The essay proceeds from the assumptions that for a economic/political integration group to succeed, first, its participants’ motives should ideally be as alike as possible and not oppose one another and, second, their expectations from integration should correspond to the organisation’s capabilities. In light of these assumptions, the study endeavours to assess the Eurasian Economic Union’s (EAEU) potential for stability and development. First, the author analyses the key motives that were driving its member states’ decisions to (...) enter the organisation, compares them with one another and discusses how the countries’ motives influence their conduct in the union. Second, the author confronts those motives against the EAEU’s activities and the general logic of interstate politics on the post-Soviet space to reckon up whether the bloc’s capabilities fit with the expectations of its member countries. Finally, based on that discussion, the author speculates on how the divergence/convergence of EAEU member states’ goals, as well as the (in-)feasibility of their expectations, affect the organisation’s development. (shrink)

China and Russia are the main driving forces of Eurasian integration. Russia is pursuing its “pivot to Asia,” while China is branching out to the West through its Belt and Road Initiative (BRI). The interests of Russia and China meet in Eurasia and their friendly relations have led to several cooperation projects there. The most important are linkages between the Eurasian Economic Union and Silk Road Economic Belt Initiative and the plan to create a broader (...) Eurasian Economic Partnership or Greater Eurasia. This article studies the reasons which led the two countries to intensify their cooperation in Eurasia and the current state and prospects of that cooperation. (shrink)

This volume of Eurasian Studies in Business and Economics includes selected papers from the 24th Eurasia Business and Economics Society Conference, held in Bangkok. The theoretical and empirical papers gathered here cover diverse areas of business and management from different geographic regions; yet the main focus is on the latest findings on evolving marketing methods, analytics, communication standards, and their effects on customer value and engagement. The volume also includes related studies that analyze sustainable consumer behavior, and business strategy-related (...) topics such as cross-border restructuring, quality management standards, and the internationalization of SMEs. (shrink)

This volume of Eurasian Studies in Business and Economics includes selected papers from the 24th Eurasia Business and Economics Society (EBES) Conference, held in Bangkok. The theoretical and empirical papers gathered here cover diverse areas of business and management from different geographic regions; yet the main focus is on the latest findings on evolving marketing methods, analytics, communication standards, and their effects on customer value and engagement. The volume also includes related studies that analyze sustainable consumer behavior, and business (...) strategy-related topics such as cross-border restructuring, quality management standards, and the internationalization of SMEs. (shrink)

The legal regime of the Economic and Monetary Union (EMU) is differentiated in two ways. While the rules on economic union apply with few exceptions to all member states, most Treaty provisions on monetary union are applicable only to those member states that have introduced the common currency. The Treaty on the Functioning of the European Union (TFEU) establishes a system of overlapping competences consisting primarily of measures adopted by the member states. During the (...) initial phase of the European Economic Community (EEC), exchange‐rate fluctuations or flexible exchange rates obstructed the development of a workable capital market. The Treaty of Lisbon provides that the European Union is to establish a monetary union whose currency is the euro. The TFEU provides for institutional and procedural mechanisms aimed at protecting the stability of the common currency. The euro has become a stable and internationally recognized currency. (shrink)

Scholarship on gender and the European Union has consistently pointed out that EU gender equality policies have always been embedded in the logic of the market and that the economic framing has had negative impacts on the content and concepts of these policies. This article provides novel insights into this discussion by combining a discursive approach focused on framings with insights of feminist economists and examining how the relationship between gender equality and the economy has been conceptualized in (...) EU policy documents from the 1980s up until the present day. The article identifies the key actors and processes behind the escalation of economic arguments for gender equality and makes visible the economic assumptions that underpin EU gender equality policy. It argues that in recent years the European institutions have intentionally developed and propagated a market-oriented gender equality discourse, the economic case for gender equality, which highlights the macroeconomic benefits of gender equality. The economic case reaffirms the gender-biased assumptions of neoclassical economic theory and legitimizes the EU’s current economic priorities and policies, many of which are detrimental to gender equality. The European Commission represents the argument that gender equality contributes to economic growth as an innovative way to promote gender equality. However, the economic case represents a risk for gender equality advocates, because it may tame the emerging feminist criticism of the EU’s economic policies and governance. (shrink)

