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Book part
Publication date: 28 November 2016

Domen Bajde and Lydia Ottlewski

We introduce the concept of social-economic innovation (SEI) and point to cultural challenges involved in instituting SEI. In the second part of the paper, we delve into…

Abstract

Purpose

We introduce the concept of social-economic innovation (SEI) and point to cultural challenges involved in instituting SEI. In the second part of the paper, we delve into the alternative exchange system of “Housing for help” (HFH) to explore the challenging negotiation of roles and relations by participants and organizers of HFH.

Methodology/approach

The study primarily relies on interviews conducted with HFH participants and organizers.

Findings

We outline the challenges of categorization and slippage in social-economic exchange systems that combine multiple logics of exchange. While primarily focused on the micro context of relational dynamics occurring between participants, the respective cultural challenges are also discussed in light of institutional problems.

Research limitations/implications

The introduction of the concept of SEI prepares ground for a more coordinated study of the cultural processes and challenges involved in instituting unconventional social-economic systems. The paucity of existent research and the preliminary nature of our study call for further investigation.

Practical implications

The study informs individual and institutional efforts to negotiate unconventional systems of exchange, in particularly in contexts of prolonged, intergenerational co-habitation.

Originality/value

We provide an umbrella concept that ties together existent research and opens new avenues for systematic cultural study. Further, we uncover a fertile context for exploration and take preliminary steps toward unraveling the challenging relational dynamics in SEI.

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Article
Publication date: 3 July 2020

Teppo Eskelinen and Juhana Venäläinen

This paper explores economic moralities in self-organised alternative economies and argues that the diverse economies approach is particularly useful in elaborating the…

Abstract

Purpose

This paper explores economic moralities in self-organised alternative economies and argues that the diverse economies approach is particularly useful in elaborating the self-understandings of such economic communities. The analysis focuses on two types of alternative economies in Finland: ridesharing and timebanking.

Design/methodology/approach

Through qualitative data, the paper looks into moments of negotiation where economic moralities of self-organised alternative economies are explicitly debated. The main research data consists of social media conversations, supplemented by a member survey for the participants of the studied timebank. The data are analysed through theory-guided qualitative content analysis.

Findings

The analysis shows that the moments of negotiation within alternative economies should not be understood as simple collisions of mutually exclusive ideas, but rather as complex processes of balancing between overlapping and partly incommensurable economic moralities. While self-organised alternative economies might appear as functionally uniform at the level of their everyday operations, they still provide considerable leeway for different conceptions of the underlying normative commitments.

Originality/value

To date, there is little qualitative research on how the participants of self-organised alternative economies reflect the purpose and ethics of these practices. This study contributes to the body of diverse economies research by analysing novel case studies in the Finnish context. Through empirical analysis, this paper also provides a theoretical framework of how the different economic moralities in self-organised alternative economies can be mapped.

Details

International Journal of Sociology and Social Policy, vol. 41 no. 5/6
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 11 April 2016

Lucie K. Ozanne and Julie L. Ozanne

Time banking is a form of alternative consumer market where members trade services, non-reciprocally creating a local marketplace for services. Time Banks facilitate…

Abstract

Purpose

Time banking is a form of alternative consumer market where members trade services, non-reciprocally creating a local marketplace for services. Time Banks facilitate dyadic exchanges, meeting members’ practical needs and building diverse skills. The purpose of this research was to determine the broad capabilities developed in the Time Bank economy, and to demonstrate how these capabilities were mobilised following a series of earthquakes, contributing to the larger community’s resiliency.

Design/methodology/approach

Taking an ethnographic approach, data were collected using a variety of methods including interviews, focus groups, participant observation and secondary research.

Findings

Over time, this alternative consumer market developed a significant communication and social network that members activated to solve diverse practical problems facing the community. Similar to other exchange communities, the Time Bank also fostered a strong sense of community based on reciprocity and egalitarian values. Although the Time Bank was created as a marketplace to exchange local services, during a series of devastating earthquakes, it galvanised adaptive capacities, increasing the resiliency of the local community during disaster relief and reconstruction.

Research limitations/implications

The data were drawn from one alternative exchange system in New Zealand.

Practical implications

The study shows how grassroots alternative consumer markets like Time Banks build community capacities alongside the formal economy. During normal times, this system meets consumer needs, but in extraordinary times, this system provides community shock absorbers, thereby enhancing community resiliency.

Social implications

The Time Bank was particularly adept at leveraging local knowledge to provide social support to those residents who were most vulnerable.

Originality/value

Data were collected before, during, and after the earthquakes, providing a rare opportunity to explore the process of community resiliency in action. This research extends existing theories of community resiliency explaining the development and activation of capacities by a local alternative consumer market.

Details

European Journal of Marketing, vol. 50 no. 3/4
Type: Research Article
ISSN: 0309-0566

Keywords

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Article
Publication date: 11 January 2011

Carol M. Connell

The purpose of this paper is to examine Fritz Machlup's method and use of scenario analysis in the policy discussions around exchange rate solutions to balance of payments…

Abstract

Purpose

The purpose of this paper is to examine Fritz Machlup's method and use of scenario analysis in the policy discussions around exchange rate solutions to balance of payments problems.

Design/methodology/approach

The qualitative research on which this paper is based is the sociohistorical biographical approach, based on a close examination of published works and archival materials.

Findings

What makes Machlup unique is his focus on the impact to an economic system of discrete human actions, each set of actions associated with a change in exchange rate policy and the operations and institutions necessary to implement it. Impact on the system was evaluated in terms of three values – balance of payments adjustment, liquidity and confidence. In his use of a system's approach, his focus on change and adjustment to change, and most particularly his focus on human action, Machlup is also distinctively Austrian.

