Steve Vanderheiden
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780195334609
- eISBN:
- 9780199868759
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195334609.001.0001
- Subject:
- Political Science, Environmental Politics
When policies of or activities within one country and generation cause deleterious consequences for those of other nations and later generations, they can constitute serious injustices. Hence, ...
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When policies of or activities within one country and generation cause deleterious consequences for those of other nations and later generations, they can constitute serious injustices. Hence, anthropogenic climate change poses not only a global environmental threat, but also one to international and intergenerational justice. The avoidance of such injustice has been recognized as a primary objective of global climate policy, and this book aims to comprehend the nature of this objective–to explore how climate change raises issues of international and intergenerational justice and to consider how the design of a global climate regime might these aims into account. Enlisting conceptual tools from ethics as well as legal and political theory, it treats justice as concerned with equity and responsibility and considers how each is undermined by climate change but might be incorporated into climate policy. Various theoretical problems in applying norms of equity and responsibility across borders, over time, and to nations for their greenhouse emissions are considered, and responses are given to these challenges. Finally, an outline for a global climate policy that adequately incorporates norms of justice is articulated and defended, along with a case for procedural fairness in policy development processes. Demonstrating how political theory can usefully contribute toward better understanding the proper human response to climate change as well as how the climate case offers insights into resolving contemporary controversies within political theory, the book offers a case study in which the application of normative theory to policy allows readers to better understand both.Less
When policies of or activities within one country and generation cause deleterious consequences for those of other nations and later generations, they can constitute serious injustices. Hence, anthropogenic climate change poses not only a global environmental threat, but also one to international and intergenerational justice. The avoidance of such injustice has been recognized as a primary objective of global climate policy, and this book aims to comprehend the nature of this objective–to explore how climate change raises issues of international and intergenerational justice and to consider how the design of a global climate regime might these aims into account. Enlisting conceptual tools from ethics as well as legal and political theory, it treats justice as concerned with equity and responsibility and considers how each is undermined by climate change but might be incorporated into climate policy. Various theoretical problems in applying norms of equity and responsibility across borders, over time, and to nations for their greenhouse emissions are considered, and responses are given to these challenges. Finally, an outline for a global climate policy that adequately incorporates norms of justice is articulated and defended, along with a case for procedural fairness in policy development processes. Demonstrating how political theory can usefully contribute toward better understanding the proper human response to climate change as well as how the climate case offers insights into resolving contemporary controversies within political theory, the book offers a case study in which the application of normative theory to policy allows readers to better understand both.
Wilfred Beckerman and Joanna Pasek
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199245086
- eISBN:
- 9780191598784
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199245088.001.0001
- Subject:
- Political Science, Environmental Politics
In rich countries, environmental problems are seen as problems of prosperity. In poor countries, they are seen as problems of poverty. This is because the environmental problems in poor ...
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In rich countries, environmental problems are seen as problems of prosperity. In poor countries, they are seen as problems of poverty. This is because the environmental problems in poor countries—such as lack of clean drinking water or decent sanitation—are problems that affect them here and now, whereas in rich countries the environmental problems that people worry about most—largely as a result of current prosperity and economic growth—are those that seem likely to harm mainly posterity and hence violate our obligations to future generations.But what exactly are our obligations to future generations? Are they determined by some sort of ethical system, such as the ‘rights’ of future generations, or justice between generations, or intergenerational equity, or sustainable development? The first part of this book is addressed to these questions. It is argued that while ethical ‘systems’ do not provide much help, we still have moral obligations to take account of the interests that future generations will have. But an appraisal of these interests in the light of probable future developments suggests that, while environmental problems have to be taken seriously, our main obligation to future generations is to bequeath to them a more decent society in which there is greater respect for basic human rights than is the case today throughout most of the world.Furthermore, it cannot serve the interests of justice if the burden of protecting the environment for the benefit of posterity is born mainly by poorer people today. More resources devoted to the environment means fewer are devoted competing claims for, say, health care or education or housing, not to mention plain private consumption. And in poor countries millions of people suffer from acute lack of sanitation, clean drinking water, shelter, and basic infrastructures to prevent or cure widespread disease. Neither generations nor nations are homogeneous entities. The later chapters of this book, therefore, are addressed to the ethical aspects of the way that resources ought to be shared out between environmental protection and competing uses in all countries, and how the burden of dealing with global environmental problems ought to be shared out between rich and poor nations.Less
In rich countries, environmental problems are seen as problems of prosperity. In poor countries, they are seen as problems of poverty. This is because the environmental problems in poor countries—such as lack of clean drinking water or decent sanitation—are problems that affect them here and now, whereas in rich countries the environmental problems that people worry about most—largely as a result of current prosperity and economic growth—are those that seem likely to harm mainly posterity and hence violate our obligations to future generations.
