Leslie P Francis, Margaret P Battin, Jay A Jacobson, and Charles B Smith
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199545520
- eISBN:
- 9780191721113
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso:acprof/9780199545520.003.0023
- Subject:
- Law, Medical Law
This chapter explores the issue of justice in resource allocation in pandemic planning. Topics discussed include the allocation of vaccines and antivirals, the allocation of treatment for the ...
More
This chapter explores the issue of justice in resource allocation in pandemic planning. Topics discussed include the allocation of vaccines and antivirals, the allocation of treatment for the seriously ill, and global health security.Less
This chapter explores the issue of justice in resource allocation in pandemic planning. Topics discussed include the allocation of vaccines and antivirals, the allocation of treatment for the seriously ill, and global health security.
Mary O'Sullivan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244867
- eISBN:
- 9780191596735
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244863.003.0002
- Subject:
- Economics and Finance, Microeconomics
Given the centrality of the process of innovation to the performance of dynamic economies, the types of corporate governance that will promote economic performance can be determined only within a ...
More
Given the centrality of the process of innovation to the performance of dynamic economies, the types of corporate governance that will promote economic performance can be determined only within a conceptual framework that integrates an analysis of the economics of innovation. In Sect. 1.2, theoretical and empirical research on the economics of innovation is reviewed in order to identify the key stylized facts of the process through which resources are developed and utilized in the economy; innovation is specifically characterized as a process that is cumulative, collective, and uncertain. In Sect. 1.3, it is argued that these characteristics imply that innovation requires an allocation process that is (1) developmental––resources must be committed to irreversible investments with uncertain returns, (2) organizational––returns are generated through the integration of human and physical resources, and (3) strategic––resources are allocated to overcome market and technological conditions that other firms take as given. In Sect. 1.4, the critical characteristics of innovative resource allocation are contrasted with neoclassical resource allocation, which is reversible, individual, and optimal. Section 1.5 discusses the relationships between resource allocation and corporate governance, emphasizing that in spite of continuing attempts by heterodox economists to introduce one or more of the characteristics of resource allocation discussed in Sect. 1.4 to a theory of economic performance (in particular, developmental, organizational, and strategic characteristics), it is only by taking all of these characteristics together that the profound implications they have for the governance of corporations can be seen, implying the need for organizational control over the allocation of resources in the economy.Less
Given the centrality of the process of innovation to the performance of dynamic economies, the types of corporate governance that will promote economic performance can be determined only within a conceptual framework that integrates an analysis of the economics of innovation. In Sect. 1.2, theoretical and empirical research on the economics of innovation is reviewed in order to identify the key stylized facts of the process through which resources are developed and utilized in the economy; innovation is specifically characterized as a process that is cumulative, collective, and uncertain. In Sect. 1.3, it is argued that these characteristics imply that innovation requires an allocation process that is (1) developmental––resources must be committed to irreversible investments with uncertain returns, (2) organizational––returns are generated through the integration of human and physical resources, and (3) strategic––resources are allocated to overcome market and technological conditions that other firms take as given. In Sect. 1.4, the critical characteristics of innovative resource allocation are contrasted with neoclassical resource allocation, which is reversible, individual, and optimal. Section 1.5 discusses the relationships between resource allocation and corporate governance, emphasizing that in spite of continuing attempts by heterodox economists to introduce one or more of the characteristics of resource allocation discussed in Sect. 1.4 to a theory of economic performance (in particular, developmental, organizational, and strategic characteristics), it is only by taking all of these characteristics together that the profound implications they have for the governance of corporations can be seen, implying the need for organizational control over the allocation of resources in the economy.
Tony D. Williams
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691139821
- eISBN:
- 9781400842797
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691139821.003.0007
- Subject:
- Biology, Ornithology
This chapter first reviews the evidence for interactions between life-history stages, centering this around reproduction itself: the intention is to put reproduction in the context of the complete ...
