief history of flush-toilets is sketched before applying the four invaluation processes: contamination, subordination, emulation, and mystification. Flush-toilets are a complex infrasystem that appear to have a surreptitious organizational, social, and ecological effect that is compounded by some of the formulations and practices within the development industry. Notably with the United Nation “sanitation ladder,” Gary White and Matt Damon’s NGO Water.org and Damon’s subsequent “toilet strike.” Providing a reassessment of the social power inherent in flush-toilets, this paper contends that the flush-toilet infrasystem is an accomplice in infrastructural violence and can also be seen as aiding a strategy of primitive accumulation. Journal: Forum for Social Economics Pages: 130-149 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2017.1387864 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1387864 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:130-149 Template-Type: ReDIF-Article 1.0 Author-Name: Phillip Anthony O’Hara Author-X-Name-First: Phillip Anthony Author-X-Name-Last: O’Hara Title: Merging Dugger’s Concepts with O’Hara’s Principles to Advance Social and Institutional Economics Abstract: The purpose of this paper is to situate, reconstruct, summarise and provide some research guidelines for advancing the scientific study of William M. Dugger’s concepts of social and institutional economics. We start by examining the nature of Dugger’s concepts and how we can dissect Dugger’s concepts with the aid of Phillip O’Hara’s principles. Then in the bulk of the paper we, firstly, contextualise these Duggerian concepts that have a direct bearing on the rule or principle of (A) Historical Specificity and the temporal dimensions of socioeconomic processes: including the concepts of realism; historical time; evolution; blind drift; plus the community’s joint stock of knowledge. Secondly, we scrutinise those concepts that link directly to the principle of (B) Circular and Cumulative Causation: concepts of interdependency, amplified dynamics, and virtuous and vicious cycles and uneven developments. Thirdly, we examine those Duggerian concepts that are associated with the principle of (C) Heterogeneous Groups and Agents: equality, gender, ethnicity, class, nationality and enabling myths. This is followed, fourthly, by a discussion of those concepts that link to the principle of (D) Contradictory Processes in the social and political economy: Dugger’s concepts of power; hegemony; vested interests versus the common good; instrumental and ceremonial functions of institutions; emulation and conspicuous consumption; plus vesting, entrenching and faking. Fifthly, the principle of (E) Ethics and Policy is correlated with the Duggerian concepts of social provisioning; participatory democracy; democratic planning; and abundance. A conclusion follows with some ideas for future research on these principles and concepts of social and institutional economics. Journal: Forum for Social Economics Pages: 9-40 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2018.1467332 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1467332 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:9-40 Template-Type: ReDIF-Article 1.0 Author-Name: William M. Dugger Author-X-Name-First: William M. Author-X-Name-Last: Dugger Title: The Inclusive, Social Economic Point of View: Foreword to ‘The Doleful Dynamics of Competition: Inequality and Fakery in Modernity’ Journal: Forum for Social Economics Pages: 41-42 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2017.1392334 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1392334 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:41-42 Template-Type: ReDIF-Article 1.0 Author-Name: Ahmet Öncü Author-X-Name-First: Ahmet Author-X-Name-Last: Öncü Title: Turkish Social Political Economy History in the Light of Dugger’s Reconstructed Concepts of Veblenian Institutionalism Abstract: As part of his quest to bring radicalism back into institutionalism, William M. Dugger has not only corrected the revisions made in Veblen’s original anarchist–socialist scheme after his death, but also produced a compelling social and political economy perspective that would conceive of capitalism as a mode of social provisioning run according to power and status, rather than price movements in the market. This paper attempts to contextualize Dugger’s reconstruction of the Veblenian dichotomy and Veblen’s radical institutionalism by focusing on the case of the politicization of engineers in Turkey in the 1960s and the 1970s. Journal: Forum for Social Economics Pages: 65-94 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2018.1458327 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1458327 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:65-94 Template-Type: ReDIF-Article 1.0 Author-Name: William M. Dugger Author-X-Name-First: William M. Author-X-Name-Last: Dugger Title: The Doleful Dynamics of Competition: Inequality and Fakery in Modernity Abstract: The article outlines a general theory of the dynamics of competition. On-going competition generates unhappiness and inequality in spite of economic growth. The circular and cumulative processes involved include vesting and entrenching, the unfair ways and means that are used to succeed and to secure future success. The competitive process also encourages shirking responsibility for the social costs of private gains. As competition continues, fake institutions evolve that hide the iniquities, thereby reinforcing the folly of competition. Journal: Forum for Social Economics Pages: 43-64 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2017.1374196 File-URL: http://hdl.handle.net/10.1080/07360932.2017.1374196 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:43-64 Template-Type: ReDIF-Article 1.0 Author-Name: Phillip Anthony O’Hara Author-X-Name-First: Phillip Anthony Author-X-Name-Last: O’Hara Title: Introduction to the special issue: William M. Dugger’s concepts of social and institutional economics Abstract: William M. Dugger’s contributions to social and institutional economics are critically evaluated, reconstructed, summarized, and applied to various problems and issues in this special issue. This short paper introduces the special issue and summarizes the papers included here. It explains how Phillip O’Hara’s paper merges Dugger’s concepts with O’Hara’s principles in order to situate, reconstruct, and summarize the concepts. It summarizes William M. Dugger’s paper, where the concepts of vesting, entrenching, shirking, and faking are applied to the negative impact of competition on the quality of life and socioeconomic performance of modern capitalism. It describes how Ahmet Öncü applies some of Dugger’s concepts to the role of engineers in Turkey through attempts to promote the community’s joint stock of knowledge and the common good. It outlines William Waller’s discussion of Dugger’s concepts of power and hegemony, and the theoretical and methodological contributions Dugger makes to these concepts. It surveys Samuel Rosenberg’s paper, which explains the continuing relevance of Dugger’s concept of the administered labor market. And it sketches Alexander Dunlap’s analysis of Dugger’s four invaluation processes vis-à-vis the medical, ecological, and economic anomalies with flush toilet infra-systems. A conclusion follows. Journal: Forum for Social Economics Pages: 1-8 Issue: 1 Volume: 51 Year: 2022 Month: 1 X-DOI: 10.1080/07360932.2018.1497522 File-URL: http://hdl.handle.net/10.1080/07360932.2018.1497522 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:1:p:1-8 Template-Type: ReDIF-Article 1.0 Author-Name: The Editors Title: Correction Journal: Forum for Social Economics Pages: 252-252 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2020.1831842 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1831842 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:252-252 Template-Type: ReDIF-Article 1.0 Author-Name: Guido Giarelli Author-X-Name-First: Guido Author-X-Name-Last: Giarelli Title: The European Health Systems Facing the Covid-19 Outbreak: A Macro-Regional Approach Abstract: The article proposes the concept of ‘health macro-region’ as a comprehensive contextual framework for comparative analysis of European health systems beyond the conventional ‘methodological nationalism’ in comparative research based on national analyses. The impact of the Covid-19 pandemic in five European health macro-regions is then examined by an analysis of the epidemiological data to assess whether there have been significant differences in the incidence of the pandemic, assuming some structural connections with the responses given by the different health care systems. The significant inter-regional variations detected confirm the heuristic validity of the concept of ‘health macro-region’ but, at the same time, reveal equally significant intra-regional variations highlighted by the coefficients of variation. Journal: Forum for Social Economics Pages: 161-174 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2021.1968468 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1968468 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:161-174 Template-Type: ReDIF-Article 1.0 Author-Name: Vladimir Hlasny Author-X-Name-First: Vladimir Author-X-Name-Last: Hlasny Author-Name: Shireen AlAzzawi Author-X-Name-First: Shireen Author-X-Name-Last: AlAzzawi Title: Last in After COVID-19: Employment Prospects of Youths during a Pandemic Recovery Abstract: How is the evolving COVID crisis affecting workers’ employment outcomes? Using the ERF COVID-19 MENA Monitors for Egypt and Jordan (July ‘20–September ‘21), we estimate probabilistic models of workers’ employment statuses and of their job loss. We confirm that the stringency of COVID regimes affects negatively employment and labor participation, particularly among youths, even if they were not disadvantaged before. Workers’ preexisting status affects their outcome amid COVID, implying strong state dependence of employment. Those laid off amid COVID are predominantly those without formal employment before the pandemic. During the easing of COVID regimes between the fall of 2020 and mid-2021, men’s employment prospects gradually improved, but women experienced a stagnation by being largely excluded from work opportunities irrespective of COVID developments. Youths of both genders are affected more adversely than non-youths during the pandemic, face higher risks of getting laid off, and lower prospects of becoming employed—supporting the ‘last in’ hypothesis. Journal: Forum for Social Economics Pages: 235-244 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2022.2052738 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2052738 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:235-244 Template-Type: ReDIF-Article 1.0 Author-Name: Robert W. Dimand Author-X-Name-First: Robert W. Author-X-Name-Last: Dimand Author-Name: Kojo Saffu Author-X-Name-First: Kojo Author-X-Name-Last: Saffu Title: Economic Inequality and Rural Entrepreneurship: Polly Hill on Rural Capitalism in West Africa Abstract: The relationship between economic inequality and entrepreneurship has received the attention of scholars who have advised researchers to ‘use new data and seek new methods to study economic inequality.’ We examine a neglected source of such data and methods, Polly Hill’s The Migrant Cocoa-Farmers of Southern Ghana (1963) and Studies in Rural Capitalism in West Africa (1970), which stressed the agency of rural entrepreneurs. According to Hill, economic inequality is synonymous with rural tropical economies. Hill highlights inequality between richer and poorer farmers ignored by development economists. Her approach was cross-disciplinary, with an economics BA and anthropology PhD (supervised by economist Joan Robinson). She was a fellow in African Studies in Ghana and reader in Commonwealth Studies at Cambridge. In keeping with Hill’s cross-disciplinarity, this paper is jointly written by an economist and by an entrepreneurship professor. Journal: Forum for Social Economics Pages: 245-251 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2022.2056225 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2056225 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:245-251 Template-Type: ReDIF-Article 1.0 Author-Name: Guillem López Casasnovas Author-X-Name-First: Guillem Author-X-Name-Last: López Casasnovas Author-Name: Héctor Pifarré i Arolas Author-X-Name-First: Héctor Author-X-Name-Last: Pifarré i Arolas Title: Health Care Systems: Organization and Response to COVID-19 with a Focus on Spain Abstract: This paper offers an overview of defining traits of national health care systems, and remarks on how to evaluate their performance in the current COVID-19 crisis. Beyond a description of the different health care provision schemes, we offer a critical review of some of the key considerations to account for in evaluating the performance of national health care systems during the pandemic. The text is organized in three parts. Part 1 provides an overview of the classification of international health care systems, and the role of the public sector in health care provision. These features condition the varying approaches taken to the pandemic and their relative effectiveness. Exploration of the particularities of the decentralized Spanish system concludes the part. Part 2 presents a snapshot of the financial situation of the systems before the impact of the pandemic. Part 3 reviews a set of factors that ought to be considered in performance evaluations of the COVID-19 response, with emphasis on the Spanish case as an illustrative example. These factors include caution in evaluating outcomes (cases, deaths), and the importance of accounting for the political and baseline demographic and socioeconomic factors that have shaped the severity of the pandemic in each country, among others. Journal: Forum for Social Economics Pages: 175-191 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2021.1915835 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1915835 