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Article
Publication date: 6 September 2011

Patrick Marren

The purpose of this paper is to examine widespread assumptions about things that are deemed inevitable, but which might not happen, or which might have far less impact

Abstract

Purpose

The purpose of this paper is to examine widespread assumptions about things that are deemed inevitable, but which might not happen, or which might have far less impact than previously thought.

Design/methodology/approach

Essay.

Findings

Some events that are thought to be inevitable actually never take place; and business executives should be prepared for these non‐events as least as much as for those that do take place.

Originality/value

Examines these issues in what is hoped to be a unique way.

Details

Journal of Business Strategy, vol. 32 no. 5
Type: Research Article
ISSN: 0275-6668

Keywords

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Book part
Publication date: 9 July 2010

Greta R. Krippner

This article argues that the financial crisis has brought to the surface a series of dilemmas that have their origins in the declining affluence of the U.S. economy in the…

Abstract

This article argues that the financial crisis has brought to the surface a series of dilemmas that have their origins in the declining affluence of the U.S. economy in the late 1960s and 1970s. When growth faltered beginning in the late 1960s, policymakers confronted difficult political choices about how to allocate scarce resources between competing social priorities. Inflation offered a means of avoiding these trade-offs for a time, disguising distributional conflicts and financing an expansive state. But the “solutions” that inflation offered to the end of growth became increasingly dysfunctional over the course of the 1970s, setting the stage for the turn to finance in the U.S. economy. Paradoxically, the turn to finance operated as the functional equivalent of inflation, similarly allowing policymakers to avoid difficult political choices as limits on the nation's prosperity became more constraining. But the turn to finance no more resolved these underlying issues than did inflation, and as a result the recent financial crisis likely augurs the return of distributional politics to center stage in American political and social life.

Details

Markets on Trial: The Economic Sociology of the U.S. Financial Crisis: Part B
Type: Book
ISBN: 978-0-85724-208-2

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Book part
Publication date: 15 October 2019

Steven Pressman

This paper focuses on two books that Robert Heilbroner wrote with Peter Bernstein on public finance – A Primer on Government Spending (1963) and The Debt and the Deficit

Abstract

This paper focuses on two books that Robert Heilbroner wrote with Peter Bernstein on public finance – A Primer on Government Spending (1963) and The Debt and the Deficit (1989). It also discusses how the economic world changed between the early 1960s and the late 1980s, and how these changes affected their books. Primer introduced Keynesian economics, and the possibility that government policy and deficits could be forces for good in the world. Debt focused exclusively on government deficits and public debt. Changing circumstances made this work a more difficult undertaking. During the late 1950s and early 1960s, government budget deficits were small, growth was sluggish, and Keynesianism was the dominant paradigm in macroeconomics. Primer explained Keynesian public finance, why tax cuts would spur spending and growth, and why we should not worry about government debt under these circumstances. By the 1980s, Keynes was vanquished, deficits were ballooning, and Keynesian public finance was under attack. Contrary to the conventional wisdom at the time, Debt advocated government deficits along the lines proposed by Keynes but not along the lines enacted during the Reagan administration. Nonetheless, there were many similarities in these two works. Both made a case for an active government role in creating a good society; and both argued that when done correctly deficit spending created no economic problems and had many benefits.

Details

Including a Symposium on Robert Heilbroner at 100
Type: Book
ISBN: 978-1-78769-869-7

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Article
Publication date: 28 August 2009

Carlos F. Liard‐Muriente and Michael Meeropol

The purpose of this paper is to analyze and understand the Rubinomics hypothesis or the argument that “fiscal discipline” will bring private investment to a growth path as…

Abstract

Purpose

The purpose of this paper is to analyze and understand the Rubinomics hypothesis or the argument that “fiscal discipline” will bring private investment to a growth path as a result of a decrease in real interest rates, during the 1990s in the USA.

Design/methodology/approach

The paper relies on a range of previously published works and macroeconomic data to test the Rubinomics hypothesis.

Findings

The paper concludes based on data from the experience of the US economy during the 1990s that the evidence does not validate the arguments of Rubinomics.

Originality/value

The “crowdingout” debate is an important controversy in macroeconomics. By shedding light over this controversial issue, this paper shows that the US experience during the so‐called roaring 1990s, a period of extraordinary “fiscal discipline,” did not follow the classical crowdingout hypothesis.

Details

Humanomics, vol. 25 no. 3
Type: Research Article
ISSN: 0828-8666

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Article
Publication date: 13 March 2009

Mason Gaffney

A tax based on land value is in many ways ideal, but many economists dismiss it by assuming it could not raise enough revenue. Standard sources of data omit much of the…

Abstract

Purpose

A tax based on land value is in many ways ideal, but many economists dismiss it by assuming it could not raise enough revenue. Standard sources of data omit much of the potential tax base, and undervalue what they do measure. The purpose of this paper is to present more comprehensive and accurate measures of land rents and values, and several modes of raising revenues from them besides the conventional property tax.

Design/methodology/approach

The paper identifies 16 elements of land's taxable capacity that received authorities either trivialize or omit. These 16 elements come in four groups.

