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Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Marketing products as guilt-free is not new, especially in the food industry, but what is new is the scope of ethical choice on offer and the variety and complexity of guilt-free narratives sold as part of the consumption package. The purpose of this paper is to present – and test – an innovative framework with which to analyse the key strategies in the creation of guilt-free narratives within the food industry and examine how consumer habits, motivations and attitudes are afforded by these narratives. The trend towards interpassivity, in which a consumer “outsources” moral responsibility to manufacturers, suppliers or retailers, is critically examined.

Data collection consisted of a non-probability quota sample of UK residents, administered online. There were three main areas of this study: consumers’ attitudes towards guilt-free products and marketing, consumers’ consumption habits and conscious-motivating factors and insights in unconscious-motivating factors. The questionnaire was designed to provide both qualitative and quantitative insights. It consisted of a variety of open-ended questions, as well as sets of given choices regarding habits and motivations, where the options were designed to encompass as many potential responses as necessary. The survey was shaped using a mini-focus group.

The paper demonstrates that consumers are in general willing to pay more for a guilt-free product but not for the reasons normally presented within the marketing literature. The paper shows that while self-accountability and anticipatory guilt are reasons for the effectiveness of guilt-free marketing, they are only minor factors. The paper shows that other motivating factors are more important as many participants buy products they do not entirely trust or have a particular preference for. One motive relates to interpassivity, that is, that guilt and guilt-alleviating actions can be transferred or delegated to the product itself.

The concept of interpassivity and the idea of transference of actions or emotions to products has potential for new marketing frameworks. There are many different coping mechanisms for guilt or shame, and these could all be packaged into products to arouse a preference with the consumer. The entire area of guilt-free marketing is under-researched but because of the continued growth in consumer guilt-mitigation strategies, it is likely to see a lot of research activity in the near future. The main limitation is the limited statistical analysis afforded by the non-probability nature of the sample.

The paper has developed a clearer definition of what constitutes a guilt-free product, that is, a guilt-free product is created when a regular product has any one or more of the three types of guilt (anticipatory, reactive and existential) packaged into it. Using this definition, the paper examined why guilt-free marketing has been effective, identifying that though consumers are willing to pay more for a guilt-free product, self-accountability and anticipatory guilt are only part of the explanation, with guilt and guilt-alleviating actions being transferred or delegated to the product itself a significant factor.

The paper has impacts for producers and consumers wishing to highlight the social good of a product. The study shows that consumers are sophisticated enough to examine social impact but often express a desire to delegate action to firms. Firms can more clearly frame their activity and contrast their action to the misleading marketing claims of rivals.

This paper is the first detailed analysis of guilt-free foods of its type. It seeks to create clearer definitions and frameworks with which to examine marketing practices and discourses of guilt in food consumption and marketing. The paper findings suggest that a relatively novel approach to consumption – interpassivity – is a useful explanation for otherwise puzzling consumer behaviour in a newly emerging area of guilt-free food marketing.

This paper aims to discuss the crises of free market capitalism in terms of its understanding of human nature. It reveals how recent market madness can be attributed to certain elements of human nature.

The paper uses a conceptual and philosophical approach to analyze crises of free market capitalism. It links both success and failure of capitalism to its understanding of human nature. It compares and contrasts economic assumptions of human nature in conventional and Islamic economics. It attempts to explain the 2008 financial crisis through a comprehensive theory of human nature.

It sheds some light on the irrational aspect of human nature as the driving factor behind the 2008 financial crisis. It elaborates on the importance of knowing self for knowing human decisions in free market economy. It concludes with the need for a comprehensive theory of human nature to predict and prevent irrational and irresponsible behaviors of populist politicians, greedy capitalists and conspicuous consumers. The paper also reflects on the 2013 Nobel Prize in economics as a victory for the study of human nature.

The paper offers a new perspective to understand crises of free market capitalism.

Since the appearance of Simon Rottenberg's seminal paper on the baseball players' labour market in the Journal of Political Economy (1956), the literature on the economics of professional team sports has increased rapidly, fuelled by major changes in the restrictive rules which had pervaded these sports, themselves a consequence of battles in the courts and the collective bargaining arena. These changes have not been limited to North America, to which most of the literature relates, but also apply to Western Europe and Australia in particular. This monograph surveys this literature covering those various parts of the world in order to draw out both theoretical and empirical aspects. However, to argue that the existence of what is now an extensive literature “justifies” such a survey on professional team sports clearly begs a number of questions. Justification can be found in at least two major aspects.

The purpose of this paper is to review Advertising in a Free Society – a defence of the advertising industry – by Ralph Harris and Arthur Seldon, and to evaluate its status as a justifiable forgotten classic of the marketing literature.

Advertising in a Free Society is placed in historical context (the Cold War), summarised and reviewed.

During the 1950s, as the UK experienced a period of affluence and growing consumerism, the advertising industry was again subject to the criticisms that had been levelled at it by influential scholars in the late nineteenth and early twentieth centuries. Against this context, Advertising in a Free Society deserves to be remembered as one of the earliest defences of advertising and remains highly relevant. Harris and Seldon were leading figures in the Institute of Economic Affairs (IEA), joining shortly after its inception, which became an influential group both in the UK and abroad, influencing policy on free markets.