More
This chapter first reviews the evidence for interactions between life-history stages, centering this around reproduction itself: the intention is to put reproduction in the context of the complete life-cycle. It considers how the wintering and pre-breeding period, including spring migration, can influence reproductive decisions, and in turn how reproductive decisions can influence subsequent post-breeding life stages such as molt, fall migration, and over-winter survival. It looks at the costs of reproduction, simply as a more specific example of general carry-over effects, especially from a mechanistic point of view, with potentially common underlying mechanisms. The chapter argues that short-term energy or nutrient “debts” and resource-allocation trade-offs provide unsatisfactory models for long-term carry-over effects or costs of reproduction; instead, it emphasizes potential “non-resource based” mechanisms.Less
This chapter first reviews the evidence for interactions between life-history stages, centering this around reproduction itself: the intention is to put reproduction in the context of the complete life-cycle. It considers how the wintering and pre-breeding period, including spring migration, can influence reproductive decisions, and in turn how reproductive decisions can influence subsequent post-breeding life stages such as molt, fall migration, and over-winter survival. It looks at the costs of reproduction, simply as a more specific example of general carry-over effects, especially from a mechanistic point of view, with potentially common underlying mechanisms. The chapter argues that short-term energy or nutrient “debts” and resource-allocation trade-offs provide unsatisfactory models for long-term carry-over effects or costs of reproduction; instead, it emphasizes potential “non-resource based” mechanisms.
Elizabeth Wicks
- Published in print:
- 2010
- Published Online:
- September 2010
- ISBN:
- 9780199547395
- eISBN:
- 9780191594373
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199547395.001.0001
- Subject:
- Law, Human Rights and Immigration, Medical Law
The right to life is a core human right which has not yet received the detailed legal analysis that it requires. This book provides detailed, critical analysis of the controversial human right to ...
More
The right to life is a core human right which has not yet received the detailed legal analysis that it requires. This book provides detailed, critical analysis of the controversial human right to life and, in particular, assesses the weight of conflicting interests which could and/or should serve to override the right. This contemporary study of the right to life focuses on the legal, as well as ethical, issues raised by the value of life in modern day society. It seeks to analyse the development, meaning and value of the fundamental human right to life in the context of its conflicts with other competing interests. The book begins with an overview of the right to life in which the concept of life itself is first analysed, before both the right and its legal protection and enforcement are subjected to historical, philosophical and comparative analysis. The remainder of the book identifies, and assesses the merits of, various competing interests. These comprise armed conflict; prevention of crime; rights of others; autonomy; quality of life; and finite resources. The right to life is unusual in having potential application to so many of today’s ethically controversial questions. This new work investigates specific topics of current political, legal and ethical concern such as the right to life during international conflicts, the role of lethal force in law enforcement, the death penalty, the right to life of a foetus in the context of legalized abortion, and the significance of quality of life and autonomy issues in respect of euthanasia and assisted suicide.Less
The right to life is a core human right which has not yet received the detailed legal analysis that it requires. This book provides detailed, critical analysis of the controversial human right to life and, in particular, assesses the weight of conflicting interests which could and/or should serve to override the right. This contemporary study of the right to life focuses on the legal, as well as ethical, issues raised by the value of life in modern day society. It seeks to analyse the development, meaning and value of the fundamental human right to life in the context of its conflicts with other competing interests. The book begins with an overview of the right to life in which the concept of life itself is first analysed, before both the right and its legal protection and enforcement are subjected to historical, philosophical and comparative analysis. The remainder of the book identifies, and assesses the merits of, various competing interests. These comprise armed conflict; prevention of crime; rights of others; autonomy; quality of life; and finite resources. The right to life is unusual in having potential application to so many of today’s ethically controversial questions. This new work investigates specific topics of current political, legal and ethical concern such as the right to life during international conflicts, the role of lethal force in law enforcement, the death penalty, the right to life of a foetus in the context of legalized abortion, and the significance of quality of life and autonomy issues in respect of euthanasia and assisted suicide.
Martine Quinzii
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780195065534
- eISBN:
- 9780199855063
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195065534.001.0001
- Subject:
- Economics and Finance, Financial Economics
Increasing returns to scale is an area in economics that is becoming more important in the literature. The economic phenomenon of increasing returns presents serious conceptual difficulties for the ...