But what exactly are our obligations to future generations? Are they determined by some sort of ethical system, such as the ‘rights’ of future generations, or justice between generations, or intergenerational equity, or sustainable development? The first part of this book is addressed to these questions. It is argued that while ethical ‘systems’ do not provide much help, we still have moral obligations to take account of the interests that future generations will have. But an appraisal of these interests in the light of probable future developments suggests that, while environmental problems have to be taken seriously, our main obligation to future generations is to bequeath to them a more decent society in which there is greater respect for basic human rights than is the case today throughout most of the world.
Furthermore, it cannot serve the interests of justice if the burden of protecting the environment for the benefit of posterity is born mainly by poorer people today. More resources devoted to the environment means fewer are devoted competing claims for, say, health care or education or housing, not to mention plain private consumption. And in poor countries millions of people suffer from acute lack of sanitation, clean drinking water, shelter, and basic infrastructures to prevent or cure widespread disease. Neither generations nor nations are homogeneous entities. The later chapters of this book, therefore, are addressed to the ethical aspects of the way that resources ought to be shared out between environmental protection and competing uses in all countries, and how the burden of dealing with global environmental problems ought to be shared out between rich and poor nations.
Roger M. Barker
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199576814
- eISBN:
- 9780191722509
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199576814.003.0004
- Subject:
- Business and Management, International Business, Corporate Governance and Accountability
An evaluation is made of various ways in which corporate governance can be operationalized as part of a panel data econometric analysis. Corporate governance is not a concept that can be directly ...
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An evaluation is made of various ways in which corporate governance can be operationalized as part of a panel data econometric analysis. Corporate governance is not a concept that can be directly observed. Consequently, it is necessary to identify suitable proxy variables. Given the pros and cons of different measures of corporate governance, it is decided to undertake the empirical analysis with three plausible proxies – equity share, value traded, and international equity issuance – rather than to base conclusions on a single measure. Other potential measures of corporate governance – such as ownership concentration, corporate governance ratings, and measures of corporate governance regulation – are not utilized for various conceptual and practical reasons.Less
An evaluation is made of various ways in which corporate governance can be operationalized as part of a panel data econometric analysis. Corporate governance is not a concept that can be directly observed. Consequently, it is necessary to identify suitable proxy variables. Given the pros and cons of different measures of corporate governance, it is decided to undertake the empirical analysis with three plausible proxies – equity share, value traded, and international equity issuance – rather than to base conclusions on a single measure. Other potential measures of corporate governance – such as ownership concentration, corporate governance ratings, and measures of corporate governance regulation – are not utilized for various conceptual and practical reasons.
Jan Abel Olsen
- Published in print:
- 2009
- Published Online:
- May 2010
- ISBN:
- 9780199237814
- eISBN:
- 9780191717215
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199237814.001.0001
- Subject:
- Public Health and Epidemiology, Public Health, Epidemiology
Principles in Health Economics and Policy is a concise introduction to health economics and its application to health policy. It introduces the subject of economics, explains the ...
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Principles in Health Economics and Policy is a concise introduction to health economics and its application to health policy. It introduces the subject of economics, explains the fundamental failures in the market for health care, and discusses the concepts of equity and fairness when applied to health and health care. The book takes a policy-oriented approach, emphasizing the application of economic analysis to universal health policy issues. It explores the key questions facing health policy-makers across the globe right now, such as: how should society intervene in the determinants that affect health? How should health care be financed? How should health care providers be paid? And, how should alternative health care programmes be evaluated when setting priorities? Exercises and suggested readings are included after each chapter.Less
Principles in Health Economics and Policy is a concise introduction to health economics and its application to health policy. It introduces the subject of economics, explains the fundamental failures in the market for health care, and discusses the concepts of equity and fairness when applied to health and health care. The book takes a policy-oriented approach, emphasizing the application of economic analysis to universal health policy issues. It explores the key questions facing health policy-makers across the globe right now, such as: how should society intervene in the determinants that affect health? How should health care be financed? How should health care providers be paid? And, how should alternative health care programmes be evaluated when setting priorities? Exercises and suggested readings are included after each chapter.
