Jochen Clasen and Daniel Clegg (eds)
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199592296
- eISBN:
- 9780191731471
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199592296.001.0001
- Subject:
- Political Science, Political Economy
In recent decades, the share of service employment has increased greatly across Europe, fundamentally changing the structure of European labour markets and the nature of the economic risks that ...
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In recent decades, the share of service employment has increased greatly across Europe, fundamentally changing the structure of European labour markets and the nature of the economic risks that individual workers face. This book explores how far reforms to unemployment protection systems, which were introduced and consolidated in a very different labour market context, are responding to the particular challenges of post-industrial labour markets. It argues that adapting traditional systems of unemployment protection to the risk profiles of service-based economies requires a profound policy realignment, which can be summarized with reference to three overlapping processes of institutional change; the homogenization of unemployment benefit rights for different categories of the unemployed; the erosion of the institutional boundaries between benefit provisions for the unemployed and for other groups of working-age people reliant on state support; and the ever-closer operational integration of income maintenance policies and other forms of labour market support. Systematically comparing across twelve European welfare states over a period of twenty years, the book traces how these reform dynamics have played out in the context of political conflicts, institutional constraints, and changing macroeconomic conditions. While the book highlights that many differences continue to set the unemployment protection arrangements of different European countries apart, it also points to an emergent process of contingent convergence in conceptions of the risk of unemployment and of appropriate ways of regulating it.Less
In recent decades, the share of service employment has increased greatly across Europe, fundamentally changing the structure of European labour markets and the nature of the economic risks that individual workers face. This book explores how far reforms to unemployment protection systems, which were introduced and consolidated in a very different labour market context, are responding to the particular challenges of post-industrial labour markets. It argues that adapting traditional systems of unemployment protection to the risk profiles of service-based economies requires a profound policy realignment, which can be summarized with reference to three overlapping processes of institutional change; the homogenization of unemployment benefit rights for different categories of the unemployed; the erosion of the institutional boundaries between benefit provisions for the unemployed and for other groups of working-age people reliant on state support; and the ever-closer operational integration of income maintenance policies and other forms of labour market support. Systematically comparing across twelve European welfare states over a period of twenty years, the book traces how these reform dynamics have played out in the context of political conflicts, institutional constraints, and changing macroeconomic conditions. While the book highlights that many differences continue to set the unemployment protection arrangements of different European countries apart, it also points to an emergent process of contingent convergence in conceptions of the risk of unemployment and of appropriate ways of regulating it.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0010
- Subject:
- Business and Management, Marketing
This chapter shows how the firm should choose marketing policies when its products are sold by distributors. It distinguishes between exclusive and nonexclusive distributors, show how the firm can ...
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This chapter shows how the firm should choose marketing policies when its products are sold by distributors. It distinguishes between exclusive and nonexclusive distributors, show how the firm can coordinate its bricks-and-mortar and Internet pricing strategies to maximize performance, show how the firm should coordinate its price and advertising strategies when it sells through distributors, and discuss when the firm should use vertical integration strategies. In particular, it shows how the multiproduct firm should coordinate its channel strategy when the distributor also sells multiple products.Less
This chapter shows how the firm should choose marketing policies when its products are sold by distributors. It distinguishes between exclusive and nonexclusive distributors, show how the firm can coordinate its bricks-and-mortar and Internet pricing strategies to maximize performance, show how the firm should coordinate its price and advertising strategies when it sells through distributors, and discuss when the firm should use vertical integration strategies. In particular, it shows how the multiproduct firm should coordinate its channel strategy when the distributor also sells multiple products.
Roy C. Smith, Ingo Walter, and Gayle Delong
- Published in print:
- 2012
- Published Online:
- May 2012
- ISBN:
- 9780195335934
- eISBN:
- 9780199932146
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195335934.003.0013
- Subject:
- Economics and Finance, Economic Systems
Future cash flows can be impaired by economic or political events. This chapter discusses the two components of country or cross-border risk, namely economic and political risk. Evaluating country ...