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:175-191 Template-Type: ReDIF-Article 1.0 Author-Name: Ivan Sainsaulieu Author-X-Name-First: Ivan Author-X-Name-Last: Sainsaulieu Title: Over-Mobilization, Poor Integration of Care Groups: The French Hospital System in the Face of the Pandemic Abstract: In France, the health system is characterized by both a centralizing State and strong market pressures (liberal medicine, pharmaceutical industries, etc.). Within the framework of budget reduction policies, this confrontation has led to savings on the productive wage bill within the public hospital rather than on medical fees or industrial profits, resulting in the elimination of beds and a reduction in the number of permanent staff, while administrative employment has increased for management staff. In the face of the pandemic, the mobilization of health care workers was able to demonstrate its effectiveness, compensating for the deficits in equipment and organization from above. Mutual aid is highly contextualized, based on local logics and interaction configurations. If mutual aid prevailed overall, exhaustion was spreading among the troops before the second wave and then the third wave. At the same time, the management did not involve the healthcare teams more in the decisions, contrary to certain participative attempts in the past. The management team, which was not involved in the crisis, tended to reassert its presence as if nothing had happened, even though a distinction had to be made between a type of management that was close to the patients and a type of management that was in control and enforced the hierarchy. Journal: Forum for Social Economics Pages: 207-219 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2021.1946706 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1946706 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:207-219 Template-Type: ReDIF-Article 1.0 Author-Name: Lavinia Bifulco Author-X-Name-First: Lavinia Author-X-Name-Last: Bifulco Author-Name: Stefano Neri Author-X-Name-First: Stefano Author-X-Name-Last: Neri Title: Foundational Economy and Healthcare Services: What the Covid-19 Emergency Tells Us Abstract: This paper introduces the FSE special session ‘Healthcare, Covid-19 and the Foundational Economy’, which uses the Foundational Economy (FE) approach to analyze the public health crisis determined by Covid-19. First, the paper briefly presents the FE approach, which consists of two macro-areas. The former, identified as a 'material' foundational economy, comprises the supply of basic goods and services (i.e. water, electricity, gas, food or banking). The latter, defined as a 'providential' foundational economy, comprises services traditionally covered by welfare policies and indispensable to our lives, including healthcare. Subsequently, the introduction illustrates the contributions of the special session, which includes articles on France, Italy, Spain, the US as well as a comparative analysis of the Covid-19 impact in Europe. In presenting these papers, the introduction shows how the FE concepts and methodological tools are relevant and extremely useful to analyze the public health pandemic crisis and its causes. Journal: Forum for Social Economics Pages: 151-160 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2022.2056226 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2056226 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:151-160 Template-Type: ReDIF-Article 1.0 Author-Name: Lorraine Frisina Doetter Author-X-Name-First: Lorraine Author-X-Name-Last: Frisina Doetter Author-Name: Benedikt Preuß Author-X-Name-First: Benedikt Author-X-Name-Last: Preuß Author-Name: Pasquale G. Frisina Author-X-Name-First: Pasquale G. Author-X-Name-Last: Frisina Title: The Intersections of Pandemic, Public Policy and Social Inequality in the United States Abstract: The COVID-19 pandemic has placed the United States of America (U.S.) under enormous strain, leaving it with higher deaths during the first wave of the outbreak (per 100,000 of population) compared to all other advanced economies. In addition to the elderly, Minorities across all age groups in the U.S. are amongst those hardest hit by the virus. The disparate impact has been attributed to various enduring problems related to the social determinants of health adversely affecting Minorities. The present study explores the relationship between the pandemic, public policy, and race/ethnicity-based vulnerability, as the three have fused to disproportionately impact Minorities. We ask, does greater stringency of state measures aimed at controlling the spread of the virus lead to improved mortality rates for Blacks, Hispanics, and Whites equally? And, if not, to what extent does the role of pre-existing and COVID-specific vulnerability play in determining outcomes observed between groups? To answer these questions, we rely on a mix of correlational and regression analyses. Our findings point to the highly divergent impact of public policy and vulnerability on COVID-19 mortality. This suggests that state-led policy to address both the short-term and long-term consequences of the pandemic needs to account for the particular nature of vulnerability affecting Minorities in the U.S. Journal: Forum for Social Economics Pages: 220-234 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2021.1967182 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1967182 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:220-234 Template-Type: ReDIF-Article 1.0 Author-Name: Lavinia Bifulco Author-X-Name-First: Lavinia Author-X-Name-Last: Bifulco Author-Name: Stefano Neri Author-X-Name-First: Stefano Author-X-Name-Last: Neri Title: The Italian National Health Service: Universalism, Marketization and the Fading of Territorialization Abstract: At the time of its inception, in 1978, prevention and primary care were set as fundamental pillars of the Italian National Health Service (NHS), emphasizing the collective and social dimension of health. These principles were progressively neglected over the following four decades. Marketization, managed competition and managerialization privileged the individualized, highly specialized healthcare services mainly provided in hospitals, to the detriment of local outpatient and primary care services. After 2008–09, austerity policies exacerbated this situation determining under-financing as well as structural and staff shortages, while increasing tensions arose between the central government and Regions in the decentralized NHS. In 2020–21, the pandemic highlighted these critical issues. The need to develop a universal and strong outpatient, primary and community care system became evident in order to ensure the appropriateness and quality of foundational health services. This requires the State to play a more prominent role in the NHS governance. Journal: Forum for Social Economics Pages: 192-206 Issue: 2 Volume: 51 Year: 2022 Month: 4 X-DOI: 10.1080/07360932.2022.2036625 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2036625 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:2:p:192-206 Template-Type: ReDIF-Article 1.0 # input file: catalog-resolver-4158694103277543602.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220713T202513 git hash: 99d3863004 Author-Name: Massimo Cingolani Author-X-Name-First: Massimo Author-X-Name-Last: Cingolani Title: What Economic Modelling Hypotheses Should Underlie Regulation & Policy Advice? Towards a Probabilistic Approach Abstract: The recurrence of financial crises in the last fifty years reveals a market coordination failure that regulation and economic policy were unable to prevent. While several explanations exist for the emergence of financial and economic crises, none seems to be fully satisfactory or conclusive. This text develops the idea that the theoretical assumptions that underlie policy and regulation are inadequate to fully map economic reality and that this explains the observed policy and regulatory failures. The paper suggests to assess the adherence of standard economic assumptions to reality from a probability viewpoint. It notes in particular that the no-arbitrage condition is the key assumption retained by modern finance for the pricing of financial assets. It is supported by the same set of logical premises that are associated to competitive markets in general equilibrium theory. Still today, this group of normative requirements remains central in policy advice and regulation, be it through Modern Finance or other applied fields such as Public Choice. Based on simple probabilistic arguments, the paper reminds that the domain of relevance of the above standard normative conditions is necessarily very limited. The inadequacy of the assumptions retained by regulators and policy makers to map actual economic reality can thus explain the regulatory and policy failures that allowed financial crises to develop. Public action should use more wisely normative conditions. A closer look at the adherence of the relevant assumptions to reality may be a way for improving policy and regulation effectiveness in the future. Journal: Forum for Social Economics Pages: 253-284 Issue: 3 Volume: 51 Year: 2022 Month: 7 X-DOI: 10.1080/07360932.2020.1725589 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1725589 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:3:p:253-284 Template-Type: ReDIF-Article 1.0 # input file: catalog-resolver-615648891804506375.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220713T202513 git hash: 99d3863004 Author-Name: As Xie Author-X-Name-First: As Author-X-Name-Last: Xie Title: The Next Global Economic & Financial Crisis is Just Around the Corner Abstract: The core essence of the economic/financial crisis is the imbalance between desire and ability. There is a causal relationship among the contradiction between desire and ability, the imbalance between supply and demand, the formation and accumulation of material wealth and value wealth, and the economic/financial crisis. Since the imbalance between desire and ability is inherent, so is the contradiction between supply and demand. Apart from unconventional measures such as large-scale warfare, the most effective way to counter the economic downturn is to curb the ever-widening wealth gap to eliminate the contradiction between supply and demand. The outbreak of the economic& financial crisis is almost inevitable if the inherent contradiction between supply side and demand side cannot be effectively eliminated. Economics should not be divorced from common sense. Everything else that goes against this common sense is nonsense. Journal: Forum for Social Economics Pages: 285-300 Issue: 3 Volume: 51 Year: 2022 Month: 7 X-DOI: 10.1080/07360932.2019.1667850 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1667850 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:3:p:285-300 Template-Type: ReDIF-Article 1.0 # input file: catalog-resolver4292533704015302393.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220713T202513 git hash: 99d3863004 Author-Name: Ib Ravn Author-X-Name-First: Ib Author-X-Name-Last: Ravn Title: Werner’s Typology of Banking Theories Abstract: This paper examines and critiques a highly illuminating typology of three banking theories. The typology was proposed by Richard A. Werner, and it identifies the financial intermediation theory, the fractional reserve theory and the credit creation theory. Two experiments testing them are reviewed, as well as the explanation offered by Werner for retaining only the credit creation theory. Werner’s research is unique in that it tracks actual bank records during a loan transaction. Yet, his conclusion—that banks individually can create credit—downplays the key role of the collectivity of banks in enabling borrowers to use their credit for making payments. Two neglected contexts for the three theories are proposed: one historical, involving monetary regimes, the other systemic, involving interbank clearing arrangements. It is found that the three theories are associated with different monetary regimes (relating to specie, reserves, and account money, respectively) and, despite Werner’s rejection of two of them, they all remain appropriate in proportion to the prevalence of the respective monies in the case at hand. Journal: Forum for Social Economics Pages: 301-318 Issue: 3 Volume: 51 Year: 2022 Month: 7 X-DOI: 10.1080/07360932.2019.1668286 File-URL: http://hdl.handle.net/10.1080/07360932.2019.1668286 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:3:p:301-318 Template-Type: ReDIF-Article 1.0 # input file: catalog-resolver6813310201900887089.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220713T202513 git hash: 99d3863004 Author-Name: Thibaud Deguilhem Author-X-Name-First: Thibaud Author-X-Name-Last: Deguilhem Author-Name: Michelle Vernot-Lopez Author-X-Name-First: Michelle Author-X-Name-Last: Vernot-Lopez Author-Name: Baptiste Delmas Author-X-Name-First: Baptiste Author-X-Name-Last: Delmas Title: Quality of Employment in Bogotá (Colombia): Concept, Method and Evidence Abstract: The concept of quality of employment is a helpful response to different conceptualisations and typologies’ failures in the analysis of the diversity of labour institutions in Latin America. The authors with the help of an original methodology combining socio-economic dimensions in a Multiple Correspondence Analysis (MCA), construct a multidimensional indicator. Analysing individual data coming from a household survey in Bogotá for 2013, they found a clear polarization in the quality of employment distribution, transcending the classical typologies. Finally, this original and contextualized measure seems to be useful to describe precisely the complexity of the labour market institutions. Journal: Forum for Social Economics Pages: 319-340 Issue: 3 Volume: 51 Year: 2022 Month: 7 X-DOI: 10.1080/07360932.2020.1843515 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1843515 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:3:p:319-340 Template-Type: ReDIF-Article 1.0 # input file: catalog-resolver-6715227161918611852.