Business & Economics Archives

Social Sciences /
Business & Economics

Finding opportunities in risk management

By Torben Juul Andersen, Maxine Garvey, and Oliviero Roggi
For decades, the press has been full of fascinating and colorful stories about prominent and heralded enterprises ending up in scandal and bankruptcy. These include the diversion of corporate funds in the Maxwell Group in the early 1990s, the trading losses that made Barings Bank extinct in the mid-1990s, the accounting frauds at WorldCom in the late 1990s, and the spectacular collapse of Enron in the early 2000s.

Professionals’ implication in corporate corruption

By Claudia Gabbioneta, Rajshree Prakash, and Royston Greenwood
Professional service firms have been implicated in numerous cases of corporate fraud. Enron is probably the most striking – albeit by no means the only – example of this involvement. Arthur Andersen (who audited Enron’s financial statements) was accused of helping the company ‘design accounting techniques or models’ that Enron used to boost its performance.

Philippines pork barrel scam and contending ideologies of accountability

By Garry Rodan
When Benigno Aquino III was elected Philippine President in 2010, combating entrenched corruption was uppermost on his projected reform agenda. Hitherto, it has been unclear what the full extent and nature of reform ambitions of his administration might be.

Ballmer overbids by one billion

By Adam Grossman
On Sunday, the NBA approved the sale of the Los Angeles Clippers to former Microsoft CEO Steve Ballmer for $2 billion. From a brand management and crisis perspective, it is easy to see why the NBA wanted to approve this sale as quickly as possible.

Changing focus

By Richard S. Grossman
For the past half dozen years or so, the first Friday of the month has brought fear and dread to large portions of the United States. This heightened anxiety has nothing to do with the phases of the moon, the expiration of multiple financial derivatives, or concerns about not having a date for the weekend.

How to change behaviour

By Adam Ferrier
So, recently there was another report from the scientists of the IPCC (Intergovernmental Panel on Climate Change) telling us that climate change (what used to be called global warming) is upon us and there are real changes happening now. The scientists urged us to heed their warning and change our behaviours, and we ignored them in droves.

Pulling together or tearing apart

By Bruce Currie-Alder Is thinking on international development pulling itself together or tearing itself apart? The phrase ‘international development’ can be problematic, embracing multiple meanings to those inside the business, but often meaningless to those outside of it. On the surface, the Millennium Development Goals and debates towards a post-2015 agenda imply a move towards […]

Five reasons why Spain has a stubbornly high unemployment rate of 26%

By William Chislett
The Spanish economy roared along like a high-speed train for a decade until it slowed down dramatically in 2008. Only recently has it emerged from a five-year recession. But the jobless rate has tripled to 26% (four times the US level) and will not return to its pre-crisis level for up to a decade. Why is this?

Restoring our innovation “vision”

What are the optimal conditions for commercializing technology breakthroughs? How can we develop a common framework among universities, government, and businesses for generating fundamentally fresh insights? How can the government maximize the public’s return on research and development investments? Innovation is a important topic in both the public and the private sectors, yet no one can agree the best path forward for it.

All (European) politics is national

By Jean Pisani-Ferry
At the end of May, 400 million EU citizens will be called to participate in the second-largest direct election in the world (the first being held in India). Since they last went to the polls to elect their parliament, in 2009, Europe has gone through an acute crisis that precipitated several countries deeper into recession than any peacetime shock they had suffered for a century.

Can we end poverty?

Define poverty as living with two dollars a day or less. Now imagine that governments could put those two dollars and one cent in every poor person’s pocket with little effort and minimal waste. Poverty is finished. Of course, things are more complicated than that. But you get a sense of where modern social policy is going—and what will soon be possible.

The financial consequences of terrorism

By Andrew Staniforth
Within moments of the terrorist attacks in London on the morning of 7 July 2005, news of the unfolding crisis on public transport had reached traders in the City. The London Stock Exchange index, the FTSE 100, lost 3.5 per cent of its total value within just 90 minutes of the trading session that day as a direct result of the bombings – equivalent to a total de-capitalisation of around £44,000,000,000.

Sam sells

By Adam Grossman
It is rare for a seventh round National Football League (NFL) draft pick to be at the center of the sports world. Then again, Michael Sam is not an average draft pick. Sam is trying to become the first openly gay player to compete for a NFL team.

Development theories and economic miracles

By Vladimir Popov
Development thinking in the second half of the twentieth century can hardly be credited for “manufacturing” development success stories. It is difficult, if not impossible, to claim that either the early structuralist models of the Big Push (financing gap and basic needs of the 1950-70s), or neo-liberal ideas of Washington consensus (that dominated the field since the 1980s) have provided crucial inputs to economic miracles in East Asia or elsewhere.

A conversation on economic democracy with Tom Malleson

How do we address the problem of inequality in capitalist societies? Tom Malleson, the author of After Occupy: Economic Democracy for the 21st Century, argues that by making sure that democracy exists in both our economy and in our government, we may be able to achieve meaningful equality throughout society.

Can we finally stop worrying about Europe?

By Richard S. Grossman
Because Europe accounts for nearly a quarter of the world’s economic output, this question is important not only to Europeans, but to Africans, Asians, Americans (both North and South), and Australians as well. Those who forecast that the United States’s relatively anemic five-year-old recovery is poised to become stronger almost always include the caveat “unless, of course, Europe implodes.”