More
Increasing returns to scale is an area in economics that is becoming more important in the literature. The economic phenomenon of increasing returns presents serious conceptual difficulties for the traditional competitive theory of resource allocation. While most firms exhibit constant or decreasing returns to scale, some firms manufacture products whose technology permits increasing returns to scale that are large relative to the market. These goods are an important component of economic activity in a modern economy and are typically commodities produced either by a public sector or, as in the United States, by regulated utilities. This book analyzes increasing returns using general equilibrium theory to take into account the interactions between production in the public and the private sectors, and the effects of financing the public sector on the redistribution of income.Less
Increasing returns to scale is an area in economics that is becoming more important in the literature. The economic phenomenon of increasing returns presents serious conceptual difficulties for the traditional competitive theory of resource allocation. While most firms exhibit constant or decreasing returns to scale, some firms manufacture products whose technology permits increasing returns to scale that are large relative to the market. These goods are an important component of economic activity in a modern economy and are typically commodities produced either by a public sector or, as in the United States, by regulated utilities. This book analyzes increasing returns using general equilibrium theory to take into account the interactions between production in the public and the private sectors, and the effects of financing the public sector on the redistribution of income.
Mary O'Sullivan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244867
- eISBN:
- 9780191596735
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244863.001.0001
- Subject:
- Economics and Finance, Microeconomics
This book is based on detailed historical research in the USA and Germany, and represents a challenge to current orthodoxy on corporate governance. It is a challenging and informed examination of the ...
More
This book is based on detailed historical research in the USA and Germany, and represents a challenge to current orthodoxy on corporate governance. It is a challenging and informed examination of the links between the general business environment and the operations, decisions, and organizations of firms. The author also explores the links between corporate governance and innovation. The eight chapters are: Innovation, resource allocation, and governance; Transforming the debates on corporate governance; The foundations of managerial control in the USA; The post‐war evolution of managerial control in the United States; Challenges to post‐war managerial control in the USA; US corporate responses to new challenges; From managerial to contested control in Germany; and The emerging challenges to organizational control in Germany.Less
This book is based on detailed historical research in the USA and Germany, and represents a challenge to current orthodoxy on corporate governance. It is a challenging and informed examination of the links between the general business environment and the operations, decisions, and organizations of firms. The author also explores the links between corporate governance and innovation. The eight chapters are: Innovation, resource allocation, and governance; Transforming the debates on corporate governance; The foundations of managerial control in the USA; The post‐war evolution of managerial control in the United States; Challenges to post‐war managerial control in the USA; US corporate responses to new challenges; From managerial to contested control in Germany; and The emerging challenges to organizational control in Germany.
Lawrence J. Lau
- Published in print:
- 1998
- Published Online:
- January 2007
- ISBN:
- 9780198294917
- eISBN:
- 9780191715501
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198294917.003.0002
- Subject:
- Economics and Finance, South and East Asia
This chapter examines the policies adopted and implemented by the governments of China, Hong Kong, and Taiwan in the process of their economic development. It presents a comprehensive list of policy ...
More
This chapter examines the policies adopted and implemented by the governments of China, Hong Kong, and Taiwan in the process of their economic development. It presents a comprehensive list of policy instruments the governments used in mobilizing resource inputs, allocating them more efficiently, and shifting the production frontier outwards. The issues involved in the use of each instrument are illustrated with rich facts from the greater Chinese economic zone.Less
This chapter examines the policies adopted and implemented by the governments of China, Hong Kong, and Taiwan in the process of their economic development. It presents a comprehensive list of policy instruments the governments used in mobilizing resource inputs, allocating them more efficiently, and shifting the production frontier outwards. The issues involved in the use of each instrument are illustrated with rich facts from the greater Chinese economic zone.
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/9780195371055.003.0005
- Subject:
- Business and Management, Marketing
This chapter examines the conditions under which the multiproduct firm should use market share as a metric for resource allocation. It distinguishes short- and long-run effects, analyze the effects ...