This study investigates the impact of labor unionization on stock price crash risk. We find that labor unionization is negatively associated with stock price crash risk. Such negative relation is more pronounced when firms can intimate more credible evidence on unfavorable prospects and when firms face more powerful labor unions. Our findings are consistent with the notion that firms take strategic actions to reduce the bargaining advantages enjoyed by labor unions and that labor unions force firms to take less risky (...) investments and discontinue underperformed projects more timely, which leads to lower stock price crash risk. (shrink)

The world of work is undergoing major surgery. Future economic historians may yet describe the cumulative impact of globalisation, technological change and new work patterns that are currently shaking the OECD countries as an economic revolution similar in magnitude and significance to the industrial revolution of the 19th century. There is certainly plenty of pain around, but scattered in so many countries and cultures that this late 20th century revolution will probably prove to have been beyond the capacity (...) of any Charles Dickens, or of a Marx and Engels, to chronicle.From the perspective of the European Union, the pain is clearly visible in two areas: a growing insecurity and stress attending many who are at work in the Union, particularly in occupations and employments where earnings have risen a lot; and the level and persistence of long-term unemployment together with the growing number of discouraged workers, primarily men, who are opting out of the labour force altogether. Not visible within the EU, but no less real of course, is the impact on workers in other countries when the Union adopts protectionist or aggressive trading policies.[...]CONCLUSION :The dislocation that is evident throughout the world of work today, and the insecurity and pain it is causing, is influencing political life in the European Union. What Americans would call the ‘feel bad’ factor tempts some to support protectionist measures, abrupt limits to immigration, cuts in taxation and social services, workfare or — if they are outsiders — abuse of the social welfare system and black market activity. It is important to appreciate that very few people are escaping; the upheavals in the world of work are affecting insiders and outsiders. Making common cause requires forging a fresh consensus on fundamental values of which two key ones are the nature of a business enterprise and the place of a job in a person’s life. These are the key areas where social innovation must match the apparently ceasless innovations on the part of technology. They may, hopefully, prove capable of redirecting the process of technological change itself. (shrink)

Collective bargaining is the main vehicle for labour worldwide to negotiate wages, benefits, retirement policies, training and other terms of working with management in both the public and private sectors. Labour economists have long been active in modelling the relations between collective bargaining agreements, labour markets and social welfare conditions. This book presents a theoretical model of unions which offers a unified treatment of the centralisation of bargaining, the credibility of labour contracts, the unionisation of labour markets and the relative (...) bargaining power of the union. Tapio Palokangas develops the microfoundations of bargaining and examines collective bargaining interacting with public policy, investment and growth, and international trade and specialisation. In conclusion Professor Palokangas challenges the commonly held view that collective bargaining has a negative impact on economics welfare, and argues that with the existence of market failure, collective bargaining can be welfare enhancing. (shrink)

Although the history of centrally planned economies has been widely studied, the development of socialist thinking on the subject has remained largely uncharted. In this 1991 work, Pekka Sutela presents a detailed analysis of Soviet economic thought and theory. Dr Sutela traces the competing currents in the Marxist tradition of socialist economies from the Revolution to the present day. In particular he shows how the Gorbachev economic reform programme of 1987 rose from the work of Nobel Prize economist (...) L. V. Kantorovich and his followers. However, this programme failed and the author explains in some detail why this happened. Since then, Soviet economists have tried to abandon their traditional theory of central planning and move along the path and long established contacts with leading Soviet economists, Pekka Sutela is able to show how Soviet economic thinking has moved from dogmatism through reformism to pragmatism. (shrink)