Research limitations/implications

This is the first paper generated from the author's far larger planned study of Fritz Machlup and the Bellagio Group.

Practical implications

The collaborative exploration of alternative futures by senior teams has become increasingly important to strategic planning by governments and corporations.

Originality/value

The story of the Fritz Machlup's contribution to exchange rate regimes, international trade and the balance of payments has remained largely untold.

Details

Journal of Management History, vol. 17 no. 1
Type: Research Article
ISSN: 1751-1348

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Article
Publication date: 17 August 2015

Rolf F.H. Schroeder

The purpose of this paper is to provide an overview of the Tausch- or barter-centers that existed in Germany during the 1940s. These small but unique platforms for the…

Abstract

Purpose

The purpose of this paper is to provide an overview of the Tausch- or barter-centers that existed in Germany during the 1940s. These small but unique platforms for the exchange of consumer durables represent an almost unknown chapter in economic history. This contribution aims to describe the major characteristics of these organizations and to investigate the implications of these findings for community currencies in general.

Design/methodology/approach

An analysis is conducted of primary sources, which bring to light different types of these alternative markets. This is complemented by a comprehensive study of secondary sources.

Findings

Theoretically, these exchange systems are interpreted as operating within boundaries. The results of this research project are not only relevant for our understanding of the war and post-war economy in Germany, at a time when the market mechanism was suppressed, this peculiar case also sheds some light on the functioning of markets. Furthermore, a better knowledge of the structure of the Tausch- or barter-centers is relevant with regard to our understanding of the functioning of community currencies in general.

Originality/value

This paper provides the first survey of these organizations.

Details

Journal of Historical Research in Marketing, vol. 7 no. 3
Type: Research Article
ISSN: 1755-750X

Keywords

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Abstract

Details

Economics, Econometrics and the LINK: Essays in Honor of Lawrence R.Klein
Type: Book
ISBN: 978-0-44481-787-7

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Article
Publication date: 3 February 2021

Mohammed Sawkat Hossain

The authors make a fundamental initial effort to conduct a systematic review analysis on “cryptocurrency,” mainly to analyze the way it has been changing the “stereotype”…

Abstract

Purpose

The authors make a fundamental initial effort to conduct a systematic review analysis on “cryptocurrency,” mainly to analyze the way it has been changing the “stereotype” financial transactions, and also identify the probable unexplored research avenues on this innovative investment regime. The study aims to draw the landscape of the current state, prospects, challenges, trends and possible agendas of cryptocurrency in the global market.

Design/methodology/approach

Using a quali-quantitative approach widely known as meta-literature review, the synthesis analysis on “cryptocurrency” is conducted. Methodologically, the authors review and analyze the most recent and relevant papers preferably published between 2016 and 2020 in leading business and finance journals of ISI Web of Science (ISI WOS) through bibliometric analysis particularly coupled with content analysis.

Findings

The findings of the meta-analysis summarize the relevant stylized facts of the cryptocurrency market: distinctive features of blockchain technology, decentralized payment method, low-cost facility, ensuring pseudo-anonymity, independence from central authority, double spending attack protection, organic and instantaneous nature, among others. In addition, the analysis identified several future research regimes: pricing model, prospect of investment regime, hedging properties, volatility dynamics, information asymmetry, underlying risk factors and bubble-like nature in global cryptocurrency market.

Practical implications

This academic novelty significantly contributes to enhance our knowledge on the current state-of-the-art of digital finance, outlines the research agenda and eventually provides important investment implications for financial managers, research analysts, investors, market practitioners, regulatory compliance professionals and policymakers. Therefore, the findings shed the lights on new investment opportunity in the global market.

Originality/value

Cryptocurrency, virtual currency or digital asset having cryptography for idiosyncratic security features, seems to be a persistent paradigm shift in the digitalized financial system. Despite the continuing growth, the academic research on cryptocurrency is still at nascent stage, particularly because researchers did not deeply draw attention at this financial innovation. In addition, the authors argue that none of the earlier studies yet conducted a meta-analysis on this latest investment regime. Therefore, this review study is the initial attempt to fill up the gap in the finance literature.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

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Article
Publication date: 1 February 1981

Peter G. McGregor

This study attempts to provide a systematic theoretical analysis of the portfolio selection approach to the determination of inter‐regional and international capital…

Abstract

This study attempts to provide a systematic theoretical analysis of the portfolio selection approach to the determination of inter‐regional and international capital flows, and to identify the implications of this analysis for the appropriate specification of short‐run econometric models of the foreign exchange market.

Details

Journal of Economic Studies, vol. 8 no. 2
Type: Research Article
ISSN: 0144-3585

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Abstract

Details

Special Edition: Financial Crisis - Environmental Crisis: What is the Link?
Type: Book
ISBN: 978-1-78052-670-6

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Book part
Publication date: 3 May 2007

Ayman Reda

Meadowcroft starts his discussion of the ethics of markets by stating that the primary feature of a market system is the right to self-ownership. The ownership of property…

Abstract

Meadowcroft starts his discussion of the ethics of markets by stating that the primary feature of a market system is the right to self-ownership. The ownership of property is derived from the right to the fruits of one's labor. This right to private property allows individuals to freely pursue their personal objectives, as it provides the unconstrained means to achieve one's ends. The logic that follows is that only within a market system with private property is the right to individual self-ownership preserved. On the contrary, a non-market system fails to satisfy individual objectives because individual objectives depend on the objectives of others, and as such, the objectives of some may be ignored or superseded (pp. 12–19).

Details

A Research Annual
Type: Book
ISBN: 978-0-7623-1422-5

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