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Future cash flows can be impaired by economic or political events. This chapter discusses the two components of country or cross-border risk, namely economic and political risk. Evaluating country risk is difficult, but building country assessments into the design of international exposure portfolios that are in some sense “efficient” is even more complicated. Neither the risks nor the returns are clearly definable, and even exposure measurement is a difficult task. Portfolio ideas can contribute importantly in clarifying the overall risks. The development of informational and assessment capabilities as part of the country evaluation process can itself lead to improved international exposure decisions that implicitly embody portfolio concepts. The application of these concepts also helps pin down the link between risks and pricing of international loans and bonds.Less
Future cash flows can be impaired by economic or political events. This chapter discusses the two components of country or cross-border risk, namely economic and political risk. Evaluating country risk is difficult, but building country assessments into the design of international exposure portfolios that are in some sense “efficient” is even more complicated. Neither the risks nor the returns are clearly definable, and even exposure measurement is a difficult task. Portfolio ideas can contribute importantly in clarifying the overall risks. The development of informational and assessment capabilities as part of the country evaluation process can itself lead to improved international exposure decisions that implicitly embody portfolio concepts. The application of these concepts also helps pin down the link between risks and pricing of international loans and bonds.
Robert J. Shiller
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198294184
- eISBN:
- 9780191596926
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198294182.001.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics, Financial Economics
This book, which is part of the distinguished Clarendon Lectures in Economics series, puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management ...
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This book, which is part of the distinguished Clarendon Lectures in Economics series, puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing governments and society. Robert Shiller argues that we have largely the wrong financial markets, and that establishing new ones may fundamentally alter and diminish international economic fluctuations (and thus enable better risk management) and reduce the inequality of incomes. Shiller argues that although some risks, such as natural disaster or temporary unemployment, are shared by society, most risks are borne by the individual, and standards of living are determined by luck. He investigates whether a new technology of markets could make risk sharing possible and shows how new contracts could be designed to hedge all manner of risks to the individual's living standards. He proposes new international markets for perpetual claims on national incomes, and on components and aggregates of national incomes, concluding that these markets may well dwarf our stock markets in their activity and significance. He also argues for new liquid international markets for residential and commercial property. Establishing such unprecedented new markets presents some important technical problems that Shiller attempts to solve with proposals for implementing futures markets on perpetual claims on incomes, and for the construction of index numbers for cash settlement of risk management contracts. These new markets could fundamentally alter and diminish international economic fluctuations, and reduce the inequality of incomes around the world. Much of the book is technical, and it is intended mostly for economists, contract designers at futures and options exchanges, originators of swaps and other financial deals, and designers of retail products associated with risk management (such as insurance, pension plans, and mortgages). However, the material within the book is mostly arranged so that a non‐technical reader can follow the broad themes, and until Ch. 6, most of the technical material is relegated to appendices.Less
This book, which is part of the distinguished Clarendon Lectures in Economics series, puts forward a unique and authoritative set of detailed proposals for establishing new markets for the management of the biggest economic risks facing governments and society. Robert Shiller argues that we have largely the wrong financial markets, and that establishing new ones may fundamentally alter and diminish international economic fluctuations (and thus enable better risk management) and reduce the inequality of incomes. Shiller argues that although some risks, such as natural disaster or temporary unemployment, are shared by society, most risks are borne by the individual, and standards of living are determined by luck. He investigates whether a new technology of markets could make risk sharing possible and shows how new contracts could be designed to hedge all manner of risks to the individual's living standards. He proposes new international markets for perpetual claims on national incomes, and on components and aggregates of national incomes, concluding that these markets may well dwarf our stock markets in their activity and significance. He also argues for new liquid international markets for residential and commercial property. Establishing such unprecedented new markets presents some important technical problems that Shiller attempts to solve with proposals for implementing futures markets on perpetual claims on incomes, and for the construction of index numbers for cash settlement of risk management contracts. These new markets could fundamentally alter and diminish international economic fluctuations, and reduce the inequality of incomes around the world. Much of the book is technical, and it is intended mostly for economists, contract designers at futures and options exchanges, originators of swaps and other financial deals, and designers of retail products associated with risk management (such as insurance, pension plans, and mortgages). However, the material within the book is mostly arranged so that a non‐technical reader can follow the broad themes, and until Ch. 6, most of the technical material is relegated to appendices.
Gina Neff
- Published in print:
- 2012
- Published Online:
- August 2013
- ISBN:
- 9780262017480
- eISBN:
- 9780262301305
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262017480.003.0010
- Subject:
- Information Science, Information Science
This chapter addresses the social component in the economic risks. The discourses of risk during the dot-com boom encouraged people to take risks and not to fear failure. The chapter also argues that ...