More
This chapter examines the conditions under which the multiproduct firm should use market share as a metric for resource allocation. It distinguishes short- and long-run effects, analyze the effects of competition, and show how the discount rate affects the firm's revenue- and volume-based market shares. In particular, it shows how the firm can use marketing-finance fusion to choose the optimal performance metrics for managers so that they focus on maximizing long-run performance.Less
This chapter examines the conditions under which the multiproduct firm should use market share as a metric for resource allocation. It distinguishes short- and long-run effects, analyze the effects of competition, and show how the discount rate affects the firm's revenue- and volume-based market shares. In particular, it shows how the firm can use marketing-finance fusion to choose the optimal performance metrics for managers so that they focus on maximizing long-run performance.
Martine Quinzii
- Published in print:
- 1993
- Published Online:
- October 2011
- ISBN:
- 9780195065534
- eISBN:
- 9780199855063
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195065534.003.0006
- Subject:
- Economics and Finance, Financial Economics
This chapter examines resource allocation in an economy with increasing returns based on the concept of the core. Application of the core to the study of resource allocation with increasing returns ...
More
This chapter examines resource allocation in an economy with increasing returns based on the concept of the core. Application of the core to the study of resource allocation with increasing returns was initiated by Herbert Scarf (1963) soon after the close relationship between the competitive equilibria and the core allocations of an exchange economy were first rigorously established. It seemed intuitive that if the possibility of exchange among agents can yield allocations that cannot be improved upon by any subgroup of agents left to its own resources, this property should be all the more true if, in addition to the possibility of exchanging goods, agents have access to a technique of production with increasing returns. On the basis of this intuition, Scarf had hoped to find an interesting way of decentralizing core allocations; however, the conjecture that core allocations exist under the general circumstances just described turned out to be false, or at least not true without restrictive conditions. To understand the concept of a core allocation, this chapter considers cooperative game theory.Less
This chapter examines resource allocation in an economy with increasing returns based on the concept of the core. Application of the core to the study of resource allocation with increasing returns was initiated by Herbert Scarf (1963) soon after the close relationship between the competitive equilibria and the core allocations of an exchange economy were first rigorously established. It seemed intuitive that if the possibility of exchange among agents can yield allocations that cannot be improved upon by any subgroup of agents left to its own resources, this property should be all the more true if, in addition to the possibility of exchanging goods, agents have access to a technique of production with increasing returns. On the basis of this intuition, Scarf had hoped to find an interesting way of decentralizing core allocations; however, the conjecture that core allocations exist under the general circumstances just described turned out to be false, or at least not true without restrictive conditions. To understand the concept of a core allocation, this chapter considers cooperative game theory.
Inge Kaul and Katell Le Goulven
- Published in print:
- 2003
- Published Online:
- November 2003
- ISBN:
- 9780195157406
- eISBN:
- 9780199832965
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195157400.003.0015
- Subject:
- Economics and Finance, Public and Welfare
Explores how policy‐makers have addressed the need for international co‐operation on resource allocation in financing global public goods. It analyses the range of policy tools currently available, ...
More
Explores how policy‐makers have addressed the need for international co‐operation on resource allocation in financing global public goods. It analyses the range of policy tools currently available, and suggests ways in which resource allocation methods could be improved in the future.Less
Explores how policy‐makers have addressed the need for international co‐operation on resource allocation in financing global public goods. It analyses the range of policy tools currently available, and suggests ways in which resource allocation methods could be improved in the future.
Young‐Iob Chung
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780195325454
- eISBN:
- 9780199783908
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195325454.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter evaluates the economic impacts of the government's industrial and financial policies, which provided interest subsidies, wealth, and inflation windfalls to privileged businesses in terms ...
