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Conducts both the cointegration test of the monetary theory of inflation and the Granger‐causality test between the variables in the system, and also develops univariate and multivariate time series models to forecast inflation rates. Quarterly time series data for Pakistan, from 1972‐2 to 1993‐4 is used for empirical investigation. Results suggest no cointegrating or long‐run relationship between the variables in the monetary model. Observes that there is some evidence of Granger‐causality running from inflation to output growth. Comparison of out‐of‐sample quarterly forecasts for the 1988‐1 to 1993‐4 period are made for univariate and vector ARMA models of inflation. States that the forecasting accuracy of the multivariate ARMA model is not statistically different from that of the univariate ARMA model.

This chapter examines the development and implementation of a sustainability module at Nottingham Trent University (NTU) in the UK and assesses how this is embedded within the undergraduate business curriculum. The objectives are to explain the background to the development of the module in the context of the University as a whole and to examine the issues and potential benefits concerning its implementation. The chapter explores how sustainability can be integrated effectively within the curriculum and focuses on a module for the academic year 2011/2012 ‘The Sustainable Organisation’ (SO) and its underlying principles from the perspectives of members of the module team. It also reflects on previous and concurrent modules incorporating sustainability and corporate social responsibility (CSR). The module's connections with industry and related research will also be discussed within the chapter. In conclusion, the wider implications of offering the SO module within a business school will be assessed.

Stephen Hodgetts read the e-mail over and over again and still could hardly believe what he had read. He had just come back from his vacation, well rested and refreshed, and this e-mail had dampened his high enthusiasm. It took time to absorb such bad news and for Hodgetts to get over his incredulity.Yet in the end Hodgetts accepted the truth‐a deep, dark terrible truth that would not go away. Robert Davis, his business partner’s son, had confirmed in an e-mail his worst fears about their newest business partner, David Russ.Many thoughts were running through his mind simultaneously yet each screamed to be heard.“How could he and his partner Richard Davis have been so blind, so trusting?” “How could Russ not have heeded the advice of his business partner, Richard Davis, Russ’s former English professor?” And most important, “What was now going to happen to their new business?” Yet the one thought that continued to echo among them all was surprisingly a quote from Sir Arthur Conan Doyle’s beloved character, Sherlock Holmes: “But there are always some lunatics about. It would be a dull world without them.”

This paper addresses the theory of legal pragmatism from the vantage of evolutionary metaphor. Legal pragmatism tends to incorporate a progress narrative with similarities to both evolutionary biology and classical economics, in which social developments are thought to be determined by competition among techniques and ideas. The difficulty with such competitive views of social change is that they obscure the extent to which successful solutions of the past – now the status quo – may be less adept at meeting new and future problems. Drawing on the evolutionary and economic variant theory of path dependence, it is argued that an assumption that the best, most efficient technique always wins out unduly sanctifies the present and inhibits awareness of unmet challenges. Ultimately, the encouragement of social change and advancement would be more securely located in the legal promotion of individual attempts at originality, rather than an assumption that competition is constantly moving toward perfection.

X = multiple interpretations

Max Weber called the maxim “Time is Money” the surest, simplest expression of the spirit of capitalism. Coined in 1748 by Benjamin Franklin, this modern proverb now has a life of its own. In this paper, I examine the worldwide diffusion and sociocultural history of this paradigmatic expression. The intent is to explore the ways in which ideas of time and money appear in sedimented form in popular sayings.

My approach is sociological in orientation and multidisciplinary in method. Drawing upon the works of Max Weber, Antonio Gramsci, Wolfgang Mieder, and Dean Wolfe Manders, I explore the global spread of Ben Franklin’s famed adage in three ways: (1) via evidence from the field of “paremiology” – that is, the study of proverbs; (2) via online searches for the phrase “Time is Money” in 30-plus languages; and (3) via evidence from sociological and historical research.

The conviction that “Time is Money” has won global assent on an ever-expanding basis for more than 250 years now. In recent years, this phrase has reverberated to the far corners of the world in literally dozens of languages – above all, in the languages of Eastern Europe and East Asia.

Methodologically, this study unites several different ways of exploring the globalization of the capitalist spirit. The main substantive implication is that, as capitalism goes global, so too does the capitalist spirit. Evidence from popular sayings gives us a new foothold for insight into questions of this kind.

The first issue that requires examination is the question of how we got to this point to begin with. The answer to this question, of course, is a function of who “we” happens to be. The lawyers can blame Oliver Wendell Holmes (1897, p. 469), who made “the man of the future … the man of statistics and the master of economics.” The future, it would seem, is now. Legal Realist/Institutionalist lawyer-economists such as Walton Hamilton and Robert Lee Hale, who were economists on law school faculties before that tradition got started at Chicago, had something to do with this too, although neither they nor law-minded economists such as John R. Commons can be given credit or blame for the economic analysis of law – at least not directly.³ The birth of the economic analysis of law is very much a Chicago story – Coase, Becker, and Posner – although we must allow that Guido Calabresi also had more than a bit to do with these things.⁴

In the United States, a child with a disability is vested with the statutory right to a free appropriate public education. Public school districts fulfill this right with an individualized education program designed to address the educational needs of the child. As with all governmental programs designed to extend positive benefits, statutory rights to a free appropriate public education come with attendant and commensurate costs that must be paid by the taxpayer. Rights have costs, and while the rights may be absolute, the remedy to a rights deficiency is subject to political processes. To borrow from Ronald Dworkin’s famous aphorism, costs and politics ultimately trump the right to a free appropriate public education.

IT WAS IN THE 1960s that a group of high‐minded business people produced the Marlow Report, named after its chairman Roger D.F. Marlow DFC who was deputy director of the Institute of Directors at that time.

Coronavirus (COVID-19) has caused upheaval in university teaching practices. This paper aims to document how the teaching team on a large third-year undergraduate financial accounting course in an Australian university coped with the impact of the virus. Changes in teaching practices when classes shifted from face-to-face to online instruction during the COVID-19 crisis are described and examined using the crisis management process framework of Pearson and Clair (1998). Teaching team members were asked to write brief reflections on their experiences teaching the course during the period from February to July 2020. These were then thematically analysed and included as outcomes within the Pearson and Clair (1998) framework.

Description of COVID-19 induced changes to teaching a large undergraduate financial accounting course at an Australian university.

Six outcomes emerged: learning new technology; collegiality; the course review; the online delivery experience; redesigning assessments and; time investment; conjectures are offered about the survival of some of the changes made during the year.

The research only covers one teaching team’s experience but that is the purpose of the special issue.

Lessons for the future are explored.

The implications of online teaching are explored.

The paper provides a historical record of how the teaching team on a large undergraduate financial accounting course coped with an unexpected, major event that necessitated rapid and radical changes to teaching methods.