David Schlosberg
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780199256419
- eISBN:
- 9780191600203
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199256411.003.0001
- Subject:
- Political Science, Environmental Politics
The main issues addressed in the book are introduced, starting with discussion of the great diversity in the environmental movement, and making the point that the major groups of the movement in the ...
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The main issues addressed in the book are introduced, starting with discussion of the great diversity in the environmental movement, and making the point that the major groups of the movement in the United States, in taking on the role of interest groups in the liberal pluralist model, have excluded and marginalized many positions. The study to be made is described as focusing on two key concerns: how to acknowledge and recognize, rather than deny, diversity in environmentalism; and how to organize that diversity politically in a manner more inclusive than the liberal, or mainstream, environmental model. Different sections of the chapter discuss: the problems with conventional (liberal) pluralism; the democratic potential of the recognition by grassroots environmentalism of different experiences of the same event; the notion of justice embodied in the environmental justice movement – distributional equity (which can be achieved through procedural equity), recognition of the diversity of participants and experiences, and political participation (the demand for more public participation in the development, implementation, and oversight of environmental policy); and pluralism in theory and practice. The final section of the chapter provides a preview and plan of the book.Less
The main issues addressed in the book are introduced, starting with discussion of the great diversity in the environmental movement, and making the point that the major groups of the movement in the United States, in taking on the role of interest groups in the liberal pluralist model, have excluded and marginalized many positions. The study to be made is described as focusing on two key concerns: how to acknowledge and recognize, rather than deny, diversity in environmentalism; and how to organize that diversity politically in a manner more inclusive than the liberal, or mainstream, environmental model. Different sections of the chapter discuss: the problems with conventional (liberal) pluralism; the democratic potential of the recognition by grassroots environmentalism of different experiences of the same event; the notion of justice embodied in the environmental justice movement – distributional equity (which can be achieved through procedural equity), recognition of the diversity of participants and experiences, and political participation (the demand for more public participation in the development, implementation, and oversight of environmental policy); and pluralism in theory and practice. The final section of the chapter provides a preview and plan of the book.
J. Mohan Rao, Ethan B. Kapstein, and Amartya Sen
- Published in print:
- 1999
- Published Online:
- November 2003
- ISBN:
- 9780195130522
- eISBN:
- 9780199867363
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195130529.003.0004
- Subject:
- Economics and Finance, Public and Welfare
Economic and cultural globalization seem to have ushered in an awkward and potentially unstable period of transition for the world. Even if one supposes that free trade and unrestricted capital ...
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Economic and cultural globalization seem to have ushered in an awkward and potentially unstable period of transition for the world. Even if one supposes that free trade and unrestricted capital mobility can eventually result in global factor price equalization and international equality, the transition may take decades if not centuries. At stake are questions of how to distribute the costs incurred, and the benefits to be derived, by cooperative action to create global public goods or minimize global public bads. Questions of equity are also implicated in the origin of the global problems themselves. International negotiations are influenced by unequal economic and bargaining strengths and the diverse stages of development at which nations find themselves.The basic argument of this chapter is that equity and distributional criteria must be at the core of a global public goods framework for international cooperation. There are several reasons behind this. First, equity and justice promote cooperative behavior, itself needed for the provision of public goods. Second, when the system is perceived to be fair and equitable, nations will participate in it willingly. Third, global equity is itself a public good that, without cooperation or coercion (i.e., in a decentralized setting), may be undersupplied. The undersupply may be because, e.g., there is no private market through which nations or individuals may meet their need to give.Thus, the first section of this chapter sets the stage by outlining the continuing role of inequality among nations in shaping the world. The second section considers the potential instrumental value of social cohesion in public goods supply (equity for public goods). After that, the chapter considers how distributional factors affect the demand and supply of public goods. Then, it pursues the proposition (originally from Thurow, 1971) that the distribution of income is itself a public good. The final section offers conclusions. The rest of the chapter illustrates the value of equity for the production of public goods, in the distribution of public goods, and as a public good itself.Less
Economic and cultural globalization seem to have ushered in an awkward and potentially unstable period of transition for the world. Even if one supposes that free trade and unrestricted capital mobility can eventually result in global factor price equalization and international equality, the transition may take decades if not centuries. At stake are questions of how to distribute the costs incurred, and the benefits to be derived, by cooperative action to create global public goods or minimize global public bads. Questions of equity are also implicated in the origin of the global problems themselves. International negotiations are influenced by unequal economic and bargaining strengths and the diverse stages of development at which nations find themselves.