Findings

In Group A, Elements 1‐4 correct for the downward bias in standard sources. In Group B, Elements 5‐10 broaden the concepts of land and rent beyond the conventional narrow perception, while Elements 11‐12 estimate rents to be gained by abating other kinds of taxes. In Group C, Elements 13‐14 explain how using the land tax, since it has no excess burden, uncaps feasible tax rates. In Group D, Elements 15‐16 define some moot possibilities that may warrant further exploration.

Originality/value

This paper shows how previous estimates of rent and land values have been narrowly limited to a fraction of the whole, thus giving a false impression that the tax capacity is low. The paper adds 14 elements to the traditional narrow “single tax” base, plus two moot elements advanced for future consideration. Any one of these 16 elements indicates a much higher land tax base than economists commonly recognize today. Taken together they are overwhelming, and cast an entirely new light on this subject.

Details

International Journal of Social Economics, vol. 36 no. 4
Type: Research Article
ISSN: 0306-8293

Keywords

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Book part
Publication date: 12 February 2021

Kamal Ab Hamid, Shahrizal Badlishah and Abdul Rahman Jaaffar

The abolishment of Goods and Services Tax (GST) has had the effect of reversing an initial success in broadening the country's tax base. In contrast, the abolishment of…

Abstract

The abolishment of Goods and Services Tax (GST) has had the effect of reversing an initial success in broadening the country's tax base. In contrast, the abolishment of GST has had the effect of reversing an initial success in broadening the country's tax base. Moreover, the government has a better capability of managing debt than the private sector due to its central bank with fiat money. However, Malaysia's total reserves have not increased significantly in recent times, despite the trade surplus, given the movement in the financial accounts. In such circumstances, it is incumbent on the government to expand its balance sheet to pick up the slack of the private sector. Hence, the reform agenda has restored Malaysia's image globally. More importantly, a reminder from the great recession of 2008 is that the private sector, when faced with great uncertainty, cannot continuously provide employment. However, before policymakers ponder to the views of rating agencies, they need to consider the points above and debate among themselves about what is truly in Malaysia's best interest. As the matter of fact, manufactured goods accounted for some 86% of Malaysia's total exports. We see no conflict of “crowding out” if the government and government-related companies take on radical risk that the private sector is unwilling or incapable of taking on. In fact, manufactured goods accounted for some 86% of Malaysia's total exports. It is important that policymakers understand that the government's deficit is the private sector's savings. The direct cross-shareholdings of government linked corporations (GLCs) and its resultant crowding-out of private investors have received heightened policy priority by the government where major reshuffled on the reporting lines of various GLCs by ministries contributes cross-shareholdings of GLCs and its resultant crowding-out of private investors.

Details

Modeling Economic Growth in Contemporary Malaysia
Type: Book
ISBN: 978-1-80043-806-4

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Abstract

Details

Management for Scientists
Type: Book
ISBN: 978-1-78769-203-9

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Article
Publication date: 1 January 1987

Lester W. Milbrath

If cultural evolution is purposive cities should have improved the quality of human life. City life is examined first in relation to the satisfaction of human needs. The…

Abstract

If cultural evolution is purposive cities should have improved the quality of human life. City life is examined first in relation to the satisfaction of human needs. The inner areas of giant cities are perceived by their inhabitants as undesirable places to live. But the special problems of giant cities when subject to closer analysis are seen to be rooted in the larger pathology of the thrust for growth and power in modern civilisation.

Details

International Journal of Sociology and Social Policy, vol. 7 no. 1
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 1 March 2011

Heather Wyatt-Nichol

The American Dream functions as a myth within our political discourse by providing hope to citizens and reinforcing beliefs in the protestant work ethic and meritocracy…

Abstract

The American Dream functions as a myth within our political discourse by providing hope to citizens and reinforcing beliefs in the protestant work ethic and meritocracy. This article examines the myth through categories of mobility, marginalization, and hope. Elite theory and institutional isomorphism are used to explore business privilege within Public Administration. The ability to reframe the American Dream is considered through an examination of select speeches at the 2008 Democratic National Convention. Despite evidence of declining mobility and structural inequality, citizens cling to the myth. One explanation is that marginalization perpetuates the American Dream by crowding out issues of social class through various methods of institutional isomorphism. Another explanation is that the dream endures because it can be re-conceptualized.

Details

International Journal of Organization Theory & Behavior, vol. 14 no. 2
Type: Research Article
ISSN: 1093-4537

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Book part
Publication date: 10 June 2019

Jeb Barnes

Litigation is part of the American policymaking playbook as diverse groups routinely turn to courts to pursue their agendas. All of this litigation raises questions about…

Abstract

Litigation is part of the American policymaking playbook as diverse groups routinely turn to courts to pursue their agendas. All of this litigation raises questions about its consequences. This essay examines the literature on the political risks of litigation. It argues that this literature identifies four potential risks – crowd out, path dependence, backlash, and individualization – but offers less insight into the likelihood of these risks in practice. It ends by offering suggestions about how to advance our understanding of when litigation casts a negative political shadow in the current age of judicialization.

Details

Studies in Law, Politics, and Society
Type: Book
ISBN: 978-1-78973-727-1

Keywords

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