Peter Buckley and Mark Casson
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199241828
- eISBN:
- 9780191596834
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199241821.003.0004
- Subject:
- Economics and Finance, International
It is suggested that although there have been significant theoretical achievements in international business over the past forty years, the current prospects are not so good. This chapter makes ...
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It is suggested that although there have been significant theoretical achievements in international business over the past forty years, the current prospects are not so good. This chapter makes suggestions on how the subject may develop. It begins with a critique of recent calls for the use of ‘softer’ theories, and considers whether the increasing complexity of the international business environment makes formal modelling impossible; it concludes that it does not, and that much of the apparent complexity is subjective.Two main sources of complexity are identified—uncertainty in long‐term planning, and networks (physical and social). Rational action techniques that can be used to analyse strategic complexity under uncertainty, and networks, are described, and examples of their use presented. It is suggested that the most productive theoretical developments in international business are likely to be based on this approach.Less
It is suggested that although there have been significant theoretical achievements in international business over the past forty years, the current prospects are not so good. This chapter makes suggestions on how the subject may develop. It begins with a critique of recent calls for the use of ‘softer’ theories, and considers whether the increasing complexity of the international business environment makes formal modelling impossible; it concludes that it does not, and that much of the apparent complexity is subjective.
Two main sources of complexity are identified—uncertainty in long‐term planning, and networks (physical and social). Rational action techniques that can be used to analyse strategic complexity under uncertainty, and networks, are described, and examples of their use presented. It is suggested that the most productive theoretical developments in international business are likely to be based on this approach.
Tommaso Padoa‐Schioppa
- Published in print:
- 2000
- Published Online:
- November 2003
- ISBN:
- 9780199241767
- eISBN:
- 9780191596742
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199241767.003.0007
- Subject:
- Economics and Finance, Macro- and Monetary Economics
The long‐term prospects of the European Monetary System (EMS) are examined from a non‐technical viewpoint, considering the system as a variable rather than a given. The prospects are seen as ...
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The long‐term prospects of the European Monetary System (EMS) are examined from a non‐technical viewpoint, considering the system as a variable rather than a given. The prospects are seen as comprising three phases. The first phase, which has now concluded, is consolidation. The second phase is the current phase, and is the period in which the ‘inconsistent quartet’ emerges. This involves seeking to achieve the impossible task of reconciling free trade, full capital mobility, fixed (or managed) exchange rates, and national autonomy in the conduct of monetary policy. The third phase is starting to foresee European Monetary Union (EMU); in this phase full implementation of free trade and capital mobility will occur.Less
The long‐term prospects of the European Monetary System (EMS) are examined from a non‐technical viewpoint, considering the system as a variable rather than a given. The prospects are seen as comprising three phases. The first phase, which has now concluded, is consolidation. The second phase is the current phase, and is the period in which the ‘inconsistent quartet’ emerges. This involves seeking to achieve the impossible task of reconciling free trade, full capital mobility, fixed (or managed) exchange rates, and national autonomy in the conduct of monetary policy. The third phase is starting to foresee European Monetary Union (EMU); in this phase full implementation of free trade and capital mobility will occur.
R. W. Davies
- Published in print:
- 2008
- Published Online:
- October 2013
- ISBN:
- 9780300125245
- eISBN:
- 9780300151701
- Item type:
- chapter
- Publisher:
- Yale University Press
- DOI:
- 10.12987/yale/9780300125245.003.0005
- Subject:
- History, European Modern History
This chapter, which examines the conduct of planning for wartime economic mobilization in the Soviet Union in the 1930s, suggests that the attention devoted to mobilization planning during this ...
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This chapter, which examines the conduct of planning for wartime economic mobilization in the Soviet Union in the 1930s, suggests that the attention devoted to mobilization planning during this period followed a U-shaped curve, being greater in the first and last years of the decade. It explains the grandiose talks about long-term planning in the early 1930s, the distraction of authorities from forward-looking mobilization tasks during the mid-1930s due to the increasing complexities of planning current defense production, and the reorganization of mobilization planning in the run-up to the World War 2.Less
This chapter, which examines the conduct of planning for wartime economic mobilization in the Soviet Union in the 1930s, suggests that the attention devoted to mobilization planning during this period followed a U-shaped curve, being greater in the first and last years of the decade. It explains the grandiose talks about long-term planning in the early 1930s, the distraction of authorities from forward-looking mobilization tasks during the mid-1930s due to the increasing complexities of planning current defense production, and the reorganization of mobilization planning in the run-up to the World War 2.
William Ascher
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226029160
- eISBN:
- 9780226029184
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226029184.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Humans are plagued by shortsighted thinking, preferring to put off work on complex, deep-seated, or difficult problems in favor of quick-fix solutions to immediate needs. When short-term thinking is ...
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Humans are plagued by shortsighted thinking, preferring to put off work on complex, deep-seated, or difficult problems in favor of quick-fix solutions to immediate needs. When short-term thinking is applied to economic development, especially in fragile nations, the results—corruption, waste, and faulty planning—are often disastrous. This book draws on the latest research from psychology, economics, institutional design, and legal theory to suggest strategies to overcome powerful obstacles to long-term planning in developing countries. Drawing on cases from Africa, Asia, and Latin America, the book applies strategies such as the creation and scheduling of tangible and intangible rewards, cognitive exercises to increase the understanding of longer-term consequences, self-restraint mechanisms to protect long-term commitments and enhance credibility, and restructuring policy-making processes to permit greater influence of long-term considerations. The book features theoretically informed research findings and policy examples, and shows how the vagaries of human behavior affect international development.Less
Humans are plagued by shortsighted thinking, preferring to put off work on complex, deep-seated, or difficult problems in favor of quick-fix solutions to immediate needs. When short-term thinking is applied to economic development, especially in fragile nations, the results—corruption, waste, and faulty planning—are often disastrous. This book draws on the latest research from psychology, economics, institutional design, and legal theory to suggest strategies to overcome powerful obstacles to long-term planning in developing countries. Drawing on cases from Africa, Asia, and Latin America, the book applies strategies such as the creation and scheduling of tangible and intangible rewards, cognitive exercises to increase the understanding of longer-term consequences, self-restraint mechanisms to protect long-term commitments and enhance credibility, and restructuring policy-making processes to permit greater influence of long-term considerations. The book features theoretically informed research findings and policy examples, and shows how the vagaries of human behavior affect international development.