More
This chapter evaluates the economic impacts of the government's industrial and financial policies, which provided interest subsidies, wealth, and inflation windfalls to privileged businesses in terms of production costs, profits, investments, sectoral growth, industrial organization, and savings. The chapter further evaluates the impact of resource allocation on macroeconomic disruptions, sectoral misallocations between privileged and unsupported businesses, manufacturing vs. service industries, heavy and chemical industries vs. light industries, and large vs. small businesses. Economic rent-seeking activities, cronyism and corruption, non-performing loans, financial burdens, the disciplining of financial intermediaries, and financial and corporate reforms in recent years are assessed. The chapter also asks: were the government's industrial and financial policies the optimal measures to achieve the industrialization and the expansion of the nation's economy? Who were the major beneficiaries of the government's industrial and financial policies? Did government control of financial institutions deprive the banks of incentive to improve efficiency? Finally, the chapter lists the future economic and financial challenges facing the country.Less
This chapter evaluates the economic impacts of the government's industrial and financial policies, which provided interest subsidies, wealth, and inflation windfalls to privileged businesses in terms of production costs, profits, investments, sectoral growth, industrial organization, and savings. The chapter further evaluates the impact of resource allocation on macroeconomic disruptions, sectoral misallocations between privileged and unsupported businesses, manufacturing vs. service industries, heavy and chemical industries vs. light industries, and large vs. small businesses. Economic rent-seeking activities, cronyism and corruption, non-performing loans, financial burdens, the disciplining of financial intermediaries, and financial and corporate reforms in recent years are assessed. The chapter also asks: were the government's industrial and financial policies the optimal measures to achieve the industrialization and the expansion of the nation's economy? Who were the major beneficiaries of the government's industrial and financial policies? Did government control of financial institutions deprive the banks of incentive to improve efficiency? Finally, the chapter lists the future economic and financial challenges facing the country.
Elizabeth Wicks
- Published in print:
- 2010
- Published Online:
- September 2010
- ISBN:
- 9780199547395
- eISBN:
- 9780191594373
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199547395.003.0009
- Subject:
- Law, Human Rights and Immigration, Medical Law
This chapter investigates whether the fact that public resources are limited provides an excuse for a failure on the part of the state to intervene to save life. While courts are reluctant to ...
More
This chapter investigates whether the fact that public resources are limited provides an excuse for a failure on the part of the state to intervene to save life. While courts are reluctant to overstep their judicial boundaries by second guessing allocation of resource issues, it is argued that it is possible for the positive obligations inherent in the right to life to be enforced by the courts even when they involve expenditure. The positive obligation upon the state exists regardless of the financial, or other, burdens caused by it, although such burdens will be highly relevant to a determination of what can reasonably be expected of a state. It is proposed that the rule of rescue should be a prioritising principle within the balancing exercise which should be performed when allocating public funds. The application of the ‘accountability for reasonableness’ theory will provide a useful check in this context.Less
This chapter investigates whether the fact that public resources are limited provides an excuse for a failure on the part of the state to intervene to save life. While courts are reluctant to overstep their judicial boundaries by second guessing allocation of resource issues, it is argued that it is possible for the positive obligations inherent in the right to life to be enforced by the courts even when they involve expenditure. The positive obligation upon the state exists regardless of the financial, or other, burdens caused by it, although such burdens will be highly relevant to a determination of what can reasonably be expected of a state. It is proposed that the rule of rescue should be a prioritising principle within the balancing exercise which should be performed when allocating public funds. The application of the ‘accountability for reasonableness’ theory will provide a useful check in this context.
Partha Dasgupta
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198288350
- eISBN:
- 9780191596094
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288352.003.0006
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The main part of this chapter discusses resource allocation mechanisms in seven sections; (1) resources and property rights; (2) markets and market mechanisms; (3) culture and market transactions; ...
More
The main part of this chapter discusses resource allocation mechanisms in seven sections; (1) resources and property rights; (2) markets and market mechanisms; (3) culture and market transactions; (4) externalities: public goods and common property resources; (5) infrastructure and fixed costs; (6) private and public realms, and private and collective (public) goods; and (7) knowledge, organization, and economic growth. An extra and separate section (designated Chapter *6) gives theoretical presentations on two aspects of public goods and common property resources: (1) the theory of public goods; and (2) the problem of the commons.Less
The main part of this chapter discusses resource allocation mechanisms in seven sections; (1) resources and property rights; (2) markets and market mechanisms; (3) culture and market transactions; (4) externalities: public goods and common property resources; (5) infrastructure and fixed costs; (6) private and public realms, and private and collective (public) goods; and (7) knowledge, organization, and economic growth. An extra and separate section (designated Chapter *6) gives theoretical presentations on two aspects of public goods and common property resources: (1) the theory of public goods; and (2) the problem of the commons.
