Oxford University Press's
Academic Insights for the Thinking World
In a widely quoted interview with USA Today, Ben Bernanke said that ‘It would have been my preference to have more investigations of individual actions because obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm.’ He makes it clear that he thought some Wall Street executives should have gone to jail.
Where does our food come from? A popular slogan tells us that our food comes from farms: “If you ate today, thank a farmer.” Supermarkets cater to the same idea, labelling every bag of produce with the name of an individual farm.
Companies care about the job satisfaction of their employees, because this is in their very own interest. In fact, dissatisfied workers perform poorly, are often absent and impose hiring costs as they switch employers frequently. Managers, as well as management researchers, agree on the importance of job satisfaction, since the Hawthorne experiments suggested in the 1920s that employees like attentive employers.
The growth of United States’ shale oil and gas production over the last decade has been nothing short of phenomenal. Already the premier natural gas producer, Already the premier natural gas producer, the United States is poised to surpass Saudi Arabia and Russia as the largest oil producer and will likely become a net exporter of both oil and gas within a decade or more.
The creativity of rich individuals and their tax advisors to hide private wealth in tax havens such as the Cayman Islands or Switzerland knows hardly any bounds. Just as unethical, though often legal, are the multiple techniques multinational corporations use to shift profits to low-tax jurisdictions such as Panama or Bermuda.
t the conclusion of the mid-September meeting of the Federal Open Market Committee (FOMC), the Federal Reserve announced its decision to leave its target interest rate unchanged through the end of this month. Although some pundits had predicted that the Fed might use the occasion of August’s decline in the unemployment rate (to 5.1 percent from 5.3 percent in July), to begin its long-awaited monetary policy tightening, those forecasts left out one crucial fact.
In 2008 Iceland experienced one of the worst financial crises in history, which involved the collapse of all three of its major commercial banks. The causes of this collapse were numerous and complex, and included the banks’ difficulty in refinancing their short-term debt and a run on their deposits.
Change is constant. We are all affected by the changing weather, natural disasters, and the march of time. Changes caused by human activity—inventions, migrations, wars, government policies, new markets, and new values—affect organizations as well as individuals.
The past two decades have seen globalization of the world’s wine markets proceed like never before, in both speed and comprehensiveness. There was a degree of trade expansion in the five decades to World War I but, until the late 20th century, interactions across continents involved little more than the exporting of vine cuttings and traditional production expertise.
There is a polarization in management and policy thinking. On the one hand, there is an increasing focus, for organizations, on defining detailed rules, standardizing methods, evidencing and measuring outcomes. The intention is to make the hospital, school, or firm work as an efficient, optimized, well-oiled machine.
Starting University can be daunting. For most, becoming a University student is the beginning of a new academic challenge and social life. However, with these exciting ventures comes financial responsibility.
Anyone who is even remotely familiar with the crisis in Greece must be aware of its record-high unemployment. From an already elevated value of 8% in 2008, the Greek unemployment rate rocketed to 27% in 2013 and has since remained in that ballpark.
Just before the release of his new book, The Country of First Boys, Nobel laureate Amartya Sen talks exclusively to the Hindustan Times‘ Manjula Narayan about our blindness to poverty, flaws of the Gujarat model, miniaturisation of great ideas by the Hindu right wing and interference in academia.
As a young ICSID neophyte, I once asked Aron Broches, the World Bank’s General Counsel from 1959 to 1979, how he had come up with the idea for the Centre. “It was in the air,” he explained. In the late 1950s and early 1960s, there were indeed a number of proposals circulating for the creation of an international arbitral mechanism for the settlement of investment disputes.
Unlike fine wine, bad ideas don’t improve with age. One such idea is the Invest in Transportation Act, co-sponsored by Sens. Barbara Boxer (D-CA) and Rand Paul (R-KY), which would institute a temporary tax cut on profits brought back to the United States by American firms from their overseas operations and use the proceeds to fund investment in transportation infrastructure.
The ‘Africa Rising’ narrative means different things to different people. Yes, Africa has performed better in the last decade. But views diverge on the drivers of growth and on its sustainability, and on whether this growth will translate into structural transformation.