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220713T202513 git hash: 99d3863004 Author-Name: Karol Gil-Vasquez Author-X-Name-First: Karol Author-X-Name-Last: Gil-Vasquez Title: Portuguese Social and Solidarity Economy’s ‘Substantive Meaning:’ Constructing an Alternative Path to European Cohesion Abstract: After the 2008 Global Financial Crisis (G.F.C.), the conditions that are tearing the European Union (E.U.)’s amalgamating mission apart resurface. The focus of this paper is one E.U. member, Portugal, a country that experiences a sovereign debt crisis in 2009. To confront a plethora of issues, Portugal’s marginalized sectors develop initiatives that revolve around the Social and Solidarity Economy (S.S.E.). The Portuguese S.S.E. represents an ideological manifestation and a pragmatic initiative to re-contextualize the E.U.’s economy that ameliorates inequality and democratizes the economy, igniting participatory democracy. On the one hand, the Social Economy promotes initiatives based on a value system that prioritizes people over profits. On the other, the Solidarity Economy incorporates a non-market vision to production, consumption, and distribution. Portugal is contributing to S.S.E.’s robust existence in the E.U. It constitutes a sector that enhances reciprocity, participatory democracy, and associationism at the community level. Journal: Forum for Social Economics Pages: 341-360 Issue: 3 Volume: 51 Year: 2022 Month: 7 X-DOI: 10.1080/07360932.2020.1724553 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1724553 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:3:p:341-360 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1715810_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Raghu Bir Bista Author-X-Name-First: Raghu Bir Author-X-Name-Last: Bista Title: Does Disaster Change Income and Wealth Distribution Toward Extremity of Inequality and Poverty? Analysis of Flood and Landslides in the Vulnerable Locations of Nepal Abstract: Natural disaster is a key exogenous driver to unpredictable risk of uncertainty and cost of economic loss. GDP loss at national economy and welfare loss at household level in the world are major costs of natural disasters. The cost that is a burden to households could change on income distribution and household income vertically and horizontally and then their livelihood and welfare. This relationship makes a curiosity of whether natural disaster could change income distribution at the household level in developing countries, where socio-economic vulnerable groups exist so that an alternative policy option can be explored to minimize such bad effects on socio-economic vulnerable groups and their livelihood and welfare. This article measures empirically the income distribution effects of natural disaster at household level based on primary data sets collected through a household survey in Sot Khola (stream) water basin using the Gini coefficient method. As a reference line, inequality and poverty levels are employed. Comprehensive and comparative analytical tools are used for testing the above research question based on two periodic data sets and information. As a result, the water shed areas had higher inequality and poverty level than national inequality line (0.33) before natural disaster. The residents were socio-economically and geographically vulnerable. The natural disaster damaged heavily tangible and nontangible assets, houses, household utensils, documents, dresses, valuable indigenous materials, emotions, and food grains. Thus the vulnerable households lost their assets and food grains in the disaster. Its distribution was acute at higher and lower altitude watershed areas and households than middle areas and households. In general, higher altitude watershed areas and households were more vulnerable than middle and then lower altitude watershed areas and households. Such acuteness of economic loss redistributed their inequality and poverty level in such a way. Thus, the vulnerable population became more vulnerable and the nonvulnerable population with their adaptive capacity became less vulnerable. Thus, the natural disaster has a negative income distribution effect at household level, particularly for vulnerable households with expansion of inequality and poverty. Journal: Forum for Social Economics Pages: 467-481 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2020.1715810 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1715810 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:467-481 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1886143_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: John Randall Posey Author-X-Name-First: John Randall Author-X-Name-Last: Posey Title: The Geographic Redistribution of Income in the United States, 1969–2019: Examining the Role of Federal Policy Abstract: Prior research on regional differences in income levels has focused almost exclusively on market mechanisms that affect wages. This article argues that federal policy has had significant effects on changes in regional income inequality, and that these effects have rarely been analyzed. Since 1969, an increase in transfer payments and financial deregulation have increased the share of national income going to transfers and financial income. To show how these changes played out spatially, this article offers a decomposition of the difference in income growth between ten of the fastest-growing metropolitan regions and the United States as a whole, for the period 1969–2019. In most of the regions with the fastest income growth, financial and transfer income account for most of the difference in income growth rates between region and nation. Literature on regional income inequality would benefit from paying more attention to unearned income, and from engaging more fully with literature on financialization. Journal: Forum for Social Economics Pages: 361-376 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2021.1886143 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1886143 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:361-376 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1999842_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Tuyara Gavrilyeva Author-X-Name-First: Tuyara Author-X-Name-Last: Gavrilyeva Author-Name: Anna Naberezhnaya Author-X-Name-First: Anna Author-X-Name-Last: Naberezhnaya Author-Name: Filipp Nikiforov Author-X-Name-First: Filipp Author-X-Name-Last: Nikiforov Title: Poverty in the Russian Arctic: The Case of the Republic of Sakha (Yakutia) Abstract: The distinctive feature of absolute poverty in the Republic of Sakha (Yakutia), as a region of the North and the Arctic, is its persistence over a long time (2003–2019). The growth of industrial production resulting from the extensive development of natural resources does not affect the income of Yakutia’s population. Using a database containing measurements of social well-being and living standards in 1990–2019, linear regression models of poverty in Russia and Yakutia were built. Based on quantitative and comparative analyses, endogenous poverty factors were identified in Yakutia. These are high cost of living and demographic patterns: high birth rate and dependency ratio and a significant share of the rural population. Ineffective social policy, when a large proportion of social support is provided to people who do not need it, also contributes to the sustainability of poverty. Both the federal government and the government of Yakutia have sufficient resources to solve the problem of absolute poverty. This requires a new social model, a more equitable redistribution of income, and the alleviation of inequality not only among social groups, but also from a regional perspective. Journal: Forum for Social Economics Pages: 377-393 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2021.1999842 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1999842 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:377-393 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1977970_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Francis Kwaw Andoh Author-X-Name-First: Francis Kwaw Author-X-Name-Last: Andoh Author-Name: Richard Kwabena Nkrumah Author-X-Name-First: Richard Kwabena Author-X-Name-Last: Nkrumah Title: Distributional Aspects of Ghana’s Value-Added Tax Abstract: Much of the argument against value-added tax (VAT) is that it is regressive and therefore burdens the poor, relative to the rich. In this paper, we examine the distribution of Ghana’s VAT burden as well as benefits from VAT exemptions across different categories of households, paying attention to how these distributions vary over time and across different socioeconomic characteristics. We use data from the last four waves of the Ghana Living Standard Surveys (GLSS) to compute the VAT liability and benefits from exemptions for each household. We find that the VAT regime has evolved from being progressive to regressive, thus hurting the poor more than it does the rich. We further find a rise in the burden on females in poorer households, the least educated and the unemployed. Finally, we find the current exemption regime to benefit richer households more, relative to poorer households. Journal: Forum for Social Economics Pages: 394-414 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2021.1977970 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1977970 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:394-414 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1937270_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Oren M. Levin-Waldman Author-X-Name-First: Oren M. Author-X-Name-Last: Levin-Waldman Title: Inequality and the Crisis of Capitalism: A Review Essay Abstract: This essay is a review essay which discusses four books on the topic on income inequality and whether it constitutes a crisis. Although all four come to the topic from different perspectives, the one point of agreement is that it is capitalism which is in crisis. Consequently, we are forced to rethink the relationship between society and the state. Journal: Forum for Social Economics Pages: 482-490 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2021.1937270 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1937270 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:482-490 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2011763_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Jon Reiersen Author-X-Name-First: Jon Author-X-Name-Last: Reiersen Title: Too Much Redistribution, Too Little or Just Right? Abstract: How informed are individuals about the income distribution in their own country? This article presents survey data showing that Norwegians tend to overestimate the level of inequality in Norway. This contrasts with survey data from the United States (US), presented in Norton and Ariely , showing that Americans vastly underestimate inequality in their own country. These findings are interpreted by emphasizing the effect existing differences in income have on peoples’ psychological capacity to observe income differences. Norwegians are also asked how they ideally would like income to be distributed. They construct an ideal income distribution that is surprisingly close to the actual (egalitarian) distribution in Norway. Americans also construct an ideal distribution that more closely resembles the distribution of income in Norway than in the US. Respondents’ preferences for small income differences are discussed with reference to recent findings in experimental and neurobiological research. Journal: Forum for Social Economics Pages: 453-466 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2021.2011763 File-URL: http://hdl.handle.net/10.1080/07360932.2021.2011763 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:453-466 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1896564_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Segun Thompson Bolarinwa Author-X-Name-First: Segun Thompson Author-X-Name-Last: Bolarinwa Author-Name: Olumide Olusegun Olaoye Author-X-Name-First: Olumide Olusegun Author-X-Name-Last: Olaoye Author-Name: Wajahat Ullah Author-X-Name-First: Wajahat Author-X-Name-Last: Ullah Author-Name: Babatunde Agbi Author-X-Name-First: Babatunde Author-X-Name-Last: Agbi Title: Does Financial Development Really Matter for Poverty Reduction in Africa? Abstract: This paper revisits the financial development–poverty nexus. The study builds a robust measure of financial development that captures the state of financial development in Africa. We adopt the measure for examining the relationship between 1996 and 2015. Our results agree with a priori expectation. Overall, we find a reducing effect of financial development on absolute poverty but this does not affect relative poverty. Private credit has a poverty-reducing effect; however, total financial development and financial inclusion do not affect poverty in African countries. Also, stability and efficiency increase poverty levels. Considering the low level of financial inclusion in the continent, it is likely that financial development will reduce poverty in the continent if the poor can access credits. Our results should be interpreted with caution, the commercial banking model may not adequately address poverty in Africa. Hence, much should not be expected in policy circles from financial development for poverty reduction in the present state of financial development in Africa. Journal: Forum for Social Economics Pages: 415-432 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2021.1896564 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1896564 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:415-432 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1811746_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Sheereen Fauzel Author-X-Name-First: Sheereen Author-X-Name-Last: Fauzel Title: Investigating the Impact of Trade on Poverty Reduction in a Small Island Economy Abstract: The contribution of international trade to economic development has long been debated. While comparative advantage theorists