The ageing population has become one of the major issues, with manifold consequences upon the economic welfare and elderly living standards satisfaction. This paper grasps an in-depth assessment framework of the ageing phenomenon in connection with the labor market, with significant implications upon economic welfare, across the European Union. We configure our research on four distinctive groups of the EU–27 countries based on the Active Ageing Index mapping, during 1995–2018, by acknowledging the different intensities of ageing implications (...) on economic well-being from one group of countries to another. The methodological endeavor is based on Structural Equation Modelling. Empirical results highlight that the ageing dimensions and labor market productivity notably shape the socioeconomic development of EU countries, visibly distinguished across the four panels. The economic development induced remarkable positive spillover effects on the welfare of older people, under the influence of the ageing credentials and dynamic shaping factors. Our research advances the literature underpinnings on this multifaceted topic by investigation made on specific groups of the EU countries and distinctive strategies proposed for each group of countries, as effective results for improving the well-being of older people. Constant policy rethinking and adequate strategies should be a top priority for each specific group of EU countries, to further sustain the ageing phenomenon, with positive implications mostly on elderly welfare. (shrink)

If Western Protestants and Neoprotestants preaching about “universal Christian brotherhood”, thus are carriers of postmodern global culture, come forward as propagandists of Westernization of the world, missionaries from countries, socalled “near abroad” uniting at different sorts Eurasian institutes, seminaries, unions, missions, services, conferences, associations orientated ion supporting links at the former Soviet Union and consequently on development of Russian empire — Russia as Eurasia, “Russia-Eurasia”.

The article delves into Kazakhstan’s policies vis-à-vis the European Union, focusing on their driving motives and enabling conditions. Drawing upon published papers and, to a lesser degree, primary sources, the author argues that friendship with the EU largely serves the Kazakhstani elite as means of economic modernisation as well regime legitimation, perfectly fitting Kazakhstan’s dominant domestic discourse which portrays the country as Eurasian and its foreign policy—as multi-vector. The study also shows that Astana’s partnership with Brussels is (...) to a large degree possible because the EU holds a simultaneous positive attitude to such partnership regardless Kazakhstan’s authoritarian regime. According to the article, such reflects the great instrumental value collaboration with Astana gives Brussels, the EU’s general inactivity on democracy promotion in Central Asia and Kazakhstan’s looking more pro-European and economically/politically advanced against the background of its post-Soviet and Central Asian autocratic fellows. The paper concludes by reflecting on the configuration of pragmatism and identity in Astana’s approach to the EU and discussing the peculiarities of the bloc’s power over Kazakhstan. (shrink)

For years now, unionization has been under vigorous attack. Membership has been steadily declining, and with it union bargaining power. As a result, unions may soon lose their ability to protect workers from economic and personal abuse, as well as their significance as a political force. In the Name of Liberty responds to this worrying state of affairs by presenting a new argument for unionization, one that derives an argument for universal unionization in both the private and public (...) sector from concepts of liberty that we already accept. In short, In the Name of Liberty reclaims the argument for liberty from the political right, and shows how liberty not only requires the unionization of every workplace as a matter of background justice, but also supports a wide variety of other progressive policies. (shrink)

The economic and debt crisis threaten many eurozone countries and the very existence of the common currency, the euro. The crisis has meant that some special mechanisms have had to be created (EFSF, ESM) and the introduction of special procedures in heavily indebted countries. The deepening of the crisis and the economic recession in the euro area have resulted in the growth of nationalism and anti-European sentiments in EU member states. Resolving the crisis, however, requires further convergence of (...) the eurozone countries, the formation of a fiscal union and a banking union. At the same time, the crisis has shown that the grand theories of European integration, neo-functionalism and liberal intergovernmentalism, have failed to provide answers to the questions raised by the crisis, and this has led to the growing importance of social constructivism. (shrink)

Purpose of the article is to present in two parts the selected aspects of application of monetary policy in the euro area pre and post 2008 as well as insitutional adaptations brought by the EU legislator. Methodology/methods In order to better explain these points, the article relies partially on a comparison with the framework and application of the monetary policy by the Federal Reserve as well as on a historic method when outlining the influence of definition of financial stability from (...) the ECB/eurosystem towards other prominent central banks. Scientific aim The article presents selected aspects of the monetary policy in the part of the EU where single currency was introduced in order to outline state of the art governance structure as well as a certain institutional creativity in application of powers conferred upon the central banks by the Treaty on the Functioning of the European Union and Protocol on the Statute of the European System of Central Banks and of the European Central Bank. The goal is to prove the hypothesis of robustness of the framework and present the limits that can only be pushed further by the legislative power. The conclusions confirm on the one hand that the framework of monetary policy based on strong institutional safeguards such as legislative power and independence is very resilient and can prove efficient and creative enough to stabilise an innovative monetary system, however, on the other hand, validate the hypothesis that certain adaptations can only be performed on the basis of a legislative adaptations. (shrink)

