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A recent symposium in the Journal of Political Economy was devoted to two papers in which Professor Friedman had developed more explicitly than previously the theoretical framework underlying his monetary analysis. In the view of the present authors — and, to judge from his reply to his critics, in Friedman's view as well — the symposium was disappointing in its concentration on secondary and polemical questions to the neglect of the basic issues that Friedman had raised. The present paper therefore returns to a consideration of what we conceive to be the fundamental questions posed by Friedman's two papers. The most important of these is, we shall argue, an issue that was never raised in the symposium at all: namely, whether it is appropriate to construct a theory which seeks first to predict changes in nominal income and then to determine the price‐output breakdown, rather than to predict price and output changes separately and to obtain changes in nominal income by aggregating the two. But discussion of this question requires a brief survey of one of Friedman's models, and two related models specified at the same level of generality.

Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

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.

It is commonly acknowledged that history matters in strategy. However, the strategy literature mainly discusses history in terms of path dependency, leaving little room for managerial agency, despite growing anecdotal evidence that managers can actively draw on corporate history to improve decision-making. An emerging literature on how managers use the past to give sense to internal and external stakeholders has given rise to a more agent-based approach to history, but while sense-giving is commonly connected to sense-making as a driver of strategic change, the role of history in sense-making remains unexplored. Drawing on the concept of analogical reasoning, this chapter theorizes the connection between corporate archives and managerial sense-making, arguing that analogies drawn from past experience can reduce uncertainty and foster learning. This theory leads to the suggestion that consulting the corporate archive can promote strategic renewal and thus boost performance.

The rise of arts and culture is transforming citizen politics. Though new to many social scientists, this is a commonplace for many policy makers. We seek to overcome this divide by joining culture and the arts with classic concepts of political analysis. We offer an analytical framework incorporating the politics of cultural policy alongside the typical political and economic concerns. Our framework synthesizes several research streams that combine in global factors driving the articulation of culture into political/economic processes. The contexts of Toronto and Chicago are explored as both enhanced the arts dramatically, but Toronto engaged artists qua citizens, while Chicago did not.

The purpose of this study is to examine students who have recently graduated from the standard 120 credit accountancy program and compare and contrast their ethical perceptions with students who have recently graduated from the AICPA-mandated 150 credit accountancy program which includes 30 extra credits with a focus on ethics.

Recent graduated accounting students from selected Association to Advance Collegiate Schools of Business were asked to fill out a cross-sectional survey based on Victor and Cullen's Ethical Climate Questionnaire (ECQ) to determine whether a difference exists between the two groups' ethical perceptions. The nine hypotheses derived from the ECQ were tested using an independent sample t-test and Levene's test for the homogeneity of the variances between the two groups.

Compared with graduates of the 120 credit program, 150 credit program graduates scored significantly higher in ethical perceptions on five domains: Company Profit, Friendship, Team Interest, Personal Morality, and Rules, when testing at a confidence level of 95 percent. The two groups were not significantly different in the domains of Self-Interest, Efficiency, Social Responsibility, or Laws.

The paper includes implications for the need to encourage ethical intervention through education in the accounting curriculum. This study is part of a growing body of research for teaching ethics within the accounting profession.

This paper fulfills an identified need to study business ethics. Corporate scandals in the late 1990s and early this century led to a decline in the public's trust of the accounting profession. Since that time, the government, companies, and universities have attempted to rebuild that trust through a number of methods, such as passing laws requiring better regulation and more disclosure as well as requiring improved ethics education for future accountants.

The purpose of this paper is to examine the significance of TripAdvisor on reputation within the hotel industry. TripAdvisor encapsulates key themes in establishing an online reputation strategy in an evolving digital landscape.

Through the use of an exploratory case study, data were gathered primarily by means of a series of expert interviews within the hotel industry in Cyprus, today a mature holiday destination in Europe. Further data collection included a document search of presentations, annual reports, past surveys and sales and marketing literature from the examined industry.

Hotel communication practitioners are fully aware of the impact of social media in managing reputation. Constant monitoring, prompt responses, training and transparency were identified as key factors. Online reputation management needs to be taken into consideration when designing a comprehensive integrated communication strategy.

Congruence amongst interviewees in certain areas could be on account of the homogeneity of practitioners, of their background and training and of similar organisational cultures across the locale of study. This leads to limits in the generalisations from this study’s findings.

Encouragement and training of employees were amongst the primary suggestions that emerged. An internal and external environmental scan, recognising possible strengths, weaknesses, opportunities and threats, which could assist in the effective engagement and monitoring of the organisation’s online presence, were also suggested.

The uniqueness of the study lies in its exploration of reputation management of a well-known traveller’s platform by addressing social media content in both a proactive and reactive manner.

The purpose of this paper is to investigate information retrieval (IR) in the context of authentic work tasks (WTs), as compared to traditional experimental IR study designs.

The participants were 22 professionals working in municipal administration, university research and education, and commercial companies. The data comprise 286 WTs and 420 search tasks (STs). The data were collected in natural situations. It includes transaction logs, video recordings, interviews, observation, and daily questionnaires.

The analysis included the effects of WT type and complexity on the number of STs, queries, search keys and types of queries. The findings suggest that simple STs are enough to support most WTs. Complex WTs (vs more simple ones) and intellectual WTs (vs communication, support and editing WTs) include more STs than other WT categories.

Further research should address the problems related to controllability of field studies and enhance the use of realistic WT situations in test-based studies, as well.

The study is an attempt to bring traditional IR studies and realistic research settings closer to each other. Using authentic WTs when studying IR is still rare. The representativeness of the WT/ST types used in interactive IR experiments should be carefully addressed: in the work flow, people seldom consciously recognise separate “STs”. This means that STs may mainly be an academic construct even to the point that studying IR without a decent context does violence to the further understanding of the phenomenon.

Schumpeter is popular these days among the economic policy makers and politicians in Washington, DC. In “high tech” America, Schumpeter’s felicitous phrase “creative destruction” is on many lips. The recent meltdown of numerous dot.com firms on the NASDAQ exchange has taught formerly optimistic baby boomers how hard the “creative destruction” process can hit their pocketbooks and wipe out their accumulations of “shareholders value.” Yet for many, “creative destruction” is still the guidepost to a better and more prosperous future.