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Government agencies have endeavored, with limited success, to improve the methodological consistency of regulatory benefit–cost analysis (BCA). This paper recommends that an independent cohort of economists, policy analysts and legal scholars take on that task. Independently established “best practices” would have four positive effects: (1) they would render BCAs more regular in form and format and, thus, more readily assessable and replicable by social scientists; (2) improved consistency might marginally reduce political opposition to BCA as a policy tool; (3) politically-motivated, inter-agency methodological disputes might be avoided; and (4) an independent set of “best practices” would provide a sound, independent basis for judicial review of agency BCAs.

Despite the general presumption in favor of trade liberalization, the question of how to implement it in a way to ensure equitable income distribution and sustainable poverty alleviation in developing countries is at the core of the current trade debate. We build a macroeconomic framework that integrates both market and non-market activities, while distinguishing male and female workers throughout, in order to evaluate impacts of tariffs elimination on men and women in South Africa. Our study reveals a strong gender bias against women with a decrease in their labor market participation, while men participate more in the market economy. This strong result is due to the fact that female workers are concentrated in contracting sectors that were initially among the protected sectors and that benefit little from the fall in input prices. In contrast, male workers are more concentrated in the expanding export-intensive sectors. Female labor market participation drops particularly for Black African women, as they are more concentrated in contracting sectors. As male labor market participation and real wages increase more than for their female counterparts, their income share increases within the household. Women continue to suffer nonetheless from a heavy time use burden given their increased domestic work with trade liberalization.

The paper focuses on the question of the extent to which individual preference-based values are suitable in guiding environmental policy and damage assessment decisions. Three criteria for “suitableness” are reviewed: conceptual, moral and legal. Their discussion suggests that: (i) the concept of economic value as applied to environmental resources is a meaningful concept based on the notion of trade-off; (ii) the limitations of the moral foundations of cost-benefit analysis do not invalidate its use as a procedure for guiding environmental decision making; (iii) the input of individual preferences into damage assessment is compatible with the basic foundations of tort law; (iv) using individual preference-based methods provides incentives for efficient levels of due care; (v) determining standing is still very contentious for various categories of users as well as for aggregating non-use values. Overall, the discussion suggests that the use of preference-based approaches in both the policy and legal arenas is warranted provided that they are accurately applied, their limitations are openly acknowledged and they assume an information-providing rather than a determinative role.

This chapter concerns itself with a garment factory in Trinidad, West Indies, producing brand-name clothing for the Eastern Caribbean market. Workers in this factory not only stitch garments for an hourly wage; but also stealthily operate a secondary assembly line, creating precise duplicates of the factory's products for themselves to take home and wear. Manufactured on the shop-floor alongside “legitimate” production, the copied garments are identical in every way to the genuine ones they mimic. In this chapter, I argue that workers have created a “loop” in the value chain: a simultaneous moment in which they are both producers and consumers of the factory's products. While “genuine” garments circulate through market-capitalist networks of exchange, copied garments only circulate through social networks – thereby accruing and representing forms of “value” that are distinct from market value. By looping the value chain, factory workers create non-market values alongside market-oriented ones, showing both sets of values to be interdependent. Workers’ own commentary on these processes offers a unique window onto contested meanings of “value” at work on the shop-floor.

Universities face incredibly difficult, complex decisions concerning the degree to which they participate in the process of commercializing research. The U.S. government has made an explicit policy decision to allow funded entities to obtain patents and thereby has encouraged participation in the commercialization of federally funded research. The Bayh-Dole Act enables universities to participate in the commercialization process, but it does not obligate or constrain them to pursue any particular strategy with respect to federally funded research. Universities remain in the driver's seat and must decide carefully the extent to which they wish to participate in the commercialization process.The conventional view of the role of patents in the university research context is that patent-enabled exclusivity improves the supply-side functioning of markets for university research results as well as those markets further downstream for derivative commercial end-products. Both the reward and commercialization theories of patent law take patent-enabled exclusivity as the relevant means for fixing a supply-side problem – essentially, the undersupply of private investment in the production of patentable subject matter or in the development and commercialization of patentable subject matter that would occur in the absence of patent-enabled exclusivity.While the supply-side view of the role of patents in the university research context is important, a view from the demand side is needed to fully appreciate the role of patents in the university research context and to fully inform university decisions about the extent to which they wish to participate in the commercialization process. Introducing patents into the university research system, along with a host of other initiatives aimed at tightening the relationship between universities and industry, is also (if not primarily) about increasing connectivity between university science and technology research systems and the demands of industry for both university research outputs (research results and human capital) and upstream infrastructural capital necessary to produce such outputs.In this chapter, I explore how university science and technology research systems perform economically as infrastructural capital and explain how these systems generate social value. I explain how the availability of patents, coupled with decreased government funding, may lead to a slow and subtle shift in the allocation of infrastructure resources.

This paper documents the case of La Verde, a producer cooperative in Andalusia, Southern Spain, whose members grow and sell organic fruit and vegetables. Fieldwork data reveal a range of assessments and practices with respect to just price. Historical experiences of working as day laborers, with little access to cash or other resources informs the members’ radical political views on money, prices, and markets. These ideas modulate exchanges at the local level, and in their political networks. However, working their own land and selling a prized product allows them to generate good market returns from private shopkeepers in cities. The paper proposes that for a price to be considered just, criteria for commensuration, or equivalence between a price and the perceived value of an object must adhere, but adjudications about this vary according to the relationship between exchangers. Rather than an objective just price, the paper considers assessments and judgments about the relation between prices and justice to be contextually defined, contested, and negotiated.