Purpose of the article is to present in two parts the selected aspects of application of monetary policy in the euro area pre and post 2008 as well as insitutional adaptations brought by the EU legislator. Methodology/methods In order to better explain these points, the article relies partially on a comparison with the framework and application of the monetary policy by the Federal Reserve as well as on a historic method when outlining the influence of definition of financial stability from (...) the ECB/eurosystem towards other prominent central banks. Scientific aim The article presents selected aspects of the monetary policy in the part of the EU where single currency was introduced in order to outline state of the art governance structure as well as a certain institutional creativity in application of powers conferred upon the central banks by the Treaty on the Functioning of the European Union and Protocol on the Statute of the European System of Central Banks and of the European Central Bank. The goal is to prove the hypothesis of robustness of the framework and present the limits that can only be pushed further by the legislative power. The conclusions confirm on the one hand that the framework of monetary policy based on strong institutional safeguards such as legislative power and independence is very resilient and can prove efficient and creative enough to stabilise an innovative monetary system, however, on the other hand, validate the hypothesis that certain adaptations can only be performed on the basis of a legislative adaptations. (shrink)

At a time when trade union activity is becoming more global, the article provides a theoretical framework that places a moral obligation on unions towards work migrants from the time they take a first step in the direction of movement, and continuing after they enter the receiving country and throughout the period of their work. The argument is based on theories of global justice and offers a three-axis framework that enables a complex analysis of union responsibility: direct and (...) political responsibility, labour connectedness and solidarity. The moral obligation of unions stemming from global justice differs from the citizenship-based model or that of human rights. Its basis is global. Such an obligation should be recognized by various institutions, including the courts, thereby adding a global dimension to rights relating to collective action, such as the right to unionize, the right to collective bargaining and the right to strike. The article analyses the ECJ’s decisions in the Viking and Laval cases, showing how the court failed to recognize this global dimension, and claiming that if such recognition were to be extended, a more accurate balance could be achieved between rights relating to collective action and economic interests in an era of globalization. (shrink)

Competing arguments surrounding the relationships between inequalities and labor rights have persisted over time. This paper explores whether labor rights increase or decrease two types of wage inequalities: vertical inequality and horizontal inequality. Vertical inequalities reflect inequalities in wealth or income between individuals, while horizontal inequalities reflect inequalities between social, ethnic, economic, and political groups which are usually culturally defined or socially constructed. By broadening the scope beyond traditional indicators of inequality (i.e., vertical inequality) to include horizontal inequality, we (...) test whether government respect for labor rights can help reduce inequality. We find that as labor rights and practices improve, countries see a decrease in horizontal inequality. Furthermore, as stronger protections for labor rights improve within countries, this also serves to reduce individual levels of inequality (i.e., vertical inequality). (shrink)

In this essay, I assess Stalin’s ideas and concepts about nationalities, their ‘manipulability’ and their legacies. I do this by briefly reconstructing their theoretical and political roots in both Tsarist and socialist traditions. Special attention will be paid to the discovery of a positive correlation between economic development and the growth of nationalism among ‘backward’ peasant peoples, which went against the grain of previous socialist beliefs, and to the appearance of a theory according to which socialism would naturally produce (...) a superior national-popular society. After discussing the evolution of these ideas and concepts, their practical applications, and the reaction they generated up to 1953, I will focus on the Soviet post-Stalinist theories and practices, and their results, also by taking into consideration the development in Soviet times and after 1991, of new, hybrid variants of Russian nationalism, as well as of Eurasian trends. (shrink)

