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For nearly 80 years, the field of macroeconomics has largely been shaped by the aftermath of the Keynesian revolution. Many economists have argued that this revolution and the subsequent internal and external disputes it has sparked have had the unfortunate side effect of crowding out much of what was good in macro-level analysis before it, leading to the dissatisfactory state of macroeconomics we have today. In the search for alternative paths for macroeconomics, I focus on two separate but compatible traditions: monetary disequilibrium (MD) theory and the Austrian business cycle theory (ABCT). I argue that scholars in these traditions employed a far richer micro-theoretic explanation for the business cycle well before Keynes’s General Theory. Unfortunately, their ideas were not united in time to mount a sufficient counterattack to the Keynesian crusade. My goal is to unite the best elements of these two traditions by providing what I believe is the “missing link” that can help connect these alternative paths: free banking theory.

The purpose of this review is to summarize existing literature on the causes and impacts of the magnitude of the COVID-19 pandemic on people and businesses, and to propose a conceptual framework for the global economic recovery. The study used existing most recent empirical literature from available for exploring of the magnitude causes and effects of the COVID-19 pandemic on the people and business and summarized the way of the world economic system. The review study uncovered that people and businesses are suffering from vulnerability scenarios that have causes and effects on current macroeconomic and microeconomic indicators. In addition, microeconomic indicators have affected in the categories of unemployed who are soaring, lowering incomes, increasing health spending, household spending, low productivity, mental stress, decreased consumption, social imbalance, collapsing commodity prices and so on. Nevertheless, macroeconomic indicators have affected in the categories of the global financial crisis, supply and demand, capital market volatility, disruption of fiscal policy, monetary policy, aviation industry, international tourism and hospitality, world trade, and high unemployment. The present study concluded that all government and non-government agencies have to play a major and mature role not only in developing of right policies and laws but also in ensuring practices and coordination as well as increase public and business awareness accordingly. The study summarized strategic and policy guideline for the recovery of the global economy by strengthening the health care system, commodity market volatility fix-up, financial market restructuring, resumption of manufacturing and economic activity, special care for micro-, small- and medium-scale enterprises, mitigate the unemployment problem, recovery package for tourism, hospitality and aviation sector, strengthening the global supply chain network, impacts on global immigration and remittance issues and develop sustainable development framework accordingly for recovery of the world economy.

This chapter addresses inequalities in the United Kingdom through the lens of health inequalities. Driven by inequalities in income and power, health inequalities represent a microcosm of wider debates on inequalities. They also play a role as the more politically unacceptable face of inequalities – where other types of inequality are more blatantly argued as collateral damage of advanced neoliberalism including ‘inevitable’ austerity measures, politicians are more squeamish about discussing health inequalities in these terms.

The chapter starts by depicting health inequalities in Scotland and summarises health policy analyses of the causes of, and solutions to, health inequalities. It then describes the concept of ‘proportionate’ universalism’ and sets this within the context of debates around universal versus targeted welfare provision in times of fiscal austerity.

It then turns to a small empirical case-study which investigates these tensions within the Scottish National Health Service. The study asks those operating at policy and practice levels: how is proportionate universalism understood; and, is it a threat or ballast to universal welfare provision?

Findings are discussed within the political context of welfare retrenchment, and in terms of meso- and micro-practices. We conclude that there are three levels at which proportionate universalism needs to be critiqued as a means of mitigating the impacts of inequalities in the social determinants of health. These are within the political arenas, at a policy and planning level and at the practice level where individual practitioners are enabled or not to practice in ways that might mitigate existing inequalities.

This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development of their ideas by Ludwig von Mises and F. A. Hayek. In discussing the main ideas of Mises and Hayek, we focus on how their work provided the foundations for the modern Austrian school, which included Ludwig Lachmann, Murray Rothbard and Israel Kirzner. These scholars contributed to the Austrian revival in the 1960s and 1970s, which, in turn, set the stage for the emergence of the contemporary Austrian school in the 1980s. We review the contemporary development of the Austrian school and, in doing so, discuss the tensions, alternative paths, and the promising future of Austrian economics.

The sharp increase in interest in social networks among marketing scholars and practitioners has coincided with the rapid proliferation of social networks among broader populations. Considering the substantial body of research that has emerged, it is an opportune time to reflect on the state of social network research (SNR) in marketing. Therefore, this chapter reviews recent marketing research, organized according to substantive areas of interest, followed by a discussion of critical dimensions of SNR for researchers, including network actor characteristics, modes, boundaries, impacts, and mechanisms, as well as the relevant level of analysis. By documenting how SNR can inform marketing decisions and influence marketing outcomes, this study also establishes recommendations for research to advance the state of SNR in marketing. A 2 × 2 classification schema reveals four categories that might guide scholars' choices of research designs, theories, constructs, and measures for SNR.

The typical corporation is based on free capital markets, and in general, on the free market capital system for all its factors of production, distribution, and consumption. Hence, this chapter studies the economic, legal, ethical, and moral goodness and promise of the Free Enterprise Capitalist System (FECS) as it exists and thrives in the open and free economies of the world. We will review several versions of FECS starting from Thomas Aquinas (1225–1274) views on private property, Thomas Hobbes’ (1588–1679), The Leviathan (1651), Adam Smith (Wealth of Nations, 1776), Max Weber (The Protestant Ethic and the Spirit of Capitalism, 1904/1958) to modern defenses of capitalism by David Bollier (Aiming Higher, 1997), Raghuram Rajan and Luigi Zingales (Saving Capitalism from Capitalists, 1998, 2004), C. K. Prahalad (2005) on Inclusive Capitalism, Nitesh Gor (The Dharma of Capitalism, 2012), and John Mackey and Raj Sisodia (Conscious Capitalism, 2014), to name a few. Based on these seminal authors and subsequent theoretical developments, this chapter seeks to defend, save, and uphold the goodness of the FECS along multiple viewpoints such as economics, management, law, ethics, morals, and executive spirituality.