Mary O'Sullivan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244867
- eISBN:
- 9780191596735
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244863.003.0001
- Subject:
- Economics and Finance, Microeconomics
The question of how corporations should be governed to enhance corporate and economic performance has been widely discussed in the last two decades in the USA and the UK, but until recently, the ...
More
The question of how corporations should be governed to enhance corporate and economic performance has been widely discussed in the last two decades in the USA and the UK, but until recently, the subject of corporate governance has attracted much less attention on the European continent, in Asia, and in other parts of the world. By the late 1990s, however, corporate governance had become a major, and highly contentious, issue in all of the advanced economies and, increasingly, in developing countries as well. International organizations, including the OECD, the World Bank, and the IMF have devoted increasing attention to corporate governance as a topic of global concern. The starting point for the analysis of corporate resource allocation and its governance presented in this book is a concern with the dynamics of enterprise and economic performance, and central to the process through which successful enterprises and economies improve their performance over time, as well as relative to each other, is a phenomenon that can broadly be termed ’innovation’; the term is used here in a general sense to include all activities that enterprises and economies undertake to deliver higher‐quality and/or cheaper products, i.e. it has a distinctly commercial connotation, and in particular, is not reducible to technological novelty. The particular focus of the book is a comparison of the historical development of systems of corporate governance in the USA and Germany, and given the pervasive influence of the US system as a model of corporate governance in contemporary academic and policy debates, an especially detailed historical analysis of the evolution and influence of governance institutions in that country has been done; this reveals the value of the organizational control framework for understanding the economics of corporate governance in the USA, and highlights the serious deficiencies of alternative theoretical treatments of the contemporary US system that have often led to what, in historical perspective, are serious misunderstandings of its essential elements.Less
The question of how corporations should be governed to enhance corporate and economic performance has been widely discussed in the last two decades in the USA and the UK, but until recently, the subject of corporate governance has attracted much less attention on the European continent, in Asia, and in other parts of the world. By the late 1990s, however, corporate governance had become a major, and highly contentious, issue in all of the advanced economies and, increasingly, in developing countries as well. International organizations, including the OECD, the World Bank, and the IMF have devoted increasing attention to corporate governance as a topic of global concern. The starting point for the analysis of corporate resource allocation and its governance presented in this book is a concern with the dynamics of enterprise and economic performance, and central to the process through which successful enterprises and economies improve their performance over time, as well as relative to each other, is a phenomenon that can broadly be termed ’innovation’; the term is used here in a general sense to include all activities that enterprises and economies undertake to deliver higher‐quality and/or cheaper products, i.e. it has a distinctly commercial connotation, and in particular, is not reducible to technological novelty. The particular focus of the book is a comparison of the historical development of systems of corporate governance in the USA and Germany, and given the pervasive influence of the US system as a model of corporate governance in contemporary academic and policy debates, an especially detailed historical analysis of the evolution and influence of governance institutions in that country has been done; this reveals the value of the organizational control framework for understanding the economics of corporate governance in the USA, and highlights the serious deficiencies of alternative theoretical treatments of the contemporary US system that have often led to what, in historical perspective, are serious misunderstandings of its essential elements.
Mary O'Sullivan
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199244867
- eISBN:
- 9780191596735
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199244863.003.0004
- Subject:
- Economics and Finance, Microeconomics
In historical perspective, market control over the allocation of US corporate resources stands out as a recent phenomenon, since for most of the twentieth century, salaried managers have exercised ...