Today’s low-wage workforce is mostly ignored by the national political parties and largely untouched by organized labor. Over the last twenty years, “community unions” have emerged to try to fill the void. They are modest-sized community-based organizations of low-wage workers that, through a combination of service, advocacy, and organizing, focus on issues of work and wages. Community unions have so far had greater success at raising wages and improving working conditions via public policy rather than direct labor market intervention. This (...) is because low-wage workers in America today have greater political than economic power. (shrink)

The purpose of the present contribution is to explore how the ECJ seeks to respect the principles underpinning national welfare systems, notably social solidarity, whilst ensuring that Member States comply with the substantive law of the European Union, in particular with the Treaty provisions on the fundamental freedoms and EU citizenship. It is submitted that in order to reconcile those two interests the ECJ has taken the view that nationals of the host Member State must show a certain degree (...) of financial solidarity with the nationals of other Member States who have established a ‘genuine or real link’ with the society of that State. With a view to establishing the existence of such a link, national authorities of the host Member State must engage in a case-by-case assessment of the personal circumstances of the EU citizen claiming social benefits. However, Förster is an important exception to the individual application of the ‘genuine or real link’ test. Although Förster does not overrule Bidar as a matter of principle, it exempts the host Member State from examining the personal situation of economically inactive students who apply for maintenance grants or student loans but have not yet completed a five-year period of residence. (shrink)

To what extent does the loosening of the ties between a social democratic party and its sister unions indicate a shift in the party's traditional objectives or bases of support? In this article it is argued that the estrangement between these parties and their unions is not always an indicator or a proof of the abandonment of workers and solidaristic goals by social democratic parties. The evolution of the party-union relationship is not only shaped by the economic and (...) social policies of the party but is also constrained by the organizational context of the trade unions. And when a close relationship exists in a context of competitive unionism and a growing economy, it is highly likely that the pressure and threats that unions direct at their social democratic parties are largely inspired by their need to maintain and enhance their organizational position vis-à-vis their union rivals rather than by a change in the goals and policies of their sister parties themselves. (shrink)

Coastal protection is crucial to human development since the ocean has many values associated with the economy, ecosystem, and culture. However, most ocean protecting efforts are currently ineffective due to the burdens of finance, lack of appropriate management, and international cooperation regimes. For aiding bottom-up initiatives for ocean protection support, this study employed the Mindsponge Theory to examine how the public’s perceived economic and cultural values influence their willingness to support actions to protect the ocean. Analyzing the European-Union-Horizon-2020-funded (...) dataset of 709 respondents from 42 countries, we discovered that perceived economic values have negative effects on the tendency of ocean protection supports (i.e., food, transportation, renewable energy, oil and gas, and recreation). In contrast, certain perceived cultural values can help increase the willingness to do so (i.e., mental well-being and sense of identity). However, the effects of perceived cultural values are only moderately reliable. These findings suggest that designing cultural information delivery campaigns can help promote coastal reserve supports, such as fundraisings and preserving the oceans from the community. (shrink)

The European Union approach to data protection consists of assessing the adequacy of the data protection offered by the laws of a particular jurisdiction against a set of principles that includes purpose limitation, transparency, quality, proportionality, security, access, and rectification. The EU's Data Protection Directive sets conditions on the transfer of data to third countries by prohibiting Member States from transferring to such countries as have been deemed inadequate in terms of the data protection regimes. In theory, each jurisdiction (...) is evaluated similarly and must be found fully compliant with the EU's data protection principles to be considered adequate. In practice, the inconsistency with which these evaluations are made presents a hurdle to international data-sharing and makes difficult the integration of different data-sharing approaches; in the 20 years since the Directive was first adopted, the laws of only five countries from outside of the EU, Economic Area, or the European Free Trade Agreement have been deemed adequate to engage in data transfers without the need for further administrative safeguards. (shrink)

