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Investigates the fate of Gossen’s ideas and discusses his life, work and influence. Gossen formulated three laws. First, he formulated the law of diminishing marginal…
Investigates the fate of Gossen’s ideas and discusses his life, work and influence. Gossen formulated three laws. First, he formulated the law of diminishing marginal utility, which became the foundation of the later marginalist schools. Second, he formulated the law of want equalization which was later elaborated in the Austrian theory of overinvestment or better theory of wrong investment. He was the first to point to the fact that time is a crucial element of value. In this respect, he influenced the discussion on time preference within the Austrian School (critique of Fetter, Mises, and Rotbard on Böhm‐Bawerk). He was also one of the first to use (simple) mathematics in economics.
Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and…
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.
This study investigates the situations in which productive organizational energy (POE) and organizational performance increase through customer passion, that is, perceived…
This study investigates the situations in which productive organizational energy (POE) and organizational performance increase through customer passion, that is, perceived customers’ affective commitment and customers’ positive word-of-mouth behavior. We integrate research on POE with research on customer influences on employees. Based on emotional contagion processes we develop hypotheses for the energizing influences of customers at the organizational level. We test the hypotheses using a dataset containing 495 board members and 8,299 employees of 152 organizations. The results show that customer passion is positively related to POE, which is in turn positively related to organizational performance. Furthermore, the findings indicate that the effect of customer passion on organizational performance through POE depends on top management team’s (TMT’s) customer orientation. By providing first insights into the linkages and contingencies of customer passion, POE, and organizational performance, this study puts forth a more holistic understanding of the energizing effect of customers on organizations.
Current news on environmental problems frequently emphasizes the totally unprecedented nature of the ecological crises that beset us in this nation and the Western world…
Current news on environmental problems frequently emphasizes the totally unprecedented nature of the ecological crises that beset us in this nation and the Western world as a whole. We are told, for example, that the summer of 1988 constituted “the hottest summer on record” in North America. Similarly we hear mat Boston Harbor has never in its history been so polluted, and in European waters seal populations died of an epidemic in 1988 on a scale never before witnessed by man. By stressing this “never before” aspect of events, it is sometimes argued mat the experience of the past is largely irrelevant for policy planners. Since our circumstances are new, so the argument runs, past experience leaves us with little or no instruction for the formulation of a practical public policy for the environment.
This chapter takes a new approach to emotions through the lens of a relational identity among hybrid professionals, using those in healthcare as particularly relevant…
This chapter takes a new approach to emotions through the lens of a relational identity among hybrid professionals, using those in healthcare as particularly relevant examples. Sharpening the focus on underpinning emotional dynamics may further explain how professional managers can be effective in hybrid roles. The chapter seeks to build on the internal emotional states of these professional managers by understanding how outward emotional displays might influence their subordinates. The understanding of how emotional states/displays in manager–employee relationships influence target behaviors may help multiprofessional organizations generate better-informed leadership practice in relation to desired organizational outcomes, e.g. more efficient and effective health services.
The spotlight of this chapter is to understand the connection between public policy and corporate social responsibility (CSR); in other words – the institutionalization of…
The spotlight of this chapter is to understand the connection between public policy and corporate social responsibility (CSR); in other words – the institutionalization of CSR. What is the role of the government for setting standards and mandating for ensuring responsibility? The emerging accepted wisdom in policy and academic circles is that many sustainability solutions are likely to result from institutional (i.e., governance) reform. A perceptive on CSR evolving as an institution of broader societal governance appears as a promising opportunity to delve into at a point in time when conventional rules, actors, and markets that steered the global economy demonstrate to be undergoing credibility crisis. CSR therefore must be considered within the wider field of institutions for governing the corporation and the economy. This chapter is exploratory as it dwells into theoretical underpinning of emerging mandatory CSR as well as provides empirical mapping of corporate responses to the new enacted legislation. The CSR analysis presented is based on a content analysis of the information contained in the annual reports of some prominent companies, government documents, audits reports, companies websites, and newspaper reports, which will provide us evidences of responses of corporates toward the CSR provisions.
In this chapter, the authors present a conceptual perspective on resilience that is grounded in self-regulation theory, to help address theoretical, empirical, and…
In this chapter, the authors present a conceptual perspective on resilience that is grounded in self-regulation theory, to help address theoretical, empirical, and practical concerns in this domain. Despite the growing popularity of resilience research (see Linnenluecke, 2017), scholars have noted ongoing concerns about conceptual confusion and resulting, paradoxical, stigmatization associated with the label “resilience” (e.g., Adler, 2013; Britt, Shen, Sinclair, Grossman, & Klieger, 2016; Luthar, Cicchetti, & Becker, 2000). The authors seek to advance this domain via presenting a clarified, theoretically grounded conceptualization that can facilitate unified theoretical advancements, aligned operationalization, research model development, and intervention improvements. Resilience is defined here as continued, self-regulated goal striving (e.g., behavioral and/or psychological) despite adversity (i.e., after goal frustration). This self-regulatory conceptualization of resilience offers theoretically based definitions for the necessary conditions (i.e., adversity and overcoming) and outlines specific characteristics (i.e., unit-centered and dynamic) of resilience, distinguishes resilience from other persistence-related concepts (e.g., grit and hardiness), and provides a framework for understanding the connections (and distinctions) between resilience, performance, and well-being. After presenting this self-regulatory resilience perspective, the authors outline additional paths forward for the domain.
The objective of this study is to analyze the framework within which microfinance institutions (MFIs) deliver their services and provide an assessment of their operations…
The objective of this study is to analyze the framework within which microfinance institutions (MFIs) deliver their services and provide an assessment of their operations and financial management. These institutions are examined because of their current importance to a special group of consumers, primarily the poor and disenfranchised in the developing world, and of their future promise as an economic development solution. Since the objective of these institutions is somewhat unique, the manner of their assessment must also differ from that used to assess the performance of traditional financial intermediaries. In particular, assessment of MFIs must recognize their dual (bank and development instrument) status. Their efficiency, then, must be analyzed in terms of its economic (or financial) dimension as well as its social dimension. The first dimension may be examined with traditional measures, while examination of the second requires measures that reflect the MFI’s social objectives. In order to accommodate the special nature of MFIs, this study proposes the use of a Balanced Scorecard approach. It contributes to the study of financial institution performance by examining a non‐traditional group of institutions using a variety of assessment measures. The findings should be of value to those interested in the financial sector as well as those involved in public policy decision making.
Under this heading are published regularly abstracts of all Reports and Memoranda of the Aeronautical Research Council, Reports and Technical Notes of the United States National Advisory Committee for Aeronautics and publications of other similar Research Bodies as issued