The basic argument of this chapter is that equity and distributional criteria must be at the core of a global public goods framework for international cooperation. There are several reasons behind this. First, equity and justice promote cooperative behavior, itself needed for the provision of public goods. Second, when the system is perceived to be fair and equitable, nations will participate in it willingly. Third, global equity is itself a public good that, without cooperation or coercion (i.e., in a decentralized setting), may be undersupplied. The undersupply may be because, e.g., there is no private market through which nations or individuals may meet their need to give.
Thus, the first section of this chapter sets the stage by outlining the continuing role of inequality among nations in shaping the world. The second section considers the potential instrumental value of social cohesion in public goods supply (equity for public goods). After that, the chapter considers how distributional factors affect the demand and supply of public goods. Then, it pursues the proposition (originally from Thurow, 1971) that the distribution of income is itself a public good. The final section offers conclusions. The rest of the chapter illustrates the value of equity for the production of public goods, in the distribution of public goods, and as a public good itself.
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/9780195371055.003.0019
- Subject:
- Business and Management, Marketing
This chapter discusses the conditions under which brand equity can exist and whether brand equity implies charging high prices. It evaluates the use of standard metrics for measuring brand equity ...
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This chapter discusses the conditions under which brand equity can exist and whether brand equity implies charging high prices. It evaluates the use of standard metrics for measuring brand equity (e.g., Tobin's q-ratio and the multiplier method). Following this, it proposes an integrated marketing-finance fusion method for measuring brand equity that combines behavioral and financial data and allows for competitive effects at different levels in the supply chain and for differential market growth rates.Less
This chapter discusses the conditions under which brand equity can exist and whether brand equity implies charging high prices. It evaluates the use of standard metrics for measuring brand equity (e.g., Tobin's q-ratio and the multiplier method). Following this, it proposes an integrated marketing-finance fusion method for measuring brand equity that combines behavioral and financial data and allows for competitive effects at different levels in the supply chain and for differential market growth rates.
Judy B. Rosener
- Published in print:
- 1998
- Published Online:
- October 2011
- ISBN:
- 9780195119145
- eISBN:
- 9780199854882
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195119145.001.0001
- Subject:
- Business and Management, Strategy
The United States has a large number of well-educated, experienced professional women ready, willing, and able to move into the boardrooms and executive suites of corporate America. They represent a ...
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The United States has a large number of well-educated, experienced professional women ready, willing, and able to move into the boardrooms and executive suites of corporate America. They represent a great, untapped economic resource and this book argues that this is America’s competitive secret. Drawing on in-depth interviews with top executives and middle managers, and the latest research on working women and organizational change, the author describes the unique contribution of female professionals. Her profiles of top women managers reveal that they cope well with ambiguity, are comfortable sharing power, and tend to empower others' leadership traits that lead to increased employee productivity, innovation, and profits. The book offers evidence that the changes that help organizations more fully utilize the talents of women are the same changes that will give them an important edge in today’s global workplace. The author explains why the glass ceiling still prevents many competent women from reaching the upper echelons of management. She analyses why women and men are perceived and evaluated differently at work, and provides new insight into the feelings of men who are asked to interact with women in new roles when there are few new rules. The book shows that removing the glass ceiling can no longer be viewed solely in terms of social equity—it is now an economic imperative.Less
The United States has a large number of well-educated, experienced professional women ready, willing, and able to move into the boardrooms and executive suites of corporate America. They represent a great, untapped economic resource and this book argues that this is America’s competitive secret. Drawing on in-depth interviews with top executives and middle managers, and the latest research on working women and organizational change, the author describes the unique contribution of female professionals. Her profiles of top women managers reveal that they cope well with ambiguity, are comfortable sharing power, and tend to empower others' leadership traits that lead to increased employee productivity, innovation, and profits. The book offers evidence that the changes that help organizations more fully utilize the talents of women are the same changes that will give them an important edge in today’s global workplace. The author explains why the glass ceiling still prevents many competent women from reaching the upper echelons of management. She analyses why women and men are perceived and evaluated differently at work, and provides new insight into the feelings of men who are asked to interact with women in new roles when there are few new rules. The book shows that removing the glass ceiling can no longer be viewed solely in terms of social equity—it is now an economic imperative.