The founding fathers of neoliberalism are usually imagined as very rational neoclassical economists uninterested in cultural and religious issues. The aim of this paper is to paint a different picture by discussing the ideas of (neo)liberal economists regarding spiritual heritage, with an emphasis on eastern religions. Starting from the existing historiographical debate on the role of Daoist notions in the birth of political economy in 18th-century Europe, as an example of cultural transfer par excellence, argumentation develops into a comparative analysis (...) of philosophical underpinnings of modern laissez-faire liberalism and neoliberalism. The main thesis of the paper is that important epistemological differences between analysed doctrines imply the differences in the attitude of modern economic liberalism towards religion, which is demonstrated via examples of appropriations and translations of eastern heritage. This is a preliminary analysis but with the potential to shed new light on the political theology of contemporary culture and neoliberalism itself. (shrink)

The European Union requires a stronger approach to social solidarity than has been offered in existing theory. Perhaps the exigency of this claim is nowhere more evident than in the recent failed referendums in France and the Netherlands. In both cases the narrow legal-economic sense of the EU won out over what was hoped to be an emerging European public sphere, indeed a shared sense of European identity rooted in history. This article asks what type of ‘history’ this (...) identity requires. Approaching this problem from a theoretical perspective, I will outline why and how such a ‘history’ must accord with the existing limits set by post-and/or transnationalism itself. Second, I will question how well various attempts at writing such a ‘history’ have already managed in terms of these limits. Lastly, drawing on the current work of sociologist Ulrich Beck, I will put forward a theoretical alternative to the existing models. (shrink)

At the current segment of the life story, we are throwing more and more new problems, without which solutions can not be advanced on the way to a dysfunctional rule of law, with the attributive, integral features of which will be national prosperity and democracy, humanity and economic prosperity. Unfortunately, these problems are not diminished, and one of the reasons is that we often try to solve them from the standpoint of ignorance - not rising above desire and emotions, (...) interest and strength. (shrink)

Written by four recognized experts with senior experience in research and government, this text is the first comprehensive survival kit for students and practitioners of economic policy. It is set to become an indispensable resource for everyone involved or interested in modern economic policy. Academic scholars willing to engage in policy discussions and students at graduate or advanced undergraduate levels will find it an essential bridge to the policy world. What makes the book unique is that it combines (...) like no other, facts-based analysis, state-of-the art theories and models, and insights from first-hand policy experience at national and international levels. The book has grown out of ten years of experience teaching economic policy at the graduate level. It provides an intellectually coherent framework to understand the potentialities and limits of economic policy. It addresses positive dimensions, normative dimensions and political-economy constraints. It fills an important gap by reconciling in each major policy area stylized facts of recent economic history, key questions faced by contemporary policymakers, and essential lessons from theory which are captured and explained in a clear, concise, and self-contained way. All major areas of domestic and international policymaking are covered: fiscal policy, monetary policy, international finance and exchange-rate policy, tax policy, and long-term growth policies. The book concludes with a special chapter on the lessons of the financial crisis. The authors are intellectually non-partisan and they draw examples from various countries and experiences; from emerging markets to developing economies, shedding light when necessary on local specificities such as European Union rules and instruments. Economic Policy: Theory and Practice is the essential guide to economic policy in the new post-crisis context. (shrink)

In the context of the digital economy development, the priority component of the economic security of an enterprise is changing from material to digital, constituting an independent element of enterprise security. The relevance of the present research is driven by the need to solve the issue of modernizing the economic security of the enterprise taking into account the new risks and opportunities of digitalization. The purpose of the academic paper lies in identifying the features of preventing internal and (...) external negative influences (threats) in order to guarantee the effective and stable functioning and dynamic social development of the enterprise in the context of digitalization. The research methods are as follows: general scientific research methods, in particular, logical analysis, theoretical substantiation, methods of induction and deduction, formalization and generalization, statistical observation. Results. It has been proposed to introduce the concept of “digital security of the enterprise” for replacing the concept of “information component of economic security” in order to bring the terminology in line with new economic realities. The implementation of the “black box” model has made it possible to identify the latest risks and threats to the economic security of an enterprise within the conditions of the digitalization that differs from the existing ones. The assessment of enterprises’ digital security of the European Union member states has revealed that the digital security level does not depend on the size of the country, however, it is influenced by the institutional environment (in particular, digital development tools in the EU) and the size of enterprises. Also, within the research framework, an assessment of the digital security level of enterprises in the context of digitalization has been proposed. In order to characterize enterprises by the level of digital security, a calculation procedure using the coefficient method has been proposed. (shrink)