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This chapter addresses the social component in the economic risks. The discourses of risk during the dot-com boom encouraged people to take risks and not to fear failure. The chapter also argues that the dot-com boom occurred at a moment of transition in U.S. economic history toward riskier work, and that the entrepreneurial spirit which people enacted during the boom was a response to this economic transition. It shows that the dot-com boom helped glorify risks. The chapter also contends that people can invest their social capital in the companies where they work by tapping their personal connections for information and other resources which frequently offer crucial support for their companies. Finally, an overview of the chapters included in the book is given.Less
This chapter addresses the social component in the economic risks. The discourses of risk during the dot-com boom encouraged people to take risks and not to fear failure. The chapter also argues that the dot-com boom occurred at a moment of transition in U.S. economic history toward riskier work, and that the entrepreneurial spirit which people enacted during the boom was a response to this economic transition. It shows that the dot-com boom helped glorify risks. The chapter also contends that people can invest their social capital in the companies where they work by tapping their personal connections for information and other resources which frequently offer crucial support for their companies. Finally, an overview of the chapters included in the book is given.
Gernot Grabher and David Stark
- Published in print:
- 1996
- Published Online:
- October 2011
- ISBN:
- 9780198290209
- eISBN:
- 9780191684791
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198290209.003.0012
- Subject:
- Business and Management, Organization Studies, Political Economy
This chapter discusses that the real process of privatization is composed of a chain of constraints and dilemmas and that the institutional design of privatization plays a central role in coping with ...
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This chapter discusses that the real process of privatization is composed of a chain of constraints and dilemmas and that the institutional design of privatization plays a central role in coping with these constraints and dilemmas. It concentrates on the creation and adoption of the institutional design of a privatization linchpin such as the East German Treuhandanstalt. This was a government holding company set up to sell off or close down the state-owned businesses and property of the GDR. The chapter also describes the institutional dynamics of the privatization process in the former GDR as reflected in the organizational development of Treuhandanstalt. The chapter argues that the logic of these dynamics was formulated by the need to build-up an organization of around 4,000 employees in less than twelve months; the need to control the social and political costs of privatization; and the need to cope with the economic risks surrounding the rapidity of privatization.Less
This chapter discusses that the real process of privatization is composed of a chain of constraints and dilemmas and that the institutional design of privatization plays a central role in coping with these constraints and dilemmas. It concentrates on the creation and adoption of the institutional design of a privatization linchpin such as the East German Treuhandanstalt. This was a government holding company set up to sell off or close down the state-owned businesses and property of the GDR. The chapter also describes the institutional dynamics of the privatization process in the former GDR as reflected in the organizational development of Treuhandanstalt. The chapter argues that the logic of these dynamics was formulated by the need to build-up an organization of around 4,000 employees in less than twelve months; the need to control the social and political costs of privatization; and the need to cope with the economic risks surrounding the rapidity of privatization.
Wolfgang Streeck
- Published in print:
- 2010
- Published Online:
- October 2011
- ISBN:
- 9780199573981
- eISBN:
- 9780191702136
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199573981.003.0007
- Subject:
- Business and Management, Political Economy, International Business
Germany Inc., which was composed of financial institutions like Deutsche Bank and Allianz, and which can be informally associated with the government and the state, presented firms with protection ...
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Germany Inc., which was composed of financial institutions like Deutsche Bank and Allianz, and which can be informally associated with the government and the state, presented firms with protection against various political and economic risks such as minority shareholder pressure, potential takeovers, and socialist and trade union demands for economic planning or nationalization. This network of German firms provided the government with the ability to deal not just with German business as a whole but to separate it from collective commitments that concerned issues in the public interest. As large German banks gradually abandoned the notion of making cheap credit available and discontinuing to serve as semi-public financial infrastructure, the decline of German Inc. began. This chapter attempts to illustrate first the role of Germany Inc. in Germany's economy and how this company slowly disintegrated because of the transformation of the roles of banks.Less
Germany Inc., which was composed of financial institutions like Deutsche Bank and Allianz, and which can be informally associated with the government and the state, presented firms with protection against various political and economic risks such as minority shareholder pressure, potential takeovers, and socialist and trade union demands for economic planning or nationalization. This network of German firms provided the government with the ability to deal not just with German business as a whole but to separate it from collective commitments that concerned issues in the public interest. As large German banks gradually abandoned the notion of making cheap credit available and discontinuing to serve as semi-public financial infrastructure, the decline of German Inc. began. This chapter attempts to illustrate first the role of Germany Inc. in Germany's economy and how this company slowly disintegrated because of the transformation of the roles of banks.
