Search results

1 – 10 of 882
To view the access options for this content please click here
Article
Publication date: 7 June 2011

Marianne Johnson

Wicksell's contributions to welfare economics are viewed as largely aligned with Pareto efficiency and James Buchanan's work in public choice. This conflicts with the…

Abstract

Purpose

Wicksell's contributions to welfare economics are viewed as largely aligned with Pareto efficiency and James Buchanan's work in public choice. This conflicts with the Scandinavian representation of Wicksell as the forefather of the modern Swedish socialist economy. The purpose of this paper is to examine Wicksell's approach to economics, particularly his understanding of “justice” as a way to understanding the evolution of two such divergent traditions.

Design/methodology/approach

Original academic and popular press writings, as well as archival materials, are used to examine Wicksell's economic philosophy and his position on key aspects of welfare economics, including the relative importance of allocation versus distribution in policy decision making. His influence on the American public choice tradition and Swedish welfare economics is examined.

Findings

Both the public choice and Swedish welfare traditions based on Wicksell's justice represent overly simplistic interpretations and fail to explain how Wicksell could have such a significant impact on the development of two such divergent approaches to public economics.

Originality/value

Wicksell's strong association with Pareto efficiency and the public choice school is unfortunate because de‐emphasizes the importance Wicksell placed on distributional considerations and overly simplifies his use of the term “justice.” Similarly, the Swedish economists failed to appreciate efficiency arguments and chose instead to emphasize Wicksell's distributional concerns. This paper sheds light on where the misapprehension arose and how it can be better understood.

Details

International Journal of Social Economics, vol. 38 no. 7
Type: Research Article
ISSN: 0306-8293

Keywords

To view the access options for this content please click here
Book part
Publication date: 18 February 2004

Warren J. Samuels

One important discussion comes under Knight’s heading of “Social Control.” To appreciate his argument, one has to understand that Knight’s social theory is developed…

Abstract

One important discussion comes under Knight’s heading of “Social Control.” To appreciate his argument, one has to understand that Knight’s social theory is developed within a tension between: (1) his knowledge that social control is both inevitable and necessary; and (2) his correlative desire for individual autonomy. One could add to that a hatred of social control, some of which is relevant. But what Knight dislikes is, first, selective elements of existing social control and, second, change of social control, e.g. change of the law by law, except for those changes of the law that remove the selective elements he dislikes; Knight is not opposed to all change of social control. In any event, the problem of social control is also for Knight (as it was for Vilfredo Pareto) the problems of social change and of the status of the status quo as well as of hierarchy.

Details

A Research Annual
Type: Book
ISBN: 978-0-76231-089-0

Content available
Article
Publication date: 4 February 2019

Adrienne Héritier

The purpose of this paper is to assess the plausibility of four different mid-term paths of development of the European Union (EU): first, a political union or a European…

Abstract

Purpose

The purpose of this paper is to assess the plausibility of four different mid-term paths of development of the European Union (EU): first, a political union or a European state; second, a differentiated and flexible integration of the polity; third, a covert and deepening integration of the polity outside of the political arenas; fourth, the disintegration and/or dissolution of the EU through the exit of individual members or a joint decision to terminate the union.

Design/methodology/approach

The paper uses strategic interaction analysis to identify the plausibility of each of these four possible outcomes. By systematically varying the relevant actors’, i.e. European Council’s and member states’, the European Parliament’s, the Commission’s, preferences over outcomes while holding constant institutional rules of decision making on the one hand, and systematically varying institutional rules on the other while holdings actors’ preferences constant, the paper comes to the conclusion that differentiated and flexible integration and covert integration are the most plausible mid-term paths of development.

Findings

The paper finds that neither a European state or deep political union nor a disintegration or even dissolution of the EU is the most plausible path of development. Rather, it concludes that flexible and differentiated integration as well as covert integration outside the political arenas are the most likely developments. However, it also draws attention to the political costs of flexible and differentiated integration which does not allow for an overall view of political and policy issues negotiated at one political table, limiting the scope of compromise formation and even leading to a fragmented polity. Covert integration consisting of mechanisms of hidden integration “invisible” to the wider public may lead to a democratic backlash, once citizens realize that integration has considerably deepened without their being aware of it.

Originality/value

Most publications regarding the future development of the EU are normatively driven, either conjuring an imminent disintegration, or invoking the necessity of a deepening integration leading to a political union. This paper, by contrast, seeks to assess the likely further development based on empirically identified factors and a logical argument.

Details

International Trade, Politics and Development, vol. 3 no. 1
Type: Research Article
ISSN: 2586-3932

Keywords

To view the access options for this content please click here
Article
Publication date: 1 December 2005

Jean‐Pierre Laborde

The impact of the European Union on Social Security is quite complex and enigmatic. At the starting point, there is a genuine paradox: whereas the construction of a large…

Abstract

The impact of the European Union on Social Security is quite complex and enigmatic. At the starting point, there is a genuine paradox: whereas the construction of a large and unique market supposes, among many others prerequisites, the harmonization of social security systems, this harmonization is left to the good will of the member States since Social security is not truly within the competence of the Union. In these conditions, it is quite obvious that a thought and organised harmonisation is absolutely unreachable. So we have yet very different systems from a State to an other and even the typology is very discouraging with at least four families of systems. As for the article 137 of the EC Treaty, which allows the European bodies to harmonize the different Social security legislations, without being completely vacuous, is extremely limited in its real reach by the rule of unanimity.