The question of the relation between the economic reforms introduced in or contemplated by the East European communist countries (including now a days the Soviet Union as well) and China, and the pattern of income distribution is obviously of great interest: how will the increased use of market mechanisms affect the degree of inequality? Strong views on the matter are frequently voiced both by proponents and opponents of market-oriented reforms, but there is surprisingly litde empirical evidence based on (...) systematic research. To my knowledge the work under review is the first book with such an explicit objective. (shrink)

The Ethics of Economic Sanctions Economic sanctions involve the politically motivated withdrawal of customary trade or financial relations from a state, organisation or individual. They may be imposed by the United Nations, regional governmental organisations such as the European Union, or by states acting alone. Although economic sanctions have long been a feature of international … Continue reading Ethics of Economic Sanctions →.

In lieu of an abstract, here is a brief excerpt of the content:Buddhist-Christian Studies 22 (2002) 2-15 [Access article in PDF] Economic Aspects of Social and Environmental Violence John B. Cobb Jr. Claremont School of Theology I When we think of violence, what first comes to mind are violent acts by individuals or groups against other individuals. We think of rapes and murders, lynchings and muggings, beatings and armed robberies. We want the police to protect us from this violence. (...) Unfortunately, we know that police are tempted, in turn, to employ their power in violent ways, chiefly against those guilty of crimes, but sometimes against the innocent. The cycle of violence on the part of individuals and groups goes on.Bad as this violence is, it is worse when the state, instead of restricting it, supports and requires it. Political authorities have always exercised violence against their own people, especially those they suspected of being threats to their power. But in the twentieth century, state violence reached previously unheard of levels. For the sake of building a communist society, Stalin killed millions and imprisoned millions more. The Nazis undertook to purify Germany of Jews, gypsies, and other undesirables through extermination undertaken through bureaucratic processes.We Americans do not think of ourselves as having employed state power in any such way. We know that national power was used violently to drive Native Americans off their land down through the nineteenth century. We know that southern states used their power to enforce segregation and protect whites who engaged in violent acts against blacks in order to maintain total white domination over them. But we now think of the national government much more as the protector of human rights. This is not entirely false.We tend not to recognize, however, the amount of violence the national government is exercising in the wars against crime and drugs. In order to reduce individual violence as well as drug use, we have created a prison population of two million. One-fourth of all the prisoners in the world are in the United States, most of them jailed for nonviolent crimes. Although drug use is more or less equally spread among ethnic and economic groups, most of those imprisoned for this crime are poor and ethnic minorities. In the name of law and order, enormous violence is inflicted by the United States against the people of its ghettos. [End Page 3]In this same century war also took on new dimensions. It has been waged against entire populations instead of armies. The aim at total destruction came to its fullest expression when twice the United States dropped atomic bombs on Japan.World War II has made all of us sadly aware of the horrors of state violence. It has turned us against nationalism. We are appalled as we see nationalism raise its ugly head again in the former Soviet Union and especially in the former Yugoslavia. When ethnic groups undertake to destroy each other, our moral condemnation is unambiguous. Personal, group, and state violence remains a problem, but at least the wrong involved in this is widely understood.In all civilization there has been another kind of violence—economic. In much of history economic violence has been closely related to the forms noted above. The rich have been able to impose their will on the poor because they could employ persons to exercise violence for them and they could influence state action. We see this glaringly in the "goon squads" employed by the wealthy in some Latin American countries to intimidate and kill those who protest their actions. These goon squads often work closely with the military power of the state.We know that in this country as well, wealth reduces the chance of conviction for crimes. It also buys influence in government. On the whole the United States government throughout history has supported the interests of those with money. Today the power of wealth in the political process is clearly evident. We recognize that this situation is corrupt, but we do not ordinarily think of it as a form of violence. This is because the violent consequences are indirect, and we are... (shrink)

