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The current status of indigenous gifted children and youth in an ethno-linguistic diverse Andean country is presented. The major purposes of this chapter are: (a) to describe gifted education in Peru, underlining the advocacy efforts toward the indigenous population; (b) to analyze the provisions for talent development in Peru; and (c) to present the challenges for the Peruvian indigenous gifted in the future, taking into consideration the needs and challenges of a multicultural society.

One of the most significant changes in monetary economics at the beginning of the twenty-first century has been the virtual disappearance of what was once a dominant focus, the role of money in monetary policy, and parallelly, the disappearance of the liquidity preference-money supply (LM) curve. Economists used to consider monetary policy with the help of the LM curve as part of the analytical framework which captures the demand for money. However, the workhorse model of modern monetary theory and policy, the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) framework, only comprises the dynamic investment-savings (IS) curve, the New Keynesian (NK) Phillips curve, and a monetary policy rule. The monetary policy rule is generally known as the Taylor rule. It relates the nominal interest rate to the output-gaps and inflation-gaps, but typically not to either the quantity or the growth rate of money. This change in the modern monetary model reflects how the central banks make monetary policy now. This study provides a detailed discussion on the role of money in monetary policy formulation in the context of the NK and the New Monetarist perspectives. The pros and cons of abandonment of money or the LM curve from monetary policy models have been discussed in detail.

The growth of the healthcare industry since the middle of the nineteenth century has offered medical doctors a broad range of opportunities to develop their private practice. However, a major challenge was accessing the new medical technology at the core of this growth, as operation rooms, X-ray machines, laboratories and sterilization equipment were mostly centred in hospitals. Based on the case of Geneva, Switzerland, this chapter discusses the various strategies adopted by medical doctors to benefit from hospital infrastructure for their work. It demonstrates that collective entrepreneurship emerged at the end of the nineteenth century, when groups of doctors started to open collective clinics in response to the impossibility of using the infrastructure of the local public hospital linked to the University of Geneva. This heyday of collective private clinics lasted until the 1990s when listed companies and private investors took over and reorganized these private healthcare organizations.

We examine the effect of borrowing constraint facing new immigrants on the process of their assimilation in the new society. We shall do so in a two-period model. In period 1, immigrants invest, with some costs to them, in trying to assimilate. The probability of success in this endeavor depends on the amount invested and also on the level of the provision of a “public” good paid for by lump-sum taxation of “natives”. Those who succeed enjoy a higher level of productivity and therefore wages in period 2. The level of investment is endogenously determined. Assimilation also affects remittances by immigrants. Given this framework, we examine the effect of public support on the degree of assimilation and income repatriation. We do so under two scenarios regarding the credit market facing new immigrants. In the first, they can borrow as much as they want in period 1 at an exogenously given interest rate. In the second scenarios, there is a binding borrowing constraint. We compare the equilibrium under the two scenarios.

Institutions are collective responses to collective concerns, with the underlying link between concern and response being the purpose of the institution. With this conceptual lens, we analyze the history of the Aktiengesellschaft (AG), which emerged in Austria and Germany around 1800. While any analysis of the organizational features of the form would have diagnosed marked stability over the past two centuries, our historical study reveals significant shifts of the AG’s purpose and meaning: from a vehicle in the service of the public interest, shareholders, and employees to a persona with legitimate self-interests and the will to survive. We suggest to regard such purpose drifts as distinct variant of institutional change. In addition, we conclude that the AG’s essentially political actorhood institutionalizes the ever fragile and delicate quest for a balance between the different legitimate interests on whose behalf a corporation acts (including those of the self). Such a view, we argue, can offer a future for the corporation as organizational form.

Max Weber called the maxim “Time is Money” the surest, simplest expression of the spirit of capitalism. Coined in 1748 by Benjamin Franklin, this modern proverb now has a life of its own. In this paper, I examine the worldwide diffusion and sociocultural history of this paradigmatic expression. The intent is to explore the ways in which ideas of time and money appear in sedimented form in popular sayings.

My approach is sociological in orientation and multidisciplinary in method. Drawing upon the works of Max Weber, Antonio Gramsci, Wolfgang Mieder, and Dean Wolfe Manders, I explore the global spread of Ben Franklin’s famed adage in three ways: (1) via evidence from the field of “paremiology” – that is, the study of proverbs; (2) via online searches for the phrase “Time is Money” in 30-plus languages; and (3) via evidence from sociological and historical research.

The conviction that “Time is Money” has won global assent on an ever-expanding basis for more than 250 years now. In recent years, this phrase has reverberated to the far corners of the world in literally dozens of languages – above all, in the languages of Eastern Europe and East Asia.

Methodologically, this study unites several different ways of exploring the globalization of the capitalist spirit. The main substantive implication is that, as capitalism goes global, so too does the capitalist spirit. Evidence from popular sayings gives us a new foothold for insight into questions of this kind.