have claimed that trade will benefit a country at large and that this development will help the poor, the general concept is still being debated by social economists attributing development to human development. Discussions in this regard have tended to centre on the extent to which international trade can bring social benefits in terms of job creation and poverty reduction. Aside from this, empirical studies have shown that trade can harm the poor. Trade openness can increase poverty through the increase of inequality in developing countries. Given the fact that there is considerable disagreement in this field, this paper carried out a quantitative investigation of the impact of trade on poverty reduction. The case of the small island of Mauritius is considered over the time period of 1990–2017. Using a dynamic econometric technique, namely, the vector error correction model, the study found that trade reduces poverty in the long, rather than the short run. Moreover, the study also shows that economic growth as well as education are important to alleviate poverty in the country. Hence, it is recommended that the government adopt an export-led poverty Reduction Programme, which will integrate poor communities into trade. Other social protections and social policies like the provision of welfare benefits are recommended to reduce poverty level in the country. Journal: Forum for Social Economics Pages: 433-452 Issue: 4 Volume: 51 Year: 2022 Month: 10 X-DOI: 10.1080/07360932.2020.1811746 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1811746 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:51:y:2022:i:4:p:433-452 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1883088_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Giuseppina Autiero Author-X-Name-First: Giuseppina Author-X-Name-Last: Autiero Author-Name: Annamaria Nese Author-X-Name-First: Annamaria Author-X-Name-Last: Nese Title: Educational Expectations: Do Ethnicity and Religion Make the Difference between Genders? Abstract: This work analyses how ethnic background affects adolescents’ educational expectations in the UK in order to understand whether it shapes the behaviour of immigrant-origin girls differently from that of immigrant-origin boys as well as British girls and boys. We extend the literature by focusing on the role of religion as part of ethnic background since it may often be a traditionalist force hampering educational attainments. The empirical analysis relies on microdata drawn from the sixth wave of the Millennium Cohort Study. This is an ongoing longitudinal cohort study offering large-scale information on the lives of young people since when they were born-between 2000 and 2002-and on the families they are growing up in. Overall, the results show that most ethnic minorities have higher expectations than the British and that female adolescents have higher expectations than their male counterpart; gender differences do not depend on ethnicity and religion. Educational expectations are even higher among second generation teens and may reflect the optimism of immigrant parents. Journal: Forum for Social Economics Pages: 69-104 Issue: 1 Volume: 52 Year: 2023 Month: 1 X-DOI: 10.1080/07360932.2021.1883088 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1883088 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:1:p:69-104 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1883089_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Ricardo F. Crespo Author-X-Name-First: Ricardo F. Author-X-Name-Last: Crespo Title: Reinserting Ethics in Economics: Some Thoughts Springing from Recent Related Contributions Abstract: This essay on ethics and economics stems from reading and reviewing three recent books on this topic: Wilfred Dolfsma and Ioana Negru (eds.), The Ethical Formation of Economists; Peter Rona and Laszlo Zsolnai (eds.), Economics as a Moral Science, and Michael J. Sandel, The Tyranny of Merit. What’s Become of the Common Good? Before reviewing the books, the essay provides information and develops the author's position on the topic. Journal: Forum for Social Economics Pages: 114-122 Issue: 1 Volume: 52 Year: 2023 Month: 1 X-DOI: 10.1080/07360932.2021.1883089 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1883089 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:1:p:114-122 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1904430_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Miki Malul Author-X-Name-First: Miki Author-X-Name-Last: Malul Title: (Mis)perceptions about the Gender Gap in the Labor Market Abstract: People’s perceptions about the gender gap might influence their attitudes about the need for policy interventions to reduce it. How accurate are these perceptions? Which gender has a better understanding about the actual gender gap? Using a survey-based experiment with a representative sample of 538 Israelis, we found a significant gap between perceptions and reality with regard to wages, attributes of employment, seniority within the company and education. The misperceptions were significantly higher among males. We also found that in general, both men and women underestimated the contribution of the latter to the workforce and their level of education. Similarly, they both overestimated the percentage of women in positions such as CEOs and company chairs. The results suggest the need to increase the awareness of the gender gap, particularly among men. Such awareness is the first step in narrowing the gender gap. Journal: Forum for Social Economics Pages: 105-113 Issue: 1 Volume: 52 Year: 2023 Month: 1 X-DOI: 10.1080/07360932.2021.1904430 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1904430 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:1:p:105-113 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1879199_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Suneila Gokhool Author-X-Name-First: Suneila Author-X-Name-Last: Gokhool Author-Name: Verena Tandrayen-Ragoobur Author-X-Name-First: Verena Author-X-Name-Last: Tandrayen-Ragoobur Author-Name: Harshana Kasseeah Author-X-Name-First: Harshana Author-X-Name-Last: Kasseeah Title: A Socio-Economic-Political Dimension of Employment in Sub-Saharan Africa Abstract: The paper adopts a broader perspective in studying the determinants of employment. The main objective of the study is to assess the impact of social and political variables on employment levels after accounting for macroeconomic factors. In addition, the paper adopts a gendered dimension to the labour market, as relatively more women tend to be unemployed or have vulnerable jobs in the informal sector. The Fully Modified Ordinary Least Squares is applied to analyse the drivers of employment. Data for Sub-Saharan Africa is collected from 1991 to 2016. The findings indicate that higher economic growth; more access to finance and education, low corruption as well as political stability positively affect employment. There is thus evidence to extend existing employment analysis and policy making beyond economic factors to embrace social and political constraints. Journal: Forum for Social Economics Pages: 22-42 Issue: 1 Volume: 52 Year: 2023 Month: 1 X-DOI: 10.1080/07360932.2021.1879199 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1879199 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:1:p:22-42 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1856166_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Simplice A. Asongu Author-X-Name-First: Simplice A. Author-X-Name-Last: Asongu Author-Name: Samba Diop Author-X-Name-First: Samba Author-X-Name-Last: Diop Author-Name: Amsalu K. Addis Author-X-Name-First: Amsalu K. Author-X-Name-Last: Addis Title: Governance, Inequality and Inclusive Education in Sub-Saharan Africa Abstract: The study provides thresholds of income inequality that if exceeded will nullify the positive effect of governance dynamics on gender-inclusive education in 42 countries in sub-Saharan Africa for the period 2004–2014. The Generalised Method of Moments is used as an estimation strategy. The following findings are established. First, the unconditional effects of governance dynamics on inclusive education are consistently positive whereas the corresponding conditional effects from the interaction between inequality and governance dynamics are consistently negative. Second, the levels of inequality that completely crowd-out the positive incidence of governance on inclusive ‘primary and secondary education’ are: 0.587 for the rule of law and 0.565 for corruption-control. Third, the levels of inequality that completely dampen the positive incidence of governance on inclusive ‘secondary education’ are: 0.601 for ‘voice & accountability’ and 0.700 for regulation quality. Fourth, for tertiary education, inequality thresholds are respectively 0.568 for political stability and 0.562 for corruption-control. The main policy implication is that for governance dynamics to promote inclusive education in the sampled countries, income inequality levels should be kept within the established thresholds. Other implications are discussed in the light of Sustainable Development Goals. Journal: Forum for Social Economics Pages: 43-68 Issue: 1 Volume: 52 Year: 2023 Month: 1 X-DOI: 10.1080/07360932.2020.1856166 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1856166 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:1:p:43-68 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1825983_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20220907T060133 git hash: 85d61bd949 Author-Name: Emmanuel O. Nwosu Author-X-Name-First: Emmanuel O. Author-X-Name-Last: Nwosu Author-Name: Anthony Orji Author-X-Name-First: Anthony Author-X-Name-Last: Orji Author-Name: Nathaniel E. Urama Author-X-Name-First: Nathaniel E. Author-X-Name-Last: Urama Author-Name: Chisom Emecheta Author-X-Name-First: Chisom Author-X-Name-Last: Emecheta Author-Name: Queen O. Chukwuma Author-X-Name-First: Queen O. Author-X-Name-Last: Chukwuma Author-Name: Joseph Nnaemeka Chukwuma Author-X-Name-First: Joseph Nnaemeka Author-X-Name-Last: Chukwuma Title: Social Capital, Credit Access and Household Nonfarm Enterprises in Nigeria: A new Empirical Evidence Abstract: This paper investigates the effects of social capital on access to credit by household nonfarm small enterprises in Nigeria. Specifically, the paper tries to ascertain how social capital determines ability of household small businesses to borrow from formal and informal sources and the amount of credit accessed. The study uses data from the General Household Survey to estimate probit and Heckman selection model that form the basic models of the study. Specifically, the results show that belonging to informal groups increases the probability of accessing credit by 1.88%, and also has significant positive impact on the probability of using the loan to operate the enterprise. Also, membership of cooperatives significantly increases the probability of accessing enterprise loan. The results show that belonging to cooperatives and informal groups are the only social capital variables that have statistically significant impact on the amount borrowed. Journal: Forum for Social Economics Pages: 1-21 Issue: 1 Volume: 52 Year: 2023 Month: 1 X-DOI: 10.1080/07360932.2020.1825983 File-URL: http://hdl.handle.net/10.1080/07360932.2020.1825983 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:1:p:1-21 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2088589_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Michele Cangiani Author-X-Name-First: Michele Author-X-Name-Last: Cangiani Title: Review of Ursula Huws, Reinventing the Welfare State: Digital Platforms and Public Policies Abstract: Ursula Huws’s book deals with the evolution of the British welfare state, from its innovative development after World War II to its profound revision in the era of neoliberal globalization. Her analysis is grounded on both field research and the reference to the wider changing historical and ideological context. This is undoubtedly a merit of the book, as well as the relationship constantly highlighted between the structure of the labour market and the welfare system. Recent information technologies are examined as important factors of the gig economy and in particular of the digital platform business. A strategic question Huws raises is the possibility of using such technologies to rebuild an efficient network of welfare services, where citizens’ democratic initiative would be coordinated with a renewed role of public policies. Journal: Forum for Social Economics Pages: 218-222 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2022.2088589 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2088589 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:218-222 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1884583_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Samba Diop Author-X-Name-First: Samba Author-X-Name-Last: Diop Author-Name: Simplice A. Asongu Author-X-Name-First: Simplice A. Author-X-Name-Last: Asongu Title: The Covid-19 Pandemic and the New Poor in Africa: The Straw That Broke the Camel’s Back Abstract: This study assesses the incidence of the Covid-19 pandemic on poverty levels in 50 African countries by employing the PovcalNet computational tool for poverty monitoring. The empirical evidence is based on: (i) Pre Covid-19 macroeconomic projections of October 2019 and revised macroeconomic projections of April 2020 and (ii) three poverty thresholds, notably, US$1.90, US$3.20, and US$5.50 per day for the extreme, middle and higher poverty lines. The following main findings are established. First, the extreme poverty line of US$1.90 per day has increased by US$0.1 per day while the middle poverty line and the higher line have increased by US0.19$ and US0.32$, respectively. Second, the poverty headcount has increased to 35.85% for the US1.90$ poverty line, 57.55% for the US3.20$ per day poverty line and 76.42% for the higher poverty line (US5.5$ per day). Third, the corresponding additional percentage points in poverty headcount ratio are: (i) an