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The purpose of this paper is to investigate who rules the world. The hypothesis is that it is the 0.1 per cent of owners and controllers of capital.

This study used secondary sources including the Bureau Van Dyk and The World Top Incomes database to look at distributions of income and wealth (stock ownership). This is supplemented with a secondary source analysis and with some interviews.

The top point one per centers, the wealthy, those on the top incomes and transnational capitalist class are all distinct but overlapping categories that describe the (white) men and (few) women who hold power through their ownership and/or control of capital and who are thereby directly or indirectly able to act hegemonically on an emerging global basis.

Theorists of the global school of capitalism Alveredo et al., 2013 argue that there has been a qualitatively new twenty-first century transnational capitalism in the process of emerging (see Robinson, 2012a). This paper tests this assumption and relates it to the work by Hamm 2010.

The flip side of this progressively widening concentration of income and wealth into fewer (0.1 per cent) hands brings new lows to the polarisation of class, exploitation and domination. All of these have intensified since the 1980s with the end of the Keynesian Compromise. This north/south accentuated division has implications for social justice.

This seeks to identify empirical evidence to support the theory of an emerging transnational capitalist class.

“Corrupt practices” is a recurring feature of media coverage. The paper seeks to encourage debates about the influence of institutional structures on agency to break away from methodological individualism. This paper aims to encourage reflections on the role of both the structures and actors which have shaped the continuous expansion of corrupt practices in Nigeria.

Whilst recognising that deviant behaviour by some individuals is always possible, this paper has rejected methodological individualism and shows the value of locating anti-social practices within the broader socio-political and historical context. Within a socio-political framework, this study adopts the theories of critical realism, developmental state and globalisation to understand the relationship between social agency and society, focusing upon the institutional structures and the role of social actors.

The evidence shows that socio-political and economic development, politics, power, history and globalisation have continued to reproduce and transform the institutional structures and actors which have facilitated anti-social practices in Nigeria. The paper concludes that large sums of government revenue have been undermined by the anti-social practices of the Nigerian political and economic elite (both local and international), which have enriched a few, but impoverished most, Nigerians.

As a consequence of recurring corrupt practices in Nigeria, there is a pressing need for reform to curb these practices which have had, and continue to have, a serious effect on Nigeria and its future development.

It provides a framework for understanding and explaining the inter-relations of actors and institutional structures and the linkages and influences that have shaped the practices in Nigeria.

This paper aims to investigate the extent to which the ideology of shareholder value is compatible with that of transformative corporate social responsibility (CSR). It traces the transformation of corporations from quasi-public institutions at inception to purely private enterprises beginning from the middle of the nineteenth century and attempts to locate the ideology of CSR within the wider viewpoint of shareholder value.

This paper adopts a doctrinal approach through a critical evaluation of the nature and implications of the shareholder value ideology. Using existing literature in the area, it traces the evolution of the shareholder value ideology and how it is antithetical to any meaningful CSR regime.

The paper finds that there is a fundamental tension between ideas about the desirability of effective CSR and the belief that it is to the benefit of society as a whole for corporations to be run solely in the interest of their shareholders and for managers to seek to maximize shareholder value. This ideological tension renders contemporary CSR ineffective.

The paper offers a fresh insight or analysis into the transformation of corporations from quasi-social institutions to purely private enterprises in the middle of the nineteenth century. It does this by engaging in a historical narrative of the evolution of the corporate form and how contemporary ideas of shareholder value have resulted in the emergence of a contemporary CSR devoid of the radical spirit of CSR in the 1950s and 1960s.

This chapter offers a Marxist analysis of forms of value in capitalist economies, and their implications for accumulation, (in)stability, and economic policy. The study focuses on seven key categories: money, capital, credit, interest-bearing capital, fictitious capital, the domestic public debt, and macroeconomic management through monetary and fiscal policy. It argues, first, that there is an intrinsic tendency toward the growing complexity of value forms in capitalism. Its examination helps to locate the contradictions of accumulation at increasingly complex levels, and the emergence of specifically financial forms of instability. Second, state management of accumulation through fiscal and monetary policy and the domestic public debt are essential for the stabilization of the economy, but their effectiveness remains limited. Third, monetary and financial structures, their relationship with production, and capacity to stretch, transform, and (de)stabilize accumulation are historically and institutionally specific. Fourth, public policy can influence the level and composition of output and employment, and the distributional and other outcomes of accumulation. Examination of the capital relation from this angle can shed light upon the drivers and modalities of accumulation of real and financial assets, and the imperatives, forms, and limitations of state regulation of accumulation.

Based on a multi-case analysis of small businesses in the metal-mechanical industry in the region of Sorocaba, State of São Paulo, Brazil, the purpose of this paper is to analyze how small businesses (in terms of the owner, business, and influences exerted by the environment) influence innovation.

Six case studies are used to analyze the Brazilian metal-mechanical industry. The data are collected through semi-structured interviews and direct observations. In addition, innovations over the previous five years are evaluated in order to establish a comparative pattern between companies.

This study examines how facilitating factors are related to the owners of small businesses. These factors include owners’ personal ambitions, the centralization of decisions, and their confidence in their ability to make effective decisions. Factors related to the organization that favor innovation include a simple and streamlined structure and fewer levels of bureaucracy, whereas low capital intensity limit innovation. While some factors related to the environment favor innovation, others have a limiting effect (e.g. short-term horizons and a lack of formal strategic planning).

The main contribution of this research is to show that innovation is not synonymous with financial investment. Strategic reorganization and the rationalization of productive resources through competitive priorities may lead to innovation in different spheres, helping to increase the competitiveness and strength of the national economy.

Teaching complex economic theories can be made relevant through everyday life experiences and current economic, social, and environmental crises can be used as vehicles for student learning. The purpose of this paper is to help students understand that the economy should be seen as a social system that evolves over time driven by conflictive and contradictory forces and enable them to develop the critical thinking skills needed to make better choices for a more equitable and sustainable future.

The paper reviews the historical role played by neoliberalism on education in general and on the teaching of economics in particular. A historical/critical/action-learning approach discusses five pedagogical teaching methods that have been implemented in undergraduate economics courses and demonstrates how teaching social economics can be made possible by bringing the real world into the classroom and taking the classroom into the real world.

There is an urgent need to rethink the teaching of economics and the economics curriculum from one that stresses self-interest, profit maximization and cost minimization, to one that stresses cooperation, collaboration, fairness, and ethical values rather than economic value, as ways of satisfying society’s needs and addressing systemic issues of inequality, power and greed. Bringing teachers and students together in collaborative learning environments, thereby learning from the mistakes of the past and minimizing the impacts of the present so that future generations can also participate, is the much-needed change in how social economics can be taught post-financial crisis.

This paper is a response to the special issue on the theme teaching social economics during the global financial crisis. The authors have provided insights into their teaching pedgagogy in the context of this topic.