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The purpose of this chapter is to study the mathematisation of finance – excessive use of mathematical models in finance – which has been widely blamed for the recent financial and economic crisis. We argue that the problem might actually be the financialisation of mathematics, as evidenced by the gradual embedding of branches of mathematics into financial economics. The concept of embeddedness, originally proposed by Polanyi, is relevant to describe the sociological relationship between fields of knowledge. After exploring the relationship between mathematics, finance and economics since antiquity, we find that theoretical developments in the 1950s and 1970s lead directly to this embedding. The key implication of our findings is the realization that it has become necessary to disembed mathematics from finance and economics, and proposes a number of partial steps to facilitate this process. This chapter contributes to the debate on the mathematisation of finance by uniquely combining a historical approach, which chronicles the evolution of the relation between mathematics and finance, with a sociological approach from the perspective of Polyani’s concept of embedding.

Multiculturalism, in theory and practice, has become an important educational phenomenon in today's schools, colleges, and universities. It seeks inclusive avenues that equalize opportunities for all individuals (Sue, 2004). To a large measure, it incorporates multiple voices, including those of culturally and linguistically diverse (CLD) persons and communities in solving local, national, and global problems. As it appears, CLD learners are the majority in some of the largest school districts in the United States (Grossman, 1995, 1998; Ladson-Billings, 1994; Obiakor, 2004; Obiakor & Beachum, 2005). For instance, Ladson-Billings (1994) noted that these learners “represent 30 percent of the public school population. In the twenty largest school districts, they makeup over 70 percent of total school enrollment” (p. x). This revelation is particularly important today, especially because the composition of educational professionals and service providers still does not reflect the changing cultural and linguistic compositions of children in schools (Obiakor, 2007, 2008). At some levels, rather than progressive measures of desegregation, we are seeing retrogressive measures of resegregation. While this might not be a necessarily bad idea for some urban schools, the progressive goals of the 1954 Brown versus the School Board of Education in Topeka, Kansas case have somehow failed (Obiakor & Utley, 2004).

The purpose of this chapter is to identify and analyze various critical success factors (CSFs) that can facilitate retailing business in Thailand. This chapter further aims to understand the mutual interactions among these CSFs through identification of the hierarchical relationships among them. A framework for Thai retailers has been developed, wherein the hierarchical interrelationships between identified CSFs have been presented and interpreted using total interpretive structural modeling (TISM). Cross-impact matrix multiplication applied to classification analysis has been further employed to identify the driving power as well as dependence power of these CSFs. In the present research, 15 CSFs have been identified through literature review and expert opinions. The methodology employed in this study provides a mechanism to conduct an exploratory study by identifying the factors and analyzing their interactions through the development of a hierarchical framework. The proposed framework developed through qualitative modeling is an effort to understand relevant factors that can apply to the Thai retailers. This study makes a significant contribution in the literature of retailing business, which captures the perspective of different customers.

This paper examines the constitution and transformation of the political regime in the Ottoman Empire in the latter half of the 19th and early 20th century. It argues that our understanding of the transitional stages between the end of empires and the formation of new states continues to be analytically underdeveloped, particularly in the context of Eastern/Southeastern Europe. Drawing on recent scholarship, which challenges the existing dichotomous empire-to-nation model and suggests furthering studies on the transition period, the paper offers a close-up look at the role of transnational ideologies played during the transition from empire-to-nation. It highlights the existence of a rather complex interplay between national and transnational ideologies. It argues that understanding the role of transnational ideologies allows us to attribute more agency to the political actors of the late Ottoman era, helping model the changes that happened in the state's legitimacy, the ideological transformations, and the political mobilization of the elites in this period. Focusing on the Ottoman case, it sheds insights on both Habsburg and Russian Empires, which exhibited similar characteristics at that time. It also illustrates the role that transnational ideologies played in all three cases.

During the banking crisis of October 2008, Iceland became the first developed country in decades to seek the assistance of the International Monetary Fund (IMF). Iceland’s IMF programme provided a measure of stability at a time of intense turbulence. The IMF’s credibility was helpful during this period of collapse not just of the banks but also of the public trust towards almost all Icelandic institutions. Importantly, the IMF implicitly supported Iceland’s policy of letting institutional creditors of the banks rather than Icelandic taxpayers bear the costs of their collapse; this provided credibility for the policy and limited repercussions. In a reversal of previous IMF policy, capital controls were imposed. The controls helped stabilise the exchange rate, and inflation subsided. The controls also helped recovery after the crisis by shielding the economy from international financial shocks. The direct fiscal cost of the Icelandic crisis was very high, but the considerable and painful fiscal tightening that was a part of the programme was needed to avoid a sovereign debt crisis. This helped in regaining trust from international markets. Mistakes were made in the design and implementation of the IMF programme, but overall, we judge that its contribution was positive. The programme provided one of the elements for restoring trust in Iceland when it was most needed, both domestically and internationally, during the depth of the crisis in 2009–2010.