More
In historical perspective, market control over the allocation of US corporate resources stands out as a recent phenomenon, since for most of the twentieth century, salaried managers have exercised control over resource allocation by US corporate enterprises. In this chapter, the lengthy and complex historical process through which the institutional foundations of managerial control emerged in the US corporate economy is discussed. The focusing, in particular, is on the role of the integration of managers as members of business organizations, the diffusion of share ownership, the changing interaction between the stock market and the public corporation, and the transformation of corporate law in facilitating the separation of beneficial ownership of corporate stock from strategic control over the allocation of corporate resources. The main sections of the chapter are: 3.2, The historical foundations of managerial control; 3.3, Managerial control and the Great Depression; 3.4, and New deals, old deals––which discusses changes in corporate governance, workers’ rights and unionism, and defence of the corporate manager's right to manage.Less
In historical perspective, market control over the allocation of US corporate resources stands out as a recent phenomenon, since for most of the twentieth century, salaried managers have exercised control over resource allocation by US corporate enterprises. In this chapter, the lengthy and complex historical process through which the institutional foundations of managerial control emerged in the US corporate economy is discussed. The focusing, in particular, is on the role of the integration of managers as members of business organizations, the diffusion of share ownership, the changing interaction between the stock market and the public corporation, and the transformation of corporate law in facilitating the separation of beneficial ownership of corporate stock from strategic control over the allocation of corporate resources. The main sections of the chapter are: 3.2, The historical foundations of managerial control; 3.3, Managerial control and the Great Depression; 3.4, and New deals, old deals––which discusses changes in corporate governance, workers’ rights and unionism, and defence of the corporate manager's right to manage.
Wilfred Beckerman and Joanna Pasek
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780199245086
- eISBN:
- 9780191598784
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199245088.003.0009
- Subject:
- Political Science, Environmental Politics
This chapter discusses critically the main criticisms of the use of cost‐benefit analysis in environmental policy, such as the incommensurability of environmental values with the values born by ...
More
This chapter discusses critically the main criticisms of the use of cost‐benefit analysis in environmental policy, such as the incommensurability of environmental values with the values born by marketable goods, and the related unreliability of estimates of peoples’ willingness to pay for environmental protection. While it is found that there is some strength in these criticisms, it is still necessary to take account of the resource constraint involved in decisions concerning public goods. Furthermore, a democratic society needs some impartial and transparent process for solving allocation problems. However, the need to reconcile the valid objections made by environmentalists to cost‐benefit analysis with the problems raised by resource constraints raises new problems of political theory and institutions.Less
This chapter discusses critically the main criticisms of the use of cost‐benefit analysis in environmental policy, such as the incommensurability of environmental values with the values born by marketable goods, and the related unreliability of estimates of peoples’ willingness to pay for environmental protection. While it is found that there is some strength in these criticisms, it is still necessary to take account of the resource constraint involved in decisions concerning public goods. Furthermore, a democratic society needs some impartial and transparent process for solving allocation problems. However, the need to reconcile the valid objections made by environmentalists to cost‐benefit analysis with the problems raised by resource constraints raises new problems of political theory and institutions.
Partha Dasgupta
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198288350
- eISBN:
- 9780191596094
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288352.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into ...
More
This book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into human well‐being and the phenomenon of destitution as it occurs among rural populations of the poor countries of Asia, Africa, and Latin America. A central concern has been to reconcile theoretical considerations with empirical work in several disciplines—anthropology, demography, ecology, economics, epidemiology, geography, moral and political philosophy, and the environmental, nutrition, and political sciences. The discussion aims to provide a political philosophy for human well‐being that can guide public policy in poor countries. Thus, the role of the state, communities, households, and individuals is studied in detail. The book is arranged in four parts: I, Well‐being: theory and realization; II, Allocation of resources among households: the standard theory; III, The household and its setting: extensions of the standard theory; and IV, Undernourishment and destitution. It is suitable for general readers interested in applied political and moral philosophy, for social scientists (especially academics in the fields of development and welfare economics, general economic theory, and anthropology), and for nutrition scientists, policy makers, commentators, and research staff.Less
This book deals comprehensively with the problem of poverty and undernourishment, and addresses the debate over methods of estimating their incidence. It is an analytical and empirical inquiry into human well‐being and the phenomenon of destitution as it occurs among rural populations of the poor countries of Asia, Africa, and Latin America. A central concern has been to reconcile theoretical considerations with empirical work in several disciplines—anthropology, demography, ecology, economics, epidemiology, geography, moral and political philosophy, and the environmental, nutrition, and political sciences. The discussion aims to provide a political philosophy for human well‐being that can guide public policy in poor countries. Thus, the role of the state, communities, households, and individuals is studied in detail. The book is arranged in four parts: I, Well‐being: theory and realization; II, Allocation of resources among households: the standard theory; III, The household and its setting: extensions of the standard theory; and IV, Undernourishment and destitution. It is suitable for general readers interested in applied political and moral philosophy, for social scientists (especially academics in the fields of development and welfare economics, general economic theory, and anthropology), and for nutrition scientists, policy makers, commentators, and research staff.