Nicholas Barr and Peter Diamond
- Published in print:
- 2008
- Published Online:
- September 2009
- ISBN:
- 9780195311303
- eISBN:
- 9780199893461
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195311303.003.0004
- Subject:
- Economics and Finance, Financial Economics
The setting for the analysis of pensions includes the central role of output, and the facts that imperfect consumer information and decision making are widespread, pension systems face large risks, ...
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The setting for the analysis of pensions includes the central role of output, and the facts that imperfect consumer information and decision making are widespread, pension systems face large risks, including economic, demographic, and political risks, and potentially administrative costs can be very high.Less
The setting for the analysis of pensions includes the central role of output, and the facts that imperfect consumer information and decision making are widespread, pension systems face large risks, including economic, demographic, and political risks, and potentially administrative costs can be very high.
Thomas Faist
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198293910
- eISBN:
- 9780191685002
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198293910.003.0004
- Subject:
- Political Science, International Relations and Politics
Once the broader opportunities are set, the familiar story about evolving migration dynamics goes like this: as migration flows develop, potential migrants who have stayed at home can move in ...
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Once the broader opportunities are set, the familiar story about evolving migration dynamics goes like this: as migration flows develop, potential migrants who have stayed at home can move in increasing numbers. For this to occur, migrant networks need to form: With the existence of migration networks and the support they carry, it becomes easier to travel abroad, to find work and housing, to get adjusted to new types of work, to change jobs, to find child care, to keep in touch with the country of origin, and to consummate communal and spiritual needs. Information then flows through personal contacts, such as recurrent, transilient, and return migrants, and within immigrant clusters, such as manifold Landsmannschaften. In short, migrant networks, reduce the economic and psychological risks and costs associated with international long-distance migration.Less
Once the broader opportunities are set, the familiar story about evolving migration dynamics goes like this: as migration flows develop, potential migrants who have stayed at home can move in increasing numbers. For this to occur, migrant networks need to form: With the existence of migration networks and the support they carry, it becomes easier to travel abroad, to find work and housing, to get adjusted to new types of work, to change jobs, to find child care, to keep in touch with the country of origin, and to consummate communal and spiritual needs. Information then flows through personal contacts, such as recurrent, transilient, and return migrants, and within immigrant clusters, such as manifold Landsmannschaften. In short, migrant networks, reduce the economic and psychological risks and costs associated with international long-distance migration.
Christopher Hodges
- Published in print:
- 2005
- Published Online:
- March 2012
- ISBN:
- 9780199282555
- eISBN:
- 9780191700217
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199282555.003.0014
- Subject:
- Law, EU Law
The way in which a product is used can affect its level of safety, as discussed in relation to the need for controls on design and on instructions for use. Indeed, the evidence is that accidents are ...
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The way in which a product is used can affect its level of safety, as discussed in relation to the need for controls on design and on instructions for use. Indeed, the evidence is that accidents are predominantly caused by the incorrect use of products. Regulatory controls exist on virtually all commercial actors in the distribution chain, but not systematically on users. On one view, this might be irrational, in that the objective is to ensure safe use. As a consequence under private law, causing an accident to oneself will mean that compensation is not claimable from the producer or supplier absent a product defect or negligence, or the compensation is reduced because of contributory negligence, so the economic risk is allocated to the user in those circumstances. However, in the regulatory context, manufacturers are sometimes required to take into account known or foreseeable risks when designing or labelling their products.Less
The way in which a product is used can affect its level of safety, as discussed in relation to the need for controls on design and on instructions for use. Indeed, the evidence is that accidents are predominantly caused by the incorrect use of products. Regulatory controls exist on virtually all commercial actors in the distribution chain, but not systematically on users. On one view, this might be irrational, in that the objective is to ensure safe use. As a consequence under private law, causing an accident to oneself will mean that compensation is not claimable from the producer or supplier absent a product defect or negligence, or the compensation is reduced because of contributory negligence, so the economic risk is allocated to the user in those circumstances. However, in the regulatory context, manufacturers are sometimes required to take into account known or foreseeable risks when designing or labelling their products.