This paper presents the results of two experiments designed to test violations of Subjective Expected Utility Theory (SEUT) within a sample of Italian trade union delegates and leaders. Subjects priced risky and ambiguous prospects in the domain of gains. Risky prospects were based on games of chance, while ambiguous prospects were built on the standard Ellsberg paradox and on event lotteries whose outcomes were based either on the results of a fictional election or on the future results of the (...) 1999 European Parliamentary election in Italy and the U.K. The experiments show that, although risky prospects were priced at their expected values on average, trade union delegates and leaders did violate SEUT when assessing ambiguous prospects. Moreover, their behaviour depended on the source of uncertainty (Ellsberg paradox vs. electoral results; fictional vs. real election; Italy vs. U.K. election outcomes). We discuss the implications of these results for the economic theory of the trade union. (shrink)

This chapter analyzes European social policy as a test case to comment on both the originality and the weakness of a unique supranational legal order, such as the one created in 1957 with the Treaty of Rome. Regulatory measures in social policy, related to equal treatment, nondiscrimination, and working conditions were implemented via hard law measures aiming at the harmonization of standards. The chapter also looks at the latest innovations in social policy brought about by the Lisbon Treaty. Article 3 (...) of the Treaty on European Union (TEU) mentions full employment among the objectives to be pursued in a social market economy. The economic and financial crisis has accentuated the problems of supranational coordination versus national initiatives and has given rise to exceptional austerity actions that have departed from the methods provided for in the treaty. (shrink)

“Economic Democracy: A Worthy Socialism that Would Really Work” laid out a model that was to form the basis of my book Against Capitalism, published by Cambridge University Press in 1993. The article, like the book itself, was a theoretical response to the triumphalism of the TINA crowd that followed the collapse of Soviet Union and the rejection of socialism by its satellite states in Eastern Europe. “A Worthy Socialism” was intended to demonstrate rigorously that there is an (...) alternative, at least in theory: an economically viable form of socialism that would be more democratic than capitalism and at least as efficient. Against Capitalism made the same point, but extended the argument further. Economic Democracy would be not only as efficient as capitalism and more democratic, but also more rational in its growth, more stable, more egalitarian, less prone to high unemployment, more ecologically friendly. I was sick of hearing even progressives say that “we are going to have to stop using the term ‘capitalist economy’ as if we knew what a functioning non-capitalist economy would look like.”. (shrink)

Credit unions are one of the most widely established corporate entities in the financial systems of most of the world’s nations. Their historical support to the financing needs of small savers, as well as their assimilation into the framework of contemporary microfinance, gives them an important specific weight in the economic-financial literature of our time. In this sense, our research has carried out a systematic review of the main contributions focused on the area of credit unions over the period (...) 1936–2020, using Scopus and WoS as bibliographic databases. In summary, the main countries, journals, authors, articles, and the main collaborative research networks at the level of authors or countries have been analyzed. In the same way, the implementation of strategic diagrams based on Callon’s procedure has facilitated the classification of the most important terms linked to financial cooperativism, which has served to detect future lines of research related to the terms : asymmetric-information, capital-provision, cooperative-principles, customer-reduction, gender-issues, neoinstitutionalism, poverty, and urban-economy. (shrink)

Long run success in watershed management requires understanding of how economic stratification and social values affect water quality protection. Feedback effects on water quality are produced by three aspects of economic well-being: income levels, quality of life and inequality, including the effects of gender based inequality. In the US emphasis on individualistic values leads to reliance on local and private policy solutions to social problems. Analysis of the context of New York City's internationally famous watershed agreement with communities (...) 120 miles distant provides a case study of these relationships. The nature of economic stratification in these upstate communities and the insufficient response of social policies were an impediment to achieving New York City's water quality goals. As a consequence the City's watershed agreement contains direct economic aid to Watershed communities. The Agreement does not address all stratification issues. Some call for solutions beyond the local level and an approach that benefits from the European emphasis on community. It is in the interest of watershed managers to broaden the scope of their concerns to understand and support state and national programs which address problems created by economic stratification. The expansion of the European Union increases the relevance of these lessons for Europe. (shrink)