Oxford University Press's
Academic Insights for the Thinking World

9780199914081

The Department of Labor awakens

At President Obama’s urging, the US Department of Labor (DOL) has proposed a new regulation condoning state-sponsored private sector retirement programs. The proposed DOL regulation extends to such state-run programs principles already applicable to private employers’ payroll deduction IRA arrangements. If properly structured, payroll deduction IRA arrangements avoid coverage under the Employee Retirement Income Security Act of 1974 (ERISA) and the employers implementing such arrangements dodge status as ERISA sponsors and fiduciaries.

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White and Baker-Economics and the Virtues

The Big Picture and The Big Short: How Virtue helps us explain something as complex as the Financial Crisis

The star-studded new film The Big Short is based on Michael Lewis’s best-selling expose of the 2008 financial crisis. Reviewers are calling it the “ultimate feel-furious movie about Wall Street.” It emphasizes the oddball and maverick character of four mid-level hedge fund managers in order to explain what it would take to ignore the rating agencies’ evaluations and bet against the subprime industry—that is, their own industry.

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9780198743057

Oxford Law Vox: deposit protection and bank resolution

In this episode of the Oxford Law Vox podcast, banking law expert Nikoletta Kleftouri talks to George Miller about banking law issues today. Together they discuss some of the major legal and policy issues that arose from the financial crisis in 2008, including assessing systemic risk and whether the notion of “too big to fail” is on the road to extinction.

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The business of inequality

Recently, debates about inequality have risen to the forefront in academic and public debates. The publication of the French economist Thomas Piketty’s Capital in the Twenty-First Century in 2013 did not, to say the least, go by unnoticed. And many other prominent economists have partaken in the debate about global inequality: Paul Krugman, Joseph Stiglitz and Angus Madison, just to name a few.

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Guillen-The Architecture of Collapse

Systemic: Why the world has become a more dangerous place

Is the world a more perilous place than ever before? Why are there so many crises? What can we do about it? Newspaper headlines routinely reflect the fact that terrorist attacks, industrial accidents, and economic and financial meltdowns are becoming more frequent and more far-reaching in their effects.

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Birdwatching at the Federal Reserve

Seven years ago this month the federal funds rate—a key short-term interest rate set by the Federal Reserve—was lowered below 0.25%. It has remained there ever since.Lowering the fed funds rate to rock-bottom levels did not come as a surprise. The sub-prime mortgage crisis led to a severe economic contraction, the Great Recession, and Federal Reserve policy makers used low interest rates—among other tools—in an effort to revive the economy.

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Hecksher-Trust on a complex world

Hope from Paris: rebuilding trust

It has begun again: the age-old cycle of hate and counter-hate, self-justification and counter-justification, the grim celebrations of righteousness and revenge. In the US, conservative politicians play on it as demagogues always have, projecting strength and patriotism by refusing to take refugees from the lands terrorized by ISIS; my own governor, Chris Christie, tries to outdo his competition by arguing that even five-year-old orphans from Syria should be stopped and sent back, as if they are tainted by being from the same part of the world as the murderers.

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9780198735533

The Uber dilemma: are “crowd-work” platforms employers?

The law has long struggled to adapt to new forms of employment – who should be responsible for the protection of workers’ rights, from minimum wage and working time to discrimination law, in today’s fragmented economy? These fundamental questions are now returning to public discussion as a result of the meteoric rise of so-called “crowd-work”.

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9780199543830

Lessons for Volkswagen on organizational resilience

Volkswagen shocked the world. The world’s largest automaker admitted to creating software that would deliberately generate false exhaust emission information on many of its popular cars. Making matters worse, Volkswagen’s top leadership seemed unsure about how to respond to the crisis as it threatened the company’s reputation, operations, and long-term strategy.

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9780190263553 - Atlas of the World 22nd edition (22e)

Place of the Year 2015 nominee spotlight: Greece

Earlier in the year, Greece faced some unsettling economic troubles. The country voted on a referendum that would decide whether they would pull their membership from the European Union (and thus, the union’s currency and economic system). It’s a wonder to think that this country, less than a decade ago, was among one of the richer nations.

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9780199646012_450

Social opulence: re-branding Labour

Corbynomics has yet to be unpacked. And when it is, there’s danger it will be branded as a return to the bad old days of tax and spend, when the 1983 Labour manifesto was dismissed by pundits as the longest suicide note in history. To avoid this, what Labour needs are some big and positive ideas; ideas that that resonate with the public and which capture that popular mood of radicalism that has put Jeremy Corbyn where he is.

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Academic knowledge and economic growth

Policies aimed at fostering economic growth through public expenditure in tertiary education should be better aware of the different contribution of each specific academic discipline. Rather than introducing measures affecting the allocation of resources in the broad spectrum of academic knowledge, policies might instead introduce ad-hoc measures to foster specific disciplines, for example through differentiated enrollment fees for students.

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Why Henry George matters

What value does the story of Henry George, a self-taught economist from the late nineteenth century, hold for Americans living in the early 21st century? Quite a lot, if we stop to consider the ways in which contemporary American society has come to resemble America in the late-nineteenth century, a period popularly known as the Gilded Age.

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Buchan-and-Keay-Europe's-Long-Energy-Journey

Obstacles on the road to a European Energy Union

Is Europe heading towards an Energy Union — the ambitious goal announced by the Commission at the beginning of this year? If so, many would say that it is about time. Energy has long been neglected by Europe.

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Peinhardt_Transnational_Cover

Failed versus rogue states: which are worse?

Today, the international community has its hands full with a host of global challenges; from rising numbers of refugees, international terrorism, nuclear weapons proliferation, to pandemics, cyber-attacks, organized crime, drug trafficking, and others. Where do such global challenges originate? Two primary sources are rogue states like North Korea or Iran and failed states like Afghanistan or Somalia.

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9780199453252

Amartya Sen on gender equality

Nobel laureate Amartya Sen, author of The Country of First Boys: And Other Essays talks to Amrita Dutta from The Indian Express about why inequality persists, his educational experiences, and his love for Sanskrit literature.

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