Liam Murphy and Thomas Nagel
- Published in print:
- 2002
- Published Online:
- November 2003
- ISBN:
- 9780195150162
- eISBN:
- 9780199833924
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195150163.003.0002
- Subject:
- Political Science, Political Theory
Traditional analyses of tax justice demand that the distribution of tax burdens satisfy criteria of vertical and horizontal equity–like cases should be treated alike and relevantly different cases ...
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Traditional analyses of tax justice demand that the distribution of tax burdens satisfy criteria of vertical and horizontal equity–like cases should be treated alike and relevantly different cases should be treated differently. Various criteria for relevant differences have been proposed, drawing on ideas such as ability to pay and taxation in proportion to benefit. All these analyses suffer from the fundamental flaw of treating pretax income as a morally significant baseline. This mistake can partly be traced to a prevailing “everyday libertarianism” according to which our legal property rights simply protect what we are independently morally entitled to; this view is incoherent.Less
Traditional analyses of tax justice demand that the distribution of tax burdens satisfy criteria of vertical and horizontal equity–like cases should be treated alike and relevantly different cases should be treated differently. Various criteria for relevant differences have been proposed, drawing on ideas such as ability to pay and taxation in proportion to benefit. All these analyses suffer from the fundamental flaw of treating pretax income as a morally significant baseline. This mistake can partly be traced to a prevailing “everyday libertarianism” according to which our legal property rights simply protect what we are independently morally entitled to; this view is incoherent.
Roger M. Barker
- Published in print:
- 2010
- Published Online:
- May 2010
- ISBN:
- 9780199576814
- eISBN:
- 9780191722509
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199576814.003.00011
- Subject:
- Business and Management, International Business, Corporate Governance and Accountability
The empirical evidence examined in this book is highly supportive of the idea that economic rents play a key role in determining the degree of association between partisanship and corporate ...
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The empirical evidence examined in this book is highly supportive of the idea that economic rents play a key role in determining the degree of association between partisanship and corporate governance change in nonliberal market economies. Economic rents are the key factor that mould the preferences of political parties vis‐à‐vis corporate governance policy, and determine the ability of such policy to translate into changes in firm‐level corporate governance outcomes.Less
The empirical evidence examined in this book is highly supportive of the idea that economic rents play a key role in determining the degree of association between partisanship and corporate governance change in nonliberal market economies. Economic rents are the key factor that mould the preferences of political parties vis‐à‐vis corporate governance policy, and determine the ability of such policy to translate into changes in firm‐level corporate governance outcomes.
Sharan Jagpal and Shireen Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.001.0001
- Subject:
- Business and Management, Marketing
This book shows how to fuse marketing, finance, and other disciplines to improve performance for the corporation or organization. Specifically, it shows decision makers at different levels in the ...
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This book shows how to fuse marketing, finance, and other disciplines to improve performance for the corporation or organization. Specifically, it shows decision makers at different levels in the organization and in different functional areas (e.g., marketing, finance, new product development, and human resources management) how to overcome the problems resulting from function- and discipline-based “silos.” The book has several novel features. All concepts are presented in a simple and easily accessible question-and-answer format. The book provides an in-depth analysis of a broad spectrum of important managerial topics (e.g., how to allocate advertising funds between Internet and conventional advertising, how to evaluate brand equity for mergers and acquisitions, and how to coordinate product design, marketing strategy, and production). In addition, because of its fusion-based methodology, the book provides decision makers with new tools to address familiar managerial problems (e.g., resource allocation and the design of managerial contracts in multiproduct or multidivisional firms). Throughout the book, the focus is on providing managers with actionable theories and metrics that are rigorous yet practical, and that allow the firm or organization to fuse — not merely interface — different functional areas.Less
This book shows how to fuse marketing, finance, and other disciplines to improve performance for the corporation or organization. Specifically, it shows decision makers at different levels in the organization and in different functional areas (e.g., marketing, finance, new product development, and human resources management) how to overcome the problems resulting from function- and discipline-based “silos.” The book has several novel features. All concepts are presented in a simple and easily accessible question-and-answer format. The book provides an in-depth analysis of a broad spectrum of important managerial topics (e.g., how to allocate advertising funds between Internet and conventional advertising, how to evaluate brand equity for mergers and acquisitions, and how to coordinate product design, marketing strategy, and production). In addition, because of its fusion-based methodology, the book provides decision makers with new tools to address familiar managerial problems (e.g., resource allocation and the design of managerial contracts in multiproduct or multidivisional firms). Throughout the book, the focus is on providing managers with actionable theories and metrics that are rigorous yet practical, and that allow the firm or organization to fuse — not merely interface — different functional areas.