increase of 2.09% for the poverty thresholds of US1.90$ per day and US3.2$ per day, corresponding to 28, 140, 345 and 26, 418, 200 people, respectively of the new poor in absolute terms and (ii) a boost of 1.78% for the higher poverty line of US5.5$ per day, corresponding to 19, 062, 643 of the new poor. Fourth, country-specific tendencies are also provided for more targeted policy implications. Journal: Forum for Social Economics Pages: 143-154 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2021.1884583 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1884583 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:143-154 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2191293_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Alexandria O. Eisenbarth Author-X-Name-First: Alexandria O. Author-X-Name-Last: Eisenbarth Title: What Can GVC Literature Learn from Stratification Economics?1 Abstract: The SE approach can be extended to the Global Value Chain (GVC) case. Given recurring evidence that low value-added activities tend to take place in low-income nations while high value-added activities take place in high-income nations, much of the Global Value Chain literature advocates for firm-level economic upgrading as a national development strategy. The key observations of SE extend to the GVC case. As such, SE provides GVC literature with a more appropriate social and political context and explains the inconsistent outcomes of economic upgrading strategies. Furthermore, the SE lens allows us to conclude that ahistorical analysis may be favored among economists to, consciously or not, generate an illusion of legitimacy to inequality between the so-called ‘Global North’ and ‘Global South’. Ultimately, standard conclusions from SE suggest a wealth distributive policy approach, indicating that a move toward reparations and loan forgiveness may be a more effective strategy for national development. Journal: Forum for Social Economics Pages: 123-133 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2023.2191293 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2191293 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:123-133 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1999297_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Priyanka Dutta Author-X-Name-First: Priyanka Author-X-Name-Last: Dutta Author-Name: Gayatri Goswami Author-X-Name-First: Gayatri Author-X-Name-Last: Goswami Author-Name: Hemanta Barman Author-X-Name-First: Hemanta Author-X-Name-Last: Barman Title: Financial Inclusion among Backward Communities: A Study of the Tea Garden Workers in Assam, India Abstract: Assam, a north-eastern state in India contributes the largest share in India’s total tea production. However, the workers in the tea gardens of the state are considered as one of the poor and marginalised sections of the population. The workers’ community has limited access to anti-poverty social security programmes and other social welfare schemes including formal financial services. Using primary data, this study examines the extent of financial inclusion among the tea garden workers in Assam. We study financial inclusion in terms of access to a bank account, credit and insurance. Our results reveal that financial inclusion among the workers has deepened considerably but not in all dimensions. We find education as an important determinant of financial inclusion among the tea garden workers in Assam. To make the process of financial inclusion among the tea garden workers more expeditious and comprehensive, specific initiatives towards delivering government-sponsored schemes are needed. Journal: Forum for Social Economics Pages: 203-218 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2021.1999297 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1999297 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:203-218 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2191294_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Lynne Chester Author-X-Name-First: Lynne Author-X-Name-Last: Chester Author-Name: Robert McMaster Author-X-Name-First: Robert Author-X-Name-Last: McMaster Title: Understanding Social Stratification: The Case of Energy Injustice Abstract: The continual restructuring of energy systems, around the world, has generated widespread inequities—manifest as profound inequalities and hardship—across the energy continuum. These inequities include: energy unaffordability; access barriers like price or artefacts to utilise the services provided by energy for work and social practices; ‘sacrifice zones’ for new production sites with health, quality of life, and mortality impacts; and, diminished or absent participatory opportunity in production and regulatory decision-making. Fundamental to reaching solutions for the eradication of energy injustices, an exposition is required, we suggest, of the relationships between energy (in)justice, social justice, and inequality. To this end, we investigate two approaches to understanding injustice and inequality—Nancy Fraser’s meta-(in)justice and Stratification Economics. We conclude that the social stratification exhibited through energy injustices, beyond the economic domain, demands solutions that do not replicate the contemporary neoliberal model privileging the private (economic) spheres of power in our societies. Journal: Forum for Social Economics Pages: 134-142 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2023.2191294 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2191294 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:134-142 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1880461_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Ariadna Ramos-Gomez Author-X-Name-First: Ariadna Author-X-Name-Last: Ramos-Gomez Author-Name: Aldo A. Pérez-Escatel Author-X-Name-First: Aldo A. Author-X-Name-Last: Pérez-Escatel Author-Name: Elio Atenógenes Villaseñor-García Author-X-Name-First: Elio Atenógenes Author-X-Name-Last: Villaseñor-García Author-Name: Cesar Ramos-Remus Author-X-Name-First: Cesar Author-X-Name-Last: Ramos-Remus Title: An infodemiology approach to assess the impact of unemployment on anxiety and depression in France Abstract: Mental health is a key factor for productivity and an indicator of the general well-being of the population. There has been growing evidence in past years that unemployment negatively affects the mental health of the population and, hence, reduces its overall well-being. This study assesses the unemployment and mental health correlation and, specifically, whether depression and anxiety increased due to the rise in unemployment during the 2009 debt crisis in France. We followed an infodemiology approach by first creating a distress index that accounted for all depression and anxiety-related words. Then, by mobilizing Google Trends data, we used diverse economic- and employment-related datasets for France as covariates in multiple linear regression analyses. This study is one of the first to use broad search terms through a distress index that was not restricted to the words “depression” and “anxiety,” but also considered associated terms that individuals may use when seeking information on depression and anxiety. This is also one of the first studies to introduce an infodemiology approach to health economics in France. The results showed that for each unit of additional demand for unemployment benefit, the search traffic for the distress index increased by 0.09%, a positive increase that was minor. The mild effect of demand for unemployment benefits on the distress index may be explained by aspects of social protection policies in France. This paper includes valuable policy suggestions, whereof policymakers could benefit from. Journal: Forum for Social Economics Pages: 185-201 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2021.1880461 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1880461 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:185-201 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1997781_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Iris Buder Author-X-Name-First: Iris Author-X-Name-Last: Buder Author-Name: Jacob Jennings Author-X-Name-First: Jacob Author-X-Name-Last: Jennings Title: Pandemics, Socioeconomic Gaps, and Macroeconomic Policy: The Ugly Truth Highlighted by COVID-19 Abstract: Economic stratification lies at the heart of persistent inequities, which have been considerably amplified under COVID-19. To tackle these persistent inequities, a social economics approach and common goods focused policy for at-risk groups are required. Using this approach, this article highlights various past macroeconomic and health policy decisions that have created the conditions for the social and spatial distribution of COVID-19 infections, deaths, and other deleterious outcomes. Additionally, the linkages between health and socioeconomic status are explored, shedding light on the current and likely gaps present given the Covid19 global pandemic. One cannot look at the COVID-19 crisis in a vacuum, but rather how the crisis reflects deeply rooted institutional, structural, and systemic social stratification. This article contributes to the existing literature by analysing it through the lens of occupational prestige. The recognition of social economics and the growing stratification of Americans is necessary to enact healthier policies for all, but especially marginalized communities. Journal: Forum for Social Economics Pages: 172-185 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2021.1997781 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1997781 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:172-185 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1904431_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Vu Hoang Nam Author-X-Name-First: Vu Hoang Author-X-Name-Last: Nam Author-Name: Hiep Ngoc Luu Author-X-Name-First: Hiep Ngoc Author-X-Name-Last: Luu Author-Name: Nguyen Thi Tuong Anh Author-X-Name-First: Nguyen Thi Tuong Author-X-Name-Last: Anh Author-Name: Tram-Anh Nguyen Author-X-Name-First: Tram-Anh Author-X-Name-Last: Nguyen Author-Name: Hung Quang Doan Author-X-Name-First: Hung Quang Author-X-Name-Last: Doan Title: Household Stockpiling in Response to the Covid-19 Pandemic: Empirical Evidence from Vietnam Abstract: The current Covid-19 pandemic has caused hundreds of thousands of deaths globally. As a consequence, a myriad of concomitant economic and social activities has been frozen. Many countries have had to enforce border blockages, travel restrictions and quarantine. The pandemic has changed consumers’ attitudes significantly and driven individuals and households to the state of panic buying. This paper examines the household stockpiling in Vietnam in response to the Covid-19 pandemic. Self-administered questionnaires were used to collect the data across the country. The empirical results show that householders’ education and household sizes are positively associated with the propensity that a household stocks up. However, the likelihood of a family stockpiling is lowered when members receive information about the pandemic from formal sources. There are also notable differences among the essential items being stockpiled by different households. Specifically, households living in urban areas or near (super)markets are more inclined to stock up food than other goods. By contrast, households with members working as doctors tend to spend a large portion of their stockpiling budget on medication. Journal: Forum for Social Economics Pages: 155-170 Issue: 2 Volume: 52 Year: 2023 Month: 4 X-DOI: 10.1080/07360932.2021.1904431 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1904431 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:2:p:155-170 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2031248_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Larry Liu Author-X-Name-First: Larry Author-X-Name-Last: Liu Title: Re-Embedding and Disembedding in Post-Socialist Hungary: An Analysis of Orbanism from a Polanyian Perspective Abstract: The rise of populist authoritarianism is a substantial reversal of the liberal democratic path in Central and Eastern Europe, including Hungary. What explains Hungary’s authoritarian turn toward Orbánism and what are the components of Orbánism that consolidate its claim to power? This paper uses a Polányian perspective and argues that the populist authoritarian turn occurred in the context of the social dislocation of the post-socialist transition period in the 1990s and 2000s. Viktor Orbán and Fidesz’ populist authoritarianism filled a political vacuum by offering a new re-embedding strategy for the population, which included material (full employment, family policy, remittances) and ideological (ethnic nationalism, xenophobia, Christian conservatism) policies. However, Orbánism has contradictory implications, because (1) material embedding takes the form of a punitive and highly conditional workfare regime, and (2) the regime simultaneously advances “disembedding” features including pro-oligarchic, pro-foreign investor, pro-rich, anti-union and anti-welfare policies. As a result, Orbán’s power consolidation is premised on political authoritarianism to prevent any expected discontent from threatening the regime. Journal: Forum for Social Economics Pages: 255-269 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2022.2031248 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2031248 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:255-269 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1944260_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Chi Khanh Nguyen Author-X-Name-First: Chi Khanh Author-X-Name-Last: Nguyen Author-Name: Anh Quang Nguyen Author-X-Name-First: Anh Quang Author-X-Name-Last: Nguyen Author-Name: Nhu Quynh Nguyen Author-X-Name-First: Nhu Quynh Author-X-Name-Last: Nguyen Author-Name: Trang Thi Minh Nguyen Author-X-Name-First: Trang Thi Minh Author-X-Name-Last: Nguyen Author-Name: Anh Ngoc Chu Author-X-Name-First: Anh Ngoc Author-X-Name-Last: Chu Author-Name: Lan Thi Mai Nguyen