Gina Neff
- Published in print:
- 2012
- Published Online:
- August 2013
- ISBN:
- 9780262017480
- eISBN:
- 9780262301305
- Item type:
- book
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262017480.001.0001
- Subject:
- Information Science, Information Science
In the dot-com boom of the late 1990s, employees of Internet startups took risks—left well-paying jobs for the chance of striking it rich through stock options (only to end up unemployed a year ...
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In the dot-com boom of the late 1990s, employees of Internet startups took risks—left well-paying jobs for the chance of striking it rich through stock options (only to end up unemployed a year later), relocated to areas that were epicenters of a booming industry (which shortly went bust), chose the opportunity to be creative over the stability of a set schedule. This book investigates choices such as these made by high-tech workers in New York City’s “Silicon Alley” in the 1990s. Why did these workers exhibit entrepreneurial behavior in their jobs—investing time, energy, and other personal resources that the author terms “venture labor”—when they themselves were employees and not entrepreneurs? The author argues that this behavior was part of a broader shift in society in which economic risk shifted away from collective responsibility toward individual responsibility. In the new economy, risk and reward took the place of job loyalty, and the dot-com boom helped glorify risks. Company flexibility was gained at the expense of employee security. Through extensive interviews, the author finds not the triumph of the entrepreneurial spirit but a mixture of motivations and strategies, informed variously by bravado, naïveté, and cold calculation. She connects these individual choices with larger social and economic structures, making it clear that understanding venture labor is of paramount importance for encouraging innovation and, even more important, for creating sustainable work environments which support workers.Less
In the dot-com boom of the late 1990s, employees of Internet startups took risks—left well-paying jobs for the chance of striking it rich through stock options (only to end up unemployed a year later), relocated to areas that were epicenters of a booming industry (which shortly went bust), chose the opportunity to be creative over the stability of a set schedule. This book investigates choices such as these made by high-tech workers in New York City’s “Silicon Alley” in the 1990s. Why did these workers exhibit entrepreneurial behavior in their jobs—investing time, energy, and other personal resources that the author terms “venture labor”—when they themselves were employees and not entrepreneurs? The author argues that this behavior was part of a broader shift in society in which economic risk shifted away from collective responsibility toward individual responsibility. In the new economy, risk and reward took the place of job loyalty, and the dot-com boom helped glorify risks. Company flexibility was gained at the expense of employee security. Through extensive interviews, the author finds not the triumph of the entrepreneurial spirit but a mixture of motivations and strategies, informed variously by bravado, naïveté, and cold calculation. She connects these individual choices with larger social and economic structures, making it clear that understanding venture labor is of paramount importance for encouraging innovation and, even more important, for creating sustainable work environments which support workers.
Gina Neff
- Published in print:
- 2012
- Published Online:
- August 2013
- ISBN:
- 9780262017480
- eISBN:
- 9780262301305
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262017480.003.0037
- Subject:
- Information Science, Information Science
This chapter concentrates on the strategies that people in Silicon Alley used for managing the economic risks they felt they faced. It utilizes the interview data to build a typology of venture labor ...
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This chapter concentrates on the strategies that people in Silicon Alley used for managing the economic risks they felt they faced. It utilizes the interview data to build a typology of venture labor strategies that is rooted in the valuation process, and describes how people talked about the risks they faced and what communicative frameworks they used to manage these risks. The chapter also discusses in detail the strategies for managing risk among Silicon Alley workers—financial, creative, and actuarial—and shows that they are coconstitutive of the industrial space of Silicon Alley. These strategies also emphasize the different approaches to economic uncertainty undertaken by people who worked within the industry. Moreover, people are adapting to a new, generalized work insecurity.Less
This chapter concentrates on the strategies that people in Silicon Alley used for managing the economic risks they felt they faced. It utilizes the interview data to build a typology of venture labor strategies that is rooted in the valuation process, and describes how people talked about the risks they faced and what communicative frameworks they used to manage these risks. The chapter also discusses in detail the strategies for managing risk among Silicon Alley workers—financial, creative, and actuarial—and shows that they are coconstitutive of the industrial space of Silicon Alley. These strategies also emphasize the different approaches to economic uncertainty undertaken by people who worked within the industry. Moreover, people are adapting to a new, generalized work insecurity.
Jacob S. Hacker
- Published in print:
- 2012
- Published Online:
- February 2015
- ISBN:
- 9780199781911
- eISBN:
- 9780190252519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199781911.003.0001
- Subject:
- Political Science, American Politics
This chapter focuses on the “Great Risk Shift”, the transformation of the U.S. economy and society that has increased the economic insecurity of the nation's workers and their families. It attributes ...