Joseph Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199288144
- eISBN:
- 9780191603884
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199288143.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors ...
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This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors share the belief that the Washington consensus has advocated for narrow goals for development (with a focus on price stability), prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Economists have traditionally divided their field into macroeconomics and microeconomics, with macroeconomics further divided into stabilization policy and growth. Since most policy discussions and much of the assignment of institutional responsibilities have followed these divisions, policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenges these divisions by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The second part examines the central issues of macroeconomics, presenting an analysis of economic models and policy perspectives on stabilization from conservative, Keynesian, and heterodox perspectives. The third part presents a similar analysis for capital market liberalization (CML).Less
This book discusses the current debates on macroeconomics, capital market liberalization, and development, and develops a new framework within which one can assess alternative policies. The authors share the belief that the Washington consensus has advocated for narrow goals for development (with a focus on price stability), prescribed too few policy instruments (emphasizing monetary and fiscal policies), and places unwarranted faith in the role of markets. The new framework focuses on real stability and long-term sustainable and equitable growth, offers a variety of non-standard ways to stabilize the economy and promote growth, and accepts that market imperfections necessitate government interventions. Economists have traditionally divided their field into macroeconomics and microeconomics, with macroeconomics further divided into stabilization policy and growth. Since most policy discussions and much of the assignment of institutional responsibilities have followed these divisions, policy-makers have pursued stabilization goals with little concern for growth consequences, while trying to increase growth through structural reforms focused on improving economic efficiency. Moreover, structural policies, such as capital market liberalization, have had major consequences for economic stability. This book challenges these divisions by arguing that stabilization policy has important consequences for long-term growth and has often been implemented with adverse consequences. The first part of the book introduces the key questions and looks at the objectives of economic policy from different perspectives. The second part examines the central issues of macroeconomics, presenting an analysis of economic models and policy perspectives on stabilization from conservative, Keynesian, and heterodox perspectives. The third part presents a similar analysis for capital market liberalization (CML).
Roderick Martin, Peter D. Casson, and Tahir M. Nisar
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199202607
- eISBN:
- 9780191707896
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199202607.003.0005
- Subject:
- Business and Management, Finance, Accounting, and Banking
Private equity funds contribute heavily to the performance of the firms in which they invest beyond the provision of capital. Through detailed examination of seven case studies of private equity ...
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Private equity funds contribute heavily to the performance of the firms in which they invest beyond the provision of capital. Through detailed examination of seven case studies of private equity funds and portfolio companies, this chapter shows how private equity funds provide ‘commercial savvy’ and international connections to the companies in which they invest, as well as sector-specific knowledge. The funds may involve themselves in areas traditionally considered as matters of concern to investors, such as corporate strategy, and in matters normally considered the province of managers, such as innovation and employee skill development.Less
Private equity funds contribute heavily to the performance of the firms in which they invest beyond the provision of capital. Through detailed examination of seven case studies of private equity funds and portfolio companies, this chapter shows how private equity funds provide ‘commercial savvy’ and international connections to the companies in which they invest, as well as sector-specific knowledge. The funds may involve themselves in areas traditionally considered as matters of concern to investors, such as corporate strategy, and in matters normally considered the province of managers, such as innovation and employee skill development.
David Schlosberg
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199286294
- eISBN:
- 9780191713323
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199286294.003.0003
- Subject:
- Political Science, Environmental Politics
This chapter examines the definitions of justice by both academics of, and groups within, the environmental justice movement in the US. After a brief description of the types of groups and ...
