Oxford University Press's
Academic Insights for the Thinking World
ne of the most common arguments against contemporary capitalism is that it generates extreme inequalities. Few individuals – it is often said – earn huge earnings, while the rest of society has to struggle to make ends meet. But, who are the super-rich and why they are paid so much? Observing the composition of top incomes reveals a striking novelty for what concerns the “who” question.
The story on the front page of The Sunday Times on 3 June 2018 pulled no punches. Headlined “Revealed: plans for Doomsday Brexit”, it reported on leaked government papers planning for a “no deal” Brexit scenario. They warned that the port of Dover could collapse on day one of exiting the EU, with major food shortages within a few days and medicines shortages within two weeks.
Learning to lead should consist of a certain sequence in a certain order. Like doctors and lawyers, and for that matter like preachers and teachers and truck drivers and hairdressers, leaders should first be educated, then trained, and then developed. Previously we have addressed leadership education and training. What finally is meant by leadership development? How are leaders developed – as opposed to educated or trained?
Blooms bring to mind the emerging beauty of spring—flowers blossoming and trees regaining their splendor. These blooms, unlike spring flowers, are odorous, unpleasant, and potentially toxic. They deter families from engaging in water-related recreational activities such as going to the shore. They discourage anglers from going fishing, which, in turn, affects those who depend on the local fishing economy.
From Che Guevara t-shirts and Honnecker’s Hostel to Mao mugs and Good Bye, Lenin!—why do millions of consumers in China, Germany, Hungary, Poland, and other former socialist societies still insist on the superiority of socialist products and brands? The standard explanation offered by consumer sociologists and historians is that these thriving socialism markets stimulate political opposition, a yearning for the “better” socialist past.
Due to the nature of globalization and the interconnectedness of modern human society, the discipline of economics touches on other areas of study such as politics, environmentalism, and international relations. This is especially true for the tumultuous times in which we live.
f we were to try summarizing the many statements on human rights within the United Nations system, it might be as follows: basic goods are basic rights. True, there was an old approach to human rights that focused exclusively on “negative” political rights and cast doubt on “positive” subsistence rights. For example, it has been argued that we should not focus on economic or social rights because this would distract attention from political rights.
To understand how nations should finance themselves it is fruitful to look at how corporations finance themselves, how they divide their financing between debt and equity. Corporations typically issue equity when they need financing for a new profitable investment opportunity, when their shares are overvalued by the stock market, or when they need to raise funds to service their debt obligations.
Imagine a consumer, Kate, who enjoys shopping for fashionable clothing, but who also cares about whether her clothing is produced ethically. She reads an article online indicating that fashion giant Zara sells clothing made by allegedly unpaid workers, but a few days later ends up buying a new shirt from Zara. She either forgets that Zara may be mistreating workers, or she mistakenly recalls that they are one of the brands that have agreed to a strict code of ethical labor practices, including paying a living wage to all workers.
The IMF & World Bank’s Spring meetings with finance ministers and central bankers, which took place in Washington DC recently, are one key forum where the IMF performs its mandated role as conduit of international economic co-ordination. The IMF uses its knowledge bank, expertise and mandate for economic surveillance and coordination to act as global arbiter of legitimate or ‘sound’ policy.
hether we recognize it or not, “marketcraft” constitutes a core government function comparable to statecraft. By marketcraft, I refer to all the things governments do to make markets function and flourish, like corporate law, antitrust policy, intellectual property rights, and financial regulation. Marketcraft has profound implications for economic performance, social welfare, and national power – so we should want to get it right.
Delta Airlines was one of more than a dozen companies to cut ties with the NRA after the school shooting in February 2018 that left 17 dead in Parkland, Florida. In a similar spirit six months earlier, CEOs from major American corporations spoke out against racial violence in Charlottesville, Virginia, President Trump’s inadequate response to the violence of white supremacists and their racist rhetoric prompted CEOs from Merck, General Electric, Apple, Goldman Sachs, Unilever, Armor, Dow, and Pepsi to separate themselves from him.
The global financial crisis, which started a decade ago and led to the Great Recession, caused profound changes in central bank practices. Extraordinary responsibilities were thrust upon central banks, particularly the European Central Bank and the US Federal Reserve. A key issue now is whether there will be a return to the central bank model which dominated advanced economies for over two decades leading up to the crisis.
Facebook has been in the hot seat since it came to light that personal data on as many 87 million users, mostly in the U.S., had been improperly acquired by Cambridge Analytica for use in the presidential campaign of Donald J. Trump. CEO Mark Zuckerberg acknowledged as well that “malicious” outsiders may have accessed profiles of most of his two billion users. In the wake of Facebook’s enormous cyber-lapse, Congress investigated, users fled, and its stock plummeted, the makings of a genuine company disaster.
Suppose you write an email to a school district or a library asking for information about enrolling your child to the school or becoming a library member. Do you expect to receive a reply? And do you expect this reply to be cordial, for instance including some form of salutation? It turns out that the answers to the two questions above depend on what your name is and on what it embodies.
Leadership is taught as casually and carelessly as ubiquitously. With few exceptions, the leadership industry sends the mistaken, misguided, and misleading message that leadership can be learned quickly and easily in, say, a course or a workshop; in a year or even a term. Which raises this question: What if leadership were conceived a profession instead of an occupation? What constitutes good leadership training?