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This chapter focuses on the “Great Risk Shift”, the transformation of the U.S. economy and society that has increased the economic insecurity of the nation's workers and their families. It attributes this transformation to the erosion of America's distinctive framework of economic security over the last generation due to growing economic pressures on employers, together with rising political resistance to the ideal of economic security itself. The chapter then turns to the job market and the family as sources of economic risk, along with the rising instability of family incomes and the American family's growing debt. It also examines what can be done to address the Great Risk Shift, citing President Barack Obama's legislative landmarks of 2009 and 2010, including the Patient Protection and Affordable Care Act, as a major step forward. Finally, it proposes policy initiatives to enhance economic security as well as economic opportunity.Less
This chapter focuses on the “Great Risk Shift”, the transformation of the U.S. economy and society that has increased the economic insecurity of the nation's workers and their families. It attributes this transformation to the erosion of America's distinctive framework of economic security over the last generation due to growing economic pressures on employers, together with rising political resistance to the ideal of economic security itself. The chapter then turns to the job market and the family as sources of economic risk, along with the rising instability of family incomes and the American family's growing debt. It also examines what can be done to address the Great Risk Shift, citing President Barack Obama's legislative landmarks of 2009 and 2010, including the Patient Protection and Affordable Care Act, as a major step forward. Finally, it proposes policy initiatives to enhance economic security as well as economic opportunity.
Emily C. Nacol
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691165103
- eISBN:
- 9781400883011
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691165103.003.0003
- Subject:
- Philosophy, Political Philosophy
This chapter explains how John Locke's work on epistemology, politics, and economy can be read as a sustained meditation on the relationship of risk and trust. The extensive literature on trust and ...
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This chapter explains how John Locke's work on epistemology, politics, and economy can be read as a sustained meditation on the relationship of risk and trust. The extensive literature on trust and authority in Locke's work establishes that he thinks citizens' trust in the state helps them organize and survive in the face of uncertainty, as well as manage the risks they might find in the future. This chapter argues that Lockean political trust is actually more closely related to risk than it appears at first glance. Political trust, Locke theorizes, is actually underwritten by the perpetual work of risk calculation and probabilistic reasoning by citizens. His work shows that if a strong central state is the institution that manages political and economic risk for subjects, then those subjects still must scrutinize the state as a new risk, using whatever cognitive tools they have at their disposal.Less
This chapter explains how John Locke's work on epistemology, politics, and economy can be read as a sustained meditation on the relationship of risk and trust. The extensive literature on trust and authority in Locke's work establishes that he thinks citizens' trust in the state helps them organize and survive in the face of uncertainty, as well as manage the risks they might find in the future. This chapter argues that Lockean political trust is actually more closely related to risk than it appears at first glance. Political trust, Locke theorizes, is actually underwritten by the perpetual work of risk calculation and probabilistic reasoning by citizens. His work shows that if a strong central state is the institution that manages political and economic risk for subjects, then those subjects still must scrutinize the state as a new risk, using whatever cognitive tools they have at their disposal.
Mariano-Florentino Cuéllar and Connor Raso
- Published in print:
- 2012
- Published Online:
- February 2015
- ISBN:
- 9780199781911
- eISBN:
- 9780190252519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199781911.003.0004
- Subject:
- Political Science, American Politics
This chapter examines the relationship between economic security and the broader national security agenda in the United States. It begins by outlining some of the common features of economic policy ...
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This chapter examines the relationship between economic security and the broader national security agenda in the United States. It begins by outlining some of the common features of economic policy and national security, focusing on how politicians balance the domestic regulation of economic risk with the external defense of the nation. It then considers the implications of fiscal constraints for elements of economic security such as health insurance and social security, and for the resources available for national security. The chapter also discusses the effect of social capital on national security, how the concept of state institutional capacity links national security to the management of economic risks, and how economic security affects the long-term viability of a nation-state. Finally, it assesses the implications of the relationship between economic security and national security for modern states and their citizens.Less
This chapter examines the relationship between economic security and the broader national security agenda in the United States. It begins by outlining some of the common features of economic policy and national security, focusing on how politicians balance the domestic regulation of economic risk with the external defense of the nation. It then considers the implications of fiscal constraints for elements of economic security such as health insurance and social security, and for the resources available for national security. The chapter also discusses the effect of social capital on national security, how the concept of state institutional capacity links national security to the management of economic risks, and how economic security affects the long-term viability of a nation-state. Finally, it assesses the implications of the relationship between economic security and national security for modern states and their citizens.