Details

Managerial Law, vol. 47 no. 6
Type: Research Article
ISSN: 0309-0558

Keywords

To view the access options for this content please click here

Abstract

Details

Documents from the History of Economic Thought
Type: Book
ISBN: 978-0-7623-1423-2

To view the access options for this content please click here
Book part
Publication date: 3 May 2016

David P. Baron

This paper provides a perspective on the field of nonmarket strategy. It does not attempt to survey the literature but instead focuses on the substantive content of

Abstract

This paper provides a perspective on the field of nonmarket strategy. It does not attempt to survey the literature but instead focuses on the substantive content of research in the field. The paper discusses the origins of the field and the roles of nonmarket strategy. The political economy framework is used and contrasted with the current form of the resource-based theory. The paper argues that research should focus on the firm level and argues that the strategy of self-regulation can be useful in reducing the likelihood of challenges from private and public politics. The political economy perspective is illustrated using three examples: (1) public politics: Uber, (2) private politics: Rainforest Action Network and Citigroup, and (3) integrated strategy and private and public politics: The Fast Food Campaign. The paper concludes with a discussion of research issues in theory, empirics, and normative assessment.

Details

Strategy Beyond Markets
Type: Book
ISBN: 978-1-78635-019-0

Keywords

To view the access options for this content please click here

Abstract

Details

Unfunded Pension Systems: Ageing and Variance
Type: Book
ISBN: 978-0-44451-732-6

To view the access options for this content please click here
Article
Publication date: 1 January 1990

Masudul Alam Choudhury

The main purpose of this paper is first to discern the overwhelming influence of Kantian thought in the development of mainstream political economic doctrines. In this we…

Abstract

The main purpose of this paper is first to discern the overwhelming influence of Kantian thought in the development of mainstream political economic doctrines. In this we will show that the Kantian philosophical influence has introduced an abiding element of duality in all matters of the western liberal theory of social contract and political economy. The nature of Kantian moral philosophy will be shown to have left the study of political economy by and large ethically neutral by treating the role of morals, ethics and values exogenously to the economic system. We will then introduce some substantive elements of an alternative approach to the treatment of ethics and values in the socio‐economic system. We will show that in the alternative approach to the study of social contract theory and political economy the ethical considerations appear as endogenous elements and strongly negate the Kantian principle of duality and individualistic rationalism.

Details

Humanomics, vol. 6 no. 1
Type: Research Article
ISSN: 0828-8666

To view the access options for this content please click here
Book part
Publication date: 20 July 2012

Daniel W. Bromley

Like language, the law is an instrument – a tool – for the accomplishment of certain purposes. The idealized understanding insisted that the law is, if not divinely…

Abstract

Like language, the law is an instrument – a tool – for the accomplishment of certain purposes. The idealized understanding insisted that the law is, if not divinely inspired, the empirical manifestation of received wisdom and truth. On this view the law is crafted to produce ideal outcomes. Richard Posner once insisted that the law was purposefully crafted to achieve economic efficiency (1973).1 Warren Samuels reminded us that the law is an instrument to get one's way. The interesting question, therefore, concerns who is able to control this valuable instrument? Sometimes good and noble people wield the tool. At other times nefarious forces prevail. Samuels presented his vision of the law by means of a Virginia statute concerning an obscure pest known as Cedar Rust (Samuels, 1971). As it happens, Virginia apple growers were able to wield the tool – saws and axes – against red cedar trees which serve as an intermediate host for a fungus detrimental to apple trees. Small spores make for large debates.

Details

Research in the History of Economic Thought and Methodology: A Research Annual
Type: Book
ISBN: 978-1-78052-824-3

To view the access options for this content please click here
Article
Publication date: 1 May 2006

E.M. Hastings, S.K. Wong and Megan Walters

To examine how the allocation of property rights in multiple‐ownership buildings in Hong Kong creates an environment in which the optimization of asset value may be…

Abstract

Purpose

To examine how the allocation of property rights in multiple‐ownership buildings in Hong Kong creates an environment in which the optimization of asset value may be difficult to achieve and in this situation how owners chose to overcome the associated problems of collective action decision making to resolve issues of building management.

Design/methodology/approach

An institutional approach, drawn from the literature on common property and collective action, is used to examine the management of multiple‐ownership property. The paper uses a hedonic pricing model to empirically test whether, in such circumstances, management is reflected in property price and which mode of governance owners prefer as a mechanism for resolving problems of collective action.

Findings

The institutional arrangements for co‐ownership and use of multiple‐ownership property assets in Hong Kong have resulted in an “anticommons” environment, in which individual owners are in a position to veto action in relation to the property. In the absence of mandatory management the study indicates property prices are increased in those cases where owners have chosen to resolve the difficulties of collective decision making by forming incorporate owners' groups and employing professional management services.

Research limitations/implications

The outcome of the empirical work is the result of an initial study carried out in one district in Hong Kong and may not be generalised. In the future, the approach will be extended to other areas.

Practical implications

In the absence of a regulatory environment which ensures the management of multiple‐ownership property assets, owners may be better advised to formalise arrangements through the formation of incorporate owners' groups and appointment of professional property management agents.

Originality/value

The paper assesses the implications of an anticommons environment for the management of multiple‐ownership property in Hong Kong. Examines arrangements for collective decision making and demonstrates influence of management on property price.

Details

Property Management, vol. 24 no. 3
Type: Research Article
ISSN: 0263-7472

Keywords

1 – 10 of 882