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This chapter examines the definitions of justice by both academics of, and groups within, the environmental justice movement in the US. After a brief description of the types of groups and organizations that make up the environmental justice movement in the US, the chapter goes into detail describing equity-based, recognition-focused, procedural, and capability-oriented frames of justice from both the movement itself and the literature about it.Less
This chapter examines the definitions of justice by both academics of, and groups within, the environmental justice movement in the US. After a brief description of the types of groups and organizations that make up the environmental justice movement in the US, the chapter goes into detail describing equity-based, recognition-focused, procedural, and capability-oriented frames of justice from both the movement itself and the literature about it.
David Schlosberg
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199286294
- eISBN:
- 9780191713323
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199286294.003.0004
- Subject:
- Political Science, Environmental Politics
This chapter examines the use of the concept of environmental justice in various global movements, including the anti-globalization, food security, indigenous rights, and climate justice movements. ...
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This chapter examines the use of the concept of environmental justice in various global movements, including the anti-globalization, food security, indigenous rights, and climate justice movements. In each of these movements' use of the discourse of environmental justice, there are elements of equity and distribution, individual and cultural recognition, political participation, and individual and community functioning.Less
This chapter examines the use of the concept of environmental justice in various global movements, including the anti-globalization, food security, indigenous rights, and climate justice movements. In each of these movements' use of the discourse of environmental justice, there are elements of equity and distribution, individual and cultural recognition, political participation, and individual and community functioning.
Joseph E. Stiglitz, José Antonio Ocampo, Shari Spiegel, Ricardo Ffrench-Davis, and Deepak Nayyar
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780199288144
- eISBN:
- 9780191603884
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199288143.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter begins with the idea that at the most general level, the goal of economic policy is to maximize long-term societal well-being in an equitable and sustainable manner. It addresses in ...
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This chapter begins with the idea that at the most general level, the goal of economic policy is to maximize long-term societal well-being in an equitable and sustainable manner. It addresses in detail the meaning and relevance of the goals of economic policy that are often put forward — from enhancing economic security and reducing unemployment, to reducing inflation, enhancing growth, and maintaining external balance. It also examines the link between stability and growth, and between short-term growth and sustainable growth. More specifically, the chapter critiques the narrow focus of the Washington consensus on price stability and emphasizes that economists should, instead, focus on long-term sustainable growth. The chapter concludes by highlighting the broader social consequences that choosing alternative economic policies may have and by emphasizing that all economic policies have trade-offs.Less
This chapter begins with the idea that at the most general level, the goal of economic policy is to maximize long-term societal well-being in an equitable and sustainable manner. It addresses in detail the meaning and relevance of the goals of economic policy that are often put forward — from enhancing economic security and reducing unemployment, to reducing inflation, enhancing growth, and maintaining external balance. It also examines the link between stability and growth, and between short-term growth and sustainable growth. More specifically, the chapter critiques the narrow focus of the Washington consensus on price stability and emphasizes that economists should, instead, focus on long-term sustainable growth. The chapter concludes by highlighting the broader social consequences that choosing alternative economic policies may have and by emphasizing that all economic policies have trade-offs.
Martin Ravallion
- Published in print:
- 2006
- Published Online:
- September 2006
- ISBN:
- 9780195305197
- eISBN:
- 9780199783519
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195305191.003.0014
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This essay examines the role of targeted transfers in poor countries in the light of the new theories on the social costs of unmitigated inequalities and uninsured risks. Recognizing that the policy ...