Ann O’Leary
Jacob S. Hacker (ed.)
- Published in print:
- 2012
- Published Online:
- February 2015
- ISBN:
- 9780199781911
- eISBN:
- 9780190252519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199781911.003.0014
- Subject:
- Political Science, American Politics
This chapter discusses lessons from the past and prospects for the future with regards to sharing economic risks, with particular reference to the so-called Great Risk Shift and the government's role ...
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This chapter discusses lessons from the past and prospects for the future with regards to sharing economic risks, with particular reference to the so-called Great Risk Shift and the government's role as risk managers. It highlights the political nature of economic security as well as public opinion with regards to government and its role in the economy. It also looks at the history of risk management and trends in risk management in the United States before discussing the need to rethink the way economic risk is managed. More specifically, it envisions a new kind of social contract between employers and the government to protect workers against certain risks, particularly those involving retirement, long-term care, and home ownership. Furthermore, the chapter argues that the government needs to reconsider its agreements with workers and families about how they use existing programs and incentives, such as those relating to taxes and social insurance. Finally, it examines U.S. fiscal policy and assesses future prospects for economic security.Less
This chapter discusses lessons from the past and prospects for the future with regards to sharing economic risks, with particular reference to the so-called Great Risk Shift and the government's role as risk managers. It highlights the political nature of economic security as well as public opinion with regards to government and its role in the economy. It also looks at the history of risk management and trends in risk management in the United States before discussing the need to rethink the way economic risk is managed. More specifically, it envisions a new kind of social contract between employers and the government to protect workers against certain risks, particularly those involving retirement, long-term care, and home ownership. Furthermore, the chapter argues that the government needs to reconsider its agreements with workers and families about how they use existing programs and incentives, such as those relating to taxes and social insurance. Finally, it examines U.S. fiscal policy and assesses future prospects for economic security.
Amitabh Chandra and Andrew A. Samwick (eds)
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226132310
- eISBN:
- 9780226132327
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226132327.003.0011
- Subject:
- Economics and Finance, Public and Welfare
This chapter evaluates the economic risk associated with a work disability. It specifically covers the magnitude of the disability risk, the extent of precautionary saving for potential disability, ...
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This chapter evaluates the economic risk associated with a work disability. It specifically covers the magnitude of the disability risk, the extent of precautionary saving for potential disability, and the value of disability insurance. The chapter shows that disability risk is addressed much more effectively through disability insurance. Only small differences across cohorts in disability through the age of fifty-four are observed. Disability rates between older and younger men, and older and younger women, are becoming more similar. A decline in disability for men over the age of fifty-five in the past twenty years is also found. Additionally, the prevalence of a work-limiting disability at a typical age of retirement, across all demographic groups and for the average year in the sample, is 15 percent. The age-disability profile is fairly stable across time and demographic groups.Less
This chapter evaluates the economic risk associated with a work disability. It specifically covers the magnitude of the disability risk, the extent of precautionary saving for potential disability, and the value of disability insurance. The chapter shows that disability risk is addressed much more effectively through disability insurance. Only small differences across cohorts in disability through the age of fifty-four are observed. Disability rates between older and younger men, and older and younger women, are becoming more similar. A decline in disability for men over the age of fifty-five in the past twenty years is also found. Additionally, the prevalence of a work-limiting disability at a typical age of retirement, across all demographic groups and for the average year in the sample, is 15 percent. The age-disability profile is fairly stable across time and demographic groups.
Jonathan Hopkin
- Published in print:
- 2020
- Published Online:
- August 2020
- ISBN:
- 9780190699765
- eISBN:
- 9780190097707
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190699765.003.0003
- Subject:
- Political Science, Comparative Politics, Political Economy
This chapter analyzes the electoral successes of anti-system forces, looking at how differences in the social, economic, and political institutions in rich democracies determine the extent and nature ...