Andrew Green
- Published in print:
- 2007
- Published Online:
- September 2009
- ISBN:
- 9780198571346
- eISBN:
- 9780191724138
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198571346.003.0011
- Subject:
- Public Health and Epidemiology, Public Health, Epidemiology
The resource allocation and budgeting process is one of the most powerful stages of planning. Resource allocation refers to the distribution of resources, and in particular finance, from the centre ...
More
The resource allocation and budgeting process is one of the most powerful stages of planning. Resource allocation refers to the distribution of resources, and in particular finance, from the centre to peripheral levels. Budgeting implies the more detailed determination of precisely how these funds are to be used. This chapter first outlines the major types of budget. It then looks at the main approaches to budgeting and resource allocation, and lastly discusses financial management issues relevant to the planner.Less
The resource allocation and budgeting process is one of the most powerful stages of planning. Resource allocation refers to the distribution of resources, and in particular finance, from the centre to peripheral levels. Budgeting implies the more detailed determination of precisely how these funds are to be used. This chapter first outlines the major types of budget. It then looks at the main approaches to budgeting and resource allocation, and lastly discusses financial management issues relevant to the planner.
Paul Seabright
- Published in print:
- 1993
- Published Online:
- November 2003
- ISBN:
- 9780198287971
- eISBN:
- 9780191596704
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198287976.003.0026
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Seabright comments on two issues in Roemer's paper: (1) the comparison of theory with practice when technologies are changing over time is more difficult than Roemer implies; and (2) while he is in ...
More
Seabright comments on two issues in Roemer's paper: (1) the comparison of theory with practice when technologies are changing over time is more difficult than Roemer implies; and (2) while he is in agreement with the enterprise of developing normative rules and using them to assess the practice of policy‐makers, Seabright believes that Roemer needs a more persuasive rule than the leximin allocation rule.Less
Seabright comments on two issues in Roemer's paper: (1) the comparison of theory with practice when technologies are changing over time is more difficult than Roemer implies; and (2) while he is in agreement with the enterprise of developing normative rules and using them to assess the practice of policy‐makers, Seabright believes that Roemer needs a more persuasive rule than the leximin allocation rule.
Partha Dasgupta
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198288350
- eISBN:
- 9780191596094
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288352.003.0016
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The main part of this chapter discusses the household as an allocation mechanism. It has eight sections; (1) gender differentials among adults; (2) allocations among girls and boys; (3) bridewealth ...
More
The main part of this chapter discusses the household as an allocation mechanism. It has eight sections; (1) gender differentials among adults; (2) allocations among girls and boys; (3) bridewealth and dowry; (4) regional patterns of household allocations: the case of India; (5) marriage and inheritance in India; (6) bargaining theory as a framework for household choice; (7) the Nash programme: a formalization; and (8) bargaining versus maximization of well‐being within the household. An extra and separate section (designated Chapter *11) gives theoretical presentations on two aspects of the axiomatic bargaining theory: (1) the Nash bargaining solution; and (2) the Kalai–Smorodinsky bargaining solution.Less
The main part of this chapter discusses the household as an allocation mechanism. It has eight sections; (1) gender differentials among adults; (2) allocations among girls and boys; (3) bridewealth and dowry; (4) regional patterns of household allocations: the case of India; (5) marriage and inheritance in India; (6) bargaining theory as a framework for household choice; (7) the Nash programme: a formalization; and (8) bargaining versus maximization of well‐being within the household. An extra and separate section (designated Chapter *11) gives theoretical presentations on two aspects of the axiomatic bargaining theory: (1) the Nash bargaining solution; and (2) the Kalai–Smorodinsky bargaining solution.
