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1 – 10 of 21Sustainability has long been known to present an epistemic challenge. In the corporate setting, this challenge translates into the difficulties experienced by managers not only in…
Abstract
Purpose
Sustainability has long been known to present an epistemic challenge. In the corporate setting, this challenge translates into the difficulties experienced by managers not only in devising solutions to corporate sustainability problems, but even in developing the awareness of the latter. The paper explores how these difficulties may be overcome by corporate stakeholder management policies.
Design/methodology/approach
The paper develops a conceptual framework that reconstructs the Hayekian theory of market process in the context of Williamson's (1996) distinction between autonomous and cooperative adaptation.
Findings
Applying the Hayekian theory of market process to the process of engagement and collaboration of corporate stakeholders, the paper shows how the latter process may address the epistemic challenge of corporate sustainability and derives implications for the design of business models for sustainability.
Originality/value
The paper informs stakeholder theory in two ways: first, stakeholder theory is given a novel justification in terms of reflecting the growing prominence of cooperative adaptation and second, corporate stakeholder management is shown to be crucial for maximizing not only economic but also sustainability performance.
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This essay charts an intellectual journey. Geoffrey M. Hodgson became an institutional economist in the 1980s. He explains how he discovered institutional economics and what…
Abstract
This essay charts an intellectual journey. Geoffrey M. Hodgson became an institutional economist in the 1980s. He explains how he discovered institutional economics and what strains of institutional thought were attractive for him. Another issue raised in this essay is how institutional researchers organize and move forward. Hodgson argues for an interdisciplinary approach, but this is not without its problems.
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This paper reviews the evidence presented in the HHS report and challenges its characterization of the state of the market. The recent US Department of Health and Human Services…
Abstract
Purpose
This paper reviews the evidence presented in the HHS report and challenges its characterization of the state of the market. The recent US Department of Health and Human Services (HHS) report on the blood industry, Adequacy of the National Blood Supply, provides evidence of and acknowledges that the industry has successfully met demand for blood. And yet the tone and takeaway message of the report of the industry is on the verge of collapse.
Design/methodology/approach
The approach of this paper is a critical review of the evidence presented in the HHS report as well as other recent analyses of the blood industry.
Findings
While acknowledging the successful performance of the industry to date, the HHS report offers hypothetical disaster scenarios and a lack of centralized data as the main causes for concern. These criticisms ignore the satisfactory response of the industry to prior disasters and fail to recognize that centralized information is not necessary for the efficient operation of a decentralized industry.
Originality/value
This paper offers a fresh assessment of a report repeating prior forecasts of doom for an industry which to date has very successfully met the United States' demand for blood.
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Today, as we hurtle towards imminent planetary destruction in the age of the Anthropocene, we believe it may be instructive to try and understand if the ancient science of…
Abstract
Today, as we hurtle towards imminent planetary destruction in the age of the Anthropocene, we believe it may be instructive to try and understand if the ancient science of spirituality can prove useful in humankind's ability to change course, even at this late hour. We argue that such a paradigm shift is critically essential for human survival and that without the inner transformation proposed by this science, it may prove impossible to build a society based on the principles of liberty, equality and fraternity. This chapter draws from foundational texts and authoritative sources across multiple religious traditions, based upon which it outlines a brief sketch of the ancient science of spirituality. We begin with an account of the differentia specifica of this science, where we delve into what kind of science this is. Since it is centrally concerned with inner transformation, we briefly outline the theory of change embedded in this science and the kind of rejuvenation it enables, which makes it possible for us to clearly perceive the key elements and the structure of reality. We then spell out the impact this has on the nature of human action, continually teasing out implications for policy and practice in our time. We provide a few concrete illustrations of the same. Inter alia, we also show how many of these insights can be found even within modern scientific and philosophical traditions, thereby indicating possibilities of convergence and synthesis between ancient and modern science, following thereby the guidance of genuine spirituality.
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In Theory of Moral Sentiments, Adam Smith reasons about how a change in one thing, A, is attended by a change in another thing, B. In expounding on such bivariate relationships…
Abstract
In Theory of Moral Sentiments, Adam Smith reasons about how a change in one thing, A, is attended by a change in another thing, B. In expounding on such bivariate relationships, Smith sometimes seems to go out of his way to posit a state of the world in which the relationship would break down. That feature suggests an irony about knowing how a change in B attends a change in A. We might think we understand the bivariate relationship, but it holds only for certain states of the world. The relationship is circumstanced. The more one studies the Moral Sentiments, the more one realizes that circumstantiality suffuses its teachings. My discussion arrives at a place of doubt about the most important bivariate relationship – that between approval from our conscience and doing good. Smith seems to suggest, particularly at the end of his life, that a person can best know the relationship between his conscience’s approval and his doing good under circumstances of his having frank and open friendships. The implication for politics is that we want that kind of government that best conduces to frank and open friendships.
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Sampa Chisumbe, Clinton Ohis Aigbavboa, Erastus Mwanaumo and Wellington Didibhuku Thwala
In 2021, nonfungible token (NFT) has emerged and grown as a new digital asset and became a carrier for cryptocurrency holders in China. NFT opens the door of the digital world for…
Abstract
Purpose
In 2021, nonfungible token (NFT) has emerged and grown as a new digital asset and became a carrier for cryptocurrency holders in China. NFT opens the door of the digital world for creators’ rights and the realization of economic interests. However, potential problems such as money laundering, terrorist financing and tax avoidance risks have increased in China due to the lack of regulations. As tax control is an important tool used by the government to adjust the economy and market, this study aims to investigate the future market capitalization of NFT and provide value orientations to control the NFT market in China with a tax control approach based on the positive experience of other countries.
Design/methodology/approach
In this study, least squares and expert estimation are applied to predict the future market capitalization based on the global market, which can provide an understanding of the current NFT market and the significance of its tax control. In addition, the tax control and interpretation of Chinese taxation institutions and structures are also explored.
Findings
Results include the probable tax structure or policy that national institutions can carry out over different transactions. Conclusions show that introducing tax control to regulate and monitor the rise of state revenue and decline of illegal financing activities. Establishing tax control in the Chinese NFT market can provide a centralized guarantee to ensure the safety and legality of transactions and enable further progress.
Originality/value
This study puts forward new ideas on the future development of nonprofitable tokens based on blockchain technology from the perspective of taxation in China.
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