Author-X-Name-First: Lan Thi Mai Author-X-Name-Last: Nguyen Title: Cash Holding and Financial Stability during a Crisis: A Case Study of Vietnamese Firms in Covid-19 Pandemic Abstract: This paper aims to examine whether cash holding can enhance the financial stability of firms under the impact of the Covid-19 pandemic. We utilize quarterly data of 285 Vietnamese listed firms from quarter 1-2011 to quarter 3-2020 for our analyses. The results reveal that cash holding has a positive effect on financial stability during the pandemic crisis. Additionally, cash holdings of two quarters ahead also have significant impact on firms' financial stability. We also find that cash holding is particularly crucial for firms that are more vulnerable to the pandemic, for examples firms headquartered in big cities, firms from Consumer Discretionary, Material, Energy industry, large firms, and firms with a history of high sale growth. Altogether, our study highlights the importance of holding cash and early planning for cash holding as an effective risk management method for firms, especially for those that are more vulnerable to an economic shock. Journal: Forum for Social Economics Pages: 298-311 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2021.1944260 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1944260 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:298-311 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1937671_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Stefan Kesting Author-X-Name-First: Stefan Author-X-Name-Last: Kesting Title: Teaching Heterodox and Pluralist Economics – Some Useful Books Abstract: This review highlights the strengths and weaknesses of three recently published useful resources for teaching economics from a pluralist and/or heterodox perspective. The introduction provides an overview of other helpful (text-)books for this purpose. Based on a historical approach, Geoffrey Schneider’s book describes and differentiates the characteristics of a broad range of economic ideas and systems. The core chapters on Smith, Marx, Veblen, and Keynes (+ Hayek) provide a brilliant concise, very well written and easily accessible overview of the plurality of major economic ideas in their historical evolution. Moreover, this explanation is shown as intricately entwined with the epochal eventful history of economic systems. Journal: Forum for Social Economics Pages: 312-321 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2021.1937671 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1937671 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:312-321 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2052737_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Jakub Szabó Author-X-Name-First: Jakub Author-X-Name-Last: Szabó Author-Name: Milan Kurucz Author-X-Name-First: Milan Author-X-Name-Last: Kurucz Title: The Death of Neoliberalism or a Mere Camouflage? Polanyian Countermovement in Hungary & Poland Abstract: This article aims to assess the causes of the recent emergence of Polanyian countermovement in Hungary and Poland and their attitudes towards neoliberal orthodoxy prevailing in post-1989 socioeconomic development. This article is structured as follows. Firstly, we approximate the fundaments of neoliberal thinking through the inner workings of Vanberg and Hayek. Secondly, we incorporate the Polanyian framework, focusing primarily on the concept of a countermovement. Lastly, we assess the development of neoliberal features in the political economy of Hungary and Poland, trying to position the emergence of Fidesz and Prawo i Sprawiedliwość (Law and Justice, PiS) into this development. We argue that both countermovements emerged as a result of general discontent with neoliberal development. Whilst the political economy of Orbán’s regime remains critical of neoliberalism mainly in the rhetoric, camouflaging neoliberal orthodoxy with developmental rhetoric, the conservative governments in Poland made a substantial shift from the neoliberal orthodoxy following their rise to power in 2015. Journal: Forum for Social Economics Pages: 240-254 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2022.2052737 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2052737 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:240-254 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2138936_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Mariusz Baranowski Author-X-Name-First: Mariusz Author-X-Name-Last: Baranowski Title: The Illiberal Turn in Politics and Ideology through the Commodified Social Policy of the ‘Family 500+’ Programme Abstract: The specificity of political and economic changes in Central and Eastern Europe (CEE) over the past decade requires detailed theoretical analysis and in-depth empirical research. In particular, the so-called illiberal turn in politics and the accompanying economic reforms are of interest to social scientists. This article attempts to explain this turn in the context of social policy changes, based on the example of the Family 500+ programme in Poland during the rule of the populist political party Prawo i Sprawiedliwość (Law and Justice, or PiS). To demonstrate the instrumental role of this programme in the implementation of the illiberal strategy, the concept of the commodification of social benefits is used to shed new light on the specificity of Polish ‘pseudo-social welfare’. Hence, the main premise of this article is the thesis that the Family 500+ programme not only fails to constitute the foundation of the Polish welfare state, but, through the commodification of social relations and cuts within the de-commodified social services, it reinforces neoliberal economic forces and the importance of the state. Journal: Forum for Social Economics Pages: 270-281 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2022.2138936 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2138936 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:270-281 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2218584_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Sławomir Czech Author-X-Name-First: Sławomir Author-X-Name-Last: Czech Author-Name: Maciej Kassner Author-X-Name-First: Maciej Author-X-Name-Last: Kassner Title: Understanding the Rise of Illiberal Populism in Central and Eastern Europe. Insights from Scholarship Influenced by Karl Polanyi Abstract: The illiberal turn marked by the rejection of the main tenets of political, cultural, and (to some extent) economic liberalism poses a serious threat to the liberal status quo which emerged in CEE after 1989. We maintain that embracing the concept of countermovement derived from the thought of Karl Polanyi provides valuable insights into comprehending the dynamics of this socio-political phenomenon. In this introduction, we sketch the general background for the papers included in the symposium. We start by outlining the core features of market transitions and discussing briefly the leading research strands inspired by Polanyi’s ideas. Then we try to demonstrate how the legacy of Polanyi’s thought could be useful in understanding the contemporary ascent of illiberal populism. In our view, the chief advantage of Polanyian scholarship lies in its ability to account for the interdependence of economic (or global) and cultural (or local) causes of populist reaction. Journal: Forum for Social Economics Pages: 223-239 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2023.2218584 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2218584 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:223-239 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_1927792_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Silvia Sacchetti Author-X-Name-First: Silvia Author-X-Name-Last: Sacchetti Author-Name: Carlo Borzaga Author-X-Name-First: Carlo Author-X-Name-Last: Borzaga Author-Name: Ermanno C. Tortia Author-X-Name-First: Ermanno C. Author-X-Name-Last: Tortia Title: The Institutions of Livelihood and Social Enterprise Systems Abstract: This paper considers resource coordination as a problem of allocation and distribution of resources in organisations pursuing social aims, or social enterprises (SEs). These goals are close to the Polanyian idea of the primacy of society over self-regulating markets and to reciprocity as mechanism of coordination of the economic activity that is different from both market exchange and redistribution. We ask what the specificities of organisations that pursue social aims are, and what coordination mechanisms underpin their production. The premise is that individuals are driven by plural motivations, including pro-social motivations besides self-interested ones, thus requiring a plurality of coordination mechanisms. SEs make principal use of cooperative pacts based on norms of reciprocity, but include also market exchanges and state-led coordination, both at organisational and systemic levels. Specific institutional solutions in support of cooperation and reciprocity, including asset distribution, surplus accumulation, redistribution, and multi-stakeholding are considered. Journal: Forum for Social Economics Pages: 282-297 Issue: 3 Volume: 52 Year: 2023 Month: 7 X-DOI: 10.1080/07360932.2021.1927792 File-URL: http://hdl.handle.net/10.1080/07360932.2021.1927792 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:3:p:282-297 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2164599_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Thomas E. Lambert Author-X-Name-First: Thomas E. Author-X-Name-Last: Lambert Title: The Great Resignation in the United States: A Study of Labor Market Segmentation Abstract: During 2021 and 2022, many news media outlets have reported that millions of workers in the United States have been quitting their jobs in record numbers. In a global economy rebounding from the economic downturn caused by the Covid-19 outbreak and demanding more workers, a high rate of resignations has exacerbated labor shortages and may be aggravating unemployment and underemployment rates if many workers are not participating at all in the labor force or only working part time. Many reasons have been offered to explain this ‘Great Resignation’ including high day care costs for working parents that may in turn be causing the trend of lower female labor force participation; the supposed ‘liberating’ experience of not working at all or to work from home instead of having to work from one’s usual work place during the Covid-19 quarantine/lockdown periods; stagnant/low wages and greater job tenure uncertainty which make working less attractive and more stressful; and the feeling by many of not wanting to work further for bad bosses or management who create bad work environments so that resignation becomes a means of escape from such conditions. This article analyses data of US labor trends since 2003 and demonstrates that resignations have been trending upward in the US aggregate economy and that quit rates mostly have been trending higher within many US industries. These phenomena can be explained by the concept of labor market segmentation, high unemployment, and underemployment rates that exist even in good economic times in some industries, minority group composition within industries, wage stagnation, and type of managerial supervision. Some of these same factors help to explain labor under-utilization greater than national/aggregate rates within these industries as well. Journal: Forum for Social Economics Pages: 373-386 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2022.2164599 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2164599 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:373-386 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2234092_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: John Komlos Author-X-Name-First: John Author-X-Name-Last: Komlos Title: Unemployment in the High-Pressure Capitalism of the 21st Century: Introduction Abstract: The transition from an industrial to knowledge economy created many stressors that exacerbated the excesses of four decades of neoliberal economic policies culminating in a high-pressure capitalism that is reducing the effectiveness of the social contract upon which its success was based in the first place. Journal: Forum for Social Economics Pages: 323-333 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2023.2234092 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2234092 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:323-333 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2207208_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Ernesto Dominguez Lopez Author-X-Name-First: Ernesto Author-X-Name-Last: Dominguez Lopez Author-Name: Seida Barrera Rodríguez Author-X-Name-First: Seida Barrera Author-X-Name-Last: Rodríguez Title: Transition and Labour in the United States: Industry and Employment in the Changing Political Economy of Knowledge Capitalism Abstract: The history of capitalism in the United States since the crisis of the 1970s is marked by a process of global scope: the decline of industrialism. This represents the transition to a new era of capitalism as a mode of production. The US has experienced a set of interlocked processes, three of which are of fundamental interest for this article: the structural change from industrial to knowledge-based economy; the making of neoliberal policies that allowed for the financialisation of the economy and the weakening of unions; the transformation of the corporate model. Consequently, there is an intense downward pressure on wages, job quality and middle-class employment. This translates into the loss of benefits for workers and a decline in job security. This article addresses these processes through the lenses of an evolutionary theory of history. From this perspective, the observed changes are expressions of the transition to a post-industrial capitalism that entails destruction of old jobs and the creation of a pool of labour with limited bargaining capacity. Journal: Forum for Social Economics Pages: 334-353 