Although Advertising in a Free Society attracted few citations (going out of print between its publication in 1959 and 2014 when it was republished by the IEA), and largely forgotten by marketing scholars, it provides a significant source for marketing historians interested in advertising criticism, the growth of the British advertising industry and the role of advertising in democratic societies. A reanalysis of the text situated in its historical context – the height of the Cold War – reveals that the text can be viewed as an artefact of the conflict, deploying the rhetoric of the period in defending the advertising industry and highlighting the positive role that advertising could make in free societies.

If we accept the logic of mainstream free‐market ideology‐based macroeconomic theory, the European Central Bank should, to maximise economic efficiency, be independent of political influence. It is easy to forget that such an understanding of the economy was discredited by the great 1930s slump and banished from government policy in the “Golden Age” of capitalism, between 1950 and 1973. Proposes to move beyond the free‐market/monetarist/new‐classical consensus to consider if the row over who should head the ECB is as trivial as it seems. First considers the work of Michal Kalecki, which typically represents the Golden Age’s prevailing ideology of positive state intervention. Next considers how Europe’s post‐war economic performance can be consistently explained by Kalecki’s work. Then moves on to consider the development of the Single European Currency project with the insight that an alternative economic ideology provides.

Markets for free from foods have undergone extensive growth as consumers attempt to manage their health in increasingly novel ways. This research explores the making of consumer perceptions about the health of gluten-free foods.

This research employs qualitative methods including in-depth interviews with consumers of gluten-free foods and content analysis of online consumer comments.

Findings illustrate how consumers leverage personal responsibility, social commentary and political criticism in ways that forge essential connections with traditional medical authority. In particular, consumers blend diverse views together by expressing reverence, positioning complementarity and framing temporality.

This research highlights the productive role of consumers in shaping what constitutes health-related concerns and widens the scope of explanatory factors beyond product- and individual-level differences. This research is set in the context of gluten-free foods and draws on interview data from a single set of consumers. Future research could consider other free from markets including, for example, soy-free foods and corn-free foods, both of which implicate some of the most common ingredients in food products and potential regional differences both within and outside of North America.

This research offers insights into the marketing of gluten-free foods and free from foods in general, specifically the participation of consumers in legitimising the need for these foods on the basis of health.

I weave together multiple streams of work across disciplines including food marketing, contested illnesses and institutional logics to further our understanding of the dynamic nature of contemporary markets for free from foods.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Volume-based liquidity ratios suffer from potential measurement bias due to share restriction and may misrepresent actual liquidity. To address this issue, the authors develop two modified metrics, the free-float liquidity and the alternative free-float illiquidity ratios. These measures are well suited to estimate liquidity in the presence of trading constraints, as can be found in closely held/state-owned entities, IPOs/SEOs with lockup restrictions, dual-class share structures and family-owned businesses.

The authors modify the turnover illiquidity ratio, where the number of outstanding shares is scaled by the public free float, and use natural log transformation to normalize free-float liquidity. Our dataset is composed of daily observations for US stocks included in the S&P 500 index over the 2015–2018 period. To test the validity of free-float (il)liquidity ratios, the authors perform a correlation analysis for various liquidity metrics. To examine their empirical efficiency, the authors employ pooled OLS regression models for family firms as a subsample of liquidity-constrained entities, relying on five different identifiers of family-owned businesses.

The authors’ empirical testing indicates that the proposed free-float (il)liquidity ratios compare favorably with other volume-based methods, such as Amihud's ratio, liquidity ratio and turnover ratio. For the subsample of family organizations as a restricted-share setting, the authors report significant coefficients for our free-float measures across all the family firm identifiers used. In particular, as free-float decreases with progressive family influence, the advanced ratios capture an increase (decrease) in perceived liquidity (illiquidity) that is absent in the other benchmarks.

This study allows the authors to inform the ongoing debate on the management and governance of publicly listed companies with various impediments to trade. Traditional measures understate illiquidity (overstate liquidity) as the fraction of free trading shares is limited by design or circumstances. The authors’ proposed free-float metrics offer informational gains for family leaders to aid in their financing decisions and for non-family outsiders to guide their investment choice. As a constrained free float inhibits price discovery processes, the authors discuss how restricted stock issuers may alleviate the attendant negative effects on governance and information opacity.

The aim of this article is to explore the current European debate over labour market flexibility. First, it considers lessons from economic theory. The classical consensus considering unemployment to be purely voluntary, the Keynesian consensus introducing the concept of demand deficient involuntary unemployment and finally the neo‐classical consensus returning us to the classical viewpoint of the dominance of real conditions in the labour market. In order to proceed without confusion the article provides a clear working definition of the natural rate of unemployment and its three main components, voluntary unemployment, structural unemployment and involuntary unemployment. It then proceed to analyse each of these main components in detail, illustrating the difference between a free market approach and a European Commission approach to reducing each component of unemployment. The article concludes that the future is dependent on all EU citizens as electors of governments and holders of wages to moderate.