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Economic theories are integrally related to the social and historical processes from which they emerge. They evolve from, reflect, and seek to communicate explanations of the on‐going phenomena in which they participate. While, therefore, economic theories are mostly the product of the socio‐economic matrices in which they are conceived, the most influential political economists in history have also reflected the most advanced principles of science in their work. This they have done as their common calling to build a science of economic activity that would prove adequate to serving the most basic needs of people throughout the world and to meeting the growing requirements of public policy making. It is in these senses that the economic theories of Thorstein Veblen and Piero Sraffa have revealed the poverty and sterility of marginal utility speculations, while their combined innovations offer a hopeful prospect for continuing the classical heritage of production and social surplus theory which preceded the century‐long dominance of the demand‐and‐supply approach in political economy.

To explain the benefits and the regulations pertaining to Jersey as a domicile for investment funds.

Provides an overview of Jersey as an international financial center followed by a detailed description of Jersey regulations applying to private funds, expert funds, listed funds, regulated investor funds, retail and other collective investment funds (CIFs), and notification-only funds. Explains fund vehicles including unit trusts, limited partnerships, and companies. Discusses taxes and fund service providers.

Jersey is one of the world’s major international finance centers, offering location and time-zone benefits; stability and reliability; tax neutrality; a stable political, fiscal and regulatory infrastructure; and highly-skilled financial-service providers.

Expert guidance from experienced investment-funds lawyers

This paper aims to analyse the post‐crisis communication response of the UK oil industry both from a management and employee perspective following two major helicopter incidents in 2009. The purpose of this paper is to develop further understanding of the merits of a cross‐industry post‐crisis communication strategy for certain crisis types.

This research is a single case study focusing on the Helicopter Task Group (HTG). Thirteen members of the HTG were interviewed and 250 questionnaires distributed to the workforce. Results were analysed against a literature review of current post‐crisis communication theory.

The study demonstrates that where a crisis is deemed to genuinely cross company boundaries, an inter‐organisational approach to post‐crisis communications is of mutual benefit to all stakeholders, providing certain conditions for dialogue are met.

This paper only focuses on one crisis event. Further research is required with other inter‐organisational groups formed to lead a cross‐industry response to a crisis.

This case study provides a model for cross‐industry pre‐crisis planning and post‐crisis renewal strategy where the aim is not to attribute blame, but to respond to a wider community of concerns and issues that are deemed to cross company and institutional boundaries.

The research demonstrates that the process of rebuilding stakeholder relationships and renewal is possible prior to any formal attribution of blame or apology.

The purpose of this chapter is to share the varied experiences the two authors encountered as first-generation college students and scholars in higher education. The goal is to provide insight into how minoritized students, particularly those who identify as Black, Black American or African American, can successfully navigate the doctoral process, be competitive on the faculty job market as newly minted PhD‘s, and navigate the tenure and promotion process. One perspective follows the traditional (tenure track) faculty career progression. Another perspective suggests creating your own path, considering administrative roles, research appointments, and non—tenure track teaching roles. This chapter will be largely autobiographical, with augmented supplementation from empirical research. The implications and lessons that will be shared in this chapter are beneficial to all students and young scholars as they embark upon similar trajectories in their professional and academic careers.

Residents of South Florida have been living with the effects of climate change in the form of flooding due, in part, to sea level rise, for more than a decade. However, previous research has characterized news coverage of climate change impacts as concerning distant events in terms of time and place. In this study, we look at coverage of climate change at The Miami Herald from 2011-2015, a time period significant in terms of increased temperatures and flooding levels on city streets. Through a content analysis of 167 articles, this study argues that news coverage of climate change in The Miami Herald was largely pragmatic, linked to a news peg, locally focused and presented via opinion pieces rather than news articles. Furthermore, Miami Herald coverage links distant hypotheses of climate change with local realities, invokes a network of editorial responses, and emphasizes local impacts, particularly in more affluent areas. Findings from this study contribute to understanding how news coverage of climate change as a local story may provide a useful model for engaging the public in adapting to and mitigating against the impact of climate change, and creating social acceptance of climate change policy.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to Bertrand Russell and Richard F. Kahn along with their replies. Between 1963 and 1964, Wertheimer – an Austrian-born Jewish immigrant then professor of economics at Babson College – wrote to Russell and Kahn asking for their personal reminiscences concerning Keynes’ anti-Semitic utterances. In their brief but still significant responses, both Russell and Kahn firmly denied any hint of anti-Semitism in Keynes, thereby providing significant first-hand testimonies from two of his closest acquaintances.

This study empirically examined the antecedents of verbal and physical assaults on managers perpetrated by subordinate employees. A model was presented and hypotheses developed that were tested with data obtained through the content analysis of published arbitration decisions. The findings indicated that such assaults were more likely to be verbal than physical, preceded by aversive treatment, and targeted at managers directly involved in the negative outcomes. Additionally, the severity of the incident varied across the different types of triggering events. Individuals who had been aggressive in the past but had not been disciplined were more likely to subsequently engage in physical than verbal assaults. The implications of these findings for future research and organizational practices were also discussed.

This study investigates the time‐series properties of operating cash flows per share and earnings per share for all manufacturing firms on the Compustat Quarterly Industrial tape for which sufficient data are available. Both individually‐identified and “premier” models are compared on the basis of their relative fit and forecasting accuracy. The empirical results suggest that for both accounting variables the individually‐identified models outperform the premier models, although this advantage is larger for earnings, and for forecast horizons beyond one quarter ahead. A major conclusion of the study is that the time‐series properties of cash flows are quite different than those of earnings. In particular, the cash flow series are considerably less predictable, as shown by their relatively high incidence of white‐noise series and relatively large forecast errors.

Communications regarding this column should be addressed to Mrs. Cheney, Peabody Library School, Nashville, Term. 37203. Mrs. Cheney does not sell the books listed here. They are available through normal trade sources. Mrs. Cheney, being a member of the editorial board of Pierian Press, will not review Pierian Press reference books in this column. Descriptions of Pierian Press reference books will be included elsewhere in this publication.