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This chapter analyzes the electoral successes of anti-system forces, looking at how differences in the social, economic, and political institutions in rich democracies determine the extent and nature of anti-system support. Anti-system politics is stronger in countries that are structurally prone to run trade deficits, have weak or badly designed welfare states, and have electoral rules that artificially suppress the range of political options voters can choose from. The chapter also shows that the ways in which welfare systems distribute exposure to economic risks predict whether anti-system politics takes a predominantly left-wing or right-wing direction. Right-wing anti-system politics is successful in creditor countries with very inclusive welfare states. Meanwhile, left-wing anti-system politics is stronger in debtor countries with “dualistic” welfare states.Less
This chapter analyzes the electoral successes of anti-system forces, looking at how differences in the social, economic, and political institutions in rich democracies determine the extent and nature of anti-system support. Anti-system politics is stronger in countries that are structurally prone to run trade deficits, have weak or badly designed welfare states, and have electoral rules that artificially suppress the range of political options voters can choose from. The chapter also shows that the ways in which welfare systems distribute exposure to economic risks predict whether anti-system politics takes a predominantly left-wing or right-wing direction. Right-wing anti-system politics is successful in creditor countries with very inclusive welfare states. Meanwhile, left-wing anti-system politics is stronger in debtor countries with “dualistic” welfare states.
Martha Minow
- Published in print:
- 2012
- Published Online:
- February 2015
- ISBN:
- 9780199781911
- eISBN:
- 9780190252519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199781911.003.0013
- Subject:
- Political Science, American Politics
This chapter focuses on the social shift of economic risk to individuals and the need to overcome the barriers—psychological, cognitive, analytic, and ideological—to understanding the risk ...
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This chapter focuses on the social shift of economic risk to individuals and the need to overcome the barriers—psychological, cognitive, analytic, and ideological—to understanding the risk allocation. It begins with a historical overview of risks to human health, welfare, and well-being before explaining why it is difficult to see risk and its shift from government and businesses to individuals and families. It then looks at policy proposals to address these shifts, from income support to consumer credit reforms. The chapter concludes by arguing that democratic action toward addressing social policy challenges posed by these shifts is not possible in the absence of a greater sense of shared risks and shared responsibility.Less
This chapter focuses on the social shift of economic risk to individuals and the need to overcome the barriers—psychological, cognitive, analytic, and ideological—to understanding the risk allocation. It begins with a historical overview of risks to human health, welfare, and well-being before explaining why it is difficult to see risk and its shift from government and businesses to individuals and families. It then looks at policy proposals to address these shifts, from income support to consumer credit reforms. The chapter concludes by arguing that democratic action toward addressing social policy challenges posed by these shifts is not possible in the absence of a greater sense of shared risks and shared responsibility.
Neil Gilbert
- Published in print:
- 2012
- Published Online:
- February 2015
- ISBN:
- 9780199781911
- eISBN:
- 9780190252519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:osobl/9780199781911.003.0003
- Subject:
- Political Science, American Politics
This chapter examines the economic crisis of 2008 and its policy implications for modern welfare states. It begins by analyzing several trends that link the immediate economic predicament to a ...
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This chapter examines the economic crisis of 2008 and its policy implications for modern welfare states. It begins by analyzing several trends that link the immediate economic predicament to a broader social context, focusing on modern welfare states that have experienced a number of key policy-related developments involving employment measures, public and private expenditures, welfare demand, and labor force participation. It then explores these developments in relation to the shifting degrees of responsibility for managing economic risk among governments, individuals, and employers. It looks at these shifts from a comparative cross-national perspective, comparing U.S. experiences to those of other advanced industrial democracies and highlighting the various implications for risk and insecurity. More precisely, the chapter discusses the relationship between social expenditure and taxation in the Organisation for Economic Co-operation and Development (OECD) member countries; the impact of the recent economic crisis on government spending on social welfare programs; and the increased privatization of certain social welfare benefits.Less
This chapter examines the economic crisis of 2008 and its policy implications for modern welfare states. It begins by analyzing several trends that link the immediate economic predicament to a broader social context, focusing on modern welfare states that have experienced a number of key policy-related developments involving employment measures, public and private expenditures, welfare demand, and labor force participation. It then explores these developments in relation to the shifting degrees of responsibility for managing economic risk among governments, individuals, and employers. It looks at these shifts from a comparative cross-national perspective, comparing U.S. experiences to those of other advanced industrial democracies and highlighting the various implications for risk and insecurity. More precisely, the chapter discusses the relationship between social expenditure and taxation in the Organisation for Economic Co-operation and Development (OECD) member countries; the impact of the recent economic crisis on government spending on social welfare programs; and the increased privatization of certain social welfare benefits.