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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 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.

Centuries of protection have impeded innovation in the textile industry. As these protections elapse, the industry must contend with increasing competition from abroad. This raises the question: will more R&D expenditure enhance competitiveness? To assess this, we measure firm profitability using Tobin's q, the ratio of the stock market valuation of the firm compared to the book value of the firm's assets. Q values are compared to other financial ratios, and then used to assess the impact of research and development (R&D) spending. A Mann‐Whitney rank test indicates firms that conduct R&D are not more profitable, as measured by q, than those that do not conduct R&D.

The purpose of this paper is to explore the relationship between perceived distributed leadership and job satisfaction among nurses. Leadership is central to improving quality care. Reports following investigations of poor care standards, identified inadequate leadership as a contributory factor and called for a new kind of leadership. One alternative is distributed leadership. Evidence suggests associations between leadership and job satisfaction but, there is a paucity of research examining associations between distributed leadership and job satisfaction: the purpose of this study was to address this gap.

A cross-sectional survey design was used and data collected via questionnaires. Using census sampling, 350 nurses in a hospital in Malta were selected. A response rate of 50% (n = 176) was achieved. Data were analysed using Spearman’s correlation coefficient and multiple regression. Ethical approval was obtained from relevant committees/individuals.

Results indicated a moderate application of perceived distributed leadership and application of all components of distributed leadership could be improved. Nurses were neither satisfied nor dissatisfied with their jobs. Correlation analysis showed a positive relationship between distributed leadership and job satisfaction. Multiple regression showed that commitment and participative decision-making were major predictors of job satisfaction while supervision by managers had a negative effect.

Improving distributed leadership is a priority in the nursing profession.

To the best of the authors’ knowledge, this study is the first to show that distributed leadership has a positive effect on job satisfaction among nurses. Supervision, a constituent of distributed leadership, was associated with reduced job satisfaction, therefore reducing this is paramount.

The development of blockchain and cryptocurrency may alleviate the economic strain associated with recession. Economic recessions tend to be aggregate-demand driven, meaning that they are caused by fluctuations in the supply of or demand for money. Holding monetary policy as solution assumes that stability must arise from outside of the economic system. Under a policy regime that allows innovations in blockchain to develop, blockchain technology may promote a money supply that is responsive to changes in demand to hold money. The purpose of this paper is to suggest that cryptocurrencies present an opportunity to profitably implement rules that promote macroeconomic stability. In particular, cryptocurrency that is asset-backed may provide a means for cheaply attaining liquidity during a crisis.

The role of cryptocurrency in promoting macroeconomic equilibrium is approached through the lens of monetary theory. Moves away from macroeconomic equilibrium necessitate either a change in the average price of money or a change in the quantity of money, or a change in portfolio demand for money. Cryptocurrency promotes an increase, however this requires the alignment of policy regulating the use of cryptocurrency, reduction in taxes placed on the use of cryptocurrency and cryptocurrency protocol.

Cryptocurrency is unlikely to become legal tender, but it may alleviate macroeconomic fluctuations as a near money that provides liquidity and whose supply is sensitive to changes in demand to hold money and money-like substitutes. This role might be inhibited if policy stifles the development of cryptocurrencies and blockchain technology.

New financial innovations like cryptocurrencies can be analyzed applying the equation of exchange in light of the mechanics of money creation under conditions of disequilibrium. Monetary disequilibrium may be promoted by policy that causes bottlenecks in financial markets.

Theory of monetary disequilibrium has broad implications for the development and regulation of financial markets. This theory has not been applied to the development of cryptocurrency markets.

From one angle, abortion law appears to confirm the regime politics account of the Supreme Court; after all, the Reagan/Bush coalition succeeded in significantly curtailing the constitutional protection of abortion rights. From another angle, however, it is puzzling that the Reagan/Bush Court repeatedly refused to overturn Roe v. Wade. We argue that time and again electoral considerations led Republican elites to back away from a forceful assertion of their agenda for constitutional change. As a result, the justices generally acted within the range of possibilities acceptable to the governing regime but still typically had multiple doctrinal options from which to choose.

Bloomington scholars are critical of the rather wide-spread “Model Platonism” of both Austrian and Chicago economists. Their empirical, B, perspective avoids the more extreme views of both Austrian “mindful economics,” A, and Chicago “mindless economics,” C. Yet the B is not a mere convex combination of A and C. It is rather a psychologically grounded empirical evidence-oriented approach that keeps clear of the non-empirical spirit of von Mises’ and Selten’s methodological dualism on one hand and the instrumentalist and behaviorist spirit of much of neo-classical economics on the other hand.

The overall goal of science is to build a valid and reliable body of knowledge about the functioning of the world and how applying that knowledge can change it. As personnel and human resources management researchers, we aim to contribute to the respective bodies of knowledge to provide both employers and employees with a workable foundation to help with those problems they are confronted with. However, what research on research has consistently demonstrated is that the scientific endeavor possesses existential issues including a substantial lack of (a) solid theory, (b) replicability, (c) reproducibility, (d) proper and generalizable samples, (e) sufficient quality control (i.e., peer review), (f) robust and trustworthy statistical results, (g) availability of research, and (h) sufficient practical implications. In this chapter, we first sing a song of sorrow regarding the current state of the social sciences in general and personnel and human resources management specifically. Then, we investigate potential grievances that might have led to it (i.e., questionable research practices, misplaced incentives), only to end with a verse of hope by outlining an avenue for betterment (i.e., open science and policy changes at multiple levels).

Taking issue with the predominance of reviews of James March’s writings that focus on his technical contributions to organizational studies, this study aims to emphasize the central significance and contemporary relevance of his critical reflections on the meaning of life and work in modern organizations.

The paper uses a novel framework illustrated by extensive original quotations for capturing and making more accessible March’s profound contribution to organization studies. His work on organizational behaviour and decision-making is viewed as identifying and grappling with three key paradoxes of modernity: of rationality, performance and meaning. His prescriptions on how to handle and address these paradoxes are explored through a focus on his reflections on the poetry of leadership.

Whilst March himself emphasized that not all of his insights can be captured in an article level overview, March, his collaborator Olsen and others who worked with and studied under him have confirmed the accuracy of the review and the value of the enterprise.

Capturing March’s advocacy of sensible foolishness and playful seriousness in the face of ambiguity, uncertainty and contestation hopefully contribute to enhancing practitioners’ “lightness of being” in coping with and finding meaning in challenging environments.

Through the range of ideas covered, the framework used and the extensive use of March’s own worlds, the study, hopefully, communicates the depth and richness of March’s humanitarian enterprise and the “playfully serious spirit” that he advocates and exemplifies – in a way that is often omitted from narrower, more technical and somewhat dry treatments of his work.

In the last decades, many of the most talented and promising young graduates in the developed economies have joined the financial industry. Simultaneously, ill-designed incentives’ schemes have favored the development of a culture in which excessive greed, free-riders’ behavior, unreasonable appetite for risk, and short-term decision making have endangered the economy and, potentially, have laid the foundations for financial, economic, social, and environmental crises.

In this chapter, we review current challenges in the financial industry from the lens of human and social capital. We examine some of the factors that allowed unethical behavior and a short-term financial focus in the financial sector, examining how compensation and an extremely competitive culture became key elements that favored greedy and manipulative behavior and ultimately generated socially harmful human and social capital in the financial sector. Finally, we discuss the emergence of a number of game-changers (namely, Brexit, FinTech, the growing relevance of ethical standards, and the increasing participation of women and millennials in the industry) that might represent potential promotors of change and help restructure and reshape the financial industry.