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The corporation was a timely emergent phenomenon of the capitalist system. Under entrepreneurial ownership with customer value creation goals, corporations introduced new products and services, new capital structures and new management processes capable of improving...
The capability approach is a versatile framework rooted on issues of justice and multidimensional assessment of quality of life developed in the 1980s as an alternative approach to prevailing mainstream development ideas focused narrowly on economic development. Most...
This Element proposes an alternative framework for rethinking the role of finance in serving the real economy from the perspective of New Structural Financial Economics. It challenges the conventional wisdom that developing countries should take the financial structure...
This is a comprehensive long-run history of economic and political change in the Iberian Peninsula. Beginning with the development of the old medieval kingdoms, it goes on to explore two countries, Portugal and Spain, which during the early modern period possessed vast...
Why have anti-corruption efforts often failed? Current thinking on corruption has largely overlooked the profound implications of its contested nature, which paradoxically makes it an effective yet highly dysfunctional 'tool of government.' As a tool of government, it...
Macroprudential regulation is a set of economic and policy tools that aim to mitigate risk in the financial and banking systems. It was largely developed in response to the financial crisis of 2007-08, turning central banks into de facto financial policemen. Taming the...
Many developing countries still face difficulties initiating and sustaining economic development. Such difficulties have been exacerbated by the COVID-19 pandemic, resulting in an increasing divergence between rich and poor countries. One crucial question is whether to...
The focus of this Element is on the idea that choice is hierarchical so that there exists an order of acquisition of durable goods and assets as real incomes increase. Two main approaches to deriving such an order are presented, the so-called Paroush approach and Item...
This Element reviews the varieties of capitalism approach (VoC) first developed by Hall and Soskice and subsequent extensions to emerging markets. The author suggests that by reinvigorating existing ideal types and creating new ones through an analysis of its five...
We have entered an era of perverse economic growth, at the expense of social and natural capital. As the world runs further behind on the Sustainable Development Goals, managing and mitigating the looming environmental and social crises in an increasingly volatile,...
The economics of monopsony power results in lower wages and other forms of compensation, as well as reduced employment. Wealth is transferred from workers to their employers. In addition, the employer's output is reduced, which leads to increased prices for consumers....
While there have always been high levels of philanthropic giving in the Global South, the urgency and unexpectedness of COVID-19 transformed the parameters within which philanthropy operates. 'Reimagining Philanthropy in the Global South' examines how newer models of...
Decarbonisation is the reduction of carbon dioxide emissions using low carbon power sources, lowering output of greenhouse gasses into the atmosphere. This is essential to meet global temperature standards set by international climate agreements. To limit global warming...
Existing research on the rise of precarious forms of employment has paid little attention to gender and diversity challenges. Yet precarious work has damaging effects for vulnerable demographics, with women, ethnic minorities and people with disabilities more...
Ludwig Lachmann is a central but underappreciated figure within the Austrian school of economics. Although his understanding of institutions, his appreciation of the heterogeneity of capital, his emphasis on subjectivity, and his focus on the dynamism and uncertainty of...
This Element examines the process of economic development of the last 50 years or so under the neoliberal model in terms of impacts on growth, inflation, income and wealth distribution and structural change. The analysis includes a historical perspective from the 19th...
Mainstream economics assumes economic agents act and make decisions to maximize their utility. This model of economic behavior, based on rational choice theory, has come under increasing attack in economics because it does not accurately reflect the way people behave...
The branch of psychology that studies how physical objects are perceived by subjects is known as psychophysics. A feature of the experimental design is that the experimenter presents objectively measurable objects that are imperfectly perceived by subjects.The responses...
Archaeologists, anthropologists, and evolutionary biologists study the origins of our relationship with dogs and how it has evolved over time. Sociologists and legal scholars study the roles of dogs in the modern family. Veterinarian researchers address the relationship...
What is the nonprofit sector and why does it exist? Collecting the writing of some of the most creative minds in the field of nonprofit studies, this book challenges our traditional understanding of the role and purpose of the nonprofit sector. It reflects on the ways...
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