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2023.2207208 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2207208 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:334-353 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2189078_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Iulia Monica Oehler-Șincai Author-X-Name-First: Iulia Monica Author-X-Name-Last: Oehler-Șincai Title: Well-Being, Quality of Governance, and Employment Policies: International Perspectives Abstract: Looking beyond the traditional national accounts and household-income-labour dynamics, this paper examines well-being from a conceptual and practical perspective. It builds upon the literature review and indicators including the Better Life Index, the Human Development Index, the Healthiest Countries Index, and the Happiness Index. Education, knowledge, skills, health, safety, and good employment are central drivers of well-being and life satisfaction. Job satisfaction is strongly correlated with health, family fulfilment, social relationships, good citizenship, job quality, and productivity at work. Quality of governance and appropriate employment policies positively influence job satisfaction and therefore other key determinants of well-being. Vice-versa, well-being measures represent valuable inputs for various policies and, besides, well-being positively influences health, longevity, and productivity. Given all these, the present paper has the following key objectives: (1) to synthesize the main dimensions of well-being, both from the subjective and objective standpoints; (2) to underline specific relationships between well-being, quality of governance, and employment policies; (3) to describe the performance of various countries in terms of well-being indexes; (4) to underscore current risks that jeopardize well-being. Journal: Forum for Social Economics Pages: 354-372 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2023.2189078 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2189078 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:354-372 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2205575_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Alina Ligia Dumitrescu Author-X-Name-First: Alina Ligia Author-X-Name-Last: Dumitrescu Title: Challenges of the Unemployment Pressure and the Employment Policies in Romania During the Covid-19 Pandemic Abstract: The most important labour market challenge in Romania before 2020, was the shortage of 600,000 workers. This affected the efficiency of the country’s economic activity. However, the Covid-19 pandemic turned this shortage into an oversupply of workers the hospitality industry, due to quarantine restrictions. Moreover, in the post-industrial society there has been a marked increase in the importance of the knowledge economy and the need for a better-educated workforce. The Covid-19 pandemic has exacerbated the mismatch between the supply and demand of skilled workers. In addition, the crisis accelerated the digitization of many economic activity. In 2020, the Romanian government introduced support programmes, that included benefits for employees, who were paid by the state at 75% of their basic salary. Journal: Forum for Social Economics Pages: 387-397 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2023.2205575 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2205575 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:387-397 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2206023_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Avraham I. Baranes Author-X-Name-First: Avraham I. Author-X-Name-Last: Baranes Author-Name: Carrie Coward Bucher Author-X-Name-First: Carrie Author-X-Name-Last: Coward Bucher Title: Financialized Classification Systems and Public Policy: An Interdisciplinary Approach to Crisis Response Abstract: We utilize classification systems research to examine the disproportionate impact of COVID-19 on marginalized communities and the failures of policy makers to adequately respond to those most in need. Classification situations are individual positions within the market, generated via the mass collection and aggregation of individual financial and behavioral data, that are used to categorize people into price-differentiated opportunities. In a financialized economy, where profits are increasingly accumulated through financial channels, thereby entrenching the role of financial institutions and motives at the center of economic activity, one’s classification situation operates to maximize value for shareholders. Importantly, in a neoliberal economy, where the logic of the market is used to guide social and political policy more broadly, classification situations are the mechanism by which individuals are allocated resources, opportunities, hardships, and other socio-political economic outcomes. In this paper we argue that the fiscal and monetary responses to COVID-19 were designed to support financialized interests and, as a consequence, the resources and protections of the state were allocated not to those most at risk but, rather, to those whose classification situation promised a stronger return on investment. Journal: Forum for Social Economics Pages: 398-415 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2023.2206023 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2206023 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:398-415 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2208743_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20230119T200553 git hash: 724830af20 Author-Name: Dominika Werczyńska Author-X-Name-First: Dominika Author-X-Name-Last: Werczyńska Author-Name: Julia Włodarczyk Author-X-Name-First: Julia Author-X-Name-Last: Włodarczyk Title: Between Employment and Nonemployment: The Ambiguity of Work and Leisure in the Contemporary Labor Market Abstract: The relationship between work and leisure has significantly changed in various segments of the contemporary, digitalized labor market. This article explores the characteristics of the developments that contributed to an increasing indistinguishability of work and leisure. It also discusses theoretical concepts associated with this ambiguity, namely prosumption, playbor and gamification, taking into account the issue of motivation, remuneration and the linkages between an individual engaged in a given activity and other agents. Journal: Forum for Social Economics Pages: 416-432 Issue: 4 Volume: 52 Year: 2023 Month: 10 X-DOI: 10.1080/07360932.2023.2208743 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2208743 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:52:y:2023:i:4:p:416-432 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2152850_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Fiona Ottaviani Author-X-Name-First: Fiona Author-X-Name-Last: Ottaviani Title: Sustainable Well-Being Indicators and Public Policy: A Cluster Analysis Abstract: This paper contributes to the alternative indicators movement. It focuses on how data on sustainable well-being can be synthesized to steer public action. While data on well-being or sustainability are usually summarized in dashboards, composite indexes or territorial typological analysis, this article aims to highlight the interest of the cluster method in an approach of public policy to identify profiles of people who are ‘well-off’ or ‘poor’ in terms of well-being. This approach places people rather than territories at the centre of the analysis. We describe how the cluster method has been used in a project focussing on indicators of sustainable well-being conducted in Grenoble in France, and the advantages it offers. In particular, it facilitates: (1) divestment from pre-existing categorizations used in public action; (2) identification of the heterogeneity of the difficulties encountered by different groups and the vicious or virtuous circles in which these persons find themselves; (3) the development of new courses of public action; and (4) the appropriation and use of the data by local actors. In the case of Grenoble, the data reveal that people who are women, in poor health, and with few people around them whom they can trust are more likely to encounter problems achieving well-being. Journal: Forum for Social Economics Pages: 89-100 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2022.2152850 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2152850 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:89-100 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2037448_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Lan Thi Mai Nguyen Author-X-Name-First: Lan Thi Mai Author-X-Name-Last: Nguyen Author-Name: Thao Thi Phuong Nguyen Author-X-Name-First: Thao Thi Phuong Author-X-Name-Last: Nguyen Title: Market Reaction to the Announcements of Free Trade Agreements: Evidence from Vietnam Abstract: This study examines the reaction of the Vietnamese stock market to Free Trade Agreement (FTA) announcements. We find that FTA announcements exert a negative impact on stock return, which persists for at least 30 days after the announcement date. We also document that FTA initiation and signing announcements adversely affect stock return, whilst the announcements of an FTA taking effect tend to reverse this negative impact. In addition, we find that bilateral FTAs exert a more negative impact on the stock market compared to multilateral FTAs, and industries having no comparative advantage are more severely affected. Our results, therefore, suggest that FTA is not always considered by market participants to be a win-win solution for all parties in international trade, as developing countries tend to be disadvantaged. This provides important insights for policymakers, especially those from low-skilled countries, to carefully consider the signing of an FTA and to support disadvantaged industries. It is also useful for investors in making investment decisions surrounding FTA announcements. Journal: Forum for Social Economics Pages: 18-34 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2022.2037448 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2037448 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:18-34 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2057566_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Priya Author-X-Name-First: Author-X-Name-Last: Priya Author-Name: S. P. Singh Author-X-Name-First: S. P. Author-X-Name-Last: Singh Title: Factors Influencing the Adoption of Sustainable Agricultural Practices: A Systematic Literature Review and Lesson Learned for India Abstract: In the light of growing concern over the sustainability of the agricultural system, the sustainability of input-intensive agricultural systems becomes questionable due to severe environmental challenges associated with it, for instance, overexploitation of natural resources, deteriorating biodiversity, adverse impact on human health. These challenges have led to increased awareness and a need to switch from input-intensive agriculture to sustainable agriculture. The sustainability of agricultural systems can be improved by adopting various sustainable agricultural practices (SAPs) like crop rotation, intercropping, organic farming, integrated pest management, zero tillage. However, the adoption rate of these practices is meager due to various factors. Hence, the present study aims to review the literature from the world to determine the critical factors in adopting SAPs and accordingly explore the potential implications for the Indian context. The study applies the vote-counting method to synthesize evidence-based 30 studies from 18 countries, focusing on developing nations. The findings suggest that the rate of adoption depends on a range of factors: socio-economic, biophysical, institutional, financial, technical, and psychological, but the rate of adoption is low. Thus, it is imperative to understand these essential factors comprehensively for successful future adoption strategies. Journal: Forum for Social Economics Pages: 1-17 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2022.2057566 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2057566 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:1-17 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2164040_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Mangirdas Morkūnas Author-X-Name-First: Mangirdas Author-X-Name-Last: Morkūnas Author-Name: Gabrielė Sirgėdaitė Author-X-Name-First: Gabrielė Author-X-Name-Last: Sirgėdaitė Title: Motives Underlying the Consumption of Black Market Cigarettes among Young People Abstract: This study seeks to reveal the motives underlying the consumption of black market cigarettes among young people. The roles of several potential motives were investigated, both in terms of their direct impact on the consumption of black market cigarettes and in terms of their influence via a mediating variable, namely the formation of a positive attitude towards black market cigarettes. A cross-sectional survey of smokers aged 14–29 years old was employed as a main research tool. The findings indicated that the most important determinants of the consumption of black market cigarettes among young people are susceptibility to social influence, the desire to adapt to a social group through the consumption of a certain product or brand, and a positive attitude towards black market cigarettes. Conversely, among young people, price consciousness does not significantly influence either the formation of a positive attitude towards black market cigarettes or intentions of consuming such cigarettes. Journal: Forum for Social Economics Pages: 53-75 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2022.2164040 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2164040 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:53-75 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2084440_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Muhammad Salman Khan Author-X-Name-First: Muhammad Salman Author-X-Name-Last: Khan Author-Name: Sarah De Nardi Author-X-Name-First: Sarah Author-X-Name-Last: De Nardi Title: