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This chapter is about the modern (Western) educational regime, educational industry paradigm and schooling process, while focussing on statutorily imposed and legally enforced…
Abstract
This chapter is about the modern (Western) educational regime, educational industry paradigm and schooling process, while focussing on statutorily imposed and legally enforced schooling as the main aspect of the hidden curriculum within a globalizing world.
It is about children's productive labour through schooling, whereby children's labour power is consumed, produced and reproduced on behalf of social formations under the capitalist mode of production (CMP).
The claim that a well-educated population is essential for development so that all societies share an interest in having children participate in schooling as much as possible is the central element of the Western education industry paradigm, the global appeal of which is reflected in how compulsory schooling has been embraced almost everywhere in conjunction with being heavily promoted within the ‘international community’ and widely endorsed by researchers, scholars and similar observers.
Contrary to Bowles and Gintis's correspondence principle, the structure of schooling is not an identical to the structure of the workplace in that it entails compulsion, whereby schooling is as efficient and effective as possible in meeting the needs of the CMP.
The CMP benefits from the state having shifted confinement as a mechanism to force people to work onto schooling; or, from compulsory social enclosure, whereby schools increasingly resemble military and prison systems.
Compulsory social enclosure helps to ensure that children's productive capacity – or labour power – is enhanced to the benefit of the CMP, this being the major factor in accounting for its appeal and advance on the world stage, globally.
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Johanna Sumiala, Katja Valaskivi, Minttu Tikka and Jukka Huhtamäki
Alex Frino, Jennifer Kruk and Andrew Lepone
This chapter examines the price impact of large trades in futures markets across 14 stock index futures contracts in 11 different international markets. On the balance, we find…
Abstract
This chapter examines the price impact of large trades in futures markets across 14 stock index futures contracts in 11 different international markets. On the balance, we find that part of the initial price effect of futures trades is temporary. These initial price effects are partially reversed, implying that they incur a liquidity premium; though there is some variation in this finding across markets. We also find strong evidence that large buyer- and seller-initiated trades have positive and negative permanent effects on prices, implying they convey information. We conclude, similar to research based on equities markets, that traders in futures markets are informed.
Johanna Sumiala, Katja Valaskivi, Minttu Tikka and Jukka Huhtamäki