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This essay examines the role of targeted transfers in poor countries in the light of the new theories on the social costs of unmitigated inequalities and uninsured risks. Recognizing that the policy implications depend crucially on whether there is good empirical evidence to support the theoretical arguments, the bulk of the first half of the essay discusses the evidence. The essay then takes up a key question for policy: Can the potential for efficient redistribution be realized in practice using targeted transfers, given the constraints faced in poor countries? It is argued that there can be too much uninsured risk and inequality, when judged solely from the viewpoint of aggregate output. For example, credit market failures can mean that it is the poor who are unable to exploit new economic opportunities; the more poor people, the fewer the opportunities that get exploited, and thus the lower the rate of growth. Persistent concentrations of poverty in poor environments can also arise from market failures, given geographic externalities whereby living in a poor area is a cause of poverty. This body of theory and evidence offers a new perspective on social protection policies in poor countries, suggesting that there is scope for using these policies to compensate for the market failures that help perpetuate poverty, particularly in high-inequality settings.Less
This essay examines the role of targeted transfers in poor countries in the light of the new theories on the social costs of unmitigated inequalities and uninsured risks. Recognizing that the policy implications depend crucially on whether there is good empirical evidence to support the theoretical arguments, the bulk of the first half of the essay discusses the evidence. The essay then takes up a key question for policy: Can the potential for efficient redistribution be realized in practice using targeted transfers, given the constraints faced in poor countries? It is argued that there can be too much uninsured risk and inequality, when judged solely from the viewpoint of aggregate output. For example, credit market failures can mean that it is the poor who are unable to exploit new economic opportunities; the more poor people, the fewer the opportunities that get exploited, and thus the lower the rate of growth. Persistent concentrations of poverty in poor environments can also arise from market failures, given geographic externalities whereby living in a poor area is a cause of poverty. This body of theory and evidence offers a new perspective on social protection policies in poor countries, suggesting that there is scope for using these policies to compensate for the market failures that help perpetuate poverty, particularly in high-inequality settings.
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/9780195371055.003.0012
- Subject:
- Business and Management, Marketing
This chapter shows how the firm should coordinate its advertising message, branding, and product positioning strategies. It distinguishs between the short and long runs, single-product and ...
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This chapter shows how the firm should coordinate its advertising message, branding, and product positioning strategies. It distinguishs between the short and long runs, single-product and multiproduct firms, established and new products, durable and nondurable products, and whether the firm is a market leader or not.Less
This chapter shows how the firm should coordinate its advertising message, branding, and product positioning strategies. It distinguishs between the short and long runs, single-product and multiproduct firms, established and new products, durable and nondurable products, and whether the firm is a market leader or not.
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/9780195371055.003.0022
- Subject:
- Business and Management, Marketing
This chapter shows how the firm can use marketing-finance fusion to evaluate mergers and acquisition strategies. It examines the potential gains from mergers, the history of mergers and acquisitions, ...
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This chapter shows how the firm can use marketing-finance fusion to evaluate mergers and acquisition strategies. It examines the potential gains from mergers, the history of mergers and acquisitions, the effect of private equity firms and hedge funds on merger activity and merger performance, and the special problems posed by international mergers. In particular, it shows how buying and selling firms can objectively value brands by combining game theory and data from choice-based experiments.Less
This chapter shows how the firm can use marketing-finance fusion to evaluate mergers and acquisition strategies. It examines the potential gains from mergers, the history of mergers and acquisitions, the effect of private equity firms and hedge funds on merger activity and merger performance, and the special problems posed by international mergers. In particular, it shows how buying and selling firms can objectively value brands by combining game theory and data from choice-based experiments.
Todd Sinai and Nicholas Souleles
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199549108
- eISBN:
- 9780191720734
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199549108.003.0004
- Subject:
- Business and Management, Pensions and Pension Management
This chapter documents the trends in the life-cycle profiles of net worth and housing equity of older persons. During the 1993-2004 period, older households' net worth rose significantly, yet net ...
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This chapter documents the trends in the life-cycle profiles of net worth and housing equity of older persons. During the 1993-2004 period, older households' net worth rose significantly, yet net worth grew by more than housing equity, in part because other assets also appreciated at the same time. Moreover, the younger elderly offset rising house prices by increasing their housing debt and used some of the proceeds to invest in other assets. The chapter considers how much of their housing equity older households could actually tap using reverse mortgages. It shows that this fraction is lower at younger ages, such that young retirees can consume less than half of their housing equity. Their results imply that consumable net worth is smaller than standard calculations of net worth.Less
This chapter documents the trends in the life-cycle profiles of net worth and housing equity of older persons. During the 1993-2004 period, older households' net worth rose significantly, yet net worth grew by more than housing equity, in part because other assets also appreciated at the same time. Moreover, the younger elderly offset rising house prices by increasing their housing debt and used some of the proceeds to invest in other assets. The chapter considers how much of their housing equity older households could actually tap using reverse mortgages. It shows that this fraction is lower at younger ages, such that young retirees can consume less than half of their housing equity. Their results imply that consumable net worth is smaller than standard calculations of net worth.