The Affectual-Social Ecology of Cultural Artefacts: Illegal Markets and Religious Vandalism in Swat Valley, Pakistan Abstract: Focusing on the rich social and affectual geography of heritage sites in Swat Valley, Pakistan, this paper takes an ethnographic approach to the complex synergy of the value registers of religion and economy and their role in the illegal antiquities market. We argue that ruptures like Taliban’s iconoclasm against the materiality of the pre-Islamic world requires a conceptual reframing of preservation, destruction, and looting within social and cultural frames of reference. Therefore, we reflect on how the illegal market of cultural artefacts in Swat is shaped by conflicting registers of religion and economy. We further examine how these conflicting value registers shape the ‘structures of feelings’ that shape and inform the preservation and destruction of heritage. To this end, we draw on interviews with illegal diggers and antiquity dealers, local archaeologists, heritage activists, and international experts on the Swat region. Journal: Forum for Social Economics Pages: 35-52 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2022.2084440 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2084440 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:35-52 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2229524_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Raja Khalidi Author-X-Name-First: Raja Author-X-Name-Last: Khalidi Title: De-Mystifying the Decolonization of Palestine Abstract: This essay reviews three contributions to a growing critical literature on Palestine political economy, pushing the analytical envelope that had prevailed for decades, powered by a ‘new wave’ of mainly Palestinian scholars. These seek to situate the struggle in a broader ‘inter-sectional’ framework (analysing the combined impacts of settler colonialism, racialism, capitalism and indigeneity, among other concepts) that identifies with, and explicitly combats for, Palestinian rights and agency. The works reviewed here falls squarely within that legacy. Journal: Forum for Social Economics Pages: 101-111 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2023.2229524 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2229524 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:101-111 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2032255_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20231214T103247 git hash: d7a2cb0857 Author-Name: Daniel Silander Author-X-Name-First: Daniel Author-X-Name-Last: Silander Title: The European Commission on Sustainable Development. A New Normative Power in Its Making? Abstract: There is an on-going scholarly debate on European (dis)integration. Research (Cross, 2017; Jones et al., 2021; Vollard, 2018; Webber, 2018) has addressed how historical European crises often led to deepened European collaboration (Cross, 2017). The scholarly work has mentioned how severe crises in EU member states’ reluctance to stay as member-state or include new member-states, obstruction to integration in certain policy areas (the Euro, CFSP, SEM and Schengen), right-winged populism and anti-EU rhetoric in most cases not resulted in expected disintegration, but rather in new negotiations and policy-making. In such context, the European Commission plays an important role to promote European interest beyond individual member-states’ national interests. The climate change challenge provides one of the most contemporary global crisis. The Agenda 2050 on sustainable development is a bold and ambitious vision by the European Commission for a climate neutral Europe and may serve as a normative model globally. This study explores the recent role of the European Commission to promote sustainable development. It is argued that in times of serious European crises, the European Commission has acted as a normative power and transformed crises into a window of opportunity. Journal: Forum for Social Economics Pages: 76-88 Issue: 1 Volume: 53 Year: 2024 Month: 1 X-DOI: 10.1080/07360932.2022.2032255 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2032255 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:1:p:76-88 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2185872_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Saba Aman Author-X-Name-First: Saba Author-X-Name-Last: Aman Author-Name: Farrukh Mahmood Author-X-Name-First: Farrukh Author-X-Name-Last: Mahmood Author-Name: Arsalan Ahmed Author-X-Name-First: Arsalan Author-X-Name-Last: Ahmed Title: Are Migrant Children at Risk of Child Labour? Empirical Evidence from Pakistan Abstract: Child labour is a universal concern as one child in every ten is engaged in child labour globally. Pakistan is no exception to this trend. This study attempts to identify the role of migration on children’s vulnerability to work. For that purpose, this study evaluates the demographic and household attributes, collected from the Labour Force Survey (LFS) (2017–2018), and Logit regression is used for empirical analysis. The findings reveal that migration is one of the decisive determinants of child labour, which is triggered by the high economic and social disparities existing across space in Pakistan. Therefore, balanced growth policies are recommended that require attention to the socio-economic development across all regions and provinces of the country. The study also emphasises the role of both supply-side and demand-side factors in controlling the menace; poverty alleviation reforms, development of social institutions in rural areas, and greater enforcement of child labour laws are strongly recommended. Journal: Forum for Social Economics Pages: 185-200 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2023.2185872 File-URL: http://hdl.handle.net/10.1080/07360932.2023.2185872 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:185-200 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2080753_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: William A. Jackson Author-X-Name-First: William A. Author-X-Name-Last: Jackson Title: The Ethics of Price Variation Abstract: Orthodox price theory turns on flexible prices that move frequently to maintain market-clearing equilibrium. Fixed prices are a source of market imperfections and failures. In the traditional ethics of pricing, by contrast, prices should be set at a just norm and stay there, with only rare amendments. The current paper examines these attitudes to price variation and finds them inadequate: orthodox economics is too supportive of continual price changes, while the traditional ethics dwell too much on the just price. A case is made for treating price stability as being distinct from the just price and valuable in itself. Rather than yearning for an elusive optimum, ethical assessment of pricing can then be based on acceptable ranges for the price level and price variation. Journal: Forum for Social Economics Pages: 201-215 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2022.2080753 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2080753 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:201-215 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2125423_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Carina Altreiter Author-X-Name-First: Carina Author-X-Name-Last: Altreiter Author-Name: Katharina Litschauer Author-X-Name-First: Katharina Author-X-Name-Last: Litschauer Title: Strategies of Capital Accumulation in Times of Land Scarcity. A Field Perspective on Social Housing Construction in Vienna Abstract: Recently, cities across Europe have experienced rising prices for land, construction and increasing housing costs. The question of how companies providing social housing mediate housing policies in light of increasing market challenges has been widely neglected. The article takes the case of Vienna to explore how limited-profit housing associations – the current main providers of social housing – navigate market changes. Following Bourdieu, the article employs a field approach to map the power relations governing the field of social housing construction and explore their influence on strategies for capital accumulation. Drawing on multiple correspondence analysis and qualitative interviews, the article shows that the city’s introduction of competitive tenders for building plots strengthened cultural and social capital over economic capital within the field. It provides an in-depth analysis of the market effects of housing policy instruments by locating their structuring effects in relational market configurations rather than solely focusing on housing market outcomes. Journal: Forum for Social Economics Pages: 216-232 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2022.2125423 File-URL: http://hdl.handle.net/10.1080/07360932.2022.2125423 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:216-232 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2329910_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Richard Wilson Borrozine de Siqueira Author-X-Name-First: Richard Wilson Author-X-Name-Last: Borrozine de Siqueira Title: Evaluation of Strategies to Combat COVID-19 and Results Achieved in the G20 Countries Abstract: This article analyzes the main strategies to combat COVID-19 in the G20 countries and the results obtained. In the study, we collected data and analyzed the policies, problems, and results achieved to combat the pandemic in these countries. We point out poly-dimensional problems that include social, economic, political, and health issues. We present lessons from this pandemic poly-crisis which are useful for preventing and managing new health emergencies. Journal: Forum for Social Economics Pages: 116-140 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2024.2329910 File-URL: http://hdl.handle.net/10.1080/07360932.2024.2329910 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:116-140 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2332777_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Barbara E. Hopkins Author-X-Name-First: Barbara E. Author-X-Name-Last: Hopkins Title: Introduction Abstract: This introduction provides an overview of the papers presented at the ASE Sessions at the ASSA 2024 exemplifying the theme: Retaining the Lessons of the Pandemic: Reclaiming the Social in Economic Policy to Address the Challenges of the Future. All three articles incorporate basic principles of social economics. Journal: Forum for Social Economics Pages: 113-115 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2024.2332777 File-URL: http://hdl.handle.net/10.1080/07360932.2024.2332777 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:113-115 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2329875_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Jessica Palka Author-X-Name-First: Jessica Author-X-Name-Last: Palka Title: The Potential of Participatory Social Economics: A Framework and Feminist Perspective Abstract: Recurrent economic, ecological and democratic crises provoke opportunities to critically examine previously unquestioned assumptions about economies, an effort which can include those people on which the theory and practice are usually designed and tested. This article claims that there is a role for participatory research (PR) approaches to play for social economists seeking to understand and support local problem-solving, especially in social economy activities and socioecological change processes. The objective of the article is twofold: first, a simple framework for understanding the different manifestations of PR will be presented based on the degree to which a project has (a) scientific or transformative goals, and (b) hierarchical or democratic decision-making. Second, this text will discuss the kind of PR that is ethically and epistemologically compatible with social economic scholarship. This theoretical argument is grounded in feminist, Black and Indigenous principles of (1) highlighting subjective and socially-embedded perspectives, (2) critically interrogating power dynamics within research contexts and processes, and (3) ethically engaging participants in collaborative research. Such an approach aims to dismantle the hierarchical binary between scientific and non-scientific knowledges, with social economists actively contributing to collective problem-solving efforts rather than acting as detached observers and planners. Journal: Forum for Social Economics Pages: 141-169 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2024.2329875 File-URL: http://hdl.handle.net/10.1080/07360932.2024.2329875 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:141-169 Template-Type: ReDIF-Article 1.0 # input file: RFSE_A_2333873_J.xml processed with: repec_from_jats12.xsl darts-xml-transformations-20240209T083504 git hash: db97ba8e3a Author-Name: Marlene Kim Author-X-Name-First: Marlene Author-X-Name-Last: Kim Title: Race and Ethnicity in the Economics Profession: Problems and Remedies Abstract: Blacks, Latinx, and Native Americans are severely underrepresented in economics. They report hostility, discrimination, bias, and feeling invisible and ignored. They experience discrimination in their earnings and feel unfairly treated. Economic theory and the typical curriculum fail to consider the lives and experiences of underrepresented minorities. The lack of underrepresented minorities perpetuates when students fail to connect to mentors and role models whom they feel they may be able to communicate with and relate to. Structural theories of inequality explain these patterns; gendered racism and stereotype bias explain the variation among racial and ethnic groups. These problems and others are discussed, as well as solutions to increase racial diversity in the economics profession. Journal: Forum for Social Economics Pages: 170-184 Issue: 2 Volume: 53 Year: 2024 Month: 4 X-DOI: 10.1080/07360932.2024.2333873 File-URL: http://hdl.handle.net/10.1080/07360932.2024.2333873 File-Format: text/html File-Restriction: Access to full text is restricted to subscribers. Handle: RePEc:taf:fosoec:v:53:y:2024:i:2:p:170-184